Property and Equipment

6 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

3. Property and Equipment

	Building		Equipment		Vehicles		Land			Total
Cost:
Balance, June 30, 2021		-		99,466		61,916		5,340,621			5,502,003
Additions		4,874,640		28,327		-		1,571,321			6,474,288
Impairment loss		-		-		-		(186,779	)		(186,779	)
Balance, December 31, 2021		4,874,640		127,793		61,916		6,725,163			11,789,512
Accumulated Depreciation
Balance, June 30, 2021		-		4,356		13,422		-			17,778
Additions		-		17,944		6,468		-			24,412
Balance, December 31, 2021		-		22,300		19,890		-			42,190
Carrying Amounts:
Balance, June 30, 2021		-		95,110		48,494		5,340,621			5,484,225
Balance, December 31, 2021		4,874,640		105,493		42,026		6,725,163			11,747,322

AMERICAN BATTERY TECHNOLOGY COMPANY

Notes to the Condensed Consolidated Financial Statements

For the period ended December 31, 2021

(unaudited)

The building is currently in construction and is not available for use. As of December 30, 2021, equipment deposits related to operations of the Company whereby the equipment is not yet complete nor placed in service in the amount of $1,134,377 (June 30, 2021 - $nil) is presented in “Prepaid expenses and deposits” on the consolidated balance sheets.

The Company has impaired the carrying value of land purchased February 2021 in Tonopah, NV. The Company adjusted the carrying value of the land to that of the closing price stated in the agreement ($85,000). The impairment is due to the change in value of the stock from the time the agreement was originally executed to the time the stock was transferred into the mutual escrow account. The execution of the contract in full, including title transfer, did not occur until September 2021. The Company has adjusted the carrying value of the land using the agreed-upon contract price of the parcel at inception of the contract. Loss on impairment of $186,779 is recognized in general and administrative expenses for the six months ended December 31, 2021.