SmartMetric (SMME) 10-K 13 Oct 17 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2017	Sep. 27, 2017	Dec. 29, 2016
Document And Entity Information
Entity Registrant Name	SmartMetric, Inc.
Entity Central Index Key	1,301,991
Document Type	10-K
Trading Symbol	SMME
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 9,845,641.47
Entity Common Stock, Shares Outstanding		234,795,663
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Current assets:
Cash	$ 51,695	$ 138,823
Receivables	10,400
Prepaid expenses and other current assets	59,327	14,417
Total current assets	121,422	153,240
Other assets:
Total assets	121,422	153,240
Current liabilities:
Accounts payable and accrued expenses	616,897	656,587
Liability for stock to be issued	319,118	1,206,268
Deferred Officer salary	520,848	394,181
Accrued interest payable	971
Shareholder loan	4,800	22,300
Total current liabilities	1,462,634	2,279,336
Commitments and contingencies
Stockholders' deficit:
Preferred stock, $.001 par value; 5,000,000 shares authorized, 410,000 and 410,000 shares issued and outstanding	410	410
Common stock, $.001 par value; 300,000,000 shares authorized, 226,172,799 and 203,735,166 shares issued and outstanding, respectively	226,173	203,735
Additional paid-in capital	22,778,252	20,924,635
Accumulated deficit	(24,346,047)	(23,254,876)
Total stockholders' deficit	(1,341,212)	(2,126,096)
Total liabilities and stockholders' deficit	$ 121,422	$ 153,240

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Jun. 30, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	410,000	410,000
Preferred stock, outstanding	410,000	410,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	300,000,000	300,000,000
Common stock, issued	226,172,799	203,735,166
Common stock, outstanding	226,172,799	203,735,166

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Revenues
Expenses:
Officer's salary	190,000	190,000
Other general and administrative	772,962	1,860,583
Research and development	196,454	176,741
Total operating expenses	1,159,416	2,227,324
Loss from operations before income taxes	(1,159,416)	(2,227,324)
Gain on accounts payable settlement	74,296
Interest expense	(971)
Income taxes
Net loss	$ (1,086,091)	$ (2,227,324)
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)	217,274,788	192,882,517

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,086,091)	$ (2,227,324)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock and warrants issued and issuable for services	185,525	1,019,069
Changes in assets and liabilities
Increase in prepaid expenses and other current assets	(55,310)	70,000
Decrease in advances to shareholder	(17,500)	8,340
(Decrease) increase in accounts payable and accrued expenses	(39,690)	216,760
Increase in deferred officer's salary	126,667	126,666
Increase in accrued interest payable	972
Net cash used in operating activities	(885,427)	(786,489)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock	798,299	961,665
Liability for stock to be issued		(80,869)
Net cash provided by financing activities	798,299	880,796
NET (DECREASE) IN CASH	(87,128)	94,307
CASH BEGINNING OF YEAR	138,823	44,516
CASH END OF YEAR	51,695	138,823
Interest
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Issuance of preferred stock and reduction of additional paid in capital for patent
Conversion of Series B Convertible Preferred Stock to Common Stock

Consolidated Statements of Chan

Consolidated Statements of Changes In Stockholders' Equity (Deficit) - USD ($)	Preferred Stock [Member]	Class A Common Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Jun. 30, 2015	$ 410		$ 186,408	$ 19,865,824	$ (21,027,553)	$ (974,911)
Balance, (in Shares) at Jun. 30, 2015	410,000		186,407,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued of common stock and warrants for services rendered			$ 1,044	103,570		104,614
Shares issued of common stock and warrants for services rendered (in shares)			1,044,520
Shares issued of common stock and warrants for cash			$ 16,283	955,241		971,524
Shares issued of common stock and warrants for cash (in shares)			16,282,832
Net loss for the period					(2,227,324)	(2,227,324)
Balance at Jun. 30, 2016	$ 410		$ 203,735	20,924,635	(23,254,876)	(2,126,096)
Balance, (in Shares) at Jun. 30, 2016	410,000		203,735,166
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued of common stock and warrants for services rendered			$ 9,352	1,200,802		1,210,154
Shares issued of common stock and warrants for services rendered (in shares)			9,352,633
Shares issued of common stock and warrants for cash			$ 13,085	652,815		665,900
Shares issued of common stock and warrants for cash (in shares)			13,085,000
To adjust for prior year expense					(5,080)
Net loss for the period					(1,086,091)	(1,086,091)
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

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
	Jun. 30, 2017
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. Going Concern As shown in the accompanying consolidated financial statements the Company has incurred recurring losses of $1,086,091 and $2,227,324 for the years ended June 30, 2017 and 2016 respectively, and has incurred a cumulative loss of $24,346,047 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 is no guarantee that the Company will be able to raise enough capital or generate revenues to sustain its operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management believes that the Company’s capital requirements will depend on many factors. These factors include the final phase of development and mass production being successful as well as product implementation and distribution. The consolidated financial statements do not include any adjustments relating to the carrying amounts of recorded assets or the carrying amounts and classification of recorded liabilities that may be required should the Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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. 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 and Cash Equivalents 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, 2017 and 2016. 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. The Company anticipates recognizing revenue in accordance with the contracts it enters into for the sale and distribution of its products. 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, 2017 no accrual for uncertain income tax positions is necessary. Advertising Costs The Company expenses advertising costs as incurred. Loss Per Share of Common Stock Basic net loss per common share is computed using the weighted average number of common shares outstanding. The calculation of diluted earnings per share (“EPS”) includes consideration of dilution arising from common stock equivalents, such as stock issuable pursuant to the exercise of stock options and warrants. Common stock equivalents were not included in the computation of diluted earnings per share on the consolidated statement of operations due to the fact that the Company reported a net loss and to do so would be anti-dilutive for the periods presented. Stock-Based Compensation The Company measures expense for issuances of stock-based compensation to employees and others at fair value of the stock and warrants issued, as this is more reliable than the fair value of the services received. The fair value is measured at the value of the Company’s common stock on the date that the commitment for performance by the counterparty has been reached or the counterparty’s performance obligation is complete. The fair value of the equity instrument is charged directly to compensation expense and additional paid-in capital.

PREPAID EXPENSES

PREPAID EXPENSES	12 Months Ended
	Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES	NOTE 3 - PREPAID EXPENSES Prepaid expenses represent the unexpired terms of various consulting agreements and expire through June 2017, as well as advance rental payments. These consulting agreements were entered into for the issuance of common stock and warrants and were valued based on the stock price or computed warrant value at the time of the respective agreement.

COMMITMENTS

COMMITMENTS	12 Months Ended
	Jun. 30, 2017
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, 2017 and 2016 was $35,880 and $33,689, respectively. Related Party Transactions The Company’s Chief Executive Officer has made cash advances to the Company with an aggregate amount due of $4,800 and $22,300 as of June 30, 2017 and 2016, respectively. These advances bear interest at 5.00% per annum. As of June 30, 2017 and June 30, 2016, the Company has accrued the amounts of $520,848 and $394,181, respectively, as deferred Officer’s salary for the difference between the president’s annual salary and the amounts paid.

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT)	12 Months Ended
	Jun. 30, 2017
Equity [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	NOTE 5 - STOCKHOLDERS’ EQUITY (DEFICIT) Preferred Stock As of June 30, 2017, the Company has 5,000,000 shares of preferred stock, par value $0.001, authorized and 410,000 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 December 11, 2009, the Company entered into an Assignment and Assumption Agreement with ACI (the “assignment and Assumption Agreement”). In accordance with the Assignment and Assumption Agreement, ACI conveyed, assigned and transferred to the Company all of ACI’s rights, title and interest in and to the Patent and delegated to the Company all of its duties and obligations to be performed under the Patent; and the Company hereby accepts the assignment of all of ACI’s rights, title and interest to the Patent and the rights and delegation of duties and obligations and agrees to be bound by and to assume such duties and obligations. In consideration for the assignment of the Patent, the Company issued 200,000 shares of Series B Convertible Preferred Stock. ACI may only convert these shares into common shares (in accordance with the conversion terms noted herein) upon delivering to the Company, a third-party valuation of the assigned Patent conducted by a nationally qualified accounting firm or IP law firm mutually agreed upon between the Company and ACI, indicating that such Patent is valued at a minimum of $1,000,000. On November 12, 2012, the Company issued 200,000 shares of its Series B Convertible Preferred Stock to ACI in consideration for ACI’s patent relating to the Medical Keyring Device. In July 2013, ACI elected to convert 190,000 shares of Series B Convertible Preferred Stock, issued in 2012, into 9,500,000 shares of the Company’s common stock. During September 2013, the Company acquired license rights to ACI’s BioCentric Cloud Device technology in consideration of the Company’s issuance to ACI of 200,000 shares of its Series B Convertible Preferred Stock. Effective November 5, 2014, the Company increased the number of preferred shares designated as Series B, and accordingly, the shares were issued to ACI on November 10, 2014. In accordance with Staff Accounting Bulletin (“SAB”) topic 5G “Transfers of Non-Monetary Assets by Promoters and Shareholders” the Company recorded these transactions at ACI’s carrying basis of the Patents, which was $0. Class A Common Stock As of June 30, 2017, the Company has 50,000,000 shares of Class A common stock, par value $0.001, authorized and no shares issued and outstanding. In October 2003, the Company issued 50,000,000 shares of Class A common stock at par value ($50,000). These shares were converted into 50,000,000 shares of common stock in 2006. Common Stock and Warrants The Company was incorporated on December 18, 2002, with 45,000,000 authorized shares of Common Stock, par value $0.001. The articles of incorporation were amended in 2006 to increase the number of authorized shares to 100,000,000 common shares, again in 2009 to increase the number of authorized shares to 200,000,000 common shares, and again on June 8, 2016 to increase the number of authorized common shares to 300,000,000. As of June 30, 2017, the Company had 226,172,799 shares of common stock issued and outstanding. During the three months ended September 30, 2015, the Company sold, for net proceeds of $214,633, units consisting of an aggregate of (i) 2,150,000 shares, (ii) warrants to purchase 2,687,500 shares at $0.70 per share, and (iii) warrants to purchase 1,354,500 shares at $1.00 per share. During the three months ended December 31, 2015, the Company sold, for net proceeds of $261,477, units consisting of an aggregate of (i) 5,242,000 shares, (ii) warrants to purchase 3,276,250 shares at $0.70 per share, and (iii) warrants to purchase 1,651,230 shares at $1.00 per share. During the three months ended March 31, 2016, the Company sold, for net proceeds of $106,771, units consisting of an aggregate of (i) 2,140,000 shares, (ii) warrants to purchase 1,337,500 shares at $0.70 per share, and (iii) warrants to purchase 674,100 shares at $1.00 per share. The warrants expire at various times through January 15, 2018. During the three months ended June 30, 2016, the Company sold, for net proceeds of $378,784, units consisting of an aggregate of (i) 7,590,000 shares, (ii) warrants to purchase 4,743,750 shares at $0.70 per share, and (iii) warrants to purchase 2,390,850 shares at $1.00 per share. The warrants expire at various times through. During the three months ended September 30, 2016, the Company sold, for net proceeds of $155,991, units consisting of an aggregate of (i) 3,130,000 shares, (ii) warrants to purchase 1,956,250 shares at $0.70 per share, and (iii) warrants to purchase 985,950 shares at $1.00 per share. The warrants expire at various times through January 15, 2018. During the three months ended September 30, 2016, the Company issued an aggregate of 1,669,633 shares for consulting services valued at $84,400, based on the stock price at the time of the respective agreements underlying the services provided. During the three months ended December 31, 2016, the Company sold, for net proceeds of $272,904, units consisting of an aggregate of (i) 5,470,000 shares, (ii) warrants to purchase 3,418,750 shares at $0.70 per share, and (iii) warrants to purchase 1,723,050 shares at $1.00 per share. The warrants expire at various times through January 31, 2018. During the three months ended December 31, 2016, the Company issued an aggregate of 5,000,000 shares for consulting services valued at $550,000 based on the stock price at the time of the respective agreements underlying the services provided. During the three months ended March 31, 2017, the Company sold, for net proceeds of $127,247.50, units consisting of an aggregate of (i) 2,550,000 shares, (ii) warrants to purchase 1,593,750 shares at $0.70 per share, and (iii) warrants to purchase 803,250 shares at $1.00 per share. The warrants expire at various times through September 27, 2018. During the three months ended March 31, 2017, the Company issued an aggregate of 2,423,000 shares of common stock for consulting services valued at $283,955, based on the stock price at the time of the respective agreements underlying the services provided. During the three months ended June 30, 2017, the Company sold, for net proceeds of $242,157, units consisting of an aggregate of (i) 7,450,000 shares, (ii) warrants to purchase 3,031,250 shares at $0.70 per share, and (iii) warrants to purchase 1,527,750 shares at $1.00 per share. The warrants expire at various times through October 20, 2018. In July 2015, as consideration for a consulting agreement, the Company issued warrants to purchase 300,000 shares of its common stock at an exercise price of $0.01 per share. The warrants are fully vested and exercisable for five-years. The Company valued the warrants using the Black-Sholes option pricing model with the following criteria: stock price of $0.14; volatility 150%, term 5 years; and risk-free rate of 1.71%. The criteria yielded a per-warrant value of $0.14, resulting in a total value of $42,000 for the 300,000 warrants. The expense has been included in other general and administrative expenses in the consolidated statement of operations. In April 2016, as partial consideration for consulting services rendered, the Company authorized to be issued warrants to purchase 1 million shares of its common stock at an exercise price of $0.03 per share (“$0.03 warrants”), and 2 million warrants to purchase shares of its common stock at an exercise price of $0.08 per share (“$0.08 warrants”). The warrants are fully vested and exercisable for three-years. The Company valued the warrants using the Black-Sholes option pricing model with the following criteria: stock price of $0.11; volatility 136%, term 3 years; and risk-free rate of 0.92%. The criteria yielded a per-warrant value of $0.10 for the $0.03 warrants, and a per-warrant value of $0.09 for the $0.08 warrants, resulting in a total value of $280,000 for the 3 million warrants. The expense has been included in other general and administrative expenses in the consolidated statement of operations. Warrant Activity: As of June 30, 2017 and 2016, the following is a breakdown of the activity: June 30, 2017: Outstanding - beginning of year 12,540,199 Issued 15,040,000 Exercised — Expired (7,303,800 ) Outstanding - end of year 20,276,399 June 30, 2016: Outstanding - beginning of year 29,475,626 Issued 21,415,680 Exercised — Expired (38,351,107 ) Outstanding - end of year 12,540,199 At June 30, 2017, all of the 20,276,399 warrants are vested, 16,976,399 warrants expire at various times through October 2018, 3,000,000 warrants expire in September 2019, and 300,000 warrants expire in July 2020.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 6 - 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, 2017 and 2016, deferred tax assets consist of the following: 2017 2016 Net operating loss carryforward $ 6,779,967 $ 6,544,717 Warrant issuances - 192,990 Deferred officer compensation 177,088 134,022 Other 1,281 1,632 Valuation allowance (6,958,336 ) (6,873,361 ) $ - $ - A reconciliation of the activity related to the liability for gross unrecognized tax benefits related to uncertain tax positions during fiscal 2017 and 2016 is as follows: Year ended June 30, 2017 2016 Balance as of beginning of fiscal year $ 192,990 $ 0 Increases (decreases) related to current and prior year positions (192,990 ) 192,990 Balance as of June 30, $ 0 $ 192,990 At June 30, 2017, the Company had a net operating loss carryforwards in the amount of approximately $19.9 million available to offset future taxable income through 2036, which will begin to expire in 2022. 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, 2017 and 2016 is summarized as follows: 2017 2016 Tax on income before income tax 34.00 % 34.00 % Effect of non-temporary differences (0.04 )% (0.05 )% Effect of prior year items - % -% Effect of temporary differences - % (0.33) % Change in valuation allowance (33.96 )% (33.62 )% 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 2013. 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, 2017
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	NOTE 7 - 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, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 - SUBSEQUENT EVENTS On September 11, 2017, we received a license to certain patents from Chaya Hendrick, our founder and CEO, related to our technologies until the expiration of the patents. As consideration, we issued Chaya Hendrick, or her assigns, (i) 200,000 shares of Series B Convertible Preferred Stock, (ii) a royalty equal to 5% of gross revenues derived from products sold related to the patents, and (iii) certain minimum required payments beginning at $50,000 and doubling each year thereafter. The Series B Preferred Shares may be converted at the election of holder on a basis for 50 common shares for each preferred share at any time or an aggregate of 10,000,000 common shares in exchange for all 200,000 preferred shares. On July 1, 2017, we entered into an employment agreement with Chaya Hendrick, our CEO. Pursuant to the terms of the agreement Chaya Hendrick will receive (i) an annual salary of $190,000 per annum, adjusted at the end of each year at the discretion of the board of directors, but at minimum an increase of 10% annually; additionally, any unpaid salary during this and prior employment agreements shall bear a cumulative interest rate of 7% per annum; and (ii) an incentive management fee equal to $50,000 and increasing by 25% per annum upon manufacturing of the Company’s first product. Chaya Hendrick will additionally receive other customary vacation, holiday and insurance commensurate with the Company’s past policies and practices as well as an automobile allowance of an automobile of a gross purchase price not to exceed $60,000, replaceable at minimum, every two years. The agreement may only be terminated by the Company for cause, and in such case, the Company will be obligated to pay an additional $350,000 in severance.

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
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.
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 and Cash Equivalents	Cash and Cash Equivalents 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, 2017 and 2016.
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. The Company anticipates recognizing revenue in accordance with the contracts it enters into for the sale and distribution of its products.
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, 2017 no accrual for uncertain income tax positions is necessary.
Advertising Costs	Advertising Costs The Company expenses advertising costs as incurred.
Loss Per Share of Common Stock	Loss Per Share of Common Stock Basic net loss per common share is computed using the weighted average number of common shares outstanding. The calculation of diluted earnings per share (“EPS”) includes consideration of dilution arising from common stock equivalents, such as stock issuable pursuant to the exercise of stock options and warrants. Common stock equivalents were not included in the computation of diluted earnings per share on the consolidated statement of operations due to the fact that the Company reported a net loss and to do so would be anti-dilutive for the periods presented.
Stock-Based Compensation	Stock-Based Compensation The Company measures expense for issuances of stock-based compensation to employees and others at fair value of the stock and warrants issued, as this is more reliable than the fair value of the services received. The fair value is measured at the value of the Company’s common stock on the date that the commitment for performance by the counterparty has been reached or the counterparty’s performance obligation is complete. The fair value of the equity instrument is charged directly to compensation expense and additional paid-in capital.

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) (Tables)	12 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Schedule of share based compensation warrant activity	As of June 30, 2017 and 2016, the following is a breakdown of the activity: June 30, 2017: Outstanding - beginning of year 12,540,199 Issued 15,040,000 Exercised — Expired (7,303,800 ) Outstanding - end of year 20,276,399 June 30, 2016: Outstanding - beginning of year 29,475,626 Issued 21,415,680 Exercised — Expired (38,351,107 ) Outstanding - end of year 12,540,199

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of deferred tax assets and liabilities	At June 30, 2017 and 2016, deferred tax assets consist of the following: 2017 2016 Net operating loss carryforward $ 6,779,967 $ 6,544,717 Warrant issuances - 192,990 Deferred officer compensation 177,088 134,022 Other 1,281 1,632 Valuation allowance (6,958,336 ) (6,873,361 ) $ - $ -
Schedule of unrecognized tax benefits roll forward	A reconciliation of the activity related to the liability for gross unrecognized tax benefits related to uncertain tax positions during fiscal 2017 and 2016 is as follows: Year ended June 30, 2017 2016 Balance as of beginning of fiscal year $ 192,990 $ 0 Increases (decreases) related to current and prior year positions (192,990 ) 192,990 Balance as of June 30, $ 0 $ 192,990
Schedule of effective income tax rate reconciliation	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, 2017 and 2016 is summarized as follows: 2017 2016 Tax on income before income tax 34.00 % 34.00 % Effect of non-temporary differences (0.04 )% (0.05 )% Effect of prior year items - % -% Effect of temporary differences - % (0.33) % Change in valuation allowance (33.96 )% (33.62 )% 0.00 % 0.00 %

ORGANIZATION AND BASIS OF PRE18

ORGANIZATION AND BASIS OF PRESENTATION (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (1,086,091)	$ (2,227,324)
Accumulated deficit	$ 24,346,047	$ 23,254,876

COMMITMENTS (Details Narrative)

COMMITMENTS (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Deferred compensation liability	$ 520,848	$ 394,181
Lease Agreement [Member]
Rent expense	35,880	33,689
Chaya Hendrick [Member]
Cash advances from related party	$ 4,800	$ 22,300
Interest rate	5.00%

STOCKHOLDERS' EQUITY (DEFICIT20

STOCKHOLDERS' EQUITY (DEFICIT) (Details) - Warrant [Member] - shares	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding - beginning of year	12,540,199	29,475,626
Issued	15,040,000	21,415,680
Exercised
Expired	(7,303,800)	(38,351,107)
Outstanding - end of year	20,276,399	12,540,199

STOCKHOLDERS' EQUITY (DEFICIT21

STOCKHOLDERS' EQUITY (DEFICIT) (Details Narrative) - USD ($)	Nov. 05, 2014	Nov. 12, 2012	Dec. 11, 2009	Oct. 31, 2003	Apr. 30, 2016	Jul. 31, 2015	Sep. 30, 2013	Jul. 31, 2013	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 08, 2016	Jun. 30, 2015	Dec. 31, 2009	Dec. 31, 2006	Dec. 18, 2002
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									410,000				410,000				410,000	410,000
Preferred stock, outstanding									410,000				410,000				410,000	410,000
Number of shares issued									7,450,000	2,550,000	5,470,000	3,130,000	7,590,000	2,140,000	5,242,000	2,150,000
Common stock, shares authorized									300,000,000				300,000,000				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									226,172,799				203,735,166				226,172,799	203,735,166
Common stock, shares outstanding									226,172,799				203,735,166				226,172,799	203,735,166
Proceeds from sale of common stock									$ 242,157	$ 127,248	$ 272,904	$ 155,991	$ 378,784	$ 106,771	$ 261,477	$ 214,633	$ 798,299	$ 961,665
Warrant expiration date									Oct. 28, 2018	Sep. 27, 2018	Jan. 31, 2018		Jan. 15, 2018	Jan. 15, 2018
Series B Convertible Preferred Stock [Member]
Conversion of preferred stock into common stock								190,000
Applied Cryptography, Inc [Member] | Series B Convertible Preferred Stock [Member]
Number of shares issued							200,000
Consultant [Member]
Number of shares issued for services										2,423,000
Common stock issued for services										$ 283,955
Value of shares authorized to be issued for consulting services												$ 84,400
Number of shares authorized to be issued for consulting services (in shares)												1,669,633
Warrant One [Member]
Number of securities									3,031,250	1,593,750	3,418,750	1,956,250	4,743,750	674,100	3,276,250	2,687,500	3,031,250	4,743,750
Exercise price of warrants									$ 0.70	$ 0.70	$ 0.70	$ 0.70	$ 0.70	$ 1	$ 0.70	$ 0.70	$ 0.70	$ 0.70
Warrant Two [Member]
Number of securities									1,527,750	803,250	1,723,050	985,950	2,390,850	1,337,500	1,651,230	1,354,500	1,527,750	2,390,850
Exercise price of warrants									$ 1	$ 1	$ 1	$ 1	$ 1	$ 0.70	$ 1	$ 1	$ 1	$ 1
Value of shares authorized to be issued for consulting services											$ 550,000
Number of shares authorized to be issued for consulting services (in shares)											5,000,000
Warrant [Member]
Number of securities						300,000
Exercise price of warrants						$ 0.01
Number of warrant vested									20,276,399				12,540,199				20,276,399	12,540,199		29,475,626
Stock price per share					$ 0.11	$ 0.14
Expected volatility rate					136.00%	150.00%
Risk free interest rate						1.71%
Warrants and rights outstanding					$ 280,000	$ 42,000
Expected term						5 years
Warrant Three [Member]
Number of securities					1,000,000
Exercise price of warrants					$ 0.03
Warrant Eight [Member]
Number of securities					2,000,000
Exercise price of warrants					$ 0.08
Warrant Expired Through October 2018 [Member]
Number of warrants expired																	16,976,399
Warrant Expired On September 2019 [Member]
Number of warrants expired																	3,000,000
Warrant Expired On July 2020 [Member]
Number of warrants expired																	300,000
Common Class [Member]
Description of conversion of stock				These shares were converted into 50,000,000 shares of common stock in 2006.
Common stock, shares authorized													50,000,000					50,000,000
Common stock, par value (in dollars per share)				$ 50,000									$ 0.001					$ 0.001
Common stock, shares issued				50,000,000
Common Stock [Member]
Common stock, shares authorized									100,000,000								100,000,000		300,000,000		200,000,000	100,000,000	45,000,000
Common stock, par value (in dollars per share)																							$ 0.001
Conversion of preferred stock into common stock								9,500,000
Series B Convertible Preferred Stock [Member]
Preferred stock, shares authorized			500,000
Preferred stock, par value (in dollars per share)	$ 0.001		$ 0.001
Preferred stock, Stated Value Per Share	$ 5		$ 5
Description of conversion of stock	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.
Number of shares issued			200,000
Series B Convertible Preferred Stock [Member] | Applied Cryptography, Inc [Member]
Number of shares issued for services		200,000
Series B Convertible Preferred Stock [Member] | Applied Cryptography, Inc [Member] | Minimum [Member]
Number of shares issued			1,000,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ 6,779,967	$ 6,544,717
Warrant issuances	0	192,990
Deferred officer compensation	177,088	134,022
Other	1,281	1,632
Valuation allowance	(6,958,336)	(6,873,361)
Deferred Tax Assets, Net	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Balance as of beginning of fiscal year	$ 192,990	$ 0
Increases (decreases) related to current and prior year positions	(192,990)	192,990
Balance as of June 30,	$ 0	$ 192,990

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Tax on income before income tax	34.00%	34.00%
Effect of non-temporary differences	(0.04%)	(0.05%)
Effect of prior year items	0.00%	0.00%
Effect of temporary differences	0.00%	(0.33%)
Change in valuation allowance	(33.96%)	(33.62%)
Effective Income Tax Rate Reconciliation, Percent	0.00%	0.00%

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Jun. 30, 2017USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 20,200,000
Operating loss carryforwards, limitations on use	The Company had a net operating loss carryforwards in the amount of approximately $19.9 million available to offset future taxable income through 2036, which will begin to expire in 2022.

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Sep. 11, 2017	Jul. 01, 2017	Dec. 11, 2009	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015
Number of shares issued				7,450,000	2,550,000	5,470,000	3,130,000	7,590,000	2,140,000	5,242,000	2,150,000
Series B Convertible Preferred Stock [Member]
Number of shares issued			200,000
Subsequent Event [Member] | Chaya Hendrick [Member] | Employment Agreement [Member]
Severance cost		$ 350,000
Annual salary to CEO (Chief Executive Officer)		190,000
Incentive management fee		$ 50,000
Description of payment received under agreement		(i) an annual salary of $190,000 per annum, adjusted at the end of each year at the discretion of the board of directors, but at minimum an increase of 10% annually; additionally, any unpaid salary during this and prior employment agreements shall bear a cumulative interest rate of 7% per annum; and (ii) an incentive management fee equal to $50,000 and increasing by 25% per annum upon manufacturing of the Company’s first product. Chaya Hendrick will additionally receive other customary vacation, holiday and insurance commensurate with the Company’s past policies and practices as well as an automobile allowance of an automobile of a gross purchase price not to exceed $60,000, replaceable at minimum, every two years. The agreement may only be terminated by the Company for cause, and in such case, the Company will be obligated to pay an additional $350,000 in severance.
Subsequent Event [Member] | Series B Convertible Preferred Stock [Member] | Chaya Hendrick [Member]
Number of shares issued for patents consideration	200,000
Percentage of royalty on gross revenues	5.00%
Description of license patents consideration	As consideration, we issued Chaya Hendrick, or her assigns, (i) 200,000 shares of Series B Convertible Preferred Stock, (ii) a royalty equal to 5% of gross revenues derived from products sold related to the patents, and (iii) certain minimum required payments beginning at $50,000 and doubling each year thereafter.
Number of shares issued	10,000,000
Number of converted preferred shares issued	200,000
Number of common shares issued for each preferred share	50