NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES (Tables)
|
6 Months Ended |
12 Months Ended |
Dec. 31, 2024 |
Jun. 30, 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:
SCHEDULE OF TRANSACTION EXCHANGE RATES
| |
|
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 |
|
| |
|
|
|
|
|
|
|
|
|
As
of June 30, 2024 and 2023, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing
the consolidated financial statements were as follows:
SCHEDULE OF TRANSACTION EXCHANGE RATES
| |
|
June 30, 2024 |
|
|
June 30, 2023 |
|
| Exchange rate on balance sheet dates |
|
|
|
|
|
|
|
|
| USD : AUD exchange rate |
|
|
0.6693 |
|
|
|
0.6664 |
|
| |
|
|
|
|
|
|
|
|
| Average exchange rate for the period |
|
|
|
|
|
|
|
|
| USD : AUD exchange rate |
|
|
0.6557 |
|
|
|
0.6732 |
|
|
| SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS |
The
change in Accumulated Other Comprehensive Income by component during the six months ended December 31, 2024 was as follows:
SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME
| |
|
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 |
|
|
Change
in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2024 and 2023 were as follows:
SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS
| |
|
Foreign
Currency Items:
|
|
| Beginning balance, June 30, 2022 |
|
$ |
1,234,549 |
|
| Foreign currency translation gain |
|
|
60,327 |
|
| Balance, June 30, 2023 |
|
|
1,294,876 |
|
| Foreign currency translation loss |
|
|
(25,295 |
) |
| Ending balance, June 30, 2024 |
|
$ |
1,269,581 |
|
|
| SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES |
The
estimated useful lives are as follows:
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES
| Machinery
and equipment |
-
5 years |
| Furniture |
-
7 years |
|
The
estimated useful lives are as follows:
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES
| Machinery
and equipment |
-
5 years |
| Furniture |
-
7 years |
|
| SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS |
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 |
|
SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS
| |
|
June 30, 2024 |
|
|
June 30, 2023 |
|
| |
|
|
|
|
|
|
| Stock Options |
|
|
- |
|
|
|
- |
|
| Warrants with no designations |
|
|
250 |
|
|
|
- |
|
| Series A Warrants as if converted at alternate cashless exercise prices |
|
|
33,173 |
|
|
|
33,277 |
|
| Series B Warrants |
|
|
- |
|
|
|
- |
|
| Series C Warrants as if converted at alternate cashless exercise prices * |
|
|
152,933 |
|
|
|
157,900 |
|
| Unvested restricted stock units |
|
|
- |
|
|
|
- |
|
| Convertible Debt |
|
|
6,562 |
|
|
|
100 |
|
| Total |
|
|
192,918 |
|
|
|
191,277 |
|
| * |
|
Only convertible
ratably upon exercise of Series B Warrants |
|