Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Jun. 30, 2017
CURRENT ASSETS:    
Cash $ 9,296 $ 69,043
GST tax receivable 2,357 8,111
Prepaid expenses and other current assets 87,634 4,822
TOTAL CURRENT ASSETS 99,287 81,976
Security deposit - related party 2,307 2,303
Property and equipment, net 9,152 10,790
TOTAL ASSETS 110,746 95,069
CURRENT LIABILITIES:    
Accounts payable 1,209,688 483,513
Accrued expenses and other payables 372,181 477,347
Convertible notes and related accrued interest, net of discounts and premiums 4,514,921 3,479,845
Loans payable 2,303
Embedded conversion option liabilities 555,166 877,403
Warrant derivative liability 3,769
Due to directors - related parties 34,192 35,204
Loans from directors and officer - related parties 56,906 56,802
Employee benefit liability 140,606 120,634
TOTAL CURRENT LIABILITIES 6,883,660 5,536,820
Commitments and Contingencies (See Note 7)
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 400,000,000 shares authorized; 31,084,610 and 4,578,284 shares issued; 31,060,132 and 4,553,806 outstanding as of March 31, 2018 and June 30, 2017, respectively 31,084 4,578
Additional paid-in capital 37,211,109 32,980,420
Accumulated other comprehensive loss (113,379) (141,749)
Accumulated deficit (43,860,251) (38,243,523)
Treasury stock (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (6,772,914) (5,441,751)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 110,746 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