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

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.20.2
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
REVENUE    
Revenue
OPERATING EXPENSES    
Administration expenses 3,281,464 2,326,350
Occupancy expenses 32,809 28,062
Research and development 179,987 260,335
TOTAL OPERATING EXPENSES 3,494,260 2,614,747
LOSS FROM OPERATIONS (3,494,260) (2,614,747)
OTHER INCOME (EXPENSE)    
Interest expense (1,748,381) (1,314,539)
Interest income 946 31
Other income 57,636
Derivative income (expense) 385,293 (2,472,146)
Gain on debt settlements, net 14,101
Gain on extinguishment of debt, net 67,123 1,204,242
Foreign currency transaction loss (143,808) (690,748)
TOTAL OTHER EXPENSE, NET (1,381,191) (3,259,059)
LOSS BEFORE TAXES (4,875,451) (5,873,806)
TAX BENEFIT 134,728 115,437
NET LOSS $ (4,740,723) $ (5,758,369)
BASIC AND DILUTED NET LOSS PER SHARE $ (0.19) $ (10.97)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 24,633,637 524,939
NET LOSS $ (4,740,723) $ (5,758,369)
OTHER COMPREHENSIVE INCOME    
Unrealized foreign currency translation gain 200,673 709,069
TOTAL OTHER COMPREHENSIVE INCOME 200,673 709,069
TOTAL COMPREHENSIVE INCOME (LOSS) $ (4,540,050) $ (5,049,300)