XML 39 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Convertible Notes and Notes Payable - Convertible notes and notes payable related party (Details) - USD ($)
Jun. 30, 2020
Jun. 30, 2019
Notes Payable Related Party $ 4,484,000 $ 3,647,000
The Matthews Group    
Convertible Notes, Related Party [1] 1,560,000 1,453,000
Notes Payable Related Party [2] 2,630,000 1,915,000
Other    
Convertible Notes, Related Party [3] $ 294,000 $ 279,000
[1] (a) 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] (b) 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 8) dated September 30, 2015. At June 30, 2017, notes due to The Matthews Group totaled $805,195. During the year ended June 30, 2018, $599,312 of notes payable were issued, interest of $104,581 was added to principal, and an interest payment of $125,000 was made, leaving a balance owed of $1,384,088 at June 30, 2018. During the year ended June 30, 2019, $377,127 of notes payable were issued and interest of $153,403 was added to principal, leaving a balance owed of $1,914,618 at June 30, 2019.
[3] (c) 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.