Investors

Financials

v3.24.0.1
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Jun. 30, 2023
CURRENT ASSETS:    
Cash $ 71,650 $ 10,047
GST tax receivable 3,908 2,867
Prepaid expenses and other current assets 12,139 6,125
Refundable advance deposit 123,127
TOTAL CURRENT ASSETS 210,824 19,039
Security deposit - related party 2,044 1,999
Property and equipment, net 50 302
TOTAL ASSETS 241,907 60,328
CURRENT LIABILITIES:    
Accounts payable 1,157,691 966,718
Accrued expenses and other payables 689,594 579,707
Accrued interest 66,319 44,709
Note payable, net of discount 132,000
Convertible notes, net of discounts and including put premiums 687,650 390,539
Embedded conversion option liabilities 219,045 423,209
Employee benefit liability 624,654 587,618
TOTAL CURRENT LIABILITIES 3,762,251 3,158,229
NON-CURRENT LIABILITIES:    
TOTAL NON-CURRENT LIABILITIES 43,255 19,278
TOTAL LIABILITIES 3,805,506 3,177,507
Commitments and Contingencies (See Note 8)
STOCKHOLDERS’ DEFICIT:    
Common stock, $0.001 par value; 10,000,000,000 shares authorized; 36,169,023 and 6,031,250 shares issued and outstanding as of December 31, 2023 and June 30, 2023, respectively 36,169 6,031
Common stock issuable (0 and 1,621,653 shares as of December 31, 2023 and June 30, 2023, respectively) 1,621
Additional paid-in capital 61,018,603 60,311,502
Subscription receivable (8,822)
Accumulated other comprehensive income 1,234,070 1,294,876
Accumulated deficit (65,797,142) (64,684,732)
Treasury stock ($0.001 share) (46,477) (46,477)
TOTAL STOCKHOLDERS’ DEFICIT (3,563,599) (3,117,179)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 241,907 60,328
Series A Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock, value
Series B Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT:    
Preferred stock, value
Related Party [Member]    
CURRENT ASSETS:    
Operating lease right-of-use assets, net - related party 28,989 38,988
CURRENT LIABILITIES:    
Loan from former director - related party 16,429
Operating lease liability - related party, current portion 22,880 21,505
NON-CURRENT LIABILITIES:    
Loan payable - long-term - related party, net of discount 35,214
Operating lease liability - long-term portion - related party 8,041 19,278
Nonrelated Party [Member]    
CURRENT LIABILITIES:    
Loan from former director - related party 65,280 65,280
Former Director [Member]    
CURRENT LIABILITIES:    
Loan from former director - related party 50,416 49,314
Due to former director - related party $ 30,293 $ 29,630

Source

v3.24.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
REVENUE        
Revenue
OPERATING EXPENSES        
Administration expenses 318,185 525,620 712,013 990,752
Occupancy expenses - related party 5,857 7,506 13,006 13,879
Research and development 114,022 74,878 130,264 176,203
TOTAL OPERATING EXPENSES 438,064 608,004 855,283 1,180,834
LOSS FROM OPERATIONS (438,064) (608,004) (855,283) (1,180,834)
OTHER INCOME (EXPENSE)        
Interest expense (264,462) (98,619) (442,696) (261,371)
Interest income 16 17 33 19
Derivative expense (45,658) (123,379)
Change in fair value of derivative liabilities (1,771) 62,335 302,158 127,508
Gain from settlement of accounts payable 17,499
Gain (loss) on extinguishment of debt, net (211) 43,520 34,099 42,910
Foreign currency transaction gain (loss) 37,146 (13,988) 21,198 22,235
TOTAL OTHER INCOME (EXPENSE), NET (274,940) (6,735) (208,587) (51,200)
LOSS BEFORE TAXES (713,004) (614,739) (1,063,870) (1,232,034)
Tax benefit 128,620 129,321 128,620 129,321
NET LOSS (584,384) (485,418) (935,250) (1,102,713)
Deemed Dividend (34,585) (19,322) (177,160) (408,557)
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS $ (618,969) $ (504,740) $ (1,112,410) $ (1,511,270)
NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS - BASIC $ (0.03) $ (0.53) $ (0.06) $ (2.10)
NET LOSS PER SHARE AVAILABLE TO COMMON STOCKHOLDERS - DILUTED $ (0.03) $ (0.53) $ (0.06) $ (2.10)
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC 23,813,436 960,471 17,401,558 718,360
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED 23,813,436 960,471 17,401,558 718,360
OTHER COMPREHENSIVE INCOME (LOSS)        
Unrealized foreign currency translation gain (loss) $ (134,480) $ (107,812) $ (60,806) $ 18,584
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) (134,480) (107,812) (60,806) 18,584
TOTAL COMPREHENSIVE LOSS $ (753,449) $ (612,552) $ (1,173,216) $ (1,492,686)

Source

v3.24.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Dec. 31, 2022
Sep. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:              
Net loss $ (584,384) $ (350,866) $ (485,418) $ (617,295) $ (935,250) $ (1,102,713)  
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:              
Issuance and amortization of common stock for services         56,811  
Stock option, stock warrants and restricted stock expense         2,408  
Foreign currency transaction (gain) loss         (21,198) (22,235)  
Depreciation expense 114   422   248 895  
Amortization of debt discounts         164,904 83,903  
Amortization of right-of-use assets         10,871 10,858  
Change in fair value of derivative liabilities 1,771   (62,335)   (302,158) (127,508)  
Derivative expense 45,658     123,379  
Gain on extinguishment of debt, net 211   (43,520)   (34,099) (42,910)  
Gain from settlement of accounts payable     (17,499)  
Non-cash interest expense         1,597  
Accretion of put premium         234,615 144,711  
Changes in Assets and Liabilities:              
GST receivable         (977) (2,238)  
Prepaid expenses and other assets         (5,877) (16,724)  
Refundable advance deposit         (123,127)  
Accounts payable         169,359 9,520  
Employee benefit liability         23,897 169,268  
Accrued expenses and other payables         96,924 97,414  
Accrued interest         35,323 31,433  
Operating lease liability         (10,773) (9,936)  
NET CASH USED IN OPERATING ACTIVITIES         (572,342) (734,542)  
CASH FLOWS FROM FINANCING ACTIVITIES:              
Proceeds from convertible promissory notes, net of original issue discounts and issue costs         477,500 395,750  
Repayment of convertible note         (142,909)  
Proceeds from the sale of common stock         24,711  
Proceeds from note payable         120,000 100,000  
Proceeds from loan payable - related party         169,685  
Collection of subscription receivable         23,758  
Proceeds from the exercise of warrants         200,000  
NET CASH PROVIDED BY FINANCING ACTIVITIES         624,276 744,219  
Effect of exchange rate changes on cash         9,669 10,732  
NET INCREASE IN CASH         61,603 20,409  
CASH AT BEGINNING OF PERIOD   $ 10,047   $ 4,067 10,047 4,067 $ 4,067
CASH AT END OF PERIOD $ 71,650   $ 24,476   71,650 24,476 $ 10,047
Supplemental Disclosure of Cash Flow Information              
Interest         6,189 1,323  
Income Tax          
Supplemental Disclosure of Non-Cash Investing and Financing Activities              
Subscription receivable         8,822  
Reduction of put premium related to conversions of convertible notes         87,305 218,992  
Conversion of convertible notes and accrued interest to common stock         203,365 515,221  
Debt discounts related to derivative liability         125,000 93,668  
 Relative fair value of warrant granted in connection with a loan payable - related party         141,084  
 Warrant grant for settlement of accounts payable         37,500  
Warrants issued for accrued services         5,551  
Deemed dividend upon alternate cashless exercise of warrants         $ 177,160 $ 408,557  

Source

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