Investors

Financials

v3.22.4
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Jun. 30, 2022
CURRENT ASSETS:    
Cash $ 24,476 $ 4,067
GST tax receivable 4,543 2,342
Prepaid expenses and other current assets 25,207 8,621
TOTAL CURRENT ASSETS 54,226 15,030
Security deposit - related party 2,042 2,075
Operating lease right-of-use assets, net - related party 50,671 62,523
Property and equipment, net 1,083 2,023
TOTAL ASSETS 108,022 81,651
CURRENT LIABILITIES:    
Accounts payable 914,491 943,023
Accrued expenses and other payables 556,114 466,115
Accrued interest 59,733 57,822
Loan payable 65,280
Note payable, net of debt discount 72,404
Convertible notes, net of discounts and including premiums 633,740 926,438
Operating lease liability - related party, current portion 21,102 20,605
Embedded conversion option liabilities 10,623 151,262
Due to former director - related party 30,257 30,746
Loan from former director - related party 50,357 51,171
Employee benefit liability 578,453 415,799
TOTAL CURRENT LIABILITIES 2,992,554 3,062,981
NON-CURRENT LIABILITIES:    
Operating lease liability - long-term portion - related party 30,885 42,319
TOTAL NON-CURRENT LIABILITIES 30,885 42,319
TOTAL LIABILITIES 3,023,439 3,105,300
Commitments and Contingencies (See Note 8)
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 10,000,000,000 shares authorized; 1,245,699,501 and 220,350,921 shares issued and outstanding as of December 31, 2022 and June 30, 2022, respectively 1,245,700 220,351
Common stock issuable (59 and 19,597,024 shares as of December 31, 2022 and June 30, 2022, respectively) 19,597
Additional paid-in capital 57,696,390 57,124,982
Subscription receivable (23,758)
Accumulated other comprehensive income 1,253,133 1,234,549
Accumulated deficit (63,069,163) (61,557,893)
Treasury stock (1 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (2,915,417) (3,023,649)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 108,022 81,651
Series A Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock value 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock value

Source

v3.22.4
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
REVENUE        
Revenue
OPERATING EXPENSES        
Administration expenses 525,620 346,164 990,752 777,904
Occupancy expenses - related party 7,506 6,550 13,879 14,286
Research and development 74,878 50,753 176,203 97,307
TOTAL OPERATING EXPENSES 608,004 403,467 1,180,834 889,497
LOSS FROM OPERATIONS (608,004) (403,467) (1,180,834) (889,497)
OTHER INCOME (EXPENSE)        
Interest expense (98,619) (177,905) (261,371) (287,758)
Interest income 17 19
Change in fair value of derivative liabilities 62,335 (163,853) 127,508 (167,757)
Gain from settlement of accounts payable 17,499
Gain on extinguishment of debt, net 43,520 42,910
Foreign currency transaction gain (loss) (13,988) (110,215) 22,235 (1,086)
TOTAL OTHER EXPENSE, NET (6,735) (451,973) (51,200) (456,601)
LOSS BEFORE TAXES (614,739) (855,440) (1,232,034) (1,346,098)
Tax benefit 129,321 55,463 129,321 55,463
NET LOSS (485,418) (799,977) (1,102,713) (1,290,635)
Deemed Dividend (19,322) (93,398) (408,557) (208,242)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (504,740) $ (893,375) $ (1,511,270) $ (1,498,877)
BASIC AND DILUTED NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS $ (0.00) $ (0.02) $ (0.00) $ (0.04)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 960,470,651 49,373,565 718,360,144 38,318,783
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized foreign currency translation gain (loss) $ (107,812) $ (7,697) $ 18,584 $ 56,496
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) (107,812) (7,697) 18,584 56,496
TOTAL COMPREHENSIVE LOSS $ (612,552) $ (901,072) $ (1,492,686) $ (1,442,381)

Source

v3.22.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,102,713) $ (1,290,635)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 56,811 133,422
Foreign currency transaction gain (22,235) 1,086
Depreciation expense 895 1,013
Amortization of debt discounts 83,903 11,295
Amortization of right-of-use assets 10,858
Change in fair value of derivative liabilities (127,508) 167,757
Gain on extinguishment of debt, net (42,910)
Gain from settlement of accounts payable (17,499)
Stock option, stock warrants and restricted stock expense 2,408 41,436
Non-cash interest expense 2,250
Accretion of put premium 144,711 245,000
Changes in Assets and Liabilities:    
GST receivable (2,238) (1,417)
Prepaid expenses and other assets (16,724) (5,637)
Accounts payable 9,520 (51,037)
Employee benefit liability 169,268 12,882
Accrued expenses and other payables 97,414 (6,772)
Accrued interest 31,433 28,264
Operating lease liability (9,936)
NET CASH USED IN OPERATING ACTIVITIES (734,542) (711,093)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes, net of original issue discounts and issue costs 395,750 414,500
Proceeds from note payable, net of original issue discounts and issue costs 100,000
Proceeds from the sale of common stock 24,711
Collection of subscription receivable 23,758
Proceeds from the exercise of warrants 200,000 375,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 744,219 789,500
Effect of exchange rate changes on cash 10,732 (7,046)
NET INCREASE IN CASH 20,409 71,361
CASH AT BEGINNING OF PERIOD 4,067 2,255
CASH AT END OF PERIOD 24,476 73,616
Supplemental Disclosure of Cash Flow Information    
Interest 1,323 950
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Common stock issued for offering cost applied against proceeds received 20,000
Reduction of put premium related to conversions of convertible notes 218,992 126,310
Conversion of convertible notes and accrued interest to common stock 515,221 224,662
Debt discounts related to derivative liability 93,668
Debt discounts related to common stock issued with a note payable 37,500
Warrant grant for settlement of accounts payable 5,551
Common stock issued for accrued services 448,440
Deemed dividend upon alternate cashless exercise of warrants $ 408,557 $ 208,242

Source

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