XML 14 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net Loss $ (2,700,508) $ (3,168,582)
Adjustments to reconcile net loss to net cash used by operating activities:    
Income from discontinued operations 0 25,422
Depreciation and amortization 36,021 10,931
Debt discount amortization 377,426 12,500
Loss on issuance of convertible debt 1,165,877 0
Change in fair value of derivatives (967,422) 0
Common stock issued for services 250,219 0
Other stock-based compensation 964,911 0
Loss on asset acquisition – related party 0 2,704,865
Loss on asset impairment 10,750 (0)
Loss on disposition of assets and liabilities 22,800 365,019
Changes in operating assets and liabilities:    
Prepaids (5,130) 0
Other assets (5,913) 0
Accounts payable 11,218 35,400
Accrued interest 127,606 44,915
Operating cash flow from discontinued operations 0 35,827
Net cash (used) provided by operating activities (712,145) 66,297
Cash flows from investing activities:    
Purchase of property and equipment (75,612) (40,000)
Investing cash flow from discontinued operations 0 (70,117)
Net cash used in investing activities (75,612) (110,117)
Cash flows from financing activities:    
Advances from related party 27,088 54,833
Repayment of related party loans (62,516) 0
Proceeds from convertible debt 1,410,374 0
Repayment of convertible debt (365,000) 0
Proceeds from sale of common stock 36,005 0
Proceeds from the exercise of options 24,043 0
Financing cash flow from discontinued operations 0 2,664
Net cash provided by financing activities 1,069,994 57,497
Net change in cash 282,237 13,677
Cash, beginning of year 13,677 0
Cash, end of year 295,914 13,677
Supplemental disclosure of cash flow information:    
Cash paid for interest 22,746 0
Cash paid for taxes 0 0
Supplemental non-cash disclosure:    
Common stock issued for conversion of debt $ 340,691 $ 0