v3.26.1
Stockholders’ Equity
 9 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Stockholders’ Equity

Note 6 – Stockholders’ Equity

 

Stock Options

 

Transactions in stock options for the nine months ended March 31, 2026, and 2025 were as follows:

 

Stock option activity table 

Number of

options

  

Weighted

average

exercise price

  

Weighted average

 remaining life

(in years)

 
Outstanding, June 30, 2025   322,600   $0.98    1.81 
Granted   –    –    – 
Cancelled   –    –    – 
Exercised   –    –    – 
Exercisable, September 30, 2025   322,600    0.98    1.56 
Cancelled   –    –    – 
Exercised   –    –    – 
Exercisable, December 31, 2025   322,600   $0.98    1.30 
Cancelled   –    –    – 
Exercised   –    –    – 
Exercisable, March 31, 2026   322,600   $0.98    1.06 

 

During the nine months ended March 31, 2026, the Company had not granted any stock options. And all stock options were vested at the fiscal year end June 30, 2023.

 

At March 31, 2026, the intrinsic value of the outstanding options was $0.

 

Effective as of April 1, 2026, the Company entered into a Stock Option Cancellation Agreement with the holders of stock options to purchase, in the aggregate, 207,600 shares of common stock. See detail discussion on Note 9—Subsequent Events, Option Cancellation Agreements.

 

Common Stock

 

The Company issued 600,000 shares of common stock, valued at $60,000, to former Chief Financial Officer Christopher Mulgrew; and issued 500,000 shares of common stock, valued at $50,000, to former Chief Executive Officer Corby Marshall who resigned on April 1, 2026, to settle accounts payable, respectively. All shares were recorded as shares to be issued prior to the issuance and were issued on January 1, 2026.