Existing stock optionsStock options The Company’s stock option plan allows the directors to grant stock options of up to 10% of the issued and outstanding common shares at the time. At December 31, 2016, the stock option pool is at 6,960,895. A summary of the Company’s stock options activity for the six months ended December 31, 2016 and 2015 is presented below. 2016 2015 Number of options Weighted average exercise price Number of options Weighted average exercise price Beginning balance June 30 3,598,389 0.40 3,449,500 0.40 Granted 1,300,000 0.05 845,000 0.21 Exercised - - - - Expired (13,889) 0.17 (325,000) 0.60 Forfeited (157,500) 0.50 - - Balance at December 31 4,727,000 0.22 3,969,500 0.31 The following table summarizes information about stock options outstanding as at December 31, 2016. Exercise price Number of options Weighted average remaining contractual life in years 0.25 2,000,000 7.73 0.60 902,000 3.92 0.17 525,000 4.88 0.05 1,300,000 5.69 4,727,000