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Derivative Liabilities
3 Months Ended
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Liabilities

6. Derivative Liabilities

 

The Company records the fair value of the conversion option of convertible debentures in accordance with ASC 815, Derivatives and Hedging. The fair value of the derivatives was calculated using a multi-nominal lattice model. The fair value of the derivative liabilities is revalued on each balance sheet date with corresponding gains and losses recorded in the condensed consolidated statements of operations. For the three months ended September 30, 2021, the Company recorded a loss on the change in the fair value of derivative liability of $nil (2020 - $773,886).