Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.4
Condensed Consolidated Balance Sheets
Dec. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
CURRENT ASSETS:    
Cash $ 561,237 $ 12,088
GST tax receivable 16,994 5,302
Prepaid expenses - current portion 7,127,293 8,334,046
Other current assets 1,400 1,380
TOTAL CURRENT ASSETS 7,706,924 8,352,816
Deferred offering costs 291,773
Prepaid expenses - long-term portion 7,347,310 10,925,835
Security deposit - related party 2,000 1,971
Operating lease right-of-use assets, net - related party 50,901 59,413
Property and equipment, net 4,397
TOTAL ASSETS 15,111,532 19,631,808
CURRENT LIABILITIES:    
Accounts payable 957,483 1,249,596
Accrued expenses and other payables 860,463 1,486,550
Accrued interest 168,152 190,795
Notes payable, net of discount 543,312
Convertible notes, net of discounts and including put premiums 55,000 537,921
Operating lease liability - related party, current portion 21,604 17,664
Warrant liability 288,635
Embedded conversion option liabilities 32,128 403,892
Employee benefit liability 703,190 667,901
TOTAL CURRENT LIABILITIES 3,624,018 5,578,240
NON-CURRENT LIABILITIES:    
Loan payable - long-term - related party, net of discount 105,627
Operating lease liability - long-term portion - related party 35,249 41,749
TOTAL NON-CURRENT LIABILITIES 35,249 147,376
TOTAL LIABILITIES 3,659,267 5,725,616
Temporary Equity – Convertible Preferred Stock Series C - $0.01 par value, $10,000 stated value, 9,900 shares designated and authorized, 100 (liquidation value of $1,000,000) and none issued and outstanding at December 31, 2025 and June 30, 2025, respectively 1,000,000
Commitments and Contingencies (See Note 9)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.001 par value; 10,000,000,000 shares authorized; 13,449,688 and 11,611,782 shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively 13,450 11,612
Common stock issuable (7,750 and 7,750 shares as of December 31, 2025 and June 30, 2025, respectively) 8 8
Additional paid-in capital 143,640,067 138,243,652
Accumulated other comprehensive income 1,328,115 1,318,917
Accumulated deficit (134,482,898) (125,621,520)
Treasury stock ($0.001 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ EQUITY 10,452,265 13,906,192
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 15,111,532 19,631,808
Series A Preferred Stock [Member]    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value
Series B Preferred Stock [Member]    
STOCKHOLDERS’ EQUITY:    
Preferred stock, value
Nonrelated Party [Member]    
CURRENT LIABILITIES:    
Loans payable 65,280 65,280
Related Party [Member]    
CURRENT ASSETS:    
Operating lease right-of-use assets, net - related party 50,901 59,413
CURRENT LIABILITIES:    
Loans payable 472,083 415,329
Operating lease liability - related party, current portion 21,604 17,664
NON-CURRENT LIABILITIES:    
Loan payable - long-term - related party, net of discount 0 105,627
Operating lease liability - long-term portion - related party $ 35,249 $ 41,749