Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
REVENUE    
Revenue $ 0 $ 0
OPERATING EXPENSES    
Administration expenses 5,426,056 1,567,549
Occupancy expenses 24,550 3,719
Research and development 1,446,948 134,319
TOTAL OPERATING EXPENSES 6,897,554 1,705,587
LOSS FROM OPERATIONS (6,897,554) (1,705,587)
OTHER INCOME (EXPENSE)    
Interest expense (4,485,596) (1,323,902)
Interest income 2,027 33
Other expense 0 (50,002)
Change in fair value of derivative liabilities 2,743,676 (541,981)
Gain (loss) on debt settlements, net (670,893) 375,547
Foreign currency transaction loss (174,550) (244,332)
TOTAL OTHER INCOME (EXPENSE) (2,585,336) (1,784,637)
LOSS BEFORE INCOME TAXES (9,482,890) (3,490,224)
INCOME TAX BENEFIT 72,538 77,470
NET LOSS (9,410,352) (3,412,754)
OTHER COMPREHENSIVE INCOME    
Foreign currency translation gain 30,296 403,831
TOTAL OTHER COMPREHENSIVE INCOME 30,296 403,831
TOTAL COMPREHENSIVE LOSS $ (9,380,056) $ (3,008,923)
BASIC AND DILUTED NET LOSS PER SHARE $ (0.02) $ (0.02)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 487,050,997 177,633,496