Derivative Liabilities

6 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative liabilities

19. Derivative liabilities

The derivative liability is derived from the conversion features in note 8 and stock warrant in note 10. All were valued using the weighted-average Binomial option pricing model using the assumptions detailed below. As of December 31, 2020 and June 30, 2020, the derivative liability was $1,595,186 and $5,597,095, respectively. The Company recorded $3,992,108 and $1,442,295 loss from changes in derivative liability during the period ended December 31, 2020 and June 30, 2020, respectively. The Binomial model with the following assumption inputs:

	December 31, 2020
Annual dividend yield	—
Expected life (years)	0.2-1.00
Risk-free interest rate	0.09-0.16	%
Expected volatility	89-187	%

	June 30, 2020
Annual dividend yield	—
Expected life (years)	0.5-1.00
Risk-free interest rate	0.16-2.10	%
Expected volatility	113-175	%

Fair value of the derivative is summarized as below:

Beginning Balance, June 30, 2020	$	5,597,095
Additions		2,326,977
Cancellation of Derivative Liabilities Due to Cash Repayment		(228,489	)
Cancellation of Derivative liabilities Due to Share Reservation		(214,757	)
Mark to Market		(3,763,618	)
Reclassification to APIC due to conversions		(2,122,022	)
Ending Balance, December 31, 2020	$	1,595,186

Beginning Balance, June 30, 2019	$	2,991,953
Additions		3,538,927
Mark to Market		2,314,089
Reclassification to APIC due to conversions		(957,488	)
Ending Balance, December 31, 2019	$	3,259,345