Property and Equipment

9 Months Ended

Mar. 31, 2022

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				38,327		-		1,571,322			1,609,649
Construction in process		7,732,151		1,139,030		-		-			8,871,181
Impairment loss		-		-		-		(186,779	)		(186,779	)
Balance, March 31, 2022	$	7,732,151	$	1,276,823	$	61,916	$	6,725,164		$	15,796,054
Accumulated Depreciation:
Balance, June 30, 2021	$	-	$	4,356	$	13,422	$	-		$	17,778
Additions		-		27,808		9,010		-			36,818
Balance, March 31, 2022	$	-	$	32,164	$	22,432	$	-		$	54,596
Carrying Amounts:
Balance, June 30, 2021	$	-	$	95,110		48,494	$	5,340,621		$	5,484,225
Balance, March 31, 2022	$	7,732,151	$	1,244,659		39,484	$	6,725,164		$	15,741,458

The building and equipment expenditures are currently under construction and are not available for use.

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 nine months ended March 31, 2022.

AMERICAN BATTERY TECHNOLOGY COMPANY

Notes to the Condensed Consolidated Financial Statements

For the period ended March 31, 2022

(unaudited)