NOTE 6 - STOCK OPTIONS AND WARRANTS (Tables)

9 Months Ended

Mar. 31, 2017

Disclosure Text Block Supplement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

We estimated the fair value of the stock options granted in the current fiscal year above at the grant date based on the following weighted average assumptions:

Risk free interest rate	1.450	%
Expected life	3.0	years
Expected volatility	126.36	%
Dividend yield	0.00	%

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the status of our outstanding stock options as of March 31, 2017 and June 30, 2016, and changes during the periods then ended is presented below:

	March 31, 2017							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		480,000	$	0.10					1,530,000	$	0.10
Expired/Cancelled		-	$	0.00					-	$	0.00
Exercised		-	$	0.00					-	$	0.00
Outstanding end of period		4,280,000	$	0.12		$	-		3,800,000	$	0.13		$	-
Exercisable		3,960,000	$	0.12		$	-		3,070,000	$	0.13		$	-

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

The following table summarizes the range of outstanding and exercisable options as of March 31, 2017:

		Outstanding						Exercisable
Range of Exercise Prices		Number Outstanding at March 31, 2017		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Number Exercisable at March 31, 2017		Weighted Average Remaining Contractual Life
$	0.08		150,000		4.67	$	0.08		150,000		4.67
$	0.10		2,680,000		2.35	$	0.10		2,360,000		2.35
$	0.17		1,450,000		3.67	$	0.17		1,450,000		3.67
			4,280,000						3,960,000