General form of registration statement for all companies including face-amount certificate companies

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (3,453,142) $ (2,742,049) $ (4,412,063) $ (4,598,343)
Adjustments to reconcile net loss to net cash used in operations activities:        
Stock issued for services 132,273 70,897 308,768 345,656
Amortization of debt discount 787,217 1,270,943 1,709,759 1,794,359
Amortization of intangible assets 500,000 500,000
Warrants for services 126,555    
Deferred financing fees 102,800 39,493 159,572
Warrants issued for services     67,990 44,826
Loss on debt extinguishment upon note conversion, net     395,781  
Change in derivative liability 887,301 (612,093) (858,774) 795,699
Gain on extinguishment of debt upon notes conversion (54,819)    
Stock issued for interest 204,391 82,952 88,762 95,805
Impairment expense related to intangible assets 500,000    
Impairment expense     500,000
Change in operating assets and liabilities:        
(Increase) decrease in accounts receivable 16,980 (5,838) (15,927) (45,086)
(Increase) decrease in inventory (69,309) 120,560 130,834 (303,230)
(Increase) in other current assets 146,333 (579,746) (397,085) 2,210
Increase in accounts payable 107,107 50,173 122,673 344,878
Increase (decrease) in accrued expenses 243,881 (24,000) 168,626 (44,001)
Net cash used in operating activities (841,133) (1,328,708) (1,531,084) (1,567,227)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Cash paid for purchase of intangible asset (333,333) (333,333)
Net cash provided by investing activities (333,333) (333,333)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from the sale of stock    
Proceeds from the sale of common stock     50,000
Proceeds from the issuance of debt-net 720,000 1,737,000 2,028,000 1,602,005
Borrowings under line of credit 5,000    
Repayment to Shareholders    
Repayment of convertible debt (102,076)
Repayment of related party advance    
Repayment of short-term debt (3,308) 3,897 (1,000)
Net cash provided by financing activities 716,692 1,742,000 2,031,897 1,548,929
NET INCREASE IN CASH AND CASH EQUIVALENTS (124,442) 79,959 167,480 18,298
Cash and cash equivalents, beginning of year 197,622 30,142 30,142 48,440
Cash and cash equivalents, end of year 73,181 110,101 197,622 30,142
Cash Paid For:        
Interest 248,940
Income taxes
Summary of Non-Cash Investing and Financing Information:        
Initial derivative liability and debt discount 512,993 1,463,278 1,684,711 1,482,314
Stock issued for conversion of debt     961,000 1,327,953
Derivative liability reclassed to loss on extinguishment of debt upon notes conversion 1,716,114 581,219
Intangible assets acquired and adjusted in accounts payable balance 666,667 666,667
Stock issued for debt conversion 1,314,298 911,000    
Stock issued for interest 153,334 82,952 $ 88,762 $ 95,805
True-up adjustment in debt discount and derivative liability $ 37,360