Nexien Biopharma (NXEN) 10-Q 17 May 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2023	May 15, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--06-30
Entity File Number	000-55320
Entity Registrant Name	NEXIEN BIOPHARMA, INC.
Entity Central Index Key	0001625288
Entity Tax Identification Number	26-2049376
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	4340 E Kentucky Ave.
Entity Address, Address Line Two	Suite 206
Entity Address, City or Town	Glendale
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80246
City Area Code	(303)
Local Phone Number	495-7583
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,522,196

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Current Assets
Cash	$ 54,207	$ 116,898
Prepaid - other	3,990	7,620
Total Current Assets	58,197	124,518
Total Assets	58,197	124,518
Current Liabilities
Accounts payable and accrued expenses	22,407	20,395
Due to officer	$ 45,000	$ 45,000
Other Liability, Current, Related Party, Type [Extensible Enumeration]	Officer [Member]	Officer [Member]
Convertible note payable - related party, net of discount of $14,365 (March 31, 2023) and $30,452 (June 30, 2022)	$ 50,635	$ 34,548
Convertible note payable - net of discount of $28,274 (June 30, 2022)	170,454	142,180
Total Current Liabilities	288,496	242,123
Total Liabilities	288,496	242,123
Commitments and Contingencies
Stockholders’ (Deficit)
Preferred stock - $.0001 par value; 10,000,000 authorized; none issued
Common stock value	6,277	6,052
Additional paid in capital	10,914,451	10,759,051
Stock payable	50,750	50,750
Accumulated deficit	(11,201,777)	(10,933,458)
Total Stockholders’ (Deficit)	(230,299)	(117,605)
Total Liabilities and Stockholders’ (Deficit)	$ 58,197	$ 124,518

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Statement of Financial Position [Abstract]
Debt instrument net of discount	$ 14,365	$ 30,452
Convertible note payable net of discount		$ 28,274
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	62,772,196	60,522,196
Common stock, shares outstanding	62,772,196	60,522,196

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue
Operating expenses
Professional fees	8,760	11,290	30,180	28,770
General and administrative	60,615	153,113	186,542	464,068
Total operating expenses	69,375	164,403	216,722	492,838
Other income (expense)
Interest expense	(2,393)	(9,352)	(7,236)	(11,959)
Amortization of discount on convertible notes	(8,085)	(13,696)	(44,361)	(24,559)
Total other income (expense)	(10,478)	(23,048)	(51,597)	(36,518)
Net loss	$ (79,853)	$ (187,451)	$ (268,319)	$ (529,356)
Loss per share - basic and diluted	$ (0.001)	$ (0.003)	$ (0.004)	$ (0.01)
Weighted average shares outstanding - basic and diluted	62,637,365	59,080,529	61,868,350	57,009,375

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Stock Payable [Member]	Common Stock Subject To Forfeiture [Member]	Retained Earnings [Member]	Total
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
Common stock issuable to officers			35,500			35,500
Net loss					(121,711)	(121,711)
Amortization of CRx shares				60,000		60,000
Balance at Sep. 30, 2021	$ 5,577	10,476,004	70,500	(163,255)	(10,428,812)	(39,986)
Balance, shares at Sep. 30, 2021	55,772,196
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
Net loss						(529,356)
Balance at Mar. 31, 2022	$ 6,002	10,732,195	35,000		(10,836,457)	(63,260)
Balance, shares at Mar. 31, 2022	60,022,196
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
Balance at Jun. 30, 2022	$ 6,052	10,759,051	50,750		(10,933,458)	(117,605)
Balance, shares at Jun. 30, 2022	60,522,196
Balance at Sep. 30, 2021	$ 5,577	10,476,004	70,500	(163,255)	(10,428,812)	(39,986)
Balance, shares at Sep. 30, 2021	55,772,196
Common stock issued to officers	$ 100	69,900	(70,500)			(500)
Common stock issued to officers, shares	1,000,000
Common stock issuable to officers			35,000			35,000
Net loss					(220,194)	(220,194)
Amortization of CRx shares				163,255		163,255
Balance at Dec. 31, 2021	$ 5,677	10,545,904	35,000		(10,649,006)	(62,425)
Balance, shares at Dec. 31, 2021	56,772,196
Common stock issued to officers	$ 50	34,950	(35,000)
Common stock issued to officers, shares	500,000
Common stock issuable to officers			35,000			35,000
Net loss					(187,451)	(187,451)
Warrant issued for consulting services		110,264				110,264
Exercise of warrant issued for consulting services	$ 225	2,025				2,250
Exercise of warrant issued for consulting services, shares	2,250,000
Common stock issued for convertible debt finaning	$ 50	26,450				26,500
Common stock issued for convertible debt finaning, shares	500,000
Warrant issued for convertible debt		12,602				12,602
Balance at Mar. 31, 2022	$ 6,002	10,732,195	35,000		(10,836,457)	(63,260)
Balance, shares at Mar. 31, 2022	60,022,196
Balance at Jun. 30, 2022	$ 6,052	10,759,051	50,750		(10,933,458)	(117,605)
Balance, shares at Jun. 30, 2022	60,522,196
Common stock issued to officers	$ 75	50,675	(50,750)
Common stock issued to officers, shares	750,000
Common stock issuable to officers			50,750			50,750
Imputed interest on related party advance		1,125				1,125
Net loss					(94,874)	(94,874)
Balance at Sep. 30, 2022	$ 6,127	10,810,851	50,750		(11,028,332)	(160,604)
Balance, shares at Sep. 30, 2022	61,272,196
Balance at Jun. 30, 2022	$ 6,052	10,759,051	50,750		(10,933,458)	(117,605)
Balance, shares at Jun. 30, 2022	60,522,196
Net loss						(268,319)
Balance at Mar. 31, 2023	$ 6,277	10,914,451	50,750		(11,201,777)	(230,299)
Balance, shares at Mar. 31, 2023	62,772,196
Balance at Sep. 30, 2022	$ 6,127	10,810,851	50,750		(11,028,332)	(160,604)
Balance, shares at Sep. 30, 2022	61,272,196
Common stock issued to officers	$ 75	50,675	(50,750)
Common stock issued to officers, shares	750,000
Common stock issuable to officers			50,750			50,750
Imputed interest on related party advance		1,125				1,125
Net loss					(93,592)	(93,592)
Balance at Dec. 31, 2022	$ 6,202	10,862,651	50,750		(11,121,924)	(202,321)
Balance, shares at Dec. 31, 2022	62,022,196
Common stock issued to officers	$ 75	50,675	(50,750)
Common stock issued to officers, shares	750,000
Common stock issuable to officers			50,750			50,750
Imputed interest on related party advance		1,125				1,125
Net loss					(79,853)	(79,853)
Balance at Mar. 31, 2023	$ 6,277	$ 10,914,451	$ 50,750		$ (11,201,777)	$ (230,299)
Balance, shares at Mar. 31, 2023	62,772,196

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net loss	$ (268,319)	$ (529,356)
Adjustments to reconcile net loss to net cash used in operating activities
Fair value of shares issued for CRx Acquisition		223,255
Fair value of warrants issued		110,264
Imputed interest on related party advances	3,375
Stock issued to officers and director	152,250	105,000
Amortization of discount on convertible debt - related	16,087	16,205
Amortization of discount on convertible debt	28,274	12,389
Changes is assets and liabilities
Decrease in prepaids	3,630	3,690
Increase in accounts payable and accrued expenses	2,012	6,729
Cash used in operating activities	(62,691)	(51,824)
Cash flows from investing activities
Cash used in investing activities
Cash flows from financing activities
Cash proceeds from convertible note payable		146,750
Cash proceeds from exercise of warrants		2,250
Advance from officer		25,000
Cash provided by financing activities		174,000
Net (decrease) increase in cash and cash equivalents	(62,691)	122,176
Cash and cash equivalents, beginning of period	116,898	18,041
Cash and cash equivalents, end of period	$ 54,207	$ 140,217

Nature of Business and Basis of

Nature of Business and Basis of Presentation	9 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Nature of Business and Basis of Presentation	Note 1 – Nature of Business and Basis of Presentation Nexien BioPharma, Inc. (the “Company” or “Nexien”) was incorporated in the State of Michigan on November 10, 1952 as Gantos, Inc., and reincorporated in the State of Delaware in 2008, changing its name to Kinder Holding Corp. In October 2017, the Company completed a reverse acquisition of Intiva BioPharma Inc., a Colorado corporation (“BioPharma”), incorporated on March 27, 2017, through an exchange of shares (the “Share Exchange Transaction”) and changed its name to Intiva BioPharma Inc. In September 2018, the Company changed its name to Nexien BioPharma, Inc. As further described in Note 4, 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. BioPharma was incorporated 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.

Going Concern Uncertainty

Going Concern Uncertainty	9 Months Ended
	Mar. 31, 2023
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 $ 11,201,777 230,299 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2023
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 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 March 31, 2023 and June 30, 2022, 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. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 3 – Summary of Significant Accounting Policies (continued) 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 liabilities 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 March 31, 2023 and June 30, 2022, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels. As at March 31, 2023 and June 30, 2022, 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. At March 31, 2023 and 2022, there were potentially dilutive securities convertible into shares of common stock comprised of (i) stock options – convertible into 7,995,000 5,529,409 16,337,688 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. 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. Research and Development Expenses Research and development expenses are charged to operations as incurred. There were no research and development expenses incurred during the nine months ended March 31, 2023 and 2022. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 3 – Summary of Significant Accounting Policies (continued) Advertising Expenses Advertising expenses are charged to operations as incurred. There were no 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 period 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 March 31, 2023 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	9 Months Ended
	Mar. 31, 2023
Share Exchange Agreement
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 0.0001 20,000,000 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

License Agreements

License Agreements	9 Months Ended
	Mar. 31, 2023
License Agreements
License Agreements	Note 5 – License Agreements Accu-Break License Agreement In February 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), whose President was an affiliate of the Company as of the date of the agreement. The Company paid $ 65,000 35,000

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stockholders’ Equity	Note 6– Stockholders’ Equity Common stock The Board of Directors authorized the issuance of a total of 2,500,000 250,000 1,000,000 250,000 50,750 750,000 During the nine months ended March 31, 2023, the Company issued shares of its common stock as follows: ● 2,250,000 750,000 152,250 Options A summary of option activity during the nine months ended March 31, 2023 is presented below: Schedule of Stock Option Activity Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding and exercisable – June 30, 2022 7,995,000 $ 0.26 3.7 Granted - Exercised - Expired/Canceled - Outstanding and exercisable -March 31, 2023 7,995,000 $ 0.26 3.0 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 6– Stockholders’ Equity (continued) Warrants A summary of warrant activity during the nine months ended March 31, 2023 is presented below: Schedule of Warrant Activity Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding and exercisable – June 30, 2022 5,529,409 $ 0.0429 3.36 Granted - Exercised - Expired/Canceled - Outstanding and exercisable – March 31, 2023 5,529,409 $ 0.0429 2.60

Convertible Notes Payable

Convertible Notes Payable	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Convertible Notes Payable	Note 7 – Convertible Notes Payable Convertible note purchase agreement On January 18, 2022, the Company entered into a note purchase agreement with Quick Capital pursuant to which the Company issued Quick Capital a twelve-month convertible promissory note, due January 18, 2023, in the principal amount of $ 170,454 146,750 3,250 12 23,704 500,000 347,512 0.075 27,383 170,454 142,180 28,274 Quick Capital is entitled to a cash payment of $ 20,000 1,000,000 The Note is convertible into shares of common stock at a conversion price of $ 0.035 130 If an event of default (as described in the Note) occurs, the Note will become immediately due and payable in an amount equal to 150 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 7 – Convertible Notes Payable (continued) The Note may not be converted and the Warrant may not be exercised if after giving effect to such conversion or exercise, as the case may be, Quick Capital and its affiliates would beneficially own more than 9.99 350,000 The Company has recorded the original issue discount, legal fees, financing shares and warrants of the Note, aggregating $ 51,087 28,274 The Company and Quick Capital entered into an Amendment and Extension of the Note Purchase Agreement extending the maturity of the Note to June 30, 2023 12 500,000 Convertible notes payable - related 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 8 0.037631 40,000 15,000 25,000 25,000 0.040265 0.043276 0.045157 5,181,897 The Company has recorded the conversion feature as a Beneficial Conversion Feature. The fair value of $ 65,000 At March 31, 2023 and June 30, 2022, $ 50,635 14,365 34,548 30,452 16,087 16,205 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Related Party Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Note 8 – Related Party Transactions As of March 31, 2023 and June 30, 2022, the Company’s Chief Executive Officer had advanced an aggregate $ 45,000 45,000 10 3,175 During the year ended June 30, 2021, the Board of Directors authorized the issuance of a total of 2,500,000 250,000 1,000,000 250,000 2,250,000 152,250 As discussed in Note 7, the Company entered into convertible debt financing agreements with two individuals, its CEO and a shareholder, for aggregate borrowings of $ 65,000 50,635 14,365 34,548 30,452 BioPharma was formed as a subsidiary of Kanativa USA, which is a subsidiary of Kanativa Inc. Kanativa USA was issued 24,000,000 100 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.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9- Commitments and Contingencies At March 31, 2023 there were no legal proceedings against the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 10 – Subsequent Events In April 2023, the Company issued an aggregate 750,000 50,750 The Company has analyzed its operations subsequent to March 31, 2023 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)	9 Months Ended
	Mar. 31, 2023
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
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 March 31, 2023 and June 30, 2022, 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. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 3 – Summary of Significant Accounting Policies (continued) 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 liabilities 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 March 31, 2023 and June 30, 2022, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels. As at March 31, 2023 and June 30, 2022, 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. At March 31, 2023 and 2022, there were potentially dilutive securities convertible into shares of common stock comprised of (i) stock options – convertible into 7,995,000 5,529,409 16,337,688
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.
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.
Research and Development Expenses	Research and Development Expenses Research and development expenses are charged to operations as incurred. There were no research and development expenses incurred during the nine months ended March 31, 2023 and 2022. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Note 3 – Summary of Significant Accounting Policies (continued)
Advertising Expenses	Advertising Expenses Advertising expenses are charged to operations as incurred. There were no
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 period 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 March 31, 2023 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)	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Stock Option Activity	A summary of option activity during the nine months ended March 31, 2023 is presented below: Schedule of Stock Option Activity Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding and exercisable – June 30, 2022 7,995,000 $ 0.26 3.7 Granted - Exercised - Expired/Canceled - Outstanding and exercisable -March 31, 2023 7,995,000 $ 0.26 3.0
Schedule of Warrant Activity	A summary of warrant activity during the nine months ended March 31, 2023 is presented below: Schedule of Warrant Activity Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding and exercisable – June 30, 2022 5,529,409 $ 0.0429 3.36 Granted - Exercised - Expired/Canceled - Outstanding and exercisable – March 31, 2023 5,529,409 $ 0.0429 2.60

Going Concern Uncertainty (Deta

Going Concern Uncertainty (Details Narrative) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 11,201,777	$ 10,933,458
Working capital deficit	$ 230,299

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Cash equivalents	$ 0		$ 0
Advertising expenses	$ 0	$ 0
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Promissory note convertible into shares	7,995,000	7,995,000
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Promissory note convertible into shares	5,529,409	5,529,409
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Promissory note convertible into shares	16,337,688	16,337,688

Share Exchange Agreement (Detai

Share Exchange Agreement (Details Narrative) - $ / shares	Aug. 08, 2017	Mar. 31, 2023	Jun. 30, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock par value		$ 0.0001	$ 0.0001
Share Exchange Agreement [Member] | Post-Reverse Stock-Split [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reverse stock-split shares	42,642,712
Common stock par value	$ 0.0001
Share Exchange Agreement [Member] | Pre-Reverse Split [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reverse stock-split shares	20,000,000

License Agreements (Details Nar

License Agreements (Details Narrative) - Accu-Break Pharmaceuticals, Inc. [Member] - License Agreement [Member]	1 Months Ended
	Aug. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Payment to license	$ 65,000
Value of common stock shares	$ 35,000

Schedule of Stock Option Activi

Schedule of Stock Option Activity (Details)	9 Months Ended
	Mar. 31, 2023 $ / shares shares
Equity [Abstract]
Shares, Outstanding and exercisable beginning balance	7,995,000
Weighted Average Exercise Price, Outstanding and exercisable beginning balance | $ / shares	$ 0.26
Weighted Average Remaining Contractual Life (Years)), Outstanding and exercisable beginning balance	3 years 8 months 12 days
Shares, Granted
Shares, Exercised
Shares, Expired/Canceled
Shares, Outstanding and exercisable ending balance	7,995,000
Weighted Average Exercise Price, Outstanding and exercisable ending balance | $ / shares	$ 0.26
Weighted Average Remaining Contractual Life (Years), Outstanding and exercisable ending balance	3 years

Schedule of Warrant Activity (D

Schedule of Warrant Activity (Details)	9 Months Ended
	Mar. 31, 2023 $ / shares shares
Equity [Abstract]
Shares, Outstanding and exercisable beginning balance	5,529,409
Weighted Average Exercise Price, Outstanding and exercisable beginning balance | $ / shares	$ 0.0429
Weighted Average Remaining Contractual Life (Years), Outstanding and exercisable beginning balance	3 years 4 months 9 days
Shares, Granted
Shares, Exercised
Shares, Expired/Canceled
Shares, Outstanding and exercisable ending balance	5,529,409
Weighted Average Exercise Price, Outstanding and exercisable ending balance | $ / shares	$ 0.0429
Weighted Average Remaining Contractual Life (Years), Outstanding and exercisable ending balance	2 years 7 months 6 days

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended					9 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2021
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Aggregate fair value of stock payable	$ 50,750	$ 50,750					$ 50,750	$ 50,750
Value of common stock issued for services						$ 500
Board of Directors Chairman [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
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; and has authorized the issuance of a total of 1,000,000 shares of common stock of the Company to its Chief Operating Officer with 250,000 of such shares to be issued to him every quarter beginning July 1, 2022 and continuing every three months through April 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
Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of stock authorized		2,500,000					2,500,000		2,500,000
Number of common stock shares issued for services							750,000
Chief Executive Officer [Member] | Every Quarter From July 1, 2021 To October 1, 2023 [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued for services								250,000
Chief Financial Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of stock authorized		2,500,000					2,500,000		2,500,000
Number of common stock shares issued for services							750,000
Chief Financial Officer [Member] | Every Quarter From July 1, 2021 To October 1, 2023 [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued for services								250,000
Chief Operating Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of stock authorized	1,000,000							1,000,000
Number of common stock shares issued for services							750,000
Chief Operating Officer [Member] | Every Quarter From July 1, 2022 To April 1, 2023 [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued for services	250,000
Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued for services							2,250,000
Aggregate fair value of stock payable		$ 50,750					$ 50,750
Number of shares in stock payable							750,000
Value of common stock issued for services							$ 152,250

Convertible Notes Payable (Deta

Convertible Notes Payable (Details Narrative) - USD ($)			1 Months Ended	3 Months Ended	9 Months Ended
	Jan. 18, 2022	Nov. 24, 2020	Oct. 31, 2020	Mar. 31, 2023	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022	May 07, 2022
Short-Term Debt [Line Items]
Proceeds from convertible note						$ 146,750
Unamortized debt discount							$ 28,274
Convertible notes payable				$ 170,454	170,454		142,180
Amortization of convertible notes					28,274	12,389
Advance amount						25,000
Convertible note payable related party				50,635	50,635		34,548
Unamortized debt discount premium				$ 14,365	14,365		$ 30,452
Amortization of beneficial conversion feature					$ 16,087	$ 16,205
Note Purchase Agreement [Member] | Quick Capital LLC [Member]
Short-Term Debt [Line Items]
Lending amount	$ 170,454							$ 350,000
Proceeds from convertible note	146,750
Legal fee	$ 3,250
Issance discount rate	12%
Debt instrument original issue discount	$ 23,704
Number of common stock restricted shares	500,000
Number of common stock restricted shares	347,512
Exercise price of warrants	$ 0.075
Unamortized debt discount	$ 27,383
Cash payment	20,000
Debt securities	$ 1,000,000
Conversion price	$ 0.035
Debt instrument, interest rate, prepaid percentage	130%
Debt interest rate	150%			12%	12%
Outstanding common stock	9.99%
Fair value of notes payable	$ 51,087
Debt maturity date				Jun. 30, 2023
Debt shares issued					5,000
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Number of warrants outstanding		5,181,897
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class A Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants		$ 0.040265
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class B Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants		0.043276
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class C Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants		$ 0.045157
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Unsecured Convertible Promissory Notes [Member]
Short-Term Debt [Line Items]
Debt interest rate		8%
Fair value of notes payable		$ 65,000
Debt maturity date		Nov. 24, 2023
Debt maturity term		3 years
Stock price per share		$ 0.037631
Financing Arrangement [Member] | Chief Executive Officer [Member] | Unsecured Convertible Promissory Notes [Member]
Short-Term Debt [Line Items]
Lending amount		$ 40,000
Advance amount			$ 15,000
Advance amount		25,000
Financing Arrangement [Member] | Stockholder [Member] | Unsecured Convertible Promissory Notes [Member]
Short-Term Debt [Line Items]
Advance amount		$ 25,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended					9 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2021	Nov. 24, 2020
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Due to officer	$ 45,000	$ 45,000					$ 45,000	$ 45,000
Value of common stock shares issued for services						$ 500
Convertible note payable related party	34,548	50,635					50,635	34,548
Unamortized debt discount premium	30,452	$ 14,365					$ 14,365	30,452
Kanativa Inc [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued							24,000,000
Ownership percentage		100%					100%
Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Working capital							$ 45,000	45,000
Due to officer	$ 45,000	$ 45,000					$ 45,000	$ 45,000
Imputed interest on advance rate							10%
Imputed interest amount		$ 3,175					$ 3,175
Number of stock authorized		2,500,000					2,500,000		2,500,000
Number of common stock shares issued for services							750,000
Chief Executive Officer [Member] | Every Quarter From July 1, 2021 To October 1, 2023 [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued for services								250,000
Chief Financial Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of stock authorized		2,500,000					2,500,000		2,500,000
Number of common stock shares issued for services							750,000
Chief Financial Officer [Member] | Every Quarter From July 1, 2021 To October 1, 2023 [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued for services								250,000
Chief Operating Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of stock authorized	1,000,000							1,000,000
Number of common stock shares issued for services							750,000
Chief Operating Officer [Member] | Every Quarter From July 1, 2022 To April 1, 2023 [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued for services	250,000
Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Number of common stock shares issued for services							2,250,000
Value of common stock shares issued for services							$ 152,250
Shareholder [Member] | Financing Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Fair value of notes payable										$ 65,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended					9 Months Ended
	Apr. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2023
Subsequent Event [Line Items]
Value of common stock shares issued for services						$ 500
Officer [Member]
Subsequent Event [Line Items]
Number of common stock shares issued for services							2,250,000
Value of common stock shares issued for services							$ 152,250
Subsequent Event [Member] | Officer [Member]
Subsequent Event [Line Items]
Number of common stock shares issued for services	750,000
Value of common stock shares issued for services	$ 50,750