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)
6 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SCHEDULE OF TRANSACTION EXCHANGE RATES

As of December 31, 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:

 

    December 31, 2024     June 30, 2024  
Exchange rate on balance sheet dates                
USD : AUD exchange rate     0.6183       0.6693  
                 
Average exchange rate for the period                
USD : AUD exchange rate     0.6594       0.6557  
                 
SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME

The change in Accumulated Other Comprehensive Income by component during the six months ended December 31, 2024 was as follows:

 

    Foreign
Currency Items:
 
Balance, June 30, 2024   $ 1,269,581  
Unrealized foreign currency translation gain     222,287  
Ending balance, December 31, 2024   $ 1,491,868  
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

 

    December 31, 2024     December 31, 2023  
    (Unaudited)     (Unaudited)  
Stock Options     -       -  
Stock Warrants with no designations     250       250  
Series A Warrants as if converted at alternate cashless exercise price     33,173       33,195  
Series B Warrants     -       -  
Series C Warrants as if converted at alternate cashless exercise price *     152,933       152,933  
Unvested restricted stock     -       -  
Convertible Debt     44,971       893  
Total     231,327       187,271  

 

* Only convertible ratably upon exercise of Series B Warrants