Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2017 | Oct. 12, 2017 | Dec. 31, 2016 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | APPYEA, INC | ||
Entity Central Index Key | 1,568,969 | ||
Trading Symbol | apyp | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding | 725,104,637 | ||
Entity Public Float | $ 1,100,000 | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2017 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Current Assets: | ||
Cash and cash equivalents | $ 42,567 | $ 14,637 |
Prepaid expenses | 4,167 | |
Total Current Assets | 42,567 | 18,804 |
Fixed assets, net of accumulated depreciation of $218,826 and $175,226 | 39,044 | 82,644 |
TOTAL ASSETS | 81,611 | 101,448 |
Current Liabilities: | ||
Accounts payable | 5,993 | 4,643 |
Accrued salary | 128,000 | 32,000 |
Convertible loans and accrued interest, net of unamortized discounts of $87,240 and $0, respectively | 174,904 | 454 |
Due to related party | 73,608 | |
Derivative liability | 114,316 | 1,452 |
Total Current Liabilities | 496,821 | 38,549 |
Total Liabilities | 496,821 | 38,549 |
Stockholders' Equity (Deficit): | ||
Convertible preferred stock, $0.0001 par value, 5,000,000 shares authorized, 5,000,000 shares issued and outstanding at June 30, 2017 and 2016, respectively | 500 | 500 |
Common stock, $0.0001 par value, 1,500,000,000 shares authorized, 519,973,313 and 464,667,527 shares issued and outstanding at June 30, 2017 and 2016, respectively | 51,997 | 46,466 |
Additional paid-in capital | 4,210,156 | 4,098,473 |
Stock payable | 105,000 | |
Accumulated deficit | (4,782,863) | (4,082,540) |
Total Stockholders' Equity (Deficit) | (415,210) | 62,899 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 81,611 | $ 101,448 |
BALANCE SHEETS (Parentheticals)
BALANCE SHEETS (Parentheticals) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Statement of Financial Position [Abstract] | ||
Accumulated depreciation of fixed assets (in dollars) | $ 218,826 | $ 175,226 |
Convertible loans and accrued interest, net of unamortized discounts (in dollars) | $ 87,240 | $ 0 |
Convertible preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Convertible preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Convertible preferred stock, shares issued | 5,000,000 | 5,000,000 |
Convertible preferred stock, shares outstanding | 5,000,000 | 5,000,000 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,500,000,000 | 750,000,000 |
Common stock, shares issued | 519,973,313 | 464,667,527 |
Common stock, shares outstanding | 519,973,313 | 464,667,527 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement [Abstract] | ||
Revenues | $ 995 | $ 6,083 |
Operating Expenses | ||
Sales and marketing | 6,126 | |
Legal and professional fees | 365,103 | 1,885,063 |
General and administrative | 138,087 | 60,642 |
Loss on sales of fixed assets | 3,913 | |
Depreciation | 43,600 | 67,315 |
Total Operating Expenses | 546,790 | 2,023,059 |
Loss from operations | (545,795) | (2,016,976) |
Other Expense | ||
Change in fair value of derivative liabilities | (108,478) | (633,293) |
Interest expense | (46,050) | (292,049) |
Net Other Expense | (154,528) | (925,342) |
Net Loss | $ (700,323) | $ (2,942,318) |
Net Loss Per Common Share: Basic and Diluted (in dollars per share) | $ 0 | $ (0.02) |
Weighted Average Number of Common Shares Outstanding: Basic and Diluted (in shares) | 470,400,985 | 142,317,965 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Convertible Preferred Stock | Common stock | Additional paid-in capital | Stock payable | Accumulated Deficit | Total |
Balance at Jun. 30, 2015 | $ 500 | $ 3,784 | $ 2,474,909 | $ (1,140,222) | $ 1,338,971 | |
Balance (in shares) at Jun. 30, 2015 | 5,000,000 | 37,847,163 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cancellation of common stock issued for consulting services | $ (172) | 172 | ||||
Cancellation of common stock issued for consulting services (in shares) | (1,723,329) | |||||
Common stock issued for deferred financing cost | $ 10 | 3,840 | 3,850 | |||
Common stock issued for deferred financing cost (in shares) | 100,000 | |||||
Common stock issued for services | $ 770 | 336,730 | 337,500 | |||
Common stock issued for services (in shares) | 7,700,000 | |||||
Common stock issued for conversion of debt and resolution of derivative liabilities | $ 42,074 | 1,282,822 | 1,324,896 | |||
Common stock issued for conversion of debt and resolution of derivative liabilities (in shares) | 420,743,693 | |||||
Net loss for the period | (2,942,318) | (2,942,318) | ||||
Balance at Jun. 30, 2016 | $ 500 | $ 46,466 | 4,098,473 | (4,082,540) | 62,899 | |
Balance (in shares) at Jun. 30, 2016 | 5,000,000 | 464,667,527 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Stock payable for service | $ 105,000 | 105,000 | ||||
Common stock issued for conversion of debt and resolution of derivative liabilities | $ 5,531 | 111,683 | 117,214 | |||
Common stock issued for conversion of debt and resolution of derivative liabilities (in shares) | 55,305,786 | |||||
Net loss for the period | (700,323) | (700,323) | ||||
Balance at Jun. 30, 2017 | $ 500 | $ 51,997 | $ 4,210,156 | $ 105,000 | $ (4,782,863) | $ (415,210) |
Balance (in shares) at Jun. 30, 2017 | 5,000,000 | 519,973,313 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (700,323) | $ (2,942,318) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 43,600 | 67,315 |
Common stock issued for services | 337,500 | |
Common stock payable for services | 105,000 | |
Convertible note issued for services | 25,000 | |
Amortization of stock issued for prepaid services | 1,494,483 | |
Amortization of deferred financing cost | 22,702 | |
Amortization of debt discounts | 27,760 | 248,218 |
Loss on sale of fixed assets | 3,913 | |
Change in fair value of derivative liabilities | 108,478 | 633,293 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 339 | |
Prepaid expenses | 4,167 | (167) |
Accounts payable | 1,350 | 366 |
Accrued salary | 96,000 | 32,000 |
Accrued interest | 18,290 | 21,130 |
Net Cash Used in Operating Activities | (270,678) | (81,226) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceed from sales of fixed assets | 700 | |
Purchase of mobile application software | (20,000) | |
Net cash used in Investing Activities | (19,300) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from convertible notes payable, net of original issue discounts | 225,000 | 133,750 |
Payment of deferred financing costs | (18,852) | |
Proceeds from related party | 98,517 | |
Repayment of loan to related party | (24,909) | |
Net cash provided by Financing Activities | 298,608 | 114,898 |
Net cash increase for period | 27,930 | 14,372 |
Cash at beginning of period | 14,637 | 265 |
Cash at end of period | 42,567 | 14,637 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income taxes | ||
Cash paid for interest | ||
NON CASH INVESTING AND FINANCING ACTIVITIES | ||
Purchase of mobile application software in exchange for a convertible loan | 58,000 | |
Issuance of common stock for deferred financing costs | 3,850 | |
Issuance of common stock for conversion of debt and accrued interest | 31,600 | 342,530 |
Resolution of derivative liability upon conversion of debt | 85,614 | 982,366 |
Derivative liability recognized as debt discount | $ 90,000 | 191,750 |
Cancelation of issuance of common stock for services | $ 172 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 12 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | 1. NATURE OF OPERATIONS AppYea, Inc. ("AppYea", "the Company", "we" or "us") was incorporated in the State of South Dakota on November 26, 2012 to engage in the acquisition, purchase, maintenance and creation of mobile software applications. The Company is in the development stage with no significant revenues and a limited operating history. The Company incorporated a wholly-owned subsidiary, "The Diagnostic Centers Inc." in State of South Dakota on August 2, 2017. On June 9, 2017, the Company entered into a Management Services Agreement (“MSA”) with The Diagnostic Group, LLC, A Delaware limited liability company (“TDG”) under the terms of which, the Company shall perform activities related to direct marketing of TDG products and services to healthcare providers. The initial term of the Agreement will be for thirty-six (36) months from the effective date. The MSA shall automatically renew for successive one (1) year terms, unless either Party gives the other Party ninety (90) days’ written notice of termination prior to the effective date of any renewal term, or unless the MSA is terminated earlier in accordance with Section 6 of the MSA. The Company will be paid for providing services to directly recruited customers at the rate of 35% of the Net Collected Revenue collected from non-federally funded payors by third party providers affiliated or contracted with TDG for ancillary services ordered by recruited customers less any lab specific costs related to any referred samples and/or services and less any refunds or chargebacks. The Company will be paid by the 15th of each month for Net Collected Revenue from the previous month. The Company's common stock is traded on the OTC Markets (www.otcmarkets.com) under the symbol "APYP". The first day of trading on the OTC Markets was December 15, 2014. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company's year-end is June 30. Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles requires that management makes 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 revenues and expenses during the period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturity of three months or less to be cash equivalents. Fixed Assets The Company's fixed assets represent mobile applications that is has purchased and upgrades that it has made to these applications. These mobile applications and any upgrades are being amortized over their useful lives of 3 years. The Company also purchased a pre-owned vehicle. Due to the age of the vehicle, it is being depreciated over the useful life of 3 years. Long-Lived Assets The long-lived assets of the Company are reviewed for impairment in accordance with ASC No. 360, “Property, Plant and Equipment” (“ASC No. 360”), whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During the years ended June 30, 2017 and 2016, no impairment losses have been identified. Stock-based compensation ASC 718 "Compensation – Stock Compensation," prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, "Equity – Based Payments to Non-Employees." Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date. Related Parties The Company follows ASC 850, "Related Party Disclosures," for the identification of related parties and disclosure of related party transactions. See note 11. Financial Instruments and Fair Value Measurements Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. ASC 820-10 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. FASB ASC 820 establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and must be used to measure fair value whenever available. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity's own assumptions about the assumptions that market participants would use in pricing an asset or liability. For example, level 3 inputs would relate to forecasts of future earnings and cash flows used in a discounted future cash flows method. The carrying values of cash, accounts receivable, prepaid expenses, accounts payable, and accruals approximate their fair value due to the short-term maturities of these instruments. Derivative Financial Instruments The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risks. We evaluate all of our financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company used a Black Scholes valuation model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. Revenue Recognition The Company generates it revenue from the sale of its mobile software applications through online mobile applications stores. Revenue is recognized in accordance with Staff Accounting Bulletin ("SAB") No. 104, "Revenue Recognition", when the following criteria are met: persuasive evidence of an arrangement exists, delivery of the product has occurred, the fee is fixed or determinable, and collectability is probable. The Company has no remaining obligation to customers after the date on which its customers purchase its mobile software applications. Research and Development Costs Costs incurred in research and development activities are expensed as incurred. Advertising cost Advertising costs were expensed as incurred. Advertising costs of $0 and $6,126 were incurred during the year ended June 30, 2017 and 2016, respectively. Income Taxes The Company accounts for income taxes in accordance with FASB ASC 740 "Income Taxes". Under FASB ASC 740, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial statement reported amounts at each period end, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized. The provision for income taxes represents the tax expense for the period, if any, and the change during the period in deferred tax assets and liabilities. FASB ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under FASB ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At June 30, 2017 and 2016, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded. Basic and Diluted Net Income (Loss) per Share The Company computes net income (loss) per share in accordance with ASC 260, "Earnings per Share" which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive. During the year ended June 30, 2017 and 2016, there were shares of convertible preferred stock outstanding and conversion privileges attached to convertible promissory notes payable. The common share equivalents of these securities have not been included in the calculations of loss per share because such inclusions would have an anti-dilutive effect as the Company has incurred losses during the year ended June 30, 2017 and 2016. Recent Accounting Pronouncements In September 2017, the FASB has issued Accounting Standards Update (ASU) No. 2017-13, “Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments.” The amendments in ASU No. 2017-13 amends the early adoption date option for certain companies related to the adoption of ASU No. 2014-09 and ASU No. 2016-02. Both of the below entities may still adopt using the public company adoption guidance in the related ASUs, as amended. The effective date is the same as the effective date and transition requirements for the amendments for ASU 2014-09 and ASU 2016-02. In May 2014, the FASB issued some accounting standards update which modifies the requirements for identifying, allocating, and recognizing revenue related to the achievement of performance conditions under contracts with customers. This update also requires additional disclosure related to the nature, amount, timing, and uncertainty of revenue that is recognized under contracts with customers. This guidance is effective for fiscal and interim periods beginning after December 15, 2017 and is required to be applied retrospectively to all revenue arrangements. The adoption of this guidance is not expected to have a significant impact on the Company’s consolidated financial statements. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial statements. |
GOING CONCERN AND LIQUIDITY
GOING CONCERN AND LIQUIDITY | 12 Months Ended |
Jun. 30, 2017 | |
Going Concern And Liquidity [Abstract] | |
GOING CONCERN AND LIQUIDITY | 3. GOING CONCERN AND LIQUIDITY At June 30, 2017, the Company had cash of $42,567 and current liabilities of $496,821 and had a working capital deficit of $454,254 and an accumulated deficit of $4,782,863. The Company anticipates future losses in its business. These conditions raise substantial doubt regarding the Company’s ability to continue as a going concern. In our financial statements for the year ended June 30, 2017, the Report of the Independent Registered Public Accounting Firm includes an explanatory paragraph that describes substantial doubt about our ability to continue as a going concern. The Company's ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that this series of events will be satisfactorily completed. |
PREPAID EXPENSES
PREPAID EXPENSES | 12 Months Ended |
Jun. 30, 2017 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
PREPAID EXPENSES | 4. PREPAID EXPENSES At June 30, 2017 and 2016, prepaid expenses totaled $0 and $4,167, respectively; and consisted of the OTC Markets annual fee with a balance of $4,167 as at June 30, 2016. Consulting fee for the year ended June 30, 2016 On March 9, 2015, the Company entered into a consulting agreement with the Cicero Consulting Group, LLC for the term of 12 months, and automatically renew for an additional 12 months unless terminated by the Company. The Company valued this agreement in accordance with ASC 505-50 as an Equity-Based Payment to Non-Employees at the current market price of the common stock. The Company paid the consultant a commencement fee in the form of 1,723,329 shares of restricted common stock at the current market price, as of March 9, 2015, of $1.02. In October 2015, the Company and Cicero Consulting Group, LLC agreed to terminate the agreement, and Cicero Consulting Group, LLC agreed to return and cancel the shares. As a result, we fully recognized the remaining prepaid expense of $732,415 as consulting fees and reversed common stock of $172. During the year ended June 30, 2016, the prepaid amount of $1,171,864 was fully expensed. On May 6, 2015, the Company entered into a consulting agreement with the Alex Consulting, Inc. for the term of one year or until the terms of this Agreement has been satisfied, whichever comes first. The Company valued this agreement in accordance with ASC 505-50 as an Equity-Based Payment to Non-Employees at the current market price of the common stock. The Company paid the consultant a commencement fee in the form of 700,000 shares of restricted common stock at the current market price, as of May 6, 2015, of $0.51. The prepaid amount of $314,942 was fully expensed from January 1, 2015, to May 5, 2016. On May 18, 2015, the Company entered into a consulting agreement with the SmallCapVoice.com, Inc. for the term of three months commencing on August 18, 2015. The Company valued this agreement in accordance with ASC 505-50 as an Equity-Based Payment to Non-Employees at the current market price of the common stock. The Company paid a monthly fee of $2,500 and a onetime issuance of 28,000 shares of restricted common stock at the current market price, as of May 18, 2015, of $0.51. The Company recognized a prepaid expense balance $9,177, which was fully expensed from July 1, 2015 to August 18, 2015. $7,677 is amortization of stock issued for prepaid services, and $1,500 is prepaid cash. |
FIXED ASSETS
FIXED ASSETS | 12 Months Ended |
Jun. 30, 2017 | |
Property, Plant and Equipment [Abstract] | |
FIXED ASSETS | 5. FIXED ASSETS As at June 30, 2017 and 2016, the balance of fixed assets represented a vehicle and mobile application software as follows: June 30, June 30, Mobile applications $ 257,870 $ 257,870 Accumulated depreciation (218,826 ) (175,226 ) Fixed assets, net $ 39,044 $ 82,644 During the year ended June 30, 2016, the Company purchased mobile applications for $78,000, funded by way of a convertible loan of $58,000 and cash of $20,000 on October 15, 2015 (Note 6). During the year ended June 30, 2016, the Company sold the automobile with net book value of $4,613 for $700 cash, resulting in a loss of $3,913. Depreciation expense for the year ended June 30, 2017 and 2016 was $43,600 and $67,315, respectively. |
CONVERTIBLE LOANS
CONVERTIBLE LOANS | 12 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE LOANS | 6. CONVERTIBLE LOANS At June 30, 2017 and 2016, convertible loans consisted of the following: June 30, June 30, March 2015 Note $ - $ - November 2016 Note 250,877 - Total convertible notes payable 250,877 - Accrued interest 11,267 454 Less: Unamortized debt discount (87,240 ) - Total convertible notes 174,904 454 Less: current portion of convertible notes 174,904 454 Long-term convertible notes $ - $ - During the year ended June 30, 2017 and 2016, the Company recognized amortization of discount, included in interest expense, of $27,760 and $248,218, respectively. April 2013 Note On April 2, 2013, the Company issued a $15,000 convertible promissory note payable. The unsecured convertible promissory note payable is due upon demand and carried an interest rate of 12% per annum. The note payable is convertible at the option of the holder, at 50% of the lowest traded price for the 20 days preceding conversion as posted on the OTC Markets or on such US National Exchange upon which the Company may be listed. On July 24, 2014, the Company repaid $1,000 in respect of this convertible note payable leaving an outstanding principle balance of $14,000 in respect of the promissory note. Effective April 2, 2013, the Company recorded no beneficial conversion expense on the conversion feature as the specific conversion price was currently not determinable. However, effective December 15, 2014 the Company's shares of common stock became publicly quoted and accordingly we evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the first day the shares were publicly quoted (December 15, 2014) at $21,736 using the Black Scholes valuation model. $17,020 included accrued interest of $3,020 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $4,716 of the value assigned to the derivative liability was expensed on the first day the shares became publicly traded. During the year ended June 30, 2016, $14,000 of the convertible note and accrued interest of $5,703 were converted into 6,788,959 common shares and the Company amortized $3,462 of the debt discount and reclassed the derivative liability on the date of conversion of $65,947 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest and unamortized debt discount were $0. Debt discount of $7,092 was amortized for year ended June 30, 2016. January 2014 Note On January 9, 2014, the Company issued a $10,000 convertible promissory note payable. The unsecured convertible promissory note payable has a 12-month term and carries an interest rate of 8% per annum. The note payable is convertible at the option of the holder, at 50% of the lowest traded price for the 60 days preceding conversion as posted on the OTC Markets or on such US National Exchange upon which the Company may be listed. Effective January 9, 2014, the Company recorded no beneficial conversion expense on the conversion feature as the specific conversion price was currently not determinable. However, effective December 15, 2014 the Company's shares of common stock became publicly quoted and accordingly we evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the first day the shares were publicly quoted (December 15, 2014) at $13,722 using the Black Scholes valuation model. $10,745 included accrued interest of $745 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $2,977 of the value assigned to the derivative liability was expensed on the first day the shares became publicly traded. On August 6, 2015, the convertible note of $10,000 and accrued interest of $1,530 was converted into 768,720 common shares and the Company amortized the remaining debt discount of $3,403 and reclassed the fair value of the derivative liability on the date of conversion of $45,518 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest and unamortized debt discount were $0. Debt discount of $4,477 was amortized for the year ended June 30, 2016. October 2014 Note On October 15, 2014, as part of its acquisition of a social networking mobile application and a vehicle, the Company agreed to pay $60,000 on a deferred basis in a convertible promissory note payable for a term of 12 months and carried an interest rate of 7% per annum. The unsecured note payable is convertible at the option of the holder at a 45% discount to the lowest closing bid price for the Company's common stock during the 20 trading days immediately preceding the conversion date. Effective October 15, 2014, the Company recorded no beneficial conversion expense on the conversion feature as the specific conversion price is currently not determinable. However, effective December 15, 2014 the Company's shares of common stock became publicly quoted and accordingly we evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the first day the shares were publicly quoted (December 15, 2014) at $62,415 using the Black Scholes valuation model. $60,702 included accrued interest of $702 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $1,713 of the value assigned to the derivative liability was expensed on the first day the shares became publicly traded. On June 16, 2015, $30,000 of the convertible note was converted into 652,174 common shares of the Company. During the year ended June 30, 2016, $30,000 of the convertible note and accrued interest of $3,544 were converted into 16,480,000 common shares and the Company amortized $715 of the debt discount and reclassed the derivative liability on the date of conversion of $141,939 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest and unamortized debt discount were $0. Debt discount of $9,211 was amortized for year ended June 30, 2016. February 2015 Note On February 9, 2015, the Company issued a $15,000 convertible promissory note payable. The unsecured convertible promissory note payable is due upon demand and carried an interest rate of 12% per annum. The note payable is convertible at the option of the holder, at 50% of the lowest traded price for the 60 days preceding conversion as posted on the OTC Markets or on such US National Exchange upon which the Company may be listed. Effective February 9, 2015, the Company evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the issue date (February 9, 2015) at $21,817 using the Black Scholes valuation model. $15,000 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $6,817 of the value assigned to the derivative liability was expensed on the issue date of the convertible note payable. On August 18, 2015, the convertible note of $15,000 and accrued interest of $651 was converted into 1,043,398 common shares and the Company amortized $6,750 of the debt discount and reclassed the derivative liability on the date of conversion of $42,350 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest and unamortized debt discount were $0. Debt discount of $8,750 was amortized for the year ended June 30, 2016. March 2015 Note On March 13, 2015, the Company issued a $10,000 convertible promissory note payable. The unsecured convertible promissory note payable is due upon demand and carries an interest rate of 12% per annum. The note payable is convertible at the option of the holder, at 50% of the lowest traded price for the 60 days preceding conversion as posted on the OTC Markets or on such US National Exchange upon which the Company may be listed. Effective March 13, 2015, the Company evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the issue date (March 13, 2015) at $14,552 using the Black Scholes valuation model. $10,000 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $4,552 of the value assigned to the derivative liability was expensed on the issue date of the convertible note. During the year ended June 30, 2016, $10,000 of the convertible note and accrued interest of $992 were converted into 13,950,000 common shares and the Company amortized $1,667 of the debt discount and reclassed the derivative liability on the date of conversion of $29,121 to additional paid-in capital. As of June 30, 2017 and 2016, the outstanding principal balance of the note was $0, the note had accrued interest of $454 and an unamortized debt discount of $0. Debt discount of $6,667 was amortized for year ended June 30, 2016. April 2015 Note On April 9, 2015, the Company issued a $10,000 convertible promissory note payable. The unsecured convertible promissory note payable is due upon demand and carries an interest rate of 12% per annum. The note payable is convertible at the option of the holder, at 50% of the lowest traded price for the 30 days preceding conversion as posted on the OTC Markets or on such US National Exchange upon which the Company may be listed. Effective April 9, 2015, the Company evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the issue date (April 9, 2015) at $16,215 using the Black Scholes valuation model. $10,000 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $6,215 of the value assigned to the derivative liability was expensed on the issue date of the convertible note. During the year ended June 30, 2016, $10,000 of the convertible note and accrued interest of $1,269 were converted into 9,854,055 common shares and the Company amortized $3,500 of the debt discount and reclassed the derivative liability on the date of conversion of $36,758 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest and unamortized debt discount were $0. Debt discount of $7,500 was amortized for year ended June 30, 2016. August 2015 Note On August 13, 2015, the Company issued a $25,000 convertible promissory note payable. The unsecured convertible promissory note payable is due upon demand and carries an interest rate of 8% per annum. The note payable is convertible at the option of the holder, at the lower of i) the closing sale price of the common stock on the principal market on the trading day and ii) 50% of the lowest sale price for the 30 consecutive trading. Effective August 13, 2015, the Company evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company paid cash fees to this lender of $3,500 recognized as an original issue discount to the note. The Company valued the conversion feature at the issue date (August 13, 2015) at $60,723 using the Black Scholes valuation model. $21,500 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $39,223 of the value assigned to the derivative liability was expensed on the issue date of the convertible note. During the year ended June 30, 2016, $25,000 of the convertible note and accrued interest of $6,592 were converted into 64,111,259 common shares and the Company amortized $7,035 of the debt discount and reclassed the derivative liability on the date of conversion of $136,594 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest and unamortized debt discount were $0. Debt discount of $25,000 was amortized for year ended June 30, 2016. September 2015 Note - 1 On September 9, 2015, the Company issued a $27,000 convertible promissory note payable and incurred $2,000 financing costs to a third party which were recognized as deferred financing costs. The unsecured convertible promissory note payable is due upon demand and carries an interest rate of 8% per annum. The note payable is convertible at the option of the holder, at 55% of the lowest trading price for the 20 prior trading days as reported on the OTC Markets, or any exchange upon which the common stock may be traded in the future. On September 9, 2015 the Company agreed to issue a $27,000 convertible note payable, the back end note. On May 10, 2016, the Company issued $27,000 back end note and incurred $2,000 financing costs to a third party which were recognized as deferred financing costs. Effective September 9, 2015 and May 10, 2016, the Company evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the issue date (September 9, 2015 and May 10, 2016) at $41,070 and $68,279, respectively, using the Black Scholes valuation model. Both of $27,000 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $14,070 and $41,279 of the value assigned to the derivative liability were expensed on the issue date of the convertible note. During the year ended June 30, 2016, total of $54,000 of the convertible note and accrued interest of $1,314 were converted into 89,931,307 common shares and the Company amortized $36,908 of the debt discount and reclassed the derivative liability on the date of conversion of $123,804 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest, unamortized debt discount and deferred financing costs were $0. Debt discount of $54,000 and deferred financing cost of $2,000 were amortized for year ended June 30, 2016. September 2015 Note - 2 On September 9, 2015, the Company issued a $35,750 convertible promissory note payable and incurred $2,750 financing costs to a third party which were recognized as deferred financing costs. The unsecured convertible promissory note payable is due upon demand and carries an interest rate of 10% per annum. The note payable is convertible at the option of the holder, at the lesser of i) 50% multiplied by the lowest trading price during the previous 25 trading day period ending on the latest complete trading day prior the date of this Note and ii) the 50% multiplied by the lowest trading price for the common stock during the 25 trading day period ending on the latest complete trading day prior to the conversion date as reported on the OTC Markets, or applicable trading market. Effective September 9, 2015, the Company evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company paid cash fees to this lender of $2,500 recognized as an original issue discount to the note. The Company valued the conversion feature at the issue date (September 9, 2015) at $71,483 using the Black Scholes valuation model. $33,250 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $38,233 of the value assigned to the derivative liability was expensed on the issue date of the convertible note. During the year ended June 30, 2016, the convertible note of $35,750 and accrued interest of $1,976 was converted into 55,160,266 common shares and the Company amortized $6,380 of the debt discount and reclassed the derivative liability on the date of conversion of $99,840 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest, unamortized debt discount and deferred financing costs were $0. Debt discount of $35,750 and deferred financing cost of $2,750 were amortized for year ended June 30, 2016. October 2015 Note On October 14, 2015, the Company issued a $58,000 convertible promissory note payable and paid $20,000 cash to purchase mobile applications. The unsecured convertible promissory note payable is due upon demand and carries an interest rate of 15% per annum. The note payable is convertible at a 45% of the lowest closing bid price for the Company’s common stock during the 20 trading days immediately preceding a conversion date. Effective October 14, 2015, the Company evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the issue date (October 14, 2015) at $463,519 using the Black Scholes valuation model. $58,000 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $405,518 of the value assigned to the derivative liability was expensed on the issue date of the convertible note. During the year ended June 30, 2016, the convertible note of $58,000 and accrued interest of $5,197 were converted into 80,433,334 common shares and the Company amortized $19,333 of the debt discount and reclassed the derivative liability on the date of conversion of $105,837 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest and unamortized debt discount were $0. Debt discount of $58,000 was amortized for year ended June 30, 2016. November 2015 Note On November 25, 2015, the Company issued a $25,000 convertible promissory note payable and incurred $2,000 financing costs to a third party which were recognized as deferred financing costs. The unsecured convertible promissory note payable is due upon demand and carries an interest rate of 10% per annum. The note payable is convertible at 50% of the lowest daily trading price, determined on the then current trading market for the Company's common stock, for 15 trading days prior to conversion at the option of the Holder, in whole at any time and from time to time. Effective November 25, 2015, the Company evaluated the terms of the conversion features of the convertible debenture in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity's Own Stock and determined it is indexed to the Company's common stock and that the conversion features meet the definition of a liability and therefore bifurcated the conversion feature and accounted for it as a separate derivative liability. The Company valued the conversion feature at the issue date (November 25, 2015) at $50,366 using the Black Scholes valuation model. $25,000 of the value assigned to the derivative liability was recognized as a debt discount on the convertible debenture. The debt discount was recorded as a reduction (contra-liability) to the convertible debenture and is being amortized over the life of the convertible debenture. The balance of $25,366 of the value assigned to the derivative liability was expensed on the issue date of the convertible note. During the year ended June 30, 2016, the convertible note of $25,000 and accrued interest of $1,351 were converted into 61,661,344 common shares and the Company amortized $5,556 of the debt discount and reclassed the derivative liability on the date of conversion of $55,003 to additional paid-in capital. As of June 30, 2016, the outstanding principal balance of the note, accrued interest, unamortized debt discount and deferred financing costs were $0. Debt discount of $25,000 and deferred financing cost of $2,000 were amortized for year ended June 30, 2016. November 2016 Note 1 On November 15, 2016, the Company entered into four separate agreements with Greentree Financial Group, Inc., consisting of a Financial Advisory Agreement, a Loan Agreement, a Convertible Promissory Note, and a Warrant. The Loan Agreement allows for the Company to borrow up to $250,000 from Greentree, which will be evidenced by various promissory notes, which will automatically mature 12 months from the date of applicable Note, will accrue interest at a rate of 12% per annum, and will include an original issuance discount (“OID”) of 10%. In addition, the promissory notes will be convertible at a price equal to 55% of the lowest trading price during the 10 trading days immediately prior to a conversion date. The conversion price shall not be lower than $0.0001. Note may not be converted prior to 6 months from its issuance. There is a 10% prepayment penalty associated with each of the promissory notes. Each promissory note conversion shall result in $1,500 being added to the principal of each promissory note converted. An initial promissory note of $100,000 was issued on November 15, 2016. The warrant issued to Greentree allows for the purchase of up to 5,000,000 shares of the Company’s common stock for a three year period, expiring on November 15, 2019, with an exercise price of $0.03 per share. The warrants also contain a cashless exercise feature, based on a cashless exercise formula. The Company determined that the exercise feature of the warrants met the definition of a liability in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity’s Own Stock. The Company will bifurcate the embedded conversion option in the note once the note becomes convertible and account for it as a derivative liability. The fair value of the warrants was recorded as a debt discount being amortized to interest expense over the term of the note. On January 26, 2017 and June 30, 2017, the Company issued convertible note of $75,000 and $75,000 according to the loan agreement on November 15, 2016. During the year ended June 30, 2017, the Company issued a total of $250,000 notes and received $225,000 in cash and recognized OID of $25,000. During the year ended June 30, 2017, a total of $37,000 note principal was assigned to two lenders under the same term and conversion price. November 2016 Note 2 On November 15, 2016, the Company also issued note of $25,000 for a financial advisory service, which will automatically mature 6 months from the date of applicable Note, will accrue interest at a rate of 12% per annum. In addition, the promissory notes will be convertible at a price equal to 55% of the lowest trading price during the 10 trading days immediately prior to a conversion date. The conversion price shall not be lower than $0.0001. There is a 10% prepayment penalty associated with each of the promissory notes. Each promissory note conversion shall result in $1,500 being added to the principal of each promissory note converted. The Company valued the conversion feature using the Black Scholes valuation model. The fair value of the derivative liability for all the note and warrants that became convertible for the year ended June 30, 2017 amounted to $331,959. $90,000 of the value assigned to the derivative liability was recognized as a debt discount to the notes while the balance of $241,959 was recognized as a “day 1” derivative loss. During the year ended June 30, 2017, the Company converted notes with principal amounts and accrued interest of $31,600 into 55,305,786 shares of common stock. The corresponding derivative liability at the date of conversion of $85,614was credited to additional paid in capital. Deferred Financing Costs In connection with the convertible notes issued in September 2015, November 2015, May 2016 and October 2014 Note – Related party, the Company paid cash commissions of $10,692. In addition, the Company paid cash fees of $8,160 and issued an aggregate of 100,000 common shares valued at $3,850 as commissions for all of the convertible loans issued during the year ended June 30, 2016. These aggregate fees of $22,702 were recognized as deferred financing costs which are being amortized to interest expense over the life of the notes. Aggregate amortization recognized during the year ended June 30, 2016, was $22,702, and the unamortized balance of deferred financing costs was $0 as of June 30, 2016. Warrants A summary of activity during the year ended June 30, 2017 follows: Warrant Outstanding Shares Weighted Average Exercise Price Outstanding, June 30, 2016 - $ - Granted 5,000,000 0.03 Exercised - - Forfeited/canceled - - Outstanding, June 30, 2017 5,000,000 $ 0.03 The following table summarizes information relating to outstanding and exercisable warrants as of June 30, 2017: Warrants Outstanding Warrants Exercisable Number of Weighted Average Remaining Contractual life Weighted Average Number of Weighted Average Shares (in years) Exercise Price Shares Exercise Price 5,000,000 2.38 $ 0.03 5,000,000 $ 0.03 |
DERIVATIVE LIABILITIES
DERIVATIVE LIABILITIES | 12 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE LIABILITIES | 7. DERIVATIVE LIABILITIES The Company analyzed the conversion option for derivative accounting consideration under ASC 815, Derivatives and Hedging, and hedging, and determined that the instrument should be classified as a liability since the conversion option becomes effective at issuance resulting in there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. Fair Value Assumptions Used in Accounting for Derivative Liabilities. ASC 815 requires we assess the fair market value of derivative liability at the end of each reporting period and recognize any change in the fair market value as other income or expense item. The Company determined our derivative liabilities to be a Level 3 fair value measurement and used the Black-Scholes pricing model to calculate the fair value as of June 30, 2017. The Black-Scholes model requires six basic data inputs: the exercise or strike price, time to expiration, the risk free interest rate, the current stock price, the estimated volatility of the stock price in the future, and the dividend rate. Changes to these inputs could produce a significantly higher or lower fair value measurement. The fair value of each convertible note is estimated using the Black-Scholes valuation model. At June 30, 2017, the estimated fair values of the liabilities measured on a recurring basis are as follows: Year Ended Year Ended June 30, 2017 June 30, 2016 Expected term 0.38 – 2.38 years 0.00 - 1.00 years Expected average volatility 235%-288 % 25%-1,390 % Expected dividend yield - - Risk-free interest rate 1.14%-1.38 % 0.00%-0.57% % At June 30, 2017, the estimated fair values of the liabilities measured on a recurring basis are as follows: Fair Value Measurements at June 30, 2017 June 30, Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 2015 Note $ 907 $ - $ - $ 907 November 2016 Note 1 103,365 - - 103,365 November 2016 Note 2 6,536 - - 6,536 Warrants -Issued in fiscal year 2017 3,508 - - 3,508 Total liabilities $ 114,316 $ - $ - $ 114,316 The following table summarizes the changes in the derivative liabilities during the year ended June 30, 2017 and 2016: Fair Value Measurements Using Significant Observable Inputs (Level 3) Balance - June 30, 2015 $ 158,775 Addition of new derivative recognized as debt discounts 191,750 Addition of new derivatives recognized as loss on derivatives 563,691 Settled on issuance of common stock (982,366 ) Loss on change in fair value of the derivative 69,602 Balance - June 30, 2016 $ 1,452 Addition of new derivatives recognized as debt discounts 90,000 Addition of new derivatives recognized as loss on derivatives 241,959 Settled on issuance of common stock (85,614 ) Gain on change in fair value of the derivative (133,481 ) Balance - June 30, 2017 $ 114,316 The aggregate loss on derivatives during the year ended June 30, 2017 and 2016 was $108,478 and $633,293. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 9. COMMITMENTS AND CONTINGENCIES Leases and Long term Contracts The Company has not entered into any long-term leases, contracts or commitments. Legal To the best of the Company's knowledge and belief, no legal proceedings are currently pending or threatened. Rent As of January 30, 2013, the Company leases office space at $200 per month with three-month terms, which shall be automatically extended for successive three-month periods unless there is the notice to cancel. The lease can be cancelled at any time by either party with 30 days’ notice prior to expiration of an applicable term. For the years ended June 30, 2017 and 2016, the Company incurred $2,426 and $2,496, respectively. |
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY | 12 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
SHAREHOLDERS' EQUITY | 10. SHAREHOLDERS' EQUITY Amendment to Articles of Incorporation or Bylaws On July 6, 2017, the Company filed a Certificate of Amendment with the state of South Dakota, to the Company’s Articles of Incorporation, to increase in the number of authorized shares of its common stock from 750,000,000 to 1,500,000,000, par value $0.0001. Convertible Preferred Stock The Company is authorized to issue 5,000,000 shares of convertible preferred stock at a par value of $0.0001. Each convertible preferred share is convertible into 1,500 shares of common stock and has the voting rights of 1,000 shares of common stock. As at June 30, 2017 and 2016, 5,000,000 shares of the Company's convertible preferred stock were issued and outstanding. Common Stock During the year ended June 30, 2017, an aggregate of 55,305,786 common shares were issued for the conversion of debt and accrued interest of $31,600, and released derivative liabilities of $85,614 to paid-in capital. During the year ended June 30, 2016, the Company issued common shares, as follows: · In July 2015, the Company issued 2,400,000 shares of common stock valued at $288,000 to Alex Castle Rock Resources, LLC and 300,000 shares of common stock valued at $39,000 to Gilles Trahan in exchange for consulting services. The fair value of these shares was expensed during the year ended June 30, 2016. · In addition, the Company issued 100,000 shares of common stock valued at $3,850 to Almorli Advisors for loan commissions which were recognized as deferred financing costs, and will be amortized during the life of the loan. · In October 2015, 1,723,329 shares of common stock were cancelled, previously issued to the Cicero Consulting Group, LLC in March 2015. · On February 29, 2016, the Company issued 5,000,000 shares of common stock to its interim CEO with a fair value of $10,500 for services performed as acting CEO. · During the year ended June 30, 2016, an aggregate of 420,743,693 common shares were issued for the conversion of debt and accrued interest of $342,530, and released derivative liabilities of $982,366 to paid-in capital. As at June 30, 2017 and 2016, 519,973,313 and 464,667,527 shares of the Company's common stock were issued and outstanding, respectively. Stock payable The Company had insufficient authorized shares as of June 30, 2017 and as a result, the Company had $105,000 in stock payable for which it is obligated to issue 55,000,000 shares of common stock for consulting services. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 11. RELATED PARTY TRANSACTIONS In March 2016, the Company appointed current CEO and approved a base compensation package of $8,000 per month for CEO. The President of the Company provided management and office premises to the Company for no compensation in 2015. As of June 30, 2017, and 2016, the Company recorded accrued salary of $128,000 and $32,000. During the year ended June 30, 2017, the Company borrowed a total amount of $98,517 from Evergreen Venture Partners LLC (“EVP”), which the CEO is the majority owner, and repaid $24,909. This loan is a non-interest bearing and due on demand. As of June 30, 2017, and 2016, the Company owed EVP, a related party $73,608 and $0, respectively. During the year ended June 30, 2016, the former president paid accounts payable of $2,688 on behalf of the Company and the Company repaid $2,688. As of June 30, 2017 and 2016, the balance due to a related party was $0, respectively. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 12. INCOME TAXES The Company follows ASC 740. Deferred income taxes reflect the net effect of (a) temporary difference between carrying amounts of assets and liabilities for financial purposes and the amounts used for income tax reporting purposes, and (b) net operating loss carry-forwards. No net provision for refundable Federal income tax has been made in the accompanying statement of loss because no recoverable taxes were paid previously. Similarly, no deferred tax asset attributable to the net operating loss carry-forward has been recognized, as it is not deemed likely to be realized. The provision for refundable federal income tax at 35% consists of the following for the periods ending: June 30, June 30, Federal income tax benefit attributed to: Net operating loss $ 160,587 $ 72,142 Valuation (160,587 ) (72,142 ) Net benefit $ - $ - The cumulative tax effect at the expected rate of 35% of significant items comprising our net deferred tax amount is as follows: June 30, June 30, Deferred tax attributed: Net operating loss carryover $ 336,934 $ 176,347 Less: change in valuation allowance (336,934 ) (176,347 ) Net deferred tax asset $ - $ - As at June 30, 2017, the Company had an unused net operating loss (“NOL”) carry-forward of approximating $962,669 that is available to offset future taxable income; the loss carry-forward will start to expire in 2033. The utilization of these NOLs may become subject to limitations based on past and future changes in ownership of the Company pursuant to Internal Revenue Code Section 382. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Jun. 30, 2017 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 12. SUBSEQUENT EVENTS Subsequent to June 30, 2017, the Company issued common shares as follow; · 175,131,324 shares of common stock for conversion of debt and accrued interest of $69,284. · 30,000,000 shares of common stock which is recorded as stock payable Subsequent to June 30, 2017, a total of $19,000 note principal was assigned to two lenders under the same term and conversion price. |
SUMMARY OF SIGNIFICANT ACCOUN19
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (POLICIES) | 12 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company's year-end is June 30. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles requires that management makes 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 revenues and expenses during the period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with original maturity of three months or less to be cash equivalents. |
Fixed Assets | Fixed Assets The Company's fixed assets represent mobile applications that is has purchased and upgrades that it has made to these applications. These mobile applications and any upgrades are being amortized over their useful lives of 3 years. The Company also purchased a pre-owned vehicle. Due to the age of the vehicle, it is being depreciated over the useful life of 3 years. |
Long-Lived Assets | Long-Lived Assets The long-lived assets of the Company are reviewed for impairment in accordance with ASC No. 360, “Property, Plant and Equipment” (“ASC No. 360”), whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During the years ended June 30, 2017 and 2016, no impairment losses have been identified. |
Stock-based compensation | Stock-based compensation ASC 718 "Compensation – Stock Compensation," prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, "Equity – Based Payments to Non-Employees." Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date. |
Related Parties | Related Parties The Company follows ASC 850, "Related Party Disclosures," for the identification of related parties and disclosure of related party transactions. See note 11. |
Financial Instruments and Fair Value Measurements | Financial Instruments and Fair Value Measurements Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. ASC 820-10 establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. FASB ASC 820 establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and must be used to measure fair value whenever available. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity's own assumptions about the assumptions that market participants would use in pricing an asset or liability. For example, level 3 inputs would relate to forecasts of future earnings and cash flows used in a discounted future cash flows method. The carrying values of cash, accounts receivable, prepaid expenses, accounts payable, and accruals approximate their fair value due to the short-term maturities of these instruments. |
Derivative Financial Instruments | Derivative Financial Instruments The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risks. We evaluate all of our financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company used a Black Scholes valuation model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. |
Revenue Recognition | Revenue Recognition The Company generates it revenue from the sale of its mobile software applications through online mobile applications stores. Revenue is recognized in accordance with Staff Accounting Bulletin ("SAB") No. 104, "Revenue Recognition", when the following criteria are met: persuasive evidence of an arrangement exists, delivery of the product has occurred, the fee is fixed or determinable, and collectability is probable. The Company has no remaining obligation to customers after the date on which its customers purchase its mobile software applications. |
Research and Development Costs | Research and Development Costs Costs incurred in research and development activities are expensed as incurred. |
Advertising cost | Advertising cost Advertising costs were expensed as incurred. Advertising costs of $0 and $6,126 were incurred during the year ended June 30, 2017 and 2016, respectively. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with FASB ASC 740 "Income Taxes". Under FASB ASC 740, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial statement reported amounts at each period end, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amounts expected to be realized. The provision for income taxes represents the tax expense for the period, if any, and the change during the period in deferred tax assets and liabilities. FASB ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under FASB ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. At June 30, 2017 and 2016, a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded. |
Basic and Diluted Net Income (Loss) per Share | Basic and Diluted Net Income (Loss) per Share The Company computes net income (loss) per share in accordance with ASC 260, "Earnings per Share" which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive. During the year ended June 30, 2017 and 2016, there were shares of convertible preferred stock outstanding and conversion privileges attached to convertible promissory notes payable. The common share equivalents of these securities have not been included in the calculations of loss per share because such inclusions would have an anti-dilutive effect as the Company has incurred losses during the year ended June 30, 2017 and 2016. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In September 2017, the FASB has issued Accounting Standards Update (ASU) No. 2017-13, “Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments.” The amendments in ASU No. 2017-13 amends the early adoption date option for certain companies related to the adoption of ASU No. 2014-09 and ASU No. 2016-02. Both of the below entities may still adopt using the public company adoption guidance in the related ASUs, as amended. The effective date is the same as the effective date and transition requirements for the amendments for ASU 2014-09 and ASU 2016-02. In May 2014, the FASB issued some accounting standards update which modifies the requirements for identifying, allocating, and recognizing revenue related to the achievement of performance conditions under contracts with customers. This update also requires additional disclosure related to the nature, amount, timing, and uncertainty of revenue that is recognized under contracts with customers. This guidance is effective for fiscal and interim periods beginning after December 15, 2017 and is required to be applied retrospectively to all revenue arrangements. The adoption of this guidance is not expected to have a significant impact on the Company’s consolidated financial statements. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial statements. |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Property, Plant and Equipment [Abstract] | |
Schedule of fixed assets | June 30, June 30, Mobile applications $ 257,870 $ 257,870 Accumulated depreciation (218,826 ) (175,226 ) Fixed assets, net $ 39,044 $ 82,644 |
CONVERTIBLE LOANS (Tables)
CONVERTIBLE LOANS (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of convertible loans | June 30, June 30, March 2015 Note $ - $ - November 2016 Note 250,877 - Total convertible notes payable 250,877 - Accrued interest 11,267 454 Less: Unamortized debt discount (87,240 ) - Total convertible notes 174,904 454 Less: current portion of convertible notes 174,904 454 Long-term convertible notes $ - $ - |
Schedule of warrants activity | Warrant Outstanding Shares Weighted Average Exercise Price Outstanding, June 30, 2016 - $ - Granted 5,000,000 0.03 Exercised - - Forfeited/canceled - - Outstanding, June 30, 2017 5,000,000 $ 0.03 |
Schedule of outstanding and exercisable warrants | Warrants Outstanding Warrants Exercisable Number of Weighted Average Remaining Contractual life Weighted Average Number of Weighted Average Shares (in years) Exercise Price Shares Exercise Price 5,000,000 2.38 $ 0.03 5,000,000 $ 0.03 |
DERIVATIVE LIABILITIES (Tables)
DERIVATIVE LIABILITIES (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of weighted-average assumptions used for options granted | Year Ended Year Ended June 30, 2017 June 30, 2016 Expected term 0.38 – 2.38 years 0.00 - 1.00 years Expected average volatility 235%-288 % 25%-1,390 % Expected dividend yield - - Risk-free interest rate 1.14%-1.38 % 0.00%-0.57% % |
Schedule of estimated fair values of the liabilities measured on a recurring basis | Fair Value Measurements at June 30, 2017 June 30, Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) March 2015 Note $ 907 $ - $ - $ 907 November 2016 Note 1 103,365 - - 103,365 November 2016 Note 2 6,536 - - 6,536 Warrants -Issued in fiscal year 2017 3,508 - - 3,508 Total liabilities $ 114,316 $ - $ - $ 114,316 |
Schedule of derivative liabilities included in the balance sheet | Fair Value Measurements Using Significant Observable Inputs (Level 3) Balance - June 30, 2015 $ 158,775 Addition of new derivative recognized as debt discounts 191,750 Addition of new derivatives recognized as loss on derivatives 563,691 Settled on issuance of common stock (982,366 ) Loss on change in fair value of the derivative 69,602 Balance - June 30, 2016 $ 1,452 Addition of new derivatives recognized as debt discounts 90,000 Addition of new derivatives recognized as loss on derivatives 241,959 Settled on issuance of common stock (85,614 ) Gain on change in fair value of the derivative (133,481 ) Balance - June 30, 2017 $ 114,316 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision for refundable federal income tax | June 30, June 30, Federal income tax benefit attributed to: Net operating loss $ 160,587 $ 72,142 Valuation (160,587 ) (72,142 ) Net benefit $ - $ - |
Schedule of net deferred tax amount | June 30, June 30, Deferred tax attributed: Net operating loss carryover $ 336,934 $ 176,347 Less: change in valuation allowance (336,934 ) (176,347 ) Net deferred tax asset $ - $ - |
NATURE OF OPERATIONS (Details)
NATURE OF OPERATIONS (Details) | Jun. 09, 2017 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Percentage of net collected revenue paid to recruited customers | 35.00% |
SUMMARY OF SIGNIFICANT ACCOUN25
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Property, Plant and Equipment [Line Items] | ||
Advertising costs | $ 0 | $ 6,126 |
Mobile applications and upgrades | ||
Property, Plant and Equipment [Line Items] | ||
Useful lives | 3 years | |
Vehicles | ||
Property, Plant and Equipment [Line Items] | ||
Useful lives | 3 years |
GOING CONCERN AND LIQUIDITY (De
GOING CONCERN AND LIQUIDITY (Detail Textuals) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Going Concern And Liquidity [Abstract] | |||
Cash | $ 42,567 | $ 14,637 | $ 265 |
Current liabilities | 496,821 | 38,549 | |
Working capital deficit | (454,254) | ||
Accumulated deficit | $ (4,782,863) | $ (4,082,540) |
PREPAID EXPENSES (Detail Textua
PREPAID EXPENSES (Detail Textuals) - USD ($) | May 06, 2015 | Mar. 09, 2015 | Oct. 31, 2015 | May 18, 2015 | Jun. 30, 2017 | Jun. 30, 2016 |
Prepaid Expenses [Line Items] | ||||||
Prepaid expenses | $ 4,167 | |||||
OTC markets annual fee | 4,167 | |||||
Reverse common stock | 172 | |||||
Professional Fees | $ 365,103 | 1,885,063 | ||||
Stock issued for prepaid services | 337,500 | |||||
Consulting agreement | Cicero Consulting Group, LLC | ||||||
Prepaid Expenses [Line Items] | ||||||
Prepaid expenses | $ 1,171,864 | |||||
Prepaid consulting fee expense | $ 732,415 | |||||
Term of agreement | 12 months | |||||
Additional term of agreement | 12 months | |||||
Number of shares of restricted common stock issued as commencement fee | 1,723,329 | |||||
Current market price (in dollars per share) | $ 1.02 | |||||
Reverse common stock | $ 172 | |||||
Consulting agreement | Alex Consulting, Inc. | ||||||
Prepaid Expenses [Line Items] | ||||||
Term of agreement | 1 year | |||||
Number of shares of restricted common stock issued as commencement fee | 700,000 | |||||
Current market price (in dollars per share) | $ 0.51 | |||||
Consulting agreement | Alex Consulting, Inc. | Period from January 1, 2015 to May 5, 2016 | ||||||
Prepaid Expenses [Line Items] | ||||||
Prepaid expenses | $ 314,942 | |||||
Consulting agreement | SmallCapVoice.co, Inc. | ||||||
Prepaid Expenses [Line Items] | ||||||
Term of agreement | 3 months | |||||
Number of shares of restricted common stock issued as commencement fee | 28,000 | |||||
Current market price (in dollars per share) | $ 0.51 | |||||
Professional Fees | $ 2,500 | |||||
Stock issued for prepaid services | 7,677 | |||||
Prepaid cash | 1,500 | |||||
Consulting agreement | SmallCapVoice.co, Inc. | Period from July 1, 2015 to August 18, 2015 | ||||||
Prepaid Expenses [Line Items] | ||||||
Prepaid expenses | $ 9,177 |
FIXED ASSETS - Fixed assets bal
FIXED ASSETS - Fixed assets balance of mobile application software (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Property, Plant and Equipment [Abstract] | ||
Mobile applications | $ 257,870 | $ 257,870 |
Accumulated depreciation | (218,826) | (175,226) |
Fixed assets, net | $ 39,044 | $ 82,644 |
FIXED ASSETS (Detail Textuals)
FIXED ASSETS (Detail Textuals) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Property, Plant and Equipment [Abstract] | ||
Total purchase amount to acquire mobile application | $ 78,000 | |
Purchase of mobile application software in exchange for a convertible loan | 58,000 | |
Purchase of mobile application in cash | 20,000 | |
Net book value of automobile sold | 4,613 | |
Proceed from sales of automobile | 700 | |
Loss on sales of automobile | (3,913) | |
Depreciation expense | $ 43,600 | $ 67,315 |
CONVERTIBLE LOANS (Details)
CONVERTIBLE LOANS (Details) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 | Mar. 13, 2015 |
Short-term Debt [Line Items] | |||
Total convertible notes payable | $ 250,877 | ||
Accrued interest | 11,267 | $ 454 | |
Less: Unamortized debt discount | (87,240) | ||
Total convertible notes | 174,904 | 454 | |
Less: current portion of convertible notes | 174,904 | 454 | |
Long-term convertible notes | |||
Convertible promissory note payable | March 2015 Note | |||
Short-term Debt [Line Items] | |||
Total convertible notes payable | |||
Accrued interest | 454 | 454 | |
Less: Unamortized debt discount | $ (10,000) | ||
Convertible promissory note payable | November 2016 Note | |||
Short-term Debt [Line Items] | |||
Total convertible notes payable | 250,877 | ||
Less: Unamortized debt discount | $ (25,000) |
CONVERTIBLE LOANS (Details 1)
CONVERTIBLE LOANS (Details 1) - Warrant | 12 Months Ended |
Jun. 30, 2017$ / sharesshares | |
Warrant Outstanding, Shares | |
Outstanding, June 30, 2016 | shares | |
Granted | shares | 5,000,000 |
Exercised | shares | |
Forfeited/canceled | shares | |
Outstanding, June 30, 2017 | shares | 5,000,000 |
Warrant Outstanding, Weighted Average Exercise Price | |
Outstanding, June 30, 2016 | $ / shares | |
Granted | $ / shares | 0.03 |
Exercised | $ / shares | |
Forfeited/canceled | $ / shares | |
Outstanding, June 30, 2017 | $ / shares | $ 0.03 |
CONVERTIBLE LOANS (Details 2)
CONVERTIBLE LOANS (Details 2) - Warrant - $ / shares | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Class of Warrant or Right [Line Items] | ||
Warrants Outstanding, Number of Shares | 5,000,000 | |
Warrants Outstanding, Weighted Average Remaining Contractual life (in years) | 2 years 4 months 17 days | |
Warrants Outstanding, Weighted Average Exercise Price | $ 0.03 | |
Warrants Exercisable, Number of Shares | 5,000,000 | |
Warrants Exercisable, Weighted Average Exercise Price | $ 0.03 |
CONVERTIBLE LOANS (Detail Textu
CONVERTIBLE LOANS (Detail Textuals) | Aug. 06, 2015USD ($)shares | Oct. 15, 2014USD ($)Day | Jan. 09, 2014USD ($)Day | Apr. 02, 2013USD ($)Day | Jul. 24, 2014USD ($) | Jun. 16, 2014USD ($)shares | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($)shares |
Short-term Debt [Line Items] | ||||||||
Convertible promissory note payable, issued | $ 37,000 | |||||||
Unamortized debt discount | 87,240 | |||||||
Accrued interest | 11,267 | 454 | ||||||
Amortization of debt discounts | $ 27,760 | 248,218 | ||||||
Convertible promissory note payable | April 2013 Note | ||||||||
Short-term Debt [Line Items] | ||||||||
Convertible promissory note payable, issued | $ 15,000 | |||||||
Interest rate | 12.00% | |||||||
Discount percentage of lowest traded price | 50.00% | |||||||
Number of trading days for lowest traded price | Day | 20 | |||||||
Repayments of convertible debt in cash | $ 1,000 | |||||||
Outstanding principle balance of debt | $ 14,000 | 0 | ||||||
Conversion features, value | $ 21,736 | |||||||
Valuation techniques | Black Scholes valuation model | |||||||
Unamortized debt discount | $ 17,020 | |||||||
Derivative liability | 4,716 | 65,947 | ||||||
Accrued interest | $ 3,020 | |||||||
Debt instrument amount converted | 14,000 | |||||||
Debt instrument interest converted | $ 5,703 | |||||||
Number of common stock issued upon conversion of debt | shares | 6,788,959 | |||||||
Unamortized debt discount | $ 0 | |||||||
Amortization of debt discounts | 3,462 | |||||||
Amortized debt discount | 7,092 | |||||||
Convertible promissory note payable | January 2014 Note | ||||||||
Short-term Debt [Line Items] | ||||||||
Convertible promissory note payable, issued | $ 10,000 | |||||||
Debt instrument, term | 12 months | |||||||
Interest rate | 8.00% | |||||||
Discount percentage of lowest traded price | 50.00% | |||||||
Number of trading days for lowest traded price | Day | 60 | |||||||
Outstanding principle balance of debt | 0 | |||||||
Conversion features, value | $ 13,722 | |||||||
Valuation techniques | Black Scholes valuation mode | |||||||
Unamortized debt discount | $ 10,745 | |||||||
Derivative liability | $ 45,518 | 2,977 | ||||||
Accrued interest | $ 745 | 0 | ||||||
Debt instrument amount converted | 10,000 | |||||||
Debt instrument interest converted | $ 1,530 | |||||||
Number of common stock issued upon conversion of debt | shares | 768,720 | |||||||
Unamortized debt discount | $ 3,403 | 0 | ||||||
Amortized debt discount | 4,477 | |||||||
Convertible promissory note payable | October 2014 Note | ||||||||
Short-term Debt [Line Items] | ||||||||
Convertible promissory note payable, issued | $ 60,000 | |||||||
Debt instrument, term | 12 months | |||||||
Interest rate | 7.00% | |||||||
Discount percentage of lowest traded price | 45.00% | |||||||
Number of trading days for lowest traded price | Day | 20 | |||||||
Conversion features, value | $ 62,415 | |||||||
Valuation techniques | Black Scholes valuation model | |||||||
Unamortized debt discount | $ 60,702 | |||||||
Derivative liability | 1,713 | |||||||
Accrued interest | $ 702 | |||||||
Debt instrument amount converted | $ 30,000 | 30,000 | ||||||
Debt instrument interest converted | $ 3,544 | |||||||
Number of common stock issued upon conversion of debt | shares | 652,174 | 16,480,000 | ||||||
Unamortized debt discount | $ 0 | |||||||
Amortization of debt discounts | 715 | |||||||
Amortized debt discount | $ 9,211 |
CONVERTIBLE LOANS (Detail Tex34
CONVERTIBLE LOANS (Detail Textuals 1) | Oct. 14, 2015USD ($)Day | Aug. 13, 2015USD ($)Day | Apr. 09, 2015USD ($)Day | Mar. 13, 2015USD ($)Day | Feb. 09, 2015USD ($)Day | Oct. 15, 2014USD ($)Day | Nov. 25, 2015USD ($)Day | Aug. 18, 2015USD ($)shares | Jun. 16, 2014USD ($)shares | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($)shares |
Short-term Debt [Line Items] | |||||||||||
Convertible promissory note payable, issued | $ 37,000 | ||||||||||
Debt discount | 87,240 | ||||||||||
Accrued interest | 11,267 | 454 | |||||||||
Amortization of debt discounts | 27,760 | 248,218 | |||||||||
Convertible promissory note payable | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Unamortized balance of deferred financing costs | 0 | ||||||||||
Cash fees paid in connection with convertible notes issued | $ 8,160 | ||||||||||
Shares issued as commissions for all convertible loans issued (in shares) | shares | 100,000 | ||||||||||
Shares issued as commissions for all convertible loans issued (in shares) | $ 3,850 | ||||||||||
Amortization of deferred financing costs | 22,702 | ||||||||||
Convertible promissory note payable | September 2015 | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Cash commissions paid | 10,692 | ||||||||||
Convertible promissory note payable | November 2015 Note | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Convertible promissory note payable, issued | $ 25,000 | ||||||||||
Cash paid to purchase mobile applications | $ 2,000 | ||||||||||
Interest rate | 10.00% | ||||||||||
Discount percentage of lowest traded price | 50.00% | ||||||||||
Number of trading days for lowest traded price | Day | 15 | ||||||||||
Outstanding principle balance of debt | 0 | ||||||||||
Conversion features, value | $ 50,366 | ||||||||||
Valuation techniques | Black Scholes valuation mode | ||||||||||
Debt discount | $ 25,000 | ||||||||||
Derivative liability | $ 25,366 | 55,003 | |||||||||
Accrued interest | 0 | ||||||||||
Debt instrument amount converted | 25,000 | ||||||||||
Debt instrument interest converted | $ 1,351 | ||||||||||
Number of common stock issued upon conversion of debt | shares | 61,661,344 | ||||||||||
Unamortized debt discount | $ 0 | ||||||||||
Deferred financing costs | 0 | ||||||||||
Amortization of debt discounts | 5,556 | ||||||||||
Amortized debt discount | 25,000 | ||||||||||
Cash commissions paid | 10,692 | ||||||||||
Amortization of deferred financing costs | 2,000 | ||||||||||
Convertible promissory note payable | May 2016 | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Cash commissions paid | 10,692 | ||||||||||
Convertible promissory note payable | October 2014 Note - Related party | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Convertible promissory note payable, issued | $ 60,000 | ||||||||||
Interest rate | 7.00% | ||||||||||
Discount percentage of lowest traded price | 45.00% | ||||||||||
Number of trading days for lowest traded price | Day | 20 | ||||||||||
Conversion features, value | $ 62,415 | ||||||||||
Valuation techniques | Black Scholes valuation model | ||||||||||
Debt discount | $ 60,702 | ||||||||||
Derivative liability | 1,713 | ||||||||||
Accrued interest | $ 702 | ||||||||||
Debt instrument amount converted | $ 30,000 | 30,000 | |||||||||
Debt instrument interest converted | $ 3,544 | ||||||||||
Number of common stock issued upon conversion of debt | shares | 652,174 | 16,480,000 | |||||||||
Unamortized debt discount | $ 0 | ||||||||||
Amortization of debt discounts | 715 | ||||||||||
Amortized debt discount | 9,211 | ||||||||||
Cash commissions paid | 10,692 | ||||||||||
Convertible promissory note payable | February 2015 Note | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Convertible promissory note payable, issued | $ 15,000 | ||||||||||
Interest rate | 12.00% | ||||||||||
Discount percentage of lowest traded price | 50.00% | ||||||||||
Number of trading days for lowest traded price | Day | 60 | ||||||||||
Outstanding principle balance of debt | 0 | ||||||||||
Conversion features, value | $ 21,817 | ||||||||||
Valuation techniques | Black Scholes valuation model | ||||||||||
Debt discount | $ 15,000 | ||||||||||
Derivative liability | $ 6,817 | $ 42,350 | |||||||||
Accrued interest | 0 | ||||||||||
Debt instrument amount converted | 15,000 | ||||||||||
Debt instrument interest converted | $ 651 | ||||||||||
Number of common stock issued upon conversion of debt | shares | 1,043,398 | ||||||||||
Unamortized debt discount | 0 | ||||||||||
Amortization of debt discounts | $ 6,750 | ||||||||||
Amortized debt discount | 8,750 | ||||||||||
Convertible promissory note payable | March 2015 Note | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Convertible promissory note payable, issued | $ 10,000 | ||||||||||
Interest rate | 12.00% | ||||||||||
Discount percentage of lowest traded price | 50.00% | ||||||||||
Number of trading days for lowest traded price | Day | 60 | ||||||||||
Outstanding principle balance of debt | 0 | 0 | |||||||||
Conversion features, value | $ 14,552 | ||||||||||
Valuation techniques | Black Scholes valuation model | ||||||||||
Debt discount | $ 10,000 | ||||||||||
Derivative liability | $ 4,552 | 29,121 | |||||||||
Accrued interest | 454 | 454 | |||||||||
Debt instrument amount converted | 10,000 | ||||||||||
Debt instrument interest converted | $ 992 | ||||||||||
Number of common stock issued upon conversion of debt | shares | 13,950,000 | ||||||||||
Unamortized debt discount | $ 0 | $ 0 | |||||||||
Amortization of debt discounts | 1,667 | ||||||||||
Amortized debt discount | 6,667 | ||||||||||
Convertible promissory note payable | April 2015 Note | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Convertible promissory note payable, issued | $ 1,000 | ||||||||||
Interest rate | 12.00% | ||||||||||
Discount percentage of lowest traded price | 50.00% | ||||||||||
Number of trading days for lowest traded price | Day | 30 | ||||||||||
Outstanding principle balance of debt | 0 | ||||||||||
Conversion features, value | $ 16,215 | ||||||||||
Valuation techniques | Black Scholes valuation model | ||||||||||
Debt discount | $ 10,000 | ||||||||||
Derivative liability | $ 6,215 | 36,758 | |||||||||
Accrued interest | 0 | ||||||||||
Debt instrument amount converted | 10,000 | ||||||||||
Debt instrument interest converted | $ 1,269 | ||||||||||
Number of common stock issued upon conversion of debt | shares | 9,854,055 | ||||||||||
Unamortized debt discount | $ 0 | ||||||||||
Amortization of debt discounts | 3,500 | ||||||||||
Amortized debt discount | 7,500 | ||||||||||
Convertible promissory note payable | August 2015 Note | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Convertible promissory note payable, issued | $ 25,000 | ||||||||||
Interest rate | 8.00% | ||||||||||
Discount percentage of lowest traded price | 50.00% | ||||||||||
Number of trading days for lowest traded price | Day | 30 | ||||||||||
Outstanding principle balance of debt | 0 | ||||||||||
Conversion features, value | $ 60,723 | ||||||||||
Valuation techniques | Black Scholes valuation model | ||||||||||
Debt discount | $ 21,500 | ||||||||||
Derivative liability | 39,223 | 136,594 | |||||||||
Accrued interest | 0 | ||||||||||
Debt instrument amount converted | 25,000 | ||||||||||
Debt instrument interest converted | $ 6,592 | ||||||||||
Number of common stock issued upon conversion of debt | shares | 64,111,259 | ||||||||||
Unamortized debt discount | $ 0 | ||||||||||
Amortization of debt discounts | 7,035 | ||||||||||
Amortized debt discount | 25,000 | ||||||||||
Cash fees paid in connection with convertible notes issued | $ 3,500 | ||||||||||
Convertible promissory note payable | October 2015 Note | |||||||||||
Short-term Debt [Line Items] | |||||||||||
Convertible promissory note payable, issued | $ 58,000 | ||||||||||
Cash paid to purchase mobile applications | $ 20,000 | ||||||||||
Interest rate | 15.00% | ||||||||||
Discount percentage of lowest traded price | 45.00% | ||||||||||
Number of trading days for lowest traded price | Day | 20 | ||||||||||
Outstanding principle balance of debt | 0 | ||||||||||
Conversion features, value | $ 463,519 | ||||||||||
Valuation techniques | Black Scholes valuation model | ||||||||||
Debt discount | $ 58,000 | ||||||||||
Derivative liability | $ 405,518 | 105,837 | |||||||||
Accrued interest | 0 | ||||||||||
Debt instrument amount converted | 58,000 | ||||||||||
Debt instrument interest converted | $ 5,197 | ||||||||||
Number of common stock issued upon conversion of debt | shares | 80,433,334 | ||||||||||
Unamortized debt discount | $ 0 | ||||||||||
Amortization of debt discounts | 19,333 | ||||||||||
Amortized debt discount | $ 58,000 |
CONVERTIBLE LOANS (Detail Tex35
CONVERTIBLE LOANS (Detail Textuals 2) | May 10, 2016USD ($) | Sep. 09, 2015USD ($)Day | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($)shares |
Short-term Debt [Line Items] | ||||
Convertible promissory note payable, issued | $ 37,000 | |||
Unamortized debt discount | 87,240 | |||
Accrued interest | 11,267 | 454 | ||
Amortization of debt discounts | $ 27,760 | 248,218 | ||
Convertible promissory note payable | ||||
Short-term Debt [Line Items] | ||||
Cash fees paid in connection with convertible notes issued | 8,160 | |||
Amortization of deferred financing costs | 22,702 | |||
Convertible promissory note payable | September 2015 Note - 1 | ||||
Short-term Debt [Line Items] | ||||
Convertible promissory note payable, issued | $ 27,000 | |||
Deferred financing costs | $ 2,000 | |||
Interest rate | 8.00% | |||
Discount percentage of lowest traded price | 55.00% | |||
Number of trading days for lowest traded price | Day | 20 | |||
Conversion features, value | $ 68,279 | $ 41,070 | ||
Valuation techniques | Black Scholes valuation model | Black Scholes valuation model | ||
Unamortized debt discount | $ 27,000 | $ 27,000 | ||
Derivative Liability | $ 41,279 | 14,070 | 123,804 | |
Accrued interest | 0 | |||
Debt instrument amount converted | 54,000 | |||
Debt instrument interest converted | $ 1,314 | |||
Number of common stock issued upon conversion of debt | shares | 89,931,307 | |||
Unamortized debt discount | $ 0 | |||
Deferred financing costs | 0 | |||
Amortization of debt discounts | 36,908 | |||
Amortized debt discount | 54,000 | |||
Amortization of deferred financing costs | 2,000 | |||
Convertible promissory note payable | September 2015 Note - 2 | ||||
Short-term Debt [Line Items] | ||||
Convertible promissory note payable, issued | 35,750 | |||
Deferred financing costs | $ 2,750 | |||
Interest rate | 10.00% | |||
Discount percentage of lowest traded price | 50.00% | |||
Number of trading days for lowest traded price | Day | 25 | |||
Outstanding principle balance of debt | 0 | |||
Conversion features, value | $ 71,483 | |||
Valuation techniques | Black Scholes valuation model | |||
Cash fees paid in connection with convertible notes issued | $ 2,500 | |||
Unamortized debt discount | 33,250 | |||
Derivative Liability | $ 38,233 | 99,840 | ||
Accrued interest | 0 | |||
Debt instrument amount converted | 35,750 | |||
Debt instrument interest converted | $ 1,976 | |||
Number of common stock issued upon conversion of debt | shares | 55,160,266 | |||
Unamortized debt discount | $ 0 | |||
Deferred financing costs | 0 | |||
Amortization of debt discounts | 6,380 | |||
Amortized debt discount | 35,750 | |||
Amortization of deferred financing costs | $ 2,750 |
CONVERTIBLE LOANS (Detail Tex36
CONVERTIBLE LOANS (Detail Textuals 3) | 1 Months Ended | 12 Months Ended | ||
Nov. 15, 2016USD ($)DayMonth$ / sharesshares | Jun. 30, 2017USD ($)Lendershares | Jun. 30, 2016USD ($) | Jan. 26, 2017USD ($) | |
Short-term Debt [Line Items] | ||||
Investment Income, Investment Expense | $ 46,050 | $ 292,049 | ||
Amortization of debt discounts | 27,760 | 248,218 | ||
Convertible promissory note payable, issued | 37,000 | |||
Convertible note issued for services | 25,000 | |||
Debt discount | 87,240 | |||
Total convertible notes | $ 174,904 | 454 | ||
Number of lender for notes payable principal assignment | Lender | 2 | |||
Convertible promissory note payable | ||||
Short-term Debt [Line Items] | ||||
Investment Income, Investment Expense | $ 18,290 | $ 21,129 | ||
Convertible promissory note payable | November 2016 Note | ||||
Short-term Debt [Line Items] | ||||
Convertible promissory note payable, issued | 75,000 | $ 75,000 | ||
Cash | 225,000 | |||
Debt discount | 25,000 | |||
Convertible promissory note payable | November 2016 Note 2 | ||||
Short-term Debt [Line Items] | ||||
Convertible promissory note payable, issued | $ 25,000 | |||
Interest rate | 12.00% | |||
Discount percentage of lowest traded price | 55.00% | |||
Number of trading days for lowest traded price | Day | 10 | |||
Notes convertible, threshold consecutive period | Month | 6 | |||
Conversion price per share | $ / shares | $ 0.0001 | |||
Conversion features, value | $ 1,500 | |||
Percentage of prepayments penalty with each promissory note conversion | 10.00% | |||
Derivative liability | $ 331,959 | 85,614 | ||
Debt discount | 90,000 | |||
Loss on derivatives | 241,959 | |||
Total convertible notes | $ 31,600 | |||
Common stock issued on conversion of notes payable | shares | 55,305,786 | |||
Greentree Financial Group Inc | Convertible promissory note payable | November 2016 Note | ||||
Short-term Debt [Line Items] | ||||
Convertible promissory note payable, issued | $ 250,000 | $ 250,000,000 | ||
Interest rate | 12.00% | |||
Discount percentage of lowest traded price | 55.00% | 55.00% | ||
Number of trading days for lowest traded price | Day | 10 | |||
Notes convertible, threshold consecutive period | Month | 6 | |||
Conversion price per share | $ / shares | $ 0.0001 | |||
Conversion features, value | $ 1,500 | |||
Percentage of issuance discount on note | 10.00% | |||
Percentage of prepayments penalty with each promissory note conversion | 10.00% | |||
Notes issued | $ 100,000 | |||
Convertible note issued for services | $ 25,000 | |||
Valuation techniques | Black Scholes valuation mode | |||
Number of common stock called by warrants | shares | 5,000,000 | |||
Exercise price | $ / shares | $ 0.03 |
DERIVATIVE LIABILITIES (Details
DERIVATIVE LIABILITIES (Details) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative [Line Items] | ||
Expected dividend yield | ||
Minimum | ||
Derivative [Line Items] | ||
Expected term | 4 months 17 days | 0 years |
Expected average volatility | 235.00% | 25.00% |
Risk-free interest rate | 1.14% | 0.00% |
Maximum | ||
Derivative [Line Items] | ||
Expected term | 2 years 4 months 17 days | 1 year |
Expected average volatility | 288.00% | 1390.00% |
Risk-free interest rate | 1.38% | 0.57% |
DERIVATIVE LIABILITIES (Detai38
DERIVATIVE LIABILITIES (Details 1) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 |
Derivatives, Fair Value [Line Items] | |||
Derivative liability | $ 114,316 | $ 1,452 | |
Recurring basis | Quoted Prices in Active Markets (Level 1) | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Quoted Prices in Active Markets (Level 1) | March 2015 Note | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Quoted Prices in Active Markets (Level 1) | November 2016 Note 1 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Quoted Prices in Active Markets (Level 1) | November 2016 Note 2 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Quoted Prices in Active Markets (Level 1) | Warrants -Issued in fiscal year 2017 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Significant Other Observable Inputs (Level 2) | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Significant Other Observable Inputs (Level 2) | March 2015 Note | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Significant Other Observable Inputs (Level 2) | November 2016 Note 1 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Significant Other Observable Inputs (Level 2) | November 2016 Note 2 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Significant Other Observable Inputs (Level 2) | Warrants -Issued in fiscal year 2017 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | |||
Recurring basis | Significant Unobservable Inputs (Level 3) | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 114,316 | $ 1,452 | $ 158,775 |
Recurring basis | Significant Unobservable Inputs (Level 3) | March 2015 Note | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 907 | ||
Recurring basis | Significant Unobservable Inputs (Level 3) | November 2016 Note 1 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 103,365 | ||
Recurring basis | Significant Unobservable Inputs (Level 3) | November 2016 Note 2 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 6,536 | ||
Recurring basis | Significant Unobservable Inputs (Level 3) | Warrants -Issued in fiscal year 2017 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 3,508 | ||
Recurring basis | Estimated fair values | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 114,316 | ||
Recurring basis | Estimated fair values | March 2015 Note | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 907 | ||
Recurring basis | Estimated fair values | November 2016 Note 1 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 103,365 | ||
Recurring basis | Estimated fair values | November 2016 Note 2 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | 6,536 | ||
Recurring basis | Estimated fair values | Warrants -Issued in fiscal year 2017 | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability | $ 3,508 |
DERIVATIVE LIABILITIES (Detai39
DERIVATIVE LIABILITIES (Details 2) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative Liability [Roll Forward] | ||
Balance | $ 1,452 | |
Addition of new derivative recognized as debt discounts | 225,000 | $ 133,750 |
Balance | 114,316 | 1,452 |
Recurring basis | Significant Unobservable Inputs (Level 3) | ||
Derivative Liability [Roll Forward] | ||
Balance | 1,452 | 158,775 |
Addition of new derivative recognized as debt discounts | 90,000 | 191,750 |
Addition of new derivatives recognized as loss on derivatives | 241,959 | 563,691 |
Settled on issuance of common stock | (85,614) | (982,366) |
Loss (Gain) on change in fair value of the derivative | (133,481) | 69,602 |
Balance | $ 114,316 | $ 1,452 |
DERIVATIVE LIABILITIES (Detail
DERIVATIVE LIABILITIES (Detail Textuals) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Aggregate loss on derivatives | $ (108,478) | $ (633,293) |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Detail Textuals) - USD ($) | 1 Months Ended | 12 Months Ended | |
Jan. 30, 2013 | Jun. 30, 2017 | Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Lease and rental expense | $ 200 | $ 2,426 | $ 2,496 |
Leases, term of contract | 3 months | ||
Description of lease term | three-month terms, which shall be automatically extended for successive three-month periods unless there is the notice to cancel. The lease can be cancelled at any time by either party with 30 days' notice prior to expiration of an applicable term |
SHAREHOLDERS' EQUITY (Detail Te
SHAREHOLDERS' EQUITY (Detail Textuals) - USD ($) | May 06, 2015 | Mar. 09, 2015 | Feb. 29, 2016 | Oct. 31, 2015 | Jul. 31, 2015 | May 18, 2015 | Jun. 30, 2017 | Jun. 30, 2016 |
Shareholders Equity [Line Items] | ||||||||
Convertible preferred stock, shares authorized | 5,000,000 | 5,000,000 | ||||||
Convertible preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | ||||||
Convertible preferred stock, number of shares issued on conversion | 1,500 | |||||||
Convertible preferred stock, voting rights | voting rights of 1,000 shares of common stock | |||||||
Convertible preferred stock, shares issued | 5,000,000 | 5,000,000 | ||||||
Convertible preferred stock, shares outstanding | 5,000,000 | 5,000,000 | ||||||
Common stock, shares authorized | 1,500,000,000 | 750,000,000 | ||||||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | ||||||
Amount of common stock issued for services | $ 337,500 | |||||||
Number of common shares issued for conversion of debt and accrued interest | 175,131,324 | |||||||
Amount of common shares issued for conversion of debt and accrued interest | $ 69,284 | |||||||
Common stock, shares issued | 519,973,313 | 464,667,527 | ||||||
Common stock, shares outstanding | 519,973,313 | 464,667,527 | ||||||
Accrued interest | $ 11,267 | $ 454 | ||||||
Number of common stock issued for conversion of debt and accrued interest | 55,305,786 | 420,743,693 | ||||||
Value of common stock for conversion of debt and accrued interest | $ 31,600 | $ 342,530 | ||||||
Stock payable for service | $ 105,000 | |||||||
Number of shares payable for service | 55,000,000 | |||||||
Notes Reduction | $ 85,614 | $ 982,366 | ||||||
Consulting agreement | Gilles Trahan | ||||||||
Shareholders Equity [Line Items] | ||||||||
Number of common stock issued for services | 300,000 | |||||||
Amount of common stock issued for services | $ 39,000 | |||||||
Consulting agreement | CEO | ||||||||
Shareholders Equity [Line Items] | ||||||||
Number of common stock issued for services | 5,000,000 | |||||||
Amount of common stock issued for services | $ 10,500 | |||||||
Consulting agreement | Cicero Consulting Group, LLC | ||||||||
Shareholders Equity [Line Items] | ||||||||
Number of common stock Cancelled | 1,723,329 | |||||||
Common stock issued for cash, price per share | $ 1.02 | |||||||
Number of shares of restricted common stock issued | 1,723,329 | |||||||
Term of agreement | 12 months | |||||||
Additional term of agreement | 12 months | |||||||
Consulting agreement | Alex Castle Rock Resources, LLC | ||||||||
Shareholders Equity [Line Items] | ||||||||
Number of common stock issued for services | 2,400,000 | |||||||
Amount of common stock issued for services | $ 288,000 | |||||||
Consulting agreement | SmallCapVoice.co, Inc. | ||||||||
Shareholders Equity [Line Items] | ||||||||
Amount of common stock issued for services | $ 7,677 | |||||||
Common stock issued for cash, price per share | $ 0.51 | |||||||
Number of shares of restricted common stock issued | 28,000 | |||||||
Term of agreement | 3 months | |||||||
Consulting agreement | Almorli Advisors | ||||||||
Shareholders Equity [Line Items] | ||||||||
Number of common stock issued for services | 100,000 | |||||||
Amount of common stock issued for services | $ 3,850 | |||||||
Consulting agreement | Alex Consulting, Inc. | ||||||||
Shareholders Equity [Line Items] | ||||||||
Common stock issued for cash, price per share | $ 0.51 | |||||||
Number of shares of restricted common stock issued | 700,000 | |||||||
Term of agreement | 1 year |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Detail Textuals) - USD ($) | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Related Party Transaction [Line Items] | |||
Accrued salary | $ 128,000 | $ 32,000 | |
Borrowing from EVP | 98,517 | ||
Repayment of loan to related party | 24,909 | ||
Due to related party | $ 73,608 | ||
CEO | |||
Related Party Transaction [Line Items] | |||
Base compensation package per month | $ 8,000 | ||
Former president | |||
Related Party Transaction [Line Items] | |||
Amount of accounts payable paid by former president on behalf of company | $ 2,688 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Federal income tax benefit attributed to: | ||
Net operating loss | $ 160,587 | $ 72,142 |
Valuation | (160,587) | (72,142) |
Net benefit |
INCOME TAXES (Details 1)
INCOME TAXES (Details 1) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Deferred tax attributed: | ||
Net operating loss carryover | $ 336,934 | $ 176,347 |
Less: change in valuation allowance | (336,934) | (176,347) |
Net deferred tax asset |
INCOME TAXES (Detail Textuals)
INCOME TAXES (Detail Textuals) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||
Federal income tax rate | 35.00% | 35.00% |
Net operating loss carry forward | $ 962,669 |
SUBSEQUENT EVENTS (Detail Textu
SUBSEQUENT EVENTS (Detail Textuals) | 12 Months Ended |
Jun. 30, 2017USD ($)Lendershares | |
Subsequent Event [Line Items] | |
Number of common shares issued for conversion of debt and accrued interest | shares | 175,131,324 |
Amount of common shares issued for conversion of debt and accrued interest | $ 69,284 |
Number of shares issued under stock payable | shares | 30,000,000 |
Convertible promissory note payable, issued | $ 37,000 |
Lenders | |
Subsequent Event [Line Items] | |
Number of lenders | Lender | 2 |
Convertible promissory note payable, issued | $ 19,000 |