Cover
Cover - shares | 9 Months Ended | |
Mar. 31, 2024 | Jun. 18, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2024 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --06-30 | |
Entity File Number | 333-197692 | |
Entity Registrant Name | STAR ALLIANCE INTERNATIONAL CORP. | |
Entity Central Index Key | 0001614556 | |
Entity Tax Identification Number | 37-1757067 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 5743 Corsa Avenue | |
Entity Address, Address Line Two | Suite 218 | |
Entity Address, City or Town | Westlake Village | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 91362 | |
City Area Code | 833 | |
Local Phone Number | 443-7827 | |
Title of 12(b) Security | Common | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 654,337,109 |
BALANCE SHEETS (Unaudited)
BALANCE SHEETS (Unaudited) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Current assets: | ||
Cash | $ 475 | $ 4,391 |
Prepaids and other assets | 412,000 | 482,500 |
Total current assets | 412,475 | 486,891 |
Property and equipment | 450,000 | 450,000 |
Mining claims | 57,532 | 57,532 |
Total Assets | 920,007 | 994,423 |
Current liabilities: | ||
Accounts payable | 120,443 | 110,565 |
Accrued interest | 113,485 | 75,681 |
Due to related parties | 64,456 | 55,654 |
Accrued compensation | 577,113 | 346,060 |
Notes payable | 335,026 | 202,051 |
Convertible notes payable, net of discount of $36,981 and $105,354, respectively | 372,907 | 396,652 |
Derivative liability | 1,193,321 | 1,010,145 |
Total current liabilities | 2,776,751 | 2,196,808 |
Total Liabilities | 2,776,751 | 2,196,808 |
COMMITMENTS AND CONTINGENCIES (see footnotes) | ||
Stockholders’ Equity (Deficit): | ||
Common stock, $0.001 par value, 950,000,000 shares authorized, 570,860,334 and 227,097,537 shares issued and outstanding, respectively | 570,860 | 227,098 |
Additional paid-in capital | 24,917,374 | 24,171,513 |
Common stock to be issued | 81,714 | 0 |
Preferred stock to be issued | 10,000 | 0 |
Stock subscription receivable | (56,250) | (56,250) |
Accumulated deficit | (27,383,472) | (25,547,794) |
Total stockholders’ (deficit) equity | (1,856,744) | (1,202,385) |
Total liabilities and stockholders’ deficit | 920,007 | 994,423 |
Preferred Stock [Member] | ||
Stockholders’ Equity (Deficit): | ||
Preferred stock, value | 0 | 0 |
Series A Preferred Stock [Member] | ||
Stockholders’ Equity (Deficit): | ||
Preferred stock, value | 1,000 | 1,000 |
Series B Preferred Stock [Member] | ||
Stockholders’ Equity (Deficit): | ||
Preferred stock, value | 1,883 | 1,883 |
Series C Preferred Stock [Member] | ||
Stockholders’ Equity (Deficit): | ||
Preferred stock, value | 0 | 165 |
Series D Preferred Stock [Member] | ||
Stockholders’ Equity (Deficit): | ||
Preferred stock, value | $ 147 | $ 0 |
BALANCE SHEETS (Unaudited) (Par
BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred stock, shares outstanding | 2,980,000 | 3,048,000 |
Preferred stock, shares issued | 2,980,000 | 3,048,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 950,000,000 | 950,000,000 |
Common stock, shares issued | 570,860,334 | 227,097,537 |
Common stock, shares outstanding | 570,860,334 | 227,097,537 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 1,000,000 | 1,000,000 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,900,000 | 1,900,000 |
Preferred stock, shares outstanding | 1,833,000 | 1,833,000 |
Preferred stock, shares issued | 1,833,000 | 1,833,000 |
Series C Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 0 | 163,950 |
Preferred stock, shares issued | 0 | 163,950 |
Series D Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 146,964 | 0 |
Preferred stock, shares issued | 146,964 | 0 |
Convertible Notes Payable [Member] | ||
Convertible notes payable, net of discount | $ 36,981 | $ 105,354 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |
Operating expenses: | ||||
General and administrative | $ 24,291 | $ 80,556 | $ 83,199 | $ 959,158 |
Professional fees | 10,050 | 22,130 | 39,998 | 89,130 |
Consulting | 40,500 | 16,500 | 53,000 | 1,110,593 |
Director compensation | 0 | 60,000 | 0 | 3,207,400 |
Officer compensation | 105,000 | 45,000 | 315,000 | 2,995,000 |
Total operating expenses | 179,841 | 224,186 | 491,197 | 8,361,281 |
Loss from operations | (179,841) | (224,186) | (491,197) | (8,361,281) |
Other income (expense): | ||||
Interest expense | (59,117) | (56,151) | (234,238) | (259,661) |
Change in fair value of derivative | (242,128) | 146,562 | (398,306) | (314,120) |
Loss on conversion of debt | (261,529) | (97,249) | (263,951) | (97,249) |
Loss on conversion of preferred stock | 0 | (152,985) | (306,373) | (911,109) |
Gain on conversion of debt | 0 | 0 | 5,378 | 0 |
Impairment expense | (107,500) | 0 | (107,500) | 0 |
Loss on issuance of convertible debt | (4,612) | 0 | (4,612) | 0 |
Penalty expense related to convertible debt | (14,088) | 0 | (34,879) | 0 |
Total other expense | (688,974) | (159,823) | (1,344,481) | (1,582,139) |
Loss before provision for income taxes | (868,815) | (384,009) | (1,835,678) | (9,943,420) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (868,815) | $ (384,009) | $ (1,835,678) | $ (9,943,420) |
Net loss per common share - basic | $ 0 | $ 0 | $ 0 | $ (0.05) |
Net loss per common share - diluted | $ 0 | $ 0 | $ 0 | $ (0.05) |
Weighted average common shares outstanding - basic | 529,178,170 | 201,814,961 | 396,969,302 | 186,334,124 |
Weighted average common shares outstanding - diluted | 529,178,170 | 201,814,961 | 396,969,302 | 186,334,124 |
STATEMENT OF CHANGES IN STOCKHO
STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT (Unaudited) - USD ($) | Series A Preferred Stocks [Member] | Series B Preferred Stocks [Member] | Series C Preferred Stocks [Member] | Series D Preferred Stocks [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Stock To Be Issued [Member] | Stock Subscription Receivable [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jun. 30, 2022 | $ 1,000 | $ 1,883 | $ 208 | $ 162,788 | $ 16,384,983 | $ (50,000) | $ (15,058,400) | $ 1,442,462 | ||
Beginning balance, shares at Jun. 30, 2022 | 1,000,000 | 1,833,000 | 207,500 | 162,788,028 | ||||||
Preferred stock sold for cash | $ 47 | 46,453 | 46,500 | |||||||
Preferred stock sold for cash, shares | 46,500 | |||||||||
Stock sold for cash | $ 50 | 6,200 | (6,250) | |||||||
Stock sold for cash, shares | 50,000 | |||||||||
Stock issued for services – related party | $ 20,000 | 5,730,000 | 5,750,000 | |||||||
Stock issued for services - related party, shares | 20,000,000 | |||||||||
Net loss | (7,376,679) | (7,376,679) | ||||||||
Ending balance, value at Sep. 30, 2022 | $ 1,000 | $ 1,883 | $ 255 | $ 182,838 | 22,167,636 | (56,250) | (22,435,079) | (137,717) | ||
Ending balance, shares at Sep. 30, 2022 | 1,000,000 | 1,833,000 | 254,000 | 182,838,028 | ||||||
Beginning balance, value at Jun. 30, 2022 | $ 1,000 | $ 1,883 | $ 208 | $ 162,788 | 16,384,983 | (50,000) | (15,058,400) | 1,442,462 | ||
Beginning balance, shares at Jun. 30, 2022 | 1,000,000 | 1,833,000 | 207,500 | 162,788,028 | ||||||
Net loss | (9,943,420) | |||||||||
Ending balance, value at Mar. 31, 2023 | $ 1,000 | $ 1,883 | $ 223 | $ 209,520 | 23,869,294 | (56,250) | (25,001,820) | (976,150) | ||
Ending balance, shares at Mar. 31, 2023 | 1,000,000 | 1,833,000 | 221,700 | 209,519,429 | ||||||
Beginning balance, value at Sep. 30, 2022 | $ 1,000 | $ 1,883 | $ 255 | $ 182,838 | 22,167,636 | (56,250) | (22,435,079) | (137,717) | ||
Beginning balance, shares at Sep. 30, 2022 | 1,000,000 | 1,833,000 | 254,000 | 182,838,028 | ||||||
Preferred stock sold for cash | $ 58 | 50,692 | 50,750 | |||||||
Preferred stock sold for cash, shares | 57,750 | |||||||||
Stock issued for conversion of debt | 1,538 | 102,385 | 103,923 | |||||||
Preferred stock converted to common stock | $ (154) | 4,448 | 762,251 | 766,545 | ||||||
Preferred stock converted to common stock, shares | (153,750) | |||||||||
Stock issued for services – related party | 1,000 | 164,000 | 165,000 | |||||||
Stock issued for services | $ 2,025 | 67,880 | 69,905 | |||||||
Stock issued for services - related party, shares | 1,000,000 | |||||||||
Net loss | (2,182,732) | (2,182,732) | ||||||||
Preferred stock issued for asset acquisitions | 400,000 | |||||||||
Stock issued for services, shares | 2,025,000 | |||||||||
Stock issued for conversion of debt, shares | 1,538,461 | |||||||||
Preferred stock converted to common stock, shares | 4,447,871 | |||||||||
Ending balance, value at Dec. 31, 2022 | $ 1,000 | $ 1,883 | $ 159 | $ 191,849 | 23,314,844 | (56,250) | (24,617,811) | (764,326) | ||
Ending balance, shares at Dec. 31, 2022 | 1,000,000 | 1,833,000 | 158,000 | 191,849,360 | ||||||
Preferred stock sold for cash | $ 164 | 163,786 | 163,950 | |||||||
Preferred stock sold for cash, shares | 163,950 | |||||||||
Stock issued for conversion of debt | 7,512 | 221,020 | 228,532 | |||||||
Preferred stock converted to common stock | (100) | 9,159 | 143,927 | 152,986 | ||||||
Preferred dividends | (13,375) | (13,375) | ||||||||
Preferred stock converted to common stock, shares | (100,250) | |||||||||
Stock issued for services | 1,000 | 15,000 | 16,000 | |||||||
Net loss | (384,009) | (384,009) | ||||||||
Warrants issued | 24,092 | 24,092 | ||||||||
Stock issued for services, shares | 1,000,000 | |||||||||
Stock issued for conversion of debt, shares | 7,512,157 | |||||||||
Preferred stock converted to common stock, shares | 9,157,912 | |||||||||
Preferred dividends | 13,375 | 13,375 | ||||||||
Ending balance, value at Mar. 31, 2023 | $ 1,000 | $ 1,883 | $ 223 | $ 209,520 | 23,869,294 | (56,250) | (25,001,820) | (976,150) | ||
Ending balance, shares at Mar. 31, 2023 | 1,000,000 | 1,833,000 | 221,700 | 209,519,429 | ||||||
Beginning balance, value at Jun. 30, 2023 | $ 1,000 | $ 1,883 | $ 165 | $ 227,098 | 24,171,513 | (56,250) | (25,547,794) | (1,202,385) | ||
Beginning balance, shares at Jun. 30, 2023 | 1,000,000 | 1,833,000 | 163,950 | 227,097,537 | ||||||
Stock issued for conversion of debt | $ 27,687 | 48,758 | 76,445 | |||||||
Preferred stock converted to common stock | $ (75) | 53,371 | 88,096 | 141,392 | ||||||
Preferred stock converted to common stock, shares | (75,138) | |||||||||
Stock sold for cash | 10,000 | 10,000 | ||||||||
Net loss | (372,472) | (372,472) | ||||||||
Stock issued for conversion of debt, shares | 27,687,342 | |||||||||
Preferred stock converted to common stock, shares | 53,371,284 | |||||||||
Ending balance, value at Sep. 30, 2023 | $ 1,000 | $ 1,883 | $ 90 | $ 308,156 | 24,308,367 | 10,000 | (56,250) | (25,920,266) | (1,347,020) | |
Ending balance, shares at Sep. 30, 2023 | 1,000,000 | 1,833,000 | 88,812 | 308,156,163 | ||||||
Beginning balance, value at Jun. 30, 2023 | $ 1,000 | $ 1,883 | $ 165 | $ 227,098 | 24,171,513 | (56,250) | (25,547,794) | (1,202,385) | ||
Beginning balance, shares at Jun. 30, 2023 | 1,000,000 | 1,833,000 | 163,950 | 227,097,537 | ||||||
Net loss | (1,835,678) | |||||||||
Ending balance, value at Mar. 31, 2024 | $ 1,000 | $ 1,883 | $ 147 | $ 570,860 | 24,917,374 | 91,714 | (56,250) | (27,383,472) | (1,856,744) | |
Ending balance, shares at Mar. 31, 2024 | 1,000,000 | 1,833,000 | 146,964 | 570,860,334 | ||||||
Beginning balance, value at Sep. 30, 2023 | $ 1,000 | $ 1,883 | $ 90 | $ 308,156 | 24,308,367 | 10,000 | (56,250) | (25,920,266) | (1,347,020) | |
Beginning balance, shares at Sep. 30, 2023 | 1,000,000 | 1,833,000 | 88,812 | 308,156,163 | ||||||
Stock issued for conversion of debt | $ 26,333 | 6,400 | 32,733 | |||||||
Preferred stock converted to common stock | $ (79) | 136,597 | 29,002 | 165,520 | ||||||
Preferred stock converted to common stock, shares | (77,790) | |||||||||
Stock sold for cash | 80,000 | 80,000 | ||||||||
Stock granted for debt issuance cost | 71,495 | 71,495 | ||||||||
Forgiveness of debt – related party | 5,000 | 5,000 | ||||||||
Net loss | (594,391) | (594,391) | ||||||||
Preferred stock redemption | $ (11) | (14,318) | (14,329) | |||||||
Preferred stock redemption, shares | (11,022) | |||||||||
Stock issued for conversion of debt, shares | 26,333,000 | |||||||||
Preferred stock converted to common stock, shares | 136,597,058 | |||||||||
Ending balance, value at Dec. 31, 2023 | $ 1,000 | $ 1,883 | $ 471,086 | 24,334,451 | 161,495 | (56,250) | (26,514,657) | (1,600,992) | ||
Ending balance, shares at Dec. 31, 2023 | 1,000,000 | 1,833,000 | 471,086,221 | |||||||
Stock issued for conversion of debt | $ 99,770 | 461,769 | 561,539 | |||||||
Stock sold for cash | $ 96 | 79,904 | (70,000) | 10,000 | ||||||
Stock sold for cash, shares | 96,000 | |||||||||
Stock issued for services | $ 51 | 4 | 41,250 | 219 | 41,524 | |||||
Net loss | (868,815) | (868,815) | ||||||||
Stock issued for services, shares | 50,964 | 3,856 | ||||||||
Stock issued for conversion of debt, shares | 99,770,257 | |||||||||
Ending balance, value at Mar. 31, 2024 | $ 1,000 | $ 1,883 | $ 147 | $ 570,860 | $ 24,917,374 | $ 91,714 | $ (56,250) | $ (27,383,472) | $ (1,856,744) | |
Ending balance, shares at Mar. 31, 2024 | 1,000,000 | 1,833,000 | 146,964 | 570,860,334 |
STATEMENT OF CASH FLOWS (Unaudi
STATEMENT OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (1,835,678) | $ (9,943,420) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Prepaid stock issued for services | 0 | 1,813,853 |
Common stock issued for services - related party | 0 | 5,915,000 |
Stock issued for services | 41,524 | 85,905 |
Loss on conversion of preferred stock | 306,373 | 911,109 |
Change in fair value of derivative | 398,306 | 314,120 |
Debt discount amortization | 181,362 | 208,050 |
Loss on conversion of debt | 263,951 | 0 |
Gain on conversion of debt | (5,378) | 0 |
Loss on issuance of convertible debt | 4,612 | 97,249 |
Impairment expense | 107,500 | 0 |
Changes in assets and liabilities: | ||
Prepaids and other assets | (37,000) | 39,850 |
Accounts payable | 9,878 | 8,277 |
Accrued expenses | 67,058 | 49,986 |
Accrued expenses – related party | 13,802 | 8,043 |
Accrued compensation | 231,053 | 86,209 |
Net cash used in operating activities | (252,637) | (405,769) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds of borrowings from a related party | 0 | 42,000 |
Proceeds from the sale of common stock | 10,000 | 0 |
Proceeds from the sale of preferred stock | 90,000 | 261,200 |
Proceeds from notes payable | 220,800 | 77,355 |
Repayment of convertible note payable | 0 | (15,000) |
Payment on notes payable | 0 | (27,903) |
Payments on convertible notes payable | (57,750) | 0 |
Redemption of preferred stock | (14,329) | 0 |
Net cash provided by financing activities | 248,721 | 337,652 |
Net change in cash | (3,916) | (68,117) |
Cash at the beginning of period | 4,391 | 71,724 |
Cash at the end of period | 475 | 3,607 |
NON-CASH TRANSACTIONS: | ||
Conversion of debt | 165,765 | 0 |
Common stock issued for prepaid services | $ 0 | $ 1,813,854 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Mar. 31, 2024 | Dec. 31, 2023 | Sep. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Mar. 31, 2024 | Mar. 31, 2023 | |
Pay vs Performance Disclosure [Table] | ||||||||
Net Income (Loss) | $ (868,815) | $ (594,391) | $ (372,472) | $ (384,009) | $ (2,182,732) | $ (7,376,679) | $ (1,835,678) | $ (9,943,420) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Insider Trading Arrangements [Line Items] | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
NATURE OF BUSINESS
NATURE OF BUSINESS | 9 Months Ended |
Mar. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF BUSINESS | NOTE 1 – NATURE OF BUSINESS Star Alliance International Corp. (“the Company”, “we”, “us”) was originally incorporated with the name Asteriko Corp. in the State of Nevada on April 17, 2014, under the laws of the state of Nevada. The primary purpose of the Company is to acquire and develop gold mining as well as certain other mining properties worldwide, finding patented new mining technologies and proprietary technology outside the mining industry. GOING CONCERN The accompanying unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As shown in the accompanying unaudited financial statements, the Company has an accumulated deficit of $ 27,383,472 1,835,678 252,637 The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern. |
SIGNIFICANT AND CRITICAL ACCOUN
SIGNIFICANT AND CRITICAL ACCOUNTING POLICIES AND PRACTICES | 9 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
SIGNIFICANT AND CRITICAL ACCOUNTING POLICIES AND PRACTICES | NOTE 2 – SIGNIFICANT AND CRITICAL ACCOUNTING POLICIES AND PRACTICES Basis of Presentation These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company’s 10-K for its fiscal year ended June 30, 2023. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of March 31, 2024, and the results of its operations and cash flows for the three months then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year ending June 30, 2024. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Reclassifications Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the nine months ended March 31, 2024. Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP) and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable carrying value approximates the fair value of such instruments as the notes bear interest rates that are consistent with current market rates. The following table classifies the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of: Schedule of fair value, liabilities measured on recurring basis At March 31, 2024 Description Level 1 Level 2 Level 3 Derivative $ – $ – $ 1,193,321 Total $ – $ – $ 1,193,321 At June 30, 2023 Description Level 1 Level 2 Level 3 Derivative $ – $ – $ 1,010,145 Total $ – $ – $ 1,010,145 |
AGREEMENTS FOR ASSET ACQUISITIO
AGREEMENTS FOR ASSET ACQUISITIONS | 9 Months Ended |
Mar. 31, 2024 | |
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] | |
AGREEMENTS FOR ASSET ACQUISITIONS | NOTE 3 – AGREEMENTS FOR ASSET ACQUISITIONS On December 15, 2021, the Company entered into that certain share purchase agreement (the “Commsa Purchase Agreement”) with Juan Lemus, the sole shareholder of Compania Minera Metalurgica Centro Americana, a Honduran Corporation (“Commsa”). The Commsa Purchase Agreement contemplated the acquisition by the Company of 51 On August 14, 2023, the Company and Juan Lemus executed a first addendum to the Commsa Purchase Agreement which provided for the extension of the Company’s obligations to pay $1,000,000 in cash, the issuance of 5,000,000 shares of the Company’s common stock to Mr. Lemus and the payment of $7,500,000 in working capital until September 30, 2023. On September 28, 2023, the parties executed a second addendum that extended the time of the Company’s payments from September 30, 2023 to December 31, 2023. The Company did no On March 19, 2023, the Company entered into and executed a share purchase agreement (the “Lion Works Purchase Agreement”) with Lion Works Advertising, SA, a Guatemalan corporation (“Lion Works”) and Juan Lemus, the sole shareholder of Lion Works, which contemplated the acquisition by the Company, as Buyer, from Mr. Lemus, as Seller, of 51% of the capital stock of Lion Works, including 51% of the intellectual property rights and know-how related to the Genesis extraction system (“Genesis”). The Lion Works Purchase Agreement superseded the terms of the binding Letter of Intent that the parties entered into on November 21, 2021. Pursuant to the terms of the Lion Works Purchase Agreement, the Company’s consideration for the acquisition of 51 · The total purchase price of $5,100,000 in cash, with the first minimum payment in the amount of $2,550,000 to be paid by September 30, 2023, and the remaining outstanding balance of $2,550,000 to be paid by September 30, 2024, within 12 months of the first payment. · An additional 5,000,000 as a working capital toward the development of the Genesis plants, with $2,000,000 to be paid by July 31, 2023 and the remaining $3,000,000 to be paid by July 31, 2024, within 12 months of the first payment. · Engagement of a patent attorney and payment for the cost of that patent attorney to prepare the patent application related to Genesis and to register that patent, provided that Lion Works will engage an expert to prepare a report on the Genesis system, to be used in this patent application. The parties agreed that the closing of the transactions contemplated by the Lion Works Purchase Agreement will occur on or before March 19, 2023 or at such other time and place as the Buyer and the Seller may agree, provided that (i) the Seller receives the first tranche of working capital funds in the amount of $2,000 prior to the execution and delivery of (i) the paperwork necessary for the attorney to complete the patent submission, (ii) all documentation necessary for the buyer to market the Genesis program, (iii) any other document, certificate or instrument to consummate the transactions contemplated by the Lion Works Purchase Agreement. On July 21, 2023, Juan Lemus and the Company executed a first addendum to the Lion Works Purchase Agreement, pursuant to which the Company’s obligations to pay $ 2,000,000 no On December 4, 2023, the Company signed a consulting agreement (the “Agreement”) with the Knightsbridge Group (“Knightsbridge”) with the effective date of December 11, 2023. The terms of the Agreement amended and superseded the terms of the Memorandum of Understanding the parties executed on November 6, 2023. The Agreement provided for the development and issuance of a Digital Gold Coin (“DGC”) by Knightsbridge, backed by the Company’s gold assets, provided that DGC will not be issued unless and until all the necessary paperwork required by the SEC and any other government agency were completed and timely filed; exploration of additional opportunities related to digital assets, equity and derivatives, to enhance the Company’s financial standing and growth; other consulting, advisory services by Knightsbridge in the Asian markets, in consideration for (a) issuance of 48,000,000 shares of the Company’s common stock; (b) 50,000 shares of the newly-designated Series D Convertible Preferred Stock, with the right to convert each share of Series D Convertible Preferred Stock to (500) common shares of Common Stock of the Company in 12 months; and (c) Ten (10) percent of the developed and issued DGC, will be retained by KG as payment for development and maintenance of the DGC developed for the Company. As of the date of this Quarterly Report, Knightsbridge has concluded its research aimed at exploring the feasibility and potential benefits of issuing a gold-linked Digital asset. The Company has not issued any shares of its common stock or Series D preferred stock to Knightsbridge prior to the end of the quarter. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 9 Months Ended |
Mar. 31, 2024 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 4 – PROPERTY AND EQUIPMENT Long lived assets, including property and equipment assets to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Impairment losses are recognized if expected future cash flows of the related assets are less than their carrying values. Measurement of an impairment loss is based on the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. Property and equipment are first recorded at cost. Depreciation and is computed using the straight-line method over the estimated useful lives of the various classes of assets. Maintenance and repair expenses, as incurred, are charged to expense. Betterments and renewals are capitalized in plant and equipment accounts. Cost and accumulated depreciation applicable to items replaced or retired are eliminated from the related accounts with any gain or loss on the disposition included as income. Assets stated at cost, less accumulated depreciation consisted of the following: Schedule of assets stated at cost, less accumulated depreciation March 31, June 30, Property and Equipment /Mine Assets $ 450,000 $ 450,000 Total Property and Equipment $ 450,000 $ 450,000 Once operations utilizing the property and equipment have begun, the Company will begin depreciation of the assets. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Mar. 31, 2024 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS On August 1, 2019, the Company entered into and executed initial employment agreements with Richard Carey, John Baird and Anthony Anish. Each initial employment agreement provided that the initial term of the employment agreement has the term of 36 months starting from August 1, 2019, and continues until July 31, 2022. Thereafter, such employment agreement may be renewed upon mutual agreement of the parties. The employment agreement also may be terminated by each party upon 30 days’ notice to the other party, provided that in the event the Executive breaches his material obligations to the Company, the Company may terminate the executive employment immediately. Each executive agreement included the compensation for the executive, including the base and incentive salary. On January 1, 2021, the Company amended the employment agreements with Richard Carey, CEO and Anthony Anish, CFO, which increased the base annual salaries for Mr. Carey from $120,000 per annum to $180,000 per annum, and for Mr. Anish from $60,000 per annum to $120,000 per annum. All other terms of the initial employment agreements with Mr. Carey and Mr. Anish remained unchanged. On March 14, 2023, the Company renewed the employment agreements with Mr. Carey and Mr. Anish (the “New Employment Agreements”), stating that the effective date of the New Employment Agreement is August 1, 2022 and that they have the term of 36 months, the same as the terms of the initial employment agreements. Except for the compensation provisions, the New Employment Agreements contain the same provisions as the initial employment agreement for each executive. Under the terms of the New Employment Agreement, Mr. Carey is entitled to receive the following compensation: · For the period from August 1, 2022 to December 31, 2022, Mr. Carey received the base salary equal to $ 180,000 · For the period from January 1, 2023 to July 31, 2024, Mr. Carey will receive the base salary equal to $ 240,000 · For the period from August 1, 2024 to July 31, 2025, Mr. Carey will receive the base salary equal to $ 270,000 Under the terms of the New Employment Agreement, Mr. Anish is entitled to receive s the following compensation: · For the period from August 1, 2022 to December 31, 2022, Mr. Anish received the base salary equal to $ 120,000 · For the period from January 1, 2023 to July 31, 2024, Mr. Anish will receive the base salary equal to $ 180,000 · For the period from August 1, 2024 to July 31, 2025, Mr. Anish will receive the base salary equal to $ 210,000 On November 17, 2022, Mr. Carey agreed to give 4 million of his own shares of common stock in exchange for $ 42,000 37,910 As of March 31, 2024, the Company owes Themis Glatman, Director, $ 18,709 5,000 As of March 31, 2024, the Company owes Mr. Anish, $ 12,318 |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | NOTE 6 – NOTES PAYABLE As of March 31, 2024 and June 30, 2023, the Company owed Kok Chee Lee, the former CEO and Director of the Company, $ 42,651 42,651 On June 1, 2018, the Company executed a promissory note in the amount of $ 32,000 5 December 1, 2018 9,362 6,562 On November 16, 2023, the Company issued a promissory note for $ 85,000 10 January 31, 2024 In addition, as an additional inducement to the lender for purchasing the Note, the Company will issue 100,000,000 , the shares have not yet been issued and $ 71,495 As of March 31, 2024 and June 30, 2023, the Company owes various other individuals and entities $ 155,375 127,400 |
CONVERTIBLE NOTES AND DERIVATIV
CONVERTIBLE NOTES AND DERIVATIVE LIABILITY | 9 Months Ended |
Mar. 31, 2024 | |
Convertible Notes And Derivative Liability | |
CONVERTIBLE NOTES AND DERIVATIVE LIABILITY | NOTE 7 – CONVERTIBLE NOTES AND DERIVATIVE LIABILITY On March 28, 2022, the Company received short term financing from a private investor under a 10% Fixed Convertible Secured Promissory Note in the principal amount of $ 400,000 On February 27, 2023, the Company repaid $ 15,000 75,000 53,217 61,104,000 On February 7, 2023, the Company executed a 12 60,556 1,211,111 0.05 5 On February 8, 2023, the Company executed a 10 38,000 On June 8, 2023, the Company executed a 9 price per share equal to 65% of the lowest trading price of the Company’s common stock during the 20 consecutive trading days prior to the date on which lender elects to convert all or part of the Note. On February 4, 2024, the Company executed a 15 Note is to be repaid in 9 payments of $8,081.89 (a total payback to the Holder of $72,737). On March 8, 2024, the Company executed a 10 price per share equal to 90% of the average of the two lowest trading price of the Company’s common stock during the 20 consecutive trading days prior to the date on which lender elects to convert all or part of the Note. The following table summarizes the convertible notes outstanding as of March 31, 2024: Schedule of convertible notes Note Holder Date Maturity Date Interest Balance Additions Conversions Balance Private investor 3/28/2022 7/31/2022 14 $ 310,000 $ – $ – $ 310,000 Quick Capital LLC 2/7/2023 11/8/2023 12 60,556 14,088 (67,418 ) 7,226 AES Capital Management, LLC 2/8/2023 2/7/2024 10 38,000 – (38,000 ) – Rock Bay Partners 10 35,700 – (35,700 ) – 1800 Diagonal Lending, LLC 6/8/2023 3/8/2024 9 57,750 – (57,750 )(1) – 1800 Diagonal Lending, LLC 2/5/2024 11/15/2024 15 – 63,250 – 63,250 Keystone Capital Partners 3/8/2024 12/8/2024 10 – 29,412 – 29,412 Total $ 502,006 $ 106,750 $ (198,868 ) $ 409,888 Less debt discount $ (105,354 ) $ (36,981 ) Convertible notes payable, net $ 396,652 $ 372,907 _______________ (1) This note was repaid in cash. A summary of the activity of the derivative liability for the notes above is as follows: Schedule of derivative liabilities Balance at June 30, 2023 $ 1,010,145 Increase to derivative due to new issuances 28,444 Decrease to derivative due to conversion/repayment (347,430 ) Derivative loss due to mark to market adjustment 502,162 Balance at March 31, 2024 $ 1,193,321 A summary of quantitative information about significant unobservable inputs (Level 3 inputs) used in measuring the Company’s derivative liability that are categorized within Level 3 of the fair value hierarchy as of March 31, 2024, is as follows: Schedule of fair value assumptions Inputs March 31, 2024 Initial Stock price $ 0.0054 $ 0.015 – 0.42 Conversion price $ 0.0015 – 0.0025 $ 0.015 – 0.2995 Volatility (annual) 250.15% – 294.18% 265.91% – 381.28% Risk-free rate 5.4% 0.59% – 5.12% Dividend rate – – Years to maturity 0.25 – 0.69 0.34 – 1 |
PREFERRED STOCK
PREFERRED STOCK | 9 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
PREFERRED STOCK | NOTE 8 – PREFERRED STOCK Of the 25,000,000 0.001 1,000,000 1,900,000 1,000,000 Series A Preferred Stock Each Share of Series A preferred stock has 500 votes per share and each share can be converted into 500,000,000 shares of common stock. The holders of the Series A preferred stock are not entitled to dividends. Series B Preferred Stock Only one person or entity, is entitled to be designated as the owner of all of the Series B Preferred Stock (the “Holder”), in whose name the initial certificates representing the Series B Preferred Stock shall be issued. Any transfer of the Series B Preferred Stock to a different Holder must be approved in advance by the Corporation; provided, however, the Holder shall have the right to transfer the Series B Preferred Stock, or any portion thereof, to any affiliate of Holder or nominee of Holder, without the approval of the Corporation. Each share of Preferred Stock has one vote per share. Holder is not entitled to dividends or distributions and each share of Series B Preferred Stock shall be convertible at the rate of two Common Shares for each one B Preferred stock. On October 9, 2019, the parties have agreed to extend the date for filing the registration statement relating to the preferred shares of the Company to be issued to the Troy shareholders and that would in turn extend the date that the shares would become free trading. This extension will be for 150 days for filing the registration statement and obtaining approval for the shares to become free trading. All the remaining terms included in the contract will remain the same. Series C Preferred Stock On March 30, 2022, the Company created and designated 1,000,000 1.00 During the three months ended September 30, 2023, Geneva Roth converted 75,138 53,371,284 140,853 During the three months ended December 31, 2023, Geneva Roth converted 77,790 136,597,058 165,520 11,022 14,329 no Series D Preferred Stock On January 5, 2024, the Company filed the Certificate of Designation of Series D Convertible Preferred Stock with the Nevada Secretary of State (“Series D Stock”), pursuant to which 1,000,000 During the nine months ended March 31, 2024, the Company received $ 90,000 100,000 4,000 10,000 During the nine months ended March 31, 2024, the Company granted 50,964 0.81 41,524 |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
Mar. 31, 2024 | |
Equity [Abstract] | |
COMMON STOCK | NOTE 9 – COMMON STOCK On January 18, 2024, the Company filed an amendment to its Articles of Incorporation, which increased the authorized common stock of the Company to 950,000 During the nine months ended March 31, 2024, Quick Capital LLC converted $ 67,418 67,133,595 During the nine months ended March 31, 2024, AES converted $ 38,000 27,553,004 During the nine months ended March 31, 2024, RockBay Partners converted $ 36,837 54,104,000 During the nine months ended March 31, 2024, Keystone converted $ 12,825 5,000,000 During the nine months ended March 31, 2024, Geneva Roth converted 152,928 189,968,342 306,373 During the nine months ended March 31, 2024, the Company received $ 10,000 On November 16, 2023, the Company issued a promissory note for $ 85,000 s an additional inducement to the lender for purchasing the Note, the Company will issue 100,000,000 shares of its common stock to the lender. These shares are being valued at the closing stock price on the date of grant with the relative fair value accounted for as a debt discount to be amortized over the term of the loan. As of , the shares have not yet been issued and $ 71,495 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Mar. 31, 2024 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 10 – SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued and has determined that the following material subsequent events exist. 1/. On May 6, 2024, the Company signed a new convertible note with AES Capital Management, LLC in the amount of $400,000 which repaid an outstanding note that was used to purchase the Troy mine. 2/. On May 15, 2024, the Company signed a new line of credit transaction for $25 million. 3/. On May 24, 2024, the Company signed a new convertible note with AES Capital Management, LLC in the amount of $300,000 which became effective on June 5, 2024. 4/. On May 31, 2024, the Company has signed a JV agreement with Lion Works Advertising SA to fund the independent report on the Genesis system and the preparation of the patents. 5/. On June 4, 2024, the Company filed an amendment with the Secretary of State for Nevada to increase the Authorized capital of the Common shares of the Company to 1,500,000,000 shares of stock. |
SIGNIFICANT AND CRITICAL ACCO_2
SIGNIFICANT AND CRITICAL ACCOUNTING POLICIES AND PRACTICES (Policies) | 9 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company’s 10-K for its fiscal year ended June 30, 2023. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of March 31, 2024, and the results of its operations and cash flows for the three months then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year ending June 30, 2024. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Reclassifications | Reclassifications Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the nine months ended March 31, 2024. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP) and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable carrying value approximates the fair value of such instruments as the notes bear interest rates that are consistent with current market rates. The following table classifies the Company’s liabilities measured at fair value on a recurring basis into the fair value hierarchy as of: Schedule of fair value, liabilities measured on recurring basis At March 31, 2024 Description Level 1 Level 2 Level 3 Derivative $ – $ – $ 1,193,321 Total $ – $ – $ 1,193,321 At June 30, 2023 Description Level 1 Level 2 Level 3 Derivative $ – $ – $ 1,010,145 Total $ – $ – $ 1,010,145 |
SIGNIFICANT AND CRITICAL ACCO_3
SIGNIFICANT AND CRITICAL ACCOUNTING POLICIES AND PRACTICES (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
Accounting Policies [Abstract] | |
Schedule of fair value, liabilities measured on recurring basis | Schedule of fair value, liabilities measured on recurring basis At March 31, 2024 Description Level 1 Level 2 Level 3 Derivative $ – $ – $ 1,193,321 Total $ – $ – $ 1,193,321 At June 30, 2023 Description Level 1 Level 2 Level 3 Derivative $ – $ – $ 1,010,145 Total $ – $ – $ 1,010,145 |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
Property, Plant and Equipment [Abstract] | |
Schedule of assets stated at cost, less accumulated depreciation | Schedule of assets stated at cost, less accumulated depreciation March 31, June 30, Property and Equipment /Mine Assets $ 450,000 $ 450,000 Total Property and Equipment $ 450,000 $ 450,000 |
CONVERTIBLE NOTES AND DERIVAT_2
CONVERTIBLE NOTES AND DERIVATIVE LIABILITY (Tables) | 9 Months Ended |
Mar. 31, 2024 | |
Convertible Notes And Derivative Liability | |
Schedule of convertible notes | Schedule of convertible notes Note Holder Date Maturity Date Interest Balance Additions Conversions Balance Private investor 3/28/2022 7/31/2022 14 $ 310,000 $ – $ – $ 310,000 Quick Capital LLC 2/7/2023 11/8/2023 12 60,556 14,088 (67,418 ) 7,226 AES Capital Management, LLC 2/8/2023 2/7/2024 10 38,000 – (38,000 ) – Rock Bay Partners 10 35,700 – (35,700 ) – 1800 Diagonal Lending, LLC 6/8/2023 3/8/2024 9 57,750 – (57,750 )(1) – 1800 Diagonal Lending, LLC 2/5/2024 11/15/2024 15 – 63,250 – 63,250 Keystone Capital Partners 3/8/2024 12/8/2024 10 – 29,412 – 29,412 Total $ 502,006 $ 106,750 $ (198,868 ) $ 409,888 Less debt discount $ (105,354 ) $ (36,981 ) Convertible notes payable, net $ 396,652 $ 372,907 _______________ (1) This note was repaid in cash. |
Schedule of derivative liabilities | Schedule of derivative liabilities Balance at June 30, 2023 $ 1,010,145 Increase to derivative due to new issuances 28,444 Decrease to derivative due to conversion/repayment (347,430 ) Derivative loss due to mark to market adjustment 502,162 Balance at March 31, 2024 $ 1,193,321 |
Schedule of fair value assumptions | Schedule of fair value assumptions Inputs March 31, 2024 Initial Stock price $ 0.0054 $ 0.015 – 0.42 Conversion price $ 0.0015 – 0.0025 $ 0.015 – 0.2995 Volatility (annual) 250.15% – 294.18% 265.91% – 381.28% Risk-free rate 5.4% 0.59% – 5.12% Dividend rate – – Years to maturity 0.25 – 0.69 0.34 – 1 |
NATURE OF BUSINESS (Details Nar
NATURE OF BUSINESS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Mar. 31, 2024 | Dec. 31, 2023 | Sep. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Mar. 31, 2024 | Mar. 31, 2023 | Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||
Accumulated deficit | $ 27,383,472 | $ 27,383,472 | $ 25,547,794 | ||||||
Net loss | $ 868,815 | $ 594,391 | $ 372,472 | $ 384,009 | $ 2,182,732 | $ 7,376,679 | 1,835,678 | $ 9,943,420 | |
Cash in operating activities | $ 252,637 | $ 405,769 |
SIGNIFICANT AND CRITICAL ACCO_4
SIGNIFICANT AND CRITICAL ACCOUNTING POLICIES AND PRACTICES (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Fair Value, Inputs, Level 1 [Member] | ||
Platform Operator, Crypto Asset [Line Items] | ||
Derivative fair value | $ 0 | $ 0 |
Fair Value, Inputs, Level 1 [Member] | Derivative [Member] | ||
Platform Operator, Crypto Asset [Line Items] | ||
Derivative fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Platform Operator, Crypto Asset [Line Items] | ||
Derivative fair value | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Derivative [Member] | ||
Platform Operator, Crypto Asset [Line Items] | ||
Derivative fair value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Platform Operator, Crypto Asset [Line Items] | ||
Derivative fair value | 1,193,321 | 1,010,145 |
Fair Value, Inputs, Level 3 [Member] | Derivative [Member] | ||
Platform Operator, Crypto Asset [Line Items] | ||
Derivative fair value | $ 1,193,321 | $ 1,010,145 |
AGREEMENTS FOR ASSET ACQUISIT_2
AGREEMENTS FOR ASSET ACQUISITIONS (Details Narrative) - USD ($) | Dec. 31, 2023 | Jul. 21, 2023 | Mar. 19, 2023 | Dec. 15, 2021 |
Lion Works Purchase Agreement [Member] | Lion Works [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition percentage | 51% | |||
Commsa Acquisition [Member] | Commsa Purchase Agreement [Member] | ||||
Business Acquisition [Line Items] | ||||
Acquisition percentage | 51% | |||
Payments to acquire business | $ 0 | |||
Commsa Acquisition [Member] | Share Purchase Agreement [Member] | Juan Lemus [Member] | ||||
Business Acquisition [Line Items] | ||||
Working capital | $ 2,000,000 | |||
Lion Works Purchase Agreement [Member] | ||||
Business Acquisition [Line Items] | ||||
Payments to acquire business | $ 0 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) | Mar. 31, 2024 | Jun. 30, 2023 |
Property, Plant and Equipment [Abstract] | ||
Property and Equipment /Mine Assets | $ 450,000 | $ 450,000 |
Total Property and Equipment | $ 450,000 | $ 450,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 5 Months Ended | 9 Months Ended | 12 Months Ended | 19 Months Ended | ||
Dec. 31, 2022 | Mar. 31, 2024 | Jul. 31, 2025 | Jul. 31, 2024 | Dec. 31, 2024 | Nov. 17, 2022 | |
Themis Glatman [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Note payable related party | $ 18,709 | |||||
Rent expense | 5,000 | |||||
Richard Carey [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Annual base salary | $ 180,000 | $ 270,000 | $ 240,000 | |||
Note payable related party | $ 37,910 | $ 42,000 | ||||
Anthony Anish [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Annual base salary | $ 120,000 | $ 210,000 | $ 180,000 | |||
Expense reimbursement | $ 12,318 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | Nov. 16, 2023 | Jun. 01, 2018 | Mar. 31, 2024 | Jun. 30, 2023 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Common stock to be issued | $ 81,714 | $ 0 | ||
Other notes payable | 155,375 | 127,400 | ||
Kok Chee Lee [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Note payable | 42,651 | 42,651 | ||
Former Secretary Of Board [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Debt face amount | $ 32,000 | |||
Bears interest rate | 5% | |||
Debt maturity date | Dec. 01, 2018 | |||
Accrued interest | 9,362 | $ 6,562 | ||
Third Party [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Debt face amount | $ 85,000 | |||
Bears interest rate | 10% | |||
Debt maturity date | Jan. 31, 2024 | |||
Number of shares issued | 100,000,000 | |||
Common stock to be issued | $ 71,495 |
CONVERTIBLE NOTES AND DERIVAT_3
CONVERTIBLE NOTES AND DERIVATIVE LIABILITY (Details) - USD ($) | 9 Months Ended | ||
Mar. 31, 2024 | Jun. 30, 2023 | ||
Short-Term Debt [Line Items] | |||
Beginning balance | $ 502,006 | ||
Additions | 106,750 | ||
Conversions | (198,868) | ||
Ending balance | 409,888 | ||
Less debt discount | (36,981) | $ (105,354) | |
Convertible notes payable, net | $ 372,907 | $ 396,652 | |
Private Investor [Member] | |||
Short-Term Debt [Line Items] | |||
Date | Mar. 28, 2022 | ||
Maturity date | Jul. 31, 2022 | ||
Interest rate | 14% | ||
Beginning balance | $ 310,000 | ||
Additions | 0 | ||
Conversions | 0 | ||
Ending balance | $ 310,000 | ||
Quick Capital LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Date | Feb. 07, 2023 | ||
Maturity date | Nov. 08, 2023 | ||
Interest rate | 12% | ||
Beginning balance | $ 60,556 | ||
Additions | 14,088 | ||
Conversions | (67,418) | ||
Ending balance | $ 7,226 | ||
AES Capital Management LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Date | Feb. 08, 2023 | ||
Maturity date | Feb. 07, 2024 | ||
Interest rate | 10% | ||
Beginning balance | $ 38,000 | ||
Additions | 0 | ||
Conversions | (38,000) | ||
Ending balance | $ 0 | ||
Rock Bay Partners [Member] | |||
Short-Term Debt [Line Items] | |||
Interest rate | 10% | ||
Beginning balance | $ 35,700 | ||
Additions | 0 | ||
Conversions | (35,700) | ||
Ending balance | $ 0 | ||
Diagonal Lending LLC 1800 [Member] | |||
Short-Term Debt [Line Items] | |||
Date | Jun. 08, 2023 | ||
Maturity date | Mar. 08, 2024 | ||
Interest rate | 9% | ||
Beginning balance | $ 57,750 | ||
Additions | 0 | ||
Conversions | [1] | (57,750) | |
Ending balance | $ 0 | ||
One Diagonal Lending L L C 1800 [Member] | |||
Short-Term Debt [Line Items] | |||
Date | Feb. 05, 2024 | ||
Maturity date | Nov. 15, 2024 | ||
Interest rate | 15% | ||
Beginning balance | $ 0 | ||
Additions | 63,250 | ||
Conversions | 0 | ||
Ending balance | $ 63,250 | ||
Keystone Capital Partners [Member] | |||
Short-Term Debt [Line Items] | |||
Date | Mar. 08, 2024 | ||
Maturity date | Dec. 08, 2024 | ||
Interest rate | 10% | ||
Beginning balance | $ 0 | ||
Additions | 29,412 | ||
Conversions | 0 | ||
Ending balance | $ 29,412 | ||
[1]This note was repaid in cash. |
CONVERTIBLE NOTES AND DERIVAT_4
CONVERTIBLE NOTES AND DERIVATIVE LIABILITY (Details - Derivative liabilities) | 9 Months Ended |
Mar. 31, 2024 USD ($) | |
Convertible Notes And Derivative Liability | |
Derivative liability, Beginning | $ 1,010,145 |
Increase to derivative due to new issuances | 28,444 |
Decrease to derivative due to conversion/repayment | (347,430) |
Derivative loss due to mark to market adjustment | 502,162 |
Derivative liability, Ending | $ 1,193,321 |
CONVERTIBLE NOTES AND DERIVAT_5
CONVERTIBLE NOTES AND DERIVATIVE LIABILITY (Details - Assumptions) | 9 Months Ended |
Mar. 31, 2024 | |
Measurement Input, Share Price [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 0.0054 |
Measurement Input, Share Price [Member] | Initial Valuation [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 0.015 – 0.42 |
Measurement Input, Conversion Price [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 0.0015 – 0.0025 |
Measurement Input, Conversion Price [Member] | Initial Valuation [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 0.015 – 0.2995 |
Measurement Input, Price Volatility [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 250.15% – 294.18% |
Measurement Input, Price Volatility [Member] | Initial Valuation [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 265.91% – 381.28% |
Measurement Input, Risk Free Interest Rate [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 5.4% |
Measurement Input, Risk Free Interest Rate [Member] | Initial Valuation [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 0.59% – 5.12% |
Measurement Input, Discount Rate [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | |
Measurement Input, Discount Rate [Member] | Initial Valuation [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | |
Measurement Input, Maturity [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 0.25 – 0.69 |
Measurement Input, Maturity [Member] | Initial Valuation [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Derivatives determination of fair value | 0.34 – 1 |
CONVERTIBLE NOTES AND DERIVAT_6
CONVERTIBLE NOTES AND DERIVATIVE LIABILITY (Details Narrative) - USD ($) | 9 Months Ended | |||||||||
Feb. 04, 2024 | Apr. 28, 2023 | Feb. 27, 2023 | Feb. 07, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 08, 2024 | Jun. 08, 2023 | Feb. 08, 2023 | Mar. 28, 2022 | |
Debt Instrument [Line Items] | ||||||||||
Repayment of notes payable | $ 0 | $ 27,903 | ||||||||
Convertible Secured Promissory Note [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt face amount | $ 400,000 | |||||||||
Repayment of notes payable | $ 15,000 | |||||||||
Rock Bay Partners [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt face amount | $ 75,000 | |||||||||
Debt converted, amount converted | $ 53,217 | |||||||||
Debt converted, shares issued | 61,104,000 | |||||||||
Quick Capital LLC [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt face amount | $ 60,556 | |||||||||
Interest rate | 12% | |||||||||
Warrants issued, shares | 1,211,111 | |||||||||
Warrant exercise price | $ 0.05 | |||||||||
Warrant term | 5 years | |||||||||
AES Capital Management LLC [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt face amount | $ 38,000 | |||||||||
Interest rate | 10% | |||||||||
Diagonal Lending LLC 1800 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 15% | 9% | ||||||||
Debt payment terms | Note is to be repaid in 9 payments of $8,081.89 (a total payback to the Holder of $72,737). | |||||||||
Keystone Capital Partners [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 10% |
PREFERRED STOCK (Details Narrat
PREFERRED STOCK (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Dec. 31, 2023 | Sep. 30, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Jan. 05, 2024 | Jun. 30, 2023 | Mar. 30, 2022 | |
Class of Stock [Line Items] | |||||||
Preferred stock, shares authorized | 25,000,000 | 25,000,000 | |||||
Preferred stock, par value | $ 0.001 | $ 0.001 | |||||
Preferred stock outstanding | 2,980,000 | 3,048,000 | |||||
Issuance of preferred stock | $ 90,000 | $ 261,200 | |||||
Geneva Roth Remark Holdings [Member] | |||||||
Class of Stock [Line Items] | |||||||
Loss on conversion of stock | $ 165,520 | $ 306,373 | |||||
Number of shares purchased | 11,022 | ||||||
Number of value purchased | $ 14,329 | ||||||
Series A Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | |||||
Preferred stock, par value | $ 0.001 | $ 0.001 | |||||
Preferred stock, shares designated | 1,000,000 | ||||||
Preferred stock outstanding | 1,000,000 | 1,000,000 | |||||
Series B Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock, shares authorized | 1,900,000 | 1,900,000 | |||||
Preferred stock, par value | $ 0.001 | $ 0.001 | |||||
Preferred stock, shares designated | 1,900,000 | ||||||
Preferred stock outstanding | 1,833,000 | 1,833,000 | |||||
Series C Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | |||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 1 | ||||
Preferred stock, shares designated | 1,000,000 | 1,000,000 | |||||
Preferred stock outstanding | 0 | 163,950 | |||||
Series C Preferred Stock [Member] | Geneva Roth Remark Holdings [Member] | |||||||
Class of Stock [Line Items] | |||||||
Conversion of stock, shares converted | 77,790 | 75,138 | 152,928 | ||||
Loss on conversion of stock | $ 140,853 | ||||||
Common Stock [Member] | Geneva Roth Remark Holdings [Member] | |||||||
Class of Stock [Line Items] | |||||||
Conversion of stock, shares issued | 136,597,058 | 53,371,284 | 189,968,342 | ||||
Series D Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | |||||
Preferred stock, par value | $ 0.001 | $ 0.001 | |||||
Preferred stock, shares designated | 1,000,000 | ||||||
Preferred stock outstanding | 146,964 | 0 | |||||
Issuance of preferred stock | $ 90,000 | ||||||
Number of shares purchased | 100,000 | ||||||
Preferred stock issued | 4,000 | ||||||
Preferred stock to be issued | $ 10,000 | ||||||
Stock issued for services, shares | 50,964 | ||||||
Share price | $ 0.81 | ||||||
Stock based compensation | $ 41,524 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||||
Apr. 28, 2023 | Dec. 31, 2023 | Sep. 30, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Jan. 18, 2024 | Nov. 16, 2023 | Jun. 30, 2023 | Feb. 08, 2023 | Feb. 07, 2023 | |
Class of Stock [Line Items] | ||||||||||
Common stock authorized | 950,000 | |||||||||
Issuance of common stock | $ 10,000 | $ 0 | ||||||||
Common stock to be issued | 81,714 | $ 0 | ||||||||
Geneva Roth Remark Holdings [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Loss on conversion of stock | $ 165,520 | 306,373 | ||||||||
Third Party [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Debt face amount | $ 85,000 | |||||||||
Common stock to be issued | $ 71,495 | |||||||||
Series C Preferred Stock [Member] | Geneva Roth Remark Holdings [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Conversion of stock, shares converted | 77,790 | 75,138 | 152,928 | |||||||
Loss on conversion of stock | $ 140,853 | |||||||||
Common Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Issuance of common stock | $ 10,000 | |||||||||
Common Stock [Member] | Geneva Roth Remark Holdings [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Conversion of stock, shares issued | 136,597,058 | 53,371,284 | 189,968,342 | |||||||
Quick Capital LLC [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Debt face amount | $ 60,556 | |||||||||
Quick Capital LLC [Member] | Note Payable [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Conversion of debt, value | $ 67,418 | |||||||||
Conversion of debt, shares | 67,133,595 | |||||||||
AES Capital Management LLC [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Debt face amount | $ 38,000 | |||||||||
AES Capital Management LLC [Member] | Note Payable [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Conversion of debt, value | $ 38,000 | |||||||||
Conversion of debt, shares | 27,553,004 | |||||||||
Rock Bay Partners [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Conversion of debt, shares | 61,104,000 | |||||||||
Debt face amount | $ 75,000 | |||||||||
Rock Bay Partners [Member] | Note Payable [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Conversion of debt, value | $ 36,837 | |||||||||
Conversion of debt, shares | 54,104,000 | |||||||||
Keystone Capital Partners [Member] | Note Payable [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Conversion of debt, value | $ 12,825 | |||||||||
Conversion of debt, shares | 5,000,000 |