0001213900-18-014754.txt : 20181101 0001213900-18-014754.hdr.sgml : 20181101 20181101061401 ACCESSION NUMBER: 0001213900-18-014754 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 44 CONFORMED PERIOD OF REPORT: 20180930 FILED AS OF DATE: 20181101 DATE AS OF CHANGE: 20181101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Hypersolar, Inc. CENTRAL INDEX KEY: 0001481028 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 STATE OF INCORPORATION: NV FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54437 FILM NUMBER: 181151885 BUSINESS ADDRESS: STREET 1: 510 CASTILLO STREET, SUITE 320 CITY: SANTA BARBARA STATE: CA ZIP: 93101 BUSINESS PHONE: 805-966-6566 MAIL ADDRESS: STREET 1: 510 CASTILLO STREET, SUITE 320 CITY: SANTA BARBARA STATE: CA ZIP: 93101 10-Q 1 f10q0918_hypersolarinc.htm QUARTERLY REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

(Mark One)

  QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

 

FOR THE QUARTERLY PERIOD ENDED September 30, 2018

 

  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

FOR THE TRANSITION PERIOD FROM __________ TO __________

 

COMMISSION FILE NUMBER: 000-54437

 

HYPERSOLAR, INC.

(Name of registrant in its charter)

 

Nevada   26-4298300

(State or other jurisdiction of

incorporation or organization)

  (I.R.S. Employer
Identification No.)

 

10 E. Yanonali, Suite 36, Santa Barbara, CA 93101

(Address of principal executive offices) (Zip Code)

 

Issuer’s telephone Number: (805) 966-6566

 

Indicate by check mark whether the registrant (1) has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒   No ☐

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒   No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer Accelerated filer
Non-accelerated filer (Do not check if smaller reporting company) Smaller reporting company  
    Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐   No ☒

 

The number of shares of registrant’s common stock outstanding, as of October 31, 2018 was 885,073,787.

  

 

 

 

  

HYPERSOLAR, INC.

INDEX

 

  Page
PART I: FINANCIAL INFORMATION  
ITEM 1: FINANCIAL STATEMENTS 1
  Condensed Balance Sheets at September 30, 2018 (unaudited) and June  30, 2018 1
  Condensed Statements of Operations for the Three Ended September 30, 2018 and 2017 (unaudited) 2
  Condensed Statement of Shareholders’ Deficit for the Three Months Ended September 30, 2018 (unaudited) 3
  Condensed Statements of Cash Flows Three Months Ended September 30, 2018 and 2017 (unaudited) 4
  Notes to the Condensed Financial Statements 5
ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 12
ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 16
ITEM 4: CONTROLS AND PROCEDURES 16
PART II: OTHER INFORMATION  
ITEM 1 LEGAL PROCEEDINGS 17
ITEM 1A: RISK FACTORS 17
ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 17
ITEM 3: DEFAULTS UPON SENIOR SECURITIES 17
ITEM 4: MINE SAFETY DISCLOSURES 17
ITEM 5: OTHER INFORMATION 17
ITEM 6: EXHIBITS 18
SIGNATURES 19

  

i

 

  

PART I – FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

  

HYPERSOLAR, INC.

CONDENSED BALANCE SHEETS

 

  

September 30,
2018

  

June 30,
2018

 
   (Unaudited)     
ASSETS        
         
CURRENT ASSETS        
Cash  $75,086   $97,326 
Prepaid expense   3,569    3,942 
           
TOTAL CURRENT ASSETS   78,655    101,268 
           
PROPERTY & EQUIPMENT          
Computers and peripherals   8,100    8,100 
Less: accumulated depreciation   (6,584)   (6,427)
           
NET PROPERTY AND EQUIPMENT   1,516    1,673 
           
OTHER ASSETS          
Deposits   900    900 
Domain, net of amortization of $3,603 and $3,514, respectively   1,712    1,801 
Patents, net of amortization of $5,622 and $4,642, respectively   99,171    90,930 
           
TOTAL OTHER ASSETS   101,783    93,631 
           
TOTAL ASSETS  $181,954   $196,572 
           
LIABILITIES AND SHAREHOLDERS’ DEFICIT          
           
CURRENT LIABILITIES          
Accounts payable  $146,525   $111,088 
Accrued expenses   504,368    467,822 
Derivative liability   7,948,478    10,857,698 

Convertible promissory notes, net of debt discount of $236,755 and $66,335, respectively

   476,412    405,714 
           
TOTAL CURRENT LIABILITIES   9,075,783    11,842,322 
           
LONG TERM LIABILITIES          

Convertible promissory notes, net of debt discount of $167 and $38,514, respectively

   1,330,133    1,369,686 
           
TOTAL LONG TERM LIABILITIES   1,330,133    1,369,686 
           
TOTAL LIABILITIES   10,405,916    13,212,008 
           
SHAREHOLDERS’ DEFICIT          
Preferred Stock, $0.001 par value; 5,000,000 authorized preferred shares, no shares issued or outstanding   -    - 
Common Stock, $0.001 par value; 3,000,000,000 authorized common shares 885,073,787 and 852,458,018 shares issued and outstanding, respectively   885,074    852,458 
Additional Paid in Capital   8,392,546    8,131,620 
Accumulated deficit   (19,501,582)   (21,999,514)
           
TOTAL SHAREHOLDERS’ DEFICIT   (10,223,962)   (13,015,436)
           
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT  $181,954   $196,572 

 

The accompanying notes are an integral part of these unaudited condensed financial statements

 

1

 

 

HYPERSOLAR, INC.

CONDENSED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 AND 2017

(Unaudited)

  

   Three Months Ended 
  

September 30,
2018

  

September 30,
2017

 
         
REVENUE  $-   $- 
           
OPERATING EXPENSES          
General and administrative expenses   136,988    118,247 
Research and development cost   74,588    66,553 
Depreciation and amortization   1,225    1,914 
           
TOTAL OPERATING EXPENSES   212,801    186,714 
           
LOSS FROM OPERATIONS BEFORE OTHER INCOME (EXPENSES)   (212,801)   (186,714)
           
OTHER INCOME/(EXPENSES)          
(Loss) on conversion of debt   (234,834)   - 
Gain on change in derivative liability   3,071,394    51,772 
Interest expense   (125,827)   (93,198)
           
TOTAL OTHER (EXPENSES) INCOME   2,710,733    (41,426)
           
NET INCOME (LOSS)  $2,497,932   $(228,140)
           
BASIC AND DILUTED EARNING (LOSS) PER SHARE  $0.003   $(0.000)
           
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING          
BASIC AND DILUTED   861,320,999    699,483,259 

 

The accompanying notes are an integral part of these unaudited condensed financial statements

 

2

 

  

HYPERSOLAR, INC.

CONDENSED STATEMENT OF SHAREHOLDERS’ DEFICIT

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018

(Unaudited)

 

                   Additional         
   Preferred stock   Common stock   Paid-in   Accumulated     
   Shares   Amount   Shares   Amount   Capital   Deficit   Total 
                             
Balance at June 30, 2018   -   $-    852,458,018   $852,458   $8,131,620   $(21,999,514)  $(13,015,436)
                                    
Issuance of common stock for conversion of debt and accrued interest   -    -    32,615,769    32,616    260,926    -    293,542 
                                    
Net Income   -    -    -    -    -    2,497,932    2,497,932 
                                    
Balance at September 30, 2018 (unaudited)   -   $-    885,073,787   $885,074   $8,392,546   $(19,501,582)  $(10,223,962)

 

The accompanying notes are an integral part of these unaudited condensed financial statements

 

3

 

 

HYPERSOLAR, INC.

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018 AND 2017

(Unaudited)

  

   Three Months Ended 
  

September 30,
2018

  

September 30,
2017

 
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss)  $2,497,932   $(228,140)
Adjustment to reconcile net income (loss) to net cash  used in operating activities          
Depreciation & amortization expense   1,225    1,914 
(Gain) on change in derivative liability   (3,071,394)   (51,772)
Loss on conversion of debt   234,834    - 
Amortization of debt discount recorded as interest expense   74,819    52,992 
(Increase) Decrease in change in assets:          
Prepaid expense   373    2,500 
Increase (Decrease) in change in liabilities :          
Accounts payable   35,437    31,958 
Accrued expenses   50,755    40,206 
           
NET CASH USED IN OPERATING ACTIVITIES   (176,019)   (150,342)
           
CASH FLOWS FROM INVESTING ACTIVITIES          
Purchase of intangible assets   (9,221)   (3,366)
           
NET CASH USED IN INVESTING ACTIVITIES:   (9,221)   (3,366)
           
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from convertible notes payable   163,000    120,000 
           
NET CASH PROVIDED BY FINANCING ACTIVITIES   163,000    120,000 
           
NET DECREASE IN CASH   (22,240)   (33,708)
           
CASH, BEGINNING OF PERIOD   97,326    80,133 
           
CASH, END OF PERIOD  $75,086   $46,425 
           
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION          
Interest paid  $253   $- 
Taxes paid  $-   $- 
           
SUPPLEMENTAL DISCLOSURES OF NON CASH TRANSACTIONS          
Fair value of common stock upon conversion of convertible notes and accrued interest  $293,542   $- 

 

The accompanying notes are an integral part of these unaudited condensed financial statements

 

4

 

 

HYPERSOLAR, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS - UNAUDITED

SEPTEMBER 30, 2018

 

1.BASIS PRESENTATION

 

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of S-X Regulation Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included.  Operating results for the three months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending June 30, 2019.  For further information refer to the financial statements and footnotes thereto included in the Company’s Form 10-K for the year ended June 30, 2018.

 

Going Concern

The accompanying condensed financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. The Company does not generate revenue, and has negative cash flows from operations, which raise substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon, among other things, additional cash infusion. The Company has historically obtained funds through private placement offerings of equity and debt. Management believes that it will be able to continue to raise funds by sale of its securities to its existing shareholders and prospective new investors to provide the additional cash needed to meet the Company’s obligations as they become due, and will allow the development of its core business. There is no assurance that the Company will be able to continue raising the required capital.

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

This summary of significant accounting policies of HyperSolar, Inc. is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements.

 

Cash and Cash Equivalent

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

 

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements. Significant estimates made in preparing these financial statements include the estimate of useful lives of intangible assets, and the deferred tax valuation allowance. Actual results could differ from those estimates.

 

Intangible Assets

The Company has patent applications to protect the inventions and processes behind its proprietary bio-based back-sheet, a protective covering for the back of photovoltaic solar modules traditionally made from petroleum-based film. During the three months ended September 30, 2018, the Company reviewed the capitalized patents for impairment in accordance with ASC 350, and determined there was no impairment. Intangible assets that have finite useful lives continue to be amortized over their useful lives.

 

The Company recognized amortization expense of $1,069 and $1,914 for the three months ended September 30, 2018 and 2017, respectively.

 

Net Earnings (Loss) per Share Calculations

Net earnings (Loss) per share dictates the calculation of basic earnings (loss) per share and diluted earnings per share. Basic earnings (loss) per share are computed by dividing by the weighted average number of common shares outstanding during the year. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the effect of stock options and stock based awards (Note 4), plus the assumed conversion of convertible debt (Note 5).  

 

For the three months ended September 30, 2018, the Company calculated the dilutive impact of the outstanding stock options of 10,250,000, and the convertible debt of $2,043,300, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive.

 

For the three months ended September 30, 2017, the Company calculated the dilutive impact of the outstanding stock options of 250,000, and the convertible debt of $1,653,000, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive. 

 

5

 

 

HYPERSOLAR, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS - UNAUDITED

SEPTEMBER 30, 2018

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

Stock based Compensation

The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option and warrant grants issued and vesting to employees based on the authoritative guidance provided by the Financial Accounting Standards Board whereas the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested and the total stock-based compensation charge is recorded in the period of the measurement date.

 

Fair Value of Financial Instruments

Fair value of financial instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of September 30, 2018, the amounts reported for cash, accrued interest and other expenses, notes payables, and derivative liability approximate the fair value because of their short maturities.

 

We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements.

 

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include:

 

Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets;
Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and
Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

 

We measure certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows at September 30, 2018 (See Note 6):

  

     Total   (Level 1)   (Level 2)   (Level 3) 
  Liabilities                
  Derivative liability   7,948,478    -    -    7,948,478 
  Total derivative liabilities measured at fair value  $7,948,478   $-   $-   $7,948,478 

 

The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value:

 

  Balance as of June 30, 2018  $10,857,698 
  Fair value of derivative liabilities issued   162,174 
  (Gain) on change in derivative liability   (3,071,394)
  Balance as of  September 30, 2018  $7,948,478 

  

6

 

  

HYPERSOLAR, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS - UNAUDITED

SEPTEMBER 30, 2018

 

2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

 

Accounting for Derivatives

The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average series Binomial lattice formula pricing models to value the derivative instruments at inception and on subsequent valuation dates.

 

The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

 

Recently Issued Accounting Pronouncements

In August 2017, FASB issued accounting standards update ASU-2017-12, (Topic 815) – “Targeted Improvements to Accounting for Hedging Activities”, to require an entity to present the earnings effect of the hedging instrument in the same statement line item in which the earnings effect of the hedged item is reported. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods with the fiscal years beginning after December 15, 2020. Early adoption is permitted in any interim period after issuance of the update. The Company is currently evaluating the impact of the adoption of ASU-2017 on the Company’s financial statements.

 

In June 2018, FASB issued accounting standards update ASU 2018-07, (Topic 505) – “Shared-Based Payment Arrangements with Nonemployees”, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees will be aligned with the requirements for share-based payments granted to employees. Under the ASU 2018-07, the measurement of equity-classified nonemployee share-based payments will be fixed on the grant date, as defined in ASC 718, and will use the term nonemployee vesting period, rather than requisite service period. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted if financial statements have not yet been issued. The Company is currently evaluating the impact of the adoption of ASU 2018-07 on the Company’s financial statements. 

 

In August 2018, the FASB issued to accounting standards update ASU 2018-13, (Topic 820) - “Fair Value Measurement”, which changes the unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance. The Company is currently evaluation the impact of the adoption of ASU 2018-13, on the Company’s financial statements. 

 

Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed financial statements.

 

3.CAPITAL STOCK

 

During the three months ended September 30, 2018, the Company issued 32,615,769 shares of common stock upon conversion of convertible notes in the amount of $44,500 in principal, plus accrued interest of $14,208, with an aggregate fair value loss on settlement of $234,834, based upon a conversion price of $0.009.

 

4.STOCK OPTIONS

 

Options

As of September 30, 2018, 10,250,000 non-qualified common stock options were outstanding. Each option expires on the date specified in the option agreement, which date is not later than the fifth (5th) anniversary from the grant date of the options. As of September 30, 2018, 250,000 options are fully vested with a maturity date of March 31, 2020, and are exercisable at an exercise price of $0.02245 per share, and 10,000,000 non-qualified common stock options, which vest one-third immediately, and one-third the second and third year, whereby, the options are fully vested with a maturity date of October 2, 2022, and are exercisable at an exercise price of $0.01 per share.

  

7

 

 

HYPERSOLAR, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS - UNAUDITED

SEPTEMBER 30, 2018

  

4.STOCK OPTIONS (Continued)

 

A summary of the Company’s stock option activity and related information follows:

 

     9/30/2018   9/30/2017 
         Weighted       Weighted 
     Number   average   Number   average 
     of   exercise   of   exercise 
     Options   price   Options   price 
  Outstanding, beginning of period   10,250,000   $0.01    250,000   $0.02 
  Granted   -    -    -    - 
  Exercised   -    -    -    - 
  Forfeited/Expired   -    -    -    - 
  Outstanding, end of period   10,250,000   $0.01    250,000   $0.02 
  Exercisable at the end of period   3,583,333   $0.01    250,000   $0.02 

 

The stock based compensation expense recognized in the statement of operations during the three months ended September 30, 2018 and 2017, related to the granting of these options was $0, respectively.

 

5.CONVERTIBLE PROMISSORY NOTES

 

As of September 30, 2018, the outstanding convertible promissory notes are summarized as follows:

  

  Convertible Promissory Notes, net of debt discount  $1,806,545 
  Less current portion   476,412 
  Total long term liabilities  $1,330,133 

 

Maturities of long-term net of debt discount are as follows:

   

  9/30  Amount 
  2020   230,000 
  2021   905,300 
  2022   194,833 
     $1,330,133 

 

At September 30, 2018, the $2,043,300 in convertible promissory notes had a remaining debt discount of $236,755, leaving a net balance of $1,806,545.

 

On April 9, 2015, the Company issued a 10% convertible promissory note (the “April Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $50,000. The Company received additional tranches in the amount of $450,000 for an aggregate sum of $500,000. The April Note matured nine (9) months from the effective dates of each respective tranche. A second extension was granted to October 9, 2016. On January 19, 2017, the investor extended the April Note for an additional (60) months from the effective date of each tranche, which matures on April 9, 2020.The April Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective advance or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the April Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. During the period ended September 30, 2018, the Company issued 32,615,769, upon conversion of 44,500, plus accrued interest of $14,208, with a fair value loss of $234,834. The balance of the April Note as of September 30, 2018 was $330,300.

  

8

 

 

HYPERSOLAR, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS - UNAUDITED

SEPTEMBER 30, 2018

 

5.CONVERTIBLE PROMISSORY NOTES (Continued)

 

On January 28, 2016, the Company issued a 10% convertible promissory note (the “January Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $10,000. The Company received additional tranches in the amount of $490,000 for an aggregate sum of $500,000. The January Note matures twelve (12) months from the effective dates of each respective tranche. On January 19, 2017, the investor extended the January Note for an additional sixty (60) months from the effective date of each tranche, which matures on January 27, 2022. The January Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the January Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The balance of the January Note as of September 30, 2018 was $500,000.

 

On February 3, 2017, the Company issued a 10% convertible promissory note (the “February Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $60,000. The Company received additional tranches in the amount of $440,000 for an aggregate sum of $500,000. The February Note matures twelve (12) months from the effective dates of each respective tranche. The February Note matures on February 3, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. The February Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the February Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $4,947 during the three months ended September 30, 2018. The balance of the February Note as of September 30, 2018 was $500,000.

 

On November 9, 2017, for the sale of a 10% convertible promissory note (the “November Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $45,000. The Company received additional tranches in the amount of $455,000 for an aggregate sum of $500,000. The November Note matures twelve (12) months from the effective dates of each respective tranche. The November Note matures on November 9, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. The November Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the November Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $38,366 during the three months ended September 30, 2018. The balance of the November Note as of September 30, 2018 was $500,000.

 

On June 27, 2018, for the sale of a 10% convertible promissory note (the “June Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $50,000. The June Note matures twelve (12) months from the effective dates of each respective tranche. The June Note matures on June 27, 2019, with an automatic extension of sixty (60) months from the effective date of each tranche. The June Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the June Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $5,780 during the three months ended September 30, 2018. The balance of the June Note as of September 30, 2018 was $50,000.

  

9

 

 

HYPERSOLAR, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS - UNAUDITED

SEPTEMBER 30, 2018

 

5.CONVERTIBLE PROMISSORY NOTES (Continued)

  

On July 23, 2018, the Company entered into a convertible promissory note with an investor, providing for the sale by the Company of a 10% unsecured convertible note (the “July Note”) in the aggregate principal amount of up to $63,000. The July Note matures on July 23, 2019. The July Note may be converted into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the July Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $11,753 during the three months ended September 30, 2018.  

 

On August 10, 2018, the Company entered into a convertible promissory note with an investor, providing for the sale by the Company of a 10% unsecured convertible note (the “August Note”) in the aggregate principal amount of up to $100,000. The August Note matures on August 10, 2019, with an extension of sixty (60) months from the date of the note. The August Note may be converted into shares of the Company’s common stock at a conversion price of the lesser of a) $0.005 per share or b) sixty-one (61%) percent of the lowest trading price per common stock recorded on any trade day after the effective date. The conversion feature of the August Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $13,973 during the three months ended September 30, 2018.  

 

ASC Topic 815 provides guidance applicable to convertible debt issued by the Company in instances where the number into which the debt can be converted is not fixed. For example, when a convertible debt converts at a discount to market based on the stock price on the date of conversion, ASC Topic 815 requires that the embedded conversion option of the convertible debt be bifurcated from the host contract and recorded at their fair value. In accounting for derivatives under accounting standards, the Company recorded a liability representing the estimated present value of the conversion feature considering the historic volatility of the Company’s stock, and a discount representing the imputed interest associated with the embedded derivative. The discount is amortized over the life of the convertible debt, and the derivative liability is adjusted periodically according to stock price fluctuations.

 

6.DERIVATIVE LIABILITIES

 

The convertible notes (the “Notes”) issued and described in Note 5 do not have fixed settlement provisions because their conversion prices are not fixed. The conversion features have been characterized as derivative liabilities to be re-measured at the end of every reporting period with the change in value reported in the statement of operations.

 

During the three months ended September 30, 2018, as a result of the Notes issued that were accounted for as derivative liabilities, we determined that the fair value of the conversion feature of the convertible notes at issuance was $162,174, based upon the Binomial lattice formula. We recorded the full value of the derivative as a liability at issuance with an offset to valuation discount, which will be amortized over the life of the Notes.

 

During the three months ended September 30, 2018, the Company recorded a net gain in change in derivative of $3,071,394 in the statement of operations due to the change in fair value of the remaining notes, for the three months ended September 30, 2018. The Company also recognized a loss on conversion of debt in the amount of $234,834 in the statement of operations at September 30, 2018. At September 30, 2018, the fair value of the derivative liability was $7,948,478.

 

For purpose of determining the fair market value of the derivative liability for the embedded conversion, the Company used the Binomial lattice formula. The significant assumptions used in the Binomial lattice formula of the derivatives are as follows:

  

  Risk free interest rate 2.19% - 2.94%
  Stock volatility factor 43.0% - 138.0%
  Weighted average expected option life 1 year - 5 year
  Expected dividend yield None

 

10

 

 

HYPERSOLAR, INC.

CONDENSED NOTES TO FINANCIAL STATEMENTS - UNAUDITED

SEPTEMBER 30, 2018

 

7.SUBSEQUENT EVENTS

 

Management evaluated subsequent events as of the date of the financial statements pursuant to ASC TOPIC 855, and reported the following events:

 

On October 3, 2018, the Company received $53,000 on the 10% unsecured convertible note (“October Note”) in the aggregate principal amount of up to $53,000, with a maturity date of October 3, 2019. The October Note is convertible into shares of common stock of the Company at a price equal to sixty one percent (61%) per share of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date.

 

On October 9, 2018, the Company received $40,000 on the 10% unsecured convertible note (“June Note”) in the aggregate principal amount of up to $500,000. The June Note is convertible into shares of common stock of the Company at a price equal to a) $0.01 per share or fifty percent (50%) of the lowest trading prices per common stock since the original effective date.

 

On October 12, 2018, the lender extended the November Note for sixty (60) months from the effective date. The other terms and conditions remained unchanged.

 

11

 

 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

Cautionary Statement Regarding Forward-Looking Statements

 

The information in this discussion may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties, including statements regarding our capital needs, business strategy and expectations. Any statements that are not of historical fact may be deemed to be forward-looking statements. These forward-looking statements involve substantial risks and uncertainties. In some cases you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue”, the negative of the terms or other comparable terminology. Actual events or results may differ materially from the anticipated results or other expectations expressed in the forward-looking statements. In evaluating these statements, you should consider various factors, including the risks included from time to time in other reports or registration statements filed with the United States Securities and Exchange Commission. These factors may cause our actual results to differ materially from any forward-looking statements. We disclaim any obligation to publicly update these statements, or disclose any difference between actual results and those reflected in these statements.

 

Unless the context otherwise requires, references in this Form 10-Q to “we,” “us,” “our,” or the “Company” refer to Hypersolar, Inc.

 

Overview

 

At HyperSolar, Inc., our goal is to replace all forms of energy on earth with renewable energy.

 

We refer to our technology as the HyperSolar H2Generator which is comprised of the following components:

 

The Generator Housing - Novel (patent pending) is the first of its type to safely separate oxygen and hydrogen in the water splitting process without sacrificing efficiency. This device houses the water, the solar particles/cells and is designed with inlets and outlets for water and gasses. Utilizing a special membrane for separating the oxygen side from the hydrogen side, proton transport is increased which is the key to safely increasing solar-to-hydrogen efficiency. Our design can be scaled up and manufactured for commercial use.
The NanoParticle or Solar Cell - Our patented nanoparticle consists of thousands of tiny solar cells that are electrodeposited into one tiny structure to provide the charge that splits the water molecule when the sun excites the electron. In the process of optimizing our nanoparticles to be efficient and only use earth abundant materials, (an ongoing process), we experimented with commercially available triple junction silicon solar cells to perform tests with our generator housing and other components. Through this experimentation, our discovery makes us believe we can bring a system to market utilizing these readily available cells while our nanoparticles are still being optimized. These solar cells also absorb the sunlight and produce the necessary charge for splitting the water molecule to produce the hydrogen and oxygen.
Oxygen Evolution Catalyst - This proprietary catalyst developed at the University of Iowa lab is uniformly applied onto the solar cell or nanoparticle and efficiently collects holes to oxidize water molecule to generate oxygen gas. The oxygen evolution catalyst must be transparent to absorb the sun’s energy or light. It must be stable in alkaline, neutral and acidic environments.
Hydrogen Evolution Catalyst - Necessary for collecting electrons to reduce protons for generating hydrogen gas, we recently announced the successful integration of a low-cost hydrogen catalyst into our generator system successfully coating a triple junction solar cell with a catalyst comprised primarily of ruthenium, carbon and nitrogen that can function as well as platinum, the current catalyst used for hydrogen production, but at a 20x reduced cost.

Transparent Conductive Coating - A patent pending coating to protect our nanoparticles and solar cells from photo corrosion and efficiently transfer charges to catalysts for oxygen and hydrogen evolution reactions.
A concentrator equal to two suns - This inexpensive Fresnel lens concentrator to increase sunlight to equal two suns reduces our necessary footprint for a 1000 KG per day system by 40%.

 

12

 

  

Our business and commercialization plan calls for two generations of our panels or generators. The first generation utilizes readily available commercial solar cells, coated with a stability polymer and catalysts, and inserted into our proprietary panels to efficiently and safely split water into hydrogen and oxygen to produce very pure and green hydrogen that can be piped off the panel, pressurized, and stored for use in a fuel cell to power anything electric.

 

The second generation of our panels will feature a nanoparticle based technology where billions of autonomous solar cells are electrodeposited onto porous alumina sheets and manufactured in a roll to roll process and inserted into our proprietary panels. For this generation, we have received multiple patents and it is estimated that it will produce hydrogen for less than $4 per kilogram before pressurization.

 

Our team at the University of Iowa led by our CTO Dr. Joun Lee, has reach a milestone of 365 consecutive hours of continuous hydrogen production utilizing completely immersed solar cells with no external biases achieving simulated production equal to one year. We believe this to be a record for completely immersed cells. Now ready to take our technology out of the lab, we are working with several vendors to commercialize and manufacturer our first generation of renewable hydrogen panels that use sunlight and water to generate hydrogen. We are currently working towards building a pilot plant in 2019 adjacent to a large company distribution or fulfillment center so they can power their fuel cell forklifts and materials handling equipment with completely renewable hydrogen vs. having to transport steam reformed hydrogen where the production process emits tons of harmful emissions and must be transported.

   

We anticipate that the HyperSolar H2Generator will be a self-contained renewable hydrogen production system that requires only sunlight and any source of water. As a result, it can be installed almost anywhere to produce hydrogen fuel at or near the point of distribution, for local use. We believe this model of hydrogen production addresses one of the biggest challenges of using clean hydrogen fuel on a large scale which is the transportation of hydrogen.

 

Each stage of the HyperSolar H2Generator can be scaled independently according to the hydrogen demands and length of storage required for a specific application. A small-scale system can be used to produce continuous renewable electricity for a small house, or a large scale system can be used to produce hydrogen to power a community. 

   

Critical Accounting Policies

 

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to impairment of property, plant and equipment, intangible assets, deferred tax assets and fair value computation using the Black Scholes option pricing model. We base our estimates on historical experience and on various other assumptions, such as the trading value of our common stock and estimated future undiscounted cash flows, that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions; however, we believe that our estimates, including those for the above-described items, are reasonable.

 

Use of Estimates

 

In accordance with accounting principles generally accepted in the United States, management utilizes estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates and assumptions relate to recording net revenue, collectability of accounts receivable, useful lives and impairment of tangible and intangible assets, accruals, income taxes, inventory realization, stock-based compensation expense, Black Scholes valuation model inputs, derivative liabilities and other factors. Management believes it has exercised reasonable judgment in deriving these estimates. Consequently, a change in conditions could affect these estimates.

  

13

 

 

Fair Value of Financial Instruments

 

Fair value of financial instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of September 30, 2018, the amounts reported for cash, accrued interest and other expenses, notes payables, and derivative liability approximate the fair value because of their short maturities.

 

We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements.

  

Recently Issued Accounting Pronouncements

 

Management reviewed currently issued pronouncements during the three months ended September 30, 2018, and does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed financial statements. Pronouncements are disclosed in notes to the financials.

 

Results of Operations for the Three Months Ended September 30, 2018 compared to Three Months Ended September 30, 2017.

 

Operating Expenses

 

Operating expenses for the three months ended September 30, 2018 were $212,801 and $186,714 for the prior period ended September 30, 2017. The net increase of $26,087 in operating expenses consisted primarily of an increase in general and administrative expenses of $18,741, increase in research and development cost in the amount of $8,035, with a decrease in depreciation and amortization of $689.

  

Other Income/(Expenses)

 

Other income and (expenses) for the three months ended September 30, 2018 were $2,710,733 and $(41,426) for the prior period ended September 30, 2017. The increase in other income of $2,752,159 in other income and (expenses) was the result of an increase in net gain on change in fair value of the derivative instruments of $3,019,622, an increase in loss on conversion of debt of $234,834, and an increase in interest expense of $32,629, which includes a net change of $21,827 of amortization of debt discount.

  

Net Income/(Loss)

 

For the three months ended September 30, 2018, our net income was $2,497,932 as compared to a net loss of $(228,140) for the prior period September 30, 2017. The increase in net income of $2,726,072 was related primarily to the increase in other income and (expenses) associated with non-cash cost of the fair value of the convertible notes, with an overall increase in operating expenses. The Company has not generated any revenues.

   

14

 

 

LIQUIDITY AND CAPITAL RESOURCES

 

Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. Significant factors in the management of liquidity are funds generated by operations, levels of accounts receivable and accounts payable and capital expenditures.

   

As of September 30, 2018, we had a working capital deficit of $8,997,128 as compared to $11,741,054 as of June 30, 2018. This decrease in working capital deficit of $2,770,478 was due primarily to a decrease in cash, prepaid expenses, and non-cash derivative liability, offset by an increase in other assets, accounts payable, accrued expenses, and current portion of convertible notes.

 

Cash used in operating activities was $176,019 for the three months ended September 30, 2018 and $150,342 for the prior period ended September 30, 2017. The increase in cash used in operating activities was due to an increase in research and development cost, and professional fees. The Company has had no revenues.

 

Cash used in investing activities during the three months ended September 30, 2018 and 2017 was $9,221 and $3,366, respectively. The increase in investing activities was due to an increase in the purchase of intangible assets in the current period.

 

Cash provided by financing activities during the three months ended September 30, 2018 and 2017 was $163,000 and $120,000, respectively. The increase is a result of an increased in borrowing to cover our general expenses, research related expenses and protection of our intellectual property. Our ability to continue as a going concern is dependent upon raising capital through financing transactions and future revenue. Our capital needs have primarily been met from the proceeds of private placements of our security, as we currently have not generated any revenues.

  

The condensed financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying condensed financial statements do not reflect any adjustments that might result if we are unable to continue as a going concern. During the three months ended September 30, 2018, we did not generate any revenues, incurred net income of $2,497,932, which was primarily associated with the net change in derivative instruments, and cash used in operations of $176,019. As of September 30, 2018, we had a working capital deficiency of $8,997,128 and a shareholders’ deficit of $10,223,962. These factors, among others raise substantial doubt about our ability to continue as a going concern. Our independent auditors, in their report on our audited financial statements for the year ended June 30, 2018, expressed substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern ultimately is dependent on our ability to generate revenue, which is dependent upon our ability to obtain additional equity or debt financing, attain further operating efficiencies and, ultimately, achieve profitable operations. We have historically obtained funds from our shareholders through the sale of our securities. Management believes that we will be able to continue to raise funds through the sale of our securities to existing and new investors. Management believes that funding from existing and prospective new investors and future revenue will provide the additional cash needed to meet our obligations as they become due, and will allow the development of our core business operations.

 

PLAN OF OPERATION AND FINANCING NEEDS

 

Our plan of operation within the next twelve months is to further research, develop, and protect our technology.

 

We believe that our current cash balances will be sufficient to support development activity, intellectual property protection, and all general and administrative expenses for the next 30 days. Management estimates that we will require additional cash resources during 2018, based upon its current operating plan and condition. We have entered into a convertible note with an investor which provides us access to additional capital in the aggregate remaining balance of $400,000. However, the convertible note contains a beneficial ownership blocker which limits conversions which would result in the holder owning more than 4.99% of our outstanding common shares. We are investigating additional financing alternatives, including continued equity and/or debt financing. There can be no assurance that capital in any form would be available to us, and if available, on terms and conditions that are acceptable. If we are unable to obtain sufficient funds, we may be forced to reduce the size of our operations, which could have a material adverse impact on, or cause us to curtail and/or cease the development of our products.

 

Off-Balance Sheet Arrangements

 

We do not have any off-balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition, revenues or expenses, result of operations, liquidity or capital expenditures.

  

15

 

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

Not required for Smaller Reporting Companies.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Evaluation of Disclosure Controls and Procedures

 

As of the end of the period covered by this report, we conducted an evaluation, under the supervision and with the participation of our chief executive officer and chief financial officer of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act). Based upon this evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is: (i) recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms, and (ii) accumulated and communicated to our management, including our chief executive officer and chief financial officer, or person performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

 

Changes in Internal Control Over Financial Reporting

 

There was no change to our internal control over financial reporting that occurred during our last fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

  

16

 

 

PART II - OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

We are not currently a party to, nor is any of our property currently the subject of, any pending legal proceeding that will have a material adverse effect on our business.

 

ITEM 1A. RISK FACTORS

 

There are no material changes from the risk factors previously disclosed in our annual report on Form 10-K filed with the SEC on September 25, 2018.

 

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

During the three months ended September 30, 2018, the Company issued 32,615,769 shares of common stock upon partial conversion of principal of $44,500, plus accrued interest of $14,208 on an outstanding convertible promissory note.

 

The Company relied on an exemption pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, in connection with the foregoing issuance.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4. MINE SAFETY DISCLOSURES

 

No disclosure required.

 

ITEM 5. OTHER INFORMATION

 

None

  

17

 

 

ITEM 6. EXHIBITS

 

Exhibit No.   Description
10.1   Convertible Promissory Note dated October 3, 2018 between the Company and PowerUp Lending (incorporated by reference to the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on October 12, 2018)
10.2   Securities Purchase Agreement dated October 3, 2018 between the Company and PowerUp Lending (incorporated by reference to the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on October 12, 2018)
31.1*   Certification by Chief Executive Officer and Acting Chief Financial Officer pursuant to Sarbanes-Oxley Section 302 (filed herewith).
32.1*   Certification by Chief Executive Officer and Acting Chief Financial Officer pursuant to 18 U.S.C. Section 1350 (filed herewith).
EX-101.INS**   XBRL Instance Document
EX-101.SCH**   XBRL Taxonomy Extension Schema Document
EX-101.CAL**   XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF**   XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB**   XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE**   XBRL Taxonomy Extension Presentation Linkbase

 

* Filed herewith
** Furnished herewith

  

18

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

November 1, 2018 HYPERSOLAR, INC.
     
  By: /s/ Timothy Young
   

Timothy Young

Chief Executive Officer and
Acting Chief Financial Officer

(Principal Executive Officer and
Acting Principal Financial Officer and
Accounting Officer)

  

19

 

EX-31.1 2 f10q0918ex31-1_hypersolar.htm CERTIFICATION

EXHIBIT 31.1

 

CERTIFICATION

PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

 

I, Timothy Young, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Hypersolar, Inc. for the fiscal quarter ended September 30, 2018;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d – 15(f)) for the registrant and have:

 

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: November 1, 2018

 

By: /s/ Timothy Young  
  Timothy Young  
 

Chief Executive Officer & Acting Chief Financial Officer

(Principal Executive Officer)

(Principal Accounting and Financial Officer)

 

 

EX-32.1 3 f10q0918ex32-1_hypersolar.htm CERTIFICATION

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO 18 USC, SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Hypersolar, Inc. (the “Company”) on Form 10-Q for the fiscal quarter ended September 30, 2018, as filed with the Securities and Exchange Commission on or about the date hereof (the “Report”), I, Timothy Young, Chief Executive Officer & Acting Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1) The Report fully complies with the requirements of Sections 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2) Information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Dated: November 1, 2018 /s/ Timothy Young
  By: Timothy Young
  Its: Chief Executive Officer & Acting Chief Financial Officer
  (Principal Executive Officer)
(Principal Accounting and Financial Officer)

 

EX-101.INS 4 hysr-20180930.xml XBRL INSTANCE FILE 0001481028 2017-06-30 0001481028 2018-06-30 0001481028 us-gaap:RetainedEarningsMember 2018-06-30 0001481028 us-gaap:CommonStockMember 2018-06-30 0001481028 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001481028 us-gaap:PreferredStockMember 2018-06-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeMember 2018-09-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:DerivativeMember 2018-09-30 0001481028 us-gaap:EmployeeStockOptionMember 2018-09-30 0001481028 us-gaap:EmployeeStockOptionMember 2017-09-30 0001481028 us-gaap:EmployeeStockOptionMember 2018-07-01 2018-09-30 0001481028 hysr:NonqualifiedStockOptionsMember 2018-09-30 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesThreeMember 2015-04-01 2015-04-09 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesFourMember 2016-01-25 2016-01-28 0001481028 hysr:ConvertibleNotesPayableFiveMember hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember 2017-01-25 2017-02-03 0001481028 hysr:NonqualifiedStockOptionsMember 2018-07-01 2018-09-30 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesThreeMember 2015-04-09 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesFourMember 2016-01-28 0001481028 hysr:ConvertibleNotesPayableFiveMember hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember 2017-02-03 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesFourMember 2018-09-30 0001481028 hysr:ConvertibleNotesPayableFiveMember hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember 2018-09-30 0001481028 srt:MaximumMember 2018-07-01 2018-09-30 0001481028 srt:MinimumMember 2018-07-01 2018-09-30 0001481028 hysr:NonqualifiedStockOptionsMember 2017-09-05 2017-10-02 0001481028 hysr:NonqualifiedStockOptionsMember 2017-10-02 0001481028 hysr:ConvertiblePromissoryNotesTenPercentMember hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesSixMember 2017-11-09 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesSixMember 2017-10-25 2017-11-09 0001481028 hysr:ConvertiblePromissoryNotesTenPercentMember hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesSixMember 2018-09-30 0001481028 2017-01-01 2017-03-31 0001481028 us-gaap:EmployeeStockOptionMember 2017-07-01 2017-09-30 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesThreeMember 2018-09-30 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesThreeMember 2018-07-01 2018-09-30 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesSevenMember 2018-06-27 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesSevenMember 2018-06-01 2018-06-27 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:ConvertiblePromissoryNotesTenPercentMember hysr:ConvertiblePromissoryNotesSevenMember 2018-09-30 0001481028 us-gaap:SubsequentEventMember 2018-10-03 0001481028 us-gaap:SubsequentEventMember 2018-10-02 2018-10-09 0001481028 us-gaap:ConvertibleDebtMember 2018-07-01 2018-09-30 0001481028 2018-10-31 0001481028 2018-07-01 2018-09-30 0001481028 2017-07-01 2017-09-30 0001481028 2018-09-30 0001481028 2017-09-30 0001481028 us-gaap:PreferredStockMember 2018-07-01 2018-09-30 0001481028 us-gaap:PreferredStockMember 2018-09-30 0001481028 us-gaap:CommonStockMember 2018-07-01 2018-09-30 0001481028 us-gaap:CommonStockMember 2018-09-30 0001481028 us-gaap:AdditionalPaidInCapitalMember 2018-07-01 2018-09-30 0001481028 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 0001481028 us-gaap:RetainedEarningsMember 2018-07-01 2018-09-30 0001481028 us-gaap:RetainedEarningsMember 2018-09-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:DerivativeMember 2018-09-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:DerivativeMember 2018-09-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2018-09-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2018-09-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2018-09-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember 2018-09-30 0001481028 us-gaap:EmployeeStockOptionMember 2018-06-30 0001481028 us-gaap:EmployeeStockOptionMember 2017-06-30 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2018-07-01 2018-09-30 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:UnsecuredConvertibleNotesTenPercentMember hysr:ConvertiblePromissoryNotesEightMember 2018-07-23 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:UnsecuredConvertibleNotesTenPercentMember hysr:ConvertiblePromissoryNotesEightMember 2018-07-10 2018-07-23 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:UnsecuredConvertibleNotesTenPercentMember hysr:ConvertiblePromissoryNotesEightMember 2018-09-30 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:UnsecuredConvertibleNotesTenPercentMember hysr:ConvertiblePromissoryNotesNineMember 2018-08-01 2018-08-10 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:UnsecuredConvertibleNotesTenPercentMember hysr:ConvertiblePromissoryNotesNineMember 2018-08-10 0001481028 hysr:SecuritiesPurchaseAgreementsMember hysr:UnsecuredConvertibleNotesTenPercentMember hysr:ConvertiblePromissoryNotesNineMember 2018-09-30 0001481028 us-gaap:SubsequentEventMember 2018-10-01 2018-10-03 0001481028 us-gaap:SubsequentEventMember 2018-10-09 0001481028 us-gaap:SubsequentEventMember 2018-10-02 2018-10-12 0001481028 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2018-06-30 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure -13015436 -21999514 852458 8131620 -10223962 885074 8392546 -19501582 7948478 7948478 7948478 7948478 10857698 2043300 1653000 2043300 10250000 250000 10250000 10250000 250000 32615769 32615769 0.01 0.02 0.01 0.02 0.01 0.02 0.02245 0.01 <p style="margin: 0">Investor extended the April Note for an additional (60) months from the effective date of each tranche.</p> <p style="margin: 0">Investor extended the January Note for an additional sixty (60) months from the effective date of each tranche.</p> The February Note matures on February 3, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. Maturity date of March 31, 2020. Maturity date of October 2, 2022. The November Note matures on November 9, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. Note matures on June 27, 2019, with an automatic extension of sixty (60) months from the effective date of each tranche. <p style="margin: 0">The August Note matures on August 10, 2019, with an extension of sixty (60) months from the date of the note.</p> <p style="margin: 0">The November Note for sixty (60) months from the effective date.</p> 250000 1806545 500000 500000 500000 500000 500000 1330133 230000 905300 194833 50000 10000 60000 500000 500000 45000 500000 330300 50000 53000 40000 4947 38366 14208 5780 11753 13973 450000 490000 440000 455000 50000 0.01 0.01 0.01 0.01 0.01 0.50 0.50 0.50 0.50 P9M P12M P12M P12M P12M P60M 2020-04-09 2022-01-27 2018-02-03 2018-11-09 2019-06-27 2019-07-23 2019-08-10 2019-10-03 Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective advance or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. The June Note is convertible into shares of common stock of the Company at a price equal to a) $0.01 per share or fifty percent (50%) of the lowest trading prices per common stock since the original effective date. <p style="margin: 0">The July Note may be converted into shares of the Company&#8217;s common stock at a conversion price of sixty-one (61%) percent of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date.</p> <p style="margin: 0">The August Note may be converted into shares of the Company&#8217;s common stock at a conversion price of the lesser of a) $0.005 per share or b) sixty-one (61%) percent of the lowest trading price per common stock recorded on any trade day after the effective date.</p> The October Note is convertible into shares of common stock of the Company at a price equal to sixty one percent (61%) per share of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date. 44500 162174 44500 236755 1806545 P5Y P1Y 10000000 234834 80133 97326 75086 46425 3514 3603 4642 5622 66335 236755 38514 167 0.001 0.001 5000000 5000000 0.001 0.001 3000000000 3000000000 852458018 885073787 852458018 885073787 885073787 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 3071394 51772 3071394 0.0499 0.0499 0.0499 0.0499 0.0499 1500 1500 1500 1500 1500 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>Liabilities</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liability</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">7,948,478</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">7,948,478</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 4pt">Total derivative liabilities measured at fair value</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">7,948,478</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">-</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">-</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">7,948,478</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td></tr></table> 1069 1914 10250000 250000 0.0219 0.0294 0.430 1.380 53000 500000 Hypersolar, Inc. 0001481028 HYSR false --06-30 10-Q 2018-09-30 Q1 2019 Non-accelerated Filer true false 3942 3569 101268 78655 1673 1516 6427 6584 8100 8100 196572 181954 93631 101783 90930 99171 1801 1712 900 900 11842322 9075783 405714 476412 10857698 7948478 467822 504368 111088 146525 13212008 10405916 1369686 1330133 1369686 1330133 196572 181954 -21999514 -19501582 8131620 8392546 852458 885074 -212801 -186714 212801 186714 74588 66553 136988 118247 2710733 -41426 125827 93198 3071394 51772 852458018 885073787 32615769 293542 32616 260926 2497932 -228140 2497932 74819 52992 -234834 1225 1914 -176019 -150342 50755 40206 35437 31958 -373 -2500 -9221 -3366 9221 3366 -22240 -33708 163000 120000 163000 120000 293542 253 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"></font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"> <td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">1.</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">BASIS PRESENTATION</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of S-X Regulation Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included.&#160;Operating results for the three months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending June 30, 2019.&#160; For further information refer to the financial statements and footnotes thereto included in the Company&#8217;s Form 10-K for the year ended June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 15.85pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif"><u>Going Concern</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0"><font style="font-family: Times New Roman, Times, Serif">The accompanying condensed financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. The Company does not generate revenue, and has negative cash flows from operations, which raise substantial doubt about the Company&#8217;s ability to continue as a going concern. The ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon, among other things, additional cash infusion. The Company has historically obtained funds through private placement offerings of equity and debt. Management believes that it will be able to continue to raise funds by sale of its securities to its existing shareholders and prospective new investors to provide the additional cash needed to meet the Company&#8217;s obligations as they become due, and will allow the development of its core business. There is no assurance that the Company will be able to continue raising the required capital.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Cash and Cash Equivalent </u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-weight: normal"><u>Use of Estimates</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements. Significant estimates made in preparing these financial statements include the estimate of useful lives of intangible assets, and the deferred tax valuation allowance. Actual results could differ from those estimates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Intangible Assets</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company has patent applications to protect the inventions and processes behind its proprietary bio-based back-sheet, a protective covering for the back of photovoltaic solar modules traditionally made from petroleum-based film. During the three months ended September 30, 2018, the Company reviewed the capitalized patents for impairment in accordance with ASC 350, and determined there was no impairment. Intangible assets that have finite useful lives continue to be amortized over their useful lives.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company recognized amortization expense of $1,069 and $1,914 for the three months ended September 30, 2018 and 2017, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Stock based Compensation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option and warrant grants issued and vesting to employees based on the authoritative guidance provided by the Financial Accounting Standards Board whereas the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested and the total stock-based compensation charge is recorded in the period of the measurement date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Fair Value of Financial Instruments</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Fair value of financial instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of September 30, 2018, the amounts reported for cash, accrued interest and other expenses, notes payables, and derivative liability approximate the fair value because of their short maturities.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"> <td style="width: 0.5in; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#9679;</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets;</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"> <td style="width: 0.5in; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#9679;</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"> <td style="width: 0.5in; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#9679;</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">We measure certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows at September 30, 2018 (See Note 6):</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>Liabilities</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liability</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">7,948,478</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">7,948,478</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 4pt">Total derivative liabilities measured at fair value</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">7,948,478</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">-</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">-</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">7,948,478</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate&#160;fair value:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td>Balance as of June 30, 2018</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">10,857,698</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: left">Fair value of derivative liabilities issued</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">162,174</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 1.5pt">(Gain) on change in derivative liability</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,071,394</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 4pt">Balance as of&#160;&#160;September 30, 2018</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,948,478</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Accounting for Derivatives </u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average series Binomial lattice formula pricing models to value the derivative instruments at inception and on subsequent valuation dates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif"><u>Recently Issued Accounting Pronouncements</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif">In August 2017, FASB issued accounting standards update ASU-2017-12, (Topic 815) &#8211; &#8220;Targeted Improvements to Accounting for Hedging Activities&#8221;, to require an entity to present the earnings effect of the hedging instrument in the same statement line item in which the earnings effect of the hedged item is reported. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods with the fiscal years beginning after December 15, 2020. Early adoption is permitted in any interim period after issuance of the update. The Company is currently evaluating the impact of the adoption of ASU-2017 on the Company&#8217;s financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In June 2018, FASB issued accounting standards update ASU 2018-07, (Topic 505) &#8211; &#8220;Shared-Based Payment Arrangements with Nonemployees&#8221;, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees will be aligned with the requirements for share-based payments granted to employees. Under the ASU 2018-07, the measurement of equity-classified nonemployee share-based payments will be fixed on the grant date, as defined in ASC 718, and will use the term nonemployee vesting period, rather than requisite service period. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted if financial statements have not yet been issued. The Company is currently evaluating the impact of the adoption of ASU 2018-07 on the Company&#8217;s financial statements.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In August 2018, the FASB issued to accounting standards update ASU 2018-13, (Topic 820) - &#8220;Fair Value Measurement&#8221;, which changes the unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance. The Company is currently evaluation the impact of the adoption of ASU 2018-13, on the Company&#8217;s financial statements.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"></font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td>Balance as of June 30, 2018</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">10,857,698</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: left">Fair value of derivative liabilities issued</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">162,174</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 1.5pt">(Gain) on change in derivative liability</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,071,394</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 4pt">Balance as of&#160;&#160;September 30, 2018</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,948,478</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"><td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">3.</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">CAPITAL STOCK</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif">During the three months ended September 30, 2018, the Company issued 32,615,769 shares of common stock upon conversion of convertible notes in the amount of $44,500 in principal, plus accrued interest of $14,208, with an aggregate fair value loss on settlement of $234,834, based upon a conversion price of $0.009.</font></p> 14208 234834 0.009 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><font style="font-family: Times New Roman, Times, Serif"></font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"> <td style="width: 0; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">4.</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">STOCK OPTIONS</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Options</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18pt; text-align: justify">As of September 30, 2018, 10,250,000 non-qualified common stock options were outstanding. Each option expires on the date specified in the option agreement, which date is not later than the fifth (5<sup>th</sup>) anniversary from the grant date of the options. As of September 30, 2018, 250,000 options are fully vested with a maturity date of March 31, 2020, and are exercisable at an exercise price of $0.02245 per share, and 10,000,000 non-qualified common stock options, which vest one-third immediately, and one-third the second and third year, whereby, the options are fully vested with a maturity date of October 2, 2022, and are exercisable at an exercise price of $0.01 per share.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">A summary of the Company&#8217;s stock option activity and related information follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">9/30/2018</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">9/30/2017</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">Weighted</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">Weighted</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">Number</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">average</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">Number</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">average</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">of</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">exercise</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">of</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">exercise</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Options</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">price</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Options</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">price</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td>Outstanding, beginning of period</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%; text-align: right">10,250,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">0.01</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%; text-align: right">250,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">0.02</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td>Granted</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td>Exercised</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 1.5pt">Forfeited/Expired</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 4pt">Outstanding, end of period</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">10,250,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="padding-bottom: 4pt; text-align: left">$</td><td style="padding-bottom: 4pt; text-align: right">0.01</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">250,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 4pt">Exercisable at the end of period</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">3,583,333</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="padding-bottom: 4pt; text-align: left">$</td><td style="padding-bottom: 4pt; text-align: right">0.01</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">250,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The stock based compensation expense recognized in the statement of operations during the three months ended September 30, 2018 and 2017, related to the granting of these options was $0, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">9/30/2018</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">9/30/2017</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">Weighted</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">Weighted</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">Number</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">average</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">Number</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">average</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">of</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">exercise</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">of</td><td>&#160;</td><td>&#160;</td> <td colspan="2" style="text-align: center">exercise</td><td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Options</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">price</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Options</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">price</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td>Outstanding, beginning of period</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%; text-align: right">10,250,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">0.01</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%; text-align: right">250,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">0.02</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td>Granted</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td>Exercised</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 1.5pt">Forfeited/Expired</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 4pt">Outstanding, end of period</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">10,250,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="padding-bottom: 4pt; text-align: left">$</td><td style="padding-bottom: 4pt; text-align: right">0.01</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">250,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 4pt">Exercisable at the end of period</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">3,583,333</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="padding-bottom: 4pt; text-align: left">$</td><td style="padding-bottom: 4pt; text-align: right">0.01</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">250,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr></table> 3583333 250000 0 0 63000 100000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0"></td><td style="width: 0.25in; text-align: left"><font style="font-family: Times New Roman, Times, Serif">6.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">DERIVATIVE LIABILITIES</font></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The convertible notes (the &#8220;Notes&#8221;) issued and described in Note 5 do not have fixed settlement provisions because their conversion prices are not fixed. The conversion features have been characterized as derivative liabilities to be re-measured at the end of every reporting period with the change in value reported in the statement of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt; text-align: justify; text-indent: 0.55pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">During the three months ended September 30, 2018, as a result of the Notes issued that were accounted for as derivative liabilities, we determined that the fair value of the conversion feature of the convertible notes at issuance was $162,174, based upon the Binomial lattice formula. We recorded the full value of the derivative as a liability at issuance with an offset to valuation discount, which will be amortized over the life of the Notes.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">During the three months ended September 30, 2018, the Company recorded a net gain in change in derivative of $3,071,394 in the statement of operations due to the change in fair value of the remaining notes, for the three months ended September 30, 2018. The Company also recognized a loss on conversion of debt in the amount of $234,834 in the statement of operations at September 30, 2018. At September 30, 2018, the fair value of the derivative liability was $7,948,478.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For purpose of determining the fair market value of the derivative liability for the embedded conversion,&#160;the Company used the Binomial lattice formula. The significant assumptions used in the Binomial lattice formula of the derivatives are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.95pt; text-align: justify; text-indent: 23.05pt"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td style="white-space: nowrap"><font style="font: 10pt Times New Roman, Times, Serif">Risk free interest rate</font></td> <td style="white-space: nowrap; width: 38%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.19% - 2.94%</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="white-space: nowrap"><font style="font: 10pt Times New Roman, Times, Serif">Stock volatility factor</font></td> <td style="white-space: nowrap; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">43.0% - 138.0%</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="white-space: nowrap"><font style="font: 10pt Times New Roman, Times, Serif">Weighted average expected option life</font></td> <td style="white-space: nowrap; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1 year - 5 year</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="white-space: nowrap"><font style="font: 10pt Times New Roman, Times, Serif">Expected dividend yield</font></td> <td style="white-space: nowrap; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">None </font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 120.95pt; text-align: justify; text-indent: 23.05pt"><font style="font-family: Times New Roman, Times, Serif"></font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td style="white-space: nowrap"><font style="font: 10pt Times New Roman, Times, Serif">Risk free interest rate</font></td> <td style="white-space: nowrap; width: 38%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.19% - 2.94%</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="white-space: nowrap"><font style="font: 10pt Times New Roman, Times, Serif">Stock volatility factor</font></td> <td style="white-space: nowrap; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">43.0% - 138.0%</font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="white-space: nowrap"><font style="font: 10pt Times New Roman, Times, Serif">Weighted average expected option life</font></td> <td style="white-space: nowrap; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1 year - 5 year</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="white-space: nowrap"><font style="font: 10pt Times New Roman, Times, Serif">Expected dividend yield</font></td> <td style="white-space: nowrap; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">None </font></td></tr></table> 0.00 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"><td style="width: 0.25in; text-align: left"><font style="font-family: Times New Roman, Times, Serif">7.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">SUBSEQUENT EVENTS</font></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif">Management evaluated subsequent events as of the date of the financial statements pursuant to ASC TOPIC 855, and reported the following events:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><font style="font-family: Times New Roman, Times, Serif">On October 3, 2018, the Company received $53,000 on the 10% unsecured convertible note (&#8220;October Note&#8221;) in the aggregate principal amount of up to $53,000, with a maturity date of October 3, 2019. The October Note is convertible into shares of common stock of the Company at a price equal to sixty one percent (61%) per share of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On October 9, 2018, the Company received $40,000 on the 10% unsecured convertible note (&#8220;June Note&#8221;) in the aggregate principal amount of up to $500,000. The June Note is convertible into shares of common stock of the Company at a price equal to a) $0.01 per share or fifty percent (50%) of the lowest trading prices per common stock since the original effective date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><font style="font-family: Times New Roman, Times, Serif">On October 12, 2018, the lender extended the November Note for sixty (60) months from the effective date. The other terms and conditions remained unchanged.</font></p> 0.003 0.000 861320999 699483259 -476412 1330133 162174 <table cellpadding="0" cellspacing="0" border="0" style="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><tr style="vertical-align: top"><td style="width: 0.25in"><font style="font-family: Times New Roman, Times, Serif">2.</font></td> <td><font style="font-family: Times New Roman, Times, Serif">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">This summary of significant accounting policies of HyperSolar, Inc. is presented to assist in understanding the Company&#8217;s financial statements. The financial statements and notes are representations of the Company&#8217;s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Cash and Cash Equivalent </u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif; font-weight: normal"><u>Use of Estimates</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements. Significant estimates made in preparing these financial statements include the estimate of useful lives of intangible assets, and the deferred tax valuation allowance. Actual results could differ from those estimates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Intangible Assets</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company has patent applications to protect the inventions and processes behind its proprietary bio-based back-sheet, a protective covering for the back of photovoltaic solar modules traditionally made from petroleum-based film. During the three months ended September 30, 2018, the Company reviewed the capitalized patents for impairment in accordance with ASC 350, and determined there was no impairment. Intangible assets that have finite useful lives continue to be amortized over their useful lives.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company recognized amortization expense of $1,069 and $1,914 for the three months ended September 30, 2018 and 2017, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Net Earnings (Loss) per Share Calculations</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Net earnings (Loss) per share dictates the calculation of basic earnings (loss) per share and diluted earnings per share. Basic earnings (loss) per share are computed by dividing by the weighted average number of common shares outstanding during the year. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the effect of stock options and stock based awards (Note 4), plus the assumed conversion of convertible debt (Note 5).&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For the three months ended September 30, 2018, the Company calculated the dilutive impact of the outstanding stock options of 10,250,000, and the convertible debt of $2,043,300, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For the three months ended September 30, 2017, the Company calculated the dilutive impact of the outstanding stock options of 250,000, and the convertible debt of $1,653,000, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Stock based Compensation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option and warrant grants issued and vesting to employees based on the authoritative guidance provided by the Financial Accounting Standards Board whereas the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested and the total stock-based compensation charge is recorded in the period of the measurement date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><u>Fair Value of Financial Instruments</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Fair value of financial instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of September 30, 2018, the amounts reported for cash, accrued interest and other expenses, notes payables, and derivative liability approximate the fair value because of their short maturities.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"> <td style="width: 0.5in; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#9679;</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets;</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"> <td style="width: 0.5in; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#9679;</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"> <td style="width: 0.5in; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#9679;</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">We measure certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows at September 30, 2018 (See Note 6):</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">Total</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 1)</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 2)</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">(Level 3)</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td>Liabilities</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td> <td colspan="2">&#160;</td><td>&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 1.5pt">Derivative liability</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">7,948,478</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">-</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td><td style="width: 1%; padding-bottom: 1.5pt">&#160;</td> <td style="width: 1%; text-align: left; border-bottom: Black 1.5pt solid">&#160;</td><td style="width: 8%; text-align: right; border-bottom: Black 1.5pt solid">7,948,478</td><td style="width: 1%; text-align: left; padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 4pt">Total derivative liabilities measured at fair value</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">7,948,478</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">-</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">-</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: left; border-bottom: Black 4pt double">$</td><td style="text-align: right; border-bottom: Black 4pt double">7,948,478</td><td style="text-align: left; padding-bottom: 4pt">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate&#160;fair value:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td>Balance as of June 30, 2018</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">10,857,698</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: left">Fair value of derivative liabilities issued</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">162,174</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="text-align: left; padding-bottom: 1.5pt">(Gain) on change in derivative liability</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(3,071,394</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="padding-bottom: 4pt">Balance as of&#160;&#160;September 30, 2018</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">7,948,478</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Accounting for Derivatives </u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average series Binomial lattice formula pricing models to value the derivative instruments at inception and on subsequent valuation dates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif"><u>Recently Issued Accounting Pronouncements</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><font style="font-family: Times New Roman, Times, Serif">In August 2017, FASB issued accounting standards update ASU-2017-12, (Topic 815) &#8211; &#8220;Targeted Improvements to Accounting for Hedging Activities&#8221;, to require an entity to present the earnings effect of the hedging instrument in the same statement line item in which the earnings effect of the hedged item is reported. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods with the fiscal years beginning after December 15, 2020. Early adoption is permitted in any interim period after issuance of the update. The Company is currently evaluating the impact of the adoption of ASU-2017 on the Company&#8217;s financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In June 2018, FASB issued accounting standards update ASU 2018-07, (Topic 505) &#8211; &#8220;Shared-Based Payment Arrangements with Nonemployees&#8221;, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees will be aligned with the requirements for share-based payments granted to employees. Under the ASU 2018-07, the measurement of equity-classified nonemployee share-based payments will be fixed on the grant date, as defined in ASC 718, and will use the term nonemployee vesting period, rather than requisite service period. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted if financial statements have not yet been issued. The Company is currently evaluating the impact of the adoption of ASU 2018-07 on the Company&#8217;s financial statements.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In August 2018, the FASB issued to accounting standards update ASU 2018-13, (Topic 820) - &#8220;Fair Value Measurement&#8221;, which changes the unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance. The Company is currently evaluation the impact of the adoption of ASU 2018-13, on the Company&#8217;s financial statements.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><font style="font-family: Times New Roman, Times, Serif"><u>Net Earnings (Loss) per Share Calculations</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Net earnings (Loss) per share dictates the calculation of basic earnings (loss) per share and diluted earnings per share. Basic earnings (loss) per share are computed by dividing by the weighted average number of common shares outstanding during the year. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the effect of stock options and stock based awards (Note 4), plus the assumed conversion of convertible debt (Note 5).&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For the three months ended September 30, 2018, the Company calculated the dilutive impact of the outstanding stock options of 10,250,000, and the convertible debt of $2,043,300, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For the three months ended September 30, 2017, the Company calculated the dilutive impact of the outstanding stock options of 250,000, and the convertible debt of $1,653,000, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td style="text-align: justify">Convertible Promissory Notes, net of debt discount</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">1,806,545</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: justify; padding-bottom: 1.5pt">Less current portion</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">476,412</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="text-align: justify; padding-bottom: 4pt">Total long term liabilities</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,330,133</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0"></td><td style="width: 0.25in; text-align: left"><font style="font-family: Times New Roman, Times, Serif">5.</font></td><td style="text-align: justify"><font style="font-family: Times New Roman, Times, Serif">CONVERTIBLE PROMISSORY NOTES</font></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As of September 30, 2018, the outstanding convertible promissory notes are summarized as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in; background-color: White">&#160;</td> <td style="text-align: justify">Convertible Promissory Notes, net of debt discount</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 8%; text-align: right">1,806,545</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="background-color: White">&#160;</td> <td style="text-align: justify; padding-bottom: 1.5pt">Less current portion</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">476,412</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="background-color: White">&#160;</td> <td style="text-align: justify; padding-bottom: 4pt">Total long term liabilities</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,330,133</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Maturities of long-term net of debt discount are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">9/30</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in">&#160;</td> <td style="text-align: left">2020</td><td style="width: 1%">&#160;</td> <td style="text-align: left; width: 1%">&#160;</td><td style="text-align: right; width: 8%">230,000</td><td style="text-align: left; width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td> <td style="text-align: left">2021</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">905,300</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#160;</td> <td style="text-align: left; padding-bottom: 1.5pt">2022</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">194,833</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td> <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,330,133</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">At September 30, 2018, the $2,043,300 in convertible promissory notes had a remaining debt discount of $236,755, leaving a net balance of $1,806,545.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On April 9, 2015, the Company issued a 10% convertible promissory note (the &#8220;April Note&#8221;) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $50,000. The Company received additional tranches in the amount of $450,000 for an aggregate sum of $500,000. The April Note matured nine (9) months from the effective dates of each respective tranche. A second extension was granted to October 9, 2016. On January 19, 2017, the investor extended the April Note for an additional (60) months from the effective date of each tranche, which matures on April 9, 2020.The April Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective advance or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the April Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. During the period ended September 30, 2018, the Company issued 32,615,769, upon conversion of 44,500, plus accrued interest of $14,208, with a fair value loss of $234,834. The balance of the April Note as of September 30, 2018 was $330,300.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On January 28, 2016, the Company issued a 10% convertible promissory note (the &#8220;January Note&#8221;) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $10,000. The Company received additional tranches in the amount of $490,000 for an aggregate sum of $500,000. The January Note matures twelve (12) months from the effective dates of each respective tranche. On January 19, 2017, the investor extended the January Note for an additional sixty (60) months from the effective date of each tranche, which matures on January 27, 2022. The January Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the January Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The balance of the January Note as of September 30, 2018 was $500,000.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font: 7pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On February 3, 2017, the Company issued a 10% convertible promissory note (the &#8220;February Note&#8221;) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $60,000. The Company received additional tranches in the amount of $440,000 for an aggregate sum of $500,000. The February Note matures twelve (12) months from the effective dates of each respective tranche. The February Note matures on February 3, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. The February Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the February Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $4,947 during the three months ended September 30, 2018. The balance of the February Note as of September 30, 2018 was $500,000.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font: 7pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On November 9, 2017, for the sale of a 10% convertible promissory note (the &#8220;November Note&#8221;) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $45,000. The Company received additional tranches in the amount of $455,000 for an aggregate sum of $500,000. The November Note matures twelve (12) months from the effective dates of each respective tranche. The November Note matures on November 9, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. The November Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the November Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $38,366 during the three months ended September 30, 2018. The balance of the November Note as of September 30, 2018 was $500,000.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font: 7pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On June 27, 2018, for the sale of a 10% convertible promissory note (the &#8220;June Note&#8221;) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $50,000. The June Note matures twelve (12) months from the effective dates of each respective tranche. The June Note matures on June 27, 2019, with an automatic extension of sixty (60) months from the effective date of each tranche. The June Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the June Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $5,780 during the three months ended September 30, 2018. The balance of the June Note as of September 30, 2018 was $50,000.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font: 7pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On July 23, 2018, the Company entered into a convertible promissory note with an investor, providing for the sale by the Company of a 10% unsecured convertible note (the &#8220;July Note&#8221;) in the aggregate principal amount of up to $63,000. The July Note matures on July 23, 2019. The July Note may be converted into shares of the Company&#8217;s common stock at a conversion price of sixty-one (61%) percent of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the July Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $11,753 during the three months ended September 30, 2018.&#8239;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On August 10, 2018, the Company entered into a convertible promissory note with an investor, providing for the sale by the Company of a 10% unsecured convertible note (the &#8220;August Note&#8221;) in the aggregate principal amount of up to $100,000. The August Note matures on August 10, 2019, with an extension of sixty (60) months from the date of the note. The August Note may be converted into shares of the Company&#8217;s common stock at a conversion price of the lesser of a) $0.005 per share or b) sixty-one (61%) percent of the lowest trading price per common stock recorded on any trade day after the effective date. The conversion feature of the August Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $13,973 during the three months ended September 30, 2018.&#8239;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">ASC Topic 815 provides guidance applicable to convertible debt issued by the Company in instances where the number into which the debt can be converted is not fixed. For example, when a convertible debt converts at a discount to market based on the stock price on the date of conversion, ASC Topic 815 requires that the embedded conversion option of the convertible debt be bifurcated from the host contract and recorded at their fair value. In accounting for derivatives under accounting standards, the Company recorded a liability representing the estimated present value of the conversion feature considering the historic volatility of the Company&#8217;s stock, and a discount representing the imputed interest associated with the embedded derivative. The discount is amortized over the life of the convertible debt, and the derivative liability is adjusted periodically according to stock price fluctuations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="background-color: White">&#160;</td> <td style="text-align: left; border-bottom: Black 1.5pt solid">9/30</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Amount</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 0.25in">&#160;</td> <td style="text-align: left">2020</td><td style="width: 1%">&#160;</td> <td style="text-align: left; width: 1%">&#160;</td><td style="text-align: right; width: 8%">230,000</td><td style="text-align: left; width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td> <td style="text-align: left">2021</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">905,300</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#160;</td> <td style="text-align: left; padding-bottom: 1.5pt">2022</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">194,833</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td> <td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,330,133</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr></table> EX-101.SCH 5 hysr-20180930.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Statement of Shareholders' Deficit (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Condensed Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Basis Presentation link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Capital Stock link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Stock Options link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Convertible Promissory Notes link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Derivative Liabilities link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Summary of Significant Accounting Policies (Tables) link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Stock Options (Tables) link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Convertible Promissory Notes (Tables) link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Derivative Liabilities (Tables) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Summary of Significant Accounting Policies (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Summary of Significant Accounting Policies (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Capital Stock (Details) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Stock Options (Details) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Stock Options (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Convertible Promissory Notes (Details) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Convertible Promissory Notes (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Convertible Promissory Notes (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Derivative Liabilities (Details) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Derivative Liabilities (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Subsequent Events (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 6 hysr-20180930_cal.xml XBRL CALCULATION FILE EX-101.DEF 7 hysr-20180930_def.xml XBRL DEFINITION FILE EX-101.LAB 8 hysr-20180930_lab.xml XBRL LABEL FILE Equity Components [Axis] Retained Earnings [Member] Common Stock [Member] Additional Paid-In Capital [Member] Preferred Stock [Member] Measurement Frequency [Axis] Fair Value, Measurements, Recurring [Member] Fair Value, Hierarchy [Axis] Fair Value, Inputs, Level 3 [Member] Financial Instrument [Axis] Derivative liability [Member] Fair Value, Inputs, Level 2 [Member] Award Type [Axis] Employee Stock Option [Member] Nonqualified Stock Options [Member] Securities Purchase Agreements [Member] Debt Instrument [Axis] Convertible Promissory Notes Ten Percent [Member] Short-term Debt, Type [Axis] Convertible Promissory Notes Three [Member] Convertible Promissory Notes Four [Member] Convertible Notes Payable Five [Member] Range [Axis] Maximum [Member] Minimum [Member] Convertible Promissory Notes Six [Member] 10% Convertible Promissory Note [Member] Subsequent Event Type [Axis] Subsequent Event [Member] Convertible Debt [Member] Fair Value, Inputs, Level 1 [Member] 10% Unsecured Convertible Note [Member] July Note [Member] August Note [Member] Document and Entity Information [Abstract] Entity Registrant Name Entity Central Index Key Trading Symbol Amendment Flag Current Fiscal Year End Date Document Type Document Period End Date Document Fiscal Period Focus Document Fiscal Year Focus Entity Filer Category Entity Small Business Entity Emerging Growth Company Entity Common Stock, Shares Outstanding Statement of Financial Position [Abstract] ASSETS CURRENT ASSETS Cash Prepaid expense TOTAL CURRENT ASSETS PROPERTY & EQUIPMENT Computers and peripherals Less: accumulated depreciation NET PROPERTY AND EQUIPMENT OTHER ASSETS Deposits Domain, net of amortization of $3,603 and $3,514, respectively Patents, net of amortization of $5,622 and $4,642, respectively TOTAL OTHER ASSETS TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable Accrued expenses Derivative liability Convertible promissory notes, net of debt discount of $236,755 and $66,335, respectively TOTAL CURRENT LIABILITIES LONG TERM LIABILITIES Convertible promissory notes, net of debt discount of $167 and $38,514, respectively TOTAL LONG TERM LIABILITIES TOTAL LIABILITIES SHAREHOLDERS' DEFICIT Preferred Stock, $0.001 par value; 5,000,000 authorized preferred shares, no shares issued or outstanding Common Stock, $0.001 par value; 3,000,000,000 authorized common shares 885,073,787 and 852,458,018 shares issued and outstanding, respectively Additional Paid in Capital Accumulated deficit TOTAL SHAREHOLDERS' DEFICIT TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT Amortization of domain Amortization of patents Convertible promissory notes, net of debt discount for current liabilities Convertible promissory notes, net of debt discount for long term liabilities Preferred Stock, par value Preferred Stock, shares authorized Preferred Stock, shares issued Preferred Stock, shares outstanding Common Stock, par value Common Stock, shares authorized Common Stock, shares issued Common Stock, shares outstanding Income Statement [Abstract] REVENUE OPERATING EXPENSES General and administrative expenses Research and development cost Depreciation and amortization TOTAL OPERATING EXPENSES LOSS FROM OPERATIONS BEFORE OTHER INCOME (EXPENSES) OTHER INCOME/(EXPENSES) (Loss) on conversion of debt Gain on change in derivative liability Interest expense TOTAL OTHER (EXPENSES) INCOME NET INCOME (LOSS) BASIC AND DILUTED EARNING (LOSS) PER SHARE WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING BASIC AND DILUTED Statement [Table] Statement [Line Items] Preferred stock Common stock Additional Paid-in Capital Accumulated Deficit Balance Balance, shares Issuance of common stock for conversion of debt and accrued interest Issuance of common stock for conversion of debt and accrued interest, shares Stock based compensation cost Stock based compensation Net Income Balance Balance, shares Statement of Cash Flows [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) Adjustment to reconcile net income (loss) to net cash used in operating activities Depreciation & amortization expense (Gain) on change in derivative liability Loss on conversion of debt Amortization of debt discount recorded as interest expense (Increase) Decrease in change in assets: Prepaid expense Increase (Decrease) in change in liabilities: Accounts payable Accrued expenses NET CASH USED IN OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES Purchase of intangible assets NET CASH USED IN INVESTING ACTIVITIES: CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from convertible notes payable NET CASH PROVIDED BY FINANCING ACTIVITIES NET DECREASE IN CASH CASH, BEGINNING OF PERIOD CASH, END OF PERIOD SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Interest paid Taxes paid SUPPLEMENTAL DISCLOSURES OF NON CASH TRANSACTIONS Fair value of common stock upon conversion of convertible notes and accrued interest Organization, Consolidation and Presentation of Financial Statements [Abstract] BASIS PRESENTATION Accounting Policies [Abstract] SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Equity [Abstract] CAPITAL STOCK Disclosure of Compensation Related Costs, Share-based Payments [Abstract] STOCK OPTIONS Debt Disclosure [Abstract] CONVERTIBLE PROMISSORY NOTES Derivative Instruments and Hedging Activities Disclosure [Abstract] DERIVATIVE LIABILITIES Subsequent Events [Abstract] SUBSEQUENT EVENTS Cash and Cash Equivalent Use of Estimates Intangible Assets Net Earnings (Loss) per Share Calculations Stock based Compensation Fair Value of Financial Instruments Accounting for Derivatives Recently Issued Accounting Pronouncements Schedule of property and equipment estimated useful lives Schedule of intangible assets finite amortized over useful lives Schedule of net earnings per share calculations Schedule of measurement of assets and liabilities at fair value on recurring basis Schedule of reconciliation of the derivative liability Schedule of the Company's stock option activity and related information Schedule of convertible promissory notes Schedule of maturities of long-term debt Schedule of fair market value of the derivative liability Fair Value Measurements, Recurring and Nonrecurring [Table] Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Fair value on a recurring basis [Member] Fair Value Hierarchy and NAV [Axis] Level 1 [Member] Level 2 [Member] Level 3 [Member] Liabilities Total derivative liabilities measured at fair value Beginning balance Fair value of derivative liabilities issued Ending balance Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table] Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Stock options [Member] Summary of Significant Accounting Policies (Textual) Convertible debt Dilutive impact of outstanding stock options Amortization expense Accumulated Other Comprehensive Income (Loss) [Table] Accumulated Other Comprehensive Income (Loss) [Line Items] Capital Stock (Textual) Issuance of common stock (in shares) Principal amount of partial convertible promissory note Issuance of common stock on payment of accrued interest for convertible notes Aggregate fair value loss on settlement Conversion prices ranging Stock option [Member] Number of Options Outstanding, beginning of period Granted Exercised Forfeited/Expired Outstanding, end of period Exercisable at the end of period Weighted average exercise price Outstanding, beginning of period Granted Exercised Forfeited/Expired Outstanding, end of year Exercisable at the end of period Weighted average fair value of options granted during the year Class of Warrant or Right [Table] Class of Warrant or Right [Line Items] Non-qualified common stock options [Member] Stock Options (Textual) Non-qualified common stock outstanding Exercisable price Stock options exercisable Description of maturity dates Stock compensation expense Stock option vested exercisable Non-qualified common stock issued options Convertible Promissory Notes, net of debt discount Less current portion Total long term liabilities 9/30 2020 2021 2022 Maturities of long-term net of debt discount, Total Schedule of Short-term Debt [Table] Short-term Debt [Line Items] April Note [Member] January Note [Member] February Note [Member] November Note [Member] June Note [Member] 10% Convertible Promissory Note [Member] Convertible Promissory Notes (Textual) Amount received in consideration of sale of debt Convertible notes, interest rate Accrued interest Amount of additional tranches received Convertible promissory note principal amount Aggregate principal amount Conversion price Percentage of trading price Debt instrument, term Debt instrument, maturity date description Maturity date Debt instrument, convertible, terms of conversion feature Debt instrument, increase (decrease), Net Conversation of stock, description Percentage of beneficial ownership Penalty amount Convertible notes payable Interest due from the investor Aggregate fair value loss Debt discount Net balance of convertible debt Derivative [Table] Derivative [Line Items] Risk free interest rate, minimum Risk free interest rate, maximum Stock volatility factor, minimum Stock volatility factor, maximum Weighted average expected option life Expected dividend yield Convertible notes [Member] Derivative Liabilities (Textual) Notes payables Fair value of the derivative liability Net gain on derivative liability Loss on conversion of debt Subsequent Events (Textual) Consideration received Unsecured convertible note, percentage Aggregate principal amount Unsecured convertible note, description The amount of amortization related to domain. Carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Convertible Notes Payable, excluding current portion. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder. Name of the type of debt instrument, including, but not limited to, draws against credit facilities. Debt instrument initial additional tranches received. Net carrying amount after amortization as of balance sheet date pertaining to the solar domain. Fair value of derivative liabilities issued. Amount after amortization of the costs pertaining to the exclusive legal rights granted to the owner of the patent to exploit an invention or a process for a period of time specified by law. Such costs may have been expended to directly apply and receive patent rights, or to acquire such rights. Non qualified common stock. Represents non qualified stock options. Represents the name and details of the purchase agreement. The dilutive impact of outstanding stock options. Assets, Current Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Property, Plant and Equipment, Net Domain, Net Assets, Noncurrent, Other than Noncurrent Investments and Property, Plant and Equipment Assets Liabilities, Current Liabilities, Noncurrent Liabilities [Default Label] Stockholders' Equity Attributable to Parent Liabilities and Equity Amortization, Domain Of Solar Operating Expenses Operating Income (Loss) Interest Expense Nonoperating Income (Expense) Shares, Outstanding Derivative, Gain (Loss) on Derivative, Net Increase (Decrease) in Prepaid Expense Increase (Decrease) in Accounts Payable Increase (Decrease) in Accrued Liabilities Net Cash Provided by (Used in) Operating Activities Payments to Acquire Intangible Assets Net Cash Provided by (Used in) Investing Activities Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) Derivative Liability Derivative, Loss on Derivative Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price Convertible Long Term Notes Payable One Long-term Debt, Maturing in Years Four and Five Debt Instrument Initial Additional Tranches Received1 Debt Instrument, Annual Principal Payment EX-101.PRE 9 hysr-20180930_pre.xml XBRL PRESENTATION FILE XML 10 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document and Entity Information - shares
3 Months Ended
Sep. 30, 2018
Oct. 31, 2018
Document and Entity Information [Abstract]    
Entity Registrant Name Hypersolar, Inc.  
Entity Central Index Key 0001481028  
Trading Symbol HYSR  
Amendment Flag false  
Current Fiscal Year End Date --06-30  
Document Type 10-Q  
Document Period End Date Sep. 30, 2018  
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2019  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Common Stock, Shares Outstanding   885,073,787
XML 11 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Balance Sheets - USD ($)
Sep. 30, 2018
Jun. 30, 2018
CURRENT ASSETS    
Cash $ 75,086 $ 97,326
Prepaid expense 3,569 3,942
TOTAL CURRENT ASSETS 78,655 101,268
PROPERTY & EQUIPMENT    
Computers and peripherals 8,100 8,100
Less: accumulated depreciation (6,584) (6,427)
NET PROPERTY AND EQUIPMENT 1,516 1,673
OTHER ASSETS    
Deposits 900 900
Domain, net of amortization of $3,603 and $3,514, respectively 1,712 1,801
Patents, net of amortization of $5,622 and $4,642, respectively 99,171 90,930
TOTAL OTHER ASSETS 101,783 93,631
TOTAL ASSETS 181,954 196,572
CURRENT LIABILITIES    
Accounts payable 146,525 111,088
Accrued expenses 504,368 467,822
Derivative liability 7,948,478 10,857,698
Convertible promissory notes, net of debt discount of $236,755 and $66,335, respectively 476,412 405,714
TOTAL CURRENT LIABILITIES 9,075,783 11,842,322
LONG TERM LIABILITIES    
Convertible promissory notes, net of debt discount of $167 and $38,514, respectively 1,330,133 1,369,686
TOTAL LONG TERM LIABILITIES 1,330,133 1,369,686
TOTAL LIABILITIES 10,405,916 13,212,008
SHAREHOLDERS' DEFICIT    
Preferred Stock, $0.001 par value; 5,000,000 authorized preferred shares, no shares issued or outstanding
Common Stock, $0.001 par value; 3,000,000,000 authorized common shares 885,073,787 and 852,458,018 shares issued and outstanding, respectively 885,074 852,458
Additional Paid in Capital 8,392,546 8,131,620
Accumulated deficit (19,501,582) (21,999,514)
TOTAL SHAREHOLDERS' DEFICIT (10,223,962) (13,015,436)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $ 181,954 $ 196,572
XML 12 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Balance Sheets (Parenthetical) - USD ($)
Sep. 30, 2018
Jun. 30, 2017
Statement of Financial Position [Abstract]    
Amortization of domain $ 3,603 $ 3,514
Amortization of patents 5,622 4,642
Convertible promissory notes, net of debt discount for current liabilities 236,755 66,335
Convertible promissory notes, net of debt discount for long term liabilities $ 167 $ 38,514
Preferred Stock, par value $ 0.001 $ 0.001
Preferred Stock, shares authorized 5,000,000 5,000,000
Preferred Stock, shares issued
Preferred Stock, shares outstanding
Common Stock, par value $ 0.001 $ 0.001
Common Stock, shares authorized 3,000,000,000 3,000,000,000
Common Stock, shares issued 885,073,787 852,458,018
Common Stock, shares outstanding 885,073,787 852,458,018
XML 13 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]    
REVENUE
OPERATING EXPENSES    
General and administrative expenses 136,988 118,247
Research and development cost 74,588 66,553
Depreciation and amortization 1,225 1,914
TOTAL OPERATING EXPENSES 212,801 186,714
LOSS FROM OPERATIONS BEFORE OTHER INCOME (EXPENSES) (212,801) (186,714)
OTHER INCOME/(EXPENSES)    
(Loss) on conversion of debt (234,834)
Gain on change in derivative liability 3,071,394 51,772
Interest expense (125,827) (93,198)
TOTAL OTHER (EXPENSES) INCOME 2,710,733 (41,426)
NET INCOME (LOSS) $ 2,497,932 $ (228,140)
BASIC AND DILUTED EARNING (LOSS) PER SHARE $ 0.003 $ 0.000
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING    
BASIC AND DILUTED 861,320,999 699,483,259
XML 14 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Statement of Shareholders' Deficit (Unaudited) - 3 months ended Sep. 30, 2018 - USD ($)
Preferred stock
Common stock
Additional Paid-in Capital
Accumulated Deficit
Total
Balance at Jun. 30, 2018 $ 852,458 $ 8,131,620 $ (21,999,514) $ (13,015,436)
Balance, shares at Jun. 30, 2018 852,458,018      
Issuance of common stock for conversion of debt and accrued interest $ 32,616 260,926 293,542
Issuance of common stock for conversion of debt and accrued interest, shares 32,615,769      
Net Income 2,497,932 2,497,932
Balance at Sep. 30, 2018 $ 885,074 $ 8,392,546 $ (19,501,582) $ (10,223,962)
Balance, shares at Sep. 30, 2018 885,073,787      
XML 15 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 2,497,932 $ (228,140)
Adjustment to reconcile net income (loss) to net cash used in operating activities    
Depreciation & amortization expense 1,225 1,914
(Gain) on change in derivative liability (3,071,394) (51,772)
Loss on conversion of debt 234,834
Amortization of debt discount recorded as interest expense 74,819 52,992
(Increase) Decrease in change in assets:    
Prepaid expense 373 2,500
Increase (Decrease) in change in liabilities:    
Accounts payable 35,437 31,958
Accrued expenses 50,755 40,206
NET CASH USED IN OPERATING ACTIVITIES (176,019) (150,342)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of intangible assets (9,221) (3,366)
NET CASH USED IN INVESTING ACTIVITIES: (9,221) (3,366)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible notes payable 163,000 120,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 163,000 120,000
NET DECREASE IN CASH (22,240) (33,708)
CASH, BEGINNING OF PERIOD 97,326 80,133
CASH, END OF PERIOD 75,086 46,425
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest paid 253
Taxes paid
SUPPLEMENTAL DISCLOSURES OF NON CASH TRANSACTIONS    
Fair value of common stock upon conversion of convertible notes and accrued interest $ 293,542
XML 16 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Basis Presentation
3 Months Ended
Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS PRESENTATION

1.BASIS PRESENTATION

 

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of S-X Regulation Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. Operating results for the three months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending June 30, 2019.  For further information refer to the financial statements and footnotes thereto included in the Company’s Form 10-K for the year ended June 30, 2018.

 

Going Concern

The accompanying condensed financial statements have been prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets and liabilities and commitments in the normal course of business. The accompanying financial statements do not reflect any adjustments that might result if the Company is unable to continue as a going concern. The Company does not generate revenue, and has negative cash flows from operations, which raise substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern and appropriateness of using the going concern basis is dependent upon, among other things, additional cash infusion. The Company has historically obtained funds through private placement offerings of equity and debt. Management believes that it will be able to continue to raise funds by sale of its securities to its existing shareholders and prospective new investors to provide the additional cash needed to meet the Company’s obligations as they become due, and will allow the development of its core business. There is no assurance that the Company will be able to continue raising the required capital.

XML 17 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies
3 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

This summary of significant accounting policies of HyperSolar, Inc. is presented to assist in understanding the Company’s financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements.

 

Cash and Cash Equivalent

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

 

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements. Significant estimates made in preparing these financial statements include the estimate of useful lives of intangible assets, and the deferred tax valuation allowance. Actual results could differ from those estimates.

 

Intangible Assets

The Company has patent applications to protect the inventions and processes behind its proprietary bio-based back-sheet, a protective covering for the back of photovoltaic solar modules traditionally made from petroleum-based film. During the three months ended September 30, 2018, the Company reviewed the capitalized patents for impairment in accordance with ASC 350, and determined there was no impairment. Intangible assets that have finite useful lives continue to be amortized over their useful lives.

 

The Company recognized amortization expense of $1,069 and $1,914 for the three months ended September 30, 2018 and 2017, respectively.

 

Net Earnings (Loss) per Share Calculations

Net earnings (Loss) per share dictates the calculation of basic earnings (loss) per share and diluted earnings per share. Basic earnings (loss) per share are computed by dividing by the weighted average number of common shares outstanding during the year. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the effect of stock options and stock based awards (Note 4), plus the assumed conversion of convertible debt (Note 5).  

 

For the three months ended September 30, 2018, the Company calculated the dilutive impact of the outstanding stock options of 10,250,000, and the convertible debt of $2,043,300, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive.

 

For the three months ended September 30, 2017, the Company calculated the dilutive impact of the outstanding stock options of 250,000, and the convertible debt of $1,653,000, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive. 

  

Stock based Compensation

The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option and warrant grants issued and vesting to employees based on the authoritative guidance provided by the Financial Accounting Standards Board whereas the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested and the total stock-based compensation charge is recorded in the period of the measurement date.

 

Fair Value of Financial Instruments

Fair value of financial instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of September 30, 2018, the amounts reported for cash, accrued interest and other expenses, notes payables, and derivative liability approximate the fair value because of their short maturities.

 

We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements.

 

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include:

 

Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets;
Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and
Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

 

We measure certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows at September 30, 2018 (See Note 6):

  

     Total   (Level 1)   (Level 2)   (Level 3) 
  Liabilities                
  Derivative liability   7,948,478    -    -    7,948,478 
  Total derivative liabilities measured at fair value  $7,948,478   $-   $-   $7,948,478 

 

The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value:

 

  Balance as of June 30, 2018  $10,857,698 
  Fair value of derivative liabilities issued   162,174 
  (Gain) on change in derivative liability   (3,071,394)
  Balance as of  September 30, 2018  $7,948,478 

   

Accounting for Derivatives

The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average series Binomial lattice formula pricing models to value the derivative instruments at inception and on subsequent valuation dates.

 

The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

 

Recently Issued Accounting Pronouncements

In August 2017, FASB issued accounting standards update ASU-2017-12, (Topic 815) – “Targeted Improvements to Accounting for Hedging Activities”, to require an entity to present the earnings effect of the hedging instrument in the same statement line item in which the earnings effect of the hedged item is reported. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods with the fiscal years beginning after December 15, 2020. Early adoption is permitted in any interim period after issuance of the update. The Company is currently evaluating the impact of the adoption of ASU-2017 on the Company’s financial statements.

 

In June 2018, FASB issued accounting standards update ASU 2018-07, (Topic 505) – “Shared-Based Payment Arrangements with Nonemployees”, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees will be aligned with the requirements for share-based payments granted to employees. Under the ASU 2018-07, the measurement of equity-classified nonemployee share-based payments will be fixed on the grant date, as defined in ASC 718, and will use the term nonemployee vesting period, rather than requisite service period. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted if financial statements have not yet been issued. The Company is currently evaluating the impact of the adoption of ASU 2018-07 on the Company’s financial statements. 

 

In August 2018, the FASB issued to accounting standards update ASU 2018-13, (Topic 820) - “Fair Value Measurement”, which changes the unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance. The Company is currently evaluation the impact of the adoption of ASU 2018-13, on the Company’s financial statements. 

 

Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed financial statements.

XML 18 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Capital Stock
3 Months Ended
Sep. 30, 2018
Equity [Abstract]  
CAPITAL STOCK
3.CAPITAL STOCK

 

During the three months ended September 30, 2018, the Company issued 32,615,769 shares of common stock upon conversion of convertible notes in the amount of $44,500 in principal, plus accrued interest of $14,208, with an aggregate fair value loss on settlement of $234,834, based upon a conversion price of $0.009.

XML 19 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stock Options
3 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK OPTIONS

4.STOCK OPTIONS

 

Options

As of September 30, 2018, 10,250,000 non-qualified common stock options were outstanding. Each option expires on the date specified in the option agreement, which date is not later than the fifth (5th) anniversary from the grant date of the options. As of September 30, 2018, 250,000 options are fully vested with a maturity date of March 31, 2020, and are exercisable at an exercise price of $0.02245 per share, and 10,000,000 non-qualified common stock options, which vest one-third immediately, and one-third the second and third year, whereby, the options are fully vested with a maturity date of October 2, 2022, and are exercisable at an exercise price of $0.01 per share.

  

A summary of the Company’s stock option activity and related information follows:

 

     9/30/2018   9/30/2017 
         Weighted       Weighted 
     Number   average   Number   average 
     of   exercise   of   exercise 
     Options   price   Options   price 
  Outstanding, beginning of period   10,250,000   $0.01    250,000   $0.02 
  Granted   -    -    -    - 
  Exercised   -    -    -    - 
  Forfeited/Expired   -    -    -    - 
  Outstanding, end of period   10,250,000   $0.01    250,000   $0.02 
  Exercisable at the end of period   3,583,333   $0.01    250,000   $0.02 

 

The stock based compensation expense recognized in the statement of operations during the three months ended September 30, 2018 and 2017, related to the granting of these options was $0, respectively.

XML 20 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
Convertible Promissory Notes
3 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
CONVERTIBLE PROMISSORY NOTES

5.CONVERTIBLE PROMISSORY NOTES

 

As of September 30, 2018, the outstanding convertible promissory notes are summarized as follows:

  

  Convertible Promissory Notes, net of debt discount  $1,806,545 
  Less current portion   476,412 
  Total long term liabilities  $1,330,133 

 

Maturities of long-term net of debt discount are as follows:

   

  9/30  Amount 
  2020   230,000 
  2021   905,300 
  2022   194,833 
     $1,330,133 

 

At September 30, 2018, the $2,043,300 in convertible promissory notes had a remaining debt discount of $236,755, leaving a net balance of $1,806,545.

 

On April 9, 2015, the Company issued a 10% convertible promissory note (the “April Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $50,000. The Company received additional tranches in the amount of $450,000 for an aggregate sum of $500,000. The April Note matured nine (9) months from the effective dates of each respective tranche. A second extension was granted to October 9, 2016. On January 19, 2017, the investor extended the April Note for an additional (60) months from the effective date of each tranche, which matures on April 9, 2020.The April Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective advance or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the April Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. During the period ended September 30, 2018, the Company issued 32,615,769, upon conversion of 44,500, plus accrued interest of $14,208, with a fair value loss of $234,834. The balance of the April Note as of September 30, 2018 was $330,300.

  

On January 28, 2016, the Company issued a 10% convertible promissory note (the “January Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $10,000. The Company received additional tranches in the amount of $490,000 for an aggregate sum of $500,000. The January Note matures twelve (12) months from the effective dates of each respective tranche. On January 19, 2017, the investor extended the January Note for an additional sixty (60) months from the effective date of each tranche, which matures on January 27, 2022. The January Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the January Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The balance of the January Note as of September 30, 2018 was $500,000.

 

On February 3, 2017, the Company issued a 10% convertible promissory note (the “February Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $60,000. The Company received additional tranches in the amount of $440,000 for an aggregate sum of $500,000. The February Note matures twelve (12) months from the effective dates of each respective tranche. The February Note matures on February 3, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. The February Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the February Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $4,947 during the three months ended September 30, 2018. The balance of the February Note as of September 30, 2018 was $500,000.

 

On November 9, 2017, for the sale of a 10% convertible promissory note (the “November Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $45,000. The Company received additional tranches in the amount of $455,000 for an aggregate sum of $500,000. The November Note matures twelve (12) months from the effective dates of each respective tranche. The November Note matures on November 9, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche. The November Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the November Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $38,366 during the three months ended September 30, 2018. The balance of the November Note as of September 30, 2018 was $500,000.

 

On June 27, 2018, for the sale of a 10% convertible promissory note (the “June Note”) in the aggregate principal amount of up to $500,000. Upon execution of the convertible promissory note, the Company received a tranche of $50,000. The June Note matures twelve (12) months from the effective dates of each respective tranche. The June Note matures on June 27, 2019, with an automatic extension of sixty (60) months from the effective date of each tranche. The June Note is convertible into shares of common stock of the Company at a price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock. If the Company fails to deliver shares in accordance with the timeframe of three (3) business days of the receipt of a notice of conversion, the lender, at any time prior to selling all of those shares, may rescind any portion, in whole or in part of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the principal sum with the rescinded conversion shares returned to the Company. In no event shall the lender be entitled to convert any portion of the June Note such that would result in beneficial ownership by the lender and its affiliates of more than 4.99% of the outstanding shares of common stock of the Company. In addition, for each conversion, in the event that shares are not delivered by the fourth business day (inclusive of the day of conversion), a penalty of $1,500 per day shall be assessed for each day after the third business day (inclusive of the day of the conversion) until the shares are delivered. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $5,780 during the three months ended September 30, 2018. The balance of the June Note as of September 30, 2018 was $50,000.

  

On July 23, 2018, the Company entered into a convertible promissory note with an investor, providing for the sale by the Company of a 10% unsecured convertible note (the “July Note”) in the aggregate principal amount of up to $63,000. The July Note matures on July 23, 2019. The July Note may be converted into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date. The conversion feature of the July Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $11,753 during the three months ended September 30, 2018.  

 

On August 10, 2018, the Company entered into a convertible promissory note with an investor, providing for the sale by the Company of a 10% unsecured convertible note (the “August Note”) in the aggregate principal amount of up to $100,000. The August Note matures on August 10, 2019, with an extension of sixty (60) months from the date of the note. The August Note may be converted into shares of the Company’s common stock at a conversion price of the lesser of a) $0.005 per share or b) sixty-one (61%) percent of the lowest trading price per common stock recorded on any trade day after the effective date. The conversion feature of the August Note was considered a derivative in accordance with current accounting guidelines because of the reset conversion features of the Note. The Company recorded amortization of debt discount, which was recognized as interest expense in the amount of $13,973 during the three months ended September 30, 2018.  

 

ASC Topic 815 provides guidance applicable to convertible debt issued by the Company in instances where the number into which the debt can be converted is not fixed. For example, when a convertible debt converts at a discount to market based on the stock price on the date of conversion, ASC Topic 815 requires that the embedded conversion option of the convertible debt be bifurcated from the host contract and recorded at their fair value. In accounting for derivatives under accounting standards, the Company recorded a liability representing the estimated present value of the conversion feature considering the historic volatility of the Company’s stock, and a discount representing the imputed interest associated with the embedded derivative. The discount is amortized over the life of the convertible debt, and the derivative liability is adjusted periodically according to stock price fluctuations.

XML 21 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Liabilities
3 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE LIABILITIES

6.DERIVATIVE LIABILITIES

 

The convertible notes (the “Notes”) issued and described in Note 5 do not have fixed settlement provisions because their conversion prices are not fixed. The conversion features have been characterized as derivative liabilities to be re-measured at the end of every reporting period with the change in value reported in the statement of operations.

 

During the three months ended September 30, 2018, as a result of the Notes issued that were accounted for as derivative liabilities, we determined that the fair value of the conversion feature of the convertible notes at issuance was $162,174, based upon the Binomial lattice formula. We recorded the full value of the derivative as a liability at issuance with an offset to valuation discount, which will be amortized over the life of the Notes.

 

During the three months ended September 30, 2018, the Company recorded a net gain in change in derivative of $3,071,394 in the statement of operations due to the change in fair value of the remaining notes, for the three months ended September 30, 2018. The Company also recognized a loss on conversion of debt in the amount of $234,834 in the statement of operations at September 30, 2018. At September 30, 2018, the fair value of the derivative liability was $7,948,478.

 

For purpose of determining the fair market value of the derivative liability for the embedded conversion, the Company used the Binomial lattice formula. The significant assumptions used in the Binomial lattice formula of the derivatives are as follows:

  

  Risk free interest rate 2.19% - 2.94%
  Stock volatility factor 43.0% - 138.0%
  Weighted average expected option life 1 year - 5 year
  Expected dividend yield None
XML 22 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events
3 Months Ended
Sep. 30, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
7.SUBSEQUENT EVENTS

 

Management evaluated subsequent events as of the date of the financial statements pursuant to ASC TOPIC 855, and reported the following events:

 

On October 3, 2018, the Company received $53,000 on the 10% unsecured convertible note (“October Note”) in the aggregate principal amount of up to $53,000, with a maturity date of October 3, 2019. The October Note is convertible into shares of common stock of the Company at a price equal to sixty one percent (61%) per share of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date.

 

On October 9, 2018, the Company received $40,000 on the 10% unsecured convertible note (“June Note”) in the aggregate principal amount of up to $500,000. The June Note is convertible into shares of common stock of the Company at a price equal to a) $0.01 per share or fifty percent (50%) of the lowest trading prices per common stock since the original effective date.

 

On October 12, 2018, the lender extended the November Note for sixty (60) months from the effective date. The other terms and conditions remained unchanged.

XML 23 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Policies)
3 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Cash and Cash Equivalent

Cash and Cash Equivalent

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the accompanying financial statements. Significant estimates made in preparing these financial statements include the estimate of useful lives of intangible assets, and the deferred tax valuation allowance. Actual results could differ from those estimates.

Intangible Assets

Intangible Assets

The Company has patent applications to protect the inventions and processes behind its proprietary bio-based back-sheet, a protective covering for the back of photovoltaic solar modules traditionally made from petroleum-based film. During the three months ended September 30, 2018, the Company reviewed the capitalized patents for impairment in accordance with ASC 350, and determined there was no impairment. Intangible assets that have finite useful lives continue to be amortized over their useful lives.

 

The Company recognized amortization expense of $1,069 and $1,914 for the three months ended September 30, 2018 and 2017, respectively.

Net Earnings (Loss) per Share Calculations

Net Earnings (Loss) per Share Calculations

Net earnings (Loss) per share dictates the calculation of basic earnings (loss) per share and diluted earnings per share. Basic earnings (loss) per share are computed by dividing by the weighted average number of common shares outstanding during the year. Diluted net earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the effect of stock options and stock based awards (Note 4), plus the assumed conversion of convertible debt (Note 5).  

 

For the three months ended September 30, 2018, the Company calculated the dilutive impact of the outstanding stock options of 10,250,000, and the convertible debt of $2,043,300, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive.

 

For the three months ended September 30, 2017, the Company calculated the dilutive impact of the outstanding stock options of 250,000, and the convertible debt of $1,653,000, which is convertible into shares of common stock. The stock options and the convertible debt were not included in the calculation of net earnings per share, because their impact was antidilutive.

Stock based Compensation

Stock based Compensation

The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option and warrant grants issued and vesting to employees based on the authoritative guidance provided by the Financial Accounting Standards Board whereas the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the Financial Accounting Standards Board whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested and the total stock-based compensation charge is recorded in the period of the measurement date.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Fair value of financial instruments, requires disclosure of the fair value information, whether or not recognized in the balance sheet, where it is practicable to estimate that value. As of September 30, 2018, the amounts reported for cash, accrued interest and other expenses, notes payables, and derivative liability approximate the fair value because of their short maturities.

 

We adopted ASC Topic 820 for financial instruments measured as fair value on a recurring basis. ASC Topic 820 defines fair value, established a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements.

 

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 established a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include:

 

Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets;
Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and
Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

 

We measure certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows at September 30, 2018 (See Note 6):

  

     Total   (Level 1)   (Level 2)   (Level 3) 
  Liabilities                
  Derivative liability   7,948,478    -    -    7,948,478 
  Total derivative liabilities measured at fair value  $7,948,478   $-   $-   $7,948,478 

 

The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value:

 

  Balance as of June 30, 2018  $10,857,698 
  Fair value of derivative liabilities issued   162,174 
  (Gain) on change in derivative liability   (3,071,394)
  Balance as of  September 30, 2018  $7,948,478 
Accounting for Derivatives

Accounting for Derivatives

The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a probability weighted average series Binomial lattice formula pricing models to value the derivative instruments at inception and on subsequent valuation dates.

 

The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In August 2017, FASB issued accounting standards update ASU-2017-12, (Topic 815) – “Targeted Improvements to Accounting for Hedging Activities”, to require an entity to present the earnings effect of the hedging instrument in the same statement line item in which the earnings effect of the hedged item is reported. The amendments in this update are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods with the fiscal years beginning after December 15, 2020. Early adoption is permitted in any interim period after issuance of the update. The Company is currently evaluating the impact of the adoption of ASU-2017 on the Company’s financial statements.

 

In June 2018, FASB issued accounting standards update ASU 2018-07, (Topic 505) – “Shared-Based Payment Arrangements with Nonemployees”, which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees will be aligned with the requirements for share-based payments granted to employees. Under the ASU 2018-07, the measurement of equity-classified nonemployee share-based payments will be fixed on the grant date, as defined in ASC 718, and will use the term nonemployee vesting period, rather than requisite service period. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted if financial statements have not yet been issued. The Company is currently evaluating the impact of the adoption of ASU 2018-07 on the Company’s financial statements. 

 

In August 2018, the FASB issued to accounting standards update ASU 2018-13, (Topic 820) - “Fair Value Measurement”, which changes the unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance. The Company is currently evaluation the impact of the adoption of ASU 2018-13, on the Company’s financial statements. 

 

Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying condensed financial statements.

XML 24 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Schedule of measurement of assets and liabilities at fair value on recurring basis

     Total   (Level 1)   (Level 2)   (Level 3) 
  Liabilities                
  Derivative liability   7,948,478    -    -    7,948,478 
  Total derivative liabilities measured at fair value  $7,948,478   $-   $-   $7,948,478 
Schedule of reconciliation of the derivative liability

  Balance as of June 30, 2018  $10,857,698 
  Fair value of derivative liabilities issued   162,174 
  (Gain) on change in derivative liability   (3,071,394)
  Balance as of  September 30, 2018  $7,948,478 
XML 25 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stock Options (Tables)
3 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of the Company's stock option activity and related information

     9/30/2018   9/30/2017 
         Weighted       Weighted 
     Number   average   Number   average 
     of   exercise   of   exercise 
     Options   price   Options   price 
  Outstanding, beginning of period   10,250,000   $0.01    250,000   $0.02 
  Granted   -    -    -    - 
  Exercised   -    -    -    - 
  Forfeited/Expired   -    -    -    - 
  Outstanding, end of period   10,250,000   $0.01    250,000   $0.02 
  Exercisable at the end of period   3,583,333   $0.01    250,000   $0.02 
XML 26 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Convertible Promissory Notes (Tables)
3 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Schedule of convertible promissory notes

  Convertible Promissory Notes, net of debt discount  $1,806,545 
  Less current portion   476,412 
  Total long term liabilities  $1,330,133 
Schedule of maturities of long-term debt

  9/30  Amount 
  2020   230,000 
  2021   905,300 
  2022   194,833 
     $1,330,133 
XML 27 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Liabilities (Tables)
3 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair market value of the derivative liability

  Risk free interest rate 2.19% - 2.94%
  Stock volatility factor 43.0% - 138.0%
  Weighted average expected option life 1 year - 5 year
  Expected dividend yield None
XML 28 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Details) - Fair value on a recurring basis [Member] - USD ($)
Sep. 30, 2018
Jun. 30, 2018
Liabilities    
Total derivative liabilities measured at fair value $ 7,948,478  
Level 1 [Member]    
Liabilities    
Total derivative liabilities measured at fair value  
Level 2 [Member]    
Liabilities    
Total derivative liabilities measured at fair value  
Level 3 [Member]    
Liabilities    
Total derivative liabilities measured at fair value 7,948,478 $ 10,857,698
Derivative liability [Member]    
Liabilities    
Total derivative liabilities measured at fair value 7,948,478  
Derivative liability [Member] | Level 1 [Member]    
Liabilities    
Total derivative liabilities measured at fair value  
Derivative liability [Member] | Level 2 [Member]    
Liabilities    
Total derivative liabilities measured at fair value  
Derivative liability [Member] | Level 3 [Member]    
Liabilities    
Total derivative liabilities measured at fair value $ 7,948,478  
XML 29 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Details 1) - USD ($)
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
(Gain) on change in derivative liability $ (3,071,394) $ (51,772)
Fair Value, Measurements, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Ending balance 7,948,478  
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Beginning balance 10,857,698  
Fair value of derivative liabilities issued 162,174  
(Gain) on change in derivative liability (3,071,394)  
Ending balance $ 7,948,478  
XML 30 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Details Textual) - USD ($)
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Summary of Significant Accounting Policies (Textual)    
Convertible debt $ 2,043,300  
Amortization expense 1,069 $ 1,914
Stock options [Member]    
Summary of Significant Accounting Policies (Textual)    
Convertible debt $ 2,043,300 $ 1,653,000
Dilutive impact of outstanding stock options 10,250,000 250,000
XML 31 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Capital Stock (Details) - Common Stock [Member]
3 Months Ended
Sep. 30, 2018
USD ($)
$ / shares
shares
Accumulated Other Comprehensive Income (Loss) [Line Items]  
Issuance of common stock (in shares) | shares 32,615,769
Principal amount of partial convertible promissory note $ 44,500
Issuance of common stock on payment of accrued interest for convertible notes 14,208
Aggregate fair value loss on settlement $ 234,834
Conversion prices ranging | $ / shares $ 0.009
XML 32 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stock Options (Details) - Stock option [Member] - $ / shares
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Number of Options    
Outstanding, beginning of period 10,250,000 250,000
Granted
Exercised
Forfeited/Expired
Outstanding, end of period 10,250,000 250,000
Exercisable at the end of period 3,583,333 250,000
Weighted average exercise price    
Outstanding, beginning of period $ 0.01 $ 0.02
Granted
Exercised
Forfeited/Expired  
Outstanding, end of year 0.01 0.02
Exercisable at the end of period $ 0.01 $ 0.02
XML 33 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stock Options (Details Textual) - USD ($)
1 Months Ended 3 Months Ended
Oct. 02, 2017
Sep. 30, 2018
Mar. 31, 2017
Class of Warrant or Right [Line Items]      
Stock compensation expense   $ 0 $ 0
Non-qualified common stock options [Member]      
Class of Warrant or Right [Line Items]      
Non-qualified common stock outstanding   10,250,000  
Exercisable price $ 0.01 $ 0.02245  
Description of maturity dates Maturity date of October 2, 2022. Maturity date of March 31, 2020.  
Stock option vested exercisable   250,000  
Non-qualified common stock issued options 10,000,000    
XML 34 R25.htm IDEA: XBRL DOCUMENT v3.10.0.1
Convertible Promissory Notes (Details)
Sep. 30, 2018
USD ($)
Debt Disclosure [Abstract]  
Convertible Promissory Notes, net of debt discount $ 1,806,545
Less current portion 476,412
Total long term liabilities $ 1,330,133
XML 35 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Convertible Promissory Notes (Details 1)
Sep. 30, 2018
USD ($)
9/30  
2020 $ 230,000
2021 905,300
2022 194,833
Maturities of long-term net of debt discount, Total $ 1,330,133
XML 36 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Convertible Promissory Notes (Details Textual) - USD ($)
1 Months Ended 3 Months Ended
Aug. 10, 2018
Jul. 23, 2018
Feb. 03, 2017
Jan. 28, 2016
Apr. 09, 2015
Jun. 27, 2018
Nov. 09, 2017
Sep. 30, 2018
Short-term Debt [Line Items]                
Convertible promissory note principal amount               $ 1,330,133
Convertible debt               2,043,300
Debt discount               236,755
Net balance of convertible debt               1,806,545
August Note [Member] | Securities Purchase Agreements [Member] | 10% Unsecured Convertible Note [Member]                
Short-term Debt [Line Items]                
Convertible notes, interest rate 10.00%              
Accrued interest               13,973
Aggregate principal amount $ 100,000              
Debt instrument, term 60 months              
Debt instrument, maturity date description <p style="margin: 0">The August Note matures on August 10, 2019, with an extension of sixty (60) months from the date of the note.</p>              
Maturity date Aug. 10, 2019              
Debt instrument, convertible, terms of conversion feature <p style="margin: 0">The August Note may be converted into shares of the Company’s common stock at a conversion price of the lesser of a) $0.005 per share or b) sixty-one (61%) percent of the lowest trading price per common stock recorded on any trade day after the effective date.</p>              
July Note [Member] | Securities Purchase Agreements [Member] | 10% Unsecured Convertible Note [Member]                
Short-term Debt [Line Items]                
Convertible notes, interest rate   10.00%            
Accrued interest               11,753
Aggregate principal amount   $ 63,000            
Maturity date   Jul. 23, 2019            
Debt instrument, convertible, terms of conversion feature   <p style="margin: 0">The July Note may be converted into shares of the Company’s common stock at a conversion price of sixty-one (61%) percent of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date.</p>            
April Note [Member] | Securities Purchase Agreements [Member] | 10% Convertible Promissory Note [Member]                
Short-term Debt [Line Items]                
Amount received in consideration of sale of debt         $ 50,000     330,300
Convertible notes, interest rate         10.00%      
Accrued interest               $ 14,208
Amount of additional tranches received         $ 450,000      
Convertible promissory note principal amount         $ 500,000      
Conversion price         $ 0.01      
Percentage of trading price         50.00%      
Debt instrument, term         9 months      
Debt instrument, maturity date description         <p style="margin: 0">Investor extended the April Note for an additional (60) months from the effective date of each tranche.</p>      
Maturity date         Apr. 09, 2020      
Debt instrument, convertible, terms of conversion feature         Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective advance or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock.      
Percentage of beneficial ownership         4.99%      
Penalty amount         $ 1,500      
Issuance of common stock (in shares)               32,615,769
Convertible notes payable               $ 44,500
Aggregate fair value loss               234,834
January Note [Member] | Securities Purchase Agreements [Member] | 10% Convertible Promissory Note [Member]                
Short-term Debt [Line Items]                
Amount received in consideration of sale of debt       $ 10,000       500,000
Convertible notes, interest rate       10.00%        
Amount of additional tranches received       $ 490,000        
Convertible promissory note principal amount       $ 500,000        
Conversion price       $ 0.01        
Percentage of trading price       50.00%        
Debt instrument, term       12 months        
Debt instrument, maturity date description       <p style="margin: 0">Investor extended the January Note for an additional sixty (60) months from the effective date of each tranche.</p>        
Maturity date       Jan. 27, 2022        
Debt instrument, convertible, terms of conversion feature       Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock.        
Percentage of beneficial ownership       4.99%        
Penalty amount       $ 1,500        
February Note [Member] | Securities Purchase Agreements [Member] | 10% Convertible Promissory Note [Member]                
Short-term Debt [Line Items]                
Amount received in consideration of sale of debt     $ 60,000         500,000
Convertible notes, interest rate     10.00%          
Accrued interest               4,947
Amount of additional tranches received     $ 440,000          
Convertible promissory note principal amount     $ 500,000          
Conversion price     $ 0.01          
Percentage of trading price     50.00%          
Debt instrument, term     12 months          
Debt instrument, maturity date description     The February Note matures on February 3, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche.          
Maturity date     Feb. 03, 2018          
Debt instrument, convertible, terms of conversion feature     Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock.          
Percentage of beneficial ownership     4.99%          
Penalty amount     $ 1,500          
November Note [Member] | Securities Purchase Agreements [Member] | 10% Convertible Promissory Note [Member]                
Short-term Debt [Line Items]                
Amount received in consideration of sale of debt             $ 45,000 500,000
Convertible notes, interest rate             10.00%  
Accrued interest               38,366
Amount of additional tranches received             $ 455,000  
Convertible promissory note principal amount             $ 500,000  
Conversion price             $ 0.01  
Debt instrument, term             12 months  
Debt instrument, maturity date description             The November Note matures on November 9, 2018, with an automatic extension of sixty (60) months from the effective date of each tranche.  
Maturity date             Nov. 09, 2018  
Debt instrument, convertible, terms of conversion feature             Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock.  
Percentage of beneficial ownership             4.99%  
Penalty amount             $ 1,500  
June Note [Member] | Securities Purchase Agreements [Member] | 10% Convertible Promissory Note [Member]                
Short-term Debt [Line Items]                
Amount received in consideration of sale of debt               50,000
Convertible notes, interest rate           10.00%    
Accrued interest               $ 5,780
Amount of additional tranches received           $ 50,000    
Convertible promissory note principal amount           $ 500,000    
Conversion price           $ 0.01    
Percentage of trading price           50.00%    
Debt instrument, term           12 months    
Debt instrument, maturity date description           Note matures on June 27, 2019, with an automatic extension of sixty (60) months from the effective date of each tranche.    
Maturity date           Jun. 27, 2019    
Debt instrument, convertible, terms of conversion feature           Price equal to a variable conversion price of the lesser of $0.01 per share or fifty percent (50%) of the lowest trading price since the original effective date of each respective tranche or the lowest effective price per share granted to any person or entity after the effective date to acquire common stock.    
Percentage of beneficial ownership           4.99%    
Penalty amount           $ 1,500    
XML 37 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Liabilities (Details)
3 Months Ended
Sep. 30, 2018
Derivative [Line Items]  
Risk free interest rate, minimum 2.19%
Risk free interest rate, maximum 2.94%
Stock volatility factor, minimum 43.00%
Stock volatility factor, maximum 138.00%
Expected dividend yield 0.00%
Maximum [Member]  
Derivative [Line Items]  
Weighted average expected option life 5 years
Minimum [Member]  
Derivative [Line Items]  
Weighted average expected option life 1 year
XML 38 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Liabilities (Details Textual) - USD ($)
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Jun. 30, 2018
Fair value of the derivative liability $ 7,948,478   $ 10,857,698
Net gain on derivative liability 3,071,394 $ 51,772  
Loss on conversion of debt (234,834)  
Convertible notes [Member]      
Notes payables $ 162,174    
XML 39 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events (Details) - Subsequent Event [Member] - USD ($)
Oct. 12, 2018
Oct. 09, 2018
Oct. 03, 2018
Subsequent Events (Textual)      
Consideration received   $ 40,000 $ 53,000
Maturity date     Oct. 03, 2019
Unsecured convertible note, percentage   10.00% 10.00%
Aggregate principal amount   $ 500,000 $ 53,000
Unsecured convertible note, description   The June Note is convertible into shares of common stock of the Company at a price equal to a) $0.01 per share or fifty percent (50%) of the lowest trading prices per common stock since the original effective date. The October Note is convertible into shares of common stock of the Company at a price equal to sixty one percent (61%) per share of the lowest average two (2) trading prices per common stock during the fifteen (15) trading day prior to the conversion date.
Debt instrument, maturity date description <p style="margin: 0">The November Note for sixty (60) months from the effective date.</p>    
EXCEL 40 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 41 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 42 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 44 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 70 154 1 false 25 0 false 4 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://hypersolar.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Condensed Balance Sheets Sheet http://hypersolar.com/role/CondensedBalanceSheets Condensed Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Condensed Balance Sheets (Parenthetical) Sheet http://hypersolar.com/role/CondensedBalanceSheetsParenthetical Condensed Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Condensed Statements of Operations (Unaudited) Sheet http://hypersolar.com/role/CondensedStatementsOfOperationsUnaudited Condensed Statements of Operations (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Condensed Statement of Shareholders' Deficit (Unaudited) Sheet http://hypersolar.com/role/CondensedStatementsOfShareholdersDeficit Condensed Statement of Shareholders' Deficit (Unaudited) Statements 5 false false R6.htm 00000006 - Statement - Condensed Statements of Cash Flows (Unaudited) Sheet http://hypersolar.com/role/CondensedStatementsOfCashFlowsUnaudited Condensed Statements of Cash Flows (Unaudited) Statements 6 false false R7.htm 00000007 - Disclosure - Basis Presentation Sheet http://hypersolar.com/role/BasisPresentation Basis Presentation Notes 7 false false R8.htm 00000008 - Disclosure - Summary of Significant Accounting Policies Sheet http://hypersolar.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 8 false false R9.htm 00000009 - Disclosure - Capital Stock Sheet http://hypersolar.com/role/CapitalStock Capital Stock Notes 9 false false R10.htm 00000010 - Disclosure - Stock Options Sheet http://hypersolar.com/role/StockOptions Stock Options Notes 10 false false R11.htm 00000011 - Disclosure - Convertible Promissory Notes Notes http://hypersolar.com/role/Convertiblepromissorynotes Convertible Promissory Notes Notes 11 false false R12.htm 00000012 - Disclosure - Derivative Liabilities Sheet http://hypersolar.com/role/DerivativeLiabilities Derivative Liabilities Notes 12 false false R13.htm 00000013 - Disclosure - Subsequent Events Sheet http://hypersolar.com/role/Subsequentevents Subsequent Events Notes 13 false false R14.htm 00000014 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://hypersolar.com/role/SummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://hypersolar.com/role/SummaryOfSignificantAccountingPolicies 14 false false R15.htm 00000015 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://hypersolar.com/role/SummaryOfSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) Tables http://hypersolar.com/role/SummaryOfSignificantAccountingPolicies 15 false false R16.htm 00000016 - Disclosure - Stock Options (Tables) Sheet http://hypersolar.com/role/StockOptionsTables Stock Options (Tables) Tables http://hypersolar.com/role/StockOptions 16 false false R17.htm 00000017 - Disclosure - Convertible Promissory Notes (Tables) Notes http://hypersolar.com/role/ConvertiblePromissoryNotesTables Convertible Promissory Notes (Tables) Tables http://hypersolar.com/role/Convertiblepromissorynotes 17 false false R18.htm 00000018 - Disclosure - Derivative Liabilities (Tables) Sheet http://hypersolar.com/role/DerivativeLiabilitiesTables Derivative Liabilities (Tables) Tables http://hypersolar.com/role/DerivativeLiabilities 18 false false R19.htm 00000019 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://hypersolar.com/role/SummaryOfSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) Details http://hypersolar.com/role/SummaryOfSignificantAccountingPoliciesTables 19 false false R20.htm 00000020 - Disclosure - Summary of Significant Accounting Policies (Details 1) Sheet http://hypersolar.com/role/SummaryOfSignificantAccountingPoliciesDetails1 Summary of Significant Accounting Policies (Details 1) Details http://hypersolar.com/role/SummaryOfSignificantAccountingPoliciesTables 20 false false R21.htm 00000021 - Disclosure - Summary of Significant Accounting Policies (Details Textual) Sheet http://hypersolar.com/role/SummaryOfSignificantAccountingPoliciesDetailsTextual Summary of Significant Accounting Policies (Details Textual) Details http://hypersolar.com/role/SummaryOfSignificantAccountingPoliciesTables 21 false false R22.htm 00000022 - Disclosure - Capital Stock (Details) Sheet http://hypersolar.com/role/CapitalStockDetails Capital Stock (Details) Details http://hypersolar.com/role/CapitalStock 22 false false R23.htm 00000023 - Disclosure - Stock Options (Details) Sheet http://hypersolar.com/role/Stockoptionsdetails Stock Options (Details) Details http://hypersolar.com/role/StockOptionsTables 23 false false R24.htm 00000024 - Disclosure - Stock Options (Details Textual) Sheet http://hypersolar.com/role/StockOptionsDetailsTextual Stock Options (Details Textual) Details http://hypersolar.com/role/StockOptionsTables 24 false false R25.htm 00000025 - Disclosure - Convertible Promissory Notes (Details) Notes http://hypersolar.com/role/ConvertiblePromissoryNotesDetails Convertible Promissory Notes (Details) Details http://hypersolar.com/role/ConvertiblePromissoryNotesTables 25 false false R26.htm 00000026 - Disclosure - Convertible Promissory Notes (Details 1) Notes http://hypersolar.com/role/ConvertiblePromissoryNotesDetails1 Convertible Promissory Notes (Details 1) Details http://hypersolar.com/role/ConvertiblePromissoryNotesTables 26 false false R27.htm 00000027 - Disclosure - Convertible Promissory Notes (Details Textual) Notes http://hypersolar.com/role/ConvertiblePromissoryNotesDetailsTextual Convertible Promissory Notes (Details Textual) Details http://hypersolar.com/role/ConvertiblePromissoryNotesTables 27 false false R28.htm 00000028 - Disclosure - Derivative Liabilities (Details) Sheet http://hypersolar.com/role/DerivativeLiabilitiesDetails Derivative Liabilities (Details) Details http://hypersolar.com/role/DerivativeLiabilitiesTables 28 false false R29.htm 00000029 - Disclosure - Derivative Liabilities (Details Textual) Sheet http://hypersolar.com/role/DerivativeLiabilitiesDetailsTextual Derivative Liabilities (Details Textual) Details http://hypersolar.com/role/DerivativeLiabilitiesTables 29 false false R30.htm 00000030 - Disclosure - Subsequent Events (Details) Sheet http://hypersolar.com/role/SubsequentEventsDetails Subsequent Events (Details) Details http://hypersolar.com/role/Subsequentevents 30 false false All Reports Book All Reports hysr-20180930.xml hysr-20180930.xsd hysr-20180930_cal.xml hysr-20180930_def.xml hysr-20180930_lab.xml hysr-20180930_pre.xml http://fasb.org/us-gaap/2018-01-31 http://xbrl.sec.gov/dei/2018-01-31 http://fasb.org/srt/2018-01-31 true true ZIP 46 0001213900-18-014754-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-18-014754-xbrl.zip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�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