Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.19.3
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
REVENUE    
Revenue
OPERATING EXPENSES    
Administration expenses 2,326,350 2,103,684
Occupancy expenses 28,062 30,521
Research and development 260,335 1,825,728
TOTAL OPERATING EXPENSES 2,614,747 3,959,933
LOSS FROM OPERATIONS (2,614,747) (3,959,933)
OTHER INCOME (EXPENSE)    
Interest expense (1,314,539) (2,789,196)
Interest income 31 87
Change in fair value of derivative liabilities (2,472,146) (7,612)
Gain (loss) on debt settlements, net 14,101 (18,585)
Gain on extinguishment of debt, net 1,204,242 251,392
Foreign currency transaction loss (690,748) (694,614)
TOTAL OTHER EXPENSE (3,259,059) (3,258,528)
LOSS BEFORE TAXES (5,873,806) (7,218,461)
TAX BENEFIT 115,437 179,306
NET LOSS $ (5,758,369) $ (7,039,155)
BASIC AND DILUTED NET LOSS PER SHARE $ (10.97) $ (178.75)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 524,939 39,381
NET LOSS $ (5,758,369) $ (7,039,155)
OTHER COMPREHENSIVE INCOME (LOSS)    
Unrealized foreign currency translation gain 709,069 499,678
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 709,069 499,678
TOTAL COMPREHENSIVE INCOME (LOSS) $ (5,049,300) $ (6,539,477)