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7. COMMON STOCK
9 Months Ended
Mar. 31, 2018
Text Block [Abstract]  
7. COMMON STOCK

The Company has authorized 250,000,000 shares of $0.001 par value per share Common Stock, of which 132,147,996 and 118,486,728 were issued outstanding as of March 31, 2018 and June 30, 2017, respectively. The activity surrounding the issuances of the Common Stock is as follows:

 

For the nine months Ended March 31, 2018

 

The Company issued 8,566,666 shares of Common Stock for $413,751 in cash as part of a private placement, net of $4,750 of issuance costs, respectively. 

 

The Company issued 9,599,958 shares of Common Stock for the conversion of notes and accrued interest valued at $277,265.

 

The Company issued 6,098,101 shares of Common Stock as incentive with convertible notes valued at $317,261.

 

The Company issued 415,000 shares of Common Stock for the prepaid consulting services and rent valued at $49,290.

 

The Company issued 115,000 shares of Common Stock for the extension of two convertible notes valued at $16,897.

 

As share-based compensation to employees and non-employees, the Company issued 2,423,632 shares of common stock valued at $252,128, based on the market price of the stock on the date of issuance.

 

As interest expense on outstanding notes payable, the Company issued 1,280,162 shares of common stock valued at $217,628 based on the market price on the date of issuance.

 

As part of a debt extinguishment, the note holder agreed to cancel 14,837,251 shares of common stock.

 

For the Nine Months Ended March 31, 2017

 

The Company issued 1,463,334 shares of Common Stock for cash valued at $359,000 which includes a $80,000 subscription payable.

 

The Company issued 994,684 shares of Common Stock for the conversion of notes and accrued interest valued at $220,164.

 

The Company also issued 650,000 shares of Common Stock as incentive to notes valued at $127,600. The Beneficial Conversion was valued at $30,519.

 

The Company also issued 100,000 shares of Common Stock for the conversion of 50,000 shares of Series A-1 Preferred Stock and issued 5,162 shares of Common Stock of payment of $2,581 in accrued dividends.

 

The Company issued 2,667,876 shares of Common Stock as payment for services and rent valued at $847,616.

 

The Company issued 3,020,750 shares of Common Stock for the conversion warrants valued at $906,224.

 

The Company issued 12,500 shares of Common Stock for the extension of two convertible notes valued at $3,749.

  

As share-based compensation to employees and non-employees, the Company issued 880,366 shares of common stock valued at $328,128, based on the market price of the stock on the date of issuance. As interest expense on outstanding notes payable, the Company issued 1,603,135, shares of common stock valued at $569,020 based on the market price on the date of issuance.