Post-effective amendment to a registration statement that is not immediately effective upon filing

Stockholders' Equity (Tables)

v3.6.0.2
Stockholders' Equity (Tables)
 3 Months Ended 12 Months Ended
Sep. 30, 2016
Jun. 30, 2016
Schedule of Black-Scholes option pricing model with weighted average assumptions  

The fair values of the Company’s options were estimated at the dates of grant using a Black-Scholes option pricing model with the following weighted average assumptions:

 

Expected term (years)     6.25  
Risk-free interest rate     1.29 %
Volatility     47 %
Dividend yield     0 %
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  

The following is a summary of the option activity:

 

    Options     Weighted
Average
Exercise
Price		  
             
Outstanding – April 1, 2015     —     $ —  
Exercisable –April 1, 2015     —       —  
Granted     160,000       1.50  
Exercised     —       —  
Forfeited/Cancelled     —       —  
Outstanding – June 30, 2015     160,000     $ 1.50  
Exercisable – June 30, 2015     —     $ —  
Granted     —       —  
Exercised     —       —  
Forfeited/Cancelled     —       —  
Outstanding – March 31, 2016     160,000     $ 1.50  
Exercisable – March 31, 2016     —     $ —  
Granted     —       —  
Exercised     —       —  
Forfeited/Cancelled     —       —  
Outstanding – June 30, 2016     160,000     $ 1.50  
Exercisable – June 30, 2016 (1)     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  

The following is a summary of restricted shares:

 

Grant Date   Shares
Issued		     Fair
Value		     Shares
Vested		  
June 2014     307,876     $ 604,385       96,211  
July 2014     32,408       1,469       9,452  
August 2014     81,020       207,257       33,083  
September 2014     129,633       260,514       32,408  
March 2015     72,918       259,288       8,608  
June 2015     293,000       439,500       -  
November 2015     36,200       54,300       -  
December 2015     300,000       1,068,700       -  
January 2016     40,000       68,000       -  
March 2016     60,000       251,400       -  
June 2016     8,000       33,600       -  
                         
      1,361,055     $ 3,248,413       179,762  
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     $ -  

In relation to the above restricted stock agreements for the three months ended June 30, 2016, the years ended June 30, 2016, June 30, 2015, March 31, 2016 and the period May 12, 2014 (Inception) through June 30, 2015, the Company recorded stock–based compensation expense for the shares that have vested, as follows:

 

                        For the
Period
from		  
For the
Three
Months
Ended		       For the
Year
Ended		       For the
Year
Ended		       For the
Year
Ended		     May 12,
2014
(Inception)
through		  
June 30,
2016		       June 30,
2016		       June 30,
2015		       March 31,
2016		      March 31,
2015		  
                                     
$ 428,678     $ 821,617     $ 78,925     $ 465,616     $ 6,219  
General and Administrative Expense [Member]    
Schedule of stock-based compensation expense  

In relation to the above consulting agreements for the three months ended June 30, 2016, the years ended June 30, 2016, June 30, 2015, March 31, 2016 and the period May 12, 2014 (Inception) through June 30, 2015 the Company recorded stock–based compensation expense for the shares 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
Period
from		  
          For the
Three
Months
Ended		     For the
Year
Ended		     For the
Year
Ended		     For the
Year
Ended		     May 12,
2014
(Inception)
through		  
    Shares
Issued		     June 30,
2016		     June 30,
2016		     June 30,
2015		     March 31,
2016		     March 31,
2015		  
                                     
December 2015     230,000     $ 206,208     $ 342,811     $ -     $ 136,603     $ -  
March 2016     60,000       59,653       71,786       -       12,133       -  
      290,000     $ 265,861     $ 414,597     $ -     $ 148,736     $ -