Derivative Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

12 Months Ended

Dec. 31, 2018

Jun. 30, 2018

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

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2018:

	Balance at June 30, 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	$	371,532	$	—	$	—	$	371,532
Total	$	371,532	$	—	$	—	$	371,532

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2017:

	Balance at June 30, 2017		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	$	877,403	$	—	$	—	$	877,403
Fair value of liability for warrant derivative instruments	$	3,769	$	—	$	—	$	3,769
Total	$	881,172	$	—	$	—	$	881,172

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

The following is a roll forward for the years ended June 30, 2018 and 2017 of the fair value liability of price adjustable derivative instruments:

	Fair Value of
	Liability for
	Derivative
	Instruments
Balance at June 30, 2016	$	1,050,182
Effects of foreign currency exchange rate changes		1,143
Initial fair value of embedded conversion option derivative liability recorded as debt discount		650,000
Initial fair value of embedded conversion option derivative liability recorded as change in fair value of embedded conversion option		214,758
Change in fair value included in statements of operations		(1,034,911	)
Balance at June 30, 2017		881,172
Effects of foreign currency exchange rate changes		38
Reductions due to conversions		(861,695	)
Reductions due to repayment of debt		(199,339	)
Initial fair value of embedded conversion option derivative liability recorded as debt discount		543,744
Initial fair value of embedded conversion option derivative liability recorded as change in fair value of embedded conversion option		313,694
Change in fair value included in statements of operations		(306,082	)
Balance at June 30, 2018	$	371,532

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

Convertible Debt

Warrants