Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
6 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events
16. Subsequent Events Between the dates of January 1, 2020 and February 19, 2020, noteholder Eagle Equities converted a total of $394,936 of principal and interest from outstanding notes to Company stock. The average conversion price in these transactions was $.1282. 3,080,873 shares were issued to the noteholder in these transactions.
    On February 6, 2020 the Company entered into a convertible promissory note and security purchase agreement dated and funded February 6, 2020, in the amount of $200,000. The lender was Eagle Equities, LLC.

On January 20, 2020, the Registrant entered into a "Lock Up" Agreement with its largest shareholder, Sean Folkson, owner of 16,753,568 shares. Folkson has agreed to not transfer, sell, or otherwise dispose of any shares of his NGTF stock during the twelve month period starting February 4, 2020.


As part of this agreement, Folkson received warrants to acquire 400,000 shares of NGTF common stock at an exercise price of $.30 per share. All warrants carry a twelve month term and a cashless provision, and will expire if not exercised within the twelve month term.


This event was disclosed on a Form 8K dated January 21, 2020