Stock Warrants

6 Months Ended

Dec. 31, 2022

Stock Warrants

Stock Warrants

22. 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 December 31, 2022 and June 30, 2022, the fair value of the warrant liability was $116 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 December 31, 2022 and June 30, 2022, the fair value of the warrant liability was $1,000 and $2,000, respectively.

As of December 31, 2022 and June 30, 2022, the total fair value of the warrant liability was $1,116 and $3,100, respectively.

On November 14, 2022, the Company entered into a warrant agreement with an accredited investor for up to 1,773,333,333 shares of common stock of the Company at an exercise price of $0.0003 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 $532,000.

On November 14, 2022, the Company entered into a warrant agreement with an accredited investor for up to 95,600,000 shares of common stock of the Company at an exercise price of $0.0003 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 $28,680.

As of December 31, 2022 and June 30, 2022, the total fair value of the warrant cost under equity was $560,680 and $0, 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:	December 31, 2022
Annual dividend yield		—
Expected life (years)		1.0-5.0
Risk-free interest rate		4.05-4.73	%
Expected volatility		186-327	%

	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		1,868,933,333	$	0.0003		5
Outstanding at December 31, 2022		1,879,512,213	$	0.015		4