Note 7 - Common Stock | Note 7Common Stock Our authorized capital stock consists of 300,000,000 shares of common stock, with a par value of $0.001 per share, and 10,000,000 preferred shares with a par value of $0.001 per share. On May 21, 2018, the Board approved the issuance of1,300,000 common stock plan options with an exercise price of $0.08 per share. The options were granted to replace Mr. Mathers 1,000,000 options which expired on March 19, 2018. The term of the new options is 7 years and vest immediately. The Black-Scholes pricing model was used to estimate the fair value of the 1,300,000 options issued during the period, using the assumptions of a risk free interest rate of 1.1%, dividend yield of 0%, volatility of 295%, and an expected life of 7 years. We have determined these options to have an approximate fair value of $91,000. These options have been expensed in full during the quarter ended June 30, 2018. At June 30, 2018 Common Stock Options and Warrants A summary of the Company's stock option activity and related information for the two year period ended June 30, 2018 is as follows: Options Price Range Weighted Average Remaining Life (Years) Outstanding March 31, 2016 7,350,000 $ 0.06 - 0.14 6.78 Granted - - - Cancelled/Expired - - - Exercised - - - Outstanding March 31, 2017 7,350,000 $ 0.06 0.14 6.78 Granted - - - Cancelled/Expired $ 0.14 - Exercised - - - Outstanding March 31, 2018 6,350,000 0.06 0.13 6.69 Granted 1,300,000 $ 0.07 6.69 Cancelled/Expired - - - Exercised - - - Outstanding June 30, 2018 7,650,000 0.06 0.13 6.69 A summary of the Company's stock warrant activity and related information for the two year period ended June 30, 2018 is as follows: Warrants Price Range Weighted Average Remaining Life (Years) Outstanding March 31, 2016 1,500,000 $ 0.11 0.17 Granted - - - Cancelled/Expired/Exercised - - - Outstanding March 31, 2017 1,500,000 $ 0.11 0.17 Granted - - - Cancelled/Expired (1,500,000) 0.11 0.17 Exercised - - - Outstanding March 31, 2018 and June 30, 2018 - - - Exercisable March 31, 2018 and June 30, 2018 - $ - - |