Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.2.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Jun. 30, 2021
CURRENT ASSETS:    
Cash $ 4,067 $ 2,255
GST tax receivable 2,342 4,341
Prepaid expenses and other current assets 8,621
TOTAL CURRENT ASSETS 15,030 6,596
Security deposit - related party 2,075 2,250
Operating lease right-of-use assets, net - related party 62,523
Property and equipment, net 2,023 4,255
TOTAL ASSETS 81,651 13,101
CURRENT LIABILITIES:    
Accounts payable 943,023 1,002,335
Accrued expenses and other payables 466,115 892,151
Convertible notes and related accrued interest, net of discounts and premiums 984,260 624,583
Operating lease liability - related party, current portion 20,605
Embedded conversion option liabilities 151,262 54,220
Due to former director - related party 30,746 33,347
Loan from former director - related party 51,171 55,500
Employee benefit liability 415,799 418,538
TOTAL CURRENT LIABILITIES 3,062,981 3,080,674
NON-CURRENT LIABILITIES:    
Operating lease liability - long-term portion - related party 42,319
TOTAL NON-CURRENT LIABILITIES 42,319
TOTAL LIABILITIES 3,105,300 3,080,674
Commitments and Contingencies (See Note 9)
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 3,000,000,000 shares authorized; 220,350,921 and 14,055,393 shares issued and outstanding as of June 30, 2022 and 2021, respectively 220,351 14,056
Common stock issuable (19,597,024 and 59 shares as of June 30, 2022 and 2021, respectively) 19,597
Additional paid-in capital 57,124,982 54,074,110
Subscription receivable (23,758)
Accumulated other comprehensive income 1,234,549 1,085,204
Accumulated deficit (61,557,893) (58,199,466)
Treasury stock (1 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (3,023,649) (3,067,573)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 81,651 13,101
Series A Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock value 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock value