Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.20.2
Warrants
3 Months Ended
Sep. 30, 2020
Warrants [Abstract]  
Warrants
13. Warrants   The following is a summary of the Company's outstanding common stock purchase warrants.  Of the 500,000 warrants shown below at an exercise price of $.15, these warrants were issued as compensation for a four-year advisory agreement.  150,000 warrants vested on July 24, 2018, another 150,000 on July 24, 2019, another 150,000 vested on July 24, 2020, and the remaining 50,000 will vest on July 24, 2021, should advisor complete the term of his engagement. These warrants were all accounted for in Fiscal 2020.
       
     

During the three months ended September 30, 2020 the Company entered into a warrant agreement with one of the Company's vendors issuing 500,000 warrants at a strike price of $0.50 having a term of five years. The Company valued these warrants using the Black Scholes model utilizing a 107.93% volatility and a risk-free rate of 0.29%

       
      The aggregate intrinsic value of the warrants as of September 30, 2020 is $-0-.

 

      Outstanding at                 Outstanding  
Exercise Price     June 30,
2020
    Issued / (Exercised) in 2020     Expired     September 30
2020
 
$ 0.15       500,000       -       -       500,000  
$ 0.20       105,000       -       -       105,000  
$ 0.30       100,000       -       -       100,000  
$ 0.40       150,000       -       -       150,000  
$ 0.50       -       500,000       -       500,000  
$ 0.75       300,000       -       -       300,000  
          1,155,000       500,000       -       1,655,000