GL Brands (GRLB) 10-Q 11 Feb 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2015	Feb. 02, 2016
Document And Entity Information
Entity Registrant Name	Freedom Leaf Inc.
Entity Central Index Key	1,581,545
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		183,016,200
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,016

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Current assets
Cash	$ 1,733	$ 901
Accounts receivable	1,632	2,480
Other receivable	2,000	2,000
Total current assets	5,365	5,381
Intangible assets, net	7,962	4,744
Other assets	3,584	3,584
Total assets	16,911	13,709
Current liabilities
Convertible notes payable, net of discount	15,771	0
Accounts payable	44,131	4,711
Accounts payable to related parties	0	27,466
Accrued expenses	12,259	17,984
Accrued expenses to related parties	83,126	0
Total current liabilities	155,287	50,161
Long-term liabilities
Payable to related party	194,355	194,355
Total long-term liabilities	194,355	194,355
Total liabilities	$ 349,642	$ 244,516
Commitments and contingencies
Stockholders' equity
Common stock, $0.001 par value, 500,000,000 shares authorized, 183,016,200 and 174,181,200 shares issued, issuable, and outstanding at December 31, 2015 and June 30, 2015, respectively	$ 183,016	$ 174,181
Additional paid-in capital	2,995,295	594,130
Unearned stock compensation	(470,137)	0
Accumulated deficit	(3,040,905)	(999,118)
Total stockholders' deficit	(332,731)	(230,807)
Total liabilities and stockholders' deficit	$ 16,911	$ 13,709

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Jun. 30, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	183,016,200	174,181,200
Common stock, shares outstanding	183,016,200	174,181,200

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Revenue, net	$ 16,555	$ 127,207	$ 31,650	$ 529,804
Operating expenses
Direct costs of revenue	21,224	73,310	62,533	92,909
General and administrative	1,877,702	185,736	1,991,018	408,361
Marketing and selling expense	2,841	38,267	2,841	45,691
Operating loss	(1,885,212)	(170,106)	(2,024,742)	(17,157)
Other income (expense)
Interest expense	(1,274)	0	(1,274)	0
Beneficial conversion feature	(11,135)	0	(15,771)	0
Net loss	$ (1,897,621)	$ (170,106)	$ (2,041,787)	$ (17,157)
Net loss per share - basic and diluted	$ (.01)	$ 0	$ (.01)	$ 0
Weighted average number of shares outstanding - basic and diluted	181,479,189	52,048,016	177,830,195	52,048,016

Statements of Operations (Paren

Statements of Operations (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Stock-based compensation expense	$ 1,829,000	$ 0	$ 1,829,000	$ 0

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (2,041,787)	$ (17,157)
Adjustments to reconcile net loss to net cash used in operations:
Amortization of intellectual properties	242	0
Beneficial conversion feature	15,771	0
Issuance of common stock for services	1,829,000	12,500
Unearned stock compensation	(470,137)	0
Issuance of warrants for services	500,000	0
Changes in operating assets and liabilities:
Accounts receivable	848	(2,105)
Other receivable	0	(4,727)
Prepaid expense	0	(19,685)
Other assets	0	(3,584)
Accounts payable	39,420	1,391
Accounts payable to related parties	(27,466)	39,000
Accrued expenses	(5,725)	494
Accrued expenses to related parties	83,126	0
Deferred revenue	0	800
Net cash provided by (used in) operating activities	(76,708)	6,927
Cash flows provided by investing activities
Intangible asset acquired	(3,460)	(3,223)
Net cash used in investing activities	(3,460)	(3,223)
Cash flows from financing activities:
Proceeds from capital contributed	58,500	0
Proceeds from notes payable	22,500	0
Net cash provided by financing activities	81,000	0
Net increase in cash	832	3,704
Cash at beginning of period	901	9,214
Cash at end of period	1,733	12,918
Supplemental disclosure of cash flow information:
Cash paid for interest	0	0
Cash paid for taxes	$ 0	$ 0

1. Nature of Business, Presenta

1. Nature of Business, Presentation and Going Concern	6 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business, Presentation and Going Concern	Organization Freedom Leaf, Inc. (the “Company,” “we,” “us,” “our,” or “Freedom Leaf”) was incorporated in the State of Nevada on February 21, 2013, under the name of Arkadia International, Inc. The Company was originally engaged in the business of the acquisition of in demand equipment, cars, and goods with the intent to resale these in the U.S. territory or export to overseas countries. On October 3, 2014, the Company experienced a change in control. Richard C. Cowan acquired a majority of the issued and outstanding common stock of the Company in accordance with stock purchase agreements by and between Mr. Cowan and Vladimir and Galina Shekhtman (“Sellers”). On the closing date, October 3, 2014, pursuant to the terms of the Stock Purchase Agreement, Cowan purchased from the Sellers 6,950,100 shares of the Company’s outstanding restricted common stock for $100,000, representing 93%. On November 6, 2014, the Company merged with Freedom Leaf, Inc., a private Nevada corporation. The Company changed its name from Arkadia International, Inc., to Freedom Leaf, Inc. As a result of the merger, the private company was dissolved. See Note 2 for related discussion. For financial reporting purposes, the Share Exchange represents a "reverse merger" rather than a business combination and Private Company is deemed to be the accounting acquirer in the transaction. The Share Exchange is being accounted for as a reverse-merger and recapitalization. Private Company is the acquirer for financial reporting purposes and the Public Company (Freedom Leaf, Inc., f/k/a Arkadia International, Inc.) is the acquired company. Consequently, the assets and liabilities and the operations that will be reflected in the historical financial statements prior to the Share Exchange will be those of the Private Company and will be recorded at the historical cost basis of the Private Company, and the financial statements after completion of the Share Exchange will include the assets and liabilities of the Public Company and the Private Company, and the historical operations of Private Company and operations of both companies from the closing date of the Share Exchange. Nature of Operations The Company is focused on being the premium national and international news source for the Cannabis/Industrial Hemp industry. Through our online and print media channels, our efforts are in dissemination of current legislation and legal news, arts and entertainment. Additional websites and online partnerships are in the development stage that will give the Freedom Leaf brand greater exposure. The Company will generate revenue from paid advertising on both online and print publications as well as consulting fees and incubator fees for companies that want to participate in the Cannabis/Industrial Hemp industry. Another segment of income generation by the Company is brand management for both profit and non-profit organizations. An example is the contract with NORML which was entered into on May 26, 2015. This contract authorizes the Company to undertake all of the commercial activities of NORML, earning income for both the non-profit and the Company. Basis of Presentation The accompanying unaudited financial statements of Freedom Leaf, Inc. have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. The results of operations for the interim period ended December 31, 2015 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2016. In the opinion of the Company’s management, the information contained herein reflects all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the Company’s results of operations, financial position and cash flows. The unaudited interim financial statements should be read in conjunction with the audited financial statements in the Company’s Form 10-K for the year ended June 30, 2015 filed on October 6, 2015 and Management’s Discussion and Analysis of Financial Condition and Results of Operations. Impairment of Long-Lived Assets The Company accounts for long-lived assets in accordance with the provisions of Statement of Financial Accounting Standards ASC 360-10, “Accounting for the Impairment or Disposal of Long-Lived Assets”. This statement requires that long-lived assets and certain identifiable intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. 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. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. Fair Value of Financial Instruments The Company measures its financial assets and liabilities in accordance with generally accepted accounting principles. For certain of our financial instruments, including cash, accounts payable, accrued expenses, deposits received from customers for layaway sales and short term loans the carrying amounts approximate fair value due to their short maturities. We follow accounting guidance for financial and non-financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. We currently measure and report at fair value our intangible assets (due to our impairment analysis) and derivative liabilities. The fair value of intangible assets has been determined using the present value of estimated future cash flows method. The fair value of derivative liabilities is measured using the Black-Scholes option pricing method. The following table summarizes our non-financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2015: Quoted Prices in Significant Balance at Active Markets Other Significant December for Identical Observable Unobservable 31, 2015 Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Assets: Trademarks $ 7,962 $ – $ – $ 7,962 Total Financial Assets $ 7,962 $ – $ – $ 7,962 Following is a summary of activity through December 31, 2015 of the fair value of intangible assets valued using Level 3 inputs: Accumulated Asset Amortization Net Intangibles - June 30, 2015 $ 4,913 $ (169 ) $ 4,744 Additions 3,460 – 3,460 Amortization – (242 ) (242 ) Intangibles - December 31, 2015 $ 8,373 $ (411 ) $ 7,962 The Company evaluates its convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for. The result of this accounting treatment is that under certain circumstances the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. Equity instruments that are initially classified as equity that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date. Stock-Based Compensation The Company accounts for stock-based instruments issued to employees in accordance with ASC Topic 718. ASC Topic 718 requires companies to recognize in the statement of operations the grant-date fair value of stock options and other equity based compensation issued to employees. The value of the portion of an award that is ultimately expected to vest is recognized as an expense over the requisite service periods using the straight-line attribution method. The Company accounts for non-employee share-based awards in accordance with the measurement and recognition provisions ASC Topic 505-50. The Company estimates the fair value of stock options at the grant date by using the Black-Scholes option-pricing model. Going Concern The accompanying unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company sustained net losses of $2,041,787 and used cash in operating activities of $76,708 for the six months ended December 31, 2015. The Company had working capital deficit, stockholders’ deficit and accumulated deficit of $149,922, $332,731 and $3,040,905, respectively, at December 31, 2015. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s continuation as a going concern is dependent upon its ability to generate revenues and its ability to continue receiving investment capital and loans from third parties to sustain its current level of operations. The Company is in the process of securing working capital from investors for common stock, convertible notes payable, and/or strategic partnerships. No assurance can be given that the Company will be successful in these efforts. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include the amortization period for intangible assets, valuation and impairment valuation of intangible assets, depreciable lives of the web site and property and equipment, valuation of warrants and beneficial conversion feature debt discounts, valuation of derivatives, valuation of share-based payments and the valuation allowance on deferred tax assets. Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported losses, total assets, or stockholders’ equity as previously reported. Development Stage Company Since inception, the Company became a “development stage company” as defined in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 915 “Development Stage Entities.” On June 10, 2014 the FASB issued authoritative guidance which eliminates the concept of a development stage entity. The incremental reporting requirements for presenting the development stage operations and cash flows since inception will no longer apply to development stage entities. The amendments of Topic 915 are to be applied retrospectively and are effective for fiscal years beginning after December 15, 2014. The Company has elected early adoption of this guidance effective with the filing of its previous quarterly report. On November 6, 2015, the Company merged with Freedom Leaf, Inc., a private Nevada corporation. The Company changed its name from Arkadia International, Inc., to Freedom Leaf, Inc. As a result of the merger, the private company was dissolved. See Note 3 for related discussion. Net Earnings (Loss) Per Share In accordance with ASC 260-10, “Earnings Per Share,” basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period. Segment Information In accordance with the provisions of ASC 280-10, “Disclosures about Segments of an Enterprise and Related Information,” the Company is required to report financial and descriptive information about its reportable operating segments. The Company does not have any operating segments as of December 31, 2015 and 2014. Effect of Recent Accounting Pronouncements The Company reviews new accounting pronouncements as issued. No new pronouncements had any material effect on these unaudited financial statements. The accounting pronouncements issued subsequent to the date of these unaudited financial statements that were considered significant by management were evaluated for the potential effect on these unaudited financial statements. Management does not believe any of the subsequent pronouncements will have a material effect on these unaudited financial statements as presented and does not anticipate the need for any future restatement of these unaudited financial statements because of the retro-active application of any accounting pronouncements issued subsequent to December 31, 2015 through the date these unaudited financial statements were issued.

2. Entry Into a Definitive Agre

2. Entry Into a Definitive Agreement	6 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Entry Into a Definitive Agreement	Freedom Leaf, Inc., (f/k/a Arkadia International, Inc., the “Public Company,” “we,” “us,” “our”) entered into a share exchange agreement (the “Exchange Agreement”) with Freedom Leaf, Inc. (the “Private Company”), a Nevada corporation. Prior to the reverse merger, Richard C. Cowan, an officer and director of the Company, post-merger, acquired 89,808,000, or 99.8% of the outstanding shares of Freedom Leaf, Inc., the public company. Clifford J. Perry, an individual, and the Private Company’s sole officer and director (“Perry”), was the owner of record of all of the outstanding common shares of the Private Company (the “Private Company Stock New Shares Perry Stock Acquisition Stock Share Exchange The closing of the Exchange Agreement was conditioned upon certain, limited customary representations and warranties, as well as the satisfaction or waiver of specified conditions to closing. As the parties satisfied all of the closing conditions, on November 6, 2014, we consummated the Share Exchange contemplated by the Exchange Agreement. As a result, the shareholders of Private Company own approximately 48.1% of our issued and outstanding common stock. Prior to the execution and delivery of the Exchange Agreement, our board of directors approved the Share Exchange and the transactions contemplated thereby. Similarly, the board of directors of Private Company approved the Share Exchange. Reference is hereby made regarding the completion of the Share Exchange. Following the Share Exchange, we have abandoned our prior business plan and we are now pursuing Private Company’s historical businesses and proposed businesses. The foregoing description of the Exchange Agreement does not purport to be complete and is qualified in its entirety by the Share Exchange Agreement, a copy of which has been filed on Form 10-Q/A for the period ended December 31, 2014 which is incorporated herein by reference. Accounting Treatment of the Merger For financial reporting purposes, the Share Exchange represents a “reverse merger” rather than a business combination and Private Company is deemed to be the accounting acquirer in the transaction. The Share Exchange is being accounted for as a reverse-merger and recapitalization. Private Company is the acquirer for financial reporting purposes and the Public Company (Freedom Leaf, Inc., f/k/a Arkadia International, Inc.) is the acquired company. Consequently, the assets and liabilities and the operations that will be reflected in the historical financial statements prior to the Share Exchange will be those of the Private Company and will be recorded at the historical cost basis of the Private Company, and the financial statements after completion of the Share Exchange will include the assets and liabilities of the Public Company and the Private Company, and the historical operations of Private Company and operations of both companies from the closing date of the Share Exchange.

3. Convertible Notes Payable, N

3. Convertible Notes Payable, Net of Premiums	6 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Convertible Notes Payable, Net of Premiums	Convertible notes payable, all classified as current at December 31, 2015, consists of the following: Convertible notes, net of discounts December 31, 2015 Principal, Debt net of Principal Discounts Discounts Bruce Perlowin $ 5,000 $ (2,575 ) $ 2,425 Bruce Perlowin 5,000 (3,068 ) 1,932 Svetlana Ogorodnikova 12,500 (3,415 ) 9,085 Swiss Allied Trust, Inc. 50,000 (47,671 ) 2,329 Total $ 72,500 $ (56,729 ) $ 15,771 On July 7, 2015, the Company executed a convertible promissory note for $5,000 with Bruce Perlowin. The note is for one year, 12% interest rate, and convertible at $0.10 per share. The current price at that date was $0.085, which is less than the conversion price. The stock price for our common stock as of September 30, 2015 was $0.40. Our common stock is thinly traded therefore our price, as management has determined, is not indicative of our valuation. In October 2015, the Company issued common stock for services to unrelated parties and the common stock was values at $0.20, therefore, the $0.20 was used for valuation purposes for this note. A beneficial conversion feature of $5,000 was recorded and, as of December 31, 2015, $2,425 was amortized. The Company has recorded accrued interest of $293 as of December 31, 2015. On August 12, 2015, the Company executed a convertible promissory note for $5,000 with Bruce Perlowin. The note is for one year, 12% interest rate, and convertible at $0.10 per share. The current price at that date was $0.10, which is less than the conversion price. The stock price for our common stock as of September 30, 2015 was $0.40. Our common stock is thinly traded therefore our price, as management has determined, is not indicative of our valuation. In October 2015, the Company issued common stock for services to unrelated parties and the common stock was values at $0.20, therefore, the $0.20 was used for valuation purposes for this note. A beneficial conversion feature of $5,000 was recorded and, as of December 31, 2015, $1,932 was amortized. The Company has recorded accrued interest of $233 as of December 31, 2015. On August 20, 2015, the Company executed a convertible promissory note for $12,500 with Svetlana Ogorodnikova. The note matures on February 19, 2016, 12% interest rate, and convertible at $0.10 per share. The current price at that date was $0.085, which is less than the conversion price. The stock price for our common stock as of September 30, 2015 was $0.40. Our common stock is thinly traded therefore our price, as management has determined, is not indicative of our valuation. In October 2015, the Company issued common stock for services to unrelated parties and the common stock was values at $0.20, therefore, the $0.20 was used for valuation purposes for this note. A beneficial conversion feature of $12,500 was recorded and, as of December 31, 2015, $9,085 was amortized. The Company has recorded accrued interest of $551 as of December 31, 2015. On December 14, 2015, the Company executed a convertible promissory note for $100,000 with Swiss Allied Trust, Inc. (“Swiss Allied”). The note has two funding dates; December 14, 2015 and January 15, 2016, each for $50,000. As of December 31, 2015, the initial $50,000 had been received by the Company. The term on each installment is for one year from the date of receipt of each tranche. Each installment is recorded and presented separately. For the initial tranche of $50,000, the Company recorded a beneficial conversion feature of $50,000 and, as of December 31, 2015, $2,329 was amortized. The beneficial conversion feature was calculated on the conversion price of $0.005, as further discussed below. The Company maintained the common stock to be valued at $0.20, as discussed in prior notes, as the Company’s common stock continues to be thinly traded. Additionally, the Company issued Swiss Allied four warrants as an incentive to the note, each for 20,000,000 shares of the Company’s common stock, for a total of 80,000,000 warrants (see Note 4). Each warrant has an exercise price of $0.005 per share. The four warrants, each for 20,000,000 shares of common stock, mature on March 31, 2016, June 30, 2016, October 31, 2016, and December 31, 2016, respectively. If Swiss Allied exercises all warrants, the Company would receive an additional $400,000 for said shares of common stock. If Swiss Allied does not exercise all 80,000,000 warrants, by the maturation dates, as described herein, the exercise price shall be adjusted to $0.06, an increase of $0.055 per share as a penalty, which is payable to the Company at the time Swiss Allied requests to have the Rule 144 restriction removed. The interest rate for each loan tranche is 8% and is accrued with a payment date of December 15, 2016 for the first tranche and January 15, 2017 for the second tranche. The conversion price for the $100,000, which may happen any time prior to December 14, 2016, shall be the greater of $0.03 or 50% of the lowest closing price on the primary trading market on which the Company’s common stock is quoted for the five trading days immediately prior to, but not including, the conversion date, assuming that Swiss Allied has not exercised all 80,000,000 warrants for common stock. The conversion price for the $100,000, assuming that Swiss Allied has exercised all 80,000,000 warrants for common stock, shall be $0.005 per share. Swiss Allied has a right of first refusal on any future funding to the Company. Swiss Allied has the right to name a party to serve as a member of the Company’s board of directors if Swiss Allied owns at least 40,000,000 shares of the Company’s common stock. If Swiss Allied owns at least 80,000,000 shares of the Company’s common stock, they have the right to name two parties to the Company’s board of directors. The two directors will remain as long as Swiss Allied owns 55,000,000 shares of the Company’s common stock.

4. Stockholders' Deficit

4. Stockholders' Deficit	6 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholders' Deficit	Common Stock The Company was authorized to issue up to 75,000,000 shares of common stock, par value $0.001 per share. On January 21, 2015, the Company increased it’s authorized to 500,000,000 shares of common stock. Each outstanding share of common stock entitles the holder to one vote per share on all matters submitted to a stockholder vote. All shares of common stock are non-assessable and non-cumulative, with no pre-emptive rights. On November 6, 2014, the Company merged with Freedom Leaf, Inc., a private Nevada corporation (see Note 1). After the completion of the merger, there were 173,401,200 shares of common stock issued, issuable and outstanding. On November 10, 2014, the Company issued 780,000 shares of common stock to Vincent Moreno for consulting services from November 10, 2014 through April 10, 2015. The Company’s stock is thinly traded therefore the valuation of the issuance was based on the value of the services, which was $12,500. On October 12, 2015, the Company issued 1,700,000 shares of common stock to various employees as part of compensation. The current price at that date was $0.20. Our common stock is thinly traded therefore our price, as management has determined, may not be indicative of our valuation. In October 2015, the Company issued common stock for services to unrelated parties and the common stock was valued at $0.20, therefore, the stock was valued at $0.20 or $340,000 was recorded. As of December 31, 2015, the stock was not issued therefore recorded as issuable. On October 12, 2015, the Company issued 2,000,000 shares of common stock to Raymond Medeiros, a director of the Company, for his past services. The current price at that date was $0.20. Our common stock is thinly traded therefore our price, as management has determined, may not be indicative of our valuation. In October 2015, the Company issued common stock for services to unrelated parties and the common stock was valued at $0.20, therefore, the stock was valued at $0.20 or $400,000 was recorded. As of December 31, 2015, the stock was not issued therefore recorded as issuable. On October 12, 2015, the Company issued 3,000,000 shares of common stock to Raymond Medeiros, a director of the Company, for his future services. The issuance will vest over a period of twelve months. The current price at that date was $0.20. Our common stock is thinly traded therefore our price, as management has determined, may not be indicative of our valuation. In October 2015, the Company issued common stock for services to unrelated parties and the common stock was valued at $0.20, therefore, the stock was valued at $0.20 or $600,000 was recorded. As of December 31, 2015, the stock was not issued therefore recorded as issuable. On October 12, 2015, the Company issued 2,010,000 shares of common stock to various subcontractors for their services. The current price at that date was $0.20. Our common stock is thinly traded therefore our price, as management has determined, may not be indicative of our valuation. In October 2015, the Company issued common stock for services to unrelated parties and the common stock was valued at $0.20, therefore, the stock was valued at $0.20 or $402,000, was recorded. As of December 31, 2015, the stock was not issued therefore recorded as issuable. On November 2, 2015, the Company issued 175,000 shares of common stock to various subcontractors for their services. The current price at that date was $0.45. Our common stock is thinly traded therefore our price, as management has determined, may not be indicative of our valuation. In October 2015, the Company issued common stock for services to unrelated parties and the common stock was valued at $0.20, therefore, the stock was valued at $0.20 or $35,000, was recorded.. As of December 31, 2015, the stock was not issued therefore recorded as issuable. Warrants On November 2, 2015, the Company issued 1,000,000 warrants for common stock to Freedom Leaf Iberia, in regards to a contemplated future transaction between the Company and Freedom Leaf Iberia. The warrants mature on May 2, 2016. The exercise price is $0.02 and the warrant has a cashless exercise option. The warrants were valued at $0.20 per share, as defined in the section. The Company recorded an expense of $200,000. On November 2, 2015, the Company issued 1,000,000 warrants for common stock to Freedomleaf Netherlands, b.v., in regards to a contemplated future transaction between the Company and Freedomleaf Netherlands, b.v. The warrants mature on May 2, 2016. The exercise price is $0.02 and the warrant has a cashless exercise option. The warrants were valued at $0.20 per share, as defined in the section. The Company recorded an expense of $200,000. On November 2, 2015, the Company issued 500,000 warrants for common stock to a subcontractor as an incentive to their services. The warrants mature on May 2, 2016. The exercise price is $0.02 and the warrant has a cashless exercise option. The warrants were valued at $0.20 per share, as defined in the section. The Company recorded an expense of $100,000. On December 14, 2015, the Company executed a convertible promissory note for $100,000 with Swiss Allied (see Note 3). The Company issued Swiss Allied four warrants as an incentive to the note, each for 20,000,000 shares of the Company’s common stock, for a total of 80,000,000 warrants. Each warrant has an exercise price of $0.005 per share. The four warrants, each for 20,000,000 shares of common stock, mature on March 31, 2016, June 30, 2016, October 31, 2016, and December 31, 2016, respectively. The warrants, as an incentive to the note, should have a beneficial conversion feature. As the note’s beneficial conversion feature is at the maximum, there is no beneficial conversion feature to record. If Swiss Allied exercises all warrants, the Company would receive an additional $400,000 for said shares of common stock. If Swiss Allied does not exercise all 80,000,000 warrants, by the maturation dates, as described herein, the exercise price shall be adjusted to $0.06, an increase of $0.055 per share as a penalty, which is payable to the Company at the time Swiss Allied requests to have the Rule 144 restriction removed. The interest rate for each loan tranche is 8% and is accrued with a payment date of December 15, 2016 for the first tranche and January 15, 2017 for the second tranche. The conversion price for the $100,000, which may happen any time prior to December 14, 2016, shall be the greater of $0.03 or 50% of the lowest closing price on the primary trading market on which the Company’s common stock is quoted for the five trading days immediately prior to, but not including, the conversion date, assuming that Swiss Allied has not exercised all 80,000,000 warrants for common stock. The conversion price for the $100,000, assuming that Swiss Allied has exercised all 80,000,000 warrants for common stock, shall be $0.005 per share. Swiss Allied has a right of first refusal on any future funding to the Company. Swiss Allied has the right to name a party to serve as a member of the Company’s board of directors if Swiss Allied owns at least 40,000,000 shares of the Company’s common stock. If Swiss Allied owns at least 80,000,000 shares of the Company’s common stock, they have the right to name two parties to the Company’s board of directors. The two directors will remain as long as Swiss Allied owns 55,000,000 shares of the Company’s common stock.

5. Commitments and Contingencie

5. Commitments and Contingencies	6 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Legal Matters From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of its business. The Company is not currently a party to any material legal proceedings, nor is the Company aware of any other pending or threatened litigation that would have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. Lease Commitment We lease approximately 2,800 square feet of office space in Las Vegas, Nevada, pursuant to a lease that will expire on September 30, 2019. This facility serves as our corporate headquarters. After September 30, 2017, the Company has the option to opt out of the lease. Future minimum lease payments under these leases are as follows: 2016 $ 22,176 2017 45,360 2018 46,704 2019 48,048 2020 12,096 Total $ 174,384 Note: After September 30, 2017, the Company can opt out of the remaining lease obligation. Rent expense for the six months ended December 31, 2015 and 2014 was $20,208 and $0, respectively.

6. Related Parties

6. Related Parties	6 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Parties	Richard C. Cowan (“Cowan”), Director and former officer of the Company, has payables and accruals due to him of $277,481 and $221,821 as of December 31, 2015 and June 30, 2015, respectively. There are no set terms for repayment. Clifford J. Perry (“Perry”), chief executive officer, chief financial officer, and director of the Company, has no payables and accruals due to him as of December 31, 2015 and June 30, 2015, respectively.

7. Subsequent Events

7. Subsequent Events	6 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	The Company has evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission. The Company has determined that there are no other such events that warrant disclosure or recognition in the financial statements, except as stated herein. On January 26, 2016, the Company received $50,000 from Swiss Allied as the second tranche of the convertible promissory note (see Note 3). A beneficial conversion feature will be recorded accordingly. On February 8, 2016, the Company and Freedomleaf Netherlands, b.v. (“FLNL”), a company located in the Netherlands, executed a Memorandum of Understanding (“MOU”), wherein the Company granted FLNL a right of first refusal to license certain rights from the Company described below in exchange for a payment of $25,000, and the parties agreed to negotiate a definite license agreement for such rights and with proposed terms of the definitive agreement set forth in the MOU. Such rights include FLNL’s rights to use various trademarks of the Company, primarily “Freedom Leaf,” and other related rights, for use in the Netherlands by FLNL, including FLNL’s right to publish a Freedom Leaf magazine in the Netherlands, sell Freedom Leaf products and perform other activities related to the business of the Company. Except for the grant of the right of first refusal, and the required payment has not been received by the Company. FLNL is a shareholder (common stock and warrants to purchase additional common stock) of the Company.

1. Nature of Business, Presen14

1. Nature of Business, Presentation and Going Concern (Policies)	6 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Freedom Leaf, Inc. (the “Company,” “we,” “us,” “our,” or “Freedom Leaf”) was incorporated in the State of Nevada on February 21, 2013, under the name of Arkadia International, Inc. The Company was originally engaged in the business of the acquisition of in demand equipment, cars, and goods with the intent to resale these in the U.S. territory or export to overseas countries. On October 3, 2014, the Company experienced a change in control. Richard C. Cowan acquired a majority of the issued and outstanding common stock of the Company in accordance with stock purchase agreements by and between Mr. Cowan and Vladimir and Galina Shekhtman (“Sellers”). On the closing date, October 3, 2014, pursuant to the terms of the Stock Purchase Agreement, Cowan purchased from the Sellers 6,950,100 shares of the Company’s outstanding restricted common stock for $100,000, representing 93%. On November 6, 2014, the Company merged with Freedom Leaf, Inc., a private Nevada corporation. The Company changed its name from Arkadia International, Inc., to Freedom Leaf, Inc. As a result of the merger, the private company was dissolved. See Note 2 for related discussion. For financial reporting purposes, the Share Exchange represents a "reverse merger" rather than a business combination and Private Company is deemed to be the accounting acquirer in the transaction. The Share Exchange is being accounted for as a reverse-merger and recapitalization. Private Company is the acquirer for financial reporting purposes and the Public Company (Freedom Leaf, Inc., f/k/a Arkadia International, Inc.) is the acquired company. Consequently, the assets and liabilities and the operations that will be reflected in the historical financial statements prior to the Share Exchange will be those of the Private Company and will be recorded at the historical cost basis of the Private Company, and the financial statements after completion of the Share Exchange will include the assets and liabilities of the Public Company and the Private Company, and the historical operations of Private Company and operations of both companies from the closing date of the Share Exchange.
Nature of Operations	Nature of Operations The Company is focused on being the premium national and international news source for the Cannabis/Industrial Hemp industry. Through our online and print media channels, our efforts are in dissemination of current legislation and legal news, arts and entertainment. Additional websites and online partnerships are in the development stage that will give the Freedom Leaf brand greater exposure. The Company will generate revenue from paid advertising on both online and print publications as well as consulting fees and incubator fees for companies that want to participate in the Cannabis/Industrial Hemp industry. Another segment of income generation by the Company is brand management for both profit and non-profit organizations. An example is the contract with NORML which was entered into on May 26, 2015. This contract authorizes the Company to undertake all of the commercial activities of NORML, earning income for both the non-profit and the Company.
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements of Freedom Leaf, Inc. have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. The results of operations for the interim period ended December 31, 2015 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2016. In the opinion of the Company’s management, the information contained herein reflects all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the Company’s results of operations, financial position and cash flows. The unaudited interim financial statements should be read in conjunction with the audited financial statements in the Company’s Form 10-K for the year ended June 30, 2015 filed on October 6, 2015 and Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company accounts for long-lived assets in accordance with the provisions of Statement of Financial Accounting Standards ASC 360-10, “Accounting for the Impairment or Disposal of Long-Lived Assets”. This statement requires that long-lived assets and certain identifiable intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. 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. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures its financial assets and liabilities in accordance with generally accepted accounting principles. For certain of our financial instruments, including cash, accounts payable, accrued expenses, deposits received from customers for layaway sales and short term loans the carrying amounts approximate fair value due to their short maturities. We follow accounting guidance for financial and non-financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. We currently measure and report at fair value our intangible assets (due to our impairment analysis) and derivative liabilities. The fair value of intangible assets has been determined using the present value of estimated future cash flows method. The fair value of derivative liabilities is measured using the Black-Scholes option pricing method. The following table summarizes our non-financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2015: Quoted Prices in Significant Balance at Active Markets Other Significant December for Identical Observable Unobservable 31, 2015 Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Assets: Trademarks $ 7,962 $ – $ – $ 7,962 Total Financial Assets $ 7,962 $ – $ – $ 7,962 Following is a summary of activity through December 31, 2015 of the fair value of intangible assets valued using Level 3 inputs: Accumulated Asset Amortization Net Intangibles - June 30, 2015 $ 4,913 $ (169 ) $ 4,744 Additions 3,460 – 3,460 Amortization – (242 ) (242 ) Intangibles - December 31, 2015 $ 8,373 $ (411 ) $ 7,962 The Company evaluates its convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for. The result of this accounting treatment is that under certain circumstances the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. Equity instruments that are initially classified as equity that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date.
Stock-based Compensation	Stock-Based Compensation The Company accounts for stock-based instruments issued to employees in accordance with ASC Topic 718. ASC Topic 718 requires companies to recognize in the statement of operations the grant-date fair value of stock options and other equity based compensation issued to employees. The value of the portion of an award that is ultimately expected to vest is recognized as an expense over the requisite service periods using the straight-line attribution method. The Company accounts for non-employee share-based awards in accordance with the measurement and recognition provisions ASC Topic 505-50. The Company estimates the fair value of stock options at the grant date by using the Black-Scholes option-pricing model.
Going Concern	Going Concern The accompanying unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company sustained net losses of $2,041,787 and used cash in operating activities of $76,708 for the six months ended December 31, 2015. The Company had working capital deficit, stockholders’ deficit and accumulated deficit of $149,922, $332,731 and $3,040,905, respectively, at December 31, 2015. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s continuation as a going concern is dependent upon its ability to generate revenues and its ability to continue receiving investment capital and loans from third parties to sustain its current level of operations. The Company is in the process of securing working capital from investors for common stock, convertible notes payable, and/or strategic partnerships. No assurance can be given that the Company will be successful in these efforts. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include the amortization period for intangible assets, valuation and impairment valuation of intangible assets, depreciable lives of the web site and property and equipment, valuation of warrants and beneficial conversion feature debt discounts, valuation of derivatives, valuation of share-based payments and the valuation allowance on deferred tax assets.
Reclassifications	Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported losses, total assets, or stockholders’ equity as previously reported.
Development Stage Company	Development Stage Company Since inception, the Company became a “development stage company” as defined in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 915 “Development Stage Entities.” On June 10, 2014 the FASB issued authoritative guidance which eliminates the concept of a development stage entity. The incremental reporting requirements for presenting the development stage operations and cash flows since inception will no longer apply to development stage entities. The amendments of Topic 915 are to be applied retrospectively and are effective for fiscal years beginning after December 15, 2014. The Company has elected early adoption of this guidance effective with the filing of its previous quarterly report. On November 6, 2015, the Company merged with Freedom Leaf, Inc., a private Nevada corporation. The Company changed its name from Arkadia International, Inc., to Freedom Leaf, Inc. As a result of the merger, the private company was dissolved. See Note 3 for related discussion.
Net Earnings (Loss) Per Share	Net Earnings (Loss) Per Share In accordance with ASC 260-10, “Earnings Per Share,” basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period.
Segment Information	Segment Information In accordance with the provisions of ASC 280-10, “Disclosures about Segments of an Enterprise and Related Information,” the Company is required to report financial and descriptive information about its reportable operating segments. The Company does not have any operating segments as of December 31, 2015 and 2014.
Effect of Recent Accounting Pronouncements	Effect of Recent Accounting Pronouncements The Company reviews new accounting pronouncements as issued. No new pronouncements had any material effect on these unaudited financial statements. The accounting pronouncements issued subsequent to the date of these unaudited financial statements that were considered significant by management were evaluated for the potential effect on these unaudited financial statements. Management does not believe any of the subsequent pronouncements will have a material effect on these unaudited financial statements as presented and does not anticipate the need for any future restatement of these unaudited financial statements because of the retro-active application of any accounting pronouncements issued subsequent to December 31, 2015 through the date these unaudited financial statements were issued.

1. Nature of Business, Presen15

1. Nature of Business, Presentation and Going Concern (Tables)	6 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fair value of financial instruments	Quoted Prices in Significant Balance at Active Markets Other Significant December for Identical Observable Unobservable 31, 2015 Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Assets: Trademarks $ 7,962 $ – $ – $ 7,962 Total Financial Assets $ 7,962 $ – $ – $ 7,962
Intangible asset roll forward	Accumulated Asset Amortization Net Intangibles - June 30, 2015 $ 4,913 $ (169 ) $ 4,744 Additions 3,460 – 3,460 Amortization – (242 ) (242 ) Intangibles - December 31, 2015 $ 8,373 $ (411 ) $ 7,962

3. Convertible Notes Payable,16

3. Convertible Notes Payable, Net of Premiums (Tables)	6 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Convertible notes payable	Convertible notes, net of discounts December 31, 2015 Principal, Debt net of Principal Discounts Discounts Bruce Perlowin $ 5,000 $ (2,575 ) $ 2,425 Bruce Perlowin 5,000 (3,068 ) 1,932 Svetlana Ogorodnikova 12,500 (3,415 ) 9,085 Swiss Allied Trust, Inc. 50,000 (47,671 ) 2,329 Total $ 72,500 $ (56,729 ) $ 15,771

5. Commitments and Contingenc17

5. Commitments and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease payments	2016 $ 22,176 2017 45,360 2018 46,704 2019 48,048 2020 12,096 Total $ 174,384 Note: After September 30, 2017, the Company can opt out of the remaining lease obligation.

1. Nature of Operations (Detail

1. Nature of Operations (Details - Fair Value)	Dec. 31, 2015USD ($)
Assets:
Trademarks	$ 7,962
Total Financial Assets	7,962
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Trademarks	0
Total Financial Assets	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Trademarks	0
Total Financial Assets	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Trademarks	7,962
Total Financial Assets	$ 7,962

1. Nature of Operations (Deta19

1. Nature of Operations (Details - Level 3) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Intangibles gross, beginning balance	$ 4,913
Intangibles net, beginning balance	4,744
Amortization, beginning balance	(169)
Additions	3,460	$ 3,223
Amortization	(242)	$ 0
Amortization, ending balance	(411)
Intangibles net, ending balance	7,962
Intangibles gross, ending balance	$ 8,373

1. Nature of Operations (Deta20

1. Nature of Operations (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ (1,897,621)	$ (170,106)	$ (2,041,787)	$ (17,157)
Net cash used in operating activities			(76,708)	$ 6,927
Working capital	(149,922)		(149,922)
Stockholders' deficiency	(332,731)		(332,731)		$ (230,807)
Accumulated deficit	$ (3,040,905)		$ (3,040,905)		$ (999,118)

3. Convertible Notes Payable (D

3. Convertible Notes Payable (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Convertible notes, principal	$ 72,500
Debt discounts	(56,729)
Convertible notes, net of discounts	15,771	$ 0
Bruce Perlowin
Convertible notes, principal	5,000
Debt discounts	(2,575)
Convertible notes, net of discounts	2,425
Bruce Perlowin
Convertible notes, principal	5,000
Debt discounts	(3,068)
Convertible notes, net of discounts	1,932
Svetlana Ogorodnikova
Convertible notes, principal	12,500
Debt discounts	(3,415)
Convertible notes, net of discounts	9,085
Swiss Allied Trust, Inc.
Convertible notes, principal	50,000
Debt discounts	(47,671)
Convertible notes, net of discounts	$ 2,329

3. Convertible Notes Payable 22

3. Convertible Notes Payable (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Proceeds from note			$ 22,500	$ 0
Beneficial conversion feature	$ (11,135)	$ 0	(15,771)	$ 0
Bruce Perlowin
Debt face amount	$ 5,000		$ 5,000
Debt maturity date			Jul. 7, 2016
Debt interest rate	12.00%		12.00%
Beneficial conversion feature			$ 5,000
Amortization of beneficial conversion feature			2,425
Accrued interest	$ 293		293
Bruce Perlowin
Debt face amount	$ 5,000		$ 5,000
Debt maturity date			Aug. 12, 2016
Debt interest rate	12.00%		12.00%
Beneficial conversion feature			$ 5,000
Amortization of beneficial conversion feature			1,932
Accrued interest	$ 233		233
Svetlana Ogorodnikova
Debt face amount	$ 12,500		$ 12,500
Debt maturity date			Feb. 19, 2016
Debt interest rate	12.00%		12.00%
Beneficial conversion feature			$ 12,500
Amortization of beneficial conversion feature			9,085
Accrued interest	$ 551		551
Swiss Allied Trust, Inc.
Debt face amount	100,000		100,000
Swiss Allied Trust, Inc. | Tranche 1
Debt face amount	$ 50,000		50,000
Proceeds from note			$ 50,000
Debt maturity date			Dec. 14, 2016
Debt interest rate	8.00%		8.00%
Beneficial conversion feature			$ 50,000
Amortization of beneficial conversion feature			$ 2,329
Warrants issued with notes			40,000,000
Warrant exercise price	$ .005		$ .005
Swiss Allied Trust, Inc. | Tranche 2
Debt face amount	$ 50,000		$ 50,000
Debt maturity date			Jan. 15, 2016
Debt interest rate	8.00%		8.00%
Warrants issued with notes			40,000,000
Warrant exercise price	$ .005		$ .005

4. Stockholders' Equity (Detail

4. Stockholders' Equity (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Warrant expense	$ 500,000	$ 0
Raymond Medeiros | Past Services
Common stock issued for services, shares	2,000,000
Common stock issued for services, value	$ 400,000
Stock issuable	2,000,000
Raymond Medeiros | Future Services
Common stock issued for services, shares	3,000,000
Common stock issued for services, value	$ 600,000
Stock issuable	3,000,000
Moreno
Common stock issued for services, shares			780,000
Common stock issued for services, value			$ 12,500
Various Employees
Common stock issued for compensation, shares	1,700,000
Stock issuable	1,700,000
Unrelated Parties
Common stock issued for services, value	$ 340,000
Various Subcontractors
Common stock issued for services, shares	2,010,000
Common stock issued for services, value	$ 402,000
Common stock issued for compensation, value	$ 2,010,000
Various Subcontractors
Common stock issued for services, shares	175,000
Common stock issued for services, value	$ 35,000
Stock issuable	175,000
Freedom Leaf Iberia
Warrants issued	1,000,000
Warrant maturity date	May 2, 2016
Warrant expense	$ 200,000
Freedom Leaf NL
Warrants issued	1,000,000
Warrant maturity date	May 2, 2016
Warrant expense	$ 200,000
Subcontractor
Warrants issued	500,000
Warrant maturity date	May 2, 2016
Warrant expense	$ 100,000

5. Commitments and Contingenc24

5. Commitments and Contingencies (Details)	Jun. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 22,176
2,017	45,360
2,018	46,704
2,019	48,048
2,020	12,096
Total	$ 174,384

5. Commitments and Contingenc25

5. Commitments and Contingencies (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 20,208	$ 0

6. Related Parties (Details Nar

6. Related Parties (Details Narrative) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Cowan
Due to related parties	$ 277,481	$ 221,821
Perry
Due to related parties	$ 0	$ 0