Investors

Financials

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Jun. 30, 2022
CURRENT ASSETS:    
Cash $ 19,396 $ 4,067
GST tax receivable 2,701 2,342
Prepaid expenses and other current assets 15,765 8,621
TOTAL CURRENT ASSETS 37,862 15,030
Security deposit - related party 1,930 2,075
Operating lease right-of-use assets, net - related party 53,025 62,523
Property and equipment, net 1,437 2,023
TOTAL ASSETS 94,254 81,651
CURRENT LIABILITIES:    
Accounts payable 899,225 943,023
Accrued expenses and other payables 448,719 466,115
Convertible notes and related accrued interest, net of discounts and premiums 913,641 984,260
Operating lease liability - related party, current portion 14,516 20,605
Embedded conversion option liabilities 72,958 151,262
Due to former director - related party 28,599 30,746
Loan from former director - related party 47,597 51,171
Employee benefit liability 397,171 415,799
TOTAL CURRENT LIABILITIES 2,822,426 3,062,981
NON-CURRENT LIABILITIES:    
Operating lease liability - long-term portion - related party 39,363 42,319
TOTAL NON-CURRENT LIABILITIES 39,363 42,319
TOTAL LIABILITIES 2,861,789 3,105,300
Commitments and Contingencies (See Note 8)  
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 10,000,000,000 shares authorized; 677,177,717 and 220,350,921 shares issued and outstanding as of September 30, 2022 and June 30, 2022, respectively 677,178 220,351
Common stock issuable (1,309 and 19,597,024 shares as of September 30, 2022 and June 30, 2022, respectively) 1 19,597
Additional paid-in capital 57,800,241 57,124,982
Subscription receivable (23,758)
Accumulated other comprehensive income 1,360,945 1,234,549
Accumulated deficit (62,564,423) (61,557,893)
Treasury stock (1 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (2,767,535) (3,023,649)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 94,254 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

v3.22.2.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2022
Sep. 30, 2021
REVENUE    
Revenue
OPERATING EXPENSES    
Administration expenses 465,132 431,740
Occupancy expenses - related party 6,373 7,736
Research and development 101,325 46,554
TOTAL OPERATING EXPENSES 572,830 486,030
LOSS FROM OPERATIONS (572,830) (486,030)
OTHER INCOME (EXPENSE)    
Interest expense (162,752) (109,853)
Interest income 2
Change in fair value of derivative liabilities 65,173 (3,904)
Gain from settlement of accounts payable 17,499
Loss on extinguishment of debt, net (610)
Foreign currency transaction gain 36,223 109,129
TOTAL OTHER EXPENSE, NET (44,465) (4,628)
LOSS BEFORE TAXES (617,295) (490,658)
Tax benefit
NET LOSS (617,295) (490,658)
Deemed Dividend (389,235) (114,844)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (1,006,530) $ (605,502)
BASIC AND DILUTED NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS $ (0.00) $ (0.02)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 473,589,083 27,142,519
OTHER COMPREHENSIVE INCOME    
Unrealized foreign currency translation gain $ 126,396 $ 64,193
TOTAL OTHER COMPREHENSIVE INCOME 126,396 64,193
TOTAL COMPREHENSIVE LOSS $ (880,134) $ (541,309)

Source

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (617,295) $ (490,658)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 133,422
Foreign currency transaction gain (36,223) (109,129)
Depreciation expense 473 509
Amortization of debt discounts 31,275 6,074
Amortization of right-of-use assets 5,131
Change in fair value of derivative liabilities (65,173) 3,904
Loss on extinguishment of debt, net 610
Gain from settlement of accounts payable (17,499)
Stock option, stock warrants and restricted stock expense 2,408 20,718
Non-cash interest expense 2,250
Accretion of put premium 115,769 90,192
Changes in Assets and Liabilities:    
GST receivable (523) 1,937
Prepaid expenses and other assets (7,747) (8,353)
Accounts payable 45,121 (137,927)
Employee benefit liability 10,415 4,067
Accrued expenses and other payables 15,162 (15,102)
Accrued interest 13,430 11,338
Operating lease liability (4,649)
NET CASH USED IN OPERATING ACTIVITIES (509,315) (486,758)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes, net of original issue discounts and issue costs 345,750 160,000
Proceeds from the sale of common stock 24,711
Collection of subscription receivable 23,758
Proceeds from the exercise of warrants 100,000 275,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 494,219 435,000
Effect of exchange rate changes on cash 30,425 95,320
NET INCREASE IN CASH 15,329 43,562
CASH AT BEGINNING OF PERIOD 4,067 2,255
CASH AT END OF PERIOD 19,396 45,817
Supplemental Disclosure of Cash Flow Information    
Interest 2,277
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Subscription receivable 100,000
Reduction of put premium related to conversions of convertible notes 133,646 109,643
Conversion of convertible notes and accrued interest to common stock 349,530 197,936
Discounts related to derivative liability 93,668
Stock warrant grant for settlement of accounts payable 23,050
Common stock issued for accrued services 448,440
Warrants issued for accrued services 5,551
Deemed dividend upon alternate cashless exercise of warrants $ 389,235 $ 114,844

Source

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