Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Jun. 30, 2019
CURRENT ASSETS:    
Cash $ 67,007 $ 2,394
GST tax receivable 2,015 5,439
Prepaid expenses and other current assets 83,299
TOTAL CURRENT ASSETS 69,022 91,132
Security deposit - related party 2,067 2,103
Operating lease right-of-use assets, net - related party 21,682
Property and equipment, net 5,747 8,417
TOTAL ASSETS 98,518 101,652
CURRENT LIABILITIES:    
Accounts payable 842,156 917,337
Accrued expenses and other payables 702,231 723,042
Convertible notes and related accrued interest and premiums, net of discounts 1,557,734 1,657,377
Operating lease liability - related party 25,072
Embedded conversion option liabilities 177,009 698,264
Due to former director - related parties 30,639 31,164
Loans from directors and officer - related parties 50,993 51,867
Employee benefit liability 354,109 323,837
TOTAL CURRENT LIABILITIES 3,739,943 4,402,888
TOTAL LIABILITIES 3,739,943 4,402,888
Commitments and Contingencies (See Note 9)
STOCKHOLDERS' DEFICIT:    
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 258,120,381 and 968,042 shares issued; 258,120,332 and 967,993 outstanding as of June 30, 2020 and 2019, respectively 258,120 968
Additional paid-in capital 50,656,031 45,713,322
Accumulated other comprehensive income 1,267,671 1,066,998
Accumulated deficit (55,781,770) (51,041,047)
Treasury stock (49 shares) (46,477) (46,477)
TOTAL STOCKHOLDERS' DEFICIT (3,641,425) (4,301,236)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 98,518 101,652
Series A Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock, 1,500,005 shares authorized, $0.01 par value: 5,000 5,000
TOTAL STOCKHOLDERS' DEFICIT 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock, 1,500,005 shares authorized, $0.01 par value:
TOTAL STOCKHOLDERS' DEFICIT