Convertible Notes Payable (Tables)

9 Months Ended

Mar. 31, 2016

Convertible Notes Payable Tables

Schedule of Maturity of Convertible Notes Payable

Following is the five year maturity schedule for our convertible notes payable:

Year ended June 30,	Amount Due
2016	$	911,701
2017	$	589,810
2018	$	—
2019	$	—
2020	$	—

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are as follows at June 30, 2015:

	Total		(Level 1)		(Level 2)		(Level 3)
Liabilities
Derivative liability		1,951,201		—		—		1,951,201
Total liabilities measured at fair value	$	1,951,201	$	—	$	—	$	1,951,201

Schedule of Reconcilation of Derivative Liability

The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value:

Beginning balance as of July 1, 2015	$	1,951,201
Fair value on issuance of debt		426,500
Change on settlement of debt		(5,636,592	)
Loss on change in derivative liability		3,258,891
Ending balance as of December 31, 2015	$	—