MV Portfolios (MVP) 10-Q 17 Apr 17 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2015	Mar. 31, 2017
Details
Registrant Name	MV PORTFOLIOS, INC.
Registrant CIK	1,363,573
SEC Form	10-Q
Period End date	Dec. 31, 2015
Fiscal Year End	--06-30
Trading Symbol	mvp
Tax Identification Number (TIN)	830,483,725
Number of common stock shares outstanding		84,230,628
Filer Category	Smaller Reporting Company
Current with reporting	No
Voluntary filer	No
Well-known Seasoned Issuer	No
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Incorporation, State Country Name	Nevada
Entity Address, Address Line One	2850 Isabella Boulevard
Entity Address, Address Line Two	Suite 50
Entity Address, City or Town	Jacksonville Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32,250
City Area Code	904
Local Phone Number	903-4504

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Current assets:
Cash	$ 29,647	$ 8,508
Assets	29,647	8,508
Current liabilities:
Accounts payable and accrued expenses	1,165,705	1,364,426
Derivative liabilities	0	11,700
Total current liabilities	1,179,707	1,376,126
Stockholders' deficit:
Common stock, par value $0.001 per share, 300,000,000 shares authorized; 11,026,013 shares issued and outstanding	3,558,104	1,558,104
Additional paid-in capital	19,723,146	19,373,044
Retained Earnings (Accumulated Deficit)	(24,315,221)	(22,298,998)
Total stockholders' deficit attributable to MV Portfolios, Inc.	(1,021,168)	(1,355,047)
Total stockholders equity attributable to noncontrolling interest	(119,892)	(12,571)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(1,141,060)	(1,367,618)
Total liabilities and stockholders' deficit	29,647	8,508
Short term debt - related party	5,000	0
Series A Preferred Stock
Stockholders' deficit:
Preferred Stock, Value, Issued	8,000	8,000
Series B Preferred Stock
Stockholders' deficit:
Preferred Stock, Value, Issued	749	749
Series C Preferred Stock
Stockholders' deficit:
Preferred Stock, Value, Issued	4,034	4,034
Series D Preferred Stock
Stockholders' deficit:
Preferred Stock, Value, Issued	$ 20	$ 20

Consolidated Balance Sheets (u3

Consolidated Balance Sheets (unaudited) - Parenthetical - $ / shares	Dec. 31, 2015	Jun. 30, 2015
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares, Issued	44,872,211	24,872,211
Common Stock, Shares, Outstanding	44,872,211	24,872,211
Series A Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	8,000,000	8,000,000
Preferred Stock, Shares Outstanding	8,000,000	8,000,000
Series B Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	3,592,238	3,592,238
Preferred Stock, Shares Issued	749,740	749,740
Preferred Stock, Shares Outstanding	749,740	749,740
Series C Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	4,033,077	4,033,077
Preferred Stock, Shares Outstanding	4,033,077	4,033,077
Series D Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	20,000	20,000
Preferred Stock, Shares Outstanding	20,000	20,000

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Other income (expenses):
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest			$ (2,100,398)	$ (14,838,829)
MV Portfolios, Inc. and Subsidiaries
Operating Expenses:
General and administrative	$ 1,077,461	$ 5,415,391	2,112,098	12,342,518
Loss from operations	1,077,461	5,415,391	2,112,098	12,342,518
Other income (expenses):
Interest expense	0	0	0	(4,629,943)
Gain on change in fair value of derivative liabilities	900	2,055,637	11,700	2,137,240
Total other expenses, net	900	(2,055,637)	11,700	(2,492,703)
Loss from continuing operations	(1,076,561)	(3,359,754)	(2,100,398)	(14,835,221)
Loss from discontinued operations	0	(3,167)	0	(3,608)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(1,076,561)	(3,362,921)	(2,100,398)	(14,838,829)
Net Income (Loss) Attributable to Noncontrolling Interest	(59,546)	0	(84,175)	0
Net Income (Loss) Attributable to Parent	$ (1,017,015)	$ (3,362,921)	$ (2,016,223)	$ (14,838,829)
Basic and diluted net loss per share:
Loss from continuing operations per share	$ (0.03)	$ (0.15)	$ (0.06)	$ (0.86)
Loss from discontinued operations per share	0	0	0	0
Net loss per share	$ (0.03)	$ (0.15)	$ (0.06)	$ (0.86)
Weighted average number of common shares outstanding - basic and diluted	39,506,994	21,931,662	32,728,733	17,258,675

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (2,100,398)	$ (14,838,829)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation	0	441
Impairment of mining rights	0	450,000
Loss on disposal of assets held for sale	0	3,167
Amortization of debt discounts and deferred financing	0	4,561,099
Gain on change in fair value of derivative liabilities	(11,700)	(2,137,240)
Options expense	1,141,329	5,507,151
Stock based compensation	0	3,676,000
Warrants issued for services	0	305,837
Warrants expense	152,167	0
Loss on common stock issued for liabilities	105,000
Loss on common stock issued for liabilities	0	229,850
Loss on Series B preferred stock issued for liabilities	0	220,470
Changes in operating assets and liabilities:
Prepaid expenses	0	214,213
Accounts payable and accrued expenses	181,281	659,891
Net cash used in operating activities	(527,321)	(1,147,950)
Cash flows from financing activities:
Proceeds from related party debt	5,000	0
Stockholder contributions	420,000	0
Proceeds from Noncontrolling Interests	128,460	0
Repayment of convertible notes	0	(300,000)
Net cash (used) provided by financing activities	548,460	(300,000)
Net increase (decrease) in cash	21,139	(1,447,950)
Cash, beginning of period	8,508	1,468,401
Cash, end of period	29,647	20,451
Supplemental disclosures of cash flow information:
Interest paid	0	0
Income taxes paid	0	0
Non-cash investing and financing activities:
Conversion of convertible notes to Series C preferred stock	0	3,660,000
Beneficial conversion feature	0	3,660,000
Common stock issued to related party for mining rights	0	450,000
Common stock issued for exchange of warrants	0	400,000
Conversion of Series C preferred stock to common stock	0	368,418
Common stock issued for liabilities	(485,000)	339,009
Conversion of convertible notes to Series B	0	325,000
Series B preferred stock issued for liabilities	0	300,000
Conversion of accrued interest to Series C preferred stock	0	198,578
Conversion of Series B preferred stock to common stock	0	122,125
Conversion of accrued interest to Series B preferred stock	$ 0	$ 26,271

1. Interim Financial Statements

1. Interim Financial Statements	6 Months Ended
	Dec. 31, 2015
Notes
1. Interim Financial Statements	1. Interim Financial Statements The unaudited consolidated financial statements of MV Portfolios, Inc. and Subsidiaries (collectively the “Company”) as of December 31, 2015 and for the six month periods ended December 31, 2015 and 2014 have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The consolidated balance sheet of the Company at June 30, 2015 has been derived from the audited financial statements at that date, but does not include all of the information and notes required by accounting principles generally accepted in the United States for complete financial statements. All adjustments that, in the opinion of management, are necessary for a fair presentation for the periods presented have been reflected as required by the SEC. Such adjustments are of a normal, recurring nature. It is suggested that these unaudited consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended June 30, 2015. The results of operations for interim periods are not necessarily indicative of the operating results to be expected for the full year or any other interim period.

2. General Organization and Bus

2. General Organization and Business	6 Months Ended
	Dec. 31, 2015
Notes
2. General Organization and Business	2. General Organization and Business MV Portfolios, Inc. and subsidiaries (collectively the “Company”) is a Nevada corporation. The Company was an exploration stage mining company with a focus on the identification, acquisition and development of rare and precious metals mining properties in the Americas. On February 7, 2014, the Company entered into a securities exchange agreement (the “Securities Exchange”) with MVP Portfolio, LLC (“MVP Portfolio”), a Florida limited liability company, MV Patents, LLC (“MV Patents”), a Florida limited liability company and majority member of MVP Portfolio, and other members of MVP Portfolio (all such members collectively, the “Members”). Pursuant to the Securities Exchange, the Members sold all of their membership interests in MVP Portfolio to the Company in exchange for an aggregate of 9,385,000 shares of common stock, $0.10 par value per share, after taking into account the 1 for 100 reverse stock split (the “Reverse Split”) of the Company’s issued and outstanding common stock. Following the Securities Exchange, the Company assumed the additional line of business of MVP Portfolio. The Securities Exchange was consummated in anticipation of a 1 for 100 Reverse Split. As the share exchange is dependent upon the Reverse Split, all share and per share amounts herein have been retroactively restated to reflect the 1 for 100 Reverse Split as if it has been effected during all periods presented. MV Patents, formed on July 11, 2011 has limited operations. MVP Portfolio was formed on July 26, 2013 as a wholly owned subsidiary of MV Patents. On August 30, 2013, MV Patents transferred a portion of its patents without recourse to MVP Portfolio. Pursuant to the Securities Exchange on February 7, 2014, MVP Portfolio ceased to be a subsidiary of MV Patents and became a wholly owned subsidiary of the Company. MV Patents is deemed to be the predecessor entity to MVP Portfolio. On March 6, 2014, MVP Portfolio changed its form of organization to a Florida corporation from a Florida limited liability company, and changed its name to Visual Real Estate, Inc. (“VRE”). VRE has historically maintained a June 30 fiscal year, through MV Patents, the predecessor business to MVP Portfolio. VRE has not commenced its planned principal operations, the business of patent licensing and assertion of rights under patents against parties believed to be selling goods or services that rely upon VRE’s patented technology. VRE owns a patent portfolio it refers to as “Video Drive-by” and online mapping, which has previously been used by its predecessors and licensees commercially. VRE currently owns a patent portfolio consisting of eight (8) issued and sixteen (16) pending patents. The patents disclose systems and methods for providing video drive-by data to enable a street level view of a neighborhood surrounding a geographic location. The systems include, generally, a video and data server farm incorporating at least one (1) video storage server that stores video image files containing video drive-by data corresponding to a geographic location, a data base server that processes a data query received from a user over the internet and an image processing server. VRE’s activities since inception have consisted principally of acquiring additional technology patents and raising capital. Subsequent to the Securities Exchange, the Company changed its fiscal year end to June 30, which is VRE’s year end. On November 20, 2014, the Company formed a wholly owned subsidiary, Flexine, Inc., which will explore productization potential from a patent from Harvard University for a novel material that may be used to create a unique variable focus lens for SmartPhone cameras. On November 20, 2014, the Company formed a wholly owned subsidiary, ResoCator, Inc.(which name was changed to LocatorX, Inc. in March 2016), which will explore productization potential from a patent from the University of Oxford for a Miniature Atomic Clock (“MAC”). MV Portfolios, Inc. has signed an option agreement for US Patent 82217724 with ISIS Innovations (University of Oxford’s patent licensing company).

3. Going Concern

3. Going Concern	6 Months Ended
	Dec. 31, 2015
Notes
3. Going Concern	3. Going Concern The Company is engaged in limited operations. The ongoing business plan of the Company is to assert its intellectual property rights to monetize its patents through net recoveries. Net recoveries relate to monetary payments received by the Company in respect to its patents through judgments, settlements, royalty agreements, or other disposition of the patents or cash proceeds of any equity actually received as consideration for any such disposition, including those received in connection with litigation. The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As shown in the accompanying consolidated financial statements, the Company has incurred losses for all periods presented, as the ongoing business has not yet commenced. The Company has not established an ongoing source of revenues and has funded activities to date primarily from convertible notes and common stock offerings. In addition, the Company had a working capital deficit as of December 31, 2015. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company is subject to a number of risks including, but not limited to, the need to obtain adequate funding and possible risk of failure to monetize its patents. If the Company does not successfully monetize its patents, it will be unable to generate revenues or achieve profitability. Management’s plan with respect to funding the ongoing operations is to secure equity financing through access to U.S. capital markets as a registrant of the U.S. Securities and Exchange Commission. While the Company believes, it will be successful in obtaining the necessary financing to (i) fund its operations, (ii) monetize its patents and meet revenue projections and (iii) manage costs, it does not currently have any financing plans in place and there are no assurances that such additional funding will be achieved and that it will succeed in its future operations. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might be necessary should the Company be unable to continue as a going concern. Operating results for the three-month period ended December 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2016.

4. Discontinued Operations

4. Discontinued Operations	6 Months Ended
	Dec. 31, 2015
Notes
4. Discontinued Operations	4. Discontinued Operations Pursuant to the Securities Exchange, the pre-existing mining business was discontinued. On April 28, 2014 the Company notified Mexivada Mining Corp. and Compania Minera Mexivada S.A de C.V., of termination of the Mexivada Property Option Agreement dated as of February 11, 2011, as amended October 24, 2011, and that the Company would not pay any further fees or expenses associated with the Agreement. The remaining interests were sold on July 24, 2014. The following table presents summarized operating results for these discontinued operations. The table below does not present MV Patents because the historical financial information represents the activity of MV Patents as the predecessor business to VRE, and does not include any of the operations of the discontinued exploration stage mining business. The historical financial information for MV Patents for the six months ended December 31, 2014 is included in the accompanying consolidated financial statements. Three Months Ended Three Months Ended Six Months Ended Six Months Ended December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 Loss from discontinued operations - (3,167) - (3,608)

5. Related Party Transactions

5. Related Party Transactions	6 Months Ended
	Dec. 31, 2015
Notes
5. Related Party Transactions	5. Related Party Transactions Officer and director fees totaled $215,000 and $215,000 for the six month periods ended December 31, 2015 and 2014, respectively. The total compensation of officers and directors was recorded as a component of general and administrative expenses. As of December 31, 2015, the Company owed its officers and directors $310,531 for compensation which was recorded as accounts payable and accrued liabilities in its consolidated balance sheets. In July 2015, the Company had borrowed $5,000 from their officer. The note is due on demand, and bears no interest.

6. Derivative Liabilities

6. Derivative Liabilities	6 Months Ended
	Dec. 31, 2015
Notes
6. Derivative Liabilities	6. Derivative Liabilities As of December 31, 2015 and June 30, 2015, there were 2,965,705 and 2,965,705 outstanding derivative warrants, respectively, with 1,475,043 and 1,475,043 common shares issuable upon exercise, respectively. The warrants qualify as derivative liabilities due to the existence of reset provisions which cause the instruments to no longer be indexed to the Company’s own stock under FASB ASC 815. The Company estimated the fair value of the outstanding derivative warrants using a probability-weighted scenario analysis model. As of December 31, 2015 and June 30, 2015, the fair value of the derivative warrants was determined to be $0 and $11,700, respectively resulting in a gain on the change in the fair value of derivative liabilities of $11,700 for the three month period ended December 31, 2015. The following is a summary of the key assumptions used in the probability-weighted scenario analysis model to estimate the fair value of the warrants as of December 31, 2015 and June 30, 2015: 31-Dec-15 30-Jun-15 Common stock issuable upon exercise of warrants 1,475,043 1,475,043 Exercise price $ 1.35 $ 1.06and$1.35 Market price of the Company’s common stock $ 0.06 $ 0.12 Risk free interest rate 0.01 % 0.11 % Dividend yield 0.00 % 0.00 % Expected stock price volatility 213.31 % 211 % Expected term (years) 0.00-0.54years 0.48-1.04years See Note 7 for fair value hierarchy of the derivative liabilities.

7. Fair Value Measurements

7. Fair Value Measurements	6 Months Ended
	Dec. 31, 2015
Notes
7. Fair Value Measurements	7. Fair Value Measurements As defined in FASB ASC Topic 820, fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This Topic requires disclosure that establishes a framework for measuring fair value and expands disclosure about fair value measurements. The statement requires fair value measurements be classified and disclosed in one of the following categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Pricing inputs other than quoted market prices included in Level 1 that are based on observable market data and are directly or indirectly observable for substantially the full term of the asset or liability. These include quoted market prices for similar assets or liabilities, quoted market prices for identical or similar assets in markets that are not active, adjusted quoted market prices, inputs from observable data such as interest rate and yield curves, volatilities or default rates observable at commonly quoted intervals or inputs derived from observable market data by correlation or other means. Level 3: Pricing inputs that are unobservable or less observable from objective sources. Unobservable inputs should only be used to the extent observable inputs are not available. These inputs maintain the concept of an exit price from the perspective of a market participant and should reflect assumptions of other market participants. An entity should consider all market participant assumptions that are available without unreasonable cost and effort. These are given the lowest priority and are generally used in internally developed methodologies to generate management's best estimate of the fair value when no observable market data is available. Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels. Certain assets and liabilities are reported at fair value on a recurring or non-recurring basis in the Company’s consolidated balance sheets. The following methods and assumptions were used to estimate the fair values: Cash, Prepaid expenses, Accounts payable, Accrued liabilities The carrying amounts approximate fair value because of the short-term nature or maturity of the instruments. Derivative liabilities The Company’s determination of fair value of its derivative instruments incorporates various factors required under FASB Topic ASC 815. See Note 6 for the fair value calculations. The fair values of the Company’s derivatives are valued using less observable data from objective sources as inputs into internal valuation models. Therefore, the Company considers the fair value of its derivatives to be Level 3 hierarchy. The following table sets forth the fair value hierarchy within our financial assets and liabilities by level that they were accounted for at fair value on a recurring basis as of December 31, 2015 and June 30, 2015: Fair Value Measurement at December 31, 2015 Level 1 Level 2 Level 3 Liabilities: Warrant derivative liabilities - - - Fair Value Measurement at June 30, 2015 Level 1 Level 2 Level 3 Liabilities: Warrant derivative liabilities - - 11,700 The following table sets forth the changes in the fair value of derivative liabilities for the three month period ended December 31, 2015: Balance, June 30, 2015 $ 11,700 Change in fair value of derivative liabilities (11,700) Balance, December 31, 2015 $ -

8. Stockholders' Equity

8. Stockholders' Equity	6 Months Ended
	Dec. 31, 2015
Notes
8. Stockholders' Equity	8. Stockholders’ Equity During the period from September to November 2015, the Company issued 10,500,000 common shares for a total cash consideration of $420,000 and 5,250,000 warrants to purchase up to an additional 2,625,000 common shares at $0.06 per share through a private placement of securities. During the period from September to November 2015, the Company issued 9,500,000 common shares for a total fair value of $485,000 to settle $380,000 liabilities, and recognized a loss of $105,000. In addition, the Company issued 4,750,000 warrants to purchase up to an additional 2,375,000 common shares at $0.06 per share

10. Stock Options and Warrants

10. Stock Options and Warrants	6 Months Ended
	Dec. 31, 2015
Notes
10. Stock Options and Warrants	9. Stock Options and Warrants Options On February 7, 2014, the Company’s Board of Directors voted to terminate the 2007 Stock Option Plan and adopted the 2014 Equity Incentive Plan (the “2014 Plan”), which provides for the issuance of incentive awards of up to 6,150,564 shares of the Company’s Common Stock to officers, key employees, consultants and directors. The options’ exercise price will be no less than the closing price of the Company’s shares on the day of issuance. When incentive stock options are granted to an employee who, at the time the incentive stock option is granted, owns stock representing more than 10% of the voting power of all classes of stock of the Company, the per share exercise price will be no less than 110% of the closing price of the Company’s shares on the day of issuance. On February 7, 2014, the Company granted an aggregate of 4,690,339 common stock options to certain officers and advisors of the Company. The stock options were granted upon the effectuation of the Reverse Split on September 8, 2014. The options are exercisable at $0.50 per share and expire on February 7, 2024. 3,690,339 of the option vest in twelve quarterly installments beginning February 7, 2014 and 1,000,000 of the options vest in twelve monthly installments beginning February 7, 2014. The total fair value of the award was estimated to be $9,380,675. On October 21, 2014, the Company granted an aggregate of 450,000 common stock options to certain officers and advisors of the Company. The options are exercisable at $0.50 per share and expire on October 21, 2024. The options vest in four annual installments beginning October 21, 2014. The estimated fair value of each option award granted was determined on the date of effectiveness of the grant using the Black-Scholes option valuation model. The following weighted-average assumptions were used for the options granted during the year ended June 31, 2015: 2015 Risk free interest rate 1.44% - 2.48% Expected stock price volatility 312.48% - 321.74% Dividend yield 0.00% Expected term (years) 2.5 - 5.9 years A summary of the status of the Company’s stock option plan as of December 31, 2015 and changes during the three months ended December 31, 2015 is as follows: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Term (Years) Total Intrinsic Value Outstanding as of June 30, 2015 5,140,339 $ 0.500 8.625 Granted - - Forfeited - - Outstanding as of December 31, 2015 5,140,339 $ 0.500 8.171 $ - Options vested and exercisable 2,961,031 $ 0.500 8.163 $ - From January through December 31, 2015, LocatorX granted an aggregate of 3,902,500 common stock options to certain consultants of the Company. The options are exercisable at $0.10 to $0.20 per share and expire on December 31, 2020. The options vest in twelve quarterly installments. The option expense for the six months ended December 31, 2015 was $2,426. Options totaling 187,500 shares were forfeited when consultants with vesting options did not have their contracts renewed. The estimated fair value of each option award granted was determined on the date of effectiveness of the grant using the Black-Scholes option valuation model. The fair value of the options is $283,109. The following weighted-average assumptions were used for the options granted during the year ended December 31, 2015: 2015 Risk-free interest rate 0.86% - 1.07% Expected volatility 73.58% - 93.57% Dividend yield 0.00% Expected option term 1.6 – 4.4 years A summary of the status of LocatorX’s stock options as of December 31, 2015 is as follows: Options Weighted Average Exercise Price Weighted Average Remaining Term (Years) Aggregate Intrinsic Value Outstanding at June 30, 2015 300,000 $ 0.100 5.517 Forfeited 187,500 0.100 Granted 3,790,000 0.200 Outstanding at December 31, 2015 3,902,500 0.190 3.179 $ - Exercisable at December 31, 2015 74,997 $ 0.100 5.008 $ - MV Portfolios Warrants The following table presents the warrant activity during the six month period ended December 31, 2015 presented on a post 1 for 100 Reverse Split basis: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Term (Years) Total Intrinsic Value Outstanding as of June 30, 2015 2,965,343 $ 1.118 1.919 $ - Granted 10,000,000 0.06 Forfeited (569,978) 1.352 Outstanding as of December 31, 2015 12,400,546 $ 0.115 1.779 $ - Warrants vested and exercisable 12,400,546 $ 0.115 1.779 $ - The estimated fair value of $ _____ for the warrants was determined on the date of effectiveness of the grant using the Black-Scholes option valuation model. The following weighted-average assumptions were used for the warrants for the six months ended December 31, 2015: 2015-2016 Risk-free interest rate 0.86% - 1.07% Expected volatility 73.58% - 93.57% Dividend yield 0.00% Expected option term 1.6 – 4.4 years

10. Retirement Plan

10. Retirement Plan	6 Months Ended
	Dec. 31, 2015
Notes
10. Retirement Plan	10. Retirement Plan Effective January 1, 2014, the Company adopted a qualified 401(k) deferred compensation plan, with deferrals beginning in June 2014. All employees who are eighteen years or older and have worked for at least three consecutive months are eligible to participate in the plan. The plan provides for mandatory safe-harbor matching contributions and discretionary non-elective contributions as determined by management. The Company did not elect to make any contributions for the six month period ended December 31, 2015.

11. Commitments and Contingenci

11. Commitments and Contingencies	6 Months Ended
	Dec. 31, 2015
Notes
11. Commitments and Contingencies	11. Commitments and Contingencies Concentration of Credit Risk The Company maintains its cash in a restricted escrow account in an institution insured by the Federal Deposit Insurance Corporation and, at times, balances may exceed government insured limits. The Company has never experienced any losses related to these balances. Employment Agreements The Company has employment agreements with two employees and a separate consulting agreement with one of the Company’s executive officers. The aggregate future commitment under these agreements is as follows: Calendar Year Commitments 2016 430,000 2017 44,767 $ 474,767 These agreements provide for additional bonus payments that are calculated as defined. Other The Company is involved in various legal proceedings and litigation arising in the ordinary course of business. In the opinion of management and legal counsel, the outcome of such proceedings and litigation may have a material adverse effect on the Company's consolidated financial statements. On November 16, 2015 SiberLaw LLP filed for a default judgement against Visual Real Estate, Inc. for a liquidated amount of $146,736.43. The Duval county Florida court ruled in SiberLaw ’ s favor, and the amount recorded as a liability on the balance sheet. SiberLaw registered a lien at the US Patent Trademark Office for all patents owned by the Company ’ s subsidiary Visual Real Estate Inc. These patents relate to Video Drive By family of patents including US Patents Pursuant to the Securities Exchange the Company agreed to pay the members of MV Patents ten (10%) percent of the net proceeds to be received from any enforcement activities or sales transactions related to the patents owned or applications pending as of the closing of the Securities Exchange. Outstanding shares of common stock includes 150,000 shares that contain nonstandard anti-dilution provisions which reset with future issuances of common stock if the Company issues any common stock, or securities convertible into or exercisable for shares of common stock, at a price per share or conversion or exercise price per share less than $2.00. These anti-dilution rights matured on March 31, 2015.

12. Subsequent Events

12. Subsequent Events	6 Months Ended
	Dec. 31, 2015
Notes
12. Subsequent Events	12. Subsequent Events During the month of June 2016, the subsidiary LocatorX issued 1,030,000 options, with exercise price $0.20/share, and vesting term from 8 equal installments over 3 years, to 1 installment over 1 quarter. During the period from July 2015 to April 2016, the subsidiary LocatorX issued 176,732 shares in exchange for $353,464 cash.” “In May 2016, the Company issued a convertible note for $25,000. Along with the debt offering, the Company also issued 1,666,667 warrants. The warrants were exercisable immediately with an exercise price of $0.06 per share and has an expiration date of May 26, 2021.” In June 2016, the Company issued 105,611 common shares upon the conversion of 105,611 shares of Series C preferred stock. In October, 2016, the Company issued 52,806 common shares upon the conversion of 52,806 shares of Series C preferred stock. On September 1, 2016, the Company formed a wholly owned subsidiary, Rabbit Drones, Inc. (which name was changed to 1 st In the period from November to December 2016, the Company issued 15,475,000 common shares for a consideration of $309,500 and 15,475,000 warrants to purchase up to an additional 7,737,500 common shares with an exercise price of $0.06/share through a private placement of securities. In addition, 11,225,000 additional common shares are to be deferred and issued at a later date. In total 26,700,000 were sold for cash. In connection with this private placement of securities, the Company agreed to become current with the reporting obligations under Section 12(g) of the Exchange Act and file all reports due thereunder. In January 2017, the Company entered into employment agreements with the Chief Executive Officer and Chief Financial Officer. In connection with the employment agreements, options to purchase up to 10,000,000 common shares at $0.06 per share were issued. In March 2017, the Subsidiary LocatorX issued 580,000 options with exercise price of $0.4/share to $1.2/share, and vesting term from fully vested immediately to 8 installments over 2 years. In January 2017, the subsidiary LocatorX entered into royalty fee agreement that replaced the prior royalty fee agreement . The royalty fee agreement has a variable royalty fee based on the annual earned royalty ranging from 10.0% to 5.0%, with a minimum annual royalty fee of $60,000, and options to purchase 2,000,000 shares at an exercise price of $1.20/share. In March 2017, the Company issued 4,400,000 common shares through a private placement of securities for a total consideration of $88,000, and issued warrants to purchase up to an additional 2,200,000 shares at $0.06 per share. In March 2017, the Company issued 5,600,000 common shares to its officer to settle accrued salary for the amount of $112,000. In March 2017, the Company issued 2,500,000 common shares to a third party for consulting services valued at $50,000. In March 2017, the Company issued 85,000 Series E shares with 1000 to 1 voting rights pursuant to the November 2016 private placement of securities.

4. Discontinued Operations_ Sch

4. Discontinued Operations: Schedule of Gain/Loss from Discontinued Operations (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Gain/Loss from Discontinued Operations	Three Months Ended Three Months Ended Six Months Ended Six Months Ended December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 Loss from discontinued operations - (3,167) - (3,608)

6. Derivative Liabilities_ Sche

6. Derivative Liabilities: Schedule of Assumptions Used (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Assumptions Used	31-Dec-15 30-Jun-15 Common stock issuable upon exercise of warrants 1,475,043 1,475,043 Exercise price $ 1.35 $ 1.06and$1.35 Market price of the Company’s common stock $ 0.06 $ 0.12 Risk free interest rate 0.01 % 0.11 % Dividend yield 0.00 % 0.00 % Expected stock price volatility 213.31 % 211 % Expected term (years) 0.00-0.54years 0.48-1.04years

7. Fair Value Measurements_ Sch

7. Fair Value Measurements: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Fair Value Measurement at December 31, 2015 Level 1 Level 2 Level 3 Liabilities: Warrant derivative liabilities - - - Fair Value Measurement at June 30, 2015 Level 1 Level 2 Level 3 Liabilities: Warrant derivative liabilities - - 11,700

7. Fair Value Measurements_ Fai

7. Fair Value Measurements: Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation	Balance, June 30, 2015 $ 11,700 Change in fair value of derivative liabilities (11,700) Balance, December 31, 2015 $ -

10. Stock Options and Warrants_

10. Stock Options and Warrants: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	2015 Risk free interest rate 1.44% - 2.48% Expected stock price volatility 312.48% - 321.74% Dividend yield 0.00% Expected term (years) 2.5 - 5.9 years

10. Stock Options and Warrant23

10. Stock Options and Warrants: Share-based Compensation, Stock Options, Activity (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Share-based Compensation, Stock Options, Activity	Number of Shares Weighted Average Exercise Price Weighted Average Remaining Term (Years) Total Intrinsic Value Outstanding as of June 30, 2015 5,140,339 $ 0.500 8.625 Granted - - Forfeited - - Outstanding as of December 31, 2015 5,140,339 $ 0.500 8.171 $ - Options vested and exercisable 2,961,031 $ 0.500 8.163 $ -

10. Stock Options and Warrant24

10. Stock Options and Warrants: Schedule of Subsidiary Share-based Payment Award, Stock Options, Valuation Assumptions (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Subsidiary Share-based Payment Award, Stock Options, Valuation Assumptions	2015 Risk-free interest rate 0.86% - 1.07% Expected volatility 73.58% - 93.57% Dividend yield 0.00% Expected option term 1.6 – 4.4 years

10. Stock Options and Warrant25

10. Stock Options and Warrants: Share-based Compensation, Activity (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Share-based Compensation, Activity	Options Weighted Average Exercise Price Weighted Average Remaining Term (Years) Aggregate Intrinsic Value Outstanding at June 30, 2015 300,000 $ 0.100 5.517 Forfeited 187,500 0.100 Granted 3,790,000 0.200 Outstanding at December 31, 2015 3,902,500 0.190 3.179 $ - Exercisable at December 31, 2015 74,997 $ 0.100 5.008 $ -

10. Stock Options and Warrant26

10. Stock Options and Warrants: Schedule of Other Share-based Compensation, Activity (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Other Share-based Compensation, Activity	Number of Shares Weighted Average Exercise Price Weighted Average Remaining Term (Years) Total Intrinsic Value Outstanding as of June 30, 2015 2,965,343 $ 1.118 1.919 $ - Granted 10,000,000 0.06 Forfeited (569,978) 1.352 Outstanding as of December 31, 2015 12,400,546 $ 0.115 1.779 $ - Warrants vested and exercisable 12,400,546 $ 0.115 1.779 $ -

10. Stock Options and Warrant27

10. Stock Options and Warrants: Schedule of Share-based Payment Award, Warrants, Valuation Assumptions (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Schedule of Share-based Payment Award, Warrants, Valuation Assumptions	2015-2016 Risk-free interest rate 0.86% - 1.07% Expected volatility 73.58% - 93.57% Dividend yield 0.00% Expected option term 1.6 – 4.4 years

11. Commitments and Contingen28

11. Commitments and Contingencies: Aggregate future commitment under employment agreements (Tables)	6 Months Ended
	Dec. 31, 2015
Tables/Schedules
Aggregate future commitment under employment agreements	2016 430,000 2017 44,767 $ 474,767

2. General Organization and B29

2. General Organization and Business (Details)	6 Months Ended
	Dec. 31, 2015$ / sharesshares
Details
Stock Issued During Period, Shares, Acquisitions | shares	9,385,000
Business Acquisition, Share Price | $ / shares	$ 0.10
Stockholders' Equity, Reverse Stock Split	1 for 100

4. Discontinued Operations_ S30

4. Discontinued Operations: Schedule of Gain/Loss from Discontinued Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Details
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	$ 0	$ (3,167)	$ 0	$ (3,608)

5. Related Party Transactions (

5. Related Party Transactions (Details) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Details
Officers' Compensation	$ 215,000	$ 215,000
Accrued Salaries, Current	$ 310,531

6. Derivative Liabilities (Deta

6. Derivative Liabilities (Details) - USD ($)	6 Months Ended
	Dec. 31, 2015	Jun. 30, 2015
Details
Class of Warrant or Right, Outstanding	2,965,705	2,965,705
Common shares issuable upon exercise, derivative warrants	1,475,043	1,475,043
Derivative, Fair Value, Net	$ 0	$ 11,700
Gain on change in Fair value of Derivative Liablities	$ 11,700

6. Derivative Liabilities_ Sc33

6. Derivative Liabilities: Schedule of Assumptions Used (Details) - $ / shares	Dec. 31, 2015	Jun. 30, 2015
Common stock issuable upon exercise of warrants	1,475,043	1,475,043
Market price of the Company's common stock	$ 0.06	$ 0.12
Fair Value Assumptions, Risk Free Interest Rate	0.01%	0.11%
Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Fair Value Assumptions, Expected Volatility Rate	213.31%	211.00%
Minimum
Fair Value Assumptions, Expected Term	0 years	5 months 23 days
Maximum
Fair Value Assumptions, Expected Term	6 months 14 days	1 year 14 days

7. Fair Value Measurements_ S34

7. Fair Value Measurements: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Derivative liabilities	$ 0	$ 11,700
Fair Value, Inputs, Level 1
Derivative liabilities	0	0
Fair Value, Inputs, Level 2
Derivative liabilities	0	0
Fair Value, Inputs, Level 3
Derivative liabilities	$ 0	$ 11,700

7. Fair Value Measurements_ F35

7. Fair Value Measurements: Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation (Details)	6 Months Ended
	Dec. 31, 2015USD ($)
Details
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Beginning Balance	$ 11,700
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	(11,700)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Ending Balance	$ 0

10. Stock Options and Warrants

10. Stock Options and Warrants (Details)	6 Months Ended
	Dec. 31, 2015$ / sharesshares
On February 7, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares	4,690,339
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0.50
On October 21, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares	450,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0.50

10. Stock Options and Warrant37

10. Stock Options and Warrants: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	Dec. 31, 2015	Jun. 30, 2015
Fair Value Assumptions, Risk Free Interest Rate	0.01%	0.11%
Fair Value Assumptions, Expected Volatility Rate	213.31%	211.00%
Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Minimum
Fair Value Assumptions, Expected Term	0 years	5 months 23 days
Maximum
Fair Value Assumptions, Expected Term	6 months 14 days	1 year 14 days

10. Stock Options and Warrant38

10. Stock Options and Warrants: Share-based Compensation, Stock Options, Activity (Details) - Options Held	6 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance	5,140,339
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 0.500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	5,140,339
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 0.500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	8 years 2 months 2 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $	$ 0
Exercisable at end of period	2,961,031
WeightedAverageExercisePriceExercisable	0.500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	8 years 1 month 29 days
ExercisableAtEndOfPeriod	0

10. Stock Options and Warrant39

10. Stock Options and Warrants: Schedule of Subsidiary Share-based Payment Award, Stock Options, Valuation Assumptions (Details)	Dec. 31, 2015	Jun. 30, 2015
Fair Value Assumptions, Risk Free Interest Rate	0.01%	0.11%
Fair Value Assumptions, Expected Volatility Rate	213.31%	211.00%
Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Minimum
Fair Value Assumptions, Expected Term	0 years	5 months 23 days
Maximum
Fair Value Assumptions, Expected Term	6 months 14 days	1 year 14 days

10. Stock Options and Warrant40

10. Stock Options and Warrants: Share-based Compensation, Activity (Details) - LocatorX stock options	6 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance	300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 0.100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	187,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares	$ 0.100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	3,790,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0.200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	3,902,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 0.190
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 2 months 4 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $	$ 0
Exercisable at end of period	74,997
WeightedAverageExercisePriceExercisable	0.100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 3 days
ExercisableAtEndOfPeriod	0

10. Stock Options and Warrant41

10. Stock Options and Warrants: Schedule of Other Share-based Compensation, Activity (Details) - Warrant	6 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance	2,965,343
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 1.118
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	10,000,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0.06
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	12,400,546
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 0.115
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	1 year 9 months 10 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $	$ 0
Exercisable at end of period	12,400,546
WeightedAverageExercisePriceExercisable	0.115
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	1 year 9 months 10 days
ExercisableAtEndOfPeriod	0

10. Stock Options and Warrant42

10. Stock Options and Warrants: Schedule of Share-based Payment Award, Warrants, Valuation Assumptions (Details)	Dec. 31, 2015	Jun. 30, 2015
Fair Value Assumptions, Risk Free Interest Rate	0.01%	0.11%
Fair Value Assumptions, Expected Volatility Rate	213.31%	211.00%
Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%

11. Commitments and Contingen43

11. Commitments and Contingencies: Aggregate future commitment under employment agreements (Details)	Dec. 31, 2015USD ($)
Employment Agreement Commitment, 12 month ending June 30,
Other Commitment, Due in Next Twelve Months	$ 430,000
Other Commitment, Due in Second Year	44,767
Employment agreement commitment	$ 474,767

11. Commitments and Contingen44

11. Commitments and Contingencies (Details)	6 Months Ended
	Dec. 31, 2015shares
Details
Commission rate to MV Patents	10.00%
Share subject to anti-dilution provisions	150,000

12. Subsequent Events (Details)

12. Subsequent Events (Details)	6 Months Ended
	Dec. 31, 2015shares
During the month of June 2016
Debt Conversion, Converted Instrument, Warrants or Options Issued	1,030,000
During the period from July 2015 to April 2016
Shares issued during period for cash	176,732
In May 2016
Debt Conversion, Converted Instrument, Warrants or Options Issued	1,666,667
Investment Warrants Expiration Date	May 26, 2021
In June 2016
Stock Issued During Period, Shares, Conversion of Convertible Securities	105,611
Conversion of Stock, Shares Converted	105,611
In October, 2016
Stock Issued During Period, Shares, Conversion of Convertible Securities	52,806
Conversion of Stock, Shares Converted	52,806
On September 1, 2016
Subsequent Event, Description	the Company formed a wholly owned subsidiary, Rabbit Drones, Inc.
In the period from November to December 2016
Debt Conversion, Converted Instrument, Warrants or Options Issued	15,475,000
Stock Issued During Period, Shares, Other	15,475,000
In January 2017 (1)
Subsequent Event, Description	the Company entered into employment agreements with the Chief Executive Officer and Chief Financial Officer
In March 2017 (1)
Debt Conversion, Converted Instrument, Warrants or Options Issued	580,000
In January 2017 (2)
Subsequent Event, Description	the subsidiary LocatorX entered into royalty fee agreement that replaced the prior royalty fee agreement
In March 2017 (2)
Stock Issued During Period, Shares, Other	4,400,000
In March 2017 (3)
Stock Issued During Period, Shares, Issued for Services	5,600,000
In March 2017 (4)
Stock Issued During Period, Shares, Issued for Services	2,500,000
In March 2017 (5)
Stock Issued During Period, Shares, Other	85,000