Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Oct. 08, 2021 | |
Document Information Line Items | ||
Entity Registrant Name | SUNHYDROGEN, INC. | |
Document Type | 10-K | |
Current Fiscal Year End Date | --06-30 | |
Entity Common Stock, Shares Outstanding | 4,054,676,450 | |
Entity Public Float | $ 267,705,946 | |
Amendment Flag | false | |
Entity Central Index Key | 0001481028 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Well-known Seasoned Issuer | No | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | FY | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Entity File Number | 000-54437 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 26-4298300 | |
Entity Address, Address Line One | 10 E. Yanonali St., | |
Entity Address, Address Line Two | Suite 36 | |
Entity Address, City or Town | Santa Barbara, | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 93101 | |
City Area Code | (805) | |
Local Phone Number | 966-6566 | |
Entity Interactive Data Current | Yes |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2021 | Jun. 30, 2020 |
CURRENT ASSETS | ||
Cash and cash equivalent | $ 56,006,555 | $ 195,010 |
Prepaid expenses | 9,378 | |
TOTAL CURRENT ASSETS | 56,006,555 | 204,388 |
PROPERTY & EQUIPMENT | ||
Computers and peripherals | 11,529 | 2,663 |
Vehicle | 155,000 | |
Gross property and equipment | 166,529 | 2,663 |
Less: accumulated depreciation | (11,072) | (1,605) |
NET PROPERTY AND EQUIPMENT | 155,457 | 1,058 |
OTHER ASSETS | ||
Domain, net of amortization of $4,577 and $4,223, respectively | 738 | 1,092 |
Trademark, net of amortization of $486 and $371, respectively | 657 | 772 |
Patents, net of amortization of $23,215 and $16,250, respectively | 77,928 | 84,492 |
TOTAL OTHER ASSETS | 79,323 | 86,356 |
TOTAL ASSETS | 56,241,335 | 291,802 |
CURRENT LIABILITIES | ||
Accounts payable and other payable | 223,520 | 201,243 |
Accrued expenses | 11,912 | |
Accrued expenses, related party | 214,820 | 211,496 |
Accrued interest on convertible notes | 282,505 | 432,866 |
Derivative liability | 135,247,303 | 59,657,719 |
Convertible promissory notes, net of debt discount of $442,602 and $409,074, respectively | 125,598 | 160,926 |
TOTAL CURRENT LIABILITIES | 136,105,658 | 60,664,250 |
LONG TERM LIABILITIES | ||
Convertible promissory notes, net of debt discount of $0 and $0, respectively | 703,000 | 1,460,000 |
TOTAL LONG TERM LIABILITIES | 703,000 | 1,460,000 |
TOTAL LIABILITIES | 136,808,658 | 62,124,250 |
COMMITMENTS AND CONTINGENCIES (SEE NOTE 9) | ||
SHAREHOLDERS’ DEFICIT | ||
Preferred Stock, $0.001 par value; 5,000,000 authorized preferred shares, no shares issued or outstanding | ||
Common Stock, $0.001 par value; 5,000,000,000 authorized common shares 3,849,308,495 and 2,053,410,164 shares issued and outstanding, respectively | 3,849,308 | 2,053,410 |
Additional Paid in Capital | 88,560,321 | 11,664,657 |
Accumulated deficit | (172,976,952) | (75,550,515) |
TOTAL SHAREHOLDERS’ DEFICIT | (80,567,323) | (61,832,448) |
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT | $ 56,241,335 | $ 291,802 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - USD ($) | Jun. 30, 2021 | Jun. 30, 2020 |
Statement of Financial Position [Abstract] | ||
Amortization of domain (in Dollars) | $ 4,577 | $ 4,223 |
Amortization of trademark (in Dollars) | 486 | 371 |
Amortization of patents (in Dollars) | 23,215 | 16,250 |
Convertible promissory notes, net of debt discount for current liabilities (in Dollars) | 442,602 | 409,074 |
Convertible promissory notes, net of debt discount for long term liabilities (in Dollars) | $ 0 | $ 0 |
Preferred stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outstanding | ||
Common stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 5,000,000,000 | 5,000,000,000 |
Common stock, shares issued | 3,849,308,495 | 2,053,410,164 |
Common stock, shares outstanding | 3,849,308,495 | 2,053,410,164 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||
REVENUE | ||
OPERATING EXPENSES | ||
General and administrative expenses | 3,787,321 | 1,057,287 |
Research and development cost | 1,997,186 | 615,721 |
Depreciation and amortization | 21,973 | 8,419 |
TOTAL OPERATING EXPENSES | 5,806,480 | 1,681,427 |
LOSS FROM OPERATIONS BEFORE OTHER INCOME (EXPENSES) | (5,806,480) | (1,681,427) |
OTHER INCOME/(EXPENSES) | ||
Other income/(expenses) | 6,835 | (5,426) |
Gain on sale of asset | 1,473 | |
Gain (Loss) on change in derivative liability | (75,139,584) | (54,910,562) |
Interest expense | (560,367) | (931,923) |
TOTAL OTHER INCOME (EXPENSES) | (75,691,643) | (55,847,911) |
NET INCOME (LOSS) | 81,498,123 | (57,529,338) |
COMMON STOCK WARRANTS DEEMED DIVIDENDS | (15,928,314) | |
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ (97,426,437) | $ (57,529,338) |
BASIC AND DILUTED LOSS PER SHARE (in Dollars per share) | $ (0.04) | $ (0.04) |
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING | ||
BASIC AND DILUTED (in Shares) | 2,756,925,374 | 1,551,749,054 |
Statements of Shareholders_defi
Statements of Shareholders’deficit - USD ($) | Preferred stock | Common stock | Additional Paid-in Capital | Accumulated Deficit | Total |
Balance at Jun. 30, 2019 | $ 1,077,319 | $ 10,432,575 | $ (18,021,177) | $ (6,511,283) | |
Balance (in Shares) at Jun. 30, 2019 | 1,077,319,339 | ||||
Issuance of common stock for conversion of debt and accrued interest | $ 884,990 | 492,196 | 1,377,186 | ||
Issuance of common stock for conversion of debt and accrued interest (in Shares) | 884,989,722 | ||||
Issuance of common stock for services | $ 91,101 | 266,033 | 357,134 | ||
Issuance of common stock for services (in Shares) | 91,101,103 | ||||
Stock based compensation expense | 473,853 | 473,853 | |||
Net Loss | (57,529,338) | (57,529,338) | |||
Balance at Jun. 30, 2020 | $ 2,053,410 | 11,664,657 | (75,550,515) | (61,832,448) | |
Balance (in Shares) at Jun. 30, 2020 | 2,053,410,164 | ||||
Issuance of common stock for cash purchase agreements | $ 576,554 | 42,746,796 | 43,323,350 | ||
Issuance of common stock for cash purchase agreements (in Shares) | 576,554,289 | ||||
Issuance of common stock for cash purchase of warrants | $ 252,000 | 18,648,000 | 18,900,000 | ||
Issuance of common stock for cash purchase of warrants (in Shares) | 252,000,000 | ||||
Issuance of common stock for conversion of debt and accrued interest | $ 963,538 | 448,382 | 1,411,920 | ||
Issuance of common stock for conversion of debt and accrued interest (in Shares) | 963,537,752 | ||||
Issuance of common stock for services | $ 3,806 | 114,217 | 118,023 | ||
Issuance of common stock for services (in Shares) | 3,806,290 | ||||
Issuance of common stock warrants deemed dividends | 15,928,314 | (15,928,314) | |||
Stock based compensation expense | 259,955 | 259,955 | |||
Buyback of options by Company | (1,250,000) | (1,250,000) | |||
Net Loss | (81,498,123) | (81,498,123) | |||
Balance at Jun. 30, 2021 | $ 3,849,308 | $ 88,560,321 | $ (172,976,952) | $ (80,567,323) | |
Balance (in Shares) at Jun. 30, 2021 | 3,849,308,495 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Income (loss) | $ (81,498,123) | $ (57,529,338) |
Adjustment to reconcile net income (loss) to net cash (used in) provided by operating activities | ||
Depreciation & amortization expense | 21,973 | 8,419 |
Stock based compensation expense | 259,954 | 473,853 |
Stock issued for services | 118,023 | 357,134 |
Net Loss on change in derivative liability | 75,139,584 | 54,910,562 |
Amortization of debt discount recorded as interest expense | 416,472 | 714,145 |
Gain on sale of van | (1,473) | |
Net loss on write-off of patent cost | 5,426 | |
Change in assets and liabilities : | ||
Prepaid expense | 9,378 | 5,622 |
Accounts payable | 22,277 | 76,257 |
Accrued expenses | 15,235 | 54,607 |
Accrued interest on convertible notes | 117,211 | 227,529 |
NET CASH USED IN OPERATING ACTIVITIES | (5,379,489) | (695,784) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from sale of van | 46,000 | |
Purchase of tangible assets | (213,866) | (780) |
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES: | (167,866) | (780) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Buyback of stock options from related parties | (1,250,000) | |
Net proceeds from common stock purchase agreements | 62,223,350 | |
Cash Payoff of convertible notes | (64,450) | |
Proceeds from convertible debt | 450,000 | 856,500 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 61,358,900 | 856,500 |
NET INCREASE (DECREASE) IN CASH | 55,811,545 | 159,936 |
CASH, BEGINNING OF YEAR | 195,010 | 35,074 |
CASH, END OF YEAR | 56,006,555 | 195,010 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest paid | 26,843 | 2,249 |
Taxes paid | ||
SUPPLEMENTAL DISCLOSURES OF NON CASH TRANSACTIONS | ||
Fair value of common stock upon conversion of convertible notes , accrued interest and other fees | 1,411,920 | 1,377,186 |
Fair value of common stock issued for services | 118,023 | 267,789 |
Fair value of convertible notes at issuance | 450,000 | 841,436 |
Issurance of common stock purchase warrants deemed dividends | $ 15,928,314 |
Organization and Line of Busine
Organization and Line of Business | 12 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND LINE OF BUSINESS | 1. ORGANIZATION AND LINE OF BUSINESS Organization SunHydrogen, Inc. (the “Company”) was incorporated in the state of Nevada on February 18, 2009. The Company, based in Santa Barbara, California, began operations on February 19, 2009 to develop and market a solar concentrator technology. Line of Business The company is currently developing a novel solar-powered nanoparticle system that mimics photosynthesis to separate hydrogen from water. We intend for technology of this system to be used for the production of renewable hydrogen to produce renewable electricity and hydrogen for fuel cells. Going Concern Substantial Doubt Alleviated In connection with the preparation of its financial statements for the years ended June 30, 2021 and 2020, the Company’s management evaluated the Company’s ability to continue as a going concern in accordance with the ASU 2014-15, Presentation of Financial Statements–Going Concern (Subtopic 205-40) As part of its evaluation, management assessed known events, trends, commitments, and uncertainties, which included the amount of capital recently and/or in the process of being raised, and the current level of investment within the green hydrogen industry and the measure of investor confidence. For the year ended June 30, 2021, the Company’s operating loss increased to approximately $81,498,123, compared to an operating loss of approximately $57,529,338 in the prior year ended June 30, 2020. The increase in operating loss consisted primarily of the non-cash change in derivative liability fair value. During the year ended June 30, 2021, the Company consummated financing transactions for up to $62.0 million of proceeds for the purchase of common stock and warrants of the Company. The proceeds were used for general and administration expenses, and the cost of research and development. The research and development transaction is further discussed in Note 8 – Commitments and Contingencies. Based on its evaluation, coupled with the afore-mentioned financing transactions management believes that it has completely mitigated the circumstance that led to a doubt with respect to the Company’s ability to continue as a going concern, which existed at the time of the filing of the Company’s prior annual report. The Company’s cash of $56.0 million as of June 30, 2021 will enable it to meet its obligations for twelve months from the date these financial statements are available to be issued. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This summary of significant accounting policies of SunHydrogen, Inc. is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements. Cash and Cash Equivalent The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Concentration risk Cash includes amounts deposited in financial institutions in excess of insurable Federal Deposit Insurance Company (FDIC) limits. At times throughout the year, the Company may maintain cash balances in certain bank accounts in excess of the FDIC limits. As of June 30, 2021, the cash balance in excess of the FDIC limits was $55,756,555. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk in these accounts. Use of Estimates In accordance with accounting principles generally accepted in the United States, management utilizes estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates and assumptions relate to useful lives and impairment of tangible and intangible assets, accruals, income taxes, stock-based compensation expense, Binomial lattice valuation model inputs, derivative liabilities and other factors. Management believes it has exercised reasonable judgment in deriving these estimates. Consequently, a change in conditions could affect these estimates. Intangible Assets The Company has patent applications to protect the inventions and processes behind its proprietary bio-based back-sheet, a protective covering for the back of photovoltaic solar modules traditionally made from petroleum-based film. Intangible assets that have finite useful lives continue to be amortized over their useful lives. Useful Lives 6/30/2021 6/30/2020 Domain-gross 15 years $ 5,315 $ 5,315 Less accumulated amortization (4,577 ) (4,223 ) Domain-net $ 738 $ 1,092 Trademark-gross 10 years $ 1,143 $ 1,143 Less accumulated amortization (486 ) (371 ) Domain-net $ 657 $ 772 Patents-gross 15 years $ 101,143 $ 107,491 Write-off of patent cost - (6,349 ) Less accumulated amortization (23,215 ) (16,650 ) Patents-net $ 77,928 $ 84,492 The Company recognized amortization expense of $7,033 and $7,651 for the years ended June 30, 2021 and 2020, respectively. Property and Equipment Property and equipment are stated at cost, and are depreciated using straight line over its estimated useful lives: Computers and peripheral equipment 5 Years Vehicle 5 Years During the year ended June 30, 2021, the Company purchased fixed assets in the amount of $213,866. On April 19, 2021, the Company sold a vehicle for cash of $46,000, with a book value of $44,527, and recognized a gain of $1,473. Depreciation expense for the years ended June 30, 2021 and 2020 was $14,940 and $768, respectively. Net Earnings (Loss) per Share Calculations Net earnings (Loss) per share dictates the calculation of basic earnings (loss) per share and diluted earnings per share. Basic earnings (loss) per share are computed by dividing by the weighted average number of common shares outstanding during the year. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the effect of stock options and stock-based awards (Note 4), plus the assumed conversion of convertible debt (Note 5). For the year ended June 30, 2021, the Company calculated the dilutive impact of 182,853,173 outstanding stock options, 94,895,239 outstanding warrants, and convertible debt of $1,271,200, which is convertible into shares of common stock. The stock options, warrants and convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive. For the year ended June 30, 2020, the Company calculated the dilutive impact of the 127,944,458 outstanding stock options, and convertible debt of $2,030,000, which is convertible into shares of common stock. The stock options and convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive. For the Years Ended June 30, 2021 2020 Income (Loss) attributable to common shareholders (Numerator) $ (97,426,437 ) $ (57,529,338 ) Basic weighted average number of common shares outstanding (Denominator) 2,756,925,374 1,551,749,054 Diluted weighted average number of common shares outstanding (Denominator) 2,756,925,374 1,551,749,054 Equity Incentive Plan and Stock Options Equity Incentive Plan On December 17, 2018, the Board of Directors approved and adopted the 2019 Equity Incentive Plan (“the Plan”), with 300,000,000 shares set aside and reserved for issuance pursuant to the Plan. The purpose of the Plan is to promote the success of the Corporation and to increase stockholder value by providing an additional means through the grant of awards to attract, motivate, retain and reward selected employees and other eligible persons. The awards are performance-based compensation that are granted under the Plan as incentive stock options (ISO) or nonqualified stock options. The per share exercise price for each option shall not be less than 100% of the fair market value of a share of common stock on the date of grant of the option. The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing cost. The Company accounts for stock option grants issued and vesting to employees and non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested, and the total stock-based compensation charge is recorded in the period of the measurement date. The Company granted options to purchase 170,000,000 shares of common stock options on January 23, 2019. During the year ended June 30, 2021, the Company redeemed 13,146,826 stock options. As of June 30, 2021, there were 182,853,174 stock options issued, and a reserve of 117,146,826. Stock based Compensation The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option and warrant grants issued and vesting to employees based on the authoritative guidance provided by the Financial Accounting Standards Board whereas the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, the option grants immediately vest, and the total stock-based compensation charge is recorded in the period of the measurement date. Fair Value of Financial Instruments Fair value of financial instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of June 30, 2021, the amounts reported for cash, accrued interest and other expenses, notes payables, convertible notes, and derivative liability approximate the fair value because of their short maturities. We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include: ● Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. We measure certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows at June 30, 2021 and 2020 (See Note 6): Total (Level 1) (Level 2) (Level 3) Liabilities Derivative liability measured at fair value at 6/30/21 $ 135,247,303 $ - $ - $ 135,247,303 Derivative liability measured at fair value at 6/30/20 $ 59,657,718 $ - $ - $ 59,657,718 The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: Balance as of June 30, 2019 $ 3,905,721 Fair value of derivative liabilities at issuance 841,436 Gain on change in derivative liability 54,910,562 Balance as of June 30, 2020 59,657,719 Fair value of derivative liabilities issued 450,000 Loss on change in derivative liability 75,139,584 Balance as of June 30, 2021 $ 135,247,303 Research and Development Research and development costs are expensed as incurred. Total research and development costs were $1,997,186 and $615,721 for the years ended June 30, 2021 and 2020, respectively. Accounting for Derivatives The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average series Binomial lattice formula pricing models to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. Income Taxes Deferred income taxes are provided using the liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of the changes in tax laws and rates of the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. 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. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than (50%) fifty percent likely to be realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Recently Issued Accounting Pronouncements In June 2018, FASB issued accounting standards update ASU 2018-07, (Topic 505) – “Shared-Based Payment Arrangements with Nonemployees”, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees will be aligned with the requirements for share-based payments granted to employees. Under the ASU 2018-07, the measurement of equity-classified nonemployee share-based payments will be fixed on the grant date, as defined in ASC 718, and will use the term nonemployee vesting period, rather than requisite service period. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. 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. Early adoption is permitted if financial statements have not yet been issued. The Company has evaluated the impact of the adoption of ASU-2018-07, on the Company’s financial statements, and there was no impact. In August 2018, the FASB issued accounting standards update ASU 2018-13, (Topic 820) - “Fair Value Measurement”, which changes the unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance. The Company has evaluated the impact of the adoption of ASU-2018-07, on the Company’s financial statements, and there was no impact. Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. |
Capital Stocks
Capital Stocks | 12 Months Ended |
Jun. 30, 2021 | |
Stockholders' Equity Note [Abstract] | |
CAPITAL STOCKS | 3. CAPITAL STOCKS Year ended June 30, 2021 During the year ended June 30, 2021, the Company issued 576,554,289 shares of common stock under purchase agreements for cash at prices ranging from $0.022 - $0.15 per share for aggregate net proceeds of $43,323,350. During the year ended June 30, 2021, the Company issued 252,000,000 shares of common stock upon exercise of warrants at an exercise price of $0.075 per share for gross proceeds of $18,900,000. During the year ended June 30, 2021, the Company issued 963,537,752 shares of common stock upon conversion of convertible notes in the amount of $1,144,350 of principal, plus accrued interest of $265,770 and other fees of $1,800 based upon conversion prices ranging from $0.00095 - $0.017995 per share. All note conversions were performed per the terms of their respective agreements and therefore no gain or loss on the conversion was recorded. During the year ended June 30, 2021, the Company issued 3,806,290 shares of common stock for services rendered at fair value prices of $0.028 - $0.035 per share in the aggregate amount of $118,023. Year ended June 30, 2020 During the year ended June 30, 2020, the Company issued 884,989,722 shares of common stock upon conversion of convertible notes in the amount of $1,166,986 in principal, plus accrued interest of $198,200 and other fees of $12,000 based upon conversion prices ranging from $0.00095 - $0.0041. During the year ended June 30, 2020, the Company issued 91,101,103 shares of common stock for services rendered at fair value prices of $0.002 - $0.0072 per share in the aggregate amount of $357,134. |
Options
Options | 12 Months Ended |
Jun. 30, 2021 | |
Share-based Payment Arrangement [Abstract] | |
OPTIONS | 4. OPTIONS Stock Option Plan On October 2, 2017, the Company granted options to purchase 10,000,000 shares of common stock. Each option expires on the date specified in the option agreement, which date is not later than the fifth (5 th On January 23, 2019, the Company granted options to purchase 170,000,000 shares of common stock. One-third of the options vested immediately, and the remainder vested 1/24 per month over the first twenty-four months following the option grant. The first block was exercisable immediately for a period of seven (7) years. The options fully vest by January 23, 2022. The Company redeemed 10,515,247 of these options for $1,000,000 in cash. As of June 30, 2021, there were 159,484,753 of these options were exercisable. On January 31, 2019, the Company issued options to purchase 6,000,000 shares of common stock, of which two-third (2/3) vest immediately, and the remaining options vest one-twelfth (1/12) per month from after the date of these options (remaining block). The first block were exercisable immediately for a period of seven (7) years. The options fully vested on January 31, 2020 and are exercisable. On July 22, 2019, the Company issued options to purchase 10,000,000 shares of common stock, of which one-third (1/3) vest immediately, and the remaining options vest one-twenty fourth (1/24) per month from after the date of these options (remaining block). The first block shall become exercisable immediately for a period of seven (7) years. The options fully vest by July 22, 2021 and are exercisable. A summary of the Company’s stock option activity and related information follows: 6/30/21 6/30/20 Weighted Weighted Number average Number average Of exercise of exercise Options price Options price Outstanding, beginning of period 196,000,000 $ 0.01 186,250,000 $ 0.01 Granted - $ 0.01 10,000,000 $ 0.01 Exercised - - - - Forfeited - - (250,000 ) - Buyback of options (13,146,826 ) $ 0.0099 - - Outstanding, end of period 182,853,174 $ 0.0089 196,000,000 $ 0.01 Exercisable at the end of period 182,853,174 $ 0.0089 160,493,150 $ 0.01 During the year ended June 30, 2021, the Company bought back a total of 13,146,826 of the Company’s stock options for a total redemption price of $1,250,000. The weighted average remaining contractual life of options outstanding as of June 30, 2021 and 2020 was as follows: 6/30/21 6/30/20 Exercise Stock Options Outstanding Stock Options Exercisable Weighted Average Remaining Contractual Life (years) Exercise Stock Options Outstanding Stock Options Exercisable Weighted Average Remaining Contractual Life (years) $ 0.0100 7,368,421 7,368,421 1.26 $ 0.0100 10,000,000 10,000,000 2.26 $ 0.0097 6,000,000 6,000,000 4.59 0.0097 6,000,000 6,000,000 5.59 $ 0.0099 159,484,753 159,484,753 4.57 $ 0.0099 170,000,000 156,867,579 5.57 $ 0.0060 10,000,000 10,000,000 4.57 $ 0.0060 10,000,000 10,000,000 5.57 182,853,174 182,853,174 196,250,000 179,117,579 6/30/2021 6/30/2020 Risk free interest rate 1.47% - 2.58% 1.94% Stock volatility factor 54.99% - 189.01% 146% Weighted average expected option life 6 years 7 years Expected dividend yield None None The stock-based compensation expense recognized in the statement of operations during the years ended June 30, 2021 and 2020, related to the granting of these options was $259,955 and $473,853, respectively. WARRANTS On December 3, 2020, the Company issued warrants to purchase 120.0 million shares of common stock with an exercise price of $0.075 per share pursuant to a securities purchase agreement. The warrants were exercisable upon issuance. During the year ended June 30, 2021, the warrants were exercised for aggregate gross proceeds of $9,000,000. As of June 30, 2021, all of the December 3, 2020 warrants were exercised. On December 29, 2020, the 120.0 million warrants issued on December 3, 2020, were exercised for aggregate gross proceeds of $9.0 million, and as consideration for the exercise the investor was issued additional warrants to purchase 132.0 million shares of common stock at an exercise price of $0.075. The 132.0 million warrants were deemed to be a dividend and were estimated at fair value of $15,928,314 using the Black-Scholes valuation model. During the year ended June 30, 2021, the warrants were exercised for aggregate gross proceeds of $9,900,000. As of June 30, 2021, all of the December 2020 warrants were exercised. During the year ended June 30, 2021, the Company issued additional warrants to purchase an aggregate of 94,895,239 shares of common stock under securities purchase agreements at exercise prices ranging from $0.0938 - $0.13125 per share. The warrants were estimated at fair value on the date of issuance as calculated using the Black-Scholes valuation model. The estimated fair value of the warrants was $6,645,870, which was recognized in the financial statements as of June 30, 2021. The warrants can be exercised over a three (3) year period. As of June 30, 2021, all of the warrants were exercisable. A summary of the Company’s warrant activity and related information follows for the year ended June 30, 2021 listed below. 6/30/21 Weighted Number average of exercise Warrants price Outstanding, beginning of year - $ - Granted 346,895,239 $ 0.086 Exercised (252,000,000 ) $ (0.075 ) Forfeited/Expired - - Outstanding, end of year 94,895,239 $ 0.11 Exercisable at the end of year 94,895,239 $ 0.11 |
Convertible Promissory Notes
Convertible Promissory Notes | 12 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE PROMISSORY NOTES | 5. CONVERTIBLE PROMISSORY NOTES As of June 30, 2021, the outstanding convertible promissory notes, net of debt discount of $442,602 are summarized as follows: Convertible Promissory Notes, net of debt discount $ 828,598 Less current portion 125,398 Total long-term liabilities $ 703,200 Maturities of long-term debt net of debt discount for the next four years are as follows: Period Ended June 30, Amount 2022 568,200 2023 553,000 2024 140,000 2025 10,000 $ 1,271,200 At June 30, 2021, the $1,271,200 in convertible promissory notes had a remaining debt discount of $442,602, leaving a net balance of $828,598. The Company issued a 10% convertible promissory note on January 28, 2016 (the “Jan 2016 Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $10,000. The Company received additional tranches in the amount of $490,000 for an aggregate sum of $500,000. The Jan 2016 Note matures twelve (12) months from the effective date of the note. On January 19, 2017, the investor extended the Jan 2016 Note for an additional sixty (60) months from the effective date of the note, which matures on January 27, 2022. The Jan 2016 Note was convertible into shares of common stock of the Company at a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of the note or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company failed to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, had the right to rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the Jan 2016 Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day would be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. During the year ended June 30, 2021, the Company issued 367,702,192 common shares upon conversion of principal in the amount of $245,550, plus interest of $103,768, and paid off the balance of Note in the amount of $64,450 for cash. The balance of the Jan 2016 Note as of June 30, 2021 was $0. The Company issued a 10% convertible promissory note on February 3, 2017 (the “Feb 2017 Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $60,000. The Company received additional tranches in the amount of $440,000 for an aggregate sum of $500,000. The Feb 2017 Note had a maturity date of February 3, 2018, the investor extended the Feb 2017 Note for an additional sixty (60) months from the effective date of the note, which matures on February 3, 2022. The Feb 2017 Note is convertible into shares of common stock of the Company at a a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of the note or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the Feb 2017 Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event, that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. During the year ended on June 30, 2021, the Company issued 283,810,696 shares of common stock upon conversion of principal in the amount of $191,800, plus accrued interest of $77,820. The balance of the Feb 2017 Note as of June 30, 2021 was $308,200. The Company issued a 10% convertible promissory note on November 9, 2017 (the “Nov 2017 Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $45,000. The Company received additional tranches in the amount of $455,000 for an aggregate sum of $500,000. The Nov 2017 Note matures twelve (12) months from the effective dates of each respective tranche. The Nov 2017 Note matures on November 9, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. The Nov 2017 Note is convertible into shares of common stock of the Company at a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the Nov 2017 Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. During the year ended June 30, 2021, the Company issued 258,232,440 shares of common stock upon conversion of principal in the amount of $187,000, plus accrued interest of $58,321. The balance of the Nov 2017 Note as of June 30, 2021 was $313,000. The Company issued a 10% convertible promissory note on June 27, 2018 (the “Jun 2018 Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $50,000. On October 9, 2018 and June 24, 2021, the Company received another tranche of $40,000 and $410,000 respectively, for a total aggregate of $500,000 as of June 30, 2021. The Jun 2018 Note matured on June 27, 2019, which was automatically extended for sixty (60) months from the effective date of the note. The Jun 2018 Note is convertible into shares of common stock of the Company at a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of the note or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the Jun 2018 Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event, that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $6,740 during the year ended June 30, 2021. The balance of the Jun 2018 Note as of June 30, 2021 was $500,000. The Company issued a 10% convertible promissory note on August 10, 2018 (the “Aug 2018 Note”) in the aggregate principal amount of up to $100,000. The Aug 2018 Note had a maturity date of August 10, 2019, with an extension of sixty (60) months from the date of the note. The Aug 2018 Note matures on August 10, 2023. The Aug 2018 Note may be converted into shares of the Company’s common stock at a conversion price of the lesser of a) $0.005 per share or b) sixty-one (61%) percent of the lowest trading price per common stock recorded on any trade day after the effective date. The conversion feature of the Aug 2018 Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Note. The balance of the Aug 2018 Note as of June 30, 2021 was $100,000. On January 20, 2020, the Company issued a 10% convertible promissory note (the “Jan 2020 Note”) to an investor (the “Jan 2020 Note”) in the principal amount of $80,000. The Company received funds of $78,000, less other fees of $2,000. The Jan 2020 Note had a maturity date of January 20, 2021. The Jan 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the Jan 2020 Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Jan 2020 Note. During the year ended June 30, 2021, the Company issued 23,420,128 shares of common stock upon conversion of principal in the amount of $80,000, plus accrued interest of $3,989, and other fees of $300. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $42,404 during the year ended June 30, 2021. The Jan 2020 Note was fully converted as of June 30, 2021. On February 11, 2020, the Company issued a convertible promissory note (the “Feb 2020 Note”) to an investor (the “Feb 2020 Note”) in the principal amount of $80,000. The Company received funds of $78,000, less other fees of $2,000. The Feb 2020 Note had a maturity date of February 11, 2021. The Feb 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the Feb 2020 Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Feb 2020 Note. During the year ended June 30, 2021, the Company issued 5,294,205 shares of common stock upon conversion of principal in the amount of $80,000, plus accrued interest of $3,989, and other fees of $300. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $49,399 during the year ended June 30, 2021. The Feb 2020 Note was fully converted as of June 30, 2021. On March 9, 2020, the Company issued a convertible promissory note (the “Mar 2020 Note”) to an investor (the “Mar 2020 Note”) in the principal amount of $40,000. The Company received funds of $38,000, less other fees of $2,000. The Mar 2020 Note had a maturity date of March 9, 2021. The Mar 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the Mar 2020 Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Mar 2020 Note. During the year ended June 30, 2021, the Company issued 2,390,871 shares of common stock upon conversion of principal in the amount of $40,000, plus accrued interest of $1,995, and other fees of $300. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $25,708 during the year ended June 30, 2021. The Mar 2020 Note was fully converted as of June 30, 2021. On April 14, 2020, the Company issued a convertible promissory note (the “April 2020 Note”) to an investor in the principal amount of $80,000. The Company received funds of $78,000, less other fees of $2,000. The April 2020 Note matures on April 14, 2021. The April 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the average of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the April 2020 Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the April 2020 Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $63,342 during the year ended June 30, 2021. During the year ended June 30, 2021, the Company issued 5,315,949 shares of common stock upon conversion of principal in the amount of $80,000, plus accrued interest of $4,011, and other fees of $300. The April 2020 Note was fully converted as of June 30, 2021. On April 15, 2020, the Company entered into a convertible promissory note (the “Apr 2020 Note”) with an investor, providing for the sale by the Company of a 10% unsecured convertible note (the “Apr 2020 Note”) in the aggregate principal amount of $50,000, of which the Company received $10,000 upon execution, and an additional tranche of $40,000, for an aggregate of $50,000. The Apr 2020 Note matures twelve (12) months from the effective dates of each respective tranche. The Apr 2020 Note matured on April 15, 2021, and the investor extended the Apr 2020 Note for an additional sixty (60) months from the effective date of the note, which matures on April 15, 2025. The Apr Note is convertible into shares of common stock of the Company at a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price of common stock recorded on any trade day after the effective date, or (c) the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of four (4) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the Apr 2020 Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $2,000 per day shall be assessed for each day after the fourth business day (inclusive of the day of the conversion) until the shares are delivered. The conversion feature of the April 2020 Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Apr 2020 Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $4,050 during the year ended June 30, 2021. The balance of the Apr 2020 Note as of June 30, 2021 was $50,000. On May 19, 2020, the Company issued a convertible promissory note (the “May 2020 Note”) to an investor in the principal amount of $80,000. The Company received funds of $78,000, less other fees of $2,000. The May 2020 Note had a maturity date of May 19, 2021. The May 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the May 2020 Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the May 2020 Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $70,795 during the year ended June 30, 2021. During the year ended June 30, 2021, the Company issued 5,933,503 shares of common stock upon conversion of principal in the amount of $80,000, plus accrued interest of $4,033, and other fees of $300. The May 2020 Note was fully converted as of June 30, 2021. On June 18, 2020, the Company issued a convertible promissory note (the “June 2020 Note”) to an investor in the principal amount of $160,000. The Company received funds of $156,000, less other fees of $4,000. The Jun 2020 Note had a maturity date of June 19, 2021.The Jun 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the average of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the Jun 2020 Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Jun 2020 Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $154,740. During the year ended June 30, 2021 the Company issued 11,437,764 shares of common stock upon conversion of principal in the amount of $160,000, plus accrued interest of $7,847, and other fees of $300.The Jun 2020 Note was fully converted as of June 30, 2021. All note conversions were performed per the terms of their respective agreements and therefore no gain or loss on the conversion was recorded. |
Derivative Liabilities
Derivative Liabilities | 12 Months Ended |
Jun. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE LIABILITIES | 6. DERIVATIVE LIABILITIES ASC Topic 815 provides guidance applicable to convertible debt issued by the Company in instances where the number into which the debt can be converted is not fixed. For example, when a convertible debt converts at a discount to market based on the stock price on the date of conversion, ASC Topic 815 requires that the embedded conversion option of the convertible debt be bifurcated from the host contract and recorded at their fair value. In accounting for derivatives under accounting standards, the Company recorded a liability representing the estimated present value of the conversion feature considering the historic volatility of the Company’s stock, and a discount representing the imputed interest associated with the embedded derivative. The discount is amortized over the life of the convertible debt, and the derivative liability is adjusted periodically according to stock price fluctuations. The convertible notes (the “Notes”) issued do not have fixed settlement provisions because their conversion prices are not fixed. The conversion features have been characterized as derivative liabilities to be re-measured at the end of every reporting period with the change in value reported in the statement of operations. During the year ended June 30, 2021, as a result of the Notes issued that were accounted for as derivative liabilities, we determined that the fair value of the conversion feature of the convertible notes at issuance was $450,000, based upon the Binomial lattice formula. We recorded the full value of the derivative as a liability at issuance with an offset to valuation discount, which will be amortized over the life of the Notes. As of June 30, 2021 and June 30, 2020, as the number of common stock shares to be issued under the convertible note payable is indeterminate, and the Company concluded that the equity environment is tainted, and all issued warrants and convertible notes payable are included in the value of the derivative. During the year ended June 30, 2021, the Company recorded a net loss in change in derivative of $75,139,584 in the statement of operations due to the change in fair value of the remaining notes and warrants issued, for the year ended June 30, 2021. At June 30, 2021, the fair value of the derivative liability was $135,247,303. For purpose of determining the fair market value of the derivative liability for the embedded conversion, the Company used the Binomial lattice formula. The significant assumptions used in the Binomial lattice formula of the derivatives are as follows: Risk free interest rate 0.07% - 0.87% Stock volatility factor 145.0% - 212.0% Weighted average expected option life 0 months - 5 year Expected dividend yield None |
Deferred Tax Benefit
Deferred Tax Benefit | 12 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
DEFERRED TAX BENEFIT | 7. DEFERRED TAX BENEFIT The Company files income tax returns in the U.S. Federal jurisdiction, and the state of California. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2018. Deferred income taxes have been provided by temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for tax purposes. To the extent allowed by GAAP, we provide valuation allowances against the deferred tax assets for amount when the realization is uncertain. Included in the balance at June 30, 2021 and 2020, are no tax positions for which the ultimate deductibility is highly certain, but for which there is uncertainty about the timing of such deductibility. Because of the impact of deferred tax accounting, other than interest and penalties, the disallowance of the shorter deductibility period would not affect the annual effective tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. The Company’s policy is to recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the periods ended June 30, 2021 and 2020, the Company did not recognize interest or penalties. At June 30, 2021, the Company had net operating loss carry-forward of approximately $9,497,900, which expires in future years. No tax benefit has been reported in the June 30, 2021 and 2020 financial statements, since the potential tax benefit is offset by a valuation allowance of the same amount. The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the years ended June 30, 2021 and 2020 due to the following: 6/30/2021 6/30/2020 Book income (loss) $ (15,718,840 ) $ 1,193,500 Non-deductible expenses 15,976,835 (1,520,850 ) Depreciation and amortization (480 ) 45 Related party accrual - (5,100 ) Gain on abandoned asset 1,100 Valuation Allowance -(258,622) 332,405 Income tax expense $ - $ - Deferred taxes are provided on a liability method, whereby deferred tax assets are recognized for deductible differences and operating loss and tax credit carry-forward and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the difference between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Net deferred tax liabilities consist of the following components as of June 30, 2021 and 2020: 6/30/2021 6/30/2020 Deferred tax assets: NOL carryover $ 1,385,455 $ 1,621,680 Research and development 351,695 104,500 Related party accrual 44,470 44,470 Deferred tax liabilities: Depreciation and amortization $ (4,885 ) $ (3,610 ) Less Valuation Allowance $ (1,776,735 ) $ (1,767,040 ) Income tax expense $ - $ - Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry-forward for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry-forward may be limited as to use in future years. The Company’s tax returns for the previous three years remain open for audit by the respective tax jurisdictions |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 8. COMMITMENTS AND CONTINGENCIES On September 15, 2020, the Company entered into a marketing agreement. The fees are to be paid in cash and registered unrestricted stock. As of March 31, 2021, the Company has paid a $34,250 deposit, with the balance of the payments and the stock issuances due upon completion of a deliverable. Effective September 1, 2020, the Company entered into a research agreement with the University of Iowa. As consideration under the research agreement, the University of Iowa will receive a maximum of $299,966 from the Company. The research agreement may be terminated by either party upon sixty (60) day prior written notice or a material breach or default, which is not cured within 90 days of receipt of a written notice of such breach. The term of the research agreement is from September 1, 2020 through August 31, 2021. As of June 30, 2021, the Company has accrued the amount due of $99,989. In the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position or results of operation. |
Related Party
Related Party | 12 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY | 9. RELATED PARTY Year ended June 30, 2021 As of June 30, 2021, the Company reported an accrual associated with the CEO’s prior years salary in the amount of $211,750, which is recorded in accrued expenses, related party. The Company began accruing the salary in 2011 and used the funds for operating expenses. The CEO will be paid during the next fiscal year. During the year ended June 30, 2021, the Company redeemed 13,146,826 stock options for a total redemption price of $1,250,000. During the year ended June 30, 2021, the Company issued 3,806,290 shares of common stock to a related party for services rendered at fair value prices of $0.028 - $0.035 per share in the aggregate amount of $118,023. Year ended June 30, 2020 During the year ended June 30, 2020, the Company issued 91,101,103 shares of common stock to a related party for services rendered at fair value prices of $0.002 - $0.0072 per share in the aggregate amount of $357,134. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 10. SUBSEQUENT EVENTS Management evaluated subsequent events as of the date of the financial statements pursuant to ASC TOPIC 855, and reported the following events: On July 20, 2021, the Company redeemed a total of 24,887,263 stock options for a total redemption price of $1,450,000. On September 2, 2021, the Company issued 180,480,692 shares of common stock upon conversion of principal in the amount of $120,400, plus accrued interest of $51,057. Effective September 1, 2021, the Company entered into a new research agreement with the University of Iowa. As consideration under the research agreement, the University of Iowa will receive a maximum of $350,000 from the Company. The research agreement may be terminated by either party upon sixty (60) day prior written notice or a material breach or default, which is not cured within 90 days of receipt of a written notice of such breach. This agreement was signed by the Company on September 13, 2021. Effective October 1, 2021, the Company entered into a research agreement with the University of Michigan. As consideration under the research agreement, the University of Michigan will receive a maximum of $296,448, from the Company. The research agreement may be terminated by either party upon ninety (90) day prior written notice or a material breach or default, which is not cured within 90 days of receipt of a written notice of such breach. This agreement was signed by the Company on September 23, 2021. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalent | Cash and Cash Equivalent The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. |
Concentration risk | Concentration risk Cash includes amounts deposited in financial institutions in excess of insurable Federal Deposit Insurance Company (FDIC) limits. At times throughout the year, the Company may maintain cash balances in certain bank accounts in excess of the FDIC limits. As of June 30, 2021, the cash balance in excess of the FDIC limits was $55,756,555. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk in these accounts. |
Use of Estimates | Use of Estimates In accordance with accounting principles generally accepted in the United States, management utilizes estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates and assumptions relate to useful lives and impairment of tangible and intangible assets, accruals, income taxes, stock-based compensation expense, Binomial lattice valuation model inputs, derivative liabilities and other factors. Management believes it has exercised reasonable judgment in deriving these estimates. Consequently, a change in conditions could affect these estimates. |
Intangible Assets | Intangible Assets The Company has patent applications to protect the inventions and processes behind its proprietary bio-based back-sheet, a protective covering for the back of photovoltaic solar modules traditionally made from petroleum-based film. Intangible assets that have finite useful lives continue to be amortized over their useful lives. Useful Lives 6/30/2021 6/30/2020 Domain-gross 15 years $ 5,315 $ 5,315 Less accumulated amortization (4,577 ) (4,223 ) Domain-net $ 738 $ 1,092 Trademark-gross 10 years $ 1,143 $ 1,143 Less accumulated amortization (486 ) (371 ) Domain-net $ 657 $ 772 Patents-gross 15 years $ 101,143 $ 107,491 Write-off of patent cost - (6,349 ) Less accumulated amortization (23,215 ) (16,650 ) Patents-net $ 77,928 $ 84,492 The Company recognized amortization expense of $7,033 and $7,651 for the years ended June 30, 2021 and 2020, respectively. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost, and are depreciated using straight line over its estimated useful lives: Computers and peripheral equipment 5 Years Vehicle 5 Years During the year ended June 30, 2021, the Company purchased fixed assets in the amount of $213,866. On April 19, 2021, the Company sold a vehicle for cash of $46,000, with a book value of $44,527, and recognized a gain of $1,473. Depreciation expense for the years ended June 30, 2021 and 2020 was $14,940 and $768, respectively. |
Net Earnings (Loss) per Share Calculations | Net Earnings (Loss) per Share Calculations Net earnings (Loss) per share dictates the calculation of basic earnings (loss) per share and diluted earnings per share. Basic earnings (loss) per share are computed by dividing by the weighted average number of common shares outstanding during the year. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the effect of stock options and stock-based awards (Note 4), plus the assumed conversion of convertible debt (Note 5). For the year ended June 30, 2021, the Company calculated the dilutive impact of 182,853,173 outstanding stock options, 94,895,239 outstanding warrants, and convertible debt of $1,271,200, which is convertible into shares of common stock. The stock options, warrants and convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive. For the year ended June 30, 2020, the Company calculated the dilutive impact of the 127,944,458 outstanding stock options, and convertible debt of $2,030,000, which is convertible into shares of common stock. The stock options and convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive. For the Years Ended June 30, 2021 2020 Income (Loss) attributable to common shareholders (Numerator) $ (97,426,437 ) $ (57,529,338 ) Basic weighted average number of common shares outstanding (Denominator) 2,756,925,374 1,551,749,054 Diluted weighted average number of common shares outstanding (Denominator) 2,756,925,374 1,551,749,054 |
Equity Incentive Plan and Stock Options | Equity Incentive Plan and Stock Options Equity Incentive Plan On December 17, 2018, the Board of Directors approved and adopted the 2019 Equity Incentive Plan (“the Plan”), with 300,000,000 shares set aside and reserved for issuance pursuant to the Plan. The purpose of the Plan is to promote the success of the Corporation and to increase stockholder value by providing an additional means through the grant of awards to attract, motivate, retain and reward selected employees and other eligible persons. The awards are performance-based compensation that are granted under the Plan as incentive stock options (ISO) or nonqualified stock options. The per share exercise price for each option shall not be less than 100% of the fair market value of a share of common stock on the date of grant of the option. The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing cost. The Company accounts for stock option grants issued and vesting to employees and non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested, and the total stock-based compensation charge is recorded in the period of the measurement date. The Company granted options to purchase 170,000,000 shares of common stock options on January 23, 2019. During the year ended June 30, 2021, the Company redeemed 13,146,826 stock options. As of June 30, 2021, there were 182,853,174 stock options issued, and a reserve of 117,146,826. |
Stock Based Compensation | Stock based Compensation The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option and warrant grants issued and vesting to employees based on the authoritative guidance provided by the Financial Accounting Standards Board whereas the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, the option grants immediately vest, and the total stock-based compensation charge is recorded in the period of the measurement date. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair value of financial instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of June 30, 2021, the amounts reported for cash, accrued interest and other expenses, notes payables, convertible notes, and derivative liability approximate the fair value because of their short maturities. We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include: ● Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; ● Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and ● Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. We measure certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows at June 30, 2021 and 2020 (See Note 6): Total (Level 1) (Level 2) (Level 3) Liabilities Derivative liability measured at fair value at 6/30/21 $ 135,247,303 $ - $ - $ 135,247,303 Derivative liability measured at fair value at 6/30/20 $ 59,657,718 $ - $ - $ 59,657,718 The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: Balance as of June 30, 2019 $ 3,905,721 Fair value of derivative liabilities at issuance 841,436 Gain on change in derivative liability 54,910,562 Balance as of June 30, 2020 59,657,719 Fair value of derivative liabilities issued 450,000 Loss on change in derivative liability 75,139,584 Balance as of June 30, 2021 $ 135,247,303 |
Research and Development | Research and Development Research and development costs are expensed as incurred. Total research and development costs were $1,997,186 and $615,721 for the years ended June 30, 2021 and 2020, respectively. |
Accounting for Derivatives | Accounting for Derivatives The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average series Binomial lattice formula pricing models to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. |
Income Taxes | Income Taxes Deferred income taxes are provided using the liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of the changes in tax laws and rates of the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. 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. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than (50%) fifty percent likely to be realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In June 2018, FASB issued accounting standards update ASU 2018-07, (Topic 505) – “Shared-Based Payment Arrangements with Nonemployees”, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees will be aligned with the requirements for share-based payments granted to employees. Under the ASU 2018-07, the measurement of equity-classified nonemployee share-based payments will be fixed on the grant date, as defined in ASC 718, and will use the term nonemployee vesting period, rather than requisite service period. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. 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. Early adoption is permitted if financial statements have not yet been issued. The Company has evaluated the impact of the adoption of ASU-2018-07, on the Company’s financial statements, and there was no impact. In August 2018, the FASB issued accounting standards update ASU 2018-13, (Topic 820) - “Fair Value Measurement”, which changes the unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance. The Company has evaluated the impact of the adoption of ASU-2018-07, on the Company’s financial statements, and there was no impact. Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Schedule of intangible assets finite amortized over useful lives | Useful Lives 6/30/2021 6/30/2020 Domain-gross 15 years $ 5,315 $ 5,315 Less accumulated amortization (4,577 ) (4,223 ) Domain-net $ 738 $ 1,092 Trademark-gross 10 years $ 1,143 $ 1,143 Less accumulated amortization (486 ) (371 ) Domain-net $ 657 $ 772 Patents-gross 15 years $ 101,143 $ 107,491 Write-off of patent cost - (6,349 ) Less accumulated amortization (23,215 ) (16,650 ) Patents-net $ 77,928 $ 84,492 |
Schedule of property and equipment estimated useful lives | Computers and peripheral equipment 5 Years Vehicle 5 Years |
Schedule of net earnings per share calculations | For the Years Ended June 30, 2021 2020 Income (Loss) attributable to common shareholders (Numerator) $ (97,426,437 ) $ (57,529,338 ) Basic weighted average number of common shares outstanding (Denominator) 2,756,925,374 1,551,749,054 Diluted weighted average number of common shares outstanding (Denominator) 2,756,925,374 1,551,749,054 |
Schedule of measurement of assets and liabilities at fair value on recurring basis | Total (Level 1) (Level 2) (Level 3) Liabilities Derivative liability measured at fair value at 6/30/21 $ 135,247,303 $ - $ - $ 135,247,303 Derivative liability measured at fair value at 6/30/20 $ 59,657,718 $ - $ - $ 59,657,718 |
Schedule of reconciliation of the derivative liability | Balance as of June 30, 2019 $ 3,905,721 Fair value of derivative liabilities at issuance 841,436 Gain on change in derivative liability 54,910,562 Balance as of June 30, 2020 59,657,719 Fair value of derivative liabilities issued 450,000 Loss on change in derivative liability 75,139,584 Balance as of June 30, 2021 $ 135,247,303 |
Options (Tables)
Options (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of the company's stock option activity and related information | 6/30/21 6/30/20 Weighted Weighted Number average Number average Of exercise of exercise Options price Options price Outstanding, beginning of period 196,000,000 $ 0.01 186,250,000 $ 0.01 Granted - $ 0.01 10,000,000 $ 0.01 Exercised - - - - Forfeited - - (250,000 ) - Buyback of options (13,146,826 ) $ 0.0099 - - Outstanding, end of period 182,853,174 $ 0.0089 196,000,000 $ 0.01 Exercisable at the end of period 182,853,174 $ 0.0089 160,493,150 $ 0.01 |
Schedule of weighted average remaining contractual life of options outstanding | 6/30/21 6/30/20 Exercise Stock Options Outstanding Stock Options Exercisable Weighted Average Remaining Contractual Life (years) Exercise Stock Options Outstanding Stock Options Exercisable Weighted Average Remaining Contractual Life (years) $ 0.0100 7,368,421 7,368,421 1.26 $ 0.0100 10,000,000 10,000,000 2.26 $ 0.0097 6,000,000 6,000,000 4.59 0.0097 6,000,000 6,000,000 5.59 $ 0.0099 159,484,753 159,484,753 4.57 $ 0.0099 170,000,000 156,867,579 5.57 $ 0.0060 10,000,000 10,000,000 4.57 $ 0.0060 10,000,000 10,000,000 5.57 182,853,174 182,853,174 196,250,000 179,117,579 |
Schedule of weighted average remaining contractual life of options outstanding | 6/30/2021 6/30/2020 Risk free interest rate 1.47% - 2.58% 1.94% Stock volatility factor 54.99% - 189.01% 146% Weighted average expected option life 6 years 7 years Expected dividend yield None None |
Schedule of company’s warrant activity and related information | 6/30/21 Weighted Number average of exercise Warrants price Outstanding, beginning of year - $ - Granted 346,895,239 $ 0.086 Exercised (252,000,000 ) $ (0.075 ) Forfeited/Expired - - Outstanding, end of year 94,895,239 $ 0.11 Exercisable at the end of year 94,895,239 $ 0.11 |
Convertible Promissory Notes (T
Convertible Promissory Notes (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of convertible promissory notes | Convertible Promissory Notes, net of debt discount $ 828,598 Less current portion 125,398 Total long-term liabilities $ 703,200 |
Schedule of maturities of long-term debt | Period Ended June 30, Amount 2022 568,200 2023 553,000 2024 140,000 2025 10,000 $ 1,271,200 |
Derivative Liabilities (Tables)
Derivative Liabilities (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of fair market value of the derivative liability | Risk free interest rate 0.07% - 0.87% Stock volatility factor 145.0% - 212.0% Weighted average expected option life 0 months - 5 year Expected dividend yield None |
Deferred Tax Benefit (Tables)
Deferred Tax Benefit (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of components of income tax expense benefit | 6/30/2021 6/30/2020 Book income (loss) $ (15,718,840 ) $ 1,193,500 Non-deductible expenses 15,976,835 (1,520,850 ) Depreciation and amortization (480 ) 45 Related party accrual - (5,100 ) Gain on abandoned asset 1,100 Valuation Allowance -(258,622) 332,405 Income tax expense $ - $ - |
Schedule of net deferred tax liabilities | 6/30/2021 6/30/2020 Deferred tax assets: NOL carryover $ 1,385,455 $ 1,621,680 Research and development 351,695 104,500 Related party accrual 44,470 44,470 Deferred tax liabilities: Depreciation and amortization $ (4,885 ) $ (3,610 ) Less Valuation Allowance $ (1,776,735 ) $ (1,767,040 ) Income tax expense $ - $ - |
Organization and Line of Busi_2
Organization and Line of Business (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Accounting Policies [Abstract] | ||
Operating loss | $ 81,498,123 | $ 57,529,338 |
Purchase of common stock and warrants amount | 62,000,000 | |
Cash | $ 56,000,000 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 17, 2018 | Mar. 31, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Jan. 23, 2019 | |
Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Cash | $ 55,756,555 | ||||
Amortization expense | 7,033 | $ 7,651 | |||
Purchased fixed assets | 213,866 | ||||
Vehicle sold for cash | 46,000 | ||||
Book value of vehicle | 44,527 | ||||
Recognized gain | 1,473 | ||||
Depreciation expense | $ 14,940 | $ 768 | |||
Stock options outstanding (in Shares) | 3,806,290 | 182,853,173 | 91,101,103 | ||
Warrants outstanding (in Shares) | 94,895,239 | ||||
Convertible debt | $ 1,271,200 | $ 2,030,000 | |||
Outstanding stock options (in Shares) | 127,944,458 | ||||
Purchase shares of common stock (in Shares) | 170,000,000 | ||||
Redeemed stock options (in Shares) | 13,146,826 | ||||
Stock options issued (in Shares) | 182,853,174 | ||||
Stock options reserve (in Shares) | 117,146,826 | ||||
Research and development | $ 1,997,186 | $ 615,721 | |||
Equity Incentive Plan [Member] | |||||
Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Issuance pursuant to the Plan (in Shares) | 300,000,000 | ||||
Stock Options [Member] | |||||
Summary of Significant Accounting Policies (Details) [Line Items] | |||||
Percentage of exercise option | 100.00% |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of intangible assets finite amortized over useful lives - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Domain [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 15 years | |
Intangible assets - gross | $ 5,315 | $ 5,315 |
Less accumulated amortization | (4,577) | (4,223) |
Intangible assets - net | $ 738 | 1,092 |
Trademark [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 10 years | |
Intangible assets - gross | $ 1,143 | 1,143 |
Less accumulated amortization | (486) | (371) |
Intangible assets - net | $ 657 | 772 |
Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Lives | 15 years | |
Intangible assets - gross | $ 101,143 | 107,491 |
Write-off of patent cost | (6,349) | |
Less accumulated amortization | (23,215) | (16,650) |
Intangible assets - net | $ 77,928 | $ 84,492 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) - Schedule of property and equipment estimated useful lives | 12 Months Ended |
Jun. 30, 2021 | |
Computers and Peripheral Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 5 years |
Vehicle [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 5 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details) - Schedule of net earnings per share calculations - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Schedule of net earnings per share calculations [Abstract] | ||
Income (Loss) attributable to common shareholders (Numerator) (in Dollars) | $ (97,426,437) | $ (57,529,338) |
Basic weighted average number of common shares outstanding (Denominator) | 2,756,925,374 | 1,551,749,054 |
Diluted weighted average number of common shares outstanding (Denominator) | 2,756,925,374 | 1,551,749,054 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Details) - Schedule of measurement of assets and liabilities at fair value on recurring basis - Fair value on a Recurring Basis [Member] - USD ($) | Jun. 30, 2021 | Jun. 30, 2020 |
Summary of Significant Accounting Policies (Details) - Schedule of measurement of assets and liabilities at fair value on recurring basis [Line Items] | ||
Total derivative liability measured at fair value | $ 135,247,303 | $ 59,657,718 |
Level 1 [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of measurement of assets and liabilities at fair value on recurring basis [Line Items] | ||
Total derivative liability measured at fair value | ||
Level 2 [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of measurement of assets and liabilities at fair value on recurring basis [Line Items] | ||
Total derivative liability measured at fair value | ||
Level 3 [Member] | ||
Summary of Significant Accounting Policies (Details) - Schedule of measurement of assets and liabilities at fair value on recurring basis [Line Items] | ||
Total derivative liability measured at fair value | $ 135,247,303 | $ 59,657,718 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies (Details) - Schedule of reconciliation of the derivative liability - Fair Value, Inputs, Level 3 [Member] - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning balance | $ 59,657,719 | $ 3,905,721 |
Fair value of derivative liabilities issued | 450,000 | 841,436 |
Gain (loss) on change in derivative liability | 75,139,584 | 54,910,562 |
Ending balance | $ 135,247,303 | $ 59,657,719 |
Capital Stocks (Details)
Capital Stocks (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Capital Stocks (Details) [Line Items] | ||
Common stock shares issued for services (in Shares) | 576,554,289 | |
Aggregate net proceeds | $ 43,323,350 | |
Common stock upon exercise of warrants, shares (in Shares) | 252,000,000 | |
Common stock value upon exercise of warrants | $ 0.075 | |
Common stock value issued for services | $ 18,900,000 | |
Common Stock [Member] | ||
Capital Stocks (Details) [Line Items] | ||
Common stock shares issued for services (in Shares) | 3,806,290 | 91,101,103 |
Common stock value issued for services | $ 118,023 | $ 357,134 |
Share issued (in Shares) | 963,537,752 | 884,989,722 |
Convertible promissory note amount | $ 1,144,350 | $ 1,166,986 |
Accrued interest | 265,770 | 198,200 |
Other fees | $ 1,800 | $ 12,000 |
Minimum [Member] | ||
Capital Stocks (Details) [Line Items] | ||
Fair value closing market price per share (in Dollars per share) | $ 0.022 | |
Minimum [Member] | Common Stock [Member] | ||
Capital Stocks (Details) [Line Items] | ||
Fair value closing market price per share (in Dollars per share) | 0.028 | $ 0.002 |
Conversion prices ranging (in Dollars per share) | 0.00095 | 0.00095 |
Maximum [Member] | ||
Capital Stocks (Details) [Line Items] | ||
Fair value closing market price per share (in Dollars per share) | 0.15 | |
Maximum [Member] | Common Stock [Member] | ||
Capital Stocks (Details) [Line Items] | ||
Fair value closing market price per share (in Dollars per share) | 0.035 | 0.0072 |
Conversion prices ranging (in Dollars per share) | $ 0.017995 | $ 0.0041 |
Options (Details)
Options (Details) - USD ($) | Dec. 03, 2020 | Oct. 02, 2017 | Dec. 29, 2020 | Jul. 22, 2019 | Jan. 31, 2019 | Jan. 23, 2019 | Jun. 30, 2021 | Jun. 30, 2020 |
Options (Details) [Line Items] | ||||||||
Stock options granted | 10,000,000 | |||||||
Stock option, description | the Company issued options to purchase 10,000,000 shares of common stock, of which one-third (1/3) vest immediately, and the remaining options vest one-twenty fourth (1/24) per month from after the date of these options (remaining block). The first block shall become exercisable immediately for a period of seven (7) years. The options fully vest by July 22, 2021 and are exercisable. | the Company issued options to purchase 6,000,000 shares of common stock, of which two-third (2/3) vest immediately, and the remaining options vest one-twelfth (1/12) per month from after the date of these options (remaining block). The first block were exercisable immediately for a period of seven (7) years. The options fully vested on January 31, 2020 and are exercisable. | ||||||
Bought back shares | 13,146,826 | |||||||
Stock option total | $ 1,250,000 | |||||||
Stock compensation expense | 259,955 | $ 473,853 | ||||||
Gross proceeds | $ 9,900,000 | |||||||
Estimated at fair value | $ 15,928,314 | |||||||
Warrants purchased for a period | 3 years | |||||||
Warrant [Member] | ||||||||
Options (Details) [Line Items] | ||||||||
Stock options granted | 346,895,239 | |||||||
Stock warrants purchased | 120,000,000 | 120,000,000 | 94,895,239 | |||||
Warrant exercise price | $ 0.075 | $ 0.075 | ||||||
Gross proceeds | $ 9,000,000 | $ 9,000,000 | ||||||
Warrants issued for dividend | 132,000,000 | |||||||
Estimated at fair value | $ 6,645,870 | |||||||
Warrant [Member] | Investor [Member] | ||||||||
Options (Details) [Line Items] | ||||||||
Stock warrants purchased | 132,000,000 | |||||||
Warrant [Member] | Minimum [Member] | ||||||||
Options (Details) [Line Items] | ||||||||
Warrant exercise price | $ 0.0938 | |||||||
Warrant [Member] | Maximum [Member] | ||||||||
Options (Details) [Line Items] | ||||||||
Warrant exercise price | $ 0.13125 | |||||||
Stock Option Plan [Member] | ||||||||
Options (Details) [Line Items] | ||||||||
Stock options granted | 10,000,000 | 170,000,000 | ||||||
Stock option, description | Of the 10,000,000 options, one-third vest immediately, and one-third vest the second and third year, such that, the options are fully vested with a maturity date of October 2, 2022, and are exercisable at an exercise price of $0.01 per share. The Company redeemed 2,631,579 of these options for $250,000. As of June 30, 2021, 7,368,421 of these options were exercisable. | One-third of the options vested immediately, and the remainder vested 1/24 per month over the first twenty-four months following the option grant. The first block was exercisable immediately for a period of seven (7) years. The options fully vest by January 23, 2022. The Company redeemed 10,515,247 of these options for $1,000,000 in cash. As of June 30, 2021, there were 159,484,753 of these options were exercisable. |
Options (Details) - Schedule of
Options (Details) - Schedule of the company's stock option activity and related information - $ / shares | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Schedule of the company's stock option activity and related information [Abstract] | ||
Number of Options outstanding, beginning of period | 196,000,000 | 186,250,000 |
Weighted average exercise price, beginning of period | $ 0.01 | $ 0.01 |
Number of Options granted | 10,000,000 | |
Weighted average exercise price, granted | $ 0.01 | $ 0.01 |
Number of Options exercised | ||
Weighted average exercise price, exercised | ||
Number of Options forfeited | (250,000) | |
Weighted average exercise price, forfeited | ||
Number of Options buyback of warrants | (13,146,826) | |
Weighted average exercise price, buyback of warrants | $ 0.0099 | |
Number of Options outstanding, end of period | 182,853,174 | 196,000,000 |
Weighted average exercise price, outstanding, end of period | $ 0.0089 | $ 0.01 |
Number of Options exercisable at the end of period | 182,853,174 | 160,493,150 |
Weighted average exercise price, exercisable at the end of period | $ 0.0089 | $ 0.01 |
Options (Details) - Schedule _2
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding - $ / shares | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding [Line Items] | ||
Stock Options Outstanding | 182,853,174,000,000 | 196,250,000 |
Stock Options Exercisable | 182,853,174,000,000 | 179,117,579 |
0.0100 [Member] | ||
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding [Line Items] | ||
Exercise Price (in Dollars per share) | $ 0.0100 | $ 0.0100 |
Stock Options Outstanding | 7,368,421,000,000 | 10,000,000 |
Stock Options Exercisable | 7,368,421,000,000 | 10,000,000 |
Weighted Average Remaining Contractual Life (years) | 1 year 3 months 3 days | 2 years 3 months 3 days |
0.0097 [Member] | ||
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding [Line Items] | ||
Exercise Price (in Dollars per share) | $ 0.0097 | $ 0.0097 |
Stock Options Outstanding | 6,000,000,000,000 | 6,000,000 |
Stock Options Exercisable | 6,000,000,000,000 | 6,000,000 |
Weighted Average Remaining Contractual Life (years) | 4 years 7 months 2 days | 5 years 7 months 2 days |
0.0099 [Member] | ||
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding [Line Items] | ||
Exercise Price (in Dollars per share) | $ 0.0099 | $ 0.0099 |
Stock Options Outstanding | 159,484,753,000,000 | 170,000,000 |
Stock Options Exercisable | 159,484,753,000,000 | 156,867,579 |
Weighted Average Remaining Contractual Life (years) | 4 years 6 months 25 days | 5 years 6 months 25 days |
0.0060 [Member] | ||
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding [Line Items] | ||
Exercise Price (in Dollars per share) | $ 0.0060 | $ 0.0060 |
Stock Options Outstanding | 10,000,000,000,000 | 10,000,000 |
Stock Options Exercisable | 10,000,000,000,000 | 10,000,000 |
Weighted Average Remaining Contractual Life (years) | 4 years 6 months 25 days | 5 years 6 months 25 days |
Options (Details) - Schedule _3
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding - Option [Member] | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding [Line Items] | ||
Risk free interest rate | 1.94% | |
Stock volatility factor | 146.00% | |
Weighted average expected option life | 6 years | 7 years |
Expected dividend yield | 0.00% | 0.00% |
Minimum [Member] | ||
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding [Line Items] | ||
Risk free interest rate | 1.47% | |
Stock volatility factor | 54.99% | |
Maximum [Member] | ||
Options (Details) - Schedule of weighted average remaining contractual life of options outstanding [Line Items] | ||
Risk free interest rate | 2.58% | |
Stock volatility factor | 189.01% |
Options (Details) - Schedule _4
Options (Details) - Schedule of company’s warrant activity and related information - Warrant [Member] | 12 Months Ended |
Jun. 30, 2021$ / sharesshares | |
Options (Details) - Schedule of company’s warrant activity and related information [Line Items] | |
Number of Warrants, outstanding, beginning of year | shares | |
Weighted average exercise price, beginning of year | $ / shares | |
Number of Warrants, granted | shares | 346,895,239 |
Weighted average exercise price, granted | $ / shares | $ 0.086 |
Number of Warrants, exercised | shares | (252,000,000) |
Weighted average exercise price, exercised | $ / shares | $ (0.075) |
Number of Warrants, forfeited/Expired | shares | |
Weighted average exercise price, forfeited/Expired | $ / shares | |
Number of Warrants, end of period | shares | 94,895,239 |
Weighted average exercise price, outstanding, end of period | $ / shares | $ 0.11 |
Number of Warrants, exercisable at the end of year | shares | 94,895,239 |
Weighted average exercise price, exercisable at the end of year | $ / shares | $ 0.11 |
Convertible Promissory Notes (D
Convertible Promissory Notes (Details) - USD ($) | Apr. 14, 2020 | Mar. 09, 2020 | Feb. 11, 2020 | Oct. 09, 2018 | Aug. 10, 2018 | Nov. 09, 2017 | Feb. 03, 2017 | Jun. 18, 2020 | May 19, 2020 | Apr. 15, 2020 | Jan. 20, 2020 | Jun. 27, 2018 | Jan. 28, 2016 | Jun. 30, 2021 | Jun. 30, 2020 | Jan. 23, 2019 |
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Outstanding convertible promissory notes, net debt discount | $ 442,602 | |||||||||||||||
Convertible debt | 1,271,200 | $ 2,030,000 | ||||||||||||||
Convertible promissory note percentage | 10.00% | |||||||||||||||
Amount received from funds | $ 78,000 | |||||||||||||||
Amount of tranches received | 450,000 | $ 856,500 | ||||||||||||||
Accrued interest | 77,820 | |||||||||||||||
Convertible promissory note principal amount | $ 703,200 | |||||||||||||||
Common stock shares Issued (in Shares) | 170,000,000 | |||||||||||||||
Stock issued during period shares conversion of convertible securities (in Shares) | 191,800 | |||||||||||||||
Additional tranches amount | $ 455,000 | |||||||||||||||
Recognized interest expense amount | $ 6,740 | |||||||||||||||
Other fees | 2,000 | |||||||||||||||
Convertible promissory notes [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Convertible debt | 1,271,200 | |||||||||||||||
Debt discount | 442,602 | |||||||||||||||
Net balance of convertible debt | $ 828,598 | |||||||||||||||
10% Convertible Promissory Note [Member] | Jan 2016 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Convertible promissory note percentage | 10.00% | |||||||||||||||
Amount received from funds | $ 500,000 | |||||||||||||||
Amount of tranches received | 10,000 | |||||||||||||||
Amount of additional tranches received | 490,000 | |||||||||||||||
Aggregate principal amount | $ 500,000 | |||||||||||||||
Debt instrument, maturity date description | January 19, 2017, the investor extended the Jan 2016 Note for an additional sixty (60) months from the effective date of the note, which matures on January 27, 2022. The Jan 2016 Note was convertible into shares of common stock of the Company at a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of the note or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. | |||||||||||||||
Percentage of beneficial ownership | 4.99% | |||||||||||||||
Penalty amount | $ 1,500 | |||||||||||||||
Issuance of common stock (in Shares) | 367,702,192 | |||||||||||||||
Convertible notes payable | $ 245,550 | |||||||||||||||
Accrued interest | 103,768 | |||||||||||||||
Convertible promissory note principal amount | 0 | |||||||||||||||
10% Convertible Promissory Note [Member] | Feb 2017 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount of tranches received | $ 60,000 | |||||||||||||||
Amount of additional tranches received | 440,000 | |||||||||||||||
Aggregate principal amount | $ 500,000 | |||||||||||||||
Debt instrument, maturity date description | The Feb 2017 Note is convertible into shares of common stock of the Company at a a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of the note or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the Feb 2017 Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event, that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. | |||||||||||||||
Convertible promissory note principal amount | $ 500,000 | $ 308,200 | ||||||||||||||
Convertible notes, interest rate | 10.00% | |||||||||||||||
10% Convertible Promissory Note [Member] | Nov 2017 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount of tranches received | 45,000 | |||||||||||||||
Amount of additional tranches received | 500,000 | |||||||||||||||
Aggregate principal amount | $ 500,000 | |||||||||||||||
Percentage of beneficial ownership | 4.99% | |||||||||||||||
Penalty amount | $ 1,500 | |||||||||||||||
Issuance of common stock (in Shares) | 187,000 | |||||||||||||||
Convertible notes payable | $ 58,321 | |||||||||||||||
Convertible promissory note principal amount | 313,000 | |||||||||||||||
Debt instrument, convertible, terms of conversion feature | The Nov 2017 Note is convertible into shares of common stock of the Company at a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. | |||||||||||||||
Debt investors separated | 258,232,440 | |||||||||||||||
10% Convertible Promissory Note [Member] | Jun 2018 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount of tranches received | $ 50,000 | |||||||||||||||
Amount of additional tranches received | $ 40,000 | $ 410,000 | ||||||||||||||
Aggregate principal amount | 500,000 | |||||||||||||||
Debt instrument, maturity date description | The Jun 2018 Note matured on June 27, 2019, which was automatically extended for sixty (60) months from the effective date of the note. | |||||||||||||||
Percentage of beneficial ownership | 4.99% | |||||||||||||||
Convertible promissory note principal amount | $ 500,000 | |||||||||||||||
Convertible notes, interest rate | 10.00% | |||||||||||||||
10% Convertible Promissory Note [Member] | June 18, 2020 [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Penalty amount | $ 1,500 | |||||||||||||||
Convertible promissory note principal amount | $ 500,000 | |||||||||||||||
Debt instrument, convertible, terms of conversion feature | The Jun 2018 Note is convertible into shares of common stock of the Company at a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of the note or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. | |||||||||||||||
10% Convertible Promissory Note [Member] | Feb 2020 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Issuance of common stock (in Shares) | 5,294,205 | |||||||||||||||
10% Unsecured Convertible Note [Member] | Aug 2018 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Debt instrument, maturity date description | The Aug 2018 Note had a maturity date of August 10, 2019, with an extension of sixty (60) months from the date of the note. The Aug 2018 Note matures on August 10, 2023. | |||||||||||||||
Issuance of common stock (in Shares) | 0.005 | |||||||||||||||
Convertible promissory note principal amount | $ 100,000 | |||||||||||||||
Convertible notes, interest rate | 10.00% | |||||||||||||||
10% Unsecured Convertible Note [Member] | Jan 2020 [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Convertible promissory note principal amount | $ 100,000 | |||||||||||||||
10% Unsecured Convertible Note [Member] | Jan 2020 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount received from funds | $ 78,000 | |||||||||||||||
Debt instrument, maturity date description | The Jan 2020 Note had a maturity date of January 20, 2021. The Jan 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. | |||||||||||||||
Issuance of common stock (in Shares) | 23,420,128 | |||||||||||||||
Convertible notes payable | $ 80,000 | |||||||||||||||
Accrued interest | 3,989 | |||||||||||||||
Convertible promissory note principal amount | $ 80,000 | |||||||||||||||
Convertible notes, interest rate | 10.00% | |||||||||||||||
Other fees | $ 2,000 | 300 | ||||||||||||||
Interest expense amount | $ 42,404 | |||||||||||||||
10% Unsecured Convertible Note [Member] | Feb 2020 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount received from funds | $ 78,000 | |||||||||||||||
Debt instrument, maturity date description | The Feb 2020 Note had a maturity date of February 11, 2021. The Feb 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. | |||||||||||||||
Issuance of common stock (in Shares) | 80,000 | |||||||||||||||
Accrued interest | $ 3,989 | |||||||||||||||
Convertible promissory note principal amount | $ 80,000 | |||||||||||||||
Other fees | $ 2,000 | 300 | ||||||||||||||
Interest expense amount | $ 49,399 | |||||||||||||||
10% Unsecured Convertible Note [Member] | March 2020 [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount received from funds | $ 38,000 | |||||||||||||||
Debt instrument, maturity date description | The Mar 2020 Note had a maturity date of March 9, 2021. The Mar 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. | |||||||||||||||
Issuance of common stock (in Shares) | 2,390,871 | |||||||||||||||
Convertible notes payable | $ 40,000 | |||||||||||||||
Accrued interest | 1,995 | |||||||||||||||
Convertible promissory note principal amount | $ 40,000 | |||||||||||||||
Other fees | $ 2,000 | 300 | ||||||||||||||
Interest expense amount | $ 25,708 | |||||||||||||||
10% Unsecured Convertible Note [Member] | April 2020 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount received from funds | $ 78,000 | |||||||||||||||
Debt instrument, maturity date description | The April 2020 Note matures on April 14, 2021. The April 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the average of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. | |||||||||||||||
Issuance of common stock (in Shares) | 5,315,949 | |||||||||||||||
Convertible notes payable | $ 80,000 | |||||||||||||||
Accrued interest | 4,011 | |||||||||||||||
Convertible promissory note principal amount | $ 80,000 | |||||||||||||||
Convertible notes, interest rate | 10.00% | |||||||||||||||
Other fees | $ 2,000 | 300 | ||||||||||||||
Interest expense amount | 63,342 | |||||||||||||||
10% Unsecured Convertible Note [Member] | April 15, 2020 [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount received from funds | $ 10,000 | |||||||||||||||
Percentage of beneficial ownership | 4.99% | |||||||||||||||
Penalty amount | $ 2,000 | |||||||||||||||
Convertible notes payable | 50,000 | |||||||||||||||
Convertible promissory note principal amount | 50,000 | |||||||||||||||
Additional tranches amount | $ 40,000 | |||||||||||||||
Debt instrument, convertible, terms of conversion feature | The Apr Note is convertible into shares of common stock of the Company at a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price of common stock recorded on any trade day after the effective date, or (c) the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. | |||||||||||||||
Interest expense amount | $ 4,050 | |||||||||||||||
Aggregate additional tranches amount | $ 50,000 | |||||||||||||||
10% Unsecured Convertible Note [Member] | May 19, 2020 [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Convertible promissory note principal amount | $ 80,000 | |||||||||||||||
10% Unsecured Convertible Note [Member] | May 2020 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Debt instrument, maturity date description | The May 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. | |||||||||||||||
Issuance of common stock (in Shares) | 5,933,503 | |||||||||||||||
Convertible notes payable | $ 80,000 | |||||||||||||||
Accrued interest | 4,033 | |||||||||||||||
Other fees | 300 | |||||||||||||||
Interest expense amount | $ 70,795 | |||||||||||||||
Maturity date | May 19, 2021 | |||||||||||||||
10% Unsecured Convertible Note [Member] | June 2020 Note [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Amount received from funds | $ 156,000 | |||||||||||||||
Debt instrument, maturity date description | The Jun 2020 Note had a maturity date of June 19, 2021.The Jun 2020 Note was convertible into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the average of the lowest two (2) trading prices of the common stock during the fifteen (15) trading day prior to the conversion date. | |||||||||||||||
Issuance of common stock (in Shares) | 11,437,764 | |||||||||||||||
Convertible notes payable | $ 160,000 | |||||||||||||||
Accrued interest | 7,847 | |||||||||||||||
Convertible promissory note principal amount | $ 160,000 | |||||||||||||||
Other fees | 4,000 | $ 300 | ||||||||||||||
Interest expense amount | $ 154,740 | |||||||||||||||
Common Stock [Member] | ||||||||||||||||
Convertible Promissory Notes (Details) [Line Items] | ||||||||||||||||
Common stock shares Issued (in Shares) | 283,810,696 |
Convertible Promissory Notes _2
Convertible Promissory Notes (Details) - Schedule of convertible promissory notes | Jun. 30, 2021USD ($) |
Debt Disclosure [Abstract] | |
Convertible Promissory Notes, net of debt discount | $ 828,598 |
Less current portion | 125,398 |
Total long-term liabilities | $ 703,200 |
Convertible Promissory Notes _3
Convertible Promissory Notes (Details) - Schedule of maturities of long-term debt | Jun. 30, 2021USD ($) |
Debt Disclosure [Abstract] | |
2022 | $ 568,200 |
2023 | 553,000 |
2024 | 140,000 |
2025 | 10,000 |
Total maturities of long-term debt | $ 1,271,200 |
Derivative Liabilities (Details
Derivative Liabilities (Details) | 12 Months Ended |
Jun. 30, 2021USD ($) | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Issuance of convertible notes | $ 450,000 |
Net loss in change in derivative | 75,139,584 |
Fair value of the derivative liability | $ 135,247,303 |
Derivative Liabilities (Detai_2
Derivative Liabilities (Details) - Schedule of fair market value of the derivative liability | 12 Months Ended |
Jun. 30, 2021 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Expected dividend yield | 0.00% |
Minimum [Member] | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Risk free interest rate | 0.07% |
Stock volatility factor | 145.00% |
Weighted average expected option life | 0 years |
Maximum [Member] | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Risk free interest rate | 0.87% |
Stock volatility factor | 212.00% |
Weighted average expected option life | 5 years |
Deferred Tax Benefit (Details)
Deferred Tax Benefit (Details) | Jun. 30, 2021USD ($) |
Income Tax Disclosure [Abstract] | |
Net operating loss carry-forward | $ 9,497,900 |
Deferred Tax Benefit (Details)
Deferred Tax Benefit (Details) - Schedule of components of income tax expense benefit - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Schedule of components of income tax expense benefit [Abstract] | ||
Book income (loss) | $ (15,718,840) | $ 1,193,500 |
Non-deductible expenses | 15,976,835 | (1,520,850) |
Depreciation and amortization | (480) | 45 |
Related party accrual | (5,100) | |
Gain on abandoned asset | 1,100 | |
Valuation Allowance | (258,622) | 332,405 |
Income tax expense |
Deferred Tax Benefit (Details_2
Deferred Tax Benefit (Details) - Schedule of net deferred tax liabilities - USD ($) | Jun. 30, 2021 | Jun. 30, 2020 |
Deferred tax assets: | ||
NOL carryover | $ 1,385,455 | $ 1,621,680 |
Research and development | 351,695 | 104,500 |
Related party accrual | 44,470 | 44,470 |
Deferred tax liabilities: | ||
Depreciation and amortization | (4,885) | (3,610) |
Less Valuation Allowance | (1,776,735) | (1,767,040) |
Income tax expense |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) | Sep. 01, 2020 | Mar. 31, 2021 |
Commitments and Contingencies Disclosure [Abstract] | ||
Deposits paid | $ 34,250 | |
Research agreement, description | the Company entered into a research agreement with the University of Iowa. As consideration under the research agreement, the University of Iowa will receive a maximum of $299,966 from the Company. The research agreement may be terminated by either party upon sixty (60) day prior written notice or a material breach or default, which is not cured within 90 days of receipt of a written notice of such breach. The term of the research agreement is from September 1, 2020 through August 31, 2021. As of June 30, 2021, the Company has accrued the amount due of $99,989. |
Related Party (Details)
Related Party (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | |
Related Party (Details) [Line Items] | |||
Salary | $ 211,750 | ||
Aggregate redeemed option to purchase | 13,146,826 | ||
Aggregate redemption price | $ 1,250,000 | ||
Common stock to related party for services | 3,806,290 | 182,853,173 | 91,101,103 |
Aggregate amount | $ 118,023 | $ 357,134 | |
Minimum [Member] | |||
Related Party (Details) [Line Items] | |||
Per share | $ 0.028 | $ 0.002 | |
Maximum [Member] | |||
Related Party (Details) [Line Items] | |||
Per share | $ 0.035 | $ 0.0072 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Event [Member] - USD ($) | Oct. 01, 2021 | Sep. 02, 2021 | Sep. 01, 2021 | Jul. 20, 2021 |
Subsequent Events (Details) [Line Items] | ||||
Shares issued for principal amount (in Shares) | 24,887,263 | |||
Conversion of principal | $ 1,450,000 | |||
Consideration under research agreement | $ 296,448 | |||
Common Stock 1 [Member] | ||||
Subsequent Events (Details) [Line Items] | ||||
Shares issued for principal amount (in Shares) | 180,480,692 | |||
Principal amount | $ 120,400 | |||
Accrued interest | $ 51,057 | |||
Common Stock 2 [Member] | ||||
Subsequent Events (Details) [Line Items] | ||||
Receivable amount | $ 350,000 |