Quarterly report pursuant to Section 13 or 15(d)

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES (Tables)

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NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES (Tables)
3 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
SCHEDULE OF TRANSACTION EXCHANGE RATES

As of September 30, 2024 and June 30, 2024, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows:

 

    September 30, 2024     June 30, 2024  
Exchange rate on balance sheet dates                
USD : AUD exchange rate     0.6936       0.6693  
Average exchange rate for the period                
USD : AUD exchange rate     0.6668       0.6557  
SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME

The change in Accumulated Other Comprehensive Income by component during the three months ended September 30, 2024 was as follows:

 

    Foreign
Currency Items:
 
Balance, June 30, 2024   $ 1,269,581  
Unrealized foreign currency translation loss     (98,943 )
Ending balance, September 30, 2024   $ 1,170,638  
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES

The estimated useful lives are as follows:

 

Machinery and equipment - 5 years
Furniture - 7 years
SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS

 

    September 30, 2024     September 30, 2023  
    (Unaudited)     (Unaudited)  
Stock Options     0.06       0.06  
Stock Warrants with no designations     15,003,306       15,003,306  
Series A Warrants as if converted at alternate cashless exercise price     1,990,353,990       1,994,343,990  
Series B Warrants     16       16  
Series C Warrants as if converted at alternate cashless exercise price *     9,175,999,954       9,175,999,954  
Unvested restricted stock     0.06       0.06  
Convertible Debt     1,823,504,274       210,849,945  
Total     13,004,861,540.12       11,396,197,211.12  

 

* Only convertible ratably upon exercise of Series B Warrants