Investors

Financials

v3.23.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Jun. 30, 2022
CURRENT ASSETS:    
Cash $ 93,241 $ 4,067
GST tax receivable 3,334 2,342
Prepaid expenses and other current assets 8,621
TOTAL CURRENT ASSETS 96,575 15,030
Security deposit - related party 2,009 2,075
Operating lease right-of-use assets, net - related party 44,524 62,523
Property and equipment, net 634 2,023
TOTAL ASSETS 143,742 81,651
CURRENT LIABILITIES:    
Accounts payable 918,195 943,023
Accrued expenses and other payables 687,454 466,115
Accrued interest 56,661 57,822
Loan payable 65,280
Convertible notes, net of discounts and including put premiums 519,718 926,438
Operating lease liability - related party, current portion 21,185 20,605
Embedded conversion option liabilities 132,501 151,262
Due to former director - related party $ 29,777 $ 30,746
Other Liability, Current, Related and Nonrelated Party Status [Extensible Enumeration] Related Party [Member] Related Party [Member]
Loan from former director - related party $ 49,558 $ 51,171
Employee benefit liability 579,888 415,799
TOTAL CURRENT LIABILITIES 3,060,217 3,062,981
NON-CURRENT LIABILITIES:    
Operating lease liability - long-term portion - related party 24,939 42,319
TOTAL NON-CURRENT LIABILITIES 24,939 42,319
TOTAL LIABILITIES 3,085,156 3,105,300
Commitments and Contingencies (See Note 8)
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 10,000,000,000 shares authorized;  2,621,297,786 and 220,350,921 shares issued and outstanding as of  March 31, 2023 and June 30, 2022, respectively 2,621,298 220,351
Common stock issuable (4,434 and 19,597,024 shares as of March 31, 2023 and June 30, 2022, respectively) 4 19,597
Additional paid-in capital 57,068,986 57,124,982
Subscription receivable (23,758)
Accumulated other comprehensive income 1,293,747 1,234,549
Accumulated deficit (63,878,972) (61,557,893)
Treasury stock (1 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (2,941,414) (3,023,649)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 143,742 81,651
Series A Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock value 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock value

Source

v3.23.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
REVENUE        
Revenue
OPERATING EXPENSES        
Administration expenses 311,824 443,629 1,302,576 1,221,533
Occupancy expenses - related party 8,365 8,157 22,244 22,443
Research and development 66,020 50,395 242,223 147,702
TOTAL OPERATING EXPENSES 386,209 502,181 1,567,043 1,391,678
LOSS FROM OPERATIONS (386,209) (502,181) (1,567,043) (1,391,678)
OTHER INCOME (EXPENSE)        
Interest expense (157,208) (167,375) (418,579) (455,133)
Interest income 8 27
Change in fair value of derivative liabilities (238,367) 165,365 (110,859) (2,392)
Gain from settlement of accounts payable 17,499
Gain on extinguishment of debt, net (10,724) 32,186
Foreign currency transaction gain (loss) (19,025) 41,717 3,210 40,631
TOTAL OTHER EXPENSE, NET (425,316) 39,707 (476,516) (416,894)
LOSS BEFORE TAXES (811,525) (462,474) (2,043,559) (1,808,572)
Tax benefit 1,716 (213) 131,037 55,250
NET LOSS (809,809) (462,687) (1,912,522) (1,753,322)
Deemed Dividend (237,389) (408,557) (445,631)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (809,809) $ (700,076) $ (2,321,079) $ (2,198,953)
BASIC AND DILUTED NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS $ (0.00) $ (0.01) $ (0.00) $ (0.05)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 1,924,073,522 66,353,881 1,115,848,071 47,561,123
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized foreign currency translation gain (loss) $ 40,614 $ (55,096) $ 59,198 $ 1,400
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 40,614 (55,096) 59,198 1,400
TOTAL COMPREHENSIVE LOSS $ (769,195) $ (755,172) $ (2,261,881) $ (2,197,553)

Source

v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,912,522) $ (1,753,322)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 56,811 222,452
Foreign currency transaction gain (3,210) (40,631)
Depreciation expense 1,345 1,503
Amortization of debt discounts 138,014 24,942
Amortization of right-of-use assets 16,029
Change in fair value of derivative liabilities 110,859 2,392
Gain on extinguishment of debt, net (32,186)
Gain from settlement of accounts payable (17,499)
Stock option, stock warrants and restricted stock expense 2,408 62,154
Non-cash interest expense 2,250
Accretion of put premium 232,674 380,962
Changes in Assets and Liabilities:    
GST receivable (1,065) 2,120
Prepaid expenses and other assets 8,348 (8,405)
Accounts payable 27,953 (34,319)
Employee benefit liability 177,198 23,816
Accrued expenses and other payables 236,034 43,285
Accrued interest 46,347 45,495
Operating lease liability (14,816)
NET CASH USED IN OPERATING ACTIVITIES (927,278) (1,025,306)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes, net of original issue discounts and issue costs 590,250 641,500
Proceeds from the sale of common stock 24,711
Collection of subscription receivable 23,758
Proceeds from the exercise of warrants 375,000 475,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,013,719 1,116,500
Effect of exchange rate changes on cash 2,733 40,436
NET INCREASE IN CASH 89,174 131,630
CASH AT BEGINNING OF PERIOD 4,067 2,255
CASH AT END OF PERIOD 93,241 133,885
Supplemental Disclosure of Cash Flow Information    
Interest 1,544 1,485
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 351,992 227,150
Conversion of convertible notes and accrued interest to common stock 823,206 414,630
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 $ 445,631

Source

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