Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Jun. 30, 2015
CURRENT ASSETS:    
Cash $ 1,479,026 $ 107,627
GST tax receivable 21,628 11,647
Prepaid expenses and other current assets 117,096 502,616
TOTAL CURRENT ASSETS 1,617,750 621,890
Security deposit 1,687 1,684
Property and equipment, net 3,678 3,494
TOTAL ASSETS 1,623,115 627,068
CURRENT LIABILITIES:    
Accounts payable 159,323 236,466
Accrued expenses and other payables 60,627 386,311
Convertible notes and related accrued interest, net 999,089 1,794,375
Loans payable 2,300 27,558
Embedded conversion option liabilities 3,659,506 780,281
Warrant derivative liability 80,630 269,648
Due to directors - related parties 35,168 35,108
Loans from directors and officer - related parties 56,743 79,416
Employee benefit liability 90,602 71,421
TOTAL CURRENT LIABILITIES $ 5,143,988 $ 3,680,584
Commitments and Contingencies (See Note 7)
STOCKHOLDERS' DEFICIT:    
Common stock, $0.001 par value; 2,000,000,000 shares authorized; 602,454,054 and 347,442,013 shares issued and outstanding as of March 31, 2016 and June 30, 2015, respectively $ 602,455 $ 347,442
Additional paid-in capital 23,415,658 17,458,745
Accumulated other comprehensive income (loss) (25,445) 100,968
Accumulated deficit (27,518,541) (20,965,671)
TOTAL STOCKHOLDERS' DEFICIT (3,520,873) (3,053,516)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 1,623,115 627,068
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