Investors

Financials

v3.24.3
Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Jun. 30, 2023
CURRENT ASSETS:    
Cash $ 21,085 $ 10,047
GST tax receivable 2,950 2,867
Prepaid expenses and other current assets 1,406 6,125
TOTAL CURRENT ASSETS 25,441 19,039
Deferred offering costs 27,117
Security deposit - related party 2,008 1,999
Property and equipment, net 302
TOTAL ASSETS 72,365 60,328
CURRENT LIABILITIES:    
Accounts payable 1,213,335 966,718
Accrued expenses and other payables 792,190 579,707
Accrued interest 94,612 44,709
Note payable, net of discount 204,694
Convertible notes, net of discounts and including put premiums 399,325 390,539
Embedded conversion option liabilities 133,886 423,209
Employee benefit liability 639,371 587,618
TOTAL CURRENT LIABILITIES 3,792,782 3,158,229
NON-CURRENT LIABILITIES:    
TOTAL NON-CURRENT LIABILITIES 58,642 19,278
TOTAL LIABILITIES 3,851,424 3,177,507
Commitments and Contingencies (See Note 9)
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 10,000,000,000 shares authorized; 478,802,488 and 6,031,250 shares issued and outstanding as of June 30, 2024 and 2023, respectively 478,802 6,031
Common stock issuable (0 and 1,621,653 shares as of June 30, 2024 and 2023, respectively) 1,621
Additional paid-in capital 61,217,255 60,311,502
Accumulated other comprehensive income 1,269,581 1,294,876
Accumulated deficit (66,698,220) (64,684,732)
Treasury stock ($0.001 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (3,779,059) (3,117,179)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 72,365 60,328
Series B Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock, value
Related Party [Member]    
CURRENT ASSETS:    
Operating lease right-of-use assets, net - related party 17,799 38,988
CURRENT LIABILITIES:    
Loan from former director - related party 71,629
Operating lease liability - related party, current portion 19,362 21,505
NON-CURRENT LIABILITIES:    
Loan payable - long-term - related party, net of discount 58,642
Operating lease liability - long-term portion - related party 19,278
Nonrelated Party [Member]    
CURRENT LIABILITIES:    
Loan from former director - related party 145,091 65,280
Former Director [Member]    
CURRENT LIABILITIES:    
Loan from former director - related party 49,528 49,314
Due to former director - related party $ 29,759 $ 29,630

Source

v3.24.3
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
REVENUE    
Revenue
OPERATING EXPENSES    
Administration expenses 1,253,797 1,499,885
Occupancy expenses - related party 34,150 28,841
Research and development 248,102 247,919
TOTAL OPERATING EXPENSES 1,536,049 1,776,645
LOSS FROM OPERATIONS (1,536,049) (1,776,645)
OTHER INCOME (EXPENSE)    
Interest expense (665,841) (532,821)
Interest income 60 36
Derivative expense (141,012)
Change in fair value of derivative liabilities 316,537 (530,330)
Gain from settlement of accounts payable 17,499
Gain on extinguishment of debt, net 54,565 25,969
Foreign currency transaction gain 22,080 5,885
TOTAL OTHER EXPENSE, NET (413,611) (1,013,762)
LOSS BEFORE TAXES (1,949,660) (2,790,407)
Tax benefit 129,132 129,841
NET LOSS (1,820,528) (2,660,566)
Deemed Dividend (192,960) (466,273)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (2,013,488) $ (3,126,839)
BASIC NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS $ (0.02) $ (1.80)
DILUTED NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS $ (0.02) $ (1.80)
BASIC WEIGHTED AVERAGE SHARES OUTSTANDING 85,045,339 1,738,802
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 85,045,339 1,738,802
OTHER COMPREHENSIVE INCOME (LOSS)    
Unrealized foreign currency translation gain (loss) $ (25,295) $ 60,327
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) (25,295) 60,327
TOTAL COMPREHENSIVE LOSS $ (2,038,783) $ (3,066,512)

Source

v3.24.3
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,820,528) $ (2,660,566)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 138,948
Stock option, stock warrants and restricted stock expense 2,408
Foreign currency transaction gain (22,080) (5,885)
Depreciation expense 297 1,665
Allowance on refundable advance deposit 120,958
Amortization of debt discounts 294,005 202,952
Amortization of right-of-use assets 21,359 21,266
Change in fair value of derivative liabilities (316,537) 530,330
Derivative expense 141,012
Gain on extinguishment of debt, net (54,565) (25,969)
Gain from settlement of accounts payable (17,499)
Non-cash interest expense 3,832 1,838
Accretion of put premium 279,711 232,674
Changes in Assets and Liabilities:    
GST receivable (71) (610)
Prepaid expenses and other assets 4,746 2,182
Refundable advance deposit (120,958)
Deferred offering costs (25,000)
Accounts payable 242,408 80,975
Employee benefit liability 49,196 186,912
Accrued expenses and other payables 209,962 130,511
Accrued interest 78,733 92,474
Operating lease liability (21,598) (19,857)
NET CASH USED IN OPERATING ACTIVITIES (935,118) (1,105,251)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes, net of original issue discounts and issue costs 567,050 590,250
Repayment of convertible note (142,909)
Proceeds from the sale of common stock 23,057 24,711
Proceeds from note payable 190,000
Proceeds from loans payable 79,811
Proceeds from loans payable - related party 224,885
Collection of subscription receivable 23,758
Proceeds from the exercise of warrants 475,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 941,894 1,113,719
Effect of exchange rate changes on cash 4,262 (2,488)
NET INCREASE IN CASH 11,038 5,980
CASH AT BEGINNING OF YEAR 10,047 4,067
CASH AT END OF YEAR 21,085 10,047
Supplemental Disclosure of Cash Flow Information    
Interest 9,491 2,883
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Reduction of put premium related to conversions of convertible notes 246,254 411,111
Conversion of convertible notes and accrued interest to common stock 560,483 1,016,285
Debt discounts related to derivative liability 150,000 93,668
Relative fair value of warrant granted in connection with a loan payable - related party 141,084
Warrant grant for settlement of accounts payable 37,500
Warrants issued for accrued services 5,551
Deemed dividend upon alternate cashless exercise of warrants $ 192,960 $ 466,273

Source

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