Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.22.2.2
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
REVENUE    
Revenue
OPERATING EXPENSES    
Administration expenses 1,706,452 1,553,075
Occupancy expenses – related party 28,366 28,112
Research and development 256,052 230,956
TOTAL OPERATING EXPENSES 1,990,870 1,812,143
LOSS FROM OPERATIONS (1,990,870) (1,812,143)
OTHER INCOME (EXPENSE)    
Interest expense (568,798) (449,457)
Interest income 5,613 1
Change in fair value of derivative liabilities (99,111) (8,186)
Gain from settlement of debt, net 49,319
Gain (loss) on extinguishment of debt, net (17,503) 50,607
Foreign currency transaction gain (loss) (42,395) 30,497
TOTAL OTHER EXPENSE, NET (722,194) (327,219)
LOSS BEFORE TAXES (2,713,064) (2,139,362)
Tax benefit 54,977 113,415
NET LOSS (2,658,087) (2,025,947)
Deemed Dividend (700,340) (391,749)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (3,358,427) $ (2,417,696)
BASIC AND DILUTED NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS $ (0.05) $ (0.80)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 68,218,701 3,032,612
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (3,358,427) $ (2,417,696)
OTHER COMPREHENSIVE INCOME (LOSS)    
Unrealized foreign currency translation gain (loss) 149,345 (182,467)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 149,345 (182,467)
TOTAL COMPREHENSIVE LOSS $ (3,209,082) $ (2,600,163)