SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES |
SCHEDULE
OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES
|
|
Initial
Valuations (on new derivative instruments entered into
during the three months ended September 30, 2021)
|
|
|
September
30, 2021 |
|
Volatility |
|
|
- |
|
|
|
206.00 |
% |
Expected Remaining Term (in years) |
|
|
- |
|
|
|
0.01 |
|
Risk Free Interest Rate |
|
|
- |
|
|
|
0.07 |
% |
Expected dividend yield |
|
|
None |
|
|
|
None |
|
|
SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES
Convertible
Debt
|
|
Initial Valuations during the year ended June 30, 2021 |
|
Initial
Valuations
during
the
year ended June 30, 2020
|
|
|
June
30, 2021 |
|
|
June
30, 2020 |
|
Volatility |
|
N/A |
|
227-279 |
% |
|
|
222 |
% |
|
|
264 |
% |
Expected
remaining term |
|
N/A |
|
1.00 |
|
|
|
0.01 |
|
|
|
0.01
– 0.70 |
|
Risk-free
interest rate |
|
N/A |
|
1.53
– 1.59 |
% |
|
|
0.05 |
% |
|
|
0.13
– 0.18 |
% |
Expected
dividend yield |
|
N/A |
|
None |
|
|
|
None
|
|
|
|
None
|
|
|
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS |
The
Company measures and reports at fair value the liability for derivative instruments. The fair value liabilities for price adjustable
warrants and embedded conversion options have been recorded as determined utilizing the Binomial Trees model. The following tables summarize
the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and June 30,
2021:
SCHEDULE
OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS
|
|
Balance
at September 30, 2021 |
|
|
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 |
|
$ |
58,124 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
58,124 |
|
Total |
|
$ |
58,124 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
58,124 |
|
|
|
Balance
at June 30, 2021 |
|
|
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 |
|
$ |
54,220 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
54,220 |
|
Total |
|
$ |
54,220 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
54,220 |
|
|
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS
|
|
Balance
at June 30, 2021 |
|
|
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 |
|
$ |
54,220 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
54,220 |
|
Total |
|
$ |
54,220 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
54,220 |
|
The
following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June
30, 2020:
|
|
Balance
at June 30, 2020 |
|
|
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 |
|
$ |
177,009 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
177,009 |
|
Total |
|
$ |
177,009 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
177,009 |
|
|
SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE |
The
following is a roll forward for the three months ended September 30, 2021 of the fair value liability of price adjustable derivative
instruments:
SCHEDULE
OF DERIVATIVE LIABILITIES AT FAIR VALUE
|
|
Fair Value
of |
|
|
|
Liability
for |
|
|
|
Derivative |
|
|
|
Instruments |
|
Balance at June 30, 2021 |
|
$ |
54,220 |
|
Change in fair value
included in statements of operations |
|
|
3,904 |
|
Balance at September
30, 2021 |
|
$ |
58,124 |
|
|
The
following is a roll forward for the years ended June 30, 2021 and 2020 of the fair value liability of price adjustable derivative instruments:
SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE
|
|
Fair
Value of |
|
|
|
Liability
for |
|
|
|
Derivative |
|
|
|
Instruments |
|
Balance
at June 30, 2019 |
|
$ |
698,264 |
|
Reductions
due to conversions |
|
|
(362,962 |
) |
Initial
fair value of embedded conversion option derivative liability recorded as debt discount |
|
|
227,000 |
|
Initial
fair value of embedded conversion option derivative liability recorded as expense |
|
|
351,461 |
|
Change
in fair value included in statements of operations |
|
|
(736,754 |
) |
Balance
at June 30, 2020 |
|
|
177,009 |
|
Gain
on debt extinguishment |
|
|
(130,975 |
) |
Change
in fair value included in statements of operations |
|
|
8,186 |
|
Balance
at June 30, 2021 |
|
$ |
54,220 |
|
|