GL Brands (GRLB) 10-Q/A 21 May 19 2019 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2019	May 15, 2019
Document And Entity Information
Entity Registrant Name	Freedom Leaf Inc.
Entity Central Index Key	0001581545
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		223,180,095
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Current assets
Cash	$ 268,658	$ 54,380
Accounts receivable, net	341,889	161,975
Inventory, net	557,933	201,689
Prepaid expenses	234,898	567,280
Due from related party	0	28,606
Total current assets	1,403,378	1,013,930
Property and Equipment, net	4,189,751	4,786,050
Intangible assets, net	1,624,518	1,522,574
Goodwill	189,000	70,000
Cost method investments	1,370,400	995,400
Other assets	95,985	11,584
Total assets	8,873,032	8,399,538
Current liabilities
Accounts payable and accrued expenses	625,036	557,654
Accounts payable and accrued expenses to related parties	107,035	0
Current portion of long-term notes payable	542,503	95,000
Short-term notes payable	301,300	286,575
Deferred revenue	9,045	0
Total current liabilities	1,584,919	939,229
Non-current liabilities
Long-term notes payable, net of current portion	3,904,627	4,441,911
Total non-current liabilities	3,904,627	4,441,911
Total liabilities	5,489,546	5,381,140
Commitments and contingencies
Stockholders' equity
Common stock, $0.001 par value, 500,000,000 shares authorized, 223,180,095 and 185,369,365 shares issued, issuable, and outstanding at March 31, 2019 and June 30, 2018, respectively	223,177	185,370
Additional paid-in capital	16,880,262	12,377,907
Accumulated other comprehensive income	28,410	3,833
Accumulated deficit	(13,773,630)	(9,540,976)
Total Freedom Leaf Inc. stockholders' equity	3,359,167	3,027,082
Non-controlling interest	24,319	(8,684)
Total stockholders' equity	3,383,486	3,018,398
Total liabilities and stockholders' equity	8,873,032	8,399,538
Series A Preferred Stock
Stockholders' equity
Preferred stock	$ 948	$ 948

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2019	Jun. 30, 2018
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	223,180,095	185,369,365
Common stock, shares outstanding	223,180,095	185,369,365
Series A Preferred Stock
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

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue, net	$ 835,293	$ 56,254	$ 2,193,515	$ 63,913
Operating expenses
Direct costs of revenue	503,869	81,045	1,310,887	150,871
General and administrative	1,163,283	337,409	3,793,540	1,186,222
Depreciation and amortization	605,067	84,935	1,069,050	108,251
Bad debt expense	23,223	221,294	0	637,817
Marketing and selling	33,796	54,237	207,556	58,554
Total operating expenses	2,087,402	778,920	6,386,929	2,141,715
Operating loss	(1,252,109)	(722,666)	(4,193,414)	(2,077,802)
Other income (expense)
Interest expense	(2,420)	(1,659)	(14,411)	(14,439)
Loss on settlement of debt	0	(113,936)	0	(419,098)
Interest income	56	7	171	10,331
Loss on conversion of debt into common stock	0	(781,523)	0	(781,523)
Gain on extinguishment of liabilities	0	54,157	0	54,157
Gain on forgiveness of debt	0	0	100,000	0
Loss on expiration of option	(125,000)	0	(125,000)	0
Change in fair value of embedded conversion features	0	(36,575)	0	(59,127)
Beneficial conversion feature	0	34,178	0	(45,416)
Total other income (expense)	(127,364)	(845,351)	(39,240)	(1,255,115)
Provision for income taxes	0	0	0	0
Net loss before non-controlling interest	(1,379,473)	(1,568,017)	(4,232,654)	(3,332,917)
Loss attributable to non-controlling interest	3,454	6,876	33,003	6,876
Net loss attributable to common stockholders	$ (1,376,019)	$ (1,561,141)	$ (4,199,651)	$ (3,326,041)
Net loss attributable to common stockholders per share - basic and diluted	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.02)
Weighted average number of common shares outstanding - basic and diluted	221,396,199	158,509,748	213,163,928	137,114,271
Other Comprehensive Income (Loss)
Foreign currency translation adjustment	$ 15,774	$ 102	$ 24,577	$ 22
Total Comprehensive Loss	$ (1,360,245)	$ (1,561,039)	$ (4,175,074)	$ (3,326,019)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Preferred Stock	Common Stock Issuable	Common Stock	Stock Sub Rec	Additional Paid-In Capital	Non Controlling Interest	Accumulated Comprehensive Income	Subscription Receivable	Accumulated Deficit	Total
Beginning balance, shares at Jun. 30, 2017	948,022	1,793,195	109,308,600
Beginning balance, value at Jun. 30, 2017	$ 948	$ 1,793	$ 109,309	$ 0	$ 4,996,756	$ 0	$ 0	$ 0	$ (4,920,988)	$ 187,818
Issuance of common stock for services, shares		(1,793,195)	15,282,672
Issuance of common stock for services, value		$ (1,793)	$ 15,283		447,838				461,328
Net loss for period									(708,031)	(708,031)
Ending balance, shares at Sep. 30, 2017	948,022	0	124,591,272
Ending balance, value at Sep. 30, 2017	$ 948	$ 0	$ 124,592	0	5,444,594	0	0	0	(5,629,019)	(58,885)
Beginning balance, shares at Jun. 30, 2017	948,022	1,793,195	109,308,600
Beginning balance, value at Jun. 30, 2017	$ 948	$ 1,793	$ 109,309	0	4,996,756	0	0	0	(4,920,988)	187,818
Net loss for period										(3,326,041)
Ending balance, shares at Mar. 31, 2018	948,022	0	161,740,712
Ending balance, value at Mar. 31, 2018	$ 948	$ 0	$ 161,741	0	8,516,596	0	(6,854)	0	(8,247,029)	425,402
Beginning balance, shares at Sep. 30, 2017	948,022	0	124,591,272
Beginning balance, value at Sep. 30, 2017	$ 948	$ 0	$ 124,592	0	5,444,594	0	0	0	(5,629,019)	(58,885)
Issuance of common stock for services, shares			22,062,426
Issuance of common stock for services, value			$ 22,062		652,705				674,767
Issuance of common stock and warrants for cash, shares			967,000
Issuance of common stock and warrants for cash, value			$ 967		13,533					14,500
Net loss for period									(741,966)	(741,966)
Ending balance, shares at Dec. 31, 2017	948,022	0	147,620,698
Ending balance, value at Dec. 31, 2017	$ 948	$ 0	$ 147,621	0	6,110,832	0	0	0	(6,370,985)	(111,584)
Issuance of common stock for services, shares			3,581,213
Issuance of common stock for services, value			$ 3,581		1,573,090				1,576,671
Issuance of common stock and warrants for cash, shares			6,318,801
Issuance of common stock and warrants for cash, value			$ 6,319		541,494				547,813
Issuance of common stock in business combinations, shares			4,220,000
Issuance of common stock in business combinations, value			$ 4,220		291,180					295,400
Accumulated comprehensive income								(6,854)		(6,854)
Net loss for period									(1,876,044)	(1,561,141)
Ending balance, shares at Mar. 31, 2018	948,022	0	161,740,712
Ending balance, value at Mar. 31, 2018	$ 948	$ 0	$ 161,741	0	8,516,596	0	(6,854)	0	(8,247,029)	425,402
Beginning balance, shares at Jun. 30, 2018	948,022	660,752	184,708,613
Beginning balance, value at Jun. 30, 2018	$ 948	$ 663	$ 184,707	0	12,377,907	(8,684)	3,833	0	(9,540,976)	3,018,398
Issuance of common stock for services, shares		(492,242)	1,511,268
Issuance of common stock for services, value		$ (493)	$ 1,511		138,082					139,100
Issuance of common stock and warrants for cash, shares			4,702,424
Issuance of common stock and warrants for cash, value			$ 4,702		323,798					328,500
Issuance of common stock for cost method investment, shares			3,000,000
Issuance of common stock for cost method investment, value			$ 3,000		372,000					375,000
Issuance of common stock in business combinations, shares			2,000,000
Issuance of common stock in business combinations, value			$ 2,000		298,630					300,630
Issuance of common stock for subscription, shares		25,000,000
Issuance of common stock for subscription, value		$ 25,000		(2,750,000)	2,975,000					250,000
Accumulated comprehensive income							(1,154)			(1,154)
Net loss for period						(9,143)			(1,102,623)	(1,111,766)
Ending balance, shares at Sep. 30, 2018	948,022	25,168,510	195,922,305
Ending balance, value at Sep. 30, 2018	$ 948	$ 25,170	$ 195,920	(2,750,000)	16,485,417	(17,827)	2,679	0	(10,643,599)	3,298,708
Beginning balance, shares at Jun. 30, 2018	948,022	660,752	184,708,613
Beginning balance, value at Jun. 30, 2018	$ 948	$ 663	$ 184,707	0	12,377,907	(8,684)	3,833	0	(9,540,976)	3,018,398
Issuance of common stock for services, value										300,824
Issuance of common stock in business combinations, value										455,838
Net loss for period										(4,199,651)
Ending balance, shares at Mar. 31, 2019	948,022	976,382	222,203,713
Ending balance, value at Mar. 31, 2019	$ 948	$ 976	$ 222,201	0	16,880,262	24,319	28,410	0	(13,773,630)	3,383,486
Beginning balance, shares at Sep. 30, 2018	948,022	25,168,510	195,922,305
Beginning balance, value at Sep. 30, 2018	$ 948	$ 25,170	$ 195,920	(2,750,000)	16,485,417	(17,827)	2,679	0	(10,643,599)	3,298,708
Issuance of common stock for services, shares		(87,650)	475,622
Issuance of common stock for services, value		$ (89)	$ 475		161,338					161,724
Issuance of common stock and warrants for cash, shares		895,522	25,000,000
Issuance of common stock and warrants for cash, value		$ 895	$ 25,000		2,974,105					3,000,000
Issuance of common stock in business combinations, shares			496,667
Issuance of common stock in business combinations, value			$ 497		154,711					155,208
Issuance of common stock for subscription, shares		(25,000,000)
Issuance of common stock for subscription, value		$ (25,000)		2,750,000	(2,975,000)					(250,000)
Accumulated comprehensive income						38,692	9,957			48,649
Net loss for period									(1,750,558)	(1,750,558)
Ending balance, shares at Dec. 31, 2018	948,022	976,382	221,894,594
Ending balance, value at Dec. 31, 2018	$ 948	$ 976	$ 221,892	0	16,800,571	20,865	12,636	0	(12,394,157)	4,663,731
Issuance of common stock for services, shares			309,119
Issuance of common stock for services, value			$ 309		79,691					80,000
Accumulated comprehensive income							15,774			15,774
Net loss for period						3,454			(1,370,473)	(1,376,019)
Ending balance, shares at Mar. 31, 2019	948,022	976,382	222,203,713
Ending balance, value at Mar. 31, 2019	$ 948	$ 976	$ 222,201	$ 0	$ 16,880,262	$ 24,319	$ 28,410	$ 0	$ (13,773,630)	$ 3,383,486

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (4,232,654)	$ (3,332,917)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization	1,070,922	108,251
Gain on forgiveness of debt	(100,000)	0
Amortization of debts discounts	6,000	0
Beneficial conversion features	0	187,902
Gain on settlement of contingent liabilities	0	(150,000)
Loss on common stock issued for accounts payable	0	189,114
Issuance of common stock for services	380,823	571,858
Loss on conversion of debt	0	710,447
Loss on revaluation of derivatives liability	0	59,217
Bad debt expense	0	637,817
Loss on expiration of option	125,000	0
Changes in operating assets and liabilities:
Accounts receivable	(179,897)	(21,451)
Inventory	(247,579)	(55,285)
Prepaid expense	204,835	(119,138)
Deposit	(95,985)	0
Other assets	0	(40,600)
Accounts payable and accrued expenses	145,937	607,198
Accounts payable and accrued expenses to related parties	28,606	127,499
Net cash used in operating activities	(2,894,063)	(520,088)
Cash flows from (used in) investing activities
Cash received in acquisition of GME	0	3,546
Intangible asset acquired	0	(27,938)
Cash received in acquisition - Tierra	1,210	0
Cash paid in acquisition - Accuvape	(83,899)	0
Capitalized website development costs	(170,600)	0
Purchases of property and equipment	(3,449)	0
Net cash from (used in) investing activities	(256,738)	(24,392)
Cash flows from financing activities:
Proceeds from the sale of common stock	3,328,500	646,058
Repayments on notes payable	(284,826)	(97,382)
Proceeds from notes payable	360,000	166,842
Net cash provided by financing activities	3,403,673	715,518
Change in cash - Pre FX	252,872	0
Effects of exchange rates on cash	(38,594)	(7,992)
Net increase in cash	214,278	163,046
Cash at beginning of period	54,380	2,498
Cash at end of period	268,658	165,544
Supplemental disclosure of cash flow information:
Cash paid for interest	0	0
Cash paid for taxes	0	0
Non-cash investing and financing activities:
Issuance of common stock for accounts payable and accrued expenses	0	662,459
Issuance of common stock for inventory	0	27,200
Issuance of notes payable for financing fees	0	0
Financed purchases of property and equipment	0	148,500
Initial debt discounts	6,000	116,625
Common stock issued for cost method investment	375,000	0
Common stock issued in business combination - GME	0	396,728
Common stock issued in business combination - Tierra	300,630	0
Common stock issued in business combination - Accuvape	155,208	0
Exercise of warrants for the issuance of common stock	0	215
Notes assigned between holders	0	118,602
Common stock issued for settlement of debt	0	1,346,520
Common stock issued for rights agreement	$ 0	$ 22,000

1. Nature of Operations and Sum

1. Nature of Operations and Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization The Company was incorporated in the State of Nevada on February 21, 2013, under the name of Arkadia International, Inc. The Company originally was engaged in the business of the acquisition of in demand equipment, cars, and goods with the intent to resell these in the U.S. territories or export to overseas countries. On October 3, 2014, the Company experienced a change in control. Richard C. Cowan acquired approximately 93% of the issued and outstanding common stock of the Company at the time. On November 6, 2014, the Company merged with Freedom Leaf Inc., a private Nevada corporation, and the Company changed its name to Freedom Leaf Inc. In connection with the merger, the sole officer, director and stockholder of the private company, Clifford J. Perry, became an officer and director of the Company, and Mr. Perry received approximately 48.1% of the Company’s common stock post-merger. For financial reporting purposes, this merger was accounted for as a "reverse acquisition" rather than a business combination, and the private company was deemed to be the accounting acquirer in the transaction, with the Company deemed to be the acquired company for financial reporting purposes. Consequently, the assets and liabilities and the operations that were reflected in the historical financial statements of the Company prior to the merger are those of the private company, and they were recorded at the historical cost basis of the private company, and the financial statements after completion of the merger include the combined assets and liabilities of the Company and the private company, the historical operations of the private company only, and the operations of both companies from the closing date of the merger. Freedom Leaf Inc. is a reporting public company traded under the symbol (OTCQB: FRLF) with corporate headquarters located at 3571 E. Sunset Road, Las Vegas, Nevada, 89120. Freedom Leaf Inc. ( OTCQB: FRLF your health first FRLF is a diverse enterprise of branded business lines dedicated to meeting the needs of people who face health challenges and those who are healthy. Freedom Leaf’s “ Leafceuticals IrieCBD” Hempology” NatureBorn” For over 30 years, the founders of FRLF fought for citizen rights to access plant-based care, and pioneered premium hemp health products as a first step to clean health. Today, FRLF produces premium hemp products from seed to shelf using proprietary science-backed formulations and rigorous product testing FRLF is a socially conscious, vertically-integrated company maintaining all of the highest standards in quality and safety, with a focus on continual innovation to deliver ever-better plant-based care products. Subsidiary Entities: ☐ Cannabis Business Solutions Inc. (“Cannabis Business Solutions”), a Nevada corporation, was formed on February 5, 2014, and is a wholly-owned subsidiary of the Company. This subsidiary had no activity until the agreement with Valencia Web Technology S.L., B-97183354. ☐ Leafceuticals Inc. (“Leafceuticals”), formerly known as Cannabiz U, Inc., a Nevada corporation, was formed on February 13, 2014, and is a wholly-owned subsidiary of the Company. It operates the Company’s Hempology and IRIE brands. ☐ Freedom Leaf International Inc. (“Freedom Leaf International”), a Nevada corporation, was formed on November 27, 2015, and is a wholly-owned subsidiary of the Company. This subsidiary has had no activity to date. ☐ Leafceuticals Europe, SL, formed on June 28, 2018, is a wholly-owned subsidiary of the Company. It owns our Valencia greenhouse operations. ☐ Freedom Leaf Cares Inc. (“Freedom Leaf Cares”), a Nevada corporation, was formed on October 1, 2014, and is a wholly-owned subsidiary of the Company. Freedom Leaf Cares was dissolved in 2016. Until dissolution, this subsidiary had no activity. ☐ Tierra Science Global, LLC. (“Tierra”), a Nevada corporation, was formed on August 23, 2017, and, as of its acquisition by Freedom Leaf on July 26, 2018 with an effective date of August 1, 2018, is a wholly-owned subsidiary of the Company. ☐ FL – Accuvape, LLC (“Accuvape”) a Nevada corporation, was formed on November 26, 2017, is a wholly-owned subsidiary the Company and operates the Accuvape business acquired by the Company effective November 16, 2018. Nature of Operations Freedom Leaf Inc. ( OTCQB: FRLF your health first FRLF is a diverse enterprise of branded business lines dedicated to meeting the needs of people who face health challenges and those who are healthy. Freedom Leaf’s “ Leafceuticals IrieCBD” Hempology” NatureBorn” For over 30 years, the founders of FRLF fought for citizen rights to access plant-based care, and pioneered premium hemp health products as a first step to clean health. Today, FRLF produces premium hemp products from seed to shelf using proprietary science-backed formulations and rigorous product testing FRLF is a socially conscious, vertically-integrated company maintaining all of the highest standards in quality and safety, with a focus on continual innovation to deliver ever-better plant-based care products. The Company’s major business lines are: ☐ Legal Industrial Hemp Cultivation ☐ Cannabidiol Extraction, Distillation, and Processing ☐ Expert Product Formulation ☐ Nutraceutical Brand Marketing ☐ Ancillary Products & Niche Markets ☐ Affiliate Marketing Programs ☐ E-Commerce Solutions ☐ Global Media & Advertising Networks Basis of Presentation The Company prepares its consolidated financial statements in conformity with generally accepted accounting principles in the United States of America. The unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements. These unaudited condensed consolidated financial statements have been prepared in accordance with GAAP pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Additionally, the results of operations for the nine months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended June 30, 2018 included in the Company’s 2018 Annual Report on Form 10-K, filed with the SEC on October 15, 2018. Principles of Consolidation The Company consolidates any variable interest entities of which it is the primary beneficiary. Equity investments through which the Company exercises significant influence over but does not control the investee and is not the primary beneficiary of the investee’s activities are accounted for using the equity method. Investments through which the Company is not able to exercise significant influence over the investee and which do not have readily determinable fair values are accounted for under the cost method. All material inter-company accounts have been eliminated in the consolidation. Use of Estimates The preparation of consolidated 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 consolidated 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 consolidated 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. 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. Revenue Recognition The Company recognizes revenue for our services in accordance with ASC 606, "Revenue from Contracts with Customers." 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 five primary revenue streams as follows: · Advertising Services – Revenue from advertising is recognized over the contracted period in which advertising services are performed. Advertising services are considered performed when an ad is displayed to users. · Product Sales – Revenue from the sale of the Company’s branded products is recognized in the period in which product is shipped. Sales billed or cash received in advance of actual shipment are deferred and recorded as income in the period in which shipment is made. Shipping and handling fees billed to customers is included in net sales. Shipping and handling costs are expensed as incurred and included in cost of sales. All sales are presented net of sales taxes, which are excluded from revenue. · Licensing Revenue – Revenue from licensing arrangements is recognized when earned, estimable and realizable. The timing of revenue recognition is dependent on the terms of each license agreement and on the timing of sales of licensed products. The Company generally recognizes royalty revenue when it is reported to the Company by its licensees, which is generally one quarter in arrears from the licensees’ sales of licensed products. For licensing fees that are not determined by the licensees’ sales, the Company generally recognizes license fee revenue on a straight-line basis over the life of the license. Net Income (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 that may dilute future earnings per share consist of Series A convertible preferred stock and warrants to purchase common stock. As of March 31, 2019, there were 49,444,444 such potential common stock equivalents from warrants that were excluded from the diluted EPS calculation. Equivalent shares are not utilized when the effect is anti-dilutive. Going Concern The Company has a net loss attributable to common stockholders for the nine months ended March 31, 2019 of $4,203,105 and has used cash in operations of $2,894,063 for the nine months ended March 31, 2019. In addition, as of March 31, 2019, the Company had an accumulated deficit of $13,773,630. The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The ability of the Company to continue its operations is dependent on the execution of management’s plans, which include the raising of capital through the debt and/or equity markets, as well as through acquisitions, until such time that funds provided by operations are sufficient to fund working capital requirements.

2. Inventory

2. Inventory	9 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventory	NOTE 2 – INVENTORY Inventories at March 31, 2019 and June 30, 2018 consisted of the following: March 31, June 30, 2019 2018 Raw materials $ – $ – Work-in-process 110,802 126,047 Finished goods 483,170 111,681 Inventory reserve (36,039 ) (36,039 ) Inventory, net $ 557,933 $ 201,689

3. Property And Equipment

3. Property And Equipment	9 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property And Equipment	NOTE 3 – PROPERTY AND EQUIPMENT Property and equipment at March 31, 2019 and June 30, 2018 consisted of the following: March 31, 2019 June 30, 2018 Machinery and equipment $ 1,949,594 $ 2,022,980 Furniture and fixtures 25,000 25,000 Land 464,976 630,805 Buildings 2,223,069 2,170,963 Total property and equipment 4,662,639 4,849,478 Less: Accumulated depreciation (472,888 ) (63,698 ) Property and equipment, net $ 4,189,751 $ 4,786,050 Depreciation expense for the nine months ended March 31, 2019 and 2018, was $418,644 and $24,569, respectively.

4. Intangible Assets

4. Intangible Assets	9 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 4 – INTANGIBLE ASSETS Intangible assets at March 31, 2019 and June 30, 2018 consisted of the following: March 31, 2019 June 30, 2018 Websites and other intangible assets $ 914,273 $ 519,923 Trademarks and trade names 389,000 342,682 Customer relationships 921,000 712,000 Patents and intellectual property 366,842 264,160 Total intangible assets 2,591,115 1,838,765 Less: Accumulated amortization (966,597 ) (316,191 ) Intangible assets, net $ 1,624,518 $ 1,522,574 Amortization expense for the nine months ended March 31, 2019 and 2018 was $650,406 and $83,722 respectively. The following table presents the amortization for the next five years: 2019 remaining 199,644 2020 622,209 2021 249,685 2022 225,252 2023 204,336 2024 and thereafter 123,392 Total $ 1,624,518

5. Investments

5. Investments	9 Months Ended
	Mar. 31, 2019
Investments, All Other Investments [Abstract]
Investments	NOTE 5 – INVESTMENTS On July 26, 2018, the Company issued 3,000,000 Shares of the common stock to Messers. Michael Woloshin and Joseph Abrams (existing stockholders and owners of the Company’s 25%-owned Cicero Transact Group, LLC)

6. Business Combinations

6. Business Combinations	9 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Business Combinations	NOTE 6 – BUSINESS COMBINATIONS Tierra Science Global, LLC On July 26, 2018, the Company acquired 100% of the membership interests of Tierra Science Global, LLC (“Tierra”), a nutraceutical business, for which it: (i) issued to that Company’s owners 2,000,000 shares of the Company’s common stock, valued at $246,000 based on the closing price of the common stock on that day and (ii) entered into employment agreements with the Company’s principal executives. Pursuant to those employment agreements, each of the Tierra’s two sellers was contacted to receive: (i) the greater of $2,000 per month or 2.5% of the prior month’s gross margin from sales and (ii) $25,000 of Company common stock for each $500,000 in cumulative net profits. The Company intends to expand Tierra’s product offering to include various cannabidiol products branded as “powered by Freedom Leaf. Purchase Consideration: The provisional fair value of the purchase consideration issued to the sellers of Tierra was allocated to the net tangible assets acquired. We accounted for the acquisition of Tierra as the purchase of a business under GAAP under the acquisition method of accounting, the assets and liabilities acquired were recorded as of the acquisition date, at their respective fair values and consolidated with those of our company. The fair value of the net assets acquired, net of liabilities assumed, and was approximately $300,630. The excess of the aggregate fair value of the net tangible and intangible assets has been treated as goodwill. The purchase price allocation was based, in part, on management’s knowledge of Tierra’s business and is preliminary. Once the Company completes its analysis to finalize the purchase price allocation, which includes finalizing the valuation report from a third-party appraiser and a review of potential intangible assets, it is reasonably possible that there could be significant changes to the preliminary values below. Provisional consideration given: Cash Consideration Common stock shares given 300,630 Notes payable assumed 129,800 Total consideration given $ 430,430 Assets acquired and liabilities assumed at preliminary fair value: Current assets $ 1,210 Current liabilities 33,780 Net Working Capital (32,570 ) Property and equipment 15,000 Trade names and trademarks 55,000 Non-Compete Agreements 120,000 Customer contracts and relationships 209,000 Assembled Workforce 64,000 Total Consideration $ 430,430 The following presents the pro forma combined results of operations of the Company with Tierra as if the entities were combined on July 1, 2017. For the March 31, 2019 Revenues, net $ 2,228,896 Net loss allocable to common stockholders $ (4,248,591 ) Net loss per common share $ (0.02 ) Weighted-average number of share outstanding 213,163,928 Revenue recognized by Tierra from acquisition through March 31, 2019 was $718,276. The pro-forma results of operations are presented for information purposes only. The pro forma results of operations are not intended to present actual results that would have been attained had the acquisitions been completed as of July 1, 2018 or to project potential operating results as of any future date or for any future periods. AccuVape, Inc. On November 15, 2018, the Company consummated the acquisition of the assets of AccuVape, Inc. (www.accuvape.net), which produce and sell various vape-related products. AccuVape was founded in 2013 as a vaporizer company to fill the growing needs of the emerging vape market. Today, AccuVape: distributes to all 50 states, Canada, the UK and EU and has Midwest and West Coast distribution centers and over 550 authorized retailers that carry AccuVape products. In consideration of the transaction the Company issued to that Company’s owners: (i) $126,000 in cash plus (ii) 496,667 shares of the Company’s common stock, valued at $155,208 based on the closing price of the common stock on that day. Additionally, the Company entered into a two-year employment agreement with the Company’s principal executive, pursuant to which she is contacted to receive: (i) $2,000 per month in cash plus (ii) annual incentive compensation equal to 22% of any “Gross Margin” increase over the prior 12 months, all of which incentive compensation shall be paid in Company common stock. Apart from the purchase price, the company agrees to reimburse the seller the sum of $27,500 in full satisfaction of itemized expenses. Purchase Consideration: The provisional fair value of the purchase consideration issued to the sellers of AccuVape was allocated to the net tangible assets acquired. We accounted for the acquisition of AccuVape as the purchase of a business under GAAP under the acquisition method of accounting, the assets and liabilities acquired were recorded as of the acquisition date, at their respective fair values and consolidated with those of our company. The fair value of the net assets acquired, net of liabilities assumed, and was approximately $18,642. The excess of the aggregate fair value of the net tangible and intangible assets has been treated as goodwill. The purchase price allocation was based, in part, on management’s knowledge of AccuVape business and is preliminary. Once the Company completes its analysis to finalize the purchase price allocation, which includes finalizing the valuation report from a third-party appraiser and a review of potential intangible assets, it is reasonably possible that there could be significant changes to the preliminary values below. Provisional consideration given: Cash consideration $ 126,000 Fair value of common stock 155,208 Liabilities assumed 27,500 Total consideration given $ 308,708 Assets acquired and liabilities assumed at provisional fair value: Current assets $ 69,837 Property and equipment 1,871 Patents 87,000 Trade Name 7,000 Non-Complete Agreement 19,000 Assembled Workforce 5,000 Goodwill 119,000 Total Consideration $ 308,708 The following presents the pro forma combined results of operations of the Company with AccuVape as if the entities were combined on July 1, 2018. For the March 31, 2019 Revenues, net $ 2,232,518 Net loss allocable to common stockholders (4,232,634 ) Net loss per common share $ (0.02 ) Weighted-average number of share outstanding 213,163,928 Revenue recognized by AccuVape from acquisition through March 31, 2019 was $42,670. The pro-forma results of operations are presented for information purposes only. The pro forma results of operations are not intended to present actual results that would have been attained had the acquisitions been completed as of July 1, 2018 or to project potential operating results as of any future date or for any future periods.

7. Commitments and Contingencie

7. Commitments and Contingencies	9 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7 – COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. As of March 31, 2019, there were no pending or threatened lawsuits.

8. Related Parties

8. Related Parties	9 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Parties	NOTE 8 – RELATED PARTIES Cowan, a former director and officer of the Company, has payables and accruals due to him of $0 and $15,485 as of March 31, 2019 and June 30, 2018, respectively, which amounts were recorded in Payable to related party. The payable, as agreed upon verbally, has a maturity date greater than one year, without any other set terms for repayment. Imputed interest is immaterial. Clifford J. Perry (“Perry”), Chief Executive officer and a director of the Company, has accruals due to him of $79,859 (all of which was recorded as Accounts payable and accrued expenses) and $32,813 as of March 31, 2019 and June 30, 2018, respectively. Imputed interest is immaterial. Raymond P. Medeiros (“Medeiros”), a director of the Company, has payables and accruals due to him of $27,176 (all of which was recorded as Accounts payable and accrued expenses) and $63,000 as of March 31, 2018 and June 30, 2018, respectively. Imputed interest is immaterial.

9. Notes Payable

9. Notes Payable	9 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Notes Payable	NOTE 9 – NOTES PAYABLE On March 15, 2019, the Company executed a promissory note for $300,000 with Paul Pelosi, Jr. a former Director of the Company. The note pays interest of 10% of the note amount, or $30,000, which amount is payable at the maturing date of the Note – 100 days after availability of funds. March 31, June 30, Notes payable as of March 31, 2019 and June 30, 2018 consist of the following: 2019 2018 Note payable bearing interest at 0.0%, originated March 3, 2017, due on March 3, 2020 $ 94,500 $ 99,000 Note payable bearing interest at 5.0%, originated May 17, 2018, due on December 31, 2022 4,342,630 4,629,486 Note payable bearing interest at 0.0%, originated June 5, 2018, due on September 5, 2018 – 95,000 Note payable bearing interest at 8.0%, originated July 3, 2018, due on January 3, 2019, net of original issuance discounts of $3,098 and $-0- respectively – – Note payable, assumed in acquisition of Tierra Sciences, bearing interested at 0.0% originated on October 23, 2017, due on demand – – Note payable being interest at 10% originated March 15, 2019, due on 300,000 – Note payable, assumed in acquisition of Tierra Sciences, bearing interested at 0.0% originated on February 21, 2018, due on demand – – Note payable, assumed in acquisition of Tierra Sciences, bearing interested at 0.0% originated on July 26, 2018, due on demand 1,300 – Total notes payable $ 4,748,430 $ 4,823,486 Less: current portion (843,803 ) (381,575 ) Long-term notes payable $ 3,904,627 $ 4,441,911

10. Stockholders' Equity

10. Stockholders' Equity	9 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Stockholders' Equity	NOTE 10 – STOCKHOLDERS’ EQUITY 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 designate 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. As of March 31, 2019 there were a total of 948,022 shares of Series A issued and outstanding of which, , 684,012 shares of Series A preferred stock were held by Mr. Perry and 264,010 shares of Series A preferred stock were held by Mr. Cowan. Common Stock The Company is authorized to issue up to 500,000,000 shares of common stock par value $0.001 per share. 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. As of March 31, 2019, 223,180,095 were outstanding. During the quarter ended March 31, 2019, the Company issued 309,119 shares of common stock. Shares Fair Value Average Price Per Share Common stock issued for: Business combinations 2,496,667 $ 455,838 $ 0.18 Cost method investments 3,000,000 $ 375,000 $ 0.13 Cash and warrants 30,597,946 $ 3,328,500 $ 0.11 Services 1,716,117 $ 380,752 $ 0.22 Total 37,810,730 $ 4,540,090 Warrants As of March 31, 2019, warrants to acquire 49,444,444 shares of common stock were outstanding. No additional Warrants were issued during the quarter: A summary of the status of the options and warrants granted as at March 31, 2019 and June 30, 2018, and changes during the years then ended is presented below: Weighted- Average Exercise Number of Price per Warrants Share Outstanding at June 30, 2018 8,794,444 $ 0.12 Granted 42,000,000 0.21 Exercised (1,350,000) 0.06 Outstanding at March 31, 2019 49,444,444 $ 0.20 Exercisable at March 31, 2019 49,444,444 $ 0.20 A summary of the status of the warrants outstanding at March 31, 2019 is presented below: Range of Exercise Number Weighted-Average Number Weighted-Average $0.01 - $0.09 1,000,000 2.80 years 1,000,000 $ 0.05 $0.10 - $0.19 30,444,444 2.23 years 30,444,444 $ 0.17 $0.20 - $0.29 18,000,000 2.46 years 18,000,000 $ 0.25 49,444,444 2.33 years 49,444,444 $ 0.20 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. There are no stock options outstanding as of March 31, 2019.

11. Subsequent Events

11. Subsequent Events	9 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	NOTE 11 – 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.

1. Nature of Operations and S_2

1. Nature of Operations and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization The Company was incorporated in the State of Nevada on February 21, 2013, under the name of Arkadia International, Inc. The Company originally was engaged in the business of the acquisition of in demand equipment, cars, and goods with the intent to resell these in the U.S. territories or export to overseas countries. On October 3, 2014, the Company experienced a change in control. Richard C. Cowan acquired approximately 93% of the issued and outstanding common stock of the Company at the time. On November 6, 2014, the Company merged with Freedom Leaf Inc., a private Nevada corporation, and the Company changed its name to Freedom Leaf Inc. In connection with the merger, the sole officer, director and stockholder of the private company, Clifford J. Perry, became an officer and director of the Company, and Mr. Perry received approximately 48.1% of the Company’s common stock post-merger. For financial reporting purposes, this merger was accounted for as a "reverse acquisition" rather than a business combination, and the private company was deemed to be the accounting acquirer in the transaction, with the Company deemed to be the acquired company for financial reporting purposes. Consequently, the assets and liabilities and the operations that were reflected in the historical financial statements of the Company prior to the merger are those of the private company, and they were recorded at the historical cost basis of the private company, and the financial statements after completion of the merger include the combined assets and liabilities of the Company and the private company, the historical operations of the private company only, and the operations of both companies from the closing date of the merger. Freedom Leaf Inc. is a reporting public company traded under the symbol (OTCQB: FRLF) with corporate headquarters located at 3571 E. Sunset Road, Las Vegas, Nevada, 89120. Freedom Leaf Inc. ( OTCQB: FRLF your health first FRLF is a diverse enterprise of branded business lines dedicated to meeting the needs of people who face health challenges and those who are healthy. Freedom Leaf’s “ Leafceuticals IrieCBD” Hempology” NatureBorn” For over 30 years, the founders of FRLF fought for citizen rights to access plant-based care, and pioneered premium hemp health products as a first step to clean health. Today, FRLF produces premium hemp products from seed to shelf using proprietary science-backed formulations and rigorous product testing FRLF is a socially conscious, vertically-integrated company maintaining all of the highest standards in quality and safety, with a focus on continual innovation to deliver ever-better plant-based care products. Subsidiary Entities: ☐ Cannabis Business Solutions Inc. (“Cannabis Business Solutions”), a Nevada corporation, was formed on February 5, 2014, and is a wholly-owned subsidiary of the Company. This subsidiary had no activity until the agreement with Valencia Web Technology S.L., B-97183354. ☐ Leafceuticals Inc. (“Leafceuticals”), formerly known as Cannabiz U, Inc., a Nevada corporation, was formed on February 13, 2014, and is a wholly-owned subsidiary of the Company. It operates the Company’s Hempology and IRIE brands. ☐ Freedom Leaf International Inc. (“Freedom Leaf International”), a Nevada corporation, was formed on November 27, 2015, and is a wholly-owned subsidiary of the Company. This subsidiary has had no activity to date. ☐ Leafceuticals Europe, SL, formed on June 28, 2018, is a wholly-owned subsidiary of the Company. It owns our Valencia greenhouse operations. ☐ Freedom Leaf Cares Inc. (“Freedom Leaf Cares”), a Nevada corporation, was formed on October 1, 2014, and is a wholly-owned subsidiary of the Company. Freedom Leaf Cares was dissolved in 2016. Until dissolution, this subsidiary had no activity. ☐ Tierra Science Global, LLC. (“Tierra”), a Nevada corporation, was formed on August 23, 2017, and, as of its acquisition by Freedom Leaf on July 26, 2018 with an effective date of August 1, 2018, is a wholly-owned subsidiary of the Company. ☐ FL – Accuvape, LLC (“Accuvape”) a Nevada corporation, was formed on November 26, 2017, is a wholly-owned subsidiary the Company and operates the Accuvape business acquired by the Company effective November 16, 2018.
Nature of Operations	Nature of Operations Freedom Leaf Inc. ( OTCQB: FRLF your health first FRLF is a diverse enterprise of branded business lines dedicated to meeting the needs of people who face health challenges and those who are healthy. Freedom Leaf’s “ Leafceuticals IrieCBD” Hempology” NatureBorn” For over 30 years, the founders of FRLF fought for citizen rights to access plant-based care, and pioneered premium hemp health products as a first step to clean health. Today, FRLF produces premium hemp products from seed to shelf using proprietary science-backed formulations and rigorous product testing FRLF is a socially conscious, vertically-integrated company maintaining all of the highest standards in quality and safety, with a focus on continual innovation to deliver ever-better plant-based care products. The Company’s major business lines are: ☐ Legal Industrial Hemp Cultivation ☐ Cannabidiol Extraction, Distillation, and Processing ☐ Expert Product Formulation ☐ Nutraceutical Brand Marketing ☐ Ancillary Products & Niche Markets ☐ Affiliate Marketing Programs ☐ E-Commerce Solutions ☐ Global Media & Advertising Networks
Basis of Presentation	Basis of Presentation The Company prepares its consolidated financial statements in conformity with generally accepted accounting principles in the United States of America. The unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements. These unaudited condensed consolidated financial statements have been prepared in accordance with GAAP pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Additionally, the results of operations for the nine months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the entire year. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended June 30, 2018 included in the Company’s 2018 Annual Report on Form 10-K, filed with the SEC on October 15, 2018.
Principles of Consolidation	Principles of Consolidation The Company consolidates any variable interest entities of which it is the primary beneficiary. Equity investments through which the Company exercises significant influence over but does not control the investee and is not the primary beneficiary of the investee’s activities are accounted for using the equity method. Investments through which the Company is not able to exercise significant influence over the investee and which do not have readily determinable fair values are accounted for under the cost method. All material inter-company accounts have been eliminated in the consolidation.
Use of Estimates	Use of Estimates The preparation of consolidated 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 consolidated 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 consolidated 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.
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.
Revenue Recognition	Revenue Recognition The Company recognizes revenue for our services in accordance with ASC 606, "Revenue from Contracts with Customers." 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 five primary revenue streams as follows: · Advertising Services – Revenue from advertising is recognized over the contracted period in which advertising services are performed. Advertising services are considered performed when an ad is displayed to users. · Product Sales – Revenue from the sale of the Company’s branded products is recognized in the period in which product is shipped. Sales billed or cash received in advance of actual shipment are deferred and recorded as income in the period in which shipment is made. Shipping and handling fees billed to customers is included in net sales. Shipping and handling costs are expensed as incurred and included in cost of sales. All sales are presented net of sales taxes, which are excluded from revenue. · Licensing Revenue – Revenue from licensing arrangements is recognized when earned, estimable and realizable. The timing of revenue recognition is dependent on the terms of each license agreement and on the timing of sales of licensed products. The Company generally recognizes royalty revenue when it is reported to the Company by its licensees, which is generally one quarter in arrears from the licensees’ sales of licensed products. For licensing fees that are not determined by the licensees’ sales, the Company generally recognizes license fee revenue on a straight-line basis over the life of the license.
Net Income (Loss) Per Share	Net Income (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 that may dilute future earnings per share consist of Series A convertible preferred stock and warrants to purchase common stock. As of March 31, 2019, there were 49,444,444 such potential common stock equivalents from warrants that were excluded from the diluted EPS calculation. Equivalent shares are not utilized when the effect is anti-dilutive.
Going Concern	Going Concern The Company has a net loss attributable to common stockholders for the nine months ended March 31, 2019 of $4,203,105 and has used cash in operations of $2,894,063 for the nine months ended March 31, 2019. In addition, as of March 31, 2019, the Company had an accumulated deficit of $13,773,630. The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The ability of the Company to continue its operations is dependent on the execution of management’s plans, which include the raising of capital through the debt and/or equity markets, as well as through acquisitions, until such time that funds provided by operations are sufficient to fund working capital requirements.

2. Inventory (Tables)

2. Inventory (Tables)	9 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	March 31, June 30, 2019 2018 Raw materials $ – $ – Work-in-process 110,802 126,047 Finished goods 483,170 111,681 Inventory reserve (36,039 ) (36,039 ) Inventory, net $ 557,933 $ 201,689

3. Property And Equipment (Tabl

3. Property And Equipment (Tables)	9 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property And Equipment	March 31, 2019 June 30, 2018 Machinery and equipment $ 1,949,594 $ 2,022,980 Furniture and fixtures 25,000 25,000 Land 464,976 630,805 Buildings 2,223,069 2,170,963 Total property and equipment 4,662,639 4,849,478 Less: Accumulated depreciation (472,888 ) (63,698 ) Property and equipment, net $ 4,189,751 $ 4,786,050

4. Intangible Assets (Tables)

4. Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	March 31, 2019 June 30, 2018 Websites and other intangible assets $ 914,273 $ 519,923 Trademarks and trade names 389,000 342,682 Customer relationships 921,000 712,000 Patents and intellectual property 366,842 264,160 Total intangible assets 2,591,115 1,838,765 Less: Accumulated amortization (966,597 ) (316,191 ) Intangible assets, net $ 1,624,518 $ 1,522,574
Amortization table	2019 remaining 199,644 2020 622,209 2021 249,685 2022 225,252 2023 204,336 2024 and thereafter 123,392 Total $ 1,624,518

6. Business Combination (Tables

6. Business Combination (Tables)	9 Months Ended
	Mar. 31, 2019
Tierra Science Global [Member]
Allocation of assets acquired and liabilities assumed in business combination	Current assets $ 1,210 Current liabilities 33,780 Net Working Capital (32,570 ) Property and equipment 15,000 Trade names and trademarks 55,000 Non-Compete Agreements 120,000 Customer contracts and relationships 209,000 Assembled Workforce 64,000 Total Consideration $ 430,430
Proforma information	For the March 31, 2019 Revenues, net $ 2,228,896 Net loss allocable to common stockholders $ (4,248,591 ) Net loss per common share $ (0.02 ) Weighted-average number of share outstanding 213,163,928
Provisional consideration	Cash Consideration Common stock shares given 300,630 Notes payable assumed 129,800 Total consideration given $ 430,430
AccuVape [Member]
Allocation of assets acquired and liabilities assumed in business combination	Current assets $ 69,837 Property and equipment 1,871 Patents 87,000 Trade Name 7,000 Non-Complete Agreement 19,000 Assembled Workforce 5,000 Goodwill 119,000 Total Consideration $ 308,708
Proforma information	For the March 31, 2019 Revenues, net $ 2,232,518 Net loss allocable to common stockholders (4,232,634 ) Net loss per common share $ (0.02 ) Weighted-average number of share outstanding 213,163,928
Provisional consideration	Cash consideration $ 126,000 Fair value of common stock 155,208 Liabilities assumed 27,500 Total consideration given $ 308,708

9. Notes Payable (Tables)

9. Notes Payable (Tables)	9 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of notes payable	March 31, June 30, Notes payable as of March 31, 2019 and June 30, 2018 consist of the following: 2019 2018 Note payable bearing interest at 0.0%, originated March 3, 2017, due on March 3, 2020 $ 94,500 $ 99,000 Note payable bearing interest at 5.0%, originated May 17, 2018, due on December 31, 2022 4,342,630 4,629,486 Note payable bearing interest at 0.0%, originated June 5, 2018, due on September 5, 2018 – 95,000 Note payable bearing interest at 8.0%, originated July 3, 2018, due on January 3, 2019, net of original issuance discounts of $3,098 and $-0- respectively – – Note payable, assumed in acquisition of Tierra Sciences, bearing interested at 0.0% originated on October 23, 2017, due on demand – – Note payable being interest at 10% originated March 15, 2019, due on 300,000 – Note payable, assumed in acquisition of Tierra Sciences, bearing interested at 0.0% originated on February 21, 2018, due on demand – – Note payable, assumed in acquisition of Tierra Sciences, bearing interested at 0.0% originated on July 26, 2018, due on demand 1,300 – Total notes payable $ 4,748,430 $ 4,823,486 Less: current portion (843,803 ) (381,575 ) Long-term notes payable $ 3,904,627 $ 4,441,911

10. Stockholders' Equity (Table

10. Stockholders' Equity (Tables)	9 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of stock issued	Shares Fair Value Average Price Per Share Common stock issued for: Business combinations 2,496,667 $ 455,838 $ 0.18 Cost method investments 3,000,000 $ 375,000 $ 0.13 Cash and warrants 30,597,946 $ 3,328,500 $ 0.11 Services 1,716,117 $ 380,752 $ 0.22 Total 37,810,730 $ 4,540,090
Schedule of warrant activity	Weighted- Average Exercise Number of Price per Warrants Share Outstanding at June 30, 2018 8,794,444 $ 0.12 Granted 42,000,000 0.21 Exercised (1,350,000) 0.06 Outstanding at March 31, 2019 49,444,444 $ 0.20 Exercisable at March 31, 2019 49,444,444 $ 0.20
Summary of warrants outstanding and exercisable	Range of Exercise Number Weighted-Average Number Weighted-Average $0.01 - $0.09 1,000,000 2.80 years 1,000,000 $ 0.05 $0.10 - $0.19 30,444,444 2.23 years 30,444,444 $ 0.17 $0.20 - $0.29 18,000,000 2.46 years 18,000,000 $ 0.25 49,444,444 2.33 years 49,444,444 $ 0.20

1. Nature of Operations (Detail

1. Nature of Operations (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Antidilutive shares							49,444,444
Net loss	$ (1,376,019)	$ (1,750,558)	$ (1,111,766)	$ (1,561,141)	$ (741,966)	$ (708,031)	$ (4,199,651)	$ (3,326,041)
Net cash used in operations							(2,894,063)	$ (520,088)
Accumulated deficit	$ (13,773,630)						$ (13,773,630)		$ (9,540,976)

2. Inventory (Details)

2. Inventory (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 0	$ 0
Work in process	110,802	126,047
Finished goods	483,170	111,681
Inventory reserve	(36,039)	(36,039)
Inventory,net	$ 557,933	$ 201,689

3. Property And Equipment (Deta

3. Property And Equipment (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Property and equipment	$ 4,662,639	$ 4,849,478
Accumulated depreciation	(472,888)	(63,698)
Total fixed assets, net	4,189,751	4,786,050
Machinery and Equipment [Member]
Property and equipment	194,959	2,022,980
Furniture and fixtures [Member]
Property and equipment	25,000	25,000
Land [Member]
Property and equipment	464,976	630,805
Buildings [Member]
Property and equipment	$ 2,223,069	$ 2,170,963

3. Property And Equipment (De_2

3. Property And Equipment (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 418,644	$ 24,569

4. Intangible Assets (Details -

4. Intangible Assets (Details - Intangible assets) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Intangible assets, gross	$ 2,591,115	$ 1,838,765
Less: Accumulated amortization	(966,597)	(316,191)
Intangible assets, net	1,624,518	1,522,574
Websites and other intangible assets [Member]
Intangible assets, gross	914,273	519,923
Trademarks and Trade Names [Member]
Intangible assets, gross	389,000	519,923
Customer Relationships [Member]
Intangible assets, gross	921,000	712,000
Patents and intellectual property [Member]
Intangible assets, gross	$ 366,842	$ 264,160

4. Intangible Assets (Details_2

4. Intangible Assets (Details - Amortization)	Mar. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2019	$ 199,644
2020	622,209
2021	249,685
2022	225,252
2023	204,336
2024 and thereafter	123,392
Total	$ 1,624,518

4. Intangible Assets (Details N

4. Intangible Assets (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 650,406	$ 83,722

5. Investments (Details Narrati

5. Investments (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended			9 Months Ended
	Jul. 26, 2018	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Mar. 31, 2019	Jun. 30, 2018
Stock issued for acquisition, value		$ 155,208	$ 300,630	$ 295,400	$ 455,838
Investments					$ 1,370,400	$ 995,400
Cicero Transact Group [Member]
Stock issued for acquisition, shares	3,000,000
Stock issued for acquisition, value	$ 375,000
Investment, Ownership Percentage	25.00%

6. Business Combination (Detail

6. Business Combination (Details - Consideration) - USD ($)	1 Months Ended	5 Months Ended
	Jul. 26, 2018	Nov. 15, 2018	Mar. 31, 2019	Jun. 30, 2018
Fair value of identifiable assets acquired, and liabilities assumed:
Goodwill			$ 189,000	$ 70,000
Tierra Science Global [Member]
Consideration given:
Common stock shares given	$ 300,630
Notes payable/liabilities assumed	129,800
Total consideration given	430,430
Fair value of identifiable assets acquired, and liabilities assumed:
Current assets	1,210
Current liabilities	33,780
Net Working Capital	(32,570)
Property and equipment	15,000
Total consideration	430,430
Tierra Science Global [Member] | Trademarks and Trade Names [Member]
Fair value of identifiable assets acquired, and liabilities assumed:
Intangible assets	55,000
Tierra Science Global [Member] | Noncompete Agreements [Member]
Fair value of identifiable assets acquired, and liabilities assumed:
Intangible assets	120,000
Tierra Science Global [Member] | Customer Relationships [Member]
Fair value of identifiable assets acquired, and liabilities assumed:
Intangible assets	209,000
Tierra Science Global [Member] | Assembled Workforce [Member]
Fair value of identifiable assets acquired, and liabilities assumed:
Intangible assets	$ 64,000
AccuVape [Member]
Consideration given:
Cash consideration		$ 126,000
Common stock shares given		155,208
Notes payable/liabilities assumed		27,500
Total consideration given		308,708
Fair value of identifiable assets acquired, and liabilities assumed:
Current assets		44,271
Property and equipment		1,871
Goodwill		262,566
Total identifiable net liabilities		18,642
Total consideration		$ 308,708

6. Business Combination (Deta_2

6. Business Combination (Details - Pro Forma)	9 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Tierra Science Global [Member]
Revenues	$ 2,228,896
Net loss allocable to common stockholders	$ (4,248,591)
Net loss per common share | $ / shares	$ (0.02)
Weighted-average number of shares outstanding | shares	213,163,928
AccuVape [Member]
Revenues	$ 2,232,518
Net loss allocable to common stockholders	$ (4,232,634)
Net loss per common share | $ / shares	$ (0.02)
Weighted-average number of shares outstanding | shares	213,163,928

6. Business Combination (Deta_3

6. Business Combination (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended				5 Months Ended	9 Months Ended
	Jul. 26, 2018	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Nov. 15, 2018	Mar. 31, 2019	Mar. 31, 2018
Stock issued for acquisition, value			$ 155,208	$ 300,630	$ 295,400		$ 455,838
Revenues		$ 835,293			$ 56,254		2,193,515	$ 63,913
Tierra Science Global [Member]
Stock issued for acquisition, shares	2,000,000
Stock issued for acquisition, value	$ 246,000
Revenues							718,276
AccuVape [Member]
Stock issued for acquisition, shares						496,667
Stock issued for acquisition, value						$ 155,208
Fair value of assets acquired, net of liabilities assumed						$ 18,642
Revenues							$ 42,670

8. Related Parties (Details Nar

8. Related Parties (Details Narrative) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Cowan
Due to related parties	$ 0	$ 15,485
Perry
Due to related parties	79,859	32,813
Medeiros [Member]
Due to related parties	$ 27,176	$ 63,000

9. Notes Payable (Details)

9. Notes Payable (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Notes payable	$ 4,748,430	$ 4,823,486
Notes payable - current	(843,803)	(381,575)
Notes payable - noncurrent	3,904,627	4,441,911
Note Payable 1 [Member]
Notes payable	94,500	99,000
Note Payable 2 [Member]
Notes payable	4,342,630	4,629,486
Note Payable 3 [Member]
Notes payable	0	0
Note Payable 4 [Member]
Notes payable	0	0
Note Payable 5 [Member]
Notes payable	0	0
Note Payable 6 [Member]
Notes payable	300,000	0
Note Payable 7 [Member]
Notes payable	0	0
Note Payable 8 [Member]
Notes payable	$ 300	$ 0

9. Notes Payable (Details Narra

9. Notes Payable (Details Narrative)	9 Months Ended
	Mar. 31, 2019USD ($)
Note Payable 1 [Member]
Debt issuance date	Mar. 3, 2017
Debt interest rate	0.00%
Debt maturity date	Mar. 3, 2020
Note Payable 2 [Member]
Debt issuance date	May 17, 2018
Debt interest rate	5.00%
Debt maturity date	Dec. 31, 2022
Note Payable 3 [Member]
Debt issuance date	Jun. 5, 2018
Debt interest rate	0.00%
Debt maturity date	Sep. 5, 2018
Note Payable 4 [Member]
Debt issuance date	Jul. 3, 2018
Debt interest rate	8.00%
Debt maturity date	Jan. 3, 2019
Original issue discount	$ 3,098
Note Payable 5 [Member]
Debt issuance date	Oct. 23, 2017
Debt interest rate	0.00%
Note Payable 6 [Member]
Debt issuance date	Mar. 15, 2019
Debt interest rate	0.00%
Debt maturity date	Jul. 5, 2019
Note Payable 7 [Member]
Debt issuance date	Feb. 21, 2018
Debt interest rate	0.00%
Note Payable 8 [Member]
Debt issuance date	Jul. 26, 2018
Debt interest rate	0.00%

10. Stockholders' Equity (Detai

10. Stockholders' Equity (Details - Stock activity) - USD ($)	3 Months Ended				9 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Mar. 31, 2019
Stock issued for acquisition, value		$ 155,208	$ 300,630	$ 295,400	$ 455,838
Issuance of common stock and warrants for cash, value					328,500
Issuance of common stock for services, value	$ 80,000	$ 161,724	$ 139,100		$ 300,824
Total stock issued during period, shares					37,810,730
Stock issued during period, value					$ 4,540,090
Business Combinations [Member]
Stock issued for acquisition, shares					2,496,667
Stock issued for acquisition, value					$ 455,838
Stock issued price per share	$ 0.18				$ 0.18
Cost Method Investments [Member]
Stock issued for acquisition, shares					3,000,000
Stock issued for acquisition, value					$ 375,000
Stock issued price per share	0.13				$ 0.13
Cash and Warrants [Member]
Stock issued price per share	0.11				$ 0.11
Issuance of common stock and warrants for cash, shares					30,597,946
Issuance of common stock and warrants for cash, value					$ 3,328,500
Stock for Services [Member]
Stock issued price per share	$ 0.22				$ 0.22
Issuance of common stock for services, shares					1,716,117
Issuance of common stock for services, value					$ 380,752

10. Stockholders' Equity (Det_2

10. Stockholders' Equity (Details - Warrants Granted) - Warrant [Member]	9 Months Ended
	Mar. 31, 2019$ / sharesshares
Warrants
Warrants Outstanding, beginning balance | shares	8,794,444
Warrants Granted | shares	42,000,000
Warrants Exercised | shares	(1,350,000)
Warrants Outstanding, ending balance | shares	49,444,444
Warrants Exercisable | shares	49,444,444
Weighted Average Exercise Price
Weighted average exercise price, warrants Outstanding, beginning price | $ / shares	$ 0.12
Weighted average exercise price, warrants Granted | $ / shares	0.21
Weighted average exercise price, warrants Exercised | $ / shares	0.06
Weighted average exercise price, warrants Outstanding, ending price | $ / shares	0.20
Weighted average exercise price, warrants Exercisable | $ / shares	$ 0.20
Weighted Average Remaining Contractual Life
Weighted average remaining contractual life	2 years 3 months 29 days

10. Stockholders' Equity (Det_3

10. Stockholders' Equity (Details - Warrants outstanding ) - $ / shares	9 Months Ended
	Mar. 31, 2019	Jun. 30, 2018
Warrant [Member]
Number Outstanding	49,444,444	8,794,444
Weighted-Average Remaining Contractual Life	2 years 3 months 29 days
Number Exercisable	49,444,444
$0.01 - $0.09 [Member]
Number Outstanding	1,000,000
Weighted-Average Remaining Contractual Life	2 years 9 months 18 days
Number Exercisable	1,000,000
Weighted-Average Exercise Price	$ 0.05
$0.10 - $0.19 [Member]
Number Outstanding	30,444,444
Weighted-Average Remaining Contractual Life	2 years 2 months 23 days
Number Exercisable	30,444,444
Weighted-Average Exercise Price	$ 0.17
$0.20 - $0.29 [Member]
Number Outstanding	18,000,000
Weighted-Average Remaining Contractual Life	2 years 5 months 16 days
Number Exercisable	18,000,000
Weighted-Average Exercise Price	$ 0.25
Total Warrants [Member]
Weighted-Average Remaining Contractual Life	2 years 3 months 29 days

10. Stockholders' Equity (Det_4

10. Stockholders' Equity (Details Narrative) - shares	Mar. 31, 2019	Jun. 30, 2018
Preferred shares outstanding	0	0
Series A Preferred Stock [Member]
Preferred shares outstanding	948,022
Series A Preferred Stock [Member] | Perry
Preferred shares outstanding	684,012
Series A Preferred Stock [Member] | Cowan
Preferred shares outstanding	264,010
Options [Member]
Stock options outstanding	0
2016 Stock Option Plan [Member]
Stock options authorized	10,000,000