Notes Payable and Note payable-other | Note 7 – Notes Payable and Note payable-other Short term bridge loan - COHEN On July 31, 2020, the Company secured a $ 500,000 12 12 At June 30, 2021, the Company recorded short term note payable of $ 500,000 55,027 On August 19, 2021, the Company repaid $ 300,000 100,000 At March 31, 2022, the Company recorded short term note payable of $ 100,000 18,649 Note payable – stock purchases under Reg A In March 2021 and June 2021, the Company accepted loans of $ 115,000 20,000 5 In October 2021, the Company accepted a loan of $ 5,000 140,000 115,000 8,736 1,594 As of March 31, 2022 and June 30, 2021, the Company has outstanding $ 430,380 853,244 Note Payable – Other In November 2016, the Company secured a $ 50,000 4 1,000,000 4 As of March 31, 2022 and June 30, 2021, the Company expensed $ 1,500 2,000 10,983 9,283 Convertible note payable – other On March 1, 2016 and March 3, 2016, the Company closed a private placement and received an aggregate of $ 612,500 660,000 13,750 61,250 As of March 31, 2022 and June 30, 2021, the Company reported $ 673,750 673,750 On July 22, 2021, the Company filed suit for damages resulting from the related party. On November 4, 2021, Benza Pharma LLC filed a countersuit. To date, there has been no resolution or settlement. The loans are recognized on the financials with no discount. Convertible Note: Leonite Capital, LLC On November 19, 2019, the Company, together with Hypersoft Ventures (collectively, the “Borrower”), received $ 135,000 150,000 15,000 2,700,000 The Company has determined that the conversion feature embedded in the Leonite Convertible Note constitutes a derivative and has been bifurcated from the Leonite Convertible Note and recorded as a derivative liability, with a corresponding discount recorded to the associated debt, on the accompanying balance sheet, and revalued to fair market value at each reporting period. The initial issuance yielded a derivative liability of $ 94,225 Significant assumptions used in calculating fair value of conversion feature of Leonite Convertible Note at issuance date are as follows: Schedule of fair value of conversion feature Expected Expected Risk-free Expected Exercise Common stock 0.00 809.71 0.0154 0.75 $ 0.02 $ 0.01300 On June 4, 2021, the Company and Leonite renegotiated the convertible note for two years, face value of $ 260,000 On July 29, 2021, Leonite converted $ 42,750 2,250 15,000,000 44,475 2,250 10,269,253 On October 6, 2021, Leonite converted $ 57,952 2,250 13,231,209 125,000 2,250 27,917,969 96,145 Schedule of extinguishment of debt Balance at June 30, 2021 $ 260,000 Accrued interest 9,954 Leonite Convertible Note converted (269,954 ) Total 0 Less: debt discount (0 ) Balance at March 31, 2022 $ 0 The resulting derivative valuation is calculated as follows: Schedule of derivative liabilities at fair value Derivative as of June 30, 2021 $ 281,845 Change in fair value 238,155 520,000 Write off due to conversions (176,800 ) Derivative value as of September 30, 2021 $ 343,200 Change in fair value (25,102 ) 318,098 Write off due to conversion (221,953 ) 96,145 Gain on extinguishment (96,145 ) Derivative as of March 31, 2022 $ – Significant assumptions used in calculating fair value of conversion feature of Leonite Convertible Note as of March 31, 2022 are as follows: Schedule of fair value of conversion features Expected Expected Risk-free Expected term Exercise Common stock 0.00 269.75 0.0007 1.9288 $ 0.00550 $ 0.01 As of March 31, 2022 and June 30, 2021, the Company has recorded $- 0 260,000 Credit line – MediPendant New York Inc. On September 30, 2014, our subsidiary entered into a line of credit with Medi Pendant New York, Inc. (“MNY”), which is partially owned by a principal of its subsidiary. Under the line of credit agreement, the Company will be able to borrow up to $ 500,000 6.5 September 30, 2017 500,000 200,000 28,000 As of March 31, 2022 and June 30, 2021, the Company has recorded $ 397,500 397,500 |