Integrated Ventures (INTV) 10-Q 13 Nov 20 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2020	Nov. 13, 2020
Cover [Abstract]
Entity Registrant Name	INTEGRATED VENTURES, INC.
Entity Central Index Key	0001520118
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Entity Common Stock Shares Outstanding		121,898,621
Document Transition Report	false
Entity Interactive Data Current	Yes

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Current assets:
Cash	$ 102,435	$ 6,675
Prepaid expenses and other current assets	6,500	3,250
Total current assets	108,935	9,925
Non-current assets:
Property and equipment, net of accumulated depreciation and amortization of $319,962 and $805,421 as of September 30, 2020 and June 30, 2020	362,949	453,342
Digital currencies	89,741	82,855
Deposits	700	700
Total assets	562,325	546,822
Current liabilities:
Accounts payable	100,356	84,443
Accrued expenses	23,655	25,274
Due to related party	113,220	122,907
Derivative liabilities	209,338	164,834
Convertible notes payable, net of discounts of $56,590 and $88,449 as of September 30, 2020 and June 30, 2020	196,243	251,384
Notes payable	25,405	7,583
Total current liabilities	668,217	656,425
Long-term liabilities:
Convertible note payable, net of discount of $125,413 as of September 30, 2020	146,326	0
Total liabilities	814,543	656,425
Stockholders' deficit:
Common stock, $0.001 par value, (750,000,000 shares authorized, 116,506,895 and 103,164,460 shares issued and outstanding as of September 30, 2020 and June 30, 2020, respectively)	116,508	103,165
Additional paid-in capital	22,084,104	21,851,284
Accumulated deficit	(22,453,760)	(22,064,982)
Total stockholders' deficit	(252,218)	(109,603)
Total liabilities and stockholders' deficit	562,325	546,822
Series B Preferred Stock [Member]
Stockholders' deficit:
Preferred stock value	430	430
Preferred Stock Series A [Member]
Stockholders' deficit:
Preferred stock value	$ 500	$ 500

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Non-current assets:
Property and equipment, net of accumulated depreciation and amortization	$ 319,462	$ 805,421
Current liabilities:
Convertible notes payable, net of discounts	56,590	$ 88,449
Long-term liabilities
Convertible note payable, net of discount	$ 125,413
Stockholders' deficit
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	116,506,895	103,164,460
Common stock, shares outstanding	116,506,895	103,164,460
Preferred Stock Series B [Member]
Stockholders' deficit
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	430,000	430,000
Preferred stock, shares outstanding	430,000	430,000
Preferred Stock Series A [Member]
Stockholders' deficit
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	500,000	500,000
Preferred stock, shares outstanding	500,000	500,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Cryptocurrency mining	$ 67,337	$ 107,465
Sales of cryptocurrency mining equipment	14,890	0
Total revenues	82,227	107,465
Cost of revenues	189,011	227,083
Gross loss	(106,784)	(119,618)
Operating expenses:
General and administrative	99,717	107,385
Loss from operations	(206,501)	(227,003)
Other income (expense):
Interest expense	(100,872)	(301,287)
Realized gain (loss) on digital currencies	88,375	(3,361)
Unrealized loss on digital currencies	(2,521)	0
Loss on disposition of property and equipment	(207,281)	0
Change in fair value of derivative liabilities	40,022	841,736
Loss on conversion of debt	0	(7,545)
Digital currency theft loss	0	(33,037)
Total other income (expense)	(182,277)	496,506
Income (loss) before income taxes	(388,778)	269,503
Provision for income taxes	0	0
Net income (loss)	$ (388,778)	$ 269,503
Net income (loss) per common share:
Basic	$ 0	$ 0.01
Diluted	$ 0	$ 0
Weighted average number of common shares outstanding:
Basic	111,986,110	35,499,687
Diluted	111,986,110	105,191,630

Condensed Statement of Stockhol

Condensed Statement of Stockholders Deficit (Unaudited) - USD ($)	Total	Series A, Preferred Stock	Series B, Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit [Member]
Balance, shares at Jun. 30, 2019		500,000	300,000	29,824,187
Balance, amount at Jun. 30, 2019	$ (1,088,343)	$ 500	$ 300	$ 29,825	$ 19,864,239	$ (20,983,207)
Common shares issued in Series B preferred stock Exchange Agreement, shares				5,000,000
Common shares issued in Series B preferred stock Exchange Agreement, amount	399,900	$ 0	$ 0	$ 5,000	394,900	0
Issuance of common shares in conversion of convertible notes payable, shares				5,210,487
Issuance of common shares in conversion of convertible notes payable, amount	272,695	$ 0	$ 0	$ 5,210	267,485	0
Settlement of derivative liabilities	115,275	0	0	0	115,275	0
Net income (loss)	269,503	$ 0	$ 0	$ 0	0	269,503
Balance, shares at Sep. 30, 2019		500,000	300,000	40,034,674
Balance, amount at Sep. 30, 2019	(30,970)	$ 500	$ 300	$ 40,035	20,641,899	(20,713,704)
Balance, shares at Jun. 30, 2020		500,000	430,000	103,164,460
Balance, amount at Jun. 30, 2020	(109,603)	$ 500	$ 430	$ 103,165	21,851,284	(22,064,982)
Issuance of common shares in conversion of convertible notes payable, shares				13,342,435
Issuance of common shares in conversion of convertible notes payable, amount	175,867	$ 0	$ 0	$ 13,343	162,524	0
Settlement of derivative liabilities	70,296	0	0	0	70,296	0
Net income (loss)	(388,778)	$ 0	$ 0	$ 0	0	(388,778)
Balance, shares at Sep. 30, 2020		500,000	430,000	116,506,895
Balance, amount at Sep. 30, 2020	$ (252,218)	$ 500	$ 430	$ 116,508	$ 22,084,104	$ (22,453,760)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (388,778)	$ 269,503
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization expense	110,572	144,612
Amortization of debt discount	91,007	282,390
Loss on disposition of property and equipment	207,281	0
Change in fair value of derivative liabilities	(40,022)	(841,736)
Realized (gain) loss on sale of digital currencies	(88,375)	3,361
Unrealized loss on digital currencies	2,521	0
Loss on conversion of debt	0	7,545
Digital currency theft loss	0	33,037
Changes in assets and liabilities:
Digital currencies	(67,699)	(109,112)
Prepaid expenses and other current assets	(3,250)	(3,250)
Accounts payable	(34,239)	(77)
Accrued expenses	10,248	17,987
Due to related party	(9,687)	9,079
Net cash used in operating activities	(210,421)	(186,661)
Cash flows from investing activities:
Proceeds from the sale of digital currencies	2,283,717	62,971
Purchase of digital currencies	(2,086,898)	0
Purchase of property and equipment	(209,638)	(110,281)
Net cash used in investing activities	(12,819)	(47,310)
Cash flows from financing activities:
Proceeds from convertible notes payable	319,000	247,000
Net cash provided by financing activities	319,000	247,000
Net increase in cash	95,760	13,029
Cash, beginning of period	6,675	48,310
Cash, end of period	102,435	61,339
Supplemental disclosure of cash flow information:
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Non-cash investing and financing activities:
Debt discount for derivative liabilities	$ 154,822	$ 119,157
Common shares issued for convertible notes payable	175,867	265,150
Settlement of derivative liabilities	$ 70,296	$ 115,275
Note payable issued for property and equipment	17,822	0
Equipment deposits for property and equipment	0	27,971
Common shares issued in Series B preferred stock Exchange Agreement	$ 0	$ 399,900

ORGANIZATION ORGANIZATION AND B

ORGANIZATION ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Sep. 30, 2020
ORGANIZATION ORGANIZATION AND BASIS OF PRESENTATION
1. ORGANIZATION AND BASIS OF PRESENTATION	Organization Integrated Ventures, Inc. (the "Company," "we," "our," or "EMS Find") was incorporated in the State of Nevada on March 22, 2011, under the name of Lightcollar, Inc.On March 20, 2015, the Company amended its articles of incorporation and changed its name from Lightcollar, Inc. to EMS Find, Inc.On May 30, 2017, Integrated Ventures, Inc. (“Integrated Ventures”), a Nevada corporation, was formed as a wholly owned subsidiary of the Company.Pursuant to an Agreement and Plan of Merger dated May 30, 2017, Integrated Ventures was merged into the Company, with the Company being the surviving corporation and changing its name to Integrated Ventures, Inc. The Company has discontinued its prior operations and changed its business focus from its prior technologies relating to the EMS Find platform to acquiring, launching and operating companies in the cryptocurrency sector, mainly in digital currency mining, equipment manufacturing, and sales of branded mining rigs, as well as blockchain software development. The Company is developing and acquiring a diverse portfolio of digital currency assets and block chain technologies. Cryptocurrencies are a medium of exchange that uses decentralized control (a block chain) as opposed to a central bank to track and validate transactions. The Company is currently mining Bitcoin and Ethereum, whereby the Company earns revenue by solving “blocks” to be added to the block chain.The Company also purchases certain digital currencies for short-term investment purposes. In May 2019, the Company consolidated all of its mining operations and signed a power supply and purchase agreement with PetaWatt Properties, LLC. Basis of Presentation The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles ("US GAAP") for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. The results of operations for the interim periods ended September 30, 2020 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2021. In the opinion of the Company's management, the information contained herein reflects all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the Company's results of operations, financial position and cash flows. The unaudited interim financial statements should be read in conjunction with the audited financial statements in the Company's Annual Report on Form 10-K for the year ended June 30, 2020 filed on September 23, 2020 and Management's Discussion and Analysis of Financial Condition and Results of Operations.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Sep. 30, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	The significant accounting policies of the Company are disclosed in Notes to Financial Statements included in the Company’s Annual Report on Form 10-K. The following summary of significant accounting policies of the Company is presented to assist in understanding the Company’s interim financial statements. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates. Digital Currencies Digital currencies consist of Bitcoin, Litecoin and Ethereum, generally received for the Company’s own account as compensation for cryptocurrency mining services, and Chainlink and other digital currencies purchased for short-term investment purposes.Given that there is limited precedent regarding the classification and measurement of cryptocurrencies under current Generally Accepted Accounting Principles (“GAAP”), the Company has determined to account for these digital currencies as indefinite-lived intangible assets in accordance with Accounting Standards Update ("ASU") No. 350, Intangibles – Goodwill and Other September Property and Equipment Property and equipment, consisting primarily of computer and other cryptocurrency mining equipment (transaction verification servers), is stated at the lower of cost or estimated realizable value and is depreciated when placed into service using the straight-line method over estimated useful lives. The Company operates in an emerging industry for which limited data is available to make estimates of the useful economic lives of specialized equipment. Management has assessed the basis of depreciation of these assets and believes they should be depreciated over a three-year period due to technological obsolescence reflecting rapid development of hardware that has faster processing capacity and other factors. Maintenance and repairs are expensed as incurred and improvements are capitalized. Gains or losses on the disposition of property and equipment are recorded upon disposal. During the three months ended September 30, 2020, the Company discontinued the use of damaged or non-serviceable mining equipment and wrote off its net book value of $207,281 to loss on disposition of property and equipment. Management has determined that the three-year diminishing value best reflects the current expected useful life of transaction verification servers. This assessment takes into consideration the availability of historical data and management’s expectations regarding the direction of the industry including potential changes in technology. Management will review this estimate annually and will revise such estimates as and when data becomes available. To the extent that any of the assumptions underlying management’s estimate of useful life of its transaction verification servers are subject to revision in a future reporting period, either as a result of changes in circumstances or through the availability of greater quantities of data, then the estimated useful life could change and have a prospective impact on depreciation expense and the carrying amounts of these assets. Payments to equipment suppliers prior to shipment of the equipment are recorded as equipment deposits. Derivatives The Company evaluates its convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for. The result of this accounting treatment is that under certain circumstances the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. Equity instruments that are initially classified as equity that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date. Where the number of warrants or common shares to be issued under these agreements is indeterminate, the Company has concluded that the equity environment is tainted, and all additional warrants and convertible debt are included in the value of the derivatives. We estimate the fair value of the derivatives associated with our convertible notes payable, common stock issuable pursuant to a Series B preferred stock Exchange Agreement and a stock subscription payable using, as applicable, either the Black-Scholes pricing model or multinomial lattice models that value the derivative liability based on a probability weighted discounted cash flow model using future projections of the various potential outcomes.We estimate the fair value of the derivative liabilities at the inception of the financial instruments, and, in the case of our convertible notes payable, at the date of conversions to equity and at each reporting date, recording a derivative liability, debt discount, additional paid-in capital and a gain or loss on change in derivative liabilities as applicable. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility, variable conversion prices based on market prices as defined in the respective agreements and probabilities of certain outcomes based on management projections. These inputs are subject to significant changes from period to period and to management’s judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material. Impairment of Long-Lived Assets All assets, including intangible assets subject to amortization, are reviewed for impairment when changes in circumstances indicate that the carrying amount of the asset may not be recoverable in accordance with ASC 350 and ASC 360. If the carrying amount of the asset exceeds the expected undiscounted cash flows of the asset, an impairment charge is recognized equal to the amount by which the carrying amount exceeds fair value or net realizable value. The testing of these intangibles under established guidelines for impairment requires significant use of judgment and assumptions. Changes in forecasted operations and other assumptions could materially affect the estimated fair values. Changes in business conditions could potentially require adjustments to these asset valuations. We reported no impairment expense for the three months ended September 30, 2020 and 2019. Fair Value of Financial Instruments Disclosures about fair value of financial instruments require disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value.As of September 30, 2020 and June 30, 2020, the amounts reported for cash, prepaid expenses and other current assets, accounts payable, accrued expenses, due to related party and notes payable approximate fair value because of their short maturities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.ASC Topic 820 established a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1measurements) and the lowest priority to unobservable inputs (level 3 measurements).These tiers include: · Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; · Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and · Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows: Total Level 1 Level 2 Level 3 September 30, 2020: Derivative liabilities $ 209,338 $ - $ - $ 209,338 Total liabilities measured at fair value $ 209,338 $ - $ - $ 209,338 June 30, 2020: Derivative liabilities $ 164,834 $ - $ - $ 164,834 Total liabilities measured at fair value $ 164,834 $ - $ - $ 164,834 Stock-Based Compensation The Company accounts for all equity-based payments in accordance with ASC Topic 718, Compensation – Stock Compensation. The Company accounts for non-employee share-based awards based upon ASC 505-50, Equity-Based Payments to Non-Employees. Revenue Recognition Effective July 1, 2018, we adopted ASC 606, Revenue from Contracts with Customers, as amended, using the modified retrospective method, which requires the cumulative effect of adoption to be recognized as an adjustment to opening retained earnings in the period of adoption. There was no cumulative effect of adopting the new standard and no impact on our financial statements. The new standard provides a single comprehensive model to be used in the accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific guidance. The standard’s stated core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, ASC 606 includes provisions within a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance obligation. Our revenues currently consist of cryptocurrency mining revenues and revenues from the sale of cryptocurrency mining equipment recognized in accordance with ASC 606 as discussed above. Amounts collected from customers prior to shipment of products are recorded as deferred revenue. The Company earns its cryptocurrency mining revenues by providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin and Ethereum. The Company satisfies its performance obligation at the point in time that the Company is awarded a unit of digital currency through its participation in the applicable network and network participants benefit from the Company’s verification service. In consideration for these services, the Company receives digital currencies, which are recorded as revenue using the closing U.S. dollar price of the related cryptocurrency on the date of receipt. Expenses associated with running the cryptocurrency mining operations, such as equipment depreciation, rent, operating supplies, rent, utilities and monitoring services are recorded as cost of revenues. There is currently no specific definitive guidance in GAAP or alternative accounting frameworks for the accounting for the production and mining of digital currencies and management has exercised significant judgment in determining appropriate accounting treatment for the recognition of revenue for mining of digital currencies. Management has examined various factors surrounding the substance of the Company’s operations and the guidance in ASC 606, including identifying the transaction price, when performance obligations are satisfied, and collectability is reasonably assured being the completion and addition of a block to a blockchain and the award of a unit of digital currency to the Company. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies which could result in a change in the Company’s financial statements. Income Taxes The Company adopted the provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions. The Company adopted ASC 740-10, Definition of Settlement in FASB Interpretation No. 48, Income (Loss) Per Share Basic net income or loss per share is calculated by dividing net income or loss by the weighted average number of common shares outstanding for the period. Diluted income or loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as “in-the-money” stock options and warrants, convertible debt and convertible preferred stock, were exercised or converted into common stock. Equivalent shares are not utilized when the effect is anti-dilutive. The common shares used in the computation of basic and diluted net income (loss) per share are reconciled as follows: Three Months Ended 2020 2019 Weighted average number of shares outstanding – basic 111,986,110 35,499,687 Dilutive effect of convertible debt - 39,691,943 Dilutive effect of Series B convertible preferred stock - 30,000,000 Net 111,986,110 105,191,630 Recently Issued Accounting Pronouncements There were no new accounting pronouncements issued or proposed by the FASB during the three months ended September 30, 2020 and through the date of filing this report which the Company believes will have a material impact on its financial financial statements. Reclassifications Certain amounts in the condensed financial statements for the prior-year periods have been reclassified to conform to the presentation for the current-year periods.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Sep. 30, 2020
GOING CONCERN
3. GOING CONCERN	The Company has reported recurring operating losses since its inception and used net cash in operating activities of $210,421 in the three months ended September 30, 2020. As of September 30, 2020, the Company had an accumulated deficit of $22,453,760 and a total stockholders’ deficit of $252,218. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The ability of the Company to reach a successful level of operations is dependent on the execution of management’s plans, which include the raising of capital through the debt and/or equity markets, until such time that funds provided by operations are sufficient to fund working capital requirements. If the Company were not to continue as a going concern, it would likely not be able to realize its assets at values comparable to the carrying value or the fair value estimates reflected in the balances set out in the preparation of the financial statements. There can be no assurances that the Company will be successful in attaining a profitable level of operations or in generating additional cash from the equity/debt markets or other sources fund its operations. The financial statements do not include any adjustments relating to the recoverability of assets and classification of assets and liabilities that might be necessary. Should the Company not be successful in its business plan or in obtaining the necessary financing to fund its operations, the Company would need to curtail certain or all operational activities and/or contemplate the sale of its assets, if necessary.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Sep. 30, 2020
PROPERTY AND EQUIPMENT
4. PROPERTY AND EQUIPMENT	Property and equipment consisted of the following at: September 30, June 30, Cryptocurrency mining equipment $ 666,545 $ 1,242,397 Furniture and equipment 16,366 16,366 Total 682,911 1,258,763 Less accumulated depreciation and amortization (319,962 ) (805,421 ) Net $ 362,949 $ 453,342 Depreciation and amortization expense, included in cost of revenues, was $110,572 and $144,612 for the three months ended September 30, 2020 and 2019, respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Sep. 30, 2020
RELATED PARTY TRANSACTIONS
5. RELATED PARTY TRANSACTIONS	We have one executive officer, Steve Rubakh, who is currently our only full-time employee and sole member of our Board of Directors. Mr. Rubakh is paid an annual salary established by the Board of Directors and is issued shares of Series B preferred stock for additional compensation. The number of shares issued, generally on a quarterly basis, is at the discretion of the Board of Directors. The Board of Directors of the Company has set the current annual compensation for Steve Rubakh to include annual salary of $150,000 per year and the issuance of shares of Series B preferred stock as determined by the Board. The Company recorded salary expense to Mr. Rubakh of $37,500 for the three months ended September 30, 2020 and 2019. No shares of Series B preferred stock were issued to Mr. Rubakh during the three months ended September 30, 2020 and 2019. Amounts due to related party, consisting of accrued salary to Mr. Rubakh, totaled $113,220 and $122,907 as of September 30, 2020 and 2019, respectively.

CONVERTIBLE NOTES PAYABLE

CONVERTIBLE NOTES PAYABLE	3 Months Ended
	Sep. 30, 2020
CONVERTIBLE NOTES PAYABLE
6. CONVERTIBLE NOTES PAYABLE	Current Convertible Notes Payable Current convertible notes payable consist of the following: September 30, 2020 June 30, 2020 Debt Debt Principal Discount Net Principal Discount Net BHP Capital NY, Inc. #4 $ - $ - $ - $ 66,000 $ 13,193 $ 52,807 Armada Investment Fund, LLC #5 - - - 20,000 2,739 17,261 Armada Investment Fund, LLC #6 - - - 22,000 4,167 17,833 BHP Capital NY, Inc. #5 83,333 7,540 75,793 83,333 21,141 62,192 BHP Capital NY, Inc. #6 60,500 12,041 48,459 60,500 19,188 41,312 Armada Investment Fund, LLC #7 32,000 2,904 29,096 88,000 28,021 59,979 JSJ Investments Inc. #1 77,000 34,105 42,895 - - - Total $ 252,833 $ 56,590 $ 196,243 $ 339,833 $ 88,449 $ 251,384 In consideration for an agreement to limit conversions of a prior convertible note, the Company issued to Armada Investment Fund, LLC (“Armada”) a fifth convertible promissory note in the principal amount of $20,000. The note matures on November 1, 2020 and bears interest at 8%. A debt discount of $8,082 was recorded, consisting of a derivative liability. Armada has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock. The conversion price is 70% of the average of the five lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion. During the three months ended September 30, 2020, Armada converted the entire principal of $20,000, accrued interest payable of $1,184 and conversion fees of $500 into common shares of the Company, extinguishing the debt in full. As of September 30, 2020, the debt discount had been amortized in full to interest expense. On November 21, 2019, the Company entered into a sixth convertible promissory note with Armada in the principal amount of $22,000, with an original issue discount of $2,000. The note matures on November 21, 2020 and bears interest at 8%. A debt discount of $10,590 was recorded, including a derivative liability of $8,090. Armada has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock. The conversion price is 70% of the average of the five lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion. During the three months ended September 30, 2020, Armada converted the entire principal of $22,000, accrued interest payable of $1,109 and conversion fees of $500 into common shares of the Company, extinguishing the debt in full. As of September 30, 2020, the debt discount had been amortized in full to interest expense. On December 2, 2019, the Company entered into a fourth convertible promissory note with BHP Capital NY, Inc. (“BHP”) in the principal amount of $66,000, with an original issue discount of $6,000. The note matures on December 2, 2020 and bears interest at 8%. A debt discount of $31,153 was recorded, including a derivative liability of $24,153. BHP has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock. The conversion price is 70% of the average of the three lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion. During the three months ended September 30, 2020, BHP converted the entire principal of $66,000, accrued interest payable of $3,467 and conversion fees of $1,000 into common shares of the Company, extinguishing the debt in full. As of September 30, 2020, the debt discount had been amortized in full to interest expense. On February 20, 2020, the Company entered into a fifth convertible promissory note with BHP in the principal amount of $83,333, with an original issue discount of $8,333. The note matures on November 20, 2020, and bears interest at 8%. A debt discount of $40,507 was recorded, including a derivative liability of $30,674. BHP has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock. The conversion price is 70% of the average of the three lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion. As of September 30, 2020, $32,967 of the debt discount had been amortized to interest expense and there was accrued interest payable of $4,073. The Company recorded a derivative liability of $36,140 as of September 30, 2020. On March 4, 2020, the Company entered into a sixth convertible promissory note with BHP in the principal amount of $60,500, with an original issue discount of $5,500. The note matures on March 4, 2021, and bears interest at 8%. A debt discount of $28,354 was recorded, including a derivative liability of $22,854. BHP has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock. The conversion price is 70% of the average of the five lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion. As of September 30, 2020, $16,313 of the debt discount had been amortized to interest expense and there was accrued interest payable of $2,785. The Company recorded a derivative liability of $23,595 as of September 30, 2020. On March 4, 2020, the Company entered into a seventh convertible promissory note with Armada in the principal amount of $88,000, with an original issue discount of $8,000. The note matures on March 4, 2021, and bears interest at 8%. A debt discount of $41,408 was recorded, including a derivative liability of $33,408. Armada has the right beginning on the date that is 181 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock. The conversion price is 70% of the average of the five lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion. During the three months ended September 30, 2020, Armada converted the principal of $56,000, accrued interest payable of $3,107 and conversion fees of $1,000 into common shares of the Company, resulting in a principal balance of $32,000 and accrued interest payable of $175 as of September 30, 2020. As of September 30, 2020, $38,504 of the debt discount had been amortized to interest expense. The Company recorded a derivative liability of $13,213 as of September 30, 2020. On July 6, 2020, the Company entered into a convertible promissory note with JSJ Investments Inc. (“JSJ”) in the principal amount of $77,000. The note matures on July 6, 2021, and bears interest at 8%. A debt discount $44,617 was recorded, including a derivative liability of $42,617. JSJ has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock. The conversion price is 70% of the average of the three lowest trading prices of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion. As of September 30, 2020, $10,512 of the debt discount had been amortized to interest expense. The Company recorded a derivative liability of $33,581 as of September 30, 2020. Long-Term Convertible Note Payable On August 4, 2020, the Company entered into a Securities Purchase Agreement with Eagle Equities, LLC (“Eagle”), providing for the issuance and sale by the Company and the purchase by Eagle of a 6% convertible note of the Company (the “Note”) in the aggregate principal amount of $ The first closing date under the Note was held on August 4, 2020, when the Company sold, and the Buyer purchased the first tranche under the Note for a $271,739 portion of the aggregate $1,086,957, resulting in proceeds to the Company of $250,000 and reflecting the OID of 8%. A subsequent closing of a second tranche of $271,739 portion of the Note shall occur on the filing of the Company’s resale registration statement under the Securities Act of 1933, as amended, covering the entire principal amount of the Note. Eagle has retained the right to purchase the unfunded balance of the Note through February 4, 2022, provided that each purchase must be in an amount of not less than $108,696 ($100,000 after the OID). The Note matures on February 4, 2022, and bears interest at 6%.A debt discount $139,943 was recorded for the first tranche, including a derivative liability of $112,204. Eagle has at any time to convert principal and accrued interest into shares of the Company’s common stock.The conversion price is 70% of the lowest closing bid price of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion.As of September 30, 2020, $14,530 of the debt discount had been amortized to interest expense. The Company recorded a derivative liability of $102,003 as of September 30, 2020.

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
	Sep. 30, 2020
NOTES PAYABLE
7. NOTES PAYABLE	With an effective date of April 20, 2020, a loan to the Company was approved under the terms and conditions of the Paycheck Protection Program (“PPP”) of the United States Small Business Administration (“SBA”) and the CARES Act (2020) (H.R. 748) (15 U.S.C. 636 et seq.) ( the “Act” ) in the amount of $7,583. The loan matures 24 months from inception, bears interest at 1% and had a balance of $7,583 as of September 30, 2020 and June 30, 2020.The loan may be forgiven pursuant to the provisions of the Act. On September 10, 2020, the Company issued a secured promissory note payable for the purchase of digital mining equipment to Wattum Management Inc. with a principal balance of $17,822.The note matures on October 10, 2021 and bears interest at 10%.The note is secured by the equipment purchased and is payable in twelve equal consecutive monthly installments of $1,567.

STOCKHOLDERS DEFICIT

STOCKHOLDERS DEFICIT	3 Months Ended
	Sep. 30, 2020
STOCKHOLDERS DEFICIT
8. STOCKHOLDERS' DEFICIT	Preferred Stock Series A Preferred Stock On January 25, 2019, the Board of Directors of the Company approved a resolution to increase the number of authorized preferred shares to 20,000,000 shares. In March 2015, the Company filed with the State of Nevada a Certificate of Designation establishing the designations, preferences, limitations and relative rights of 1,000,000 shares of the Company's Series A preferred stock. Holders of the Series A preferred stock have the right to vote in aggregate, on all shareholder matters equal to 1,000 votes per share of Series A preferred stock. The shares of Series A preferred stock are not convertible into shares of common stock. The Company has 1,000,000 shares of Series A preferred stock authorized, with 500,000 shares issued and outstanding as of September 30, 2020 and June 30, 2020, which were to members of the Company’s Board of Directors in consideration for services. Series B Preferred Stock On December 21, 2015, the Company filed a Certificate of Designation for a new Series B convertible preferred stock with the State of Nevada following approval by the board of directors of the Company. Five Hundred Thousand (500,000) shares of the Company's authorized preferred stock are designated as the Series B convertible preferred stock, par value of $0.001 per share and with a stated value of $0.001 per share (the "Stated Value"). Holders of Series B preferred stock shall be entitled to receive dividends, when and as declared by the Board of Directors out of funds legally available therefor. At any time and from time to time after the issuance of shares of the Series B preferred stock, each issued share of Series B preferred stock is convertible into 100 shares of the Company’s common stock. The holders of the Series B preferred stock shall have the right to vote together with holders of common stock, on an as "converted basis", on any matter that the Company's shareholders may be entitled to vote on, either by written consent or by proxy. Upon any liquidation, dissolution or winding-up of the Company, the holders of the Series B preferred stock shall be entitled to receive out of the assets of the Company, whether such assets are capital or surplus, for each share of Series B preferred stock an amount equal to the Stated Value, and all other amounts in respect thereof then due and payable prior to any distribution or payment shall be made to the holders of any junior securities. The Company has 500,000 shares of Series B preferred stock authorized, with 430,000 shares issued and outstanding as of September 30, 2020 and June 30, 2020. Steve Rubakh, President of the Company, is issued shares of Series B preferred stock as part of his compensation arrangement. The number of shares issued, generally on a quarterly basis, is at the discretion of the Board of Directors. No shares of Series B preferred stock were issued to Mr. Rubakh during the three months ended September 30, 2020 and 2019.. Common Stock On August 13, 2020, the Board of Directors of the Company approved a resolution to increase the number of authorized common shares to 750,000,000. The Company had 116,506,895 and 103,164,460 shares issued and outstanding as of September 30, 2020 and June 30, 2020, respectively. During the three months ended September 30, 2020, the Company issued a total of 13,342,435 shares of its common stock in conversion of $164,000 note principal, $8,867 accrued interest payable, and $3,000 in fees, resulting in the extinguishment of derivative liabilities totaling $70,296. No gain or loss was recorded as the conversions were completed within the terms of the debt agreements. During the three months ended September 30, 2019, the Company issued a total of 10,210,487 shares of its common stock: 5,000,000 shares valued at $399,900 were issued pursuant to a Series B preferred stock Exchange Agreement entered into on May 21, 2019 and a total of 5,210,487 shares were issued valued at $272,695 were issued in conversion of $263,000 note principal, $2,150 accrued interest payable, and loss on conversion of debt of $7,545, resulting in the extinguishment of derivative liabilities totaling $115,275.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Sep. 30, 2020
COMMITMENTS AND CONTINGENCIES
9. COMMITMENTS AND CONTINGENCIES	Legal Matters From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. As of the date of filing of this report, there were no pending or threatened lawsuits. Power Supply and Purchase Agreement The Company has consolidated it cryptocurrency operations in one facility in Carthage, New York.The Carthage power supply and purchase agreement was entered into on May 10, 2019 for an initial term of 90 days, with an option to continue the agreement for a subsequent 36 months, which option the Company has exercised. The Company’s sole obligation under the agreement is to pay a contractual rate per kilowatt hour of electricity consumed in the Company’s cryptocurrency mining operations. As of September 30, 2020, the Company had no obligation for future lease payments under non-cancelable operating leases.

DERIVATIVE LIABILITIES

DERIVATIVE LIABILITIES	3 Months Ended
	Sep. 30, 2020
DERIVATIVE LIABILITIES
10. DERIVATIVE LIABILITIES	The Company has issued convertible notes payable, warrants and Series B preferred stock with put back rights and has entered into exchange and subscription agreements that contain certain provisions that have been identified as derivatives.The Company has determined that the number of common shares to be issued under these agreements is indeterminate; therefore, the Company concluded that the equity environment is tainted and all additional warrants, stock options convertible debt and obligations to issue common shares are included in the value of derivative liabilities. The Company estimates the fair value of the derivative liabilities at the issuance date and at each subsequent reporting date, using a multinomial lattice model simulation. The model is based on a probability weighted discounted cash flow model using projections of the various potential outcomes. During the three months ended September 30, 2020, we had the following activity in our derivative liabilities: Convertible Common Stock Subscription Total Derivative liabilities at June 30, 2020 $ 163,664 $ 1,170 $ 164,834 Addition to liabilities for new debt 154,822 - 154,822 Decrease due to conversions/assignments (70,296 ) - (70,296 ) Change in fair value (39,658 ) (364 ) (40,022 ) Derivative liabilities at September 30, 2020 $ 208,532 $ 806 $ 209,338 Key inputs and assumptions used in valuing the Company’s derivative liabilities as of September 30, 2020 are as follows: · Stock prices on all measurement dates were based on the fair market value · Risk-free interest rate of 0.07% to 0.15% · The probability of future financing was estimated at 100% · Computed volatility ranging from 147% to 230% These inputs are subject to significant changes from period to period and to management's judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.

DIGITAL CURRENCY THEFT LOSS

DIGITAL CURRENCY THEFT LOSS	3 Months Ended
	Sep. 30, 2020
DIGITAL CURRENCY THEFT LOSS
11. DIGITAL CURRENCY THEFT LOSS	During the three months ended September 30, 2019, we incurred a digital currency theft loss of $33,037 where a hacker obtained unauthorized access to our online digital currency processing service and transferred digital currencies out of our account.The theft loss has been included as an other expense in the accompanying statement of operations for the three months ended September 30, 2020.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Sep. 30, 2020
SUBSEQUENT EVENTS
12. SUBSEQUENT EVENTS	Management has evaluated subsequent events according to the requirements of ASC TOPIC 855, and has reported the following: On October 12, 2020, the Company issued a 5,391,726 shares of its common stock in the conversion of $50,000 convertible note principal, $4,352 accrued interest and $500 of conversion fees. On October 22, 2020, the Company closed the second tranche of its note payable to Eagle (see Note 6) subsequent to the Company filing the required Form S-1 registration statement.. The second tranche was for $271,739, with proceeds to the Company of $250,000 after the original issue discount.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.
Digital Currencies	Digital currencies consist of Bitcoin, Litecoin and Ethereum, generally received for the Company’s own account as compensation for cryptocurrency mining services, and Chainlink and other digital currencies purchased for short-term investment purposes.Given that there is limited precedent regarding the classification and measurement of cryptocurrencies under current Generally Accepted Accounting Principles (“GAAP”), the Company has determined to account for these digital currencies as indefinite-lived intangible assets in accordance with Accounting Standards Update ("ASU") No. 350, Intangibles – Goodwill and Other
Property and Equipment	Property and equipment, consisting primarily of computer and other cryptocurrency mining equipment (transaction verification servers), is stated at the lower of cost or estimated realizable value and is depreciated when placed into service using the straight-line method over estimated useful lives. The Company operates in an emerging industry for which limited data is available to make estimates of the useful economic lives of specialized equipment. Management has assessed the basis of depreciation of these assets and believes they should be depreciated over a three-year period due to technological obsolescence reflecting rapid development of hardware that has faster processing capacity and other factors. Maintenance and repairs are expensed as incurred and improvements are capitalized. Gains or losses on the disposition of property and equipment are recorded upon disposal. During the three months ended September 30, 2020, the Company discontinued the use of damaged or non-serviceable mining equipment and wrote off its net book value of $207,281 to loss on disposition of property and equipment. Management has determined that the three-year diminishing value best reflects the current expected useful life of transaction verification servers. This assessment takes into consideration the availability of historical data and management’s expectations regarding the direction of the industry including potential changes in technology. Management will review this estimate annually and will revise such estimates as and when data becomes available. To the extent that any of the assumptions underlying management’s estimate of useful life of its transaction verification servers are subject to revision in a future reporting period, either as a result of changes in circumstances or through the availability of greater quantities of data, then the estimated useful life could change and have a prospective impact on depreciation expense and the carrying amounts of these assets. Payments to equipment suppliers prior to shipment of the equipment are recorded as equipment deposits.
Derivatives	The Company evaluates its convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for. The result of this accounting treatment is that under certain circumstances the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. Equity instruments that are initially classified as equity that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date. Where the number of warrants or common shares to be issued under these agreements is indeterminate, the Company has concluded that the equity environment is tainted, and all additional warrants and convertible debt are included in the value of the derivatives. We estimate the fair value of the derivatives associated with our convertible notes payable, common stock issuable pursuant to a Series B preferred stock Exchange Agreement and a stock subscription payable using, as applicable, either the Black-Scholes pricing model or multinomial lattice models that value the derivative liability based on a probability weighted discounted cash flow model using future projections of the various potential outcomes.We estimate the fair value of the derivative liabilities at the inception of the financial instruments, and, in the case of our convertible notes payable, at the date of conversions to equity and at each reporting date, recording a derivative liability, debt discount, additional paid-in capital and a gain or loss on change in derivative liabilities as applicable. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility, variable conversion prices based on market prices as defined in the respective agreements and probabilities of certain outcomes based on management projections. These inputs are subject to significant changes from period to period and to management’s judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material.
Impairment of Long-Lived Assets	All assets, including intangible assets subject to amortization, are reviewed for impairment when changes in circumstances indicate that the carrying amount of the asset may not be recoverable in accordance with ASC 350 and ASC 360. If the carrying amount of the asset exceeds the expected undiscounted cash flows of the asset, an impairment charge is recognized equal to the amount by which the carrying amount exceeds fair value or net realizable value. The testing of these intangibles under established guidelines for impairment requires significant use of judgment and assumptions. Changes in forecasted operations and other assumptions could materially affect the estimated fair values. Changes in business conditions could potentially require adjustments to these asset valuations. We reported no impairment expense for the three months ended September 30, 2020 and 2019.
Fair Value of Financial Instruments	Disclosures about fair value of financial instruments require disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value.As of September 30, 2020 and June 30, 2020, the amounts reported for cash, prepaid expenses and other current assets, accounts payable, accrued expenses, due to related party and notes payable approximate fair value because of their short maturities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.ASC Topic 820 established a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value.The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1measurements) and the lowest priority to unobservable inputs (level 3 measurements).These tiers include: · Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; · Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and · Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Our derivative liabilities are measured at fair value on a recurring basis and estimated as follows: Total Level 1 Level 2 Level 3 September 30, 2020: Derivative liabilities $ 209,338 $ - $ - $ 209,338 Total liabilities measured at fair value $ 209,338 $ - $ - $ 209,338 June 30, 2020: Derivative liabilities $ 164,834 $ - $ - $ 164,834 Total liabilities measured at fair value $ 164,834 $ - $ - $ 164,834
Stock-Based Compensation	The Company accounts for all equity-based payments in accordance with ASC Topic 718, Compensation – Stock Compensation. The Company accounts for non-employee share-based awards based upon ASC 505-50, Equity-Based Payments to Non-Employees.
Revenue Recognition	Effective July 1, 2018, we adopted ASC 606, Revenue from Contracts with Customers, as amended, using the modified retrospective method, which requires the cumulative effect of adoption to be recognized as an adjustment to opening retained earnings in the period of adoption. There was no cumulative effect of adopting the new standard and no impact on our financial statements. The new standard provides a single comprehensive model to be used in the accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific guidance. The standard’s stated core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, ASC 606 includes provisions within a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance obligation. Our revenues currently consist of cryptocurrency mining revenues and revenues from the sale of cryptocurrency mining equipment recognized in accordance with ASC 606 as discussed above. Amounts collected from customers prior to shipment of products are recorded as deferred revenue. The Company earns its cryptocurrency mining revenues by providing transaction verification services within the digital currency networks of cryptocurrencies, such as Bitcoin and Ethereum. The Company satisfies its performance obligation at the point in time that the Company is awarded a unit of digital currency through its participation in the applicable network and network participants benefit from the Company’s verification service. In consideration for these services, the Company receives digital currencies, which are recorded as revenue using the closing U.S. dollar price of the related cryptocurrency on the date of receipt. Expenses associated with running the cryptocurrency mining operations, such as equipment depreciation, rent, operating supplies, rent, utilities and monitoring services are recorded as cost of revenues. There is currently no specific definitive guidance in GAAP or alternative accounting frameworks for the accounting for the production and mining of digital currencies and management has exercised significant judgment in determining appropriate accounting treatment for the recognition of revenue for mining of digital currencies. Management has examined various factors surrounding the substance of the Company’s operations and the guidance in ASC 606, including identifying the transaction price, when performance obligations are satisfied, and collectability is reasonably assured being the completion and addition of a block to a blockchain and the award of a unit of digital currency to the Company. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies which could result in a change in the Company’s financial statements.
Income Taxes	The Company adopted the provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions. The Company adopted ASC 740-10, Definition of Settlement in FASB Interpretation No. 48,
Income (Loss) Per Share	Basic net income or loss per share is calculated by dividing net income or loss by the weighted average number of common shares outstanding for the period. Diluted income or loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as “in-the-money” stock options and warrants, convertible debt and convertible preferred stock, were exercised or converted into common stock. Equivalent shares are not utilized when the effect is anti-dilutive. The common shares used in the computation of basic and diluted net income (loss) per share are reconciled as follows: Three Months Ended September 30, 2020 2019 Weighted average number of shares outstanding – basic 111,986,110 35,499,687 Dilutive effect of convertible debt - 39,691,943 Dilutive effect of Series B convertible preferred stock - 30,000,000 Net 111,986,110 105,191,630
Recently Issued Accounting Pronouncements	There were no new accounting pronouncements issued or proposed by the FASB during the three months ended September 30, 2020 and through the date of filing this report which the Company believes will have a material impact on its financial financial statements.
Reclassifications	Certain amounts in the condensed financial statements for the prior-year periods have been reclassified to conform to the presentation for the current-year periods.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Sep. 30, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of Fair value of derivative liabilities	Total Level 1 Level 2 Level 3 September 30, 2020: Derivative liabilities $ 209,338 $ - $ - $ 209,338 Total liabilities measured at fair value $ 209,338 $ - $ - $ 209,338 June 30, 2020: Derivative liabilities $ 164,834 $ - $ - $ 164,834 Total liabilities measured at fair value $ 164,834 $ - $ - $ 164,834
Schedule of income (loss) per share	Three Months Ended 2020 2019 Weighted average number of shares outstanding – basic 111,986,110 35,499,687 Dilutive effect of convertible debt - 39,691,943 Dilutive effect of Series B convertible preferred stock - 30,000,000 Net 111,986,110 105,191,630

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Sep. 30, 2020
PROPERTY AND EQUIPMENT (Tables)
Schedule of Property and equipment	September 30, June 30, Cryptocurrency mining equipment $ 666,545 $ 1,242,397 Furniture and equipment 16,366 16,366 Total 682,911 1,258,763 Less accumulated depreciation and amortization (319,962 ) (805,421 ) Net $ 362,949 $ 453,342

CONVERTIBLE NOTES PAYABLE (Tabl

CONVERTIBLE NOTES PAYABLE (Tables)	3 Months Ended
	Sep. 30, 2020
CONVERTIBLE NOTES PAYABLE (Tables)
Schedule of convertible notes payable	September 30, 2020 June 30, 2020 Debt Debt Principal Discount Net Principal Discount Net BHP Capital NY, Inc. #4 $ - $ - $ - $ 66,000 $ 13,193 $ 52,807 Armada Investment Fund, LLC #5 - - - 20,000 2,739 17,261 Armada Investment Fund, LLC #6 - - - 22,000 4,167 17,833 BHP Capital NY, Inc. #5 83,333 7,540 75,793 83,333 21,141 62,192 BHP Capital NY, Inc. #6 60,500 12,041 48,459 60,500 19,188 41,312 Armada Investment Fund, LLC #7 32,000 2,904 29,096 88,000 28,021 59,979 JSJ Investments Inc. #1 77,000 34,105 42,895 - - - Total $ 252,833 $ 56,590 $ 196,243 $ 339,833 $ 88,449 $ 251,384

DERIVATIVE LIABILITIES (Tables)

DERIVATIVE LIABILITIES (Tables)	3 Months Ended
	Sep. 30, 2020
DERIVATIVE LIABILITIES
Schedule of derivative liabilities	Convertible Common Stock Subscription Total Derivative liabilities at June 30, 2020 $ 163,664 $ 1,170 $ 164,834 Addition to liabilities for new debt 154,822 - 154,822 Decrease due to conversions/assignments (70,296 ) - (70,296 ) Change in fair value (39,658 ) (364 ) (40,022 ) Derivative liabilities at September 30, 2020 $ 208,532 $ 806 $ 209,338

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Derivative liabilities	$ 209,338	$ 164,834
Total liabilities measured at fair value	209,338	164,834
Level 1 [Member]
Derivative liabilities	0	0
Total liabilities measured at fair value	0	0
Level 2 [Member]
Derivative liabilities	0	0
Total liabilities measured at fair value	0	0
Level 3 [Member]
Derivative liabilities	209,338	164,834
Total liabilities measured at fair value	$ 209,338	$ 164,834

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Weighted average number of shares outstanding - basic	111,986,110	35,499,687
Dilutive effect of convertible debt		39,691,943
Dilutive effect of Series B convertible preferred stock		30,000,000
Weighted average number of shares outstanding - diluted	111,986,110	105,191,630

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Unrealized gain on investments	$ 2,521
Loss on disposition of property and equipment	$ 207,281	$ 0

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
GOING CONCERN
Net cash used in operating activities	$ (210,421)	$ (186,661)
Total stockholders' deficit	(252,218)	$ (30,970)	$ (109,603)	$ (1,088,343)
Accumulated deficit	$ (22,453,760)		$ (22,064,982)

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Property and Equipment, Total	$ 682,911	$ 1,258,763
Less accumulated depreciation and amortization	(319,962)	(805,421)
Property and Equipment, Net	362,949	453,342
Cryptocurrency mining equipment [Member]
Property and Equipment, Total	666,545	1,242,397
Furniture and equipment [Member]
Property and Equipment, Total	$ 16,366	$ 16,366

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
PROPERTY AND EQUIPMENT
Depreciation and amortization expense	$ 110,572	$ 144,612

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Annual compensation	$ 150,000
Mr. Rubakh [Member] | Series B Preferred Stock [Member]
Salary expense	37,500	$ 37,500
Due to related party	$ 113,220	$ 122,907

CONVERTIBLE NOTES PAYABLE (Deta

CONVERTIBLE NOTES PAYABLE (Details) - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Principal	$ 252,833	$ 339,833
Debt Discount	56,590	88,449
Net	196,243	251,384
Convertible Notes Payable [Member] | Armada Investment Fund, LLC #7 [Member]
Debt Discount	2,904	28,021
Net	29,096	59,979
Principal	32,000	88,000
Convertible Notes Payable [Member] | BHP Capital NY, Inc. #6 [Member]
Debt Discount	12,041	19,188
Net	48,459	41,312
Principal	60,500	60,500
Convertible Notes Payable [Member] | BHP Capital NY, Inc. #5 [Member]
Debt Discount	7,540	21,141
Net	75,793	62,192
Principal	83,333	83,333
Convertible Notes Payable [Member] | Armada Investment Fund, LLC #6 [Member]
Debt Discount	0	4,167
Net	0	17,833
Principal	0	22,000
Convertible Notes Payable [Member] | Armada Investment Fund, LLC #5 [Member]
Debt Discount	0	2,739
Net	0	17,261
Principal	0	20,000
Convertible Notes Payable [Member] | BHP Capital NY, Inc. #4 [Member]
Debt Discount	0	13,193
Net	0	52,807
Principal	0	66,000
Convertible Notes Payable [Member] | JSJ InvestmentsInc. #1 [Member]
Debt Discount	34,105	0
Net	42,895	0
Principal	$ 77,000	$ 0

CONVERTIBLE NOTES PAYABLE (De_2

CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($)	Aug. 04, 2020	Jul. 06, 2020	Mar. 04, 2020	Feb. 20, 2020	Nov. 21, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Derivative liability						$ 102,003
Principal amount						32,000
Accrued interest						175
debt discount						56,590		$ 88,449
Proceeds from notes payable						319,000	$ 247,000
Amortization of debt discount						91,007	$ 282,390
JSJ Investments Inc [Member]
Derivative liability		$ 42,617				33,581
Principal amount		77,000
Interest rate	8.00%
Debt discount		$ 44,617				10,512
Maturity date		Jul. 6, 2021
Conversion price, description		The conversion price is 70% of the average of the three lowest trading prices of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion
February 4, 2022 [Member]
Derivative liability						112,204
debt discount						$ 139,943
Interest rate						6.00%
Conversion price						70.00%
Amortization of debt discount						$ 14,530
December 2, 2019 [Member]
Derivative liability						$ 66,000
Securities Purchase Agreement with Eagle Equities, LLC [Member]
Interest rate	8.00%					6.00%
Aggregate purchase price	$ 1,000,000
Purchase Agreement description	Eagle has retained the right to purchase the unfunded balance of the Note through February 4, 2022, provided that each purchase must be in an amount of not less than $108,696 ($100,000 after the OID).
Fourth Convertible Promissory Note [Member] | December 2, 2019 [Member] | BHP [Member]
Derivative liability						$ 24,153
Principal amount						66,000
Accrued interest						$ 3,467
Interest rate						8.00%
Original issue discount						$ 6,000
Conversion of fees into common stock						$ 1,000
Maturity date						Dec. 2, 2020
Terms of conversion feature						BHP has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock
Conversion price, description						The conversion price is 70% of the average of the three lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion
Debt discount and premium						$ 31,153
Fifth Convertible Promissory Note [Member] | BHP [Member]
Derivative liability				$ 30,674		36,140
Principal amount				$ 83,333
Accrued interest						4,073
Interest rate				8.00%
Debt discount				$ 40,507
Original issue discount				$ 8,333
Maturity date				Nov. 20, 2020
Terms of conversion feature				BHP has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock
Conversion price, description				The conversion price is 70% of the average of the three lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion
Amortization of debt discount						32,967
Fifth Convertible Promissory Note [Member] | Fourth Armada Note [Member] | November 1, 2019 [Member]
Principal amount						20,000
Fifth Convertible Promissory Note [Member] | Fourth Armada Note [Member] | November 1, 2020 [Member]
Principal amount						20,000
Accrued interest						$ 1,184
Interest rate						8.00%
Debt discount						$ 8,082
Conversion of fees into common stock						$ 500
Conversion price, description						The conversion price is 70% of the average of the five lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion.
Seventh Convertible Promissory Note [Member] | Armada [Member]
Derivative liability			$ 33,408			$ 13,213
Principal amount			$ 88,000			56,000
Accrued interest						3,107
Interest rate			8.00%
Debt discount			$ 41,408			38,504
Original issue discount			$ 8,000
Conversion of fees into common stock						1,000
Maturity date			Mar. 4, 2021
Terms of conversion feature			Armada has the right beginning on the date that is 181 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock.
Conversion price, description			The conversion price is 70% of the average of the five lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion
Sixth Convertible Promissory Note [Member] | BHP [Member]
Derivative liability			$ 22,854			23,595
Principal amount			$ 60,500
Accrued interest						2,785
Interest rate			8.00%
Debt discount			$ 28,354
Original issue discount			$ 5,500
Maturity date			Mar. 4, 2021
Terms of conversion feature			BHP has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock
Conversion price, description			The conversion price is 70% of the average of the five lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion
Amortization of debt discount						16,313
Sixth Convertible Promissory Note [Member] | Amanda [Member]
Derivative liability					$ 8,090
Principal amount					$ 22,000	22,000
Accrued interest						1,109
Interest rate					8.00%
Debt discount					$ 10,590
Original issue discount					$ 2,000
Conversion of fees into common stock						$ 500
Maturity date					Nov. 21, 2020
Terms of conversion feature					Armada has the right beginning on the date that is 31 days following the date of the note to convert principal and accrued interest into shares of the Company’s common stock
Conversions price, description					The conversion price is 70% of the average of the five lowest trading prices (lowest bid prices) of the Company’s common stock during the fifteen trading days ending on the latest complete trading day prior to the date of conversion
Long-Term Convertible Note [Member] | Second Tranche [Member]
Amount recevaviable under second tranche	$ 271,739
Long-Term Convertible Note [Member] | First Tranche [Member]
Principal amount	1,086,957
Amount recevaviable under second tranche	271,739
Proceeds from notes payable	$ 250,000

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	Sep. 10, 2020	Sep. 30, 2020	Jun. 30, 2020
Debt instrument principal amount		$ 32,000
Notes payable		$ 25,405	$ 7,583
Paycheck Protection Program [Member]
Debt interest rate		1.00%
Notes payable		$ 7,583	$ 7,583
Maurity term		2 years
Wattum Management Inc [Member]
Debt instrument maturity date	Oct. 10, 2021
Debt interest rate		10.00%
Debt instrument principal amount	$ 17,822
Repayment of note description		The note is secured by the equipment purchased and is payable in twelve equal consecutive monthly installments of $1,567.

STOCKHOLDERS DEFICIT (Details N

STOCKHOLDERS DEFICIT (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2015	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Jan. 25, 2019	Dec. 21, 2015
Revised authorized preferred shares					20,000,000
Common stock, shares outstanding		116,506,895		103,164,460
Common stock, shares authorised		750,000,000		750,000,000
Common stock, shares issued		116,506,895		103,164,460
Debt conversion converted instrument, principal amount		$ 175,867	$ 272,695
Loss on conversion of debt		0	$ (7,545)
Common stock value		$ 116,508		$ 103,165
Preferred Stock Exchange Agreement [Member]
Common stock, shares issued			5,000,000
Common stock value			$ 399,900
Common Stock [Member]
Common stock, shares issued		10,210,487
Issuance of common shares in conversion of convertible notes payable, shares		13,342,435	5,210,487
Debt conversion converted instrument, principal amount		$ 164,000	$ 263,000
Debt conversion converted instrument, accrued interest		8,867	2,150
Debt conversion converted instrument, conversion fees		3,000
Commonstock shares issued, value			272,695
Loss on conversion of debt			$ (7,545)
Extinguishment of derivative liabilities		$ 70,296
Series A Preferred Stock [Member]
Preferred stock, shares authorized		1,000,000		1,000,000
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		500,000		500,000		500,000
Preferred stock, shares issued		430,000		430,000
Preferred stock, shares outstanding		430,000		430,000
Preferred stock, par value per share		$ 0.001		$ 0.001		$ 0.001
Common stock shares issuable upon conversion of preferred stock						100
Board of Directors [Member] | Series A Preferred Stock [Member]
Common stock voting rights	Holders of the Series A preferred stock have the right to vote in aggregate, on all shareholder matters equal to 1,000 votes per share of Series A preferred stock

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	3 Months Ended
	Sep. 30, 2020
New York [Member]
Operating lease term description	The Carthage power supply and purchase agreement was entered into on May 10, 2019 for an initial term of 90 days, with an option to continue the agreement for a subsequent 36 months, which option the Company has exercised

DERIVATIVE LIABILITIES (Details

DERIVATIVE LIABILITIES (Details)	3 Months Ended
	Sep. 30, 2020USD ($)
Derivative liabilities at Beginning	$ 164,834
Addition to liabilities for new debt	154,822
Decrease due to conversion/assignment	(70,296)
Change in fair value	(40,022)
Derivative liabilities at Ending	209,338
Common Stock Subscription [Member]
Derivative liabilities at Beginning	1,170
Addition to liabilities for new debt	0
Decrease due to conversion/assignment	0
Change in fair value	(364)
Derivative liabilities at Ending	806
Convertible Notes Payable [Member]
Derivative liabilities at Beginning	163,664
Addition to liabilities for new debt	154,822
Decrease due to conversion/assignment	(70,296)
Change in fair value	(39,658)
Derivative liabilities at Ending	$ 208,532

DERIVATIVE LIABILITIES (Detai_2

DERIVATIVE LIABILITIES (Details Narrative)	3 Months Ended
	Sep. 30, 2020
Estimated future financing	100.00%
Input And Assumptions Used For Computing Derivative Liabilities [Member] | Minimum [Member]
Computed volatility ranging	147.00%
Risk-free interest rate	0.07%
Input And Assumptions Used For Computing Derivative Liabilities [Member] | Maximum [Member]
Computed volatility ranging	230.00%
Risk-free interest rate	0.15%

DIGITAL CURRENCY THEFT LOSS (De

DIGITAL CURRENCY THEFT LOSS (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
DIGITAL CURRENCY THEFT LOSS (Details Narrative)
Digital currency theft loss	$ 0	$ 33,037

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Oct. 12, 2020	Oct. 22, 2020	Sep. 30, 2020	Sep. 30, 2019
Proceeds from notes payable			$ 319,000	$ 247,000
Debt conversion converted instrument, principal amount			$ 175,867	$ 272,695
Subsequent Event [Member]
Debt conversion converted instrument, shares issued	5,391,726
Debt conversion converted instrument, principal amount	$ 50,000
Debt conversion converted instrument, accrued interest	4,352
Debt conversion converted instrument, conversion fees	$ 500
Subsequent Event [Member] | Second Tranche [Member]
Amount recevaviable under second tranche		$ 271,739
Proceeds from notes payable		$ 250,000