Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Sep. 30, 2016 | Nov. 14, 2016 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Trading Symbol | lexg | |
Entity Registrant Name | Lithium Exploration Group, Inc. | |
Entity Central Index Key | 1,375,576 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 256,885,593 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2016 | Jun. 30, 2016 |
Current | ||
Cash and cash equivalents | $ 39,839 | $ 25,208 |
Prepaid expenses | 1,100 | 2,788 |
Current assets held for sale | 19,817 | 20,011 |
Total current assets | 60,756 | 48,007 |
Deposit on PetroChase Inc. Investment | 250,000 | 0 |
Total Assets | 310,756 | 48,007 |
Current | ||
Accounts payable and accrued liabilities | 188,588 | 211,813 |
Promissory notes payable | 328,000 | 0 |
Derivative liability - convertible promissory notes | 2,847,823 | 1,162,058 |
Derivative liability - warrants | 338,785 | 268,611 |
Due to related party | 115,000 | 115,000 |
Convertible promissory notes - net of unamortized debt discount | 1,990,817 | 619,769 |
Accrued interest - convertible promissory notes | 132,205 | 137,936 |
Current liabilities held for sale | 6,368 | 6,420 |
Total Current Liabilities | 5,947,586 | 2,521,607 |
Commitments and contingencies | 0 | 0 |
DEFICIT | ||
Capital stock Authorized: 100,000,000 preferred shares, $0.001 par value 10,000,000,000 (June 30, 2016 - 2,000,000,000) common shares, $0.001 par value Issued and outstanding: Nil preferred shares (June 30, 2016 - Nil) 162,724,024 common shares (June 30, 2016 - 119,772,784) | 162,724 | 119,773 |
Additional paid-in capital | 48,613,444 | 48,598,773 |
Accumulated other comprehensive loss | (33,852) | (33,731) |
Accumulated deficit | (54,027,155) | (50,806,439) |
Total Lithium Exploration Group, Inc. Stockholders' Deficit | (5,284,839) | (2,121,624) |
Non-controlling interest | (351,991) | (351,976) |
Total Deficit | (5,636,830) | (2,473,600) |
Total Liabilities and Deficit | $ 310,756 | $ 48,007 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2016 | Jun. 30, 2016 |
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Preferred Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 10,000,000,000 | 2,000,000,000 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | ||
Preferred Stock, Shares Outstanding | ||
Common Stock, Shares, Issued | 162,724,024 | 119,772,784 |
Common Stock, Shares, Outstanding | 162,724,024 | 119,772,784 |
Consolidated Statements of Oper
Consolidated Statements of Operations And Comprehensive Loss - USD ($) | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Revenue | $ 0 | $ 0 |
Operating Expenses: | ||
Mining | 35,083 | 5,000 |
Selling, general and administrative | 178,657 | 141,809 |
Total operating expenses | 213,740 | 146,809 |
Loss from operations | (213,740) | (146,809) |
Other income (expenses) | ||
Interest expense | (223,216) | (346,779) |
Loss on change in the fair value of derivative liability | (1,150,330) | (8,441,773) |
Amortization of debt discount | (142,332) | (170,943) |
Bad-debt write off | 0 | (20,000) |
Gain on disposal of business operations | 0 | 7,637 |
Loss on extinguishment of liability | (1,491,082) | 0 |
Loss before income taxes | (3,220,700) | (9,118,667) |
Provision for Income Taxes | 0 | 0 |
Net loss from continued operations | (3,220,700) | (9,118,667) |
Loss from discontinued operations | (31) | (54,074) |
Net loss | (3,220,731) | (9,172,741) |
Less: Net loss attributable to the non-controlling interest | (15) | (26,496) |
Net loss attributable to Lithium Exploration Group, Inc. Common shareholders | $ (3,220,716) | $ (9,146,245) |
Basic and Diluted loss per Common Share from continuing operations | $ (0.07) | $ (4) |
Basic and Diluted Weighted Average Number of Common Shares Outstanding | 48,779,903 | 2,286,192 |
Comprehensive loss: | ||
Net loss | $ (3,220,731) | $ (9,172,741) |
Foreign currency translation adjustment | (121) | 9,588 |
Comprehensive loss | (3,220,852) | (9,163,153) |
Comprehensive loss attributable to non-controlling interest | (15) | (26,496) |
Comprehensive loss attributable to Lithium Exploration Group, Inc. | $ (3,220,837) | $ (9,136,657) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders Deficit - 3 months ended Sep. 30, 2016 - USD ($) | Common Shares [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | Non-controlling interest [Member] | Total |
Beginning Balance at Jun. 30, 2016 | $ 119,773 | $ 48,598,773 | $ (33,731) | $ (50,806,439) | $ (351,976) | $ (2,473,600) |
Beginning Balance (Shares) at Jun. 30, 2016 | 119,772,784 | |||||
Common shares issued for debt conversion and interest | $ 42,951 | (21,476) | 21,475 | |||
Common shares issued for debt conversion and interest (Shares) | 42,951,240 | |||||
Derivative liability transferred to additional paid in capital on conversion of note | 36,147 | 36,147 | ||||
Foreign currency translation loss | (121) | (121) | ||||
Net loss for the period | (3,220,716) | (15) | (3,220,731) | |||
Ending Balance at Sep. 30, 2016 | $ 162,724 | $ 48,613,444 | $ (33,852) | $ (54,027,155) | $ (351,991) | $ (5,636,830) |
Ending Balance (Shares) at Sep. 30, 2016 | 162,724,024 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash Flows from Operating Activities | ||
Net loss from continuing operations | $ (3,220,700) | $ (9,118,667) |
Loss from discontinued operations | (31) | (54,074) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Non-cash interest expense | 199,679 | 323,793 |
Common shares issued for interest | 85 | 0 |
Investment impairment | 0 | 60,178 |
Bad debt written-off | 0 | 20,000 |
Gain on change in the fair value of derivative liability | 1,150,330 | 8,441,773 |
Amortization of debt discount | 142,332 | 170,943 |
Loss on extinguishment of debt and derivative liabilities | 1,491,082 | 0 |
Changes in operating assets and liabilities: | ||
Receivable, net | 0 | 13,421 |
Prepaid expenses | 1,688 | 0 |
Accrued interest | 23,452 | 22,986 |
Accounts payable and accrued liabilities | (23,361) | 38,961 |
Net cash used in operating activities from continuing operations | (235,444) | (80,686) |
Net cash provided by (used in) operating activities from discontinued operations | 142 | (32,247) |
Net cash used in operating activities | (235,302) | (112,933) |
Cash Flows from Investing Activities | ||
Investment in PetroChase Inc. | (250,000) | 0 |
Net cash used in investing activities | (250,000) | 0 |
Cash Flows from Financing Activities | ||
Proceed from issuance of convertible promissory notes, net | 500,000 | 93,000 |
Net cash provided by financing activities | 500,000 | 93,000 |
Effect of foreign exchange | (67) | (9,588) |
(Decrease) increase in cash and cash equivalents | 14,631 | (29,521) |
Cash and cash equivalents - beginning of period | 25,208 | 64,098 |
Cash and cash equivalents - end of period | 39,839 | 34,577 |
Cash paid during the period for: | ||
Interest | 0 | 0 |
Income taxes | 0 | 0 |
Non-cash investing and financing activities: | ||
Common stock issued for debt conversion and accrued interest | 21,475 | 110,503 |
Derivative liability re-classed to additional paid in capital | 36,147 | 200,856 |
Debt discount on issuance of convertible note and warrants | 804,019 | 0 |
Initial derivative liability on note issuance | 1,003,702 | 414,024 |
Interest reclassed to convertible note | $ 1,540 | $ 0 |
Organization
Organization | 3 Months Ended |
Sep. 30, 2016 | |
Organization [Text Block] | 1. Organization Lithium Exploration Group, Inc. (formerly Mariposa Resources, Ltd.) (the “Company”) was incorporated on May 31, 2006 in the State of Nevada, U.S.A. It is based in Phoenix, Arizona, USA. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is June 30. Effective November 30, 2010, the Company changed its name to “Lithium Exploration Group, Inc.,” by way of a merger with its wholly-owned subsidiary Lithium Exploration Group, Inc., which was formed solely for the change of name. A wholly owned subsidiary, 1617437 Alberta Ltd. was incorporated in the province of Alberta, Canada on July 8, 2011. Effective October 2, 2013, the subsidiary changed its name to Alta Disposal Ltd. On October 18, 2013, the Company acquired 51% interest in Alta Disposal Morinville Ltd. (formerly Blue Tap Resources Ltd.). Effective September 4, 2015, the Company entered into an Asset Purchase Agreement with Cancen Oil Canada whereby the Company agrees to sell all right, title and interest of Alta Disposal Morinville Ltd. assets for total purchase price of CAD$10,000 approximately USD$7,466. On March 1, 2014, the Company through its 100% subsidiary Alta Disposal Ltd. acquired 50% interest in Tero Oilfield Services Ltd. (the “Tero”) On May 1, 2015, the Company entered into a Share Purchase Agreement with an individual and disposed its 50% interest in Tero. On September 9, 2016, the Company acquired 100% interest in Black Box Energy, Inc. (Black Box Energy”) a Company incorporated in the state of Nevada. On September 9, 2016, the Company through its 100% subsidiary Black Box Energy entered into an agreement with PetroChase Inc. to acquire a 50% of a 70% of the working interest in the McKean County Project (Note 6). The Company is engaged principally in the acquisition, exploration, and development of resource properties. Prior to June 25, 2009, the Company had the right to conduct exploration work on 20 mineral mining claims in Esmeralda County, Nevada, U.S.A. On July 31, 2009, the Company acquired an option to enter into a joint venture for the management and ownership of the Jack Creek Project, a mining project located in Elko County, Nevada. On September 25, 2009, the joint venture was terminated and the Company entered into an agreement with Beeston Enterprises Ltd., under which the Company was granted an option to acquire an undivided 50% interest in eight mineral claims located in the Clinton Mining District of British Columbia, Canada. On December 16, 2010, the Company entered into an Assignment Agreement to acquire an undivided 100% right, title and interest in and to certain mineral permits located in the Province of Alberta, Canada (see Note 5). On November 8, 2011, the Company entered into a letter agreement with Glottech-USA. Pursuant to the terms of the agreement, the Company was granted an exclusive license to use and distribute the technology within the Swan Hills region of Alberta as well as a non-exclusive right to distribute the technology within Canada. |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2016 | |
Significant Accounting Policies [Text Block] | 2. Significant Accounting Policies Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. These interim financial statements as of and for the three months ended September 30, 2016 and 2015 are unaudited; however, in the opinion of management, such statements include all adjustments (consisting of normal recurring accruals)necessary to present fairly the financial position, results of operations and cash flows of the Company for the periods presented. The results for the three months ended September 30, 2016 are not necessarily indicative of the results to be expected for the year ending June 30, 2017 or for any future period. All references to September 30, 2016 and 2015 in these footnotes are unaudited. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto for the year ended June 30, 2016, included in the Company’s annual report on Form 10-K filed with the SEC on October 18, 2016. Principal of Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary Alta Disposal Ltd., its 51% owned subsidiary Alta Disposal Morinville Ltd. (formerly Bluetap Resources Ltd.), and its 100% interest in Black Box Energy. Intercompany accounts and transactions have been eliminated in consolidation in conformity with the applicable accounting framework. Note that no transactions occurred within Black Box Energy as of September 30, 2016. Use of Estimates The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. Significant estimates that may materially change in the near term include the valuation of derivative liabilities and the underlying warrants, as well as fair value of investments. Cash and Cash Equivalents Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $39,839 and $25,208 in cash and cash equivalents at September 30, 2016 and June 30, 2016, respectively. Concentration of Risk The Company maintains cash balances at a financial institution which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits for banks located in the US. As of September 30, 2016 and June 30, 2016, the Company had no deposits in excess of federally insured limits in its US bank. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash in bank accounts. Prepaid expenses Prepaid expenses consist of security deposit for office lease which will be expensed or refunded at the end of the lease period. Start-Up Costs In accordance with FASC 720-15-20 “ Start-Up Costs,” Mineral Acquisition and Exploration Costs The Company has been in the exploration stage since its formation on May 31, 2006. It is primarily engaged in the acquisition, exploration, and development of mining properties. Mineral property acquisition and exploration costs are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserves. Concentrations of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. Non-controlling Interest The 49% third party ownership of Alta Disposal Morinville Ltd. (formerly Blue Tap Resources Ltd.) at September 30, 2016 and 2015 are recorded as non-controlling interests in the consolidated financial statements. Details of changes in the non-controlling interests during the year ended June 30, 2016 and period ending September 30, 2016 are reflected in the condensed statement of deficit. Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all related party transactions. All transactions shall be recorded at fair value of the goods or services exchanged. Property purchased from a related party is recorded at the cost to the related party and any payment to or on behalf of the related party in excess of the cost is reflected as a distribution to related party. Net Income or (Loss) per Share of Common Stock The Company has adopted FASC Topic No. 260, “ Earnings Per Share Potentially dilutive securities are not presented in the computation of EPS since their effects are anti-dilutive. The total number of potential no. of dilutive shares is 567,742,813 as of September 30, 2016. Foreign Currency Translations The Company’s functional and reporting currency is the US dollar. All transactions initiated in other currencies are translated into US dollars using the exchange rate prevailing on the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated into the US dollar at the rate of exchange in effect at the balance sheet date. Unrealized exchange gains and losses arising from such transactions are deferred until realization and are included as a separate component of stockholders’ equity (deficit) as a component of comprehensive income or loss. Upon realization, the amount deferred is recognized in income in the period when it is realized. Translation of Foreign Operations The financial results and position of foreign operations whose functional currency is different from the Company’s presentation currency are translated as follows: Exchange differences arising on translation of foreign operations are transferred directly to the Company’s accumulated other comprehensive loss in the consolidated balance sheets. Transaction gains and losses arising from exchange rate fluctuation on transactions denominated in a currency other than the functional currency are included in the consolidated statements of operations. The relevant translation rates are as follows: For the period ending September 30, 2016 closing rate at 0.7624 CDN$: US$, average rate at 0.7665 CDN$: US$ and for the year ended June 30, 2016 closing rate at 0.769 CDN$: US$, average rate at 0.7761 CDN$: US$. For the period ending September 30, 2015 closing rate at 0.7466 CDN$: US$, average rate at 0.7637 CDN$: US$. Comprehensive Income (Loss) FASC Topic No. 220, “ Comprehensive Income,” Risks and Uncertainties The Company operates in the resource exploration industry that is subject to significant risks and uncertainties, including financial, operational, technological, and other risks associated with operating a resource exploration business, including the potential risk of business failure. Environmental Expenditures The operations of the Company have been, and may in the future be, affected from time to time in varying degree by changes in environmental regulations, including those for future reclamation and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company's policy is to meet or, if possible, surpass standards set by relevant legislation by application of technically proven and economically feasible measures. Environmental expenditures that relate to ongoing environmental and reclamation programs are charged against earnings as incurred or capitalized and amortized depending on their future economic benefits. All of these types of expenditures incurred since inception have been charged against earnings due to the uncertainty of their future recoverability. Estimated future reclamation and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries. Warrants The Company accounts for currently outstanding detachable warrants to purchase common stock as derivative liabilities as they are freestanding derivative financial instruments. The warrants are recorded as derivative liabilities at fair value, estimated using a Black-Scholes option pricing model, and marked to market at each balance sheet date, with changes in the fair value of the derivative liabilities recorded in the consolidated statements of operations and comprehensive loss. Upon exercise of a derivative financial instrument, the instrument is marked to fair value at the conversion date and is reclassified to equity. Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with ASC 815 “Derivatives and Hedging”. It provide three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The result of this accounting treatment could be that the fair value of a financial instrument is classified as a derivative financial instrument and is marked-to-market at each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or other expense. Upon conversion or exercise of a derivative financial instrument, the instrument is marked to fair value at the conversion date and is reclassified to equity.The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their earliest date of notes redemption Extinguishment of Debt ASC 470-50-40, “Debt Modification and Extinguishments Upon determination that debt should be extinguished in accordance with ASC 470-50, the Convertible Promissory Notes and the respective derivative liability are expensed as extinguishment of debt. The Warrants are extinguished in accordance with ASC 815-10. Fair Value of Financial Instruments ASC 820, “Fair Value Measurements and Disclosures” Level 1 - Quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, prepaid expenses, deposit, accounts payable and accrued liabilities, and due to a related party approximate their fair values because of the short maturity of these instruments. The Company’s Level 3 financial liabilities consist of the liability of the Company’s secured convertible promissory notes and debentures issued to investors, and the derivative warrants issued in connection with these convertible promissory notes and debentures. There is no current market for these securities such that the determination of fair value requires significant judgment or estimation. The Company used a fair value model which incorporates transaction details such as Company stock price, contractual terms, maturity, risk free rates, as well as assumptions about future financings, volatility, and holder behavior as of the date of issuance and each balance sheet date. Revenue Recognition The Company has generated little revenues to date. It is the Company’s policy that revenue from product sales or services will be recognized in accordance with ASC 605 “Revenue Recognition”. Four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product/services was not delivered or is subject to refund until such time that the Company and the customer jointly determine that the product/service has been delivered or no refund will be required. Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company’s activities. Sales are presented, net of tax, rebates and discounts, and after eliminating intercompany sales. The Company recognizes revenue when the amount of revenue and related cost can be reliably measured and it is probable that the collectability of the related receivables is reasonably assured. During the year ended June 30, 2016 and period ending September 30, 2016, the Company didn’t record any revenue under continuing operation. Income Taxes The Company accounts for income taxes pursuant to the provisions of ASC 740-10, “Income Taxes” which requires, among other things, an asset and liability approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that the net deferred asset will not be realized. The Company also follows the provisions of ASC 740-10 related to accounting for uncertain income tax positions. When tax returns are filed, some positions taken may be sustained upon examination by the taxing authorities, while others may be subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. As of September 30, 2016, the Company has had no uncertain tax positions. The Company recognizes interest and penalties, if any, related to uncertain tax positions as general and administrative expenses. The Company currently has no federal or state tax examinations nor has it had any federal or state examinations since its inception. Receivables Trade and other receivables are customer obligations due under normal trade terms and are recorded at face value less any provisions for uncollectible amounts considered necessary. The Company includes any balances that are determined to be uncollectible in its overall allowance for doubtful accounts. The Company recorded $Nil (June 30, 2016 - $Nil) in allowance for doubtful accounts. Recent Accounting Pronouncements In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-16 - Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory. ASU 2016-16 will require the tax effects of intercompany transactions, other than sales of inventory, to be recognized currently, eliminating an exception under current GAAP in which the tax effects of intra-entity asset transfers are deferred until the transferred asset is sold to a third party or otherwise recovered through use. The guidance will be effective for the first interim period of our 2019 fiscal year, with early adoption permitted. In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ASU No. 2016-15, “Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 provides guidance regarding the classification of certain items within the statements of cash flows. ASU 2016-15 is effective for annual periods beginning after December 15, 2017 with early adoption permitted. In connection with its financial instruments project, the FASB issued ASU 2016-13 - Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments in June 2016 and ASU 2016-01 - Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities in January 2016. ASU 2016-13 introduces a new impairment model for most financial assets and certain other instruments. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a forward-looking “expected loss” model that will replace the current “incurred loss” model and generally will result in earlier recognition of allowances for losses. The guidance will be effective for the first interim period of our 2021 fiscal year, with early adoption in fiscal year 2020 permitted. ASU 2016-01 addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Among other provisions, the new guidance requires the fair value measurement of investments in certain equity securities. For investments without readily determinable fair values, entities have the option to either measure these investments at fair value or at cost adjusted for changes in observable prices minus impairment. All changes in measurement will be recognized in net income. The guidance will be effective for the first interim period of our 2019 fiscal year. Early adoption is not permitted, except for certain provisions relating to financial liabilities. In January 2016, the FASB issued an accounting standard update which requires, among other things, that entities measure equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) at fair value, with changes in fair value recognized in earnings. Under the standard, entities will no longer be able to recognize unrealized holding gains and losses on equity securities classified today as available for sale as a component of other comprehensive income. For equity investments without readily determinable fair values the cost method of accounting is also eliminated, however subject to certain exceptions, entities will be able to elect to record equity investments without readily determinable fair values at cost, less impairment and plus or minus adjustments for observable price changes, with all such changes recognized in earnings. This new standard does not change the guidance for classifying and measuring investments in debt securities and loans. The standard is effective for us on July 1, 2018 (the first quarter of our 2019 fiscal year). The Company is currently evaluating the anticipated impact of this standard on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Topic 842 affects any entity that enters into a lease, with some specified scope exemptions. The guidance in this Update supersedes Topic 840, Leases. The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For public companies, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the impact of adopting ASU No. 2016-02 on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) that clarifies how to apply revenue recognition guidance related to whether an entity is a principal or an agent. ASU 2016-08 clarifies that the analysis must focus on whether the entity has control of the goods or services before they are transferred to the customer and provides additional guidance about how to apply the control principle when services are provided and when goods or services are combined with other goods or services. The effective date for ASU 2016-08 is the same as the effective date of ASU 2014-09 as amended by ASU 2015-14, for annual reporting periods beginning after December 15, 2017, including interim periods within those years. The Company has not yet determined the impact of ASU 2016-08 on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation, or ASU No. 2016-09. The areas for simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. We are currently evaluating the impact of adopting ASU No. 2016-09 on its consolidated financial statements. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, which provides further guidance on identifying performance obligations and improves the operability and understandability of licensing implementation guidance. The effective date for ASU 2016-10 is the same as the effective date of ASU 2014-09 as amended by ASU 2015-14, for annual reporting periods beginning after December 15, 2017, including interim periods within those years. The Company has not yet determined the impact of ASU 2016-10 on its consolidated financial statements. FASB ASU 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” was issued in June 2016 and clarifies the objective of the collectability criterion, presentation of taxes collected from customers, non-cash consideration, contract modifications at transition, completed contracts at transition and how guidance in Topic 606 is retrospectively applied. The amendments do not change the core principle of the guidance in Topic 606. The effective dates are the same as those for Topic 606. |
Capital Stock
Capital Stock | 3 Months Ended |
Sep. 30, 2016 | |
Capital Stock [Text Block] | 3. Capital Stock On January 19, 2015, the Company's board of directors consented to effect a reverse stock split of the Company’s issued and outstanding shares of common stock on a basis of 20 old shares of common stock for one 1 new share of common stock. The reverse stock split was reviewed and approved for filing by the FNRA effective February 25, 2015. On July 13, 2015, the Company's board of directors consented to effect a reverse stock split of the Company’s issued and outstanding shares of common stock on a basis of 200 old shares of common stock for one 1 new share of common stock. The reverse stock split was reviewed and approved for filing by the FNRA effective September 30, 2015. The Company’s authorized capital will not be affected by the reverse stock split. The split is reflected retrospectively in the accompanying unaudited condensed consolidated financial statements. At inception, the Company authorized 100,000,000 common shares and 100,000,000 preferred shares, both with a par value of $0.001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. On April 8, 2009, the Company increased the number of authorized shares to 600,000,000 shares, of which 500,000,000 shares are designated as common stock par value $0.001 per share, and 100,000,000 shares are designated as preferred stock, par value $0.001 per share. On October 25, 2012, the Company designated 20,000,000 series A convertible preferred stock with a par value of $0.001 per share and stated value of $100 per share. The designated preferred stock is convertible at the option of the holder, at any time beginning one year from the date such shares are issued, into common stock of the Company with a par value of $0.001. All shares of common stock of the Company, shall be of junior rank to all series A preferred stock in respect to the preferences as to distributions and payments upon the liquidation, dissolution and winding up of the Company. All other shares of preferred stock shall be of junior rank to all series A preferred shares in respect to the preferences as to distributions and payments upon the liquidation, dissolution and winding up of the Company. On January 3, 2014, the Company designated 2,000,000 series B convertible preferred stock with a par value $0.001 per share, issuable only in consideration of the extinguishment of existing debt convertible in to the Company’s common stock with a par value of $0.001. The designated preferred stock shall be issued on the basis of 1 preferred stock for each $1 of convertible debt. The series B convertible preferred stock shall be subordinate to and rank junior to all indebtedness of the Company now or hereafter outstanding. On October 17, 2014, the Company amended its Articles of Incorporation, which amendment was filed with the Nevada Secretary of State on October 17, 2014, to increase the authorized capital of its common shares from 500,000,000 common shares, par value $0.001 to 2,000,000,000 common shares, par value $0.001. The Company's authorized capital consists of 2,000,000,000 common shares and 100,000,000 preferred shares, all with a par value of $0.001. Effective June 22, 2015, the Company designated 50,000,000 of its 100,000,000 authorized shares of preferred stock as series A preferred stock. The series A preferred stock, par value $0.001, will rank senior to the Company’s common stock, carrying general voting rights with the common stock at the rate of 62 votes per share. The series A preferred stock will be deemed cancelled within 1 year of issuance and are not entitled to share in dividends or other distributions. So long as any shares of series A preferred stock are outstanding, the affirmative vote of not less than 75% of those outstanding shares of series A preferred stock will be required for any change to the Company’s Articles of Incorporation. Effective September 9, 2015, the Company increase the authorized capital of its common shares from 2,000,000,000 common shares, par value $0.001 to 10,000,000,000 common shares, par value $0.001. Share Issuances Common Stock Issuance For the year ended June 30, 2016: During the year ended June 30, 2016, the Company issued 109,612,491 shares upon conversion of the convertible promissory notes and accrued interest, valued at $476,901. The Company also issued 2,577,896 shares, valued at $22,476 on cashless exercise of warrants during the year ended June 30, 2016. For the period ended September 30, 2016: During the three months ended September 30, 2016, the Company issued 42,951,240 common shares upon conversion of the convertible notes and accrued interest, valued at $21,475 (Note 6). |
Provision for Income Taxes
Provision for Income Taxes | 3 Months Ended |
Sep. 30, 2016 | |
Provision for Income Taxes [Text Block] | 4. Provision for Income Taxes The Company recognizes the tax effects of transactions in the year in which such transactions enter into the determination of net income, regardless of when reported for tax purposes. Deferred taxes are provided in the financial statements under FASC 740 - 20 - 20 to give effect to the resulting temporary differences which may arise from differences in the bases of fixed assets, depreciation methods, allowances, and start-up costs based on the income taxes expected to be payable in future years. Exploration stage deferred tax assets arising as a result of net operating loss carryforwards have been offset completely by a valuation allowance due to the uncertainty of their utilization in future periods. Operating loss carryforwards generated during the period from May 31, 2006 (date of inception) through September 30, 2016 of approximately $15,557,413 will begin to expire in 2026. Accordingly, deferred tax assets were offset by the valuation allowance that increased by approximately $237,188 and $795,006 during the periods ended September 30, 2016 and 2015 respectively. The Company follows the provisions of uncertain tax positions as addressed in FASC 740-10-65-1. The Company recognized approximately no increase in the liability for unrecognized tax benefits. The Company has no tax position at September 30, 2016 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recognized during the periods presented. The Company had no accruals for interest and penalties at September 30, 2016. The Company’s utilization of any net operating loss carry forward may be unlikely as a result of its intended exploration stage activities. The tax years for June 30, 2015, June 30, 2014, June 30, 2013 and June 30, 2012 are still open for examination by the Internal Revenue Service (IRS). For the three months ended September 30, 2016 Amount Tax Effect (35%) Loss before income tax $ 3,220,699 $ 1,127,245 Shares issued for interest expenses (85 ) (30 ) Non-cash interest expense (199,683 ) (69,889 ) Loss on derivative liability - convertible notes and warrants (1,150,330 ) (402,616 ) Loss on extinguishment of liability (1,491,082 ) (521,879 ) Amortization of discount (142,332 ) (49,816 ) Total 237,188 83,016 Valuation allowance (237,188 ) (83,016 ) Net deferred tax asset (liability) $ - $ - For the three months ended September 30, 2015 Amount Tax Effect (35%) Net loss $ 9,118,667 $ 3,191,533 Non-cash interest expense (346,779 ) (121,373 ) Loss on derivative liability - convertible notes and warrants (8,441,773 ) (2,954,621 ) Amortization of discount (170,943 ) (59,830 ) Impairment (7,637 ) (2,673 ) Total 151,535 53,037 Valuation allowance (151,535 ) (53,037 ) Net deferred tax asset (liability) $ - $ - |
Mineral Property Costs
Mineral Property Costs | 3 Months Ended |
Sep. 30, 2016 | |
Mineral Property Costs [Text Block] | 5. Mineral Property Costs Mineral Permit (Assignment Agreement with Lithium Exploration VIII Ltd.) On December 16, 2010, the Company entered into an Assignment Agreement to acquire the following: a.) An undivided 100% right, title and interest in and to certain mineral permits located in the Province of Alberta, Canada. b.) All of the assignor’s right, title and interest in and to the Option Agreement. In consideration for the Assignment, the Company agreed to pay US$90,000 by way of cash or stock of equal value (consisting of amounts previously paid by the Assignor pursuant to the Option Agreement). The full $90,000 (consisting of option payments ‘i’ and ‘v’ below) was expensed and included in the December 31, 2011 accounts payable balance. The Option shall be in good standing and exercisable by the Company by paying the following amounts on or before the dates specified in the following schedule: i.) CDN $40,000 (paid) upon execution of the agreement; ii.) CDN $60,000 (paid) on or before January 1, 2012; iii.) CDN $100,000 on or before January 1, 2013 (amended and paid); iv.) CDN $300,000 on or before January 1, 2014 (not paid); and v.) Paying all such property payments as may be required to maintain the mineral permits in good standing. The Optionee shall provide a refundable amount of CDN$50,000 (paid) to the Optionor by November 2, 2010, which shall be applied by the Optionor towards work assessment expenses acceptable to the Government of Alberta, with any unused portion to be applied against payments required to maintain the permits underlying the property in good standing. On December 31, 2012, the Company entered into an agreement to amend the original payment requirement of CDN$100,000 due on January 1, 2013 to the following payments: CDN $20,000 (paid) cash payment due on January 1, 2013 and CDN $80,000 by a 15% one year promissory note starting January 1, 2013. The promissory note is interest free until June 30, 2013. After then, interest will accrue on the principal balance then in arrears at the rate of 15% per annum. No payments shall be payable until December 31, 2013. At any time, the Optionor may elect to convert the remaining balance of CDN $80,000 plus accrued interest into common shares of the Company at 75% of the closing market price of the Company’s common shares on the election day. The full CDN$100,000 (US$95,008) (consisting of cash payment of CDN$20,000 (US$19,164) and note payable of CDN$80,000 (US$75,844) was expensed. The note is subject to be measured at its fair value in accordance with ASC 480-10-25-14. The fair value at issuance was CDN$106,667 (US$101,125) as of June 30, 2013. An additional $26,667 was charged to mining expense during the year June 30, 2013. An interest expense of CDN$3,058 (US$2,899) was accrued as at June 30, 2013. On July 3, 2013, the Optionor elected to convert the promissory note of CDN $80,000 (US$75,844) plus accrued interest of CDN$3,058 (US$2,899) for the total amount of CDN $83,058 (US$78,743) into 239 common shares of the Company at a price of US$330 per share. The January 1, 2014 payment was not paid by the Company, and subsequent to the schedule payment date, the agreement was terminated. Glottech Technology On March 17, 2011 and subsequently amended on November 18, 2011, the Company entered into a letter agreement to acquire one initial unit of proprietary and patented mechanical ultrasound technology for use in water purification, inclusive of its process of separating from water, as the primary fluid stock, the salt and other minerals and by –products contained therein, with Glottech – USA. To acquire the unit, the Company must make the following payments: a) US$25,000 upon execution of the agreement (paid); b) US$75,000 within 180 days of execution of the agreement (paid); c) US$700,000 within 10 days of receipt of invoice from Glottech –USA LLC if the payment in b) is made (paid). d) The Company also granted an option to acquire 500 shares for $1.00 to Glottech – USA upon receipt of the operational ultrasonic generator that they are building for Lithium Exploration Group. The 500 shares are to be paid from outstanding shares owned by Alex Walsh, company CEO. During the year ended June 30, 2011, the option resulting in additional mining expenses of $4,940,000 was valued using the fair market value of the shares to be issued. On October 1, 2012, Alex Walsh and GD International entered into an agreement to transfer 500 common shares owned by Alex Walsh to GD International. The shares were received by GD International on October 29, 2012. Commencing as of the end of an initial sixty day testing and training period following satisfactory delivery and physical setup of the technology, and continuing thereafter for as long as the technology remains in the possession of the Company, the Company shall pay continuing monthly royalties in an amount equal to $2.00 per physical ton of water processed pursuant to the usage of the technology. On June 12, 2012, the Company filed a complaint with the court of common pleas of Chester County, Pennsylvania against Glottech – USA, LLC, Eldredge, Inc., and the Eldredge Companies, Inc. The complaint seeks an order of the court granting possession of the unit, in its current state, to the Company. Effective August 14, 2012, the Company entered into an option agreement with GD Glottech-International, Limited (“GD International”) to protect our license and distribution rights in the event that GD-Glottech-USA, LLC (“GD USA”) is unable to perform and honor the obligations contingent to a letter agreement dated November 8, 2011. Pursuant to the terms of the option agreement, we are required to provide an initial deposit of $150,000 to be held in escrow for the option to obtain a license on the patent rights, as set forth in the option agreement. A further $15,000 was required for exercising the option agreement and it will be credited to future fees when patents rights are exercised. We exerised this option agreement on September 1, 2012 and released the funds to GD International. On October 1, 2012, the Company entered into a sales agency agreement with GD International. The agreement shall replace all agreements entered previously. Pursuant to the agreement, the Company is appointed as GD International’s sales agent for the technology within the territory. As a consideration, 10,000 common shares of the Company shall be issued to GD International (issued: see d) above). GD International retains all right, title and interest in the technology. The term of this agreement will be an initial period of five years. The term shall be automatically renewable thereafter for successive five year periods provided that the Company has sold not less than 25 or more technology units during each applicable five year period. On May 2, 2013, the Company entered into an agreement to retain the future use of the unit. Pursuant to the agreement, the Company must make the following payments: a) US$20,000 within three days of execution of the agreement (paid); b) US$30,000 within three days upon the testing of the unit has been successfully completed. |
Deposits in PetroChase, Inc.
Deposits in PetroChase, Inc. | 3 Months Ended |
Sep. 30, 2016 | |
Deposits in PetroChase, Inc. [Text Block] | 6. Deposits in PetroChase, Inc. On September 9, 2016, the Company acquired 100% interest in Black Box Energy, Inc. a company incorporated in the State of Nevada. Black Box Energy will purchase 50% of the working interest in the McKean County Project from PetroChase, Inc. The consideration paid for the 50% interest in McKean County Project, is in the following amounts: First Payment made on 09/09/2016 for an amount of $125,000 ; Second Payment made on 09/16/2016 for an amount of $125,000 ; and Management Fees Payment for an amount of $30,000 within 90 days after the Second Payment. The first two payments have been made to PetroChase, Inc. as at September 30, 2016 and appear as Deposit on Balance sheet. |
Non- Convertible Promissory Not
Non- Convertible Promissory Notes | 3 Months Ended |
Sep. 30, 2016 | |
Non- Convertible Promissory Notes [Text Block] | 7. Non- Convertible Promissory Notes On September 1, 2016, The Company entered into letter agreements with five separate investors with the intent to buyout their convertible promissory notes and warrants. Pursuant to the terms of the Agreement, the investors have agreed to a standstill period until September 16, 2016. The buyout will take place over a six month period of time and will result in an aggregate of $252,856 in debt being retired, an aggregate of $195,500 in warrants being retired and an aggregate buyout amount of $460,000 will be paid over the period. Summary of the non-convertible promissory notes at June 30, 2016 and September 30, 2016 is as follows: June 30, 2016 Reclassification (Transfer) (Payments) As of September 30, 2016 September 7, 2016 $ - $ 210,000 $ (57,000) $ 153,000 September 16, 2016 - 250,000 (75,000) 175,000 Total $ - $ 460,000 $ (132,000) $ 328,000 The above promissory notes are short-term notes that carry no interest. They are expected to be settled by cash in instalments throughout fiscal year 2017. All of the non-convertible promissory notes are expected to mature and be settled within fiscal year 2017. |
Convertible Promissory Notes
Convertible Promissory Notes | 3 Months Ended |
Sep. 30, 2016 | |
Convertible Promissory Notes [Text Block] | 8. Convertible Promissory Notes Summary of convertible promissory note at June 30, 2016 and September 30, 2016 is as follows: June 30, Principal Accretion Note Transfer September 30, 2016 Issued of issuance converted (Loan 2016 cost Extinguished) February 13, 2013 $ 21,908 $ - $ - $ - $ - $ 21,908 July 22, 2014 185,314 - - (8,900 ) - 176,414 August 22, 2014 15,768 - - - (15,768 ) - February 6, 2015 7,150 - - - - 7,150 March 9, 2015 10,220 - - - (10,220 ) - February 24, 2015 76,239 - - - (76,239 ) - August 3, 2015 36,000 - - - - 36,000 September 9, 2015 30,000 - - - - 30,000 September 30, 2015 20,800 - - - (20,800 ) - November 06,2015 12,000 - - - - 12,000 December 01, 2015 36,000 - - - (18,000 ) 18,000 December 03, 2015 17,000 - - - (17,000 ) - January 27, 2016 29,750 - - - (5,000 ) 24,750 February, 1, 2016 49,197 - - - (49,197 ) - March 01, 2016 13,200 - - - - 13,200 March 24, 2016 12,100 - - - - 12,100 March 28, 2016 42,986 - - (2,216 ) (70 ) 40,700 April 19, 2016 197,067 - - - (50,000 ) 147,067 May 16, 2016 30,250 - - - - 30,250 August 12, 2016 - 40,000 848 - - 40,848 September 7, 2016 - 100,000 937 (10,275 ) 161,420 252,082 September 8, 2016 - 25,000 158 - - 25,158 September 9, 2016 - 125,000 1,032 - - 126,032 September 15, 2016 - 232,000 998 - - 232,998 September 16, 2016 - - - - 125,000 125,000 September 19, 2016 - - - - 1,398,000 1,398,000 September 27, 2016 - 110,000 123 - - 110,123 $ 842,950 $ 632,000 $ 4,095 (21,391 ) $ 1,422,126 2,879,780 Less: Unamortized debt discount $ (223,181 ) $ (888,963 ) Total note payable, net of debt discount $ 619,769 $ 1,990,817 Current portion $ 619,769 $ 1,990,817 Long term portion $ - $ - On August 12, 2016 Company issued an aggregate of $46,750 Convertible Promissory Notes with an issuance discount of $4,250 and $2,500 for legal fees that matures on August 12, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $64,723 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.56% The initial fair values of the embedded debt derivative $46,750 was allocated as a debt discount up to the proceeds of the note with the remainder $17,973 was charged to current period operations as interest expense. On September 7, 2016 Company issued an aggregate of $116,000 Convertible Promissory Notes with an issuance cost of $16,000 that matures on September 7, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 50% discount of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $122,726 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.57% The initial fair values of the embedded debt derivative $116,000 was allocated as a debt discount up to the proceeds of the note with the remainder $6,726 was charged to current period operations as interest expense. On September 7, 2016 Company had transferred an aggregate of $50,000 plus accrued interest of $3,919 in Convertible Promissory Notes from one debt holder to another. The transfer was treated as a modification of the Convertible Promissory Notes. The Convertible Promissory Notes matures on September 7, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 50% discount of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. On September 7, 2016 Company issued an aggregate of $32,500 Convertible Promissory Notes that matures on September 16, 2017. These Convertible Promissory Notes were issued as a part of settlement agreement for maturing in total $37,800 of Convertible Promissory Notes and $2,827 of accrued interest. The Company also agreed to pay $50,000 in cash which is included under non-convertible promissory notes as described in Note 7. These notes bear 8% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $53,765 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.57% The initial fair values of the embedded debt derivative $23,816 was allocated as a debt discount towards the proceeds of the note with the remainder $29,949 was charged to current period operations as interest expense. On September 7, 2016 Company issued an aggregate of $75,000 Convertible Promissory Notes that matures on September 16, 2017. These Convertible Promissory Notes were issued as a part of settlement agreement for maturing in total $99,239 of Convertible Promissory Notes and $14,925 of accrued interest. The Company also agreed to pay $160,000 in cash which is included under with the non-convertible promissory notes as described in Note 7. These notes bear 8% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $121,129 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.57% The initial fair values of the embedded debt derivative $54,960 was allocated as a debt discount towards the proceeds of the note with the remainder $66,170 was charged to current period operations as interest expense. On September 8, 2016 Company issued an aggregate of $27,778 Convertible Promissory Notes with issuance cost of $2,778 that matures on September 8, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 50% discount of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $59,408 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.57% The initial fair values of the embedded debt derivative $27,778 was allocated as a debt discount up to the proceeds of the note with the remainder $31,630 was charged to current period operations as interest expense. On September 9, 2016 Company issued an aggregate of $144,100 Convertible Promissory Notes with issuance cost of $19,100 that matures on September 9, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% discount of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $47,089 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.58% The initial fair values of the embedded debt derivative $47,089 was allocated as a debt discount towards the proceeds of the note with the remainder $0.00 was charged to current period operations as interest expense. On September 15, 2016 Company issued an aggregate of $257,778 Convertible Promissory Notes with issuance cost of $25,778 that matures on September 15, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 50% discount of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $88,122 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.60% The initial fair values of the embedded debt derivative $88,122 was allocated as a debt discount towards the proceeds of the note with the remainder $0.00 was charged to current period operations as interest expense. On September 16, 2016 Company issued an aggregate of $25,000 Convertible Promissory Notes that matures on September 16, 2017. These Convertible Promissory Notes were issued as a part of settlement agreement for maturing Convertible Promissory Notes and accrued interest. The Company also agreed to pay $50,000 in cash which is included under the non-convertible promissory notes as described in Note 7. These notes bear 8% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $36,510 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.61% The initial fair values of the embedded debt derivative $13,462 was allocated as a debt discount up to the proceeds of the note with the remainder $23,048 was charged to current period operations as interest expense. On September 16, 2016 Company issued an aggregate of $100,000 Convertible Promissory Notes that matures on September 16, 2017. These Convertible Promissory Notes were issued as a part of settlement agreement for maturing in total $49,197 of Convertible Promissory Notes, $2,426 of accrued interest and warrants. The Company also agreed to pay $50,000 in cash which is included under in conjunctions with the non-convertible promissory notes as described in Note 7. These notes bear 8% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $75,414 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.61% The initial fair values of the embedded debt derivative $53,846 was allocated as a debt discount towards the proceeds of the note with the remainder $21,568 was charged to current period operations as interest expense. On September 19, 2016 Company issued an aggregate of $708,000 Convertible Promissory Notes that matures on September 19, 2017. These Convertible Promissory Notes were issued as a part of settlement agreement for cancellation of outstanding warrants. These notes bear 8% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 60% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $82,535 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.60% The initial fair values of the embedded debt derivative $82,535 was allocated as a debt discount up to the proceeds of the note with the remainder $0.00 was charged to current period operations as interest expense. On September 19, 2016 Company issued an aggregate of $550,000 Convertible Promissory Notes that matures on September 19, 2017. These Convertible Promissory Notes were issued as a part of settlement agreement for cancellation of outstanding Warrants. These notes bear 8% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $82,361 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.60% The initial fair values of the embedded debt derivative $82,361 was allocated as a debt discount up to the proceeds of the note with the remainder $0.00 was charged to current period operations as interest expense. On September 19, 2016 Company issued an aggregate of $140,000 Convertible Promissory Notes that matures on September 19, 2017. These Convertible Promissory Notes were issued as a part of settlement agreement for cancellation of outstanding Warrants. These notes bear 8% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $82,361 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.60% The initial fair values of the embedded debt derivative $82,361 was allocated as a debt discount up to the proceeds of the note with the remainder $0.00 was charged to current period operations as interest expense. On September 27, 2016 Company issued an aggregate of $64,900 Convertible Promissory Notes with issuance cost of $9,900 that matures on September 27, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 65% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $23,828 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.58% The initial fair values of the embedded debt derivative $23,828 was allocated as a debt discount wards the proceeds of the note with the remainder $0.00 was charged to current period operations as interest expense. On September 29, 2016 Company issued an aggregate of $61,112 Convertible Promissory Notes with issuance cost of $6,112 that matures on September 29, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 50% discount of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. The Company identified embedded derivatives related to the Convertible Promissory Notes. These embedded derivatives included certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the Convertible Promissory Note and to adjust the fair value as of each subsequent balance sheet date. At the inception of the Convertible Promissory Note, the Company determined a fair value of $63,730 of the embedded derivative. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.59% The initial fair values of the embedded debt derivative $61,112 was allocated as a debt discount up to the proceeds of the note with the remainder $2,618 was charged to current period operations as interest expense. As a part of settlement agreement for maturing in total $15,768 of Convertible Promissory Notes, $4,505 of accrued interest and warrants valuing $120,500, the Company agreed to pay $150,000 in cash which is included under in conjunctions with the non-convertible promissory notes as described in Note 7. The modification of the Notes was evaluated under FASB Accounting Standards Codification (“ASC”) Topic No. 470-50-40, “Debt Modification and Extinguishments”. Therefore, according to the guidance, the instruments were determined to be substantially different, and the transaction qualified for extinguishment accounting. During the three months ended September 30, 2016, $1,491,082 was recorded as loss on extinguishment of debt due to settlement agreement with note holders. The $1,491,082 consists of net increase in principal of convertible promissory notes of $1,393,027 (net of extinguished interests of $29,098), increase in principal of non-convertible promissory notes of $460,000, extinguished derivative liabilities for debt and warrants with fair values on date of conversion was $250,873 and $111,072 respectively. During the three months period ended September 30, 2016 the Company amortized the debt discount on all the notes of $142,332 to operations as expense including $4,095 for accretion expenses. During the three months period ended September 30, 2015 the Company amortized the debt discount on all the notes of $170,943 to operations as expense. Derivative Liability- Debt The fair value of the described embedded derivative on all debt was valued at $2,847,823 and $1,162,058 at September 30, 2016 and June 30, 2016, respectively, which was determined using the Black Scholes Model with the following assumptions: September 30, 2016 June 30, 2016 Dividend yield: 0% 0% Volatility 240.7 – 341.9% 346.6 – 453.3% Risk free rate: 0.45% % 0.39% The Company adjusted the recorded fair value of the derivative liability on debt to market resulting in non-cash, non-operating loss of $969,083 and $7,589,738 during the three months ended September 30, 2016 and 2015, respectively. During the period ended September 30, 2016 and June 30, 2016 the Company reclassed the derivative liability of $36,147 and $768,175, respectively, to additional paid in capital on conversion of convertible note. The following table provides a summary of changes in fair value of the Company’s Level 3 financial liabilities as of September 30, 2016 and June 30, 2016: Derivative Liability (convertible promissory notes) Balance, June 30, 2015 $ 1,646,448 Initial fair value at note issuances 1,027,009 Fair value of liability at note conversion (768,175 ) Mark-to-market at June 30, 2016 (743,224 ) Balance, June 30, 2016 $ 1,162,058 Initial fair value at note issuances 1,003,702 Fair value of liability at note conversion (36,147 ) Extinguishment of derivative liability (250,873 ) Mark-to-market at September 30, 2016 969,083 Balance, September 30, 2016 $ 2,847,823 Net loss for the year included in earnings relating to the liabilities held at September 30, 2016 $ 969,083 Derivative Liability- Warrants Along with the promissory notes, the Company issued warrants that bear a cashless exercise provision. The warrants also include anti-dilution protection with respect to lower priced issuances of common stock or securities convertible or exchangeable into common stock, which provision resulted in derivative liability treatment under ASC 480. The warrants are recorded at fair value using the Black-Scholes option pricing model and marked-to-market at each reporting period, with the changes in the fair value recorded in the consolidated statement of operations and comprehensive income (loss). During the period ended September 30, 2016 and the year ended June 30, 2016 no warrants were issued along with convertible note. The fair value of the described embedded derivative on all warrants was valued at $338,785 at September 30, 2016 and $268,611 at June 30, 2016 which was determined using the Black Scholes Model with the following assumptions: September 30, 2016 June 30, 2016 Dividend yield: 0% 0% Volatility 240.7 – 290.1% 229.1 – 275.4% Risk free rate: 1.14% 0.71 – 1.01% Warrants Weighted Weighted Outstanding Average Average Exercise Remaining Price life Balance, June 30, 2015 27,092 $ 100.98 3.79 years Exercised (120 ) 280.00 - Issued - - - Expired - - - Cancelled - - - Balance, June 30, 2016 26,972 $ 100.20 2.79 years Exercised - - - Issued - - - Expired - - - Cancelled (10,834 ) 164.80 - Balance, September 30, 2016 16,138 $ 211.60 3.16 years The following table provides a summary of changes in fair value of the Company’s Level 3 financial liabilities as of September 30, 2016 and June 30, 2016: Derivative Liability (warrants) Balance, June 30, 2015 $ 143,375 Initial fair value of warrant derivatives at note issuances - Fair value of warrant exercised (22,476 ) Mark-to-market at June 30, 2016 – warrant liability 147,712 Balance, June 30, 2016 $ 268,611 Fair value of warrant cancelled (111,073 ) Mark-to-market at September 30, 2016 – warrant liability 181,247 Balance, September 30, 2016 $ 338,785 Net loss for the year included in earnings relating to the liabilities held at September 30, 2016 $ 181,247 At September 30, 2016 and 2015 the Company adjusted the recorded fair value of the derivative liability on warrants to market resulting in non-cash, non-operating loss of $181,247 and $852,035 for the three months ended September 30, 2016, and 2015, respectively. During the period ended September 30, 2016 and June 30, 2016 the Company reclassed the derivative liability on warrants of $Nil and $22,476, respectively, to additional paid in capital on exercise of warrants. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Sep. 30, 2016 | |
Related Party Transactions [Text Block] | 9. Related Party Transactions During the period ended September 30, 2016, the Company incurred consulting fees of $Nil (June 30, 2016 - $9,115) with directors and officers out of which there were no stock payments. As of September 30, 2016, the Company repaid to a director for a non-interest bearing demand loan of $Nil (Note 11 (June 30, 2016 – payable $nil). The balance outstanding for this loan is $115,000. These transactions are in the normal course of operations and are measured at the exchange amount of consideration established and agreed to by the related parties. |
Going Concern and Liquidity Con
Going Concern and Liquidity Considerations | 3 Months Ended |
Sep. 30, 2016 | |
Going Concern and Liquidity Considerations [Text Block] | 10. Going Concern and Liquidity Considerations The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As at September 30, 2016, the Company had a working capital deficiency of $5,886,829 (June 30, 2016 - $2,473,600) and an accumulated deficit of $54,027,139 (June 30, 2016 - $50,806,439). The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months. The ability of the Company to emerge from the exploration stage is dependent upon, among other things, obtaining additional financing to continue operations, explore and develop the mineral properties and the discovery, development and sale of ore reserves. In response to these problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies [Text Block] | 11. Commitments and Contingencies Employment Agreements On January 12, 2014, the Company entered into an employment agreement with a director and officer. Commencing on January 12, 2014, the director and officer will be employed for 24 months ending on January 12, 2016. Pursuant to the agreement, annual salary of US$120,000 is payable monthly in cash or if the Company does not have available cash, in shares of the Company’s common stock. Consulting Agreements On January 1, 2014, the Company entered in a consulting agreement with a consultants to provide services as members of the Board of Directors in regards to the Company’s management and operations. The compensation for the services to be provided will be $12,000 payable monthly in cash or if the Company does not have available cash, in shares of the Company’s common stock. The consulting agreement was amended on October 22, 2014 to include an additional aggregate of $30,000 payable as of October 22, 2014 in cash or in shares of the Company’s common stock, and changed the term of agreement from 12 months to 10 months. Effective November 1, 2014, the consultant resigned as member of the Board of Directors. On April 28, 2014, the Company entered into a consulting agreement with a consultant to provide services as members of the Board of Directors in regards to the Company’s management and operations. Pursuant to the terms of the agreement, the consultant will receive compensation of $12,000 in unregistered restricted common shares of the Company's common stock at a deemed value of $200.0 per share, issuable on May 15, 2014, effective April 28, 2014 to April 27, 2015. The consultant resigned as member of the Board of Directors and these shares were not issued. On May 30, 2014, the Company entered into a consulting agreement with a consultant to provide services as member of the Board of Directors in regards to the Company’s management and operation. The compensation for the services to be provided will be $10,000 per month payable in common stock of the Company from a period of six months from the effective date of May 30, 2014. On August 1, 2014, the Company entered into a consulting agreement with a consultant to provide advice relative to corporate and business services and to perform other related activities. Pursuant to the terms of the agreement, the Company will issue 500 common shares of the Company valued at $68,000. These shares were issued in full effective October 22, 2014. Lease Commitment On May 25, 2016, the Company entered into a sublease agreement for a term of twelve months and expiring on May 30, 2017. Future minimum rental payments required under operating lease (exclusive of other additional rent payments) are $8,391. Litigation From time to time we may be a defendant and plaintiff in various other legal proceedings arising in the normal course of our business. Except as disclosed above, we are currently not a party to any material legal proceedings or government actions, including any bankruptcy, receivership, or similar proceedings. In addition, we are not aware of any known litigation or liabilities involving the operators of our properties that could affect our operations. Furthermore, as of the date of this Annual Report, our management is not aware of any proceedings to which any of our directors, officers, or affiliates, or any associate of any such director, officer, affiliate, or security holder is a party adverse to our company or has a material interest adverse to us. |
Discontinued Operations
Discontinued Operations | 3 Months Ended |
Sep. 30, 2016 | |
Discontinued Operations [Text Block] | 12. Discontinued Operations On September 4, 2015, the Company entered into an Asset Purchase agreement whereby the Company sells the net assets of Alta Disposal Morinville Ltd. (of which the Company had acquired 51% interest on October 18, 2013) for total purchase price of CDN$10,000. Operating results for the three months ended September 30, 2016 and 2015 for Alta Disposal Morinville Ltd. are presented as discontinued operations and the assets and liabilities classified as held for sale are presented separately in the unaudited condensed consolidated balance sheet. A breakdown of the discontinued operations is presented as follow: Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss September 30, September 2016 30, 2015 Revenue $ - $ - Selling, general and administrative (31 ) (54,074 ) Loss from discontinued operations $ (31 ) $ (54,074 ) Consolidated Balance Sheets September 30, June 30, 2016 2016 Current assets: Cash and cash equivalents $ 1,261 $ 1,301 Receivable, net 646 651 Prepaid expenses 1,807 1,822 GST Receivable 16,103 16,237 $ 19,817 $ 20,011 Current liabilities: Accounts payable $ 6,368 $ 6,420 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Sep. 30, 2016 | |
Subsequent Events [Text Block] | 13. Subsequent Events The Company has evaluated subsequent events from October 1, 2016, through the date of this report, and determined there are no other items to disclose. Debt Settlement Agreement i. $30,000 on or before January 2, 2017 ii. $30,000 on or before April 19, 2017 Convertible Secured Redeemable Note On October 27, 2016 the Company issued an aggregate of $48,400 Convertible Secured Redeemable Note that matures on October 27, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 50% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. On October 31, 2016 the Company issued an aggregate of $163,334 Convertible Secured Redeemable Note that matures on October 31, 2017. These notes bear 10% interest per annum and the Holder of this Note is entitled, at its option, at any time, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock at a price equal to 50% of the lowest trading price of the Common Stock as reported on the OTC Markets for the twenty prior trading days including the day upon which a Notice of Conversion is received. Conversions Subsequent to September 30, 2016, the following conversions occurred: On October 19, 2016 the Company issued 8,111,620 common shares at a deemed price of $0.0005 per share for promissory note conversion On October 24, 2016 the Company issued 8,100,000 common shares at a deemed price of $0.0005 per share for promissory note conversion On October 25, 2016 the Company issued 8,300,000 common shares at a deemed price of $0.0005 per share for promissory note conversion On October 26, 2016, the Company issued 8,500,000 common shares at a deemed price of $0.0005 per share for promissory note conversion. On October 26, 2016, the Company issued 8,512,760 common shares at a deemed price of $0.0005 per share for promissory note conversion On October 28, 2016, the Company issued 9,734,120 common shares at a deemed price of $0.0005 per share for promissory note conversion. On November 1, 2016, the Company issued 10,300,000 common shares at a deemed price of $0.0005 per share for promissory note conversion. On November 2, 2016, the Company issued 10,661,080 common shares at a deemed price of $0.0005 per share for promissory note conversion. On November 07, 2016, the Company issued 9,734,869 common shares at a deemed price of $0.0005 per share for promissory note conversion On November 09, 2016 the Company issued 12,207,120 common shares at a deemed price of $0.0005 per share for promissory note conversion |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2016 | |
Basis of presentation and consolidation [Policy Text Block] | Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. These interim financial statements as of and for the three months ended September 30, 2016 and 2015 are unaudited; however, in the opinion of management, such statements include all adjustments (consisting of normal recurring accruals)necessary to present fairly the financial position, results of operations and cash flows of the Company for the periods presented. The results for the three months ended September 30, 2016 are not necessarily indicative of the results to be expected for the year ending June 30, 2017 or for any future period. All references to September 30, 2016 and 2015 in these footnotes are unaudited. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and the notes thereto for the year ended June 30, 2016, included in the Company’s annual report on Form 10-K filed with the SEC on October 18, 2016. |
Principal of Consolidation [Policy Text Block] | Principal of Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary Alta Disposal Ltd., its 51% owned subsidiary Alta Disposal Morinville Ltd. (formerly Bluetap Resources Ltd.), and its 100% interest in Black Box Energy. Intercompany accounts and transactions have been eliminated in consolidation in conformity with the applicable accounting framework. Note that no transactions occurred within Black Box Energy as of September 30, 2016. |
Use of Estimates [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. Significant estimates that may materially change in the near term include the valuation of derivative liabilities and the underlying warrants, as well as fair value of investments. |
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $39,839 and $25,208 in cash and cash equivalents at September 30, 2016 and June 30, 2016, respectively. |
Concentration of Risk [Policy Text Block] | Concentration of Risk The Company maintains cash balances at a financial institution which, from time to time, may exceed Federal Deposit Insurance Corporation insured limits for banks located in the US. As of September 30, 2016 and June 30, 2016, the Company had no deposits in excess of federally insured limits in its US bank. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash in bank accounts. |
Prepaid expenses [Policy Text Block] | Prepaid expenses Prepaid expenses consist of security deposit for office lease which will be expensed or refunded at the end of the lease period. |
Start-Up Costs [Policy Text Block] | Start-Up Costs In accordance with FASC 720-15-20 “ Start-Up Costs,” |
Mineral Acquisition and Exploration Costs [Policy Text Block] | Mineral Acquisition and Exploration Costs The Company has been in the exploration stage since its formation on May 31, 2006. It is primarily engaged in the acquisition, exploration, and development of mining properties. Mineral property acquisition and exploration costs are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserves. |
Concentrations of Credit Risk [Policy Text Block] | Concentrations of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. |
Non-controlling Interest [Policy Text Block] | Non-controlling Interest The 49% third party ownership of Alta Disposal Morinville Ltd. (formerly Blue Tap Resources Ltd.) at September 30, 2016 and 2015 are recorded as non-controlling interests in the consolidated financial statements. Details of changes in the non-controlling interests during the year ended June 30, 2016 and period ending September 30, 2016 are reflected in the condensed statement of deficit. |
Related Parties [Policy Text Block] | Related Parties Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all related party transactions. All transactions shall be recorded at fair value of the goods or services exchanged. Property purchased from a related party is recorded at the cost to the related party and any payment to or on behalf of the related party in excess of the cost is reflected as a distribution to related party. |
Net Income or (Loss) per Share of Common Stock [Policy Text Block] | Net Income or (Loss) per Share of Common Stock The Company has adopted FASC Topic No. 260, “ Earnings Per Share Potentially dilutive securities are not presented in the computation of EPS since their effects are anti-dilutive. The total number of potential no. of dilutive shares is 567,742,813 as of September 30, 2016. |
Foreign Currency Translations [Policy Text Block] | Foreign Currency Translations The Company’s functional and reporting currency is the US dollar. All transactions initiated in other currencies are translated into US dollars using the exchange rate prevailing on the date of transaction. Monetary assets and liabilities denominated in foreign currencies are translated into the US dollar at the rate of exchange in effect at the balance sheet date. Unrealized exchange gains and losses arising from such transactions are deferred until realization and are included as a separate component of stockholders’ equity (deficit) as a component of comprehensive income or loss. Upon realization, the amount deferred is recognized in income in the period when it is realized. Translation of Foreign Operations The financial results and position of foreign operations whose functional currency is different from the Company’s presentation currency are translated as follows: Exchange differences arising on translation of foreign operations are transferred directly to the Company’s accumulated other comprehensive loss in the consolidated balance sheets. Transaction gains and losses arising from exchange rate fluctuation on transactions denominated in a currency other than the functional currency are included in the consolidated statements of operations. The relevant translation rates are as follows: For the period ending September 30, 2016 closing rate at 0.7624 CDN$: US$, average rate at 0.7665 CDN$: US$ and for the year ended June 30, 2016 closing rate at 0.769 CDN$: US$, average rate at 0.7761 CDN$: US$. For the period ending September 30, 2015 closing rate at 0.7466 CDN$: US$, average rate at 0.7637 CDN$: US$. |
Comprehensive Income (Loss) [Policy Text Block] | Comprehensive Income (Loss) FASC Topic No. 220, “ Comprehensive Income,” |
Risks and Uncertainties [Policy Text Block] | Risks and Uncertainties The Company operates in the resource exploration industry that is subject to significant risks and uncertainties, including financial, operational, technological, and other risks associated with operating a resource exploration business, including the potential risk of business failure. |
Environmental Expenditures [Policy Text Block] | Environmental Expenditures The operations of the Company have been, and may in the future be, affected from time to time in varying degree by changes in environmental regulations, including those for future reclamation and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company's policy is to meet or, if possible, surpass standards set by relevant legislation by application of technically proven and economically feasible measures. Environmental expenditures that relate to ongoing environmental and reclamation programs are charged against earnings as incurred or capitalized and amortized depending on their future economic benefits. All of these types of expenditures incurred since inception have been charged against earnings due to the uncertainty of their future recoverability. Estimated future reclamation and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries. |
Warrants [Policy Text Block] | Warrants The Company accounts for currently outstanding detachable warrants to purchase common stock as derivative liabilities as they are freestanding derivative financial instruments. The warrants are recorded as derivative liabilities at fair value, estimated using a Black-Scholes option pricing model, and marked to market at each balance sheet date, with changes in the fair value of the derivative liabilities recorded in the consolidated statements of operations and comprehensive loss. Upon exercise of a derivative financial instrument, the instrument is marked to fair value at the conversion date and is reclassified to equity. |
Convertible Instruments [Policy Text Block] | Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with ASC 815 “Derivatives and Hedging”. It provide three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The result of this accounting treatment could be that the fair value of a financial instrument is classified as a derivative financial instrument and is marked-to-market at each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or other expense. Upon conversion or exercise of a derivative financial instrument, the instrument is marked to fair value at the conversion date and is reclassified to equity.The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their earliest date of notes redemption |
Extinguishment of Debt [Policy Text Block] | Extinguishment of Debt ASC 470-50-40, “Debt Modification and Extinguishments Upon determination that debt should be extinguished in accordance with ASC 470-50, the Convertible Promissory Notes and the respective derivative liability are expensed as extinguishment of debt. The Warrants are extinguished in accordance with ASC 815-10. |
Fair Value of Financial Instruments [Policy Text Block] | Fair Value of Financial Instruments ASC 820, “Fair Value Measurements and Disclosures” Level 1 - Quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3 - Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, prepaid expenses, deposit, accounts payable and accrued liabilities, and due to a related party approximate their fair values because of the short maturity of these instruments. The Company’s Level 3 financial liabilities consist of the liability of the Company’s secured convertible promissory notes and debentures issued to investors, and the derivative warrants issued in connection with these convertible promissory notes and debentures. There is no current market for these securities such that the determination of fair value requires significant judgment or estimation. The Company used a fair value model which incorporates transaction details such as Company stock price, contractual terms, maturity, risk free rates, as well as assumptions about future financings, volatility, and holder behavior as of the date of issuance and each balance sheet date. |
Revenue Recognition [Policy Text Block] | Revenue Recognition The Company has generated little revenues to date. It is the Company’s policy that revenue from product sales or services will be recognized in accordance with ASC 605 “Revenue Recognition”. Four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product/services was not delivered or is subject to refund until such time that the Company and the customer jointly determine that the product/service has been delivered or no refund will be required. Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company’s activities. Sales are presented, net of tax, rebates and discounts, and after eliminating intercompany sales. The Company recognizes revenue when the amount of revenue and related cost can be reliably measured and it is probable that the collectability of the related receivables is reasonably assured. During the year ended June 30, 2016 and period ending September 30, 2016, the Company didn’t record any revenue under continuing operation. |
Income Taxes [Policy Text Block] | Income Taxes The Company accounts for income taxes pursuant to the provisions of ASC 740-10, “Income Taxes” which requires, among other things, an asset and liability approach to calculating deferred income taxes. The asset and liability approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. A valuation allowance is provided to offset any net deferred tax assets for which management believes it is more likely than not that the net deferred asset will not be realized. The Company also follows the provisions of ASC 740-10 related to accounting for uncertain income tax positions. When tax returns are filed, some positions taken may be sustained upon examination by the taxing authorities, while others may be subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. As of September 30, 2016, the Company has had no uncertain tax positions. The Company recognizes interest and penalties, if any, related to uncertain tax positions as general and administrative expenses. The Company currently has no federal or state tax examinations nor has it had any federal or state examinations since its inception. |
Receivables [Policy Text Block] | Receivables Trade and other receivables are customer obligations due under normal trade terms and are recorded at face value less any provisions for uncollectible amounts considered necessary. The Company includes any balances that are determined to be uncollectible in its overall allowance for doubtful accounts. The Company recorded $Nil (June 30, 2016 - $Nil) in allowance for doubtful accounts. |
Recent Accounting Pronouncements [Policy Text Block] | Recent Accounting Pronouncements In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-16 - Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory. ASU 2016-16 will require the tax effects of intercompany transactions, other than sales of inventory, to be recognized currently, eliminating an exception under current GAAP in which the tax effects of intra-entity asset transfers are deferred until the transferred asset is sold to a third party or otherwise recovered through use. The guidance will be effective for the first interim period of our 2019 fiscal year, with early adoption permitted. In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ASU No. 2016-15, “Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 provides guidance regarding the classification of certain items within the statements of cash flows. ASU 2016-15 is effective for annual periods beginning after December 15, 2017 with early adoption permitted. In connection with its financial instruments project, the FASB issued ASU 2016-13 - Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments in June 2016 and ASU 2016-01 - Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial Liabilities in January 2016. ASU 2016-13 introduces a new impairment model for most financial assets and certain other instruments. For trade and other receivables, held-to-maturity debt securities, loans and other instruments, entities will be required to use a forward-looking “expected loss” model that will replace the current “incurred loss” model and generally will result in earlier recognition of allowances for losses. The guidance will be effective for the first interim period of our 2021 fiscal year, with early adoption in fiscal year 2020 permitted. ASU 2016-01 addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Among other provisions, the new guidance requires the fair value measurement of investments in certain equity securities. For investments without readily determinable fair values, entities have the option to either measure these investments at fair value or at cost adjusted for changes in observable prices minus impairment. All changes in measurement will be recognized in net income. The guidance will be effective for the first interim period of our 2019 fiscal year. Early adoption is not permitted, except for certain provisions relating to financial liabilities. In January 2016, the FASB issued an accounting standard update which requires, among other things, that entities measure equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) at fair value, with changes in fair value recognized in earnings. Under the standard, entities will no longer be able to recognize unrealized holding gains and losses on equity securities classified today as available for sale as a component of other comprehensive income. For equity investments without readily determinable fair values the cost method of accounting is also eliminated, however subject to certain exceptions, entities will be able to elect to record equity investments without readily determinable fair values at cost, less impairment and plus or minus adjustments for observable price changes, with all such changes recognized in earnings. This new standard does not change the guidance for classifying and measuring investments in debt securities and loans. The standard is effective for us on July 1, 2018 (the first quarter of our 2019 fiscal year). The Company is currently evaluating the anticipated impact of this standard on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Topic 842 affects any entity that enters into a lease, with some specified scope exemptions. The guidance in this Update supersedes Topic 840, Leases. The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For public companies, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the impact of adopting ASU No. 2016-02 on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) that clarifies how to apply revenue recognition guidance related to whether an entity is a principal or an agent. ASU 2016-08 clarifies that the analysis must focus on whether the entity has control of the goods or services before they are transferred to the customer and provides additional guidance about how to apply the control principle when services are provided and when goods or services are combined with other goods or services. The effective date for ASU 2016-08 is the same as the effective date of ASU 2014-09 as amended by ASU 2015-14, for annual reporting periods beginning after December 15, 2017, including interim periods within those years. The Company has not yet determined the impact of ASU 2016-08 on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation – Stock Compensation, or ASU No. 2016-09. The areas for simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures, and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. We are currently evaluating the impact of adopting ASU No. 2016-09 on its consolidated financial statements. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, which provides further guidance on identifying performance obligations and improves the operability and understandability of licensing implementation guidance. The effective date for ASU 2016-10 is the same as the effective date of ASU 2014-09 as amended by ASU 2015-14, for annual reporting periods beginning after December 15, 2017, including interim periods within those years. The Company has not yet determined the impact of ASU 2016-10 on its consolidated financial statements. FASB ASU 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” was issued in June 2016 and clarifies the objective of the collectability criterion, presentation of taxes collected from customers, non-cash consideration, contract modifications at transition, completed contracts at transition and how guidance in Topic 606 is retrospectively applied. The amendments do not change the core principle of the guidance in Topic 606. The effective dates are the same as those for Topic 606. |
Provision for Income Taxes (Tab
Provision for Income Taxes (Tables) | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | For the three months ended September 30, 2016 Amount Tax Effect (35%) Loss before income tax $ 3,220,699 $ 1,127,245 Shares issued for interest expenses (85 ) (30 ) Non-cash interest expense (199,683 ) (69,889 ) Loss on derivative liability - convertible notes and warrants (1,150,330 ) (402,616 ) Loss on extinguishment of liability (1,491,082 ) (521,879 ) Amortization of discount (142,332 ) (49,816 ) Total 237,188 83,016 Valuation allowance (237,188 ) (83,016 ) Net deferred tax asset (liability) $ - $ - | For the three months ended September 30, 2015 Amount Tax Effect (35%) Net loss $ 9,118,667 $ 3,191,533 Non-cash interest expense (346,779 ) (121,373 ) Loss on derivative liability - convertible notes and warrants (8,441,773 ) (2,954,621 ) Amortization of discount (170,943 ) (59,830 ) Impairment (7,637 ) (2,673 ) Total 151,535 53,037 Valuation allowance (151,535 ) (53,037 ) Net deferred tax asset (liability) $ - $ - |
Non- Convertible Promissory N22
Non- Convertible Promissory Notes (Tables) | 3 Months Ended |
Sep. 30, 2016 | |
Schedule of Non-Convertible Promissory Notes [Table Text Block] | June 30, 2016 Reclassification (Transfer) (Payments) As of September 30, 2016 September 7, 2016 $ - $ 210,000 $ (57,000) $ 153,000 September 16, 2016 - 250,000 (75,000) 175,000 Total $ - $ 460,000 $ (132,000) $ 328,000 |
Convertible Promissory Notes (T
Convertible Promissory Notes (Tables) | 3 Months Ended |
Sep. 30, 2016 | |
Schedule of Summary of Convertible Promissory Note [Table Text Block] | June 30, Principal Accretion Note Transfer September 30, 2016 Issued of issuance converted (Loan 2016 cost Extinguished) February 13, 2013 $ 21,908 $ - $ - $ - $ - $ 21,908 July 22, 2014 185,314 - - (8,900 ) - 176,414 August 22, 2014 15,768 - - - (15,768 ) - February 6, 2015 7,150 - - - - 7,150 March 9, 2015 10,220 - - - (10,220 ) - February 24, 2015 76,239 - - - (76,239 ) - August 3, 2015 36,000 - - - - 36,000 September 9, 2015 30,000 - - - - 30,000 September 30, 2015 20,800 - - - (20,800 ) - November 06,2015 12,000 - - - - 12,000 December 01, 2015 36,000 - - - (18,000 ) 18,000 December 03, 2015 17,000 - - - (17,000 ) - January 27, 2016 29,750 - - - (5,000 ) 24,750 February, 1, 2016 49,197 - - - (49,197 ) - March 01, 2016 13,200 - - - - 13,200 March 24, 2016 12,100 - - - - 12,100 March 28, 2016 42,986 - - (2,216 ) (70 ) 40,700 April 19, 2016 197,067 - - - (50,000 ) 147,067 May 16, 2016 30,250 - - - - 30,250 August 12, 2016 - 40,000 848 - - 40,848 September 7, 2016 - 100,000 937 (10,275 ) 161,420 252,082 September 8, 2016 - 25,000 158 - - 25,158 September 9, 2016 - 125,000 1,032 - - 126,032 September 15, 2016 - 232,000 998 - - 232,998 September 16, 2016 - - - - 125,000 125,000 September 19, 2016 - - - - 1,398,000 1,398,000 September 27, 2016 - 110,000 123 - - 110,123 $ 842,950 $ 632,000 $ 4,095 (21,391 ) $ 1,422,126 2,879,780 Less: Unamortized debt discount $ (223,181 ) $ (888,963 ) Total note payable, net of debt discount $ 619,769 $ 1,990,817 Current portion $ 619,769 $ 1,990,817 Long term portion $ - $ - |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | September 30, 2016 June 30, 2016 Dividend yield: 0% 0% Volatility 240.7 – 341.9% 346.6 – 453.3% Risk free rate: 0.45% % 0.39% |
Schedule of Changes in Fair Value of Convertible Promissory Notes [Table Text Block] | Derivative Liability (convertible promissory notes) Balance, June 30, 2015 $ 1,646,448 Initial fair value at note issuances 1,027,009 Fair value of liability at note conversion (768,175 ) Mark-to-market at June 30, 2016 (743,224 ) Balance, June 30, 2016 $ 1,162,058 Initial fair value at note issuances 1,003,702 Fair value of liability at note conversion (36,147 ) Extinguishment of derivative liability (250,873 ) Mark-to-market at September 30, 2016 969,083 Balance, September 30, 2016 $ 2,847,823 Net loss for the year included in earnings relating to the liabilities held at September 30, 2016 $ 969,083 |
Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions [Table Text Block] | September 30, 2016 June 30, 2016 Dividend yield: 0% 0% Volatility 240.7 – 290.1% 229.1 – 275.4% Risk free rate: 1.14% 0.71 – 1.01% |
Schedule of Stockholders' Equity Warrants Activity [Table Text Block] | Warrants Weighted Weighted Outstanding Average Average Exercise Remaining Price life Balance, June 30, 2015 27,092 $ 100.98 3.79 years Exercised (120 ) 280.00 - Issued - - - Expired - - - Cancelled - - - Balance, June 30, 2016 26,972 $ 100.20 2.79 years Exercised - - - Issued - - - Expired - - - Cancelled (10,834 ) 164.80 - Balance, September 30, 2016 16,138 $ 211.60 3.16 years |
Schedule of Changes in Fair Value of Financial Liabilities [Table Text Block] | Derivative Liability (warrants) Balance, June 30, 2015 $ 143,375 Initial fair value of warrant derivatives at note issuances - Fair value of warrant exercised (22,476 ) Mark-to-market at June 30, 2016 – warrant liability 147,712 Balance, June 30, 2016 $ 268,611 Fair value of warrant cancelled (111,073 ) Mark-to-market at September 30, 2016 – warrant liability 181,247 Balance, September 30, 2016 $ 338,785 Net loss for the year included in earnings relating to the liabilities held at September 30, 2016 $ 181,247 |
August 12, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.56% |
September 7, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.57% |
September 7, 2016 Embedded Derivatives (2) [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.57% |
September 7, 2016 Embedded Derivatives (3) [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.57% |
September 8, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.57% |
September 9, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.58% |
September 15, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.60% |
September 16, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.61% |
September 16, 2016 Embedded Derivatives (2) [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.61% |
September 19, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.60% |
September 19, 2016 Embedded Derivatives (2) [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.60% |
September 19, 2016 Embedded Derivatives (3) [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.60% |
September 27, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.58% |
September 29, 2016 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 371.21% Risk free rate: 0.59% |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 3 Months Ended |
Sep. 30, 2016 | |
Schedule of Discontinued Operations, Consolidated Statements of Operations and Comprehensive Loss [Table Text Block] | September 30, September 2016 30, 2015 Revenue $ - $ - Selling, general and administrative (31 ) (54,074 ) Loss from discontinued operations $ (31 ) $ (54,074 ) |
Schedule of Discontinued Operations, Consolidated Balance Sheets [Table Text Block] | Consolidated Balance Sheets September 30, June 30, 2016 2016 Current assets: Cash and cash equivalents $ 1,261 $ 1,301 Receivable, net 646 651 Prepaid expenses 1,807 1,822 GST Receivable 16,103 16,237 $ 19,817 $ 20,011 Current liabilities: Accounts payable $ 6,368 $ 6,420 |
Organization (Narrative) (Detai
Organization (Narrative) (Details) | 3 Months Ended | |
Sep. 30, 2016USD ($) | Sep. 30, 2016CAD | |
Organization 1 | 51.00% | 51.00% |
Organization 2 | CAD | CAD 10,000 | |
Organization 3 | $ | $ 7,466 | |
Organization 4 | 100.00% | 100.00% |
Organization 5 | 50.00% | 50.00% |
Organization 6 | 50.00% | 50.00% |
Organization 7 | 100.00% | 100.00% |
Organization 8 | 100.00% | 100.00% |
Organization 9 | 50.00% | 50.00% |
Organization 10 | 70.00% | 70.00% |
Organization 11 | 20 | 20 |
Organization 12 | 50.00% | 50.00% |
Organization 13 | 100.00% | 100.00% |
Significant Accounting Polici26
Significant Accounting Policies (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Significant Accounting Policies 1 | 51.00% |
Significant Accounting Policies 2 | 100.00% |
Significant Accounting Policies 3 | $ 39,839 |
Significant Accounting Policies 4 | $ 25,208 |
Significant Accounting Policies 5 | 49.00% |
Significant Accounting Policies 6 | 567,742,813 |
Significant Accounting Policies 7 | 0.7624 |
Significant Accounting Policies 8 | 0.7665 |
Significant Accounting Policies 9 | 0.769 |
Significant Accounting Policies 10 | 0.7761 |
Significant Accounting Policies 11 | 0.7466 |
Significant Accounting Policies 12 | 0.7637 |
Significant Accounting Policies 13 | 10.00% |
Significant Accounting Policies 14 | 10.00% |
Significant Accounting Policies 15 | $ 0 |
Significant Accounting Policies 16 | $ 0 |
Capital Stock (Narrative) (Deta
Capital Stock (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($)yr$ / sharesshares | |
Capital Stock 1 | 20 |
Capital Stock 2 | 1 |
Capital Stock 3 | 200 |
Capital Stock 4 | 1 |
Capital Stock 5 | 100,000,000 |
Capital Stock 6 | 100,000,000 |
Capital Stock 7 | $ / shares | $ 0.001 |
Capital Stock 8 | 600,000,000 |
Capital Stock 9 | 500,000,000 |
Capital Stock 10 | $ / shares | $ 0.001 |
Capital Stock 11 | 100,000,000 |
Capital Stock 12 | $ / shares | $ 0.001 |
Capital Stock 13 | 20,000,000 |
Capital Stock 14 | $ / shares | $ 0.001 |
Capital Stock 15 | $ / shares | $ 100 |
Capital Stock 16 | $ | $ 0.001 |
Capital Stock 17 | 2,000,000 |
Capital Stock 18 | $ / shares | $ 0.001 |
Capital Stock 19 | $ | $ 0.001 |
Capital Stock 20 | 1 |
Capital Stock 21 | $ | $ 1 |
Capital Stock 22 | 500,000,000 |
Capital Stock 23 | $ | $ 0.001 |
Capital Stock 24 | 2,000,000,000 |
Capital Stock 25 | $ | $ 0.001 |
Capital Stock 26 | 2,000,000,000 |
Capital Stock 27 | 100,000,000 |
Capital Stock 28 | $ | $ 0.001 |
Capital Stock 29 | 50,000,000 |
Capital Stock 30 | 100,000,000 |
Capital Stock 31 | $ | $ 0.001 |
Capital Stock 32 | 62 |
Capital Stock 33 | yr | 1 |
Capital Stock 34 | 75.00% |
Capital Stock 35 | 2,000,000,000 |
Capital Stock 36 | $ | $ 0.001 |
Capital Stock 37 | 10,000,000,000 |
Capital Stock 38 | $ | $ 0.001 |
Capital Stock 39 | 109,612,491 |
Capital Stock 40 | $ | $ 476,901 |
Capital Stock 41 | 2,577,896 |
Capital Stock 42 | $ | $ 22,476 |
Capital Stock 43 | 42,951,240 |
Capital Stock 44 | $ | $ 21,475 |
Provision for Income Taxes (Nar
Provision for Income Taxes (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Provision For Income Taxes 1 | 740 |
Provision For Income Taxes 2 | 20 |
Provision For Income Taxes 3 | 20 |
Provision For Income Taxes 4 | $ 15,557,413 |
Provision For Income Taxes 5 | 237,188 |
Provision For Income Taxes 6 | $ 795,006 |
Mineral Property Costs (Narrati
Mineral Property Costs (Narrative) (Details) - 3 months ended Sep. 30, 2016 | USD ($)d$ / sharesshares | CADdshares |
Mineral Property Costs 1 | 100.00% | 100.00% |
Mineral Property Costs 2 | $ 90,000 | |
Mineral Property Costs 3 | $ 90,000 | |
Mineral Property Costs 4 | CAD | CAD 40,000 | |
Mineral Property Costs 5 | CAD | 60,000 | |
Mineral Property Costs 6 | CAD | 100,000 | |
Mineral Property Costs 7 | CAD | 300,000 | |
Mineral Property Costs 8 | CAD | 50,000 | |
Mineral Property Costs 9 | CAD | 100,000 | |
Mineral Property Costs 10 | CAD | 20,000 | |
Mineral Property Costs 11 | CAD | CAD 80,000 | |
Mineral Property Costs 12 | 15.00% | 15.00% |
Mineral Property Costs 13 | 15.00% | 15.00% |
Mineral Property Costs 14 | CAD | CAD 80,000 | |
Mineral Property Costs 15 | 75.00% | 75.00% |
Mineral Property Costs 16 | CAD | CAD 100,000 | |
Mineral Property Costs 17 | $ 95,008 | |
Mineral Property Costs 18 | CAD | 20,000 | |
Mineral Property Costs 19 | 19,164 | |
Mineral Property Costs 20 | CAD | 80,000 | |
Mineral Property Costs 21 | 75,844 | |
Mineral Property Costs 22 | CAD | 106,667 | |
Mineral Property Costs 23 | 101,125 | |
Mineral Property Costs 24 | 26,667 | |
Mineral Property Costs 25 | CAD | 3,058 | |
Mineral Property Costs 26 | 2,899 | |
Mineral Property Costs 27 | CAD | 80,000 | |
Mineral Property Costs 28 | 75,844 | |
Mineral Property Costs 29 | CAD | 3,058 | |
Mineral Property Costs 30 | 2,899 | |
Mineral Property Costs 31 | CAD | CAD 83,058 | |
Mineral Property Costs 32 | $ 78,743 | |
Mineral Property Costs 33 | shares | 239 | 239 |
Mineral Property Costs 34 | $ / shares | $ 330 | |
Mineral Property Costs 35 | $ 25,000 | |
Mineral Property Costs 36 | $ 75,000 | |
Mineral Property Costs 37 | d | 180 | 180 |
Mineral Property Costs 38 | $ 700,000 | |
Mineral Property Costs 39 | d | 10 | 10 |
Mineral Property Costs 40 | shares | 500 | 500 |
Mineral Property Costs 41 | $ 1 | |
Mineral Property Costs 42 | shares | 500 | 500 |
Mineral Property Costs 43 | $ 4,940,000 | |
Mineral Property Costs 44 | shares | 500 | 500 |
Mineral Property Costs 45 | $ 2 | |
Mineral Property Costs 46 | 150,000 | |
Mineral Property Costs 47 | $ 15,000 | |
Mineral Property Costs 48 | shares | 10,000 | 10,000 |
Mineral Property Costs 49 | 25 | 25 |
Mineral Property Costs 50 | $ 20,000 | |
Mineral Property Costs 51 | $ 30,000 |
Deposits in PetroChase, Inc. (N
Deposits in PetroChase, Inc. (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($)d | |
Deposits In Petrochase, Inc. 1 | 100.00% |
Deposits In Petrochase, Inc. 2 | 50.00% |
Deposits In Petrochase, Inc. 3 | 50.00% |
Deposits In Petrochase, Inc. 4 | $ 125,000 |
Deposits In Petrochase, Inc. 5 | 125,000 |
Deposits In Petrochase, Inc. 6 | $ 30,000 |
Deposits In Petrochase, Inc. 7 | d | 90 |
Non- Convertible Promissory N31
Non- Convertible Promissory Notes (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Non-convertible Promissory Notes 1 | $ 252,856 |
Non-convertible Promissory Notes 2 | 195,500 |
Non-convertible Promissory Notes 3 | $ 460,000 |
Convertible Promissory Notes (N
Convertible Promissory Notes (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Convertible Promissory Notes 1 | $ 46,750 |
Convertible Promissory Notes 2 | 4,250 |
Convertible Promissory Notes 3 | $ 2,500 |
Convertible Promissory Notes 4 | 10.00% |
Convertible Promissory Notes 5 | 65.00% |
Convertible Promissory Notes 6 | $ 64,723 |
Convertible Promissory Notes 7 | 46,750 |
Convertible Promissory Notes 8 | 17,973 |
Convertible Promissory Notes 9 | 116,000 |
Convertible Promissory Notes 10 | $ 16,000 |
Convertible Promissory Notes 11 | 10.00% |
Convertible Promissory Notes 12 | 50.00% |
Convertible Promissory Notes 13 | $ 122,726 |
Convertible Promissory Notes 17 | 116,000 |
Convertible Promissory Notes 18 | 6,726 |
Convertible Promissory Notes 19 | 50,000 |
Convertible Promissory Notes 20 | $ 3,919 |
Convertible Promissory Notes 21 | 10.00% |
Convertible Promissory Notes 22 | 50.00% |
Convertible Promissory Notes 23 | $ 32,500 |
Convertible Promissory Notes 24 | 37,800 |
Convertible Promissory Notes 25 | 2,827 |
Convertible Promissory Notes 26 | $ 50,000 |
Convertible Promissory Notes 27 | 8.00% |
Convertible Promissory Notes 28 | 65.00% |
Convertible Promissory Notes 29 | $ 53,765 |
Convertible Promissory Notes 33 | 23,816 |
Convertible Promissory Notes 34 | 29,949 |
Convertible Promissory Notes 35 | 75,000 |
Convertible Promissory Notes 36 | 99,239 |
Convertible Promissory Notes 37 | 14,925 |
Convertible Promissory Notes 38 | $ 160,000 |
Convertible Promissory Notes 39 | 8.00% |
Convertible Promissory Notes 40 | 65.00% |
Convertible Promissory Notes 41 | $ 121,129 |
Convertible Promissory Notes 45 | 54,960 |
Convertible Promissory Notes 46 | 66,170 |
Convertible Promissory Notes 47 | 27,778 |
Convertible Promissory Notes 48 | $ 2,778 |
Convertible Promissory Notes 49 | 10.00% |
Convertible Promissory Notes 50 | 50.00% |
Convertible Promissory Notes 51 | $ 59,408 |
Convertible Promissory Notes 55 | 27,778 |
Convertible Promissory Notes 56 | 31,630 |
Convertible Promissory Notes 57 | 144,100 |
Convertible Promissory Notes 58 | $ 19,100 |
Convertible Promissory Notes 59 | 10.00% |
Convertible Promissory Notes 60 | 65.00% |
Convertible Promissory Notes 61 | $ 47,089 |
Convertible Promissory Notes 65 | 47,089 |
Convertible Promissory Notes 66 | 0 |
Convertible Promissory Notes 67 | 257,778 |
Convertible Promissory Notes 68 | $ 25,778 |
Convertible Promissory Notes 69 | 10.00% |
Convertible Promissory Notes 70 | 50.00% |
Convertible Promissory Notes 71 | $ 88,122 |
Convertible Promissory Notes 75 | 88,122 |
Convertible Promissory Notes 76 | 0 |
Convertible Promissory Notes 77 | 25,000 |
Convertible Promissory Notes 78 | $ 50,000 |
Convertible Promissory Notes 79 | 8.00% |
Convertible Promissory Notes 80 | 65.00% |
Convertible Promissory Notes 81 | $ 36,510 |
Convertible Promissory Notes 85 | 13,462 |
Convertible Promissory Notes 86 | 23,048 |
Convertible Promissory Notes 87 | 100,000 |
Convertible Promissory Notes 88 | 49,197 |
Convertible Promissory Notes 89 | 2,426 |
Convertible Promissory Notes 90 | $ 50,000 |
Convertible Promissory Notes 91 | 8.00% |
Convertible Promissory Notes 92 | 65.00% |
Convertible Promissory Notes 93 | $ 75,414 |
Convertible Promissory Notes 97 | 53,846 |
Convertible Promissory Notes 98 | 21,568 |
Convertible Promissory Notes 99 | $ 708,000 |
Convertible Promissory Notes 100 | 8.00% |
Convertible Promissory Notes 101 | 60.00% |
Convertible Promissory Notes 102 | $ 82,535 |
Convertible Promissory Notes 106 | 82,535 |
Convertible Promissory Notes 107 | 0 |
Convertible Promissory Notes 108 | $ 550,000 |
Convertible Promissory Notes 109 | 8.00% |
Convertible Promissory Notes 110 | 65.00% |
Convertible Promissory Notes 111 | $ 82,361 |
Convertible Promissory Notes 115 | 82,361 |
Convertible Promissory Notes 116 | 0 |
Convertible Promissory Notes 117 | $ 140,000 |
Convertible Promissory Notes 118 | 8.00% |
Convertible Promissory Notes 119 | 65.00% |
Convertible Promissory Notes 120 | $ 82,361 |
Convertible Promissory Notes 124 | 82,361 |
Convertible Promissory Notes 125 | 0 |
Convertible Promissory Notes 126 | 64,900 |
Convertible Promissory Notes 127 | $ 9,900 |
Convertible Promissory Notes 128 | 10.00% |
Convertible Promissory Notes 129 | 65.00% |
Convertible Promissory Notes 130 | $ 23,828 |
Convertible Promissory Notes 134 | 23,828 |
Convertible Promissory Notes 135 | 0 |
Convertible Promissory Notes 136 | 61,112 |
Convertible Promissory Notes 137 | $ 6,112 |
Convertible Promissory Notes 138 | 10.00% |
Convertible Promissory Notes 139 | 50.00% |
Convertible Promissory Notes 140 | $ 63,730 |
Convertible Promissory Notes 144 | 61,112 |
Convertible Promissory Notes 145 | 2,618 |
Convertible Promissory Notes 146 | 15,768 |
Convertible Promissory Notes 147 | 4,505 |
Convertible Promissory Notes 148 | 120,500 |
Convertible Promissory Notes 149 | 150,000 |
Convertible Promissory Notes 150 | 1,491,082 |
Convertible Promissory Notes 151 | 1,491,082 |
Convertible Promissory Notes 152 | 1,393,027 |
Convertible Promissory Notes 153 | 29,098 |
Convertible Promissory Notes 154 | 460,000 |
Convertible Promissory Notes 155 | 250,873 |
Convertible Promissory Notes 156 | 111,072 |
Convertible Promissory Notes 157 | 142,332 |
Convertible Promissory Notes 158 | 4,095 |
Convertible Promissory Notes 159 | 170,943 |
Convertible Promissory Notes 160 | 2,847,823 |
Convertible Promissory Notes 161 | 1,162,058 |
Convertible Promissory Notes 162 | 969,083 |
Convertible Promissory Notes 163 | 7,589,738 |
Convertible Promissory Notes 164 | 36,147 |
Convertible Promissory Notes 165 | 768,175 |
Convertible Promissory Notes 167 | 338,785 |
Convertible Promissory Notes 168 | 268,611 |
Convertible Promissory Notes 169 | 181,247 |
Convertible Promissory Notes 170 | 852,035 |
Convertible Promissory Notes 171 | 0 |
Convertible Promissory Notes 172 | $ 22,476 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Related Party Transactions 1 | $ 0 |
Related Party Transactions 2 | 9,115 |
Related Party Transactions 3 | 0 |
Related Party Transactions 4 | 0 |
Related Party Transactions 5 | $ 115,000 |
Going Concern and Liquidity C34
Going Concern and Liquidity Considerations (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Going Concern And Liquidity Considerations 1 | $ 5,886,829 |
Going Concern And Liquidity Considerations 2 | 2,473,600 |
Going Concern And Liquidity Considerations 3 | 54,027,139 |
Going Concern And Liquidity Considerations 4 | $ 50,806,439 |
Commitments and Contingencies (
Commitments and Contingencies (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($)mo$ / shares$ / moshares | |
Commitments And Contingencies 1 | mo | 24 |
Commitments And Contingencies 2 | $ 120,000 |
Commitments And Contingencies 3 | 12,000 |
Commitments And Contingencies 4 | $ 30,000 |
Commitments And Contingencies 5 | mo | 12 |
Commitments And Contingencies 6 | mo | 10 |
Commitments And Contingencies 7 | $ 12,000 |
Commitments And Contingencies 8 | $ / shares | $ 200 |
Commitments And Contingencies 9 | $ / mo | 10,000 |
Commitments And Contingencies 10 | shares | 500 |
Commitments And Contingencies 11 | $ 68,000 |
Commitments And Contingencies 12 | $ 8,391 |
Discontinued Operations (Narrat
Discontinued Operations (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016CAD | |
Discontinued Operations 1 | 51.00% |
Discontinued Operations 2 | CAD 10,000 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) | 3 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Subsequent Events 1 | $ | $ 60,000 |
Subsequent Events 2 | $ | 30,000 |
Subsequent Events 3 | $ | 30,000 |
Subsequent Events 4 | $ | $ 35,000 |
Subsequent Events 5 | 8.00% |
Subsequent Events 6 | 65.00% |
Subsequent Events 7 | $ | $ 48,400 |
Subsequent Events 8 | 10.00% |
Subsequent Events 9 | 50.00% |
Subsequent Events 10 | $ | $ 163,334 |
Subsequent Events 11 | 10.00% |
Subsequent Events 12 | 50.00% |
Subsequent Events 13 | shares | 8,111,620 |
Subsequent Events 14 | $ / shares | $ 0.0005 |
Subsequent Events 15 | shares | 8,100,000 |
Subsequent Events 16 | $ / shares | $ 0.0005 |
Subsequent Events 17 | shares | 8,300,000 |
Subsequent Events 18 | $ / shares | $ 0.0005 |
Subsequent Events 19 | shares | 8,500,000 |
Subsequent Events 20 | $ / shares | $ 0.0005 |
Subsequent Events 21 | shares | 8,512,760 |
Subsequent Events 22 | $ / shares | $ 0.0005 |
Subsequent Events 23 | shares | 9,734,120 |
Subsequent Events 24 | $ / shares | $ 0.0005 |
Subsequent Events 25 | shares | 10,300,000 |
Subsequent Events 26 | $ / shares | $ 0.0005 |
Subsequent Events 27 | shares | 10,661,080 |
Subsequent Events 28 | $ / shares | $ 0.0005 |
Subsequent Events 29 | shares | 9,734,869 |
Subsequent Events 30 | $ / shares | $ 0.0005 |
Subsequent Events 31 | shares | 12,207,120 |
Subsequent Events 32 | $ / shares | $ 0.0005 |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 1 | $ 3,220,699 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 2 | 1,127,245 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 3 | (85) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 4 | (30) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 5 | (199,683) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 6 | (69,889) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 7 | (1,150,330) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 8 | (402,616) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 9 | (1,491,082) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 10 | (521,879) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 11 | (142,332) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 12 | (49,816) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 13 | 237,188 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 14 | 83,016 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 15 | (237,188) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 16 | (83,016) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 17 | 0 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 18 | $ 0 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 1 | $ 9,118,667 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 2 | 3,191,533 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 3 | (346,779) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 4 | (121,373) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 5 | (8,441,773) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 6 | (2,954,621) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 7 | (170,943) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 8 | (59,830) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 9 | (7,637) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 10 | (2,673) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 11 | 151,535 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 12 | 53,037 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 13 | (151,535) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 14 | (53,037) | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 15 | 0 | |
Provision For Income Taxes Schedule Of Deferred Tax Assets And Liabilities 16 | $ 0 |
Schedule of Non-Convertible Pro
Schedule of Non-Convertible Promissory Notes (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 1 | $ 0 |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 2 | 210,000 |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 3 | (57,000) |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 4 | 153,000 |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 5 | 0 |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 6 | 250,000 |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 7 | (75,000) |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 8 | 175,000 |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 9 | 0 |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 10 | 460,000 |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 11 | (132,000) |
Non-convertible Promissory Notes Schedule Of Non-convertible Promissory Notes 12 | $ 328,000 |
Schedule of Summary of Converti
Schedule of Summary of Convertible Promissory Note (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 1 | $ 21,908 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 2 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 3 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 4 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 5 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 6 | 21,908 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 7 | 185,314 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 8 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 9 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 10 | (8,900) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 11 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 12 | 176,414 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 13 | 15,768 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 14 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 15 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 16 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 17 | (15,768) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 18 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 19 | 7,150 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 20 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 21 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 22 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 23 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 24 | 7,150 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 25 | 10,220 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 26 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 27 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 28 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 29 | (10,220) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 30 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 31 | 76,239 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 32 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 33 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 34 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 35 | (76,239) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 36 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 37 | 36,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 38 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 39 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 40 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 41 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 42 | 36,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 43 | 30,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 44 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 45 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 46 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 47 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 48 | 30,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 49 | 20,800 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 50 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 51 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 52 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 53 | (20,800) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 54 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 55 | 12,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 56 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 57 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 58 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 59 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 60 | 12,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 61 | 36,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 62 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 63 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 64 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 65 | (18,000) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 66 | 18,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 67 | 17,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 68 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 69 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 70 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 71 | (17,000) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 72 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 73 | 29,750 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 74 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 75 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 76 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 77 | (5,000) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 78 | 24,750 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 79 | 49,197 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 80 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 81 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 82 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 83 | (49,197) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 84 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 85 | 13,200 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 86 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 87 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 88 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 89 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 90 | 13,200 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 91 | 12,100 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 92 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 93 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 94 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 95 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 96 | 12,100 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 97 | 42,986 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 98 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 99 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 100 | (2,216) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 101 | (70) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 102 | 40,700 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 103 | 197,067 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 104 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 105 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 106 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 107 | (50,000) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 108 | 147,067 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 109 | 30,250 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 110 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 111 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 112 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 113 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 114 | 30,250 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 115 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 116 | 40,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 117 | 848 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 118 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 119 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 120 | 40,848 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 121 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 122 | 100,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 123 | 937 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 124 | (10,275) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 125 | 161,420 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 126 | 252,082 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 127 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 128 | 25,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 129 | 158 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 130 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 131 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 132 | 25,158 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 133 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 134 | 125,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 135 | 1,032 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 136 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 137 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 138 | 126,032 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 139 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 140 | 232,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 141 | 998 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 142 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 143 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 144 | 232,998 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 145 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 146 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 147 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 148 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 149 | 125,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 150 | 125,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 151 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 152 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 153 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 154 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 155 | 1,398,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 156 | 1,398,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 157 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 158 | 110,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 159 | 123 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 160 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 161 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 162 | 110,123 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 163 | 842,950 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 164 | 632,000 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 165 | 4,095 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 166 | (21,391) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 167 | 1,422,126 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 168 | 2,879,780 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 169 | (223,181) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 170 | (888,963) |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 171 | 619,769 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 172 | 1,990,817 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 173 | 619,769 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 174 | 1,990,817 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 175 | 0 |
Convertible Promissory Notes Schedule Of Summary Of Convertible Promissory Note 176 | $ 0 |
Schedule of Valuation Assumptio
Schedule of Valuation Assumptions (Details) | 3 Months Ended |
Sep. 30, 2016 | |
August 12, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0 |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 371.21 |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.56 |
September 7, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.57% |
September 7, 2016 Embedded Derivatives (2) [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.57% |
September 7, 2016 Embedded Derivatives (3) [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.57% |
September 8, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.57% |
September 9, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.58% |
September 15, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.60% |
September 16, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.61% |
September 16, 2016 Embedded Derivatives (2) [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.61% |
September 19, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.60% |
September 19, 2016 Embedded Derivatives (2) [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.60% |
September 19, 2016 Embedded Derivatives (3) [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.60% |
September 27, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.58% |
September 29, 2016 Embedded Derivatives [Member] | |
Convertible Promissory Notes Schedule Of Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 2 | 371.21% |
Convertible Promissory Notes Schedule Of Valuation Assumptions 3 | 0.59% |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 2 | 0.00% |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 3 | 240.7 |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 4 | 341.90% |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 5 | 346.6 |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 6 | $ 0 |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 7 | 453.30% |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 8 | 0.45% |
Convertible Promissory Notes Schedule Of Share-based Payment Award, Stock Options, Valuation Assumptions 9 | 0.39% |
Schedule of Changes in Fair Val
Schedule of Changes in Fair Value of Convertible Promissory Notes (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 1 | $ 1,646,448 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 2 | 1,027,009 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 3 | (768,175) |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 4 | (743,224) |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 5 | 1,162,058 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 6 | 1,003,702 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 7 | (36,147) |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 8 | (250,873) |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 9 | 969,083 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 10 | 2,847,823 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Convertible Promissory Notes 11 | $ 969,083 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions (Details) | 3 Months Ended |
Sep. 30, 2016 | |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 1 | 0.00% |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 2 | 0.00% |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 3 | 240.7 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 4 | 290.10% |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 5 | 229.1 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 6 | 275.40% |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 7 | 1.14% |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 8 | 0.71 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 9 | 1.01% |
Schedule of Stockholders' Equ45
Schedule of Stockholders' Equity Warrants Activity (Details) | 3 Months Ended |
Sep. 30, 2016USD ($)yr | |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 1 | $ 27,092 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 2 | 100.98 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 3 | yr | 3.79 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 4 | $ (120) |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 5 | 280 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 6 | $ 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 7 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 8 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 9 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 10 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 11 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 12 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 13 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 14 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 15 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 16 | $ 26,972 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 17 | 100.20 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 18 | yr | 2.79 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 19 | $ 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 20 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 21 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 22 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 23 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 24 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 25 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 26 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 27 | 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 28 | $ (10,834) |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 29 | 164.80 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 30 | $ 0 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 31 | $ 16,138 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 32 | 211.60 |
Convertible Promissory Notes Schedule Of Stockholders' Equity Warrants Activity 33 | yr | 3.16 |
Schedule of Changes in Fair V46
Schedule of Changes in Fair Value of Financial Liabilities (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 1 | $ 143,375 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 2 | 0 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 3 | (22,476) |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 4 | 147,712 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 5 | 268,611 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 6 | (111,073) |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 7 | 181,247 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 8 | 338,785 |
Convertible Promissory Notes Schedule Of Changes In Fair Value Of Financial Liabilities 9 | $ 181,247 |
Schedule of Discontinued Operat
Schedule of Discontinued Operations, Consolidated Statements of Operations and Comprehensive Loss (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Statements Of Operations And Comprehensive Loss 1 | $ 0 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Statements Of Operations And Comprehensive Loss 2 | 0 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Statements Of Operations And Comprehensive Loss 3 | (31) |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Statements Of Operations And Comprehensive Loss 4 | (54,074) |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Statements Of Operations And Comprehensive Loss 5 | (31) |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Statements Of Operations And Comprehensive Loss 6 | $ (54,074) |
Schedule of Discontinued Oper48
Schedule of Discontinued Operations, Consolidated Balance Sheets (Details) | 3 Months Ended |
Sep. 30, 2016USD ($) | |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 1 | $ 1,261 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 2 | 1,301 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 3 | 646 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 4 | 651 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 5 | 1,807 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 6 | 1,822 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 7 | 16,103 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 8 | 16,237 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 9 | 19,817 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 10 | 20,011 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 11 | 6,368 |
Discontinued Operations Schedule Of Discontinued Operations, Consolidated Balance Sheets 12 | $ 6,420 |