15. Equity

12 Months Ended

Jun. 30, 2020

Stockholders' equity:

Equity

On June 18, 2020 the Company entered into a securities purchases agreement with several accredited investors for the sale and issuance of 1,349,850 shares of the Company’s Common Stock at an offering of $4.50 per share and warrants to purchase up to 1,349,850 shares of the Company’s Common Stock at $9.00 per share for total proceeds of                          $6,074,400.  The Company incurred approximately $70,000 in issuance related costs.  The proceeds are earmarked for the operations of the Company’s SBI operations.  The warrants are immediately exercisable and expire five years from the date of issuance.  If at any time commencing twelve months from the date of the agreement, but before the                     expiration  of the  warrant, the volume weighted average price of the Company’s Common Stock exceeds $18 per share for each of thirty consecutive days, the Company may at any time in its sole discretion, call for the exercise of the Warrants, in their entirety.