Stock Warrants

3 Months Ended

Sep. 30, 2022

Stock Warrants

Stock Warrants

21. Stock Warrants

On September 7, 2018, the Company entered into a settlement agreement with several investors to settle all disputes by issuing 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 September 30, 2022 and June 30, 2022, the fair value of the warrant liability was $58 and $1,100, respectively.

On February 4, 2020, the Company entered into a warrant agreement with an accredited investor for up to 10,000,000 shares of common stock of the Company at an 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 September 30, 2022 and June 30, 2022, the fair value of the warrant liability was $1,000 and $2,000, respectively.

As of September 30, 2022 and June 30, 2022, the total fair value of the warrant liability was $1,058 and $3,100, respectively.

The Binomial model with the following assumption inputs:

Warrants liability:	June 30, 2022
Annual dividend yield		—
Expected life (years)		1.0-3.0
Risk-free interest rate		0.28-2.99	%
Expected volatility		149-174	%

Warrants liability:	September 30, 2022
Annual dividend yield		—
Expected life (years)		1.0-3.0
Risk-free interest rate		4.05-4.22	%
Expected volatility		186-206	%

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining contractual life
Outstanding at June 30, 2021		10,578,880	$	0.026		4
Expired		-
Granted		-
Outstanding at June 30, 2022		10,578,880	$	0.027		3
Expired		-
Granted		-
Outstanding at September 30, 2022		10,578,880	$	0.027		3