Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,574,974) $ (4,125,722)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 69,000 40,419
Issuance of convertible promissory notes for services 310,000
(Gain) loss on settlements, net (14,289) (36,814)
Foreign currency transaction loss (gain) 613,912 9,152
Depreciation expense 1,068 1,128
Amortization of debt discounts 303,813 400,284
Change in fair value of derivative liabilities 1,931,646 229,771
Gain on extinguishment of debt (1,165,516) 83,727
Stock option expense 329,761
Accretion of put premium 699,230 876,462
Changes in Assets and Liabilities:    
GST receivable (2,757) 3,862
Prepaid expenses and other assets (53,104) 4,897
Accounts payable (26,388) 952,931
Employee benefit liability 177,232 12,160
Accrued expenses (51,533) (265,568)
Accrued interest 107,643 102,224
NET CASH USED IN OPERATING ACTIVITIES (1,056,786) (1,071,326)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (1,662)
NET CASH USED IN INVESTING ACTIVITIES (1,662)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes 1,054,089 1,274,000
Repayments of convertible promissory notes (219,000)
Proceeds from the issuance of common stock 405,773
Fees associated with offering costs (15,000)
Proceeds from the exercise of warrants 30
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,225,892 1,274,000
Effect of exchange rate changes on cash (62,827) (159,221)
NET INCREASE IN CASH 104,617 43,453
CASH AT BEGINNING OF PERIOD 19,921 69,043
CASH AT END OF PERIOD 124,538 112,496
Supplemental Disclosure of Cash Flow Information    
Interest 8,585
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Reduction of put premium related to conversions of convertible notes 1,308,393 337,437
Conversion of convertible notes and accrued interest to common stock 2,508,417 1,377,928
Proceeds receivable from the issuance of common stock 168,787
Deferred financing costs associated with equity purchase agreement 298,923
Discounts related to derivative liability $ 50,000 $ 310,000