Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Income Statement [Abstract]    
Revenues, net of slotting and promotion $ 701,246 $ 241,673
Operating expenses    
Cost of product sold 721,777 472,131
Amortization of intangible assets 500,000
Impairment of intangible assets 500,000
Advertising and promotional 588,172 403,639
Selling, general and administrative 479,881 406,072
Professional fees 1,421,045 683,706
Total operating expenses 3,210,875 2,965,548
Loss from operations (2,509,629) (2,723,875)
Other (income) and expenses    
(Gain) on accounts payable settlement (715,075)
Interest expense – bank debt 1,012 463
Interest expense – shareholder 177,693 281,387
Interest expense – other 102,800 159,572
Loss (Gain) on debt extinguishment upon note conversion, net 2,100,405 395,781
(Gain) on debt extinguishment upon refinancing (658,080)  
Change in fair value of derivative liability (853,329) (858,774)
Amortization of Beneficial Conversion Feature 814,769 1,709,759
Total other (income) and expenses 970,195 1,688,188
Provision for income tax
Net loss (3,479,824) (4,412,063)
Deemed dividend on Series B Stock 4,085,925
Net loss attributable to common stockholders $ (7,565,749) $ (4,412,063)
Basic and diluted net loss per common share (in Dollars per share) $ (0.11) $ (0.08)
Weighted average shares of capital outstanding – basic and diluted (in Shares) 71,090,407 57,443,347