Stockholders' Equity (Tables)
|
6 Months Ended |
Dec. 31, 2019 |
|---|
| Stockholders Equity |
|
| Summary of Option Activity |
| | |
Number of Shares
Underlying
Outstanding
Options | |
Weighted
Average
Remaining
Contractual
Life (Years) | |
Weighted
Average
Exercise
Price | |
Intrinsic
Value |
| Options outstanding as of June 30, 2019 | |
| 4,050,000 | | |
2.3 years | |
$ | .02 | | |
$ | 13,500 | |
| Granted | |
| 300,000 | | |
4.7 years | |
| .03 | | |
| — | |
| Exercised | |
| — | | |
- | |
| — | | |
| — | |
| Forfeited or expired | |
| (150,000 | ) | |
1.0 years | |
| .03 | | |
| — | |
| Options outstanding as of December 31, 2019 | |
| 4,200,000 | | |
2.0 years | |
| .02 | | |
$ | 13,500 | |
| Options exercisable as of December 31, 2019 | |
| 2,825,000 | | |
1.5 years | |
| .02 | | |
$ | 13,500 | |
|
| Assumptions |
| | |
Six Months
Ended December 31, 2019 | |
Six Months
Ended December 31, 2018 |
| Exercise Price: | |
$.02 - $.03 | |
$.046 |
| Volatility: | |
405% - 407% | |
391% |
| Risk Free Rate: | |
1.6% - 1.81% | |
2.7% |
| Vesting Period: | |
4 years | |
4 years |
| Forfeiture Rate: | |
0% | |
0% |
| Expected Life | |
4.1 years | |
4.1 years |
| Dividend Rate | |
0% | |
0% |
| | |
| |
|
|
| Outstanding stock options |
| |
|
Outstanding Options |
|
Exercisable Options |
| Exercise Prices |
|
Number
of Shares |
|
Remaining
Life
(Years) |
|
Weighted
Average
Price |
|
Number of
Shares |
|
Weighted
Average
Price |
| |
|
$ |
.01 to .03 |
|
|
|
3,800,000 |
|
|
|
1.9 |
|
|
$ |
.02 |
|
|
|
2,650,000 |
|
|
$ |
.02 |
| |
|
$ |
.034 to .05 |
|
|
|
400,000 |
|
|
|
2.7 |
|
|
$ |
.05 |
|
|
|
175,000 |
|
|
$ |
.04 |
| Total stock options |
|
|
|
4,200,000 |
|
|
|
2.0 |
|
|
$ |
.02 |
|
|
|
2,825,000 |
|
|
$ |
.02 |
|
| Stock option compensation expense |
| | |
Three Months
Ended December 31, | |
Six Months
Ended December 31, |
| | |
2019 | |
2018 | |
2019 | |
2018 |
| | |
(in thousands) |
| Cost of Goods Sold | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | — | |
| Other Selling and Marketing | |
| 1 | | |
| 1 | | |
| 2 | | |
| 2 | |
| General and Administrative | |
| 5 | | |
| 5 | | |
| 9 | | |
| 10 | |
| Total Stock-based Compensation Expense | |
$ | 6 | | |
$ | 6 | | |
$ | 11 | | |
$ | 12 | |
|
| Common Stock for issuance |
| |
|
December 31, |
| |
|
2019 |
| Shares of common stock reserved for issuance under the 2009 Stock Option Plan |
|
|
100,000 |
|
| Shares of common stock reserved for issuance under the 2015 Stock Option Plan |
|
|
5,000,000 |
|
| Shares of common stock issuable upon conversion of the Preferred Stock |
|
|
4,300,000 |
|
| Total shares of common stock equivalents |
|
|
9,400,000 |
|
|