NOTE 6 - STOCK OPTIONS AND WARRANTS

3 Months Ended

Sep. 30, 2016

Disclosure Text Block Supplement [Abstract]

Shareholders' Equity and Share-based Payments [Text Block]

NOTE 6 - STOCK OPTIONS AND WARRANTS

Prior Issuances of options

On December 1, 2015, 480,000 options were granted to the Company’s Chief Executive Officer (then our Chief Operating Officer) as part of his employment offer.  The options have a strike price of $0.10, vest December 1, 2016 and expire December 1, 2020.  

On January 19, 2016, the Board granted all non-executive Board members 100,000 options, with the audit committee chair receiving an additional 50,000 options, for Board services rendered for the Board term ending December 2016.  The options have a strike price of $0.10, vest at the end of the Board term in December 2016 and expire December 2019.  

On January 19, 2016, 50,000 options were granted to the Company’s Chief Financial Officer as part of renewal of her employment agreement.  The options have a strike price of $0.10, vest ratably January 21, 2016 to December 1, 2016 and expire December 1, 2019.  In addition to the option renewal $550 a month in health insurance reimbursement was included in the renewal.  All other terms remain the same.  

Year to date expense related to these options is $8,068 as of September 30, 2016.

A summary of the status of our outstanding stock options as of September 30, 2016 and June 30, 2016 and changes during the periods then ended is presented below:

The following table summarizes the range of outstanding and exercisable options as of September 30, 2016:

	September 30, 2016							June 30, 2016
			Weight Average		Intrinsic					Weight Average		Intrinsic
	Shares		Exercise Price		Value			Shares		Exercise Price		Value
Outstanding beginning of period		3,800,000	$	0.13					2,270,000	$	0.14
Granted		-	$	0.00					1,530,000	$	0.10
Expired/Cancelled		-	$	0.00					-	$	0.00
Exercised		-	$	0.00					-	$	0.00
Outstanding end of period		3,800,000	$	0.13		$	-		3,800,000	$	0.13		$	-
Exercisable		3,195,000	$	0.13		$	-		3,070 ,000	$	0.13		$	-

		Outstanding						Exercisable
Range of Exercise Prices		Number Outstanding at September 30, 2016		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Number Exercisable at September 30, 2016		Weighted Average Remaining Contractual Life
$	0.08		150,000		5.17	$	0.08		150,000		5.17
$	0.10		2,200,000		2.59	$	0.10		1,595,000		2.59
$	0.17		1,450,000		4.17	$	0.17		1,450,000		4.17
			3,800,000						3,195,000

General Warrant Information

In September 2013, the Company obtained an extension on the remaining $100,000 secured convertible promissory note that was issued in the private placement that closed in September 2010.  This note was paid off as of June 30, 2015.   In exchange for the extension, the note holder received 500,000 common stock warrants and $6,500 in accrued interest and fees.  The common stock warrants expire three years from the date of issuance, are exercisable at $0.13 per share, and vest on the next date the value of Amerityre common stock reaches $0.25 per share.  As of September 30, 2016 the warrants expired.