XML 55 R25.htm IDEA: XBRL DOCUMENT v3.20.1
Fair Value Measurements (Tables)
 9 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Fair Values Determined by Level 3 Inputs

The following table presents information about the assets that are measured at fair value on a recurring basis at March 31, 2020 and June 30, 2019 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical instruments. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates, and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the financial instrument, and include situations where there is little, if any, market activity for the instrument:

At March 31, 2020

       
  

Total

 

Level 1

 

Level 2

 

Level 3

Liabilities:

 
 

Original issue discount, convertible debt

$         145,701

 $                 -

 $               -

 

$      145,701

 

Derivative liability, warrants

             33,312

                   -

                  -

           33,312

Total:

 

 

$         179,013

 $                 -

 $               -

 

$      179,013

         

At June 30, 2019

       
         

Liabilities:

 

Total

Level 1

Level 2

Level 3

Original issue discount, convertible debt

$         979,569

 $                 -

 $               -

 

$      979,569

 

Derivative liability, warrants

             46,375

                   -

                  -

           46,375

Total:

 

 

$      1,025,944

 $                 -

 $               -

    $1,025,944

Schedule of Derivative Liability Valued Using Monte Carlo Pricing Model

The derivative liability was valued using the Monte Carlo pricing model with the following inputs at March 31, 2020 and June 30, 2019:

At March 31, 2020

  
 

Risk-free interest rate:

 

0.05 – 1.15%

 

Expected dividend yield:

 

0.00%

 

Expected stock price volatility:

 

250.00%

 

Expected option life in years:

 

0.01 – 1.94 years

    

At June 30, 2019

  
 

Risk-free interest rate:

 

1.72% - 2.83%

 

Expected dividend yield:

 

0.00%

 

Expected stock price volatility:

 

180.00%

 

Expected option life in years:

 

2.80 - 3.00 years
Schedule of Reconciliation of Changes in Fair Value of Convertible Debt

The following table sets forth a reconciliation of changes in the fair value of the Company's convertible debt components classified as Level 3 in the fair value hierarchy at March 31, 2020:

    
 

Balance at June 30, 2019

 

 $                     1,025,944

 

Additional convertible securities at inception

 

                        2,026,000

 

Settlement of conversion features and warrants

 

                         (152,374)

 

Realized

 

                         (234,903)

 

Unrealized

 

(2,485,645)

 

Ending balance

 

 $                        179,013

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents information about the assets that are measured at fair value on a nonrecurring basis at March 31, 2020 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value, as follows:

 

At March 31, 2020

 

 

 

 

 

 

 

 

 

Total

 

Level 1

 

Level 2

 

Level 3

Assets:

 

Goodwill

$   834,220

$        -

 $          -

$  834,220

 

Customer list

792,900

-

-

792,900

 

Vendor Relationship

$479,000

 

$         -

 

$          -

$ 479,000

 

 

$2,058,200

 

$         -

 

$          -

$2,058,220