Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Jun. 30, 2021
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
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:    
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
Series A Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
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 5,000 5,000
Series B Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
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