General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (7,039,155) $ (7,867,500)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 130,000 670,037
Issuance of convertible promissory notes for services 310,000 500,000
Warrant modification expense 23,495
Loss on settlements, net 18,585 195,650
Foreign currency transaction loss (gain) 694,614 (144,605)
Depreciation expense 2,225 2,166
Amortization of debt discount 853,459 1,969,514
Change in fair value of derivative liabilities 7,612 (820,153)
Gain on extinguishment of debt (251,392)
Stock option expense 516,148 1,686,444
Reduction of put premium due to payment of debt (80,769)
Accretion of put premium 1,784,231 1,109,167
Changes in Assets and Liabilities:    
GST receivable 1,636 21,951
Prepaid expenses and other assets (29,842) (4,739)
Prepaid expenses and other assets - related parties 2,263
Accounts payable 732,794 147,951
Employee benefit liability 28,052 23,538
Payment for security deposit 1,660
Accrued expenses (70,537) 331,660
Accrued interest 214,694 100,865
NET CASH USED IN OPERATING ACTIVITIES (2,177,645) (2,050,636)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Loan repayments (2,326)
Proceeds from convertible promissory notes 2,890,080 1,634,500
Repayments of convertible promissory notes (490,181)
Proceeds from note payable 20,000
Repayment of note payable (20,000)
Repayment of related party loans (1,085)
Proceeds from the exercise of warrants 464,286
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,396,488 2,098,786
Effect of exchange rate changes on cash (267,965) (100,177)
NET DECREASE IN CASH (49,122) (52,027)
CASH AT BEGINNING OF YEAR 69,043 121,070
CASH AT END OF YEAR 19,921 69,043
Supplemental Disclosure of Cash Flow Information    
Interest 16,899 537
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Treasury stock re-purchased for reversal of debt conversion 46,477
Cancellation of shares for convertible note payable 112,500
Reduction of put premium related to conversions of convertible note 948,129 266,287
Conversion of convertible notes and accrued interest to common stock 2,770,187 1,406,736
Discounts related to warrants issued with convertible debenture 910,178
Discounts related to derivative liability 543,744 650,000
Settlement of accounts payable for shares of common stock $ 50,000