Quarterly report pursuant to Section 13 or 15(d)

Note 13 - Subsequent Events

v3.10.0.1
Note 13 - Subsequent Events
 6 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Subsequent Events [Text Block]
NOTE
1
3
-
SUBSEQUENT EVENTS
 
Subsequent to the
six
months ended
December 31, 2017,
the following occurred:
 
 
(a)
On
February 20, 2018,
the Company entered into an exclusive technology license agreement with an arms-length vendor. In exchange for perpetual access to the Company’s technological assets, the Company will receive and/or be entitled to receive:
 
 
(i)
Upfront fee of
$1,000,0000
(received) within
10
business days of the agreement;
 
(ii)
Royalties as follows:
 
(a)
10%
of net sales effective years
one
to three;
 
(b)
7.5%
of net sales effective years
4
–
7;
and
 
(c)
5%
of net sales effective years
8
–
10.
 
 
(b)
Up to the date of this report, the Company issued a total of
18,093,241
common shares to settle convertible debt with a value of
$394,670
held by the Company.