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

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (5,944,711) $ (4,156,830) $ (5,758,369) $ (7,039,155)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:        
Issuance and amortization of common stock and warrants for services 1,045,610 197,247 245,145 130,000
Issuance of convertible promissory notes for services     310,000
(Gain) loss on settlements, net (14,200) (14,101) 18,585
Foreign currency transaction loss (gain) 2,053,010 488,813 690,748 694,614
Depreciation expense 1,859 1,661 2,306 2,225
Amortization of debt discounts 537,868 363,420 389,673 853,459
Change in fair value of derivative liabilities (298,374) 1,914,980 2,472,146 7,612
Gain on extinguishment of debt (81,011) (1,204,242) (1,204,242) (251,392)
Stock option expense     516,148
Reduction of put premium due to payment of debt     (80,769)
Stock option and restricted stock expense 225,312    
Non-cash interest expense 3,000
Accretion of put premium 836,724 767,000 706,154 1,784,231
Changes in Assets and Liabilities:        
GST receivable 192 1,652 489 1,636
Prepaid expenses and other assets 82,211 (130,851) (83,296) (29,842)
Accounts payable 207,071 (245,642) (164,926) 732,794
Deferred rent 2,379
Employee benefit liability 23,205 185,510 188,326 28,052
Accrued expenses (167,074) (16,792) 377,846 (70,537)
Accrued interest 122,798 146,603 184,198 214,694
NET CASH USED IN OPERATING ACTIVITIES (1,349,931) (1,793,805) (2,060,037) (2,177,645)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchase of equipment (2,874) (2,874)
NET CASH USED IN INVESTING ACTIVITIES (2,874) (2,874)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Loan repayments     (2,326)
Proceeds from convertible promissory notes, net of original issue discounts and issue costs 1,465,250 1,175,150 1,369,000 2,890,080
Repayments of convertible promissory notes (272,000) (272,000) (490,181)
Proceeds from the issuance of common stock 1,031,979 1,100,380
Fees associated with offering costs (15,000) (15,000)
Debt issuance cost     (63,850)
Proceeds from the exercise of warrants 30 30
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,465,250 1,920,159 2,118,560 2,396,488
Effect of exchange rate changes on cash (90,756) (36,191) (73,175) (267,965)
NET INCREASE IN CASH 24,563 87,289 (17,527) (49,122)
CASH AT BEGINNING OF PERIOD 19,921 19,921 19,921 69,043
CASH AT END OF PERIOD 26,957 107,210 19,921 19,921
Supplemental Disclosure of Cash Flow Information        
Interest 6,337 100,719 100,719 16,899
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities        
Reduction of put premium related to conversions of convertible notes 383,186 1,670,003 1,824,317 948,129
Conversion of convertible notes and accrued interest to common stock 922,754 3,091,749 3,350,783 2,770,187
Proceeds receivable from the issuance of common stock    
Discounts related to warrants issued with convertible notes 375,905
Deferred financing costs associated with equity purchase agreement 318,059 318,059
Discounts related to derivative liability 227,000 50,000 180,000 543,744
Settlement of accounts payable for shares of common stock    
Issue and amortization of common stock and warrants for services 1,024,610
Operating lease right-of-use asset and operating lease liability recorded on adoption of ASC 842 $ 46,696