Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Jun. 30, 2021
CURRENT ASSETS:    
Cash $ 133,885 $ 2,255
GST tax receivable 2,216 4,341
Prepaid expenses and other current assets 8,405
TOTAL CURRENT ASSETS 144,506 6,596
Deferred offering costs 20,000
Security deposit - related party 2,248 2,250
Property and equipment, net 2,706 4,255
TOTAL ASSETS 169,460 13,101
CURRENT LIABILITIES:    
Accounts payable 967,213 1,002,335
Accrued expenses and other payables 486,558 892,151
Convertible notes and related accrued interest, net of discounts and premiums 1,075,702 624,583
Embedded conversion option liabilities 56,612 54,220
Due to former director - related party 33,321 33,347
Loan from former director - related party 55,456 55,500
Employee benefit liability 442,018 418,538
TOTAL CURRENT LIABILITIES 3,116,880 3,080,674
TOTAL LIABILITIES 3,116,880 3,080,674
Commitments and Contingencies (See Note 8)  
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 85,030,026 and 14,055,393 shares issued and outstanding as of March 31, 2022 and June 30, 2021, respectively 85,030 14,056
Common stock issuable (1,149,635 and 59 shares as of March 31, 2022 and June 30, 2021, respectively) 1,149
Additional paid-in capital 56,319,693 54,074,110
Accumulated other comprehensive income 1,086,604 1,085,204
Accumulated deficit (60,398,419) (58,199,466)
Treasury stock (1 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (2,947,420) (3,067,573)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 169,460 13,101
Series A Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock, 1,500,005 shares authorized, $0.01 par value: 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock, 1,500,005 shares authorized, $0.01 par value: