Derivative Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2019

Convertible Debt

	Initial Valuations (on new derivative instruments entered into during the six months ended December 31, 2019)			December 31, 2019
Volatility		227.82	%		227.82	%
Expected Remaining Term (in years)		1			00.39 – 0.91
Risk Free Interest Rate		1.59	%		1.48% – 1.59	%
Expected dividend yield		None			None

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019:

	Balance at December 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	$	924,744	$	—	$	—	$	924,744
Total	$	924,744	$	—	$	—	$	924,744

The following is a roll forward for the six months ended December 31, 2019 of the fair value liability of price adjustable derivative instruments:

	Fair Value of
	Liability for
	Derivative
	Instruments
Balance at June 30, 2019	$	698,264
Initial fair value of embedded conversion option derivative liability recorded as debt discount		115,000
Initial fair value of embedded conversion option derivative liability recorded as expense		93,125
Reductions due to conversions		(44,588	)
Change in fair value included in statements of operations		62,943
Balance at December 31, 2019	$	924,744