Nexien BioPharma (NXEN) 10-K 12 Oct 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Oct. 12, 2021	Dec. 31, 2020
Cover [Abstract]
Entity Registrant Name	NEXIEN BIOPHARMA, INC.
Entity Central Index Key	0001625288
Document Type	10-K
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Public Float			$ 1,660,792
Entity Common Stock, Shares Outstanding		55,772,196
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Current Assets
Cash	$ 18,041	$ 10,786
Prepaid - other	7,500	12,000
Total current assets	25,541	22,786
Total Assets	25,541	22,786
Current Liabilities
Accounts payable and accrued expenses	6,375	17,151
Due to officer	20,000
Convertible note payable - related party, net of discount of $52,059 at June 30, 2021	12,941	12,000
Total current liabilities	39,316	29,151
Commitments and Contingencies
Stockholders' (Deficit)
Preferred stock - $.0001 par value; 10,000,000 authorized; none issued
Common stock - $.0001 par value; 200,000,000 shares authorized; 55,772,196 shares issued and outstanding -June 30, 2021; 53,984,004 shares issued and outstanding -June 30, 2020	5,577	5,398
Additional paid in capital	10,476,004	11,583,159
Stock payable	35,000
Common stock subject to forfeiture	(223,255)	(3,147,763)
Accumulated deficit	(10,307,101)	(8,447,159)
Total Stockholders' Equity (Deficit)	(13,775)	(6,365)
Total Liabilities and Stockholders' (Deficit)	$ 25,541	$ 22,786

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Statement of Financial Position [Abstract]
Debt instrument net of discount	$ 52,059
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	55,772,196	53,984,004
Common stock, shares outstanding	55,772,196	53,984,004

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue
Operating expenses
Professional fees	43,710	50,531
General and administrative	1,800,057	2,495,386
Impairment of license fees		35,000
Management fees-related		90,667
Total operating expenses	1,843,767	2,671,584
Other income (expense)
Interest expense - related	(3,234)	(33)
Amortization of discount on convertible notes	(12,941)
Total other income (expense)	(16,175)	(33)
Net loss	$ (1,859,942)	$ (2,671,617)
Loss per share - basic and diluted	$ (0.03)	$ (0.05)
Weighted average shares outstanding - basic and diluted	55,399,643	53,912,852

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' (Deficit) - USD ($)	Common Stock [Member]	Additional Paid in Capital [Member]	Stock Payable [Member]	Common Stock Subject to Forfeiture [Member]	Accumulated Deficit [Member]	Total
Balance at Jun. 30, 2019	$ 5,351	$ 11,505,819		$ (5,469,708)	$ (5,775,542)	$ 265,920
Balance shares at Jun. 30, 2019	53,510,718
Issuance of stock for accounts payable at $0.09 per share	$ 1	1,499				1,500
Issuance of stock for accounts payable at $0.09 per share, shares	16,667
Issuance of stock for license at $0.09 per share	$ 38	34,962				35,000
Issuance of stock for license at $0.09 per share, shares	381,619
Issuance of stock for services at $0.10 per share	$ 8	7,492				7,500
Issuance of stock for services at $0.10 per share, shares	75,000
Vesting of management shares subject to forfeiture				18,750		18,750
Amortization of CRx shares				2,303,195		2,303,195
Fair value of options and warrants issued for services		33,387				33,387
Net loss					(2,671,617)	(2,671,617)
Balance at Jun. 30, 2020	$ 5,398	11,583,159		(3,147,763)	(8,447,159)	(6,365)
Balance shares at Jun. 30, 2020	53,984,004
Issuance of stock for conversion of related party note payable and interest at $0.014 per share	$ 180	24,981				25,161
Issuance of stock for conversion of related party note payable and interest at $0.014 per share, shares	1,797,192
Issuance of stock for accounts payable at $0.09 per share	$ 15	13,485				13,500
Issuance of stock for accounts payable at $0.09 per share, shares	150,000
Amortization of CRx shares				1,093,668		1,093,668
Issuance of common stock to officers & director	$ 225	271,025				271,250
Issuance of common stock to officers & director, shares	2,250,000
Fair value of options granted		348,953				348,953
Discount on convertible debt		65,000				65,000
Common stock issuable to officers			35,000			35,000
Cancellation of unvested CRx shares	$ (241)	(1,830,599)		1,830,840
Cancellation of unvested CRx shares, shares	(2,409,000)
Net loss					(1,859,942)	(1,859,942)
Balance at Jun. 30, 2021	$ 5,577	$ 10,476,004	$ 35,000	$ (223,255)	$ (10,307,101)	$ (13,775)
Balance shares at Jun. 30, 2021	55,772,196

Consolidated Statements of St_2

Consolidated Statements of Stockholders' (Deficit) (Parenthetical) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
License [Member]
Shares issued price, per share		$ 0.09
Services [Member]
Shares issued price, per share		0.10
Related Party Notes Payable and Interest [Member]
Shares issued price, per share	$ 0.014
Accounts Payable [Member]
Shares issued price, per share	$ 0.09	$ 0.09

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (1,859,942)	$ (2,671,617)
Adjustments to reconcile net loss to net cash used in operating activities
Stock based compensation	348,953	52,137
Fair value of shares issued for CRx Acquisition	1,093,668	2,303,195
Stock issued for services and license fee		42,500
Stock issued to officers and director	271,250
Stock issuable to officers	35,000
Discount on convertible debt	12,941
Management fees - related party		90,667
Changes is assets and liabilities
Decrease in prepaids	4,500	61,647
Increase (decrease) in accounts payable and accrued expenses	2,885	(26,099)
Cash used in operating activities	(90,745)	(147,570)
Cash flows from investing activities
Cash used in investing activities
Cash flows from financing activities
Cash proceeds from convertible note payable - related	78,000	12,000
Advance from officer	20,000
Cash provided by financing activities	98,000	12,000
Net increase in cash and cash equivalents	7,255	(135,570)
Cash and cash equivalents, beginning of period	10,786	146,356
Cash and cash equivalents, end of period	18,041	10,786
Supplemental disclosure of non-cash investing and financing activities
Shares issued for settlement of accounts payable	13,500	1,500
Shares issued for conversion of related party note and interest	$ 25,161

Nature of Business and Basis of

Nature of Business and Basis of Presentation	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	Note 1 – Nature of Business and Basis of Presentation The Company was incorporated on November 10, 1952 in Michigan as Gantos, Inc. On July 21, 2008, the Company completed its change in domicile to Delaware and subsequently changed its name to Kinder Holding Corp. (the “Company”). As of October 13, 2017, the Company completed a reverse acquisition of Intiva BioPharma Inc., a Colorado corporation (“BioPharma”) through an exchange of shares (the “Share Exchange Transaction”). In connection with the Share Exchange Transaction, the Company changed its name to Intiva BioPharma Inc. on November 8, 2017 and, in September 2018, the Company changed its name to Nexien BioPharma, Inc. As further described in Note 3, BioPharma became a wholly-owned subsidiary of the Company. Since this transaction resulted in the existing shareholders of BioPharma acquiring control of the Company, for financial reporting purposes, the business combination has been accounted for as an additional capitalization of the Company (a reverse acquisition with BioPharma as the accounting acquirer). The operations of BioPharma were the only continuing operations of the Company. The accompanying financial statements as of June 30, 2021 and 2020 and for the years then ended present the historical financial information of BioPharma. BioPharma was incorporated under the laws of the State of Colorado on March 27, 2017 to pursue pre-clinical and drug development activities, in accordance with U.S. Food and Drug Administration (“FDA”) protocols, for certain pharmaceutical formulations that include cannabinoids. It is pursuing the formulation and development of drugs containing cannabinoids for the treatment of various diseases, disorders and medical conditions, and owns a license covering certain intellectual property, including certain patent applications, and has filed three of its own provisional patent applications for other drugs that include cannabinoids and other substances, including terpenes, that are intended to be developed with the objective of treating certain medical conditions and disorders. It was formed as a corporate subsidiary of the Colorado corporation Kanativa USA Inc. (“Kanativa USA”), which is a subsidiary of the Ontario, Canada corporation, Kanativa Inc. Principles of Consolidation The accompanying consolidated financial statements include BioPharma and its wholly owned subsidiaries: Intiva BioPharma Inc. (a Colorado corporation), NexN Inc. (“NexN”) and NexDM Inc. (collectively the “Company”), and were prepared from the accounts of the Company in accordance with accounting principles generally accepted in the United States of America (US GAAP). All significant intercompany transactions and balances have been eliminated on consolidation. All share and per share amounts have been adjusted in the footnotes and accompanying financial statements to give effect to the Share Exchange Transaction. (See Note 4).

Going Concern Uncertainty

Going Concern Uncertainty	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern Uncertainty	Note 2 - Going Concern Uncertainty The accompanying financial statements have been prepared in conformity with US GAAP, which contemplates continuation of the Company as a going concern. The Company has not established any source of revenue to cover its operating costs, and as such, has incurred an operating loss since inception of $10,307,101. The development of pharmaceuticals with the objective of obtaining approval by the FDA and other international regulatory authorities is not a short-term endeavor for any specific drug candidate. It also requires extremely significant amounts of capital funding for clinical trials and other matters. At June 30, 2021, the Company had a working capital deficit of $13,775. The Company will require significant additional capital to fund the implementation and execution of its business plan. This capital, which likely will be millions of dollars for a single drug candidate, will be required for research, regulatory applications, and clinical trials. At the present time, the Company does not have any commitments or known sources for this level of funding. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3 – Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates. Cash and Cash Equivalents For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents. There were no cash equivalents at June 30, 2021 and 2020. Valuation of Long-Lived Assets The Company reviews the recoverability of its long-lived assets including equipment, goodwill and other intangible assets, when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on the Company’s ability to recover the carrying value of the asset from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. The Company’s primary measure of fair value is based on discounted cash flows. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations. Fair Value of Financial Instruments FASB ASC 825, “Financial Instruments,” requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. FASB ASC 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. At June 30, 2020 and 2019, the carrying value of certain financial instruments (cash and cash equivalents, accounts payable and accrued expenses.) approximates fair value due to the short-term nature of the instruments or interest rates, which are comparable with current rates. Fair Value Measurements The Company measures fair value under a framework that utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs which prioritize the inputs used in measuring fair value are: Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2: Inputs to the valuation methodology include: ● Quoted prices for similar assets or liabilities in active markets; ● Quoted prices for identical or similar assets or liabilities in inactive markets; ● Inputs other than quoted prices that are observable for the asset or liability; ● Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The assets or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. When the Company changes its valuation inputs for measuring financial assets and liabilities at fair value, either due to changes in current market conditions or other factors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new inputs used. The Company recognizes these transfers at the end of the reporting period that the transfers occur. For the periods ended June 30, 2021 and 2020, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels. As of June 30, 2021, no assets or liabilities were required to be measured at fair value on a recurring basis. Earnings per Common Share The Company computes net income (loss) per share in accordance with ASC 260, Earning per Share. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. Income Taxes The Company has adopted ASC 740, Accounting for Income Taxes. Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years. Certain estimates and judgments must be made in determining income tax expense for financial statement purposes. These estimates and judgments occur in the calculation of certain tax assets and liabilities, which arise from differences in the timing of recognition of revenue and expense for tax and financial statement purposes. Deferred tax assets and liabilities are determined based on the differences between financial reporting and the tax basis of assets and liabilities using the tax rates and laws in effect when the differences are expected to reverse. ASC 740 provides for the recognition of deferred tax assets if realization of such assets is more likely than not to occur. Realization of the Company’s net deferred tax assets is dependent upon generating sufficient taxable income in future years in appropriate tax jurisdictions to realize benefit from the reversal of temporary differences and from net operating loss, or NOL, carryforwards. Management has determined it more likely than not that these timing differences will not materialize and has provided a valuation allowance against substantially all the Company’s net deferred tax assets. Management will continue to evaluate the realization of the deferred tax assets and its related valuation allowance. If assessment of the deferred tax assets or the corresponding valuation allowance were to change, the Company would record the related adjustment to income during the period in which the determination is made. In addition, the calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax regulations. Liabilities for anticipated tax audit issues in the U.S. are recognized based on the estimate of whether, and to the extent to which, additional taxes will be due. If it is ultimately determined that payment of these amounts is unnecessary, the liability will be reversed and a tax benefit will be recognized during the period in which it is determined that the liability is no longer necessary. The Company will record an additional charge to the provision for taxes in the period in which it is determined that the recorded tax liability is less than the Company expects the ultimate assessment to be. ASC 740 which requires recognition of estimated income taxes payable or refundable on income tax returns for the current year and for the estimated future tax effect attributable to temporary differences and carry-forwards. Measurement of deferred income tax is based on enacted tax laws including tax rates, with the measurement of deferred income tax assets being reduced by available tax benefits not expected to be realized. Revenue Recognition The Company has adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. There was no impact on the Company’s financial statements as a result of adopting Topic 606 for years ended June 30, 2021 and 2020. Research and Development Expenses Research and development expenses are charged to operations as incurred. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. Cash and cash equivalents are deposited with major banks in the United States of America. Management believes that such financial institutions are financially sound and, accordingly, minimal credit risk exists with respect to these financial instruments. The Company does not have any significant off-balance-sheet concentration of credit risk. Stock-based compensation Pursuant to FASB ASC 718, all share-based payments to employees, including grants of employee stock options, are recognized in the statement of operations based on their fair values. Issuance of shares for non-cash consideration The Company accounts for the issuance of equity instruments to acquire goods and/or services based on the fair value of the goods and services or the fair value of the equity instrument at the time of issuance, whichever is more reliably determinable. The Company’s accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows the provisions of the standards issued by the FASB. The measurement date for the fair value of the equity instruments issued is determined as the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. Reclassifications Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation. Recent Accounting Pronouncements Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations. Management has evaluated accounting standards and interpretations issued but not yet effective as of June 30, 2021 and does not expect such pronouncements to have a material impact on the Company’s financial position, operations, or cash flows.

Share Exchange Agreement

Share Exchange Agreement	12 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Share Exchange Agreement	Note 4 – Share Exchange Agreement On August 8, 2017, the Company entered into a Share Exchange Agreement, as amended and restated on October 13, 2017, (the “Agreement”), with BioPharma. Pursuant to the terms of the Agreement, the Company agreed to issue to the shareholders of BioPharma 42,642,712 post-reverse stock-split shares of the Company’s common stock, par value $0.0001 (“Common Stock”), in exchange for all of the issued and outstanding shares of BioPharma capital stock, thereby making BioPharma a wholly-owned subsidiary of the Company. As part of the Closing of the Agreement, the 20,000,000 pre-reverse split shares of the Company’s Common Stock previously purchased by Kanativa USA, effective on June 26, 2017 in a change in control transaction from the Company’s control shareholders, were canceled. Since this transaction resulted in the existing shareholders of BioPharma acquiring control of the Company, for financial reporting purposes, the business combination has been accounted for as an additional capitalization of the Company (a reverse acquisition with BioPharma as the accounting acquirer).

License Agreements

License Agreements	12 Months Ended
	Jun. 30, 2021
License Agreements
License Agreements	Note 5 – License Agreements Kotzker License Agreement In March 2017, the Company licensed certain intellectual property from Kotzker Consulting LLC (“Kotzker Consulting”), an unrelated entity. The licensed intellectual property includes patent applications relating to the use of cannabinoid receptor modulators and terpenes in the acute treatment during exposure to organophosphorus nerve agents and/or organophosphorus insecticides. Under terms of the agreement, the Company shall use its commercially reasonable efforts to develop and commercialize the licensed products, and, in particular, will be responsible for the design, manufacturing, preclinical, clinical, and regulatory development activities of the licensed products and shall bear the costs of such activities. As consideration for entering into the agreement, the Company agreed to: (i) pay Kotzker Consulting $180,000, (ii) pay patent prosecution costs incurred as of the date of the agreement of $15,000 and (iii) issue to Kotzker Consulting 31,550 shares of Kanativa Inc.’s common stock valued at $78,875 ($2.50 per share based on recent private placement to third parties of Kanativa Inc.’s common stock). The Company has also capitalized legal fees of $29,040 incurred in conjunction with acquiring the license agreement. The license agreement terminates, on a country by country basis, upon the expiration of the licensed patent for the licensed intellectual property, or when a competitor generic product utilizing the licensed technology is marketed in the particular country. In September 2017, the Company entered into a contract with a contract manufacturing organization to develop an injectable formulation of a drug product to be submitted to the FDA. It is anticipated that the product will be developed utilizing the new drug application 505(b) (2) regulatory pathway for use in the treatment during and immediately following exposure to organophosphorous nerve agents. The drug product is to consist of a synthetic cannabinoid and a blend of terpenes in an injectable vehicle. The Company has estimated that it may not be able to recover the $302,915 carrying value of costs capitalized under the Kotzker License Agreement and, in December 2020, the Company elected to terminate this agreement, assigned the licensed intellectual property back to Kotzker and issued 150,000 restricted shares of common stock, valued at $13,500 ($0.09 per share) as a final payment for consulting fees owed. Accu-Break License Agreement On February 28, 2018, the Company obtained a worldwide exclusive license with respect to a proprietary delivery system for cannabinoid-based medications from Accu-Break Pharmaceuticals Inc (Accu-Break). Upon execution of the agreement, as amended September 18, 2018, $35,000 was paid to the licensor; an additional $30,000 was paid in cash during the year ended June 30, 2019; and a final payment of $35,000 was paid in common stock of the Company during the year ended June 30, 2020. The Company is required to pay milestone payments upon obtaining regulatory approval of pharmaceutical licensed products and royalties based upon sales of licensed products. The Company may grant sublicenses under the terms of the agreement. The Company has estimated that it may not be able to recover the $65,000 of costs capitalized under the Accu-Break License Agreement, and has recognized an impairment of $65,000 at June 30, 2019. The $35,000 value of common stock issued in the year ended June 30, 2020 was charged to operations. Although the Company has recognized an impairment under Generally Accepted Accounting Principles, it retains its rights under both of these license agreements.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Stockholders' Equity	Note 6 - Stockholders’ Equity Common stock During the year ended June 30, 2021, the Company issued shares of its common stock as follows: ● 1,000,000 shares to each of the Company’s Chief Executive Officer and Chief Financial Officer as consideration for their services to the Company. ● 250,000 shares to the independent member of the Board of Directors for services rendered. The shares were valued at $0.09 per share, the closing trading price of the Company’s common stock as of the date of issuance. ● 1,797,192 shares, at $0.014 per share, to its CEO for conversion of a note payable in the principal amount of $25,000 and accrued interest of $161. ● 150,000 shares valued at $13,500, $0.09 per share, as consideration for consulting services under the Kotzker License Agreement (Note 5). In May 2021, the Board of Directors authorized the issuance of a total of 2,500,000 shares of common stock of the Company to each of its Chief Executive Officer and Chief Financial Officer, with 250,000 of such shares to be issued to each of them every quarter beginning July 1, 2021 and continuing every three months through October 1, 2023, it being the intent of the Board that the issuance of these shares represents compensation for services rendered for the then completed calendar quarter (See Note 8). During the year ended June 30, 2020 the Company issued 473,286 shares of its common stock as follows: ● 16,667 shares, valued at $1,500 ($0.09 per share), as consideration for consulting services rendered. ● 75,000 shares, valued at $7,500 ($0.10 per share), as partial consideration for entering into an investor relations contract. ● 381,619 shares, valued at $35,000 ($0.092 per share), for final payment on the license agreement with respect to a proprietary delivery system for cannabinoid-based medications (See Note 5). CRX Limited Liability Company Interest Purchase Agreement On October 26, 2018, Company entered into a Limited Liability Company Interest Purchase Agreement (the “Purchase Agreement”) with the members of CRx Bio Holdings LLC, a Delaware limited liability company (“CRx”), to acquire all of the membership interest in CRx in exchange for 11,000,000 restricted shares of the Company’s common stock (the “Acquisition”), valued at $0.76 per share. The transaction has been accounted for as an asset acquisition, and not a business combination, and has been valued at the fair value of the common stock issued by the Company, as CRx’s cost basis was $0 in the assets. CRx was engaged in the research and development of advanced cannabinoid formulations and drug delivery systems with a focus on bioavailability and related pharmacokinetics and pharmacodynamics (PK/PD) enhancement. The Acquisition transaction was consummated on October 26, 2018. By acquiring CRx as a wholly-owned subsidiary, the Company acquired all of its assets, which consist primarily of three U.S. provisional patent applications relating to cannabinoid formulations to treat convulsive disorders, chronic traumatic encephalopathy, and neuropathic pain. At the closing, the Company issued to the six members of CRx (the “ Sellers The transaction was valued at $8,360,000, based on the fair value of the 11,000,000 shares issued of $0.76 per share, as per the closing market price of the Company’s common stock on the date of the agreement. The $836,000 fair value of the 1,100,000 shares issued not subject to any forfeiture restrictions was charged to operations during the six months ended December 31, 2018. The $7,524,000 fair value of the 9,900,000 shares subject to forfeiture was charged to stockholders’ equity as a contra equity account, and was being amortized over the vesting periods. The net amount charged to stockholder’s equity was $0 on the date of the acquisition. Effective December 31, 2018, one of the Sellers resigned from the Company and forfeited 1,732,500 unvested shares previously issued. In May 2019, that Seller returned to the Company an additional 142,500 vested shares issued in accordance with the Purchase Agreement. The fair value of the returned shares was credited to the operations as of June 30, 2019. In March 2021, four of the Sellers terminated their relationships with the Company and forfeited their remaining 2,409,000 unvested shares, valued at the original issuance price of $1,830,840 ($0.76 per share). As at June 30, 2021 and June 30, 2020, an aggregate $4,880,904 and $3,787,237, respectively, was charged to operations for the value of vested shares issued and the amortization of the unvested CRX shares. 2017 Stock Incentive Plan On August 10, 2017, the Company adopted the “2017 Stock Incentive Plan” and granted an aggregate of 6,400,000 shares of Common Stock to five officers and directors of the Company, valued at $800,000 ($0.125 per share). In March 2018, 1,166,667 unvested shares (valued at $145,833) previously issued to the Company’s former Chief Executive Officer were canceled. On July 25, 2018, the Company accelerated the vesting of 1,083,342 unvested shares of Common Stock previously granted to its former Chief Executive Officer and Chief Financial Officer. As of June 30, 2020, all 5,233,333 shares issued (valued at $654,167) have been vested, of which 150,000 shares, valued at $18,750, were vested during the year ended June 30, 2020. 2018 Equity Incentive Plan (i) On March 30, 2018, the Company’s board of directors approved and recommended for adoption by the stockholders of the Company a 2018 Equity Incentive Plan and has reserved 8,000,000 shares of Common Stock for issuance under the terms of that Plan. In July 2018, the Board of Directors granted options to purchase a total of 1,810,000 shares of Common Stock, exercisable for a period of seven years, to officers/directors/consultants of the Company at an exercise price of $0.54 per share. In August 2018, the Board of Directors granted options to purchase a total of 150,000 shares of Common Stock, exercisable for a period of seven years, to two individuals, (i) a director and (ii) a consultant of the Company, at an exercise price of $0.38 per share. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan: Average risk-free interest rates 2.3% - 2.8% Average expected life (in years) 4.0 to 7.0 Volatility 160% to 296% The fair value of the options granted at June 30, 2020 is $867,715, including $33,307 for the fair value of options vested in 2020. All options granted have been fully vested as of June 30, 2020. (ii) On October 17, 2018, the Board of Directors granted options to purchase an aggregate 800,000 shares of Common Stock, exercisable for a period of seven years, to officers/directors of the Company at an exercise price of $0.655 per share and confirmed a grant of options made as of October 1, 2018, to purchase 500,000 shares of Common Stock, exercisable for a period of seven years, to an officer and director of the Company at an exercise price $0.48. All of the options were fully vested as of the date of grant The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan: Average risk-free interest rates 2.88% - 2.93% Average expected life (in years) 4.0 Volatility 171% to 172% (iii) On August 19, 2020, the Board of Directors authorized the issuance of an aggregate 5,000,000 options to three officers of the Company, exercisable at $0.08 per share for a seven-year period from the date of grant. As of the date of grant, 3,333,334 options were fully vested and the balance of 1,666,666 options will vest quarterly over the next four calendar quarters beginning September 30, 2020. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan: Average risk-free interest rates .23% Average expected life (in years) 4.0 Volatility 152% The fair value of the vested options granted of $348,953 was charged to operations during the year ended June 30, 2021. As of June 30, 2021, all options granted were fully vested. A summary of option activity during the year ended June 30, 2021 is presented below: Shares Weighted Weighted Outstanding and exercisable – June 30, 2020 2,995,000 $ 0.55 Granted 5,000,000 $ 0.08 Exercised - Expired/Canceled - Outstanding and exercisable – June 30, 2021 7,995,000 $ 0.26 4.5 Warrants On November 24, 2020, the Company issued warrants for the acquisition of common shares as partial consideration for the issuance of convertible notes (Note 7). The following table summarizes information about warrants outstanding at June 30, 2021: Number Exercise Price Expires Class A 1,727,299 $ 0.040265 November 24, 2025 Class B 1,727,299 $ 0.043276 November 24, 2025 Class C 1,727,299 $ 0.045157 November 24, 2025 The fair value of the warrants granted is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan: Average risk-free interest rates .39% Average expected life (in years) 2.5 Volatility 153% A summary of warrant activity during the year ended June 30, 2021 is presented below: Shares Weighted Weighted Outstanding and exercisable – June 30, 2020 - Granted 5,181,897 $ 0.0429 Exercised - Expired/Canceled - Outstanding and exercisable – June 30, 2021 5,181,897 $ 0.0429 4.4

Convertible Notes Payable -Rela

Convertible Notes Payable -Related	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Convertible Notes Payable -Related	Note 7 – Convertible Notes Payable -Related On June 11, 2020, the Company entered into a financing arrangement with its CEO under which he agreed to lend the Company up to $25,000. The note bears interest at 5% per annum and is due upon demand. At the option of the lender, the unpaid principal and interest may be converted, in whole or in part, into shares of the Company’s common stock at the lesser of (i) $0.014, being the closing price of the Company’s common stock as of the date of the note, or (ii) the volume-weighted average price (VWAP) of the Company’s common stock over the ten trading days immediately preceding the Company’s receipt of Notice of Conversion from the lender. As the market price of the Company’s common stock and the VWAP were the same as of the date of the note, no discount for beneficial conversion feature has been recorded. As of June 30, 2020, the lender had advanced $12,000 under the arrangement; and accrued interest of $33 is included in accounts payable and accrued expenses at June 30, 2020. On July 10, 2020, the Company’s CEO loaned the Company an additional $13,000 pursuant to the financing arrangement. On August 12, 2020, the CEO sent notice to the Company that he was electing to convert the outstanding principal of $25,000 and accrued interest of $161 to 1,797,192 shares of common stock at the contractual conversion price of $0.014 per share. No gain or loss was recognized on conversion as the conversion was made under the terms of the note agreement. On November 24, 2020, the Company entered into financing agreements with two individuals, its CEO and a shareholder. Under the agreements, the Company issued unsecured convertible promissory notes due in three years (November 24, 2023) with accrued interest at the rate of 8% per annum, compounded annually. The notes and accrued interest are convertible at the option of the holders at any time into restricted shares of the Company’s common stock at a price of $0.037631, being the volume-weighted average price of the common stock over the 10 trading days immediately preceding the date the notes were funded. The CEO was issued a note in the principal amount of $40,000, which included a $15,000 advance made in October 2020 and an additional loan of $25,000. A stockholder of the Company loaned $25,000 on these same terms. Both lenders were also issued three types of warrants, exercisable for a five-year period, at prices of $0.040265, $0.043276, and $0.045157, to purchase a total of 5,181,897 shares (Note 6). The Company has recorded the conversion feature as a Beneficial Conversion Feature. The fair value of $65,000 for the expense portion of the notes is being amortized over the term of the notes. As the warrants exceeded the value of the notes themselves, the discount is the entire amount of the notes. This fair value has been determined based on the current trading prices of the Company’s common stock. Management has determined that this treatment is appropriate given the uncertain nature of the value of the Company and its stock, and there will be no revaluations until the note is paid or redeemed for stock. The note holders have agreed not to convert the loans unless sufficient shares of common stock are available for conversion. During the year ended June 30, 2021, $12,941 was charged to operations for amortization during the period of the Beneficial Conversion Feature.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 8– Related Party Transactions In June 2021, the Company’s Chief Executive Officer advanced $20,000 to the Company for working capital and operating purposes. The advance is non-interest bearing and is repayable on demand. During the year ended June 30, 2021, the Board of Directors authorized the issuance of a total of 2,500,000 shares of common stock of the Company to each of its Chief Executive Officer and Chief Financial Officer, with 250,000 of such shares to be issued to each of them every quarter beginning July 1, 2021 and continuing every three months through October 1, 2023. At June 30, 2021, the Company has recorded as a component of stockholders’ equity the $35,000 fair value of the 250,000 shares to be issued each quarter to each of the individuals effective July 1, 2021. The Board of Directors also authorized the issuance of 250,00 shares to its independent member. These shares were valued at $22,500 ($0.09 per share), based on the closing trading price of the Company’s common stock as of the date of issuance. As discussed in Note 7, in November 2020, the Company entered into convertible debt financing agreements with two individuals, its CEO and a shareholder, for aggregate borrowings of $65,000. BioPharma was formed as a subsidiary of Kanativa USA, which is a subsidiary of Kanativa Inc. Kanativa USA was issued 24,000,000 shares of BioPharma’s common stock as consideration for its contribution of 100% of the ownership of NexN, and costs and expenses incurred on behalf of BioPharma and capitalized license agreement costs comprised of (i) the value of Kanativa Inc. common stock issued to Kotzker Consulting of $78,875 and (ii) payments to Kotzker Consulting and legal costs in the aggregate of NexN in the amount of $201,228. Included in the consideration for the issuance of the common stock is $172,915 of $94,040 (See Note 5). At June 30, 2017, BioPharma was owed $141,329 from Kanativa USA for advances made by BioPharma on behalf of Kanativa USA in conjunction with the Share Exchange Agreement (See Note 3). As of June 30, 2020, an aggregate $50,662 was repaid by Kanativa USA, including $15,000 and $9,000 during the years ended June 30, 2019 and June 30, 2020, respectively. The remaining balance of $90,667 was due on March 1, 2020. On May 1, 2020, BioPharma and Kanativa USA entered into an agreement extending the due date for payment of the remaining balance to June 30, 2020. Effective June 30, 2020, Kanativa USA determined that it would be unable to pay the remaining balance of the advance. Accordingly, the Company wrote-off the remaining balance of $90,667 as a charge to operations during the period ended June 30, 2020. On August 10, 2017, the Company granted an aggregate of 6,400,000 shares of Common Stock to five officers and directors of the Company, valued at $800,000 ($0.125 per share), under the Company’s 2017 Stock Incentive Plan. One-third of each grant vested as of the initial date of grant (August 10, 2017), and 8-1/3% upon the end of each calendar quarter beginning December 31, 2017. In March 2018, the Company cancelled 1,166,667 unvested shares previously issued to its former CEO. As of June 30, 2020, all granted shares, valued at $654,167, were fully vested. The members of the Company’s Board of Directors, its Chief Executive Office and its Chief Financial Officer are also directors and officers of Kanativa Inc., and other subsidiaries and affiliated entities of Kanativa Inc.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 9 – Income Taxes The Company accounts for income taxes in accordance with standards of disclosure propounded by the FASB, and any related interpretations of those standards sanctioned by the FASB. Accordingly, deferred tax assets and liabilities are determined based on differences between the financial statement and tax bases of assets and liabilities, as well as a consideration of net operating loss and credit carry forwards, using enacted tax rates in effect for the period in which the differences are expected to impact taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized. On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the Tax Act) was enacted into law and the new legislation contains several key tax provisions that affected us, including a reduction of the corporate income tax rate to 21% effective January 1, 2018. No provision for income taxes has been recorded due to the net operating loss carryforwards totaling approximately $2,818,000 as of June 30, 2021 that will be offset against future taxable income. The available net operating loss carry forwards expire in various years through 2041. No tax benefit has been reported in the financial statements because the Company believes there is a 50% or greater chance the carry forwards will expire unused. There were no uncertain tax positions taken by the Company. The deferred tax asset and valuation account is as follows at June 30: 2021 2020 Deferred tax asset Net operating loss carryforward (at combined 24% statutory rate of 21% Federal and 3% State) $ 677,977 $ 564,973 Valuation allowance (677,977 ) (564,973 ) Total $ - $ - The components of income tax expense are as follows for the years ended June 30: 2021 2020 Change in net operating loss benefit $ (113,004 ) $ (94,745 ) Change in valuation allowance 113,004 94,745 Total $ - $ -

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 10- Commitments and Contingencies At June 30, 2021, there were no legal proceedings against the Company.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 11 – Subsequent Events In October 2021, the Company’s Chief Executive Officer advanced $10,000 to the Company for working capital and operating purposes. The advance is non-interest bearing and is repayable on demand. The Company has analyzed its operations subsequent June 30, 2021 through the date these financial statements were issued, and has determined that it does not have any additional material subsequent events to disclose.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
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 reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents For financial statement presentation purposes, the Company considers those short-term, highly liquid investments with original maturities of three months or less to be cash or cash equivalents. There were no cash equivalents at June 30, 2021 and 2020.
Valuation of Long-Lived Assets	Valuation of Long-Lived Assets The Company reviews the recoverability of its long-lived assets including equipment, goodwill and other intangible assets, when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on the Company’s ability to recover the carrying value of the asset from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset, an impairment loss is recognized for the difference between estimated fair value and carrying value. The Company’s primary measure of fair value is based on discounted cash flows. The measurement of impairment requires management to make estimates of these cash flows related to long-lived assets, as well as other fair value determinations.
Fair Value of Financial Instruments	Fair Value of Financial Instruments FASB ASC 825, “Financial Instruments,” requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. FASB ASC 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. At June 30, 2020 and 2019, the carrying value of certain financial instruments (cash and cash equivalents, accounts payable and accrued expenses.) approximates fair value due to the short-term nature of the instruments or interest rates, which are comparable with current rates.
Fair Value Measurements	Fair Value Measurements The Company measures fair value under a framework that utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of inputs which prioritize the inputs used in measuring fair value are: Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2: Inputs to the valuation methodology include: ● Quoted prices for similar assets or liabilities in active markets; ● Quoted prices for identical or similar assets or liabilities in inactive markets; ● Inputs other than quoted prices that are observable for the asset or liability; ● Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The assets or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. When the Company changes its valuation inputs for measuring financial assets and liabilities at fair value, either due to changes in current market conditions or other factors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new inputs used. The Company recognizes these transfers at the end of the reporting period that the transfers occur. For the periods ended June 30, 2021 and 2020, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels. As of June 30, 2021, no assets or liabilities were required to be measured at fair value on a recurring basis.
Earnings Per Common Share	Earnings per Common Share The Company computes net income (loss) per share in accordance with ASC 260, Earning per Share. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.
Income Taxes	Income Taxes The Company has adopted ASC 740, Accounting for Income Taxes. Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years. Certain estimates and judgments must be made in determining income tax expense for financial statement purposes. These estimates and judgments occur in the calculation of certain tax assets and liabilities, which arise from differences in the timing of recognition of revenue and expense for tax and financial statement purposes. Deferred tax assets and liabilities are determined based on the differences between financial reporting and the tax basis of assets and liabilities using the tax rates and laws in effect when the differences are expected to reverse. ASC 740 provides for the recognition of deferred tax assets if realization of such assets is more likely than not to occur. Realization of the Company’s net deferred tax assets is dependent upon generating sufficient taxable income in future years in appropriate tax jurisdictions to realize benefit from the reversal of temporary differences and from net operating loss, or NOL, carryforwards. Management has determined it more likely than not that these timing differences will not materialize and has provided a valuation allowance against substantially all the Company’s net deferred tax assets. Management will continue to evaluate the realization of the deferred tax assets and its related valuation allowance. If assessment of the deferred tax assets or the corresponding valuation allowance were to change, the Company would record the related adjustment to income during the period in which the determination is made. In addition, the calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax regulations. Liabilities for anticipated tax audit issues in the U.S. are recognized based on the estimate of whether, and to the extent to which, additional taxes will be due. If it is ultimately determined that payment of these amounts is unnecessary, the liability will be reversed and a tax benefit will be recognized during the period in which it is determined that the liability is no longer necessary. The Company will record an additional charge to the provision for taxes in the period in which it is determined that the recorded tax liability is less than the Company expects the ultimate assessment to be. ASC 740 which requires recognition of estimated income taxes payable or refundable on income tax returns for the current year and for the estimated future tax effect attributable to temporary differences and carry-forwards. Measurement of deferred income tax is based on enacted tax laws including tax rates, with the measurement of deferred income tax assets being reduced by available tax benefits not expected to be realized.
Revenue Recognition	Revenue Recognition The Company has adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. There was no impact on the Company’s financial statements as a result of adopting Topic 606 for years ended June 30, 2021 and 2020.
Research and Development Expenses	Research and Development Expenses Research and development expenses are charged to operations as incurred.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. Cash and cash equivalents are deposited with major banks in the United States of America. Management believes that such financial institutions are financially sound and, accordingly, minimal credit risk exists with respect to these financial instruments. The Company does not have any significant off-balance-sheet concentration of credit risk.
Stock-based Compensation	Stock-based compensation Pursuant to FASB ASC 718, all share-based payments to employees, including grants of employee stock options, are recognized in the statement of operations based on their fair values.
Issuance of Shares for Non-cash Consideration	Issuance of shares for non-cash consideration The Company accounts for the issuance of equity instruments to acquire goods and/or services based on the fair value of the goods and services or the fair value of the equity instrument at the time of issuance, whichever is more reliably determinable. The Company’s accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services follows the provisions of the standards issued by the FASB. The measurement date for the fair value of the equity instruments issued is determined as the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement.
Reclassifications	Reclassifications Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year periods presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Although there are several other new accounting pronouncements issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations. Management has evaluated accounting standards and interpretations issued but not yet effective as of June 30, 2021 and does not expect such pronouncements to have a material impact on the Company’s financial position, operations, or cash flows.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2021
Schedule of Stock Option Activity	A summary of option activity during the year ended June 30, 2021 is presented below: Shares Weighted Weighted Outstanding and exercisable – June 30, 2020 2,995,000 $ 0.55 Granted 5,000,000 $ 0.08 Exercised - Expired/Canceled - Outstanding and exercisable – June 30, 2021 7,995,000 $ 0.26 4.5
Schedule of Warrants Outstanding	The following table summarizes information about warrants outstanding at June 30, 2021: Number Exercise Price Expires Class A 1,727,299 $ 0.040265 November 24, 2025 Class B 1,727,299 $ 0.043276 November 24, 2025 Class C 1,727,299 $ 0.045157 November 24, 2025
Schedule of Fair Value of Warrants Assumptions	The fair value of the warrants granted is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan: Average risk-free interest rates .39% Average expected life (in years) 2.5 Volatility 153%
Summary of Warrant Activity	A summary of warrant activity during the year ended June 30, 2021 is presented below: Shares Weighted Weighted Outstanding and exercisable – June 30, 2020 - Granted 5,181,897 $ 0.0429 Exercised - Expired/Canceled - Outstanding and exercisable – June 30, 2021 5,181,897 $ 0.0429 4.4
2018 Equity Incentive Plan [Member]
Schedule of Fair Value of Stock Options Assumptions	The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan: Average risk-free interest rates 2.3% - 2.8% Average expected life (in years) 4.0 to 7.0 Volatility 160% to 296% The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan: Average risk-free interest rates 2.88% - 2.93% Average expected life (in years) 4.0 Volatility 171% to 172% The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions used for grants under the fixed option plan: Average risk-free interest rates .23% Average expected life (in years) 4.0 Volatility 152%

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Asset and Valuation Account	The deferred tax asset and valuation account is as follows at June 30: 2021 2020 Deferred tax asset Net operating loss carryforward (at combined 24% statutory rate of 21% Federal and 3% State) $ 677,977 $ 564,973 Valuation allowance (677,977 ) (564,973 ) Total $ - $ -
Schedule of Income Tax Expense	The components of income tax expense are as follows for the years ended June 30: 2021 2020 Change in net operating loss benefit $ (113,004 ) $ (94,745 ) Change in valuation allowance 113,004 94,745 Total $ - $ -

Going Concern Uncertainty (Deta

Going Concern Uncertainty (Details Narrative)	12 Months Ended
	Jun. 30, 2021USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating loss	$ 10,307,101
Working capital	$ 13,775

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Accounting Policies [Abstract]
Cash equivalents

Share Exchange Agreement (Detai

Share Exchange Agreement (Details Narrative) - $ / shares	Aug. 08, 2017	Jun. 30, 2021	Jun. 30, 2020
Common stock par value		$ 0.0001	$ 0.0001
Share Exchange Agreement [Member] | Post-Reverse Stock-Split [Member]
Reverse stock-split shares	42,642,712
Common stock par value	$ 0.0001
Share Exchange Agreement [Member] | Pre-Reverse Split [Member]
Reverse stock-split shares	20,000,000

License Agreements (Details Nar

License Agreements (Details Narrative) - USD ($)	Sep. 18, 2018	Dec. 31, 2020	Mar. 31, 2017	Jun. 30, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Number of common stock shares issued						473,286
Kotzker Consulting LLC [Member]
Due to related party			$ 180,000
Payment of patent prosecution costs			$ 15,000
Number of common stock shares issued			31,550
Value of common stock shares			$ 78,875
Shares issued price per share		$ 0.09	$ 2.50
Restricted shares of common stock issued, shares		150,000
Restricted shares of common stock issued		$ 13,500
Kotzker Consulting LLC [Member] | License Agreement [Member]
Shares issued price per share					$ 0.09
Capitalized legal fees			$ 29,040
Capitalized cost of intangible assets					$ 302,915
Accu-Break Pharmaceuticals, Inc. [Member]
Payment to license	$ 35,000			$ 30,000		$ 35,000
Accu-Break Pharmaceuticals, Inc. [Member] | License Agreement [Member]
Value of common stock shares						$ 35,000
Capitalized cost of intangible assets							$ 65,000
Impairment of licenses							$ 65,000

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)

Oct. 26, 2018

Oct. 17, 2018

Oct. 02, 2018

Aug. 19, 2018

Aug. 10, 2017

Mar. 31, 2021

May 31, 2019

Aug. 31, 2018

Jul. 31, 2018

Mar. 31, 2018

Mar. 31, 2017

Dec. 31, 2018

Jun. 30, 2021

Jun. 30, 2020

Dec. 31, 2020

Jun. 30, 2019

Jul. 25, 2018

Mar. 30, 2018

Number of common stock shares issued

473,286

Value of common stock shares issued for services

$ 7,500

Stock issued description

The Board of Directors authorized the issuance of a total of 2,500,000 shares of common stock of the Company to each of its Chief Executive Officer and Chief Financial Officer, with 250,000 of such shares to be issued to each of them every quarter beginning July 1, 2021 and continuing every three months through October 1, 2023, it being the intent of the Board that the issuance of these shares represents compensation for services rendered for the then completed calendar quarter (See Note 8).

Share based compensation stock options, vested

5,233,333

Fair value of stock option, vested

$ 654,167

Stockholder's equity

$ (13,775)

$ (6,365)

$ 265,920

Number of options issued

5,000,000

2017 Stock Incentive Plan [Member]

Share based compensation stock options, vested

150,000

Fair value of stock option, vested

$ 18,750

2018 Equity Incentive Plan [Member]

Share based compensation stock options, vested

1,666,666

Fair value of stock option, vested

33,307

Common stock reserved for issuance

8,000,000

Value of options granted

867,715

CRX Limited Liability Company [Member]

Stock price per share

$ 0.76

Unvested forfeited, shares

2,409,000

Unvested forfeited, amount

$ 1,830,840

Value of vested shares issued and amortization of unvested shares

$ 4,880,904

$ 3,787,237

Consulting Services [Member]

Number of common stock shares issued for services

16,667

Stock price per share

$ 0.09

Value of common stock shares issued for services

$ 1,500

License Agreement [Member] | For Final Payment [Member]

Number of common stock shares issued

381,619

Stock price per share

$ 0.092

Value of common stock shares

$ 35,000

Investors Relations Contract [Member] | As Partial Consideration [Member]

Number of common stock shares issued

75,000

Stock price per share

$ 0.10

Value of common stock shares

$ 7,500

Interest Purchase Agreement [Member] | CRX Limited Liability Company [Member]

Stock price per share

$ 0.76

$ 0.76

Number of common stock restricted shares

11,000,000

11,000,000

Number of common stock restricted shares forfeited

1,100,000

1,100,000

Fair value of common stock issued for asses acquisition

$ 0

Share based compensation stock options, vested

9,900,000

9,900,000

Fair value of stock issued for acquisition

$ 8,360,000

Fair value of shares issued

$ 836,000

Fair value of stock option, vested

$ 7,524,000

Unvested forfeited, shares

1,732,500

Stockholder's equity

$ 0

Purchase Agreement [Member]

Share based compensation stock options, vested

142,500

Kotzker Consulting LLC [Member]

Number of common stock shares issued

31,550

Stock price per share

$ 2.50

$ 0.09

Value of common stock shares

$ 78,875

Kotzker Consulting LLC [Member] | License Agreement [Member]

Number of common stock shares issued for services

150,000

Stock price per share

$ 0.09

Value of common stock shares issued for services

$ 13,500

Chief Executive Officer and Chief Financial Officer [Member]

Number of common stock shares issued

1,000,000

Value of common stock shares issued for services

$ 35,000

Number of unvested shares of common stock

1,083,342

Board of Directors [Member]

Number of common stock shares issued for services

2,500,000

Stock price per share

$ 0.09

Board of Directors [Member] | 2018 Equity Incentive Plan [Member]

Share based compensation stock options, vested

3,333,334

Fair value of stock option, vested

$ 348,953

Options exercisable term

7 years

Number of options issued

5,000,000

Options exercisable

$ 0.08

Chief Executive Officer [Member]

Number of common stock shares issued

1,797,192

Number of common stock shares issued for services

250,000

Stock price per unit

$ 0.014

Conversion of a note payable

$ 25,000

Accrued interest payable

$ 161

Five Officers and Directors [Member] | 2017 Stock Incentive Plan [Member]

Number of common stock shares issued

6,400,000

Stock price per share

$ 0.125

Value of common stock shares

$ 800,000

Former Chief Executive Officer [Member] | 2017 Stock Incentive Plan [Member]

Unvested forfeited, shares

1,666,667

Unvested forfeited, amount

$ 145,833

Officers / Directors / Consultants [Member] | 2018 Equity Incentive Plan [Member]

Number of options to purchase shares of common stock

1,810,000

Options exercisable term

7 years

Options exercise price per share

$ 0.54

Two Individuals [Member] | 2018 Equity Incentive Plan [Member]

Number of options to purchase shares of common stock

150,000

Options exercisable term

7 years

Options exercise price per share

$ 0.38

Officers/Directors [Member] | 2018 Equity Incentive Plan [Member]

Number of options to purchase shares of common stock

800,000

500,000

Options exercisable term

7 years

7 years

Options exercise price per share

$ 0.655

$ 0.48

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Fair Value of Stock Options Assumptions (Details) - 2018 Equity Incentive Plan [Member]	Aug. 19, 2020	Oct. 17, 2018	Aug. 31, 2018
Average risk-free interest rates, Minimum		2.88%	2.30%
Average risk-free interest rates, Maximum		2.93%	2.80%
Average risk-free interest rates	0.23%
Average expected life (in years)	4 years	4 years
Volatility, Minimum		171.00%	160.00%
Volatility, Maximum		172.00%	296.00%
Volatility	152.00%
Minimum [Member]
Average expected life (in years)			4 years
Maximum [Member]
Average expected life (in years)			7 years

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Stock Option Activity (Details)	12 Months Ended
	Jun. 30, 2021$ / sharesshares
Equity [Abstract]
Number of shares, Outstanding and exercisable, beginning balance	2,995,000
Number of shares, Granted	5,000,000
Number of shares, Exercised
Number of shares, Expired/Canceled
Number of shares, Outstanding and exercisable, ending balance	7,995,000
Weighted Average Exercise Price, Outstanding and exercisable, beginning balance | $ / shares	$ 0.55
Weighted Average Exercise Price, Granted | $ / shares	0.08
Weighted Average Exercise Price, Outstanding and Exercisable, ending balance | $ / shares	$ 0.26
Weighted Average Remaining Contractual Life (Years), Outstanding and Exercisable, ending balance	4 years 6 months

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Warrants Outstanding (Details)	Jun. 30, 2021$ / sharesshares
Class A [Member]
Number of warrants outstanding | shares	1,727,299
Exercise price of warrants | $ / shares	$ 0.040265
Expiration date of warrants	Nov. 24, 2025
Class B [Member]
Number of warrants outstanding | shares	1,727,299
Exercise price of warrants | $ / shares	$ 0.043276
Expiration date of warrants	Nov. 24, 2025
Class C [Member]
Number of warrants outstanding | shares	1,727,299
Exercise price of warrants | $ / shares	$ 0.045157
Expiration date of warrants	Nov. 24, 2025

Stockholders' Equity - Schedu_4

Stockholders' Equity - Schedule of Fair Value of Warrants Assumptions (Details)	Jun. 30, 2021
Average Risk-free Interest Rates [Member]
Fair value assumption measurement input for warrants, percentage	0.39
Average Expected Life [Member]
Fair value assumption measurement input, term, warrants	2 years 6 months
Volatility [Member]
Fair value assumption measurement input for warrants, percentage	153

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Warrant Activity (Details)	12 Months Ended
	Jun. 30, 2021$ / sharesshares
Equity [Abstract]
Number of shares, Outstanding and exercisable, beginning balance
Number of shares, Granted	5,181,897
Number of shares, Exercised
Number of shares, Expired/Canceled
Number of shares, Outstanding and exercisable, ending balance	5,181,897
Weighted Average Exercise Price, Outstanding and exercisable, beginning balance | $ / shares
Weighted Average Exercise Price, Granted | $ / shares	0.0429
Weighted Average Exercise Price, Outstanding and exercisable, ending balance | $ / shares	$ 0.0429
Weighted Average Remaining Contractual Term (Years), Outstanding and exercisable, ending balance	4 years 4 months 24 days

Convertible Notes Payable -Re_2

Convertible Notes Payable -Related (Details Narrative)	Nov. 24, 2020USD ($)d$ / sharesshares	Aug. 12, 2020USD ($)$ / sharesshares	Jun. 11, 2020USD ($)d$ / shares	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Oct. 31, 2020USD ($)	Jul. 10, 2020USD ($)
Accrued interest					$ 33
Amortization of convertible notes				$ 12,941
Class A [Member]
Exercise price of warrants | $ / shares				$ 0.040265
Number of warrants outstanding | shares				1,727,299
Class B [Member]
Exercise price of warrants | $ / shares				$ 0.043276
Number of warrants outstanding | shares				1,727,299
Class C [Member]
Exercise price of warrants | $ / shares				$ 0.045157
Number of warrants outstanding | shares				1,727,299
Chief Executive Officer [Member]
Lending amount		$ 25,000
Accrued interest		$ 161
Loans payable							$ 13,000
Conversion of shares | shares		1,797,192
Conversion price | $ / shares		$ 0.014
Financing Arrangement [Member] | Chief Executive Officer [Member]
Lending amount	$ 40,000
Debt interest rate			5.00%
Closing price per share | $ / shares			$ 0.014
Trading days | d			10
Advance amount	$ 25,000					$ 15,000
Financing Arrangement [Member] | Chief Executive Officer [Member] | Maximum [Member]
Lending amount			$ 25,000
Financing Arrangement [Member] | Lender [Member]
Advance amount					$ 12,000
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class A [Member]
Exercise price of warrants | $ / shares	$ 0.040265
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class B [Member]
Exercise price of warrants | $ / shares	0.043276
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class C [Member]
Exercise price of warrants | $ / shares	$ 0.045157
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Unsecured Convertible Promissory Notes [Member]
Debt interest rate	8.00%
Trading days | d	10
Debt maturity term	3 years
Debt maturity date	Nov. 24, 2023
Stock price per share | $ / shares	$ 0.037631
Warrants exercisable period	5 years
Number of warrants outstanding | shares	5,181,897
Fair value of warrants	$ 65,000
Financing Arrangement [Member] | Stockholder [Member]
Lending amount	$ 25,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Jun. 30, 2020	Aug. 10, 2017	Mar. 31, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Nov. 30, 2020	Jun. 30, 2017
Advance from officer				$ 20,000
Number of common stock shares issued for services					$ 7,500
Number of common stock shares issued					473,286
Repaid to related party					$ 9,000	$ 15,000
Number of shares vested					654,167
Chief Executive Officer [Member]
Advance from officer				$ 20,000
Number of common stock shares issued for services, shares				250,000
Number of common stock shares issued				1,797,192
Board of Directors [Member]
Number of common stock shares issued for services, shares				2,500,000
Stock price per share				$ 0.09
Chief Financial Officer [Member]
Number of common stock shares issued for services, shares				250,000
Individuals [Member]
Number of common stock shares issued for services				$ 35,000
Number of common stock shares issued				250,000
Chief Executive Officer and Shareholders [Member]
Convertible debt borrowings							$ 65,000
2017 Stock Incentive Plan [Member]
Number of shares vested					18,750
2017 Stock Incentive Plan [Member] | Chief Executive Officer [Member]
Number of shares cancelled unvested			1,166,667
2017 Stock Incentive Plan [Member] | Five Officers and Directors [Member]
Number of common stock shares issued		6,400,000
Stock price per share		$ 0.125
Value of common stock shares issued		$ 800,000
Stock option plan description		One-third of each grant vested as of the initial date of grant (August 10, 2017), and 8-1/3% upon the end of each calendar quarter beginning December 31, 2017.
Independent [Member]
Number of common stock shares issued for services, shares				25,000
Number of common stock shares issued for services				$ 22,500
Stock price per share				$ 0.09
Kanativa Inc [Member]
Number of common stock shares issued				24,000,000
Ownership percentage				100.00%
Cost and expenses				$ 201,228
Value of common stock shares issued				172,915
Repaid to related party	$ 50,662
Repayments of debt	$ 90,667
Debt maturity date	Mar. 1, 2020
Wrote-off remaining balance					$ 90,667
Kotzker Consulting [Member]
Value of common stock shares issued				78,875
Legal cost				$ 94,040
Kanativa USA [Member]
Due from related parties								$ 141,329

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	12 Months Ended
	Jun. 30, 2021USD ($)
Income Tax Disclosure [Abstract]
Income tax description	On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the Tax Act) was enacted into law and the new legislation contains several key tax provisions that affected us, including a reduction of the corporate income tax rate to 21% effective January 1, 2018.
Corporate income tax rate, percentage	21.00%
Operating loss carryforwards	$ 2,818,000
Operating loss carryforwards expiration date description	The available net operating loss carry forwards expire in various years through 2041. No tax benefit has been reported in the financial statements because the Company believes there is a 50% or greater chance the carry forwards will expire unused.

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Asset and Valuation Account (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Net operating loss carryforward (at combined 24% statutory rate of 21% Federal and 3% State)	$ 677,977	$ 564,973
Valuation allowance	(677,977)	(564,973)
Total

Income Taxes - Schedule of De_2

Income Taxes - Schedule of Deferred Tax Asset and Valuation Account (Details) (Parenthetical)	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Operating loss carryforward percentage	24.00%
Fedral statutory income tax rate, percentage	21.00%
State statutory income tax rate, percentage	3.00%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Change in net operating loss benefit	$ (113,004)	$ (94,745)
Change in valuation allowance	113,004	94,745
Total

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 31, 2021	Jun. 30, 2021	Jun. 30, 2020
Advance from officer		$ 20,000
Chief Executive Officer [Member]
Advance from officer		$ 20,000
Subsequent Event [Member] | Chief Executive Officer [Member]
Advance from officer	$ 10,000