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Significant Accounting Policies (Policies)
9 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Consolidation, Policy [Policy Text Block]
Principles of consolidation:
 
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Bion Integrated Projects Group, Inc. (“Projects Group”), Bion Technologies, Inc., BionSoil, Inc., Bion Services,
PA1,
and
PA2;
and its
58.9%
owned subsidiary, Centerpoint Corporation (“Centerpoint”). All significant intercompany accounts and transactions have been eliminated in consolidation.
 
The accompanying consolidated financial statements have been prepared without an audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements reflect all adjustments (consisting of only normal recurring entries) that, in the opinion of management, are necessary to present fairly the financial position at
March 31, 2021,
the results of operations of the Company for the
three
and
nine
months ended
March 31, 2021
and
2020
and the cash flows of the Company for the
nine
months ended
March 31, 2021
and
2020.
Operating results for the
three
and
nine
months ended
March 31, 2021
are
not
necessarily indicative of the results that
may
be expected for the year ending
June 30, 2021.
Cash and Cash Equivalents, Policy [Policy Text Block]
Cash and cash equivalents:
 
The Company considers all highly liquid investments purchased with an original maturity of
three
months or less to be cash and cash equivalents.
Property, Plant and Equipment, Policy [Policy Text Block]
Property and equipment:
 
Property and equipment are stated at cost and are depreciated, when placed into service, using the straight-line method over the estimated useful lives of the related assets, generally
three
to
twenty
years. The Company capitalizes all direct costs and all indirect incrementally identifiable costs related to the design and construction of its Integrated Projects. The Company reviews its property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset
may
not
be recoverable. An impairment loss would be recognized based on the amount by which the carrying value of the assets or asset group exceeds its estimated fair value, and is recognized as a loss from operations.
Share-based Payment Arrangement [Policy Text Block]
Stock-based compensation:
 
The Company follows the provisions of Accounting Standards Codification (“ASC”)
718,
which generally requires that share-based compensation transactions be accounted and recognized in the statement of operations based upon their grant date fair values.
Derivatives, Policy [Policy Text Block]
Derivative Financial Instruments:
 
Pursuant to ASC Topic
815
“Derivatives and Hedging” (“Topic
815”
), the Company reviews all financial instruments for the existence of features which
may
require fair value accounting and a related mark-to-market adjustment at each reporting period end. Once determined, the Company assesses these instruments as derivative liabilities. The fair value of these instruments is adjusted to reflect the fair value at each reporting period end, with any increase or decrease in the fair value being recorded in results of operations as an adjustment to fair value of derivatives.
Equity Issuances Warrants Policy [Policy Text Block]
Warrants:
 
The Company has issued warrants to purchase common shares of the Company. Warrants are valued using a fair value based method, whereby the fair value of the warrant is determined at the warrant issue date using a market-based option valuation model based on factors including an evaluation of the Company's value as of the date of the issuance, consideration of the Company's limited liquid resources and business prospects, the market price of the Company's stock in its mostly inactive public market and the historical valuations and purchases of the Company's warrants. When warrants are issued in combination with debt or equity securities, the warrants are valued and accounted for based on the relative fair value of the warrants in relation to the total value assigned to the debt or equity securities and warrants combined.
Concentration Risk, Credit Risk, Policy [Policy Text Block]
Concentrations of credit risk:
 
The Company's financial instruments that are exposed to concentrations of credit risk consist of cash. The Company's cash is in demand deposit accounts placed with federally insured financial institutions and selected brokerage accounts. Such deposit accounts at times
may
exceed federally insured limits. The Company has
not
experienced any losses on such accounts.
Minority Interest Policy [Policy Text Block]
Noncontrolling interests:
 
In accordance with ASC
810,
“Consolidation”, the Company separately classifies noncontrolling interests within the equity section of the consolidated balance sheets and separately reports the amounts attributable to controlling and noncontrolling interests in the consolidated statements of operations. In addition, the noncontrolling interest continues to be attributed its share of losses even if that attribution results in a deficit noncontrolling interest balance.
Fair Value Measurement, Policy [Policy Text Block]
Fair value measurements:
 
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market. The Company uses a fair value hierarchy that has
three
levels of inputs, both observable and unobservable, with use of the lowest possible level of input to determine fair value.
 
Level
1
– quoted prices (unadjusted) in active markets for identical assets or liabilities;
 
Level
2
– observable inputs other than Level
1,
quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are
not
active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and
 
Level
3
– assets and liabilities whose significant value drivers are unobservable.
 
Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company's market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability
may
fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment.
 
The fair value of cash and accounts payable approximates their carrying amounts due to their short-term maturities. The fair value of the loan payable is indeterminable at this time due to the nature of the arrangement with a state agency and the fact that it is in default. The fair value of the redeemable preferred stock approximates its carrying value due to the dividends accrued on the preferred stock which are reflected as part of the redemption value. The fair value of the deferred compensation and convertible notes payable - affiliates are
not
practicable to estimate due to the related party nature of the underlying transactions.
Revenue from Contract with Customer [Policy Text Block]
Revenue Recognition:
 
The Company currently does
not
generate revenue and if and when the Company begins to generate revenue the Company will comply with the provisions of Accounting Standards Codification (“ASC”)
606
“Revenue from Contracts with Customers”.
Earnings Per Share, Policy [Policy Text Block]
Loss per share:
 
Basic loss per share amounts are calculated using the weighted average number of shares of common stock outstanding during the period. Diluted loss per share assumes the conversion, exercise or issuance of all potential common stock instruments, such as options or warrants, unless the effect is to reduce the loss per share or increase the earnings per share. During the
three
and
nine
months ended
March 31, 2021
and
2020,
the basic and diluted loss per share was the same, as the impact of potential dilutive common shares was anti-dilutive.
 
The following table represents the warrants, options and convertible securities excluded from the calculation of basic loss per share:
 
   
March 31,
2021
   
March 31,
2020
 
Warrants
   
24,653,567
     
19,393,013
 
Options
   
10,471,600
     
7,716,600
 
Convertible debt
   
10,368,364
     
10,046,039
 
Convertible preferred stock
   
19,750
     
18,750
 
 
The following is a reconciliation of the denominators of the basic and diluted loss per share computations for the
three
and
nine
months ended
March 31, 2021
and
2020:
 
   
Three months
ended
March 31,
2021
   
Three months
ended
March 31,
2020
   
Nine months
ended
March 31,
2021
   
Nine months
ended
March 31,
2020
 
Shares issued – beginning of period
   
32,270,594
     
30,195,005
     
31,409,005
     
28,068,688
 
Shares held by subsidiaries (Note 7)
   
(704,309
)    
(704,309
)    
(704,309
)    
(704,309
)
Shares outstanding – beginning of period
   
31,566,285
     
29,490,696
     
30,704,696
     
27,364,379
 
Weighted average shares issued during the period
   
1,353,526
     
150,242
     
919,613
     
1,269,223
 
Diluted weighted average shares – end of period
   
32,919,811
     
29,640,938
     
31,624,309
     
28,633,602
 
Use of Estimates, Policy [Policy Text Block]
Use of estimates:
 
In preparing the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]
Recent Accounting Pronouncements:
 
The Company continually assesses any new accounting pronouncements to determine their applicability. When it is determined that a new accounting pronouncement affects the Company's financial reporting, the Company undertakes a study to determine the consequences of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company's financial statements properly reflect the change.
 
In
June 2018,
the FASB issued ASU
No.
2018
-
07
“Compensation – Stock Compensation – Improvements to Nonemployee Share-Based Payment Accounting” to simplify the accounting for share based payments granted to nonemployees and was adopted by the Company effective
July 1, 2019.
Under this guidance, payments to nonemployees are aligned with the requirements for share based payments granted to employees. The adoption of this guidance did
not
have a material impact on the Company's financial statements as previously issued share-based payments to nonemployees had already reached a measurement date.