Derivative Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2019

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019:

	Balance at June 30, 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	$	698,264	$	—	$	—	$	698,264
Total	$	698,264	$	—	$	—	$	698,264

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 is a roll forward for the years ended June 30, 2019 and 2018 of the fair value liability of price adjustable derivative instruments:

	Fair Value of
	Liability for
	Derivative
	Instruments
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
Reductions due to repayment of debt		(936,650	)
Reduction due to conversions		(1,388,764	)
Initial fair value of embedded conversion option derivative liability recorded as debt discount		180,000
Initial fair value of embedded conversion option derivative liability recorded as change in fair value of embedded conversion option		382,944
Change in fair value included in statements of operations		2,089,202
Balance at June 30, 2019	$	698,264

Warrants

Convertible Debt