Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.10.0.1
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
REVENUE    
Revenue
OPERATING EXPENSES    
Administration expenses 2,103,684 4,739,431
Occupancy expenses 30,521 28,992
Research and development 1,825,728 971,769
TOTAL OPERATING EXPENSES 3,959,933 5,740,192
LOSS FROM OPERATIONS (3,959,933) (5,740,192)
OTHER INCOME (EXPENSE)    
Interest expense (2,789,196) (3,202,774)
Interest income 87 685
Change in fair value of derivative liabilities (7,612) 820,153
Loss on debt settlements, net (18,585) (195,650)
Gain on extinguishment of debt, net 251,392
Foreign currency transaction gain (loss) (694,614) 144,605
TOTAL OTHER INCOME (EXPENSE) (3,258,528) (2,432,981)
LOSS BEFORE TAXES (7,218,461) (8,173,173)
TAX BENEFIT 179,306 305,673
NET LOSS $ (7,039,155) $ (7,867,500)
BASIC AND DILUTED NET LOSS PER SHARE $ (0.36) $ (2.24)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 19,690,643 3,508,532
NET LOSS $ (7,039,155) $ (7,867,500)
OTHER COMPREHENSIVE INCOME (LOSS)    
Unrealized foreign currency translation gain (loss) 499,678 (273,013)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 499,678 (273,013)
TOTAL COMPREHENSIVE INCOME (LOSS) $ (6,539,477) $ (8,140,513)