Investors

Financials

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Jun. 30, 2018
CURRENT ASSETS:    
Cash $ 38,914 $ 19,921
GST tax receivable 1,699 6,257
Prepaid expenses and other current assets 32,418 34,712
TOTAL CURRENT ASSETS 73,031 60,890
Security deposit - related party 2,171 2,220
Property and equipment, net 7,573 8,277
TOTAL ASSETS 82,775 71,387
CURRENT LIABILITIES:    
Accounts payable 1,134,120 1,157,369
Accrued expenses and other payables 360,610 364,404
Convertible notes and related accrued interest, net of discounts and premiums 3,758,891 4,699,299
Embedded conversion option liabilities 157,377 371,532
Due to director - related party 32,182 32,898
Loans from directors and officer - related parties 53,561 54,753
Employee benefit liability 144,078 143,052
TOTAL CURRENT LIABILITIES 5,640,819 6,823,307
Commitments and Contingencies (See Note 7)
STOCKHOLDERS' DEFICIT:    
Common stock, $0.001 par value; 4,000,000,000 shares authorized; 175,583,971 and 46,429,423 shares issued; 175,559,493 and 46,404,945 outstanding as of September 30, 2018 and June 30, 2018, respectively 175,584 46,429
Additional paid-in capital 41,081,318 38,167,877
Accumulated other comprehensive income (loss) 634,145 357,929
Accumulated deficit (47,407,614) (45,282,678)
Treasury stock (24,478 shares) (46,477) (46,477)
TOTAL STOCKHOLDERS' DEFICIT (5,558,044) (6,751,920)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 82,775 71,387
Series A Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock, 1,500,005 shares authorized, $0.01 par value: 5,000 5,000
TOTAL STOCKHOLDERS' DEFICIT 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock, 1,500,005 shares authorized, $0.01 par value:
TOTAL STOCKHOLDERS' DEFICIT

Source

v3.10.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
REVENUE    
Revenue
OPERATING EXPENSES    
Administration expenses 384,600 631,406
Occupancy expenses 8,078 8,830
Research and development 56,193 563,739
TOTAL OPERATING EXPENSES 448,871 1,203,975
LOSS FROM OPERATIONS (448,871) (1,203,975)
OTHER INCOME (EXPENSE)    
Interest expense (624,538) (892,432)
Interest income 4 28
Change in fair value of derivative liabilities (1,971,116) 30,274
Gain on debt settlements, net 14,421 8,570
Gain on extinguishment of debt, net 1,185,871
Foreign currency transaction gain (loss) (280,707) 133,792
TOTAL OTHER INCOME (EXPENSE) (1,676,065) (719,768)
LOSS BEFORE TAXES (2,124,936) (1,923,743)
TAX BENEFIT
NET LOSS $ (2,124,936) $ (1,923,743)
BASIC AND DILUTED NET LOSS PER SHARE $ (0.02) $ (0.36)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 112,482,281 5,285,552
NET LOSS $ (2,124,936) $ (1,923,743)
OTHER COMPREHENSIVE INCOME (LOSS)    
Unrealized foreign currency translation gain (loss) 276,216 (189,593)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 276,216 (189,593)
TOTAL COMPREHENSIVE INCOME (LOSS) $ (1,848,720) $ (2,113,336)

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,124,936) $ (1,923,743)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 39,844
Issuance of convertible promissory notes for services 310,000
(Gain) loss on settlements, net (14,421) 8,570
Foreign currency transaction loss (gain) 280,707 (133,792)
Depreciation expense 529 571
Amortization of debt discounts 217,928 214,472
Change in fair value of derivative liabilities 1,971,116 (30,274)
Gain on extinguishment of debt (1,185,871)
Stock option expense 164,881
Accretion of put premium 343,771 609,796
Changes in Assets and Liabilities:    
GST receivable 4,469 1,151
Prepaid expenses and other assets 2,102 4,962
Accounts payable 16,378 105,424
Employee benefit liability 4,183 6,161
Accrued expenses 4,179 (231,854)
Accrued interest 60,670 68,163
NET CASH USED IN OPERATING ACTIVITIES (419,196) (785,668)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes 533,389 894,000
Repayments of convertible promissory notes (53,000)
Proceeds from the exercise of warrants 30
NET CASH PROVIDED BY FINANCING ACTIVITIES 480,419 894,000
Effect of exchange rate changes on cash (42,230) (34,810)
NET INCREASE IN CASH 18,993 73,522
CASH AT BEGINNING OF PERIOD 19,921 69,043
CASH AT END OF PERIOD 38,914 142,565
Supplemental Disclosure of Cash Flow Information    
Interest
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Reduction of put premium related to conversions of convertible notes 600,209 128,333
Conversion of convertible notes and accrued interest to common stock 1,413,318 484,506
Discounts related to derivative liability $ 50,000 $ 310,000

Source

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