Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions (Details Narrative)

v3.20.1
Related Party Transactions (Details Narrative)
1 Months Ended 9 Months Ended 12 Months Ended
May 14, 2019
USD ($)
$ / shares
shares
May 14, 2019
AUD ($)
shares
Mar. 16, 2018
USD ($)
Mar. 16, 2018
AUD ($)
Feb. 01, 2018
USD ($)
May 05, 2016
USD ($)
May 05, 2016
AUD ($)
Feb. 25, 2016
USD ($)
Feb. 25, 2016
AUD ($)
Feb. 25, 2015
AUD ($)
May 31, 2019
shares
Mar. 31, 2020
USD ($)
$ / shares
Mar. 31, 2020
AUD ($)
Mar. 31, 2019
USD ($)
Mar. 31, 2019
AUD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2019
AUD ($)
Jun. 30, 2018
USD ($)
Jun. 30, 2018
AUD ($)
Mar. 31, 2020
AUD ($)
May 05, 2016
AUD ($)
Loans from related party                       $ 45,155       $ 51,867          
Due to related parties                       $ 27,131       31,164          
Restricted stock shares of common stock | shares                     78,000                    
Stock price | $ / shares                       $ 0.03                  
Board of Directors [Member]                                          
Payments form related party                                   $ 56,056      
Chief Executive Officer [Member]                                          
Payments form related party                       $ 138,162       64,377          
Bonus payable amount                               137,120          
Remaining bonus amount                               178,256          
Remaining due and payable                       102,135                  
Restricted stock shares of common stock | shares                     39,000                    
Nathanielsz Employment Agreement [Member]                                          
Expired date                   Feb. 25, 2019                      
Annual salary                       $ 205,680                  
Percentage of pension of monthly salary                       9.50% 9.50%                
Percentage of bonus of annual base salary                       200.00% 200.00%                
Nathanielsz Employment Agreement [Member] | Minimum [Member]                                          
Annual salary     $ 205,680                                    
Nathanielsz Employment Agreement [Member] | Maximum [Member]                                          
Annual salary     274,240                                    
AUD Currency [Member] | Board of Directors [Member]                                          
Payments form related party                                     $ 80,046    
AUD Currency [Member] | Chief Executive Officer [Member]                                          
Payments form related party                         $ 202,620       $ 90,000        
Bonus payable amount                                 200,000        
Remaining bonus amount                                 $ 260,000        
Remaining due and payable                         167,380                
AUD Currency [Member] | Nathanielsz Employment Agreement [Member]                                          
Annual salary                   $ 25,000     300,000                
AUD Currency [Member] | Nathanielsz Employment Agreement [Member] | Minimum [Member]                                          
Annual salary       $ 300,000                                  
AUD Currency [Member] | Nathanielsz Employment Agreement [Member] | Maximum [Member]                                          
Annual salary       400,000                                  
Initial Nathanielsz RSUs [Member] | Employment Agreement [Member]                                          
Restricted stock shares of common stock | shares 39,000 39,000                                      
Additional Nathanielsz RSUs [Member] | Employment Agreement [Member]                                          
Restricted stock shares of common stock | shares 39,000 39,000                                      
RSUS vest, shares | shares 7,800 7,800                                      
Gross proceeds from equity financing $ 4,000,000                                        
Restricted Stock Units [Member] | Employment Agreement [Member]                                          
Restricted stock shares of common stock | shares 78,000 78,000                                      
Stock price | $ / shares $ 4.25                                        
Restricted stock value $ 331,500                                        
Fair value of restricted stock $ 165,747                                        
Initial Kenyon RSUs [Member] | Services Agreement [Member]                                          
Restricted stock shares of common stock | shares 19,500 19,500                                      
Additional Kenyon RSUs [Member] | Services Agreement [Member]                                          
Restricted stock shares of common stock | shares 19,500 19,500                                      
RSUS vest, shares | shares 4,875 4,875                                      
Gross proceeds from equity financing $ 4,000,000                                        
North Horizon Pty Ltd [Member]                                          
Lease term           5 years                             5 years
Annual rental payments           $ 28,790                              
Goods and service tax           2,618                              
Future minimum payments due                       $ 29,602                  
North Horizon Pty Ltd [Member] | AUD Currency [Member]                                          
Annual rental payments             $ 42,048                            
Goods and service tax             $ 3,823                            
North Horizon Pty Ltd [Member] | AUD Currency [Member]                                          
Future minimum payments due                                       $ 43,796  
Current and Former Director [Member]                                          
Loans from related party                       45,155       51,867          
Former Director [Member]                                          
Due to related parties                       27,131       $ 31,164          
Nathanielsz [Member] | North Horizon Pty Ltd [Member]                                          
Future minimum payments due           $ 143,953                              
Nathanielsz [Member] | North Horizon Pty Ltd [Member] | AUD Currency [Member]                                          
Future minimum payments due                                         $ 210,242
Mr. Nathanielsz [Member]                                          
Annual salary         $ 82,272                                
Payments form related party                       $ 19,869                  
Mr. Nathanielsz [Member] | Board of Directors [Member]                                          
Payments form related party                           $ 150,602              
Mr. Nathanielsz [Member] | AUD Currency [Member]                                          
Payments form related party                         $ 32,562                
Mr. Nathanielsz [Member] | AUD Currency [Member] | Board of Directors [Member]                                          
Payments form related party                             $ 219,954            
James Nathanielsz [Member]                                          
Payments form related party               $ 3,205                          
James Nathanielsz [Member] | AUD Currency [Member]                                          
Payments form related party                 $ 4,481                        
Mr. Nathanielsz [Member] | Board of Directors [Member]                                          
Officers' compensation $ 315,376   $ 210,090                                    
Mr. Nathanielsz [Member] | Employment Agreement [Member]                                          
Agreement term 3 years 3 years                                      
Agreement renewal term 1 year 1 year                                      
Option purchase shares | shares 39,000 39,000                                      
Excercise price | $ / shares $ 4.675                                        
Market price 110.00% 110.00%                                      
Granted exercise price | $ / shares $ 4.25                                        
Restricted stock shares of common stock | shares 39,000 39,000                                      
Option term 10 years 10 years                                      
Options vested, description The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz's continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz's continued employment with the Company through the applicable vesting date: (i) 7,800 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the "CTA") for PRP, the Company's lead product candidate ("PRP"), for a First-In-Human study for PRP (the "Study") in an applicable jurisdiction to be selected by the Company, (ii) 7,800 of the Additional Nathanielsz RSUs shall vest upon the CTA being approved in an applicable jurisdiction, (iii) 7,800 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iv) 7,800 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7,800 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested restricted stock unit shall be settled by delivery to Mr. Nathanielsz of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the 2019 Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Employment Agreement), (ii) the date that is ten business days following the vesting of such restricted stock unit, (iii) the date of Mr. Nathanielsz's death or Disability (as defined in the Employment Agreement), and (iv) Mr. Nathanielsz's employment being terminated either by the Company without Cause or by Mr. Nathanielsz for Good Reason (each as defined in the Employment Agreement). In the event of a Change of Control, any unvested portion of the Nathanielsz Options and such restricted stock units shall vest immediately prior to such event. The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz's continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz's continued employment with the Company through the applicable vesting date: (i) 7,800 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the "CTA") for PRP, the Company's lead product candidate ("PRP"), for a First-In-Human study for PRP (the "Study") in an applicable jurisdiction to be selected by the Company, (ii) 7,800 of the Additional Nathanielsz RSUs shall vest upon the CTA being approved in an applicable jurisdiction, (iii) 7,800 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iv) 7,800 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7,800 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested restricted stock unit shall be settled by delivery to Mr. Nathanielsz of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the 2019 Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Employment Agreement), (ii) the date that is ten business days following the vesting of such restricted stock unit, (iii) the date of Mr. Nathanielsz's death or Disability (as defined in the Employment Agreement), and (iv) Mr. Nathanielsz's employment being terminated either by the Company without Cause or by Mr. Nathanielsz for Good Reason (each as defined in the Employment Agreement). In the event of a Change of Control, any unvested portion of the Nathanielsz Options and such restricted stock units shall vest immediately prior to such event.                                      
Stock price | $ / shares $ 4.25                                        
Restricted stock value $ 165,747                                        
Exercise price | $ / shares $ 4.65                                        
Dividend yield 0.00% 0.00%                                      
Years to maturity 10 years 10 years                                      
Risk free rate 2.42% 2.42%                                      
Expected volatility 268.00% 268.00%                                      
Mr. Nathanielsz [Member] | AUD Currency [Member] | Board of Directors [Member]                                          
Officers' compensation   $ 460,000   $ 300,000                                  
Mr. Nathanielsz [Member] | AUD Currency [Member] | Employment Agreement [Member]                                          
Annual salary   400,000                                      
Dr Kenyon [Member] | AUD Currency [Member] | Services Agreement [Member]                                          
Annual salary   $ 54,000                                      
Dr Kenyon [Member] | Services Agreement [Member]                                          
Agreement term 3 years 3 years                                      
Agreement renewal term 1 year 1 year                                      
Option purchase shares | shares 19,500 19,500                                      
Excercise price | $ / shares $ 4.25                                        
Market price 100.00% 100.00%                                      
Granted exercise price | $ / shares $ 19,500                                        
Option term 10 years 10 years                                      
Options vested, description The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon's continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon's continued employment with the Company through the applicable vesting date: (i) 4,875 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 4,875 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 4,875 of the Additional Kenyon RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 4,875 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested Kenyon RSU shall be settled by delivery to Mr. Kenyon of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Services Agreement), (ii) the date that is ten business days following the vesting of such Kenyon RSU, (iii) the date of Dr. Kenyon's death or Disability (as defined in the Services Agreement), and (iv) Dr. Kenyon's employment being terminated either by the Company without Cause or by Dr. Kenyon for Good Reason (as defined in the Services Agreement). In the event of a Change of Control (as defined in the Services Agreement), 50% of any unvested portion of the Kenyon Options and the Kenyon RSUs shall vest immediately prior to such event. The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon's continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon's continued employment with the Company through the applicable vesting date: (i) 4,875 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 4,875 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 4,875 of the Additional Kenyon RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 4,875 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested Kenyon RSU shall be settled by delivery to Mr. Kenyon of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Services Agreement), (ii) the date that is ten business days following the vesting of such Kenyon RSU, (iii) the date of Dr. Kenyon's death or Disability (as defined in the Services Agreement), and (iv) Dr. Kenyon's employment being terminated either by the Company without Cause or by Dr. Kenyon for Good Reason (as defined in the Services Agreement). In the event of a Change of Control (as defined in the Services Agreement), 50% of any unvested portion of the Kenyon Options and the Kenyon RSUs shall vest immediately prior to such event.                                      
Stock price | $ / shares $ 4.25                                        
Restricted stock value $ 82,873                                        
Exercise price | $ / shares $ 4.25                                        
Dividend yield 0.00% 0.00%                                      
Years to maturity 10 years 10 years                                      
Risk free rate 2.42% 2.42%                                      
Expected volatility 268.00% 268.00%                                      
Dr Kenyon [Member] | Restricted Stock [Member] | Services Agreement [Member]                                          
Restricted stock shares of common stock | shares 39,000 39,000                                      
Stock price | $ / shares $ 4.25                                        
Restricted stock value $ 165,750                                        
Fair value of restricted stock $ 82,873