Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Jun. 30, 2015
CURRENT ASSETS:    
Cash $ 1,168,118 $ 107,627
GST tax receivable 6,808 11,647
Prepaid expenses and other current assets 327,785 502,616
TOTAL CURRENT ASSETS 1,502,711 621,890
Security deposit 1,606 1,684
Property and equipment, net 3,671 3,494
TOTAL ASSETS 1,507,988 627,068
CURRENT LIABILITIES:    
Accounts payable 107,134 236,466
Accrued expenses and other payables 43,505 386,311
Convertible notes and related accrued interest, net 1,949,519 1,794,375
Loans payable 2,189 27,558
Embedded conversion option liabilities 2,511,405 780,281
Warrant derivative liability 82,086 269,648
Due to directors - related parties 33,471 35,108
Loans from directors and officer - related parties 54,005 79,416
Employee benefit liability 80,538 71,421
TOTAL CURRENT LIABILITIES $ 4,863,852 $ 3,680,584
Commitments and Contingencies (See Note 7)
STOCKHOLDERS' DEFICIT:    
Common stock, $0.001 par value; 2,000,000,000 shares authorized; 432,719,886 and 347,442,013 shares issued and outstanding as of December 31, 2015 and June 30, 2015, respectively $ 432,720 $ 347,442
Additional paid-in capital 21,360,201 17,458,745
Accumulated other comprehensive income (loss) 212,847 100,968
Accumulated deficit (25,366,632) (20,965,671)
TOTAL STOCKHOLDERS' DEFICIT (3,355,864) (3,053,516)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 1,507,988 627,068
Series A Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value $ 0 $ 0