Quarterly report pursuant to Section 13 or 15(d)

Organization and Basis of Presentation (Tables)

v3.7.0.1
Organization and Basis of Presentation (Tables)
9 Months Ended
Mar. 31, 2017
Organization and Basis of Presentation [Abstract]  
Summary of fair value measurements
    Carrying     Fair Value Measurements 
Using Fair Value Hierarchy
 
    Value     Level 1     Level 2     Level 3  
Convertible notes (net of discount) – March 31, 2017   $ 6,568,572     $       -     $       -     $ 6,568,572  
Convertible notes (net of discount) – June 30, 2016   $ 6,415,371     $ -     $ -     $ 6,415,371  
Derivative liability – March 31, 2017   $ 427,824     $ -     $ -     $ 427,824  
Derivative liability – June 30, 2016   $ 188,128     $ -     $ -     $ 188,128  
Summary of changes in fair value
Balance at June 30, 2016   $ 6,415,371  
Issuance of notes – net of discount     355,000  
Derivative liability on issuance of notes     (304,906 )
Accretion of debt and warrant discount and prepaid financing costs     1,483,437  
Issuance of shares of common stock for convertible debt     (1,380,330 )
Balance March 31, 2017   $ 6,568,572  
Summary of derivative liability activity
Balance at June 30, 2016   $ 188,128  
Derivative liability reclass into additional paid in capital upon notes conversion     (125,710 )
Initial measurement at issuance date of the notes     409,240  
Change in fair value of derivative at period end     (43,834 )
Balance March 31, 2017   $ 427,824  
Summary of anti-dilutive securities not included in diluted loss per share
Anti-dilutive securities not included in diluted loss per share relating to:      
Warrants outstanding     333,333  
Options vested and outstanding     -  
Convertible debt and notes payable including accrued interest     17,454,009