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7. COMMON STOCK
3 Months Ended
Sep. 30, 2017
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 122,674,082 and 118,486,728 were issued outstanding as of September 30, 2017 and June 30, 2017, respectively. The activity surrounding the issuances of the Common Stock is as follows:

 

For the Three Months Ended September 30, 2017

 

The Company issued 1,625,000 shares of Common Stock for $168,500 in cash as part of a private placement, net of $1,500 of issuance costs, respectively. 

 

The Company issued 340,000 shares of Common Stock for the conversion of notes and accrued interest valued at $34,000.

 

The Company issued 120,000 shares of Common Stock as payment for services and rent valued at $22,800.

 

The Company issued 115,500 shares of Common Stock for the incentive with convertible notes valued at $15,963.

 

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 591,692 shares of common stock valued at $100,589, 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.

  

For the Three Months Ended September 30, 2016

 

The Company issued 552,733 shares of Common Stock for the conversion of notes and accrued interest valued at $130,022.

 

The Company also issued 100,000 shares of Common Stock as incentive to notes valued at $33,349 and recorded $30,519 in beneficial conversion features related to new issuances of debt.

 

The Company issued 309,965 shares of Common Stock as payment for services and rent valued at $122,136.

 

As share-based compensation to employees and non-employees, the Company issued 271,831 shares of common stock valued at $106,014, based on the market price of the stock on the date of issuance. As interest expense on outstanding notes payable, the Company issued 524,715 shares of common stock valued at $204,639 based on the market price on the date of issuance.