Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments and Fair Value Measurements (Tables)

v3.10.0.1
Derivative Financial Instruments and Fair Value Measurements (Tables)
6 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

Convertible Debt

 

   

Initial Valuations

(on new derivative
instruments
entered into during
the six months ended

December 31, 2018)

    December 31, 2018  
Volatility     294.92 %     393.04% – 409.24 %
Expected Remaining Term (in years)     1       .61 - .66  
Risk Free Interest Rate     2.47 %     2.56 %
Expected dividend yield     None       None  

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2018:

 

    Balance at
December 31, 2018
   

Quoted Prices

in Active

Markets for

Identical Assets

   

Significant

Other

Observable Inputs

   

Significant

Unobservable Inputs

 
              (Level 1)       (Level 2)       (Level 3)  
Embedded conversion option liabilities   $ 66,490     $     $     $ 66,490  
Total   $ 66,490     $     $     $ 66,490  

Schedule of Derivative Liabilities at Fair Value

The following is a roll forward for the six months ended December 31, 2018 of the fair value liability of price adjustable derivative instruments:

 

    Fair Value of  
    Liability for  
    Derivative  
    Instruments  
Balance at June 30, 2018   $ 371,532  
Reductions due to conversions     (1,388,764 )
Reductions due to repayment of debt     (897,924 )
Initial fair value of embedded conversion option derivative liability recorded as debt discount     50,000  
Initial fair value of embedded conversion option derivative liability recorded as change in fair value of embedded conversion option     346,380  
Change in fair value included in statements of operations     1,585,266  
Balance at December 31, 2018   $ 66,490