General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows

v3.19.3.a.u2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (1,491,940) $ (2,124,936) $ (5,758,369) $ (7,039,155)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:        
Issuance and amortization of common stock for services     245,145 130,000
Issuance of convertible promissory notes for services     310,000
(Gain) loss on settlements, net (14,421) (14,101) 18,585
Foreign currency transaction loss (gain) 535,150 280,707 690,748 694,614
Depreciation expense 636 529 2,306 2,225
Amortization of debt discounts 104,406 217,928 389,673 853,459
Change in fair value of derivative liabilities (518,956) 1,971,116 2,472,146 7,612
Gain on extinguishment of debt (1,185,871) (1,204,242) (251,392)
Stock based compensation expense 114,904    
Stock option expense     516,148
Reduction of put premium due to payment of debt     (80,769)
Accretion of put premium 538,974 343,771 706,154 1,784,231
Changes in Assets and Liabilities:        
GST receivable (640) 4,469 489 1,636
Prepaid expenses and other assets 37,145 2,102 (83,296) (29,842)
Accounts payable 77,057 16,378 (164,926) 732,794
Deferred rent 976    
Employee benefit liability 9,453 4,183 188,326 28,052
Accrued expenses (162,676) 4,179 377,846 (70,537)
Accrued interest 29,180 60,670 184,198 214,694
NET CASH USED IN OPERATING ACTIVITIES (726,331) (419,196) (2,060,037) (2,177,645)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchase of equipment     (2,874)
NET CASH USED IN INVESTING ACTIVITIES     (2,874)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Loan repayments     (2,326)
Proceeds from convertible promissory notes 948,000 533,389 1,369,000 2,890,080
Repayments of convertible promissory notes (53,000) (272,000) (490,181)
Proceeds from the issuance of common stock     1,100,380
Fees associated with offering costs     (15,000)
Debt issuance cost (83,000) (63,850)
Proceeds from the exercise of warrants 30 30
NET CASH PROVIDED BY FINANCING ACTIVITIES 865,000 480,419 2,118,560 2,396,488
Effect of exchange rate changes on cash (44,939) (42,230) (73,175) (267,965)
NET INCREASE DECREASE IN CASH 93,729 18,993 (17,527) (49,122)
CASH AT BEGINNING 2,394 19,921 19,921 69,043
CASH AT END 96,123 38,914 2,394 19,921
Supplemental Disclosure of Cash Flow Information        
Interest 2,665 100,719 16,899
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities        
Reduction of put premium related to conversions of convertible notes 73,235 600,209 1,824,317 948,129
Conversion of convertible notes and accrued interest to common stock 123,713 1,413,318 3,350,783 2,770,187
Deferred financing costs associated with equity purchase agreement     318,059
Discounts related to derivative liability 75,000 50,000 $ 180,000 $ 543,744
Discounts related to warrants issued with convertible note 375,905    
Operating lease right-of-use assets and operating lease liabilities recorded upon adoption of ASC 842 $ 46,696