Note 5 - Capital Stock | NOTE 5 CAPITAL STOCK Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock. No preferred stock has been issued so far. The authorized preferred shares are non-voting and the Board of Directors has not designated any liquidation value or dividend rates. Common Stock The Company is authorized to issue 250,000,000 shares of no par value common stock. The holders of the Company's common stock are entitled to one vote for each share held of record on all matters to be voted on by those stockholders. As of December 31, 2017 and June 30, 2017, the Company had 188,451,503 184,935,259 184,881,503 On May 11, 2015, the Company entered into an equity purchase agreement (the EPA) with an unrelated investor (the Investor). The EPA is a put option contract wherein, at the Companys sole discretion, up to $5,000,000 of common stock may be sold to the Investor for a period of 3 years ending May 2018. Under the terms of the EPA, prior to 2016, the Company issued 208,333 shares pursuant to a put notice for $10,000. The put notice yielded $1,500 in cash against 37,037 of the 208,333 shares. In addition to these 37,037 shares, the investor converted $2,973 in accrued interest related to a prior convertible note payable into 165,144 shares, leaving 6,152 shares held by the investor that are receivable by the Company as of December 31, 2017. During the six months ended December 31, 2017, the Company sold 3,570,000 88,927 |