Investors

Financials

v3.25.0.1
Condensed Consolidated Balance Sheets
Dec. 31, 2024
USD ($)
Jun. 30, 2024
USD ($)
CURRENT ASSETS:    
Cash $ 14,633 $ 21,085
GST tax receivable 1,973 2,950
Prepaid expenses and other current assets 1,378 1,406
TOTAL CURRENT ASSETS 17,984 25,441
Deferred offering costs 52,117 27,117
Security deposit - related party 1,855 2,008
TOTAL ASSETS 78,533 72,365
CURRENT LIABILITIES:    
Accounts payable 1,223,254 1,213,335
Accrued expenses and other payables 899,262 792,190
Accrued interest 135,351 94,612
Notes payable, net of discount 168,217 204,694
Convertible notes, net of discounts and including put premiums 409,799 399,325
Embedded conversion option liabilities 131,585 133,886
Employee benefit liability 611,318 639,371
TOTAL CURRENT LIABILITIES 4,154,964 3,792,782
NON-CURRENT LIABILITIES:    
TOTAL NON-CURRENT LIABILITIES 82,328 58,642
TOTAL LIABILITIES 4,237,292 3,851,424
Commitments and Contingencies (See Note 8)
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 10,000,000,000 shares authorized; 14,508 and 7,980 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively 14 8
Additional paid-in capital 61,878,549 61,696,049
Accumulated other comprehensive income 1,491,868 1,269,581
Accumulated deficit (67,482,713) (66,698,220)
Treasury stock ($0.001 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (4,158,759) (3,779,059)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 78,533 72,365
Series B Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock, value
Related Party [Member]    
CURRENT ASSETS:    
Operating lease right-of-use assets, net - related party 6,577 17,799
CURRENT LIABILITIES:    
Loan payable 350,544 71,629
Operating lease liability - related party, current portion 7,298 19,362
NON-CURRENT LIABILITIES:    
Loan payable - long-term - related party, net of discount 82,328 58,642
Nonrelated Party [Member]    
CURRENT LIABILITIES:    
Loan payable 145,091 145,091
Former Director [Member]    
CURRENT LIABILITIES:    
Loan payable 45,754 49,528
Due to former director - related party $ 27,491 $ 29,759

Source

v3.25.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
REVENUE        
Revenue
OPERATING EXPENSES        
Administration expenses 153,593 318,185 374,352 712,013
Occupancy expenses - related party 5,401 5,857 13,718 13,006
Research and development 54,388 114,022 116,102 130,264
TOTAL OPERATING EXPENSES 213,382 438,064 504,172 855,283
LOSS FROM OPERATIONS (213,382) (438,064) (504,172) (855,283)
OTHER INCOME (EXPENSE)        
Interest expense (118,943) (264,462) (205,173) (442,696)
Interest income 16 1 33
Derivative expense (8,559) (45,658) (35,741) (123,379)
Change in fair value of derivative liabilities 13,581 (1,771) 66,368 302,158
Gain (loss) on extinguishment of debt, net (18,759) (211) (30,078) 34,099
Foreign currency transaction gain (loss) (84,121) 37,146 (75,698) 21,198
TOTAL OTHER INCOME (EXPENSE), NET (216,801) (274,940) (280,321) (208,587)
LOSS BEFORE TAXES (430,183) (713,004) (784,493) (1,063,870)
Tax benefit 128,620 128,620
NET LOSS (430,183) (584,384) (784,493) (935,250)
Deemed Dividend (34,585) (177,160)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (430,183) $ (618,969) $ (784,493) $ (1,112,410)
BASIC NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS $ (32.23) $ (1,559.55) $ (67.64) $ (3,835.55)
DILUTED NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS $ (32.23) $ (1,559.55) $ (67.64) $ (3,835.55)
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING 13,347 397 11,597 290
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 13,347 397 11,597 290
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized foreign currency translation gain (loss) $ 321,230 $ (134,480) $ 222,287 $ (60,806)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 321,230 (134,480) 222,287 (60,806)
TOTAL COMPREHENSIVE LOSS $ (108,953) $ (753,449) $ (562,206) $ (1,173,216)

Source

v3.25.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2024
Sep. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:              
Net loss $ (430,183) $ (354,310) $ (584,384) $ (350,866) $ (784,493) $ (935,250)  
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:              
Issuance of common stock for services         15,000  
Foreign currency transaction loss (gain)         75,698 (21,198)  
Depreciation expense         248  
Amortization of debt discounts         133,644 164,904  
Amortization of right-of-use assets         9,866 10,871  
Change in fair value of derivative liabilities (13,581)   1,771   (66,368) (302,158)  
Derivative expense 8,559   45,658   35,741 123,379  
Loss (gain) on extinguishment of debt, net 18,759   211   30,078 (34,099)  
Non-cash interest expense         4,582 1,597  
Accretion of put premium         234,615  
Changes in Assets and Liabilities:              
GST receivable         752 (977)  
Prepaid expenses and other assets         (80) (5,877)  
Refundable advance deposit         (123,127)  
Deferred offering costs         (25,000)  
Accounts payable         102,374 169,359  
Employee benefit liability         20,666 23,897  
Accrued expenses and other payables         166,993 96,924  
Accrued interest         49,350 35,323  
Operating lease liability         (10,589) (10,773)  
NET CASH USED IN OPERATING ACTIVITIES         (241,786) (572,342)  
CASH FLOWS FROM FINANCING ACTIVITIES:              
Proceeds from convertible promissory notes, net of original issue discounts and issue costs         80,000 477,500  
Repayment of convertible note         (142,909)  
Repayment of notes         (98,400)  
Proceeds from note payable         35,000 120,000  
Proceeds from loans payable - related parties         278,915 169,685  
NET CASH PROVIDED BY FINANCING ACTIVITIES         295,515 624,276  
Effect of exchange rate changes on cash         (60,181) 9,669  
NET (DECREASE) INCREASE IN CASH         (6,452) 61,603  
CASH AT BEGINNING OF PERIOD   $ 21,085   $ 10,047 21,085 10,047 $ 10,047
CASH AT END OF PERIOD $ 14,633   $ 71,650   14,633 71,650 $ 21,085
Supplemental Disclosure of Cash Flow Information              
Interest         17,599 6,189  
Income Tax          
Supplemental Disclosure of Non-Cash Investing and Financing Activities              
Subscription receivable         8,822  
Reduction of put premium related to conversions of convertible notes         9,336 87,305  
Conversion of convertible notes and accrued interest to common stock         71,836 203,365  
Debt discounts related to derivative liability         80,000 125,000  
Relative fair value of warrant granted in connection with a loan payable - related party         141,084  
Deemed dividend upon alternate cashless exercise of warrants         $ 177,160  

Source

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