WARRANTS

3 Months Ended

Sep. 30, 2022

Guarantees and Product Warranties [Abstract]

WARRANTS

NOTE 11 – WARRANTS

On September 23, 2022, the Company, closed a Securities Purchase Agreement (the “Purchase Agreement”) with Mast Hill Fund, L.P., a Delaware limited partnership (“Mast Hill”), dated as of September 19, 2022, pursuant to which the Company issued Mast Hill a convertible promissory note in the principal amount of $290,000 (the “Note”), a five-year warrant to purchase up to 100,000,000 shares of common stock at a price of $0.003 per share (the “First Warrant”) and a warrant to purchase up to 100,000,000 shares of common stock at a price of $0.003 per share (the “Second Warrant”), which warrants are only exercisable upon an “Event of Default” as defined in the Note.

Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $188,675, accounted for in additional paid in capital.

A summary of the status of the Company’s outstanding stock options and changes during the period is presented below:

Warrants	Warrants		Weighted Average Exercise Price		Aggregate Intrinsic Value
Warrants outstanding at June 30, 2021		—	$	—		—
Granted		1,950,000	$	0.44		—
Exercised		—	$	—		—
Expired		—	$	—		—
Warrants outstanding at June 30, 2022		1,950,000	$	0.44		—
Granted		200,000,000	$	0.003		—
Exercised			$	—		—
Expired			$	—		—
Warrants outstanding at September 30, 2022		201,950,000	$	0.007		—
Warrants exercisable at September 30, 2022		201,950,000	$	0.007	$	—

Range of Exercise Prices		Number Outstanding September 30, 2022		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price
	$0.003 - 0.44		201,950,000		4.97 years	$	0.007