Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Mar. 31, 2018 | May 22, 2018 | |
Document Type | 10-Q | |
Amendment Flag | true | |
Amendment Description | The Original Filing missed certain changes as part of the Edgarization process and was mistakenly approved for filing before those were identified. Therefore, the Company deems it necessary to amend the Original Filing in its entirety in order to capture all of those changes. | |
Document Period End Date | Mar. 31, 2018 | |
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 | 44,290,588 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Mar. 31, 2018 | Jun. 30, 2017 |
Current | ||
Cash and cash equivalents | $ 51,248 | $ 33,136 |
Prepaid expenses | 1,100 | 1,100 |
Current assets held for sale | 19,840 | 19,852 |
Total current assets | 72,188 | 54,088 |
Advances to WhiteTop | 879,620 | 783,620 |
Total Assets | 951,808 | 837,708 |
Current | ||
Accounts payable and accrued liabilities | 104,929 | 90,864 |
Derivative liability - convertible promissory notes | 1,741,933 | 3,386,251 |
Derivative liability - warrants | 270,885 | 338,873 |
Due to related party | 115,000 | 115,000 |
Short-term notes payable | 15,000 | 0 |
Convertible promissory notes - net of unamortized debt discount | 3,329,219 | 2,841,109 |
Accrued interest - convertible promissory notes | 397,605 | 210,202 |
Current liabilities held for sale | 6,481 | 6,429 |
Total Current Liabilities | 5,981,052 | 6,988,728 |
Long-term convertible promissory notes | 46,083 | 0 |
DEFICIT | ||
Capital stock Authorized: 500,000 preferred shares, $0.001 par value 50,000,000 common shares, $0.001 par value Issued and outstanding: 350,000 Series C Preferred shares (June 30, 2017 - Nill) | 350 | 0 |
39,378,325 common shares (June 30, 2017 - 13,245,760) | 39,378 | 13,246 |
Additional paid-in capital | 54,811,810 | 51,905,254 |
Accumulated other comprehensive loss | (33,757) | (33,890) |
Accumulated deficit | (59,540,956) | (57,683,563) |
Total Lithium Exploration Group, Inc. Stockholders' Deficit | (4,723,175) | (5,798,953) |
Non-Controlling Interest | (352,152) | (352,067) |
Total Deficit | (5,075,327) | (6,151,020) |
Total Liabilities and Deficit | $ 951,808 | $ 837,708 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2018 | Jun. 30, 2017 |
Preferred Stock, Shares Authorized | 500,000 | 500,000 |
Preferred Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 350,000 | |
Preferred Stock, Shares Outstanding | 350,000 | |
Common Stock, Shares, Issued | 39,378,325 | 13,245,760 |
Common Stock, Shares, Outstanding | 39,378,325 | 13,245,760 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Revenue | $ 0 | $ 0 | $ 0 | $ 0 |
Operating Expenses: | ||||
Mining expenses | 0 | 50,160 | 25,000 | 87,792 |
Selling, general and administrative | 153,517 | 311,970 | 604,810 | 754,436 |
Total operating expenses | 153,517 | 362,130 | 629,810 | 842,228 |
Loss from operations | (153,517) | (362,130) | (629,810) | (842,228) |
Other income (expenses) | ||||
Interest expense | (241,628) | (2,067,330) | (913,427) | (2,463,008) |
Gain (loss) on change in the fair value of derivative liability | 1,057,775 | (90,017) | 1,746,809 | 68,275 |
Amortization of debt discount | (537,659) | (597,871) | (2,022,488) | (1,144,229) |
Loss on settlement of warrants | 0 | (42,944) | 0 | (42,944) |
Other income | 0 | 0 | 70,472 | 0 |
Gain (loss) on extinguishment of liability | 0 | 12,400 | (108,860) | (1,527,301) |
Total Other income (expenses) | 278,488 | (2,785,762) | (1,227,494) | (5,109,207) |
Income (loss) before income taxes | 124,971 | (3,147,892) | (1,857,304) | (5,951,435) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net income (loss) from continuing operations | 124,971 | (3,147,892) | (1,857,304) | (5,951,435) |
Loss from discontinued operations | (79) | (61) | (174) | (141) |
Net income (loss) | 124,892 | (3,147,953) | (1,857,478) | (5,951,576) |
Less: Net loss attributable to the non-controlling interest | (38) | (30) | (85) | (69) |
Net income (loss) attributable to Lithium Exploration Group, Inc. common shareholder | $ 124,930 | $ (3,147,923) | $ (1,857,393) | $ (5,951,507) |
Basic Loss per Common Share from continuing operations | $ 0.01 | $ (0.70) | $ (0.06) | $ (2.75) |
Diluted Net Income per Common Share from continuing operations | 0 | (0.70) | (0.06) | (2.75) |
Basic and Diluted Loss per Common Share from discontinued operations | $ 0 | $ 0 | $ 0 | $ 0 |
Basic Weighted Average Number of Common Shares Outstanding | 22,791,792 | 4,491,068 | 32,257,687 | 2,163,073 |
Diluted Weighted Average Number of Common Shares Outstanding | 172,946,091 | 4,491,068 | 32,257,687 | 2,163,073 |
Comprehensive loss: | ||||
Net income (loss) | $ 124,892 | $ (3,147,953) | $ (1,857,478) | $ (5,951,576) |
Foreign currency translation adjustment | (438) | 196 | 133 | (253) |
Comprehensive income (loss): | 124,454 | (3,147,757) | (1,857,345) | (5,951,829) |
Comprehensive loss attributable to non-controlling interest | (38) | (30) | (85) | (69) |
Comprehensive income (loss) attributable to Lithium Exploration Group, Inc. common shareholders | $ 124,492 | $ (3,147,727) | $ (1,857,260) | $ (5,951,760) |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIT - USD ($) | Preferred Shares [Member] | 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 | $ 599 | $ 48,717,947 | $ (33,731) | $ (50,806,439) | $ (351,976) | $ (2,473,600) | |
Beginning Balance (Shares) at Jun. 30, 2016 | 598,864 | ||||||
Common shares issued for debt conversion and interest | $ 11,697 | 1,255,122 | 1,266,819 | ||||
Common shares issued for debt conversion and interest (Shares) | 11,696,896 | ||||||
Derivative liability transferred to paid in capital on conversion of note | 1,818,596 | 1,818,596 | |||||
Common shares issued for exercise of warrants | $ 950 | 113,589 | 114,539 | ||||
Common shares issued for exercise of warrants (Shares) | 950,000 | ||||||
Foreign exchange translation | (159) | (159) | |||||
Net loss for the period | (6,877,124) | (91) | (6,877,215) | ||||
Ending Balance at Jun. 30, 2017 | $ 13,246 | 51,905,254 | (33,890) | (57,683,563) | (352,067) | (6,151,020) | |
Ending Balance (Shares) at Jun. 30, 2017 | 13,245,760 | ||||||
Common shares issued for debt conversion and interest | $ 26,064 | 1,027,558 | 1,053,622 | ||||
Common shares issued for debt conversion and interest (Shares) | 26,063,900 | ||||||
Common shares issued for accounts payable | $ 58 | 8,108 | 8,166 | ||||
Common shares issued for accounts payable (Shares) | 58,333 | ||||||
Preferred shares issued for settlement of debt and accrued interest | $ 350 | 756,997 | 757,347 | ||||
Preferred shares issued for settlement of debt and accrued interest (Shares) | 350,000 | ||||||
Derivative liability transferred to paid in capital on conversion of note | 1,113,903 | 1,113,903 | |||||
Foreign exchange translation | 133 | 133 | |||||
Net loss for the period | (1,857,393) | (85) | (1,857,478) | ||||
Rounding related to reverse stock split | $ 10 | (10) | |||||
Rounding related to reverse stock split (Shares) | 10,332 | ||||||
Ending Balance at Mar. 31, 2018 | $ 350 | $ 39,378 | $ 54,811,810 | $ (33,757) | $ (59,540,956) | $ (352,152) | $ (5,075,327) |
Ending Balance (Shares) at Mar. 31, 2018 | 350,000 | 39,378,325 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash Flows from Operating Activities | ||
Net loss from continuing operations | $ (1,857,304) | $ (5,951,435) |
Loss from discontinued operations | (174) | (141) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Non-cash Interest expense | 525,665 | 2,229,270 |
Common shares issued for interest | 0 | 75,633 |
Loss on settlement of debt | 0 | 42,944 |
(Gain) on change in the fair value of derivative liability | (1,746,809) | (68,275) |
Amortization of debt discount | 2,022,488 | 1,144,229 |
Loss on extinguishment of debt and derivative liabilities | 108,860 | 1,527,301 |
Expenses incurred by convertible note holder | 11,000 | 0 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 0 | 1,688 |
Accrued interest | 295,752 | 148,741 |
Accounts payable and accrued liabilities | 22,391 | (52,164) |
Net cash used in operating activities from continuing operations | (618,131) | (902,209) |
Net cash provided by (used in) operating activities from discontinued operations | 64 | 375 |
Net cash used in operating activities | (618,067) | (901,834) |
Cash Flows from Investing Activities | ||
Investment in PetroChase, Inc. | 0 | (250,000) |
Advances to WhiteTop | (96,000) | 0 |
Net cash used in investing activities | (96,000) | (250,000) |
Cash Flows from Financing Activities | ||
Proceed from issuance of convertible promissory notes, net | 753,000 | 1,323,100 |
Repayment of convertible promissory notes | (35,954) | 0 |
Proceed from issuance of short-term notes payable | 105,000 | 0 |
Repayment of short-term notes payable | (90,000) | 0 |
Net cash provided by financing activities | 732,046 | 1,323,100 |
Effect of foreign currency exchange | 133 | (253) |
Increase (decrease) in cash and cash equivalents | 18,112 | 171,013 |
Cash and cash equivalents - beginning of period | 33,136 | 25,208 |
Cash and cash equivalents - end of period | 51,248 | 196,221 |
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 | 1,053,622 | 688,996 |
Common stock issued for accounts payable | 8,166 | 0 |
Preferred stock issued for debt settlement | 757,347 | 0 |
Derivative liability re-classed to additional paid in capital | 1,113,903 | 1,471,967 |
Debt discount on issuance of convertible note and warrants | 656,785 | 2,218,019 |
Initial derivative liability on note and warrant issuance | 1,148,235 | 4,447,289 |
Interest reclassed to convertible note | $ 0 | $ 158,778 |
ORGANIZATION
ORGANIZATION | 9 Months Ended |
Mar. 31, 2018 | |
ORGANIZATION [Text Block] | NOTE 1 - ORGANIZATION Lithium Exploration Group, Inc. (the “Company”) is a U.S.-based exploration and development company that had been focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently the company is focused testing its SonCav Technology for use in the oil and gas industry and the acquisition of oil and gas related assets in Western Canada and Southwest Louisiana. The Company was incorporated on May 31, 2006 in the State of Nevada under the name “Mariposa Resources, Ltd.” Effective November 30, 2010, it 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. As used in this Quarterly Report on Form 10-Q and the accompanying unaudited condensed consolidated financial statements and notes, and unless otherwise indicated, the terms “we,” “us,” “our” or the “Company” refer to Lithium Exploration Group, Inc. a Nevada corporation, including our wholly-owned subsidiaries, Alta Disposal Ltd., an Alberta, Canada corporation (“Alta Disposal”), Black Box Energy, Inc., a Nevada corporation (“Black Box Energy”), and our 51% owned subsidiary, Alta Disposal Morinville Ltd., (formerly Bluetap Resources, Ltd.) an Alberta, Canada corporation (“ADM”), unless otherwise indicated. 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 common shares from 500,000,000 common shares, par value $0.001, to 2,000,000,000 common shares, par value $0.001. The then authorized capital consists of 2,000,000,000 common shares and 100,000,000 preferred shares, all with a par value of $0.001. On January 19, 2015, the Company received written consent from its Board of Directors to implement a reverse stock split of its issued and outstanding shares of common stock on a basis of 20 old shares of common stock for 1 new share of common stock. Stockholders of the Company originally approved the reverse stock split on October 14, 2014 at a special meeting. The reverse stock split was reviewed and approved for filing by FINRA and made effective on February 25, 2015. On July 13, 2015, the Board of Directors approved an increase in authorized capital from 2,000,000,000 shares of common stock, par value $0.001, to 10,000,000,000 shares of common stock, par value of $0.001 per share, and a reverse stock split on a basis of up to 200 old shares of common stock for 1 share of common stock. The increase of authorized capital and stock split was approved by shareholders on July 13, 2015. On November 20, 2017, our Board of Directors approved a reverse stock split of our issued and authorized shares of common and preferred stock on the basis of 200 old shares for one (1) new share. On December 20, 2017, FINRA effected the reverse stock split. As a result of the reverse stock split, our issued and outstanding share capital decreased from 4,433,023,053 shares of common stock and 70,000,000 shares of Class C Preferred Stock to 22,165,142 shares of common stock and 350,000 shares of Class C Preferred Stock, all with a par value of $0.001 (which remained unchanged). Our authorized capital proportionately decreased from 10,000,000,000 shares of common stock and 100,000,000 shares of preferred stock to 50,000,000 shares of common stock and 500,000 shares of preferred stock. No fractional shares were issued in connection with the reverse stock split. Unless indicated otherwise, all share and per share information included in these financial statements give effect to the reverse split. The Company’s executive offices are located at 4635 South Lakeshore Drive, Suite 200, Tempe, AZ 85282-7127. The telephone number for our Tempe office is (480) 641 - 4790. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Mar. 31, 2018 | |
SIGNIFICANT ACCOUNTING POLICIES [Text Block] | NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES Basis of presentation and consolidation The accompanying 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 and nine months ended March 31, 2018 and 2017 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 and nine months ended March 31, 2018 are not necessarily indicative of the results to be expected for the year ended June 30, 2018 or for any future period. All references to March 31, 2018 and 2017 in these footnotes are unaudited. Principal of Consolidation The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary Alta Disposal and its 51% owned subsidiary ADM. Intercompany accounts and transactions have been eliminated in consolidation in conformity with the applicable accounting framework. No transactions occurred within Black Box Energy for the nine months ended March 31, 2018. 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 $51,248 and $33,136 in cash and cash equivalents at March 31, 2018 and June 30, 2017, 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 March 31, 2018 and June 30, 2017, 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, which is currently on a month-to-month basis. Start-Up Costs In accordance with FASC 720-15-20 “Start-Up Costs,” the Company expenses all costs incurred in connection with the start-up and organization of the Company. Mineral Acquisition and Exploration Costs The Company has been in the exploration stage since its formation on May 31, 2006. 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 March 31, 2018 and June 30, 2017 are recorded as non-controlling interests in the consolidated financial statements. Details of changes in the non-controlling interests during the three and nine months ended March 31, 2018 and 2017 and are reflected in the unaudited condensed consolidated 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,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Except for the three months ended March 31, 2018, potentially dilutive securities are not presented in the computation of EPS since their effects are anti-dilutive. The total number of potential number of dilutive shares is 150,154,299 as of March 31, 2018. Foreign Currency Translations The Company’s functional and reporting currency is the U.S. dollar. All transactions initiated in other currencies are translated into U.S. 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: • assets and liabilities are translated at period-end exchange rates prevailing at that reporting date; • equity is translated at historical exchange rates; and • income and expenses are translated at average exchange rates for the period. Exchange differences arising on translation of foreign operations are transferred directly to the Company’s accumulated other comprehensive loss in the consolidated financial statements. 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: Nine months ended March 31, 2018 2017 Closing rate CDN$ to US$ as of March 31, $ 0.776 $ 0.752 Average rate CDN$ to US $ for the period March 31, 0.792 0.757 Comprehensive Income (Loss) FASC Topic No. 220, “Comprehensive Income,” establishes standards for reporting and display of comprehensive income and its components in a full set of general-purpose financial statements. As of March 31, 2018 and 2017, the Company had no material items of other comprehensive income except for the foreign currency translation adjustment. Risks and Uncertainties Our 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 our 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 our company vary greatly and are not predictable. Our 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 provides 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. Fair Value of Financial Instruments ASC 820, “Fair Value Measurements and Disclosures” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: • 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 our 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. Our Level 3 financial liabilities consist of the derivative liability of our 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. Our company used a lattice 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 three and nine months ended March 31, 2018 and 2017, the Company had no 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 March 31, 2018 and June 30, 2017, 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 (March 31, 2017 - $Nil) in allowance for doubtful accounts. Recent Accounting Pronouncements In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic ), Distinguishing Liabilities from Equity (Topic ), Derivatives and Hedging (Topic ) – I. Accounting for Certain Financial Instruments with Down Round Features and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception On May 10, 2017, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2017-09 “Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting”, which provides guidance to clarify when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The guidance is effective prospectively for all companies for annual periods beginning on or after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting this guidance. In March 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-08, “Receivables—Nonrefundable Fees and Other Costs”. The Board is issuing this update to amend the amortization period for certain purchased callable debt securities held at a premium, the Board is shortening the amortization period for the premium to the earliest call date. For public business entities, the amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of adopting this guidance. In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not anticipate the adoption of ASU 2017-04 will have a material impact on its consolidated financial statements. In January 2017, the FASB issued Accounting Standards Update No. 2017-01, Clarifying the Definition of a Business ("ASU 2017-01"). The standard clarifies the definition of a business by adding guidance to assist entities in evaluating whether transactions should be accounted for as acquisitions of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Under ASU 2017-01, to be considered a business, the assets in the transaction need to include an input and a substantive process that together significantly contribute to the ability to create outputs. Prior to the adoption of the new guidance, an acquisition or disposition would be considered a business if there were inputs, as well as processes that when applied to those inputs had the ability to create outputs. Early adoption is permitted for certain transactions. The Company does not anticipate the adoption of ASU 2017-01 will have a material impact on its consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Restricted Cash (a consensus of the FASB Emerging Issue Task Force) ("ASU 2016-18"). This new standard addresses the diversity that exists in the classification and presentation of changes in restricted cash on the statement of cash flows. The amendments in ASU 2016-18 require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within the year of adoption, with early adoption permitted. The Company does not expect that the adoption of ASU 2016-18 will have a material impact on its consolidated financial statements. In August, 2016, the FASB issued Accounting Standards Update No. 2016-15, Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) ("ASU 2016-15"). The amendments in ASU 2016-15 address eight specific cash flow issues and apply to all entities that are required to present a statement of cash flows under ASC Topic 230, Statement of Cash Flows. The amendments in ASU 2016-15 are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption during an interim period. The Company has not yet completed the analysis of how adopting this guidance will affect its consolidated financial statements. 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. The Company does not anticipate the adoption of ASU 2016-16 will have a material impact on its consolidated financial statements. 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 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 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. 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. The Company is currently evaluating the impact of adopting ASU No. 2016-09 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. The Company is currently evaluating the impact of adopting ASU No. 2016-02 on its consolidated financial statements. 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 e |
CAPITAL STOCK
CAPITAL STOCK | 9 Months Ended |
Mar. 31, 2018 | |
CAPITAL STOCK [Text Block] | NOTE 3 – CAPITAL STOCK Reverse Stock Splits 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 financial statements. On November 20, 2017, our Board of Directors approved a reverse stock split of our issued and authorized shares of common and preferred stock on the basis of 200 old shares for one (1) new share. On December 20, 2017, FINRA effected the reverse stock split. As a result of the reverse stock split, our issued and outstanding share capital decreased from 4,433,023,053 shares of common stock and 70,000,000 shares of Class C Preferred Stock to 22,165,142 shares of common stock and 350,000 shares of Class C Preferred Stock, all with a par value of $0.001 (which remained unchanged). Our authorized capital proportionately decreased from 10,000,000,000 shares of common stock and 100,000,000 shares of preferred stock to 50,000,000 shares of common stock and 500,000 shares of preferred stock. No fractional shares were issued in connection with the reverse stock split. Unless indicated otherwise, all share and per share information included in these financial statements give effect to the reverse split. Authorized Stock 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 increased 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. On August 22, 2017, the Board of Directors approved a Certificate of Designation authorizing the creation of 70,000,000 Class C Preferred Shares. The Class C Shares are convertible, redeemable and have certain enhanced voting rights. Each Class C Share is convertible into 2 shares of the Company’s common stock. Effective December 20, 2017, in connection with the 200 -for- 1 reverse stock split, the Company decreased the authorized capital of its common shares from 10,000,000,000 common shares, par value $0.001 to 50,000,000 common shares, par value $0.001. Additionally, it decreased the authorized capital of its preferred stock from 100,000,000 preferred shares, par value $0.001 to 500,000 preferred shares, par value $0.001 Share Issuances Preferred Stock Issuance During the nine months ended March 31, 2018, the Company issued 350,000 Series C Preferred Shares for settlement of convertible promissory notes and accrued interest, valued at $757,347. Common Stock Issuance During the nine months ended March 31, 2018, the Company issued 26,063,900 common shares at deemed prices ranging from $0.012 to $0.090 per share upon conversion of the convertible promissory notes and accrued interest, valued at $1,053,622. On July 31, 2017, the Company issued 58,333 common shares in payment for past legal services at a deemed value of $8,166. In January 2018, the Company issued 10,332 round up shares to existing shareholders as a result of the Company’s reverse split that was effective in December 2017. |
PROVISION FOR INCOME TAXES
PROVISION FOR INCOME TAXES | 9 Months Ended |
Mar. 31, 2018 | |
PROVISION FOR INCOME TAXES [Text Block] | NOTE 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 March 31, 2018 of approximately $16 million will begin to expire in 2026. Accordingly, deferred tax assets were offset by the valuation allowance that increased by approximately $198,891 and $1,000,333 during the nine months ended March 31, 2018 and 2017 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 March 31, 2018 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 March 31, 2018. 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, 2017, 2016, 2015, 2014, and 2013 are still open for examination by the Internal Revenue Service (IRS). The Tax Cuts and Jobs Act (the Act) was enacted on December 22, 2017. The Act reduces the US federal corporate tax rate from 35% to 21% and requires the Company to re-measure certain deferred tax assets and liabilities based on the rates at which they are anticipated to reverse in the future, which is generally 21%. The Company adopted the new rate as it relates to the calculations of deferred tax amounts as of January 1, 2018. |
DEPOSITS, ADVANCES AND OTHER AS
DEPOSITS, ADVANCES AND OTHER ASSETS | 9 Months Ended |
Mar. 31, 2018 | |
DEPOSITS, ADVANCES AND OTHER ASSETS [Text Block] | NOTE 5 – DEPOSITS, ADVANCES AND OTHER ASSETS Joint Development and Option Agreement with White Top On April 13, 2017, the Company’s wholly-owned subsidiary, BBE, entered into a Joint Development and Option Agreement with White Top Oil & Gas, LLC (“White Top”), a Louisiana limited liability company (the “White Top Agreement”), under which White Top is the designee to a funding agreement to finance and participate in the completion of certain oil and gas development, exploration and operating activities on certain lands located in Sulphur, Louisiana. Under the terms of the White Top Agreement, BBE has advanced $879,620 as of March 31, 2018 ($783,620 as of June 30, 2017) to White Top as consideration, which is reflected as Advances to White Top on the Company’s balance sheet (see Note 10). On October 9, 2017, the Company sold its investment of 800,000 common shares of First Reef Energy to a third party for CDN $90,000, net of CDN $10,000 of seller’s fees, resulting in a gain of CDN $90,000 (USD70,472). The Company originally purchased these shares for USD $197,393 during the year ended June 30, 2012, and subsequently reduced the carrying value to $0 during the year ended June 30, 2013. |
SHORT-TERM NOTES PAYABLE
SHORT-TERM NOTES PAYABLE | 9 Months Ended |
Mar. 31, 2018 | |
SHORT-TERM NOTES PAYABLE [Text Block] | NOTE 6 – SHORT-TERM NOTES PAYABLE In November and December of 2017, the Company entered into four Bridge Loan Agreements totaling $105,000. The notes accrue annual interest at 10% and mature in 30 to 120 days. The Company repaid a total of $90,000 of these notes, plus accrued interest of $2,975 during the three months ended March 31, 2018, leaving a remaining balance due of $15,000, plus accrued interest of $503 as of March 31, 2018. The Company recorded interest expenses of $2,567 and $3,481 on these loans during the three and nine months ended March 31, 2018, respectively. |
CONVERTIBLE PROMISSORY NOTES
CONVERTIBLE PROMISSORY NOTES | 9 Months Ended |
Mar. 31, 2018 | |
CONVERTIBLE PROMISSORY NOTES [Text Block] | NOTE 7 – CONVERTIBLE PROMISSORY NOTES Summary of convertible promissory notes at March 31, 2018 is as follows: Accretion Transfer of June 30, Principal Issuance Total (Loan March 31, Extingui 2017 Issued Cost Converted Repaid shed) 2018 February 13, 2013 $ 10,954 $ - $ - $ - $ (10,954 ) $ - $ - July 22, 2014 7,222 - - - - - 7,222 February 6, 2015 7,150 - - (57,836 ) (25,000 ) 117,846 42,160 September 9, 2015 30,000 - - - - - 30,000 August 12, 2016 45,712 - 1,037 - - - 46,749 September 8, 2016 27,201 - 577 - - - 27,778 September 9, 2016 139,810 - 5,316 (145,126 ) - - (0 ) September 9, 2016 20,925 - - - - - 20,925 September 15, 2016 4,719 4,719 September 19, 2016 1,165,000 - - (55,500 ) - (708,000 ) 401,500 September 27, 2016 121,655 - 4,358 - - - 126,013 October 10, 2016 99,740 - 2,628 - - - 102,368 October 27, 2016 45,365 - 3,036 - - - 48,401 October 31, 2016 157,594 - 5,740 - - - 163,334 November 14, 2016 28,569 - 2,542 - - - 31,111 November 22, 2016 27,693 - 2,006 - - - 29,699 November 30, 2016 94,215 - 5,785 - - 10,000 110,000 December 23, 2016 41,221 - 3,878 - - - 45,099 December 29, 2016 86,432 - 4,679 (91,111 ) - - (0 ) January 17, 2017 46,179 - 4,971 - - - 51,150 January 25, 2017 112,735 - 19,488 (132,223 ) - - (0 ) January 26, 2017 80,707 - 19,127 (105,741 ) - 5,907 0 January 27, 2017 106,680 - 9,919 - - - 116,599 February 3, 2017 73,223 - 7,627 - - - 80,850 March 1, 2017 331,754 - 32,512 - - 18,305 382,571 March 13, 2017 78,074 - 7,726 (85,800 ) - - 0 March 20, 2017 77,870 - 7,929 - - 85,799 March 28, 2017 128,167 13,511 (141,678 ) - - - April 4, 2017 127,958 - 13,089 - - - 141,047 May 2, 2017 25,763 - 2,643 - - - 28,406 May 5, 2017 25,755 - 2,845 (28,600 ) - - (0 ) May 15, 2017 308,729 - 31,717 - - - 340,446 May 17, 2017 309,655 - 32,582 - - - 342,237 June 8, 2017 76,985 - 7,929 - - - 84,914 June 8, 2017 76,985 - 7,929 - - - 84,914 June 30, 2017 100,063 - 10,393 - - - 110,456 July 3, 2017 - 100,000 10,000 (110,000 ) - - (0 ) July 14, 2017 - 15,000 1,621 - - - 16,621 July 26, 2017 - 15,000 1,617 - - 16,617 July 26, 2017 - 30,000 3,000 (33,000 ) - - (0 ) August 4, 2017 - 30,000 2,218 (17,000 ) - - 15,218 August 4, 2017 - 30,000 3,226 - - - 33,226 September 5, 2017 - 30,000 2,218 - - - 32,218 September 7, 2017 - 55,000 5,870 - - - 60,870 September 28, 2017 - 50,000 5,239 - - - 55,239 October 4, 2017 - 35,000 2,355 - - - 37,355 October 24, 2017 - 35,000 2,679 - - - 37,679 November 1, 2017 - 30,000 2,365 - - - 32,365 November 9, 2017 - 10,000 755 - - - 10,755 December 15, 2017 - 3,000 219 - - - 3,219 December 15, 2017 - 8,000 486 - - - 8,486 January 12, 2018 25,000 601 - - - 25,601 January 29, 2018 50,000 1,621 - - - 51,621 February 28, 2018 50,000 1,415 - - - 51,415 March 22, 2018 20,000 481 - - - 20,481 March 29, 2018 143,000 3,408 - - - 146,408 $ 4,243,740 $ 764,000 $ 329,631 $ (1,003,615 ) $ (35,954 ) $ (555,942 ) $ 3,741,861 Less: Unamortized debt discount $ (1,402,631 ) - - - - - (366,559 ) Total note payable, net of debt discount $ 2,841,109 - - - - - $ 3,375,302 Current portion $ 2,841,109 - - - - - $ 3,329,219 Long term portion $ - - - - - - $ 46,083 On July 3, 2017 Company issued an aggregate of $110,000 Convertible Promissory Notes with an issuance discount of $10,000 that matures on July 3, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $132,991 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $57,619 was allocated as a debt discount with the remainder $75,372 was charged to current period operations as interest expense. On July 14, 2017 Company issued an aggregate of $17,160 Convertible Promissory Notes with an issuance discount of $2,160 that matures on July 14, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $20,747 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $8,989 was allocated as a debt discount with the remainder $11,758 was charged to current period operations as interest expense. On July 26, 2017 Company issued an aggregate of $17,160 Convertible Promissory Notes with an issuance discount of $2,160 that matures on July 26, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $20,747 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $8,989 was allocated as a debt discount with the remainder $11,758 was charged to current period operations as interest expense. On July 26, 2017 Company issued an aggregate of $33,000 Convertible Promissory Notes with an issuance discount of $3,000 that matures on July 26, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $39,897 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $17,286 was allocated as a debt discount with the remainder $22,612 was charged to current period operations as interest expense. On August 4, 2017 Company issued an aggregate of $33,000 Convertible Promissory Notes with an issuance discount of $3,000 that matures on August 4, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $47,543 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $25,667 was allocated as a debt discount with the remainder $21,876 was charged to current period operations as interest expense. On August 4, 2017 Company issued an aggregate of $34,320 Convertible Promissory Notes with an issuance discount of $4,320 that matures on August 4, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $49,445 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $26,693 was allocated as a debt discount with the remainder $22,751 was charged to current period operations as interest expense. On September 5, 2017, the Company issued an aggregate of $33,000 Convertible Promissory Notes with an issuance discount of $3,000 that matures on September 5, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $34,230 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $11,000 was allocated as a debt discount with the remainder $23,230 was charged to current period operations as interest expense. On September 7, 2017, the Company issued an aggregate of $62,920 Convertible Promissory Notes with an issuance discount of $7,920 that matures on September 7, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $80,426 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $37,752 was allocated as a debt discount up to the proceeds of the note with the remainder $42,674 was charged to current period operations as interest expense. On September 28, 2017, the Company issued an aggregate of $57,200 Convertible Promissory Notes with an issuance discount of $7,200 that matures on September 28, 2018. 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 the lessor of $1.00 or a discount of 25% 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 $73,114 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $34,320 was allocated as a debt discount up to the proceeds of the note with the remainder $38,794 was charged to current period operations as interest expense. On October 4, 2017, the Company issued a $40,040 Convertible Promissory Note with an issuance discount of $5,040 that matures on May 15, 2018. The notes bears 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 the lessor of $1.00 or a discount of 25% 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 $44,066 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $13,347 was allocated as a debt discount with the remaining $30,719 charged to current period operations as interest expense. On October 24, 2017, the Company issued a $40,040 Convertible Promissory Note with an issuance discount of $5,040 that matures on June 8, 2018. The 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 the lessor of $1.00 or a discount of 25% 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 $56,401 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $26,693 was allocated as a debt discount with the remaining $29,707 charged to current period operations as interest expense. On November 1, 2017, the Company issued a $34,320 Convertible Promissory Note with an issuance discount of $4,320 that matures on June 8, 2018. The 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 the lessor of $1.00 or a discount of 25% 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 $48,343 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $22,880 was allocated as a debt discount with the remaining $25,463 charged to current period operations as interest expense. On November 9, 2017, the Company issued a $11,440 Convertible Promissory Note with an issuance discount of $1,440 that matures on June 8, 2018. The note bears 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 the lessor of $1.00 or a discount of 25% 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 $16,114 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $7,627 was allocated as a debt discount with the remaining $8,488 charged to current period operations as interest expense. On December 15, 2017, the Company issued a $3,432 Convertible Promissory Note with an issuance discount of $432 that matures on June 8, 2018. The note bears 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 the lessor of $1.00 or a discount of 25% 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 $4,834 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $2,288 was allocated as a debt discount with the remaining $2,546 charged to current period operations as interest expense. On December 15, 2017, the Company issued a $9,152 Convertible Promissory Note with an issuance discount of $1,152 that matures on June 8, 2018. The note bears 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 the lessor of $1.00 or a discount of 25% 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 $13,839 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% The initial fair values of the embedded debt derivative $7,118 was allocated as a debt discount with the remaining $6,721 charged to current period operations as interest expense. On January 12, 2018, the Company issued a $27,500 Convertible Promissory Note with an issuance discount of $2,500 that matures on January 12, 2020. The note bears 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 the lessor of $1.00 or a discount of 25% 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 $41,226 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 237.37% Risk free rate: 2.09% The initial fair values of the embedded debt derivative $22,168 was allocated as a debt discount with the remaining $19,058 charged to current period operations as interest expense. On January 29, 2018, the Company issued a $57,750 Convertible Promissory Note with an issuance discount of $2,500 that matures on January 12, 2019. The note bears 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 the lessor of $1.00 or a discount of 25% 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 $61,548 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volatility 237.37% Risk free rate: 2.09% The initial fair values of the embedded debt derivative $19,250 was allocated as a debt discount with the remaining $42,298 charged to current period operations as interest expense. On February 28, 2018, the Company issued a $57,750 Convertible Promissory Note with an issuance discount of $2,500 that matures on January 12, 2019. The note bears 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 the lessor of $1.00 or a discount of 25% 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 $83,284 of the embedded derivative, subject to the conversion limitation of beneficially owning not more than 9.99% shares together with the affiliates. The fair value of the embedded derivative was determined using the Black Scholes Model based on the following assumptions: Dividend yield: 0.00% Volat |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Mar. 31, 2018 | |
RELATED PARTY TRANSACTIONS [Text Block] | NOTE 8 – RELATED PARTY TRANSACTIONS During the three and nine months ended March 31, 2018, the Company incurred consulting fees of $20,000 and $69,000, respectively (March 31, 2017 - $24,000 and $65,000) with a director and officer of one of our subsidiaries out of which there were no stock payments. As of March 31, 2018, the Company owed a director for a non-interest-bearing demand loan with a balance outstanding of $115,000 (June 30, 2017 - $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 | 9 Months Ended |
Mar. 31, 2018 | |
GOING CONCERN AND LIQUIDITY CONSIDERATIONS [Text Block] | NOTE 9– 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 of March 31, 2018, the Company had a working capital deficiency of $5,908,864 (June 30, 2017 - $6,934,640) and an accumulated deficit of $59,540,956 (June 30, 2017 - $57,683,563). 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 | 9 Months Ended |
Mar. 31, 2018 | |
COMMITMENTS AND CONTINGENCIES [Text Block] | NOTE 10 – 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. The Company is currently in the process of renewing this agreement. Lease Commitment On May 25, 2016, the Company entered into a sublease agreement for a term of twelve months and expired on May 30, 2017. The sublease agreement is on a month-to-month basis for $1,199 per month beginning June 1, 2017. Litigation On March 22, 2017, our wholly-owned subsidiary, Black Box Energy, Inc. (“BBE”), filed a complaint in the Superior Court of the State of Arizona (Maricopa County) against PetroChase, Inc., Warren County PC#1, LLC, Stephen R. Moore and Sheree Moore, as well as certain unidentified, predecessor and success corporations, parent corporations or subsidiaries of the defendants (collectively the “Defendants”). In 2016 the Defendant, Stephen R. Moore, on behalf of PetroChase, solicited investment from our Company to subscribe to a 50% (of 70%) working interest in the McKean County Project wells. On September 9, 2016, BBE entered into a letter agreement with PetroChase to acquire a 50% (of 70%) working interest in the wells, in addition access to the wells for the purposes of the developing our mechanical ultrasound technology for use in water purification. BBE paid $250,000 to PetroChase in consideration of the rights granted, which funds were to be used for costs associated with development of the wells. Drilling of the wells was to be commenced within a reasonable time and was to continue until all the wells were completed. To date, drilling of the wells has not been completed. The complaint seeks a return of the $250,000 for breach of the letter agreement, treble damages ($750,000 in the aggregate), plus attorney’s fees, costs, and punitive damages. The Company has engaged legal counsel and intends to respond to the complaint with an answer or motion in due course. 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 Quarterly 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. Joint Development and Option Agreement On April 13, 2017, the Company’s wholly-owned subsidiary, Black Box Energy, Inc. (“BBE”), entered into a Joint Development and Option Agreement with White Top Oil & Gas, LLC (“White Top”), a Louisiana limited liability company (the “White Top Agreement”), under which White Top is the designee to a funding agreement to finance and participate in the completion of certain oil and gas development, exploration and operating activities on certain lands located in Sulphur, Louisiana (the “White Top Field”). Under the terms of the White Top Agreement, BBE has advanced approximately $879,620 as of March 31, 2018 to White Top as consideration to White Top for the option to convert and the right to repayment of payouts for the necessary capital, overrating, technical, and related support costs necessary to further develop the White Top Field. White Top’s rights to repayment of the monies received from BBE shall be limited to funding from certain payouts received under terms agreed by the parties under such joint development project, as mutually agreed. Purchase Option On October 12, 2017, the Company entered into a Patent Option and Purchase Agreement whereby the Company paid a non-refundable deposit of $25,000 for a 120 -day option to purchase certain intellectual property from a third-party seller for a total of $100,000. The Company elected not to exercise the option. Total payments of $33,333 were including in selling, general and administrative expense for the three and nine months ended March 31, 2018. Consulting Agreement On January 8, 2018, the Company executed a consulting agreement for advisory services on a month-to-month basis at a rate of $5,000 per month commencing January 8, 2018. |
DISCONTINUED OPERATIONS
DISCONTINUED OPERATIONS | 9 Months Ended |
Mar. 31, 2018 | |
DISCONTINUED OPERATIONS [Text Block] | NOTE 11 – 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 nine months ended March 31, 2018 and 2017 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 balance sheet. A breakdown of the discontinued operations is presented as follow: Consolidated Statements of Operations and Comprehensive Loss Three months ended March 31, March 31, 2018 2017 Revenue $ - $ - Selling, general and administrative (79 ) (61 ) Loss from discontinued operations $ (79 ) $ (61 ) Nine months ended March 31, March 31, 2018 2017 Revenue $ - $ - Selling, general and administrative (174 ) (141 ) Loss from discontinued operations $ (174 ) $ (141 ) Consolidated Balance Sheets March 31, June 30, 2018 2017 Current assets: Cash and cash equivalents $ 954 $ 1,115 Receivable, net 657 652 Prepaid expenses 1,839 1,824 GST Receivable 16,390 16,260 $ 19,840 $ 19,852 Current liabilities: Accounts payable $ 6,481 $ 6,429 |
SETTLEMENTS
SETTLEMENTS | 9 Months Ended |
Mar. 31, 2018 | |
SETTLEMENTS [Text Block] | NOTE 12 – SETTLEMENTS Debt Settlements and Class C Preferred Shares Effective August 11, 2017, the Company entered into a Debt Settlement Agreement with each Blue Citi, LLC (“Blue Citi”) and Concord Holding Group, LLC (“Concord”). On August 11, 2017, the Company was indebted to Blue Citi and Concord in the aggregate principal amounts of approximately $2,400,000 and $1,700,000, respectively (exclusive of accrued interest and penalties), pursuant to various convertible promissory notes issued to Blue Citi and Concord between March, 2014 and June, 2017. Pursuant to the Debt Settlement Agreements, each Blue Citi and Concord has agreed to indefinitely forbear from enforcing its rights pursuant to the promissory notes. In consideration, the Company has issued to each Blue Citi and Concord warrants to purchase up to $400,000 in shares of our common stock ($800,000 in the aggregate), with 50% of the warrants exercisable at $0.50 per share, and 50% exercisable at $0.70 per share. The warrants are exercisable until August 11, 2022 and may also be exercised on a cashless basis. In the event that the closing price of the Company’s common stock falls to $0.10 or less for a period of 3 days during the warrant exercise period, the exercise price of the $0.50 per share warrants shall adjust to 300% of the lowest trading price during such 3 -day period, and the exercise price of the $0.70 warrants will adjust to 400% of the lowest trading during the 3 -day period. As additional consideration for the issuance of securities to Blue Citi and Concord, promissory notes held by them that were convertible into the Company’s common stock at 50% discount to market price will instead be subject to a 25% discount to market price. The fair value of the warrants upon issuance on August 11, 2017 was approximately $190,842 in aggregate. Total amortization expense related to these warrants was $43,723 and $111,405, respectively, for the three and nine months ended March 31, 2018, leaving an unamortized balance of $79,437 as of March 31, 2018. On August 3, 2017, the Company entered into a debt settlement subscription agreement with a creditor for settlement of amounts owed relating to an outstanding convertible note in the principal amount of $708,000, with $49,347 of accrued interest. In lieu of receiving cash as payment, the creditor has agreed to accept 350,000 Class C Convertible Preferred Shares of the Company as payment of the indebtedness, pursuant to the terms of the settlement agreement. Thereafter, on August 23, 2017, Company issued an aggregate of 350,000 Class C Convertible Preferred Shares at the deemed price of $2.02 per share. The Company has issued all of the shares to one U.S. person (as that term is defined in Regulation S of the Securities Act of 1933), relying on Rule 506 promulgated under Regulation D of the Securities Act of 1933, as amended. On January 11, 2018, the Company entered into a Debt Settlement Agreement with a notes holder, whereby the Company agreed to pay $25,000, plus $99,996 in common stock, payable in installments through May 1, 2018, to settle a convertible note dated February 6. 2015, resulting in a loss on extinguishment of liability of $108,860 for the nine months ended March 31, 2018. The balance of this note was $42,160 as of March 31, 2018. The transaction is considered as debt extinguishment for accounting purposes. The derivative liability associated with the debt totaling $4,696 increased to $58,953 as of March 31, 2018. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Mar. 31, 2018 | |
SUBSEQUENT EVENTS [Text Block] | NOTE 13 – SUBSEQUENT EVENTS Convertible Secured Redeemable Notes In April 2018 and May 2018, the Company issued an aggregate of $125,520 of Convertible Promissory Notes that mature on March 29, 2019, resulting in cash proceeds totaling $109,720, of which $9,720 was paid direct to a service provider. 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 the lesser of $1.00 per share or at a price equal to 25% 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 May 16, 2018, the Company issued a Bridge Loan for cash proceeds of $10,000. The Bridge Loan bears interest at 10% and matures in 60 days. In April 2018 and May 2018, the Company issued 4,912,263 common shares at deemed prices ranging from $0.00981 to $0.01040 per share upon conversion of the convertible promissory notes and accrued interest, valued at $49,845. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Mar. 31, 2018 | |
Basis of presentation and consolidation [Policy Text Block] | Basis of presentation and consolidation The accompanying 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 and nine months ended March 31, 2018 and 2017 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 and nine months ended March 31, 2018 are not necessarily indicative of the results to be expected for the year ended June 30, 2018 or for any future period. All references to March 31, 2018 and 2017 in these footnotes are unaudited. |
Principal of Consolidation [Policy Text Block] | Principal of Consolidation The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary Alta Disposal and its 51% owned subsidiary ADM. Intercompany accounts and transactions have been eliminated in consolidation in conformity with the applicable accounting framework. No transactions occurred within Black Box Energy for the nine months ended March 31, 2018. |
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 $51,248 and $33,136 in cash and cash equivalents at March 31, 2018 and June 30, 2017, 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 March 31, 2018 and June 30, 2017, 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, which is currently on a month-to-month basis. |
Start-Up Costs [Policy Text Block] | Start-Up Costs In accordance with FASC 720-15-20 “Start-Up Costs,” the Company expenses all costs incurred in connection with the start-up and organization of the Company. |
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. 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 March 31, 2018 and June 30, 2017 are recorded as non-controlling interests in the consolidated financial statements. Details of changes in the non-controlling interests during the three and nine months ended March 31, 2018 and 2017 and are reflected in the unaudited condensed consolidated 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,” (“EPS”) which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Except for the three months ended March 31, 2018, potentially dilutive securities are not presented in the computation of EPS since their effects are anti-dilutive. The total number of potential number of dilutive shares is 150,154,299 as of March 31, 2018. |
Foreign Currency Translations [Policy Text Block] | Foreign Currency Translations The Company’s functional and reporting currency is the U.S. dollar. All transactions initiated in other currencies are translated into U.S. 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 [Policy Text Block] | 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: • assets and liabilities are translated at period-end exchange rates prevailing at that reporting date; • equity is translated at historical exchange rates; and • income and expenses are translated at average exchange rates for the period. Exchange differences arising on translation of foreign operations are transferred directly to the Company’s accumulated other comprehensive loss in the consolidated financial statements. 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: Nine months ended March 31, 2018 2017 Closing rate CDN$ to US$ as of March 31, $ 0.776 $ 0.752 Average rate CDN$ to US $ for the period March 31, 0.792 0.757 |
Comprehensive Income (Loss) [Policy Text Block] | Comprehensive Income (Loss) FASC Topic No. 220, “Comprehensive Income,” establishes standards for reporting and display of comprehensive income and its components in a full set of general-purpose financial statements. As of March 31, 2018 and 2017, the Company had no material items of other comprehensive income except for the foreign currency translation adjustment. |
Risks and Uncertainties [Policy Text Block] | Risks and Uncertainties Our 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 our 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 our company vary greatly and are not predictable. Our 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 provides 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. |
Fair Value of Financial Instruments [Policy Text Block] | Fair Value of Financial Instruments ASC 820, “Fair Value Measurements and Disclosures” requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: • 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 our 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. Our Level 3 financial liabilities consist of the derivative liability of our 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. Our company used a lattice 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 three and nine months ended March 31, 2018 and 2017, the Company had no 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 March 31, 2018 and June 30, 2017, 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 (March 31, 2017 - $Nil) in allowance for doubtful accounts. |
Recent Accounting Pronouncements [Policy Text Block] | Recent Accounting Pronouncements In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic ), Distinguishing Liabilities from Equity (Topic ), Derivatives and Hedging (Topic ) – I. Accounting for Certain Financial Instruments with Down Round Features and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception On May 10, 2017, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2017-09 “Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting”, which provides guidance to clarify when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The guidance is effective prospectively for all companies for annual periods beginning on or after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting this guidance. In March 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-08, “Receivables—Nonrefundable Fees and Other Costs”. The Board is issuing this update to amend the amortization period for certain purchased callable debt securities held at a premium, the Board is shortening the amortization period for the premium to the earliest call date. For public business entities, the amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of adopting this guidance. In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not anticipate the adoption of ASU 2017-04 will have a material impact on its consolidated financial statements. In January 2017, the FASB issued Accounting Standards Update No. 2017-01, Clarifying the Definition of a Business ("ASU 2017-01"). The standard clarifies the definition of a business by adding guidance to assist entities in evaluating whether transactions should be accounted for as acquisitions of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Under ASU 2017-01, to be considered a business, the assets in the transaction need to include an input and a substantive process that together significantly contribute to the ability to create outputs. Prior to the adoption of the new guidance, an acquisition or disposition would be considered a business if there were inputs, as well as processes that when applied to those inputs had the ability to create outputs. Early adoption is permitted for certain transactions. The Company does not anticipate the adoption of ASU 2017-01 will have a material impact on its consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Restricted Cash (a consensus of the FASB Emerging Issue Task Force) ("ASU 2016-18"). This new standard addresses the diversity that exists in the classification and presentation of changes in restricted cash on the statement of cash flows. The amendments in ASU 2016-18 require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within the year of adoption, with early adoption permitted. The Company does not expect that the adoption of ASU 2016-18 will have a material impact on its consolidated financial statements. In August, 2016, the FASB issued Accounting Standards Update No. 2016-15, Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) ("ASU 2016-15"). The amendments in ASU 2016-15 address eight specific cash flow issues and apply to all entities that are required to present a statement of cash flows under ASC Topic 230, Statement of Cash Flows. The amendments in ASU 2016-15 are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption during an interim period. The Company has not yet completed the analysis of how adopting this guidance will affect its consolidated financial statements. 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. The Company does not anticipate the adoption of ASU 2016-16 will have a material impact on its consolidated financial statements. 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 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 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. 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. The Company is currently evaluating the impact of adopting ASU No. 2016-09 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. The Company is currently evaluating the impact of adopting ASU No. 2016-02 on its consolidated financial statements. 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. |
SIGNIFICANT ACCOUNTING POLICI21
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Schedule of Relevant Translation Rates [Table Text Block] | Nine months ended March 31, 2018 2017 Closing rate CDN$ to US$ as of March 31, $ 0.776 $ 0.752 Average rate CDN$ to US $ for the period March 31, 0.792 0.757 |
CONVERTIBLE PROMISSORY NOTES (T
CONVERTIBLE PROMISSORY NOTES (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Schedule of Summary of Convertible Promissory Note [Table Text Block] | Accretion Transfer of June 30, Principal Issuance Total (Loan March 31, Extingui 2017 Issued Cost Converted Repaid shed) 2018 February 13, 2013 $ 10,954 $ - $ - $ - $ (10,954 ) $ - $ - July 22, 2014 7,222 - - - - - 7,222 February 6, 2015 7,150 - - (57,836 ) (25,000 ) 117,846 42,160 September 9, 2015 30,000 - - - - - 30,000 August 12, 2016 45,712 - 1,037 - - - 46,749 September 8, 2016 27,201 - 577 - - - 27,778 September 9, 2016 139,810 - 5,316 (145,126 ) - - (0 ) September 9, 2016 20,925 - - - - - 20,925 September 15, 2016 4,719 4,719 September 19, 2016 1,165,000 - - (55,500 ) - (708,000 ) 401,500 September 27, 2016 121,655 - 4,358 - - - 126,013 October 10, 2016 99,740 - 2,628 - - - 102,368 October 27, 2016 45,365 - 3,036 - - - 48,401 October 31, 2016 157,594 - 5,740 - - - 163,334 November 14, 2016 28,569 - 2,542 - - - 31,111 November 22, 2016 27,693 - 2,006 - - - 29,699 November 30, 2016 94,215 - 5,785 - - 10,000 110,000 December 23, 2016 41,221 - 3,878 - - - 45,099 December 29, 2016 86,432 - 4,679 (91,111 ) - - (0 ) January 17, 2017 46,179 - 4,971 - - - 51,150 January 25, 2017 112,735 - 19,488 (132,223 ) - - (0 ) January 26, 2017 80,707 - 19,127 (105,741 ) - 5,907 0 January 27, 2017 106,680 - 9,919 - - - 116,599 February 3, 2017 73,223 - 7,627 - - - 80,850 March 1, 2017 331,754 - 32,512 - - 18,305 382,571 March 13, 2017 78,074 - 7,726 (85,800 ) - - 0 March 20, 2017 77,870 - 7,929 - - 85,799 March 28, 2017 128,167 13,511 (141,678 ) - - - April 4, 2017 127,958 - 13,089 - - - 141,047 May 2, 2017 25,763 - 2,643 - - - 28,406 May 5, 2017 25,755 - 2,845 (28,600 ) - - (0 ) May 15, 2017 308,729 - 31,717 - - - 340,446 May 17, 2017 309,655 - 32,582 - - - 342,237 June 8, 2017 76,985 - 7,929 - - - 84,914 June 8, 2017 76,985 - 7,929 - - - 84,914 June 30, 2017 100,063 - 10,393 - - - 110,456 July 3, 2017 - 100,000 10,000 (110,000 ) - - (0 ) July 14, 2017 - 15,000 1,621 - - - 16,621 July 26, 2017 - 15,000 1,617 - - 16,617 July 26, 2017 - 30,000 3,000 (33,000 ) - - (0 ) August 4, 2017 - 30,000 2,218 (17,000 ) - - 15,218 August 4, 2017 - 30,000 3,226 - - - 33,226 September 5, 2017 - 30,000 2,218 - - - 32,218 September 7, 2017 - 55,000 5,870 - - - 60,870 September 28, 2017 - 50,000 5,239 - - - 55,239 October 4, 2017 - 35,000 2,355 - - - 37,355 October 24, 2017 - 35,000 2,679 - - - 37,679 November 1, 2017 - 30,000 2,365 - - - 32,365 November 9, 2017 - 10,000 755 - - - 10,755 December 15, 2017 - 3,000 219 - - - 3,219 December 15, 2017 - 8,000 486 - - - 8,486 January 12, 2018 25,000 601 - - - 25,601 January 29, 2018 50,000 1,621 - - - 51,621 February 28, 2018 50,000 1,415 - - - 51,415 March 22, 2018 20,000 481 - - - 20,481 March 29, 2018 143,000 3,408 - - - 146,408 $ 4,243,740 $ 764,000 $ 329,631 $ (1,003,615 ) $ (35,954 ) $ (555,942 ) $ 3,741,861 Less: Unamortized debt discount $ (1,402,631 ) - - - - - (366,559 ) Total note payable, net of debt discount $ 2,841,109 - - - - - $ 3,375,302 Current portion $ 2,841,109 - - - - - $ 3,329,219 Long term portion $ - - - - - - $ 46,083 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | March 31, 2018 June 30, 2017 Dividend yield: 0% 0% Volatility 232.30 – 258.62% 247.5 – 284.4% Risk free rate: 1.03 – 2.09% 1.03 – 1.89% |
Schedule of Changes in Fair Value of Convertible Promissory Notes [Table Text Block] | Derivative Liability (convertible promissory notes) Balance, June 30, 2016 $ 1,162,058 Initial fair value at note issuances 5,290,359 Fair value of liability at note conversion (1,818,596 ) Extinguishment of derivative liability (298,728 ) Mark-to-market at June 30, 2017 (948,842 ) Balance, June 30, 2017 $ 3,386,251 Initial fair value at note issuances 957,564 Fair value of liability at note conversion (1,113,903 ) Extinguishment of derivative liability - Mark-to-market at March 31, 2018 (1,487,979 ) Balance, March 31, 2018 $ 1,741,933 Net gain for the period included in earnings relating to the liabilities held at March 31, 2018 $ 1,487,979 |
Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions [Table Text Block] | March 31, 2018 June 30, 2017 Dividend yield: 0% 0% Volatility 263.85 - 269.45% 247.5% Risk free rate: 1.31 – 2.20% 1.89% |
Schedule of Stockholders' Equity Warrants Activity [Table Text Block] | Warrants Weighted Weighted Outstanding Average Average Exercise Remaining Price life Balance, June 30, 2016 135 $ 20,040 2.79 years Exercised (1 ) 42,480 - Issued - Expired (3 ) 56,000 - Cancelled (58 ) 38,160 - Balance, June 30, 2017 74 $ 42,752 2.55 years Exercised - - Issued 1,371,429 0.58 - Expired - - Cancelled (3 ) 42,816 - Balance, March 31, 2018 1,371,500 $ 0.74 4.37 years |
Schedule of Changes in Fair Value of Financial Liabilities [Table Text Block] | Derivative Liability (warrants) Balance, June 30, 2016 $ 268,611 Fair value of warrant cancelled (111,073 ) Fair value of warrant exercised (71,595 ) Mark-to-market at June 30, 2017 – warrant liability 252,910 Balance, June 30, 2017 $ 338,873 Initial fair value of warrant derivatives at note issuances 190,812 Fair value of warrant cancelled - Fair value of warrant exercised - Mark-to-market at March 31, 2018 – warrant liability (258,830 ) Balance, March 31, 2018 $ 270,885 Net gain for the period included in earnings relating to the liabilities held at March 31, 2018 $ 258,830 |
July 3, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
July 14, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
July 26, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
July 26, 2017 Embedded Derivatives 2 [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
August 4, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
August 4, 2017 Embedded Derivatives 2 [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
September 5, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
September 7, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
September 28, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 225.76% Risk free rate: 1.03% |
October 4, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% |
October 24, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% |
November 1, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% |
November 9, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% |
December 15, 2017 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% |
December 15, 2017 Embedded Derivatives 2 [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 254.34% Risk free rate: 1.03% |
January 12, 2018 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 237.37% Risk free rate: 2.09% |
January 29, 2018 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 237.37% Risk free rate: 2.09% |
February 28, 2018 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 237.37% Risk free rate: 2.09% |
March 22, 2018 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 237.37% Risk free rate: 2.09% |
March 29, 2018 Embedded Derivatives [Member] | |
Schedule of Valuation Assumptions [Table Text Block] | Dividend yield: 0.00% Volatility 237.37% Risk free rate: 2.09% |
DISCONTINUED OPERATIONS (Tables
DISCONTINUED OPERATIONS (Tables) | 3 Months Ended | 9 Months Ended |
Mar. 31, 2018 | Mar. 31, 2018 | |
Schedule of Discontinued Operations, Consolidated Statements of Operations and Comprehensive Loss [Table Text Block] | Three months ended March 31, March 31, 2018 2017 Revenue $ - $ - Selling, general and administrative (79 ) (61 ) Loss from discontinued operations $ (79 ) $ (61 ) | Nine months ended March 31, March 31, 2018 2017 Revenue $ - $ - Selling, general and administrative (174 ) (141 ) Loss from discontinued operations $ (174 ) $ (141 ) |
Schedule of Discontinued Operations, Consolidated Balance Sheets [Table Text Block] | Consolidated Balance Sheets March 31, June 30, 2018 2017 Current assets: Cash and cash equivalents $ 954 $ 1,115 Receivable, net 657 652 Prepaid expenses 1,839 1,824 GST Receivable 16,390 16,260 $ 19,840 $ 19,852 Current liabilities: Accounts payable $ 6,481 $ 6,429 |
ORGANIZATION (Narrative) (Detai
ORGANIZATION (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($)$ / sharesshares | |
Organization 1 | 51.00% |
Organization 2 | 500,000,000 |
Organization 3 | $ | $ 0.001 |
Organization 4 | 2,000,000,000 |
Organization 5 | $ | $ 0.001 |
Organization 6 | 2,000,000,000 |
Organization 7 | 100,000,000 |
Organization 8 | $ | $ 0.001 |
Organization 9 | 20 |
Organization 10 | 1 |
Organization 11 | 2,000,000,000 |
Organization 12 | $ | $ 0.001 |
Organization 13 | 10,000,000,000 |
Organization 14 | $ / shares | $ 0.001 |
Organization 15 | 200 |
Organization 16 | 1 |
Organization 17 | 200 |
Organization 18 | 4,433,023,053 |
Organization 19 | 70,000,000 |
Organization 20 | 22,165,142 |
Organization 21 | 350,000 |
Organization 22 | $ | $ 0.001 |
Organization 23 | 10,000,000,000 |
Organization 24 | 100,000,000 |
Organization 25 | 50,000,000 |
Organization 26 | 500,000 |
Organization 27 | 641 |
Organization 28 | 4,790 |
SIGNIFICANT ACCOUNTING POLICI25
SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($) | |
Significant Accounting Policies 1 | 51.00% |
Significant Accounting Policies 2 | $ 51,248 |
Significant Accounting Policies 3 | $ 33,136 |
Significant Accounting Policies 4 | 49.00% |
Significant Accounting Policies 5 | 150,154,299 |
Significant Accounting Policies 10 | $ 0 |
Significant Accounting Policies 11 | $ 0 |
CAPITAL STOCK (Narrative) (Deta
CAPITAL STOCK (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($)yr$ / sharesshares | |
Capital Stock 1 | 20 |
Capital Stock 2 | 1 |
Capital Stock 3 | 200 |
Capital Stock 4 | 1 |
Capital Stock 5 | 200 |
Capital Stock 6 | 4,433,023,053 |
Capital Stock 7 | 70,000,000 |
Capital Stock 8 | 22,165,142 |
Capital Stock 9 | 350,000 |
Capital Stock 10 | $ | $ 0.001 |
Capital Stock 11 | 10,000,000,000 |
Capital Stock 12 | 100,000,000 |
Capital Stock 13 | 50,000,000 |
Capital Stock 14 | 500,000 |
Capital Stock 15 | 100,000,000 |
Capital Stock 16 | 100,000,000 |
Capital Stock 17 | $ / shares | $ 0.001 |
Capital Stock 18 | 600,000,000 |
Capital Stock 19 | 500,000,000 |
Capital Stock 20 | $ / shares | $ 0.001 |
Capital Stock 21 | 100,000,000 |
Capital Stock 22 | $ / shares | $ 0.001 |
Capital Stock 23 | 20,000,000 |
Capital Stock 24 | $ / shares | $ 0.001 |
Capital Stock 25 | $ / shares | $ 100 |
Capital Stock 26 | $ | $ 0.001 |
Capital Stock 27 | 2,000,000 |
Capital Stock 28 | $ / shares | $ 0.001 |
Capital Stock 29 | $ | $ 0.001 |
Capital Stock 30 | 1 |
Capital Stock 31 | $ | $ 1 |
Capital Stock 32 | 500,000,000 |
Capital Stock 33 | $ | $ 0.001 |
Capital Stock 34 | 2,000,000,000 |
Capital Stock 35 | $ | $ 0.001 |
Capital Stock 36 | 2,000,000,000 |
Capital Stock 37 | 100,000,000 |
Capital Stock 38 | $ | $ 0.001 |
Capital Stock 39 | 50,000,000 |
Capital Stock 40 | 100,000,000 |
Capital Stock 41 | $ | $ 0.001 |
Capital Stock 42 | 62 |
Capital Stock 43 | yr | 1 |
Capital Stock 44 | 75.00% |
Capital Stock 45 | 2,000,000,000 |
Capital Stock 46 | $ | $ 0.001 |
Capital Stock 47 | 10,000,000,000 |
Capital Stock 48 | $ | $ 0.001 |
Capital Stock 49 | 70,000,000 |
Capital Stock 50 | 2 |
Capital Stock 51 | 200 |
Capital Stock 52 | 1 |
Capital Stock 53 | 10,000,000,000 |
Capital Stock 54 | $ | $ 0.001 |
Capital Stock 55 | 50,000,000 |
Capital Stock 56 | $ | $ 0.001 |
Capital Stock 57 | 100,000,000 |
Capital Stock 58 | $ | $ 0.001 |
Capital Stock 59 | 500,000 |
Capital Stock 60 | $ | $ 0.001 |
Capital Stock 61 | 350,000 |
Capital Stock 62 | $ | $ 757,347 |
Capital Stock 63 | 26,063,900 |
Capital Stock 64 | $ | $ 0.012 |
Capital Stock 65 | $ / shares | $ 0.090 |
Capital Stock 66 | $ | $ 1,053,622 |
Capital Stock 67 | 58,333 |
Capital Stock 68 | $ | $ 8,166 |
Capital Stock 69 | 10,332 |
PROVISION FOR INCOME TAXES (Nar
PROVISION FOR INCOME TAXES (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($) | |
Provision For Income Taxes 1 | 740 |
Provision For Income Taxes 2 | 20 |
Provision For Income Taxes 3 | 20 |
Provision For Income Taxes 4 | $ 16,000,000 |
Provision For Income Taxes 5 | 198,891 |
Provision For Income Taxes 6 | $ 1,000,333 |
Provision For Income Taxes 7 | 740 |
Provision For Income Taxes 8 | 10 |
Provision For Income Taxes 9 | 65 |
Provision For Income Taxes 10 | 1 |
Provision For Income Taxes 11 | 35.00% |
Provision For Income Taxes 12 | 21.00% |
Provision For Income Taxes 13 | 21.00% |
DEPOSITS, ADVANCES AND OTHER 28
DEPOSITS, ADVANCES AND OTHER ASSETS (Narrative) (Details) | 9 Months Ended | |
Mar. 31, 2018USD ($)shares | Mar. 31, 2018CAD ($)shares | |
Deposits, Advances And Other Assets 1 | $ 879,620 | |
Deposits, Advances And Other Assets 2 | $ 783,620 | |
Deposits, Advances And Other Assets 3 | shares | 800,000 | 800,000 |
Deposits, Advances And Other Assets 4 | $ 90,000 | |
Deposits, Advances And Other Assets 5 | 10,000 | |
Deposits, Advances And Other Assets 6 | $ 90,000 | |
Deposits, Advances And Other Assets 7 | $ 70,472 | |
Deposits, Advances And Other Assets 8 | 197,393 | |
Deposits, Advances And Other Assets 9 | $ 0 |
SHORT-TERM NOTES PAYABLE (Narra
SHORT-TERM NOTES PAYABLE (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($)d | |
Short-term Notes Payable 1 | $ 105,000 |
Short-term Notes Payable 2 | 10.00% |
Short-term Notes Payable 3 | 30 |
Short-term Notes Payable 4 | d | 120 |
Short-term Notes Payable 5 | $ 90,000 |
Short-term Notes Payable 6 | 2,975 |
Short-term Notes Payable 7 | 15,000 |
Short-term Notes Payable 8 | 503 |
Short-term Notes Payable 9 | 2,567 |
Short-term Notes Payable 10 | $ 3,481 |
CONVERTIBLE PROMISSORY NOTES (N
CONVERTIBLE PROMISSORY NOTES (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($)shares | |
Convertible Promissory Notes 1 | $ 110,000 |
Convertible Promissory Notes 2 | $ 10,000 |
Convertible Promissory Notes 3 | 10.00% |
Convertible Promissory Notes 4 | $ 1 |
Convertible Promissory Notes 5 | 25.00% |
Convertible Promissory Notes 6 | $ 132,991 |
Convertible Promissory Notes 7 | 9.99% |
Convertible Promissory Notes 8 | $ 57,619 |
Convertible Promissory Notes 9 | 75,372 |
Convertible Promissory Notes 10 | 17,160 |
Convertible Promissory Notes 11 | $ 2,160 |
Convertible Promissory Notes 12 | 10.00% |
Convertible Promissory Notes 13 | $ 1 |
Convertible Promissory Notes 14 | 25.00% |
Convertible Promissory Notes 15 | $ 20,747 |
Convertible Promissory Notes 16 | 9.99% |
Convertible Promissory Notes 17 | $ 8,989 |
Convertible Promissory Notes 18 | 11,758 |
Convertible Promissory Notes 19 | 17,160 |
Convertible Promissory Notes 20 | $ 2,160 |
Convertible Promissory Notes 21 | 10.00% |
Convertible Promissory Notes 22 | $ 1 |
Convertible Promissory Notes 23 | 25.00% |
Convertible Promissory Notes 24 | $ 20,747 |
Convertible Promissory Notes 25 | 9.99% |
Convertible Promissory Notes 26 | $ 8,989 |
Convertible Promissory Notes 27 | 11,758 |
Convertible Promissory Notes 28 | 33,000 |
Convertible Promissory Notes 29 | $ 3,000 |
Convertible Promissory Notes 30 | 10.00% |
Convertible Promissory Notes 31 | $ 1 |
Convertible Promissory Notes 32 | 25.00% |
Convertible Promissory Notes 33 | $ 39,897 |
Convertible Promissory Notes 34 | 9.99% |
Convertible Promissory Notes 35 | $ 17,286 |
Convertible Promissory Notes 36 | 22,612 |
Convertible Promissory Notes 37 | 33,000 |
Convertible Promissory Notes 38 | $ 3,000 |
Convertible Promissory Notes 39 | 10.00% |
Convertible Promissory Notes 40 | $ 1 |
Convertible Promissory Notes 41 | 25.00% |
Convertible Promissory Notes 42 | $ 47,543 |
Convertible Promissory Notes 43 | 9.99% |
Convertible Promissory Notes 44 | $ 25,667 |
Convertible Promissory Notes 45 | 21,876 |
Convertible Promissory Notes 46 | 34,320 |
Convertible Promissory Notes 47 | $ 4,320 |
Convertible Promissory Notes 48 | 10.00% |
Convertible Promissory Notes 49 | $ 1 |
Convertible Promissory Notes 50 | 25.00% |
Convertible Promissory Notes 51 | $ 49,445 |
Convertible Promissory Notes 52 | 9.99% |
Convertible Promissory Notes 53 | $ 26,693 |
Convertible Promissory Notes 54 | 22,751 |
Convertible Promissory Notes 55 | 33,000 |
Convertible Promissory Notes 56 | $ 3,000 |
Convertible Promissory Notes 57 | 10.00% |
Convertible Promissory Notes 58 | $ 1 |
Convertible Promissory Notes 59 | 25.00% |
Convertible Promissory Notes 60 | $ 34,230 |
Convertible Promissory Notes 61 | 9.99% |
Convertible Promissory Notes 62 | $ 11,000 |
Convertible Promissory Notes 63 | 23,230 |
Convertible Promissory Notes 64 | 62,920 |
Convertible Promissory Notes 65 | $ 7,920 |
Convertible Promissory Notes 66 | 10.00% |
Convertible Promissory Notes 67 | $ 1 |
Convertible Promissory Notes 68 | 25.00% |
Convertible Promissory Notes 69 | $ 80,426 |
Convertible Promissory Notes 70 | 9.99% |
Convertible Promissory Notes 71 | $ 37,752 |
Convertible Promissory Notes 72 | 42,674 |
Convertible Promissory Notes 73 | 57,200 |
Convertible Promissory Notes 74 | $ 7,200 |
Convertible Promissory Notes 75 | 10.00% |
Convertible Promissory Notes 76 | $ 1 |
Convertible Promissory Notes 77 | 25.00% |
Convertible Promissory Notes 78 | $ 73,114 |
Convertible Promissory Notes 79 | 9.99% |
Convertible Promissory Notes 80 | $ 34,320 |
Convertible Promissory Notes 81 | 38,794 |
Convertible Promissory Notes 82 | 40,040 |
Convertible Promissory Notes 83 | $ 5,040 |
Convertible Promissory Notes 84 | 10.00% |
Convertible Promissory Notes 85 | $ 1 |
Convertible Promissory Notes 86 | 25.00% |
Convertible Promissory Notes 87 | $ 44,066 |
Convertible Promissory Notes 88 | 9.99% |
Convertible Promissory Notes 89 | $ 13,347 |
Convertible Promissory Notes 90 | 30,719 |
Convertible Promissory Notes 91 | 40,040 |
Convertible Promissory Notes 92 | $ 5,040 |
Convertible Promissory Notes 93 | 10.00% |
Convertible Promissory Notes 94 | $ 1 |
Convertible Promissory Notes 95 | 25.00% |
Convertible Promissory Notes 96 | $ 56,401 |
Convertible Promissory Notes 97 | 9.99% |
Convertible Promissory Notes 98 | $ 26,693 |
Convertible Promissory Notes 99 | 29,707 |
Convertible Promissory Notes 100 | 34,320 |
Convertible Promissory Notes 101 | $ 4,320 |
Convertible Promissory Notes 102 | 10.00% |
Convertible Promissory Notes 203 | $ 1 |
Convertible Promissory Notes 104 | 25.00% |
Convertible Promissory Notes 105 | $ 48,343 |
Convertible Promissory Notes 106 | 9.99% |
Convertible Promissory Notes 107 | $ 22,880 |
Convertible Promissory Notes 108 | 25,463 |
Convertible Promissory Notes 109 | 11,440 |
Convertible Promissory Notes 110 | $ 1,440 |
Convertible Promissory Notes 111 | 10.00% |
Convertible Promissory Notes 112 | $ 1 |
Convertible Promissory Notes 113 | 25.00% |
Convertible Promissory Notes 114 | $ 16,114 |
Convertible Promissory Notes 115 | 9.99% |
Convertible Promissory Notes 116 | $ 7,627 |
Convertible Promissory Notes 117 | 8,488 |
Convertible Promissory Notes 118 | 3,432 |
Convertible Promissory Notes 119 | $ 432 |
Convertible Promissory Notes 120 | 10.00% |
Convertible Promissory Notes 121 | $ 1 |
Convertible Promissory Notes 122 | 25.00% |
Convertible Promissory Notes 123 | $ 4,834 |
Convertible Promissory Notes 124 | 9.99% |
Convertible Promissory Notes 125 | $ 2,288 |
Convertible Promissory Notes 126 | 2,546 |
Convertible Promissory Notes 127 | 9,152 |
Convertible Promissory Notes 128 | $ 1,152 |
Convertible Promissory Notes 129 | 10.00% |
Convertible Promissory Notes 130 | $ 1 |
Convertible Promissory Notes 131 | 25.00% |
Convertible Promissory Notes 132 | $ 13,839 |
Convertible Promissory Notes 133 | 9.99% |
Convertible Promissory Notes 134 | $ 7,118 |
Convertible Promissory Notes 135 | 6,721 |
Convertible Promissory Notes 136 | 27,500 |
Convertible Promissory Notes 137 | $ 2,500 |
Convertible Promissory Notes 138 | 10.00% |
Convertible Promissory Notes 139 | $ 1 |
Convertible Promissory Notes 140 | 25.00% |
Convertible Promissory Notes 141 | $ 41,226 |
Convertible Promissory Notes 142 | 9.99% |
Convertible Promissory Notes 143 | $ 22,168 |
Convertible Promissory Notes 144 | 19,058 |
Convertible Promissory Notes 145 | 57,750 |
Convertible Promissory Notes 146 | $ 2,500 |
Convertible Promissory Notes 147 | 10.00% |
Convertible Promissory Notes 148 | $ 1 |
Convertible Promissory Notes 149 | 25.00% |
Convertible Promissory Notes 150 | $ 61,548 |
Convertible Promissory Notes 151 | 9.99% |
Convertible Promissory Notes 152 | $ 19,250 |
Convertible Promissory Notes 153 | 42,298 |
Convertible Promissory Notes 154 | 57,750 |
Convertible Promissory Notes 155 | $ 2,500 |
Convertible Promissory Notes 156 | 10.00% |
Convertible Promissory Notes 157 | $ 1 |
Convertible Promissory Notes 158 | 25.00% |
Convertible Promissory Notes 159 | $ 83,284 |
Convertible Promissory Notes 160 | 9.99% |
Convertible Promissory Notes 161 | $ 43,123 |
Convertible Promissory Notes 162 | 40,161 |
Convertible Promissory Notes 163 | 22,000 |
Convertible Promissory Notes 164 | $ 2,500 |
Convertible Promissory Notes 165 | 10.00% |
Convertible Promissory Notes 166 | $ 1 |
Convertible Promissory Notes 167 | 25.00% |
Convertible Promissory Notes 168 | $ 30,361 |
Convertible Promissory Notes 169 | 9.99% |
Convertible Promissory Notes 170 | $ 14,897 |
Convertible Promissory Notes 171 | 15,464 |
Convertible Promissory Notes 172 | 163,592 |
Convertible Promissory Notes 173 | $ 2,500 |
Convertible Promissory Notes 174 | 10.00% |
Convertible Promissory Notes 175 | $ 1 |
Convertible Promissory Notes 176 | 25.00% |
Convertible Promissory Notes 177 | $ 58,238 |
Convertible Promissory Notes 178 | 9.99% |
Convertible Promissory Notes 179 | $ 58,238 |
Convertible Promissory Notes 180 | 0 |
Convertible Promissory Notes 181 | 108,860 |
Convertible Promissory Notes 182 | 1,527,301 |
Convertible Promissory Notes 183 | 1,527,301 |
Convertible Promissory Notes 184 | 1,417,101 |
Convertible Promissory Notes 185 | 158,778 |
Convertible Promissory Notes 186 | 520,000 |
Convertible Promissory Notes 187 | 298,728 |
Convertible Promissory Notes 188 | $ 111,072 |
Convertible Promissory Notes 189 | shares | 1,011 |
Convertible Promissory Notes 190 | $ 21,908 |
Convertible Promissory Notes 191 | 100,000 |
Convertible Promissory Notes 192 | $ 100,000 |
Convertible Promissory Notes 193 | shares | 506 |
Convertible Promissory Notes 194 | $ 10,954 |
Convertible Promissory Notes 195 | 89,046 |
Convertible Promissory Notes 196 | $ 100,000 |
Convertible Promissory Notes 197 | shares | 505 |
Convertible Promissory Notes 198 | $ 10,954 |
Convertible Promissory Notes 199 | 89,046 |
Convertible Promissory Notes 200 | $ 34,213 |
Convertible Promissory Notes 201 | 10.00% |
Convertible Promissory Notes 202 | $ 2,022,488 |
Convertible Promissory Notes 203 | 1,144,229 |
Convertible Promissory Notes 204 | 329,631 |
Convertible Promissory Notes 205 | 100,270 |
Convertible Promissory Notes 206 | 537,659 |
Convertible Promissory Notes 206 | 597,871 |
Convertible Promissory Notes 207 | 90,398 |
Convertible Promissory Notes 208 | 67,219 |
Convertible Promissory Notes 209 | 1,741,933 |
Convertible Promissory Notes 210 | 3,386,252 |
Convertible Promissory Notes 211 | 1,487,979 |
Convertible Promissory Notes 212 | 68,275 |
Convertible Promissory Notes 213 | 849,601 |
Convertible Promissory Notes 214 | $ (90,017) |
Convertible Promissory Notes 215 | 26,063,900 |
Convertible Promissory Notes 216 | shares | 11,696,896 |
Convertible Promissory Notes 217 | $ 1,053,622 |
Convertible Promissory Notes 218 | 1,266,819 |
Convertible Promissory Notes 219 | 1,113,903 |
Convertible Promissory Notes 220 | $ 1,818,596 |
Convertible Promissory Notes 221 | shares | 1,371,429 |
Convertible Promissory Notes 222 | $ 270,885 |
Convertible Promissory Notes 223 | 338,873 |
Convertible Promissory Notes 224 | 258,830 |
Convertible Promissory Notes 225 | 393,704 |
Convertible Promissory Notes 226 | 208,174 |
Convertible Promissory Notes 227 | 281,187 |
Convertible Promissory Notes 228 | 0 |
Convertible Promissory Notes 229 | $ 71,595 |
RELATED PARTY TRANSACTIONS (Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($) | |
Related Party Transactions 1 | $ 20,000 |
Related Party Transactions 2 | 69,000 |
Related Party Transactions 3 | 24,000 |
Related Party Transactions 4 | 65,000 |
Related Party Transactions 5 | 115,000 |
Related Party Transactions 6 | $ 115,000 |
GOING CONCERN AND LIQUIDITY C32
GOING CONCERN AND LIQUIDITY CONSIDERATIONS (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($) | |
Going Concern And Liquidity Considerations 1 | $ 5,908,864 |
Going Concern And Liquidity Considerations 2 | 6,934,640 |
Going Concern And Liquidity Considerations 3 | 59,540,956 |
Going Concern And Liquidity Considerations 4 | $ 57,683,563 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($)mo$ / mo | |
Commitments And Contingencies 1 | mo | 24 |
Commitments And Contingencies 2 | $ 120,000 |
Commitments And Contingencies 3 | $ / mo | 1,199 |
Commitments And Contingencies 4 | 50.00% |
Commitments And Contingencies 5 | 70.00% |
Commitments And Contingencies 6 | 50.00% |
Commitments And Contingencies 7 | 70.00% |
Commitments And Contingencies 8 | $ 250,000 |
Commitments And Contingencies 9 | 250,000 |
Commitments And Contingencies 10 | 750,000 |
Commitments And Contingencies 11 | 879,620 |
Commitments And Contingencies 12 | $ 25,000 |
Commitments And Contingencies 13 | 120 |
Commitments And Contingencies 14 | $ 100,000 |
Commitments And Contingencies 15 | $ 33,333 |
Commitments And Contingencies 16 | $ / mo | 5,000 |
DISCONTINUED OPERATIONS (Narrat
DISCONTINUED OPERATIONS (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018CAD ($) | |
Discontinued Operations 1 | 51.00% |
Discontinued Operations 2 | $ 10,000 |
SETTLEMENTS (Narrative) (Detail
SETTLEMENTS (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($)d$ / shares | |
Settlements 1 | $ 2,400,000 |
Settlements 2 | 1,700,000 |
Settlements 3 | 400,000 |
Settlements 4 | $ 800,000 |
Settlements 5 | 50.00% |
Settlements 6 | $ / shares | $ 0.50 |
Settlements 7 | 50.00% |
Settlements 8 | $ / shares | $ 0.70 |
Settlements 9 | $ 0.10 |
Settlements 10 | d | 3 |
Settlements 11 | $ / shares | $ 0.50 |
Settlements 12 | 300.00% |
Settlements 13 | 3 |
Settlements 14 | $ 0.70 |
Settlements 15 | 400.00% |
Settlements 16 | 3 |
Settlements 17 | 50.00% |
Settlements 18 | 25.00% |
Settlements 19 | $ 190,842 |
Settlements 20 | 43,723 |
Settlements 21 | 111,405 |
Settlements 22 | 79,437 |
Settlements 23 | 708,000 |
Settlements 24 | $ 49,347 |
Settlements 25 | 350,000 |
Settlements 26 | 350,000 |
Settlements 27 | $ / shares | $ 2.02 |
Settlements 28 | 506 |
Settlements 29 | $ 25,000 |
Settlements 30 | 99,996 |
Settlements 31 | 108,860 |
Settlements 32 | 42,160 |
Settlements 33 | 4,696 |
Settlements 34 | $ 58,953 |
SUBSEQUENT EVENTS (Narrative) (
SUBSEQUENT EVENTS (Narrative) (Details) | 9 Months Ended |
Mar. 31, 2018USD ($)d$ / sharesshares | |
Subsequent Events 1 | $ 125,520 |
Subsequent Events 2 | 109,720 |
Subsequent Events 3 | $ 9,720 |
Subsequent Events 4 | 10.00% |
Subsequent Events 5 | $ / shares | $ 1 |
Subsequent Events 6 | 25.00% |
Subsequent Events 7 | $ 10,000 |
Subsequent Events 8 | 10.00% |
Subsequent Events 9 | d | 60 |
Subsequent Events 10 | shares | 4,912,263 |
Subsequent Events 11 | $ 0.00981 |
Subsequent Events 12 | $ / shares | $ 0.01040 |
Subsequent Events 13 | $ 49,845 |
Schedule of Relevant Translatio
Schedule of Relevant Translation Rates (Details) | 9 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Closing rate CDN$ to US$ | 0.776 | 0.752 |
Average rate CDN$ to US $ | 0.792 | 0.757 |
Schedule of Deferred Tax Assets
Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Loss before income tax | $ (124,971) | $ 3,147,892 | $ 1,857,304 | $ 5,951,435 |
Shares issued for interest expenses | 0 | (75,633) | ||
Gain on change in fair value of derivative liability and extinguishment of debt | 1,057,775 | (90,017) | 1,746,809 | 68,275 |
Loss on extinguishment of liability | 0 | 12,400 | (108,860) | (1,527,301) |
Amortization of debt discount | $ (537,659) | $ (597,871) | $ (2,022,488) | $ (1,144,229) |
Schedule of Summary of Converti
Schedule of Summary of Convertible Promissory Note (Details) - USD ($) | 9 Months Ended | |
Mar. 31, 2018 | Jun. 30, 2017 | |
Convertible promissory note, beginning of period | $ 4,243,740 | |
Principal Issued | 764,000 | |
Accretion of Issuance Cost | 329,631 | |
Total Converted | (1,003,615) | |
Repaid | (35,954) | |
Transfer (Loan Extinguished) | (555,942) | |
Convertible promissory note, end of period | 3,741,861 | |
Less: Unamortized debt discount | (366,559) | $ (1,402,631) |
Total note payable, net of debt discount | 3,375,302 | 2,841,109 |
Current portion | 3,329,219 | 2,841,109 |
Long term portion | 46,083 | $ 0 |
February 13, 2013 [Member] | ||
Convertible promissory note, beginning of period | 10,954 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 0 | |
Total Converted | 0 | |
Repaid | (10,954) | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
July 22, 2014 [Member] | ||
Convertible promissory note, beginning of period | 7,222 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 0 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 7,222 | |
February 6, 2015 [Member] | ||
Convertible promissory note, beginning of period | 7,150 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 0 | |
Total Converted | (57,836) | |
Repaid | (25,000) | |
Transfer (Loan Extinguished) | 117,846 | |
Convertible promissory note, end of period | 42,160 | |
September 9, 2015 [Member] | ||
Convertible promissory note, beginning of period | 30,000 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 0 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 30,000 | |
August 12, 2016 [Member] | ||
Convertible promissory note, beginning of period | 45,712 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 1,037 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 46,749 | |
September 8, 2016 [Member] | ||
Convertible promissory note, beginning of period | 27,201 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 577 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 27,778 | |
September 9, 2016 [Member] | ||
Convertible promissory note, beginning of period | 139,810 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 5,316 | |
Total Converted | (145,126) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
September 9, 2016 - 2 [Member] | ||
Convertible promissory note, beginning of period | 20,925 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 0 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 20,925 | |
September 15, 2016 [Member] | ||
Accretion of Issuance Cost | 4,719 | |
Convertible promissory note, end of period | 4,719 | |
September 19, 2016 [Member] | ||
Convertible promissory note, beginning of period | 1,165,000 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 0 | |
Total Converted | (55,500) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | (708,000) | |
Convertible promissory note, end of period | 401,500 | |
September 27, 2016 [Member] | ||
Convertible promissory note, beginning of period | 121,655 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 4,358 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 126,013 | |
October 10, 2016 [Member] | ||
Convertible promissory note, beginning of period | 99,740 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 2,628 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 102,368 | |
October 27, 2016 [Member] | ||
Convertible promissory note, beginning of period | 45,365 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 3,036 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 48,401 | |
October 31, 2016 [Member] | ||
Convertible promissory note, beginning of period | 157,594 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 5,740 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 163,334 | |
November 14, 2016 [Member] | ||
Convertible promissory note, beginning of period | 28,569 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 2,542 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 31,111 | |
November 22, 2016 [Member] | ||
Convertible promissory note, beginning of period | 27,693 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 2,006 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 29,699 | |
November 30, 2016 [Member] | ||
Convertible promissory note, beginning of period | 94,215 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 5,785 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 10,000 | |
Convertible promissory note, end of period | 110,000 | |
December 23, 2016 [Member] | ||
Convertible promissory note, beginning of period | 41,221 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 3,878 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 45,099 | |
December 29, 2016 [Member] | ||
Convertible promissory note, beginning of period | 86,432 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 4,679 | |
Total Converted | (91,111) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
January 17, 2017 [Member] | ||
Convertible promissory note, beginning of period | 46,179 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 4,971 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 51,150 | |
January 25, 2017 [Member] | ||
Convertible promissory note, beginning of period | 112,735 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 19,488 | |
Total Converted | (132,223) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
January 26, 2017 [Member] | ||
Convertible promissory note, beginning of period | 80,707 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 19,127 | |
Total Converted | (105,741) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 5,907 | |
Convertible promissory note, end of period | 0 | |
January 27, 2017 [Member] | ||
Convertible promissory note, beginning of period | 106,680 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 9,919 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 116,599 | |
February 3, 2017 [Member] | ||
Convertible promissory note, beginning of period | 73,223 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 7,627 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 80,850 | |
March 1, 2017 [Member] | ||
Convertible promissory note, beginning of period | 331,754 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 32,512 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 18,305 | |
Convertible promissory note, end of period | 382,571 | |
March 13, 2017 [Member] | ||
Convertible promissory note, beginning of period | 78,074 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 7,726 | |
Total Converted | (85,800) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
March 20, 2017 [Member] | ||
Convertible promissory note, beginning of period | 77,870 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 7,929 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 85,799 | |
March 28, 2017 [Member] | ||
Convertible promissory note, beginning of period | 128,167 | |
Accretion of Issuance Cost | 13,511 | |
Total Converted | (141,678) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
April 4, 2017 [Member] | ||
Convertible promissory note, beginning of period | 127,958 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 13,089 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 141,047 | |
May 2, 2017 [Member] | ||
Convertible promissory note, beginning of period | 25,763 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 2,643 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 28,406 | |
May 5, 2017 [Member] | ||
Convertible promissory note, beginning of period | 25,755 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 2,845 | |
Total Converted | (28,600) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
May 15, 2017 [Member] | ||
Convertible promissory note, beginning of period | 308,729 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 31,717 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 340,446 | |
May 17, 2017 [Member] | ||
Convertible promissory note, beginning of period | 309,655 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 32,582 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 342,237 | |
June 8, 2017 [Member] | ||
Convertible promissory note, beginning of period | 76,985 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 7,929 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 84,914 | |
June 8, 2017 - 2 [Member] | ||
Convertible promissory note, beginning of period | 76,985 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 7,929 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 84,914 | |
June 30, 2017 [Member] | ||
Convertible promissory note, beginning of period | 100,063 | |
Principal Issued | 0 | |
Accretion of Issuance Cost | 10,393 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 110,456 | |
July 3, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 100,000 | |
Accretion of Issuance Cost | 10,000 | |
Total Converted | (110,000) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
July 14, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 15,000 | |
Accretion of Issuance Cost | 1,621 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 16,621 | |
July 26, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 15,000 | |
Accretion of Issuance Cost | 1,617 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 16,617 | |
July 26, 2017 - 2 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 30,000 | |
Accretion of Issuance Cost | 3,000 | |
Total Converted | (33,000) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 0 | |
August 4, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 30,000 | |
Accretion of Issuance Cost | 2,218 | |
Total Converted | (17,000) | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 15,218 | |
August 4, 2017 - 2 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 30,000 | |
Accretion of Issuance Cost | 3,226 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 33,226 | |
September 5, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 30,000 | |
Accretion of Issuance Cost | 2,218 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 32,218 | |
September 7, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 55,000 | |
Accretion of Issuance Cost | 5,870 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 60,870 | |
September 28, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 50,000 | |
Accretion of Issuance Cost | 5,239 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 55,239 | |
October 4, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 35,000 | |
Accretion of Issuance Cost | 2,355 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 37,355 | |
October 24, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 35,000 | |
Accretion of Issuance Cost | 2,679 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 37,679 | |
November 1, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 30,000 | |
Accretion of Issuance Cost | 2,365 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 32,365 | |
November 9, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 10,000 | |
Accretion of Issuance Cost | 755 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 10,755 | |
December 15, 2017 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 3,000 | |
Accretion of Issuance Cost | 219 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 3,219 | |
December 15, 2017 - 2 [Member] | ||
Convertible promissory note, beginning of period | 0 | |
Principal Issued | 8,000 | |
Accretion of Issuance Cost | 486 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 8,486 | |
January 12, 2018 [Member] | ||
Principal Issued | 25,000 | |
Accretion of Issuance Cost | 601 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 25,601 | |
January 29, 2018 [Member] | ||
Principal Issued | 50,000 | |
Accretion of Issuance Cost | 1,621 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 51,621 | |
February 28, 2018 [Member] | ||
Principal Issued | 50,000 | |
Accretion of Issuance Cost | 1,415 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 51,415 | |
March 22, 2018 [Member] | ||
Principal Issued | 20,000 | |
Accretion of Issuance Cost | 481 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | 20,481 | |
March 29, 2018 [Member] | ||
Principal Issued | 143,000 | |
Accretion of Issuance Cost | 3,408 | |
Total Converted | 0 | |
Repaid | 0 | |
Transfer (Loan Extinguished) | 0 | |
Convertible promissory note, end of period | $ 146,408 |
Schedule of Valuation Assumptio
Schedule of Valuation Assumptions (Details) | 9 Months Ended |
Mar. 31, 2018 | |
July 3, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
July 14, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
July 26, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
July 26, 2017 Embedded Derivatives 2 [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
August 4, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
August 4, 2017 Embedded Derivatives 2 [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
September 5, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
September 7, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
September 28, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 225.76% |
Risk free rate: | 1.03% |
October 4, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 254.34% |
Risk free rate: | 1.03% |
October 24, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 254.34% |
Risk free rate: | 1.03% |
November 1, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 254.34% |
Risk free rate: | 1.03% |
November 9, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 254.34% |
Risk free rate: | 1.03% |
December 15, 2017 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 254.34% |
Risk free rate: | 1.03% |
December 15, 2017 Embedded Derivatives 2 [Member] | |
Dividend yield: | 0.00% |
Volatility | 254.34% |
Risk free rate: | 1.03% |
January 12, 2018 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 237.37% |
Risk free rate: | 2.09% |
January 29, 2018 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 237.37% |
Risk free rate: | 2.09% |
February 28, 2018 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 237.37% |
Risk free rate: | 2.09% |
March 22, 2018 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 237.37% |
Risk free rate: | 2.09% |
March 29, 2018 Embedded Derivatives [Member] | |
Dividend yield: | 0.00% |
Volatility | 237.37% |
Risk free rate: | 2.09% |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 9 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Jun. 30, 2017 | |
Dividend yield: | 0.00% | 0.00% |
Minimum [Member] | ||
Volatility | 232.30% | 247.50% |
Risk free rate: | 1.03% | 1.03% |
Maximum [Member] | ||
Volatility | 258.62% | 284.40% |
Risk free rate: | 2.09% | 1.89% |
Schedule of Changes in Fair Val
Schedule of Changes in Fair Value of Convertible Promissory Notes (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Jun. 30, 2017 | |
Derivative liability convertible promissory notes, beginning balance | $ 3,386,251 | $ 1,162,058 |
Initial fair value at note issuances | 957,564 | 5,290,359 |
Fair value of liability at note conversion | (1,113,903) | (1,818,596) |
Extinguishment of derivative liability | 0 | (298,728) |
Mark-to-market | (1,487,979) | (948,842) |
Derivative liability convertible promissory notes, ending balance | 1,741,933 | $ 3,386,251 |
Net gain for the period included in earnings relating to the liabilities held | $ 1,487,979 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions (Details) | 9 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Jun. 30, 2017 | |
Dividend yield: | 0.00% | 0.00% |
Volatility | 247.50% | |
Risk free rate: | 1.89% | |
Minimum [Member] | ||
Volatility | 263.85% | |
Risk free rate: | 1.31% | |
Maximum [Member] | ||
Volatility | 269.45% | |
Risk free rate: | 2.20% |
Schedule of Stockholders' Equ44
Schedule of Stockholders' Equity Warrants Activity (Details) - $ / shares | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Class of Warrant or Right, Outstanding, Beginning of Period | 74 | 74 | 135 | |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ 42,752 | $ 42,752 | $ 20,040 | |
Class of Warrant or Right, Exercises in Period | 0 | (1) | ||
Class of Warrant or Right, Exercises in Period, Weighted Average Exercise Price | $ 42,480 | |||
Class of Warrant or Right, Grants in Period, Net of Forfeitures | 1,371,429 | |||
Class of Warrant or Right, Grants in Period, Weighted Average Exercise Price | $ 0.58 | |||
Class of Warrant or Right, Expirations in Period | 0 | (3) | ||
Class of Warrant or Right, Expirations in Period, Weighted Average Exercise Price | $ 0 | $ 56,000 | ||
Class of Warrant or Right, Forfeitures in Period | (3) | (58) | ||
Class of Warrant or Right, Forfeitures in Period, Weighted Average Exercise Price | $ 42,816 | $ 38,160 | ||
Class of Warrant or Right, Outstanding, End of Period | 1,371,500 | 74 | 135 | |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, End of Period | $ 0.74 | $ 42,752 | $ 20,040 | |
Class of Warrant or Right, Weighted Average Remaining Contractual Term | 4 years 4 months 13 days | 2 years 6 months 18 days | 2 years 9 months 14 days |
Schedule of Changes in Fair V45
Schedule of Changes in Fair Value of Financial Liabilities (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Jun. 30, 2017 | |
Derivative Liability (warrants), beginning of period | $ 338,873 | $ 268,611 |
Initial fair value of warrant derivatives at note issuances | 190,812 | |
Fair value of warrant cancelled | 0 | (111,073) |
Fair value of warrant exercised | 0 | (71,595) |
Mark-to-market warrant liability | (258,830) | 252,910 |
Derivative Liability (warrants), end of period | 270,885 | $ 338,873 |
Net gain for the year included in earnings relating to the liabilities held | $ 258,830 |
Schedule of Discontinued Operat
Schedule of Discontinued Operations, Consolidated Statements of Operations and Comprehensive Loss (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Jun. 30, 2017 | |
Revenue | $ 0 | $ 0 | $ 0 | $ 0 | |
Selling, general and administrative | (79) | (61) | (174) | (141) | |
Loss from discontinued operations | $ (79) | $ (61) | $ (174) | $ (141) | $ (141) |
Schedule of Discontinued Oper47
Schedule of Discontinued Operations, Consolidated Balance Sheets (Details) - USD ($) | Mar. 31, 2018 | Jun. 30, 2017 |
Cash and cash equivalents | $ 954 | $ 1,115 |
Receivable, net | 657 | 652 |
Prepaid expenses | 1,839 | 1,824 |
GST Receivable | 16,390 | 16,260 |
Total Current assets | 19,840 | 19,852 |
Accounts payable | $ 6,481 | $ 6,429 |