Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2017 | May 15, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | INTEGRAL TECHNOLOGIES INC | |
Entity Central Index Key | 1,018,281 | |
Trading Symbol | itkg | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 140,821,770 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2017 | Jun. 30, 2016 |
Current assets: | ||
Cash | $ 5,174 | $ 47,350 |
Accounts receivable | 26,372 | 21,894 |
Prepaid expense | 54,175 | 90,329 |
Total current assets | 85,721 | 159,573 |
Deposit | 2,500 | 2,500 |
Property and equipment, net | 75,065 | 74,689 |
Total Assets | 163,286 | 236,762 |
Current liabilities: | ||
Accounts payable and accrued expenses | 1,781,403 | 1,004,550 |
Related party payable | 397,243 | 30,000 |
Loans payable | 16,800 | 148,022 |
Deferred revenue | 50,000 | 50,000 |
Convertible debentures | 1,151,373 | 664,621 |
Derivative liabilities | 186,968 | 142,797 |
Warrant liability | 32,800 | 87,500 |
Total current liabilities | 3,616,587 | 2,127,490 |
Non-current liabilities: | ||
Deferred revenue, net of current portion | 283,333 | 320,833 |
Total Liabilities | 3,899,920 | 2,448,323 |
Commitments and Contingencies | ||
Stockholders' Deficit | ||
Preferred stock and paid-in capital in excess of $0.001 par value, 20,000,000 shares authorized, 0 (June 30, 2016 - 0) issued and outstanding | ||
Common stock and paid in capital in excess of $0.001 par value, 150,000,000 shares authorized, 140,402,603 (June 30, 2016 - 133,506,044) issued and outstanding | 56,110,035 | 55,024,270 |
Share subscriptions and obligations to issue shares | 382,244 | 340,184 |
Accumulated other comprehensive income | 46,267 | 46,267 |
Accumulated deficit | (60,275,180) | (57,622,282) |
Total stockholders' deficit | (3,736,634) | (2,211,561) |
Total Liabilities and Stockholders' Deficit | $ 163,286 | $ 236,762 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2017 | Jun. 30, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, shares issued (in shares) | 140,402,603 | 133,506,044 |
Common stock, shares outstanding (in shares) | 140,402,603 | 133,506,044 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue | $ 24,001 | $ 15,350 | $ 75,087 | $ 57,793 |
Operating expenses: | ||||
Selling, general, and administrative expenses | 629,582 | 717,841 | 1,829,327 | 2,228,549 |
Research and development | 120,753 | 155,379 | 371,667 | 500,628 |
Total operating expenses | 750,335 | 873,220 | 2,200,994 | 2,729,177 |
Fair value gain (loss) on derivative financial liabilities | (4,995) | (848,208) | 29,143 | (887,707) |
Fair value gain on warrant liability | 16,400 | 54,700 | ||
(Loss) gain on extinguishment of debt | (42,580) | 142,297 | (76,486) | 144,224 |
Other income | 364 | 4,908 | 473 | 5,091 |
Interest expense | (433,801) | (177,920) | (534,821) | (402,817) |
Net Loss | $ (1,190,946) | $ (1,736,793) | $ (2,652,898) | $ (3,812,593) |
Net loss per share – basic and diluted (in dollars per share) | $ (0.01) | $ (0.01) | $ (0.02) | $ (0.03) |
Weighted average number of common shares outstanding (in shares) | 138,081,400 | 118,844,465 | 141,333,616 | 116,950,725 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Cash flows from operating activities: | ||
Net loss | $ (2,652,898) | $ (3,812,593) |
Items not involving cash | ||
Accrued interest | 55,720 | 2,750 |
Amortization of debt issuance costs | 40,500 | 10,230 |
Deferred revenues | (37,500) | (37,500) |
Depreciation | 3,124 | 3,436 |
Fair value gain on warrant liability | (54,700) | |
Fair value (gain) loss on derivative financial liabilities | (29,143) | 887,707 |
Interest on convertible debentures | 433,945 | 380,577 |
Loss (gain) on extinguishment of debt | 76,486 | (144,224) |
Obligation to issue shares for services | 212,720 | 23,340 |
Stock-based compensation | 111,165 | 134,688 |
Stock issued for consulting fees | 6,220 | |
Changes in working capital | 1,175,772 | 622,905 |
Net cash used in operating activities: | (664,809) | (1,922,464) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (3,500) | (13,756) |
Net cash used in investing activities: | (3,500) | (13,756) |
Cash flows from financing activities: | ||
Proceeds from loans | 92,000 | 130,000 |
Repayment of loans | (110,022) | (66,641) |
Proceeds from issuance of common stock | 554,155 | 28,000 |
Proceeds from warrants exercised | 889,771 | |
Proceeds from convertible debentures | 90,000 | 838,950 |
Net cash provided Financing activities: | 626,133 | 1,820,080 |
(Decrease) increase in cash | (42,176) | (116,140) |
Cash, beginning of year | 47,350 | 117,307 |
Cash, end of year | 5,174 | 1,167 |
Supplemental cash flow information: | ||
Interest paid | $ 4,655 | $ 3,004 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1 NATURE OF OPERATIONS Integral Technologies, Inc. (the “Company” or “Integral”) was incorporated under the laws of the state of Nevada on February 12, 1996 has its head office in Evansville, Indiana, USA. The Company is in the business of researching, developing and commercializing new electrically-conductive resin-based materials called ElectriPlast, applications using ElectriPlast material, and its new line of electrostatic dissipative materials. The Company will be devoting all of its resources to the research, development and commercialization of its ElectriPlast technology and the applications using ElectriPlast. One of the key applications the Company is focused on developing is its proprietary bi-polar pate technology. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 SIGNIFICANT ACCOUNTING POLICIES These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are presented in United States dollars. We have prepared the consolidated financial statements included herein, without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The consolidated financial statements include the Company’s wholly owned subsidiaries. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed from the accompanying consolidated financial statements. The accompanying comparative year end consolidated balance sheet was derived from the audited financial statements included in the annual financial statements. The accompanying interim financial statements are unaudited, and reflect all adjustments which are in the opinion of management, necessary for a fair statement of the Company’s consolidated financial position, results of operations, and cash flows for the periods presented. Unless otherwise noted, all such adjustments are of a normal, recurring nature. All intercompany transactions and balances have been eliminated in consolidation. The Company’s results of operations and cash flows for the interim periods are not necessarily indicative of the results of operations and cash flows that it may June 30, 2016 10 January 17, 2017. Principles of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Integral Operating, LLC (“Operating”), Integral Vision Systems, Inc. ("IVSI"), Integral Systems Corporation (formerly Antek Wireless Inc.), Electriplast Corp. (formerly Plastenna, Inc.) (“Electriplast”), Integral Technologies Asia Co. Ltd. (“Asia”) and its 76.625% Basic and d iluted n et l oss p er s hare Basic net loss per common share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the year. Diluted net loss per common share is computed by dividing the net loss by the weighted-average number of common shares and dilutive common share equivalents outstanding during the period. Because the Company has reported a net loss for all years presented, diluted net loss per common share is the same as basic net loss per common share for those years. Stock issued in exchange for services The valuation of common stock issued in exchange for services to non-employees is valued at an estimated fair market value of the Company’s stock price based upon trading, sales and other issuances of the Company's common stock. Stock-based compensation expense related to awards to non-employees is recognized based on the then-current fair value at each measurement date over the associated service period of the award, which is generally the vesting term, using the accelerated attribution method. The fair value of non-employee stock options is estimated using the Black-Scholes valuation model with assumptions generally consistent with those used for employee stock options, with the exception of the expected term, which is the remaining contractual life at each measurement date. Restricted shares are issued or become issuable when they vested and are measured at their grant date and recorded evenly over the vesting period. Revenue recognition The Company has not generated significant revenue since inception. Although the Company has begun to receive revenue from the sale of material for commercial applications and a services contract, the Company continues to devote substantially all its efforts to developing the business. The Company recognizes revenues from a contract with a plastics technology company for which it provides se rvices and products, on a net basis. Fees are recognized monthly as services and products are provided. This is the point that revenues are considered realizable and earned. As discussed in Note 14, ten year license agreement with Hanwha Advanced Materials Co., Ltd., (“Hanwa”), of South Korea. For license agreements that the Company enters into, revenue is recognized when all four The Company ’s license agreements can provide for upfront license fees, maintenance payments, and/or substantive milestone payments. In accordance with revenue recognition guidance, the Company identifies all of the deliverables at the inception of the agreement. License fees which are nonrefundable fees will be evaluated for standalone value to the licensor and may may Foreign currency translation The Company ’s functional and reporting currency is the US dollar. Transactions and balances for the Company’s operations that are not in US dollars are translated into US dollars at the exchange rates in effect at the balance sheet dates for monetary assets and liabilities, and at historical exchange rates for non-monetary assets and liabilities. Revenues and expenses are translated at the rate of exchange on the date of the transaction, except for amortization and depreciation, which are translated on the same basis as the related assets. Resulting translation gains or losses are included in the consolidated statements of operations. The foreign currency impact on the consolidated financial statements is immaterial. Advertising Advertising costs are char ged to operations when incurred. Advertising expense was $6,298 $34,802 nine March 31, 2017 2016, $1,461 $3,719 three March 31, 2017 2016, Research and development The Company expenses all r esearch and development expenditures as incurred. Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management estimates include valuation allowance for deferred income tax assets, the determination of the assumptions used in calculating the fair value of stock-based compensation and the determination of the assumptions used in calculating the fair value of derivative financial liabilities and the warrant liability. Actual results could differ from those estimates and could impact future results of operations and cash flows. F inancial instruments We have issued financial instruments that contain embedded conversion features that qualify as derivatives and are therefore accounted for as liabilities . The derivative liabilities are initially recorded at fair value, with gains and losses arising from changes in fair value recognized in the consolidated statements of operations at each period end while such instruments are outstanding. The derivative liabilities relating to the convertible debt is valued using a binomial lattice model and the Black-Scholes Model where appropriate. The fair value of the warrants issued with reset provisions are measured using the Monte Carlo method. Fair value measurements Assets and liabilities recorded at fair value in the balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair value. For certain of the Company ’s financial instruments including cash and accounts payable, the carrying values approximate fair value due to their short-term nature. ASC 820 Fair Value Measurements and Disclosures 820, three ● Level 1 – Quoted prices in active markets for identical securities; ● Level 2 – Other significant observable inputs that are observable through corroboration with market data (including quoted prices in active markets for similar securities); and ● Level 3 – Significant unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability. The fair value measurement of the derivative liability and warrants with reset provisions are classified as a Level 3 Income taxes The Company uses the asset and liability approach in its method of accounting for income taxes that requires the recognition of deferred tax liabilities and assets for expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. A valuation allowance against deferred tax assets is recorded if, based upon weighted available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The impact of an uncertain tax position that is more likely than not of being sustained upon audit by the relevant taxing authority is recognized at the largest amount that is more likely than not to be sustained. No portion of an uncertain tax position will be recognized if the position has less than a 50% Stock-based compensation The Company accounts for stock-based compensation expense associated with stock options and other forms of equity compensation by estimating the fair value of share-based payment awards on the date of grant using the market price of common stock or the Black-Scholes option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s consolidated statements of operations. The Company uses the straight-line single-option method to recognize the value of stock-based compensation expense for all share-based payment awards. Stock-based compensation expense recognized in the consolidated statements of operations is reduced for estimated forfeitures, as it is based on awards ultimately expected to vest. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Property and Equipment Property and equipment are recorded at cost and depreciated over the estimated useful lives using the straight-line method of depreciation. Amortization of the leasehold improvements is comp uted using the straight-line method over the lesser of the estimated useful lives of the underlying assets and the term of the related lease. Reclassifications: For comparability, certain 2016 2017 2016 Recent Accounting Pronouncement s not yet adopted In May 2014, ing after December 15, 2017. In August 2014, 2014 15, ’s Ability to Continue as a Going Concern (“ASU 2014 15”). 2014 15 one 2014 15 December 15, 2016, In March 2016, 2016 09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting, December 15, 2016, In February 2016, 2016 2, Leases December 15, 2018. 2016 2 Recent accountin g pronouncements adopted In April 2015, 2015 03 – Interest – Imputation of Interest (Subtopic 835 30): December 15, 2015, |
Note 3 - Going Concern
Note 3 - Going Concern | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 3 GOING CONCERN These consolidated financial statements have been prepared on a going concern basis, which assumes the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the ordinary course of business. The Company’s operations have resulted in a net loss of $2,652,898 nine March 31, 2017 (2016 $3,812,593), March 31, 2017, $60,275,180 (June 30, 2016 $57,622,282) $3,530,866 March 31, 2017, (June 30, 2016 $1,967,917). $30,000 12). three These consolidated financial statements do not reflect adjustments that would be necessary if the going concern assumption were not appropriate because management believes that the actions already taken or planned will mitigate the adverse conditions and events that raise doubts about the validity of the going concern assumption used in preparing these consolidated financial statements. Management intends to raise additional capital through stock and debt issuances to finance operations. If none of these events occur, there is a risk that the business will fail. |
Note 4 - Stockholders' Deficit
Note 4 - Stockholders' Deficit | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 4 - STOCKHOLDERS’ DEFICIT Common stock During the nine March 31, 2017, (a) On July 27, 2016, raised $226,355 1,968,304 one $0.115 one $0.001 492,076 common shares on or before April 30, 2017 $0.30 (b) On August 22, 2016, $94,000 817,391 one $0.115 one $0.001 204,348 common shares on or before May 31, 2017 $0.30 (c) During December, 2016, $210,000 3,000,000 Each unit consisted of one $0.07 one $0.001 750,000 common shares on or before October 1, 2017 $0.20 (d) During January 2017, $23,800 340,000 Each unit consisted of one $0.07 one $0.001 85,000 common shares on or before October 1, 2017 $0.20 (e) On March 8, 2017, 1,666,667 measured at the grant date fair value of $200,000 (f) On January 6, 2017, 337,500 rsuant to employment agreements. The grant date fair value of these shares had previously been recognized as stock-based compensation over the vesting terms. During the nine ths ended March 31, 2017, (a) On September 21, 2016, 1,035,864 $69,649, first 9). (b) On October 11, 2016, 75,000 ’s common shares on that date of $10,500, 10). (c) On January 6, 2017, 100,000 ’s common shares on that date of $14,000, 10). (d) O n January 6, 2017, 725,000 $82,000 (e) On March 1, 2017, 5,250,000 During the nine March 31, 2017, 2,500,000 $108,014. Due to the nature of the rescission rights attached to the issued common shares, the Company continues to measure the settled debt within liabilities. At the time that such rescission rights are ratified, the debt will be considered extinguished. During the year ended June 30, 2016, (a) Completed a private placement amounting to $28,000 56,000 $0.50 Preferred stock As of March 31, 2017, June 30, 2016 no Stock-based compensation During the nine March 31, 2017, $111,165 (2016 $134,688). three March 31, 2017, $21,375 (2016 $44,896), Stock-based compensation not yet recognized at March 31, 2017 $85,410 (June 30, 2016 $196,575), 1 (2016 1 Stock options and restricted shares The Company is reviewing several alternatives to replace its 2001, 2003, 2009 June 30, 2017. In January 2001, 2001 "2001 may 2,500,000 December 2001 common stock options that may 2,500,000 3,500,000 March 31, 2017, no (June 30, 2016 nil In April 2003, 2003 "2003 may 1,500,000 March 31, 2017, no (June 30, 2016 nil During the fiscal year ended June 30, 2010, 2009 "2009 may 4,000,000 March 31, 2017, no (June 30, 2016 nil Stock option activity The following summarizes information about the Company ’s options outstanding: Number of Options Price Per Option Weighted Average Exercise Price Outstanding, June 30, 2016 1,150,000 $0.25 to $ 0.85 $ 0.37 Granted - - - Cancelled (150,000 ) $0.50 $ 0.50 Expired (850,000 ) $0.31 to $0.85 $ 0.37 - Outstanding, March 31, 2017 150,000 $0.25 $ 0.25 Exercisable, March 31, 2017 150,000 $0.25 $ 0.25 A summary of the status of non-vested options as of March 31, 2017, Number of Options Weighted Average Grant Date Fair Value Non-vested at June 30, 2016 50,000 $ 0.25 Options granted - - Options forfeited - - Options vested (50,000 ) $ 0.25 Non-vested at March 31, 2017 - - The weighted average remaining contractual lives for options outstanding and exercisable at March 31, 2017 3.79 (June 30, 2016 1.13 0.93 The following summarizes the options outstanding and exercisable: Number of Options Expiry Date Exercise Price March 31, 2017 June 30, 2016 December 1, 2016 $0.85 - 100,000 December 1, 2016 $0.50 - 75,000 February 19, 2017 $0.31 - 750,000 June 1, 2017 $0.50 - 75,000 January 13, 2019 $0.25 50,000 50,000 January 13, 2020 $0.25 50,000 50,000 January 13, 2021 $0.25 50,000 50,000 Total outstanding 150,000 1,150,000 Total exercisable 150,000 1,100,000 The aggregate intrinsic value of options outstanding and exercisable as of March 31, 2017 nil nil (June 30, 2016 nil nil During the year ended June 30, 2014, three four During the nine March 31, 2017, 337,500 June 30, 2016 337,500) 600,000 A summary of the status of non-vested restricted shares as of March 31, 2017, Number of Restricted Stock Awards Weighted Average Grant Date Fair Value Non-vested at June 30, 2016 337,500 $ 0.38 Awards granted - - Awards forfeited - - Awards vested (337,500 ) $ 0.38 Non-vested at March 31, 2017 - $ - Stock purchase warrants The following summarizes information about the Company ’s stock purchase warrants outstanding: Number of Warrants Price Per Share Weighted Average Exercise Price Balance, June 30, 2016 12,506,309 $0. 08 - $0.50 $ 0.32 Granted 1,531,424 $0.20 - $0.30 $ 0.25 Expired (8,046,844 ) $0.30 - $0.50 $ 0.37 Balance, March 31, 2017 5,990,889 $0. 08 - $0.30 $ 0.24 Number of Warrants Expiry Date Exercise Price March 31, 2017 June 30, 2016 November 25, 2016 $0.30 - 8,501,786 November 25, 2016 $0.50 - 2,754,523 April 30, 2017 $0.30 492,076 - May 31, 2017 $0.30 204,348 - October 31, 2017* $0.30 3,209,465 - October 31, 2017 $0.20 835,000 - May 5, 2020 $0.08 1,250,000 1,250,000 Total outstanding and exercisable 5,990,889 12,506,309 * During the nine March 31, 2017, 3,209,465 November 25, 2016 October 31, 2017. Share obligations (a) Pursuant to a separation agreement with the previous CFO, the Company will issue 36,000 July 1, 2016 February 10, 2017 . Pursuant to the separation agreement, obligations to issue shares of $87,660, 204,000 were written off and recognized within gain on extinguishment of debt. During the nine March 31, 2017, $4,320 (2016 $23,340) . During the three March 31, 2017, nil (2016 $5,280) (b) On January 27, 2017, 600,000 the shares of $60,000 10(c)). (c) On March 31, 2017, 950,000 $49,400 $57,000 $7,600. April 7, 2017 10). P ursuant to director’s agreements, the Company is obligated to issue 65,000 March 31, 2017, $29,250 |
Note 5 - Income Taxes
Note 5 - Income Taxes | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 5 - INCOME TAXES There are no nine March 31, 2017, March 31, 2017, $45,200,000. |
Note 6 - Supplemental Disclosur
Note 6 - Supplemental Disclosure of Cash Flow Information | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 6 - SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Nine Months Ended March 31, 2017 Nine Months Ended March 31, 2016 Changes in working capital Prepaid expenses $ 36,154 $ 39,152 Accounts receivable (4,478 ) (7,770 ) Accounts payable and accruals 776,853 591,523 Related party payable 367,243 - $ 1,175,772 $ 622,905 Shares issued for: Subscriptions received in prior year $ - $ 107,500 Settlement of debt 106,500 - Pursuant to debt agreements 10,500 - Settlement of convertible debenture 113,945 1,047,182 Debt reduction and adjustment on extinguishment 76,486 348,437 Financed prepaid D&O insurance - 91,221 |
Note 7 - Related Party Transact
Note 7 - Related Party Transactions | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 7 - RELATED PARTY TRANSACTIONS As of March 31, 2017, $397,243 (June 30, 2016 $30,000) |
Note 8 - Segment Information
Note 8 - Segment Information | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 8 - SEGMENT INFORMATION The Company operates primarily in one |
Note 9 - Convertible Debentures
Note 9 - Convertible Debentures | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 9 CONVERTIBLE DEBENTURES During the nine March 31, 2017 , the Company entered into the following new convertible debenture agreements, summarized as follows: (a) Power Up Lending Group Ltd.: ● On February 9, 2017 , a total of $35,000 $3,500 November 20, 2017; ● On March 9, 2017, $55,000 $3,000 December 30, 2017; The convertible debenture s accrue interest of 12% 180 63% three ten one 4.99% 22% The convertible debenture s may ● Outstanding principal multiplied by 115% 30 ● Outstanding principal multiplied by 1 20% 31 60 ● Outstanding principal multiplied by 1 25% 61 90 ● Outstanding principal multiplied by 1 30% 91 120 ● Outstanding principal multiplied by 1 35% 121 150 ● Outstanding principal multiplied by 1 40% 151 180 The embedded conversion feature of the convertible debenture s were treated as derivative liabilities measured at fair value on inception and at each reporting date with the debt component being allocated the residual value of the debt and amortized using the effective interest method to its maturity value. Debt issuance costs have been recorded as a reduction to the debt. During the nine March 31, 2017, $22,384 $67,616 (b) Debt settlement agreement On March 28, 2017, the Company entered into a debt settlement agreement to add a conversion feature to debt with an original balance of $88,000. $135,520 $116,160 The debenture ha s a conversion price equal to 70% three ten one 4.99% 22% The modification of the debt was accounted for as an extinguishment of debt with a gain on extinguishment of $19,360 nine March 31, 2017. The embedded conversion feature of the convertible debenture s was treated as a derivative liability measured at fair value on the debt settlement agreement date and at each reporting date with the debt component being allocated the residual value of the debt and amortized using the effective interest method to its maturity value. During the nine March 31, 2017, $70,357 $45,803 Summary of convertible debt transactions As of March 31, 2017, $1,151,373 (June 30, 2016 $664,621), $186,968 (June 30, 2016 $142,797) $32,800 (June 30, 2016 $87,500). During the nine March 31, 2017, $29,143 (2016 $887,707) three March 31, 2017, $4,995 (2016 $848,208) March 31, 2017, $29,184 $41 As of March 31, 2017 , 5,665,990 (June 30, 2016 1,374,041) $0.03 (June 30, 2016 $0.11) As of March 31, 2017, $1,327,317 (June 30, 2016 $1,189,649), $121,157 (June 30, 2016 $146,087). During the nine March 31, 2017, $433,945 (2016 $380,577) three March 31, 2017, $396,778 (2016 $176,273) The fair value of the derivative financial liability is calculated using a binomial lattice valuation method at inception and the balance sheet date. The fair value of the warrant liability is calculated using the Monte Carlo Model at inception and the balance sheet date. The following assumptions were used in determining the fair value of the derivative liabilit ies at inception during the nine March 31, 2017 Share price 0.06 – 0.50 Conversion price 0.034 – 0.37 Expected life (years) 0.18 – 2.00 Interest rate 0.42 – 1.04% Volatility 76.39 – 135.16% Dividend yield N/A Estimated forfeitures N/A The following assumptions were used in determining the fair value of the derivative financial liabilities as of: March 31, 2017 June 3 0 , 2016 Share price 0.06 0.16 Conversion price 0.04 0.11 Expected life (years) 0.17 – 0.75 0.850 – 1.25 Interest rate 0.76 – 0.91% 0.45 - 0.50% Volatility 91.50 – 136.71% 91.50 – 122.29% Dividend yield N/A N/A Estimated forfeitures N/A N/A The following assumptions were used in determining the fair value of the derivative warrant liability as of: March 31, 2017 June 3 0, 2016 Share price 0.09 0.16 Conversion price 0.06 $0.09 Expected life (years) 1.34 1.85 Interest rate 0.58% 0.58% Volatility 92% 92% Dividend yield N/A N/A Estimated forfeitures N/A N/A |
Note 10 - Loans Payable (Contin
Note 10 - Loans Payable (Continued) | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Loan Payable [Text Block] | NOTE 10 – LOANS PAYABLE (CONTINUED) During the nine March 31, 2017 , the Company had the following loan agreements outstanding, summarized as follows: (a) On Jan 1, 2016, cover directors’ and officers’ liability insurance for the period March 31, 2016 March 31, 2017. $73,176, 3.189% $8,131 March 31, 2017, nil (June 30, 2016 $32,522). As of March 31, 2017, nil (June 30, 2016 $45,609), (b) On January 1, 2016, July 1, 2016, $110,000. one 5% $5,500 July 1, 2016. and had a conversion feature in the event of loan default. On March 31, 2017, $49,400 $11,400 950,000 The agreement date fair value of the shares of $57,000 $7,600. April 7, 2017. (c) On September 2, 2016, Company entered into a promissory note agreement and received a total of $80,000, $8,000 $88,000 one 10% December 13, 2016. 100,000 140%. $14,000 On December 13, 2016, January 30, 2017. 500,000 $55,000 January 29, 2017, March 2, 2017. 600,000 $60,000 On March 28, 2017, the Company entered into a debt settlement agreement to add a conversion feature to the debt. At the date of the settlement agreement, the loan balance was $135,520 $116,160 As a result of the debt settlement agreement, the debt is now accounted for within convertible debentures (note 9). (d) On October 24, 2016, $12,000. November 9, 2016. 75,000 14 140%. $10,500 On November 29, 2016, January 30, 2017. 225,000 $27,000 |
Note 11 - Deferred Revenue
Note 11 - Deferred Revenue | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Deferred Revenue Disclosure [Text Block] | NOTE 1 1 - DEFERRED REVENUE On June 21, 2013, ten Hanwha Advanced Materials Co., Ltd, of South Korea. The agreement grants Hanwha exclusive rights to sell, distribute and manufacture Integral's patented line of conductive plastics, ElectriPlast, in South Korea, as well as non-exclusive sales and distribution rights to ElectriPlast for Japan, Taiwan and the China markets. The agreement called for license fees as follows: ● $250,000 15 ● $250,000 received) payment to be paid to the Company no later than one The payments have been recorded as deferred revenue, which will be recognized as license fee revenue in the consolidated statements of operations over the life of the ten nine three March 31, 2017, $37,500 $12,500 (2016 $37,500 $12,500) . As of March 31, 2017 June 30, 2016, March 31, 2017 June 30, 2016 Current $ 50,000 $ 50,000 Non-current 283,333 320,833 $ 333,333 $ 370,833 |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 9 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 12 - SUBSEQUENT EVENTS Subsequent to the nine March 31, 2017, (a) Issued 2,223,540 $90,150 ; (b) Issued 9,100,000 common shares subject to rescission to JMJ Financial; and (c) Entered into new promissory note agreements to raise $30,000. $500, May 19, 2017. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of consolidation These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Integral Operating, LLC (“Operating”), Integral Vision Systems, Inc. ("IVSI"), Integral Systems Corporation (formerly Antek Wireless Inc.), Electriplast Corp. (formerly Plastenna, Inc.) (“Electriplast”), Integral Technologies Asia Co. Ltd. (“Asia”) and its 76.625% |
Earnings Per Share, Policy [Policy Text Block] | Basic and d iluted n et l oss p er s hare Basic net loss per common share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the year. Diluted net loss per common share is computed by dividing the net loss by the weighted-average number of common shares and dilutive common share equivalents outstanding during the period. Because the Company has reported a net loss for all years presented, diluted net loss per common share is the same as basic net loss per common share for those years. |
Stockholders' Equity, Policy [Policy Text Block] | Stock issued in exchange for services The valuation of common stock issued in exchange for services to non-employees is valued at an estimated fair market value of the Company’s stock price based upon trading, sales and other issuances of the Company's common stock. Stock-based compensation expense related to awards to non-employees is recognized based on the then-current fair value at each measurement date over the associated service period of the award, which is generally the vesting term, using the accelerated attribution method. The fair value of non-employee stock options is estimated using the Black-Scholes valuation model with assumptions generally consistent with those used for employee stock options, with the exception of the expected term, which is the remaining contractual life at each measurement date. Restricted shares are issued or become issuable when they vested and are measured at their grant date and recorded evenly over the vesting period. |
Revenue Recognition, Policy [Policy Text Block] | Revenue recognition The Company has not generated significant revenue since inception. Although the Company has begun to receive revenue from the sale of material for commercial applications and a services contract, the Company continues to devote substantially all its efforts to developing the business. The Company recognizes revenues from a contract with a plastics technology company for which it provides se rvices and products, on a net basis. Fees are recognized monthly as services and products are provided. This is the point that revenues are considered realizable and earned. As discussed in Note 14, ten year license agreement with Hanwha Advanced Materials Co., Ltd., (“Hanwa”), of South Korea. For license agreements that the Company enters into, revenue is recognized when all four The Company ’s license agreements can provide for upfront license fees, maintenance payments, and/or substantive milestone payments. In accordance with revenue recognition guidance, the Company identifies all of the deliverables at the inception of the agreement. License fees which are nonrefundable fees will be evaluated for standalone value to the licensor and may may |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign currency translation The Company ’s functional and reporting currency is the US dollar. Transactions and balances for the Company’s operations that are not in US dollars are translated into US dollars at the exchange rates in effect at the balance sheet dates for monetary assets and liabilities, and at historical exchange rates for non-monetary assets and liabilities. Revenues and expenses are translated at the rate of exchange on the date of the transaction, except for amortization and depreciation, which are translated on the same basis as the related assets. Resulting translation gains or losses are included in the consolidated statements of operations. The foreign currency impact on the consolidated financial statements is immaterial. |
Advertising Costs, Policy [Policy Text Block] | Advertising Advertising costs are char ged to operations when incurred. Advertising expense was $6,298 $34,802 nine March 31, 2017 2016, $1,461 $3,719 three March 31, 2017 2016, |
Research and Development Expense, Policy [Policy Text Block] | Research and development The Company expenses all r esearch and development expenditures as incurred. |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant areas requiring the use of management estimates include valuation allowance for deferred income tax assets, the determination of the assumptions used in calculating the fair value of stock-based compensation and the determination of the assumptions used in calculating the fair value of derivative financial liabilities and the warrant liability. Actual results could differ from those estimates and could impact future results of operations and cash flows. |
Derivatives, Embedded Derivatives [Policy Text Block] | F inancial instruments We have issued financial instruments that contain embedded conversion features that qualify as derivatives and are therefore accounted for as liabilities . The derivative liabilities are initially recorded at fair value, with gains and losses arising from changes in fair value recognized in the consolidated statements of operations at each period end while such instruments are outstanding. The derivative liabilities relating to the convertible debt is valued using a binomial lattice model and the Black-Scholes Model where appropriate. The fair value of the warrants issued with reset provisions are measured using the Monte Carlo method. |
Fair Value Measurement, Policy [Policy Text Block] | Fair value measurements Assets and liabilities recorded at fair value in the balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair value. For certain of the Company ’s financial instruments including cash and accounts payable, the carrying values approximate fair value due to their short-term nature. ASC 820 Fair Value Measurements and Disclosures 820, three ● Level 1 – Quoted prices in active markets for identical securities; ● Level 2 – Other significant observable inputs that are observable through corroboration with market data (including quoted prices in active markets for similar securities); and ● Level 3 – Significant unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability. The fair value measurement of the derivative liability and warrants with reset provisions are classified as a Level 3 |
Income Tax, Policy [Policy Text Block] | Income taxes The Company uses the asset and liability approach in its method of accounting for income taxes that requires the recognition of deferred tax liabilities and assets for expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. A valuation allowance against deferred tax assets is recorded if, based upon weighted available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The impact of an uncertain tax position that is more likely than not of being sustained upon audit by the relevant taxing authority is recognized at the largest amount that is more likely than not to be sustained. No portion of an uncertain tax position will be recognized if the position has less than a 50% |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-based compensation The Company accounts for stock-based compensation expense associated with stock options and other forms of equity compensation by estimating the fair value of share-based payment awards on the date of grant using the market price of common stock or the Black-Scholes option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as an expense over the requisite service periods in the Company’s consolidated statements of operations. The Company uses the straight-line single-option method to recognize the value of stock-based compensation expense for all share-based payment awards. Stock-based compensation expense recognized in the consolidated statements of operations is reduced for estimated forfeitures, as it is based on awards ultimately expected to vest. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are recorded at cost and depreciated over the estimated useful lives using the straight-line method of depreciation. Amortization of the leasehold improvements is comp uted using the straight-line method over the lesser of the estimated useful lives of the underlying assets and the term of the related lease. |
Reclassification, Policy [Policy Text Block] | Reclassifications: For comparability, certain 2016 2017 2016 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncement s not yet adopted In May 2014, ing after December 15, 2017. In August 2014, 2014 15, ’s Ability to Continue as a Going Concern (“ASU 2014 15”). 2014 15 one 2014 15 December 15, 2016, In March 2016, 2016 09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting, December 15, 2016, In February 2016, 2016 2, Leases December 15, 2018. 2016 2 Recent accountin g pronouncements adopted In April 2015, 2015 03 – Interest – Imputation of Interest (Subtopic 835 30): December 15, 2015, |
Note 4 - Stockholders' Deficit
Note 4 - Stockholders' Deficit (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Stock Options Roll Forward [Table Text Block] | Number of Options Price Per Option Weighted Average Exercise Price Outstanding, June 30, 2016 1,150,000 $0.25 to $ 0.85 $ 0.37 Granted - - - Cancelled (150,000 ) $0.50 $ 0.50 Expired (850,000 ) $0.31 to $0.85 $ 0.37 - Outstanding, March 31, 2017 150,000 $0.25 $ 0.25 Exercisable, March 31, 2017 150,000 $0.25 $ 0.25 |
Schedule of Nonvested Share Activity [Table Text Block] | Number of Options Weighted Average Grant Date Fair Value Non-vested at June 30, 2016 50,000 $ 0.25 Options granted - - Options forfeited - - Options vested (50,000 ) $ 0.25 Non-vested at March 31, 2017 - - |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Number of Options Expiry Date Exercise Price March 31, 2017 June 30, 2016 December 1, 2016 $0.85 - 100,000 December 1, 2016 $0.50 - 75,000 February 19, 2017 $0.31 - 750,000 June 1, 2017 $0.50 - 75,000 January 13, 2019 $0.25 50,000 50,000 January 13, 2020 $0.25 50,000 50,000 January 13, 2021 $0.25 50,000 50,000 Total outstanding 150,000 1,150,000 Total exercisable 150,000 1,100,000 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Number of Restricted Stock Awards Weighted Average Grant Date Fair Value Non-vested at June 30, 2016 337,500 $ 0.38 Awards granted - - Awards forfeited - - Awards vested (337,500 ) $ 0.38 Non-vested at March 31, 2017 - $ - |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Warrants Price Per Share Weighted Average Exercise Price Balance, June 30, 2016 12,506,309 $0. 08 - $0.50 $ 0.32 Granted 1,531,424 $0.20 - $0.30 $ 0.25 Expired (8,046,844 ) $0.30 - $0.50 $ 0.37 Balance, March 31, 2017 5,990,889 $0. 08 - $0.30 $ 0.24 |
Schedule of Stockholders' Equity Note, Warrants or Rights Outstanding by Expiration Date [Table Text Block] | Number of Warrants Expiry Date Exercise Price March 31, 2017 June 30, 2016 November 25, 2016 $0.30 - 8,501,786 November 25, 2016 $0.50 - 2,754,523 April 30, 2017 $0.30 492,076 - May 31, 2017 $0.30 204,348 - October 31, 2017* $0.30 3,209,465 - October 31, 2017 $0.20 835,000 - May 5, 2020 $0.08 1,250,000 1,250,000 Total outstanding and exercisable 5,990,889 12,506,309 |
Note 6 - Supplemental Disclos20
Note 6 - Supplemental Disclosure of Cash Flow Information (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Nine Months Ended March 31, 2017 Nine Months Ended March 31, 2016 Changes in working capital Prepaid expenses $ 36,154 $ 39,152 Accounts receivable (4,478 ) (7,770 ) Accounts payable and accruals 776,853 591,523 Related party payable 367,243 - $ 1,175,772 $ 622,905 Shares issued for: Subscriptions received in prior year $ - $ 107,500 Settlement of debt 106,500 - Pursuant to debt agreements 10,500 - Settlement of convertible debenture 113,945 1,047,182 Debt reduction and adjustment on extinguishment 76,486 348,437 Financed prepaid D&O insurance - 91,221 |
Note 9 - Convertible Debentur21
Note 9 - Convertible Debentures (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | March 31, 2017 Share price 0.06 – 0.50 Conversion price 0.034 – 0.37 Expected life (years) 0.18 – 2.00 Interest rate 0.42 – 1.04% Volatility 76.39 – 135.16% Dividend yield N/A Estimated forfeitures N/A March 31, 2017 June 3 0 , 2016 Share price 0.06 0.16 Conversion price 0.04 0.11 Expected life (years) 0.17 – 0.75 0.850 – 1.25 Interest rate 0.76 – 0.91% 0.45 - 0.50% Volatility 91.50 – 136.71% 91.50 – 122.29% Dividend yield N/A N/A Estimated forfeitures N/A N/A March 31, 2017 June 3 0, 2016 Share price 0.09 0.16 Conversion price 0.06 $0.09 Expected life (years) 1.34 1.85 Interest rate 0.58% 0.58% Volatility 92% 92% Dividend yield N/A N/A Estimated forfeitures N/A N/A |
Note 11 - Deferred Revenue (Tab
Note 11 - Deferred Revenue (Tables) | 9 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | March 31, 2017 June 30, 2016 Current $ 50,000 $ 50,000 Non-current 283,333 320,833 $ 333,333 $ 370,833 |
Note 1 - Nature of Operations (
Note 1 - Nature of Operations (Details Textual) | 9 Months Ended |
Mar. 31, 2017 | |
Entity Incorporation, Date of Incorporation | Feb. 12, 1996 |
Note 2 - Significant Accounti24
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | |
Noncontrolling Interest, Ownership Percentage by Parent | 76.625% | 76.625% | ||
Period of License Agreement | 10 years | |||
Advertising Expense | $ 1,461 | $ 3,719 | $ 6,298 | $ 34,802 |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details Textual) - USD ($) | 2 Months Ended | 3 Months Ended | 9 Months Ended | |||
May 21, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Jun. 30, 2016 | |
Net Income (Loss) Attributable to Parent | $ (1,190,946) | $ (1,736,793) | $ (2,652,898) | $ (3,812,593) | ||
Retained Earnings (Accumulated Deficit) | (60,275,180) | (60,275,180) | $ (57,622,282) | |||
Working Capital Deficiency | $ 3,530,866 | $ 3,530,866 | $ 1,967,917 | |||
Subsequent Event [Member] | ||||||
Proceeds from Short-term Debt, Maturing in Three Months or Less | $ 30,000 |
Note 4 - Stockholders' Defici26
Note 4 - Stockholders' Deficit (Details Textual) - USD ($) | Mar. 31, 2017 | Mar. 08, 2017 | Mar. 01, 2017 | Jan. 27, 2017 | Jan. 06, 2017 | Oct. 11, 2016 | Sep. 21, 2016 | Sep. 02, 2016 | Aug. 22, 2016 | Jul. 27, 2016 | Jan. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Jun. 30, 2016 | Jun. 30, 2014 | Jun. 30, 2010 | Apr. 30, 2003 | Dec. 31, 2001 | Nov. 30, 2001 | Jan. 31, 2001 |
Stock Issued During Period, Shares, Issued for Services | 1,666,667 | ||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 200,000 | ||||||||||||||||||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 337,500 | ||||||||||||||||||||||
Stock Issued During Period, Shares, Debt Agreements | 100,000 | 75,000 | 100,000 | ||||||||||||||||||||
Stock Issued During Period, Value, Debt Agreements | $ 14,000 | $ 10,500 | $ 14,000 | $ 10,500 | |||||||||||||||||||
Stock Issued During Period, Shares, Maturity Date Extension of Loans Held | 725,000 | ||||||||||||||||||||||
Stock Issued During Period, Value, Maturity Date Extension of Loans Held | $ 82,000 | ||||||||||||||||||||||
Stock Issued During Period Value Settlement of Debt | $ 106,500 | ||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | 0 | |||||||||||||||||||
Allocated Share-based Compensation Expense | $ 21,375 | $ 44,896 | $ 111,165 | $ 134,688 | |||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 85,410 | 85,410 | $ 85,410 | $ 196,575 | |||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year | 1 year | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 288 days | 1 year 47 days | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 3 years 288 days | 339 days | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 0 | 0 | $ 0 | $ 0 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | 0 | $ 0 | $ 0 | |||||||||||||||||||
Class of Warrant or Right, Expiration Date Extended During the Period, Number of Warrants or Rights | 3,209,465 | ||||||||||||||||||||||
Maturity Date Extension of Loans Held, Number of Shares Agreed to Issue | 600,000 | ||||||||||||||||||||||
Maturity Date Extension of Loans Held, Value of Shares Agreed to Issue | $ 60,000 | ||||||||||||||||||||||
Debt Settlement Agreement, Number of Shares Agreed to Issue | 950,000 | ||||||||||||||||||||||
Debt Settlement Agreement, Debt Settled By Means of Stock Issuance | $ 49,400 | ||||||||||||||||||||||
Debt Settlement Agreement, Value of Shares Agreed to Issue | 57,000 | ||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt | $ (7,600) | $ (42,580) | 142,297 | $ (76,486) | $ 144,224 | ||||||||||||||||||
Previous Chief Financial Officer [Member] | |||||||||||||||||||||||
Share Obligations, Shares Issuable | 36,000 | 36,000 | 36,000 | ||||||||||||||||||||
Share Obligations, Value of Shares Written Off Pursuant to Separation Agreements | $ 87,660 | ||||||||||||||||||||||
Share Obligations, Number of Shares Written Off During the Period Pursuant to Separation Agreements | 204,000 | ||||||||||||||||||||||
Value of Shares Obligated to be Issued | $ 0 | $ 5,280 | $ 4,320 | $ 23,340 | |||||||||||||||||||
Director [Member] | |||||||||||||||||||||||
Share Obligations, Shares Issuable | 65,000 | 65,000 | 65,000 | ||||||||||||||||||||
Share Obligations, Outstanding Liabilities | $ 29,250 | $ 29,250 | $ 29,250 | ||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.08 | $ 0.08 | $ 0.08 | $ 0.08 | |||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.30 | $ 0.30 | $ 0.30 | $ 0.50 | |||||||||||||||||||
Restricted Stock [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 337,500 | 337,500 | |||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 600,000 | 600,000 | 600,000 | ||||||||||||||||||||
Restricted Stock [Member] | Minimum [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||||||||||||||||
Restricted Stock [Member] | Maximum [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||||||||
2001 Plan [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,500,000 | 2,500,000 | 2,500,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | 0 | 0 | |||||||||||||||||||
2003 Plan [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,500,000 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | 0 | 0 | |||||||||||||||||||
2009 Plan [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,000,000 | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | 0 | 0 | |||||||||||||||||||
JMJ Financial [Member] | |||||||||||||||||||||||
Stock Rescinded During the Period, Shares, Previously Issued to Settle Convertible Debt | 5,250,000 | ||||||||||||||||||||||
Stock Issued During Period, Shares, Settlement of Debt | 2,500,000 | ||||||||||||||||||||||
Stock Issued During Period Value Settlement of Debt | $ 108,014 | ||||||||||||||||||||||
Shares Issued to Settle Convertible Debt [Member] | |||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,035,864 | ||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 69,649 | ||||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ 94,000 | $ 226,355 | $ 23,800 | $ 210,000 | $ 28,000 | ||||||||||||||||||
Unit Issued During Period, Shares, New Issues | 817,391 | 1,968,304 | 340,000 | 3,000,000 | |||||||||||||||||||
Shares Issued, Price Per Share | $ 0.115 | $ 0.115 | $ 0.07 | $ 0.07 | $ 0.50 | ||||||||||||||||||
Class of Warrant or Right, Price Per Warrant | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 204,348 | 492,076 | 85,000 | 750,000 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.30 | $ 0.30 | $ 0.20 | $ 0.20 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 56,000 |
Note 4 - Stockholders' Defici27
Note 4 - Stockholders' Deficit - Summary of Options Outstanding (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Jun. 30, 2016 | |
Outstanding, Number of Options, Beginning Balance (in shares) | 1,150,000 | |
Outstanding, Price Per Option, Lower Limit (in dollars per share) | $ 0.31 | $ 0.25 |
Outstanding, Price Per Option, Upper Limit (in dollars per share) | 0.85 | $ 0.85 |
Outstanding, Weighted Average Exercise Price, Beginning Balance (in dollars per share) | $ 0.37 | |
Granted, Number of Options (in shares) | ||
Cancelled, Number of Options (in shares) | (150,000) | |
Cancelled, Price Per Option (in dollars per share) | $ 0.50 | |
Expired, Number of Options (in shares) | (850,000) | |
Expired, Weighted Average Exercise Price (in dollars per share) | $ 0.37 | |
Outstanding, Number of Options , Ending Balance (in shares) | 150,000 | 1,150,000 |
Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 0.25 | $ 0.37 |
Exercisable,, Number of Options (in shares) | 150,000 | |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 0.25 |
Note 4 - Stockholders' Defici28
Note 4 - Stockholders' Deficit - Summary of Status of Non-vested Options (Details) | 9 Months Ended |
Mar. 31, 2017$ / sharesshares | |
Non-vested (in shares) | shares | 50,000 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.25 |
Granted, Number of Options (in shares) | shares | |
Options granted, weighted average grant date fair value (in dollars per share) | $ / shares | |
Options forfeited (in shares) | shares | |
Options forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | |
Options vested (in shares) | shares | (50,000) |
Options vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.25 |
Non-vested (in shares) | shares | |
Non-vested, weighted average grant date fair value (in dollars per share) | $ / shares |
Note 4 - Stockholders' Defici29
Note 4 - Stockholders' Deficit - Summary of Options Outstanding and Exercisable by Expiry Date (Details) - $ / shares | 9 Months Ended | |
Mar. 31, 2017 | Jun. 30, 2016 | |
Number of Options, Outstanding (in shares) | 150,000 | 1,150,000 |
Number of Options, Exercisable (in shares) | 150,000 | 1,100,000 |
Range One [Member] | ||
Expiry Date | Dec. 1, 2016 | |
Exercise Price, Outstanding (in dollars per share) | $ 0.85 | |
Number of Options, Outstanding (in shares) | 100,000 | |
Range Two [Member] | ||
Expiry Date | Dec. 1, 2016 | |
Exercise Price, Outstanding (in dollars per share) | $ 0.50 | |
Number of Options, Outstanding (in shares) | 75,000 | |
Range Three [Member] | ||
Expiry Date | Feb. 19, 2017 | |
Exercise Price, Outstanding (in dollars per share) | $ 0.31 | |
Number of Options, Outstanding (in shares) | 750,000 | |
Range Four [Member] | ||
Expiry Date | Jun. 1, 2017 | |
Exercise Price, Outstanding (in dollars per share) | $ 0.50 | |
Number of Options, Outstanding (in shares) | 75,000 | |
Range Five [Member] | ||
Expiry Date | Jan. 13, 2019 | |
Exercise Price, Outstanding (in dollars per share) | $ 0.25 | |
Number of Options, Outstanding (in shares) | 50,000 | 50,000 |
Range Six [Member] | ||
Expiry Date | Jan. 13, 2020 | |
Exercise Price, Outstanding (in dollars per share) | $ 0.25 | |
Number of Options, Outstanding (in shares) | 50,000 | 50,000 |
Range Seven [Member] | ||
Expiry Date | Jan. 13, 2021 | |
Exercise Price, Outstanding (in dollars per share) | $ 0.25 | |
Number of Options, Outstanding (in shares) | 50,000 | 50,000 |
Note 4 - Stockholders' Defici30
Note 4 - Stockholders' Deficit - Summary of Status of Non-vested Restricted Shares (Details) | 9 Months Ended |
Mar. 31, 2017$ / sharesshares | |
Non-vested, Number of Restricted Stock Awards, Beginning Balance (in shares) | shares | 337,500 |
Non-vested, Weighted Average Grant Date Fair Value, beginning balance (in dollars per share) | $ / shares | $ 0.38 |
Awards granted, Number of Restricted Stock Awards (in shares) | shares | |
Awards granted, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | |
Awards forfeited, Number of Restricted Stock Awards (in shares) | shares | |
Awards forfeited, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | |
Awards vested, Number of Restricted Stock Awards (in shares) | shares | (337,500) |
Awards vested, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 0.38 |
Non-vested, Number of Restricted Stock Awards, Ending Balance (in shares) | shares | |
Non-vested, Weighted Average Grant Date Fair Value, beginning balance (in dollars per share) | $ / shares |
Note 4 - Stockholders' Defici31
Note 4 - Stockholders' Deficit - Summary of Stock Purchase Warrants Outstanding (Details) | 9 Months Ended |
Mar. 31, 2017$ / sharesshares | |
Beginning Balance, Number of Warrants (in shares) | shares | 12,506,309 |
Granted, Number of Warrants (in shares) | shares | 1,531,424 |
Expired, Number of Warrants (in shares) | shares | (8,046,844) |
Ending Balance, Number of Warrants (in shares) | shares | 5,990,889 |
Minimum [Member] | |
Exercise Price, Warrant, Beginning Balance (in dollars per share) | $ 0.08 |
Exercise Price, Warrant, Granted (in dollars per share) | 0.20 |
Exercise Price, Warrant, Expired (in dollars per share) | 0.30 |
Exercise Price, Warrant, Ending Balance (in dollars per share) | 0.08 |
Maximum [Member] | |
Exercise Price, Warrant, Beginning Balance (in dollars per share) | 0.50 |
Exercise Price, Warrant, Granted (in dollars per share) | 0.30 |
Exercise Price, Warrant, Expired (in dollars per share) | 0.50 |
Exercise Price, Warrant, Ending Balance (in dollars per share) | 0.30 |
Weighted Average [Member] | |
Exercise Price, Warrant, Beginning Balance (in dollars per share) | 0.32 |
Exercise Price, Warrant, Granted (in dollars per share) | 0.25 |
Exercise Price, Warrant, Expired (in dollars per share) | 0.37 |
Exercise Price, Warrant, Ending Balance (in dollars per share) | $ 0.24 |
Note 4 - Stockholders' Defici32
Note 4 - Stockholders' Deficit - Summary of Stock Purchase Warrants Outstanding By Expiry Date (Details) - $ / shares | 9 Months Ended | ||
Mar. 31, 2017 | Jun. 30, 2016 | ||
Class of Warrant or Right, Outstanding (in shares) | 5,990,889 | 12,506,309 | |
Warrant One [Member] | |||
Class of Warrant or Right, Expiry Date | Nov. 25, 2016 | ||
Class of Warrant or Right, Exercise Price (in dollars per share) | $ 0.30 | ||
Class of Warrant or Right, Outstanding (in shares) | 8,501,786 | ||
Warrant Two [Member] | |||
Class of Warrant or Right, Expiry Date | Nov. 25, 2016 | ||
Class of Warrant or Right, Exercise Price (in dollars per share) | $ 0.50 | ||
Class of Warrant or Right, Outstanding (in shares) | 2,754,523 | ||
Warrant Three [Member] | |||
Class of Warrant or Right, Expiry Date | Apr. 30, 2017 | ||
Class of Warrant or Right, Exercise Price (in dollars per share) | $ 0.30 | ||
Class of Warrant or Right, Outstanding (in shares) | 492,076 | ||
Warrant Four [Member] | |||
Class of Warrant or Right, Expiry Date | May 31, 2017 | ||
Class of Warrant or Right, Exercise Price (in dollars per share) | $ 0.30 | ||
Class of Warrant or Right, Outstanding (in shares) | 204,348 | ||
Warrant Five [Member] | |||
Class of Warrant or Right, Expiry Date | [1] | Oct. 31, 2017 | |
Class of Warrant or Right, Exercise Price (in dollars per share) | $ 0.30 | ||
Class of Warrant or Right, Outstanding (in shares) | 3,209,465 | ||
Warrant Six [Member] | |||
Class of Warrant or Right, Expiry Date | Oct. 31, 2017 | ||
Class of Warrant or Right, Exercise Price (in dollars per share) | $ 0.20 | ||
Class of Warrant or Right, Outstanding (in shares) | 835,000 | ||
Warrant Seven [Member] | |||
Class of Warrant or Right, Expiry Date | May 5, 2020 | ||
Class of Warrant or Right, Exercise Price (in dollars per share) | $ 0.08 | ||
Class of Warrant or Right, Outstanding (in shares) | 1,250,000 | 1,250,000 | |
[1] | During the nine months ended March 31, 2017, 3,209,465 warrants expiring November 25, 2016 were extended to October 31, 2017. |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) | 9 Months Ended |
Mar. 31, 2017USD ($) | |
Operating Loss Carryforwards | $ 45,200,000 |
Deferred Income Tax Expense (Benefit) | 0 |
Current Income Tax Expense (Benefit) | $ 0 |
Note 6 - Supplemental Disclos34
Note 6 - Supplemental Disclosure of Cash Flow Information - Supplemental Disclosure of Cash Flow Information (Details) - USD ($) | Jan. 06, 2017 | Oct. 11, 2016 | Sep. 02, 2016 | Mar. 31, 2017 | Mar. 31, 2016 |
Prepaid expenses | $ 36,154 | $ 39,152 | |||
Accounts receivable | (4,478) | (7,770) | |||
Accounts payable and accruals | 776,853 | 591,523 | |||
Related party payable | 367,243 | ||||
1,175,772 | 622,905 | ||||
Subscriptions received in prior year | 107,500 | ||||
Stock Issued During Period Value Settlement of Debt | 106,500 | ||||
Pursuant to debt agreements | $ 14,000 | $ 10,500 | $ 14,000 | 10,500 | |
Settlement of convertible debenture | 113,945 | 1,047,182 | |||
Debt reduction and adjustment on extinguishment | 76,486 | 348,437 | |||
Financed prepaid D&O insurance | $ 91,221 |
Note 7 - Related Party Transa35
Note 7 - Related Party Transactions (Details Textual) - USD ($) | Mar. 31, 2017 | Jun. 30, 2016 |
Executives [Member] | ||
Due to Related Parties | $ 397,243 | $ 30,000 |
Note 8 - Segment Information (D
Note 8 - Segment Information (Details Textual) | 9 Months Ended |
Mar. 31, 2017 | |
Number of Operating Segments | 1 |
Note 9 - Convertible Debentur37
Note 9 - Convertible Debentures (Details Textual) - USD ($) | Mar. 31, 2017 | Mar. 28, 2017 | Mar. 09, 2017 | Feb. 09, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Jun. 30, 2016 |
Proceeds from Convertible Debt | $ 90,000 | $ 838,950 | |||||||
Derivative Liability, Current | $ 186,968 | $ 186,968 | 186,968 | $ 142,797 | |||||
Gain (Loss) on Extinguishment of Debt | (7,600) | (42,580) | $ 142,297 | (76,486) | 144,224 | ||||
Convertible Debt, Current | 1,151,373 | 1,151,373 | 1,151,373 | 664,621 | |||||
Fair Value of Warrant Liability | $ 32,800 | $ 32,800 | $ 32,800 | 87,500 | |||||
Convertible Debenture Issued to Power Up Lending Group [Member] | |||||||||
Proceeds from Convertible Debt | $ 55,000 | $ 35,000 | |||||||
Payments of Debt Issuance Costs | $ 3,000 | $ 3,500 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | 12.00% | ||||||
Debt Instrument, Term at Which Debt May be Converted | 180 days | ||||||||
Debt Instrument, Convertible, Price as a Percentage of Market Price | 63.00% | ||||||||
Debt Instrument, Convertible, Threshold Trading Days | 10 | ||||||||
Debt Instrument, Convertible, Threshold, Maximum Percentage of Outstanding Shares | 4.99% | ||||||||
Debt Instrument, Stated Percentage, Interest Rate on Defaulted Principal | 22.00% | 22.00% | 22.00% | ||||||
Derivative Liability, Current | $ 22,384 | $ 22,384 | $ 22,384 | ||||||
Proceeds From Issuance of Convertible Debt, Portion Allocated to Debt Components | $ 67,616 | ||||||||
Convertible Debenture Issued to Power Up Lending Group [Member] | First 30 Days [Member] | |||||||||
Debt Instrument, Repurchase, Percentage of Outstanding Principal | 115.00% | 115.00% | 115.00% | ||||||
Convertible Debenture Issued to Power Up Lending Group [Member] | Debt Repaid From 31 to 60 Days [Member] | |||||||||
Debt Instrument, Repurchase, Percentage of Outstanding Principal | 120.00% | 120.00% | 120.00% | ||||||
Convertible Debenture Issued to Power Up Lending Group [Member] | Debt Repaid From 61 to 90 Days [Member] | |||||||||
Debt Instrument, Repurchase, Percentage of Outstanding Principal | 125.00% | 125.00% | 125.00% | ||||||
Convertible Debenture Issued to Power Up Lending Group [Member] | Debt Repaid From 91 to 120 Days [Member] | |||||||||
Debt Instrument, Repurchase, Percentage of Outstanding Principal | 130.00% | 130.00% | 130.00% | ||||||
Convertible Debenture Issued to Power Up Lending Group [Member] | Debt Repaid From 121 to 150 Days [Member] | |||||||||
Debt Instrument, Repurchase, Percentage of Outstanding Principal | 135.00% | 135.00% | 135.00% | ||||||
Convertible Debenture Issued to Power Up Lending Group [Member] | Debt Repaid From 151 to 180 Days [Member] | |||||||||
Debt Instrument, Repurchase, Percentage of Outstanding Principal | 140.00% | 140.00% | 140.00% | ||||||
Debt Modified to Add Conversion Feature [Member] | |||||||||
Debt Instrument, Convertible, Price as a Percentage of Market Price | 70.00% | ||||||||
Debt Instrument, Convertible, Threshold Trading Days | 10 | ||||||||
Debt Instrument, Convertible, Threshold, Maximum Percentage of Outstanding Shares | 4.99% | ||||||||
Debt Instrument, Stated Percentage, Interest Rate on Defaulted Principal | 22.00% | ||||||||
Derivative Liability, Current | $ 70,357 | $ 70,357 | $ 70,357 | ||||||
Proceeds From Issuance of Convertible Debt, Portion Allocated to Debt Components | 45,803 | ||||||||
Debt Instrument, Face Amount | $ 88,000 | ||||||||
Loans Payable | 135,520 | ||||||||
Convertible Debt | $ 116,160 | ||||||||
Gain (Loss) on Extinguishment of Debt | 19,360 | ||||||||
Convertible Debenture [Member] | |||||||||
Derivative Liability, Current | 186,968 | 186,968 | 186,968 | 142,797 | |||||
Debt Instrument, Face Amount | 1,327,317 | 1,327,317 | 1,327,317 | 1,189,649 | |||||
Convertible Debt, Current | 1,151,373 | 1,151,373 | 1,151,373 | 664,621 | |||||
Fair Value of Warrant Liability | $ 32,800 | 32,800 | 32,800 | $ 87,500 | |||||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | $ (4,995) | (848,208) | $ 29,143 | (887,707) | |||||
Shares of Common Stock Required to Settle Remaining Tranches of Convertible Debt | 5,665,990 | 5,665,990 | 5,665,990 | 1,374,041 | |||||
Debt Instrument, Convertible, Conversion Price | $ 0.03 | $ 0.03 | $ 0.03 | $ 0.11 | |||||
Interest Payable | $ 121,157 | $ 121,157 | $ 121,157 | $ 146,087 | |||||
Amortization of Debt Discount (Premium) | $ 396,778 | $ 176,273 | 433,945 | $ 380,577 | |||||
Outstanding Debentures [Member] | |||||||||
Embedded Derivative, Gain on Embedded Derivative | 29,184 | ||||||||
Extinguished Debenture [Member] | |||||||||
Embedded Derivative, Loss on Embedded Derivative | $ 41 |
Note 9 - Convertible Debentur38
Note 9 - Convertible Debentures - Assumptions Used to Determine Fair Value of Derivative Liabilities (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Jun. 30, 2016 | |
Derivative Financial Liability at Inception [Member] | Minimum [Member] | ||
Share price (in dollars per share) | $ 0.06 | |
Conversion price (in dollars per share) | $ 0.034 | |
Expected life (years) (Year) | 65 days | |
Interest rate | 0.42% | |
Volatility | 76.39% | |
Derivative Financial Liability at Inception [Member] | Maximum [Member] | ||
Share price (in dollars per share) | $ 0.50 | |
Conversion price (in dollars per share) | $ 0.37 | |
Expected life (years) (Year) | 2 years | |
Interest rate | 1.04% | |
Volatility | 135.16% | |
Derivative Financial Instruments, Warrant Liability [Member] | ||
Share price (in dollars per share) | $ 0.09 | $ 0.16 |
Conversion price (in dollars per share) | $ 0.06 | $ 0.09 |
Expected life (years) (Year) | 1 year 124 days | 1 year 310 days |
Interest rate | 0.58% | 0.58% |
Volatility | 92.00% | 92.00% |
Derivative Financial Liability at Balance Sheet Date [Member] | ||
Share price (in dollars per share) | $ 0.06 | $ 0.16 |
Conversion price (in dollars per share) | $ 0.04 | $ 0.11 |
Derivative Financial Liability at Balance Sheet Date [Member] | Minimum [Member] | ||
Expected life (years) (Year) | 62 days | 310 days |
Interest rate | 0.76% | 0.45% |
Volatility | 91.50% | 91.50% |
Derivative Financial Liability at Balance Sheet Date [Member] | Maximum [Member] | ||
Expected life (years) (Year) | 273 days | 1 year 91 days |
Interest rate | 0.91% | 0.50% |
Volatility | 136.71% | 122.29% |
Note 10 - Loans Payable (Cont39
Note 10 - Loans Payable (Continued) (Details Textual) - USD ($) | Mar. 31, 2017 | Mar. 02, 2017 | Jan. 06, 2017 | Oct. 24, 2016 | Oct. 11, 2016 | Sep. 02, 2016 | Jan. 01, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 28, 2017 | Jan. 29, 2017 | Dec. 13, 2016 | Nov. 29, 2016 | Jun. 30, 2016 |
Prepaid Insurance | $ 0 | $ 0 | $ 0 | $ 45,609 | ||||||||||||
Debt Settlement Agreement, Debt Settled By Means of Stock Issuance | $ 49,400 | |||||||||||||||
Debt Settlement Agreement, Number of Shares Agreed to Issue | 950,000 | |||||||||||||||
Debt Settlement Agreement, Value of Shares Agreed to Issue | $ 57,000 | |||||||||||||||
Gain (Loss) on Extinguishment of Debt | (7,600) | (42,580) | $ 142,297 | (76,486) | $ 144,224 | |||||||||||
Stock Issued During Period, Shares, Debt Agreements | 100,000 | 75,000 | 100,000 | |||||||||||||
Promissory Note, Default, Percentage of Balance Increase | 140.00% | |||||||||||||||
Stock Issued During Period, Value, Debt Agreements | $ 14,000 | $ 10,500 | $ 14,000 | 10,500 | ||||||||||||
New Financing Arrangement [Member] | Loans Payable [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 73,176 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.189% | |||||||||||||||
Debt Instrument, Periodic Payment | $ 8,131 | |||||||||||||||
Short-term Debt | 0 | $ 0 | 0 | $ 32,522 | ||||||||||||
Short Term Loan Agreement [Member] | Loans Payable [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 110,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||||||||||||||
Interest Expense, Debt | $ 5,500 | |||||||||||||||
Amended Debt Agreement [Member] | Conversion of Debt Into Common Stock [Member] | ||||||||||||||||
Debt Settlement Agreement, Debt Settled By Means of Stock Issuance | 49,400 | |||||||||||||||
Debt Settlement Agreement, Debt Settled By Means of Stock Issuance, Interest Payable | $ 11,400 | |||||||||||||||
Promissory Note [Member] | Loans Payable [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 88,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||
Gain (Loss) on Extinguishment of Debt | $ 60,000 | |||||||||||||||
Proceeds from Notes Payable | $ 80,000 | |||||||||||||||
Debt Issuance Costs, Net | $ 8,000 | |||||||||||||||
Debt Instrument, Extension, Shares Agreed to Issue | 600,000 | 500,000 | ||||||||||||||
Debt Instrument, Extension, Obligation to Issue Shares | $ 55,000 | |||||||||||||||
Debt Modified to Add Conversion Feature [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 88,000 | |||||||||||||||
Gain (Loss) on Extinguishment of Debt | $ 19,360 | |||||||||||||||
Loans Payable | 135,520 | |||||||||||||||
Convertible Debt | $ 116,160 | |||||||||||||||
Promissory Note 2 [Member] | Loans Payable [Member] | ||||||||||||||||
Proceeds from Notes Payable | $ 12,000 | |||||||||||||||
Promissory Note, Default, Percentage of Balance Increase | 140.00% | |||||||||||||||
Debt Instrument, Extension, Shares Agreed to Issue | 225,000 | |||||||||||||||
Debt Instrument, Extension, Obligation to Issue Shares | $ 27,000 | |||||||||||||||
Promissory Note, Common Shares Required to Be Issued Within 14 Days | 75,000 | |||||||||||||||
Promissory Note, Common Shares Required to Be Issued Within 14 Days, Value, Recognized as Interest Expense and Additional Paid In Capital | $ 10,500 |
Note 11 - Deferred Revenue (Det
Note 11 - Deferred Revenue (Details Textual) - USD ($) | Jun. 21, 2013 | Jul. 06, 2013 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Jun. 21, 2014 |
Period of License Agreement | 10 years | ||||||
License [Member] | |||||||
Period of License Agreement | 10 years | ||||||
Deferred Revenue, Additions | $ 250,000 | $ 250,000 | |||||
Deferred Revenue, Revenue Recognized | $ 12,500 | $ 12,500 | $ 37,500 | $ 37,500 |
Note 11 - Deferred Revenue - De
Note 11 - Deferred Revenue - Deferred Revenue (Details) - USD ($) | Mar. 31, 2017 | Jun. 30, 2016 |
Current | $ 50,000 | $ 50,000 |
Non-current | 283,333 | 320,833 |
$ 333,333 | $ 370,833 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - Subsequent Event [Member] - USD ($) | 2 Months Ended | |
May 21, 2017 | May 19, 2017 | |
Stock Issued During Period, Shares, Conversion of Convertible Securities | 2,223,540 | |
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 90,150 | |
Proceeds from Issuance of Debt | $ 30,000 | |
Interest Payable, Current | $ 500 | |
JMJ Financial [Member] | ||
Stock Issued During Period, Shares, New Issues | 9,100,000 |