v3.20.2
Consolidated Statements of Operations - USD ($)
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]    
Revenues, net of slotting and promotion $ 241,673 $ 352,162
Operating expenses    
Cost of product sold 472,131 190,251
Amortization of intangible assets 500,000
Impairment of intangible assets 500,000
Advertising and promotional 403,639 732,297
Selling, general and administrative 406,072 559,996
Professional Fees 683,706 781,178
Total operating expenses 2,965,548 2,263,722
Loss from operations (2,723,875) (1,911,550)
Other expenses    
Interest expense - bank debt 463
Interest expense - shareholder 281,387 95,805
Interest expense - other 159,572 83,223
Loss on debt extinguishment upon note conversion, net 395,781
Change in fair value of derivative liability (858,774) 712,627
Amortization of Beneficial Conversion Feature 1,709,759 1,794,359
Other Expense 779
Total other expenses 1,688,188 2,686,793
Provision for income tax
Net loss $ (4,412,063) $ (4,598,343)
Basic and diluted net loss per common share $ (0.08) $ (0.09)
Weighted average shares of capital outstanding - basic and diluted 57,443,347 47,827,114

Source