Intangible Assets

9 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

4. Intangible Assets

	Water Rights
Balance, June 30, 2021	$	1,643,160
Additions		2,172,750
Impairment loss		-
Balance, March 31, 2022	$	3,815,910

To date, the Company has purchased water rights in the City of Fernley, Nevada for $3,815,910. 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.