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Fair Value Measurements (Tables)
3 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Schedule of Fair Values Determined by Level 3 Inputs

The following table presents information about the assets and liabilities that are measured at fair value on a recurring basis at September 30, 2020 and June 30, 2020 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.


At September 30, 2020

     
  

Total

Level 1

Level 2

Level 3

Assets

     
 

Customer List

$704,803

-

-

$704,803

 

Vendor Relationship

383,203

-

-

383,203

 

Development Costs

287,797

-

-

287,797

      
  

$1,355,803

-

-

$1,355,803

Liabilities

     
 

Original Issue discount, convertible debt

$1,276,312

-

-

$1,276,312

      

At June 30, 2020

     
  

Total

Level 1

Level 2

Level 3

Assets

     
 

Customer list

$748,847

-

-

$748,847

 

Vendor relationship

407,153

-

-

407,153

 

Development costs

280,315

-

-

280,315

      
  

$1,436,315

-

-

$1,436,315

Liabilities

     
 

Original issue discount, convertible debt

$213,300

-

-

$213,300

 

Derivative liability warrants

33,312

-

-

33,312

Total

 

$246,612

-

-

$246,612

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 September 30, 2020

  
 

Risk-free interest rate:

 

0.08%

 

Expected dividend yield:

 

0.00%

 

Expected stock price volatility:

 

325.00%

 

Expected option life in years:

 

0.48 to 1.44 years

At June 30, 2020

  
 

Risk-free interest rate:

 

0.09%

 

Expected dividend yield:

 

0.00%

 

Expected stock price volatility:

 

300.00%

 

Expected option life in years:

 

.085 to 1.69 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 September 30, 2020 and June 30, 2020:

 

Balance at June 30, 2020

 

 $            246,612

Additional convertible securities at inception

 

       2,000

Realized

 

(5,300)

Unrealized

 

1,033,000

Ending balance at September 30, 2020

 

$          1,276,312

   

Balance at June 30, 2019

 

 $          1,025,944

Additional convertible securities at inception

 

 2,027,000

Settlement of conversion features and warrants

 

     (152,374)

Realized

 

        (240,903)

Unrealized

 

   (2,413,055)

Ending balance at June 30, 2020

 

 $           246,612