Financials

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Jun. 30, 2017
Current assets :    
Cash $ 65,528 $ 14,326
Accounts receivable (net of allowance of $0 and $0, respectively) 491 382
Inventory 81,334 95,865
Other current assets 3,978 3,491
Total current assets 151,331 114,064
Total assets 151,331 114,064
Current liabilities:    
Accounts payable 209,755 205,961
Accrued expense-related party 198,000 180,000
Convertible notes payable - net of discount 244,151 151,020
Fair value of derivative liabilities 146,941 44,022
Short-term borrowings 2,500 3,096
Advance from shareholders 10,995 995
Total current liabilities 812,342 585,094
Commitments and contingencies
Stockholders' deficit:    
Common stock, ($0.001 par value, 200,000,000 shares authorized, and 31,259,967 issued and outstanding as of September 30, 2017 and 29,724,432 outstanding as of June 30, 2017, respectively) 31,260 29,724
Additional paid in capital 3,668,724 2,880,467
Accumulated deficit (4,360,995) (3,381,221)
Total stockholders' deficit (661,011) (471,030)
Total Liabilities and Stockholders' Deficit $ 151,331 $ 114,064

Source

v3.8.0.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]    
Revenues $ 36,442 $ 2,464
Operating expenses    
Cost of product sold 26,026 12,102
Advertising and promotional 41,824 619
Selling, general and administrative 44,056 12,276
Professional Fees 257,240 46,333
Total operating expenses 369,146 71,330
Loss from operations (332,704) (68,866)
Interest expense - bank debt 301
Interest expense - shareholder 2,730 5,000
Other expense 287,916
Amortization expense 253,505
Change in fair value of derivative liability 102,919
Total other expense 647,070 5,301
Provision for income tax
Net loss $ (979,774) $ (74,167)
Basic and diluted net loss per common share $ (0.03) $ 0.00
Weighted average shares of capital outstanding - basic and diluted 30,519,921 28,520,193

Source

v3.8.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (979,774) $ (74,167)
Adjustments to reconcile net loss to net cash used in operations activities:    
Stock issued for services 192,891 11,000
Stock issued for conversion of debt 7,500
Stock issued as part of loan agreement 2,730 5,000
Amortization of debt discount and deferred financing fees 253,505
Change in derivative liability 102,919
Change in accounts receivable (109) (2,298)
Change in inventory 14,531 8,904
Change in other current assets (486) 142
Change in accounts payable 3,794 28,415
Change in accrued expenses 18,000 18,000
Net cash provided by (used in) operating activities (384,499) (5,003)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the sale of stock 30,000
Proceeds from the issuance of debt-net 471,296
Advance from shareholders 10,000 2,000
Repayment to shareholders (1,000)
Repayment of short-term debt (596) (1,094)
Repayment of convertible debt (75,000)
Net cash provided by (used in) financing activities 435,701 (94)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 51,202 (5,097)
Cash and cash equivalents, beginning of period 14,326 5,481
Cash and cash equivalents, end of period 65,528 384
Cash Paid For:    
Interest 30 301
Income taxes
Summary of Non-Cash Investing and Financing Information:    
Debt discount due to beneficial conversion feature 871,755
Value of embedded derivative liabilities $ 101,511

Source