Income Statement

v3.8.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
REVENUES    
Advertising revenues $ 332,017
Hardware revenues 110,720 57,710
Hardware revenues - related party 1,196,552 4,313,046
Service related revenues - related party 506,695
Software revenues - related party 66,456 136,705
TOTAL REVENUES 1,705,745 5,014,156
COST OF REVENUES 1,922,611 4,488,001
GROSS (LOSS) PROFIT (216,866) 526,155
EXPENSES    
General and administrative 3,162,229 2,153,432
Research and development 300,905 311,798
TOTAL OPERATING EXPENSES 3,463,134 2,465,230
LOSS FROM OPERATIONS (3,680,000) (1,939,075)
OTHER INCOME (EXPENSE)    
Derivative liability expense - insufficient shares (85,960)
Change in fair value of derivative 63,372 18,868
Gain on forgiveness of debt 597,312
Loss on settlement of debt (48,000)
Loss on debt extinguishment (2,865,234)
Amortization of debt and warrant discount and financing costs (2,468,355) (913,544)
Other income 2,053
Interest expense (1,192,145) (1,017,236)
TOTAL OTHER EXPENSE (3,645,128) (4,263,741)
LOSS BEFORE INCOME TAXES (7,325,128) (6,202,816)
Income tax expense
NET LOSS $ (7,325,128) $ (6,202,816)
NET LOSS PER COMMON SHARE    
Basic and diluted $ (0.07) $ (0.08)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING    
Basic and diluted 105,726,140 80,098,932

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