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

Note 6 – Stockholders’ Deficit

 

Common stock

 

On October 9, 2025, the Company entered into an agreement with two accredited investors whereby the investors subscribed for 5,769,400 units, each unit consisting of a share of common stock and a five-year warrant exercisable for one share of common stock at an exercise price of $0.06 per share. The price of the units was $0.03 per unit for aggregate proceeds of $173,000. As part of the agreement, these investors also agreed to forfeit or retire an aggregate of 5,769,400 warrants granted to them in the prior year, which had an exercise price of $0.09 per share and expired between June 21, 2026 and July 11, 2026.

 

In October 2025, the Company issued an aggregate of 3,300,000 shares of common stock to various consultants for consulting work to be performed for a one-year term. The common stock issued was valued at fair market value on the grant date at $244,000.

 

On November 25, 2025, certain warrant holders, including the Company’s CEO exercised warrants for an aggregate of 13,700,000 shares of common stock on a cashless basis in accordance with terms of the warrant agreements. As a result, the Company issued 11,495,000 shares of common stock.

 

Warrants

 

See warrant activity under common stock above.

 

A summary of the Company’s warrant activity as of March 31, 2026 is as follows:

            
   Warrants  

Weighted-

Average

Exercise

Price

   Weighted-Average
Remaining
Contractual Life
(Years)		 
             
Outstanding at June 30, 2025   49,041,323   $0.053    2.81 
- Granted   5,769,400    0.060    5.00 
- Exercised   (13,700,000)   0.014    0.71 
- Expired/retired   (5,769,400)   0.090    3.98 
Outstanding at March 31, 2026   35,341,323   $0.063    2.11 

 

As of March 31, 2026, the intrinsic value of these stock purchase warrants amounted to $61,300.

 

The following table summarizes additional information concerning warrants outstanding and exercisable at March 31, 2026:

                     
    Warrants Outstanding   Warrants Exercisable 
        Weighted   Weighted       Weighted 
        Average   Average       Average 
Exercise   Number   Remaining   Exercise   Number   Remaining 
Price   of Shares   Life (Years)   Price   of Shares   Life (Years) 
                      
$0.013    2,000,000    3.64   $0.013    2,000,000    3.64 
$0.017    4,500,000    3.92    0.017    4,500,000    3.92 
$0.030    5,000,000    3.76    0.030    5,000,000    3.76 
$0.060    5,769,400    4.53    0.060    5,769,400    4.53 
$0.090    18,071,923    0.26    0.090    18,071,923    0.26 
      35,341,323    2.11   $0.063    35,341,323    2.11