Nexien BioPharma (NXEN) 10-K 22 Oct 24 2024 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jun. 30, 2024	Oct. 22, 2024	Dec. 31, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2024
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 East Kentucky Avenue
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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	true
Entity Public Float			$ 686,961
Entity Common Stock, Shares Outstanding		70,772,196
Documents Incorporated by Reference	None
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	2738
Auditor Name	M&K CPAS, PLLC
Auditor Location	The Woodlands, TX

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Current Assets
Cash	$ 4,183	$ 35,147
Prepaid - other		7,980
Total Current Assets	4,183	43,127
Total Assets	4,183	43,127
Current Liabilities
Accounts payable and accrued expenses	53,178	23,643
Total Current Liabilities	365,432	295,134
Total Liabilities	365,432	295,134
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; 70,472,196 shares issued and outstanding -June 30, 2024; 64,022,196 shares issued and outstanding -June 30, 2023;	7,047	6,402
Additional paid in capital	11,166,177	10,986,201
Stock payable		50,750
Accumulated deficit	(11,534,473)	(11,295,360)
Total Stockholders’ (Deficit)	(361,249)	(252,007)
Total Liabilities and Stockholders’ (Deficit)	4,183	43,127
Related Party [Member]
Current Liabilities
Due to officer	58,400	45,000
Convertible note payable	65,000	56,037
Nonrelated Party [Member]
Current Liabilities
Convertible note payable	$ 188,854	$ 170,454

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Debt instrument net of discount	$ 0	$ 0
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	70,472,196	64,022,196
Common stock, shares outstanding	70,472,196	64,022,196
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Debt instrument net of discount	$ 0	$ 8,963
Nonrelated Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Debt instrument net of discount	$ 6,044

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue
Operating expenses
Professional fees	33,495	35,660
General and administrative	122,168	246,948
Total operating expenses	155,663	282,608
Other income (expense)
Interest expense	(35,287)	(29,531)
Amortization of discount on convertible notes	(48,163)	(49,763)
Total other income (expense)	(83,450)	(79,294)
Net loss	$ (239,113)	$ (361,902)
Loss per share - basic	$ 0	$ (0.01)
Loss per share - diluted	$ 0	$ (0.01)
Weighted average shares outstanding - basic	66,193,840	62,333,322
Weighted average shares outstanding - diluted	66,193,840	62,333,322

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' (Deficit) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Stock Payable [Member]	Retained Earnings [Member]	Total
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	$ 300	202,700			203,000
Common stock issued to officers, shares	3,000,000
Common stock issued as loan consideration	$ 50	19,950			$ 20,000
Common stock issued as loan consideration, shares					500,000
Imputed interest on related party advance		4,500			$ 4,500
Net (loss)				(361,902)	(361,902)
Balance, at Jun. 30, 2023	$ 6,402	10,986,201	50,750	(11,295,360)	(252,007)
Balance, shares at Jun. 30, 2023	64,022,196
Common stock issued to officers	$ 425	134,525	(50,750)		84,200
Common stock issued to officers, shares	4,250,000
Common stock issued as loan consideration	$ 220	13,265			$ 13,485
Common stock issued as loan consideration, shares					2,200,000
Imputed interest on related party advance		4,871			$ 4,871
Net (loss)				(239,113)	(239,113)
Discount on convertible debt		6,515			6,515
Beneficial conversion feature - related party debt		20,800			20,800
Balance, at Jun. 30, 2024	$ 7,047	$ 11,166,177		$ (11,534,473)	$ (361,249)
Balance, shares at Jun. 30, 2024	70,472,196

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net loss	$ (239,113)	$ (361,902)
Adjustments to reconcile net loss to net cash used in operating activities
Imputed interest on related party advances	4,871	4,500
Stock issued to officers and director	84,200	203,000
Stock issued for loan extension		20,000
Amortization of beneficial convertible feature-related party debt	20,800
Amortization of discount on convertible debt - related	8,963	21,489
Amortization of discount on convertible debt	18,400	28,274
Changes is assets and liabilities
(Increase) decrease in prepaids	7,980	(360)
Increase in accounts payable and accrued expenses	29,535	3,248
Cash used in operating activities	(64,364)	(81,751)
Cash flows from investing activities
Cash used in investing activities
Cash flows from financing activities
Cash proceeds from convertible debt	20,000
Cash proceeds from related party advance	13,400
Cash provided by financing activities	33,400
Net increase in cash and cash equivalents	(30,964)	(81,751)
Cash and cash equivalents, beginning of period	35,147	116,898
Cash and cash equivalents, end of period	4,183	35,147
Supplemental disclosure of non-cash investing and
Shares issued to officers for services from stock payable	50,750	50,750
Debt discount on convertible notes	20,000
Benefical conversion feature of related party debt	$ 20,800

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (239,113)	$ (361,902)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
No Insider Trading Flag	true

Nature of Business and Basis of

Nature of Business and Basis of Presentation	12 Months Ended
	Jun. 30, 2024
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 a result of the Share Exchange Transaction, 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	12 Months Ended
	Jun. 30, 2024
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 $ 11,534,473 361,249 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Fair Value of Financial Instruments	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 June 30, 2024 and 2023, 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 Years Ended June 30, 2024 and 2023 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 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, 2024 and 2023, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels. As of June 30, 2024, 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 June 30, 2024 and 2023, there were potentially dilutive securities convertible into shares of common stock comprised of (i) stock options – convertible into 7,995,000 7,995,000 5,529,409 5,529,409 25,460,912 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. 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. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 Note 3 – Summary of Significant Accounting Policies (continued) 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, 2024 and 2023. Research and Development Expenses Research and development expenses are charged to operations as incurred. There were no Advertising Expenses Advertising expenses are charged to operations as incurred. There were no 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. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 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, 2024 and does not expect such pronouncements to have a material impact on the Company’s financial position, operations, or cash flows.

License Agreement

License Agreement	12 Months Ended
	Jun. 30, 2024
License Agreement
License Agreement	Note 4 – License Agreement 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	12 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders’ Equity	Note 5 - 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 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 Note 5 - Stockholders’ Equity (continued) During the year ended June 30, 2024, the Company issued shares of its common stock as follows: ● 1,250,000 500,000 250,000 85,750 ● 3,000,000 1,000,000 2,000,000 49,200 0.0164 ● 2,200,000 13,485 During the year ended June 30, 2023, the Company issued shares of its common stock as follows: ● 3,000,000 1,000,000 203,000 ● 500,000 0.04 20,000 2017 Stock Incentive Plan On August 10, 2017, the Company adopted the “2017 Stock Incentive Plan” and granted an aggregate of 6,400,000 800,000 0.125 1,166,667 145,833 1,083,342 5,233,333 654,167 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 In July 2018, the Board of Directors granted options to purchase a total of 1,810,000 exercisable for a period of seven years 0.54 In August 2018, the Board of Directors granted options to purchase a total of 150,000 exercisable for a period of seven years 0.38 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 Note 5 - Stockholders’ Equity (continued) 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: Schedule of Weighted-average Assumptions of Option Grant Average risk-free interest rates 2.3 2.8 % Average expected life (in years) 4.0 7.0 Volatility 160 296 % The fair value of the options granted is $ 867,715 (ii) On October 17, 2018, the Board of Directors granted options to purchase an aggregate 800,000 exercisable for a period of seven years 0.655 500,000 exercisable for a period of seven years 0.48 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 171 172 % (iii) On August 19, 2020, the Board of Directors authorized the issuance of an aggregate 5,000,000 0.08 seven-year period from the date of grant 3,333,334 1,666,666 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 % Average expected life (in years) 4.0 Volatility 152 % All options granted are fully vested. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 Note 5 - Stockholders’ Equity (continued) A summary of option activity during the years ended June 30, 2023 and 2024 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 – June 30, 2023 7,995,000 $ 0.26 2.7 Granted - Exercised - Expired/Canceled - Outstanding and exercisable – June 30, 2024 7,995,000 $ 0.26 1.7 Warrants On November 24, 2020, the Company issued warrants for the acquisition of common shares as partial consideration for the issuance of related party convertible notes (Note 6). The following table summarizes information about warrants outstanding at June 30, 2024: Summary of Warrants Outstanding 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: Schedule of Weighted-average Assumptions for Grant of Warrants Average risk-free interest rates .39 % Average expected life (in years) 2.5 Volatility 153 % During the year ended June 30, 2022 the Company granted warrants to purchase 347,512 0.075 three years 8,825 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 Note 5 - Stockholders’ Equity (continued) A summary of warrant activity during the years ended June 30, 2023 and 2024 is presented below: Summary 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 – June 30, 2023 5,529,409 $ 0.0429 2.60 Granted - Exercised - Expired/Canceled - Outstanding and exercisable – June 30, 2024 5,529,409 $ 0.0429 1.35

Convertible Notes Payable

Convertible Notes Payable	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Convertible Notes Payable	Note 6 – Convertible Notes Payable Convertible note purchase agreement (i) 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 20,454 500,000 three-year 347,512 0.075 0.035 There is no 28,274 In May 2023, 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 20,000 0.04 29,308 170,454 (ii) On February 14, 2024, the Company entered into a note purchase agreement with Quick Capital pursuant to which the Company issued Quick Capital a six-month convertible promissory note, due August 14, 2024, in the principal amount of $ 24,444 12 24 20,000 2,000 10 2,444 0.02 2,200,000 13,485 1,090 24,444 18,400 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 Note 6 – Convertible Notes Payable (continued) 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 10 40,000 15,000 25,000 25,000 five-year 0.040265 0.043276 0.045157 5,181,897 The Company had recorded the conversion feature as a Beneficial Conversion Feature. The fair value of $ 65,000 At June 30, 2024 and June 30, 2023, $ 65,000 0 56,037 8,963 8,963 21,489 The noteholders agreed to extend the due date of the loans through June 30, 2024 under the same terms and conditions as the original note. The Company has accrued interest on the notes at the default interest rate of 18 0.02 20,800 0.02

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 7– Related Party Transactions The Company’s Chief Executive Officer advanced $ 58,400 13,400 58,400 45,000 10 4,871 4,500 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 4,250,000 3,000,000 84,200 203,000 As discussed in Note 6, in November 2020, the Company entered into convertible debt financing agreements with two individuals, its CEO and a shareholder, for aggregate borrowings $ 65,000 65,000 56,037 8,963 NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 Note 7– Related Party Transactions (continued) 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.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 – 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. No provision for income taxes has been recorded due to the net operating loss carryforwards totaling approximately $ 3,018,000 The available net operating loss carry forwards expire in various years through 2043. 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. The deferred tax asset and valuation account is as follows at June 30: Schedule of Deferred Tax Asset and Valuation Account 2024 2023 Deferred tax asset Net operating loss carryforward (at combined 24 21 3 $ 726,195 $ 688,923 Valuation allowance (726,195 ) (688,923 ) Total $ - $ - The components of income tax expense are as follows for the years ended June 30: Schedule of Income Tax Expense 2024 2023 Change in net operating loss benefit $ (37,272 ) $ (38,232 ) Change in valuation allowance 37,272 38,232 Total $ - $ -

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9- Commitments and Contingencies At June 30, 2024, there were no legal proceedings against the Company. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 10 – Subsequent Events In October 2024, the Company’s Chief Executive Officer advanced $ 10,000 In October, 2024, the Company entered into a note purchase agreement with Quick Capital pursuant to which the Company issued Quick Capital a convertible promissory note, due six months after the date of issue, in the principal amount of $ 12,222 12 24 10,000 1,000 10 1,222 0.01 300,000 The Company has analyzed its operations subsequent to June 30, 2024 through the date these financial statements were issued, and has determined that it does not have any additional material subsequent events to disclose

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Policies)	12 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and 2023, 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 Years Ended June 30, 2024 and 2023 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 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, 2024 and 2023, there were no significant transfers of financial assets or financial liabilities between the hierarchy levels. As of June 30, 2024, 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 June 30, 2024 and 2023, there were potentially dilutive securities convertible into shares of common stock comprised of (i) stock options – convertible into 7,995,000 7,995,000 5,529,409 5,529,409 25,460,912 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. 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. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023 Note 3 – Summary of Significant Accounting Policies (continued) 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, 2024 and 2023.
Research and Development Expenses	Research and Development Expenses Research and development expenses are charged to operations as incurred. There were no
Advertising Expenses	Advertising Expenses Advertising expenses are charged to operations as incurred. There were no
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. NEXIEN BIOPHARMA, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Years Ended June 30, 2024 and 2023
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, 2024 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, 2024
Equity [Abstract]
Schedule of Weighted-average Assumptions of Option 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: Schedule of Weighted-average Assumptions of Option Grant Average risk-free interest rates 2.3 2.8 % Average expected life (in years) 4.0 7.0 Volatility 160 296 % 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 171 172 % 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 2.3 % Average expected life (in years) 4.0 Volatility 152 %
Schedule of Stock Option Activity	A summary of option activity during the years ended June 30, 2023 and 2024 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 – June 30, 2023 7,995,000 $ 0.26 2.7 Granted - Exercised - Expired/Canceled - Outstanding and exercisable – June 30, 2024 7,995,000 $ 0.26 1.7
Summary of Warrants Outstanding	The following table summarizes information about warrants outstanding at June 30, 2024: Summary of Warrants Outstanding 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 Weighted-average Assumptions for Grant of Warrants	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: Schedule of Weighted-average Assumptions for Grant of Warrants 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 years ended June 30, 2023 and 2024 is presented below: Summary 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 – June 30, 2023 5,529,409 $ 0.0429 2.60 Granted - Exercised - Expired/Canceled - Outstanding and exercisable – June 30, 2024 5,529,409 $ 0.0429 1.35

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2024
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: Schedule of Deferred Tax Asset and Valuation Account 2024 2023 Deferred tax asset Net operating loss carryforward (at combined 24 21 3 $ 726,195 $ 688,923 Valuation allowance (726,195 ) (688,923 ) Total $ - $ -
Schedule of Income Tax Expense	The components of income tax expense are as follows for the years ended June 30: Schedule of Income Tax Expense 2024 2023 Change in net operating loss benefit $ (37,272 ) $ (38,232 ) Change in valuation allowance 37,272 38,232 Total $ - $ -

Going Concern Uncertainty (Deta

Going Concern Uncertainty (Details Narrative)	87 Months Ended
	Jun. 30, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating loss	$ 11,534,473
Working capital deficit	$ 361,249

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Cash equivalents	$ 0	$ 0
Research and development expenses	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	25,460,912	16,337,688

License Agreement (Details Narr

License Agreement (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 Weighted-average As

Schedule of Weighted-average Assumptions of Option Grant (Details)	Aug. 19, 2020	Oct. 17, 2018	Mar. 30, 2018
Average risk-free interest rates	2.30%
Average expected life (in years)	4 years	4 years
Volatility	152%
Minimum [Member]
Average risk-free interest rates		2.88%	2.30%
Average expected life (in years)			4 years
Volatility		171%	160%
Maximum [Member]
Average risk-free interest rates		2.93%	2.80%
Average expected life (in years)			7 years
Volatility		172%	296%

Schedule of Stock Option Activi

Schedule of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Equity [Abstract]
Number of shares, outstanding and exercisable beginning balance	7,995,000	7,995,000
Weighted average exercise price, outstanding and exercisable beginning balance	$ 0.26	$ 0.26
Weighted average remaining contractual life (years), outstanding and exercisable	1 year 8 months 12 days	2 years 8 months 12 days	3 years 8 months 12 days
Number of shares, granted
Number of shares, exercised
Number of shares, expired/canceled
Number of shares, outstanding and exercisable ending balance	7,995,000	7,995,000	7,995,000
Weighted average exercise price, outstanding and exercisable ending balance	$ 0.26	$ 0.26	$ 0.26

Summary of Warrants Outstanding

Summary of Warrants Outstanding (Details)	12 Months Ended
	Jun. 30, 2024 $ / shares shares
Class A [Member]
Class of Warrant or Right [Line Items]
Number of warrants outstanding | shares	1,727,299
Warrants exercise price | $ / shares	$ 0.040265
Warrants expires	Nov. 24, 2025
Class B [Member]
Class of Warrant or Right [Line Items]
Number of warrants outstanding | shares	1,727,299
Warrants exercise price | $ / shares	$ 0.043276
Warrants expires	Nov. 24, 2025
Class C [Member]
Class of Warrant or Right [Line Items]
Number of warrants outstanding | shares	1,727,299
Warrants exercise price | $ / shares	$ 0.045157
Warrants expires	Nov. 24, 2025

Schedule of Weighted-average _2

Schedule of Weighted-average Assumptions for Grant of Warrants (Details)	Jun. 30, 2024
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	0.39
Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	2.5
Measurement Input, Option Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants measurement input	153

Summary of Warrant Activity (De

Summary of Warrant Activity (Details) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Equity [Abstract]
Number of shares, outstanding and exercisable beginning balance	5,529,409	5,529,409
Weighted average exercise price, outstanding and exercisable beginning balance	$ 0.0429	$ 0.0429
Weighted average remaining contractual life (years), outstanding and exercisable	1 year 4 months 6 days	2 years 7 months 6 days	3 years 4 months 9 days
Number of shares, granted
Number of shares, exercised
Number of shares, expired/canceled
Number of shares, outstanding and exercisable ending balance	5,529,409	5,529,409	5,529,409
Weighted average exercise price, outstanding and exercisable ending balance	$ 0.0429	$ 0.0429	$ 0.0429

Stockholders_ Equity (Details N

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

1 Months Ended

12 Months Ended

Aug. 19, 2020

Oct. 17, 2018

Oct. 01, 2018

Jul. 25, 2018

Mar. 30, 2018

Aug. 10, 2017

Aug. 31, 2018

Jul. 31, 2018

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2022

Mar. 31, 2018

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock payable

$ 50,750

Number of shares in stock payable

750,000

Value of common stock issued for services

$ 84,200

$ 203,000

Stock option granted

Fair value of the options granted

$ 867,715

Average risk-free interest rates

2.30%

Average expected life (in years)

4 years

4 years

Volatility

152%

Warrants granted

Minimum [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Average risk-free interest rates

2.88%

2.30%

Average expected life (in years)

4 years

Volatility

171%

160%

Maximum [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Average risk-free interest rates

2.93%

2.80%

Average expected life (in years)

7 years

Volatility

172%

296%

Common Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of common stock shares issued for services

4,250,000

3,000,000

Value of common stock issued for services

$ 425

$ 300

Warrant [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Warrants granted

347,512

Warrants exercise price

$ 0.075

Warrants exercise period

3 years

Fair value of warrants

$ 8,825

2017 Stock Incentive Plan [Member] | Common Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock option vested

5,233,333

Stock option vested, value

$ 654,167

2018 Equity Incentive Plan [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Common stock reserved for issuance

8,000,000

Quick Capital LLC [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of common stock shares issued for services

2,200,000

500,000

Value of common stock issued for services

$ 13,485

$ 20,000

Stock option granted, price per share

$ 0.04

Officer [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of shares in stock payable

750,000

Chief Executive Officer [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock authorized for issuance

2,500,000

Number of common stock shares issued for services

500,000

1,000,000

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

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock option expected to vest

1,083,342

1,166,667

Unvested shares, value

$ 145,833

Chief Executive Officer [Member] | Every Quarter From July 1, 2021 To October 1, 2023 [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock authorized for issuance

250,000

Chief Financial Officer [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock authorized for issuance

2,500,000

Number of common stock shares issued for services

500,000

1,000,000

Chief Financial Officer [Member] | 2017 Stock Incentive Plan [Member] | Common Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock option expected to vest

1,083,342

Chief Financial Officer [Member] | Every Quarter From July 1, 2021 To October 1, 2023 [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock authorized for issuance

250,000

Chief Operating Officer [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock authorized for issuance

1,000,000

1,000,000

Number of common stock shares issued for services

250,000

1,000,000

Chief Operating Officer [Member] | Every Quarter From July 1, 2022 To April 1, 2023 [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of stock authorized for issuance

250,000

Officer [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of common stock shares issued for services

1,250,000

3,000,000

Value of common stock issued for services

$ 85,750

$ 203,000

Officer One [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of common stock shares issued for services

3,000,000

Value of common stock issued for services

$ 49,200

Per share price

$ 0.0164

Chief Executive Officer One [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of common stock shares issued for services

1,000,000

Chief Financial Officer One [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Number of common stock shares issued for services

2,000,000

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

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock option granted, price per share

$ 0.125

Stock option granted

6,400,000

Stock option granted, value

$ 800,000

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

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock option granted

1,810,000

Stock option exercise period description

exercisable for a period of seven years

Stock option exercise price

$ 0.54

Director and Consultant [Member] | 2018 Equity Incentive Plan [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock option granted

150,000

Stock option exercise period description

exercisable for a period of seven years

Stock option exercise price

$ 0.38

Officers/Directors [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock option granted

800,000

500,000

Stock option exercise period description

exercisable for a period of seven years

exercisable for a period of seven years

Stock option exercise price

$ 0.655

$ 0.48

Three Officers [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Stock option granted

5,000,000

Stock option expected to vest

1,666,666

Stock option vested

3,333,334

Stock option exercise period description

seven-year period from the date of grant

Stock option exercise price

$ 0.08

Convertible Notes Payable (Deta

Convertible Notes Payable (Details Narrative)				1 Months Ended	12 Months Ended
	Feb. 14, 2024 USD ($) $ / shares shares	Jan. 18, 2022 USD ($) $ / shares shares	Nov. 24, 2020 USD ($) d $ / shares shares	May 31, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2022 $ / shares	Oct. 31, 2020 USD ($)
Short-Term Debt [Line Items]
Proceeds from convertible note					$ 20,000
Conversion price | $ / shares					$ 0.02
Unamortized debt discount premium					$ 0	0
Amortization of discount					$ 48,163	49,763
Accrued interest rate					18%
Amortization of convertible notes					$ 8,963	21,489
Beneficial conversion feature					20,800
Related Party [Member]
Short-Term Debt [Line Items]
Unamortized debt discount premium					0	8,963
Convertible notes payable					65,000	$ 56,037
Warrant [Member]
Short-Term Debt [Line Items]
Exercise price of warrants | $ / shares							$ 0.075
Quick Capital LLC [Member]
Short-Term Debt [Line Items]
Share price | $ / shares						$ 0.04
Note Purchase Agreement [Member] | Quick Capital LLC [Member]
Short-Term Debt [Line Items]
Lending amount		$ 170,454			170,454
Proceeds from convertible note		146,750
Legal fees		$ 3,250
Original issuance discount rate		12%
Original issuance discount amount		$ 20,454
Conversion price | $ / shares		$ 0.035		$ 0.04
Amortization of discount						$ 28,274
Debt maturity date				Jun. 30, 2023
Accrued interest rate				12%
Debt shares issued | shares				500,000
Debt shares issued, value				$ 20,000
Accrued interest					29,308
Note Purchase Agreement [Member] | Quick Capital LLC [Member] | Convertible Promissory Note [Member]
Short-Term Debt [Line Items]
Lending amount	$ 24,444				24,444
Proceeds from convertible note	20,000
Legal fees	$ 2,000
Original issuance discount rate	10%
Original issuance discount amount	$ 2,444
Number of common stock restricted shares | shares	2,200,000
Conversion price | $ / shares	$ 0.02
Amortization of discount					18,400
Accrued interest rate	12%
Accrued interest					1,090
Default interest rate	24%
Value of common stock restricted shares	$ 13,485
Note Purchase Agreement [Member] | Quick Capital LLC [Member] | Warrant [Member]
Short-Term Debt [Line Items]
Number of common stock restricted shares | shares		500,000
Warrants exercisable period		3 years
Number of warrants to purchase shares | shares		347,512
Exercise price of warrants | $ / shares		$ 0.075
Financing Arrangement [Member] | Stockholder [Member]
Short-Term Debt [Line Items]
Advance amount			$ 25,000
Financing Arrangement [Member] | Related Party [Member]
Short-Term Debt [Line Items]
Unamortized debt discount premium					8,963	8,963
Convertible notes payable					$ 65,000	$ 56,037
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member]
Short-Term Debt [Line Items]
Debt maturity date			Nov. 24, 2023
Accrued interest rate			8%
Debt maturity term			3 years
Share price | $ / shares			$ 0.037631
Trading days | d			10
Fair value of notes payable			$ 65,000
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class A Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants | $ / shares			$ 0.040265
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class B Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants | $ / shares			0.043276
Financing Arrangement [Member] | Chief Executive Officer and Shareholder [Member] | Class C Warrants [Member]
Short-Term Debt [Line Items]
Exercise price of warrants | $ / shares			$ 0.045157
Financing Arrangement [Member] | Chief Executive Officer [Member]
Short-Term Debt [Line Items]
Lending amount			$ 40,000
Advance amount			$ 25,000					$ 15,000
Financing Arrangement [Member] | Warrant [Member] | Chief Executive Officer and Shareholder [Member]
Short-Term Debt [Line Items]
Warrants exercisable period			5 years
Number of warrants outstanding | shares			5,181,897

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Nov. 24, 2020
Related Party Transaction [Line Items]
Aggregate fair value of stock payable		$ 50,750
Number of shares in stock payable		750,000
Common stock issued to officers	84,200	$ 203,000
Unamortized debt discount premium	$ 0	$ 0
Kanativa Inc [Member]
Related Party Transaction [Line Items]
Number of common stock shares issued	24,000,000
Ownership percentage	100%
Common Stock [Member]
Related Party Transaction [Line Items]
Common stock issued to officers, shares	4,250,000	3,000,000
Common stock issued to officers	$ 425	$ 300
Related Party [Member]
Related Party Transaction [Line Items]
Due to officer	58,400	45,000
Convertible notes payable	65,000	56,037
Unamortized debt discount premium	0	8,963
Related Party [Member] | Financing Arrangement [Member]
Related Party Transaction [Line Items]
Convertible notes payable	65,000	56,037
Unamortized debt discount premium	8,963	$ 8,963
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Working capital	58,400
Working capital advances	$ 13,400
Imputed interest on advance rate	10%	10%
Imputed interest amount	$ 4,871	$ 4,500
Number of stock authorized for issuance	2,500,000
Common stock issued to officers, shares	500,000	1,000,000
Chief Executive Officer [Member] | Every Quarter From July 1, 2021 To October 1, 2023 [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	250,000
Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	2,500,000
Common stock issued to officers, shares	500,000	1,000,000
Chief Financial Officer [Member] | Every Quarter From July 1, 2021 To October 1, 2023 [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	250,000
Chief Operating Officer [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	1,000,000		1,000,000
Common stock issued to officers, shares	250,000	1,000,000
Chief Operating Officer [Member] | Every Quarter From July 1, 2022 To July 1, 2023 [Member]
Related Party Transaction [Line Items]
Number of stock authorized for issuance	250,000
Chief Executive Officer and Shareholder [Member] | Financing Arrangement [Member]
Related Party Transaction [Line Items]
Fair value of notes payable				$ 65,000

Schedule of Deferred Tax Asset

Schedule of Deferred Tax Asset and Valuation Account (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Net operating loss carryforward (at combined 24% statutory rate of 21% Federal and 3% State)	$ 726,195	$ 688,923
Valuation allowance	(726,195)	(688,923)
Total

Schedule of Deferred Tax Asse_2

Schedule of Deferred Tax Asset and Valuation Account (Details) (Parenthetical)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Operating loss carryforward percentage	24%	24%
Fedral statutory income tax rate, percentage	21%	21%
State statutory income tax rate, percentage	3%	3%

Schedule of Income Tax Expense

Schedule of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Change in net operating loss benefit	$ (37,272)	$ (38,232)
Change in valuation allowance	37,272	38,232
Total

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	12 Months Ended
	Jun. 30, 2024 USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 3,018,000
Operating loss carryforwards expiration date description	The available net operating loss carry forwards expire in various years through 2043. 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.

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)		1 Months Ended	12 Months Ended
	Jan. 18, 2022	Oct. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	May 31, 2023
Subsequent Event [Line Items]
Simple interest rate			18%
Proceeds from convertible note			$ 20,000
Conversion price			$ 0.02
Note Purchase Agreement [Member] | Quick Capital LLC [Member]
Subsequent Event [Line Items]
Principal amount	$ 170,454		$ 170,454
Simple interest rate					12%
Proceeds from convertible note	146,750
Legal fees	$ 3,250
Original issuance discount rate	12%
Original issuance discount amount	$ 20,454
Conversion price	$ 0.035				$ 0.04
Subsequent Event [Member] | Note Purchase Agreement [Member] | Quick Capital LLC [Member]
Subsequent Event [Line Items]
Principal amount		$ 12,222
Simple interest rate		12%
Default interest rate		24%
Proceeds from convertible note		$ 10,000
Legal fees		$ 1,000
Original issuance discount rate		10%
Original issuance discount amount		$ 1,222
Conversion price		$ 0.01
Number of restricted shares issued		300,000
Chief Executive Officer [Member]
Subsequent Event [Line Items]
Working capital			$ 58,400
Chief Executive Officer [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Working capital		$ 10,000