Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

Debt (Tables)

6 Months Ended

Dec. 31, 2023

Schedule of Reconciliation of the Above Debts

Below is a reconciliation of the convertible notes payable as presented on the Company’s balance sheet as of June 30, 2023:

	Principal ($)			Stock-settled Debt ($)			Debt Discount ($)			Net Value ($)
Balance at June 30, 2021	-			-			-			-
Convertible notes payable issued during fiscal year ended June 30, 2022		1,086,957									1,086,957
Debt discount associated with new convertible notes								(1,018,229	)		(1,018,229	)
Conversion price adjusted from $0.25 to $0.20					217,391			(217,391	)		-
Amortization of debt discount								275,423			275,423
Balance at June 30, 2022		1,086,957			217,391			(960,197	)		344,151
Cash repayment		(362,319	)								(362,319	)
Gain on extinguish of portion of principal					(72,464	)					(72,464	)
Amortization of debt discount								960,197			960,197
Penalty		181,159									181,159
Conversion price change					1,843,475						1,843,475
Under forbearance Agreement:		58,703			(1,988,402	)					(1,929,699	)
Cash repayment		(964,500	)								(964,500	)
Balance at June 30, 2023		-			-			-			-

Schedule of Exchange of Returnable Warrants for Shares of Common Stock

Below is a reconciliation of the extinguishment of debt relative to the exchange of Returnable Warrants for shares of common stock by the holders:

3,800,000 shares of common stock issued and exchanged for 10,869,566 returnable warrants	$	342,000
Loss on conversion price change in December 31, 2022		1,051,801
Stock settled debt		(1,988,402	)
Financing charges due to returnable warrants issued		987,060
Principal increased due to penalty		58,703
Loss on extinguishment	$	392,459

Schedule of Interest Expenses with Above Convertible Note

Interest expenses associated with above convertible note are as follows:

	For the three months Ended December 31,				For the six months Ended December 31,
	2023		2022		2023		2022
Amortization	$	-	$	420,627	$	-	$	960,197
Interest on the convertible notes		-		20,071		-		41,617
Total	$	-	$	440,698	$	-	$	1,001,814

	For the three months Ended December 31,				For the six months Ended December 31,
	2023		2022		2023		2022
Amortization	$	201,481	$	64,280	$	413,740	$	69,255
Interest on the convertible notes		60,368		14,311		102,167		15,711
Total	$	261,849	$	78,591	$	-	$	84,966

Schedule of Reconciliation of the Above Debts

Below is a reconciliation of the above debts (Mast Hills Notes and Fourth Man Notes) as presented on the Company’s balance sheet as of December 31, 2023 and June 30, 2023:

	Principal $			Debt Discount $			Net Value $
Balance at June 30, 2022		-			-			-
Promissory notes payable issued		2,066,823						2,066,823
Principal converted to common stock		(16,088	)					(16,088	)
Debt discount associated with Promissory notes					(864,713	)		(864,713	)
Amortization of debt discount					305,697			305,697
Balance at June 30, 2023		2,050,735			(559,016	)		1,491,719

Promissory notes payable issued		354,588						354,588
Debt discount associated with Promissory notes					(63,066	)		(63,066	)
Amortization of debt discount					413,740			713,740
Balance at December 31, 2023	$	2,405,323		$	(208,342	)	$	2,196,981