DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
|
6 Months Ended |
12 Months Ended |
Dec. 31, 2022 |
Jun. 30, 2022 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
|
|
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 six months ended December 31, 2022)
|
|
|
December
31, 2022 |
|
Volatility |
|
|
228.29
– 256.02 |
% |
|
|
256.02 |
% |
Expected
Remaining Term (in years) |
|
|
0.22
– 0.28 |
|
|
|
0.22
- 0.28 |
|
Risk
Free Interest Rate |
|
|
3.13
– 4.42 |
% |
|
|
4.42 |
% |
Expected
dividend yield |
|
|
None |
|
|
|
None |
|
|
SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES
|
|
June
30, 2022 |
|
|
June
30, 2021 |
|
Volatility |
|
|
228 |
% |
|
|
222 |
% |
Expected
remaining term |
|
|
0.01 |
|
|
|
0.01 |
|
Risk-free
interest rate |
|
|
1.28 |
% |
|
|
0.05 |
% |
Expected
dividend yield |
|
|
None
|
|
|
|
None
|
|
|
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS |
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS
|
|
Balance
at December 31, 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 |
|
$ |
10,623 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
10,623 |
|
Total |
|
$ |
10,623 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
10,623 |
|
|
|
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 |
|
|
SCHEDULE
OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS
|
|
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 |
|
|
SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE |
The
following is a roll forward for the six months ended December 31, 2022 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, 2022 |
|
$ |
151,262 |
|
Initial
fair value of embedded conversion option derivative liability recorded as debt discount |
|
|
93,668 |
|
Reduction
of derivative liability upon debt conversion |
|
|
(106,799 |
) |
Change
in fair value included in statements of operations |
|
|
(127,508 |
) |
Balance
at December 31, 2022 |
|
$ |
10,623 |
|
|
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:
SCHEDULE
OF DERIVATIVE LIABILITIES AT FAIR VALUE
|
|
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 |
|
|