Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (783,300) $ (571,511)
Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities:    
Issuance of common stock for services and voluntary ratchet 69,726 159,000
Loss on settlement 405,002 0
Depreciation expense 0 258
Amortization of debt discount 98,013 0
Change in fair value of derivative liability (114,536) 259,251
Promissory note payable issued for services 50,000 0
Accretion of put premium 83,636 0
Original issue discount 2,500 0
Changes in Assets and Liabilities:    
GST receivable (1,705) (125)
Prepaid expenses and other assets (7,117) 0
Accounts payable 79,500 9,016
Employee benefit liability 1,920 2,938
Accrued expenses 16,551 65,989
NET CASH USED IN OPERATING ACTIVITIES (99,811) (75,184)
NET CASH USED IN INVESTING ACTIVITIES 0 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Bank overdraft 0 (6)
Related party expenses paid on behalf of company 2,164 25,122
Loan repayments to principal stockholder (8,725) (21,000)
Other loans 0 109,102
Proceeds from convertible promissory notes 22,700 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 16,139 113,218
Effect of exchange rate changes on cash 387 (966)
NET INCREASE (DECREASE) IN CASH (83,286) 37,068
CASH AT BEGINNING OF YEAR 87,799 0
CASH AT END OF YEAR 4,513 37,068
Cash paid during the period:    
Interest 0 0
Income Tax 0 0
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Conversion of accrued expenses to common stock 0 27,500
Conversion of convertible notes and accrued interest to common stock 152,102 0
Discounts related to warrants issued with convertible debenture 0 139,680
Discounts related to lender costs 27,500 0
Conversion of loan payable to convertible debenture 0 27,963
Conversion of loan payable to common stock $ 67,892 $ 0