Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions (Details Narrative)

v3.21.1
Related Party Transactions (Details Narrative)
9 Months Ended 12 Months Ended
Jul. 13, 2020
AUD ($)
May 14, 2019
USD ($)
$ / shares
shares
May 14, 2019
AUD ($)
shares
Mar. 16, 2018
USD ($)
Mar. 16, 2018
AUD ($)
Feb. 01, 2018
USD ($)
Feb. 01, 2018
AUD ($)
May 05, 2016
USD ($)
May 05, 2016
USD ($)
May 05, 2016
AUD ($)
Feb. 25, 2016
USD ($)
Feb. 25, 2016
AUD ($)
Feb. 25, 2015
AUD ($)
Mar. 31, 2021
USD ($)
$ / shares
shares
Mar. 31, 2021
AUD ($)
shares
Jun. 30, 2020
USD ($)
Jun. 30, 2020
AUD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2019
AUD ($)
Mar. 31, 2021
AUD ($)
May 05, 2016
AUD ($)
Loans from related party                           $ 56,366   $ 50,993          
Due to related parties                           $ 33,867   30,639          
Exercise price | $ / shares                                        
Granted exercise price | $ / shares                                        
Accrued salaries                           $ 92,547              
Chief Executive Officer [Member]                                          
Payments form related party                           127,165   136,606   $ 64,377      
Bonus payable amount                                   137,120      
Remaining bonus amount                                   $ 178,256      
Bonus payable                           179,372   280,726          
Nathanielsz Employment Agreement [Member]                                          
Expired date                         Feb. 25, 2019                
Annual salary                           $ 205,680              
Percentage of pension of monthly salary                           9.50% 9.50%            
Percentage of bonus of annual base salary                           200.00% 200.00%            
Nathanielsz Employment Agreement [Member] | Minimum [Member]                                          
Annual salary       $ 205,680                                  
Nathanielsz Employment Agreement [Member] | Maximum [Member]                                          
Annual salary       $ 274,240                                  
Employment Agreement [Member]                                          
Restricted stock unit issuable | shares                           39 39            
Services Agreement [Member]                                          
Restricted stock unit issuable | shares                           20 20            
AUD Currency [Member]                                          
Accrued salaries                                       $ 121,500  
AUD Currency [Member] | Chief Executive Officer [Member]                                          
Payments form related party                             $ 171,890   $ 202,620   $ 90,000    
Bonus payable amount                                     200,000    
Remaining bonus amount                                     $ 260,000    
Bonus payable                           $ 235,490   407,380          
AUD Currency [Member] | Nathanielsz Employment Agreement [Member]                                          
Annual salary                         $ 25,000   300,000            
AUD Currency [Member] | Nathanielsz Employment Agreement [Member] | Minimum [Member]                                          
Annual salary         $ 300,000                                
AUD Currency [Member] | Nathanielsz Employment Agreement [Member] | Maximum [Member]                                          
Annual salary         $ 400,000                                
Initial Nathanielsz RSUs [Member] | Employment Agreement [Member]                                          
Restricted stock shares of common stock | shares   39 39                                    
Additional Nathanielsz RSUs [Member] | Employment Agreement [Member]                                          
Restricted stock shares of common stock | shares   39 39                                    
Rsus vest, shares | shares   7.80 7.80                                    
Gross proceeds from equity financing   $ 4,000,000                                      
Initial Kenyon RSUs [Member] | Services Agreement [Member]                                          
Restricted stock shares of common stock | shares   20 20                                    
Additional Kenyon RSUs [Member] | Services Agreement [Member]                                          
Restricted stock shares of common stock | shares   20 20                                    
Rsus vest, shares | shares   5 5                                    
Gross proceeds from equity financing   $ 4,000,000                                      
North Horizon Pty Ltd [Member]                                          
Lease term               5 years 5 years                       5 years
Lease expiration date               May 31, 2021                          
Annual rental payments                 $ 28,325                        
Goods and service tax                 2,575                        
Future minimum payments due                           7,833              
Rent payable                           58,462              
North Horizon Pty Ltd [Member] | AUD Currency [Member]                                          
Annual rental payments                   $ 39,600                      
Goods and service tax                   $ 3,600                      
North Horizon Pty Ltd [Member] | AUD Currency [Member]                                          
Future minimum payments due                                       $ 10,283  
Rent payable                             76,752            
Current and Former Director [Member]                                          
Loans from related party                           56,366   50,993          
Former Director [Member]                                          
Due to related parties                           33,867   $ 30,639          
Nathanielsz [Member] | North Horizon Pty Ltd [Member]                                          
Future minimum payments due               $ 141,629 $ 141,629                        
Nathanielsz [Member] | North Horizon Pty Ltd [Member] | AUD Currency [Member]                                          
Future minimum payments due                                         $ 198,000
Mr. Nathanielsz [Member]                                          
Annual salary           $ 80,904                              
Payments form related party                           $ 26,356              
Mr. Nathanielsz [Member] | AUD Currency [Member]                                          
Annual salary             $ 120,000                            
Mr. Nathanielsz [Member] | AUD Currency [Member]                                          
Payments form related party                             $ 34,601            
James Nathanielsz [Member]                                          
Payments form related party                     $ 3,205                    
James Nathanielsz [Member] | AUD Currency [Member]                                          
Payments form related party                       $ 4,481                  
Mr. Nathanielsz [Member] | Board of Directors [Member]                                          
Officers' compensation   $ 315,376                                      
Mr. Nathanielsz [Member] | Employment Agreement [Member]                                          
Agreement term   3 years 3 years                                    
Agreement renewal term   1 year 1 year                                    
Option purchase shares | shares   39 39                                    
Exercise price | $ / shares   $ 4,675                                      
Market price   110.00% 110.00%                                    
Granted exercise price | $ / shares   $ 4,250                                      
Option term   10 years 10 years                                    
Options vested, description   The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz's continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz's continued employment with the Company through the applicable vesting date: (i) 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the "CTA") for PRP, the Company's lead product candidate ("PRP"), for a First-In-Human study for PRP (the "Study") in an applicable jurisdiction to be selected by the Company, (ii) 7.80 of the Additional Nathanielsz RSUs shall vest upon the CTA being approved in an applicable jurisdiction, (iii) 7.80 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iv) 7.80 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested restricted stock unit shall be settled by delivery to Mr. Nathanielsz of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the 2019 Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Employment Agreement), (ii) the date that is ten business days following the vesting of such restricted stock unit, (iii) the date of Mr. Nathanielsz's death or Disability (as defined in the Employment Agreement), and (iv) Mr. Nathanielsz's employment being terminated either by the Company without Cause or by Mr. Nathanielsz for Good Reason (each as defined in the Employment Agreement). In the event of a Change of Control, any unvested portion of the Nathanielsz Options and such restricted stock units shall vest immediately prior to such event. The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz's continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz's continued employment with the Company through the applicable vesting date: (i) 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the "CTA") for PRP, the Company's lead product candidate ("PRP"), for a First-In-Human study for PRP (the "Study") in an applicable jurisdiction to be selected by the Company, (ii) 7.80 of the Additional Nathanielsz RSUs shall vest upon the CTA being approved in an applicable jurisdiction, (iii) 7.80 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iv) 7.80 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested restricted stock unit shall be settled by delivery to Mr. Nathanielsz of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the 2019 Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Employment Agreement), (ii) the date that is ten business days following the vesting of such restricted stock unit, (iii) the date of Mr. Nathanielsz's death or Disability (as defined in the Employment Agreement), and (iv) Mr. Nathanielsz's employment being terminated either by the Company without Cause or by Mr. Nathanielsz for Good Reason (each as defined in the Employment Agreement). In the event of a Change of Control, any unvested portion of the Nathanielsz Options and such restricted stock units shall vest immediately prior to such event.                                    
Mr. Nathanielsz [Member] | AUD Currency [Member] | Board of Directors [Member]                                          
Officers' compensation $ 240,000   $ 460,000                                    
Bonus granted percentage 60.00%                                        
Mr. Nathanielsz [Member] | AUD Currency [Member] | Employment Agreement [Member]                                          
Annual salary     400,000                                    
Dr Kenyon [Member] | AUD Currency [Member] | Services Agreement [Member]                                          
Annual salary     $ 54,000                                    
Dr Kenyon [Member] | Services Agreement [Member]                                          
Agreement term   3 years 3 years                                    
Agreement renewal term   1 year 1 year                                    
Option purchase shares | shares   20 20                                    
Exercise price | $ / shares   $ 4,250                                      
Market price   100.00% 100.00%                                    
Option term   10 years 10 years                                    
Options vested, description   The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon's continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon's continued employment with the Company through the applicable vesting date: (i) 5 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 5 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 5 of the Additional Kenyon RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 5 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested Kenyon RSU shall be settled by delivery to Mr. Kenyon of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Services Agreement), (ii) the date that is ten business days following the vesting of such Kenyon RSU, (iii) the date of Dr. Kenyon's death or Disability (as defined in the Services Agreement), and (iv) Dr. Kenyon's employment being terminated either by the Company without Cause or by Dr. Kenyon for Good Reason (as defined in the Services Agreement). In the event of a Change of Control (as defined in the Services Agreement), 50% of any unvested portion of the Kenyon Options and the Kenyon RSUs shall vest immediately prior to such event. The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon's continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon's continued employment with the Company through the applicable vesting date: (i) 5 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 5 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 5 of the Additional Kenyon RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 5 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested Kenyon RSU shall be settled by delivery to Mr. Kenyon of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Services Agreement), (ii) the date that is ten business days following the vesting of such Kenyon RSU, (iii) the date of Dr. Kenyon's death or Disability (as defined in the Services Agreement), and (iv) Dr. Kenyon's employment being terminated either by the Company without Cause or by Dr. Kenyon for Good Reason (as defined in the Services Agreement). In the event of a Change of Control (as defined in the Services Agreement), 50% of any unvested portion of the Kenyon Options and the Kenyon RSUs shall vest immediately prior to such event.