Annual report pursuant to Section 13 and 15(d)

Stock Options and Warrants (Tables)

v3.8.0.1
Stock Options and Warrants (Tables)
12 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Option Plan activity

A summary of the status of the Company’s stock option plan as of June 30, 2017 and 2016 are as follows:

 

      Options     Weighted Average Exercise Price     Weighted Average Remaining Term (Years)     Aggregate Intrinsic Value  
                           
Outstanding at June 30, 2015       5,140,339     $ 0.50       8.675     $  
Granted                       $  
Outstanding at June 30, 2016       5,140,339       0.500       7.673     $  
Exercisable at June 30, 2016       3,742,754       0.500       7.653     $  
Granted       10,000,000       0.06       3.00     $  
Outstanding at June 30, 2017       15,140,339       0.500       3.927     $  
Exercisable at June 30, 2017       15,027,839     $ 0.21       3.939     $  
Schedule of Stock Options Valuation Assumptions

The following assumptions were used for the options granted during the years ended June 30, 2017 and 2016:

 

  2017 2016
Risk-free interest rate 1.03% 0.45% - 1.07%
Expected volatility 84.31% 73.58% - 93.57%
Dividend yield 0.00% 0.00%
Expected option term 1.8 – 3 years 1.3 – 4.4 years
Schedule of LocatorX's stock options activity

Options amortization expense of the LocatorX’s stock options was $75,979 and $128,161 for the year ended June 30, 2017 and 2016, respectively. A summary of the status of LocatorX’s stock options as of June 30, 2017 and 2016 are as follows:

 

      Options     Weighted Average Exercise Price     Weighted Average Remaining Term (Years)     Aggregate Intrinsic Value  
                           
Outstanding at June 30, 2015       300,000     $                  
 Granted       3,790,000       0.200                  
 Forfeited       667,500       0.170                  
Outstanding at June 30, 2016       3,422,500       0.186       2.557     $  
Exercisable at June 30, 2016       663,333       0.349       2.745     $  
                                   
 Forfeited                              
 Granted       2,640,000       1.17                  
Outstanding at June 30, 2017       6,062,500       0.61       1.95     $  
Exercisable at June 30, 2017       2,079,994     $ 0.25       1.53     $  
Schedule of warrant activity

The following table presents the warrant activity during the years ended June 30, 2017 and 2016 presented on a post 1 for 100 Reverse Split basis:

 

      Common Shares Covered by Warrants     Weighted Average Exercise Price     Weighted Average Remaining Term (Years)     Aggregate Intrinsic Value  
                           
Outstanding at June 30, 2015       2,965,343     $ 1.118       1.919     $  
 Granted       11,666,667       0.060                  
 Expired       (1,418,534 )     1.352                  
                                   
Outstanding at June 30, 2016       13,213,476       0.159       1.813     $  
Exercisable at June 30, 2016       13,213,476     $ 0.159       1.813     $  
 Granted       18,474,324       0.01                  
 Expired       (513,476 )     0.50                  
Outstanding at June 30, 2017       31,174,324     $ 0.067       1.0     $ 165,000  
Exercisable at June 30, 2017       29,374,324     $ 0.067       1.0     $ 165,000  

 

Schedule of warrants valuation assumptions

The following assumptions were used for the warrants for the years ended June 30, 2017 and 2016:

 

  2017 2016
Risk-free interest rate 0.99% 0.99%
Expected volatility 266% - 284% 186% - 207%
Dividend yield 0.00% 0.00%
Expected option term 4 years 1 years