| Schedule of stock-based compensation expense |
The
Company recorded stock–based compensation expense for the shares issued to consultants that have vested, which is a component
of general and administrative expenses in the Consolidated Statement of Operations as follows:
| |
|
|
|
|
Stock
Based Compensation |
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
For
the Three Months Ended |
|
| Month
of Original Grant |
|
Shares
Issued |
|
|
September
30,
2016 |
|
|
September
30,
2015 |
|
| |
|
|
|
|
|
|
|
|
|
| December
2015 |
|
|
230,000 |
|
|
$ |
166,957 |
|
|
$ |
- |
|
| March 2016 |
|
|
60,000 |
|
|
|
46,127 |
|
|
|
- |
|
| August
2016 |
|
|
40,000 |
|
|
|
147,600 |
|
|
|
- |
|
| |
|
|
330,000 |
|
|
$ |
360,684 |
|
|
$ |
- |
|
|
| Schedule of the option activity |
The
following is a summary of the option activity:
| |
|
Options |
|
|
Weighted
Average
Exercise
Price |
|
| |
|
|
|
|
|
|
| Outstanding
– June 30, 2016 |
|
|
160,000 |
|
|
$ |
1.50 |
|
| Exercisable
– June 30, 2016 |
|
|
40,000 |
|
|
$ |
1.50 |
|
| Granted |
|
|
— |
|
|
|
— |
|
| Exercised |
|
|
— |
|
|
|
— |
|
| Forfeited/Cancelled |
|
|
— |
|
|
|
— |
|
| Outstanding
– September 30, 2016 |
|
|
160,000 |
|
|
$ |
1.50 |
|
| Exercisable
– September 30, 2016 |
|
|
40,000 |
|
|
$ |
1.50 |
|
|
| Schedule of resricted shares |
The
following is a summary of restricted shares:
| Grant
Date |
|
Shares
Issued |
|
|
Fair
Value |
|
|
Shares
Vested |
|
| June 2014 |
|
|
307,876 |
|
|
$ |
633,297 |
|
|
|
96,211 |
|
| July 2014 |
|
|
32,408 |
|
|
|
2,090 |
|
|
|
9,452 |
|
| August 2014 |
|
|
81,020 |
|
|
|
205,016 |
|
|
|
28,020 |
|
| September 2014 |
|
|
129,633 |
|
|
|
256,718 |
|
|
|
32,408 |
|
| March 2015 |
|
|
72,918 |
|
|
|
228,960 |
|
|
|
10,128 |
|
| June 2015 |
|
|
293,000 |
|
|
|
439,500 |
|
|
|
- |
|
| November 2015 |
|
|
36,200 |
|
|
|
54,300 |
|
|
|
- |
|
| December 2015 |
|
|
300,000 |
|
|
|
1,089,400 |
|
|
|
230,000 |
|
| January 2016 |
|
|
40,000 |
|
|
|
68,000 |
|
|
|
- |
|
| March 2016 |
|
|
60,000 |
|
|
|
256,800 |
|
|
|
60,000 |
|
| June 2016 |
|
|
188,000 |
|
|
|
516,920 |
|
|
|
- |
|
| August
2016 |
|
|
343,000 |
|
|
|
1,415,960 |
|
|
|
40,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
1,814,055 |
|
|
$ |
5,166,961 |
|
|
|
506,219 |
|
|