Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.26.3
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (18,862,710) $ (58,923,300)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Issuance of common stock for services 4,993,748 51,348,000
Stock based settlement 75,000
Amortization of prepaid stock based expenses 8,498,492 4,621,230
Foreign currency transaction loss (gain) (32,152) 89,243
Depreciation expense 997
Amortization of debt discounts 210,076 303,563
Amortization of right-of-use assets 21,706 20,187
Change in fair value of derivative liabilities (13,709) (212,450)
Change in fair value of warrant liability 99,695
Derivative expense 333,596
Loss (gain) on extinguishment of debt, net (133,071) 871,032
Non-cash interest expense 6,781 5,519
Accretion of put premium 37,450
Changes in Assets and Liabilities:    
GST receivable (8,117) (2,405)
Prepaid expenses (41,121) 1,379
Other current assets (33,471)
Accounts payable (183,012) 187,732
Employee benefit liability 51,476 40,184
Accrued expenses and other payables (401,049) 677,889
Accrued interest 44,545 255,155
Operating lease liability (14,189) (21,722)
NET CASH USED IN OPERATING ACTIVITIES (5,682,635) (405,168)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (4,933)
NET CASH USED IN INVESTING ACTIVITIES (4,933)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes, net of original issue discounts and issue costs 100,000 222,500
Proceeds from issuance of the initial preferred shares of Series C Preferred stock, net of issuance cost included as temporary equity 950,099
Proceeds from exercise of Series C warrants 3,000,000
Repayment of convertible notes (203,350) (8,000)
Repayment of notes (671,777) (122,788)
Repayment of loans payable - related party (185,381)
Proceeds from the sale of common stock, net of offering costs 3,314,458
Proceeds from note payable 75,000 320,000
Proceeds from loans payable - related parties 78,249 343,700
Deferred offering costs (264,656)
NET CASH PROVIDED BY FINANCING ACTIVITIES 6,457,298 490,756
Effect of exchange rate changes on cash 50,188 (94,585)
NET INCREASE (DECREASE) IN CASH 819,918 (8,997)
CASH AT BEGINNING OF YEAR 12,088 21,085
CASH AT END OF YEAR 832,006 12,088
Cash paid during the year:    
Interest 131,687 30,715
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Reduction of put premium related to conversions of convertible notes 114,399 10,229
Conversion of convertible notes and accrued interest to common stock 476,335 79,686
Settlement of accounts payable for shares of common stock 129,354
Settlement of loans to former director for shares of common stock 74,395
Settlement of loans payable including accrued interest for shares of common stock 125,765 86,248
Deferred offering cost charged to additional paid in capital upon closing of offering 291,773
Issuance of common stock related to debt exchange agreement 125,765
Debt discounts related to derivative liability 222,500
Operating lease right-of-use asset and operating lease liability pursuant to ASC 842 62,126
Issuance of common stock and common stock issuable for prepaid services (net of amortized portion) 885,554 19,259,880
Deemed dividend related to Series C Preferred Stock 932,246
Reclassification of warrant liability into equity upon conversions and reclassifications 982,040
Reclassification of temporary equity into permanent equity upon amendment of Series C Preferred designation $ 1,000,000