XML 40 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Convertible Notes and Notes Payable - Convertible notes and notes payable related party (Details) - USD ($)
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2016
Notes Payable Related Party $ 2,994,599 $ 2,293,866  
The Matthews Group      
Convertible Notes, Related Party 1,344,782 [1] 1,236,943 [1] $ 669,648
Notes Payable Related Party 1,384,088 [2] 805,195 [2] 216,648
Other      
Convertible Notes, Related Party $ 265,729 [3] $ 251,728 [3] $ 237,725
[1] The notes are unsecured, convertible into common stock at $0.08 per share, bear interest at rates ranging from 8% to 10% per annum, and are due on demand.
[2] The notes are unsecured, accrue interest at 10% per annum, and are due on demand. The notes were issued relating to a management services agreement with The Matthews Group (see Note 9) dated September 30, 2015. During the year ended June 30, 2017, $538,820 of notes payable were issued and interest of $49,727 was added to principal leaving a balance owed of $805,195. During the year ended June 30, 2018, $599,312 of notes payable were issued, interest of $104,581was added to principal, and an interest payment of $125,000 was made, leaving a balance owed of $1,384,088 at June 30, 2018.
[3] The notes are due to a current and a former director, are unsecured, convertible into common stock at per share amounts ranging from $0.10 to $0.30, and bear interest at rates ranging from 8% to 10% per annum.