XML 33 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of Capital Structure

The Company’s capital structure is as follows:

 

  

 

June 30, 2020

   
 

Authorized

 

Issued

 

Outstanding

 

Common stock

4,000,000,000

 

628,039,242

 

628,000,617

$.0001 par value, one vote per share

Preferred stock

200,000,000

 

-

 

-

$.0001 par value, one vote per share

Preferred stock - Class A

750,000

 

-

 

-

$.0001 par value; no voting rights

Preferred stock - Class B

1,000,000

 

-

 

-

Voting rights of 10 votes for 1 Preferred B share; 2% preferred dividend payable annually

Preferred stock - Class C

9,000,000

 

-

 

-

$.0001 par value; 500 votes per share, convertible to common stock

Preferred stock - Class D

1,000,000

 

-

 

-

$.0001 par value; no voting rights, convertible to common stock, mandatory conversion to common stock 18 months after issue

Preferred stock - Class E

500,000

 

500,000

 

500,000

$.0001 par value; no voting rights, convertible to common stock

  

 

June 30, 2019

   
 

Authorized

 

Issued

 

Outstanding

 

 

Common stock

 

4,000,000,000

 

 

11,318,901

 

 

11,280,276

 

$.0001 par value, one vote per share

Preferred stock

200,000,000

 

-

 

-

$.0001 par value, one vote per share

Preferred stock - Class A

750,000

 

-

 

-

$.0001 par value; no voting rights

 

Preferred stock - Class B

 

1,000,000

 

 

-

 

 

-

Voting rights of 10 votes for 1 Preferred B share; 2% preferred dividend payable annually

 

Preferred stock - Class C

 

9,000,000

 

 

-

 

 

-

 

$.0001 par value; 500 votes per share, convertible to common stock

Schedule of Useful lives of Property and Equipment

Property and equipment and the estimated useful lives used in computing depreciation, are as follows:

 

Furniture and fixtures

5 years

Equipment

5 to 8 years

Vehicles

5 years

Building

40 years

Building improvements

8 years

  
Schedule of Intangible Assets

Goodwill and intangible assets are comprised of the following at June 30, 2020:

 

 


Cost

 

Accumulated

Amortization

 

Net Book

Value


Impairment


Total

Goodwill

$ 1.634.507

$ -

$1,634,507

$ (800,287)

$834,220

Finite-lived assets:

     

Customer list

$ 881,000

$ (132,147)

$ 748,853

$ -

$748,853

Vendor relationships

479,000

(71,847)

407,153

-

407,153

Noncompete agreement

1,600,000

(400,000)

1,200,000

(1,200,000)

-

Product development costs

81,845

(1,536)

280,309

-

280,309

 

  $ 3,241,845

  $ (605,530)

$2,636,315

$(1,200,000)

$1,436,315