DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Jun. 30, 2022

	Balance at June 30, 2022		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	$	151,262	$	—	$	—	$	151,262
Total	$	151,262	$	—	$	—	$	151,262

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2021:

	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 is a roll forward for the years ended June 30, 2022 and 2021 of the fair value liability of price adjustable derivative instruments:

	Fair Value of
	Liability for
	Derivative
	Instruments
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
Gain on debt extinguishment		(2,069	)
Change in fair value included in statements of operations		99,111
Balance at June 30, 2022	$	151,262