CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) |
12 Months Ended | |
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Jun. 30, 2022 |
Jun. 30, 2021 |
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CONSOLIDATED STATEMENTS OF OPERATIONS | ||
Revenues | $ 0 | $ 25,000 |
Operating expenses: | ||
Selling, general and administrative | 4,316,191 | 3,879,158 |
Development expense | 361,298 | 258,168 |
Total operating expenses | 4,677,489 | 4,137,326 |
Loss from operations | (4,677,489) | (4,112,326) |
Other income (expense) | ||
Gain on change in fair value of derivative liabilities | 1,119 | 1,844,460 |
Derivative liability expense | 0 | (1,059,282) |
Interest expense | (705,075) | (442,171) |
Gain (loss) on debt settlement | 187,930 | (28,863) |
Gain on debt write off | 0 | 578,408 |
Warrant exercise expense | 0 | (211,411) |
Total other income (expense) | (516,026) | (738,867) |
Net loss | $ (5,193,515) | $ (3,373,459) |
Weighted average common shares | ||
Basic and diluted | 2,505,011 | 1,467,777 |
Net loss Per Common Share -Basic and Diluted: | $ (2.07) | $ (2.30) |
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of gain (loss) recognized in settlement of litigation and insurance claims. Excludes claims within an insurance entity's normal claims settlement process. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Derivative liability expense. No definition available.
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- References No definition available.
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- References No definition available.
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