STOCK OPTIONS AND WARRANTS

9 Months Ended

Mar. 31, 2021

Disclosure Text Block Supplement [Abstract]

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

NOTE 6 – STOCK OPTIONS AND WARRANTS

On July 22, 2020, the Board of Directors adopted the 2020 Equity Incentive Plan (the “2020 Plan”) which contains provisions for up to 5,000,000 stock-based instruments to be granted to employees, consultants and directors.

Effective September 24, 2020, the Company filed a withdrawal of designation related to the 2013 Series Convertible Preferred Stock designation. In doing so, the State of Nevada also withdrew all preferred shares authorized. The Company will file a new designation authorizing preferred shares should this be needed in the future.

No options have been granted as of March 31, 2021 or in fiscal year 2021.  

A summary of the status of our outstanding stock options as of March 31, 2021 and June 30, 2020 and changes during the periods then ended is presented below:

	March 31, 2021								June 30, 2020
				Weight Average			Intrinsic					Weight Average			Intrinsic
	Shares			Exercise Price			Value		Shares			Exercise Price			Value
Outstanding beginning of period		2,870,000		$	0.12					3,970,000		$	0.12
Granted		-		$	0.00					-		$	0.00
Expired/Cancelled		(1,840,000	)	$	(0.12	)				(1,100,000	)	$	(0.14	)
Exercised		-		$	0.00					-		$	0.00
Outstanding end of period		1,030,000		$	0.12		$	-		2,870,000		$	0.12		$	-
Exercisable		1,030,000		$	0.12		$	-		2,870,000		$	0.12		$	-

The following table summarizes the range of outstanding and exercisable options as of March 31, 2021:

		Outstanding						Exercisable
Range of Exercise Prices		Number Outstanding at March 31, 2021		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Number Exercisable at March 31, 2021		Weighted Average Remaining Contractual Life
$	0.08		150,000		0.67	$	0.08		150,000		0.67
$	0.10		480,000		0.75	$	0.10		480,000		0.75
$	0.17		400,000		0.67	$	0.17		400,000		0.67
			1,030,000						1,030,000