| 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. |
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During
the six months ended December 31, 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% |
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The
aggregate intrinsic value of the warrants as of December 31, 2020 is $-0-. |
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Outstanding at |
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|
|
|
|
Outstanding |
|
| Exercise Price |
|
|
June 30,
2020 |
|
|
Issued / (Exercised) in 2020 |
|
|
Expired |
|
|
December 31
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 |
|
|
|
- |
|
|
|
- |
|
|
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300,000 |
|
| |
|
|
|
|
1,155,000 |
|
|
|
500,000 |
|
|
|
- |
|
|
|
1,655,000 |
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