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In large mixing bowl, stir together ½ cup water, yeast and sugar. Stir in ½ cup flour and let sit 15 minutes.
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To same bowl, add 2 cups flour, 1/3 cup water, salt and olive oil. With hands, knead until dough is combined. Cover and let rise at room temperature 2 hours.
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Knead dough again and separate into 8 equal balls, about ¼ cup dough each.
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Place pizza stone in oven and preheat oven to 425 degrees F.
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Sprinkle flour on flat work surface and, working with 1 dough ball at a time, press it into flat disk, then use floured rolling pin to roll it into 6-inch circle with 1/8-inch thickness. In center of circle, add 1 tablespoon pizza sauce and 2 tablespoons shredded cheese, leaving 1-inch around edge without sauce or cheese. Fold dough in half to form half-moon shape and press edge with fingers to seal. Crimp edge with fork tines and place aside before repeating with remaining balls of dough.
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Carefully arrange calzones on pizza stone and bake about 10 minutes until golden brown and cooked through.