Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)

v3.8.0.1
Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
REVENUE        
Revenue
OPERATING EXPENSES        
Administration expenses 723,992 1,153,138 1,750,840 3,893,534
Occupancy expenses 8,005 7,649 23,734 22,237
Research and development 75,138 386,490 1,673,606 714,889
TOTAL OPERATING EXPENSES 807,135 1,547,277 3,448,180 4,630,660
LOSS FROM OPERATIONS (807,135) (1,547,277) (3,448,180) (4,630,660)
OTHER INCOME (EXPENSE)        
Interest expense (830,911) (798,361) (2,210,097) (2,525,375)
Interest income 15 648 82 661
Change in fair value of derivative liabilities 207,736 273,545 (22,035) 603,938
Gain (loss) on debt settlements, net (71,151) (343) (34,337) (131,900)
Gain (loss) on extinguishment of debt, net 240,301 156,574
Foreign currency transaction gain (loss) (230,346) 394,503 (239,498) 143,169
TOTAL OTHER INCOME (EXPENSE) (684,356) (130,008) (2,349,311) (1,909,507)
LOSS BEFORE INCOME TAXES (1,491,491) (1,677,285) (5,797,491) (6,540,167)
TAX BENEFIT 485 306,159 180,763 306,159
NET LOSS $ (1,491,006) $ (1,371,126) $ (5,616,728) $ (6,234,008)
BASIC AND DILUTED NET LOSS PER SHARE $ (0.06) $ (0.38) $ (0.42) $ (1.86)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING 23,426,370 3,653,154 13,247,004 3,347,593
NET LOSS $ (1,491,006) $ (1,371,126) $ (5,616,728) $ (6,234,008)
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized foreign currency translation gain (loss) 198,634 (473,998) 28,370 (217,100)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 198,634 (473,998) 28,370 (217,100)
TOTAL COMPREHENSIVE INCOME (LOSS) $ (1,292,372) $ (1,845,124) $ (5,588,358) $ (6,451,108)