Short Term Loan
|12 Months Ended|
Jun. 30, 2017
|Debt Disclosure [Abstract]|
|Short Term Loan||
In May 2016, the Company issued a note for $25,000 with an annual rate of interest of 4.0%. Along with the debt offering, the Company also issued 1,666,667 warrants. The warrants are exercisable immediately with an exercise price of $0.06 per share and expire May 26, 2019. The Company used the Black-Scholes option pricing model to determine the relative fair value of the warrant and a debt discount of $19,938 was recorded.
During the years ended June 30, 2017 and 2016, the Company recognized amortization expense of $7,157 and $521 and the note balance as of June 30, 2017 was $12,240 or $25,000 net of discount of $12,760.
The entire disclosure for short-term debt.
Reference 1: http://www.xbrl.org/2003/role/presentationRef