Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Jun. 30, 2017
CURRENT ASSETS:    
Cash $ 112,496 $ 69,043
GST tax receivable 4,386 8,111
Prepaid expenses and other current assets 4,822
TOTAL CURRENT ASSETS 116,882 81,976
Security deposit - related party 2,345 2,303
Property and equipment, net 9,854 10,790
TOTAL ASSETS 129,081 95,069
CURRENT LIABILITIES:    
Accounts payable 1,439,162 483,513
Accrued expenses and other payables 188,903 477,347
Convertible notes and related accrued interest, net of discounts and premiums 4,417,450 3,479,845
Loans payable 2,345 2,303
Embedded conversion option liabilities 1,001,715 877,403
Warrant derivative liability 143 3,769
Due to directors - related parties 35,842 35,204
Loans from directors and officer - related parties 57,831 56,802
Employee benefit liability 135,010 120,634
TOTAL CURRENT LIABILITIES 7,278,401 5,536,820
Commitments and Contingencies (See Note 7)
STOCKHOLDERS' DEFICIT:    
Common stock, $0.001 par value; 400,000,000 shares authorized; 17,693,284 and 4,578,284 shares issued; 17,668,806 and 4,553,806 outstanding as of December 31, 2017 and June 30, 2017, respectively 17,693 4,578
Additional paid-in capital 35,555,722 32,980,420
Accumulated other comprehensive loss (312,013) (141,749)
Accumulated deficit (42,369,245) (38,243,523)
Treasury stock (46,477) (46,477)
TOTAL STOCKHOLDERS' DEFICIT (7,149,320) (5,441,751)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 129,081 95,069
Series A Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value