Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2016
Jun. 30, 2015
CURRENT ASSETS:    
Cash $ 121,070 $ 107,627
GST tax receivable 29,355 11,647
Prepaid expenses and other current assets 210,122 502,616
Prepaid rent - related party 2,220 0
TOTAL CURRENT ASSETS 362,767 621,890
Security deposit 1,628 1,684
Security deposit - related party 2,220 0
Property and equipment, net 12,527 3,494
TOTAL ASSETS 379,142 627,068
CURRENT LIABILITIES:    
Accounts payable 370,093 236,466
Accrued expenses and other payables 137,487 386,311
Convertible notes and related accrued interest, net of discount and premiums 1,202,523 1,794,375
Loans payable 2,220 27,558
Embedded conversion option liabilities 994,343 780,281
Warrant derivative liability 55,839 269,648
Due to directors - related parties 33,943 35,108
Loans from directors and officer - related parties 54,767 79,416
Employee benefit liability 93,220 71,421
TOTAL CURRENT LIABILITIES 2,944,435 3,680,584
Commitments and Contingencies (See Note 9)
STOCKHOLDERS' DEFICIT:    
Common stock, $0.001 par value; 2,000,000,000 shares authorized; 728,616,312 and 347,442,013 shares issued and outstanding as of June 30, 2016 and June 30, 2015, respectively 728,617 347,442
Additional paid-in capital 26,945,849 17,458,745
Accumulated other comprehensive income 131,264 100,968
Accumulated deficit (30,376,023) (20,965,671)
TOTAL STOCKHOLDERS' DEFICIT (2,565,293) (3,053,516)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 379,142 627,068
Series A Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value 5,000 5,000
TOTAL STOCKHOLDERS' DEFICIT 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value 0 0
TOTAL STOCKHOLDERS' DEFICIT $ 0 $ 0