Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,862,882) $ (4,400,961)
Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 437,235 1,122,322
Issuance of convertible promissory notes for services 250,000 0
Warrant modification expense 23,495 0
Loss (gain) on settlement 131,900 58,893
Foreign currency transaction loss 251,334 (20,509)
Depreciation expense 1,091 340
Amortization of debt discount 1,371,171 1,224,235
Change in fair value of derivative liabilities (330,393) 551,890
Stock option expense 989,285 0
Accretion of put premium 319,103 755,927
Changes in Assets and Liabilities:    
GST receivable 19,047 4,296
Prepaid expenses and other assets 0 (343,259)
Prepaid expenses and other assets - related parties 2,262 0
Accounts payable 85,790 (118,305)
Accounts payable - related parties 80,089 0
Employee benefit liability 11,765 12,447
Payment for security deposit 1,659 0
Accrued expenses 199,295 (324,789)
Accrued interest 14,126 (10,005)
Other 0 (744)
NET CASH USED IN OPERATING ACTIVITIES (1,004,628) (1,488,222)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment 0 (676)
NET CASH USED IN INVESTING ACTIVITIES 0 (676)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Loan repayments to principal stockholder 0 (21,500)
Loan repayments 0 (23,852)
Proceeds from convertible promissory notes 495,000 2,977,500
Repayments of convertible promissory notes 0 (463,976)
Proceeds from the exercise of warrants 464,285 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 959,285 2,468,172
Effect of exchange rate changes on cash (32,809) 81,217
NET INCREASE (DECREASE) IN CASH (78,152) 1,060,491
CASH AT BEGINNING OF PERIOD 121,070 107,627
CASH AT END OF PERIOD 42,918 1,168,118
Cash paid during the period:    
Interest 0 0
Income Tax 0 0
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Prepaid common stock issued for services 0 187,532
Cancellation of shares for convertible note payable 112,500 0
Reduction of put premium related to conversions of convertible note 89,591 636,348
Conversion of convertible notes and accrued interest to common stock 577,984 1,762,430
Discounts related to warrants issued with convertible debenture 910,178 1,619,075
Discounts related to derivative liability $ 400,000 $ 1,005,925