Annual report pursuant to Section 13 and 15(d)

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative)

v3.22.2.2
RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative)
1 Months Ended 12 Months Ended
Aug. 02, 2022
USD ($)
Aug. 02, 2022
AUD ($)
Aug. 02, 2022
USD ($)
Aug. 02, 2022
AUD ($)
May 04, 2022
USD ($)
May 04, 2022
AUD ($)
Aug. 12, 2021
USD ($)
shares
Jul. 13, 2020
AUD ($)
May 14, 2019
USD ($)
$ / shares
shares
May 14, 2019
AUD ($)
shares
Mar. 16, 2018
USD ($)
Mar. 16, 2018
AUD ($)
Feb. 01, 2018
USD ($)
Feb. 01, 2018
AUD ($)
May 05, 2016
USD ($)
May 05, 2016
AUD ($)
Feb. 25, 2016
USD ($)
Feb. 25, 2016
AUD ($)
Feb. 25, 2015
AUD ($)
May 31, 2021
May 31, 2019
shares
Jun. 30, 2022
USD ($)
$ / shares
shares
Jun. 30, 2022
AUD ($)
shares
Jun. 30, 2021
USD ($)
$ / shares
shares
Jun. 30, 2021
AUD ($)
shares
Jun. 30, 2020
USD ($)
Jun. 30, 2020
AUD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2019
AUD ($)
Jun. 30, 2022
AUD ($)
Jun. 30, 2021
AUD ($)
May 05, 2016
AUD ($)
Related Party Transaction [Line Items]                                                                
Due to related parties | $                                           $ 30,746   $ 33,347                
Payments for Rent | $                                           28,366   $ 28,112                
Bonus payable                                           $ 99,691 $ 144,166                  
Exercise price | $ / shares                                                            
Granted exercise price | $ / shares                                                            
Accrued salaries                                           $ 37,341   $ 101,250           $ 54,000 $ 135,000  
Chief Executive Officer [Member]                                                                
Related Party Transaction [Line Items]                                                                
Payments form related party                                                 $ 221,890 $ 136,606 $ 202,620 $ 64,377 $ 90,000      
Bonus payable amount                                                       137,120 200,000      
Remaining bonus amount                                           125,386 181,324         $ 178,256 $ 260,000      
Bonus payable                                               166,418 $ 422,610 $ 280,726 $ 407,380          
Restricted stock shares of common stock                                         78                      
Three Year Operating Lease Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Payments for Rent                             $ 2,176 $ 3,000                                
Nathanielsz Employment Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Expired date                                     Feb. 25, 2019                          
Annual salary                                     $ 25,000     $ 205,680 $ 300,000                  
Percentage of pension of monthly salary                                           9.50% 9.50%                  
Nathanielsz Employment Agreement [Member] | Maximum [Member]                                                                
Related Party Transaction [Line Items]                                                                
Annual salary $ 414,900 $ 600,000                 $ 274,240 $ 400,000                                        
Percentage of bonus of annual base salary                                           200.00% 200.00%                  
Nathanielsz Employment Agreement [Member] | Minimum [Member]                                                                
Related Party Transaction [Line Items]                                                                
Annual salary $ 276,600 $ 400,000                 $ 205,680 $ 300,000                                        
Mrs. Nathanielsz [Member] | Chief Executive Officer [Member]                                                                
Related Party Transaction [Line Items]                                                                
Bonus payable | $                                               $ 316,957                
Employment Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Restricted stock unit shares upon vest                 39 39                                            
Employment Agreement [Member] | Initial Nathanielsz RSUs [Member]                                                                
Related Party Transaction [Line Items]                                                                
Restricted stock shares of common stock                 39 39                                            
Employment Agreement [Member] | Additional Nathanielsz RSUs [Member]                                                                
Related Party Transaction [Line Items]                                                                
Restricted stock unit issuable                                           39 39                  
Employment Agreement [Member] | Additional Nathanielsz RSUs [Member]                                                                
Related Party Transaction [Line Items]                                                                
Grand date fair value, per share | $ / shares                 $ 7.80                                              
Gross proceeds from equity financing | $                 $ 4,000,000                                              
Services Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Restricted stock unit issuable                                           20 20 20 20              
Services Agreement [Member] | Initial Kenyon RSUs [Member]                                                                
Related Party Transaction [Line Items]                                                                
Restricted stock shares of common stock                 20 20                                            
Services Agreement [Member] | Additional Kenyon RSUs [Member]                                                                
Related Party Transaction [Line Items]                                                                
Restricted stock shares of common stock                 20 20                                            
Gross proceeds from equity financing | $                 $ 4,000,000                                              
Restricted stock unit shares upon vest                 5 5                                            
Accounting Standards Update 2016-02 [Member]                                                                
Related Party Transaction [Line Items]                                                                
Operating lease, description                                       Such lease expired in May 2021 and was renewed for another one-year term from May 2021 to May 2022                        
North Horizon Pty Ltd [Member]                                                                
Related Party Transaction [Line Items]                                                                
Lessee, operating lease, term of contract                             5 years                                 5 years
Operating leases rent expense, minimum rentals                             $ 28,325 39,600                                
Goods and service tax                             2,575 $ 3,600                                
Payments for Rent                                           $ 84,452 $ 122,129 $ 64,597 $ 86,129              
North Horizon Pty Ltd [Member] | Three Year Operating Lease Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Lessee, operating lease, term of contract         3 years 3 years                                                    
Payments for Rent         $ 2,176 $ 3,000                                                    
Former Director [Member]                                                                
Related Party Transaction [Line Items]                                                                
Loans from related party | $                                           51,171   55,500                
Due to related parties | $                                           30,746   33,347                
Nathanielsz [Member] | North Horizon Pty Ltd [Member]                                                                
Related Party Transaction [Line Items]                                                                
Operating leases, future minimum payments due                             $ 141,629                                 $ 198,000
Mrs. Nathanielsz [Member]                                                                
Related Party Transaction [Line Items]                                                                
Annual salary                         $ 80,904 $ 120,000                                    
Payments form related party                                           $ 5,577 $ 7,689 $ 34,476 $ 46,135              
James Nathanielsz [Member]                                                                
Related Party Transaction [Line Items]                                                                
Payments form related party                                 $ 3,205 $ 4,481                            
Mr. Nathanielsz [Member] | Board of Directors [Member]                                                                
Related Party Transaction [Line Items]                                                                
Officers compensation             $ 177,840 $ 240,000 $ 315,376 $ 460,000                                            
Debt conversion, converted instrument, shares issued             5,928,000                                                  
Mr. Nathanielsz [Member] | Board of Directors [Member] | Subsequent Event [Member]                                                                
Related Party Transaction [Line Items]                                                                
Officers compensation     $ 96,810 $ 140,000                                                        
Mr. Nathanielsz [Member] | Board of Directors [Member] | AUD Currency [Member]                                                                
Related Party Transaction [Line Items]                                                                
Bonus granted percentage               60.00%                                                
Mr. Nathanielsz [Member] | Employment Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Annual salary | $                   $ 400,000                                            
Agreement term                 3 years 3 years                                            
Agreement renewal term                 1 year 1 year                                            
Option purchase shares                 39 39                                            
Exercise price | $ / shares                 $ 4,675                                              
Market price                 110.00% 110.00%                                            
Granted exercise price | $ / shares                 $ 4,250                                              
Options vested, description                 The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz’s continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz’s continued employment with the Company through the applicable vesting date: (i) 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the “CTA”) for PRP, the Company’s lead product candidate (“PRP”), for a First-In-Human study for PRP (the “Study”) in an applicable jurisdiction to be selected by the Company, (ii) 7.80 of the Additional Nathanielsz RSUs shall vest upon the CTA being approved in an applicable jurisdiction, (iii) 7.80 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iv) 7.80 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz’s continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz’s continued employment with the Company through the applicable vesting date: (i) 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the “CTA”) for PRP, the Company’s lead product candidate (“PRP”), for a First-In-Human study for PRP (the “Study”) in an applicable jurisdiction to be selected by the Company, (ii) 7.80 of the Additional Nathanielsz RSUs shall vest upon the CTA being approved in an applicable jurisdiction, (iii) 7.80 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iv) 7.80 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study.                                            
Option term                 10 years 10 years                                            
Dr. Kenyon [Member] | Services Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Agreement term                 3 years 3 years                                            
Agreement renewal term                 1 year 1 year                                            
Option purchase shares                 20 20                                            
Exercise price | $ / shares                 $ 4,250                                              
Market price                 100.00% 100.00%                                            
Options vested, description                 The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon’s continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon’s continued employment with the Company through the applicable vesting date: (i) 5 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 5 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 5 of the Additional Kenyon RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 5 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon’s continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon’s continued employment with the Company through the applicable vesting date: (i) 5 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 5 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 5 of the Additional Kenyon RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 5 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study.                                            
Option term                 10 years 10 years                                            
Dr. Kenyon [Member] | Cancellation Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Debt conversion, converted instrument, shares issued             3,420,000                                                  
Cancellation of accrued salary | $             $ 102,600                                                  
Dr Kenyon [Member] | Services Agreement [Member]                                                                
Related Party Transaction [Line Items]                                                                
Annual salary | $                   $ 54,000