Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Balance Sheets

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Jun. 30, 2020
CURRENT ASSETS:    
Cash $ 2,255 $ 67,007
GST tax receivable 4,341 2,015
TOTAL CURRENT ASSETS 6,596 69,022
Security deposit - related party 2,250 2,067
Operating lease right-of-use assets, net - related party 21,682
Property and equipment, net 4,255 5,747
TOTAL ASSETS 13,101 98,518
CURRENT LIABILITIES:    
Accounts payable 1,002,335 842,156
Accrued expenses and other payables 892,151 702,231
Convertible notes and related accrued interest, net of discounts and premiums 624,583 1,557,734
Operating lease liability - related party 25,072
Embedded conversion option liabilities 54,220 177,009
Due to former director - related party 33,347 30,639
Loan from former director - related party 55,500 50,993
Employee benefit liability 418,538 354,109
TOTAL CURRENT LIABILITIES 3,080,674 3,739,943
TOTAL LIABILITIES 3,080,674 3,739,943
Commitments and Contingencies (See Note 9)  
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 1,000,000,000 shares authorized;14,055,393 and 258,120 shares issued and outstanding as of June 30, 2021 and 2020, respectively 14,056 258
Common stock issuable (59 and 0 shares as of June 30, 2021 and 2020, respectively)
Additional paid-in capital 54,074,110 50,913,893
Accumulated other comprehensive income 1,085,204 1,267,671
Accumulated deficit (58,199,466) (55,781,770)
Treasury stock (1 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (3,067,573) (3,641,425)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 13,101 98,518
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
TOTAL STOCKHOLDERS’ DEFICIT