Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments and Fair Value Measurements (Tables)

v3.19.1
Derivative Financial Instruments and Fair Value Measurements (Tables)
9 Months Ended
Mar. 31, 2019
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 nine months
ended
March 31, 2019)
    March 31, 2019  
Volatility     294.92 %     348.33% – 409.24 %  
Expected Remaining Term (in years)     1       .36 - .66  
Risk Free Interest Rate     2.47 %     2.44% –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 March 31, 2019:

 

    Balance at
March 31, 2019
   

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   $ 11,097     $     $     $ 11,097  
Total   $ 11,097     $     $     $ 11,097  

Schedule of Derivative Liabilities at Fair Value

The following is a roll forward for the nine months ended March 31, 2019 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     (936,650 )
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 expense     346,380  
Change in fair value included in statements of operations     1,568,599  
Balance at March 31, 2019   $ 11,097