General form for registration of securities under the Securities Act of 1933

Condensed Consolidated Statements of Cash Flows

v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (784,493) $ (935,250) $ (1,820,528) $ (2,660,566)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:        
Issuance and amortization of common stock for services 15,000 138,948
Stock option, stock warrants and restricted stock expense     2,408
Foreign currency transaction gain 75,698 (21,198) (22,080) (5,885)
Depreciation expense 248 297 1,665
Allowance on refundable advance deposit     120,958
Amortization of debt discounts 133,644 164,904 294,005 202,952
Amortization of right-of-use assets 9,866 10,871 21,359 21,266
Change in fair value of derivative liabilities (66,368) (302,158) (316,537) 530,330
Derivative expense 35,741 123,379 141,012
Gain on extinguishment of debt, net 30,078 (34,099) (54,565) (25,969)
Gain from settlement of accounts payable     (17,499)
Non-cash interest expense 4,582 1,597 3,832 1,838
Accretion of put premium 234,615 279,711 232,674
Changes in Assets and Liabilities:        
GST receivable 752 (977) (71) (610)
Prepaid expenses and other assets (80) (5,877) 4,746 2,182
Refundable advance deposit (123,127) (120,958)
Deferred offering costs (25,000) (25,000)
Accounts payable 102,374 169,359 242,408 80,975
Employee benefit liability 20,666 23,897 49,196 186,912
Accrued expenses and other payables 166,993 96,924 209,962 130,511
Accrued interest 49,350 35,323 78,733 92,474
Operating lease liability (10,589) (10,773) (21,598) (19,857)
NET CASH USED IN OPERATING ACTIVITIES (241,786) (572,342) (935,118) (1,105,251)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from convertible promissory notes, net of original issue discounts and issue costs 80,000 477,500 567,050 590,250
Repayment of convertible note (142,909) (142,909)
Proceeds from the sale of common stock     23,057 24,711
Repayment of notes (98,400)    
Proceeds from note payable 35,000 120,000 190,000
Proceeds from loans payable     79,811
Proceeds from loans payable - related party 278,915 169,685 224,885
Collection of subscription receivable     23,758
Proceeds from the exercise of warrants     475,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 295,515 624,276 941,894 1,113,719
Effect of exchange rate changes on cash (60,181) 9,669 4,262 (2,488)
NET INCREASE IN CASH (6,452) 61,603 11,038 5,980
CASH AT BEGINNING OF YEAR 21,085 10,047 10,047 4,067
CASH AT END OF YEAR 14,633 71,650 21,085 10,047
Supplemental Disclosure of Cash Flow Information        
Interest 17,599 6,189 9,491 2,883
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities        
Subscription receivable 8,822    
Reduction of put premium related to conversions of convertible notes 9,336 87,305 246,254 411,111
Conversion of convertible notes and accrued interest to common stock 71,836 203,365 560,483 1,016,285
Debt discounts related to derivative liability 80,000 125,000 150,000 93,668
Relative fair value of warrant granted in connection with a loan payable - related party 141,084 141,084
Deemed dividend upon alternate cashless exercise of warrants $ 177,160 192,960 466,273
Warrant grant for settlement of accounts payable     37,500
Warrants issued for accrued services     $ 5,551