Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Jun. 30, 2016
CURRENT ASSETS:    
Cash $ 9,058 $ 121,070
GST tax receivable 10,125 29,355
Prepaid expenses and other current assets 12,029 210,122
Prepaid rent - related party 2,220
TOTAL CURRENT ASSETS 31,212 362,767
Security deposit 1,628
Security deposit - related party 2,291 2,220
Property and equipment, net 11,283 12,527
TOTAL ASSETS 44,786 379,142
CURRENT LIABILITIES:    
Accounts payable 452,144 250,403
Accounts payable - related parties 15,617 119,690
Accrued expenses and other payables 334,860 137,487
Convertible notes and related accrued interest, net of discount and premiums 2,651,423 1,202,523
Loans payable 2,291 2,220
Embedded conversion option liabilities 1,081,387 994,343
Warrant derivative liability 16,200 55,839
Due to directors - related parties 35,030 33,943
Loans from directors and officer - related parties 56,521 54,767
Employee benefit liability 114,079 93,220
TOTAL CURRENT LIABILITIES 4,759,552 2,944,435
Commitments and Contingencies (See Note 7)
STOCKHOLDERS' DEFICIT:    
Common stock, $0.001 par value; 100,000,000 shares authorized; 3,744,095 and 2,914,465 shares issued and outstanding as of March 31, 2017 and June 30, 2016, respectively 3,744 2,914
Additional paid-in capital 31,972,357 27,671,552
Accumulated other comprehensive income (loss) (85,836) 131,264
Accumulated deficit (36,610,031) (30,376,023)
TOTAL STOCKHOLDERS' DEFICIT (4,714,766) (2,565,293)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 44,786 379,142
Series A Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value