Derivative Liabilities

9 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative liabilities

18. 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 March 31, 2021 and June 30, 2020, the derivative liability was $2,301,301 and $5,597,095, respectively. The Company recorded $482,232 gain and $1,442,295 loss from changes in derivative liability during the periods ended March 31, 2021 and June 30, 2020, respectively. The Binomial model with the following assumption inputs:

	March 31, 2021
Annual dividend yield	—
Expected life (years)	0.2-1.00
Risk-free interest rate	0.01-0.19	%
Expected volatility	115-209	%

	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		2,996,017
Cancellation of Derivative Liabilities Due to Cash Repayment		(1,300,107	)
Cancellation of Derivative liabilities Due to Share Reservation		(214,757	)
Mark to Market		(278,070	)
Reclassification to APIC due to conversions		(4,076,280	)
Ending Balance, March 31, 2021	$	2,723,899

Beginning Balance, June 30, 2019	$	2,991,953
Additions		3,999,033
Mark to Market		(2,075,982	)
Reclassification to APIC due to conversions		(1,260,333	)
Ending Balance, March 31, 2020	$	3,706,809