Stock Warrants

12 Months Ended

Jun. 30, 2021

Equity [Abstract]

Stock Warrants

26. Stock Warrants

On September 7, 2018, the Company entered a settlement agreement with several investors to settle all disputes by issues additional unrestricted shares. In connection with the note each individual investor will also receive warrants equal to the number of the shares the investors own as of the effective date of the settlement agreement. The warrants have a life of five years with an exercise price as of the date of exchange. The fair value of the warrants at the grant date was $56,730. As of June 30, 2021 and June 30, 2020, the fair value of the warrant liability was $1,042 and $1,910, respectively.

On February 4, 2020, the Company entered a warrant agreement with an accredited investor up to 10,000,000 shares of common stock of the Company at exercise price of $0.008 per share, subject to adjustment. The warrants have a life of five years with an exercise price as of the date of exchange. The fair value of the warrants at the grant date was $80,000. As of June 30, 2021 and 2020, the fair value of the warrant liability was $20,000 and $78,000, respectively.

As of June 30, 2021 and June 30, 2020, the total fair value of the warrant liability was $21,042 and $79,910, respectively.

The Binomial model with the following assumption inputs:

Warrants liability:	June 30, 2020
Annual dividend yield		—
Expected life (years)		3.0-5.0
Risk-free interest rate		0.18-1.69	%
Expected volatility		137-318	%

Warrants liability:	June 30, 2021
Annual dividend yield		—
Expected life (years)		2.0-4.0
Risk-free interest rate		0.18-0.46	%
Expected volatility		132-166	%

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining contractual life
Outstanding at June 30, 2019		1,083,880		$	0.034		5
Expired		(505,000	)		0.15
Granted		1,000,000			0.008		5
Outstanding at June 30, 2020		1,578,880		$	0.021		4
Expired		-
Granted		-
Outstanding at June 30, 2021		1,578,880		$	0.026		3