Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.2.2
Consolidated Statements of Operations - USD ($)
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]    
Revenues, net of slotting and promotion $ 443,538 $ 701,246
Operating expenses    
Cost of product sold 486,163 721,777
Advertising and promotional 596,331 588,172
Selling, general and administrative 492,713 479,881
Professional fees 797,666 1,421,045
Total operating expenses 2,372,873 3,210,875
Loss from operations (1,929,335) (2,509,629)
Other (income) and expenses    
(Gain) on accounts payable settlement (715,075)
Interest expense – bank debt   1,012
Interest expense – shareholder   177,693
Interest expense – other 48,309 102,800
Interest expense – financing cost 270,210
Loss (Gain) on debt extinguishment upon note conversion, net 2,100,405
(Gain) on debt extinguishment upon refinancing   (658,080)
Change in fair value of derivative liability (853,329)
Amortization of Beneficial Conversion Feature 275,423 814,769
Total other (income) and expenses 593,942 970,195
Provision for income tax
Net loss (2,523,277) (3,479,824)
Deemed dividend on Series B Stock 381,310 4,085,925
Net loss attributable to common stockholders $ (2,904,587) $ (7,565,749)
Basic and diluted net loss per common share (in Dollars per share) $ (0.03) $ (0.11)
Weighted average shares of capital outstanding – basic and diluted (in Shares) 87,521,595 71,090,407