v3.22.4
Stockholders’ Equity
 6 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Stockholders’ Equity

Note 6– Stockholders’ Equity

 

Common stock

 

The Board of Directors authorized the issuance of a total of 2,500,000 shares of common stock of the Company to each of its Chief Executive Officer and Chief Financial Officer, with 250,000 of such shares to be issued to each of them every quarter beginning July 1, 2021 and continuing every three months through October 1, 2023, and authorized the issuance of a total of 1,000,000 shares of common stock of the Company to its Chief Operating Officer with 250,000 of such shares to be issued to each of them every quarter beginning July 1, 2022 and continuing every three months through April 1, 2023, it being the intent of the Board that the issuance of these shares represents compensation for services rendered for the then completed calendar quarter. At December 31, 2022, the Company has included as stock payable the $50,750 fair value of the aggregate 750,000 shares due to the officers.

 

During the six months ended December 31, 2022, the Company issued shares of its common stock as follows:

 

  ● 1,500,000 shares (500,000 to each of the Company’s Chief Executive Officer, Chief Financial Officer and Chief Operating Officer) as consideration for their services to the Company. The shares were valued at $101,500 based on the closing trading price of the Company’s common stock as of the date of Board authorization for the issuance.

 

 

NEXIEN BIOPHARMA, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

 

Note 6– Stockholders’ Equity (continued)

 

Options

 

A summary of option activity during the six months ended December 31, 2022 is presented below:

 

  

 

 

 

 

Shares

  

 

Weighted Average Exercise Price

   Weighted Average Remaining Contractual Life (Years) 
             
Outstanding and exercisable – June 30, 2022   7,995,000   $0.26    3.7 
Granted   -           
Exercised   -           
Expired/Canceled   -           
Outstanding and exercisable -December 31, 2022   7,995,000   $0.26    3.2 

  

Warrants

 

A summary of warrant activity during the six months ended December 31, 2022 is presented below:

 

  

 

 

 

 

Shares

  

 

Weighted Average Exercise Price

   Weighted Average Remaining Contractual Life (Years) 
             
Outstanding and exercisable – June 30, 2022   5,529,409   $0.0429    3.36 
Granted   -           
Exercised   -           
Expired/Canceled   -           
Outstanding and exercisable – December 31, 2022   5,529,409   $0.0429    3.03