SmartMetric (SMME) 10-K 30 Sep 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2019	Sep. 05, 2019	Dec. 31, 2018
Document and Entity Information
Entity Registrant Name	SmartMetric, Inc.
Entity Central Index Key	0001301991
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	10-K
Document Period End Date	Jun. 30, 2019
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Interactive Data Current	Yes
Entity File Number	000-54853
Entity Incorporation State Country Code	NV
Entity Public Float			$ 9,698,446
Entity Common Stock, Shares Outstanding		274,465,126

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Current assets:
Cash	$ 10,161	$ 4,427
Receivables		10,400
Prepaid expenses and other current assets	6,450	8,767
Total current assets	16,611	23,594
Total assets	16,611	23,594
Current liabilities:
Accounts payable and accrued expenses	880,390	730,794
Liability for stock to be issued	147,484	103,718
Deferred Officer's salary	790,015	663,348
Related party interest payable	93,488	40,055
Dividends payable	3,123
Credit card payable	3,750
Shareholder loan	3,759	15,000
Total current liabilities	1,922,009	1,552,915
Commitments and Contingencies (Note 4 and 8)
Series C mandatory redeemable convertible preferred stock, net of discount, authorized 1,000,000 shares 121,700 and 0 shares issued and outstanding, respectively	99,278
Stockholders' deficit:
Preferred stock, $.001 par value; 5,000,000 shares authorized, 610,000 and 610,000 shares issued and outstanding	610	610
Common stock, $.001 par value; 300,000,000 shares authorized, 264,648,821 and 249,147,547 shares issued and outstanding , respectively	264,649	249,148
Additional paid-in capital	24,663,528	24,217,831
Accumulated deficit	(26,933,463)	(25,996,910)
Total stockholders' deficit	(2,004,676)	(1,529,321)
Total liabilities and stockholders' deficit	$ 16,611	$ 23,594

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Jun. 30, 2018
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	610,000	610,000
Preferred stock, outstanding	610,000	610,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	300,000,000
Common stock, issued	264,648,821	264,648,821
Common stock, outstanding	249,147,547	249,147,547
Series C mandatory redeemable convertible preferred stock
Preferred stock, authorized	1,000,000	1,000,000
Preferred stock, issued	121,700	121,700
Preferred stock, outstanding	0	0

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues
Expenses:
Officer's salary	190,000	190,000
Other general and administrative	577,756	683,329
Research and development	107,962	129,375
Total operating expenses	875,718	1,002,704
Loss from operations before other expense	(875,718)	(1,002,704)
Other expense:
Interest expense	(53,432)	(39,084)
Loss on patent impairment		(600,000)
Total other expense	(53,432)	(639,084)
Loss before income taxes	(929,150)	(1,641,788)
Provision for income taxes
Net loss	(929,150)	(1,641,788)
Preferred stock dividends	(7,401)
Net loss available for common stockholders	$ (936,551)	$ (1,641,788)
Net loss per share, basic and diluted (in dollars per share)	$ 0	$ (0.01)
Weighted average number of common shares outstanding, basic and diluted (in shares)	256,676,745	240,133,406

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (936,551)	$ (1,641,788)
Adjustments to reconcile net loss to net cash used in operating activities:
Asset impairment		600,000
Common stock issued and issuable for services		66,824
Changes in assets and liabilities
Decrease in prepaid expenses and other current assets	2,317	50,560
(Decrease) increase in accounts payable and accrued expenses	149,596	104,822
Increase in deferred officer salary	126,667	142,500
Increase (decrease) in credit card debt	3,750
Increase (decrease) in allowance for bad debt	10,400
Increase (decrease) in dividends payable	1,458
Increase in accrued interest payable	53,433	39,084
Net cash used in operating activities	(588,930)	(637,998)
CASH FLOWS FROM FINANCING ACTIVITIES
Loans from related parties	(11,241)	10,200
Proceeds from sale of common stock	507,782	580,530
Proceeds from the sale of series C preferred stock	95,000
Dividends payable	3,123
Net cash provided by financing activities	594,664	590,730
NET INCREASE (DECREASE) IN CASH	5,734	(47,268)
CASH AT BEGINNING OF YEAR	4,427	51,695
CASH AT END OF YEAR	10,161	4,427
CASH PAID DURING THE YEAR FOR:
Income taxes
Interest

Consolidated Statements of Chan

Consolidated Statements of Changes In Stockholders' (Deficit) - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Class A Common Stock	Total
Balance at Jun. 30, 2017	$ 410	$ 226,173	$ 22,778,252	$ (24,346,047)		$ (1,341,212)
Balance, (in Shares) at Jun. 30, 2017	410,000	226,172,799
Series B Preferred	$ 200		599,800	200		600,000
Series B Preferred, (in Shares)	200,000
Shares issued of common stock and warrants for services rendered		$ 1,083	65,742			66,825
Shares issued of common stock and warrants for services rendered (in shares)		1,083,948
Shares issued of common stock and warrants for cash		$ 21,892	774,037			795,929
Shares issued of common stock and warrants for cash (in shares)		21,891,800
To adjust for prior period expense				(9,075)		(9,075)
Net loss for the period				(1,641,788)		(1,641,788)
Balance at Jun. 30, 2018	$ 610	$ 249,148	24,217,831	(25,996,910)		(1,529,321)
Balance, (in Shares) at Jun. 30, 2018	610,000	249,147,547
Shares issued of common stock and warrants for cash		$ 15,501	445,697			461,198
Shares issued of common stock and warrants for cash (in shares)		15,501,274
Dividends				(7,401)		(7,401)
Net loss for the period				(929,150)		(929,150)
Balance at Jun. 30, 2019	$ 610	$ 264,649	$ 24,663,528	$ (26,933,461)		$ (2,004,676)
Balance, (in Shares) at Jun. 30, 2019	610,000	264,648,821

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION SmartMetric, Inc. (the "Company" or "SmartMetric") was incorporated in the State of Nevada on December 18, 2002. SmartMetric's main product is a fingerprint sensor-activated card with a finger sensor onboard the card and a built-in rechargeable battery for portable biometric identification. This card may be referred to as a biometric card or the SmartMetric Biometric Datacard. SmartMetric has completed development of its card along with pre-mass manufacturing cards but has not yet begun to mass manufacture the biometric fingerprint activated cards. Basis of Presentation The financial statements present the balance sheets, statements of operations, stockholder's equity (deficit) and cash flows of the Company. The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company has adopted June 30 as its fiscal year end. Going Concern As shown in the accompanying consolidated financial statements the Company has incurred recurring losses of $936,551 and $1,641,788 for the years ended June 30, 2019 and 2018, respectively, and has incurred a cumulative loss of $26,933,463 since inception (December 18, 2002). The Company is currently in the development stage and has spent a substantial portion of its time in the development of its technology . There are no assurances that the Company will be able to achieve the level of revenues adequate to generate a sufficient cash flow from operations to support the Company's working capital requirements. To the extent that funds generated are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available, the Company may not continue its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management believes that the Company's capital requirements will depend on many factors. These factors include product marketing and distribution. The management plans include equity sales and borrowing in order to fund the operations .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Recent Accounting Pronouncements From time to time, the FASB or other standards setting bodies issue new accounting pronouncements. Updates to the FASB ASCs are communicated through issuance of an Accounting Standards Update ("ASU"). Unless otherwise discussed, we believe that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on our consolidated financial statements upon adoption. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, SmartMetric Australia Pty. Ltd. All significant intercompany accounts and transactions have been eliminated in consolidation. Fair Value of Financial Instruments The carrying amounts reflected in the balance sheets for cash, accounts payable and related party payables approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale. As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The three levels of the fair value hierarchy are described below: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The Company at present does not have any Level 2 or Level 3 fair value instruments. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to income taxes and contingencies. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Cash The Company considers all highly liquid debt instruments and other short-term investments with an initial maturity of three months or less to be cash equivalents. Any amounts of cash in financial institutions which exceed FDIC insured limits exposes the Company to cash concentration risk. The Company had no cash equivalents at June 30, 2019 and 2018. Research and Development The Company annually incurs costs on activities that relate to research and development of new technology and products. Research and development costs are expensed as incurred . Revenue Recognition The Company has not recognized revenues to date. Therefore, the Company has not yet adopted a revenue recognition policy. Accounts Receivable The Company will extend credit based on its evaluation of the customers' financial condition, generally without requiring collateral. Exposure to losses on receivables is expected to vary by customer due to the financial condition of each customer. The Company will monitor exposure to credit losses and maintains allowances for anticipated losses considered necessary under the circumstances. The Company has not recorded any receivables, and therefore no allowance for doubtful accounts. Uncertainty in Income Taxes GAAP requires the recognition and measurement of uncertain income tax positions using a "more-likely-than-not" approach. Management evaluates Company tax positions on an annual basis and has determined that as of June 30, 2019 and 2018, no accrual for uncertain income tax positions is necessary. Loss Per Share of Common Stock In accordance with FASB ASC 260, "Earnings Per Share," the basic loss per share is computed by dividing the loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Basic net loss per share excludes the dilutive effect of stock options or warrants and convertible notes. Diluted net earnings (loss) per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents, consisting of shares that might be issued upon exercise of common stock options and warrants. In periods where losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive. As of June 30, 2019, and 2018, respectively, 26,526,234 and 14,842,583 dilutive shares were excluded from the calculation of diluted loss per common share. Patent Impairment When the carrying balance of the Company's patent is more than what it could be sold for on the open market and/or is not recoverable through future use, the Company decreases its value. In determining whether the carrying value is not recoverable, the Company estimates the sum of the expected cash flows from the use of the patent or its possible sale. If the results in an amount less that the patent's value on the financial statements, the Company will deem the patent's carrying value on the balance sheet to be impaired by the amount that the carrying value exceeds the fair market value of the asset. The decrease in the patent's value will then be included as a loss in the Company's profit and loss statement. The Company recorded no loss from patent impairment during the year ended June 30, 2019. During the year ended June 30, 2018, the Company recorded a loss of $600,000 related to the patent impairment.

Prepaid Expenses

Prepaid Expenses	12 Months Ended
	Jun. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES	NOTE 3 - PREPAID EXPENSES Prepaid expenses represent the unexpired terms of any consulting agreements, as well as advance rental payments. All consulting agreements are entered into for the issuance of common stock and warrants and are valued based on the stock price or computed warrant value at the time of the respective agreement.

Commitments

Commitments	12 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	NOTE 4 - COMMITMENTS Lease Agreement The Company utilizes office in Las Vegas, NV on a short-term lease basis. The Company's main office is located in Las Vegas, NV. Rent expense for the years ended June 30, 2019 and 2018 was $12,522 and $30,947, respectively. The Company adopted ASC 842 on January 1, 2019 and evaluated to conclude that it has no impact on the financial statements, as under the practical expedient, the lease consists of terms less than one year, and therefore is not required to be capitalized. Related Party Transactions The Company's Chief Executive Officer has made cash advances to the Company with an aggregate amount due of $3,759 and $15,000 as of June 30, 2019 and 2018, respectively. These advances bear interest at 7.00% per annum. As of June 30, 2019 and June 30, 2018, the Company has accrued the amounts of $790,015 and $663,348, respectively, as deferred Officer's salary for the difference between the president's annual salary and the amounts paid.

Stockholders' Deficit

Stockholders' Deficit	12 Months Ended
	Jun. 30, 2019
Equity [Abstract]
STOCKHOLDERS' DEFICIT	NOTE 5 - STOCKHOLDERS' DEFICIT Preferred Stock As of June 30, 2019, the Company has 5,000,000 shares of preferred stock, par value $0.001, authorized and 610,000 shares issued and outstanding. On December 11, 2009, the Company filed a Certificate of Designation with the State of Nevada, to designate 500,000 shares of the preferred stock to be designated as Series B Convertible Preferred Stock ("Series B Convertible Preferred Stock"). Each share of Series B Convertible Preferred Stock has a par value of $0.001, and a stated value equal to $5.00 ("Stated Value"). Holders of the Series B Convertible Preferred Stock are entitled to receive dividends or other distributions with the holders of the common stock of the Company on an as converted basis when, as, and if declared by the directors of the Company. Holders of the Series B Convertible Preferred Stock are entitled to convert all or any one (1) share of the Series B Convertible Preferred Stock into fifty (50) shares of common stock. Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary ("liquidation"), holders of the Series B Convertible Preferred Stock are entitled to receive out of the assets, whether capital or surplus, of the Company an amount equal to the Stated Value, pro rata with the holders of the common stock. On September 11, 2017, the Company issued 200,000 shares of Series B preferred shares to its CEO, Chaya Hendrick, in consideration for grant of exclusive rights to the licensed patent. Class A Common Stock As of June 30, 2019, the Company has 50,000,000 shares of Class A common stock, par value $0.001, authorized and no shares issued and outstanding. Common Stock and Warrants During the three months ended to September 30, 2017, the Company sold for cash 2,500,000 shares of common stock and warrants to purchase (i) 1,437,500 shares at $0.70 and $0.20 per share and (ii) 724,500 shares at $1.00 and $0.50 per share, for net proceeds of $114,625. During the three months ended September 30, 2017, the Company issued 362,864 shares of common stock for consulting services valued at $21,825, based on the stock price at the time of the respective agreements underlying the services provided. During the three months ended December 31, 2017, the Company sold for cash 8,319,000 shares of common stock and warrants to purchase: (i) 3,250,000 shares at $0.20 per share and (ii) 1,638,000 shares at $0.50 per share, for net proceeds of $259,362. The warrants expire at various times through December 29, 2019. During the three months ended December 31, 2017, the Company issued 212,164 shares of common stock for consulting services valued at $15,000 based on the stock price at the time of the respective agreements underlying the services provided. During the three months ended March 31, 2018, the Company sold for cash 2,850,000 shares of common stock and warrants to purchase: (i) 2,051,250 shares at $0.70 per share and (ii) 929,250 shares at $1.00 per share, for net proceeds of $142,305. The warrants expire at various times through February 21, 2020. None of the 2,850,000 shares were issued as of March 31, 2018. During the three months ended March 31, 2018, the Company issued 508,620 shares of common stock for consulting services valued at $30,000, based on the stock price at the time of the respective agreements underlying the services provided. These shares were issued on February 26, 2018. During the three months ended June 30, 2018, the Company sold for cash 2,646,100 shares of common stock and warrants to purchase: (i) 1,536,625 shares at $0.70 per share and (ii) 774,459 shares at $1.00 per share, for net proceeds of $119,738. The warrants expire at various times through June 15, 2020. During the three months ended June 30, 2018, the Company issued zero shares of common stock for consulting services. During the three months ended September 30, 2018, the Company sold for cash 4,624,153 shares of common stock for net proceeds of $145,770 and warrants to purchase (i) 3,699,988 shares at $0.25, (ii) 60,000 shares at $0.30, (iii) 30,000 shares at $0.50, (iv) 301,875 shares at $0.70 and (v) 152,210 shares at $1.00. During the three months ended December 31, 2018, the Company sold for cash 5,212,499 shares of common stock and warrants to purchase: (i) 3,712,499 shares at $0.25 per share and (ii) 1,500,000 shares at $0.50 per share, for net proceeds of $106,060. The warrants expire at various times through December 4, 2020. During the three months ended March 31, 2019, the Company sold for cash 7,541,663 shares of common stock and warrants to purchase: (i) 7,541,663 shares at prices ranging from $0.05 per share to $0.50 per share for net proceeds of $165,749. The warrants expire at various times through March 21, 2021. During the three months ended June 30, 2019, the Company sold for cash 1,740,000 shares of common stock and warrants to purchase: (i) 1,740,000 shares at a price of $0.05 per share for net proceeds of $86,934. The warrants expire at various times through June 10, 2021. During the year ended June 30, 2018, the Company issued a total of 21,891,800 shares of common stock for cash totaling $759,929. In addition, the Company sold common shares, which have not yet been issued as June 30, 2018 and are considered stock payable in the amount of $103,718. During the year ended June 30, 2019, the Company issued a total of 15,501,274 shares of common stock for cash totaling $461,198. In addition, the Company sold common shares, which have not yet been issued as June 30, 2019 and are considered stock payable in the amount of $147,484. The common shares issued for services was 0, and 1,083,948, as of June 30, 2019 and 2018, respectively. The following information summarizes the warrants outstanding and exercisable. Warrants Outstanding and Exercisable at June 30, 2019: Range of Exercise Prices Number of Warrants Outstanding Weighted-Average Contractual Life Remining in Years Weighted-Average Exercise Price Number Exercisable Weighted-Average Exercise Price $0.05 - $1.00 26,526,234 1.120 $ 0.33 26,526,234 $ 0.33 Warrants Outstanding and Exercisable at September 30, 2018: $0.20 - $1.00 14,842,583 0.527 $ 0.53 14,842,583 $ 0.53 Warrant Activity: As of June 30, 2019 and 2018, the following is a breakdown of the activity: June 30, 2019: Outstanding - beginning of year 14,842,583 Issued 18,738,235 Exercised — Expired (7,054,584 ) Outstanding - end of year 26,526,234 June 30, 2018: Outstanding - beginning of year 20,276,399 Issued 12,341,584 Exercised — Expired (17,775,400 ) Outstanding - end of year 14,842,583 At June 30, 2019, all of the 26,526,234 warrants are vested, 23,226,234 warrants expire at various times through July 2020, 3,000,000 warrants expire in September 2019, and 300,000 warrants expire in July 2020.

Mandatory Redeemable Convertibl

Mandatory Redeemable Convertible Preferred Stock	12 Months Ended
	Jun. 30, 2019
Mandatory Redeemable Convertible Preferred Stock [Abstract]
MANDATORY REDEEMABLE CONVERTIBLE PREFERRED STOCK	NOTE 6 MANDATORY REDEEMABLE CONVERTIBLE PREFERRED STOCK Issuances of Series C Mandatory Redeemable Convertible Preferred Stock On January 10, 2019, the Board of Directors of the Company adopted a resolution pursuant to the Company's Certificate of Incorporation, as amended, providing for the designations, preferences and relative, participating, optional and other rights, and the qualifications, limitations and restrictions, of the Series C Convertible Preferred Stock. On January 14, 2019, the Company filed a Certificate of Designations for a Series C Convertible Preferred Stock. The authorized number of Series C Convertible Preferred Stock is 1,000,000 shares, par value 0.001. The Series C Preferred Stock will, with respect to dividend rights and rights upon liquidation, winding-up or dissolution, rank: (a) senior with respect to dividends and right of The Holder shall have the right at any time during the period beginning on the date which is six (6) months following the Issuance Date, to convert all or any part of the outstanding Series C Preferred Stock into fully paid and non-assessable shares of Common Stock at the Variable Conversion Price. The "Variable Conversion Price" shall mean 71% multiplied by the Market Price (representing a discount rate of 29%). "Market Price" means the average of the two (2) lowest Trading Prices (as defined here) for the Common Stock during the fifteen (15) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. On the date which is eighteen (18) months following the Issuance Date or upon the occurrence of an Event of Default (the "Mandatory Redemption Date"), the Company shall redeem all of the shares of Series C Preferred Stock of the Holder (which have not been previously redeemed or converted). With five (5) days of the Mandatory Redemption Date, the Company shall make payment to each Holder of an amount in cash equal to the total number of shares of Series C Preferred Stock held by such Holder multiplied by the then current Stated Value. All shares of mandatorily redeemable convertible preferred stock have been presented outside of permanent equity in accordance with ASC 480, Classification and Measurement of Redeemable Securities The estimated fair value of the Series C, mandatory redeemable convertible preferred stock at June 30, 2019 and 2018 was $110,000 and $0, respectively. The Company recorded preferred stock dividends of $7,401 during fiscal year 2019, and accrued dividends payable of $3,123.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7 - INCOME TAXES Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Company's assets and liabilities. Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Company's tax return. Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. The Company recognizes interest and penalties related to income tax matters as a component of income tax expense. At June 30, 2019 and 2018, deferred tax assets consist of the following: 2019 2018 Net operating loss carryforward $ 7,972,161 $ 6,958,336 Warrant issuances — — Deferred officer compensation 790,015 225,538 Other 371 644 Valuation allowance (8,762,547 ) (7,184,518 ) $ — $ — At June 30, 2019, the Company had a net operating loss carry-forwards in the amount of approximately $21.0 million available to offset future taxable income through 2036, which will begin to expire in 2021. The Company established valuation allowances equal to the full amount of the deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods. A reconciliation of the Company's effective tax rate as a percentage of income before taxes and federal statutory rate for the period ended June 30, 2019 and 2018 is summarized as follows: 2019 2018 Tax on income before income tax 21.00 % 34.00 % Effect of non-temporary differences (0.01 )% (0.07 )% Effect of prior year items — % — % Effect of temporary differences — % — % Change in valuation allowance (20.99 )% (33.90 )% 0.00 % 0.00 % The total amount of unrecognized tax benefits can change due to tax examination activities, lapse of applicable statutes of limitations and the recognition and measurement criteria under the guidance related to accounting for uncertainty in income taxes. The Company does not believe any significant increases or decreases will occur within the next twelve months. The Company files income tax returns in the United States ("U.S.") federal jurisdiction. Generally, the Company is no longer subject to U.S. federal examinations by tax authorities for fiscal years prior to 2015. The Company does not file in any other jurisdiction and remains open for audit for all tax years as the statute of limitations does not begin until the returns are filed.

Litigation

Litigation	12 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	NOTE 8 - LITIGATION From time to time we may be a defendant or plaintiff in various legal proceedings arising in the normal course of our business. We know of no material, active, pending or threatened proceeding against us or our subsidiaries, nor are we, or any subsidiary, involved as a plaintiff or defendant in any material proceeding or pending litigation.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 - SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to June 30, 2019 to the date these financial statements were issued. Subsequent to June 30, 2019, the Company sold 52,800 shares of Series C Preferred Stock on August 26, 2019 for gross proceeds of $48,000. Subsequent to June 30, 2019, the Company issued 11,216,305 common shares, all of which were for stock payable existing as of year end. These shares had a cash value of $226,000.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, the FASB or other standards setting bodies issue new accounting pronouncements. Updates to the FASB ASCs are communicated through issuance of an Accounting Standards Update ("ASU"). Unless otherwise discussed, we believe that the impact of recently issued guidance, whether adopted or to be adopted in the future, is not expected to have a material impact on our consolidated financial statements upon adoption.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, SmartMetric Australia Pty. Ltd. All significant intercompany accounts and transactions have been eliminated in consolidation.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts reflected in the balance sheets for cash, accounts payable and related party payables approximate the respective fair values due to the short maturities of these items. The Company does not hold any investments that are available-for-sale. As required by the Fair Value Measurements and Disclosures Topic of the FASB ASC, fair value is measured based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The three levels of the fair value hierarchy are described below: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The Company at present does not have any Level 2 or Level 3 fair value instruments.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including, but not limited to, those related to income taxes and contingencies. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.
Cash	Cash The Company considers all highly liquid debt instruments and other short-term investments with an initial maturity of three months or less to be cash equivalents. Any amounts of cash in financial institutions which exceed FDIC insured limits exposes the Company to cash concentration risk. The Company had no cash equivalents at June 30, 2019 and 2018.
Research and Development	Research and Development The Company annually incurs costs on activities that relate to research and development of new technology and products. Research and development costs are expensed as incurred .
Revenue Recognition	Revenue Recognition The Company has not recognized revenues to date. Therefore, the Company has not yet adopted a revenue recognition policy.
Accounts Receivable	Accounts Receivable The Company will extend credit based on its evaluation of the customers' financial condition, generally without requiring collateral. Exposure to losses on receivables is expected to vary by customer due to the financial condition of each customer. The Company will monitor exposure to credit losses and maintains allowances for anticipated losses considered necessary under the circumstances. The Company has not recorded any receivables, and therefore no allowance for doubtful accounts.
Uncertainty in Income Taxes	Uncertainty in Income Taxes GAAP requires the recognition and measurement of uncertain income tax positions using a "more-likely-than-not" approach. Management evaluates Company tax positions on an annual basis and has determined that as of June 30, 2019 and 2018, no accrual for uncertain income tax positions is necessary.
Loss Per Share of Common Stock	Loss Per Share of Common Stock In accordance with FASB ASC 260, "Earnings Per Share," the basic loss per share is computed by dividing the loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Basic net loss per share excludes the dilutive effect of stock options or warrants and convertible notes. Diluted net earnings (loss) per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents, consisting of shares that might be issued upon exercise of common stock options and warrants. In periods where losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive. As of June 30, 2019, and 2018, respectively, 26,526,234 and 14,842,583 dilutive shares were excluded from the calculation of diluted loss per common share.
Patent Impairment	Patent Impairment When the carrying balance of the Company's patent is more than what it could be sold for on the open market and/or is not recoverable through future use, the Company decreases its value. In determining whether the carrying value is not recoverable, the Company estimates the sum of the expected cash flows from the use of the patent or its possible sale. If the results in an amount less that the patent's value on the financial statements, the Company will deem the patent's carrying value on the balance sheet to be impaired by the amount that the carrying value exceeds the fair market value of the asset. The decrease in the patent's value will then be included as a loss in the Company's profit and loss statement. The Company recorded no loss from patent impairment during the year ended June 30, 2019. During the year ended June 30, 2018, the Company recorded a loss of $600,000 related to the patent impairment.

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	12 Months Ended
	Jun. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of share based compensation warrant activity	June 30, 2019: Outstanding - beginning of year 14,842,583 Issued 18,738,235 Exercised — Expired (7,054,584 ) Outstanding - end of year 26,526,234 June 30, 2018: Outstanding - beginning of year 20,276,399 Issued 12,341,584 Exercised — Expired (17,775,400 ) Outstanding - end of year 14,842,583

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	2019 2018 Net operating loss carryforward $ 6,958,336 $ 6,958,336 Warrant issuances — — Deferred officer compensation 225,538 225,538 Other 644 644 Valuation allowance (7,184,518 ) (7,184,518 ) $ — $ —
Schedule of effective income tax rate reconciliation	2019 2018 Tax on income before income tax 34.00 % 34.00 % Effect of non-temporary differences (0.07 )% (0.07 )% Effect of prior year items — % — % Effect of temporary differences — % — % Change in valuation allowance (33.90 )% (33.90 )% 0.00 % 0.00 %

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 18, 2002
Organization and Basis of Presentation (Textual)
Net loss	$ (929,150)	$ (1,641,788)
Cumulative loss	$ (26,933,463)	$ (25,996,910)	$ 26,933,463

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Summary of Significant Accounting Policies (Textual)
Dilutive shares were excluded from diluted loss per common share	26,526,234	14,842,583
Loss on patent impairment		$ 600,000

Commitments (Details)

Commitments (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Commitments (Textual)
Rent expense	$ 12,522	$ 30,947
Deferred compensation liability	790,015	663,348
Chief Executive Officer [Member]
Commitments (Textual)
Cash advances from related party	$ 3,759	$ 15,000
Interest rate	7.00%

Stockholders' Deficit (Details)

Stockholders' Deficit (Details) - Warrant [Member] - shares	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding - beginning of year	14,842,583	20,276,399
Issued	18,738,235	12,341,584
Exercised
Expired	(7,054,584)	(17,775,400)
Outstanding - end of year	26,526,234	14,842,583

Shareholders' Deficit (Details

Shareholders' Deficit (Details 1) - Warrant [Member] - $ / shares	1 Months Ended	12 Months Ended
	Sep. 30, 2018	Jun. 30, 2019
$0.05 - $1.00 [Member]
Warrants Outstanding and Exercisable
Number of Warrants Outstanding		26,526,234
Weighted-Average Contractual Life Remining in Years		1 year 14 months 12 days
Weighted-average exercise price		$ 0.33
Number Exercisable		26,526,234
$0.05 - $1.00 [Member] | Minimum [Member]
Warrants Outstanding and Exercisable
Exercise Price		$ 0.05
$0.05 - $1.00 [Member] | Maximum [Member]
Warrants Outstanding and Exercisable
Exercise Price		$ 1
$0.20 - $1.00 [Member]
Warrants Outstanding and Exercisable
Number of Warrants Outstanding	14,842,583
Weighted-Average Contractual Life Remining in Years	63 months 8 days
Weighted-average exercise price	$ 0.53
Number Exercisable	14,842,583
$0.20 - $1.00 [Member] | Minimum [Member]
Warrants Outstanding and Exercisable
Exercise Price	$ 0.20
$0.20 - $1.00 [Member] | Maximum [Member]
Warrants Outstanding and Exercisable
Exercise Price	$ 1

Stockholders' Deficit (Details

Stockholders' Deficit (Details Textual) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended								12 Months Ended
	Sep. 30, 2013	Sep. 11, 2017	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2016	Jun. 30, 2017	Jun. 08, 2016	Apr. 30, 2016	Dec. 11, 2009
Preferred stock, shares authorized			5,000,000				5,000,000				5,000,000	5,000,000
Preferred stock, par value (in dollars per share)			$ 0.001				$ 0.001				$ 0.001	$ 0.001
Preferred stock, shares issued			610,000				610,000				610,000	610,000
Preferred stock, outstanding			610,000				610,000				610,000	610,000
Description of conversion of stock								None of the 2,850,000 shares were issued as of March 31, 2018
Common stock, shares authorized			300,000,000								300,000,000
Common stock, par value (in dollars per share)			$ 0.001				$ 0.001				$ 0.001	$ 0.001
Common stock, shares issued			264,648,821				264,648,821				264,648,821	264,648,821
Common stock, shares outstanding			249,147,547				249,147,547				249,147,547	249,147,547
Proceeds from sale of common stock			$ 86,934	$ 165,749	$ 106,060	$ 145,770	$ 119,738	$ 142,305	$ 259,362	$ 114,625	$ 507,782	$ 580,530
Common stock issued for services											0	1,083,948
Conversion of preferred stock into common stock													50,000,000
Warrant expiration date			Jun. 10, 2021	Mar. 21, 2021	Dec. 4, 2020		Jun. 15, 2020	Feb. 21, 2020	Dec. 29, 2019
Common stock issued cash value			$ 1,740,000	$ 7,541,663	$ 5,212,499	$ 4,624,153	$ 2,646,100	$ 2,850,000	$ 8,319,000	2,500,000	$ 461,198	$ 795,929
Consultant [Member]
Number of shares issued for services							0	508,620	212,164
Common stock issued for services							$ 0	$ 30,000	$ 15,000	$ 21,825
Warrant [Member]
Number of warrant vested			26,526,234				14,842,583				26,526,234	14,842,583		20,276,399
Warrant Expired through July 2020 [Member]
Number of warrants expired											23,226,234
Warrant Expired through September 2019 [Member]
Number of warrants expired											3,000,000
Warrant Expired on July 2020 [Member]
Number of warrants expired											300,000
Warrant One [Member]
Number of securities			1,536,625		3,712,499	3,699,988		2,051,250	3,250,000	1,437,500	1,536,625					1,000,000
Exercise price of warrants			$ 0.70		$ 0.25	$ 0.25		$ 0.70	$ 0.20		$ 0.70					$ 0.03
Warrant One [Member] | Minimum [Member]
Exercise price of warrants				$ 0.05						$ 0.20
Stock price per share																0.03
Warrant One [Member] | Maximum [Member]
Exercise price of warrants				$ 0.50						$ 0.70
Stock price per share																0.10
Warrant Two [Member]
Number of securities			774,459	1,740,000	1,500,000	60,000		929,250	1,638,000	724,500	774,459
Exercise price of warrants			$ 1	$ 0.05	$ 0.50	$ 0.30		$ 1	$ 0.50		$ 1
Warrant Two [Member] | Minimum [Member]
Exercise price of warrants										$ 0.50
Stock price per share																0.08
Warrant Two [Member] | Maximum [Member]
Exercise price of warrants										$ 1
Stock price per share																$ 0.09
Warrant Three [Member]
Number of securities						30,000										2,000,000
Exercise price of warrants						$ 0.50										$ 0.08
Warrant Four [Member]
Number of securities						301,875
Exercise price of warrants						$ 0.70
Warrant Five [Member]
Number of securities						152,210
Exercise price of warrants						$ 1
Series B Convertible Preferred Stock [Member]
Preferred stock, shares authorized																	500,000
Preferred stock, par value (in dollars per share)																	$ 0.001
Preferred stock, Stated Value Per Share																	$ 5
Series B Convertible Preferred Stock [Member] | Chaya Hendrick [Member]
Common stock issued cash value		$ 200,000
Series B Convertible Preferred Stock [Member] | Applied Cryptography, Inc [Member]
Common stock issued cash value	$ 200,000
Class A Common Stock [Member]
Number of shares issued
Common stock, shares authorized			50,000,000								50,000,000
Common stock, par value (in dollars per share)			$ 0.001								$ 0.001
Common stock issued cash value
Common Stock [Member]
Number of shares issued											15,501,274	21,891,800
Common stock, shares authorized															300,000,000
Common stock, shares issued													249,147,547
Common stock, shares outstanding													249,147,547
Common stock issued cash value											$ 461,198	$ 759,929
Additional Stocks payable											$ 147,484	$ 103,718

Mandatory Redeemable Converti_2

Mandatory Redeemable Convertible Preferred Stock (Details) - USD ($)	Jan. 14, 2019	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Preferred stock, authorized			5,000,000	5,000,000
Preferred stock, par value			$ 0.001	$ 0.001
Description of conversion of stock		None of the 2,850,000 shares were issued as of March 31, 2018
Preferred stock dividends			$ 7,401
Accrued dividends payable			3,123
Series C mandatory redeemable convertible preferred stock [Member]
Fair value of convertible preferred stock			$ 110,000	$ 0
Preferred stock, authorized	1,000,000
Preferred stock, par value	$ 0.001
Dividend percent	10.00%
Description of conversion of stock			The Holder shall have the right at any time during the period beginning on the date which is six (6) months following the Issuance Date, to convert all or any part of the outstanding Series C Preferred Stock into fully paid and non-assessable shares of Common Stock at the Variable Conversion Price. The “Variable Conversion Price” shall mean 71% multiplied by the Market Price (representing a discount rate of 29%). “Market Price” means the average of the two (2) lowest Trading Prices (as defined here) for the Common Stock during the fifteen (15) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date.
Series C mandatory redeemable convertible preferred stock [Member] | Minimum [Member]
Dividend percent	105.00%
Series C mandatory redeemable convertible preferred stock [Member] | Maximum [Member]
Dividend percent	130.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ 7,972,161	$ 6,958,336
Warrant issuances
Deferred officer compensation	790,015	225,538
Other	371	644
Valuation allowance	(8,762,547)	(7,184,518)
Deferred Tax Assets, Net

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Tax on income before income tax	21.00%	34.00%
Effect of non-temporary differences	(0.01%)	(0.07%)
Effect of prior year items
Effect of temporary differences
Change in valuation allowance	(20.99%)	(33.90%)
Effective Income Tax Rate Reconciliation, Percent	0.00%	0.00%

Income Taxes (Details Textual)

Income Taxes (Details Textual)	12 Months Ended
	Jun. 30, 2019USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 21,000,000
Operating loss carryforwards, limitations on use	The Company had a net operating loss carry-forwards in the amount of approximately $21.0 million available to offset future taxable income through 2036, which will begin to expire in 2021.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 26, 2019	Jun. 30, 2019	Jun. 30, 2018
Preferred stock, issued		610,000	610,000
Subsequent events, description		The Company issued 11,216,305 common shares, all of which were for stock payable existing as of year end. These shares had a cash value of $226,000.
Subsequent Event [Member] | Series C Preferred Stock [Member]
Preferred stock, issued	52,800
Proceeds gross	$ 48,000