0001517681 false 2022 Q2 --06-30 P1Y P1Y 0001517681 2021-07-01 2021-12-31 0001517681 2022-02-14 0001517681 2021-12-31 0001517681 2021-06-30 0001517681 us-gaap:SeriesAPreferredStockMember 2021-12-31 0001517681 us-gaap:SeriesAPreferredStockMember 2021-06-30 0001517681 us-gaap:SeriesBPreferredStockMember 2021-12-31 0001517681 us-gaap:SeriesBPreferredStockMember 2021-06-30 0001517681 2021-10-01 2021-12-31 0001517681 2020-10-01 2020-12-31 0001517681 2020-07-01 2020-12-31 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2020-06-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2020-06-30 0001517681 us-gaap:CommonStockMember 2020-06-30 0001517681 PPCB:CommonStockIssuableMember 2020-06-30 0001517681 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0001517681 PPCB:SubscriptionReceivableMember 2020-06-30 0001517681 us-gaap:RetainedEarningsMember 2020-06-30 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0001517681 us-gaap:TreasuryStockMember 2020-06-30 0001517681 2020-06-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2020-09-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2020-09-30 0001517681 us-gaap:CommonStockMember 2020-09-30 0001517681 PPCB:CommonStockIssuableMember 2020-09-30 0001517681 us-gaap:AdditionalPaidInCapitalMember 2020-09-30 0001517681 PPCB:SubscriptionReceivableMember 2020-09-30 0001517681 us-gaap:RetainedEarningsMember 2020-09-30 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-09-30 0001517681 us-gaap:TreasuryStockMember 2020-09-30 0001517681 2020-09-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2021-06-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2021-06-30 0001517681 us-gaap:CommonStockMember 2021-06-30 0001517681 PPCB:CommonStockIssuableMember 2021-06-30 0001517681 us-gaap:AdditionalPaidInCapitalMember 2021-06-30 0001517681 PPCB:SubscriptionReceivableMember 2021-06-30 0001517681 us-gaap:RetainedEarningsMember 2021-06-30 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-06-30 0001517681 us-gaap:TreasuryStockMember 2021-06-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2021-09-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2021-09-30 0001517681 us-gaap:CommonStockMember 2021-09-30 0001517681 PPCB:CommonStockIssuableMember 2021-09-30 0001517681 us-gaap:AdditionalPaidInCapitalMember 2021-09-30 0001517681 PPCB:SubscriptionReceivableMember 2021-09-30 0001517681 us-gaap:RetainedEarningsMember 2021-09-30 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-09-30 0001517681 us-gaap:TreasuryStockMember 2021-09-30 0001517681 2021-09-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2020-07-01 2020-09-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2020-07-01 2020-09-30 0001517681 us-gaap:CommonStockMember 2020-07-01 2020-09-30 0001517681 PPCB:CommonStockIssuableMember 2020-07-01 2020-09-30 0001517681 us-gaap:AdditionalPaidInCapitalMember 2020-07-01 2020-09-30 0001517681 PPCB:SubscriptionReceivableMember 2020-07-01 2020-09-30 0001517681 us-gaap:RetainedEarningsMember 2020-07-01 2020-09-30 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-07-01 2020-09-30 0001517681 us-gaap:TreasuryStockMember 2020-07-01 2020-09-30 0001517681 2020-07-01 2020-09-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2020-10-01 2020-12-31 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2020-10-01 2020-12-31 0001517681 us-gaap:CommonStockMember 2020-10-01 2020-12-31 0001517681 PPCB:CommonStockIssuableMember 2020-10-01 2020-12-31 0001517681 us-gaap:AdditionalPaidInCapitalMember 2020-10-01 2020-12-31 0001517681 PPCB:SubscriptionReceivableMember 2020-10-01 2020-12-31 0001517681 us-gaap:RetainedEarningsMember 2020-10-01 2020-12-31 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-10-01 2020-12-31 0001517681 us-gaap:TreasuryStockMember 2020-10-01 2020-12-31 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2021-07-01 2021-09-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2021-07-01 2021-09-30 0001517681 us-gaap:CommonStockMember 2021-07-01 2021-09-30 0001517681 PPCB:CommonStockIssuableMember 2021-07-01 2021-09-30 0001517681 us-gaap:AdditionalPaidInCapitalMember 2021-07-01 2021-09-30 0001517681 PPCB:SubscriptionReceivableMember 2021-07-01 2021-09-30 0001517681 us-gaap:RetainedEarningsMember 2021-07-01 2021-09-30 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-07-01 2021-09-30 0001517681 us-gaap:TreasuryStockMember 2021-07-01 2021-09-30 0001517681 2021-07-01 2021-09-30 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2021-10-01 2021-12-31 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2021-10-01 2021-12-31 0001517681 us-gaap:CommonStockMember 2021-10-01 2021-12-31 0001517681 PPCB:CommonStockIssuableMember 2021-10-01 2021-12-31 0001517681 us-gaap:AdditionalPaidInCapitalMember 2021-10-01 2021-12-31 0001517681 PPCB:SubscriptionReceivableMember 2021-10-01 2021-12-31 0001517681 us-gaap:RetainedEarningsMember 2021-10-01 2021-12-31 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-10-01 2021-12-31 0001517681 us-gaap:TreasuryStockMember 2021-10-01 2021-12-31 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2020-12-31 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2020-12-31 0001517681 us-gaap:CommonStockMember 2020-12-31 0001517681 PPCB:CommonStockIssuableMember 2020-12-31 0001517681 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001517681 PPCB:SubscriptionReceivableMember 2020-12-31 0001517681 us-gaap:RetainedEarningsMember 2020-12-31 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001517681 us-gaap:TreasuryStockMember 2020-12-31 0001517681 2020-12-31 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2021-12-31 0001517681 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2021-12-31 0001517681 us-gaap:CommonStockMember 2021-12-31 0001517681 PPCB:CommonStockIssuableMember 2021-12-31 0001517681 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001517681 PPCB:SubscriptionReceivableMember 2021-12-31 0001517681 us-gaap:RetainedEarningsMember 2021-12-31 0001517681 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0001517681 us-gaap:TreasuryStockMember 2021-12-31 0001517681 2020-11-16 2020-11-17 0001517681 PPCB:IntercompanyLoansMember 2021-07-01 2021-12-31 0001517681 PPCB:IntercompanyLoansMember 2020-07-01 2020-12-31 0001517681 PPCB:TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember 2021-12-31 0001517681 srt:WeightedAverageMember 2021-12-31 0001517681 srt:WeightedAverageMember 2021-06-30 0001517681 us-gaap:MachineryAndEquipmentMember 2021-07-01 2021-12-31 0001517681 us-gaap:FurnitureAndFixturesMember 2021-07-01 2021-12-31 0001517681 us-gaap:EmployeeStockOptionMember 2021-07-01 2021-12-31 0001517681 us-gaap:EmployeeStockOptionMember 2020-07-01 2020-12-31 0001517681 us-gaap:WarrantMember 2021-07-01 2021-12-31 0001517681 us-gaap:WarrantMember 2020-07-01 2020-12-31 0001517681 PPCB:UnvestedRestrictedStockMember 2021-07-01 2021-12-31 0001517681 PPCB:UnvestedRestrictedStockMember 2020-07-01 2020-12-31 0001517681 us-gaap:ConvertibleDebtSecuritiesMember 2021-07-01 2021-12-31 0001517681 us-gaap:ConvertibleDebtSecuritiesMember 2020-07-01 2020-12-31 0001517681 PPCB:DirectorsAndOfficerMember 2021-12-31 0001517681 PPCB:DirectorsAndOfficerMember 2021-06-30 0001517681 2017-08-10 0001517681 2017-08-09 2017-08-10 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember 2017-08-10 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember 2017-08-07 2017-08-10 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember 2018-06-30 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember PPCB:ConsultantMember 2018-06-30 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember PPCB:ConsultantMember 2019-06-30 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember 2019-06-30 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember 2019-07-01 2020-06-30 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember 2020-06-30 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember PPCB:SettlementAndMutualReleaseAgreementMember 2021-03-15 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember PPCB:SettlementAndMutualReleaseAgreementMember 2020-07-01 2021-06-30 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember PPCB:SettlementAndMutualReleaseAgreementMember 2021-06-30 0001517681 PPCB:AugustTenTwoThousandAndSeventeenConsultingAgreementMember PPCB:SettlementAndMutualReleaseAgreementMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2019-08-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2019-09-04 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2019-09-03 2019-09-04 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2019-08-29 2019-08-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember PPCB:FirstWarrantMember 2019-08-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember PPCB:SecondWarrantMember 2019-08-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember PPCB:ThirdWarrantMember 2019-08-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2019-07-01 2020-06-30 0001517681 PPCB:AuctusFinancingAgreementMember 2020-06-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2020-06-30 0001517681 PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2020-06-30 0001517681 PPCB:AuctusFinancingAgreementMember 2021-06-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2021-06-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2020-07-01 2021-06-30 0001517681 PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2021-06-30 0001517681 PPCB:AuctusFinancingAgreementMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2021-07-01 2021-12-31 0001517681 PPCB:AuctusFundLLCMember PPCB:AugustTwoThousandNineteenAuctusNoteMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember PPCB:OctoberThreeTwoThousandNineteenAuctusNoteMember 2019-10-03 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember PPCB:OctoberThreeTwoThousandNineteenAuctusNoteMember 2019-10-01 2019-10-03 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember PPCB:OctoberThreeTwoThousandNineteenAuctusNoteMember srt:MinimumMember 2019-10-01 2019-10-03 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember PPCB:OctoberThreeTwoThousandNineteenAuctusNoteMember srt:MaximumMember 2019-10-01 2019-10-03 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember PPCB:OctoberThreeTwoThousandNineteenAuctusNoteMember 2020-06-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember PPCB:OctoberThreeTwoThousandNineteenAuctusNoteMember 2019-07-01 2020-06-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember 2020-09-15 2020-09-16 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember 2020-11-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember PPCB:OctoberThreeTwoThousandNineteenAuctusNoteMember 2021-06-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:CrownBridgePartnersLLCMember PPCB:OctoberThreeTwoThousandNineteenAuctusNoteMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:GWHoldingsGroupLLCMember PPCB:DecemberTenTwoThousandTwentyGWNoteMember 2020-12-10 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:GWHoldingsGroupLLCMember PPCB:DecemberTenTwoThousandTwentyGWNoteMember 2020-12-09 2020-12-10 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:GWHoldingsGroupLLCMember PPCB:DecemberTenTwoThousandTwentyGWNoteMember srt:MinimumMember 2020-12-09 2020-12-10 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:GWHoldingsGroupLLCMember PPCB:DecemberTenTwoThousandTwentyGWNoteMember srt:MaximumMember 2020-12-09 2020-12-10 0001517681 PPCB:GWHoldingsFinancingAgreementMember PPCB:GWHoldingsGroupLLCMember PPCB:DecemberTenTwoThousandTwentyGWNoteMember 2020-12-10 0001517681 PPCB:GWHoldingsFinancingAgreementMember PPCB:GWHoldingsGroupLLCMember PPCB:DecemberTenTwoThousandTwentyGWNoteMember 2021-06-30 0001517681 PPCB:GWHoldingsFinancingAgreementMember PPCB:GWHoldingsGroupLLCMember PPCB:DecemberTenTwoThousandTwentyGWNoteMember 2021-12-31 0001517681 PPCB:GWHoldingsFinancingAgreementMember PPCB:DecemberTenTwoThousandTwentyGWNoteMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:JanuaryFiveTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-01-05 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:MarchSixteenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-03-16 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:MarchSixteenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-03-15 2021-03-16 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AugustNineteenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-08-19 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:AugustNineteenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-08-18 2021-08-19 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-09-22 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-09-21 2021-09-22 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember srt:MinimumMember 2021-09-21 2021-09-22 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember srt:MaximumMember 2021-09-21 2021-09-22 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember srt:MinimumMember 2021-09-21 2021-09-22 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-09-22 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-07-01 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-09-21 2021-09-22 0001517681 PPCB:GenevaRothFinancingAgreementAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-06-30 0001517681 PPCB:GenevaRothFinancingAgreementAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember 2021-06-30 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember 2021-06-30 0001517681 PPCB:GenevaRothFinancingAgreementAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-12-31 0001517681 PPCB:GenevaRothFinancingAgreementAgreementMember PPCB:SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:OctoberTwentyOneTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-10-21 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:OctoberTwentyOneTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-10-20 2021-10-21 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:NovemberTwentySixTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-11-26 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:NovemberTwentySixTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-11-25 2021-11-26 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:NovemberTwentySixTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember srt:MinimumMember 2021-11-25 2021-11-26 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:NovemberTwentySixTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember srt:MaximumMember 2021-11-25 2021-11-26 0001517681 PPCB:GenevaRothFinancingAgreementAgreementMember PPCB:NovemberTwentySixTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:DecemberSevenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-12-07 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:DecemberSevenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-12-06 2021-12-07 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:DecemberSevenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember srt:MinimumMember 2021-12-06 2021-12-07 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:DecemberSevenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember srt:MaximumMember 2021-12-06 2021-12-07 0001517681 PPCB:SecuritiesPurchaseAgreementMember PPCB:DecemberSevenThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember srt:MinimumMember 2021-12-06 2021-12-07 0001517681 PPCB:GenevaRothFinancingAgreementAgreementMember PPCB:DecemberSevenTwoThousandTwentyOneGenevaRothMember PPCB:GenevaRothRemarkHoldingsIncMember 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember 2021-07-01 2021-12-31 0001517681 PPCB:SecuritiesPurchaseAgreementMember 2020-07-01 2020-12-31 0001517681 2020-02-03 0001517681 2020-02-04 0001517681 us-gaap:PreferredStockMember 2021-12-31 0001517681 srt:MaximumMember us-gaap:SeriesBPreferredStockMember 2021-12-31 0001517681 us-gaap:SeriesBPreferredStockMember PPCB:NathanielszMember 2021-12-31 0001517681 us-gaap:SeriesBPreferredStockMember 2021-07-01 2021-12-31 0001517681 us-gaap:SeriesAPreferredStockMember 2021-07-01 2021-12-31 0001517681 us-gaap:SeriesAPreferredStockMember 2020-07-01 2021-06-30 0001517681 us-gaap:SeriesBPreferredStockMember 2020-07-01 2021-06-30 0001517681 srt:MaximumMember PPCB:DutchessMember PPCB:CommonStockPurchaseAgreementMember 2021-11-28 2021-11-30 0001517681 PPCB:DutchessMember PPCB:CommonStockPurchaseAgreementMember 2021-11-28 2021-11-30 0001517681 PPCB:DutchessMember PPCB:CommonStockPurchaseAgreementMember 2021-11-30 0001517681 PPCB:DutchessMember PPCB:CommonStockPurchaseAgreementMember us-gaap:RestrictedStockMember 2021-11-28 2021-11-30 0001517681 PPCB:DutchessMember PPCB:CommonStockPurchaseAgreementMember us-gaap:RestrictedStockMember 2021-11-30 0001517681 PPCB:DutchessMember PPCB:CommonStockPurchaseAgreementMember 2021-12-31 0001517681 us-gaap:ConvertibleDebtMember 2021-07-01 2021-12-31 0001517681 us-gaap:ConvertibleDebtMember 2021-12-31 0001517681 us-gaap:ConvertibleDebtMember srt:MinimumMember 2021-12-31 0001517681 us-gaap:ConvertibleDebtMember srt:MaximumMember 2021-12-31 0001517681 PPCB:UnderlyingFinancingAgreementsMember us-gaap:ConvertibleDebtMember us-gaap:CommonStockMember 2021-12-31 0001517681 us-gaap:CommonStockMember 2021-08-11 2021-08-12 0001517681 us-gaap:CommonStockMember 2021-08-12 0001517681 us-gaap:CommonStockMember 2021-07-01 2021-12-31 0001517681 PPCB:LegalServicesMember us-gaap:CommonStockMember 2021-08-11 2021-08-12 0001517681 PPCB:LegalServicesMember us-gaap:CommonStockMember 2021-08-12 0001517681 PPCB:LegalServicesMember us-gaap:CommonStockMember 2021-07-01 2021-12-31 0001517681 PPCB:ConsultantServicesMember us-gaap:CommonStockMember 2021-09-29 2021-09-30 0001517681 PPCB:ConsultantServicesMember us-gaap:CommonStockMember 2021-09-30 0001517681 PPCB:ConsultantServicesMember 2021-07-01 2021-12-31 0001517681 PPCB:NathanielszCancellationAgreementMember 2021-08-11 2021-08-12 0001517681 PPCB:MrNathanielszMember PPCB:NathanielszCancellationAgreementMember 2021-07-19 2021-07-20 0001517681 PPCB:MrNathanielszMember PPCB:NathanielszCancellationAgreementMember 2021-08-11 2021-08-12 0001517681 PPCB:MrNathanielszMember PPCB:NathanielszCancellationAgreementMember 2021-08-12 0001517681 PPCB:MrNathanielszMember 2021-07-01 2021-12-31 0001517681 PPCB:DeferredSalaryMember PPCB:CancellationAgreementMember PPCB:ChiefScientificOfficerandDirectorMember 2021-08-12 0001517681 PPCB:ChiefScientificOfficerandDirectorMember 2021-08-11 2021-08-12 0001517681 PPCB:ChiefScientificOfficerandDirectorMember 2021-08-12 0001517681 PPCB:ChiefScientificOfficerandDirectorMember 2021-07-01 2021-12-31 0001517681 PPCB:DirectorAgreementMember PPCB:JosefZelingerMember 2021-08-12 0001517681 PPCB:DirectorAgreementMember PPCB:JosefZelingerMember 2020-07-01 2021-06-30 0001517681 PPCB:DirectorAgreementMember PPCB:JosefZelingerMember 2021-06-30 0001517681 PPCB:DirectorAgreementMember PPCB:JosefZelingerMember 2021-07-01 2021-12-31 0001517681 us-gaap:WarrantMember 2021-07-09 2021-09-27 0001517681 us-gaap:WarrantMember 2021-09-27 0001517681 PPCB:SeriesBWarrantMember 2021-09-27 0001517681 us-gaap:CommonStockMember 2021-09-27 0001517681 us-gaap:CommonStockMember 2021-10-31 0001517681 us-gaap:WarrantMember 2021-10-31 0001517681 PPCB:SeriesBWarrantMember 2021-12-31 0001517681 PPCB:FourtyFourSeriesAWarrantsMember 2021-12-31 0001517681 PPCB:FourtyFourSeriesAWarrantsMember 2021-07-01 2021-12-31 0001517681 PPCB:From2012ThroughThe2014Member 2021-07-01 2021-12-31 0001517681 us-gaap:RoyaltyAgreementTermsMember 2012-06-01 2012-06-30 0001517681 us-gaap:LicenseAgreementTermsMember 2012-06-01 2012-06-30 0001517681 PPCB:ConsultingAgreementMember 2021-09-28 2021-10-02 0001517681 PPCB:OneYearCollaborationAgreementMember 2018-09-10 2018-09-13 0001517681 PPCB:TwoYearCollaborationAgreementMember 2018-09-10 2018-09-13 0001517681 PPCB:TwoYearCollaborationAgreementMember 2018-07-01 2019-06-30 0001517681 PPCB:TwoYearCollaborationAgreementMember 2020-07-01 2021-06-30 0001517681 PPCB:TwoYearCollaborationAgreementMember 2020-09-29 2020-10-02 0001517681 PPCB:TwoYearCollaborationAgreementMember 2020-11-01 2020-11-30 0001517681 PPCB:TwoYearCollaborationAgreementMember 2021-03-01 2021-03-31 0001517681 PPCB:TwoYearCollaborationAgreementMember 2021-12-01 2021-12-31 0001517681 us-gaap:SubsequentEventMember PPCB:TwoYearCollaborationAgreementMember 2022-09-01 2022-09-30 0001517681 PPCB:TwoYearCollaborationAgreementMember PPCB:UniversityOfJaenMember 2020-09-29 2020-10-02 0001517681 PPCB:FormerDirectorMember 2021-12-31 0001517681 PPCB:FormerDirectorMember 2021-06-30 0001517681 PPCB:FormerDirectorMember 2020-06-30 0001517681 PPCB:NorthHorizonPtyLtdMember 2021-05-03 2021-05-06 0001517681 PPCB:NorthHorizonPtyLtdMember 2021-05-05 2021-05-06 0001517681 PPCB:NorthHorizonPtyLtdMember 2021-10-01 2021-12-31 0001517681 PPCB:NorthHorizonPtyLtdMember 2020-10-01 2020-12-31 0001517681 PPCB:NorthHorizonPtyLtdMember 2020-07-01 2021-12-31 0001517681 PPCB:NorthHorizonPtyLtdMember 2019-07-01 2020-12-31 0001517681 PPCB:NathanielszEmploymentAgreementMember 2015-02-24 2015-02-25 0001517681 PPCB:NathanielszEmploymentAgreementMember 2021-07-01 2021-12-31 0001517681 PPCB:NathanielszEmploymentAgreementMember 2020-07-01 2021-06-30 0001517681 PPCB:NathanielszEmploymentAgreementMember srt:MinimumMember 2018-03-15 2018-03-16 0001517681 PPCB:NathanielszEmploymentAgreementMember srt:MaximumMember 2018-03-15 2018-03-16 0001517681 PPCB:MrsNathanielszMember 2018-01-28 2018-02-01 0001517681 PPCB:JamesNathanielszMember 2016-02-24 2016-02-25 0001517681 PPCB:MrsNathanielszMember 2021-07-01 2021-12-31 0001517681 PPCB:MrNathanielszMember PPCB:BoardOfDirectorsMember 2019-05-13 2019-05-14 0001517681 srt:ChiefExecutiveOfficerMember 2018-07-01 2019-06-30 0001517681 srt:ChiefExecutiveOfficerMember 2020-07-01 2021-06-30 0001517681 PPCB:BoardOfDirectorsMember PPCB:MrNathanielszMember 2021-08-11 2021-08-12 0001517681 srt:ChiefExecutiveOfficerMember 2021-07-01 2021-12-31 0001517681 PPCB:EmploymentAgreementMember PPCB:MrNathanielszMember 2019-05-13 2019-05-14 0001517681 PPCB:EmploymentAgreementMember PPCB:RestrictedStocksUnitsRSUMember 2019-05-13 2019-05-14 0001517681 PPCB:EmploymentAgreementMember PPCB:AdditionaNathanielszRSUsMember 2019-05-13 2019-05-14 0001517681 PPCB:EmploymentAgreementMember PPCB:AdditionaNathanielszRSUsMember 2021-07-01 2021-12-31 0001517681 PPCB:ServicesAgreementMember PPCB:DrKenyonMember 2019-05-13 2019-05-14 0001517681 PPCB:ServicesAgreementMember PPCB:DrKenyonMemberMember 2019-05-13 2019-05-14 0001517681 PPCB:ServicesAgreementMember PPCB:InitialKenyonRSUsMember 2019-05-13 2019-05-14 0001517681 PPCB:ServicesAgreementMember PPCB:AdditionalKenyonRSUsMember 2019-05-13 2019-05-14 0001517681 PPCB:ServicesAgreementMember 2019-05-14 0001517681 PPCB:ServicesAgreementMember us-gaap:RestrictedStockUnitsRSUMember 2021-07-01 2021-12-31 0001517681 PPCB:ServicesAgreementMember PPCB:DrKenyonMember 2021-08-12 0001517681 PPCB:ServicesAgreementMember PPCB:DrKenyonMember 2021-08-11 2021-08-12 0001517681 PPCB:LenderOneMember 2021-07-01 2021-12-31 0001517681 PPCB:LenderTwoMember 2021-07-01 2021-12-31 0001517681 PPCB:LenderThreeMember 2021-07-01 2021-12-31 0001517681 PPCB:LenderOneMember 2021-12-31 0001517681 PPCB:LenderTwoMember 2021-12-31 0001517681 PPCB:LenderThreeMember 2021-12-31 0001517681 PPCB:LenderOneMember 2020-07-01 2020-12-31 0001517681 PPCB:LenderTwoMember 2020-07-01 2020-12-31 0001517681 PPCB:LenderOneMember 2020-12-31 0001517681 PPCB:LenderTwoMember 2020-12-31 0001517681 2020-07-01 2021-06-30 0001517681 us-gaap:ConvertibleDebtMember 2021-06-30 0001517681 us-gaap:MeasurementInputPriceVolatilityMember us-gaap:DerivativeMember 2021-12-31 0001517681 us-gaap:MeasurementInputPriceVolatilityMember 2021-12-31 0001517681 us-gaap:MeasurementInputExpectedTermMember us-gaap:DerivativeMember 2021-07-01 2021-12-31 0001517681 us-gaap:MeasurementInputExpectedTermMember 2021-07-01 2021-12-31 0001517681 us-gaap:MeasurementInputRiskFreeInterestRateMember us-gaap:DerivativeMember 2021-12-31 0001517681 us-gaap:MeasurementInputRiskFreeInterestRateMember 2021-12-31 0001517681 us-gaap:MeasurementInputExpectedDividendRateMember us-gaap:DerivativeMember 2021-12-31 0001517681 us-gaap:MeasurementInputExpectedDividendRateMember 2021-12-31 0001517681 us-gaap:FairValueInputsLevel1Member 2021-12-31 0001517681 us-gaap:FairValueInputsLevel2Member 2021-12-31 0001517681 us-gaap:FairValueInputsLevel3Member 2021-12-31 0001517681 us-gaap:FairValueInputsLevel1Member 2021-06-30 0001517681 us-gaap:FairValueInputsLevel2Member 2021-06-30 0001517681 us-gaap:FairValueInputsLevel3Member 2021-06-30 0001517681 us-gaap:SubsequentEventMember 2022-01-01 2022-01-31 0001517681 us-gaap:SubsequentEventMember 2022-01-31 0001517681 us-gaap:SubsequentEventMember PPCB:SecuritiesPurchaseAgreementMember PPCB:SixthStreetLendingLLCMember PPCB:JanuaryFourTwoThousandAndTwentyTwoSixthStreetMember 2022-01-04 0001517681 us-gaap:SubsequentEventMember PPCB:SecuritiesPurchaseAgreementMember PPCB:SixthStreetLendingLLCMember PPCB:JanuaryFourTwoThousandAndTwentyTwoSixthStreetMember 2022-01-02 2022-01-04 0001517681 us-gaap:SubsequentEventMember PPCB:SecuritiesPurchaseAgreementMember PPCB:SixthStreetLendingLLCMember PPCB:JanuaryFourTwoThousandAndTwentyTwoSixthStreetMember srt:MinimumMember 2022-01-03 2022-01-04 0001517681 us-gaap:SubsequentEventMember PPCB:SecuritiesPurchaseAgreementMember PPCB:SixthStreetLendingLLCMember PPCB:JanuaryFourTwoThousandAndTwentyTwoSixthStreetMember srt:MaximumMember 2022-01-03 2022-01-04 0001517681 us-gaap:SubsequentEventMember PPCB:SecuritiesPurchaseAgreementMember PPCB:SixthStreetLendingLLCMember PPCB:JanuaryFourTwoThousandAndTwentyTwoSixthStreetMember 2022-01-03 2022-01-04 0001517681 us-gaap:SubsequentEventMember PPCB:FourteenSeriesAWarrantsMember us-gaap:WarrantMember 2022-01-01 2022-01-31 0001517681 us-gaap:SubsequentEventMember us-gaap:WarrantMember 2022-01-01 2022-01-31 0001517681 us-gaap:SubsequentEventMember PPCB:SeriesBWarrantsMember 2022-01-31 0001517681 us-gaap:SubsequentEventMember us-gaap:CommonStockMember 2022-01-31 0001517681 us-gaap:SubsequentEventMember PPCB:LegalServicesMember 2022-01-18 2022-01-20 0001517681 us-gaap:SubsequentEventMember PPCB:LegalServicesMember 2022-01-20 0001517681 us-gaap:SubsequentEventMember PPCB:ConsultantServicesMember 2022-01-22 2022-01-24 0001517681 us-gaap:SubsequentEventMember PPCB:ConsultantServicesMember 2022-01-24 0001517681 PPCB:ConsultantServicesMember 2021-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure PPCB:Integer iso4217:EUR iso4217:AUD

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended December 31, 2021

 

or

 

TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ___________ to ___________

 

Commission File Number: 000-54878

 

PROPANC BIOPHARMA, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   33-0662986

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

 

302, 6 Butler Street

Camberwell, VIC, 3124 Australia

(Address of principal executive offices) (Zip Code)

 

61 03 9882 6723

(Registrant’s telephone number, including area code)

 

n/a

(Former name, former address and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
None   None   None

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer Accelerated filer
Non-accelerated filer Smaller reporting company
    Emerging growth company

 

If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No

 

As of February 14, 2022, there were 61,417,527 shares of the registrant’s common stock, $0.001 par value per share, issued and outstanding.

 

 

 

 

 

 

PROPANC BIOPHARMA INC.

 

Table of Contents

 

    Page
PART I - FINANCIAL INFORMATION  
     
Item 1. Financial Statements F-1
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 3
Item 3. Quantitative and Qualitative Disclosures About Market Risk 8
Item 4. Controls and Procedures 8
     
PART II - OTHER INFORMATION  
     
Item 1. Legal Proceedings 10
Item 1A. Risk Factors 10
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 10
Item 3. Defaults Upon Senior Securities 10
Item 4. Mine Safety Disclosures 11
Item 5. Other Information 11
Item 6. Exhibits 11
  Signatures 12

 

2

 

 

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this Quarterly Report on Form 10-Q may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

 

Unless expressly indicated or the context requires otherwise, the terms “Propanc,” “company,” “we,” “us,” and “our” in this document refer to Propanc Biopharma, Inc., a Delaware corporation, and, where appropriate, its wholly owned subsidiary.

 

PART I — FINANCIAL INFORMATION

 

Item 1. Financial Statements.

 

The following unaudited interim condensed consolidated financial statements of Propanc Biopharma, Inc. are included in this Quarterly Report on Form 10-Q:

 

INDEX TO FINANCIAL STATEMENTS

 

  Page
Condensed Consolidated Balance Sheets at December 31, 2021(unaudited) and June 30, 2021 F-2
   
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended December 31, 2021 and 2020 (unaudited) F-3
   
Condensed Consolidated Statements of Changes in Stockholders’ Deficit for each of the three and six months in the period ended December 31, 2021 and 2020 (unaudited) F-4
   
Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2021 and 2020 (unaudited) F-5
   
Notes to the Condensed Consolidated Financial Statements (unaudited) F-6

 

F-1

 

 

PROPANC BIOPHARMA, INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED BALANCE SHEETS

 

   December 31, 2021   June 30, 2021 
   (Unaudited)     
ASSETS          
           
CURRENT ASSETS:          
Cash  $73,616   $2,255 
GST tax receivable   5,625    4,341 
Prepaid expenses and other current assets   5,637    - 
           
TOTAL CURRENT ASSETS   84,878    6,596 
           
Deferred offering costs   20,000    - 
Security deposit - related party   2,181    2,250 
Property and equipment, net   3,118    4,255 
           
TOTAL ASSETS  $110,177   $13,101 
           
LIABILITIES AND STOCKHOLDERS’ DEFICIT          
           
CURRENT LIABILITIES:          
Accounts payable  $920,692   $1,002,335 
Accrued expenses and other payables   420,257    892,151 
Convertible notes and related accrued interest, net of discounts and premiums   972,670    624,583 
Embedded conversion option liabilities   221,977    54,220 
Due to former director - related party   32,329    33,347 
Loan from former director - related party   53,805    55,500 
Employee benefit liability   418,640    418,538 
           
TOTAL CURRENT LIABILITIES   3,040,370    3,080,674 
           
TOTAL LIABILITIES  $3,040,370   $3,080,674 
           
Commitments and Contingencies (See Note 8)   -       
           
STOCKHOLDERS’ DEFICIT:          
Preferred stock, 1,500,005 shares authorized, $0.01 par value:          
Series A preferred stock, $0.01 par value; 500,000 shares authorized; 500,000 shares issued and outstanding as of December 31, 2021 and June 30, 2021  $5,000   $5,000 
Series B preferred stock, $0.01 par value; 5 shares authorized; 1 share issued and outstanding as of December 31, 2021 and June 30, 2021   -    - 
Common stock, $0.001 par value; 1,000,000,000 shares authorized;53,062,209 and 14,055,393 shares issued and outstanding as of December 31, 2021 and June 30, 2021, respectively   53,062    14,056 
Common stock issuable (59 shares as of December 31, 2021 and June 30, 2021)   -    - 
Additional paid-in capital   55,614,865    54,074,110 
Accumulated other comprehensive income   1,141,700    1,085,204 
Accumulated deficit   (59,698,343)   (58,199,466)
Treasury stock (1 share)   (46,477)   (46,477)
           
TOTAL STOCKHOLDERS’ DEFICIT   (2,930,193)   (3,067,573)
           
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT  $110,177   $13,101 

 

The accompanying unaudited condensed notes are an integral part of these unaudited condensed consolidated financial statements.

 

F-2

 

 

PROPANC BIOPHARMA, INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(Unaudited)

 

   2021   2020   2021   2020 
   Three Months Ended December 31,   Six Months Ended December 31, 
   2021   2020   2021   2020 
                 
REVENUE                    
Revenue  $-   $-   $-   $- 
                     
OPERATING EXPENSES                    
Administration expenses   346,164    216,179    777,904    539,290 
Occupancy expenses   6,550    7,750    14,286    16,954 
Research and development   50,753    50,165    97,307    101,011 
TOTAL OPERATING EXPENSES   403,467    274,094    889,497    657,255 
                     
LOSS FROM OPERATIONS   (403,467)   (274,094)   (889,497)   (657,255)
                     
OTHER INCOME (EXPENSE)                    
Interest expense   (177,905)   (157,835)   (287,758)   (317,116)
Interest income   -    1    -    1 
Change in fair value of derivative liabilities   (163,853)   (16,950)   (167,757)   48,002 
Gain on extinguishment of debt, net   -    -    -    49,985 
Foreign currency transaction gain (loss)   (110,215)   45,235    (1,086)   47,195 
TOTAL OTHER EXPENSE, NET   (451,973)   (129,549)   (456,601)   (171,933)
                     
LOSS BEFORE TAXES   (855,440)   (403,643)   (1,346,098)   (829,188)
                     
Tax benefit   55,463    -    55,463    - 
                     
NET LOSS  $(799,977)  $(403,643)  $(1,290,635)  $(829,188)
                     
Deemed Dividend   (93,398)   -    (208,242)   - 
                     
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS  $(893,375)  $(403,643)  $(1,498,877)  $(829,188)
                     
BASIC AND DILUTED NET LOSS PER SHARE  $(0.02)  $(0.45)  $(0.04)  $(1.13)
                     
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING   49,373,565    900,626    38,318,783    735,289 
                     
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS  $(893,375)  $(403,643)  $(1,498,877)  $(829,188)
                     
OTHER COMPREHENSIVE INCOME (LOSS)                    
Unrealized foreign currency translation gain (loss)   (7,697)   (167,765)   56,496    (243,520)
                     
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)   (7,697)   (167,765)   56,496    (243,520)
                     
TOTAL COMPREHENSIVE LOSS  $(901,072)  $(571,408)  $(1,442,381)  $(1,072,708)

 

The accompanying unaudited condensed notes are an integral part of these unaudited condensed consolidated financial statements.

 

F-3

 

 

PROPANC BIOPHARMA, INC. AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2021 AND 2020

(Unaudited)

 

   No. of Shares   Value   No. of Shares   Value   No. of Shares   Value     No. of Shares   Value   Paid-in Capital  

Subscription

Receivable

   Accumulated Deficit     

Comprehensive

Income

      Treasury Stock  

Stockholders’
Deficit

 
   Preferred Stock                                               
   Series A   Series B   Common Stock     Common Stock Issuable   Additional            

Accumulated

Other

         

Total

 
   No. of Shares   Value   No. of Shares   Value   No. of Shares   Value     No. of Shares   Value   Paid-in Capital  

Subscription

Receivable

   Accumulated Deficit     

Comprehensive

Income

      Treasury Stock  

Stockholders’
Deficit

 
                                                                 
                                                                 
Balance at June 30, 2020   500,000   $5,000    1   $-    258,120   $258      -   $-   $50,913,893   $        -   $(55,781,770)     $1,267,671      $(46,477)  $(3,641,425)
                                                                               
Issuance of common stock for conversion of convertible debt and accrued interest   -    -    -    -    442,031    442      -    -    480,133    -    -       -       -    480,575 
                                                                               
Reclassification of put premium upon debt conversion   -    -    -    -    -    -      -    -    204,919    -    -       -       -    204,919 
                                                                               
Issuance of common stock for exercise of warrants   -    -    -    -    15,445    15      -    -    201,029    -    -       -       -    201,044 
                                                                               
Stock based compensation in connection with fair value of warrants issued for services   -    -    -    -    -    -      -    -    20,718    -    -       -       -    20,718 
                                                                               
Foreign currency translation gain   -    -    -    -    -    -      -    -    -    -    -       (75,755)      -    (75,755)
                                                                               
Net loss for the three months ended September 31, 2020   -    -    -    -    -    -      -    -    -    -    (425,545)      -       -    (425,545)
                                                                               
Balance at September 30, 2020   500,000   $5,000    1   $-    715,596    715      -    -    51,820,692    -    (56,207,315)      1,191,916       (46,477)   (3,235,469)
                                                                               
Issuance of common stock for conversion of convertible debt and accrued interest   -    -    -    -    702,623    703      -    -    141,126    -    -       -       -    141,829 
                                                                               
Reversal of common stock issuable due to cancellation of conversions of convertible debt and accrued interest   -    -    -    -    (24,427)   (24)     -    -    (19,992)   -    -       -       -    (20,016)
                                                                               
Reversal of put premium upon cancellation of conversions of convertible debt   -    -    -    -    -    -      -    -    (11,785)   -    -       -       -    (11,785)
                                                                               
Reclassification of put premium upon debt conversion   -    -    -    -    -    -      -    -    68,090    -    -       -       -    68,090 
                                                                               
Issuance of common stock for cashless exercise of warrants   -    -    -    -    52,900    53      147,099    147    (200)   -    -       -       -    - 
                                                                               
Stock based compensation in connection with stock option grants   -    -    -    -    -    -      -    -    20,718    -    -       -       -    20,718 
                                                                               
Vested restricted stock units   -    -    -    -    -    -      59    -    -    -    -       -       -    -