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7. COMMON STOCK
6 Months Ended
Dec. 31, 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 126,900,921 and 118,486,728 were issued outstanding as of December 31, 2017 and June 30, 2017, respectively. The activity surrounding the issuances of the Common Stock is as follows:

 

For the six months Ended December 31, 2017

 

The Company issued 2,200,000 shares of Common Stock for $222,750 in cash as part of a private placement, net of $4,750 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 3,010,506 shares of Common Stock as incentive with convertible notes valued at $192,896.

 

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

 

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 1,348,525 shares of common stock valued at $187,623, 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 Six Months Ended December 31, 2016

 

The Company issued 848,755 shares of Common Stock for the conversion of notes and accrued interest valued at $190,164.

 

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 1,149,860 shares of Common Stock as payment for services and rent valued at $451,130.

 

The Company issued 3,020,750 shares of Common Stock for the conversion warrants valued at $906,225.

 

As share-based compensation to employees and non-employees, the Company issued 575,951 shares of common stock valued at $218,538, based on the market price of the stock on the date of issuance. As interest expense on outstanding notes payable, the Company issued 1,025,888, shares of common stock valued at $390,073 based on the market price on the date of issuance.