GL Brands (GRLB) 10-Q 22 May 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2017	May 15, 2017
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	Mar. 31, 2017
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		105,171,035
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Current assets
Cash	$ 6,051	$ 1,758
Accounts receivable	0	500
Inventory	0	2,465
Other receivable	401,685	2,399
Total current assets	407,736	7,122
Intangible assets, net	10,990	7,464
Other assets	233,375	3,584
Total assets	652,101	18,170
Current liabilities
Convertible notes payable, net of discount	38,112	44,521
Notes payable	2,450	0
Accounts payable	14,831	46,936
Accounts payable to related parties	0	10,000
Accrued expenses	117,585	29,853
Accrued expenses to related parties	158,405	45,000
Derivative liabilities	23,918	0
Total current liabilities	355,301	176,310
Long-term liabilities
Payable to related party	203,190	126,250
Total long-term liabilities	203,190	126,250
Total liabilities	558,491	302,560
Commitments and contingencies
Stockholders' equity
Preferred stock, $0.001 par value, 10,000,000 shares authorized Series A preferred stock, 1,000,000 shares authorized, 948,022 shares issued and outstanding at March 31, 2017 and June 30, 2016, respectively	948	948
Common stock, $0.001 par value, 500,000,000 shares authorized, 105,171,035 and 94,438,650 shares issued, issuable, and outstanding at March 31, 2017 and June 30, 2016, respectively	105,171	94,439
Additional paid-in capital	4,536,837	3,800,699
Unearned stock compensation	0	(170,137)
Accumulated deficit	(4,549,346)	(4,010,338)
Total stockholders' equity (deficit)	93,610	(284,390)
Total liabilities and stockholders' equity (deficit)	$ 652,101	$ 18,170

Condensed Balance Sheets (Unau3

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Jun. 30, 2016
Preferred stock, par value	$ .001	$ .001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	105,171,035	94,438,650
Common stock, shares outstanding	105,171,035	94,438,650
Series A Preferred Stock [Member]
Preferred stock, par value	$ .001	$ .001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	948,022	948,022
Preferred stock, shares outstanding	948,022	948,022

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Revenue, net	$ 254,084	$ 68,762	$ 823,204	$ 100,412
Operating expenses
Direct costs of revenue	17,428	33,865	88,792	96,398
General and administrative (includes stock-based compensation of $83,750 and $160,000 for the three months ended March 31, 2017 and 2016, respectively, and $616,942 and $1,969,000 for the nine months ended March 31, 2017 and 2016, respectively.)	247,578	462,296	1,171,906	2,453,314
Marketing and selling	12,600	1,974	32,319	4,815
Operating loss	(23,522)	(429,373)	(469,813)	(2,454,115)
Other income (expense)
Interest expense	(6,026)	(2,394)	(11,276)	(3,668)
Change in fair value of embedded conversion features	(2,905)	0	(2,905)	0
Beneficial conversion feature	5,253	(27,277)	(55,014)	(43,048)
Net loss	$ (27,200)	$ (459,044)	$ (539,008)	$ (2,500,831)
Net loss per share - basic and diluted	$ 0	$ 0	$ (.01)	$ (.01)
Weighted average number of shares outstanding - basic and diluted	102,022,698	183,829,167	98,283,870	179,945,164

Statements of Operations (Unau5

Statements of Operations (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Stock-based compensation	$ 83,750	$ 160,000	$ 616,942	$ 1,969,000

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (539,008)	$ (2,500,831)
Adjustments to reconcile net loss to net cash used in operations:
Amortization of intellectual properties	370	381
Beneficial conversion feature	55,014	43,048
Issuance of common stock for services	616,942	1,969,000
Unearned stock compensation	0	(320,137)
Change in fair value of embedded conversion features	2,905	0
Bad debt expense	(1,500)	0
Issuance of warrants for services	0	500,000
Changes in operating assets and liabilities:
Accounts receivable	500	(3,451)
Inventory	2,465	0
Other receivable	(399,286)	0
Other assets	(229,791)	0
Accounts payable	77,353	38,078
Accounts payable to related parties	(10,000)	(27,466)
Accrued expenses	87,732	964
Accrued expenses to related parties	113,405	81,026
Net cash used in operating activities	(222,898)	(219,388)
Cash flows used in investing activities
Intangible asset acquired	(3,897)	(3,235)
Net cash used in investing activities	(3,897)	(3,235)
Cash flows from financing activities:
Proceeds from capital contributed	28,148	70,500
Proceeds from related party	76,940	0
Proceeds form sale of common stock	80,000	10,000
Proceeds from notes payable	46,000	142,500
Net cash provided by financing activities	231,088	223,000
Net increase in cash	4,293	377
Cash at beginning of period	1,758	901
Cash at end of period	6,051	1,278
Supplemental disclosure of cash flow information:
Cash paid for interest	0	0
Cash paid for taxes	0	0
Non-cash investing and financing activities:
Conversion of debt into common stock	115,065	0
Conversion of common stock into licensing agreement	25,000	0
Derivatives liability	$ 23,918	$ 0

1. Nature of Business, Presenta

1. Nature of Business, Presentation and Going Concern	9 Months Ended
	Mar. 31, 2017
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 agreements with the Sellers, Cowan purchased from the Sellers 6,950,100 shares of the Company’s outstanding restricted common stock for $100,000, representing 93% of the then-outstanding common stock of the Company. On November 6, 2014, the Company merged with Freedom Leaf Inc., a private Nevada corporation (“Private Company”). 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 acquisition of the Private Company via the merger transaction represents a "reverse merger" rather than a business combination, and Private Company is deemed to be the accounting acquirer in the transaction. The merger is being accounted for as a reverse-merger and recapitalization. Private Company is treated as the acquirer for financial reporting purposes, and the predecessor public company (Freedom Leaf Inc., f/k/a Arkadia International, Inc.) is treated as the acquired company. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements of the Company prior to the merger are those of the Private Company, and were recorded at the historical cost basis of the Private Company, and the financial statements after completion of the merger include the assets and liabilities of both the predecessor public company and Private Company, the historical operations of Private Company, and the operations of both companies from the date of the merger. 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 are intended to give the Freedom Leaf brand greater exposure. The Company generates 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. The Company also sells licenses to use the Freedom Leaf brand in different countries and states. We have entered into two license agreements: for Spain and Portugal, for The Netherlands, and for Florida. Basis of Presentation The accompanying unaudited condensed 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 March 31, 2017 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2017. 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, 2016 filed on October 7, 2016 and Management’s Discussion and Analysis of Financial Condition and Results of Operations therein. 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, 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 March 31, 2017: Balance at December 31, Quoted Prices Significant Significant 2016 Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Assets: Trademarks $ 12,244 $ – $ – $ 12,244 Total Financial Assets $ 12,244 $ – $ – $ 12,244 Following is a summary of activity through March 31, 2017 of the fair value of intangible assets valued using Level 3 inputs: Accumulated Asset Amortization Net Intangibles - June 30, 2016 $ 8,148 $ (684 ) $ 7,464 Additions 4,096 – 4,096 Amortization – (570 ) (570 ) Intangibles - March 31, 2017 $ 12,244 $ (1,254 ) $ 10,990 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. The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis at March 31, 2017: Balance at March 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Liabilities: Derivative Liabilities $ 23,918 $ – $ – $ 23,918 Total Financial Assets $ 23,918 $ – $ – $ 23,918 Following is a summary of activity through March 31, 2017 of the fair value of derivative liabilities valued using Level 3 inputs: Balance at June 30, 2016 $ – Note inception date fair value 21,013 Change in fair value during 2017 2,905 Balance at March 31, 2017 $ 23,918 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 financial statements and the factors within it, 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 and the substantial doubt of the Company to continue as a going concern for a reasonable period of time. The Company sustained net losses of $539,008 and cash used in operating activities of $222,898 for the nine months ended March 31, 2017. The Company had working capital, stockholders’ equity and accumulated deficit of $52,435, $93,610 and $4,549,346, respectively, at March 31, 2017. 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, 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. 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. Dilutive common stock equivalent shares which may dilute future earnings per share consist of convertible notes and warrants convertible into 6,172,169 common shares as of March 31, 2017. Equivalent shares are not utilized when the effect is anti-dilutive. 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 March 31, 2017. 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 March 31, 2017 through the date these unaudited financial statements were issued. Revenue Recognition The Company recognizes revenue for our services in accordance with ASC 605-10, “Revenue Recognition in Financial Statements.” Under these guidelines, revenue is recognized on transactions when all of the following exist: persuasive evidence of an arrangement did exist, delivery of service has occurred, the sales price to the buyer is fixed or determinable and collectability is reasonably assured. The Company has no revenue streams at this time. Income Taxes The Company adopted the provisions of ASC 740-10, “Accounting for Uncertain Income Tax Positions.” When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all highly certain of being upheld upon examination. As such, the Company has not recorded a liability for unrecognized tax benefits. As of March 31, 2017, tax years 2012 - 2016 remain open for IRS audit. The Company has received no notice of audit from the IRS for any of the open tax years.

2. Entry Into a Definitive Agre

2. Entry Into a Definitive Agreement	9 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Entry Into a Definitive Agreement	Freedom Leaf Inc. f/k/a Arkadia International, Inc., a Nevada corporation and the public company (the “Company,” “Public Company,” “we,” “us,” “our”) entered into a merger agreement with a private Nevada corporation, Freedom Leaf Inc. (the “Private Company”). Prior to the reverse merger, Richard C. Cowan, the officer and director of the Public Company, had acquired the majority of its outstanding common stock. Clifford J. Perry, the Private Company’s sole officer and director pre-merger (“Perry”), was the owner of record of all of the outstanding common shares of the Private Company (the “Private Company Stock”) prior to the merger. Pursuant to the merger, the Private Company was merged into the Public Company, and Perry, the Private Company’s shareholder, received 83,401.2 shares of Public Company common stock for each share of Private Company stock pre-merger, or 83,401,200 total shares of the Company’s common stock. The closing of the merger 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, we filed Articles of Merger in Nevada consummating the merger, and shareholders of the Private Company pre-merger (Perry) owned approximately 48.1% of our issued and outstanding common stock post-merger. Following the Share Exchange, the Company focused on pursuing Private Company’s historical businesses. The foregoing description of the merger agreement and transaction does not purport to be complete and is qualified in its entirety by the merger agreement, a copy of which has been filed as Exhibit 10.1 to our Quarterly Report 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 merger represents a “reverse merger” rather than a business combination, and Private Company is deemed to be the accounting acquirer in the transaction. The merger 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 merger 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 merger will include the assets and liabilities of the Public Company and the Private Company, the historical operations of the Private Company and operations of both companies from the closing date of the Merger. Licensing Rights On February 8, 2016, the Company and Freedom Leaf 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 with the terms of the definitive agreement incorporating the material terms 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. FLNL is a shareholder (common stock and warrants to purchase additional common stock) of the Company. On December 15, 2016, the Company and FLNL executed the license agreement. The agreement provided for a licensing fee of $250,000 with a payment schedule as follows: $70,869 which has been paid from the date of the MOU until the date of the agreement; $25,000 payment every two months, commencing on April 10, 2017 with the last payment on April 10, 2018, and a final payment of $4,131 on June 10, 2018. As the Company is allowing for progress payments, the balance is shown net of imputed interest on the balance sheet. The Company also provided FLNL with warrants to purchase up to 1,000,000 shares of common stock. The warrants have an exercise price of $0.05. The warrants can be exercised as follows: 250,000 warrants between June 2017 and August 2017; 250,000 warrants between September 2017 and November 2017; 250,000 warrants between December 2017 and February 2018; and 250,000 warrants between March 2018 and May 2018. See Note 6. On December 15, 2016, the Company and Freedom Leaf Iberia, B.V. (“FLI”), a company incorporated under the laws of the Netherlands, executed a license agreement. The licensing agreement provides FLI the distribution rights to the Company’s magazine and other “Freedom Leaf” branded merchandise. The territory of the agreement is Spain and Portugal. The agreement provided for a license fee of $250,000 payable to the Company. The payment schedule provides for a $25,000 payment every two months, beginning on April 20, 2017, concluding on April 20, 2018, with a final payment of $75,000 on June 20, 2018. As the Company is allowing for progress payments, the balance is shown net of imputed interest on the balance sheet. The Company also provided FLI with warrants to purchase up to 1,000,000 shares of common stock. The warrants have an exercise price of $0.05. The warrants can be exercised as follows: 250,000 warrants between June 2017 and August 2017; 250,000 warrants between September 2017 and November 2017; 250,000 warrants between December 2017 and February 2018; and 250,000 warrants between March 2018 and May 2018. See Note 6. On March 31, 2017, the Company entered into a license agreement with BBD Healthcare Strategies, LLC, a Florida limited liability company (“BBDHS”), pursuant to which BBDHS received distribution rights to the Company’s magazine and other “Freedom Leaf” branded merchandise for the State of Florida, in consideration of (1) a license fee of $250,000, paid $25,000 at execution, and $25,000 due August 2017, October 2017, December 2017, February 2018, March 2018, April 2018, May 2018 and concluding June 2018, with a final payment of $50,000, (2) ongoing royalties of 5% for sales of Company merchandise purchased from the Company, (3) ongoing royalties of 10% for sales of Company merchandise purchased from a third party supplier, and (4) ongoing royalties of 33% for Company seminars and conferences. As the Company is allowing for progress payments, the balance is shown net of imputed interest on the balance sheet. The Company also provided BBDHS with warrants to purchase 1,200,000 shares of Company common stock at an exercise price of $0.05, exercisable as follows: 240,000 shares between September 1, 2017 and October 31, 2017, 240,000 shares between November 1, 2017 and December 31, 2017, 240,000 shares between January 1, 2018 and February 28, 2018, 240,000 shares between March 1, 2018 and May 30, 2018, and 240,000 shares between June 1, 2018 and July 30, 2018. See Note 6. Incubation Agreement On January 18, 2016, the Company and Plants to Paper, LLC (“PTP”), a New Jersey limited liability company, executed an Incubation Agreement. PTP owned the patent pending application 62/245,153 (the “Patent”) with the title being “Rolling Papers and Blunt Wraps made from 100% Marijuana.” PTP agreed to transfer its ownership rights in the patent application to the Company, as well as PTP’s Medical Marijuana / Cannabis / Hemp Industry Incubator program. The Company agreed to supply management services and to fund the early stage development of PTP. The Incubation Agreement is for a period of twelve months. PTP will provide the Company with 20% of the outstanding membership shares of PTP in exchange for its services. The costs of patent registrations in the United States and other countries will be the liability of PTP. As of March 31, 2017, PTP had no activity. On February 1, 2017, the Agreement was modified for the following items: a) to provide 25% of the outstanding membership shares of PTP; b) require that the Patent be assigned to PTP; and c) acknowledge that the ownership rights have not been transferred to the Company as of February 1, 2017. Sales Representation Contract On December 22, 2016, the Company and NuAxon BioScience, Inc. (“NuAxon”), a Delaware corporation, executed a Sales Representation Contract. NuAxon is a manufacturer and distributor for bulk extracts, Rebel Herbs brand products, and Intelligence Tree brand products. The contract appoints the Company as NuAxon’s sales representative worldwide. The contract is for a period of one year and shall automatically renew for successive terms of the same duration. The contract provides a commission for sales by the Company at rates as follows: a) bulk extracts is 9% with a 2% bonus on annual sales above $500,000; b) Rebel Herbs and Intelligence Tree brand products is 10% with a 3% bonus on annual sales above $1,000,000. As of March 31, 2017, there have been no sales or commissions earned. Equipment Sales Representative Contract On December 22, 2016, the Company and NuAxon executed an Equipment Sales Representative Contract. NuAxon is a manufacturer and distributor for extraction equipment. The contract appoints the Company as NuAxon’s equipment sales representative worldwide. The contract is for a period of one year and shall automatically renew for successive terms of the same duration. The contract provides a commission for sales by the Company at various rates ranging from 3% to 10%, dependent on the cumulative annual sales. On March 15, 2017, the Company entered into an Exclusive Distribution Agreement with NuAxon to sell NuAxon’s CO2 extraction equipment pursuant to which the Company would be paid increasing commissions depending on gross sales of the equipment. On March 16, 2017, the Company issued a purchase order (the “Purchase Order”) to NuAxon to purchase extraction equipment for one of the Company’s customers. As of March 31, 2017, there were sales of $210,000.

3. Commitments and Contingencie

3. Commitments and Contingencies	9 Months Ended
	Mar. 31, 2017
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 December 31, 2019. This facility serves as our corporate headquarters. After December 31, 2017, the Company has the option to opt out of the lease. Future minimum lease payments under these leases are as follows: 2017 $ 5,982 2018 23,928 2019 18,943 Total $ 48,853 Rent expense for the nine months ended March 31, 2017 and 2016 was $28,021 and $31,721, respectively.

4. Related Parties

4. Related Parties	9 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Parties	Richard C. Cowan (“Cowan”), a director and former officer of the Company, has payables and accruals due to him of $203,190 and $100,000 as of March 31, 2017 and June 30, 2016, respectively. The payable, as agreed upon, is greater than one year, without any other set terms for repayment. Imputed interest is immaterial. Clifford J. Perry (“Perry”), Chief Executive officer, Chief Financial Officer, and a director of the Company, has payables and accruals due to him of $116,405 and $34,500 as of March 31, 2017 and June 30, 2016, respectively. Imputed interest is immaterial. Raymond P. Medeiros (“Medeiros”), a director of the Company, has payables and accruals due to him of $42,070 and $10,500 as of March 31, 2017 and June 30, 2016, respectively. Imputed interest is immaterial. A shareholder of the Company is owed $0 and $10,000 as of March 31, 2017 and June 30, 2016, respectively. On May 25, 2016, Perry converted 68,401,200 shares of common stock into 684,012 shares of Series A preferred stock. See Note 6. On May 25, 2016, Cowan converted 26,401,000 shares of common stock into 264,010 shares of Series A preferred stock. See Note 6. On June 30, 2016, Cowan converted $225,892 of payables and accruals into 2,226,154 shares of common stock. The conversion was at a 50% discount or $0.09 per share. As of March 31, 2017, these shares had not been issued and were recorded as issuable. The shares were issued in May 2017. See Note 6.

5. Convertible Notes Payable, N

5. Convertible Notes Payable, Net of Premiums and Notes Payable	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Convertible Notes Payable, Net of Premiums and Notes Payable	Convertible notes payable, all classified as current at March 31, 2017, consist of the following: Convertible notes, net of discounts and notes payable March 31, 2017 June 30, 2016 Principal, Principal, Debt net of Debt net of Principal Discounts Discounts Principal Discounts Discounts Swiss Allied Trust, Inc. (a) $ – $ – $ – $ 50,000 $ (24,794 ) $ 25,206 Swiss Allied Trust, Inc. (a) – – – 50,000 (30,685 ) 19,315 Adar Bays, LLC (a) 25,000 (4,799 ) 20,201 – – – Eagle Equities, LLC (a) 25,000 (7,089 ) 17,911 – – – Total $ 50,000 $ (11,888 ) $ 38,112 $ 100,000 $ (55,479 ) $ 44,521 (a) Convertible 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 subsequently amortized. The Company has recorded accrued interest of $467 as of March 31, 2017. On April 15, 2016, Mr. Perlowin converted the principal of this promissory note into 50,000 shares of common stock (see Note 6). The accrued interest was not converted. 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 subsequently amortized. The Company has recorded accrued interest of $408 as of March 31, 2017. On April 15, 2016, Mr. Perlowin converted the principal of this promissory note into 50,000 shares of common stock (see Note 6). The accrued interest was not converted. 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 December 31, 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 subsequently amortized. The Company has recorded accrued interest of $986 as of March 31, 2017. On February 19, 2016, Ms. Ogorodnikova granted the Company an extension on the due date to June 30, 2016. On April 15, 2016, Ms. Ogorodnikova converted the principal of this promissory note into 125,000 shares of common stock (see Note 6). The accrued interest was not converted. 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. On January 26, 2016, the Company received $50,000 from Swiss Allied as the second tranche of the convertible promissory note. 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 March 31, 2016, $14,795 was amortized. A beneficial conversion feature of $50,000 was recorded and, as of March 31, 2016, $8,904 has been amortized. For the initial tranche, the Company has recorded accrued interest of $3,211 as of March 31, 2017. For the second tranche, the Company has recorded accrued interest of $2,739 as of March 31, 2017. The beneficial conversion features were 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. On March 10, 2017, Swiss Allied and the Company entered into an agreement to convert all outstanding balances due to Swiss Allied into 3,000,000 shares of common stock. 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. As of March 31, 2016, Swiss Allied had not exercised the first warrant therefore, the warrant had expired as of said date. On April 8, 2016, Swiss Allied converted warrants for 4,800,000 shares of common stock in exchange for $24,000. The Company agreed to amend the obligations of Swiss Allied to accommodate the extension of the warrant until June 5, 2016. As of June 30, 2016, the warrant had expired. On October 10, 2016, the Company executed a collateralized secured promissory note with Adar Bays, LLC (“Adar”) for $25,000. The Company netted $23,000 due to legal fees of $2,000. The note has a conversion discount of 45% based on the lowest closing price of the 20 days prior to conversion. The Company recorded a debt discount of $25,000 and as of March 31, 2017, had recorded $11,712 of amortization. The note matures on October 10, 2017 and bears interest at 8%. As of March 31, 2017, the accrued interest was $1,320. On April 6, 2017, the Company prepaid Adar $38,400 for full settlement of this note (see Note 8). On November 1, 2016, the Company executed a collateralized secured promissory note with Eagle Equities, LLC (“Eagle”) for $25,000. The Company netted $23,000 due to legal fees of $2,000. The note has a conversion discount of 45% based on the lowest closing price of the 20 days prior to conversion. The Company recorded a debt discount of $25,000 and as of March 31, 2017, had recorded $10,274 of amortization. The note matures on November 1, 2017 and bears interest at 8%. As of March 31, 2017, the accrued interest was $1,100. On April 26, 2017, Eagle sold its convertible note to PureEnergy 714 LLC with no change in terms (see Note 8).

6. Stockholders' Deficit

6. Stockholders' Deficit	9 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Stockholders' Deficit	Series A Preferred Stock On May 24, 2016, the Board of Directors of the Company authorized amending the Company’s Articles of Incorporation to authorize 10,000,000 shares of “blank check” preferred stock and designating 1,000,000 of the shares as Series A Preferred Stock. Each share of the Series A Preferred Stock is entitled to 500 votes and is convertible into 100 shares of common stock. On May 25, 2016, Perry converted 68,401,200 shares of common stock into 684,012 shares of Series A preferred stock. See Note 4. On May 25, 2016, Cowan converted 26,401,000 shares of common stock into 264,010 shares of Series A preferred stock. See Note 4. 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 its authorized capital 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. Previously, 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. 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. Previously, 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. 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. Previously, 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. 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. Previously, 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. In October 2015, the Company issued 50,000 shares of 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 $10,000, was recorded. On November 2, 2015, the Company issued 125,000 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. On February 2, 2016, Dobrucki exercised a warrant for 500,000 shares of common stock for $10,000, the exercise price of the warrants at $0.02 per share. On February 15, 2016, the Company issued 750,000 shares of common stock to various subcontractors for their services. The current price at that date was $0.227. Our common stock is thinly traded therefore our price, as management has determined, may not be indicative of our valuation. Previously, 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, therefore, the issuance on was valued at $150,000, was recorded. On February 15, 2016, the Company issued 50,000 shares of common stock to an employee for their services. The current price at that date was $0.227. Our common stock is thinly traded therefore our price, as management has determined, may not be indicative of our valuation. Previously, 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 $10,000, was recorded. On February 24, 2016, the Company issued 100,000 shares of common stock to various subcontractors for their services. The current price at that date was $0.227. Our common stock is thinly traded therefore our price, as management has determined, may not be indicative of our valuation. Previously, 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 $20,000, was recorded. On March 17, 2016, the Company issued 50,000 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. On March 18, 2016, the Company issued 10,000 shares of common stock to an employee 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 $2,000, was recorded. As of June 30, 2016, the stock was not issued therefore recorded as issuable. On April 8, 2016, Swiss Allied exercised a portion of a warrant for common stock into 400,000 shares of common stock of the Company in exchange for $24,000. As of June 30, 2016, the stock was not issued therefore recorded as issuable. On April 15, 2016, Bruce Perlowin converted the principal ($5,000) of his promissory note into 50,000 shares of common stock (see Note 5). On April 15, 2016, Bruce Perlowin converted the principal ($5,000) of his promissory note into 50,000 shares of common stock (see Note 5). On April 15, 2016, Svetlana Ogorodnikova converted the principal ($12,500) of her promissory note into 125,000 shares of common stock (see Note 5). On May 2, 2016, Freedom Leaf Iberia, B.V. exercised a cashless conversion of its 1,000,000 warrants for common stock of the Company into 889,868 shares of common stock of the Company. As of June 30, 2016, the stock was not issued therefore recorded as issuable. On May 2, 2016, Freedomleaf Netherlands, B.V. exercised a cashless conversion of its 1,000,000 warrants for common stock of the Company into 889,868 shares of common stock of the Company. As of June 30, 2016, the stock was not issued therefore recorded as issuable. On May 25, 2016, Perry converted 68,401,200 shares of common stock into 684,012 shares of Series A preferred stock. See Note 4. On May 25, 2016, Cowan converted 26,401,000 shares of common stock into 264,010 shares of Series A preferred stock. See Note 4. On June 30, 2016, Cowan converted $225,892 of payables and accruals into 2,226,154 shares of common stock. The conversion was at a 50% discount or $0.09 per share. As of June 30, 2016, these shares had not been issued and were recorded as issuable. See Note 4. On June 30, 2016, the Company determined that on February 15, 2016, there was a duplicate issuance to an entity, as they were already issued on October 12, 2015. The Company cancelled 200,000 shares on June 30, 2016, thereby reducing the stock-based compensation previously recorded by $40,000. On July 1, 2016, the Company hired an employee and, as a condition of the employment contract, the Company is obligated to issue 500,000 shares of common stock to the employee. The shares were valued at $0.175 per share. The Company recorded an expense of $87,500. On July 19, 2016, the Company issued 100,000 shares of common stock to its transfer agent, Globex Transfer, LLC. The shares were valued at $0.194 per share. The Company recorded an expense of $19,400. On July 21, 2016, the Company issued 1,385,000 shares of previously issuable common stock. On October 17, 2016, the Company issued 268,167 shares of common stock and 268,167 warrants for common stock to Weintraub Law Group, LLC for the settlement of payables of $15,065. On October 18, 2016, the Company issued 24,000 shares of common stock to William Guarino for consulting. The shares were valued at $0.095. Stock-based compensation of $2,280 was recorded. On October 18, 2016, the Company issued 24,000 shares of common stock to Anthony Catalano for consulting. The shares were valued at $0.095. Stock-based compensation of $2,280 was recorded. On October 18, 2016, the Company issued 2,501,000 shares of common stock to Trends Investments, Inc. for consulting. The shares were valued at $0.095. Stock-based compensation of $237,595 was recorded. On November 3, 2016, the Company sold 500,000 shares for $25,000 to PB, LLC. The shares were valued at $0.05. On November 25, 2016, the Company issued 50,000 shares of common stock to Dr. Robert Melamede for consulting. The shares were valued at $0.14. Stock-based compensation of $7,000 was recorded. On November 25, 2016, the Company issued 50,000 shares of common stock to Dr. David Barton for consulting. The shares were valued at $0.14. Stock-based compensation of $7,000 was recorded. On November 2, 2016, the Company sold 500,000 shares for $30,000 to Reese. The shares were valued at $0.06. On November 3, 2016, the Company sold 312,500 shares for $25,000 to Dorothy Herbst. The shares were valued at $0.08. On January 4, 2017, the Company sold 133,334 shares of common stock for $10,000 to Robert J. Kane at a price of $0.075 per share. On January 9, 2017, the Company sold 166,667 shares of common stock for $10,000 to Robert J. Kane at a price of $0.06 per share. On January 11, 2017, the Company sold 1,000,000 shares of common stock for $25,000 to Felipe Menezes at a price of $0.025 per share. On January 11, 2017, the Company issued 90,000 shares of common stock to one of the Company’s attorneys as settlement of payables of $7,312. The shares were valued at $0.1122. On January 18, 2017, the Company sold 1,000,000 shares of common stock for $25,000 to Felipe Menezes at a price of $0.025 per share. On January 30, 2017, the Company entered into an agreement with CorporateAds.com, LLC for services. The compensation provides a minimal $500 per week payment, 150,000 shares of common stock, and 150,000 warrants for common stock. The warrants have an exercise price of $0.10 per share with an expiration 18 months after issuance. The agreement is for 15 days and has an auto renewal feature for an additional 75 days. During the 75-day period, the Company will pay $500 for each additional week. On February 1, 2017, both parties agreed to an addendum to the agreement to change the exercise price of $0.10 for the warrants to the following: 50,000 of the warrants have an exercise price of $0.10 per share; 50,000 of the warrants have an exercise price of $0.125 per share; and 50,000 of the warrants have an exercise price of $0.15 per share. On March 10, 2017, the Company issued 3,000,000 shares of common stock to Swiss Allied, as a conversion of notes payable of $100,000. The shares were valued $0.07. On March 15, 2017, the Company issued 211,267 shares of common stock to one of the Company’s attorneys as settlement of payables of $7,000. The shares were valued at $0.0699. On March 17, 2017, the Company issued 224,000 shares of common stock to a consultant of the Company as settlement of payables of $11,230. The shares were valued at $0.0736. On March 29, 2017, the Company issued 211,267 shares of common stock to a consultant of the Company as settlement of payables of $15,000. The shares were valued at $0.0585. Warrants On November 2, 2015, the Company issued 1,000,000 warrants for common stock to Freedom Leaf Iberia, B.V., in regards to a contemplated future transaction between the Company and Freedom Leaf Iberia, 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 May 2, 2016, Freedom Leaf Iberia exercised a cashless conversion of its 1,000,000 warrants for common stock of the Company into 889,868 shares of common stock of the Company. On November 2, 2015, the Company issued 1,000,000 warrants for common stock to Freedom Leaf Netherlands, B.V., in regards to a contemplated future transaction between the Company and Freedom Leaf 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 May 2, 2016, Freedom Leaf Netherlands, B.V. exercised a cashless conversion of its 1,000,000 warrants for common stock of the Company into 889,868 shares of common stock of the Company. 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 February 2, 2016, Dobrucki exercised a warrant for 500,000 shares of common stock for $10,000, the exercise price of the warrants at $0.02 per share. As of March 31, 2016, the shares were not issued therefore they are recorded as issuable. On December 14, 2015, the Company executed a convertible promissory note for $100,000 with Swiss Allied (see Note 5). 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 March 31, 2017, 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. See Note 5 for amendment on the warrant that matured on March 31, 2016. On October 17, 2016, the Company issued 268,167 shares of common stock and 268,167 warrants for common stock to Weintraub Law Group, LLC for the settlement of payables of $15,065. On December 15, 2016, the Company and FLNL executed a license agreement (see Note 2). As part of the agreement, the Company provided FLNL with warrants to purchase up to 1,000,000 shares of common stock. The warrants have an exercise price of $0.05. The warrants can be exercised as follows: 250,000 warrants between June 2017 and August 2017; 250,000 warrants between September 2017 and November 2017; 250,000 warrants between December 2017 and February 2018, and; 250,000 warrants between March 2018 and May 2018. The warrants will be expensed according to their respective vesting schedule. On December 15, 2016, the Company and FLI executed a license agreement (see Note 2). The Company provided FLI with warrants to purchase up to 1,000,000 shares of common stock. The warrants have an exercise price of $0.05. The warrants can be exercised as follows: 250,000 warrants between June 2017 and August 2017; 250,000 warrants between September 2017 and November 2017; 250,000 warrants between December 2017 and February 2018, and; 250,000 warrants between March 2018 and May 2018. The warrants will be expensed according to their respective vesting schedule. On January 16, 2017, the Company issued 1,000,000 warrants for common stock to Vincent Moreno for future consulting services. The warrants have an exercise price of $0.05 and expire in five years. On January 30, 2017, the Company entered into an agreement with CorporateAds.com, LLC for services. The compensation provides a minimal $500 payment, 150,000 shares of common stock, and 150,000 warrants for common stock. The warrants have an exercise price of $0.10 per share with an expiration 18 months after issuance. The agreement is for 15 days and has an auto renewal feature for an additional 75 days. During the 75-day period, the Company will pay $500 for each additional 15 days. On February 1, 2017, both parties agreed to an addendum to the agreement to change the exercise price of $0.10 for the warrants to the following: 50,000 of the warrants have an exercise price of $0.10 per share; 50,000 of the warrants have an exercise price of $0.125 per share; and 50,000 of the warrants have an exercise price of $0.15 per share. Stock Option Plan On June 27, 2016, the Board of Directors approved the 2016 Stock Option Plan which has reserved 10,000,000 shares of common stock.

7. Revenue Classes

7. Revenue Classes	9 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Revenue Classes	Selected financial information for the Company’s operating revenue classes as of March 31, 2017 and 2016, are as follows: For the nine months ended Revenues: March 31, 2017 2016 Magazine related $ 29,939 $ 72,112 Referral fees 11,474 3,300 Licensing fees 763,549 25,000 Equipment sales commissions 18,242 – Total $ 823,204 $ 100,412 For the nine months ended Direct costs of revenue: March 31, 2017 2016 Magazine related $ 88,792 $ 96,398 Referral fees – – Licensing fees – – Equipment sales commissions – – Total $ 88,792 $ 96,398 The Company’s four revenue classes are magazine related, referral fees, licensing fees (see Note 2) and equipment sales commissions (see Note 2).

8. Subsequent Events

8. Subsequent Events	9 Months Ended
	Mar. 31, 2017
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 April 1, 2017, the Company entered into a one year agreement with Eighth Day Create to provide creative services for the Company’s magazine and web site and prepare the advertisements for the advertisers of the magazine. The Company will compensate the vendor with monthly cash payments of $2,000 and an additional $6,000 in cash or the Company’s common stock, valued at $0.10 per share. On April 6, 2017, the Company prepaid Adar $38,400 for full settlement of this note (see Note 5). On April 26, 2017, Eagle sold its convertible note to PureEnergy 714 LLC with no change in terms (see Note 5). On May 10, 2017, the Company executed a convertible promissory note with Power Up Lending Group Ltd. in the amount of $75,000. The note matures on February 20, 2018 and bears interest at 12%. The note is convertible with a 35% discount. The applicable discounts and derivative calculations will be recorded.

1. Nature of Business, Presen15

1. Nature of Business, Presentation and Going Concern (Policies)	9 Months Ended
	Mar. 31, 2017
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 agreements with the Sellers, Cowan purchased from the Sellers 6,950,100 shares of the Company’s outstanding restricted common stock for $100,000, representing 93% of the then-outstanding common stock of the Company. On November 6, 2014, the Company merged with Freedom Leaf Inc., a private Nevada corporation (“Private Company”). 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 acquisition of the Private Company via the merger transaction represents a "reverse merger" rather than a business combination, and Private Company is deemed to be the accounting acquirer in the transaction. The merger is being accounted for as a reverse-merger and recapitalization. Private Company is treated as the acquirer for financial reporting purposes, and the predecessor public company (Freedom Leaf Inc., f/k/a Arkadia International, Inc.) is treated as the acquired company. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements of the Company prior to the merger are those of the Private Company, and were recorded at the historical cost basis of the Private Company, and the financial statements after completion of the merger include the assets and liabilities of both the predecessor public company and Private Company, the historical operations of Private Company, and the operations of both companies from the date of the merger.
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 are intended to give the Freedom Leaf brand greater exposure. The Company generates 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. The Company also sells licenses to use the Freedom Leaf brand in different countries and states. We have entered into two license agreements: for Spain and Portugal, for The Netherlands, and for Florida.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed 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 March 31, 2017 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2017. 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, 2016 filed on October 7, 2016 and Management’s Discussion and Analysis of Financial Condition and Results of Operations therein.
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, 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 March 31, 2017: Balance at December 31, Quoted Prices Significant Significant 2016 Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Assets: Trademarks $ 12,244 $ – $ – $ 12,244 Total Financial Assets $ 12,244 $ – $ – $ 12,244 Following is a summary of activity through March 31, 2017 of the fair value of intangible assets valued using Level 3 inputs: Accumulated Asset Amortization Net Intangibles - June 30, 2016 $ 8,148 $ (684 ) $ 7,464 Additions 4,096 – 4,096 Amortization – (570 ) (570 ) Intangibles - March 31, 2017 $ 12,244 $ (1,254 ) $ 10,990 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. The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis at March 31, 2017: Balance at March 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Liabilities: Derivative Liabilities $ 23,918 $ – $ – $ 23,918 Total Financial Assets $ 23,918 $ – $ – $ 23,918 Following is a summary of activity through December 31, 2014 of the fair value of derivative liabilities valued using Level 3 inputs: Balance at June 30, 2016 $ – Note inception date fair value 21,013 Change in fair value during 2017 2,905 Balance at March 31, 2017 $ 23,918
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 financial statements and the factors within it, 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 and the substantial doubt of the Company to continue as a going concern for a reasonable period of time. The Company sustained net losses of $539,008 and cash used in operating activities of $222,898 for the nine months ended March 31, 2017. The Company had working capital, stockholders’ equity and accumulated deficit of $52,435, $93,610 and $4,549,346, respectively, at March 31, 2017. 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, 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.
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. Dilutive common stock equivalent shares which may dilute future earnings per share consist of convertible notes and warrants convertible into 6,172,169 common shares as of March 31, 2017. Equivalent shares are not utilized when the effect is anti-dilutive.
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 March 31, 2017.
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 March 31, 2017 through the date these unaudited financial statements were issued.
Revenue Recognition	Revenue Recognition The Company recognizes revenue for our services in accordance with ASC 605-10, “Revenue Recognition in Financial Statements.” Under these guidelines, revenue is recognized on transactions when all of the following exist: persuasive evidence of an arrangement did exist, delivery of service has occurred, the sales price to the buyer is fixed or determinable and collectability is reasonably assured. The Company has no revenue streams at this time.
Income Taxes	Income Taxes The Company adopted the provisions of ASC 740-10, “Accounting for Uncertain Income Tax Positions.” When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company believes its tax positions are all highly certain of being upheld upon examination. As such, the Company has not recorded a liability for unrecognized tax benefits. As of March 31, 2017, tax years 2012 - 2016 remain open for IRS audit. The Company has received no notice of audit from the IRS for any of the open tax years.

1. Nature of Business, Presen16

1. Nature of Business, Presentation and Going Concern (Tables)	9 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fair value of financial instruments	Balance at December 31, Quoted Prices Significant Significant 2016 Assets Inputs Inputs (Level 1) (Level 2) (Level 3) Assets: Trademarks $ 12,244 $ – $ – $ 12,244 Total Financial Assets $ 12,244 $ – $ – $ 12,244 Balance at March 31, 2017 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Liabilities: Derivative Liabilities $ 23,918 $ – $ – $ 23,918 Total Financial Assets $ 23,918 $ – $ – $ 23,918
Level 3 activity	Balance at June 30, 2016 $ – Note inception date fair value 21,012 Change in fair value during 2017 2,906 Balance at March 31, 2017 $ 23,918
Intangible asset roll forward	Accumulated Asset Amortization Net Intangibles - June 30, 2016 $ 8,148 $ (684 ) $ 7,464 Additions 4,096 – 4,096 Amortization – (570 ) (570 ) Intangibles - March 31, 2017 $ 12,244 $ (1,254 ) $ 10,990

3. Commitments and Contingenc17

3. Commitments and Contingencies (Tables)	9 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease payments	2017 $ 5,982 2018 23,928 2019 18,943 Total $ 48,853

5. Convertible Notes Payable,18

5. Convertible Notes Payable, Net of Premiums and Notes Payable (Tables)	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of convertible notes	Convertible notes, net of discounts and notes payable March 31, 2017 June 30, 2016 Principal, Principal, Debt net of Debt net of Principal Discounts Discounts Principal Discounts Discounts Swiss Allied Trust, Inc. (a) $ – $ – $ – $ 50,000 $ (24,794 ) $ 25,206 Swiss Allied Trust, Inc. (a) – – – 50,000 (30,685 ) 19,315 Adar Bays, LLC (a) 25,000 (4,799 ) 20,201 – – – Eagle Equities, LLC (a) 25,000 (7,089 ) 17,911 – – – Total $ 50,000 $ (11,888 ) $ 38,112 $ 100,000 $ (55,479 ) $ 44,521 (a) Convertible

7. Revenue Classes (Tables)

7. Revenue Classes (Tables)	9 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Revenues and Costs by revenue class	For the nine months ended Revenues: March 31, 2017 2016 Magazine related $ 29,939 $ 72,112 Referral fees 11,474 3,300 Licensing fees 763,549 25,000 Equipment sales commissions 18,242 – Total $ 823,204 $ 100,412 For the nine months ended Direct costs of revenue: March 31, 2017 2016 Magazine related $ 88,792 $ 96,398 Referral fees – – Licensing fees – – Equipment sales commissions – – Total $ 88,792 $ 96,398

1. Nature of Business, Presen20

1. Nature of Business, Presentation and Going Concern (Details - Fair Value)	Mar. 31, 2017USD ($)
Assets:
Trademarks	$ 12,244
Total Financial Assets	12,244
Liabilities
Derivative Liabilities	23,918
Total Financial Liabilities	23,918
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Trademarks	0
Total Financial Assets	0
Liabilities
Derivative Liabilities	0
Total Financial Liabilities	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Trademarks	0
Total Financial Assets	0
Liabilities
Derivative Liabilities	0
Total Financial Liabilities	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Trademarks	11,419
Total Financial Assets	12,244
Liabilities
Derivative Liabilities	23,918
Total Financial Liabilities	$ 23,918

1. Nature of Business, Presen21

1. Nature of Business, Presentation and Going Concern (Details - Intangible activity) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Intangibles, beginning balance	$ 7,464
Additions	4,096
Amortization	(370)	$ (381)
Intangibles, ending balance	10,990
Intangible, gross	12,244
Accumulated amortization	$ (1,254)

1. Nature of Business, Presen22

1. Nature of Business, Presentation and Going Concern (Details - Level 3) - Fair Value, Measurements, Recurring [Member] - Fair Value, Inputs, Level 3 [Member]	9 Months Ended
	Mar. 31, 2017USD ($)
Derivative liability, beginning balance	$ 0
Note inception date fair value	21,013
Change in fair value	2,905
Derivative liability - ending balance	$ 23,918

1. Nature of Business, Presen23

1. Nature of Business, Presentation and Going Concern (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenues	$ 254,084	$ 68,762	$ 823,204	$ 100,412
Net loss	(27,200)	$ (459,044)	(539,008)	(2,500,831)
Working capital	52,435		52,435
Stockholders equity	93,610		93,610		$ (284,390)
Cash used in operations			(222,898)	$ (219,388)
Accumulated deficit	$ (4,549,346)		$ (4,549,346)		$ (4,010,338)
Antidilutive shares			6,827,788

2. Entry Into a Definitive Ag24

2. Entry Into a Definitive Agreement (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Freedom Leaf Iberia [Member]
Warrants issued		1,000,000
Warrant exercise price		$ .05
BBD Healthcare Strategies [Member]
Warrants issued	1,200,000
Warrant exercise price	$ .5
Nu Axon [Member]
Commissions earned	$ 210,000
MOU [Member] | Freedomleaf Netherlands [Member]
Warrants issued		1,000,000
Warrant exercise price		$ .05

3. Commitments and Contingenc25

3. Commitments and Contingencies (Details)	Mar. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 5,982
2,018	23,928
2,019	18,943
Total	$ 48,853

3. Commitments and Contingenc26

3. Commitments and Contingencies (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 28,021	$ 31,721

4. Related Parties (Details Nar

4. Related Parties (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2017
Accounts payable to related parties	$ 10,000	$ 0
Cowan
Due to related parties	$ 100,000	203,190
Conversion of common stock into preferred stock, preferred stock shares issued	264,010
Conversion of common stock into preferred stock, common shares converted	26,401,000
Accounts payable converted into common shares, amount converted	$ 225,892
Accounts payable converted into common shares, shares to be issued	2,226,154
Perry
Due to related parties	$ 34,500	116,405
Conversion of common stock into preferred stock, preferred stock shares issued	684,012
Conversion of common stock into preferred stock, common shares converted	68,401,200
Medeiros [Member]
Due to related parties	$ 10,500	42,070
Shareholder [Member]
Accounts payable to related parties	$ 10,000	$ 0

5. Convertible Notes Payable,28

5. Convertible Notes Payable, Net of Premiums and Notes Payable (Details) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Principal	$ 50,000	$ 100,000
Debt discounts	(11,888)	(55,479)
Principal, net of discounts	38,112	44,521
Swill Allied Trust Convertible Note [Member]
Principal	0	50,000
Debt discounts	0	(24,794)
Principal, net of discounts	0	25,206
Swill Allied Trust Convertible Note 2 [Member]
Principal	0	50,000
Debt discounts	0	(30,685)
Principal, net of discounts	0	19,315
Adar Bays, LLC [Member]
Principal	25,000	0
Debt discounts	(4,799)	0
Principal, net of discounts	20,201	0
Eagle Equities, LLC [Member]
Principal	25,000	0
Debt discounts	(7,089)	0
Principal, net of discounts	$ 17,911	$ 0

5. Convertible Notes Payable,29

5. Convertible Notes Payable, Net of Premiums and Notes Payable (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Debt face value	$ 50,000	$ 100,000
Debt discount	11,888	$ 55,479
Convertible Debt [Member] | Perlowin [Member]
Accrued interest	467
Convertible Debt [Member] | Ogorodnikova [Member]
Accrued interest	986
Convertible Debt [Member] | Swill Allied Trust [Member] | Tranche 1 [Member]
Accrued interest	3,211
Convertible Debt [Member] | Swill Allied Trust [Member] | Tranche 2 [Member]
Accrued interest	$ 2,739
Convertible Debt [Member] | Adar Bays, LLC [Member]
Debt issuance date	Oct. 10, 2016
Debt face value	$ 25,000
Debt interest rate	8.00%
Proceeds from convertible debt	$ 23,000
Legal fees	2,000
Debt discount	25,000
Amortization of debt discount	$ 11,712
Debt maturity date	Oct. 10, 2017
Accrued interest	$ 1,320
Convertible Debt [Member] | Eagle Equities, LLC [Member]
Debt issuance date	Nov. 1, 2016
Debt face value	$ 25,000
Debt interest rate	8.00%
Proceeds from convertible debt	$ 23,000
Legal fees	2,000
Debt discount	25,000
Amortization of debt discount	$ 10,274
Debt maturity date	Nov. 1, 2017
Accrued interest	$ 334
Convertible Debt 2 [Member] | Perlowin [Member]
Accrued interest	$ 408

6. Stockholders' Deficit (Detai

6. Stockholders' Deficit (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Jun. 30, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Stock cancelled, shares				200,000
Stock cancelled, value				$ 40,000
Stock and warrants issued for services		$ 616,942	$ 1,969,000
Proceeds from sale of stock		$ 80,000	$ 10,000
2016 Stock Option Plan [Member]
Shares authorized under plan	10,000,000			10,000,000
Previously Issuable Stock [Member]
Date of transaction		Jul. 21, 2016
Stock issued new, shares		1,385,000
Employees [Member]
Date of transaction	Oct. 12, 2015
Stock issued for compensation, shares	1,700,000
Stock issued for compensation, value	$ 340,000
Various Subcontractors [Member]
Date of transaction	Oct. 12, 2015
Stock issued for services, shares	2,010,000
Stock issued for services, value	$ 402,000
Unrelated Parties [Member]
Date of transaction	Oct. 31, 2015
Stock issued for services, shares	50,000
Stock issued for services, value	$ 10,000
Various Subcontractors [Member]
Date of transaction	Nov. 2, 2015
Stock issued for services, shares	125,000
Dobrucki [Member]
Date of transaction	Feb. 2, 2016
Warrant exercised, common shares issued	500,000
Proceeds from warrants exercised	$ 10,000
Various Subcontractors [Member]
Date of transaction	Feb. 15, 2016
Stock issued for services, shares	750,000
Stock issued for services, value	$ 150,000
Employee [Member]
Date of transaction	Feb. 15, 2016	Jul. 1, 2016
Stock issued for compensation, shares		500,000
Stock issued for compensation, value		$ 87,500
Stock issued for services, shares	50,000
Stock issued for services, value	$ 10,000
Various Subcontractors [Member]
Date of transaction	Feb. 24, 2016
Stock issued for services, shares	100,000
Stock issued for services, value	$ 20,000
Various Subcontractors [Member]
Date of transaction	Mar. 17, 2016
Stock issued for services, shares	50,000
Employee [Member] | Common Stock to be Issued [Member]
Date of transaction	Mar. 18, 2016
Stock issued for services, shares	10,000
Stock issued for services, value	$ 2,000
Swill Allied Trust [Member]
Stock issued on conversion of debt, shares issued		3,000,000
Stock issued on conversion of debt, debt converted		$ 100,000
Swill Allied Trust [Member] | Tranche 1 [Member] | Convertible Debt [Member]
Date of transaction		Apr. 8, 2016
Warrant exercised, common shares issued		400,000
Perlowin [Member]
Date of transaction	Apr. 15, 2016
Stock issued on conversion of debt, shares issued	100,000
Stock issued on conversion of debt, debt converted	$ 10,000
Ogorodnikova [Member]
Date of transaction	Apr. 15, 2016
Stock issued on conversion of debt, shares issued	125,000
Stock issued on conversion of debt, debt converted	$ 12,500
Freedom Leaf Iberia [Member]
Date of transaction				May 2, 2016
Warrant exercised, common shares issued				889,868
Warrant expense				$ 200,000
Freedom Leaf Iberia [Member] | Common Stock to be Issued [Member]
Date of transaction	May 2, 2016
Warrants converted	1,000,000
Shares issued upon warrant conversion	889,868
Freedomleaf Netherlands [Member]
Date of transaction				May 2, 2016
Warrant exercised, common shares issued				889,868
Warrant expense				$ 200,000
Freedomleaf Netherlands [Member] | Common Stock to be Issued [Member]
Date of transaction	May 2, 2016
Warrants converted	1,000,000
Shares issued upon warrant conversion	889,868
Globex Transfer [Member]
Date of transaction		Jul. 19, 2016
Stock issued for compensation, shares		100,000
Stock issued for compensation, value		$ 19,400
Weintraub Law Group [Member]
Date of transaction		Oct. 17, 2016
Stock issued new, shares		268,167
Warrants issued, shares		268,167
Stock and warrants issued for services		$ 15,065
William Guarino [Member]
Date of transaction		Oct. 18, 2016
Stock issued for services, shares		24,000
Stock issued for services, value		$ 2,280
Anthony Catalano [Member]
Date of transaction		Oct. 18, 2016
Stock issued for services, shares		24,000
Stock issued for services, value		$ 2,280
Trends Investments [Member]
Date of transaction		Oct. 18, 2016
Stock issued for services, shares		2,501,000
Stock issued for services, value		$ 237,595
PB LLC [Member]
Date of transaction		Nov. 3, 2016
Stock issued new, shares		500,000
Stock issued new, value		$ 25,000
Melamede [Member]
Date of transaction		Nov. 25, 2016
Stock issued for services, shares		50,000
Stock issued for services, value		$ 7,000
Barton [Member]
Date of transaction		Nov. 25, 2016
Stock issued for services, shares		50,000
Stock issued for services, value		$ 7,000
Reese [Member]
Date of transaction		Nov. 2, 2016
Proceeds from sale of stock		$ 30,000
Common stock issuable		500,000
Herbst [Member]
Date of transaction		Nov. 3, 2016
Stock issued new, shares		312,500
Stock issued new, value		$ 25,000
Kane [Member]
Date of transaction		Jan. 9, 2017
Stock issued for services, shares		300,001
Stock issued for services, value		$ 20,000
Menezes [Member]
Date of transaction		Jan. 11, 2017
Stock issued for services, shares		2,000,000
Stock issued for services, value		$ 50,000
Attorney [Member] | Settlement of Payables [Member]
Date of transaction		Jan. 11, 2017
Accounts payable converted into common shares, amount converted		$ 90,000
Accounts payable converted into common shares, shares to be issued		7,312
Attorney [Member] | Settlement of Payables [Member]
Date of transaction		Mar. 15, 2017
Accounts payable converted into common shares, amount converted		$ 211,267
Accounts payable converted into common shares, shares to be issued		7,000
Consultant [Member] | Settlement of Payables [Member]
Date of transaction		Mar. 17, 2017
Accounts payable converted into common shares, amount converted		$ 224,000
Accounts payable converted into common shares, shares to be issued		11,230
Consultant [Member] | Settlement of Payables [Member]
Date of transaction		Mar. 29, 2017
Accounts payable converted into common shares, amount converted		$ 211,267
Accounts payable converted into common shares, shares to be issued		15,000
Moreno [Member] | Future Services [Member]
Date of transaction		Jan. 16, 2017
Warrants issued, shares		1,000,000
Perry
Conversion of common stock into preferred stock, preferred stock shares issued	684,012
Conversion of common stock into preferred stock, common shares converted	68,401,200
Perry | Common Stock [Member]
Date of transaction	May 25, 2016
Conversion of common stock into preferred stock, common shares converted	68,401,200
Perry | Preferred Stock [Member]
Date of transaction	May 25, 2016
Conversion of common stock into preferred stock, preferred stock shares issued	684,012
Cowan
Date of transaction	Jun. 30, 2016
Conversion of common stock into preferred stock, preferred stock shares issued	264,010
Conversion of common stock into preferred stock, common shares converted	26,401,000
Accounts payable converted into common shares, amount converted	$ 225,892
Accounts payable converted into common shares, shares to be issued	2,226,154
Cowan | Common Stock [Member]
Date of transaction	May 25, 2016
Conversion of common stock into preferred stock, common shares converted	26,401,000
Cowan | Preferred Stock [Member]
Date of transaction	May 25, 2016
Conversion of common stock into preferred stock, preferred stock shares issued	264,010
Medeiros [Member]
Date of transaction	Oct. 12, 2015
Stock issued for services, shares	2,000,000
Stock issued for services, value	$ 400,000
Medeiros [Member] | Future Services [Member]
Date of transaction	Oct. 12, 2015
Stock issued for services, shares	3,000,000
Stock issued for services, value	$ 600,000

7. Revenue Classes (Details)

7. Revenue Classes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Revenues	$ 254,084	$ 68,762	$ 823,204	$ 100,412
Cost of revenues	$ 17,428	$ 33,865	88,792	96,398
Magazine related [Member]
Revenues			29,939	72,112
Cost of revenues			88,792	96,398
Referral Fees [Member]
Revenues			11,474	3,300
Cost of revenues			0	0
Licensing Fees [Member]
Revenues			763,549	25,000
Cost of revenues			0	0
Equipment sales commissions [Member]
Revenues			18,242	0
Cost of revenues			$ 0	$ 0