Annual report pursuant to Section 13 and 15(d)

Convertible Notes Payable

v3.10.0.1
Convertible Notes Payable
12 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Convertible Notes Payable
8. Convertible Notes Payable Convertible Notes Payable consist of the following at June 30, 2018,

 

     

On February 8, 2017 the Company issued $32,500 in convertible notes to an investor group. The notes had a maturity of six (6) months and interest rate of 8% per annum and were convertible at a price of 80% of the average closing bid prices on the primary trading market on which the Company’s Common Stock was then listed for the twenty (20) trading days immediately prior to conversion. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital.

 

As previously disclosed, this note was assigned to a third party that is not affiliated with Black Forest during fiscal year 2017. At such time, the maturity date of the note was extended to June 30, 2018. On August 10, 2017, the Company entered into a Forbearance Agreement with SkyBridge Ventures LLC, whereby the date of conversion eligibility for a $35,000 note held by SkyBridge was changed from August 8, 2017 to September 12, 2017. In addition, the note became convertible at a price of 50% of the lowest trading price of the Company’s Common Stock during the twenty (20) trading days immediately prior to conversion. During the quarter the remaining balance of this note was converted into stock at a conversion price of $.04505.

 

This note has been successfully retired.

 

     

On March 16, 2017 the Company issued $75,000 in convertible notes to an investor group. The notes had a maturity of one (1) year and interest rate of 12% per annum and were convertible at a price of 50% of the average closing bid prices on the primary trading market on which the Company’s Common Stock was then listed for the twenty (20) trading days immediately prior to conversion. The note had the option to be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price.

 

On September 12, 2017 the Company successfully retired this convertible promissory note dated March, 16, 2017, in the original principal amount of $75,000.

 

This note has been successfully retired.

       
     

On March 20, 2017 the Company issued $80,000 in convertible notes to an investor group. The notes had a maturity of nine (9) months and interest rate of 12% per annum and were convertible at a price of 60% of the average of the two lowest trade prices on the primary trading market on which the Company’s Common Stock was then listed for the twenty-five (25) trading days immediately prior to conversion. The note had an option to be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash.

 

During the first quarter of Fiscal Year 2018, this note was sold to another party who increased the value by $4,576 and extended the maturity to December 20, 2017. In addition, the discount was adjusted to 50% of the lowest trading price of the stock during the previous 20 trading days. During the second quarter of 2018 there were several conversions of this note into common stock ranging between $0.03 to $0.06 per share. There was a balance on this note as of June 30, 2018 of $2,076.

 

As of the time of this filing, this note has been successfully retired.

 

     

On March 23, 2017 the Company issued $87,500 in convertible notes to an investor group. The notes had a maturity of six (6) months and interest rate of 8% per annum and were convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock was then listed for the twenty (20) trading days immediately prior to conversion. The note had an option to be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature (BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital.

 

During the first quarter of Fiscal Year 2018 this note was sold to another party who increased the value by $7,500 and extended the maturity to June 30, 2018. The Company also determined there was an additional beneficial conversion feature (BCF ) as a result of the intrinsic value between the effective exercise price and the market price at the time of conversion of the sale of $95,000. The added BCF was included in additional paid in capital. During the third quarter the entire open balance of this note was converted into stock at a price of $0.04505 per share.


This note has been successfully retired.

       
     

On May 10, 2017 the Company issued $80,000 in convertible notes to an investor group. The notes had a maturity of nine (9) months and interest rate of 12% per annum and were convertible at a price of 60% of the average of the two lowest trade prices on the primary trading market on which the Company’s Common Stock was then listed for the twenty-five (25) trading days immediately prior to conversion. The note had the option to be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature (BCF) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital.

 

During the second quarter of Fiscal Year 2018 this note was sold to another party who increased the value by $4,602.74 and extended the maturity to November 6, 2018. The conversion rate was reduced to 50%, look-back date changed from twenty-five days to twenty and the interest rate was reduced to 8%. In addition the Company paid approximately $42,000 as consideration for this transfer. This balance of this note was converted into stock during the third quarter at a price of $0.04505 per share.


This note has been successfully retired.

       
     

On May 16, 2017 the Company issued $75,000 in convertible notes to an investor group. The notes had a maturity of one (1) year and interest rate of 12% per annum and were convertible at a price of 50% of the average closing bid prices on the primary trading market on which the Company’s Common Stock was then listed for the twenty (20) trading days immediately prior to conversion. The note had the option to be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital.

 

During the second quarter of Fiscal Year 2018 this note was sold to another party who increased the value by $4,216.44 and extended the maturity to November 6, 2018. The conversion rate was reduced to 50%, look-back date changed from twenty-five days to twenty and the interest rate was reduced to 8%. In addition the Company paid approximately $40,000 as consideration for this transfer. This balance of this note was converted into stock in two tranches during the fourth quarter at a price of $0.09 per share.

 

This note has been successfully retired.

 

     

On July 31, 2017, the Company entered into a convertible promissory note and a security purchase agreement dated July 31, 2017 and funded on August 1, 2017, in the amount of $100,000. The lender was Labrys Fund, LP.  As part of this transaction, the Company issued Labrys a block of 400,650 “Commitment Shares”.  These shares, although issued to Labrys, were to be returned to the Company should the Company pay off the note prior to the 6 month maturity date.  In September of 2017, to facilitate the issuance of additional operating capital, the Company and Labrys agreed that Labrys shall be entitled to keep 100,000 of the 400,650 Commitment Shares in the event of a timely retirement of the debt. The notes had an interest rate of 12% per annum and were convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock was then listed for the twenty five (25) trading days immediately prior to conversion. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price at the time of conversion of $100,000. The BCF was included in additional paid in capital. During the third quarter this note was paid off and Labrys returned 200,650 shares of stock to the Company in accordance with the original agreement.

 

This note has been successfully retired.

 

     

On September 5, 2017 the Company entered into a convertible promissory note and a security purchase agreement dated September 5, 2017 and funded on September 12, 2017, in the amount of $75,000. The lender was JSJ Investments, Inc. The notes had a maturity of June 5, 2018 and interest rate of 12% per annum and were convertible at a price of 55% of the average of the two lowest trading prices on the primary trading market on which the Company’s Common Stock was then listed for the twenty (20) trading days immediately prior to conversion. The note had the option to be prepaid, but carries a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price.

 

This note has been successfully retired.

       
      On September 8, 2017, the Company entered into a convertible promissory note and a security purchase agreement dated September 8, 2017 and funded on September 12, 2017, in the amount of $222,750. The lender was Eagle Equities, LLC. The notes have a maturity of September 8, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. During the fourth quarter there were two note conversions for an aggregate total of $150,000 leaving a balance at the end of the year of $72,750 As of June 30, 2018, the BCF was $42,719.

 

     

On September 21, 2017, the Company entered into a convertible promissory note and a security purchase agreement in the amount of $66,500. The lender was Labrys Fund, LP. The notes had a maturity date of March 21, 2018 and an interest rate of 12% per annum and were convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock was then listed for the twenty five (25) trading days immediately prior to conversion. The note had the option to be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. During the third quarter this note was paid off.

 

This note has been successfully retired

       
     

On October 18, 2017, the Company entered into a convertible promissory note and a security purchase agreement dated October 18, 2017, in the amount of $52,500. The lender was Eagle Equities, LLC. The notes had a maturity of October 18, 2018 and interest rate of 8% per annum and were convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock was then listed for the twenty (20) trading days immediately prior to conversion. The note had the option be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. This balance of this note was converted into stock during the fourth quarter at a price of $0.13495 per share.

 

This note has been successfully retired.

       
     

On November 3, 2017, the Company entered into a three-month consulting agreement with Regal Consulting for corporate communications services valued at $20,000 monthly. Regal was compensated $10,000 in cash monthly for services provided. In addition, the Company issued Regal a six month note for $30,000, which the Company had the right to prepay at any time. Should the note not be repaid after 180 days, Regal would have had the option to convert the debt to equity at a discount to the then market price.

 

The note had a maturity date of May 3, 2018 and an interest rate of 10% per annum and was convertible at a price of 65% of the three lowest trades on the primary trading market on which the Company’s Common Stock is then listed for the ten (10) trading days immediately prior to conversion or $0.11 whichever is lower. The note had the option to be prepaid, but carries a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital.

 

This note has been successfully retired.

 

      On November 6, 2017, the Company entered into a convertible promissory note and a security purchase agreement dated November 6, 2017, in the amount of $48,647. The lender was Eagle Equities, LLC. The notes have a maturity of November 6, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $17,193.
       
      On November 6, 2017, the Company entered into a convertible promissory note and a security purchase agreement dated November 6, 2017, in the amount of $45,551. The lender was Eagle Equities, LLC. The notes have a maturity of November 6, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $16,099.
       
     

On November 7, 2017 the Company entered into a convertible promissory note and a security purchase agreement (SPA) dated November 7, 2017. The SPA was for a total of $315,000, consisting of four tranches of funding, each equal to $78,750. The parties closed on the first tranche. The Company elected not to receive any further tranches.

 

On November 7, 2017, the Company entered into a convertible promissory note a security purchase agreement dated November 7, 2017, in the amount of $78,750. The lender was Adar Bay, LLC. The notes had a maturity of November 7, 2018 and interest rate of 8% per annum and were convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock was then listed for the twenty (20) trading days immediately prior to conversion. The note had the option to be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. This note was retired during the fourth quarter.

 

This note has been successfully retired

       
     

On November 15, 2017 the Company entered into a convertible promissory note and a security purchase agreement (SPA) dated November 15, 2017. The SPA was for a total of $150,000, consisting of two tranches of funding, each equal to $75,000. The parties closed on the first tranche. There can be no assurance that the Company will receive any further tranches.

 

On November 15, 2017, the Company entered into a convertible promissory note a security purchase agreement dated November 15, 2017, in the amount of $75,000. The lender was Eagle Equities, LLC. The notes have a maturity of November 15, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $28,356.

 

   

On December 6, 2017, the Company entered into a convertible promissory note and a security purchase agreement in the amount of $56,000. The lender was Labrys Fund, LP. The notes had a maturity date of June 6, 2018 and an interest rate of 12% per annum and were convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock was then listed for the twenty-five (25) trading days immediately prior to conversion. The note had the option to be prepaid, but carried a penalty in association with the remittance amount, as there was an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. This note was retired during the fourth quarter.

 

This note has been successfully retired.

       
      On December 27, 2017, the Company entered into a convertible promissory note and a security purchase agreement dated December 27, 2017, in the amount of $60,000. The lender was Eagle Equities, LLC. The notes have a maturity of December 27, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $30,084.
       
      On January 10, 2018, the Company entered into a convertible promissory note and a security purchase agreement dated January 10, 2018, in the amount of $110,000. The lender was Eagle Equities, LLC. The notes have a maturity of January 10, 2019 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $58,466.
       
      On January 31, 2018, the Company received funding in conjunction with a convertible promissory note and a security purchase agreement dated September 8, 2017, in the amount of $210,000. The lender was Eagle Equities, LLC. The notes have a maturity of September 8, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $66,818.

 

     

On February 3, 2018, the Company entered into a six-month consulting agreement with Regal Consulting for corporate communications services valued at $260,000 over this period of time. Regal was compensated $10,000 in cash monthly for services provided, resulting in total cash payments of $60,000. In addition, the Company issued Regal a six month note for $200,000, which the Company had the right to prepay at any time. Should the note not be repaid after 180 days, Regal would have had the option to convert the debt to equity at a discount to the then market price.

 

The notes had a maturity date of August 3, 2018 and an interest rate of 10% per annum and were convertible at a price of 65% of the three lowest trades on the primary trading market on which the Company’s Common Stock was then listed for the ten (10) trading days immediately prior to conversion or $0.44 whichever is lower. The note had an option be prepaid, but carried a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. During the Fourth quarter the Company paid $100,000 on the note and entered into an agreement to terminate the debt conversion feature of this note. The balance outstanding as of June 30th is $100,000.

 

This note has been successfully retired.

       
      On March 2, 2018, the Company received funding in conjunction with a convertible promissory note and a security purchase agreement dated November 15, 2017, in the amount of $75,000. The lender was Eagle Equities, LLC. The notes have a maturity of November 15, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $40,116.
       
      On March 2, 2018, the Company received funding in conjunction with a convertible promissory note and a security purchase agreement dated December 27, 2017, in the amount of $60,000. The lender was Eagle Equities, LLC. The notes have a maturity of December 27, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $36,000.
       
      On March 2, 2018, the Company received funding in conjunction with a convertible promissory note and a security purchase agreement dated March 2, 2018, in the amount of $115,000. The lender was Eagle Equities, LLC. The notes have a maturity of March 2, 2019 and interest rate of 8% per annum and are convertible at a price of 70% of the lowest closing bid on the primary trading market on which the Company’s Common Stock is then listed for the ten (10) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $77,192.

 

      On April 10, 2018, the Company entered into a convertible promissory note and a security purchase agreement dated April 10, 2018, in the amount of $62,500. The lender was Eagle Equities, LLC. The notes have a maturity of April 10, 2019 and interest rate of 8% per annum and are convertible at a price of 60% of the lowest closing bid price on the primary trading market on which the Company’s Common Stock is then listed for the fifteen (15) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $48,630.
       
      On April 30, 2018, the Company entered into a convertible promissory note and a security purchase agreement dated April 30, 2018, in the amount of $225,000. The lender was Eagle Equities, LLC. The notes have a maturity of April 30, 2019 and interest rate of 8% per annum and are convertible at a price of 60% of the lowest closing bid price on the primary trading market on which the Company’s Common Stock is then listed for the fifteen (15) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $187,397.
       
      On June 1, 2018, the Company entered into a convertible promissory note and a security purchase agreement dated June 1, 2018, in the amount of $210,000. The lender was Eagle Equities, LLC. The notes have a maturity of June 1, 2019 and interest rate of 8% per annum and are convertible at a price of 60% of the lowest closing bid price on the primary trading market on which the Company’s Common Stock is then listed for the fifteen (15) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $195,457.
       
      On June 18, 2018, the Company received cash in conjunction with a convertible promissory note and Securities Purchase Agreement dated October 18, 2017.  The note was in the amount of in the amount of $52,500. The lender was Eagle Equities, LLC. The notes have a maturity of October 18, 2018 and interest rate of 8% per annum and are convertible at a price of 50% of the lowest trading price on the primary trading market on which the Company’s Common Stock is then listed for the twenty (20) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $47,336.
       
      On June 18, 2018, the Company entered into a convertible promissory note and a security purchase agreement dated June 18, 2018, in the amount of $52,000. The lender was Eagle Equities, LLC. The notes have a maturity of June 18, 2019 and interest rate of 8% per annum and are convertible at a price of 60% of the lowest closing bid price on the primary trading market on which the Company’s Common Stock is then listed for the fifteen (15) trading days immediately prior to conversion. The note may be prepaid, but carries a penalty in association with the remittance amount, as there is an accretion component to satisfy the note with cash. The Company also determined there was a beneficial conversion feature ( BCF ) as a result of the intrinsic value between the effective exercise price and the market price. The BCF is included in additional paid in capital. As of June 30, 2018, the BCF was $50,290.
       
      Below is a reconciliation of the convertible notes payable as presented on the Company’s balance sheet as of June 30, 2018:

 

  Convertible notes payable issued as of June 30, 2017   $ 430,000  
  Convertible notes payable issued as of June 30, 2018   $ 2,316,093  
  Unamortized amortization of debt and beneficial conversion feature     (956,355 )
  Notes paid     (581,250 )
  Notes converted into shares of common stock     (574,618 )
  Balance at June 30, 2018   $ 633,870