Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,923,743) $ (1,101,969)
Adjustments to Reconcile Net loss to Net Cash Used in Operating Activities:    
Issuance and amortization of common stock for services 39,844 84,076
Issuance of convertible promissory notes for services 310,000
Warrant modification expense 21,007
Gain on settlement of accounts payable 8,570
Foreign currency transaction gain (133,792) (173,989)
Depreciation expense 571 549
Amortization of debt discount 214,472 444,835
Change in fair value of derivative liabilities (30,274) (369,373)
Stock option expense 164,881 494,642
Accretion of put premium 609,796
Changes in Assets and Liabilities:    
GST receivable 1,151 20,244
Prepaid expenses and other assets 4,962 29
Accounts payable 105,424 (56,687)
Employee benefit liability 6,161 5,916
Payment for security deposit 1,669
Accrued expenses (231,854) (58,457)
Accrued interest 68,163 3,910
NET CASH USED IN OPERATING ACTIVITIES (785,668) (683,598)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible promissory notes 894,000 150,000
Proceeds from the exercise of warrants 464,286
NET CASH PROVIDED BY FINANCING ACTIVITIES 894,000 614,286
Effect of exchange rate changes on cash (34,810) (26,845)
NET INCREASE (DECREASE) IN CASH 73,522 (96,157)
CASH AT BEGINNING OF PERIOD 69,043 121,070
CASH AT END OF PERIOD 142,565 24,913
Cash paid during the period:    
Interest
Income Tax
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Reduction of put premium related to conversions of convertible note 128,333 40,909
Conversion of convertible notes and accrued interest to common stock 484,506 153,610
Discounts related to warrants issued with convertible debenture 910,178
Discounts related to derivative liability $ 310,000 $ 165,000