General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS
 9 Months Ended 12 Months Ended
Mar. 31, 2016
USD ($)
Mar. 31, 2015
USD ($)
Jun. 30, 2015
USD ($)
Jun. 30, 2014
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (6,552,870) $ (1,586,167) $ (3,412,754) $ (829,564)
Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities:        
Issuance and amortization of common stock for services 1,359,874 199,727 276,792 237,833
Issuance of preferred stock for services 0 1,067 1,067 0
Fair value of warrants issued for services     51,488 0
(Gain) loss on settlement 58,893 (366,341) (375,547) 0
Settlement fees paid in the form of debt 0 150,000 150,000 0
Amortization of prepaid shares issued for services     0 6,667
Foreign currency transaction loss (gain) (47,366) 77,661 31,548 0
Depreciation expense 507 18 81 538
Amortization of debt discount 2,235,257 167,535 295,795 49,029
Change in fair value of derivative liabilities 494,772 (79,940) 541,981 16,522
Accretion of put premium 914,412 598,103 1,044,196 27,187
Changes in Assets and Liabilities:        
GST receivable (9,961) (5,560) (10,879) 0
Prepaid expenses and other assets (246,311) 20,644 (74,303) 294
Accounts payable (77,543) 5,322 (47,977) 94,607
Employee benefit liability 19,060 17,531 20,362 11,598
Accrued expenses (326,341) 87,818 115,941 158,847
Accrued interest (27,527) 15,041 (34,270) 0
NET CASH USED IN OPERATING ACTIVITIES (2,205,144) (697,541) (1,426,479) (226,442)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Payment for security deposit     (1,684) 0
Purchase of equipment (676) (918) (3,901) 0
NET CASH USED IN INVESTING ACTIVITIES (676) (918) (5,585) 0
CASH FLOWS FROM FINANCING ACTIVITIES:        
Bank overdraft     0 (6)
Loan repayments to directors and officer (21,491) (20,000) (28,455) (45,512)
Loan repayments (23,843) 0    
Proceeds from convertible promissory notes 4,177,500 675,500 1,438,500 273,959
Repayments of convertible promissory notes (463,976) 0 (157,000) 0
Proceeds from issuance of common stock for cash 0 29,000 29,000 0
Loan proceeds     0 10,542
Loan proceeds from principal stockholder     0 72,158
NET CASH PROVIDED BY FINANCING ACTIVITIES 3,668,190 684,500 1,282,045 311,141
Effect of exchange rate changes on cash (90,971) 94,508 169,847 3,100
NET INCREASE (DECREASE) IN CASH 1,371,399 80,549 19,828 87,799
CASH AT BEGINNING OF PERIOD 107,627 87,799 87,799 0
CASH AT END OF PERIOD 1,479,026 168,348 107,627 87,799
Cash paid during the period:        
Interest 0 0 0 0
Income Tax 0 0 0 0
Supplemental Disclosure of Non-Cash Investing and Financing Activities        
Common stock issued for settlement of debt 0 152,285 152,285 0
Prepaid common stock issued for services 72,757 134,373 269,682 6,667
Prepaid warrants issued for services     138,314 0
Reduction of put premium related to conversions of convertible note 1,034,454 37,032 71,370 0
Conversion of accrued expenses to common stock     0 27,500
Conversion of convertible notes and accrued interest to common stock 3,817,285 206,940 374,771 0
Discounts related to warrants issued with convertible debenture 1,666,635 0 0 133,095
Discounts related to lender costs 0 48,500 48,500 30,000
Discounts related to derivative liability 2,205,925 0 305,000 0
Conversion of loan payable to convertible debenture     0 27,963
Conversion of loan payable to common stock $ 0 $ 66,389 66,389 0
Prepaid settlement fee paid through issuance of convertible note     $ 0 $ 25,000