Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Dec. 31, 2015 | May. 18, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | GOLDEN GLOBAL CORP. | |
Entity Central Index Key | 1,502,555 | |
Document Type | 10-Q | |
Trading Symbol | GLDG | |
Document Period End Date | Dec. 31, 2015 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Entity a Well-known Seasoned Issuer | No | |
Entity a Voluntary Filer | No | |
Entity's Reporting Status Current | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 2,538,158,724 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,015 |
Condensed Interim Consolidated
Condensed Interim Consolidated Balance Sheets (Unaudited) - CAD | Dec. 31, 2015 | Jun. 30, 2015 |
Current | ||
Cash and cash equivalents | CAD 5,140 | CAD 7,131 |
Prepaid and retainer (Note 6) | 10,000 | |
Sales tax and other receivable | 2,787 | |
Total current assets | CAD 5,140 | 19,918 |
Property and Equipment (Note 3) | CAD 420 | 86,033 |
Mineral properties, unproven (Note 4, 6) | 20,012 | |
Total property and equipment | CAD 420 | 106,045 |
Total Assets | 5,560 | 125,963 |
Current | ||
Accounts payable and accrued liabilities (Note 7) | 159,422 | 132,942 |
Due to related parties (Note 5) | CAD 149,810 | 215,891 |
Note payable (Note 6) | 146,734 | |
Fair value of embedded derivative (Note 7) | CAD 1,120,067 | 1,089,160 |
Shares to be issued (Note 9) | 7,129 | 6,000 |
Dividend payable | 34,241 | 30,759 |
Total Liabilities | CAD 1,470,669 | CAD 1,621,486 |
Going concern (Note 1) | ||
STOCKHOLDERS' EQUITY | ||
Capital Stock (Note 8) Authorized: 4,500,000,000 (June 30, 2015 - 4,500,000,000) with a par value of $0.0001 Outstanding but not issued 1,905,958,724 common stock (June 30, 2015 - 43,653,453) (Note 8) | CAD 190,596 | CAD 4,366 |
Additional paid in capital | 1,346,609 | 1,329,447 |
Deficit accumulated during the exploration stage | (2,947,946) | CAD (2,905,270) |
Accumulated other comprehensive loss | (130,332) | |
Stockholders' deficit before non-controlling interest | (1,541,073) | CAD (1,571,487) |
Equity attributable to non-controlling interest | 75,964 | 75,964 |
Total Stockholders' Equity | (1,465,109) | (1,495,523) |
Total Liabilities and Stockholders' Equity | CAD 5,560 | CAD 125,963 |
Condensed Interim Consolidated3
Condensed Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - CAD / shares | Dec. 31, 2015 | Jun. 30, 2015 |
Statement of Financial Position [Abstract] | ||
Capital stock, authorized | 4,500,000,000 | 4,500,000,000 |
Capital stock, par value (in canadian dollars per share) | CAD 0.0001 | CAD 0.0001 |
Capital stock, outstanding but not issued | 1,905,958,724 | 43,653,453 |
Condensed Interim Consolidated4
Condensed Interim Consolidated Statements of Operations (Unaudited) - CAD | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | ||||
Consulting fees | CAD 360,843 | CAD 70,705 | CAD 419,735 | CAD 287,305 |
Depreciation | 138 | 13,138 | 5,775 | 26,255 |
Professional fees | 10,396 | 8,082 | 22,019 | 15,926 |
Office and general | CAD 14,914 | 3,783 | CAD 38,579 | 30,680 |
Stock-based compensation | CAD 141,106 | 141,106 | ||
Travel expenses | 800 | |||
Total expenses | CAD (386,291) | CAD (236,814) | CAD (486,108) | CAD (502,072) |
Other items | ||||
Gain on settlement of note payable | 48,096 | 48,096 | ||
Financing costs | (22,381) | (20,491) | ||
Gain / (Loss) on change in embedded derivative (Note 7) | CAD 2,933,221 | CAD 348,353 | CAD 410,442 | CAD (587,147) |
Loan penalties | (14,822) | (14,822) | ||
Foreign exchange gain / (loss) | CAD 1,890 | (43,585) | CAD 8,867 | (91,010) |
Net income (loss) for the period | 2,574,535 | 53,132 | (39,194) | (1,195,051) |
Preferred shares dividend | (1,741) | (1,760) | (3,482) | (3,482) |
Attributed to common stockholders | 2,572,794 | CAD 51,372 | (42,676) | CAD (1,198,533) |
Other comprehensive loss: | ||||
Foreign currency translation adjustment | 6,143 | (130,332) | ||
Comprehensive loss for the period | CAD 2,580,678 | CAD 53,132 | CAD (169,526) | CAD (1,195,051) |
Basic and diluted income (loss) per share (in dollars per share) | CAD 0.0023 | CAD 0.0055 | CAD (0.0002) | CAD (0.1870) |
Weighted average number of shares outstanding (in shares) | 1,125,552,995 | 9,359,174 | 609,843,152 | 6,409,995 |
Condensed Interim Consolidated5
Condensed Interim Consolidated Statements of Stockholders' Equity (Unaudited) - 6 months ended Dec. 31, 2015 - CAD | Common Stock [Member] | Additional Paid-in Capital [Member] | Deficit Accumulated During the Exploration Stage [Member] | Accumulated Other Comprehensive Loss [Member] | Equity attributable to Golden Global Corp Shareholders [Member] | Equity attributable to noncontrolling interests [Member] | Total |
Balance, at beginning at Jun. 30, 2015 | CAD 4,366 | CAD 1,329,417 | CAD (2,905,270) | CAD (1,571,487) | CAD 75,964 | CAD (1,495,523) | |
Balance, at beginning (in shares) at Jun. 30, 2015 | 43,653,453 | 43,653,453 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common shares, consulting services | CAD 45,000 | 53,352 | 98,352 | CAD 98,352 | |||
Issuance of common shares, consulting services (in shares) | 450,000,000 | ||||||
Issuance of common shares, note conversion | CAD 141,230 | CAD (36,160) | 105,070 | 105,070 | |||
Issuance of common shares, note conversion (in shares) | 1,412,305,271 | ||||||
Dividend | CAD (3,482) | (3,482) | (3,482) | ||||
Net loss and comprehensive loss | (39,194) | CAD (130,332) | (169,526) | (169,526) | |||
Balance, at end at Dec. 31, 2015 | CAD 190,596 | CAD 1,346,609 | CAD (2,947,946) | CAD (130,332) | CAD (1,541,073) | CAD 75,964 | CAD (1,465,109) |
Balance, at end (in shares) at Dec. 31, 2015 | 1,905,958,724 | 1,905,958,724 |
Condensed Interim Consolidated6
Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - CAD | 6 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities | ||
Net loss for period | CAD (39,194) | CAD (1,195,051) |
Non-cash payment for consulting expenses | CAD 350,131 | 235,030 |
Stock-based compensation | 141,106 | |
Depreciation | CAD 5,775 | 26,255 |
Gain / (Loss) on change in fair value of embedded derivative | (410,442) | CAD 587,147 |
Gain on settlement of note payable | (48,096) | |
Foreign exchange adjustment | CAD 10,555 | CAD 87,265 |
Loan penalties | CAD 14,822 | |
Changes in non-cash working capital balances | ||
Sales tax and other receivable | CAD 2,787 | |
Prepaid expenses | CAD (10,000) | |
Accounts payable and accrued liabilities | CAD 53,570 | 15,116 |
Due to related parties | CAD 12,640 | 30,344 |
Note payable | 12,132 | |
Net cash used in operating activities | CAD (62,274) | (55,834) |
Financing activities | ||
Convertible promissory notes | 60,283 | 20,362 |
Net cash proved by financing activities | CAD 60,283 | 20,362 |
Investing activities | ||
Purchase of equipment | (402) | |
Net cash used in investing activities | (402) | |
Decrease in cash and cash equivalents during the period | CAD (1,991) | (35,874) |
Cash and cash equivalents, beginning of the period | 7,131 | 43,006 |
Cash and cash equivalents, end of the period | CAD 5,140 | CAD 7,132 |
Supplemental cash flow information | ||
Income taxes paid | ||
Interest paid |
Nature and Continuance of Opera
Nature and Continuance of Operations | 6 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature and Continuance of Operations | Note 1 Nature and Continuance of Operations Golden Global Corp. (the Company), incorporated in the State of Nevada, USA on December 10, 2009, and its wholly-owned subsidiary are engaged in the acquisition, exploration and development of precious metal properties. The Companys wholly owned subsidiary is Golden Global Mining Corporation which was incorporated in the Province of Alberta, Canada on January 10, 2010. The Company is an exploration stage company in the process of exploring its mineral properties in British Columbia, Canada, and has not yet determined whether these properties contain reserves that are economically recoverable. These condensed interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At December 31, 2015, the Company had not yet achieved profitable operations and has accumulated losses of $2,947,946 since its inception. The Company expects to incur further losses in the development of its business, all of which casts substantial doubt about the Companys ability to continue as a going concern. The Companys ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management anticipates that additional funding will be in the form of equity financing from the sale of common stock. Management may also seek to obtain short-term loans from the directors of the Company. There are no current arrangements in place for equity funding or short-term loans. The unaudited condensed interim consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC). The condensed interim consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Although the Company believes that the disclosures are adequate to make the information presented not misleading, certain information and footnote disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP), have been condensed or omitted pursuant to such rules and regulations. These condensed interim consolidated financial statements should be read in conjunction with the financial statements and the notes thereto included in the Companys Annual Report on Form 10-K for the year ended June 30, 2015 filed with the SEC. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 Summary of Significant Accounting Policies This summary of significant accounting policies is presented to assist in understanding the unaudited condensed interim consolidated financial statements. The financial statements and notes are the representations of the Companys management, who is responsible for their integrity and objectivity. These condensed interim consolidated financial statements have been prepared in accordance with the instructions to form 10-Q, and therefore, do not included all the information necessary for a fair presentation of financial position, results of operations and cash flows in conformity with generally accepted accounting principles. Basis of Presentation The Companys condensed interim consolidated financial statements included herein are prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. These interim consolidated financial statements include the Companys subsidiary, Golden Global Mining Corporation, and 100 percent of its assets, liabilities and net income or loss. All inter-company accounts and transactions have been eliminated. Functional Currency change As a result of recent operational development, the Company has changed its functional currency to US Dollars (US$) effective on July 1, 2015. The functional currency of the Companys subsidiary remains in Canadian dollars (C$). The Company maintains its financial statements in Canadian dollars (C$). All assets and liabilities of the Company are translated into Canadian dollars at the exchange rate prevailing at the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates during the reporting period. The resulting translation adjustments are included in accumulated other comprehensive income. Gains or losses resulting from transactions denominated in foreign currencies are included in net loss on the statement of operations as incurred. Exchange gains or losses arising from foreign currency transactions are included in the determination of other comprehensive income for the respective periods. |
Property and Equipment
Property and Equipment | 6 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Note 3 Property and Equipment As at December 31, 2015 Cost Accumulated Net Book Furniture and fixtures $ 2,345 $ 2,226 $ 119 Mining equipment (Note 6) - - - Computers 1,464 1,163 301 $ 3,809 $ 3,389 $ 420 As at June 30, 2015 Cost Accumulated Net Book Furniture and fixtures $ 2,345 $ 1,991 $ 354 Mining equipment 258,938 173,600 85,338 Computers 1,464 1,123 341 $ 262,747 $ 176,714 $ 86,033 |
Mineral Properties
Mineral Properties | 6 Months Ended |
Dec. 31, 2015 | |
Mineral Properties | |
Mineral Properties | Note 4 Mineral Properties During the period ended December 31, 2015, the Company did not make any payment in relations to mineral claims (2014 - $Nil). The mineral properties were transferred to a lender as part of a settlement of the Companys note payable (Note 6). |
Due to Related Parties
Due to Related Parties | 6 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Due to Related Parties | Note 5 Due to Related Parties During the quarter ended December 31, 2015, the Company incurred $29,970 (US$22,500) in consulting fees to related parties and issued 150,000,000 common shares for settlement of $19,830 (US$15,000) consulting fees payable to related parties. During the quarter ended September 30, 2015, the Company incurred $58,892 (US$45,000) in consulting fees to related parties and issued 300,000,000 common shares for $79,320 (US$60,000) for consulting fees payable to related parties. During the quarter ended September 30, 2014, the Company issued 1,686,364 common shares for $164,366 (US$154,000) previously accrued consulting fees. Additionally, the Company incurred $32,676 (US$30,000) in consulting fees to related parties. On December 8, 2014, the Company issued 6,150,000 common shares in lieu of payment for consulting fee of $70,553 (US$61,500) payable to related parties at US $0.01 per common share. At the time of issuance, the Companys share was traded at US $0.03. As a result, an additional $141,106 (US$123,000) has been recorded as stock-based compensation. As of December 31, 2015, there was a balance of $149,810 payable to related parties (June 30, 2015 - $215,891). Amounts due to related parties are non-interest bearing, unsecured and due on demand. |
Note payable
Note payable | 6 Months Ended |
Dec. 31, 2015 | |
Payables and Accruals [Abstract] | |
Note payable | Note 6 Note payable On April 28, 2014, the Company entered into a loan agreement for $150,000 with $100,000 to be used towards the purchase of equipment and the balance towards operations. The loan bears interest at an annual rate of 12% and matures on November 30, 2014. a) 10% of the gold recovered from the operation up to a value of $1,500 per month will be applied towards interest and the remaining towards the principal. b) The Company issued 30,000 restricted common shares on May 1, 2014 to the lender which became free trading on November 1, 2014. As the shares at the time of becoming free trading are not $0.06 or greater, the repayment process will be as followed: · Proceeds from mining operations. · If the proceeds from the mining operations are not sufficient then repayment will come from the proceeds from the issuance of free trading shares to raise capital. · Proceeds from additional financing. c) If the above repayment process cannot be followed equipment will be used to fulfill the repayment obligation. Due to the Companys inability to repay the loan, the collateral has been foreclosed by the lender on October 7, 2015. The title to the Companys placer gold claims at its McDame property were transferred to the note payable holder, including all assets, equipment, machinery, vehicles and ancillary buildings to process the claims. Accrued interest settled on the foreclosure totaled $11,212. |
Convertible Promissory Notes
Convertible Promissory Notes | 6 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Convertible Promissory Notes | Note 7 Convertible Promissory Notes On February 6, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$16,500 (C$18,259). This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full on the maturity date of November 10, 2014. The principal amount of the Note together with interest may be converted into shares of common stock, par value of $0.0001 at the option of the lender at a conversion price equal to thirty five percent at the market price, calculated as the average of the lowest three trading prices during the 10 trading days prior to the conversion. As the note was not repaid on November 10, 2014, a penalty of US$5,473 (C$6,211) has been added to the principal balance of the note. As of September 30, 2015, conversions totaling US$21,113 (C$25,707) have been recorded and 26,828,386 shares of the Companys common stock have been issued as a result of the conversion. On April 7, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$32,500 (C$35,656). This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full and interest on the maturity date of January 9, 2015. The principal amount of the note together with interest may be converted into shares of common stock, at the par value of $0.0001 at the option of the lender at a conversion price equal to forty one percent at the market price, which is the average of the lowest three trading prices during the 10 days prior to the conversion. The note has matured unpaid. As a result, a penalty of US$16,250 (C$18,445) has been added to the principal balance of the note. On April 9, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$42,000 (C$45,793). This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full on the maturity date of April 9, 2015. The principal amount of the note together with interest may be converted into shares of common stock, at the par value of $0.00001 at the option of the lender at a conversion price equal to fifty percent of the lowest closing price bid during the 18 days prior to the conversion. As the note was not repaid on April 9, 2015, a penalty of US$4,240 (C$5,334) has been added to the principal balance of the note. As of December 31, 2015, conversions totaling US$30,425 (C$39,316) have been recorded and 470,745,097 shares of the Companys common stock have been issued as a result of the conversion. On May 27, 2014, the Company entered into a securities purchase agreement to issue two unsecured convertible promissory notes with a principal amount of US$25,000 (C$27,173) each. These promissory notes bear interest at an annual rate of 8% which is to be paid with principal and interest on the maturity date of May 27, 2015. The principal amount of the note together with interest may be converted into shares of common stock, at the par value of $0.00001 at the option of the lender at a conversion price equal to fifty percent of the lowest closing price bid during the 18 days prior to the conversion. As of September 30, 2015, conversions totaling US$2,423 (C$3,114) have been recorded and 5,246,000 shares of the Companys common stock have been issued as a result of the conversion. On August 1, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$147,500 (C$161,055). This promissory note represents consulting fees paid for investor relation services up to July 31, 2014 and has been recorded as consulting expense. This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full and interest on the maturity date of August 1, 2015. The principal amount of the note together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. On August 20, 2015, a principal amount of US$25,000 was transferred to another holder (See August 20, 2015 note). Additional transfers of US$19,500 and US$105,500 were made on December 31, 2015 (See December 3, 2015 notes). As of December 31, 2015, all principle of the note has been converted or transferred and 57,134,375 shares of the Companys common stock have been issued as a result of the conversion. On November 18, 2014, the Company entered into a securities purchase agreement to issue an unsecured convertible promissory note with a principal amount of US$18,000 (C$20,362). This promissory note bears interest at an annual rate of 8% which is to be paid with principal in full on the maturity date of November 18, 2015. The principal amount of the note together with interest may be converted into shares of common stock, at the par value of $0.001 at the option of the lender. On February 20, 2015, the Company issued a convertible debenture for the gross proceed of US$25,000 (C$31,265). The debenture matures on February 20, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$37,500 with 8% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. On March 16, 2015, the Company issued a convertible debenture for the gross proceed of US$15,000 (C$19,157). The debenture matures on March 16, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$22,500 with 8% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. On May 28, 2015, the Company issued a convertible debenture for the gross proceed of US$25,000 (C$31,193). The debenture matures on May 28, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$25,000 with 5% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock equal to fifty percent of the lowest closing price during the 15 days prior to the conversion. As of December 31, 2015, conversions totaling US$18,500 (C$24,085) have been recorded and 249,461,538 shares of the Companys common stock have been issued as a result of the conversion. On August 20, 2015, the Company issued a convertible debenture of US$25,000 (C$32,700) as a result of a partial transfer of the August 1, 2014 note to a new holder. The debenture matures on August 20, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$25,000 with 8% annual interest upon maturity. The principal amount of the note together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. As of September 30, 2015, conversions totaling US$16,913 (C$22,464) have been recorded and 374,885,000 shares of the Companys common stock have been issued as a result of the conversion. On October 19, 2015, the Company issued a convertible debenture of US$250,000 (C$324,950) in lieu of payment for consulting services. The debenture matures on May 19, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$250,000 with 2% annual interest upon maturity. The principal amount of the note together with interest may be converted into shares of common stock at the eighty-seven point five percent of the lowest market price during the 40 days prior to the conversion. On November 5, 2015, the Company issued a convertible debenture for the gross proceed of US$30,000 (C$39,501). The debenture matures on June 5, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$40,000 with 5% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock equal to fifty percent of the lowest closing price during the 40 days prior to the conversion. On December 3, 2015, the Company issued a convertible debenture of US$19,500 (C$26,118) as a result of a partial transfer of the August 1, 2014 note to a new holder. The debenture matures on June 3, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$19,500 with 5% annual interest upon maturity. The principal amount of the note together with interest may be converted into shares of common stock at thirty percent of the lowest market price during the 30 days prior to the conversion. As of December 31, 2015, conversions totaling US$4,221 (C$5,741) have been recorded and 100,000,000 shares of the Companys common stock have been issued as a result of the conversion. On December 3, 2015, the Company issued a convertible debenture of US$105,000 (C$141,309) as a result of a transfer of the August 1, 2014 note to a new holder. The debenture matures on July 3, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$105,000 with 5% annual interest upon maturity. The principal amount of the note together with interest may be converted into shares of common stock at fifty percent of the lowest market price during the 40 days prior to the conversion. As of December 31, 2015, conversions totaling US$7,500 (C$10,195) have been recorded and 150,000,000 shares of the Companys common stock have been issued as a result of the conversion. On December 30, 2015, the Company issued a convertible debenture for the gross proceed of US$5,000 (C$6,942). The debenture matures on June 30, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$7,500 with 5% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock equal to fifty percent of the lowest closing price during the 40 days prior to the conversion. On December 31, 2015, the Company issued a convertible debenture for the gross proceed of US$10,000 (C$13,840). The debenture matures on July 1, 2016. The terms of the debenture requires the Company to pay the debenture investor a principal sum of US$13,000 with 5% annual interest upon maturity. The principal amount of the debenture together with interest may be converted into shares of common stock equal to fifty percent of the lowest closing price during the 30 days prior to the conversion. The above notes include certain embedded features related to the embedded conversion option being exercisable into a variable number of shares and the strike price being dominated in a currency other than the Companys functional currency. These features qualify as derivatives and are bundled as a compound embedded derivative that is measured at fair value. The fair value of the derivatives as at December 31, 2015 was $1,120,067 (June 30, 2015 - $1,089,160). As the fair value of the embedded conversion features exceeded the principle value of the promissory notes, the entire amount of the debt has been classified as an embedded derivative on the consolidated balance sheet. To calculate the fair value of the embedded derivative the following assumptions were made using the Black-Scholes pricing model: December 30, 2015 June 30, 2015 Risk-free interest rate 0.49-0.65% 0.49% Expected life 0.50-1 years 1-2 years Share price 0.0001 $0.003 Volatility 535% 519 % Forfeiture rate 0% 0% As at December 31, 2015, accrued interest recorded in accounts payable and accrued liabilities relating to the convertible promissory notes totaled $37,290 (June 30, 2015 - $31,174). As at December 31, 2015, accrued interest relating to the notes that were converted during the quarter totaled $15,878. |
Capital Stock
Capital Stock | 6 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Capital Stock | Note 8 - Capital Stock During the quarter ended September 30, 2014, the Company issued 2,506,109 common stocks as a result of the conversion of US$45,065 of unsecured promissory notes dated May 2, 2012, November 2, 2012, and October 25, 2013. During the same quarter, the Company issued 1,686,364 common shares for $164,366 (US$154,000) previously accrued consulting fee payable to related parties. Of the share issued, 1,050,000 were issued at US$0.08 per common share and 636,364 were issued at US$0.11 per common share. On December 8, 2014, the Company issued 6,150,000 common shares in lieu of payment for consulting fee of $70,553 (US$61,500) payable to related parties at US$0.01 per common share. At the time of issuance, the Companys share was traded at US$0.03. As a result, an additional $141,106 (US$123,000) has been recorded as stock-based compensation. On December 8, 2014, the Company issued 150,000 common shares in lieu of payment for investor relations and marketing services of US$5,162 (C$4,500) at US$0.03 per common share. On December 10, 2014, the Companys shareholders issue a written consent to approve, effective on December 10, 2014, the reverse split of the Companys common stock on a ratio of 1 new share for each 100 old shares. Subsequent to the reverse split, the Company had 14,873,382 common shares outstanding on December 10, 2014. During the quarter ended December 31, 2014, the Company issued 2,940,255 common stocks as a result of the conversion of US$45,065 of unsecured promissory notes dated October 25, 2013, February 6, 2014, and April 9, 2014. On April 21, 2015, the Company issued 12,500,000 common shares in lieu of payment for consulting fee of US$50,000 (C$61,405) payable to related parties at US$0.004 (C$0.005) per common share. During the quarter ended June 30, 2015, the Company issued 16,280,071 common stocks as a result of the conversion of US$20,685 (C$25,434) of unsecured promissory notes dated February 6, 2014, and April 9, 2014, August 1, 2014, and May 28, 2015. On September 30, 2015, the Company issued 300,000,000 common shares in lieu of payment for consulting fee of US$60,000 (C$78,522) payable to related parties at US$0.0002 (C$0.0002) per common share. During the quarter ended September 30, 2015, the Company issued 81,470,604 common stocks as a result of the conversion of US$15,652 (C$20,484) of unsecured promissory notes dated February 6, 2014, April 9, 2014, May 27, 2014, May 28, 2015, and August 20, 2015. On October 20, 2015, the Company issued 150,000,000 common shares in lieu of payment for consulting fee of US$15,000 (C$19,830) payable to related parties at US$0.0001 (C$0.0001) per common share. During the quarter ended December 31, 2015, the Company issued 1,330,834,667 common stocks as a result of the conversion of US$63,984 (C$84,586) of unsecured promissory notes dated April 9, 2014, August 1, 2014, May 28, 2015, August 20, 2015, and December 3, 2015. As of December 31, 2015, there are no share options or warrants outstanding. |
Shares to be Issued
Shares to be Issued | 6 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Shares to be Issued | Note 9 Shares to be Issued For consideration of ongoing investor relations and marketing service the Company has agreed to issue shares in lieu for services. The Company has agreed that this vendor will remain the owners of at least 3% of the Companys outstanding common shares as at June 5, 2015 and June 5, 2016. At December 31, 2015, the Company has recorded shares to be issued of US$5,151 (C$7,129), which represents 1,471,812 shares. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 10 Subsequent Event On April 18, 2016, the Company entered into a Rescission Agreement and Mutual Release (the Unwinding Agreement CPC Combo) Member CPC Parties Acquisition Agreement CPC Interests Acquisition · The Acquisition Agreement and the Acquisition were rescinded ab initio · The CPC Parties, jointly and severally waived (i) any ownership right in and to the shares of the Companys Series B Preferred Stock, which was to be issued to the Member pursuant to the Acquisition Agreement in exchange for the CPC Interests; and (ii) any right to receive compensation of any type and any other benefit from the Company pursuant to the Acquisition Agreement or otherwise in connection with the Acquisition; · The Company waived (i) any ownership right in and to the CPC Interests which were to be conveyed by the Member to the Company pursuant to the Acquisition Agreement or otherwise in connection with the Acquisition; and (ii) any ownership rights in the intellectual property or other assets of CPC or Combo; · The CPC Parties were relived of any obligation to repay the Company for any funds advanced by the Company to the CPC Parties to fund the operations of CPC and Combo between October 30, 2015 and April 18, 2016; and · The parties exchanged mutual releases and agreed to a mutual non-disparagement covenant. |
Summary of Significant Accoun17
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Companys condensed interim consolidated financial statements included herein are prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. These interim consolidated financial statements include the Companys subsidiary, Golden Global Mining Corporation, and 100 percent of its assets, liabilities and net income or loss. All inter-company accounts and transactions have been eliminated. |
Functional Currency | Functional Currency change As a result of recent operational development, the Company has changed its functional currency to US Dollars (US$) effective on July 1, 2015. The functional currency of the Companys subsidiary remains in Canadian dollars (C$). The Company maintains its financial statements in Canadian dollars (C$). All assets and liabilities of the Company are translated into Canadian dollars at the exchange rate prevailing at the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates during the reporting period. The resulting translation adjustments are included in accumulated other comprehensive income. Gains or losses resulting from transactions denominated in foreign currencies are included in net loss on the statement of operations as incurred. Exchange gains or losses arising from foreign currency transactions are included in the determination of other comprehensive income for the respective periods. |
Property and Equipment (Tables)
Property and Equipment (Tables) | 6 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | As at December 31, 2015 Cost Accumulated Net Book Furniture and fixtures $ 2,345 $ 2,226 $ 119 Mining equipment (Note 6) - - - Computers 1,464 1,163 301 $ 3,809 $ 3,389 $ 420 As at June 30, 2015 Cost Accumulated Net Book Furniture and fixtures $ 2,345 $ 1,991 $ 354 Mining equipment 258,938 173,600 85,338 Computers 1,464 1,123 341 $ 262,747 $ 176,714 $ 86,033 |
Convertible Promissory Notes (T
Convertible Promissory Notes (Tables) | 6 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of fair value of the embedded derivative using the Black-Scholes pricing model | To calculate the fair value of the embedded derivative the following assumptions were made using the Black-Scholes pricing model: December 30, 2015 June 30, 2015 Risk-free interest rate 0.49-0.65% 0.49% Expected life 0.50-1 years 1-2 years Share price 0.0001 $0.003 Volatility 535% 519 % Forfeiture rate 0% 0% |
Nature and Continuance of Ope20
Nature and Continuance of Operations (Details Narrative) - CAD | Dec. 31, 2015 | Jun. 30, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated losses | CAD (2,947,946) | CAD (2,905,270) |
Property and Equipment (Details
Property and Equipment (Details) - CAD | Dec. 31, 2015 | Jun. 30, 2015 |
Cost | CAD 3,809 | CAD 262,747 |
Accumulated Depreciation | 3,389 | 176,714 |
Net Book Value | 420 | 86,033 |
Furniture and Fixtures [Member] | ||
Cost | 2,345 | 2,345 |
Accumulated Depreciation | 2,226 | 1,991 |
Net Book Value | CAD 119 | 354 |
Mining Equipment [Member] | ||
Cost | 258,938 | |
Accumulated Depreciation | 173,600 | |
Net Book Value | 85,338 | |
Computers [Member] | ||
Cost | CAD 1,464 | 1,464 |
Accumulated Depreciation | 1,163 | 1,123 |
Net Book Value | CAD 301 | CAD 341 |
Mineral Properties (Details Nar
Mineral Properties (Details Narrative) - CAD | 6 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Mineral Properties | ||
Mineral claims | CAD 0 | CAD 0 |
Due to Related Parties (Details
Due to Related Parties (Details Narrative) | Oct. 20, 2015USD ($)$ / sharesshares | Oct. 20, 2015CADshares | Apr. 21, 2015USD ($)$ / sharesshares | Apr. 21, 2015CADshares | Dec. 08, 2014CADCAD / sharesshares | Dec. 31, 2015CADshares | Sep. 30, 2015USD ($)$ / sharesshares | Sep. 30, 2015CADshares | Dec. 31, 2014CAD | Sep. 30, 2014USD ($)$ / sharesshares | Sep. 30, 2014CADshares | Dec. 31, 2015USD ($) | Dec. 31, 2015CAD | Dec. 31, 2014CAD | Oct. 20, 2015CAD / shares | Sep. 30, 2015CAD / shares | Jun. 30, 2015CAD | Apr. 21, 2015CAD / shares |
Due to related parties | CAD 149,810 | CAD 149,810 | CAD 215,891 | |||||||||||||||
Number of shares issued | shares | 150,000,000 | 150,000,000 | 12,500,000 | 12,500,000 | 6,150,000 | 150,000,000 | 300,000,000 | 300,000,000 | 1,686,364 | 1,686,364 | ||||||||
Number of shares issued, value | CAD 19,830 | CAD 61,405 | CAD 70,553 | CAD 19,830 | CAD 79,320 | CAD 164,366 | ||||||||||||
Consulting fees to related parties | CAD 360,843 | CAD 58,892 | CAD 70,705 | CAD 32,676 | CAD 419,735 | CAD 287,305 | ||||||||||||
Number of partial shares issued | shares | 1,050,000 | 1,050,000 | ||||||||||||||||
Share price (in dollars per share) | CAD / shares | CAD 0.0001 | CAD 0.0002 | CAD 0.005 | |||||||||||||||
Share-based compensation | 141,106 | |||||||||||||||||
USD | ||||||||||||||||||
Number of shares issued, value | $ 15,000 | $ 50,000 | CAD 61,500 | $ 60,000 | $ 154,000 | $ 15,000 | ||||||||||||
Consulting fees to related parties | $ | $ 45,000 | $ 30,000 | $ 22,500 | |||||||||||||||
Share price (in dollars per share) | (per share) | $ 0.0001 | $ 0.004 | CAD 0.01 | $ 0.0002 | $ 0.08 | |||||||||||||
Share price at the time of issuance (in dollars per share) | CAD / shares | CAD 0.03 | |||||||||||||||||
Share-based compensation | CAD 123,000 |
Note payable (Details Narrative
Note payable (Details Narrative) - CAD | Oct. 20, 2015 | Apr. 21, 2015 | Dec. 08, 2014 | May. 01, 2014 | Apr. 28, 2014 | Dec. 31, 2015 | Sep. 30, 2015 | Sep. 30, 2014 |
Number of shares issued | 150,000,000 | 12,500,000 | 6,150,000 | 150,000,000 | 300,000,000 | 1,686,364 | ||
Share price (in canadian dollars per share) | CAD 0.0001 | CAD 0.005 | CAD 0.0002 | |||||
Interest payable | CAD 11,212 | |||||||
New Loan Agreement [Member] | 12% Notes Payable Due On November 30, 2014 [Member] | ||||||||
Principal amount | CAD 150,000 | |||||||
Purchase of equipment | 100,000 | |||||||
Periodic interest payment | CAD 1,500 | |||||||
Frequency of periodic payment | Monthly | |||||||
Number of shares issued | 30,000 | |||||||
Share price (in canadian dollars per share) | CAD 0.06 |
Convertible Promissory Notes (D
Convertible Promissory Notes (Details) - CAD / shares | 6 Months Ended | 12 Months Ended |
Dec. 30, 2015 | Jun. 30, 2015 | |
Risk-free interest rate | 0.49% | |
Share price | CAD 0.0001 | CAD 0.003 |
Volatility | 535.00% | 519.00% |
Forfeiture rate | 0.00% | 0.00% |
Minimum [Member] | ||
Risk-free interest rate | 0.49% | |
Expected life | 6 months | 1 year |
Maximum [Member] | ||
Risk-free interest rate | 0.65% | |
Expected life | 1 year | 2 years |
Convertible Promissory Notes 26
Convertible Promissory Notes (Details Narrative) | Apr. 09, 2014USD ($)Number | Apr. 09, 2014CADNumber | Apr. 07, 2014USD ($)Number | Apr. 07, 2014CADNumber | Feb. 06, 2014USD ($)Number | Feb. 06, 2014CADNumber | Sep. 30, 2015USD ($)shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2015CADCAD / shares | Sep. 30, 2015CAD | Jun. 30, 2015CAD / shares | Apr. 09, 2014CADCAD / shares | Apr. 07, 2014CADCAD / shares | Feb. 06, 2014CADCAD / shares |
Common stock, par value (in canadian dollars per share) | CAD / shares | CAD 0.0001 | CAD 0.0001 | ||||||||||||
8% Unsecured Convertible Promissory Notes Due on November 10, 2014 [Member] | Securities Purchase Agreement [Member] | ||||||||||||||
Principal amount | CAD | CAD 18,259 | |||||||||||||
Common stock, par value (in canadian dollars per share) | CAD / shares | CAD 0.0001 | |||||||||||||
Threshold percentage of stock price trigger | 35.00% | 35.00% | ||||||||||||
Threshold trading days | Number | 10 | 10 | ||||||||||||
Penalty on debt | CAD | CAD 6,211 | |||||||||||||
Conversions totaling | CAD | CAD 25,707 | |||||||||||||
Number of shares issued as a result of the conversion | shares | 26,828,386 | |||||||||||||
8% Unsecured Convertible Promissory Notes Due on November 10, 2014 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||
Principal amount | $ | $ 16,500 | |||||||||||||
Penalty on debt | $ | $ 5,473 | |||||||||||||
Conversions totaling | $ | $ 21,113 | |||||||||||||
8% Unsecured Convertible Promissory Notes Due on January 9, 2015 [Member] | Securities Purchase Agreement [Member] | ||||||||||||||
Principal amount | CAD | CAD 35,656 | |||||||||||||
Common stock, par value (in canadian dollars per share) | CAD / shares | CAD 0.0001 | |||||||||||||
Threshold percentage of stock price trigger | 41.00% | 41.00% | ||||||||||||
Threshold trading days | Number | 10 | 10 | ||||||||||||
Penalty on debt | CAD | CAD 18,445 | |||||||||||||
8% Unsecured Convertible Promissory Notes Due on January 9, 2015 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||
Principal amount | $ | $ 32,500 | |||||||||||||
Penalty on debt | $ | $ 16,250 | |||||||||||||
8% Unsecured Convertible Promissory Notes Due on April 9, 2015 [Member] | Securities Purchase Agreement [Member] | ||||||||||||||
Principal amount | CAD | CAD 45,793 | |||||||||||||
Common stock, par value (in canadian dollars per share) | CAD / shares | CAD 0.00001 | |||||||||||||
Threshold percentage of stock price trigger | 50.00% | 50.00% | ||||||||||||
Threshold trading days | Number | 18 | 18 | ||||||||||||
Penalty on debt | CAD | CAD 5,334 | |||||||||||||
Conversions totaling | CAD | CAD 39,316 | |||||||||||||
Number of shares issued as a result of the conversion | shares | 470,745,097 | |||||||||||||
8% Unsecured Convertible Promissory Notes Due on April 9, 2015 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||
Principal amount | $ | $ 42,000 | |||||||||||||
Penalty on debt | $ | $ 4,240 | |||||||||||||
Conversions totaling | $ | $ 30,425 |
Convertible Promissory Notes 27
Convertible Promissory Notes (Details Narrative 1) | Dec. 03, 2015USD ($)Number | Aug. 20, 2015USD ($)Number | May. 28, 2015USD ($)Number | Mar. 16, 2015USD ($)Number$ / shares | Feb. 20, 2015USD ($)Number$ / shares | Aug. 01, 2014USD ($)Number$ / shares | May. 27, 2014USD ($)Number | Sep. 30, 2015USD ($)shares | Dec. 31, 2015USD ($)shares | Dec. 03, 2015USD ($)Number | Dec. 31, 2015CADCAD / shares | Dec. 03, 2015CAD | Sep. 30, 2015CAD | Aug. 20, 2015CAD | Jun. 30, 2015CAD / shares | May. 28, 2015CAD | Mar. 16, 2015CAD | Feb. 20, 2015CAD | Nov. 18, 2014USD ($) | Nov. 18, 2014CADCAD / shares | Aug. 01, 2014CAD | May. 27, 2014CADCAD / shares |
Common stock, par value (in canadian dollars per share) | CAD / shares | CAD 0.0001 | CAD 0.0001 | ||||||||||||||||||||
8% Two Unsecured Convertible Promissory Notes Due on May 27, 2015 [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||
Principal amount | CAD | CAD 27,173 | |||||||||||||||||||||
Common stock, par value (in canadian dollars per share) | CAD / shares | CAD 0.00001 | |||||||||||||||||||||
Threshold percentage of stock price trigger | 50.00% | |||||||||||||||||||||
Threshold trading days | Number | 18 | |||||||||||||||||||||
Conversions totaling | CAD | CAD 3,114 | |||||||||||||||||||||
Number of shares issued as a result of the conversion | shares | 5,246,000 | |||||||||||||||||||||
8% Two Unsecured Convertible Promissory Notes Due on May 27, 2015 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||||||||||
Principal amount | $ 25,000 | |||||||||||||||||||||
Conversions totaling | $ 2,423 | |||||||||||||||||||||
8% Unsecured Convertible Promissory Notes Due on August 1, 2015 [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||
Principal amount | CAD | CAD 161,055 | |||||||||||||||||||||
Description of conversion terms | The principal amount of the note together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. | |||||||||||||||||||||
Threshold percentage of stock price trigger | 50.00% | |||||||||||||||||||||
Threshold trading days | Number | 20 | |||||||||||||||||||||
Number of shares issued as a result of the conversion | shares | 57,134,375 | |||||||||||||||||||||
8% Unsecured Convertible Promissory Notes Due on August 1, 2015 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||||||||||
Principal amount | $ 147,500 | |||||||||||||||||||||
Common stock, par value (in canadian dollars per share) | $ / shares | $ 0.00005 | |||||||||||||||||||||
8% Convertible Debenture Due on August 20, 2016 [Member] | ||||||||||||||||||||||
Gross proceed from convertible debenture | CAD | CAD 32,700 | |||||||||||||||||||||
Description of conversion terms | The principal amount of the note together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. | |||||||||||||||||||||
Threshold percentage of stock price trigger | 50.00% | |||||||||||||||||||||
Threshold trading days | Number | 20 | |||||||||||||||||||||
Conversions totaling | CAD | CAD 22,464 | |||||||||||||||||||||
Number of shares issued as a result of the conversion | shares | 374,885,000 | |||||||||||||||||||||
8% Convertible Debenture Due on August 20, 2016 [Member] | USD | ||||||||||||||||||||||
Gross proceed from convertible debenture | $ 25,000 | |||||||||||||||||||||
Principal amount | 25,000 | |||||||||||||||||||||
Conversions totaling | $ 16,913 | |||||||||||||||||||||
8% Convertible Debenture Due on August 20, 2016 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||||||||||
Principal amount | $ 25,000 | |||||||||||||||||||||
5% Convertible Debenture Due on June 3, 2016 [Member] | ||||||||||||||||||||||
Gross proceed from convertible debenture | CAD | CAD 26,118 | |||||||||||||||||||||
Principal amount | CAD | 19,500 | |||||||||||||||||||||
Threshold percentage of stock price trigger | 30.00% | |||||||||||||||||||||
Threshold trading days | Number | 30 | |||||||||||||||||||||
Conversions totaling | CAD | CAD 5,741 | |||||||||||||||||||||
Number of shares issued as a result of the conversion | shares | 100,000,000 | |||||||||||||||||||||
5% Convertible Debenture Due on June 3, 2016 [Member] | USD | ||||||||||||||||||||||
Gross proceed from convertible debenture | $ 19,500 | $ 19,500 | ||||||||||||||||||||
Conversions totaling | $ 4,221 | |||||||||||||||||||||
5% Convertible Debenture Due on June 3, 2016 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||||||||||
Principal amount | $ 19,500 | |||||||||||||||||||||
5% Convertible Debenture Due on July 3, 2016 [Member] | ||||||||||||||||||||||
Gross proceed from convertible debenture | CAD | 141,309 | |||||||||||||||||||||
Principal amount | CAD | CAD 105,000 | |||||||||||||||||||||
Threshold percentage of stock price trigger | 50.00% | |||||||||||||||||||||
Threshold trading days | Number | 40 | |||||||||||||||||||||
Conversions totaling | CAD | 10,195 | |||||||||||||||||||||
Number of shares issued as a result of the conversion | shares | 150,000,000 | |||||||||||||||||||||
5% Convertible Debenture Due on July 3, 2016 [Member] | USD | ||||||||||||||||||||||
Gross proceed from convertible debenture | $ 105,000 | $ 105,000 | ||||||||||||||||||||
Conversions totaling | $ 7,500 | |||||||||||||||||||||
5% Convertible Debenture Due on July 3, 2016 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||||||||||
Principal amount | $ 105,500 | |||||||||||||||||||||
8% Unsecured Convertible Promissory Notes Due on November 18, 2015 [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||
Principal amount | CAD | CAD 20,362 | |||||||||||||||||||||
Common stock, par value (in canadian dollars per share) | CAD / shares | CAD 0.001 | |||||||||||||||||||||
8% Unsecured Convertible Promissory Notes Due on November 18, 2015 [Member] | Securities Purchase Agreement [Member] | USD | ||||||||||||||||||||||
Principal amount | $ 18,000 | |||||||||||||||||||||
8% Convertible Debenture Due on February 20, 2016 [Member] | ||||||||||||||||||||||
Gross proceed from convertible debenture | CAD | CAD 31,265 | |||||||||||||||||||||
Description of conversion terms | The principal amount of the debenture together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. | |||||||||||||||||||||
Threshold percentage of stock price trigger | 50.00% | |||||||||||||||||||||
Threshold trading days | Number | 20 | |||||||||||||||||||||
8% Convertible Debenture Due on February 20, 2016 [Member] | USD | ||||||||||||||||||||||
Gross proceed from convertible debenture | $ 25,000 | |||||||||||||||||||||
Principal amount | $ 37,500 | |||||||||||||||||||||
Common stock, par value (in canadian dollars per share) | $ / shares | $ 0.00005 | |||||||||||||||||||||
8% Convertible Debenture Due on March 16, 2016 [Member] | ||||||||||||||||||||||
Gross proceed from convertible debenture | CAD | CAD 19,157 | |||||||||||||||||||||
Description of conversion terms | The principal amount of the debenture together with interest may be converted into shares of common stock at the lower of (i) fifty percent of the lowest market price during the 20 days prior to the conversion or (ii) US$0.00005 per share if the stock trades below US$0.001. | |||||||||||||||||||||
Threshold percentage of stock price trigger | 50.00% | |||||||||||||||||||||
Threshold trading days | Number | 20 | |||||||||||||||||||||
8% Convertible Debenture Due on March 16, 2016 [Member] | USD | ||||||||||||||||||||||
Gross proceed from convertible debenture | $ 15,000 | |||||||||||||||||||||
Principal amount | $ 22,500 | |||||||||||||||||||||
Common stock, par value (in canadian dollars per share) | $ / shares | $ 0.00005 | |||||||||||||||||||||
5% Convertible Debenture Due on May 28, 2016 [Member] | ||||||||||||||||||||||
Gross proceed from convertible debenture | CAD | CAD 31,193 | |||||||||||||||||||||
Threshold percentage of stock price trigger | 50.00% | |||||||||||||||||||||
Threshold trading days | Number | 15 | |||||||||||||||||||||
Conversions totaling | CAD | CAD 24,085 | |||||||||||||||||||||
Number of shares issued as a result of the conversion | shares | 249,461,538 | |||||||||||||||||||||
5% Convertible Debenture Due on May 28, 2016 [Member] | USD | ||||||||||||||||||||||
Gross proceed from convertible debenture | $ 25,000 | |||||||||||||||||||||
Principal amount | $ 25,000 | |||||||||||||||||||||
Conversions totaling | $ 18,500 |
Convertible Promissory Notes 28
Convertible Promissory Notes (Details Narrative 2) | Dec. 31, 2015USD ($)Number | Dec. 30, 2015USD ($)Number | Dec. 03, 2015USD ($)Number | Nov. 05, 2015USD ($)Number | Oct. 19, 2015CADNumber | Dec. 31, 2015CAD | Dec. 31, 2015CADshares | Dec. 03, 2015USD ($)Number | Jun. 30, 2015CADCAD / shares | Dec. 31, 2015CADCAD / shares | Dec. 30, 2015CAD | Dec. 03, 2015CAD | Nov. 05, 2015CAD |
Common stock, par value (in dollars per share) | CAD / shares | CAD 0.0001 | CAD 0.0001 | |||||||||||
Fair value of the derivatives | CAD 1,089,160 | CAD 1,120,067 | |||||||||||
2% Convertible Debenture Due on May 19, 2016 [Member] | |||||||||||||
Gross proceed from convertible debenture | CAD 324,950 | ||||||||||||
Principal amount | CAD 250,000 | ||||||||||||
Threshold percentage of stock price trigger | 87.50% | ||||||||||||
Threshold trading days | Number | 40 | ||||||||||||
2% Convertible Debenture Due on May 19, 2016 [Member] | USD | |||||||||||||
Gross proceed from convertible debenture | CAD 250,000 | ||||||||||||
5% Convertible Debenture Due on June 5, 2016 [Member] | |||||||||||||
Gross proceed from convertible debenture | CAD 39,501 | ||||||||||||
Principal amount | CAD 40,000 | ||||||||||||
Threshold percentage of stock price trigger | 50.00% | ||||||||||||
Threshold trading days | Number | 40 | ||||||||||||
5% Convertible Debenture Due on June 5, 2016 [Member] | USD | |||||||||||||
Gross proceed from convertible debenture | $ | $ 30,000 | ||||||||||||
5% Convertible Debenture Due on June 3, 2016 [Member] | |||||||||||||
Gross proceed from convertible debenture | CAD 26,118 | ||||||||||||
Principal amount | 19,500 | ||||||||||||
Threshold percentage of stock price trigger | 30.00% | ||||||||||||
Threshold trading days | Number | 30 | ||||||||||||
Conversions totaling | 5,741 | ||||||||||||
Number of shares issued as a result of the conversion | shares | 100,000,000 | ||||||||||||
5% Convertible Debenture Due on June 3, 2016 [Member] | USD | |||||||||||||
Gross proceed from convertible debenture | $ | $ 19,500 | $ 19,500 | |||||||||||
Conversions totaling | $ | $ 4,221 | ||||||||||||
5% Convertible Debenture Due on July 3, 2016 [Member] | |||||||||||||
Gross proceed from convertible debenture | 141,309 | ||||||||||||
Principal amount | CAD 105,000 | ||||||||||||
Threshold percentage of stock price trigger | 50.00% | ||||||||||||
Threshold trading days | Number | 40 | ||||||||||||
Conversions totaling | 10,195 | ||||||||||||
Number of shares issued as a result of the conversion | shares | 150,000,000 | ||||||||||||
5% Convertible Debenture Due on July 3, 2016 [Member] | USD | |||||||||||||
Gross proceed from convertible debenture | $ | $ 105,000 | $ 105,000 | |||||||||||
Conversions totaling | $ | $ 7,500 | ||||||||||||
5% Convertible Debenture Due on June 30, 2016 [Member] | |||||||||||||
Gross proceed from convertible debenture | CAD 6,942 | ||||||||||||
Principal amount | CAD 7,500 | ||||||||||||
Threshold percentage of stock price trigger | 50.00% | ||||||||||||
Threshold trading days | Number | 40 | ||||||||||||
5% Convertible Debenture Due on June 30, 2016 [Member] | USD | |||||||||||||
Gross proceed from convertible debenture | $ | $ 5,000 | ||||||||||||
5% Convertible Debenture Due on July 1, 2016 [Member] | |||||||||||||
Gross proceed from convertible debenture | 13,840 | ||||||||||||
Principal amount | CAD 13,000 | ||||||||||||
Threshold percentage of stock price trigger | 50.00% | ||||||||||||
Threshold trading days | Number | 30 | ||||||||||||
5% Convertible Debenture Due on July 1, 2016 [Member] | USD | |||||||||||||
Gross proceed from convertible debenture | $ | $ 10,000 | ||||||||||||
Convertible Promissory Notes [Member] | Accounts Payable and Accrued Liabilities [Member] | |||||||||||||
Accrued interest | CAD 15,878 | CAD 37,290 | CAD 31,174 |
Capital Stock (Details Narrativ
Capital Stock (Details Narrative) | Oct. 20, 2015USD ($)$ / sharesshares | Oct. 20, 2015CADshares | Apr. 21, 2015USD ($)$ / sharesshares | Apr. 21, 2015CADshares | Dec. 10, 2014shares | Dec. 08, 2014USD ($)$ / sharesshares | Dec. 08, 2014CADshares | Dec. 31, 2015CADshares | Sep. 30, 2015USD ($)$ / sharesshares | Sep. 30, 2015CADshares | Jun. 30, 2015CADshares | Dec. 31, 2014CADshares | Sep. 30, 2014USD ($)$ / sharesshares | Sep. 30, 2014CADshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2015CADshares | Oct. 20, 2015CAD / shares | Sep. 30, 2015CAD / shares | Apr. 21, 2015CAD / shares | Dec. 08, 2014CAD / shares |
Number of shares issued for services | shares | 1,330,834,667 | 16,280,071 | 2,940,255 | |||||||||||||||||
Number of shares issued for services, value | CAD | CAD 84,586 | CAD 25,434 | CAD 98,352 | |||||||||||||||||
Number of shares issued | shares | 150,000,000 | 150,000,000 | 12,500,000 | 12,500,000 | 6,150,000 | 6,150,000 | 150,000,000 | 300,000,000 | 300,000,000 | 1,686,364 | 1,686,364 | |||||||||
Number of shares issued, value | CAD | CAD 19,830 | CAD 61,405 | CAD 70,553 | CAD 19,830 | CAD 79,320 | CAD 164,366 | ||||||||||||||
Number of partial shares issued | shares | 1,050,000 | 1,050,000 | ||||||||||||||||||
Share price (in dollars per share) | CAD / shares | CAD 0.0001 | CAD 0.0002 | CAD 0.005 | |||||||||||||||||
Number of partial shares issued | shares | 636,364 | 636,364 | ||||||||||||||||||
Share-based compensation | CAD | CAD 141,106 | |||||||||||||||||||
Stockholders' equity reverse stock split | 1 new share for each 100 old shares | |||||||||||||||||||
Common shares outstanding | shares | 14,873,382 | 1,905,958,724 | 43,653,453 | 1,905,958,724 | 1,905,958,724 | |||||||||||||||
Investor Relations and Marketing Services [Member] | ||||||||||||||||||||
Number of shares issued | shares | 150,000 | 150,000 | 1,471,812 | 1,471,812 | ||||||||||||||||
Number of shares issued, value | CAD | CAD 5,162 | CAD 7,129 | ||||||||||||||||||
USD | ||||||||||||||||||||
Number of shares issued for services, value | CAD | CAD 63,984 | CAD 20,685 | CAD 45,065 | |||||||||||||||||
Number of shares issued, value | $ 15,000 | $ 50,000 | 61,500 | $ 60,000 | $ 154,000 | $ 15,000 | ||||||||||||||
Share price (in dollars per share) | (per share) | $ 0.0001 | $ 0.004 | $ 0.0002 | $ 0.08 | CAD 0.01 | |||||||||||||||
Share price (in dollars per share) | $ / shares | $ 0.11 | |||||||||||||||||||
Share price at the time of issuance (in dollars per share) | CAD / shares | CAD 0.03 | |||||||||||||||||||
Share-based compensation | CAD | CAD 123,000 | |||||||||||||||||||
USD | Investor Relations and Marketing Services [Member] | ||||||||||||||||||||
Number of shares issued, value | $ | $ 4,500 | $ 5,151 | ||||||||||||||||||
Share price (in dollars per share) | $ / shares | $ 0.03 | |||||||||||||||||||
Unsecured Promissory Notes [Member] | ||||||||||||||||||||
Number of shares issued for services | shares | 2,506,109 | 2,506,109 | ||||||||||||||||||
Number of shares issued for services, value | CAD | CAD 45,065 | |||||||||||||||||||
Unsecured Promissory Notes [Member] | ||||||||||||||||||||
Number of shares issued for services | shares | 81,470,604 | 81,470,604 | ||||||||||||||||||
Number of shares issued for services, value | CAD | CAD 20,484 | |||||||||||||||||||
Unsecured Promissory Notes [Member] | USD | ||||||||||||||||||||
Number of shares issued for services, value | $ | $ 15,652 |
Shares to be Issued (Details Na
Shares to be Issued (Details Narrative) | Oct. 20, 2015USD ($)shares | Oct. 20, 2015CADshares | Apr. 21, 2015USD ($)shares | Apr. 21, 2015CADshares | Dec. 08, 2014USD ($)shares | Dec. 08, 2014CADshares | Dec. 31, 2015CADshares | Sep. 30, 2015USD ($)shares | Sep. 30, 2015CADshares | Sep. 30, 2014USD ($)shares | Sep. 30, 2014CADshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2015CADshares | Jun. 05, 2016 | Jun. 05, 2015 |
Number of shares issued, value | CAD | CAD 19,830 | CAD 61,405 | CAD 70,553 | CAD 19,830 | CAD 79,320 | CAD 164,366 | |||||||||
Number of shares issued | shares | 150,000,000 | 150,000,000 | 12,500,000 | 12,500,000 | 6,150,000 | 6,150,000 | 150,000,000 | 300,000,000 | 300,000,000 | 1,686,364 | 1,686,364 | ||||
USD | |||||||||||||||
Number of shares issued, value | $ 15,000 | $ 50,000 | CAD 61,500 | $ 60,000 | $ 154,000 | $ 15,000 | |||||||||
Investor Relations and Marketing Services [Member] | |||||||||||||||
Ownership percentage | 3.00% | ||||||||||||||
Number of shares issued, value | CAD | CAD 5,162 | CAD 7,129 | |||||||||||||
Number of shares issued | shares | 150,000 | 150,000 | 1,471,812 | 1,471,812 | |||||||||||
Investor Relations and Marketing Services [Member] | USD | |||||||||||||||
Number of shares issued, value | $ | $ 4,500 | $ 5,151 | |||||||||||||
Investor Relations and Marketing Services [Member] | Subsequent Event [Member] | |||||||||||||||
Ownership percentage | 3.00% |