v3.25.1
Stock Incentive Plans
9 Months Ended
Mar. 31, 2025
Stock Incentive Plans [Abstract]  
STOCK INCENTIVE PLANS
5.STOCK INCENTIVE PLANS

 

2019 Equity Stock Incentive Plan

 

On December 17, 2018, the Board of Directors adopted the 2019 Equity Incentive Plan (“the 2019 Plan”), under which 300,000,000 shares are reserved for issuance. The purpose of the 2019 Plan is to promote the success of the Company and to increase stockholder value by providing an additional means through the grant of awards to attract, motivate, retain, and reward selected employees and other eligible persons. The awards are performance-based compensation that are granted under the 2019 Plan as incentive stock options (ISO) or nonqualified stock options. The per share exercise price for each option shall not be less than 100% of the fair market value of a share of common stock on the date of grant of the option. The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing cost.

As of March 31, 2025, under the 2019 Plan, there were 285,270,561 stock options and shares issued, with 14,729,439 shares remaining available for issuance.

 

2022 Equity Stock Incentive Plan

 

On January 27, 2022, the Company adopted the 2022 Equity Incentive Plan (the “2022 Plan”), to enable the Company to attract and retain the types of employees, consultants, and directors who will contribute to the Company’s long-range success. The maximum number of shares of common stock that may be issued under the 2022 Plan is initially 400,000,000. The number of shares automatically increases on the first day of the Company’s fiscal year beginning in 2023 so that the total number of shares issuable equals fifteen percent (15%) of the Company’s fully diluted capitalization on the first day of the Company’s fiscal year, unless the Board adopts a resolution providing that the number of shares issuable under the 2022 Plan shall not be so increased.

 

As of July 1, 2024, the maximum number of shares issuable under the 2022 Equity Incentive Plan increased to 953,548,700 shares, based on the Company’s fully diluted capitalization of 6,356,991,335. As of March 31, 2025, there were 448,600,000 stock options and shares issued, with 504,948,700 shares remaining available for issuance under the 2022 Plan.