Document and Entity Information
Document and Entity Information | 12 Months Ended |
Jun. 30, 2020 | |
Cover [Abstract] | |
Entity Registrant Name | Propanc Biopharma, Inc. |
Entity Central Index Key | 0001517681 |
Document Type | S-1/A |
Amendment Flag | true |
Amendment Description | Amendment No. 4 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business Flag | true |
Entity Emerging Growth Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 |
CURRENT ASSETS: | ||
Cash | $ 67,007 | $ 2,394 |
GST tax receivable | 2,015 | 5,439 |
Prepaid expenses and other current assets | 83,299 | |
TOTAL CURRENT ASSETS | 69,022 | 91,132 |
Security deposit - related party | 2,067 | 2,103 |
Operating lease right-of-use assets, net - related party | 21,682 | |
Property and equipment, net | 5,747 | 8,417 |
TOTAL ASSETS | 98,518 | 101,652 |
CURRENT LIABILITIES: | ||
Accounts payable | 842,156 | 917,337 |
Accrued expenses and other payables | 702,231 | 723,042 |
Convertible notes and related accrued interest and premiums, net of discounts | 1,557,734 | 1,657,377 |
Operating lease liability - related party | 25,072 | |
Embedded conversion option liabilities | 177,009 | 698,264 |
Due to former director - related parties | 30,639 | 31,164 |
Loans from directors and officer - related parties | 50,993 | 51,867 |
Employee benefit liability | 354,109 | 323,837 |
TOTAL CURRENT LIABILITIES | 3,739,943 | 4,402,888 |
TOTAL LIABILITIES | 3,739,943 | 4,402,888 |
Commitments and Contingencies (See Note 9) | ||
STOCKHOLDERS' DEFICIT: | ||
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 258,120,381 and 968,042 shares issued; 258,120,332 and 967,993 outstanding as of June 30, 2020 and 2019, respectively | 258,120 | 968 |
Additional paid-in capital | 50,656,031 | 45,713,322 |
Accumulated other comprehensive income | 1,267,671 | 1,066,998 |
Accumulated deficit | (55,781,770) | (51,041,047) |
Treasury stock (49 shares) | (46,477) | (46,477) |
TOTAL STOCKHOLDERS' DEFICIT | (3,641,425) | (4,301,236) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | 98,518 | 101,652 |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT: | ||
Preferred stock, 1,500,005 shares authorized, $0.01 par value: | 5,000 | 5,000 |
TOTAL STOCKHOLDERS' DEFICIT | 5,000 | 5,000 |
Series B Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT: | ||
Preferred stock, 1,500,005 shares authorized, $0.01 par value: | ||
TOTAL STOCKHOLDERS' DEFICIT |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2020 | Jun. 30, 2019 |
Preferred stock, shares authorized | 1,500,005 | 1,500,005 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 258,120,381 | 968,042 |
Common stock, shares outstanding | 258,120,332 | 967,993 |
Treasury stock, shares | 49 | 49 |
Series A Preferred Stock [Member] | ||
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares issued | 500,000 | 500,000 |
Preferred stock, shares outstanding | 500,000 | 500,000 |
Series B Preferred Stock [Member] | ||
Preferred stock, shares authorized | 5 | 5 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares issued | 1 | 1 |
Preferred stock, shares outstanding | 1 | 1 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
REVENUE | ||
Revenue | ||
OPERATING EXPENSES | ||
Administration expenses | 3,281,464 | 2,326,350 |
Occupancy expenses | 32,809 | 28,062 |
Research and development | 179,987 | 260,335 |
TOTAL OPERATING EXPENSES | 3,494,260 | 2,614,747 |
LOSS FROM OPERATIONS | (3,494,260) | (2,614,747) |
OTHER INCOME (EXPENSE) | ||
Interest expense | (1,748,381) | (1,314,539) |
Interest income | 946 | 31 |
Other income | 57,636 | |
Derivative income (expense) | 385,293 | (2,472,146) |
Gain on debt settlements, net | 14,101 | |
Gain on extinguishment of debt, net | 67,123 | 1,204,242 |
Foreign currency transaction loss | (143,808) | (690,748) |
TOTAL OTHER EXPENSE, NET | (1,381,191) | (3,259,059) |
LOSS BEFORE TAXES | (4,875,451) | (5,873,806) |
TAX BENEFIT | 134,728 | 115,437 |
NET LOSS | $ (4,740,723) | $ (5,758,369) |
BASIC AND DILUTED NET LOSS PER SHARE | $ (0.19) | $ (10.97) |
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING | 24,633,637 | 524,939 |
NET LOSS | $ (4,740,723) | $ (5,758,369) |
OTHER COMPREHENSIVE INCOME | ||
Unrealized foreign currency translation gain | 200,673 | 709,069 |
TOTAL OTHER COMPREHENSIVE INCOME | 200,673 | 709,069 |
TOTAL COMPREHENSIVE INCOME (LOSS) | $ (4,540,050) | $ (5,049,300) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficit - USD ($) | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income [Member] | Total |
Balance at Jun. 30, 2018 | $ 5,000 | $ 93 | $ 38,214,213 | $ (45,282,678) | $ (46,477) | $ 357,929 | $ (6,751,920) | |
Balance, shares at Jun. 30, 2018 | 500,000 | 1 | 92,859 | |||||
Issuance of common stock for conversion of convertible debt and accrued interest | $ 704 | 3,350,079 | 3,350,783 | |||||
Issuance of common stock for conversion of convertible debt and accrued interest, shares | 704,258 | |||||||
Reclassification of put premium upon debt conversion | 1,824,317 | 1,824,317 | ||||||
Extinguishment of derivative liability associated with convertible notes | 1,029,039 | 1,029,039 | ||||||
Issuance of common stock for exercise of warrants | 30 | 30 | ||||||
Issuance of common stock for exercise of warrants, shares | 24 | |||||||
Foreign currency translation gain/loss | 709,069 | 709,069 | ||||||
Issuance of common stock under put premium | $ 147 | 1,100,233 | 1,100,380 | |||||
Issuance of common stock under put premium, shares | 147,200 | |||||||
Issuance of common stock for offering costs | $ 8 | 298,914 | 298,922 | |||||
Issuance of common stock for offering costs, shares | 7,701 | |||||||
Issuance of common stock for services | $ 16 | 168,984 | 169,000 | |||||
Issuance of common stock for services, shares | 16,000 | |||||||
Amortization of offering costs | (313,923) | (313,923) | ||||||
Stock based compensation in connection with stock option grants and restricted stock unit grants | 41,436 | 41,436 | ||||||
Issuance of units for cash, shares | ||||||||
Net loss | (5,758,369) | (5,758,369) | ||||||
Balance at Jun. 30, 2019 | $ 5,000 | $ 968 | 45,713,322 | (51,041,047) | (46,477) | 1,066,998 | (4,301,236) | |
Balance, shares at Jun. 30, 2019 | 500,000 | 1 | 968,042 | |||||
Issuance of common stock for conversion of convertible debt and accrued interest | $ 247,619 | 1,877,555 | 2,125,174 | |||||
Issuance of common stock for conversion of convertible debt and accrued interest, shares | 247,619,247 | |||||||
Reclassification of put premium upon debt conversion | 874,924 | 874,924 | ||||||
Foreign currency translation gain/loss | 200,673 | 200,673 | ||||||
Relative fair value of warrants issued with convertible debt | 375,905 | 375,905 | ||||||
Issuance of common stock for services | $ 8,729 | 104,913 | 113,642 | |||||
Issuance of common stock for services, shares | 8,728,574 | |||||||
Stock based compensation in connection with stock option grants and restricted stock unit grants | 300,416 | 300,416 | ||||||
Stock based compensation in connection with fair value of warrants issued for services | 984,810 | 984,810 | ||||||
Issuance of units for cash | $ 804 | 424,186 | 424,990 | |||||
Issuance of units for cash, shares | 804,518 | |||||||
Net loss | (4,740,723) | (4,740,723) | ||||||
Balance at Jun. 30, 2020 | $ 5,000 | $ 258,120 | $ 50,656,031 | $ (55,781,770) | $ (46,477) | $ 1,267,671 | $ (3,641,425) | |
Balance, shares at Jun. 30, 2020 | 500,000 | 1 | 258,120,381 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (4,740,723) | $ (5,758,369) |
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: | ||
Issuance and amortization of common stock and warrants for services | 1,098,452 | 245,145 |
(Gain) loss on settlements, net | (14,101) | |
Foreign currency transaction loss (gain) | 143,808 | 690,748 |
Depreciation expense | 2,473 | 2,306 |
Amortization of debt discounts | 734,130 | 389,673 |
Derivative income (expense) | (385,293) | 2,472,146 |
Gain on extinguishment of debt | (67,123) | (1,204,242) |
Stock option and restricted stock expense | 300,416 | |
Non-cash interest expense | 15,000 | |
Put premiums on convertible debt issued | 836,724 | 706,154 |
Changes in Assets and Liabilities: | ||
GST receivable | 3,332 | 489 |
Prepaid expenses and other assets | 83,157 | (83,296) |
Accounts payable | (59,737) | (164,926) |
Deferred rent | 3,394 | |
Employee benefit liability | 35,724 | 188,326 |
Put premiums on convertible debt issued | (9,740) | 377,846 |
Accrued interest | 156,417 | 184,198 |
NET CASH USED IN OPERATING ACTIVITIES | (1,849,589) | (2,060,037) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of equipment | (2,874) | |
NET CASH USED IN INVESTING ACTIVITIES | (2,874) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from convertible promissory notes | 1,591,250 | 1,369,000 |
Repayments of convertible promissory notes | (272,000) | |
Proceeds from the sale of common stock | 450,000 | 1,100,380 |
Fees associated with offering costs | (25,010) | (15,000) |
Debt issuance costs | (126,000) | (63,850) |
Proceeds from the exercise of warrants | 30 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 1,890,240 | 2,118,560 |
Effect of exchange rate changes on cash | 23,962 | (73,176) |
NET INCREASE (DECREASE) IN CASH | 64,613 | (17,527) |
CASH AT BEGINNING OF YEAR | 2,394 | 19,921 |
CASH AT END OF YEAR | 67,007 | 2,394 |
Supplemental Disclosure of Cash Flow Information | ||
Interest | 6,110 | 100,719 |
Income Tax | ||
Supplemental Disclosure of Non-Cash Investing and Financing Activities | ||
Reduction of put premium related to conversions of convertible notes | 874,924 | 1,824,317 |
Conversion of convertible notes and accrued interest to common stock | 1,814,336 | 3,350,783 |
Discounts related to warrants issued with convertible notes | 375,905 | |
Deferred financing costs associated with equity purchase agreement | 318,059 | |
Discounts related to derivative liability | 227,000 | 180,000 |
Operating lease right-of-use asset and operating lease liability recorded on adoption of ASC 842 | $ 48,662 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting and Reporting Policies | 12 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Nature of Operations and Summary of Significant Accounting and Reporting Policies | NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES Nature of Operations Propanc Biopharma, Inc. (the “Company,” “we,” “us” or “our”) was originally incorporated in Melbourne, Victoria Australia on October 15, 2007 as Propanc PTY LTD, and continues to be based in Camberwell, Victoria Australia. Since its inception, substantially all of the operations of the Company have been focused on the development of new cancer treatments targeting high-risk patients, particularly cancer survivors, who need a follow-up, non-toxic, long-term therapy designed to prevent the cancer from returning and spreading. The Company anticipates establishing global markets for its technologies. Our lead product candidate, which we refer to as PRP, is an enhanced pro-enzyme formulation designed to enhance the anti-cancer effects of multiple enzymes acting synergistically. It is currently in the preclinical phase of development. On November 23, 2010, the Company was incorporated in the state of Delaware as Propanc Health Group Corporation. In January 2011, to reorganize the Company, we acquired all of the outstanding shares of Propanc PTY LTD on a one-for-one basis making it a wholly-owned subsidiary of the Company. On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application to the European Medicines Agency as a small and medium-sized enterprise. As of June 30, 2020, there has been no activity within this entity. Effective April 20, 2017, the Company changed its name to “Propanc Biopharma, Inc.” to better reflect the Company’s stage of operations and development. The Company has filed multiple patent applications relating to its lead product, PRP. The first application was filed in October 2010. This patent has been granted and remains in force in the United States, Belgium, Czech Republic, Denmark, France, Germany, Ireland, Italy, Netherlands, Portugal, Spain, Sweden, Switzerland, Liechtenstein, Turkey, United Kingdom, Australia, China, Hong Kong, Japan, Indonesia, Israel, New Zealand, Singapore, Malaysia, South Africa, Mexico, Republic of Korea and India. In Brazil and Canada, the patent application remains under examination. In 2016 and 2017 we filed other patent applications. Three applications were filed under the Patent Cooperation Treaty (the “PCT”). The PCT assists applicants in seeking patent protection by filing one international patent application under the PCT, which allows the applicants to seek protection for an invention in over 150 countries. Once national or regional applications are filed, the application is placed under the control of the national or regional patent offices, as applicable, in what is called the national or regional phase. One PCT application, filed in November 2016, entered the national phase in July 2018. A second application filed in January 2017 entered the national phase commencing July 2018. A third application entered the national phase in October 2018. The Company hopes to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer by filing additional patent applications as it advances its lead product candidate, PRP, through various stages of development. Changes in Authorized Common Stock and Reverse Split On June 24, 2019, the Company effected a one-for-five hundred (1:500) reverse stock split whereby the Company (i) decreased the number of authorized shares of common stock, $0.001 par value per share, to 100,000,000 and (ii) decreased by a ratio of one-for-five hundred (1:500) the number of retroactively issued and outstanding shares of common stock. Proportional adjustments for the reverse stock split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the reverse stock split. On February 4, 2020 the Directors resolved to increase the Common Stock of the Company from 100,000,000 authorized shares to 1,000,000,000 authorized shares and believes that such number of authorized shares of Common Stock will be in the best interests of the Corporation and its stockholders because the Board believes that the availability of more shares of Common Stock for issuance will allow the Corporation greater flexibility in pursuing financing from investors, meeting business needs as they arise, taking advantage of favorable opportunities and responding to a changing corporate environment. The Company filed the necessary documents with the U.S. Securities and Exchange Commission on February 6, 2020 and at the date of this filing the increase in authorized shares to 1,000,000,000 has been effected on March 13, 2020. Principles of Consolidation The consolidated financial statements include the accounts of Propanc Biopharma, Inc., the parent entity, and its wholly-owned subsidiary, Propanc PTY LTD. All inter-company balances and transactions have been eliminated in consolidation. Propanc (UK) Limited was an inactive subsidiary from inception through June 30, 2020. Use of Estimates The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements include the estimates of useful lives for depreciation, valuation of the operating lease liability and related right-of-use asset, valuation of derivatives, valuation of beneficial conversion features on convertible debt, allowance for uncollectable receivables, valuation of equity based instruments issued for other than cash, the valuation allowance on deferred tax assets and foreign currency translation due to certain average exchange rates applied in lieu of spot rates on transaction dates. Foreign Currency Translation and Other Comprehensive Income (Loss) The Company’s wholly owned subsidiary’s functional currency is the Australian dollar (AUD). For financial reporting purposes, the Australian dollar has been translated into the Company’s reporting currency which is the United States dollar ($) and/or (USD). Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive income (loss) as other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of Australian dollars to USD after the balance sheet date. Other Comprehensive Income (Loss) for all periods presented includes only foreign currency translation gains (losses). Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. For the year ended June 30, 2020, the Company recognized an exchange loss of approximately $133,000 on intercompany loans made by the parent to the subsidiary which have not been repaid as at June 30, 2020. As of June 30, 2020 and 2019, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows: June 30, 2020 June 30, 2019 Exchange rate on balance sheet dates USD : AUD exchange rate 0.6891 0.7153 Average exchange rate for the period USD : AUD exchange rate 0.6742 0.7009 Change in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2020 and 2019 was as follows: Foreign Beginning balance, June 30, 2018 $ 357,929 Foreign currency translation gain 709,069 Balance, June 30, 2019 1,066,998 Foreign currency translation gain 200,673 Ending balance, June 30, 2020 $ 1,267,671 Fair Value of Financial Instruments and Fair Value Measurements The Company measures its financial assets and liabilities in accordance with US GAAP. For certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate fair value due to their short maturities. Amounts recorded for notes payable, net of discount, and loans payable also approximate fair value because current interest rates available for debt with similar terms and maturities are substantially the same. The Company follows accounting guidance for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs, other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. Also see Note 12 - Derivative Financial Instruments and Fair Value Measurements. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and at banks, short-term deposits with an original maturity of three months or less with financial institutions, and bank overdrafts. Bank overdrafts are reflected as a current liability on the balance sheets. There were no cash equivalents as of June 30, 2020 or June 30, 2019. Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are expensed as incurred; additions, renewals, and betterments are capitalized. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of property and equipment is provided using the declining balance method. The depreciable amount is the cost less its residual value. The estimated useful lives are as follows: Machinery and equipment - 5 years Furniture - 7 years Patents Patents are stated at cost and reclassified to intangible assets and amortized on a straight-line basis over the estimated future periods if and once the patent has been granted by a regulatory agency. However, the Company will expense any patent costs as long as we are in the startup stage. Accordingly, as the Company’s products are not currently approved for market, all patent costs incurred from 2013 through June 30, 2020 were expensed immediately. This practice of expensing patent costs immediately ends when a product receives market authorization from a government regulatory agency. Impairment of Long-Lived Assets In accordance with ASC 360-10, “ Long-lived assets,” Employee Benefit/Liability Liabilities arising in respect of wages and salaries, accumulated annual leave, accumulated long service leave and any other employee benefits expected to be settled within twelve months of the reporting date are measured based on the employees remuneration rates applicable at the reporting date. All other employee benefit liabilities are measured at the present value of the estimated future cash outflow to be made in respect of services provided by employees up to the reporting date. All employee liabilities are owed within the next twelve months. Australian Goods and Services Tax (“GST”) Revenues, expenses and balance sheet items are recognized net of the amount of GST, except payable and receivable balances which are shown inclusive of GST. The GST incurred is payable on revenues to, and recoverable on purchases from, the Australian Taxation Office. Cash flows are presented in the statements of cash flow on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows. As of June 30, 2020 and 2019, the Company was owed $2,015 and $5,439, respectively, from the Australian Taxation Office. These amounts were fully collected subsequent to the balance sheet reporting dates. Derivative Instruments ASC Topic 815, Derivatives and Hedging Convertible Notes With Variable Conversion Options The Company has entered into convertible notes, some of which contain variable conversion options, whereby the outstanding principal and accrued interest may be converted, by the holder, into common shares at a fixed discount to the price of the common stock at or around the time of conversion. The Company treats these convertible notes as stock settled debt under ASC 480, “ Distinguishing Liabilities from Equity Income Taxes The Company is governed by Australia and United States income tax laws, which are administered by the Australian Taxation Office and the United States Internal Revenue Service, respectively. The Company follows ASC 740 “ Accounting for Income Taxes The Company follows ASC 740, Sections 25 through 60, “ Accounting for Uncertainty in Income Taxes Research and Development Costs and Tax Credits In accordance with ASC 730-10, “Research and Development-Overall,” The Company may apply for research and development tax concessions with the Australian Taxation Office on an annual basis. Although the amount is possible to estimate at year end, the Australian Taxation Office may reject or materially alter the claim amount. Accordingly, the Company does not recognize the benefit of the claim amount until cash receipt since collectability is not certain until such time. The tax concession is a refundable credit. If the Company has net income, then the Company can receive the credit which reduces its income tax liability. If the Company has net losses, then the Company may still receive a cash payment for the credit, however, the Company’s net operating loss carryforwards are reduced by the gross equivalent loss that would produce the credit amount when the income tax rate is applied to that gross amount. The concession is recognized as an income tax benefit, in operations, upon receipt. During each of the fiscal years ended June 30, 2020 and 2019, the Company applied for, and received from the Australian Taxation Office, a research and development tax credit in the amount of $134,728 and $115,437, respectively, which is reflected as a tax benefit in the accompanying consolidated statements of operations and comprehensive income (loss). Stock Based Compensation The Company records stock-based compensation in accordance with ASC 718, “ Stock Compensation The Company adopted ASU 2018-07 and accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 718 and recognizes the fair value of such awards over the service period. The Company used the modified prospective method of adoption. There was no cumulative effect of adoption on July 1, 2019. Revenue Recognition The Company adopted and implemented on July 1, 2018, ASC 606 – Revenue from Contracts with Customers (“ASC 606”). ASC 606 did not have a material impact on the consolidated financial statements. Upon implementation of ASC 606, the Company recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Subject to these criteria, the Company intends to recognize revenue relating to royalties on product sales in the period in which the sale occurs and the royalty term has begun. Legal Expenses All legal costs for litigation are charged to expense as incurred. Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases On July 1, 2019, the Company adopted ASU No. 2016-02, applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases and; (ii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assessed whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments. Operating lease ROU assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company use an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the condensed consolidated statements of operations. Basic and Diluted Net Loss Per Common Share Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. As of June 30, 2019, there were 59 warrants outstanding, 59,644 stock options and 10 convertible notes payable, which notes are convertible into approximately 1,810,347 shares of the Company’s common stock. As of June 30, 2020, there were 151,170,514 warrants outstanding, 59,644 stock options and 11 convertible notes payable, which notes are convertible into approximately 439,113,281 shares of the Company’s common stock. Each holder of the notes has agreed to a 4.99% beneficial ownership conversion limitation (subject to certain noteholders’ ability to increase such limitation to 9.99% upon 60 days’ notice to the Company), and each note may not be converted during the first six-month period from the date of issuance. Such securities are considered dilutive securities which were excluded from the computation since the effect is anti-dilutive. Recent Accounting Pronouncements We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. We have carefully considered the new pronouncements that alter previous generally accepted accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of the Company’s financial management. |
Going Concern
Going Concern | 12 Months Ended |
Jun. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2 – GOING CONCERN The accompanying consolidated financial statements have been prepared in conformity with US GAAP, which contemplate continuation of the Company as a going concern. For the fiscal year ended June 30, 2020, the Company had no revenues, had a net loss of $4,740,723 and had net cash used in operations of $1,849,589. Additionally, as of June 30, 2020, the Company had a working capital deficit, stockholders’ deficit and accumulated deficit of $3,670,921, $3,641,425 and $55,781,770, respectively. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the date of this filing. The consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty. Successful completion of the Company’s development program and, ultimately, the attainment of profitable operations are dependent upon future events, including obtaining adequate financing to fulfill its development activities, acceptance of the Company’s patent applications, obtaining additional sources of suitable and adequate financing and ultimately achieving a level of sales adequate to support the Company’s cost structure and business plan. The Company’s ability to continue as a going concern is also dependent on its ability to further develop and execute on its business plan. However, there can be no assurances that any or all of these endeavors will be successful. In March 2020, the outbreak of COVID-19 (coronavirus) caused by a novel strain of the coronavirus was recognized as a pandemic by the World Health Organization, and the outbreak has become increasingly widespread in the United States, Europe and Australia, including in each of the areas in which the Company operates. The COVID-19 (coronavirus) outbreak has had a notable impact on general economic conditions, including but not limited to the temporary closures of many businesses, “shelter in place” and other governmental regulations, reduced business and consumer spending due to both job losses, reduced investing activity and M&A transactions, among many other effects attributable to the COVID-19 (coronavirus), and there continue to be many unknowns. While to date the Company has not been required to stop operating, management is evaluating its use of its office space, virtual meetings and the like. The Company continues to monitor the impact of the COVID-19 (coronavirus) outbreak closely. The extent to which the COVID-19 (coronavirus) outbreak will impact our operations, ability to obtain financing or future financial results is uncertain. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Jun. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | NOTE 3 – PROPERTY AND EQUIPMENT Property and equipment consist of the following as of June 30, 2020 2019 Office equipment at cost $ 26,299 $ 26,749 Less: Accumulated depreciation (20,552 ) (18,332 ) Total property, plant, and equipment $ 5,747 $ 8,417 Depreciation expense for the years ended June 30, 2020 and 2019 were $2,473 and $2,306, respectively |
Due to Former Director - Relate
Due to Former Director - Related Party | 12 Months Ended |
Jun. 30, 2020 | |
Related Party Transactions [Abstract] | |
Due to Former Director - Related Party | NOTE 4 – DUE TO FORMER DIRECTOR - RELATED PARTY Due to director - related party represents unsecured advances made primarily by a former director for operating expenses on behalf of the Company such as intellectual property and formation expenses. The expenses were paid for on behalf of the Company and are due upon demand. The Company is currently not being charged interest under these advances. The total amount owed the former director at June 30, 2020 and 2019 is $30,639 and $31,164, respectively. The Company plans to repay the advances as its cash resources allow. (see Note 10) |
Loans and Notes Payable
Loans and Notes Payable | 12 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Loans and Notes Payable | NOTE 5 – LOANS AND NOTES PAYABLE Loans from Directors and Officer - Related Parties Loans from the Company’s directors and officer at June 30, 2020 and 2019 were $50,993 and $51,867, respectively. The loans bear no interest and are all payable on demand. The Company did not repay any amount on these loans during the years ended June 30, 2020 and 2019, respectively. (See Note 10) |
Convertible Notes
Convertible Notes | 12 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Convertible Notes | NOTE 6 – CONVERTIBLE NOTES The Company’s convertible notes outstanding at June 30, 2020 and 2019 were as follows: June 30, 2020 June 30, 2019 Convertible notes and debenture $ 1,029,496 $ 1,076,785 Unamortized discounts (126,667 ) (131,893 ) Accrued interest 80,101 99,482 Premium, net 574,804 613,003 Convertible notes, net $ 1,557,734 $ 1,657,377 Eagle Equities Financing Agreements December 12, 2016 Securities Purchase Agreement On December 12, 2016, the Company entered into a Securities Purchase Agreement, with Eagle Equities, pursuant to which Eagle Equities purchased two 8% convertible redeemable junior subordinated promissory notes, each in the principal amount of $100,000. The first note (the “December 12 Note”) was funded with cash and the second note (the “December 12 Eagle Back-End Note”) was initially paid for by an offsetting promissory note issued by Eagle Equities to the Company (the “December 12 Note Receivable”). The terms of the December 12 Eagle Back-End Note require cash funding prior to any conversion thereunder. The December 12 Note Receivable was due on December 12, 2017, unless certain conditions were not met, in which case both the December 12 Eagle Back-End Note and the December 12 Note Receivable may both be cancelled. Both the December 12 Note and the December 12 Eagle Back-End Note had a maturity date one year from the date of issuance upon which any outstanding principal and interest is due and payable. The outstanding principal amounts plus accrued interest under both the December 12 Note and the December 12 Eagle Back-End Note were convertible into the Company’s common stock at a conversion price equal to 60% of the lowest closing bid price of the common stock for the ten trading days prior to the conversion, subject to adjustment in certain events. On April 11, 2017, the Company received payment of the December 12 Note Receivable in the amount of $100,000 that offset the December Eagle Back-End Note. Proceeds from the Note Receivable of $5,000 were paid directly to legal fees resulting in net cash proceeds of $95,000 received by the Company. As a result, the December 12 Eagle Back-End Note then became convertible. The December 12 Note and the December 12 Eagle Back-End Note were treated as stock settled debt under ASC 480 and accordingly the Company recorded a put premium of $66,667 as each of the notes were funded. As of June 30, 2018, the outstanding principal under the December 12 Note along with $8,296 of accrued interest was fully converted into shares of the Company’s common stock. As of June 30, 2019, the outstanding balance of $100,000 under the December 12 Eagle Back-End Note along with $13,144 of accrued interest was fully converted (see Note 8 – Stockholders’ Deficit) resulting in full repayment of the note and a full reduction of the put premium. There was no outstanding balance as of June 30, 2019. January 27, 2017 Securities Purchase Agreement On January 27, 2017, the Company entered into a Securities Purchase Agreement with Eagle Equities, LLC, pursuant to which Eagle Equities purchased two 8% convertible redeemable junior subordinated promissory notes, each in the principal amount of $230,000. The first note (the “January 2017 Eagle Note”) was funded with cash and the second note (the “January 2017 Eagle Back-End Note”) was initially paid for by an offsetting promissory note issued by Eagle Equities to the Company (the “January 2017 Eagle Note Receivable”). The terms of the January 2017 Eagle Back-End Note require cash funding prior to any conversion thereunder. The January 2017 Eagle Note Receivable was due September 27, 2017, unless certain conditions were not met, in which case both the January 2017 Eagle Back-End Note and the January 2017 Eagle Note Receivable may both be cancelled. Both the January 2017 Eagle Note and the January 2017 Eagle Back-End Note had a maturity date one year from the date of issuance upon which any outstanding principal and interest is due and payable. The outstanding principal amounts plus accrued interest under both the January 2017 Eagle Note and the January 2017 Eagle Back-End Note are convertible into common stock of the Company at a conversion price equal to 60% of the lowest closing bid price of the common stock for the ten trading days prior to the conversion, subject to adjustment in certain events. On May 4, 2017, the Company received a partial payment of the January 2017 Note Receivable in the amount of $40,000 and on June 3, 2017 the balance of $190,000 was funded, of which $11,250 was paid directly to legal fees. As a result, the January 2017 Eagle Back-End Note then became convertible. The January 2017 Eagle Note and the January 2017 Eagle Back-End Note were treated as stock settled debt under ASC 480 and accordingly the Company is recording a put premium of $153,333 as each of the notes were funded. As of June 30, 2018, the outstanding principal under the January 2017 Eagle Note along with $14,988 of accrued interest was fully converted. As of June 30, 2019, the outstanding balance of $230,000 under the January 2017 Eagle Back-End Note along with $33,356 of accrued interest was fully converted (see Note 8 – Stockholders’ Deficit) resulting in full repayment of the note and a full reduction of the put premium. There was no outstanding balance as of June 30, 2019. March 1, 2017 Securities Purchase Agreement On March 1, 2017, the Company entered into a Securities Purchase Agreement with Eagle Equities, pursuant to which Eagle Equities purchased two 8% convertible redeemable junior subordinated promissory notes, each in the principal amount of $220,500. The first note (the “March 2017 Eagle Note”) was funded with cash and the second note (the “March 2017 Eagle Back-End Note”) was initially paid for by an offsetting promissory note issued by Eagle Equities to the Company (the “March 2017 Eagle Note Receivable”). The terms of the March 2017 Eagle Back-End Note require cash funding prior to any conversion thereunder. Both the March 2017 Eagle Note and the March 2017 Eagle Back-End Note had a maturity date of March 1, 2018, upon which any outstanding principal and interest was due and payable. The outstanding principal amounts plus accrued interest under both the March 2017 Eagle Note and the March 2017 Eagle Back-End Note were convertible into shares of common stock, of the Company at a conversion price equal to 60% of the lowest closing bid price of the common stock for the ten trading days prior to the conversion, subject to adjustment in certain events. On July 5, 2017, the Company received payment of the March 2017 Eagle Note Receivable in the amount of $220,500 that offset the March 2017 Eagle Back-End Note. Proceeds from the March 2017 Eagle Note Receivable of $10,500 were paid directly to legal fees resulting in net cash proceeds of $210,000 received by the Company. As a result, the March 2017 Eagle Back-End Note then became convertible. The March 2017 Eagle Note and the March 2017 Eagle Back-End Note were treated as stock settled debt under ASC 480 and accordingly the Company recorded a put premium of $147,000 as each of the notes were funded. As of June 30, 2018, the outstanding principal balance under the March 2017 Eagle Note along with $20,061 of accrued interest was fully converted. As of June 30, 2019, the outstanding balance of $220,500 under the March 2017 Back-End Note along with $19,526 of accrued interest was fully converted (see Note 8 – Stockholders’ Deficit) resulting in a full reduction of the put premium. There was no outstanding balance as of June 30, 2019. August 9, 2017 Securities Purchase Agreement On August 9, 2017, the Company entered into a Securities Purchase Agreement dated as of August 8, 2017, with Eagle Equities, pursuant to which Eagle Equities purchased two 8% convertible redeemable junior subordinated promissory notes, each in the principal amount of $200,000. The first note (the “August 2017 Eagle Note”) was funded with cash and the second note (the “August 2017 Eagle Back-End Note”) was initially paid for by an offsetting promissory note issued by Eagle Equities to the Company (the “August 2017 Eagle Note Receivable”). The terms of the August 2017 Eagle Back-End Note require cash funding prior to any conversion thereunder. The August 2017 Eagle Note Receivable was due August 8, 2018, unless certain conditions were not met, in which case both the August 2017 Eagle Back-End Note and the August 2017 Eagle Note Receivable may both be cancelled. Both the August 2017 Eagle Note and the August 2017 Eagle Back-End Note had a maturity date one year from the date of issuance upon which any outstanding principal and interest is due and payable. The outstanding principal amounts plus accrued interest under both the August 2017 Eagle Note and the August 2017 Eagle Back-End Note were convertible into common stock of the Company at a conversion price equal to 60% of the lowest closing bid price of the common stock for the ten trading days prior to the conversion, subject to adjustment in certain events. On September 14, 2017, the Company received payment of the August 2017 Eagle Note Receivable in the amount of $200,000 that offset the August 2017 Eagle Back-End Note. Proceeds from the August 2017 Eagle Note Receivable of $10,000 were paid directly to legal fees resulting in net cash proceeds of $190,000 received by the Company. As a result, the August 2017 Eagle Back-End Note then became convertible. The August 2017 Eagle Note and the August 2017 Eagle Back-End Note were treated as stock settled debt under ASC 480 and accordingly the Company recorded a put premium of $133,333 as each of the notes were funded. As of June 30, 2018 $120,000 of principal under the August 2017 Eagle Note along with $5,273 in interest was converted. As of June 30, 2019, the remaining outstanding balance of $80,000 under the August 2017 Eagle Note along with $6,850 of accrued interest was fully converted (see Note 8 – Stockholders’ Deficit) resulting in full repayment of the note and a full reduction of the put premium. As of June 30, 2019, the remaining outstanding principal balance of $200,000 under the August 2017 Eagle Back-Note along with $30,568 of accrued interest was fully converted (see Note 8 – Stockholders’ Deficit) resulting in full repayment of the note and a full reduction of the put premium. There was no outstanding balance as of June 30, 2019. October 25, 2017 Securities Purchase Agreement On November 3, 2017, the Company entered into a Securities Purchase Agreement dated as of October 25, 2017, with Eagle Equities, pursuant to which Eagle Equities purchased two 8% convertible redeemable junior subordinated promissory notes, each in the principal amount of $200,000. The first note (the “October 2017 Eagle Note”) was funded with cash and the second note (the “October 2017 Eagle Back-End Note”) was initially paid for by an offsetting promissory note issued by Eagle Equities to the Company (the “October 2017 Eagle Note Receivable”). The terms of the October 2017 Eagle Back-End Note require cash funding prior to any conversion thereunder. The October 2017 Eagle Note Receivable was due June 25, 2018, unless certain conditions were not met, in which case both the October 2017 Eagle Back-End Note and the October 2017 Eagle Note Receivable may both be cancelled. Both the October 2017 Eagle Note and the October 2017 Eagle Back-End Note had a maturity date one year from the date of issuance upon which any outstanding principal and interest is due and payable. The amounts cash funded plus accrued interest under both the October 2017 Eagle Note and the October 2017 Eagle Back-End Note were convertible into common stock, par value $0.001 of the Company at a conversion price equal to 60% of the lowest closing bid price of the common stock for the ten trading days prior to the conversion, subject to adjustment in certain events. On December 6, 2017, the Company received payment of the October 2017 Eagle Note Receivable in the amount of $200,000 that offset the October 2017 Eagle Back-End Note. Proceeds from the October 2017 Eagle Note Receivable of $10,000 were paid directly to legal fees resulting in net cash proceeds of $190,000 received by the Company. As a result, the October 2017 Eagle Back-End Note then became convertible. The October 2017 Eagle Note and the October 2017 Eagle Back-End Note were treated as stock settled debt under ASC 480 and accordingly the Company recorded a put premium of $133,333 as each of the notes were funded. As of June 30, 2019, the outstanding principal balance under the October 2017 Eagle Note along with $14,653 of accrued interest was fully converted (see Note 8 – Stockholders’ Deficit) resulting in full repayment of the note and a full reduction of the put premium. There was no outstanding balance as of June 30, 2019. December 29, 2017 Securities Purchase Agreement The Company entered into an executory contract on December 29, 2017, whereby the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “December 2017 Eagle Note”) from the Company in the aggregate principal amount of $532,435, with principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities at any time. The transactions closed on January 2, 2018. The December 2017 Eagle Note contained an original issue discount of $25,354 such that the purchase price was $507,081. The maturity date of the December 2017 Eagle Note was December 29, 2018. The Company was in discussions with Eagle Equities to extend the maturity date. The December 2017 Eagle Note bore interest at a rate of 8% per annum, which interest were to be paid by the Company to Eagle Equities in shares of the Company’s common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time. The Company recorded $20,065 of accrued interest for the December 2017 Eagle Note and total principal outstanding as of June 30, 2019 under the December 2017 Eagle Note was $171,965 following conversion of $360,470 of principal and $43,535 of accrued interest during the fiscal year ended June 30, 2019. The Company recorded $0 of accrued interest for the December 2017 Eagle Note and total principal outstanding as of June 30, 2020 under the December 2017 Eagle Note was $0 following conversion of the remaining principal $171,965 and $24,751 of accrued interest during the fiscal year to June 30, 2020. Accordingly, there was no outstanding balance as of June 30, 2020. Eagle Equities had the option to convert all or any amount of the principal face amount of the December 2017 Eagle Note, at any time, for shares of the Company’s common stock at a price equal to 60% of the lowest closing bid price of the Company’s common stock as reported on the OTCQB for the ten prior trading days, including the day upon which the Company receives a notice of conversion from Eagle Equities. The note was treated as stock settled debt under ASC 480 and accordingly the Company recorded a $354,956 put premium of which $240,313 was released to additional paid in capital following conversion of $360,470 of principal during the fiscal year to June 30, 2019, and a further $114,643 was released to additional paid in capital following conversion of the remaining principal of $171,965 during the fiscal year to June 30, 2020. Upon an event of default, principal and accrued interest will become immediately due and payable under the notes. Additionally, upon an event of default, both notes will accrue interest at a default interest rate of 24% per annum or the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions. In April 2020, Eagle Equities agreed to waive the 24% default interest on this note. June 14, 2018 Securities Purchase Agreement Effective June 14, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “June 2018 Eagle Note”) from the Company in the aggregate principal amount of $105,000, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six-month anniversary of the June 2018 Eagle Note. The transactions contemplated by the Purchase Agreement closed on June 19, 2018. Pursuant to the terms of the Purchase Agreement, Eagle Equities deducted $5,000 from the principal payment due under the June 2018 Eagle Note, at the time of closing, to be applied to its legal expenses. The maturity date of the June 2018 Eagle Note was on June 14, 2019. The June 2018 Eagle Note bears interest at a rate of 8% per annum, which interest shall be paid by the Company to Eagle Equities in shares of the Company’s common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the June 2018 Eagle Note. Additionally, Eagle Equities had the option to convert all or any amount of the principal face amount of the June 2018 Eagle Note, at any time, for shares of the Company’s common stock at a price equal to 60% of the lowest closing bid price of the Company’s common stock as reported on the OTC quotation system for the ten prior trading days, including the day upon which the Company receives a notice of conversion from Eagle Equities. However, in the event that the Company’s common stock is restricted by the Depository Trust Company (“DTC”) for any reason, the Conversion Price shall be lowered to 50% of the lowest closing bid price for the duration of such restriction. If the Company fails to maintain a reserve of shares of its common stock at least four times the number of shares issuable upon conversion of the Note for at least 60 days after the issuance of the Note, the conversion discount shall be increased by 10%. Notwithstanding the foregoing, Eagle Equities shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Eagle Equities and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock. The June 2018 Eagle Note was treated as stock settled debt under ASC 480 and accordingly, the Company recorded a $70,000 put premium which was released to additional paid in capital upon conversion of the note as discussed above. Upon an event of default, principal and accrued interest will become immediately payable under the note. Interest on the outstanding principal shall accrue at a default interest rate of 24% per annum or at the highest rate permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions. No payments or conversions occurred in fiscal 2018. As of June 30, 2019, the remaining outstanding principal balance of $105,000 under the June 14, 2018 Eagle Equities Note along with $6,674 of accrued interest was fully converted (see Note 8 – Stockholders’ Deficit) resulting in full repayment of the note and a full reduction of the put premium. There was no outstanding balance as of June 30, 2019. July 13, 2018 Securities Purchase Agreement Effective July 13, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “July 2018 Note”) from the Company in the aggregate principal amount of $75,000, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six month anniversary of the July 2018 Eagle Note. The transaction closed on July 16, 2018 and on July 19, 2018 the Company received proceeds of $71,250 as $3,750 was paid directly to legal fees. The maturity date of the July 2018 Eagle Note was July 13, 2019. The July 2018 Eagle Note bears interest at a rate of 8% per annum, which interest shall be paid by the Company to Eagle Equities in shares of the Company’s common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the Note. Additionally, Eagle Equities had the option to convert all or any amount of the principal face amount of the July 2018 Eagle Note, at any time, for shares of the Company’s common stock at a price equal to 60% of the lowest closing bid price of the Company’s common stock for the ten prior trading days, including the day upon which the Company receives a notice of conversion, subject to adjustment in certain events. Eagle Equities shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Eagle Equities and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock. The July 2018 Eagle Note was treated as stock settled debt under ASC 480 and accordingly, the Company recorded a $50,000 put premium of which $50,000 was released in fiscal 2020 to additional paid in capital following the full conversion of the note. The Company recorded $5,786 of accrued interest and the total principal outstanding under the July 2018 Eagle Note was $75,000 as of June 30, 2019. The Company recorded $0 of accrued interest and the total principal outstanding under the July 2018 Eagle Note was $0 as of June 30, 2020 following conversion of $75,000 of principal and $9,300 of accrued interest during the fiscal year ended June 30, 2020. The Company had the right to prepay the July 2018 Eagle Note with certain penalties until January 9, 2019. No prepayment was made as of such date. As a result, the July 2018 Eagle Note was convertible. Upon an event of default, principal and accrued interest will become immediately due and payable under the notes. Additionally, upon an event of default, both notes will accrue interest at a default interest rate of 24% per annum or the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions. In April 2020, Eagle Equities agreed to waive the 24% default interest on this note. August 29, 2018 Securities Purchase Agreement Effective August 29, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “August 2018 Eagle Note”) from the Company in the aggregate principal amount of $105,000, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six-month anniversary of the August 2018 Eagle Note. The transactions contemplated by the agreement closed on August 30, 2018. The maturity date of the August 29, 2018 Eagle Note was August 29, 2019. The Company is currently in discussions with Eagle Equities to extend the maturity date. The August 2018 Eagle Note bears interest at a rate of 8% per annum, which interest shall be paid by the Company to Eagle Equities in shares of the Company’s common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the August 2018 Eagle Note. Additionally, Eagle Equities has the option to convert all or any amount of the principal face amount of the August 2018 Eagle Note, at any time, into shares of the Company’s common stock at a price equal to 60% of the lowest closing bid price (the “Closing Bid Price”) of the Company’s common stock as reported on the OTC Markets quotation system for the ten prior trading days, including the day upon which the Company receives a notice of conversion from Eagle Equities (the “Conversion Price”). However, in the event that the Company’s common stock is restricted by the DTC for any reason, the Conversion Price shall be lowered to 50% of the lowest Closing Bid Price for the duration of such restriction. If the Company fails to maintain a reserve of shares of its common stock at least four times the number of shares issuable upon conversion of the August 2018 Eagle Note for at least 60 days after the issuance of the August 28, 2018 Eagle Note, the conversion discount shall be increased by 10%. Notwithstanding the foregoing, Eagle Equities shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Eagle Equities and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock. The Company had the right to prepay the August 2018 Eagle Note with certain penalties until February 25, 2019. No prepayment was made as of such date. As a result, the August 2018 Eagle Note then became convertible. The August 2018 Eagle Note is treated as stock settled debt under ASC 480 and accordingly, the Company recorded a $70,000 put premium of which $17,000 was released to additional paid in capital following conversion of principal during the fiscal year to June 30, 2020. The Company recorded $7,042 of accrued interest and the total principal outstanding under the August 2018 Eagle Note was $105,000 as of June 30, 2019.The Company recorded $11,663 of accrued interest and the total principal outstanding under the August 2018 Eagle Note was $79,500 as of June 30, 2020 following conversion of $25,500 of principal and $3,788 of accrued interest during the fiscal year ended June 30, 2020. Upon an event of default, interest on the outstanding principal shall accrue at a default interest rate of 24% per annum or at the highest rate permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions. In April 2020, Eagle Equities agreed to waive the 24% default interest on this note, however, the note is currently past due. October 2, 2018 Securities Purchase Agreement Effective October 2, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “October 2018 Eagle Note”) from the Company in the aggregate principal amount of $210,000, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six-month anniversary of the October 2018 Eagle Note. The transactions contemplated by the purchase agreement closed on October 3, 2018. Pursuant to the terms of the purchase agreement, Eagle Equities deducted $10,000 from the principal payment due under the October 2018 Eagle Note, at the time of closing, to be applied to its legal expenses. The maturity date of the October 2018 Eagle Note was October 2, 2019. The October 2018 Eagle Note shall bore interest at a rate of 8% per annum, which interest shall be paid by the Company to Eagle Equities in shares of common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the October 2018 Eagle Note. Additionally, Eagle Equities had the option to convert all or any amount of the principal amount of the October 2018 Eagle Note, at any time, for shares of the Company’s common stock at a price equal to 60% of the lowest closing bid price of the Company’s common stock for the ten prior trading days, including the day upon which the Company receives a notice of conversion, subject to adjustment in certain events. Eagle Equities shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Eagle Equities and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock. No prepayment was made as of such date. As a result, the October 2018 Eagle Note then became convertible. The October 2, 2018 Eagle Note was treated as stock settled debt under ASC 480 and accordingly, the Company recorded a $140,000 put premium of which $140,000 was released to additional paid in capital following conversion of principal during the year ended June 30, 2020. The Company recorded $12,473 of accrued interest and the total principal outstanding under the October 2018 Eagle Note was $210,000 as of June 30, 2019. The Company recorded $0 of accrued interest and the total principal outstanding under the October 2018 Eagle Note was $0 as of June 30, 2020 following conversion of $210,000 of principal and $25,725 of accrued interest during the year ended June 30, 2020. The Company had the right to prepay the October 2018 Eagle Note with certain penalties until March 31, 2019. Upon an event of default, principal and accrued interest will become immediately due and payable under the notes. Additionally, upon an event of default, both notes will accrue interest at a default interest rate of 24% per annum or the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions. In April 2020, Eagle Equities agreed to waive the 24% default interest on this note. November 30, 2018 Securities Purchase Agreement Effective November 30, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “November 2018 Eagle Note”) from the Company in the aggregate principal amount of $105,000, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six-month anniversary of the November 2018 Eagle Note. The transactions contemplated by the purchase agreement closed on December 3, 2018. Pursuant to the terms of the purchase agreement, Eagle Equities deducted $5,000 from the principal payment due under the November 2018 Eagle Note, at the time of closing, to be applied to its legal expenses. The maturity date of the November 2018 Eagle Note was November 30, 2019. The November 2018 Eagle Note bore interest at a rate of 8% per annum, which interest shall be paid by the Company to Eagle Equities in shares of common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the November 2018 Eagle Note. Additionally, Eagle Equities had the option to convert all or any amount of the principal amount of the November 2018 Eagle Note, at any time, for shares of the Company’s common stock at a price equal to 61% of the lowest closing bid price (the “Closing Bid Price”) of the Company’s common stock as reported on the OTC Markets Group, Inc. quotation system for the ten prior trading days, including the day upon which the Company receives a notice of conversion from Eagle Equities (the “Conversion Price”). However, in the event that the Company’s common stock is restricted by the Depository Trust Company for any reason, the Conversion Price shall be lowered to 51% of the lowest Closing Bid Price for the duration of such restriction. If the Company fails to maintain a reserve of shares of its common stock at least two and a half times the number of shares issuable upon conversion of the November 2018 Eagle Note for at least 60 days after the issuance of the November 2018 Eagle Note, the conversion discount shall be increased by 10%. Notwithstanding the foregoing, Eagle Equities shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Eagle Equities and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock. The November 2018 Eagle Note was treated as stock settled debt under ASC 480 and accordingly, the Company recorded a $67,131 put premium of which $67,131 was released to additional paid in capital following conversion of principal during the year ended June 30, 2020. The Company recorded $4,879 of accrued interest and the total principal outstanding under the November 2018 Eagle Note was $105,000 as of June 30, 2019. The Company recorded $0 of accrued interest and the total principal outstanding under the November 2018 Eagle Note was $0 as of June 30, 2020 following conversion of $105,000 of principal and $12,832 of accrued interest during the year ended June 30, 2020. The November 2018 Eagle Note may be prepaid with certain penalties by the Company until May 29, 2019. No prepayment was made as of such date. Upon an event of default, principal and accrued interest will become immediately due and payable under the notes. Additionally, upon an event of default, both notes will accrue interest at a default interes |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 7 – INCOME TAXES Through June 30, 2010, the Company operated exclusively in Australia. The Company was wholly subject to Australian income tax laws and regulations, which are administered by the Australian Taxation Office for the years ended June 30, 2010 and all prior years. On November 23, 2010, the Company was incorporated in the state of Delaware. In January 2011, the Company acquired all of the outstanding shares of Propanc PTY LTD on a one-for-one basis with Propanc PTY LTD becoming a wholly owned subsidiary of the Company. As a result of these transactions, the Company is subject to the income tax laws of both the United States and Australia for the years ended June 30, 2013 through June 30, 2020. The reconciliation of income tax expense computed at the U.S. federal statutory rate of 21% to the income tax provision for the years ended June 30, 2020 and 2019 is as follows: Year Ended June 30, 2020 June 30, 2019 Taxes under statutory US tax rates $ (995,552 ) $ (1,209,258 ) Increase (decrease) in valuation allowance 1,137,716 1,394,444 Prior period adjustment (14,624 ) - Foreign tax rate differential (128,492 ) (186,286 ) Other 952 1,100 Income tax (expense) benefit $ - $ - On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The Company is currently evaluating the impact of the CARES Act, but due to sustained losses, the NOL carryback provision of the CARES Act would not yield a benefit to us. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities consist of the following: Year Ended June 30, 2020 June 30, 2019 Deferred tax assets Warrant Derivative Liability $ 7,403 $ 7,403 Accrued Expenses 297,086 198,193 Prepaid Investor Services 470,050 414,396 Non-cash interest 596,004 - Intangibles (Intellectual Property and Patent Cost) 240,428 212,881 Deferred Rent 1,969 - Formation Expense 7,208 7,208 Net Operating Loss carry forward 7,438,911 6,573,215 Foreign Exchange Loss (OCI) (39,379 ) (39,379 ) Revalue of derivative liability 438,239 519,151 Stock Based Compensation 51,481 51,481 Total Deferred tax assets $ 9,509,400 $ 7,944,549 Deferred tax liabilities R&D $ (177,702 ) $ (139,833 ) Gain on extinguishment of debt (266,987 ) - Capital Raising Costs (255,614 ) (133,335 ) Total deferred tax liabilities $ (700,303 ) $ (273,168 ) Net deferred tax assets $ 8,809,097 $ 7,671,381 Valuation allowance (8,809,097 ) (7,671,381 ) Net deferred taxes $ - $ - At June 30, 2020, the Company had U.S. net operating loss carry forwards of approximately $8,977,683 that may be offset against future taxable income, subject to limitation under IRC Section 382. At June 30, 2020, the Company had Australian net operating loss carry forwards of approximately $20,194,901 million which can be carried forward without expiration. No tax benefit has been reported in the June 30, 2020 and 2019 consolidated financial statements due to the uncertainty surrounding the realizability of the benefit, based on a more likely than not criteria and in consideration of available positive and negative evidence. Management has determined that the realization of the net deferred tax asset is not assured and has created a valuation allowance for the entire amount of such benefits. The Company follows ASC 740-10, which provides guidance for the recognition and measurement of certain tax positions in an enterprise’s financial statements. Recognition involves a determination whether it is more likely than not that a tax position will be sustained upon examination with the presumption that the tax position will be examined by the appropriate taxing authority having full knowledge of all relevant information. The Company applied the “more-likely-than-not” recognition threshold to all tax positions taken or expected to be taken in a tax return, which resulted in no unrecognized tax benefits as of June 30, 2020 and 2019, respectively. The Company’s policy is to record interest and penalties associated with unrecognized tax benefits as additional income taxes in the consolidated statement of operations. As of June 30, 2020, the Company had no unrecognized tax benefits. There were no changes in the Company’s unrecognized tax benefits during the years ended June 30, 2020 and 2019. The Company did not recognize any interest or penalties during fiscal 2020 or 2019 related to unrecognized tax benefits. The income tax returns filed for the tax years from inception will be subject to examination by the relevant taxing authorities. |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Jun. 30, 2020 | |
Equity [Abstract] | |
Stockholders' Deficit | NOTE 8 – STOCKHOLDERS’ DEFICIT Increase in Authorized Shares of Common Stock and Reverse Stock Split On June 24, 2019, the Company effected a one-for-five hundred (1:500) reverse stock split whereby the Company (i) decreased the number of authorized shares of common stock, $0.001 par value per share, to 100,000,000 and (ii) decreased by a ratio of one-for-five hundred (1:500) the number of retroactively issued and outstanding shares of common stock. Proportional adjustments for the reverse stock split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the reverse stock split. On February 4, 2020 the Directors resolved to increase the Common Stock of the Company from 100,000,000 authorized shares to 1,000,000,000 authorized shares and believes that such number of authorized shares of Common Stock will be in the best interests of the Corporation and its stockholders because the Board believes that the availability of more shares of Common Stock for issuance will allow the Corporation greater flexibility in pursuing financing from investors, meeting business needs as they arise, taking advantage of favorable opportunities and responding to a changing corporate environment. The Company filed the necessary documents with the U.S. Securities and Exchange Commission on February 6, 2020 and with the amendment to the authorized shares being approved by the State of Delaware on March 13, 2020. Preferred Stock The total number of shares of preferred stock that the Company is authorized to issue is 1,500,005, $0.01 par value per share. These preferred shares have no rights to dividends, profit sharing or liquidation preferences. Of the total preferred shares authorized, 500,000 have been designated as Series A Preferred Stock (“Series A Preferred Stock”), pursuant to the Certificate of Designation filed with the Secretary of State of the State of Delaware on December 9, 2014. James Nathanielsz, the Company’s Chief Executive Officer and Chief Financial Officer, beneficially owns all of the outstanding shares of Series A Preferred Stock via North Horizon Pty Ltd., which entitles him, as a holder of Series A Preferred Stock, to vote on all matters submitted or required to be submitted to a vote of the Company’s stockholders, except election and removal of directors, and each share of Series A Preferred Stock entitles him to two votes per share of Series A Preferred Stock. North Horizon Pty Ltd. is a Nathanielsz Family Trust. Mr. James Nathanielsz, the Chief Executive Officer, Chief Financial Officer and a director of our Company, has voting and investment power over these shares. 500,000 shares of Series A Preferred Stock are issued and outstanding as of June 30, 2020 and 2019. Of the total preferred shares authorized, pursuant to the Certificate of Designation filed with the Secretary of State of the State of Delaware on June 16, 2015, up to five shares have been designated as Series B Preferred Stock (“Series B Preferred Stock”). Each holder of outstanding shares of Series B Preferred Stock is entitled to voting power equivalent to the number of votes equal to the total number of shares of common stock outstanding as of the record date for the determination of stockholders entitled to vote at each meeting of stockholders of the Company and entitled to vote on all matters submitted or required to be submitted to a vote of the stockholders of the Company. One share of Series B Preferred Stock is issued and outstanding as of June 30, 2020 and 2019. Mr. Nathanielsz directly beneficially owns such one share of Series B Preferred Stock. No shares of Series A Preferred Stock or Series B Preferred Stock were issued in fiscal years 2020 or 2019. Common Stock Shares Issued for Cash October 5, 2018 Equity Purchase Agreement On October 5, 2018 (the “L2 Closing Date”), the Company entered into an Equity Purchase Agreement (the “L2 Purchase Agreement”) with L2 Capital, LLC (“L2 Capital”) pursuant to which L2 Capital committed to purchase up to $10,000,000 (the “Maximum Amount”) of the Company’s common stock (the “L2 Financing”). On the L2 Closing Date, the Company issued 7,701 shares of its common stock to L2 Capital as a commitment fee (the “Commitment Shares”), at a fair market value of $41.30 or $318,059, which was recorded as deferred offing costs and were amortized as a percentage of the Maximum Amount on a pro-rata conversion amount. Additionally, the proceeds received from the first put notice were net of $15,000 in legal fees and were recorded as deferred offering costs. Total amortization expense for the fiscal year ended June 30, 2019 was $333,059. The Commitment Shares are subject to a lock-up/leak-out limitation as described below. In connection with the L2 Financing, on the L2 Closing Date, the Company and L2 Capital also entered into a Registration Rights Agreement (the “L2 Registration Rights Agreement”, and together with the Purchase Agreement, the “L2 Transaction Documents”). The Company received net proceeds from the sale of the Put Shares directly to the Investor pursuant to the Purchase Agreement, however, the Company did not receive any proceeds from the resale of the Put Shares by L2 Capital thereafter. Upon filing and effectiveness of the Company’s Registration Statement on Form S-1, which was declared effective by the SEC on October 30, 2018, and provided other closing conditions are met, from time to time over the term of the Purchase Agreement, the Company had the right, but not the obligation, to direct the Investor to purchase shares of the Company’s common stock (the “L2 Put Shares”) in a maximum amount of $1,000,000, provided that the number of L2 Put Shares did not exceed 250% of the Average Daily Trading Volume (as defined in the L2 Purchase Agreement). At any time and from time to time during the 3-year term of the L2 Purchase Agreement (the “Commitment Period”), the Company had the right to deliver a notice L2 Capital (the “L2 Put Notice”) and was obligated to deliver the Put Shares to Investor via DWAC (as defined in the L2 Purchase Agreement) within two trading days. The purchase price (the “L2 Purchase Price”) for the Put Shares was 87.5% of the one lowest daily volume weighted average price on the Principal Market (as defined in the L2 Purchase Agreement) (as reported by Bloomberg Finance L.P.) during the five trading days immediately following the date L2 Capital receives the L2 Put Shares via DWAC associated with the applicable Put Notice (the “L2 Valuation Period”). The closing of a Put Notice occurred within one trading day following the end of the respective L2 Valuation Period, whereby (i) L2 Capital was obligated to deliver the L2 Investment Amount (as defined below) to the Company by wire transfer of immediately available funds and (ii) L2 Capital was obligated to return surplus L2 Put Shares if the value of the L2 Put Shares delivered to L2 Capital caused the Company to exceed the maximum commitment amount. The Company could not deliver another L2 Put Notice to L2 Capital within ten trading days of a prior Put Notice. The “L2 Investment Amount” means the aggregate L2 Purchase Price for the L2 Put Shares purchased by L2 Capital, minus clearing costs due to L2 Capital’s broker or to the Company’s transfer agent for the issuance of the L2 Put Shares (the “L2 Clearing Costs”). The right of the Company to issue and sell the L2 Put Shares to L2 Capital was subject to the satisfaction of certain closing conditions, including, but not limited to, (i) the Company’s Registration Statement on Form S-1 registering for resale by the Investor of the L2 Put Shares and Commitment Shares continuing to be effective as was declared by the U.S. Securities and Exchange Commission (the “SEC”) on October 30, 2018, (ii) accuracy of the Company’s representations and warranties, (iii) the Company’s performance under the L2 Purchase Agreement in all material respects, (iv) no suspension of trading or delisting of the Company’s common stock, (v) limitation of L2 Capital’s beneficial ownership to no more than 9.99%, (vi) the Company maintaining its DWAC-eligible status, (vii) the Company maintaining a sufficient share reserve, and (viii) the minimum pricing for the L2 Put Shares must exceed $.0.05. Pursuant to the terms of the L2 Registration Rights Agreement, the Company filed the L2 Registration Statement on October 17, 2018 and the Registration Statement was declared effective by the SEC on October 30, 2018. L2 Capital agreed, for a period of 180 days from the L2 Closing Date, not to sell, on any given day, a number of Commitment Shares that exceeds the greater of (i) 5% of the average daily trading volume of the Company’s shares of common stock for the period ended one trading day prior to the date of such sale, as reported on the Principal Market; and (ii) such number of Commitment Shares that equals (x) $5,000, divided by, (y) the closing price of the Company’s shares of common stock one trading day prior to the date of such sale, as reported on the Principal Market. Effective as of the L2 Closing Date, the Company reserved 924,143 shares of its common stock from its authorized and unissued shares of common stock to provide for all issuances of shares of common stock under the L2 Transaction Documents (in the event that the Company issued and sold the L2 Put Shares up to the Maximum Amount) and was required to reserve and keep available out of its authorized and unissued shares of common stock a number of shares of common stock at least three times the number of shares of common stock obtained by dividing the remaining balance on the maximum commitment amount by the L2 Purchase Price. While the Company had the obligation to maintain such reserve while the Purchase Agreement was effective, the Company did not have the obligation to sell any L2 Put Shares to L2 Capital. L2 Capital agreed, and agreed to cause any affiliate of L2 Capital acting on its behalf or pursuant to any understanding with it, not to execute any short sales during the period from the date hereof to the end of the Commitment Period. As of about February 7, 2019, the Company reached the maximum number of shares that it could put under the L2 Purchase Agreement, and therefore, the Company would have had to file with the SEC a new registration statement registering additional shares under the L2 Purchase Agreement if the Company had determined to continue to utilize the L2 Purchase Agreement. During the fiscal year ended June 30, 2019, the Company issued 113,200 shares of its common stock at an average price per share of $8.50, ranging from $6.50 to $20.00, as a result of delivering 14 L2 Put Notices to L2 Capital. As of June 30, 2019, the Company received gross aggregate proceeds of $964,009 from such put notices. Effective as of February 25, 2019, the Company terminated the L2 Purchase Agreement. February 25, 2019 Equity Purchase Agreement On February 25, 2019 (the “Closing Date”), the Company entered into an Equity Purchase Agreement (the “Purchase Agreement”) with a certain institutional investor (the “Investor”) pursuant to which the Investor committed to purchase up to $10,000,000 (the “Maximum Amount”) of the Company’s common stock (the “Financing”). In connection with the Financing, on the Closing Date, the Company and the Investor also entered into a Registration Rights Agreement (the “Registration Rights Agreement”, and together with the Purchase Agreement, the “Transaction Documents”). The Company will receive net proceeds from the sale of the Put Shares directly to the Investor pursuant to the Purchase Agreement, however, the Company will not receive any proceeds from the resale of the Put Shares by the Investor thereafter. Upon filing and effectiveness of the Company’s Registration Statement on Form S-1, which was declared effective by the SEC on March 7, 2019, and provided other closing conditions are met, from time to time over the term of the Purchase Agreement, the Company has the right, but not the obligation, to direct the Investor to purchase shares of the Company’s common stock (the “Put Shares”) in a maximum amount of $1,000,000, provided that the number of Put Shares did not exceed 250% of the Average Daily Trading Volume (as defined in the Purchase Agreement). At any time and from time to time during the 3-year term of the Purchase Agreement (the “Commitment Period”), the Company has the right to deliver a notice to the Investor (the “Put Notice”) and is obligated to deliver the Put Shares to Investor via DWAC (as defined in the Purchase Agreement) within two trading days. The purchase price (the “Purchase Price”) for the Put Shares was 87.5% of the one lowest daily volume weighted average price on the Principal Market (as defined in the Purchase Agreement) (as reported by Bloomberg Finance L.P.) during the five trading days immediately following the date the Investor receives the Put Shares via DWAC associated with the applicable Put Notice (the “Valuation Period”). The closing of a Put Notice occurs within one trading day following the end of the respective Valuation Period, whereby (i) the Investor is obligated to deliver the Investment Amount (as defined below) to the Company by wire transfer of immediately available funds and (ii) the Investor is obligated to return surplus Put Shares if the value of the Put Shares delivered to the Investor causes the Company to exceed the maximum commitment amount. The Company cannot deliver another Put Notice to the Investor within ten trading days of a prior Put Notice. The “Investment Amount” means the aggregate Purchase Price for the Put Shares purchased by the Investor, minus clearing costs due to the Investor’s broker or to the Company’s transfer agent for the issuance of the Put Shares (the “Clearing Costs”). The right of the Company to issue and sell the Put Shares to the Investor is subject to the satisfaction of certain closing conditions, including, but not limited to, (i) the Company’s Registration Statement on Form S-1 registering for resale by the Investor of the Put Shares continuing to be effective as was declared by the SEC on March 7, 2019, (ii) accuracy of the Company’s representations and warranties, (iii) the Company’s performance under the Purchase Agreement in all material respects, (iv) no suspension of trading or delisting of the Company’s common stock, (v) limitation of the Investor’s beneficial ownership to no more than 9.99%, (vi) the Company maintaining its DWAC-eligible status, (vii) the Company maintaining a sufficient share reserve, and (viii) the minimum pricing for the Put Shares must exceed $0.05. Pursuant to the terms of the Registration Rights Agreement, the Company filed the Registration Statement on February 25, 2019 and the Registration Statement was declared effective by the SEC on March 7, 2019. Effective as of the Closing Date, the Company reserved 1,333,333 shares of its common stock from its authorized and unissued shares of common stock to provide for all issuances of shares of common stock under the Transaction Documents (in the event that the Company issued and sold the Put Shares up to the Maximum Amount) and was required to reserve and keep available out of its authorized and unissued shares of common stock a number of shares of common stock at least three times the number of shares of common stock obtained by dividing the remaining balance on the maximum commitment amount by the Purchase Price. While the Company has the obligation to maintain such reserve while the Purchase Agreement was effective, the Company does not have the obligation to sell any Put Shares to the Investor. The Investor agreed, and agreed to cause any affiliate of the Investor acting on its behalf or pursuant to any understanding with it, not to execute any short sales during the period from the date hereof to the end of the Commitment Period. During the year ended June 30, 2019, the Company issued 34,000 shares of its common stock at an average price per share of $4.01, ranging from $3.06 to $4.90, as a result of delivering five Put Notices to the Investor. As of June 30, 2019, the Company received gross aggregate proceeds of $136,371 from such put notices. April 3, 2020 Security Purchase Agreement On April 3, 2020, the Company closed on a transaction related to a Securities Purchase Agreement (the “Securities Purchase Agreement”) entered into on March 30, 2020, whereby an investor (the “Investor”) purchased from the Company, 7,500,000 units (the “Units”), each consisting of (i) 1.5 shares of the Company’s common stock (the “Common Stock”), or pre-funded warrants (the “Prefunded Warrants”) upon Investor’s election due to the 4.99% blocker provision as discussed below and (ii) 1.5 warrants to purchase one share of Common Stock (“Series A Warrants”), along with such purchaser’s pro-rata portion of the Series B Warrants and Series C Warrants (“the Units”). In aggregate the Investor was issued 63,750,000 warrants to purchase one share of Common Stock (the “Series B Warrants”) and an additional 63,750,000 warrants to purchase one share of Common Stock, subject to a vesting schedule based on the Investors exercise of the Series B Warrants (the “Series C Warrants” and, together with the Prefunded Warrants, the Series A Warrants, and the Series B Warrants referred to herein as, the “Warrants”). See discussion of warrant terms under “Warrants” below. The aggregate purchase price for the Units, the Series A Warrants with exercise price of $0.20 per share, the Series B Warrants with exercise price of $0.04 per share and the Series C Warrants with exercise price of $0.20 per share, of $450,000 was paid at closing (the “Purchase Price”) or $0.06 per unit purchase price (see Warrants below). The Company received net proceeds of $424,990, net of offering cost of $25,010. The Securities Purchase Agreement contains a blocker provision whereby the Investor or any of its affiliates would not beneficially own in excess of 4.99% of the outstanding number of shares of Common Stock (“Beneficial Ownership Limitation”). As such, the Investor may elect to purchase Prefunded Warrants equal to the same number of shares of Common Stock that the Company would have been issued. Due to the Beneficial Ownership Limitation, the 11,250,000 shares of Common Stock underlying the Units issuable at closing of the Securities Purchase Agreement are comprised of 804,518 shares of restricted Common Stock and 10,445,482 Prefunded Warrants with exercise price of $0.0001 (but can be less than par value). The Prefunded Warrants shall be exercisable immediately and shall expire when exercised in full. The Securities Purchase Agreement contains such representations, warranties and covenants as are typical for a transaction of this nature. Shares issued for conversion of convertible debt During the year ended June 30, 2019, the Company issued 704,258 shares of its common stock at an average contractual conversion price of $4.76, ranging from approximately $0.61 to $14.97, as a result of the conversion of principal and interest in the aggregate amount of $3,350,783 underlying certain outstanding convertible notes converted during such period. The total recorded to equity was $3,350,783. The Company reclassified $1,824,317 in put premiums to additional paid in capital following conversions during the year ended June 30, 2019. During the year ended June 30, 2020, the Company issued 247,619,247 shares of its common stock at an average contractual conversion price of $0.007, ranging from $0.002 to $0.91, as a result of the conversion of principal and interest in the aggregate amount of $1,814,336 underlying certain outstanding principal amount and accrued interest of convertible notes converted during such period, including $15,000 of conversion fees. The total recorded to equity was $2,125,174. Notes with principal amounts totaling $254,500 and accrued interest of $15,408 contained bifurcated embedded conversion option derivatives. Accordingly, the fair market value of the shares issued was $565,746 resulting in a loss on extinguishment at the time of conversion of $295,838 and $362,961 of derivative fair value was recorded as a gain on extinguishment at the time of conversion. The Company reclassified $874,924 in put premiums to additional paid in capital following conversions during the year ended June 30, 2020. The Company has 739,138,743 shares of its common stock reserved for future issuances based on lender reserve requirements pursuant to underlying financing agreements at June 30, 2020. Shares issued for services On December 6, 2018, the Company entered into an agreement with a certain consultant to provide services over a six-month period beginning November 1, 2018 and ending May 1, 2019 in exchange for 4,000 shares of the Company’s common stock. On December 27, 2018, the Company issued the 4,000 shares of the Company’s common stock valued at $10.00 per share to such consultant, or $39,000, which will be amortized over the term of the agreement. The Company recorded $39,000 of consulting expense with respect to such shares of its common stock during the year ended June 30, 2019. On November 20, 2018, the Company’s Board of Directors authorized the issuance of 2,000 shares of the Company’s common stock in connection with certain legal services provided to the Company. On November 28, 2018, the Company issued such 2,000 shares of its common stock valued at $15.00, or $30,000. In March 2019 and effective as of December 21, 2018, the Company entered into a certain consulting services agreement with a certain consultant to provide services over a twelve-month period beginning December 21, 2018 in exchange for issuance of two tranches of 10,000 shares (subject to certain true-up provisions), for services to be rendered between December 21, 2018 and March 20, 2019, and 6,000 shares (subject to certain true-up provisions), for services to be rendered between March 21, 2019 and December 20, 2019 of the Company’s common stock. On May 8, 2019, the Company terminated the agreement with the consent of the consultant. The consultant agreed that the issuance of the first tranche of 10,000 shares (including the true-up provision) together with cash payments already made by the Company to the consultant fully satisfied the obligations (past and future) that the Company has under the consulting agreement including any claims under the true-up provisions of the agreement. In March 2019, the Company issued the first tranche of 10,000 shares of its common stock valued at $10.00 per share based on the quoted trading price to the consultant, or $100,000. The Company recorded $100,000 of consulting expense with respect to such shares of its common stock during the fiscal year ended June 30, 2019. On July 19, 2019, the Company entered into an agreement with a certain consultant to provide services over a two-month period beginning July 1, 2019 and ending September 1, 2019 in exchange for 20,000 shares of the Company’s common stock. On July 19, 2019, the Company issued the 20,000 shares of the Company’s common stock valued at $1.99 per share; being the closing price of the stock on the date of the agreement, to such consultant, or $39,800, which will be amortized over the term of the agreement. The Company recorded $39,800 of consulting expense with respect to such shares of its common stock during the year ended June 30, 2020. Between February 3, 2020 and June 26, 2020, the Company issued an aggregate of 8,708,574 shares of the Company’s common stock to a consultant for services rendered pursuant to an engagement agreement dated on September 10, 2019 which agreement was later amended in February 2020. Between February 3, 2020 and June 26, 2020, the Company issued an aggregate of 8,708,574 shares of the Company’s common stock valued at an average price of $0.008 per share; being the closing price of the stock on the date of the agreement, to such consultant, or $73,842. The Company recorded $73,842 of consulting expense with respect to such shares of its common stock during the year ended June 30, 2020. Restricted Stock Units Pursuant to employment agreements dated in May 2019 (see Note 9), the Company granted an aggregate of 78,000 and 39,000 restricted stock unit to the Company’s Chief Executive Officer and Chief Scientific Officer, respectively. The total 117,000 restricted stock units are subject to vesting terms as defined in the employment agreements. The 117,000 restricted stock units were valued at the fair value of $4.25 per unit or $497,240 based on the quoted trading price on the date of grant. During the year ended June 30, 2020 and 2019, the Company recognized stock-based compensation of $217,543 and $31,077, respectively, related to vested restricted stock units. There were $248,620 unrecognized restricted stock units expense as of June 30, 2020 which may be recognized upon achievement of certain performance conditions. Stock Options On May 14, 2019, the Company’s board of directors approved and adopted the Company’s 2019 Equity Incentive Plan (the “2019 Plan”), which reserves a total of 234,000 shares of the Company’s common stock for issuance under the 2019 Plan. Incentive awards authorized under the 2019 Plan include, but are not limited to, incentive stock options, non-qualified stock options, restricted stock awards and restricted stock units. Pursuant to employment agreements dated in May 2019 (see Note 10), the Company granted options to purchase 39,000 and 19,500 shares of the Company’s common stock to the Company’s Chief Executive Officer and Chief Scientific Officer, respectively. The total 58,500 options have a term of 10 years from the date of grant and exercise price ranging from $4.25 to $4.675 per share. 1/3 rd During the year ended June 30, 2020 and 2019, the Company recognized stock-based compensation of $82,873 and $10,360 related to vested stock options. There was $155,387 of unvested stock options expense as of June 30, 2020 that will be recognized through May 2022 or 1.85 years. A summary of the Company’s option activity during the years ended June 30, 2020 and 2019 is presented below: Weighted Number of Average Exercise Shares Price Per Share Outstanding at June 30, 2018 1,144 $ 3,750 Issued 58,500 4.53 Exercised - - Expired - - Outstanding at June 30, 2019 59,644 $ 76.37 Issued - - Exercised - - Forfeited - - Expired - - Outstanding at June 30, 2020 59,644 $ 76.37 Exercisable at June 30, 2020 20,644 $ 212.09 Outstanding and Exercisable: Weighted average remaining contractual term 8.72 Weighted average fair value of options granted during the period $ - Aggregate intrinsic value $ - Options Outstanding Options Exercisable Range of Exercise Price Number Outstanding at June 30, 2020 Weighted Average Remaining Contractual Life Weighted Average Exercise Price Aggregate Intrinsic Value Number Exercisable at June 30, 2020 Weighted Average Exercise Price Aggregate Intrinsic Value $ 4.25-4.68 58,500 8.88 Years $ 4.53 $ - 19,500 $ 4.50 $ - $ 3,750.00 1,144 0.79 Years 3,750.00 - 1,144 3,750.00 - 59,644 8.72 Years $ 76.37 $ - 20,644 $ 212.09 $ - Warrants On August 29, 2018, the Company received payment of $39 AUD for the exercise of a warrant for 24 shares of the Company’s common stock and issued such shares as a result of the exercise. On December 2, 2018, a total of 208 warrants expired. No warrants were issued during the year ended June 30, 2019. In connection with the issuance of the August 2019 Auctus Note, the Company issued common stock purchase warrants to Auctus to purchase 450,000 shares of the Company’s common stock (the “First Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such First Warrant at an “Exercise Price” of $2.25. In connection with the issuance of the Note, the Company shall issue a common stock purchase warrant to Buyer to purchase 300,000 shares of the Company’s common stock (the “Second Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such Second Warrant at an “Exercise Price” of $3.33. In connection with the issuance of the Note, the Company shall issue a common stock purchase warrant to Buyer to purchase 225,000 shares of the Company’s common stock (the “Third Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such Third Warrant at an “Exercise Price” of $4.50. The First Warrant, Second Warrant, and Third Warrant shall collectively be referred as the “Warrants”. The Warrants have an “Exercise Period” of five years form the date of issuance being August 30, 2019 (see Note 6). On September 10, 2019, the Company entered into an agreement with a certain consultant to provide services over a three-month period beginning September 10, 2019 and ending December 10, 2019 in exchange for 1,000,000 warrants to purchase the Company’s common stock at $2.00 per share with an expiry date of September 10, 2022. The Fair Market Value of the warrants was $984,810 on the date of grant as calculated under the Black Scholes Option Pricing model. The Company recorded $984,810 of share-based compensation expenses with respect to the grant of such warrants during the year ended June 30, 2020. In connection with the issuance of shares on April 3, 2020 as discussed above, the Company closed on a transaction related to a Securities Purchase Agreement (the “Securities Purchase Agreement”) entered into on March 30, 2020, whereby an investor purchased from the Company, 7,500,000 units, each consisting of (i) 1.5 shares of the Company’s common stock, or pre-funded warrants upon Investor’s election due to the 4.99% blocker provision and (ii) 1.5 warrants to purchase one share of Common Stock (“Series A Warrants”, and collectively with the Common Stock the “Units”). In addition to the Units, the Investor was issued 63,750,000 warrants to purchase one share of Common Stock (the “Series B Warrants”) and an additional 63,750,000 warrants to purchase one share of Common Stock, subject to a vesting schedule (the “Series C Warrants” and, together with the Prefunded Warrants, the Series A Warrants, and the Series B Warrants, the “Warrants”). Due to the Beneficial Ownership Limitation, the Company granted 10,445,482 Prefunded Warrants with exercise price of $0.0001 (but can be less than par value). The Prefunded Warrants shall be exercisable immediately and shall expire when exercised in full. On July 22, 2020, the Company received proceeds of $1,045 from the exercise of 10,445,482 Prefunded Warrants (see Note 13). Series A Warrants As discussed above, pursuant to the Securities Purchase Agreement entered into March 20, 2020, the Investor purchased Series A Warrants to purchase up to 11,250,000 shares of Common Stock, subject to adjustment as provided therein. The Series A Warrants have a cash exercise price of $0.20 per share and are immediately exercisable and expire in 3 years. The Series A Warrants contain a provision for cashless exercise in the event there is no effective registration statement registering the shares underlying the Series A Warrants calculated based on the difference between the exercise price of the Series A Warrant and the trading price of the stock (the “Cashless Exercise”).Additionally, the Series A Warrants contain another provision for a cashless exercise at the Holder’s option should the trading price of the Common Stock fall below $0.20 per share calculated based on the difference between the exercise price of the Series A Warrant and 70% of the Market Price, as defined therein (the” Alternate Cashless Exercise”). Series B Warrants As discussed above, pursuant to the Securities Purchase Agreement entered into March 20, 2020, the Investor purchased Series B Warrants to purchase up to 63,750,000 shares of Common Stock, subject to adjustment as provided therein; provided, however, commencing on the 90th day following the effective date, the Company may reduce the number of Warrant Shares issuable upon exercise thereof by 37,500,000 upon 10 Trading Days’ prior written notice to the Holder provided that the Company issues to the Holder 3,750,000 shares of Common Stock (or, at the election of the Holder, an equivalent number of pre-funded warrants) and Series A Warrants to purchase up to 3,750,000 shares of Common Stock, which shares shall be issued pursuant to a registration statement without restrictions on resale. The Series B Warrants have a cash exerci |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 9 – COMMITMENTS AND CONTINGENCIES Legal Matters A complaint against us, dated September 26, 2019, has been filed by Foley Shechter Ablovatskiy (“Foley Shechter”), our former counsel, seeking $151,031.50 in legal fees, in addition to interest and costs of suit. The Company believes these claims to be unfounded and is vigorously defending itself. To that end, on November 20, 2019 the Company filed a motion to dismiss certain counts of the complaint, with prejudice. That motion remains pending with the Supreme Court of the State of New York, County of New York. Oral argument is scheduled for November 5, 2020. Upon resolution of the motion, the Company shall file an answer, together with affirmative defences and counterclaims. The counterclaims shall include, without limitation, malpractice claims, arising out of Foley Shechter’s grossly negligent mishandling of certain transactions and excessive billing related thereto. Certain amounts related to this claim are included in accounts payable and accrued expenses in the accompanying Financial Statements. If our motion to dismiss is granted, our potential liability would be reduced to $51,031.51 plus interest and attorney’s fees. Regal Consulting, LLC (“Regal”) initiated litigation against the Company in Clark County District Court, Nevada. Regal is demanding approximately $400,000 and 60,000 shares of the Company’s common stock as payment for services that Regal purports to have performed. Regal additionally claims that $106,500 remains due on a Convertible Note executed by the Company in May of 2017 (the “2017 Note”), and asserts that it is owed in excess of $100,000 in penalties in connection with the Company’s refusal to honor certain Conversion Notices. The Company filed an Answer and Counterclaim, denying liability and alleging that Regal procured by fraud the Company’s execution of various consulting agreements and additionally failed to provide the consulting services contemplated by said agreements. The discovery process is ongoing. In addition, the parties have agreed to mediate their dispute and are in the process of selecting a mediator and scheduling their mediation. IRS Liability As part of its requirement for having a foreign operating subsidiary, the Company’s parent U.S. entity is required to file an informational Form 5471 to the Internal Revenue Service (the “IRS”), which is a form that explains the nature of the relationship between the foreign subsidiary and the parent company. From 2012 through the 2014, the Company did not file this form in a timely manner. As a result of the non-timely filings, the Company incurred a penalty from the IRS in the amount of $10,000 per year, or $30,000 in total, plus accrued interest, such penalty and interest having been accrued and is included in the Accrued expenses and other payable figure in the consolidated balance sheet. The Company recorded the penalties for all three years during the year ended June 30, 2018 and is negotiating a payment plan. The Company is current on all subsequent filings. Operating Agreements In November 2009, the Company entered into a commercialization agreement with the University of Bath (UK) (the “University”) whereby the Company and the University co-owned the intellectual property relating to the Company’s pro-enzyme formulations. In June 2012, the Company and the University entered into an assignment and amendment whereby the Company assumed full ownership of the intellectual property while agreeing to pay royalties of 2% of net revenues to the University. Additionally, the Company agreed to pay 5% of each and every license agreement subscribed for. The contract is cancellable at any time by either party. To date, no amounts are owed under the agreement. Operating Leases On May 5, 2016, the Company entered into a new five-year operating lease agreement with a Horizon Pty Ltd., a related party, of which Mr. Nathanielsz, our CEO, CFO and a director, and his wife are owners and directors, with monthly rent currently at $3,606 AUD or $2,431 USD, inclusive of GST (See Note 10 – Related Party Transactions). The initial rental amount was $3,000 AUD subject to a 3% yearly escalation. In adopting ASC Topic 842, Leases (Topic 842), the Company has elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 month or less. On July 1, 2019, upon adoption of ASC Topic 842, the Company recorded right-of-use assets $48,662 and total lease liabilities of $48,662 based on an incremental borrowing rate of 6%. ROU is summarized below: June 30, 2020 Office lease ROU $ 48,662 Less accumulated reduction (26,980 ) Balance of ROU asset as of June 30, 2020 $ 21,682 Operating lease liability related to the ROU asset is summarized below: June 30, 2020 Office lease liability $ 48,662 Reduction of lease liability (23,590 ) Total $ 25,072 Future Minimum lease payments under non-cancelable operating lease at June 30, 2020 are as follows: Fiscal Year 2021 $ 25,700 Imputed interest (628 ) Total operating lease liability $ 25,072 Amatsigroup Agreement The Company entered into a Manufacturing Services Agreement (the “MSA”) and Quality Assurance Agreement (the “QAA”), each with an effective date of August 12, 2016, with Amatsigroup NV (“Amatsigroup”), formerly known as Q-Biologicals, NV, a contract manufacturing organization located in Belgium. Pursuant to the MSA, Amatsigroup produces certain drug substances and products containing certain enzymes for the Company at its facility in Belgium. The Company uses these substances and products for development purposes, including but not limited to future clinical trials. The MSA contemplates payment to Amatsigroup pursuant to a pre-determined fee schedule based on the completion of certain milestones that depend on our manufacturing requirements and final batch yield. The Company anticipates that its payments to Amatsigroup under the MSA will range between $2.5 million and $5.0 million over three years, when the finished drug product is manufactured and released for clinical trials. The Company has spent a total of $1,689,146 of costs to date under this contract of which $49,854 was expensed in fiscal 2019, $701,973 in fiscal 2018 and $937,319 in fiscal 2017. The MSA expired in 2019 and may be extended by mutual agreement in writing with a possible extension currently under consideration. The Company can terminate the MSA early for any reason upon the required notice period, however, in such event, the pre-payment paid upon signing the MSA is considered non-refundable. Each party to the MSA shall have the right to terminate the MSA by written notice to the other party if the other party commits a material breach of the MSA (subject to a 30-day cure period). The QAA sets forth the parties’ respective obligations and responsibilities relating to the manufacturing and testing of the products under the MSA. The agreements with Amatsigroup contain certain customary representations, warranties and limitations of liabilities, and confidentiality and indemnity obligations. The MSA expired in 2019 and may be extended by mutual agreement in writing with a possible extension currently under consideration. Collaboration Agreement On September 13, 2018, the Company entered into a two-year collaboration agreement with the University of Jaén (the “University”) to provide certain research services to the Company, which agreement will be extended. In consideration of such services, the Company agreed to pay the University approximately 52,000 Euros ($59,508 USD) in year one and a maximum of 40,000 Euros ($45,775 USD) in year two. The Company paid 31,754 Euros ($36,117 USD) in 2019 and has accrued 15,410 Euros ($17,331 USD) in the year ended June 30,2020. Additionally, in exchange for full ownership of the intellectual property the Company agreed to pay royalties of 2% of net revenues to the University. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jun. 30, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 10 – RELATED PARTY TRANSACTIONS Since its inception, the Company has conducted transactions with its directors and entities related to such directors. These transactions have included the following: As of June 30, 2020 and 2019, the Company owed a current and a former director a total of $50,993 and $51,867, respectively, for money loaned to the Company throughout the years. The total loans balance owed at June 30, 2020 and 2019 is not interest bearing (See Note 5 – Loans and Notes Payable). As of June 30 2020, and 2019, the Company owed its former director a total of $30,639 and $31,164, respectively, related to expenses paid on behalf of the Company related to corporate startup costs and intellectual property (See Note 4 – Due to Former Director – Related Party). Effective May 5, 2016, the Company entered into an agreement for the lease of its principal executive offices with North Horizon Pty Ltd., a related party, of which Mr. Nathanielsz, our CEO, CFO and a director, and his wife are owners and directors. The lease has a five-year term expiring May 2021 and provides for annual rental payments of $39,600 AUD or $28,325 USD, which includes $3,600 AUD or $2,575 USD of goods and service tax for total payments of $198,000 AUD or $141,629 USD during the term of the lease. As of June 30, 2020, total payments of $37,295 AUD or $25,700 USD remain on the lease. (See Note 9 – Commitments and Contingencies) The Company and Mr. Nathanielsz entered into an employment agreement as of February 25, 2015 (the “Nathanielsz Employment Agreement”) setting forth the terms and conditions of Mr. Nathanielsz employment as the Company’s President and Chief Executive Officer. The Nathanielsz Employment Agreement was scheduled to expire on February 25, 2019; however, the term of the Nathanielsz Employment Agreement automatically renews for successive one-year periods unless either party provides 30 days’ prior written notice of its intent not to renew. The Nathanielsz Employment Agreement continues in effect as of June 30, 2020 as amended May 14, 2019 (see below). The Nathanielsz Employment Agreement provides Mr. Nathanielsz with a base salary of $25,000 AUD per month ($300,000 AUD annually or $205,680 USD) and a monthly contribution to Mr. Nathanielsz’s pension equal to 9.5% of his monthly salary. Mr. Nathanielsz has the ability to convert any accrued but unpaid salary into common stock at the end of each fiscal year at a conversion price to be determined by Mr. Nathanielsz and the Company, which will in no event be lower than par value or higher than the closing bid price on the date of conversion. Pursuant to the Nathanielsz Employment Agreement, Mr. Nathanielsz is entitled to an annual discretionary bonus in an amount up to 200% of his annual base salary, which bonus shall be determined by the Company’s board of directors based upon the performance of the Company. On March 16, 2018, the Company’s board of directors approved an increase of Mr. Nathanielsz’s annual base salary from $300,000 AUD ($205,680 USD) to $400,000 AUD ($274,240 USD), effective February 2018. Mr. Nathanielsz’s wife, Sylvia Nathanielsz, is and has been a non-executive part-time employee of the Company since October 2015. Effective February 1, 2018. Mrs. Nathanielsz receives an annual salary of $120,000 AUD ($80,904 USD) and is entitled to customary benefits. Pursuant to a February 25, 2016 board resolution, James Nathanielsz shall be paid $4,481 AUD ($3,205 USD), on a monthly basis for the purpose of acquiring and maintaining an automobile. For the ended June 30, 2020, a total of $44,918 AUD ($30,284 USD) in payments have been made with respect to Mr. Nathanielsz’s car allowance. For the fiscal year ended June 30, 2019, a total of $53,772 AUD ($38,463 USD) in costs have been incurred with respect to Mr. Nathanielsz’s car allowance. Pursuant to the approval of the Company’s board of directors, on March 16, 2018, Mr. Nathanielsz was granted a $300,000 AUD ($210,090 USD) bonus for accomplishments achieved while serving as the Company’s Chief Executive Officer during the fiscal year 2018. A total of $80,046 AUD ($56,056 USD) in payments were made in fiscal 2018. During the year ended June 30, 2019, an additional $219,954 AUD ($150,602 USD) was paid. Such bonus was fully paid to Mr. Nathanielsz as of June 30, 2019. Pursuant to the approval of the Company’s board of directors, on May 14, 2019, Mr. Nathanielsz was granted a $460,000 AUD ($315,376 USD) bonus for accomplishments achieved while serving as the Company’s Chief Executive Officer during the fiscal year ended June 30, 2019 with $200,000 AUD ($137,120 USD) of such bonus payable by the Corporation to the CEO throughout the Corporation’s 2019 fiscal year as the Corporation’s cash resources allow, with the remaining $260,000 AUD ($178,256 USD) of such bonus to be deferred by the CEO until a future date when the Corporation’s cash resources allow for such payment, as agreed to by the CEO. A total of $90,000 AUD ($64,377 USD) in payments were made in the year ended June 30, 2019. On July 13, 2020 the Board approved a bonus of $240,000 AUD being equal to 60% of Mr Nathanielsz base salary which was accrued as of June 30, 2020. A total of $202,620 AUD ($136,606 USD) in payments were made in during the year ended June 30, 2020, with $407,380 AUD ($280,726 USD) remaining due and payable. New Employment and Services Agreements with Management Amended and Restated Employment Agreement ― On May 14, 2019 (the “Effective Date”), the Company entered into an Amended and Restated Employment Agreement (the “Employment Agreement”) with James Nathanielsz, the Company’s Chief Executive Officer, Chairman, acting Chief Financial Officer and a director, for a term of three years, subject to automatic one-year renewals, at an annual salary of $400,000 AUD. Pursuant to the Employment Agreement, Mr. Nathanielsz was granted options to purchase 39,000 shares of the Company’s common stock (the “Nathanielsz Options”), with an exercise price per share of $4.675 (110% of the closing market price of the Company’s common stock on May 14, 2019 (or $4.25), the date of approval of such grant by the Company’s board of directors), (ii) 39,000 restricted stock units of the Company (the “Initial Nathanielsz RSUs”), and (iii) an additional 39,000 restricted stock units of the Company (the “Additional Nathanielsz RSUs”). Such options and restricted stock units were granted pursuant to the 2019 Plan approved by the Company’s board of directors on the Effective Date. The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz’s continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz’s continued employment with the Company through the applicable vesting date: (i) 7,800 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the “CTA”) for PRP, the Company’s lead product candidate (“PRP”), for a First-In-Human study for PRP (the “Study”) in an applicable jurisdiction to be selected by the Company, (ii) 7,800 of the Additional Nathanielsz RSUs shall vest upon the CTA being approved in an applicable jurisdiction, (iii) 7,800 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iv) 7,800 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7,800 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested restricted stock unit shall be settled by delivery to Mr. Nathanielsz of one share of the Company’s common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company’s board of directors and subject to the 2019 Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Employment Agreement), (ii) the date that is ten business days following the vesting of such restricted stock unit, (iii) the date of Mr. Nathanielsz’s death or Disability (as defined in the Employment Agreement), and (iv) Mr. Nathanielsz’s employment being terminated either by the Company without Cause or by Mr. Nathanielsz for Good Reason (each as defined in the Employment Agreement). In the event of a Change of Control, any unvested portion of the Nathanielsz Options and such restricted stock units shall vest immediately prior to such event. The 78,000 restricted stock units were valued at the fair value of $4.25 per unit or $331,500 based on the quoted trading price on the date of grant. The 39,000 stock options were valued using a Black-Scholes model with the following assumptions: stock price at valuation date of $4.25 based on quoted trading price on date of grant, exercise price of $4.65, dividend yield of zero, years to maturity of 10.00, a risk free rate of 2.42%, and expected volatility 268% for a total value of $165,747 (see Note 8 – Stockholders’ Deficit). Amended and Restated Services Agreement ― On the Effective Date, the Company also entered into an Amended and Restated Services Agreement (the “Services Agreement”) with Dr. Kenyon, the Company’s Chief Scientific Officer and a director, for a term of three years, subject to automatic one-year renewals, at an annual salary of $54,000 AUD. In connection with the execution of the Services Agreement, Dr. Kenyon was designated as an executive officer of the Company and assumed a more active executive role with the Company. Pursuant to the Services Agreement, Dr. Kenyon was granted options to purchase 19,500 shares of the Company’s common stock (the “Kenyon Options”), with an exercise price per share of $4.25 (100% of the closing market price of the Company’s common stock on May 14, 2019, the date of approval of such grant by the Company’s board of directors), (ii) 19,500 restricted stock units of the Company (the “Initial Kenyon RSUs”), and (iii) an additional 19,500 restricted stock units of the Company (the “Additional Kenyon RSUs”). Such options and restricted stock units were granted pursuant to the 2019 Plan approved by the Company’s board of directors on the Effective Date. The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon’s continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon’s continued employment with the Company through the applicable vesting date: (i) 4,875 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 4,875 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 4,875 of the Additional Kenyon RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 4,875 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested Kenyon RSU shall be settled by delivery to Mr. Kenyon of one share of the Company’s common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company’s board of directors and subject to the Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Services Agreement), (ii) the date that is ten business days following the vesting of such Kenyon RSU, (iii) the date of Dr. Kenyon’s death or Disability (as defined in the Services Agreement), and (iv) Dr. Kenyon’s employment being terminated either by the Company without Cause or by Dr. Kenyon for Good Reason (as defined in the Services Agreement). In the event of a Change of Control (as defined in the Services Agreement), 50% of any unvested portion of the Kenyon Options and the Kenyon RSUs shall vest immediately prior to such event. The 39,000 restricted stock units were valued at the fair value of $4.25 per unit or $165,750 based on the quoted trading price on the date of grant. The 19,500 stock options were valued using a Black-Scholes model with the following assumptions: stock price at valuation date of $4.25 based on quoted trading price on date of grant, exercise price of $4.25, dividend yield of zero, years to maturity of 10.00, a risk free rate of 2.42%, and expected volatility 268% for a total value of $82,873 (see Note 8 – Stockholders’ Deficit). |
Concentrations and Risks
Concentrations and Risks | 12 Months Ended |
Jun. 30, 2020 | |
Risks and Uncertainties [Abstract] | |
Concentrations and Risks | NOTE 11 – CONCENTRATIONS AND RISKS Concentration of Credit Risk The Company maintains its cash in banks and financial institutions in Australia. Bank deposits in Australian banks are uninsured. The Company has not experienced any losses in such accounts through June 30, 2020. The Company currently primarily relies on funding from three convertible debt lenders. Proceeds received in the year from each of the three lenders were $621,000, $362,000 and $200,000, respectively, which represents approximately 45%, 26% and 15%, respectively of total proceeds received by the Company during fiscal year 2019. The Company currently primarily relies on funding from three convertible debt lenders. Proceeds received in the year from each of the three lenders were $285,000, $505,000, and $227,000, respectively, which represents approximately 18%, 32% and 14%, respectively of total proceeds received by the Company during fiscal year 2020. Receivable Concentration As of June 30, 2020 and 2019, the Company’s receivables were 100% related to reimbursements on GST taxes paid. Patent and Patent Concentration The Company has filed multiple patent applications relating to its lead product, PRP. The Company’s lead patent application has been granted and remains in force in the United States, Belgium, Czech Republic, Denmark, France, Germany, Ireland, Italy, Netherlands, Portugal, Spain, Sweden, Switzerland, Liechtenstein, Turkey, United Kingdom, Australia, China, Japan, Indonesia, Israel, New Zealand, Singapore, Malaysia, South Africa, Mexico, Republic of Korea and India. In Brazil and Canada, the patent application remains under examination. In 2016 and early 2017, we filed other patent applications. Three applications were filed under the Patent Cooperation Treaty (the “PCT”). The PCT assists applicants in seeking patent protection by filing one international patent application under the PCT, applicants can simultaneously seek protection for an invention in over 150 countries. Once filed, the application is placed under the control of the national or regional patent offices, as applicable, in what is called the national phase. One of the PCT applications filed in November 2016, entered national phase in July 2018 and another PCT application is currently entering national phase in August 2018. A third PCT application entered the national phase in October 2018. Further patent applications are expected to be filed to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer. Foreign Operations As of June 30, 2020 and 2019, the Company’s operations are based in Camberwell, Australia, however the majority of research and development is being conducted in the European Union. On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application with the European Medicines Agency as a small and medium-sized enterprise. As of June 30, 2020 and 2019, there has been no activity within this entity. |
Derivative Financial Instrument
Derivative Financial Instruments and Fair Value Measurements | 12 Months Ended |
Jun. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments and Fair Value Measurements | NOTE 12 - DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Derivative Financial Instruments: The Company applies the provisions of ASC 815-40, Contracts in Entity’s Own Equity The Company calculates the estimated fair values of the liabilities for derivative instruments using the Binomial Trees Method. The closing price of the Company’s common stock at June 30, 2020, the last trading day of the fiscal year ended June 30, 2020, was $0.0039. Volatility, expected remaining term and risk-free interest rates used to estimate the fair value of derivative liabilities at June 30, 2020 are indicated in the table that follows. The expected term is equal to the remaining term of the warrants or convertible instruments and the risk free rate is based upon rates for treasury securities with the same term. Convertible Debt Initial June 30, 2020 June 30, 2019 Volatility 227- 279 % 264 % 355 % Expected remaining term 1.00 0.01 – 0.70 0.11 - 0.90 Risk-free interest rate 1.53 – 1.59 % 0.13 – 0.18 % 1.92 - 2.15 % Expected dividend yield None None None Fair Value Measurements: The Company measures and reports at fair value the liability for derivative instruments. The fair value liabilities for embedded conversion options have been recorded as determined utilizing the Binomial Trees model. The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020: Balance at June 30, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Embedded conversion option liabilities $ 177,009 $ — $ — $ 177,009 Total $ 177,009 $ — $ — $ 177,009 The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019: Balance at June 30, 2019 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Embedded conversion option liabilities $ 698,264 $ — $ — $ 698,264 Total $ 698,264 $ — $ — $ 698,264 The following is a roll forward for the years ended June 30, 2020 and 2019 of the fair value liability of price adjustable derivative instruments: Fair Value of Liability for Derivative Instruments Balance at June 30, 2018 $ 371,532 Effects of foreign currency exchange rate changes - Reductions due to conversions (1,388,764 ) Reductions due to repayment of debt (936,650 ) Initial fair value of embedded conversion option derivative liability recorded as debt discount 180,000 Initial fair value of embedded conversion option derivative liability recorded as change in fair value of embedded conversion option 382,944 Change in fair value included in statements of operations 2,089,202 Balance at June 30, 2019 698,264 Reductions due to conversions (362,962 ) Initial fair value of embedded conversion option derivative liability recorded as debt discount 227,000 Initial fair value of embedded conversion option derivative liability recorded as derivative expense 351,461 Change in fair value included in derivative expense (income) in the statement of operations (736,754 ) Balance at June 30, 2020 $ 177,009 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 13 – SUBSEQUENT EVENTS Exercise of Warrants On July 22, 2020, the Company received aggregate gross proceeds of $101,045 from the exercise of 10,445,482 prefunded warrants and 2,500,000 Series B Warrants (see Note 8). Note Conversions From July 1, 2020 through September 28, 2020, the Company issued an aggregate of 442,031,352 shares of its common stock at an average contractual conversion price of $0.00096, ranging from $0.00056 to $0.0020, as a result of the conversion of principal of $391,935, interest of $25,735 and conversion fees $6,750 underlying certain outstanding convertible notes converted during such period. On September 18, 2020 the Company prepaid an outstanding convertible note in the amount of $57,671 comprising the note principal of $43,000 plus $1,705 of accrued interest and a prepayment penalty of $12,966. The Company reclassified $204,919 in put premiums to additional paid in capital following conversions between July 2020 and September 2020. Notes totaling $75,000 contained bifurcated embedded conversion option derivatives. Accordingly, the fair market value of the shares issued was $134,155 resulting in a loss on extinguishment at the time of conversion of $56,155 and $106,141 of derivative fair value was recorded as a gain on extinguishment at the time of conversion. |
Nature of Operations and Summ_2
Nature of Operations and Summary of Significant Accounting and Reporting Policies (Policies) | 12 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations Propanc Biopharma, Inc. (the “Company,” “we,” “us” or “our”) was originally incorporated in Melbourne, Victoria Australia on October 15, 2007 as Propanc PTY LTD, and continues to be based in Camberwell, Victoria Australia. Since its inception, substantially all of the operations of the Company have been focused on the development of new cancer treatments targeting high-risk patients, particularly cancer survivors, who need a follow-up, non-toxic, long-term therapy designed to prevent the cancer from returning and spreading. The Company anticipates establishing global markets for its technologies. Our lead product candidate, which we refer to as PRP, is an enhanced pro-enzyme formulation designed to enhance the anti-cancer effects of multiple enzymes acting synergistically. It is currently in the preclinical phase of development. On November 23, 2010, the Company was incorporated in the state of Delaware as Propanc Health Group Corporation. In January 2011, to reorganize the Company, we acquired all of the outstanding shares of Propanc PTY LTD on a one-for-one basis making it a wholly-owned subsidiary of the Company. On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application to the European Medicines Agency as a small and medium-sized enterprise. As of June 30, 2020, there has been no activity within this entity. Effective April 20, 2017, the Company changed its name to “Propanc Biopharma, Inc.” to better reflect the Company’s stage of operations and development. The Company has filed multiple patent applications relating to its lead product, PRP. The first application was filed in October 2010. This patent application has been granted and remains in force in the United States, Belgium, Czech Republic, Denmark, France, Germany, Ireland, Italy, Netherlands, Portugal, Spain, Sweden, Switzerland, Liechtenstein, Turkey, United Kingdom, Australia, China, Hong Kong, Japan, Indonesia, Israel, New Zealand, Singapore, Malaysia, South Africa, Mexico, Republic of Korea and India. In Brazil and Canada, the patent application remains under examination. In 2016 and 2017 we filed other patent applications. Three applications were filed under the Patent Cooperation Treaty (the “PCT”). The PCT assists applicants in seeking patent protection by filing one international patent application under the PCT, which allows the applicants to seek protection for an invention in over 150 countries. Once national or regional applications are filed, the application is placed under the control of the national or regional patent offices, as applicable, in what is called the national or regional phase. One PCT application, filed in November 2016, entered the national phase in July 2018. A second application filed in January 2017 entered the national phase commencing July 2018. A third application entered the national phase in October 2018. The Company hopes to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer by filing additional patent applications as it advances its lead product candidate, PRP, through various stages of development. |
Changes in Authorized Common Stock and Reverse Split | Changes in Authorized Common Stock and Reverse Split On June 24, 2019, the Company effected a one-for-five hundred (1:500) reverse stock split whereby the Company (i) decreased the number of authorized shares of common stock, $0.001 par value per share, to 100,000,000 and (ii) decreased by a ratio of one-for-five hundred (1:500) the number of retroactively issued and outstanding shares of common stock. Proportional adjustments for the reverse stock split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the reverse stock split. On February 4, 2020 the Directors resolved to increase the Common Stock of the Company from 100,000,000 authorized shares to 1,000,000,000 authorized shares and believes that such number of authorized shares of Common Stock will be in the best interests of the Corporation and its stockholders because the Board believes that the availability of more shares of Common Stock for issuance will allow the Corporation greater flexibility in pursuing financing from investors, meeting business needs as they arise, taking advantage of favorable opportunities and responding to a changing corporate environment. The Company filed the necessary documents with the U.S. Securities and Exchange Commission on February 6, 2020 and at the date of this filing the increase in authorized shares to 1,000,000,000 has been effected on March 13, 2020. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of Propanc Biopharma, Inc., the parent entity, and its wholly-owned subsidiary, Propanc PTY LTD. All inter-company balances and transactions have been eliminated in consolidation. Propanc (UK) Limited was an inactive subsidiary from inception through June 30, 2020. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements include the estimates of useful lives for depreciation, valuation of the operating lease liability and related right-of-use asset, valuation of derivatives, valuation of beneficial conversion features on convertible debt, allowance for uncollectable receivables, valuation of equity based instruments issued for other than cash, the valuation allowance on deferred tax assets and foreign currency translation due to certain average exchange rates applied in lieu of spot rates on transaction dates. |
Foreign Currency Translation and Other Comprehensive Income (Loss) | Foreign Currency Translation and Other Comprehensive Income (Loss) The Company’s wholly owned subsidiary’s functional currency is the Australian dollar (AUD). For financial reporting purposes, the Australian dollar has been translated into the Company’s reporting currency which is the United States dollar ($) and/or (USD). Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive income (loss) as other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of Australian dollars to USD after the balance sheet date. Other Comprehensive Income (Loss) for all periods presented includes only foreign currency translation gains (losses). Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. For the year ended June 30, 2020, the Company recognized an exchange loss of approximately $133,000 on intercompany loans made by the parent to the subsidiary which have not been repaid as at June 30, 2020. As of June 30, 2020 and 2019, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows: June 30, 2020 June 30, 2019 Exchange rate on balance sheet dates USD : AUD exchange rate 0.6891 0.7153 Average exchange rate for the period USD : AUD exchange rate 0.6742 0.7009 Change in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2020 and 2019 was as follows: Foreign Beginning balance, June 30, 2018 $ 357,929 Foreign currency translation gain 709,069 Balance, June 30, 2019 1,066,998 Foreign currency translation gain 200,673 Ending balance, June 30, 2020 $ 1,267,671 |
Fair Value of Financial Instruments and Fair Value Measurements | Fair Value of Financial Instruments and Fair Value Measurements The Company measures its financial assets and liabilities in accordance with US GAAP. For certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate fair value due to their short maturities. Amounts recorded for notes payable, net of discount, and loans payable also approximate fair value because current interest rates available for debt with similar terms and maturities are substantially the same. The Company follows accounting guidance for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs, other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. Also see Note 12 - Derivative Financial Instruments and Fair Value Measurements. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand and at banks, short-term deposits with an original maturity of three months or less with financial institutions, and bank overdrafts. Bank overdrafts are reflected as a current liability on the balance sheets. There were no cash equivalents as of June 30, 2020 or June 30, 2019. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are expensed as incurred; additions, renewals, and betterments are capitalized. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of property and equipment is provided using the declining balance method. The depreciable amount is the cost less its residual value. The estimated useful lives are as follows: Machinery and equipment - 5 years Furniture - 7 years |
Patents | Patents Patents are stated at cost and reclassified to intangible assets and amortized on a straight-line basis over the estimated future periods if and once the patent has been granted by a regulatory agency. However, the Company will expense any patent costs as long as we are in the startup stage. Accordingly, as the Company’s products are not currently approved for market, all patent costs incurred from 2013 through June 30, 2020 were expensed immediately. This practice of expensing patent costs immediately ends when a product receives market authorization from a government regulatory agency. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets In accordance with ASC 360-10, “ Long-lived assets,” |
Employee Benefit/Liability | Employee Benefit/Liability Liabilities arising in respect of wages and salaries, accumulated annual leave, accumulated long service leave and any other employee benefits expected to be settled within twelve months of the reporting date are measured based on the employees remuneration rates applicable at the reporting date. All other employee benefit liabilities are measured at the present value of the estimated future cash outflow to be made in respect of services provided by employees up to the reporting date. All employee liabilities are owed within the next twelve months. |
Australian Goods and Services Tax ("GST") | Australian Goods and Services Tax (“GST”) Revenues, expenses and balance sheet items are recognized net of the amount of GST, except payable and receivable balances which are shown inclusive of GST. The GST incurred is payable on revenues to, and recoverable on purchases from, the Australian Taxation Office. Cash flows are presented in the statements of cash flow on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows. As of June 30, 2020 and 2019, the Company was owed $2,015 and $5,439, respectively, from the Australian Taxation Office. These amounts were fully collected subsequent to the balance sheet reporting dates. |
Derivative Instruments | Derivative Instruments ASC Topic 815, Derivatives and Hedging |
Convertible Notes with Variable Conversion Options | Convertible Notes With Variable Conversion Options The Company has entered into convertible notes, some of which contain variable conversion options, whereby the outstanding principal and accrued interest may be converted, by the holder, into common shares at a fixed discount to the price of the common stock at or around the time of conversion. The Company treats these convertible notes as stock settled debt under ASC 480, “ Distinguishing Liabilities from Equity |
Income Taxes | Income Taxes The Company is governed by Australia and United States income tax laws, which are administered by the Australian Taxation Office and the United States Internal Revenue Service, respectively. The Company follows ASC 740 “ Accounting for Income Taxes The Company follows ASC 740, Sections 25 through 60, “ Accounting for Uncertainty in Income Taxes |
Research and Development Costs and Tax Credits | Research and Development Costs and Tax Credits In accordance with ASC 730-10, “Research and Development-Overall,” The Company may apply for research and development tax concessions with the Australian Taxation Office on an annual basis. Although the amount is possible to estimate at year end, the Australian Taxation Office may reject or materially alter the claim amount. Accordingly, the Company does not recognize the benefit of the claim amount until cash receipt since collectability is not certain until such time. The tax concession is a refundable credit. If the Company has net income, then the Company can receive the credit which reduces its income tax liability. If the Company has net losses, then the Company may still receive a cash payment for the credit, however, the Company’s net operating loss carryforwards are reduced by the gross equivalent loss that would produce the credit amount when the income tax rate is applied to that gross amount. The concession is recognized as an income tax benefit, in operations, upon receipt. During each of the fiscal years ended June 30, 2020 and 2019, the Company applied for, and received from the Australian Taxation Office, a research and development tax credit in the amount of $134,728 and $115,437, respectively, which is reflected as a tax benefit in the accompanying consolidated statements of operations and comprehensive income (loss). |
Stock Based Compensation | Stock Based Compensation The Company records stock-based compensation in accordance with ASC 718, “ Stock Compensation The Company adopted ASU 2018-07 and accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 718 and recognizes the fair value of such awards over the service period. The Company used the modified prospective method of adoption. There was no cumulative effect of adoption on July 1, 2019. |
Revenue Recognition | Revenue Recognition The Company adopted and implemented on July 1, 2018, ASC 606 – Revenue from Contracts with Customers (“ASC 606”). ASC 606 did not have a material impact on the consolidated financial statements. Upon implementation of ASC 606, the Company recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Subject to these criteria, the Company intends to recognize revenue relating to royalties on product sales in the period in which the sale occurs and the royalty term has begun. |
Legal Expenses | Legal Expenses All legal costs for litigation are charged to expense as incurred. |
Leases | Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases On July 1, 2019, the Company adopted ASU No. 2016-02, applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases and; (ii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assessed whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments. Operating lease ROU assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company use an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the condensed consolidated statements of operations. |
Basic and Diluted Net Loss Per Common Share | Basic and Diluted Net Loss Per Common Share Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. As of June 30, 2019, there were 59 warrants outstanding, 59,644 stock options and 10 convertible notes payable, which notes are convertible into approximately 1,810,347 shares of the Company’s common stock. As of June 30, 2020, there were 151,170,514 warrants outstanding, 59,644 stock options and 11 convertible notes payable, which notes are convertible into approximately 439,113,281 shares of the Company’s common stock. Each holder of the notes has agreed to a 4.99% beneficial ownership conversion limitation (subject to certain noteholders’ ability to increase such limitation to 9.99% upon 60 days’ notice to the Company), and each note may not be converted during the first six-month period from the date of issuance. Such securities are considered dilutive securities which were excluded from the computation since the effect is anti-dilutive. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. We have carefully considered the new pronouncements that alter previous generally accepted accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of the Company’s financial management. |
Nature of Operations and Summ_3
Nature of Operations and Summary of Significant Accounting and Reporting Policies (Tables) | 12 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Schedule of Translation Exchange Rates | As of June 30, 2020 and 2019, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows: June 30, 2020 June 30, 2019 Exchange rate on balance sheet dates USD : AUD exchange rate 0.6891 0.7153 Average exchange rate for the period USD : AUD exchange rate 0.6742 0.7009 |
Schedule of Change in Accumulated Other Comprehensive Income (Loss) | Change in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2020 and 2019 was as follows: Foreign Beginning balance, June 30, 2018 $ 357,929 Foreign currency translation gain 709,069 Balance, June 30, 2019 1,066,998 Foreign currency translation gain 200,673 Ending balance, June 30, 2020 $ 1,267,671 |
Schedule of Property and Equipment Estimated Useful Lives | The estimated useful lives are as follows: Machinery and equipment - 5 years Furniture - 7 years |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | Property and equipment consist of the following as of June 30, 2020 2019 Office equipment at cost $ 26,299 $ 26,749 Less: Accumulated depreciation (20,552 ) (18,332 ) Total property, plant, and equipment $ 5,747 $ 8,417 |
Convertible Notes (Tables)
Convertible Notes (Tables) | 12 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Convertible Notes | The Company’s convertible notes outstanding at June 30, 2020 and 2019 were as follows: June 30, 2020 June 30, 2019 Convertible notes and debenture $ 1,029,496 $ 1,076,785 Unamortized discounts (126,667 ) (131,893 ) Accrued interest 80,101 99,482 Premium, net 574,804 613,003 Convertible notes, net $ 1,557,734 $ 1,657,377 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax Provision | The reconciliation of income tax expense computed at the U.S. federal statutory rate of 21% to the income tax provision for the years ended June 30, 2020 and 2019 is as follows: Year Ended June 30, 2020 June 30, 2019 Taxes under statutory US tax rates $ (995,552 ) $ (1,209,258 ) Increase (decrease) in valuation allowance 1,137,716 1,394,444 Prior period adjustment (14,624 ) - Foreign tax rate differential (128,492 ) (186,286 ) Other 952 1,100 Income tax (expense) benefit $ - $ - |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities consist of the following: Year Ended June 30, 2020 June 30, 2019 Deferred tax assets Warrant Derivative Liability $ 7,403 $ 7,403 Accrued Expenses 297,086 198,193 Prepaid Investor Services 470,050 414,396 Non-cash interest 596,004 - Intangibles (Intellectual Property and Patent Cost) 240,428 212,881 Deferred Rent 1,969 - Formation Expense 7,208 7,208 Net Operating Loss carry forward 7,438,911 6,573,215 Foreign Exchange Loss (OCI) (39,379 ) (39,379 ) Revalue of derivative liability 438,239 519,151 Stock Based Compensation 51,481 51,481 Total Deferred tax assets $ 9,509,400 $ 7,944,549 Deferred tax liabilities R&D $ (177,702 ) $ (139,833 ) Gain on extinguishment of debt (266,987 ) - Capital Raising Costs (255,614 ) (133,335 ) Total deferred tax liabilities $ (700,303 ) $ (273,168 ) Net deferred tax assets $ 8,809,097 $ 7,671,381 Valuation allowance (8,809,097 ) (7,671,381 ) Net deferred taxes $ - $ - |
Stockholders' Deficit (Tables)
Stockholders' Deficit (Tables) | 12 Months Ended |
Jun. 30, 2020 | |
Equity [Abstract] | |
Schedule of Stock Option Activity | A summary of the Company’s option activity during the years ended June 30, 2020 and 2019 is presented below: Weighted Number of Average Exercise Shares Price Per Share Outstanding at June 30, 2018 1,144 $ 3,750 Issued 58,500 4.53 Exercised - - Expired - - Outstanding at June 30, 2019 59,644 $ 76.37 Issued - - Exercised - - Forfeited - - Expired - - Outstanding at June 30, 2020 59,644 $ 76.37 Exercisable at June 30, 2020 20,644 $ 212.09 Outstanding and Exercisable: Weighted average remaining contractual term 8.72 Weighted average fair value of options granted during the period $ - Aggregate intrinsic value $ - |
Schedule of Option Exercise Price Range | Options Outstanding Options Exercisable Range of Exercise Price Number Outstanding at June 30, 2020 Weighted Average Remaining Contractual Life Weighted Average Exercise Price Aggregate Intrinsic Value Number Exercisable at June 30, 2020 Weighted Average Exercise Price Aggregate Intrinsic Value $ 4.25-4.68 58,500 8.88 Years $ 4.53 $ - 19,500 $ 4.50 $ - $ 3,750.00 1,144 0.79 Years 3,750.00 - 1,144 3,750.00 - 59,644 8.72 Years $ 76.37 $ - 20,644 $ 212.09 $ - |
Schedule of Warrant Activity | The following table summarizes warrant activity for the years ended June 30, 2020 and 2019: Weighted Number of Average Shares Price Per Share Outstanding at June 30, 2018 291 $ 5,555 Issued - - Exercised (24 ) - Forfeited - - Expired (208 ) - Outstanding at June 30, 2019 59 $ 4,765 Issued 151,170,482 0.15 Exercised - - Forfeited - - Expired (27 ) - Outstanding at June 30, 2020 151,170,514 $ 0.15 Exercisable at June 30, 2020 151,170,482 $ 0.15 Outstanding and Exercisable: Weighted average remaining contractual term 2.76 Aggregate intrinsic value $ 30,292 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jun. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Right Use of Asset | ROU is summarized below: June 30, 2020 Office lease ROU $ 48,662 Less accumulated reduction (26,980 ) Balance of ROU asset as of June 30, 2020 $ 21,682 |
Schedule of Operating Lease Liability | Operating lease liability related to the ROU asset is summarized below: June 30, 2020 Office lease liability $ 48,662 Reduction of lease liability (23,590 ) Total $ 25,072 |
Schedule of Future Minimum Rental Payments for Operating Leases | Future Minimum lease payments under non-cancelable operating lease at June 30, 2020 are as follows: Fiscal Year 2021 $ 25,700 Imputed interest (628 ) Total operating lease liability $ 25,072 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended |
Jun. 30, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | The expected term is equal to the remaining term of the warrants or convertible instruments and the risk free rate is based upon rates for treasury securities with the same term. Convertible Debt Initial June 30, 2020 June 30, 2019 Volatility 227- 279 % 264 % 355 % Expected remaining term 1.00 0.01 – 0.70 0.11 - 0.90 Risk-free interest rate 1.53 – 1.59 % 0.13 – 0.18 % 1.92 - 2.15 % Expected dividend yield None None None |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020: Balance at June 30, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Embedded conversion option liabilities $ 177,009 $ — $ — $ 177,009 Total $ 177,009 $ — $ — $ 177,009 The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2019: Balance at June 30, 2019 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Embedded conversion option liabilities $ 698,264 $ — $ — $ 698,264 Total $ 698,264 $ — $ — $ 698,264 |
Schedule of Derivative Liabilities at Fair Value | The following is a roll forward for the years ended June 30, 2020 and 2019 of the fair value liability of price adjustable derivative instruments: Fair Value of Liability for Derivative Instruments Balance at June 30, 2018 $ 371,532 Effects of foreign currency exchange rate changes - Reductions due to conversions (1,388,764 ) Reductions due to repayment of debt (936,650 ) Initial fair value of embedded conversion option derivative liability recorded as debt discount 180,000 Initial fair value of embedded conversion option derivative liability recorded as change in fair value of embedded conversion option 382,944 Change in fair value included in statements of operations 2,089,202 Balance at June 30, 2019 698,264 Reductions due to conversions (362,962 ) Initial fair value of embedded conversion option derivative liability recorded as debt discount 227,000 Initial fair value of embedded conversion option derivative liability recorded as derivative expense 351,461 Change in fair value included in derivative expense (income) in the statement of operations (736,754 ) Balance at June 30, 2020 $ 177,009 |
Nature of Operations and Summ_4
Nature of Operations and Summary of Significant Accounting and Reporting Policies (Details Narrative) - USD ($) | Jun. 24, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Feb. 06, 2020 | Feb. 04, 2020 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Reverse stock | one-for-five hundred (1:500) | ||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||
Common stock, shares authorized | 100,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 |
Recognized an exchange loss on foreign currency translation | $ 200,673 | $ 709,069 | |||
Cash equivalents | |||||
Value added tax receivable | 2,015 | 5,439 | |||
Research and development costs | 179,987 | 260,335 | |||
Tax credits | $ 134,728 | $ 115,437 | |||
Debt conversion percentage | 4.99% | ||||
Debt conversion percentage, description | Each holder of the notes has agreed to a 4.99% beneficial ownership conversion limitation (subject to certain noteholders' ability to increase such limitation to 9.99% upon 60 days' notice to the Company), | ||||
Share-based Payment Arrangement, Option [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share, amount | 59,644 | 59,644 | |||
Convertible Notes Payable [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share, amount | 11 | 10 | |||
Warrants [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share, amount | 151,170,514 | 59 | |||
Common Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share, amount | 439,113,281 | 1,810,347 | |||
Intercompany Loans [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Recognized an exchange loss on foreign currency translation | $ 133,000 |
Nature of Operations and Summ_5
Nature of Operations and Summary of Significant Accounting and Reporting Policies - Schedule of Translation Exchange Rates (Details) | Jun. 30, 2020 | Jun. 30, 2019 |
USD : AUD exchange rate | 0.6891 | 0.7153 |
Weighted Average [Member] | ||
USD : AUD exchange rate | 0.6742 | 0.7009 |
Nature of Operations and Summ_6
Nature of Operations and Summary of Significant Accounting and Reporting Policies - Schedule of Change in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Accounting Policies [Abstract] | ||
Beginning balance | $ 1,066,998 | $ 357,929 |
Foreign currency translation gain | 200,673 | 709,069 |
Ending balance | $ 1,267,671 | $ 1,066,998 |
Nature of Operations and Summ_7
Nature of Operations and Summary of Significant Accounting and Reporting Policies - Schedule of Property and Equipment Estimated Useful Lives (Details) | 12 Months Ended |
Jun. 30, 2020 | |
Machinery and Equipment [Member] | |
Property and equipment estimated useful lives | 5 years |
Furniture [Member] | |
Property and equipment estimated useful lives | 7 years |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 12 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Revenues | |||
Net loss | (4,740,723) | (5,758,369) | |
Net cash used in operating activities | (1,849,589) | (2,060,037) | |
Working capital deficit | (3,670,921) | ||
Stockholders' deficit | (3,641,425) | (4,301,236) | $ (6,751,920) |
Accumulated deficit | $ (55,781,770) | $ (51,041,047) |
Property and Equipment (Details
Property and Equipment (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 2,473 | $ 2,306 |
Property and Equipment - Schedu
Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 |
Property, Plant and Equipment [Abstract] | ||
Office equipment at cost | $ 26,299 | $ 26,749 |
Less: Accumulated depreciation | (20,552) | (18,332) |
Total property, plant, and equipment | $ 5,747 | $ 8,417 |
Due to Former Director - Rela_2
Due to Former Director - Related Party (Details Narrative) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 |
Related Party Transactions [Abstract] | ||
Due to directors - related parties | $ 30,639 | $ 31,164 |
Loans and Notes Payable (Detail
Loans and Notes Payable (Details Narrative) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 |
Directors and Officer [Member] | ||
Loans payable | $ 50,993 | $ 51,867 |
Convertible Notes (Details Narr
Convertible Notes (Details Narrative) | Mar. 25, 2020USD ($) | Mar. 05, 2020USD ($) | Mar. 03, 2020Integer | Feb. 19, 2020USD ($) | Jan. 22, 2020USD ($) | Jan. 13, 2020USD ($) | Jan. 07, 2020USD ($)Integer | Nov. 26, 2019USD ($)Integer | Nov. 22, 2019USD ($) | Oct. 03, 2019USD ($) | Oct. 02, 2019USD ($) | Sep. 04, 2019USD ($) | Aug. 30, 2019USD ($)$ / sharesshares | Aug. 01, 2019USD ($) | Jul. 30, 2019USD ($) | Jul. 08, 2019USD ($) | Jul. 03, 2019USD ($)Integer | May 23, 2019USD ($)$ / shares | Dec. 24, 2018USD ($)Integer | Nov. 30, 2018USD ($)Integer | Oct. 02, 2018USD ($)Integer | Sep. 12, 2018USD ($) | Sep. 06, 2018USD ($) | Aug. 29, 2018USD ($)Integer | Aug. 28, 2018USD ($)Integer | Jul. 19, 2018USD ($) | Jul. 13, 2018USD ($)Integer | Jun. 29, 2018USD ($)Integer | Jun. 27, 2018USD ($) | Jun. 26, 2018USD ($) | Jun. 14, 2018USD ($) | May 31, 2018USD ($) | May 18, 2018USD ($) | May 15, 2018USD ($)Integer | Apr. 13, 2018USD ($)Integer | Mar. 23, 2018USD ($)Integer | Mar. 12, 2018USD ($) | Mar. 05, 2018USD ($)Integer | Feb. 27, 2018USD ($) | Jan. 29, 2018USD ($) | Jan. 25, 2018USD ($) | Jan. 22, 2018USD ($)Integer | Dec. 29, 2017USD ($)Integer | Dec. 06, 2017USD ($) | Nov. 03, 2017USD ($)Integer$ / shares | Sep. 21, 2017USD ($)Integer | Sep. 14, 2017USD ($) | Aug. 10, 2017USD ($)Integer | Aug. 09, 2017USD ($)Integer | Jul. 24, 2017USD ($)Integer | Jul. 05, 2017USD ($) | Jun. 03, 2017USD ($) | May 04, 2017USD ($) | Apr. 11, 2017USD ($) | Mar. 01, 2017USD ($)Integer | Jan. 27, 2017USD ($)Integer | Dec. 12, 2016USD ($)Integer | Apr. 30, 2020 | Jun. 30, 2020USD ($)$ / shares | Jun. 30, 2019USD ($)$ / shares | Mar. 12, 2020USD ($) | Sep. 10, 2019$ / sharesshares | Aug. 31, 2019$ / sharesshares | Jun. 24, 2019$ / shares | Feb. 25, 2019USD ($) | Nov. 07, 2018USD ($) | Oct. 03, 2018USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) |
Common stock trading volume, percent | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 574,804 | $ 613,003 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | $ 126,667 | $ 131,893 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 1,591,250 | 1,369,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | 50,656,031 | 45,713,322 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | 177,009 | 698,264 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 734,130 | 389,673 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase of common stock, shares | shares | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassified premium amount for additional paid in capital | 836,724 | 767,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
First Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase of common stock, shares | shares | 450,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 2.25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Second Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase of common stock, shares | shares | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 3.33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase of common stock, shares | shares | 225,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 4.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 2018 Coventry Enterprises Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 7,479 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 2018 Coventry Enterprises Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 8,137 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Auctus Fund, LLC [Member] | August 2019 Auctus Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 43,176 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 12, 2016 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Dec. 12, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, term | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | $ 95,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 66,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt outstanding balance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 12, 2016 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | December 12 Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 8,296 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 12, 2016 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | December 12 Eagle Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 13,144 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 27, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 190,000 | $ 230,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Sep. 27, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, term | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 11,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 153,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt outstanding balance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 27, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | January 2017 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 14,988 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 27, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | January 2017 Eagle Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 230,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 33,356 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 1, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 220,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Mar. 1, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 220,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 10,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | $ 210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 147,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt outstanding balance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 1, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | March 2017 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,061 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 1, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | March 2017 Eagle Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 220,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 19,526 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 9, 2017 Securities Purchase Agreement [Member] | August 2017 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 30,568 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 9, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Aug. 8, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, term | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | $ 190,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 133,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt outstanding balance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 9, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | August 2017 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 80,000 | 120,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 6,850 | 5,273 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 25, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jun. 25, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, term | 1 year | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | $ 190,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 133,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt outstanding balance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 25, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | October 2017 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 14,653 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 29, 2017 Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 24,751 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 29, 2017 Securities Purchase Agreement [Member] | December 2017 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | 43,535 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | 171,965 | 171,965 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 29, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | December 2017 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 532,435 | 360,470 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | 354,956 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | $ 25,354 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | 240,313 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 29, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | December 2017 Eagle Note One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 171,965 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | 114,643 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 29, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt outstanding balance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 29, 2017 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | December 2017 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 360,470 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Dec. 29, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 20,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 507,081 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 14, 2018 Securities Purchase Agreement [Member] | July 2018 Coventry Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jun. 29, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 63,934 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 9.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 14, 2018 Securities Purchase Agreement [Member] | First Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 95,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 14, 2018 Securities Purchase Agreement [Member] | Second Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized secured note | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 14, 2018 Securities Purchase Agreement [Member] | Coventry Enterprise Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 14, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt outstanding balance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 14, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | June 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 105,000 | 105,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jun. 14, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 6,674 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | $ 70,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, principal payment | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | For shares of the Company's common stock at a price equal to 60% of the lowest closing bid price of the Company's common stock as reported on the OTC quotation system for the ten prior trading days, including the day upon which the Company receives a notice of conversion from Eagle Equities. However, in the event that the Company's common stock is restricted by the Depository Trust Company ("DTC") for any reason, the Conversion Price shall be lowered to 50% of the lowest closing bid price for the duration of such restriction. If the Company fails to maintain a reserve of shares of its common stock at least four times the number of shares issuable upon conversion of the Note for at least 60 days after the issuance of the Note, the conversion discount shall be increased by 10%. Notwithstanding the foregoing, Eagle Equities shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Eagle Equities and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. The June 2018 Eagle Note was treated as stock settled debt under ASC 480 and accordingly, the Company recorded a $70,000 put premium which was released to additional paid in capital upon conversion of the note as discussed above. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 13, 2018 Securities Purchase Agreement [Member] | July 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,786 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 13, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 13, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | July 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 75,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jul. 13, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 3,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | 9,300 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 71,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | $ 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 29, 2018 Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,788 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | 25,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 29, 2018 Securities Purchase Agreement [Member] | August 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 79,500 | 105,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | 70,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 11,663 | 7,042 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | 17,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 29, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | August 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 105,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Aug. 29, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | 24.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt original issue discount, rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 29, 2018 Securities Purchase Agreement [Member] | Depository Trust Company [Member] | August 29, 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | October 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 210,000 | 0 | 210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Oct. 2, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 140,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 25,725 | 0 | 12,473 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | 210,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | 140,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument principal payment | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2018 Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | October 2018 GS Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 212,000 | 35,820 | 35,820 | $ 106,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Oct. 2, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 61.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 67,771 | 22,901 | 44,690 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,434 | 8,531 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 100,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2018 Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | October 2018 GS Note [Member] | First Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 106,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2018 Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | October 2018 GS Note [Member] | Second Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,601 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 106,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2018 Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | October 2018 GS Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 106,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | 67,770 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 30, 2018 Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 12,832 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | 105,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 30, 2018 Securities Purchase Agreement [Member] | November 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | 67,131 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Additional paid in capital | 67,131 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 30, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | November 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 105,000 | 0 | 105,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Nov. 30, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 61.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | 4,879 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | 24.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt original issue discount, rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument principal payment | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 30, 2018 Securities Purchase Agreement [Member] | Depository Trust Company [Member] | November 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 51.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 24, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | December 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 126,000 | 126,000 | 126,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Dec. 24, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 61.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 80,557 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 15,327 | 5,220 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | 24.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt original issue discount, rate | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument principal payment | $ 6,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 24, 2018 Securities Purchase Agreement [Member] | Depository Trust Company [Member] | December 2018 Eagle Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 51.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 29, 2017, June 14, 2018, July 13, 2018, August 29, 2018, October 2, 2018, November 30, 2018 and December 24, 2018 Securities Purchase Agreement [Member] | Eagle Equities, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 205,500 | 792,965 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 26,990 | 55,675 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 24, 2017 Securities Purchase Agreement [Member] | July 2017 GS Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 160,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Mar. 24, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 62.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 8,169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 24, 2017 Securities Purchase Agreement [Member] | July 2017 GS Note Receivable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 160,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 8,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | 152,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 98,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 24, 2017 Securities Purchase Agreement [Member] | July 2017 GS Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 35,000 | 125,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,829 | 3,420 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 21, 2017 Securities Purchase Agreement [Member] | September 2017 GS Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 160,000 | 130,000 | 30,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Sep. 12, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 62.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 9,695 | 1,289 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 21, 2017 Securities Purchase Agreement [Member] | September 2017 GS Note Receivable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 160,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 8,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | 152,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 21, 2017 Securities Purchase Agreement [Member] | September 2017 GS Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 160,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 98,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 7,119 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 23, 2018 Securities Purchase Agreement [Member] | March 2018 GS Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 160,000 | 106,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Mar. 23, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 62.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,765 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 23, 2018 Securities Purchase Agreement [Member] | March 2018 GS Note Receivable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 106,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 5,300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | 100,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 23, 2018 Securities Purchase Agreement [Member] | March 2018 GS Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 106,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 64,968 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 4,740 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
April 13, 2018 Securities Purchase Agreement [Member] | April 2018 GS Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 150,000 | 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Apr. 13, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 61.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 9,632 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
April 13, 2018 Securities Purchase Agreement [Member] | April 2018 GS Note Receivable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment of notes receivable | $ 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 7,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | 142,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
April 13, 2018 Securities Purchase Agreement [Member] | April 2018 GS Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 95,902 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,606 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2018 Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | October 2018 GS Back-End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 106,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,715 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | 836,724 | 767,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 728,904 | 243,850 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | January 13, 2020 Ader Alef Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 110,250 | 110,250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jan. 13, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | 59,365 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 4,073 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | 5,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | January 13, 2020 Ader Alef Note [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 35.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 120.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | The conversion price for the January 13, 2020 Ader Alef Note during the first 6 months the January 13, 2020 Ader Alef Note is in effect shall be fixed at $2.50 and thereafter shall be equal to a 35% discount of the lowest closing bid price ("Lowest Trading Price") of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, Ader Alef shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Ader Alef and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock which may be increased up to 9.99% upon 60 days prior written notice by the Ader Alef to the Company. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | January 13, 2020 Ader Alef Note [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | October 2018 GS Back End Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,658 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | January 22, 2020 GS Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 58,000 | 58,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jan. 22, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | 38,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,542 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | $ 3,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | The conversion price for the January 22, 2020 GS Capital Note shall be equal to a 40% discount of the lowest closing bid price ("Lowest Trading Price") of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, GS Capital shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by GS Capital and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock which may be increased up to 9.99% upon 60 days prior written notice by the GS Capital to the Company. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | January 22, 2020 GS Note [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 52,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default amount percentage | 112.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GS Capital Partners, LLC [Member] | January 22, 2020 GS Note [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default amount percentage | 130.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Odyssey Capital Funding LLC [Member] | July 2019 Odyssey Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 295,000 | $ 320,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jul. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | 10,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 172,308 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | 23,220 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 285,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | 320,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | 120.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | Common Stock beneficially owned by the Holder and its affiliates would exceed 4.99% of the outstanding shares of the Common Stock of the Company (which may be increased up to 9.9% upon 60 days' prior written notice by the Holder to the Company). | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Auctus Fund, LLC [Member] | August 2019 Auctus Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 550,000 | $ 550,000 | 358,965 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Aug. 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 366,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 486 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 505,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | $ 191,035 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 1.99% | 125.00% | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | Upon the holder's election to convert accrued interest, default interest or any penalty amounts as stipulated, the Company may elect to pay those amounts in cash. The note may also be prepaid by the Company at any time between the date of issuance and August 13, 2020 at 135% multiplied by the sum of (a) the then outstanding principal amount plus (b) accrued and unpaid interest plus (c) default interests, if any. The conversion price for the August 30, 2019 Auctus Note shall be the Variable Conversion Price, being 60% of the Market Price on the date of conversion. Notwithstanding the foregoing, Auctus shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Auctus and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Auctus Fund, LLC [Member] | August 2019 Auctus Note [Member] | First Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase of common stock, shares | shares | 450,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 2.25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Auctus Fund, LLC [Member] | August 2019 Auctus Note [Member] | Second Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase of common stock, shares | shares | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 3.33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Auctus Fund, LLC [Member] | August 2019 Auctus Note [Member] | Third Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants to purchase of common stock, shares | shares | 225,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants exercise price per share | $ / shares | $ 4.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Auctus Fund, LLC [Member] | August 2019 Auctus Note [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 15,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 127,356 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GW Holdings Group, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 101,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 67,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,082 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GW Holdings Group, LLC [Member] | October 1, 2019 GW Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 131,000 | 30,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Oct. 1, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 87,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,776 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 125,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | The conversion price for the October 1, 2019 GW Holdings Note shall be equal to a 40% discount of the lowest closing bid price ("Lowest Trading Price") of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, GW Holdings shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by GW Holdings and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock which may be increased up to 9.99% upon 60 days prior written notice by the GW Holdings to the Company. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument principal payment | $ 6,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GW Holdings Group, LLC [Member] | October 1, 2019 GW Note [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 110.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GW Holdings Group, LLC [Member] | October 1, 2019 GW Note [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Crown Bridge Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 42,720 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Crown Bridge Partners, LLC [Member] | October 3, 2019 GW Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 108,000 | 65,280 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Oct. 3, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 72,000 | 28,480 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 7,232 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 15.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | The conversion price for the October 3, 2019 Crown Bridge Note shall be equal to a 40% discount of the lowest closing bid price ("Lowest Trading Price") of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, Crown Bridge shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Crown Bridge and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock which may be increased up to 9.99% upon 60 days prior written notice by the Crown Bridge to the Company. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument principal payment | $ 3,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Crown Bridge Partners, LLC [Member] | October 3, 2019 GW Note [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 110.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Crown Bridge Partners, LLC [Member] | October 3, 2019 GW Note [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LG Capital Funding, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | $ 40,385 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LG Capital Funding, LLC [Member] | January 13, 2020 Ader Alef Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 75,000 | 75,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Feb. 19, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,164 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | $ 3,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 71,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 24.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LG Capital Funding, LLC [Member] | January 13, 2020 Ader Alef Note [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 112.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 9.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | The conversion price for the February 19, 2020 LG Capital Note during the first 6 months the February 19, 2020 LG Capital Note is in effect shall be fixed at $0.50 and thereafter shall be equal to a 35% discount of the lowest closing bid price ("Lowest Trading Price") of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, LG Capital shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by LG Capital and its affiliates, exceeds 9.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LG Capital Funding, LLC [Member] | January 13, 2020 Ader Alef Note [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 135.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GS Capital Financing Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 141,820 | $ 141,820 | $ 141,820 | $ 141,820 | $ 141,820 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 14,247 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 10, 2017 Consulting Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 10.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 310,000 | 8,500 | 9,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Aug. 10, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 22,168 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion of converted amount | $ 750 | 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 18.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued expenses | 5,248 | 155,000 | $ 155,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 578,212 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 10, 2017 Consulting Agreement [Member] | Consultant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 161,000 | 140,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 19,418 | $ 10,764 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 22, 2018 Securities Purchase Agreement [Member] | January 2018 Power Up Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 153,000 | 153,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jan. 22, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 6,185 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | The conversion price for the January 2018 Power Up Note shall be $32.50, subject to certain Market Price (as defined below) adjustment. If the Market Price is greater than or equal to $50.00, the conversion price shall be the greater of 65% of the Market Price ("Variable Conversion Price") and $32.50. In the event Market Price is less than $50.00, the conversion price shall be the Variable Conversion Price. As defined in the January 2018 Power Up Note, the "Market Price" shall be the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 180,251 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 153,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 5, 2018 Securities Purchase Agreement [Member] | March 2018 Power Up Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 53,000 | $ 53,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Mar. 5, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 2,033 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | The conversion price for the March 2018 Power Up Note shall be $32.50, subject to certain Market Price (as defined below) adjustment. If the Market Price is greater than or equal to $50.00, the conversion price shall be the greater of 65% of the Market Price (the "Variable Conversion Price") and $32.50. In the event Market Price is less than $50.00, the conversion price shall be the Variable Conversion Price. As defined in the March 2018 Power Up Note, the "Market Price" shall be the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 65,231 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 53,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre-payment of interest expenses | 20,362 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
May 15, 2018 Securities Purchase Agreement [Member] | May 2018 Power Up Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 53,000 | $ 53,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | May 5, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 1,696 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | The conversion price for the May 2018 Power Up Note shall be $32.50, subject to certain Market Price (as defined below) adjustment. If the Market Price is greater than or equal to $50.00, the conversion price shall be the greater of 65% of the Market Price ("Variable Conversion Price") and $32.50. In the event Market Price is less than $50.00, the conversion price shall be the Variable Conversion Price. As defined in the May 2018 Power Up Note, the "Market Price" shall be the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up was restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 33,744 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 53,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre-payment of interest expenses | 20,715 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
August 28, 2018 Securities Purchase Agreement [Member] | August 2018 Power Up Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 53,000 | $ 53,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Aug. 28, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default amount percentage | 22.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | Any amount of the principal face amount of the August 2018 Power Up Note, starting on February 24, 2019 at a conversion price of shall be $32.50, subject to certain Market Price (as defined below) adjustment. If the Market Price is greater than or equal to $50.00, the conversion price shall be the greater of 65% of the Market Price ("Variable Conversion Price") and $32.50. In the event Market Price is less than $50.00, the conversion price shall be the Variable Conversion Price. As defined in the August 2018 Power Up Note, the "Market Price" shall be the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 396,380 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 53,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre-payment of interest expenses | $ 500 | 22,047 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 3, 2019 Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 78,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 3,120 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
July 3, 2019 Securities Purchase Agreement [Member] | July 3, 2019 Power Up Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 78,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jul. 3, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default amount percentage | 22.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | The conversion price for the July 3, 2019 Power Up Note shall be $3.25, subject to certain Market Price (as defined below) adjustment. If the Market Price is greater than or equal to $5.00, the conversion price shall be the greater of 65% of the Market Price ("Variable Conversion Price") and $3.25. In the event Market Price is less than $5.00, the conversion price shall be the Variable Conversion Price. As defined in the July 3, 2019 Power Up Note, the "Market Price" shall be the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 155,904 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 78,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 26, 2019 Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 43,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,720 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
November 26, 2019 Securities Purchase Agreement [Member] | November 26, 2019 Power Up Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 43,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Nov. 26, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default amount percentage | 22.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | The conversion price for the November 26, 2019 Power Up Note shall be $3.05, subject to certain Market Price (as defined below) adjustment. If the Market Price is greater than or equal to $5.00, the conversion price shall be the greater of 65% of the Market Price ("Variable Conversion Price") and $3.05. In the event Market Price is less than $5.00, the conversion price shall be the Variable Conversion Price. As defined in the November 26, 2019 Power Up Note, the "Market Price" shall be the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 52,222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
January 7, 2020 Power Up Lending Group Securities Purchase Agreement [Member] | January 7, 2020 Power Up Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 75,000 | 75,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jan. 7, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 2,869 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default amount percentage | 22.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | The conversion price for the January 7, 2020 Power Up Note shall be $3.05, subject to certain Market Price (as defined below) adjustment. If the Market Price is greater than or equal to $5.00, the conversion price shall be the greater of 65% of the Market Price ("Variable Conversion Price") and $3.05. In the event Market Price is less than $5.00, the conversion price shall be the Variable Conversion Price. As defined in the January 7, 2020 Power Up Note, the "Market Price" shall be the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 314,406 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 72,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 12, 2020 Power Up Lending Group Securities Purchase Agreement [Member] | March 12, 2020 Power Up Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 43,000 | $ 43,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Mar. 12, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading days | Integer | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 1,034 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 150.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt default amount percentage | 22.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion, description | The conversion price for the March 12, 2020 Power Up Note shall be $3.05, subject to certain Market Price (as defined below) adjustment. If the Market Price is greater than or equal to $5.00, the conversion price shall be the greater of 65% of the Market Price ("Variable Conversion Price") and $3.05. In the event Market Price is less than $5.00, the conversion price shall be the Variable Conversion Price. As defined in the March 12, 2020 Power Up Note, the "Market Price" shall be the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the "pink sheets" during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up shall be restricted from effecting a conversion if such conversion, along with other shares of the Company's common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company's common stock. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 55,929 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 40,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diligence fees | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 26, 2018 Securities Purchase Agreement [Member] | June 2018 JSJ Note [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 113,000 | $ 113,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | Jun. 26, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceed from note receivable net | $ 110,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt premium amount | $ 60,846 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 4,508 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | The Company had the right to prepay the June 2018 JSJ Note until December 23, 2018. If the June 2018 JSJ Note was prepaid within 90 days of the issuance date, then the prepayment premium shall be 135% of the face amount plus any accrued interest; if the JSJ Note was prepaid after 90 days from the issuance date, but prior to 121 days from the issuance date, then the prepayment premium shall be 140% of the face amount plus any accrued interest; and if the June 2018 JSJ Note was prepaid after 120 days from the issuance date, but prior to 180 days from the issuance date, then the prepayment premium shall be 145% of the face amount plus any accrued interest. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument principal payment | $ 3,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepayment penalty | 51,380 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redstart Holdings Corp Financing Agreement [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | 133,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 5,320 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redstart Holdings Corp Financing Agreement [Member] | Redstart Holdings Note [Member] | November 19, 2019 [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock trading volume, percent | 65.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, default, interest rate | 22.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, description | The Company had the right to prepay the May 2019 Redstart Holdings Note until November 19, 2019. If the May 2019 Redstart Holdings Note was prepaid within 90 days of the issuance date, then the prepayment premium shall be 115% of the face amount plus any accrued interest; if the May 2019 Redstart Holdings Note was prepaid after 91 days from the issuance date, but prior to 121 days from the issuance date, then the prepayment premium shall be 120% of the face amount plus any accrued interest; and if the May 2019 Redstart Holdings Note was prepaid after 121 days from the issuance date, but prior to 150 days from the issuance date, then the prepayment premium shall be 125% of the face amount plus any accrued interest; and if the May 2019 Redstart Holdings Note was prepaid after 151 days from the issuance date, but prior to 180 days from the issuance date, then the prepayment premium shall be 129% of the face amount plus any accrued interest. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Embedded derivative, fair value of embedded derivative liability | $ 166,564 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion price, per share | $ / shares | $ 32.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument market price per share | $ / shares | $ 50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redstart Holdings Corp Financing Agreement [Member] | Redstart Holdings Corp [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 8.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Convertible debt principal amount | $ 133,000 | 0 | 133,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt maturity date | May 23, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ 3,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 1,137 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 130,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of outstanding shares of common stock | 4.99% |
Convertible Notes - Schedule of
Convertible Notes - Schedule of Convertible Notes (Details) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 |
Debt Disclosure [Abstract] | ||
Convertible notes and debenture | $ 1,029,496 | $ 1,076,785 |
Unamortized discounts | (126,667) | (131,893) |
Accrued interest | 80,101 | 99,482 |
Premium, net | 574,804 | 613,003 |
Convertible notes, net | $ 1,557,734 | $ 1,657,377 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | ||
Jun. 30, 2020 | Mar. 27, 2020 | Jun. 30, 2019 | |
Income tax percentage | 21.00% | 21.00% | |
Income tax benefit | $ (134,728) | $ (115,437) | |
Unrecognized tax benefits | |||
Changes in unrecognized tax benefits | |||
U.S [Member] | |||
Net operating loss carry forwards | 8,977,683 | ||
Australia [Member] | |||
Net operating loss carry forwards | 20,194,901 | ||
Income tax benefit | |||
CARES Act [Member] | |||
Income tax percentage description | The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax Provision (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | ||
Taxes under statutory US tax rates | $ (995,552) | $ (1,209,258) |
Increase (decrease) in valuation allowance | 1,137,716 | 1,394,444 |
Prior period adjustment | (14,624) | |
Foreign tax rate differential | (128,492) | (186,286) |
Other | 952 | 1,100 |
Income tax (expense) benefit | $ (134,728) | $ (115,437) |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 |
Income Tax Disclosure [Abstract] | ||
Warrant Derivative Liability | $ 7,403 | $ 7,403 |
Accrued Expenses | 297,086 | 198,193 |
Prepaid Investor Services | 470,050 | 414,396 |
Non-cash interest | 596,004 | |
Intangibles (Intellectual Property and Patent Cost) | 240,428 | 212,881 |
Deferred Rent | 1,969 | |
Formation Expense | 7,208 | 7,208 |
Net Operating Loss carry forward | 7,438,911 | 6,573,215 |
Foreign Exchange Loss (OCI) | (39,379) | (39,379) |
Revalue of derivative liability | 438,239 | 519,151 |
Stock Based Compensation | 51,481 | 51,481 |
Total Deferred tax assets | 9,509,400 | 7,944,549 |
R&D | (177,702) | (139,833) |
Gain on extinguishment of debt | (266,987) | |
Capital Raising Costs | (255,614) | (133,335) |
Total deferred tax liabilities | (700,303) | (273,168) |
Net deferred tax assets | 8,809,097 | 7,671,381 |
Valuation allowance | (8,809,097) | (7,671,381) |
Net deferred taxes |
Stockholders' Deficit (Details
Stockholders' Deficit (Details Narrative) | Sep. 18, 2020USD ($) | Jul. 22, 2020USD ($)shares | Jun. 26, 2020USD ($)$ / sharesshares | Apr. 03, 2020USD ($)$ / sharesshares | Mar. 20, 2020Integer$ / sharesshares | Feb. 03, 2020USD ($)$ / sharesshares | Sep. 10, 2019USD ($)$ / sharesshares | Jul. 19, 2019USD ($)$ / sharesshares | Jun. 24, 2019$ / sharesshares | May 08, 2019shares | Feb. 25, 2019USD ($)$ / sharesshares | Dec. 27, 2018USD ($)$ / sharesshares | Dec. 02, 2018shares | Nov. 28, 2018USD ($)$ / sharesshares | Nov. 20, 2018shares | Oct. 05, 2018USD ($)$ / sharesshares | Aug. 29, 2018USD ($)shares | May 31, 2019USD ($)$ / sharesshares | May 31, 2019USD ($)$ / sharesshares | Mar. 31, 2019USD ($)$ / sharesshares | Sep. 28, 2020USD ($)$ / shares | May 20, 2019shares | May 02, 2019shares | Dec. 20, 2019shares | Jun. 30, 2020USD ($)$ / sharesshares | Jun. 30, 2019USD ($)$ / sharesshares | Feb. 06, 2020shares | Feb. 04, 2020shares | Aug. 31, 2019$ / sharesshares | May 14, 2019shares | Dec. 09, 2014shares |
Reverse stock split | one-for-five hundred (1:500) | ||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||||
Common stock, shares authorized | 100,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | ||||||||||||||||||||||||||
Preferred stock, shares authorized | 1,500,005 | 1,500,005 | 500,000 | ||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.01 | $ 0.01 | |||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 450,000 | $ 1,100,380 | |||||||||||||||||||||||||||||
Warrants to purchase common stock | 1,000,000 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 2 | ||||||||||||||||||||||||||||||
Fair value of warrants | $ | $ 984,810 | ||||||||||||||||||||||||||||||
Number of restricted stock, shares | 78,000 | ||||||||||||||||||||||||||||||
Loss on extinguishment | $ | 67,123 | 1,204,242 | |||||||||||||||||||||||||||||
Share based compensation | $ | $ 300,416 | ||||||||||||||||||||||||||||||
Option term | 8 years 8 months 19 days | ||||||||||||||||||||||||||||||
Stock price | $ / shares | $ 0.0039 | ||||||||||||||||||||||||||||||
Proceeds from warrants exercise | $ | $ 30 | ||||||||||||||||||||||||||||||
Warrants expired | 27 | 208 | |||||||||||||||||||||||||||||
Warrant expiration date | Sep. 10, 2022 | ||||||||||||||||||||||||||||||
Warrants exercisable | 24 | ||||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00096 | ||||||||||||||||||||||||||||||
Conversion of principal and interest, aggregate amount | $ | $ 57,671 | ||||||||||||||||||||||||||||||
Accrued interest | $ | $ 1,705 | ||||||||||||||||||||||||||||||
Proceeds from warrants exercise | $ | $ 101,045 | ||||||||||||||||||||||||||||||
2019 Equity Incentive Plan [Member] | |||||||||||||||||||||||||||||||
Number of common shares reserved for future issuance | 234,000 | ||||||||||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||||||||||||||||||||||
Number of restricted stock, shares | 117,000 | ||||||||||||||||||||||||||||||
Granted exercise price | $ / shares | $ 4.25 | ||||||||||||||||||||||||||||||
Share based compensation arrangement by share based payment award options grant date fair value | $ | $ 497,240 | ||||||||||||||||||||||||||||||
Share based compensation | $ | $ 217,543 | $ 31,077 | |||||||||||||||||||||||||||||
Unrecognized restricted stock units expense | $ | $ 248,620 | ||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 2,000 | 24 | 804,518 | ||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 30,000 | ||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 15 | ||||||||||||||||||||||||||||||
Stock issued for services, shares | 8,728,574 | 16,000 | |||||||||||||||||||||||||||||
Common Stock [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Conversion fees | $ | $ 6,750 | ||||||||||||||||||||||||||||||
Warrants [Member] | |||||||||||||||||||||||||||||||
Share based compensation | $ | $ 984,810 | ||||||||||||||||||||||||||||||
Proceeds from warrants exercise | $ | $ 39 | ||||||||||||||||||||||||||||||
Warrants expired | 208 | ||||||||||||||||||||||||||||||
First Warrant [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 450,000 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 2.25 | ||||||||||||||||||||||||||||||
Second Warrant [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 300,000 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 3.33 | ||||||||||||||||||||||||||||||
Third Warrant [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 225,000 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 4.50 | ||||||||||||||||||||||||||||||
Consultant [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 4,000 | 4,000 | |||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 39,000 | ||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 10 | ||||||||||||||||||||||||||||||
Consulting expenses | $ | $ 39,000 | ||||||||||||||||||||||||||||||
Board of Directors [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 2,000 | ||||||||||||||||||||||||||||||
First Tranche [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 10,000 | 10,000 | |||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 100,000 | ||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 10 | ||||||||||||||||||||||||||||||
Consulting expenses | $ | $ 100,000 | ||||||||||||||||||||||||||||||
Stock issued for services, shares | 10,000 | ||||||||||||||||||||||||||||||
Second Tranche [Member] | |||||||||||||||||||||||||||||||
Stock issued for services, shares | 6,000 | ||||||||||||||||||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||
Number of restricted stock, shares | 39,000 | ||||||||||||||||||||||||||||||
Maximum [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.0020 | ||||||||||||||||||||||||||||||
Minimum [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.00056 | ||||||||||||||||||||||||||||||
October 5, 2018 Equity Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 113,200 | ||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 964,009 | ||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 8.50 | ||||||||||||||||||||||||||||||
Amortization expense | $ | $ 333,059 | ||||||||||||||||||||||||||||||
October 5, 2018 Equity Purchase Agreement [Member] | Investor [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 7,701 | ||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 41.30 | ||||||||||||||||||||||||||||||
Deferred offing costs | $ | $ 318,059 | ||||||||||||||||||||||||||||||
Legal fees | $ | 15,000 | ||||||||||||||||||||||||||||||
October 5, 2018 Equity Purchase Agreement [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 10,000,000 | ||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 20 | ||||||||||||||||||||||||||||||
October 5, 2018 Equity Purchase Agreement [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 6.50 | ||||||||||||||||||||||||||||||
Equity Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 0.05 | ||||||||||||||||||||||||||||||
Equity purchase agreement description | Upon filing and effectiveness of the Company's Registration Statement on Form S-1, which was declared effective by the SEC on October 30, 2018, and provided other closing conditions are met, from time to time over the term of the Purchase Agreement, the Company had the right, but not the obligation, to direct the Investor to purchase shares of the Company's common stock (the "L2 Put Shares") in a maximum amount of $1,000,000, provided that the number of L2 Put Shares did not exceed 250% of the Average Daily Trading Volume (as defined in the L2 Purchase Agreement). At any time and from time to time during the 3-year term of the L2 Purchase Agreement (the "Commitment Period"), the Company had the right to deliver a notice L2 Capital (the "L2 Put Notice") and was obligated to deliver the Put Shares to Investor via DWAC (as defined in the L2 Purchase Agreement) within two trading days. The purchase price (the "L2 Purchase Price") for the Put Shares was 87.5% of the one lowest daily volume weighted average price on the Principal Market (as defined in the L2 Purchase Agreement) (as reported by Bloomberg Finance L.P.) during the five trading days immediately following the date L2 Capital receives the L2 Put Shares via DWAC associated with the applicable Put Notice (the "L2 Valuation Period"). The closing of a Put Notice occurred within one trading day following the end of the respective L2 Valuation Period, whereby (i) L2 Capital was obligated to deliver the L2 Investment Amount (as defined below) to the Company by wire transfer of immediately available funds and (ii) L2 Capital was obligated to return surplus L2 Put Shares if the value of the L2 Put Shares delivered to L2 Capital caused the Company to exceed the maximum commitment amount. The Company could not deliver another L2 Put Notice to L2 Capital within ten trading days of a prior Put Notice. The "L2 Investment Amount" means the aggregate L2 Purchase Price for the L2 Put Shares purchased by L2 Capital, minus clearing costs due to L2 Capital's broker or to the Company's transfer agent for the issuance of the L2 Put Shares (the "L2 Clearing Costs").The right of the Company to issue and sell the L2 Put Shares to L2 Capital was subject to the satisfaction of certain closing conditions, including, but not limited to, (i) the Company's Registration Statement on Form S-1 registering for resale by the Investor of the L2 Put Shares and Commitment Shares continuing to be effective as was declared by the U.S. Securities and Exchange Commission (the "SEC") on October 30, 2018, (ii) accuracy of the Company's representations and warranties, (iii) the Company's performance under the L2 Purchase Agreement in all material respects, (iv) no suspension of trading or delisting of the Company's common stock, (v) limitation of L2 Capital's beneficial ownership to no more than 9.99%, (vi) the Company maintaining its DWAC-eligible status, (vii) the Company maintaining a sufficient share reserve, and (viii) the minimum pricing for the L2 Put Shares must exceed $.0.05. | ||||||||||||||||||||||||||||||
Equity ownership percentage | 9.99% | ||||||||||||||||||||||||||||||
Average trading percentage of common stock | 5.00% | ||||||||||||||||||||||||||||||
Divided stock value | $ | $ 5,000 | ||||||||||||||||||||||||||||||
Number of common shares reserved for future issuance | 924,143 | ||||||||||||||||||||||||||||||
February 25, 2019 Equity Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 34,000 | ||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 10,000,000 | $ 136,371 | |||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 0.05 | $ 4.01 | |||||||||||||||||||||||||||||
Equity purchase agreement description | Upon filing and effectiveness of the Company's Registration Statement on Form S-1, which was declared effective by the SEC on March 7, 2019, and provided other closing conditions are met, from time to time over the term of the Purchase Agreement, the Company has the right, but not the obligation, to direct the Investor to purchase shares of the Company's common stock (the "Put Shares") in a maximum amount of $1,000,000, provided that the number of Put Shares did not exceed 250% of the Average Daily Trading Volume (as defined in the Purchase Agreement). At any time and from time to time during the 3-year term of the Purchase Agreement (the "Commitment Period"), the Company has the right to deliver a notice to the Investor (the "Put Notice") and is obligated to deliver the Put Shares to Investor via DWAC (as defined in the Purchase Agreement) within two trading days. The purchase price (the "Purchase Price") for the Put Shares was 87.5% of the one lowest daily volume weighted average price on the Principal Market (as defined in the Purchase Agreement) (as reported by Bloomberg Finance L.P.) during the five trading days immediately following the date the Investor receives the Put Shares via DWAC associated with the applicable Put Notice (the "Valuation Period"). The closing of a Put Notice occurs within one trading day following the end of the respective Valuation Period, whereby (i) the Investor is obligated to deliver the Investment Amount (as defined below) to the Company by wire transfer of immediately available funds and (ii) the Investor is obligated to return surplus Put Shares if the value of the Put Shares delivered to the Investor causes the Company to exceed the maximum commitment amount. The Company cannot deliver another Put Notice to the Investor within ten trading days of a prior Put Notice. The "Investment Amount" means the aggregate Purchase Price for the Put Shares purchased by the Investor, minus clearing costs due to the Investor's broker or to the Company's transfer agent for the issuance of the Put Shares (the "Clearing Costs"). The right of the Company to issue and sell the Put Shares to the Investor is subject to the satisfaction of certain closing conditions, including, but not limited to, (i) the Company's Registration Statement on Form S-1 registering for resale by the Investor of the Put Shares continuing to be effective as was declared by the SEC on March 7, 2019, (ii) accuracy of the Company's representations and warranties, (iii) the Company's performance under the Purchase Agreement in all material respects, (iv) no suspension of trading or delisting of the Company's common stock, (v) limitation of the Investor's beneficial ownership to no more than 9.99%, (vi) the Company maintaining its DWAC-eligible status, (vii) the Company maintaining a sufficient share reserve, and (viii) the minimum pricing for the Put Shares must exceed $0.05. | ||||||||||||||||||||||||||||||
Equity ownership percentage | 9.99% | ||||||||||||||||||||||||||||||
Number of common shares reserved for future issuance | 1,333,333 | ||||||||||||||||||||||||||||||
February 25, 2019 Equity Purchase Agreement [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | 4.90 | ||||||||||||||||||||||||||||||
February 25, 2019 Equity Purchase Agreement [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 3.06 | ||||||||||||||||||||||||||||||
April 3, 2020 Security Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 247,619,247 | 704,258 | |||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 2,125,174 | $ 3,350,783 | |||||||||||||||||||||||||||||
Equity purchase agreement description | The Company closed on a transaction related to a Securities Purchase Agreement (the "Securities Purchase Agreement") entered into on March 30, 2020, whereby an investor (the "Investor") purchased from the Company, 7,500,000 units (the "Units"), each consisting of (i) 1.5 shares of the Company's common stock (the "Common Stock"), or pre-funded warrants (the "Prefunded Warrants") upon Investor's election due to the 4.99% blocker provision as discussed below and (ii) 1.5 warrants to purchase one share of Common Stock ("Series A Warrants"), along with such purchaser's pro-rata portion of the Series B Warrants and Series C Warrants ("the Units"). | ||||||||||||||||||||||||||||||
Equity ownership percentage | 4.99% | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.06 | ||||||||||||||||||||||||||||||
Fair value of warrants | $ | $ 450,000 | ||||||||||||||||||||||||||||||
Proceeds from warrants | $ | 424,990 | ||||||||||||||||||||||||||||||
Net offering cost | $ | $ 25,010 | ||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.007 | $ 4.76 | |||||||||||||||||||||||||||||
Conversion of principal and interest, aggregate amount | $ | $ 1,814,336 | $ 3,350,783 | |||||||||||||||||||||||||||||
Premiums to additional paid in capital | $ | 874,924 | $ 1,824,317 | |||||||||||||||||||||||||||||
Conversion fees | $ | 15,000 | ||||||||||||||||||||||||||||||
Conversion option derivatives | $ | 254,500 | ||||||||||||||||||||||||||||||
Accrued interest | $ | 15,408 | ||||||||||||||||||||||||||||||
Fair market value of the shares | $ | 565,746 | ||||||||||||||||||||||||||||||
Loss on extinguishment | $ | 295,838 | ||||||||||||||||||||||||||||||
Derivative fair value | $ | $ 362,961 | ||||||||||||||||||||||||||||||
April 3, 2020 Security Purchase Agreement [Member] | Restricted Common Stock [Member] | |||||||||||||||||||||||||||||||
Number of restricted stock, shares | 804,518 | ||||||||||||||||||||||||||||||
April 3, 2020 Security Purchase Agreement [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 11,250,000 | ||||||||||||||||||||||||||||||
April 3, 2020 Security Purchase Agreement [Member] | Prefunded Warrants [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 10,445,482 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.0001 | ||||||||||||||||||||||||||||||
April 3, 2020 Security Purchase Agreement [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.91 | $ 14.97 | |||||||||||||||||||||||||||||
April 3, 2020 Security Purchase Agreement [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.002 | $ 0.61 | |||||||||||||||||||||||||||||
Underlying Financing Agreements [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 739,138,743 | ||||||||||||||||||||||||||||||
Consulting Agreement [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 20,000 | ||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 39,800 | ||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 1.99 | ||||||||||||||||||||||||||||||
Consulting expenses | $ | $ 39,800 | ||||||||||||||||||||||||||||||
Engagement Agreement [Member] | Consultant [Member] | |||||||||||||||||||||||||||||||
Common stock, par value | $ / shares | $ 0.008 | $ 0.008 | |||||||||||||||||||||||||||||
Consulting expenses | $ | $ 73,842 | $ 73,842 | 73,842 | ||||||||||||||||||||||||||||
Stock issued for services, shares | 8,708,574 | 8,708,574 | |||||||||||||||||||||||||||||
Employment Agreements [Member] | |||||||||||||||||||||||||||||||
Share issued price per share | $ / shares | $ 4.25 | $ 4.25 | |||||||||||||||||||||||||||||
Number of options granted | 58,500 | ||||||||||||||||||||||||||||||
Option term | 10 years | ||||||||||||||||||||||||||||||
Stock price | $ / shares | 4.25 | $ 4.25 | |||||||||||||||||||||||||||||
Exercise price | $ / shares | $ 4.65 | $ 4.65 | |||||||||||||||||||||||||||||
Dividend yield | 0.00% | ||||||||||||||||||||||||||||||
Years to maturity | 10 years | ||||||||||||||||||||||||||||||
Risk free rate | 2.42% | ||||||||||||||||||||||||||||||
Expected volatility | 268.00% | ||||||||||||||||||||||||||||||
Fair value of options | $ | $ 248,620 | ||||||||||||||||||||||||||||||
Stock option expense | $ | 82,873 | $ 10,360 | |||||||||||||||||||||||||||||
Unvested stock options expense | $ | $ 155,387 | ||||||||||||||||||||||||||||||
Vesting period | 1 year 10 months 6 days | ||||||||||||||||||||||||||||||
Employment Agreements [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||
Number of options granted | 39,000 | ||||||||||||||||||||||||||||||
Employment Agreements [Member] | Chief Scientific Officer [Member] | |||||||||||||||||||||||||||||||
Number of options granted | 19,500 | ||||||||||||||||||||||||||||||
Employment Agreements [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Granted exercise price | $ / shares | $ 4.675 | ||||||||||||||||||||||||||||||
Employment Agreements [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||
Granted exercise price | $ / shares | $ 4.25 | ||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Equity purchase agreement description | The Company closed on a transaction related to a Securities Purchase Agreement (the "Securities Purchase Agreement") entered into on March 30, 2020, whereby an investor purchased from the Company, 7,500,000 units, each consisting of (i) 1.5 shares of the Company's common stock, or pre-funded warrants upon Investor's election due to the 4.99% blocker provision and (ii) 1.5 warrants to purchase one share of Common Stock | ||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Prefunded Warrants [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 10,445,482 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.001 | ||||||||||||||||||||||||||||||
Proceeds from warrants exercise | $ | 1,045 | ||||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | |||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 500,000 | 500,000 | |||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.01 | $ 0.01 | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 500,000 | 500,000 | |||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 500,000 | 500,000 | |||||||||||||||||||||||||||||
Common stock issued during period | |||||||||||||||||||||||||||||||
Stock issued for services, shares | |||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 5 | 5 | |||||||||||||||||||||||||||||
Preferred stock, par value | $ / shares | $ 0.01 | $ 0.01 | |||||||||||||||||||||||||||||
Preferred stock, shares issued | 1 | 1 | |||||||||||||||||||||||||||||
Preferred stock, shares outstanding | 1 | 1 | |||||||||||||||||||||||||||||
Common stock issued during period | |||||||||||||||||||||||||||||||
Stock issued for services, shares | |||||||||||||||||||||||||||||||
Series B Warrants [Member] | April 3, 2020 Security Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 63,750,000 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.20 | ||||||||||||||||||||||||||||||
Series B Warrants [Member] | Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 63,750,000 | 3,750,000 | |||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.04 | ||||||||||||||||||||||||||||||
Warrants expiration period | 3 years | ||||||||||||||||||||||||||||||
Series B Warrants [Member] | Securities Purchase Agreement [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||||||
Proceeds from warrants exercise | $ | $ 100,000 | ||||||||||||||||||||||||||||||
Warrants exercisable | 2,500,000 | ||||||||||||||||||||||||||||||
Series B Warrants [Member] | Securities Purchase Agreement [Member] | Investor [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 63,750,000 | ||||||||||||||||||||||||||||||
Warrants exercisable | 37,500,000 | ||||||||||||||||||||||||||||||
Trading days | Integer | 10 | ||||||||||||||||||||||||||||||
Series B Warrants [Member] | Securities Purchase Agreement [Member] | Holder [Member] | |||||||||||||||||||||||||||||||
Common stock issued during period | 3,750,000 | ||||||||||||||||||||||||||||||
Series C Warrants [Member] | April 3, 2020 Security Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 63,750,000 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.04 | ||||||||||||||||||||||||||||||
Series C Warrants [Member] | Securities Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 63,750,000 | ||||||||||||||||||||||||||||||
Series C Warrants [Member] | Securities Purchase Agreement [Member] | Investor [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 63,750,000 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.20 | ||||||||||||||||||||||||||||||
Warrants expiration period | 3 years | ||||||||||||||||||||||||||||||
Series A Warrants [Member] | April 3, 2020 Security Purchase Agreement [Member] | |||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.20 | ||||||||||||||||||||||||||||||
Series A Warrants [Member] | Securities Purchase Agreement [Member] | Investor [Member] | |||||||||||||||||||||||||||||||
Warrants to purchase common stock | 11,250,000 | ||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 0.20 | ||||||||||||||||||||||||||||||
Warrants expiration period | 3 years |
Stockholders' Deficit - Schedul
Stockholders' Deficit - Schedule of Stock Option Activity (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Equity [Abstract] | ||
Number of Shares, Outstanding, Beginning balance | 59,644 | 1,144 |
Number of Shares, Issued | 58,500 | |
Number of Shares, Exercised | ||
Number of Shares, Forfeited | ||
Number of Shares, Expired | ||
Number of Shares, Outstanding, Ending balance | 59,644 | 59,644 |
Number of Shares, Exercisable, Ending balance | 20,644 | |
Weighted Average Price Per Share, Outstanding, Beginning balance | $ 76.37 | $ 3,750 |
Weighted Average Price Per Share, Issued | 4.53 | |
Weighted Average Price Per Share, Exercised | ||
Weighted Average Price Per Share, Forfeited | ||
Weighted Average Price Per Share, Expired | ||
Weighted Average Price Per Share, Outstanding, Ending balance | 76.37 | $ 76.37 |
Weighted Average Price Per Share, Exercisable, Ending balance | $ 212.09 | |
Weighted average remaining contractual term | 8 years 8 months 19 days | |
Weighted average fair value of options granted during the period | 0 years | |
Aggregate intrinsic value |
Stockholders' Deficit - Sched_2
Stockholders' Deficit - Schedule of Option Exercise Price Range (Details) - USD ($) | 12 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2018 | |
Number of Shares Options Outstanding | 59,644 | 59,644 | 1,144 |
Weighted Average Remaining Contractual Life, Options | 8 years 8 months 19 days | ||
Weighted Average Exercise Price, Options | $ 76.37 | $ 76.37 | $ 3,750 |
Aggregate Intrinsic Value, Options | |||
Number of Shares Options Exercisable | 20,644 | ||
Weighted Average Exercise Price, Options exercisable | $ 212.09 | ||
Aggregate Intrinsic Value, Options Exercisable | |||
Exercise Price Range One [Member] | |||
Range of Exercise Price, Minimum | $ 4.25 | ||
Range of Exercise Price, Maximum | $ 4.68 | ||
Number of Shares Options Outstanding | 58,500 | ||
Weighted Average Remaining Contractual Life, Options | 8 years 10 months 17 days | ||
Weighted Average Exercise Price, Options | $ 4.53 | ||
Aggregate Intrinsic Value, Options | |||
Number of Shares Options Exercisable | 19,500 | ||
Weighted Average Exercise Price, Options exercisable | $ 4.50 | ||
Aggregate Intrinsic Value, Options Exercisable | |||
Exercise Price Range Two [Member] | |||
Range of Exercise Price, Minimum | $ 3,750 | ||
Number of Shares Options Outstanding | 1,144 | ||
Weighted Average Remaining Contractual Life, Options | 9 months 14 days | ||
Weighted Average Exercise Price, Options | $ 3,750 | ||
Aggregate Intrinsic Value, Options | |||
Number of Shares Options Exercisable | 1,144 | ||
Weighted Average Exercise Price, Options exercisable | $ 3,750 | ||
Aggregate Intrinsic Value, Options Exercisable |
Stockholders' Deficit - Sched_3
Stockholders' Deficit - Schedule of Warrant Activity (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Equity [Abstract] | ||
Number of Shares, Outstanding, Beginning balance | 59 | 291 |
Number of Shares, Issued | 151,170,482 | |
Number of Shares, Exercised | (24) | |
Number of Shares, Forfeited | ||
Number of Shares, Expired | (27) | (208) |
Number of Shares, Outstanding, Ending balance | 151,170,514 | 59 |
Number of Shares, Exercisable, Ending balance | 151,170,482 | |
Weighted Average Price Per Share, Outstanding, Beginning balance | $ 4,765 | $ 5,555 |
Weighted Average Price Per Share, Issued | 0.15 | |
Weighted Average Price Per Share, Exercised | ||
Weighted Average Price Per Share, Forfeited | ||
Weighted Average Price Per Share, Expired | ||
Weighted Average Price Per Share, Outstanding, Ending balance | 0.15 | $ 4,765 |
Weighted Average Price Per Share, Exercisable, Ending balance | $ 0.15 | |
Weighted average remaining contractual term | 2 years 9 months 3 days | |
Aggregate intrinsic value | $ 30,292 |
Commitments and Contingencies_2
Commitments and Contingencies (Details Narrative) | Sep. 26, 2019USD ($) | Sep. 13, 2018USD ($) | Sep. 13, 2018EUR (€) | Aug. 12, 2016USD ($) | May 05, 2016USD ($) | May 05, 2016AUD ($) | May 31, 2017USD ($) | Jun. 30, 2012 | Jun. 30, 2020USD ($)shares | Jun. 30, 2020EUR (€)shares | Jun. 30, 2019USD ($) | Jun. 30, 2019EUR (€) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jul. 02, 2019USD ($) |
Penalty amount | $ 30,000 | ||||||||||||||
Right-of-use assets | 21,682 | ||||||||||||||
Total lease liabilities | 25,072 | ||||||||||||||
Payment for services | 17,331 | 36,117 | |||||||||||||
Royalties percentage | 2.00% | 2.00% | |||||||||||||
Accounting Standards Update 2016-02 [Member] | |||||||||||||||
Right-of-use assets | $ 48,662 | ||||||||||||||
Total lease liabilities | $ 48,662 | ||||||||||||||
Incremental borrowing rate | 6.00% | ||||||||||||||
Euros [Member] | |||||||||||||||
Payment for services | € | € 15,410 | € 31,754 | |||||||||||||
Royalty Agreement Terms [Member] | |||||||||||||||
Operating leases income statement revenue percentage | 2.00% | ||||||||||||||
License Agreement Terms [Member] | |||||||||||||||
Operating leases income statement revenue percentage | 5.00% | ||||||||||||||
New Five-Year Operating Lease Agreement [Member] | |||||||||||||||
Operating lease term | 5 years | 5 years | |||||||||||||
Payments for rent | $ 2,431 | ||||||||||||||
Lease description | The initial rental amount was $3,000 AUD subject to a 3% yearly escalation. | The initial rental amount was $3,000 AUD subject to a 3% yearly escalation. | |||||||||||||
New Five-Year Operating Lease Agreement [Member] | AUD Currency [Member] | |||||||||||||||
Payments for rent | $ 3,606 | ||||||||||||||
Manufacturing Services Agreement [Member] | Minimum [Member] | |||||||||||||||
Anticipated milestone payment | $ 2,500,000 | ||||||||||||||
Manufacturing Services Agreement [Member] | Maximum [Member] | |||||||||||||||
Anticipated milestone payment | $ 5,000,000 | ||||||||||||||
Amatsigroup Agreement [Member] | |||||||||||||||
Payments description | The Company anticipates that its payments to Amatsigroup under the MSA will range between $2.5 million and $5.0 million over three years, when the finished drug product is manufactured and released for clinical trials. The Company has spent a total of $1,689,146 of costs to date under this contract of which $49,854 was expensed in fiscal 2019, $701,973 in fiscal 2018 and $937,319 in fiscal 2017. The MSA expired in 2019 and may be extended by mutual agreement in writing with a possible extension currently under consideration. | ||||||||||||||
Contract cost | 1,689,146 | $ 49,854 | $ 701,973 | $ 937,319 | |||||||||||
One-Year Collaboration Agreement [Member] | |||||||||||||||
Payment for services | $ 59,508 | ||||||||||||||
One-Year Collaboration Agreement [Member] | Euros [Member] | |||||||||||||||
Payment for services | € | € 52,000 | ||||||||||||||
Two-Year Collaboration Agreement [Member] | |||||||||||||||
Payment for services | $ 45,775 | ||||||||||||||
Two-Year Collaboration Agreement [Member] | Euros [Member] | |||||||||||||||
Payment for services | € | € 40,000 | ||||||||||||||
From 2012 through the 2014 [Member] | |||||||||||||||
Penalty amount | 10,000 | ||||||||||||||
Regal Consulting, LLC [Member] | |||||||||||||||
Loss contingency amount | $ 400,000 | ||||||||||||||
Number of shares issued for services | shares | 60,000 | 60,000 | |||||||||||||
Regal Consulting, LLC [Member] | 2017 Note [Member] | |||||||||||||||
Convertible note | $ 106,500 | ||||||||||||||
Penalty amount | $ 100,000 | ||||||||||||||
Foley Shechter [Member] | |||||||||||||||
Legal fees | $ 151,032 | ||||||||||||||
Potential liability reduction | $ 51,032 |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Right Use of Asset (Details) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 |
Commitments and Contingencies Disclosure [Abstract] | ||
Office lease ROU | $ 48,662 | |
Less accumulated reduction | (26,980) | |
Balance of ROU asset | $ 21,682 |
Commitments and Contingencies_3
Commitments and Contingencies - Schedule of Operating Lease Liability (Details) | Jun. 30, 2020USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Office lease liability | $ 48,662 |
Reduction of lease liability | (23,590) |
Total | $ 25,072 |
Commitments and Contingencies_4
Commitments and Contingencies - Schedule of Future Minimum Rental Payments for Operating Leases (Details) | Jun. 30, 2020USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Fiscal Year 2021 | $ 25,700 |
Imputed interest | (628) |
Total operating lease liability | $ 25,072 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Jul. 13, 2020 | May 14, 2019 | Mar. 16, 2018 | Feb. 01, 2018 | May 05, 2016 | May 05, 2016 | Feb. 25, 2016 | Feb. 25, 2015 | May 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2018 |
Loans from related party | $ 50,993 | $ 51,867 | ||||||||||
Due to related parties | $ 30,639 | $ 31,164 | ||||||||||
Exercise price | ||||||||||||
Restricted stock shares of common stock | 78,000 | |||||||||||
Stock price | $ 0.0039 | |||||||||||
Board of Directors [Member] | ||||||||||||
Payments form related party | $ 56,056 | |||||||||||
Chief Executive Officer [Member] | ||||||||||||
Payments form related party | $ 136,606 | $ 64,377 | ||||||||||
Bonus payable amount | 137,120 | |||||||||||
Remaining bonus amount | 178,256 | |||||||||||
Remaining due and payable | 280,726 | |||||||||||
Restricted stock shares of common stock | 39,000 | |||||||||||
Nathanielsz Employment Agreement [Member] | ||||||||||||
Expired date | Feb. 25, 2019 | |||||||||||
Annual salary | $ 205,680 | |||||||||||
Percentage of pension of monthly salary | 9.50% | |||||||||||
Percentage of bonus of annual base salary | 200.00% | |||||||||||
Nathanielsz Employment Agreement [Member] | Minimum [Member] | ||||||||||||
Annual salary | $ 205,680 | |||||||||||
Nathanielsz Employment Agreement [Member] | Maximum [Member] | ||||||||||||
Annual salary | 274,240 | |||||||||||
AUD Currency [Member] | Board of Directors [Member] | ||||||||||||
Payments form related party | $ 80,046 | |||||||||||
AUD Currency [Member] | Chief Executive Officer [Member] | ||||||||||||
Payments form related party | $ 202,620 | 90,000 | ||||||||||
Bonus payable amount | 200,000 | |||||||||||
Remaining bonus amount | 260,000 | |||||||||||
Remaining due and payable | 407,380 | |||||||||||
AUD Currency [Member] | Nathanielsz Employment Agreement [Member] | ||||||||||||
Annual salary | $ 25,000 | 300,000 | ||||||||||
AUD Currency [Member] | Nathanielsz Employment Agreement [Member] | Minimum [Member] | ||||||||||||
Annual salary | 300,000 | |||||||||||
AUD Currency [Member] | Nathanielsz Employment Agreement [Member] | Maximum [Member] | ||||||||||||
Annual salary | 400,000 | |||||||||||
Initial Nathanielsz RSUs [Member] | Employment Agreement [Member] | ||||||||||||
Restricted stock shares of common stock | 39,000 | |||||||||||
Additional Nathanielsz RSUs [Member] | Employment Agreement [Member] | ||||||||||||
Restricted stock shares of common stock | 39,000 | |||||||||||
Rsus vest, shares | 7,800 | |||||||||||
Gross proceeds from equity financing | $ 4,000,000 | |||||||||||
Restricted Stock Units [Member] | Employment Agreement [Member] | ||||||||||||
Restricted stock shares of common stock | 78,000 | |||||||||||
Stock price | $ 4.25 | |||||||||||
Restricted stock value | $ 331,500 | |||||||||||
Fair value of stock option using black-scholes model | $ 165,747 | |||||||||||
Initial Kenyon RSUs [Member] | Services Agreement [Member] | ||||||||||||
Restricted stock shares of common stock | 19,500 | |||||||||||
Additional Kenyon RSUs [Member] | Services Agreement [Member] | ||||||||||||
Restricted stock shares of common stock | 19,500 | |||||||||||
Rsus vest, shares | 4,875 | |||||||||||
Gross proceeds from equity financing | $ 4,000,000 | |||||||||||
North Horizon Pty Ltd [Member] | ||||||||||||
Lease term | 5 years | 5 years | ||||||||||
Lease expiration date | May 31, 2021 | |||||||||||
Annual rental payments | $ 28,325 | |||||||||||
Goods and service tax | 2,575 | |||||||||||
Future minimum payments due | 25,700 | |||||||||||
North Horizon Pty Ltd [Member] | AUD Currency [Member] | ||||||||||||
Annual rental payments | 39,600 | |||||||||||
Goods and service tax | 3,600 | |||||||||||
North Horizon Pty Ltd [Member] | AUD Currency [Member] | ||||||||||||
Future minimum payments due | 37,295 | |||||||||||
Current and Former Director [Member] | ||||||||||||
Loans from related party | 50,993 | 51,867 | ||||||||||
Former Director [Member] | ||||||||||||
Due to related parties | 30,639 | 31,164 | ||||||||||
Nathanielsz [Member] | North Horizon Pty Ltd [Member] | ||||||||||||
Future minimum payments due | $ 141,629 | 141,629 | ||||||||||
Nathanielsz [Member] | North Horizon Pty Ltd [Member] | AUD Currency [Member] | ||||||||||||
Future minimum payments due | $ 198,000 | $ 198,000 | ||||||||||
Mr. Nathanielsz [Member] | ||||||||||||
Annual salary | $ 80,904 | |||||||||||
Payments form related party | 30,284 | 38,463 | ||||||||||
Mr. Nathanielsz [Member] | Board of Directors [Member] | ||||||||||||
Payments form related party | 150,602 | |||||||||||
Mr. Nathanielsz [Member] | AUD Currency [Member] | ||||||||||||
Annual salary | $ 120,000 | |||||||||||
Mr. Nathanielsz [Member] | AUD Currency [Member] | ||||||||||||
Payments form related party | $ 44,918 | 53,772 | ||||||||||
Mr. Nathanielsz [Member] | AUD Currency [Member] | Board of Directors [Member] | ||||||||||||
Payments form related party | $ 219,954 | |||||||||||
James Nathanielsz [Member] | ||||||||||||
Payments form related party | $ 3,205 | |||||||||||
James Nathanielsz [Member] | AUD Currency [Member] | ||||||||||||
Payments form related party | $ 4,481 | |||||||||||
Mr. Nathanielsz [Member] | Board of Directors [Member] | ||||||||||||
Officers' compensation | $ 315,376 | 210,090 | ||||||||||
Mr. Nathanielsz [Member] | Board of Directors [Member] | Subsequent Event [Member] | ||||||||||||
Officers' compensation | $ 240,000 | |||||||||||
Mr. Nathanielsz [Member] | Employment Agreement [Member] | ||||||||||||
Agreement term | 3 years | |||||||||||
Agreement renewal term | 1 year | |||||||||||
Option purchase shares | 39,000 | |||||||||||
Exercise price | $ 4.675 | |||||||||||
Market price | 110.00% | |||||||||||
Granted exercise price | $ 4.25 | |||||||||||
Restricted stock shares of common stock | 39,000 | |||||||||||
Option term | 10 years | |||||||||||
Options vested, description | The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz's continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz's continued employment with the Company through the applicable vesting date: (i) 7,800 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the "CTA") for PRP, the Company's lead product candidate ("PRP"), for a First-In-Human study for PRP (the "Study") in an applicable jurisdiction to be selected by the Company, (ii) 7,800 of the Additional Nathanielsz RSUs shall vest upon the CTA being approved in an applicable jurisdiction, (iii) 7,800 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iv) 7,800 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7,800 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested restricted stock unit shall be settled by delivery to Mr. Nathanielsz of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the 2019 Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Employment Agreement), (ii) the date that is ten business days following the vesting of such restricted stock unit, (iii) the date of Mr. Nathanielsz's death or Disability (as defined in the Employment Agreement), and (iv) Mr. Nathanielsz's employment being terminated either by the Company without Cause or by Mr. Nathanielsz for Good Reason (each as defined in the Employment Agreement). In the event of a Change of Control, any unvested portion of the Nathanielsz Options and such restricted stock units shall vest immediately prior to such event. | |||||||||||
Stock price | $ 4.25 | |||||||||||
Restricted stock value | $ 165,747 | |||||||||||
Exercise price | $ 4.65 | |||||||||||
Dividend yield | 0.00% | |||||||||||
Years to maturity | 10 years | |||||||||||
Risk free rate | 2.42% | |||||||||||
Expected volatility | 268.00% | |||||||||||
Mr. Nathanielsz [Member] | AUD Currency [Member] | Board of Directors [Member] | ||||||||||||
Officers' compensation | $ 460,000 | $ 300,000 | ||||||||||
Mr. Nathanielsz [Member] | AUD Currency [Member] | Board of Directors [Member] | Subsequent Event [Member] | ||||||||||||
Bonus granted percentage | 60.00% | |||||||||||
Mr. Nathanielsz [Member] | AUD Currency [Member] | Employment Agreement [Member] | ||||||||||||
Annual salary | 400,000 | |||||||||||
Dr Kenyon [Member] | AUD Currency [Member] | Services Agreement [Member] | ||||||||||||
Annual salary | $ 54,000 | |||||||||||
Dr Kenyon [Member] | Services Agreement [Member] | ||||||||||||
Agreement term | 3 years | |||||||||||
Agreement renewal term | 1 year | |||||||||||
Option purchase shares | 19,500 | |||||||||||
Exercise price | $ 4.25 | |||||||||||
Market price | 100.00% | |||||||||||
Granted exercise price | $ 19,500 | |||||||||||
Option term | 10 years | |||||||||||
Options vested, description | The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon's continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon's continued employment with the Company through the applicable vesting date: (i) 4,875 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 4,875 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 4,875 of the Additional Kenyon RSUs shall vest upon the shares of the Company's Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 4,875 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested Kenyon RSU shall be settled by delivery to Mr. Kenyon of one share of the Company's common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company's board of directors and subject to the Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Services Agreement), (ii) the date that is ten business days following the vesting of such Kenyon RSU, (iii) the date of Dr. Kenyon's death or Disability (as defined in the Services Agreement), and (iv) Dr. Kenyon's employment being terminated either by the Company without Cause or by Dr. Kenyon for Good Reason (as defined in the Services Agreement). In the event of a Change of Control (as defined in the Services Agreement), 50% of any unvested portion of the Kenyon Options and the Kenyon RSUs shall vest immediately prior to such event. | |||||||||||
Stock price | $ 4.25 | |||||||||||
Exercise price | $ 4.25 | |||||||||||
Dividend yield | 0.00% | |||||||||||
Years to maturity | 10 years | |||||||||||
Risk free rate | 2.42% | |||||||||||
Expected volatility | 268.00% | |||||||||||
Dr Kenyon [Member] | Restricted Stock [Member] | Services Agreement [Member] | ||||||||||||
Restricted stock shares of common stock | 39,000 | |||||||||||
Stock price | $ 4.25 | |||||||||||
Restricted stock value | $ 165,750 | |||||||||||
Fair value of stock option using black-scholes model | $ 82,873 |
Concentrations and Risks (Detai
Concentrations and Risks (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Proceeds from convertible debt | $ 1,591,250 | $ 1,369,000 |
Reimbursement on goods and service tax receivable percentage | 100.00% | 100.00% |
Lender One [Member] | ||
Proceeds from convertible debt | $ 285,000 | $ 621,000 |
Convertible debt, percentage | 18.00% | 45.00% |
Lender Two [Member] | ||
Proceeds from convertible debt | $ 505,000 | $ 362,000 |
Convertible debt, percentage | 32.00% | 26.00% |
Lender Three [Member] | ||
Proceeds from convertible debt | $ 227,000 | $ 200,000 |
Convertible debt, percentage | 14.00% | 15.00% |
Derivative Financial Instrume_3
Derivative Financial Instruments and Fair Value Measurements (Details Narrative) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 |
Share price | $ 0.0039 | |
Convertible Debt [Member] | ||
Convertible debt | $ 126,500 | $ 142,000 |
Derivative Financial Instrume_4
Derivative Financial Instruments and Fair Value Measurements - Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques (Details) - Convertible Debt [Member] | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Volatility [Member] | ||
Debt instrument, measurement input, percentages | 264 | 355 |
Expected Remaining Term [Member] | Minimum [Member] | ||
Debt instrument, measurement input, term | 4 days | 1 month 9 days |
Expected Remaining Term [Member] | Maximum [Member] | ||
Debt instrument, measurement input, term | 8 months 12 days | 10 months 25 days |
Risk Free Interest Rate [Member] | Minimum [Member] | ||
Debt instrument, measurement input, percentages | 0.13 | 1.92 |
Risk Free Interest Rate [Member] | Maximum [Member] | ||
Debt instrument, measurement input, percentages | 0.18 | 2.15 |
Expected Dividend Yield [Member] | ||
Debt instrument, measurement input, percentages | 0 | 0 |
Initial Valuations [Member] | Volatility [Member] | Minimum [Member] | ||
Debt instrument, measurement input, percentages | 227 | |
Initial Valuations [Member] | Volatility [Member] | Maximum [Member] | ||
Debt instrument, measurement input, percentages | 279 | |
Initial Valuations [Member] | Expected Remaining Term [Member] | ||
Debt instrument, measurement input, term | 1 year | |
Initial Valuations [Member] | Risk Free Interest Rate [Member] | Minimum [Member] | ||
Debt instrument, measurement input, percentages | 1.53 | |
Initial Valuations [Member] | Risk Free Interest Rate [Member] | Maximum [Member] | ||
Debt instrument, measurement input, percentages | 1.59 | |
Initial Valuations [Member] | Expected Dividend Yield [Member] | ||
Debt instrument, measurement input, percentages | 0 |
Derivative Financial Instrume_5
Derivative Financial Instruments and Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2018 |
Embedded conversion option liabilities | $ 177,009 | $ 698,264 | |
Total | 177,009 | 698,264 | $ 371,532 |
Fair Value, Inputs, Level 1 [Member] | |||
Embedded conversion option liabilities | |||
Total | |||
Fair Value, Inputs, Level 2 [Member] | |||
Embedded conversion option liabilities | |||
Total | |||
Fair Value, Inputs, Level 3 [Member] | |||
Embedded conversion option liabilities | 177,009 | 698,264 | |
Total | $ 177,009 | $ 698,264 |
Derivative Financial Instrume_6
Derivative Financial Instruments and Fair Value Measurements - Schedule of Derivative Liabilities at Fair Value (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Balance at Beginning | $ 698,264 | $ 371,532 |
Effects of foreign currency exchange rate changes | ||
Reductions due to conversions | (362,962) | (1,388,764) |
Reductions due to repayment of debt | (936,650) | |
Initial fair value of embedded conversion option derivative liability recorded as debt discount | 227,000 | 180,000 |
Initial fair value of embedded conversion option derivative liability recorded as change in fair value of embedded conversion option | 382,944 | |
Initial fair value of embedded conversion option derivative liability recorded as derivative expense | 351,461 | |
Change in fair value included in derivative expense (income) in the statement of operations | (736,754) | 2,089,202 |
Balance at Ending | $ 177,009 | $ 698,264 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | Sep. 18, 2020 | Jul. 22, 2020 | Sep. 30, 2020 | Sep. 28, 2020 | Jun. 30, 2020 | Jun. 30, 2019 |
Proceeds from the exercise of warrants | $ 30 | |||||
Exercise of warrant | ||||||
Additional paid in capital | $ 50,656,031 | $ 45,713,322 | ||||
Subsequent Event [Member] | ||||||
Proceeds from the exercise of warrants | $ 101,045 | |||||
Debt conversion price per share | $ 0.00096 | |||||
Debt principal amount | $ 43,000 | $ 391,935 | ||||
Debt interest | $ 25,735 | |||||
Conversion of principal and interest, aggregate amount | 57,671 | |||||
Accrued interest | 1,705 | |||||
Prepayment penalty | $ 12,966 | |||||
Additional paid in capital | $ 204,919 | |||||
Bifurcated embedded conversion option derivatives | 75,000 | |||||
Fair market value shares issued | 134,155 | |||||
Loss on extinguishment at the time of conversion | 56,155 | |||||
Gain on extinguishment at the time of conversion | $ 106,141 | |||||
Subsequent Event [Member] | Minimum [Member] | ||||||
Debt conversion price per share | $ 0.00056 | |||||
Subsequent Event [Member] | Maximum [Member] | ||||||
Debt conversion price per share | $ 0.0020 | |||||
Subsequent Event [Member] | Series B Warrants [Member] | ||||||
Exercise of warrant | 2,500,000 | |||||
Subsequent Event [Member] | Prefunded Warrants [Member] | ||||||
Exercise of warrant | 10,445,482 | |||||
Subsequent Event [Member] | Common Stock [Member] | ||||||
Debt conversion shares | 442,031,352 | |||||
Conversion fees | $ 6,750 |