Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments and Fair Value Measurements (Tables)

v3.20.1
Derivative Financial Instruments and Fair Value Measurements (Tables)
9 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

Convertible Debt

 

   

Initial Valuations
(on new derivative
instruments entered

into during the nine
months ended
March 31, 2020)

    March 31, 2020  
Volatility     227.82-279.44 %     275.06 %
Expected Remaining Term (in years)     1       00.01 – 0.95  
Risk Free Interest Rate     1.53-1.59 %     0.05% – 0.17 %
Expected dividend yield     None       None  

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2020:

 

    Balance at
March 31, 2020
   

Quoted Prices

in Active

Markets for

Identical
Assets

   

Significant

Other

Observable
Inputs

   

Significant

Unobservable Inputs

 
          (Level 1)     (Level 2)     (Level 3)  
Embedded conversion option liabilities   $ 318,368     $     $     $ 318,368  
Total   $ 318,368     $     $     $ 318,368  

Schedule of Derivative Liabilities at Fair Value

The following is a roll forward for the nine months ended March 31, 2020 of the fair value liability of price adjustable derivative instruments:

 

    Fair Value of  
    Liability for  
    Derivative  
    Instruments  
Balance at June 30, 2019   $ 698,264  
Initial fair value of embedded conversion option derivative liability recorded as debt discount     227,000  
Initial fair value of embedded conversion option derivative liability recorded as expense     351,461  
Reductions due to conversions     (308,522 )
Change in fair value included in statements of operations     (649,835 )
Balance at March 31, 2020   $ 318,368