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Fair Value Measurement
9 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurement

Fair value measurements

 

At March 31, 2021 and 2020, the fair value of derivative liabilities is estimated using the Cox, Ross & Rubinstein Binomial Tree valuation model using inputs that include the expected volatility, the implied risk-free interest rate, as well as the expected dividend rate. The derivative liabilities are the only Level 3 fair value measures.

 

At March 31, 2021 the estimated fair values of the liabilities measured on a recurring basis are as follows:

 

 

    Fair Value Measurements at  
    March 31, 2021:  
    (Level 1)     (Level 2)     (Level 3)  
Derivative liability   $ -     $ -     $ 1,117,248  
Total derivative liability   $ -     $ -     $ 1,117,248