Intangible Assets

6 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

4. Intangible Assets

	Water Rights
Cost:
Balance, June 30, 2021		1,643,160
Additions		2,172,750
Impairment loss		-
Balance, December 31, 2021		3,815,910

During the six months ended December 31, 2021, the Company purchased 173.8 acres of water rights in the City of Fernley, Nevada for $2,172,750. The water rights will be used to ensure the Company’s lithium-ion battery recycling plant will have adequate water to operate at full capacity once construction is complete. The water rights are treated in accordance with ASC 350, Intangible Assets, and have an unlimited useful life given that there are no expiration dates on the water rights acquired by the Company.