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DE 33-0662986 302 6 Butler Street Camberwell 3124 61-03 9882-0780 Non-accelerated Filer true false 2255 67007 4341 2015 6596 69022 2250 2067 21682 4255 5747 13101 98518 1002335 842156 892151 702231 624583 1557734 25072 54220 177009 33347 30639 55500 50993 418538 354109 3080674 3739943 3080674 3739943 1500005 1500005 0.01 0.01 0.01 0.01 500000 500000 500000 500000 500000 500000 5000 5000 0.01 0.01 5 5 1 1 1 1 0.001 0.001 1000000000 1000000000 14055393 14055393 258120 258120 14056 258 59 0 54074110 50913893 1085204 1267671 -58199466 -55781770 1 1 46477 46477 -3067573 -3641425 13101 98518 1553075 3281464 28112 32809 230956 179987 1812143 3494260 -1812143 -3494260 449457 1748381 1 946 57636 -8186 385293 49319 50607 67123 30497 -143808 -327219 -1381191 -2139362 -4875451 -113415 -134728 -2025947 -4740723 -391749 -2417696 -4740723 -0.80 -192.45 3032612 24634 -2417696 -4740723 -182467 200673 -182467 200673 -2600163 -4540050 500000 5000 1 968 1 45714289 -51041047 1066998 -46477 -4301236 804 1 424989 424990 247619 248 2124926 2125174 874924 874924 8729 8 113634 113642 375905 375905 300416 300416 984810 984810 200673 200673 -4740723 -4740723 500000 5000 1 258120 258 50913893 -55781770 1267671 -46477 -3641425 8786113 8787 1230288 1239075 -24427 -24 -19992 -20016 -11785 -11785 805646 806 124766 125572 29820 29 776015 776044 4199979 4200 -4200 391749 -391749 590504 590504 82872 82872 59 142 -182467 -182467 -2025947 -2025947 500000 5000 1 14055393 14056 59 54074110 -58199466 1085204 -46477 -3067573 -2025947 -4740723 125572 1098452 30497 -143808 1993 2473 136527 734130 -8186 385293 50607 67123 49319 82872 300416 16500 15000 -200410 -836724 2147 -3332 -83157 178311 -59737 3695 -3394 33134 35724 152861 -9740 80582 156417 -1145264 -1849589 325000 1465250 43000 450000 25010 776044 1058044 1890240 22468 23962 -64752 64613 67007 2394 2255 67007 13621 6110 590504 874924 1142205 1814336 375905 227000 48662 31801 391749 25000 <p id="xdx_800_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zycuyQ5Qj2bl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 1 – <span id="xdx_825_zzIYbH5HEuLc">NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84D_ecustom--NatureOfOperationsPolicyTextBlock_zUy1ZG0cJ07l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_864_zskNnen1aczd">Nature of Operations</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Propanc Biopharma, Inc. (the “Company,” “we,” “us” or “our”) was originally incorporated in Melbourne, Victoria Australia on October 15, 2007 as Propanc PTY LTD, and continues to be based in Camberwell, Victoria Australia. Since its inception, substantially all of the operations of the Company have been focused on the development of new cancer treatments targeting high-risk patients, particularly cancer survivors, who need a follow-up, non-toxic, long-term therapy designed to prevent the cancer from returning and spreading. The Company anticipates establishing global markets for its technologies. Our lead product candidate, which we refer to as PRP, is an enhanced pro-enzyme formulation designed to enhance the anti-cancer effects of multiple enzymes acting synergistically. It is currently in the preclinical phase of development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On <span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_dd_c20200701__20210630_zjsnh70umwD9" title="Entity incorporation, date of incorporation">November 23, 2010</span>, the Company was incorporated in the state of Delaware as Propanc Health Group Corporation. In January 2011, to reorganize the Company, we acquired all of the outstanding shares of Propanc PTY LTD on a one-for-one basis making it a wholly-owned subsidiary of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application to the European Medicines Agency as a small and medium-sized enterprise. As of June 30, 2021, there has been no activity within this entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective April 20, 2017, the Company changed its name to “Propanc Biopharma, Inc.” to better reflect the Company’s stage of operations and development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In July 2020, a world first patent was granted in Australia for the cancer treatment method patent family. Presently, there are 29 granted patents and 33 patents under examination in key global jurisdictions relating to the use of proenzymes against solid tumors, covering the lead product candidate PRP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company hopes to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer by filing additional patent applications as it advances its lead product candidate, PRP, through various stages of development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On November 17, 2020, the Company effected a <span id="xdx_90D_eus-gaap--StockholdersEquityReverseStockSplit_c20201116__20201117" title="Reverse stock">one-for-one thousand (1:1,000)</span> reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). Proportional adjustments for the Reverse Stock Split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the Reverse Stock Split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_zTfyfILZC5Xb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_860_z0xpPnCblBPa">Principles of Consolidation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The consolidated financial statements include the accounts of Propanc Biopharma, Inc., the parent entity, and its wholly-owned subsidiary, Propanc PTY LTD. All inter-company balances and transactions have been eliminated in consolidation. Propanc (UK) Limited was an inactive wholly-owned subsidiary through June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_845_eus-gaap--UseOfEstimates_zzwSrtiWrUj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_866_zCVztcFqdaWc">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements include the estimates of useful lives for depreciation, valuation of the operating lease liability and related right-of-use asset, valuation of derivatives, valuation of beneficial conversion features on convertible debt, allowance for uncollectable receivables, valuation of equity based instruments issued for other than cash, the valuation allowance on deferred tax assets and foreign currency translation due to certain average exchange rates applied in lieu of spot rates on transaction dates.</span></p> <p id="xdx_859_z8T8me2mUWNh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84C_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_z1sqztQEFLQg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86F_zJUFHRfwNmQ9">Foreign Currency Translation and Other Comprehensive Income (Loss)</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company’s wholly owned subsidiary’s functional currency is the Australian dollar (AUD). For financial reporting purposes, the Australian dollar has been translated into the Company’s reporting currency which is the United States dollar ($) and/or (USD). Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive income (loss) as a component of other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of Australian dollars to USD after the balance sheet date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Other Comprehensive Income (Loss) for all periods presented includes only foreign currency translation gains (losses).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. Effective fiscal year 2021, the parent company determined that these intercompany loans will not be repaid in the foreseeable future and thus, per ASC 830-20-35-3, gains and losses from measuring the intercompany balances are recorded within cumulative translation adjustment, a component of accumulated other comprehensive income (loss). Prior to July 1, 2020, the Company recorded the foreign currency transaction gains and losses from measuring the intercompany balances as a component of other income (expenses) titled foreign currency transaction gain (loss). For the year ended June 30, 2021 and 2020, the Company recognized an exchange gain (loss) of approximately $<span id="xdx_901_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_c20200701__20210630__us-gaap--DebtInstrumentAxis__custom--IntercompanyLoansMember_pp0p0">1,005,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and ($<span id="xdx_90C_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_pp0p0_c20190701__20200630__us-gaap--DebtInstrumentAxis__custom--IntercompanyLoansMember_z9cfuN0kVfSk">133,000</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">), on intercompany loans made by the parent to the subsidiary which have not been repaid as of June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_890_ecustom--ScheduleOfTranslationExchangeRatesTableTextBlock_zHWjPfYgXMZa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BF_zkh7nqNm3XF1" style="display: none">SCHEDULE OF TRANSLATION EXCHANGE RATES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Exchange rate on balance sheet dates</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD : AUD exchange rate</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98C_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20210630_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.7500</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200630_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.6891</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Average exchange rate for the period</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD : AUD exchange rate</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20210630__srt--RangeAxis__srt--WeightedAverageMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.7473</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200630__srt--RangeAxis__srt--WeightedAverageMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.6742</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A5_zF6IdfJw4yP2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_zTTKEp5aN2Mg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Change in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2021 and 2020 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BB_z1EztVraTjcc" style="display: none">SCHEDULE OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign<br/> Currency Items:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 82%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Beginning balance, June 30, 2019</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_982_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20190701__20200630_zhNUQVDiorwj" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Beginning balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,066,998</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign currency translation gain</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_983_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20190701__20200630_zybFsKiYr1bg" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Foreign currency translation gain"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">200,673</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Balance, June 30, 2020</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98A_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20200701__20210630_z7l1M52ClLwc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,267,671</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign currency translation gain</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20200701__20210630_zDEdRjzTaONi" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Foreign currency translation gain"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">182,467</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Ending balance, June 30, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_988_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_pp0p0_c20200701__20210630_zuP9suUjhKki" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,085,204</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A0_zHuOP9xbxVG" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84A_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zVxpyFcjsmfb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_869_zSpI6haJjHrj">Fair Value of Financial Instruments and Fair Value Measurements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company measures its financial assets and liabilities in accordance with US GAAP. For certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate fair value due to their short maturities. Amounts recorded for notes payable, net of discount, and loans payable also approximate fair value because current interest rates available for debt with similar terms and maturities are substantially the same.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company follows accounting guidance for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.2in; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.2in; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Level 2: Inputs, other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.2in; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Also see Note 12 - Derivative Financial Instruments and Fair Value Measurements.</span></p> <p id="xdx_856_zCAOGM8L5wW4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_849_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zbBtLCxM8FT2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86B_zOfKCWdOLVRd">Cash and Cash Equivalents</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Cash and cash equivalents include cash on hand and at banks, short-term deposits with an original maturity of three months or less with financial institutions, and bank overdrafts. Bank overdrafts, as applicable, are reflected as a current liability on the balance sheets. There were <span id="xdx_903_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20200630_zZ1eOJKYJYr7">no</span></span> <span style="font: 10pt Times New Roman, Times, Serif; color: Black">cash equivalents as of June 30, 2021 or June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84B_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zfg52EPJexy6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_862_zHWcQfXqSLH3">Property and Equipment</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Property and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are expensed as incurred; additions, renewals, and betterments are capitalized. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of property and equipment is provided using the declining balance method. The depreciable amount is the cost less its residual value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_892_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_z3AwX2Xd0mO4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The estimated useful lives are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BA_zTqP1ilC57ma" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 28%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Machinery and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 72%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">- <span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20200701__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zOXkToZUepQc" title="Property and equipment estimated useful lives">5</span> years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Furniture</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">- <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20200701__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zW81xzQcQdSg" title="Property and equipment estimated useful lives">7</span> years</span></td></tr> </table> <p id="xdx_8A6_zca7BRRp6xl5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_841_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zv8lJAmH5La9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_863_zdGUX8vUhRsb">Patents</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Patents are stated at cost and amortized on a straight-line basis over the estimated future periods if and once the patent has been granted by a regulatory agency. However, the Company will expense any patent costs as long as we are in the startup stage. Accordingly, as the Company’s products are not currently approved for market, all patent costs incurred from 2013 through June 30, 2021 were expensed immediately. This practice of expensing patent costs immediately ends when a product receives market authorization from a government regulatory agency.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_845_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zey8gFOmZPEd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86C_zgKIFAsI1sVj">Impairment of Long-Lived Assets</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In accordance with ASC 360-10, “Long-lived assets,” which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84B_eus-gaap--EmployeeStockOwnershipPlanESOPPolicy_zh3AyswVz5Te" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_860_zYj1IsvzQ9N5">Employee Benefit/Liability</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Liabilities arising in respect of wages and salaries, accumulated annual leave, accumulated long service leave and any other employee benefits expected to be settled within twelve months of the reporting date are measured based on the employee’s remuneration rates applicable at the reporting date. All other employee benefit liabilities are measured at the present value of the estimated future cash outflow to be made in respect of services provided by employees up to the reporting date. All employee liabilities are owed within the next twelve months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84B_ecustom--GoodsAndServiceTaxPolicyTextBlock_zXRt2fYMNCde" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_861_zXbULMoiEBt1">Australian Goods and Services Tax (“GST”)</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Revenues, expenses and balance sheet items are recognized net of the amount of GST, except payable and receivable balances which are shown inclusive of GST. The GST incurred is payable on revenues to, and recoverable on purchases from, the Australian Taxation Office.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Cash flows are presented in the statements of cash flow on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the Company was owed $<span id="xdx_908_eus-gaap--ValueAddedTaxReceivableCurrent_c20210630_pp0p0" title="Value added tax receivable">4,341</span> and $<span id="xdx_90B_eus-gaap--ValueAddedTaxReceivableCurrent_c20200630_pp0p0" title="Value added tax receivable">2,015</span>, respectively, from the Australian Taxation Office. These amounts were fully collected subsequent to the balance sheet reporting dates.</span></p> <p id="xdx_858_znfh9MJCo1af" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84C_eus-gaap--DerivativesReportingOfDerivativeActivity_zPkIWm6mIOdb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_866_z26UFsPBAyH9">Derivative Instruments</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">ASC Topic 815, <i>Derivatives and Hedging</i> (“ASC Topic 815”), establishes accounting and reporting standards for derivative instruments and for hedging activities by requiring that all derivatives be recognized in the balance sheet and measured at fair value. Gains or losses resulting from changes in the fair value of derivatives are recognized in earnings. On the date of conversion or payoff of debt, the Company records the fair value of the conversion shares, removes the fair value of the related derivative liability, removes any discounts and records a net gain or loss on debt extinguishment. On July 1, 2019 the Company adopted ASU 2017-11 under which down-round Features in Financial Instruments will no longer cause derivative treatment. The Company applies the modified prospective method of adoption. There were no cumulative effects on adoption.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84D_ecustom--ConvertibleNotesPolicyTextBlock_zxajUQ2alEZ1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86C_zoAjEhAqQMW4">Convertible Notes With Variable Conversion Options</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company has entered into convertible notes, some of which contain variable conversion options, whereby the outstanding principal and accrued interest may be converted, by the holder, into common shares at a fixed discount to the price of the common stock at or around the time of conversion. The Company treats these convertible notes as stock settled debt under ASC 480, “<i>Distinguishing Liabilities from Equity</i>” and measures the fair value of the notes at the time of issuance, which is the result of the share price discount at the time of conversion and records the put premium as interest expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_843_eus-gaap--IncomeTaxPolicyTextBlock_zN0Zlr1p7J9g" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86C_zPUZwyGp2WM5">Income Taxes</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company is governed by Australia and United States income tax laws, which are administered by the Australian Taxation Office and the United States Internal Revenue Service, respectively. The Company follows ASC 740 “<i>Accounting for Income Taxes</i>,” when accounting for income taxes, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company follows ASC 740, Sections 25 through 60, “<i>Accounting for Uncertainty in Income Taxes</i>.” These sections provide detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of ASC 740 and in subsequent periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84F_eus-gaap--ResearchAndDevelopmentExpensePolicy_zQCpNdwyFt72" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_861_zChCCKk1NlA1">Research and Development Costs and Tax Credits</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In accordance with ASC 730-10, <i>“Research and Development-Overall,”</i> research and development costs are expensed when incurred. Total research and development costs for the fiscal years ended June 30, 2021 and 2020 were $<span id="xdx_909_eus-gaap--ResearchAndDevelopmentExpense_c20200701__20210630_pp0p0" title="Research and development costs">230,956</span> and $<span id="xdx_90A_eus-gaap--ResearchAndDevelopmentExpense_pp0p0_c20190701__20200630_z8D3lSanDVD5" title="Research and development costs">179,987</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company may apply for research and development tax concessions with the Australian Taxation Office on an annual basis. Although the amount is possible to estimate at year end, the Australian Taxation Office may reject or materially alter the claim amount. Accordingly, the Company does not recognize the benefit of the claim amount until cash receipt since collectability is not certain until such time. The tax concession is a refundable credit. If the Company has net income, then the Company can receive the credit which reduces its income tax liability. If the Company has net losses, then the Company may still receive a cash payment for the credit, however, the Company’s net operating loss carryforwards are reduced by the gross equivalent loss that would produce the credit amount when the income tax rate is applied to that gross amount. The concession is recognized as tax benefit, in operations, upon receipt.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During each of the fiscal years ended June 30, 2021 and 2020, the Company applied for, and received from the Australian Taxation Office, a research and development tax credit in the amount of $<span id="xdx_905_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_c20200701__20210630_zk1027s4V9Fe" title="Tax credits">113,415 </span>and $<span id="xdx_901_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_c20190701__20200630_zG6ZTffrCXsj">134,728</span>, respectively, which is reflected as a tax benefit in the accompanying consolidated statements of operations and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_846_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zaUFPhFSnEja" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_861_zBj3dM4Ckci3">Stock Based Compensation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company records stock-based compensation in accordance with ASC 718, “<i>Stock Compensation</i>”. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the shorter of the service period or the vesting period. The Company values employee and non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company adopted ASU 2018-07 and accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 718 and recognizes the fair value of such awards over the service period. The Company used the modified prospective method of adoption. There was no cumulative effect of adoption on July 1, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84A_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zLQNRYxs3VV5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86E_zEV4U1sMubQc">Revenue Recognition</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company adopted and implemented on July 1, 2018, ASC 606 – Revenue from Contracts with Customers (“ASC 606”). ASC 606 did not have a material impact on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Upon implementation of ASC 606, the Company recognizes revenue in accordance with that core principle by applying the following steps:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 1: Identify the contract(s) with a customer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 2: Identify the performance obligations in the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 3: Determine the transaction price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 4: Allocate the transaction price to the performance obligations in the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Subject to these criteria, the Company intends to recognize revenue relating to royalties on product sales in the period in which the sale occurs and the royalty term has begun.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_846_eus-gaap--LegalCostsPolicyTextBlock_z7Q8kazLnfD2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86A_zAg6XnkCAfwa">Legal Expenses</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">All legal costs for litigation are charged to expense as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_848_eus-gaap--LesseeLeasesPolicyTextBlock_zdlobmuL7B78" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86D_zjYfYbFZC052">Leases</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, <i>Leases</i> (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018. The Company adopted this guidance effective July 1, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On July 1, 2019, the Company adopted ASU No. 2016-02, applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases and; (ii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assessed whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Operating lease ROU assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company use an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_844_eus-gaap--EarningsPerSharePolicyTextBlock_zz34xJHutc16" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_864_zK6mVblSbdGl">Basic and Diluted Net Loss Per Common Share</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. <span id="xdx_903_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20200701__20210630_zq4qmcOL3Smg" title="Debt conversion percentage, description">Each holder of the notes has agreed to a <span id="xdx_904_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_uPure_c20200701__20210630_zzJU4tiDdpIk" title="Debt conversion percentage">4.99</span>% beneficial ownership conversion limitation (subject to certain noteholders’ ability to increase such limitation to 9.99% upon 60 days’ notice to the Company)</span>, and each note may not be converted during the first six-month period from the date of issuance. Such securities are considered dilutive securities which were excluded from the computation since the effect is anti-dilutive.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zp7ZAEmlQrYd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_8B9_zWwXX59WoQ27" style="display: none">SCHEDULE OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Stock Options</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRF3jRJ6r1te" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zloQygdbzAlh" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">60</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Stock Warrants</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zNOzT456LxB6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">121,329</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zNtlaS94tWTe" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">151,171</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Unvested restricted stock</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zafhpGNhbIA6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_982_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zLMxtEOeqQAc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Convertible Debt</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_984_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zx6G7fcxhV22" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">12,416,972</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z4ty7l1bgPGc" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">439,113</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630_zS2qhAKAAjyf" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">12,538,419</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630_zsjYE0XRyHH4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">590,403</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A2_z3r805ucvGn" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84F_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zaCjb7rqrmle" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_864_zqGyiHQTKivb">Recent Accounting Pronouncements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. We have carefully considered the new pronouncements that alter previous generally accepted accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term with the exception of those disclosed below. The applicability of any standard is subject to the formal review of the Company’s financial management.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In August 2020, the FASB issued ASU 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40)”. This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock. As well as amend the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related EPS guidance. This standard is effective for us on July 1, 2022, including interim periods within those fiscal years. Adoption is either a modified retrospective method or a fully retrospective method of transition. The Company is currently assessing the impact the new guidance will have on our consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84D_ecustom--NatureOfOperationsPolicyTextBlock_zUy1ZG0cJ07l" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_864_zskNnen1aczd">Nature of Operations</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Propanc Biopharma, Inc. (the “Company,” “we,” “us” or “our”) was originally incorporated in Melbourne, Victoria Australia on October 15, 2007 as Propanc PTY LTD, and continues to be based in Camberwell, Victoria Australia. Since its inception, substantially all of the operations of the Company have been focused on the development of new cancer treatments targeting high-risk patients, particularly cancer survivors, who need a follow-up, non-toxic, long-term therapy designed to prevent the cancer from returning and spreading. The Company anticipates establishing global markets for its technologies. Our lead product candidate, which we refer to as PRP, is an enhanced pro-enzyme formulation designed to enhance the anti-cancer effects of multiple enzymes acting synergistically. It is currently in the preclinical phase of development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On <span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_dd_c20200701__20210630_zjsnh70umwD9" title="Entity incorporation, date of incorporation">November 23, 2010</span>, the Company was incorporated in the state of Delaware as Propanc Health Group Corporation. In January 2011, to reorganize the Company, we acquired all of the outstanding shares of Propanc PTY LTD on a one-for-one basis making it a wholly-owned subsidiary of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application to the European Medicines Agency as a small and medium-sized enterprise. As of June 30, 2021, there has been no activity within this entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective April 20, 2017, the Company changed its name to “Propanc Biopharma, Inc.” to better reflect the Company’s stage of operations and development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In July 2020, a world first patent was granted in Australia for the cancer treatment method patent family. Presently, there are 29 granted patents and 33 patents under examination in key global jurisdictions relating to the use of proenzymes against solid tumors, covering the lead product candidate PRP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company hopes to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer by filing additional patent applications as it advances its lead product candidate, PRP, through various stages of development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On November 17, 2020, the Company effected a <span id="xdx_90D_eus-gaap--StockholdersEquityReverseStockSplit_c20201116__20201117" title="Reverse stock">one-for-one thousand (1:1,000)</span> reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). Proportional adjustments for the Reverse Stock Split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the Reverse Stock Split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 2010-11-23 one-for-one thousand (1:1,000) <p id="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_zTfyfILZC5Xb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_860_z0xpPnCblBPa">Principles of Consolidation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The consolidated financial statements include the accounts of Propanc Biopharma, Inc., the parent entity, and its wholly-owned subsidiary, Propanc PTY LTD. All inter-company balances and transactions have been eliminated in consolidation. Propanc (UK) Limited was an inactive wholly-owned subsidiary through June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_845_eus-gaap--UseOfEstimates_zzwSrtiWrUj9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_866_zCVztcFqdaWc">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements include the estimates of useful lives for depreciation, valuation of the operating lease liability and related right-of-use asset, valuation of derivatives, valuation of beneficial conversion features on convertible debt, allowance for uncollectable receivables, valuation of equity based instruments issued for other than cash, the valuation allowance on deferred tax assets and foreign currency translation due to certain average exchange rates applied in lieu of spot rates on transaction dates.</span></p> <p id="xdx_84C_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_z1sqztQEFLQg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86F_zJUFHRfwNmQ9">Foreign Currency Translation and Other Comprehensive Income (Loss)</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company’s wholly owned subsidiary’s functional currency is the Australian dollar (AUD). For financial reporting purposes, the Australian dollar has been translated into the Company’s reporting currency which is the United States dollar ($) and/or (USD). Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive income (loss) as a component of other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of Australian dollars to USD after the balance sheet date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Other Comprehensive Income (Loss) for all periods presented includes only foreign currency translation gains (losses).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. Effective fiscal year 2021, the parent company determined that these intercompany loans will not be repaid in the foreseeable future and thus, per ASC 830-20-35-3, gains and losses from measuring the intercompany balances are recorded within cumulative translation adjustment, a component of accumulated other comprehensive income (loss). Prior to July 1, 2020, the Company recorded the foreign currency transaction gains and losses from measuring the intercompany balances as a component of other income (expenses) titled foreign currency transaction gain (loss). For the year ended June 30, 2021 and 2020, the Company recognized an exchange gain (loss) of approximately $<span id="xdx_901_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_c20200701__20210630__us-gaap--DebtInstrumentAxis__custom--IntercompanyLoansMember_pp0p0">1,005,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and ($<span id="xdx_90C_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_pp0p0_c20190701__20200630__us-gaap--DebtInstrumentAxis__custom--IntercompanyLoansMember_z9cfuN0kVfSk">133,000</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">), on intercompany loans made by the parent to the subsidiary which have not been repaid as of June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_890_ecustom--ScheduleOfTranslationExchangeRatesTableTextBlock_zHWjPfYgXMZa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BF_zkh7nqNm3XF1" style="display: none">SCHEDULE OF TRANSLATION EXCHANGE RATES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Exchange rate on balance sheet dates</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD : AUD exchange rate</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98C_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20210630_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.7500</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200630_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.6891</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Average exchange rate for the period</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD : AUD exchange rate</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20210630__srt--RangeAxis__srt--WeightedAverageMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.7473</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200630__srt--RangeAxis__srt--WeightedAverageMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.6742</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A5_zF6IdfJw4yP2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_89D_eus-gaap--ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_zTTKEp5aN2Mg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Change in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2021 and 2020 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BB_z1EztVraTjcc" style="display: none">SCHEDULE OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign<br/> Currency Items:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 82%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Beginning balance, June 30, 2019</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_982_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20190701__20200630_zhNUQVDiorwj" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Beginning balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,066,998</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign currency translation gain</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_983_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20190701__20200630_zybFsKiYr1bg" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Foreign currency translation gain"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">200,673</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Balance, June 30, 2020</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98A_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20200701__20210630_z7l1M52ClLwc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,267,671</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign currency translation gain</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20200701__20210630_zDEdRjzTaONi" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Foreign currency translation gain"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">182,467</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Ending balance, June 30, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_988_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_pp0p0_c20200701__20210630_zuP9suUjhKki" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,085,204</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A0_zHuOP9xbxVG" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 1005000 133000 <p id="xdx_890_ecustom--ScheduleOfTranslationExchangeRatesTableTextBlock_zHWjPfYgXMZa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BF_zkh7nqNm3XF1" style="display: none">SCHEDULE OF TRANSLATION EXCHANGE RATES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Exchange rate on balance sheet dates</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD : AUD exchange rate</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98C_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20210630_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.7500</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200630_pdd" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.6891</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Average exchange rate for the period</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD : AUD exchange rate</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20210630__srt--RangeAxis__srt--WeightedAverageMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.7473</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_c20200630__srt--RangeAxis__srt--WeightedAverageMember_pdd" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">0.6742</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 0.7500 0.6891 0.7473 0.6742 <p id="xdx_89D_eus-gaap--ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_zTTKEp5aN2Mg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Change in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2021 and 2020 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BB_z1EztVraTjcc" style="display: none">SCHEDULE OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign<br/> Currency Items:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 82%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Beginning balance, June 30, 2019</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_982_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20190701__20200630_zhNUQVDiorwj" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Beginning balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,066,998</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign currency translation gain</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_983_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20190701__20200630_zybFsKiYr1bg" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Foreign currency translation gain"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">200,673</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Balance, June 30, 2020</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98A_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20200701__20210630_z7l1M52ClLwc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Beginning balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,267,671</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign currency translation gain</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20200701__20210630_zDEdRjzTaONi" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Foreign currency translation gain"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">182,467</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Ending balance, June 30, 2021</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_988_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_pp0p0_c20200701__20210630_zuP9suUjhKki" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Ending balance"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,085,204</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 1066998 200673 1267671 182467 1085204 <p id="xdx_84A_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zVxpyFcjsmfb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_869_zSpI6haJjHrj">Fair Value of Financial Instruments and Fair Value Measurements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company measures its financial assets and liabilities in accordance with US GAAP. For certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate fair value due to their short maturities. Amounts recorded for notes payable, net of discount, and loans payable also approximate fair value because current interest rates available for debt with similar terms and maturities are substantially the same.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company follows accounting guidance for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.2in; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.2in; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Level 2: Inputs, other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.2in; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Also see Note 12 - Derivative Financial Instruments and Fair Value Measurements.</span></p> <p id="xdx_849_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zbBtLCxM8FT2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86B_zOfKCWdOLVRd">Cash and Cash Equivalents</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Cash and cash equivalents include cash on hand and at banks, short-term deposits with an original maturity of three months or less with financial institutions, and bank overdrafts. Bank overdrafts, as applicable, are reflected as a current liability on the balance sheets. There were <span id="xdx_903_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20200630_zZ1eOJKYJYr7">no</span></span> <span style="font: 10pt Times New Roman, Times, Serif; color: Black">cash equivalents as of June 30, 2021 or June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 0 <p id="xdx_84B_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zfg52EPJexy6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_862_zHWcQfXqSLH3">Property and Equipment</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Property and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are expensed as incurred; additions, renewals, and betterments are capitalized. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of property and equipment is provided using the declining balance method. The depreciable amount is the cost less its residual value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_892_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_z3AwX2Xd0mO4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The estimated useful lives are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BA_zTqP1ilC57ma" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 28%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Machinery and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 72%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">- <span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20200701__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zOXkToZUepQc" title="Property and equipment estimated useful lives">5</span> years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Furniture</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">- <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20200701__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zW81xzQcQdSg" title="Property and equipment estimated useful lives">7</span> years</span></td></tr> </table> <p id="xdx_8A6_zca7BRRp6xl5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_892_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_z3AwX2Xd0mO4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The estimated useful lives are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BA_zTqP1ilC57ma" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 28%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Machinery and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 72%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">- <span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20200701__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zOXkToZUepQc" title="Property and equipment estimated useful lives">5</span> years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Furniture</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">- <span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20200701__20210630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zW81xzQcQdSg" title="Property and equipment estimated useful lives">7</span> years</span></td></tr> </table> P5Y P7Y <p id="xdx_841_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zv8lJAmH5La9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_863_zdGUX8vUhRsb">Patents</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Patents are stated at cost and amortized on a straight-line basis over the estimated future periods if and once the patent has been granted by a regulatory agency. However, the Company will expense any patent costs as long as we are in the startup stage. Accordingly, as the Company’s products are not currently approved for market, all patent costs incurred from 2013 through June 30, 2021 were expensed immediately. This practice of expensing patent costs immediately ends when a product receives market authorization from a government regulatory agency.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_845_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zey8gFOmZPEd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86C_zgKIFAsI1sVj">Impairment of Long-Lived Assets</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In accordance with ASC 360-10, “Long-lived assets,” which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84B_eus-gaap--EmployeeStockOwnershipPlanESOPPolicy_zh3AyswVz5Te" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_860_zYj1IsvzQ9N5">Employee Benefit/Liability</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Liabilities arising in respect of wages and salaries, accumulated annual leave, accumulated long service leave and any other employee benefits expected to be settled within twelve months of the reporting date are measured based on the employee’s remuneration rates applicable at the reporting date. All other employee benefit liabilities are measured at the present value of the estimated future cash outflow to be made in respect of services provided by employees up to the reporting date. All employee liabilities are owed within the next twelve months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84B_ecustom--GoodsAndServiceTaxPolicyTextBlock_zXRt2fYMNCde" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_861_zXbULMoiEBt1">Australian Goods and Services Tax (“GST”)</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Revenues, expenses and balance sheet items are recognized net of the amount of GST, except payable and receivable balances which are shown inclusive of GST. The GST incurred is payable on revenues to, and recoverable on purchases from, the Australian Taxation Office.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Cash flows are presented in the statements of cash flow on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the Company was owed $<span id="xdx_908_eus-gaap--ValueAddedTaxReceivableCurrent_c20210630_pp0p0" title="Value added tax receivable">4,341</span> and $<span id="xdx_90B_eus-gaap--ValueAddedTaxReceivableCurrent_c20200630_pp0p0" title="Value added tax receivable">2,015</span>, respectively, from the Australian Taxation Office. These amounts were fully collected subsequent to the balance sheet reporting dates.</span></p> 4341 2015 <p id="xdx_84C_eus-gaap--DerivativesReportingOfDerivativeActivity_zPkIWm6mIOdb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_866_z26UFsPBAyH9">Derivative Instruments</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">ASC Topic 815, <i>Derivatives and Hedging</i> (“ASC Topic 815”), establishes accounting and reporting standards for derivative instruments and for hedging activities by requiring that all derivatives be recognized in the balance sheet and measured at fair value. Gains or losses resulting from changes in the fair value of derivatives are recognized in earnings. On the date of conversion or payoff of debt, the Company records the fair value of the conversion shares, removes the fair value of the related derivative liability, removes any discounts and records a net gain or loss on debt extinguishment. On July 1, 2019 the Company adopted ASU 2017-11 under which down-round Features in Financial Instruments will no longer cause derivative treatment. The Company applies the modified prospective method of adoption. There were no cumulative effects on adoption.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84D_ecustom--ConvertibleNotesPolicyTextBlock_zxajUQ2alEZ1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86C_zoAjEhAqQMW4">Convertible Notes With Variable Conversion Options</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company has entered into convertible notes, some of which contain variable conversion options, whereby the outstanding principal and accrued interest may be converted, by the holder, into common shares at a fixed discount to the price of the common stock at or around the time of conversion. The Company treats these convertible notes as stock settled debt under ASC 480, “<i>Distinguishing Liabilities from Equity</i>” and measures the fair value of the notes at the time of issuance, which is the result of the share price discount at the time of conversion and records the put premium as interest expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_843_eus-gaap--IncomeTaxPolicyTextBlock_zN0Zlr1p7J9g" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86C_zPUZwyGp2WM5">Income Taxes</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company is governed by Australia and United States income tax laws, which are administered by the Australian Taxation Office and the United States Internal Revenue Service, respectively. The Company follows ASC 740 “<i>Accounting for Income Taxes</i>,” when accounting for income taxes, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company follows ASC 740, Sections 25 through 60, “<i>Accounting for Uncertainty in Income Taxes</i>.” These sections provide detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of ASC 740 and in subsequent periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84F_eus-gaap--ResearchAndDevelopmentExpensePolicy_zQCpNdwyFt72" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_861_zChCCKk1NlA1">Research and Development Costs and Tax Credits</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In accordance with ASC 730-10, <i>“Research and Development-Overall,”</i> research and development costs are expensed when incurred. Total research and development costs for the fiscal years ended June 30, 2021 and 2020 were $<span id="xdx_909_eus-gaap--ResearchAndDevelopmentExpense_c20200701__20210630_pp0p0" title="Research and development costs">230,956</span> and $<span id="xdx_90A_eus-gaap--ResearchAndDevelopmentExpense_pp0p0_c20190701__20200630_z8D3lSanDVD5" title="Research and development costs">179,987</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company may apply for research and development tax concessions with the Australian Taxation Office on an annual basis. Although the amount is possible to estimate at year end, the Australian Taxation Office may reject or materially alter the claim amount. Accordingly, the Company does not recognize the benefit of the claim amount until cash receipt since collectability is not certain until such time. The tax concession is a refundable credit. If the Company has net income, then the Company can receive the credit which reduces its income tax liability. If the Company has net losses, then the Company may still receive a cash payment for the credit, however, the Company’s net operating loss carryforwards are reduced by the gross equivalent loss that would produce the credit amount when the income tax rate is applied to that gross amount. The concession is recognized as tax benefit, in operations, upon receipt.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During each of the fiscal years ended June 30, 2021 and 2020, the Company applied for, and received from the Australian Taxation Office, a research and development tax credit in the amount of $<span id="xdx_905_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_c20200701__20210630_zk1027s4V9Fe" title="Tax credits">113,415 </span>and $<span id="xdx_901_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_c20190701__20200630_zG6ZTffrCXsj">134,728</span>, respectively, which is reflected as a tax benefit in the accompanying consolidated statements of operations and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 230956 179987 -113415 -134728 <p id="xdx_846_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zaUFPhFSnEja" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_861_zBj3dM4Ckci3">Stock Based Compensation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company records stock-based compensation in accordance with ASC 718, “<i>Stock Compensation</i>”. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the shorter of the service period or the vesting period. The Company values employee and non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company adopted ASU 2018-07 and accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 718 and recognizes the fair value of such awards over the service period. The Company used the modified prospective method of adoption. There was no cumulative effect of adoption on July 1, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_84A_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zLQNRYxs3VV5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86E_zEV4U1sMubQc">Revenue Recognition</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company adopted and implemented on July 1, 2018, ASC 606 – Revenue from Contracts with Customers (“ASC 606”). ASC 606 did not have a material impact on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Upon implementation of ASC 606, the Company recognizes revenue in accordance with that core principle by applying the following steps:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 1: Identify the contract(s) with a customer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 2: Identify the performance obligations in the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 3: Determine the transaction price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 4: Allocate the transaction price to the performance obligations in the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Subject to these criteria, the Company intends to recognize revenue relating to royalties on product sales in the period in which the sale occurs and the royalty term has begun.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_846_eus-gaap--LegalCostsPolicyTextBlock_z7Q8kazLnfD2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86A_zAg6XnkCAfwa">Legal Expenses</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">All legal costs for litigation are charged to expense as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_848_eus-gaap--LesseeLeasesPolicyTextBlock_zdlobmuL7B78" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_86D_zjYfYbFZC052">Leases</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, <i>Leases</i> (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018. The Company adopted this guidance effective July 1, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On July 1, 2019, the Company adopted ASU No. 2016-02, applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases and; (ii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assessed whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Operating lease ROU assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company use an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included in general and administrative expenses in the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_844_eus-gaap--EarningsPerSharePolicyTextBlock_zz34xJHutc16" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_864_zK6mVblSbdGl">Basic and Diluted Net Loss Per Common Share</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. <span id="xdx_903_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20200701__20210630_zq4qmcOL3Smg" title="Debt conversion percentage, description">Each holder of the notes has agreed to a <span id="xdx_904_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_uPure_c20200701__20210630_zzJU4tiDdpIk" title="Debt conversion percentage">4.99</span>% beneficial ownership conversion limitation (subject to certain noteholders’ ability to increase such limitation to 9.99% upon 60 days’ notice to the Company)</span>, and each note may not be converted during the first six-month period from the date of issuance. Such securities are considered dilutive securities which were excluded from the computation since the effect is anti-dilutive.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zp7ZAEmlQrYd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_8B9_zWwXX59WoQ27" style="display: none">SCHEDULE OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Stock Options</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRF3jRJ6r1te" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zloQygdbzAlh" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">60</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Stock Warrants</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zNOzT456LxB6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">121,329</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zNtlaS94tWTe" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">151,171</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Unvested restricted stock</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zafhpGNhbIA6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_982_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zLMxtEOeqQAc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Convertible Debt</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_984_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zx6G7fcxhV22" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">12,416,972</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z4ty7l1bgPGc" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">439,113</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630_zS2qhAKAAjyf" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">12,538,419</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630_zsjYE0XRyHH4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">590,403</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A2_z3r805ucvGn" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> Each holder of the notes has agreed to a 4.99% beneficial ownership conversion limitation (subject to certain noteholders’ ability to increase such limitation to 9.99% upon 60 days’ notice to the Company) 0.0499 <p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zp7ZAEmlQrYd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_8B9_zWwXX59WoQ27" style="display: none">SCHEDULE OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Stock Options</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRF3jRJ6r1te" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zloQygdbzAlh" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">60</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Stock Warrants</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zNOzT456LxB6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">121,329</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zNtlaS94tWTe" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">151,171</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Unvested restricted stock</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zafhpGNhbIA6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_982_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zLMxtEOeqQAc" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">59</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Convertible Debt</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_984_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zx6G7fcxhV22" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">12,416,972</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_z4ty7l1bgPGc" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">439,113</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20210630_zS2qhAKAAjyf" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">12,538,419</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20190701__20200630_zsjYE0XRyHH4" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Antidilutive securities excluded from computation of earnings per share"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">590,403</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 59 60 121329 151171 59 59 12416972 439113 12538419 590403 <p id="xdx_84F_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zaCjb7rqrmle" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline"><span id="xdx_864_zqGyiHQTKivb">Recent Accounting Pronouncements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. We have carefully considered the new pronouncements that alter previous generally accepted accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term with the exception of those disclosed below. The applicability of any standard is subject to the formal review of the Company’s financial management.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In August 2020, the FASB issued ASU 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40)”. This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock. As well as amend the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related EPS guidance. This standard is effective for us on July 1, 2022, including interim periods within those fiscal years. Adoption is either a modified retrospective method or a fully retrospective method of transition. The Company is currently assessing the impact the new guidance will have on our consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_808_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zrfc5XGh9z22" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 2 – <span id="xdx_82D_zR4TUUmJtQxb">GOING CONCERN</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The accompanying consolidated financial statements have been prepared in conformity with US GAAP, which contemplate continuation of the Company as a going concern. For the fiscal year ended June 30, 2021, the Company had <span id="xdx_90E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_doxL_c20200701__20210630_zb0oM1K9Z757" title="::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0984">no </span></span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">revenues, had a net loss of $<span id="xdx_904_eus-gaap--ProfitLoss_iN_pp0p0_di_c20200701__20210630_zE5KyvuIa4Tc">2,025,947 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and had net cash used in operations of $<span id="xdx_90B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pp0p0_di_c20200701__20210630_zZZ2qqLukVg7">1,145,264</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">. Additionally, as of June 30, 2021, the Company had a working capital deficit, stockholders’ deficit and accumulated deficit of $<span id="xdx_90B_ecustom--WorkingCapitalDeficit_c20210630_pp0p0">3,074,078</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, $<span id="xdx_90F_eus-gaap--StockholdersEquity_iNI_pp0p0_di_c20210630_zy1eQU64tRIg">3,067,573</span></span><span style="font: 10pt Times New Roman, Times, Serif">, and $<span id="xdx_90B_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pp0p0_di_c20210630_z63t6FGbdE9k">58,199,466</span></span><span style="font: 10pt Times New Roman, Times, Serif">, </span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">respectively. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the date of this filing.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Successful completion of the Company’s development program and, ultimately, the attainment of profitable operations are dependent upon future events, including obtaining adequate financing to fulfill its development activities, acceptance of the Company’s patent applications, obtaining additional sources of suitable and adequate financing and ultimately achieving a level of sales adequate to support the Company’s cost structure and business plan. The Company’s ability to continue as a going concern is also dependent on its ability to further develop and execute on its business plan. However, there can be no assurances that any or all of these endeavors will be successful.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In March 2020, the outbreak of COVID-19 (coronavirus) caused by a novel strain of the coronavirus was recognized as a pandemic by the World Health Organization, and the outbreak has become increasingly widespread in the United States, Europe and Australia, including in each of the areas in which the Company operates. The COVID-19 (coronavirus) outbreak has had a notable impact on general economic conditions, including but not limited to the temporary closures of many businesses, “shelter in place” and other governmental regulations, reduced business and consumer spending due to both job losses, reduced investing activity and M&amp;A transactions, among many other effects attributable to the COVID-19 (coronavirus), and there continue to be many unknowns. While to date the Company has not been required to stop operating, management is evaluating its use of its office space, virtual meetings and the like. The Company continues to monitor the impact of the COVID-19 (coronavirus) outbreak closely. The extent to which the COVID-19 (coronavirus) outbreak will impact our operations, ability to obtain financing or future financial results is uncertain.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> -2025947 -1145264 3074078 -3067573 -58199466 <p id="xdx_803_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zHEs022u6Pnb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 3 – <span id="xdx_821_zas7Q1BDZ6t1">PROPERTY AND EQUIPMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_895_eus-gaap--PropertyPlantAndEquipmentTextBlock_zmgFlYHfXWwc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Property and equipment consist of the following as of June 30,</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BB_zh0whEB5uiQ7" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_490_20210630_zLQ8erGmgJRd" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_493_20200630_zCZkbynpGDZc" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_maPPAENzBVB_zZKQJHKCiSUf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Office equipment at cost</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">28,623</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">26,299</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_msPPAENzBVB_zh2Xl4FSeynh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Less: Accumulated depreciation</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(24,368</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(20,552</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_mtPPAENzBVB_zTBB9pS58rT2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total property, plant, and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">4,255</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">5,747</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Depreciation expense for the years ended June 30, 2021 and 2020 were $<span id="xdx_908_eus-gaap--Depreciation_c20200701__20210630_pp0p0" title="Depreciation expense">1,993</span> and $<span id="xdx_908_eus-gaap--Depreciation_pp0p0_c20190701__20200630_zlHMWyp9Oy4" title="Depreciation expense">2,473</span>, respectively</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_895_eus-gaap--PropertyPlantAndEquipmentTextBlock_zmgFlYHfXWwc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Property and equipment consist of the following as of June 30,</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> <span id="xdx_8BB_zh0whEB5uiQ7" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_490_20210630_zLQ8erGmgJRd" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_493_20200630_zCZkbynpGDZc" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_maPPAENzBVB_zZKQJHKCiSUf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Office equipment at cost</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">28,623</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">26,299</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_msPPAENzBVB_zh2Xl4FSeynh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Less: Accumulated depreciation</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(24,368</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(20,552</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_mtPPAENzBVB_zTBB9pS58rT2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total property, plant, and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">4,255</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">5,747</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Depreciation expense for the years ended June 30, 2021 and 2020 were $<span id="xdx_908_eus-gaap--Depreciation_c20200701__20210630_pp0p0" title="Depreciation expense">1,993</span> and $<span id="xdx_908_eus-gaap--Depreciation_pp0p0_c20190701__20200630_zlHMWyp9Oy4" title="Depreciation expense">2,473</span>, respectively</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 28623 26299 24368 20552 4255 5747 1993 2473 <p id="xdx_801_ecustom--DueToFormerDirectorRelatedPartyDisclosureTextBlock_zIiAd8JaTtW8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 4 – <span id="xdx_82A_z24o9PK9MNna">DUE TO FORMER DIRECTOR - RELATED PARTY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Due to former director - related party represents unsecured advances made primarily by a former director for operating expenses on behalf of the Company such as intellectual property and formation expenses. The expenses were paid for on behalf of the Company and are due upon demand. The Company is currently not being charged interest under these advances. The total amount owed the former director at June 30, 2021 and 2020 is <span id="xdx_904_eus-gaap--DueToRelatedPartiesCurrent_c20210630_pp0p0" title="Due to directors - related parties">$33,347</span> and <span id="xdx_907_eus-gaap--DueToRelatedPartiesCurrent_c20200630_pp0p0" title="Due to directors - related parties">$30,639</span>, respectively. The Company plans to repay the advances as its cash resources allow (see Note 10).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 33347 30639 <p id="xdx_80C_ecustom--LoansAndNotesPayableDisclosureTextBlock_zOI11SLk00V4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 5 – <span id="xdx_822_zYKwxJFs54dj">LOANS AND NOTES PAYABLE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline">Loan from Former Director - Related Party</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Loan from the Company’s former director at June 30, 2021 and 2020 were <span id="xdx_909_eus-gaap--LoansPayable_c20210630__srt--TitleOfIndividualAxis__custom--DirectorsAndOfficerMember_pp0p0" title="Loans payable">$55,500</span> and <span id="xdx_908_eus-gaap--LoansPayable_c20200630__srt--TitleOfIndividualAxis__custom--DirectorsAndOfficerMember_pp0p0" title="Loans payable">$50,993</span>, respectively. The loan bear no interest and is payable on demand. The Company did not repay any amount on this loan during the years ended June 30, 2021 and 2020, respectively, (see Note 10).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 55500 50993 <p id="xdx_802_eus-gaap--DebtDisclosureTextBlock_zeaWrDcF96f" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 6 – <span id="xdx_82C_zpU7oKjSzdRl">CONVERTIBLE NOTES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_89C_eus-gaap--ConvertibleDebtTableTextBlock_ziVRkGrZePIh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company’s convertible notes outstanding at June 30, 2021 and 2020 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; display: none; color: Black"> <span id="xdx_8BA_zvU50JaaWwyd">SCHEDULE OF CONVERTIBLE NOTES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_494_20210630_zsrmn1iivXZg" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_49B_20200630_zuQpL0kHaTa" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentCarryingAmount_iI_pp0p0_maLTDzcuB_zuxg3RTxe1Li" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Convertible notes and debenture</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">400,128</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,029,496</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pp0p0_di_msLTDzcuB_zuUODCdu4b44" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Unamortized discounts</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(6,139</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(126,667</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40C_eus-gaap--DepositLiabilitiesAccruedInterest_iI_pp0p0_maLTDzcuB_zPzWSAs6KWd3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Accrued interest</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">34,098</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">80,101</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_maLTDzcuB_zEJVrrhbTgpb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Premium, net</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">196,496</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">574,804</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_403_eus-gaap--LongTermDebt_iTI_pp0p0_mtLTDzcuB_z7Pcz6TEePia" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Convertible notes, net</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">624,583</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,557,734</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A9_z1kJBtc4kiUk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Eagle Equities Financing Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>December 29, 2017 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company entered into an executory contract on December 29, 2017, whereby the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “December 2017 Eagle Note”) from the Company in the aggregate principal amount of <span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_c20171229__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$532,435</span>, with principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities at any time. The December 2017 Eagle Note contained an original issue discount of <span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20171229__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_zwtn2dDM4hIj" title="Original issue discount">$25,354</span> such that the purchase price was <span id="xdx_902_eus-gaap--ProceedsFromConvertibleDebt_c20171227__20171229__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSixteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Proceeds from convertible debt">$507,081</span>. The maturity date of the December 2017 Eagle Note was <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20171227__20171229__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSixteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_z4DqQhh6ygF1" title="Debt maturity date">December 29, 2018</span>. The Company was in discussions with Eagle Equities to extend the maturity date. The December 2017 Eagle Note bore interest at a rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20171229__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_zrEXKmTQfmjl" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest were to be paid by the Company to Eagle Equities in shares of the Company’s common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time. The Company recorded <span id="xdx_904_eus-gaap--InterestPayableCurrentAndNoncurrent_c20190630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSixteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Accrued interest">$20,065</span> of accrued interest for the December 2017 Eagle Note and total principal outstanding as of June 30, 2019 under the December 2017 Eagle Note was <span id="xdx_902_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20180701__20190630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Debt conversion of converted amount">$171,965</span> following conversion of <span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_c20190630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSixteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$360,470</span> of principal and <span id="xdx_903_eus-gaap--InterestPayableCurrentAndNoncurrent_c20190630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Accrued interest">$43,535</span> of accrued interest during the fiscal year ended June 30, 2019. The Company recorded <span id="xdx_90A_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Accrued interest">$0</span> of accrued interest for the December 2017 Eagle Note and total principal outstanding as of June 30, 2020 under the December 2017 Eagle Note was <span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_c20200630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$0</span> following conversion of the remaining principal <span id="xdx_90A_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoThousandAndSeventeenEagleNoteMember_pp0p0" title="Debt conversion of converted amount">$171,965</span> and <span id="xdx_90E_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSeventeenSecuritiesPurchaseAgreementMember_pp0p0" title="Accrued interest">$24,751</span> of accrued interest during the fiscal year to June 30, 2020. Accordingly, there was <span id="xdx_909_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_do_c20200630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyNineTwoThousandAndSixteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember_zAjzDA5WXnq8" title="Convertible debt outstanding balance">no</span> outstanding balance as of June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>July 13, 2018 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective July 13, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “July 2018 Note”) from the Company in the aggregate principal amount of <span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_c20180713__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$75,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six month anniversary of the July 2018 Eagle Note. The transaction closed on July 16, 2018 and on July 19, 2018 the Company received proceeds of <span id="xdx_900_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20180718__20180719__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_zdWkynH66oRd" title="Proceeds from convertible debt">$71,250</span> as <span id="xdx_90B_eus-gaap--LegalFees_c20180718__20180719__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_pp0p0" title="Legal fees">$3,750</span> was paid directly to legal fees. The maturity date of the July 2018 Eagle Note was <span id="xdx_902_eus-gaap--DebtInstrumentMaturityDate_dd_c20180712__20180713__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_zpDA4GM2ucK3" title="Debt maturity date">July 13, 2019</span>. The July 2018 Eagle Note bears interest at a rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20180713__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_zAmwn9YIE4P4" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest shall be paid by the Company to Eagle Equities in shares of the Company’s common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the Note. The Company recorded <span id="xdx_90F_eus-gaap--InterestPayableCurrentAndNoncurrent_c20190630__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_pp0p0" title="Accrued interest">$5,786</span> of accrued interest and the total principal outstanding under the July 2018 Eagle Note was <span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_c20190630__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$75,000</span> as of June 30, 2019. The Company recorded <span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_c20200630__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$0</span> of accrued interest and the total principal outstanding under the July 2018 Eagle Note was <span id="xdx_90C_eus-gaap--InterestPayableCurrentAndNoncurrent_c20180713__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_pp0p0" title="Accrued interest">$0</span> as of June 30, 2020 following conversion of <span id="xdx_909_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_pp0p0" title="Debt conversion of converted amount">$75,000</span> of principal and <span id="xdx_904_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--JulyThirteenTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandEighteenEagleNoteMember_pp0p0" title="Accrued interest">$9,300</span> of accrued interest during the fiscal year ended June 30, 2020. Accordingly, there was <span id="xdx_901_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_do_c20200630__us-gaap--TypeOfArrangementAxis__custom--JuneTwentyNineTwoThousandEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember_zuibCjhHE8q6" title="Convertible debt outstanding balance">no</span> outstanding balance as of June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>August 29, 2018 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective August 29, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “August 2018 Eagle Note”) from the Company in the aggregate principal amount of <span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_c20180829__us-gaap--TypeOfArrangementAxis__custom--AugustTwentyNineTwoThousandandEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandEighteenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$105,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six-month anniversary of the August 2018 Eagle Note. The transactions contemplated by the agreement closed on August 30, 2018. The maturity date of the August 29, 2018 Eagle Note was <span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_dd_c20180826__20180829__us-gaap--TypeOfArrangementAxis__custom--AugustTwentyNineTwoThousandandEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandEighteenEagleNoteMember_zqr0uvzkUBgj">August 29, 2019</span>. The August 2018 Eagle Note bore interest at a rate of <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20180829__us-gaap--TypeOfArrangementAxis__custom--AugustTwentyNineTwoThousandandEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandEighteenEagleNoteMember_z8BLE0j8JLXf" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest was paid by the Company to Eagle Equities in shares of the Company’s common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the August 2018 Eagle Note. In April 2020, Eagle Equities agreed to waive the <span id="xdx_90E_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20200401__20200430__us-gaap--TypeOfArrangementAxis__custom--AugustTwentyNineTwoThousandandEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandEighteenEagleNoteMember_zgBWquuwOeDe" title="Debt instrument, default, interest rate">24%</span> default interest on this note. The note was fully converted to common stock in fiscal 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>October 2, 2018 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective October 2, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “October 2018 Eagle Note”) from the Company in the aggregate principal amount of <span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_c20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoTwoThousandAndEighteenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$210,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six-month anniversary of the October 2018 Eagle Note. The transactions contemplated by the purchase agreement closed on October 3, 2018. Pursuant to the terms of the purchase agreement, Eagle Equities deducted $<span id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_c20180929__20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoTwoThousandAndEighteenEagleNoteMember_pp0p0" title="Debt instrument principal payment">10,000</span> from the principal payment due under the October 2018 Eagle Note, at the time of closing, to be applied to its legal expenses. The maturity date of the October 2018 Eagle Note was <span id="xdx_902_eus-gaap--DebtInstrumentMaturityDate_dd_c20180929__20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoTwoThousandAndEighteenEagleNoteMember_zWGQR2JHUroc" title="Debt maturity date">October 2, 2019</span>. The October 2018 Eagle Note shall bore interest at a rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoTwoThousandAndEighteenEagleNoteMember_zlNz9m1P70B9" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest was paid by the Company to Eagle Equities in shares of common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the October 2018 Eagle Note. In April 2020, Eagle Equities agreed to waive the <span id="xdx_90D_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20200401__20200430__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember_zln5ji2gLDy6" title="Debt instrument, default, interest rate">24%</span> default interest on this note. The note was fully converted to common stock in fiscal 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>November 30, 2018 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective November 30, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “November 2018 Eagle Note”) from the Company in the aggregate principal amount of <span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_c20181130__us-gaap--TypeOfArrangementAxis__custom--NovembeThirtyTwoThousandAndEighteenMecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwoThousandAndEighteenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$105,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six-month anniversary of the November 2018 Eagle Note. The transactions contemplated by the purchase agreement closed on December 3, 2018. Pursuant to the terms of the purchase agreement, Eagle Equities deducted <span id="xdx_906_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_c20181126__20181130__us-gaap--TypeOfArrangementAxis__custom--NovembeThirtyTwoThousandAndEighteenMecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwoThousandAndEighteenEagleNoteMember_pp0p0" title="Debt instrument principal payment">$5,000</span> from the principal payment due under the November 2018 Eagle Note, at the time of closing, to be applied to its legal expenses. The maturity date of the November 2018 Eagle Note was <span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_dd_c20181126__20181130__us-gaap--TypeOfArrangementAxis__custom--NovembeThirtyTwoThousandAndEighteenMecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwoThousandAndEighteenEagleNoteMember_zChtBzkSwcs7" title="Debt maturity date">November 30, 2019</span>. The November 2018 Eagle Note bore interest at a rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20181130__us-gaap--TypeOfArrangementAxis__custom--NovembeThirtyTwoThousandAndEighteenMecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwoThousandAndEighteenEagleNoteMember_zM0a4tZzTtF6" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest shall be paid by the Company to Eagle Equities in shares of common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the November 2018 Eagle Note. In April 2020, Eagle Equities agreed to waive the <span id="xdx_90A_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20200401__20200430__us-gaap--TypeOfArrangementAxis__custom--NovembeThirtyTwoThousandAndEighteenMecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwoThousandAndEighteenEagleNoteMember_zfKSHWHrSd43" title="Debt instrument, default, interest rate">24%</span> default interest on this note. The note was fully converted to common stock in fiscal 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>December 24, 2018 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective December 24, 2018, the Company entered into a securities purchase agreement with Eagle Equities, pursuant to which Eagle Equities purchased a convertible promissory note (the “December 2018 Eagle Note”) from the Company in the aggregate principal amount of <span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_c20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_pp0p0" title="Convertible debt principal amount">$126,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Eagle Equities any time after the six-month anniversary of the December 2018 Eagle Note. The transactions contemplated by the purchase agreement closed on December 24, 2018. Pursuant to the terms of the purchase agreement, Eagle Equities deducted <span id="xdx_906_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_pp0p0" title="Debt instrument principal payment">$6,000</span> from the principal payment due under the December 2018 Eagle Note, at the time of closing, to be applied to its legal expenses. The Company used the net proceeds from the December 2018 Eagle Note to repay an outstanding convertible promissory note before such note became convertible. The maturity date of the December 2018 Eagle Note was <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_zIJtjKwc3F6e" title="Debt maturity date">December 24, 2019</span>. The December 2018 Eagle Note bore interest at a rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_zQz2eFDsZRe9" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest was paid by the Company to Eagle Equities in shares of common stock upon receipt of a notice of conversion by the Company from Eagle Equities at any time after the six-month anniversary of the December 2018 Eagle Note. Upon an event of default, principal and accrued interest would become immediately due and payable under the notes. Additionally, upon an event of default, both notes would accrue interest at a default interest rate of <span id="xdx_905_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_z6Ts1dycUWZg" title="Debt instrument, default, interest rate">24%</span> per annum or the highest rate of interest permitted by law. In April 2020, Eagle Equities agreed to waive the <span id="xdx_90E_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20200401__20200430__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_zlZWpPbTdlei" title="Debt instrument, default, interest rate">24%</span> default interest on this note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Eagle Equities had the option to convert all or any amount of the principal amount of the notes issued to Eagle Equities above, at any time, for shares of the Company’s common stock at a price ranging from <span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember__srt--RangeAxis__srt--MinimumMember_zfQi4u9wiHai" title="Common stock trading volume, percent">60%</span> to <span id="xdx_906_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember__srt--RangeAxis__srt--MaximumMember_zd2xti7wZbY8" title="Common stock trading volume, percent">61%</span> of the lowest closing bid price (the “Closing Bid Price”) of the Company’s common stock as reported on the OTC Markets Group, Inc. quotation system for the ten prior trading days, including the day upon which the Company receives a notice of conversion from Eagle Equities (the “Conversion Price”). However, in the event that the Company’s common stock was restricted by the Depository Trust Company for any reason, the Conversion Price was to be lowered to from <span id="xdx_903_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--DepositoryTrustCompanyMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember__srt--RangeAxis__srt--MinimumMember_zCDR7YJTeg13" title="Common stock trading volume, percent">50%</span> to <span id="xdx_904_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--DepositoryTrustCompanyMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember__srt--RangeAxis__srt--MaximumMember_zgAsy2tzpAqe" title="Common stock trading volume, percent">51%</span> of the lowest Closing Bid Price for the duration of such restriction. If the Company failed to maintain a reserve of shares of its common stock at least two and a half times the number of shares issuable upon conversion of all the Eagle Notes for at least 60 days after the issuance of the notes issued to Eagle Equities, the conversion discount was to be increased by <span id="xdx_90A_eus-gaap--DebtConversionOriginalDebtInterestRateOfDebt_dp_uPure_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_zOUdDl581VGk" title="Debt original issue discount, rate">10%</span>. Notwithstanding the foregoing, Eagle Equities was restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Eagle Equities and its affiliates, exceeds <span id="xdx_904_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20181223__20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_ze9mkRXdRss4" title="Percentage of outstanding shares of common stock">4.99%</span> of the outstanding shares of the Company’s common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The above notes issued to Eagle Equities were treated as stock settled debt under ASC 480 and accordingly, the Company recorded a total of <span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_c20181224__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_pp0p0" title="Debt premium amount">$357,688</span> put premium, of which <span id="xdx_904_eus-gaap--AdditionalPaidInCapital_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_zH3UbaDWPi5k" title="Additional paid in capital">$224,131</span> and <span id="xdx_907_eus-gaap--AdditionalPaidInCapital_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--DecemberTwentyFourTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember__us-gaap--DebtInstrumentAxis__custom--DecembeTwoThousandAndEighteenEagleNoteMember_zcmT5xSeF5Q4" title="Additional paid in capital">$133,557</span> were released to additional paid in capital following conversion of principal during the fiscal year to June 30, 2020 and 2021, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above Eagle Equities financing agreements, specifically the August 29, 2018 and the December 24, 2018 agreements was <span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementOneMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember_zpGdUj168qPf" title="Convertible debt principal amount">$205,500</span> as of June 30, 2020 and accrued interest totaled <span id="xdx_90F_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementOneMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember_pp0p0" title="Accrued interest">$26,990</span>. There were <span id="xdx_900_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementOneMember__dei--LegalEntityAxis__custom--EagleEquitiesLLCMember_zvGPnBXv9Zt" title="Convertible debt outstanding balance">$0</span> outstanding principal and accrued interest under the above Eagle Equities financing agreements as of June 30, 2021 as a result of the fiscal 2021 conversions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>GS Capital Financing Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>October 2, 2018 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective October 2, 2018, the Company entered into a securities purchase agreement with GS Capital, pursuant to which GS Capital purchased two <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoThousandEighteenGSNoteMember_zsBzu4vGlZFh" title="Debt instrument, interest rate, stated percentage">8%</span> unsecured convertible redeemable notes (the “October 2, 2018 GS Notes”) from the Company in the aggregate principal amount of <span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_c20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoThousandEighteenGSNoteMember_pp0p0" title="Convertible debt principal amount">$212,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock. The purchase price of <span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20181003__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoThousandEighteenGSNoteMember_zprsfKSUfdD5" title="Convertible debt principal amount">$106,000</span> of the first note (the “October 2018 GS Note”) was paid in cash by GS Capital on October 3, 2018. After payment of certain legal fees and expenses, net proceeds to the Company from the October 2018 GS Note totaled <span id="xdx_906_eus-gaap--ProceedsFromConvertibleDebt_c20180929__20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoThousandEighteenGSNoteMember_pp0p0" title="Proceeds from convertible debt">$100,700</span>. The purchase price of <span id="xdx_902_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20180929__20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoThousandEighteenGSNoteMember__us-gaap--ShortTermDebtTypeAxis__custom--FirstNoteMember_zG1H5PWnaa1" title="Proceeds from convertible debt">$106,000</span> of the second note (the “October 2, 2018 GS Back End Note”) was initially paid for by GS Capital issuing to the Company an offsetting <span id="xdx_908_eus-gaap--ProceedsFromConvertibleDebt_c20180929__20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoThousandEighteenGSNoteMember__us-gaap--ShortTermDebtTypeAxis__custom--SecondNoteMember_pp0p0" title="Proceeds from convertible debt">$106,000</span> collateralized secured note (the “October 2, 2018 GS Secured Note”). The terms of the October 2018 GS Back End Note require cash funding prior to any conversion thereunder, and such cash funding shall occur on or before June 2, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Both the October 2, 2018 GS Note and the October 2, 2018 GS Back End Note, which was funded on February 27, 2019, matured on October 2, 2019, upon which any outstanding principal and interest thereon is due and payable. The amounts cash funded plus accrued interest under both the October 2018 GS Note and the October 2018 GS Back End Note are convertibles into shares of the Company’s common stock, at any time after April 2, 2019, at a conversion price for each share of common stock equal to <span id="xdx_905_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20180929__20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoThousandEighteenGSNoteMember_zoEnJjhzaQ3i" title="Common stock trading volume, percent">61%</span> of the lowest closing bid price of the Company’s common stock for the ten prior trading days including the day upon which a notice of conversion is received by the Company from GS Capital, subject to adjustment in certain events. The maturity date of the <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20180929__20181002__us-gaap--TypeOfArrangementAxis__custom--OctoberTwoTwoThousandAndEighteenSecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberTwoThousandEighteenGSNoteMember_zREmxodNjZ6l" title="Debt maturity date">October 2, 2018</span> GS Back-Note was October 2019 and the notes were fully converted to common stock in fiscal 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>January 22, 2020 GS Capital Securities Purchase Agreements</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective January 22, 2020, the Company entered into a securities purchase agreement with GS Capital, pursuant to which GS Capital purchased a convertible promissory note (the “January 22, 2020 GS Note”) from the Company in the aggregate principal amount of <span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_c20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Convertible debt principal amount">$58,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of GS Capital any time after the six-month anniversary of the January 22, 2020 GS Capital Note. The January 22, 2020 GS Note contained an original discount of <span id="xdx_900_eus-gaap--DebtInstrumentUnamortizedDiscount_c20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Original issue discount">$3,500</span>. The transactions contemplated by the GS Capital Securities Purchase Agreement closed on January 22, 2020. Pursuant to the terms of the GS Capital Securities Purchase Agreement, GS Capital deducted <span id="xdx_901_eus-gaap--LegalFees_c20200121__20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Legal fees">$2,500</span> from the principal payment due under the January 22, 2020 GW Note, at the time of closing, to be applied to its legal expenses and received net cash proceeds of <span id="xdx_90D_eus-gaap--ProceedsFromConvertibleDebt_c20200121__20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember__srt--RangeAxis__srt--MinimumMember_pp0p0" title="Proceeds from convertible debt">$52,000</span> on January 28, 2020. The Company used the net proceeds from the January 22, 2020 GW Note for general working capital purposes. The maturity date of the January 22, 2020 GS Capital was <span id="xdx_90B_eus-gaap--DebtInstrumentMaturityDate_dd_c20200121__20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_ztHk6HM5YFai" title="Debt maturity date">January 22, 2021</span>. The January 22, 2020 GS Capital Note bore interest at a rate of 10% per annum, which interest may be paid by the Company to GS Capital in shares of the Company’s common stock; but was not payable until the January 22, 2020 GS Capital Note became payable, whether at the maturity date or upon acceleration or by prepayment. The conversion price for the January 22, 2020 GS Capital Note was equal to a <span id="xdx_903_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20200121__20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_zMLHV8tdxRD1" title="Common stock trading volume, percent">40%</span> discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Additionally, GS Capital had the option to convert all or any amount of the principal face amount of the January 22, 2020 GS Capital Note at any time from the date of issuance and ending on the later of the maturity date or the date the Default Amount was paid if an event of default occurs, which is an amount between <span id="xdx_909_ecustom--DebtDefaultAmountPercentage_dp_uPure_c20200121__20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember__srt--RangeAxis__srt--MinimumMember_zLhcyB9kReSh" title="Debt default amount percentage">112%</span> and <span id="xdx_90A_ecustom--DebtDefaultAmountPercentage_dp_uPure_c20200121__20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember__srt--RangeAxis__srt--MaximumMember_z9sSAd3r7dW1" title="Debt default amount percentage">130%</span> of an amount equal to the then outstanding principal amount of the January 22, 2020 GS Capital Note plus any interest accrued, for shares of the Company’s common stock at the then-applicable conversion price. The January 22, 2020 GS Note contained certain events of default, upon which principal and accrued interest would become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal would accrue at a default interest rate of <span id="xdx_906_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20200121__20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_zRSiBEyLkQB6" title="Debt instrument, default, interest rate">24%</span> per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The notes issued to GS capital above were treated as stock settled debt under ASC 480 and accordingly the Company recorded a total of <span id="xdx_90C_eus-gaap--DebtInstrumentUnamortizedPremium_c20200122__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Debt premium amount">$106,438</span> put premium which was expensed in fiscal 2020 of which <span id="xdx_90F_eus-gaap--AdditionalPaidInCapital_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Additional paid in capital">$22,901</span> and <span id="xdx_90C_eus-gaap--AdditionalPaidInCapital_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Additional paid in capital">$38,667</span> was released to additional paid in capital following conversion of principal during the year ended June 30, 2020 and 2021, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company recorded <span id="xdx_90B_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Accrued interest">$8,802</span> of accrued interest and the total principal outstanding under the above GS Capital financing agreements was <span id="xdx_901_eus-gaap--ConvertibleNotesPayable_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Convertible debt outstanding balance">$58,000</span> as of June 30, 2020 following the conversion of <span id="xdx_902_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Debt conversion of converted amount">$141,820</span> of principal and <span id="xdx_90E_ecustom--DebtConversionConvertedInterestPayable_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Debt conversion of accrued interest">$76,397</span> of accrued interest during the year ended June 30, 2020. The total remaining principal outstanding and accrued interest under the above GS Capital financing agreements was <span id="xdx_902_eus-gaap--ConvertibleNotesPayable_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Convertible debt outstanding balance">$0</span> as of June 30, 2021 following conversion of <span id="xdx_90B_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Debt conversion of converted amount">$58,000</span> of principal and <span id="xdx_900_ecustom--DebtConversionConvertedInterestPayable_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GSCapitalPartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--JanuaryTwentyTwoTwentyTwentyGSNoteMember_pp0p0" title="Debt conversion of accrued interest">$8,508</span> of accrued interest during the year ended June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Convertible Note Issued with Consulting Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>August 10, 2017 Consulting Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On August 10, 2017, the Company entered into a consulting agreement, retroactive to May 16, 2017, with a certain consultant, pursuant to which the consultant agreed to provide certain consulting and business advisory services in exchange for a <span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_c20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Convertible debt principal amount">$310,000</span> junior subordinated convertible note. The maturity date of the August 10, 2017 Convertible Note was August 2019 and is currently past due (see Note 8). The note accrues interest at a rate of <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zGtRbaHUHryg" title="Debt instrument, interest rate, stated percentage">10%</span> per annum and is convertible into common stock at the lesser of <span id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zRjQnG0vwOlg" title="Debt conversion of converted amount">$750</span> or <span id="xdx_906_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_za6nPWZA6QU1" title="Common stock trading volume, percent">65%</span> of the three lowest trades in the <span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleThresholdTradingDays_dxL_uInteger_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zDWKrjoAjRPh" title="::XDX::10"><span style="-sec-ix-hidden: xdx2ixbrl1215">ten</span></span> trading days prior to the conversion. The note was fully earned upon signing the agreement and matures on <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_dd_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zmjK4drtFdhi" title="Debt maturity date">August 10, 2019</span>. The Company accrued <span id="xdx_906_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_c20170630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Accrued expenses">$155,000</span> related to this expense at June 30, 2017 and recorded the remaining <span id="xdx_90A_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_c20180630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Accrued expenses">$155,000</span> related to this expense in fiscal year 2018. Upon an event of default, principal and accrued interest will become immediately due and payable under the note. Additionally, upon an event of default, at the election of the holder, the note would accrue interest at a default interest rate of <span id="xdx_90E_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_z0Krvi3m8oVc" title="Debt instrument, default, interest rate">18%</span> per annum or the highest rate of interest permitted by law. The consulting agreement had a three-month term and expired on August 16, 2017. An aggregate total of <span id="xdx_903_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Embedded derivative, fair value of embedded derivative liability">$578,212</span> of this note was bifurcated with the embedded conversion option recorded as a derivative liability at fair value. During the year ended June 30, 2018, the consultant converted <span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_c20180630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantMember_pp0p0" title="Convertible debt principal amount">$140,000</span> of principal and <span id="xdx_901_eus-gaap--InterestPayableCurrentAndNoncurrent_c20180630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantMember_pp0p0" title="Accrued interest">$10,764</span> of interest. During the year ended June 30, 2019, the consultant converted an additional <span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_c20190630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantMember_pp0p0" title="Convertible debt principal amount">$161,000</span> of principal and <span id="xdx_902_eus-gaap--InterestPayableCurrentAndNoncurrent_c20190630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantMember_pp0p0" title="Accrued interest">$19,418</span> of interest leaving a principal balance owed of <span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_c20190630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Convertible debt principal amount">$9,000</span> at June 30, 2019. During the year ended June 30, 2020, the consultant converted an additional <span id="xdx_903_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Debt conversion of converted amount">$500</span> of principal and <span id="xdx_900_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Accrued expenses">$5,248</span> of interest such that the remaining principal outstanding and accrued interest under this note as of June 30, 2020 was <span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_c20200630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Convertible debt principal amount">$8,500</span> and <span id="xdx_903_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_pp0p0" title="Accrued interest">$22,168</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On March 15, 2021, the Company entered into a Settlement and Mutual Release Agreement (the “Settlement Agreement”) with the consultant whereby both parties agreed to settle all claims and liabilities under the August 10, 2017 Convertible note for a total of <span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_pp0p0" title="Convertible debt principal amount">$100,000</span> in the form of a convertible note. All other terms of the August 10, 2017 Convertible Note shall remain in full force and effect. Both parties agree that all future penalties under this note are waived unless the Company fails to authorize to distribute the requested shares upon conversion. The Company has the right to pay off the balance of any remaining amounts dues under this note in cash at any time more than 60 days after March 15, 2021. Prior to the Settlement Agreement, the Company recorded total liabilities <span id="xdx_906_eus-gaap--Liabilities_iI_pp0p0_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zlShDC1Kn4a1" title="Liabilities">$56,762</span> consisting of remaining principal amount of <span id="xdx_90A_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zTBqWM6Glnla" title="Original issue discount">$8,500</span>, accrued interest of <span id="xdx_909_eus-gaap--InterestPayableCurrentAndNoncurrent_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_pp0p0" title="Accrued interest">$23,262</span> and accrued expenses of <span id="xdx_904_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_pp0p0" title="Accrued expenses">$25,000</span>. Accordingly, the Company recognized loss from settlement of debt of <span id="xdx_90D_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_pp0p0" title="Loss from settlement of debt">$43,238</span> during the year ended June 30, 2021 which is included in gain from settlement of debt, net in the accompanying consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal outstanding after adjustment due to the above-mentioned March 15, 2021 settlement agreement and accrued interest under the August 10, 2017 Convertible Note was <span id="xdx_90F_eus-gaap--ConvertibleNotesPayable_c20210630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_pp0p0">$80,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and <span id="xdx_909_eus-gaap--InterestPayableCurrentAndNoncurrent_c20210630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_pp0p0">$3,738</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, respectively, as of June 30, 2021 following conversion of <span id="xdx_902_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zliV7VyKLZJ8">$20,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">of principal during the year ended June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Power Up Lending Group Financing Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>November 26, 2019 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective November 26, 2019, the Company entered into a securities purchase agreement with Power Up Lending Group Ltd. (“Power Up”), pursuant to which Power Up purchased a convertible promissory note (the “November 26, 2019 Power Up Note”) from the Company in the aggregate principal amount of <span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_c20191126__us-gaap--TypeOfArrangementAxis__custom--NovemberTwentySixTwoThousandNineteenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwentySixTwoThousandNineteenPowerUpNoteMember_pp0p0" title="Convertible debt principal amount">$43,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Power Up. The transaction closed on November 22, 2019 and the Company received payment on December 3, 2019 in the amount of <span id="xdx_900_ecustom--PrepaymentPenalties_c20191121__20191122__us-gaap--TypeOfArrangementAxis__custom--NovemberTwentySixTwoThousandNineteenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwentySixTwoThousandNineteenPowerUpNoteMember_pp0p0" title="Prepayment penalty">$40,000</span>, net of <span id="xdx_90F_eus-gaap--LegalFees_c20191121__20191122__us-gaap--TypeOfArrangementAxis__custom--NovemberTwentySixTwoThousandNineteenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwentySixTwoThousandNineteenPowerUpNoteMember_pp0p0" title="Legal fees">$2,500</span> paid directly toward legal fees and <span id="xdx_909_ecustom--DiligenceFees_c20191121__20191122__us-gaap--TypeOfArrangementAxis__custom--NovemberTwentySixTwoThousandNineteenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwentySixTwoThousandNineteenPowerUpNoteMember_pp0p0" title="Diligence fees">$500</span> to Power Up for due diligence fees. The maturity date of the November 26, 2019 Power Up Note was <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_dd_c20191125__20191126__us-gaap--TypeOfArrangementAxis__custom--NovemberTwentySixTwoThousandNineteenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwentySixTwoThousandNineteenPowerUpNoteMember_zYNvcL22ca51" title="Debt maturity date">November 26, 2020</span>. The November 26, 2019, Power Up Note bore interest at a rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20191126__us-gaap--TypeOfArrangementAxis__custom--NovemberTwentySixTwoThousandNineteenSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--NovemberTwentySixTwoThousandNineteenPowerUpNoteMember_zdNdNDpgTz2" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest was paid by the Company to Power Up in shares of the Company’s common stock but was not payable until the November 26, 2019 Power Up Note became payable, whether at the maturity date or upon acceleration or by prepayment. The note was fully converted in fiscal 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>January 7, 2020 Power Up Lending Group Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective January 7, 2020, the Company entered into a securities purchase agreement with Power Up Lending Group Ltd. (“Power Up”), pursuant to which Power Up purchased a convertible promissory note (the “January 7, 2020 Power Up Note”) from the Company in the aggregate principal amount of <span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_c20200107__us-gaap--TypeOfArrangementAxis__custom--JanuarySevenTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuarySevenTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Convertible debt principal amount">$75,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Power Up. The transaction closed on January 7, 2020 and the Company received payment on January 13, 2020 in the amount of <span id="xdx_90E_ecustom--PrepaymentPenalties_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--JanuarySevenTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuarySevenTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Prepayment penalty">$72,000</span>, net of <span id="xdx_908_eus-gaap--LegalFees_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--JanuarySevenTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuarySevenTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Legal fees">$2,500</span> paid directly toward legal fees and <span id="xdx_903_ecustom--DiligenceFees_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--JanuarySevenTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuarySevenTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Diligence fees">$500</span> to Power Up for due diligence fees. The maturity date of the January 7, 2020 Power Up Note was <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20200106__20200107__us-gaap--TypeOfArrangementAxis__custom--JanuarySevenTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuarySevenTwoThousandTwentyPowerUpNoteMember_zjzmYAIZORch" title="Debt maturity date">January 7, 2021</span>. The January 7, 2020, Power Up Note bore interest at a rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20200107__us-gaap--TypeOfArrangementAxis__custom--JanuarySevenTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuarySevenTwoThousandTwentyPowerUpNoteMember_ziD8r4iS1J77" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest was paid by the Company to Power Up in shares of the Company’s common stock, but not payable until the January 7, 2020 Power Up Note became payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>March 12, 2020 Power Up Lending Group Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective March 12, 2020, the Company entered into a securities purchase agreement with Power Up Lending Group Ltd. (“Power Up”), pursuant to which Power Up purchased a convertible promissory note (the “March 12, 2020 Power Up Note”) from the Company in the aggregate principal amount of <span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_c20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Convertible debt principal amount">$43,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Power Up. The transaction closed on March 12, 2020 and the Company received payment on March 5, 2020 in the amount of <span id="xdx_90A_ecustom--PrepaymentPenalties_c20200304__20200305__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Prepayment penalty">$40,000</span>, net of <span id="xdx_906_eus-gaap--LegalFees_c20200304__20200305__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Legal fees">$2,500</span> paid directly toward legal fees and <span id="xdx_903_ecustom--DiligenceFees_c20200304__20200305__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Diligence fees">$500</span> to Power Up for due diligence fees. The maturity date of the March 12, 2020 Power Up Note was <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20200311__20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_zm4Ozo2Yvwag" title="Debt maturity date">March 12, 2021</span>. The March 12, 2020, Power Up Note bore interest at a rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_zSjxwDoJzOOc" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest may be paid by the Company to Power Up in shares of the Company’s common stock but was not payable until the March 12, 2020 Power Up Note became payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">All the notes issued above to Power Up contained certain events of default, upon which principal and accrued interest would become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal would accrue at a default interest rate of <span id="xdx_90F_ecustom--DebtDefaultAmountPercentage_dp_uPure_c20200311__20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_zCkbqUUFvoOa" title="Debt default amount percentage">22%</span> per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Additionally, Power Up had the option to convert all or any amount of the principal face amount of the notes issued to Power Up, starting on certain dates as defined in the note agreements and ending on the later of the maturity date or the date the Default Amount is paid if an event of default occurs, which was an amount equal to <span id="xdx_904_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20200311__20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_zy0zG934qIS8" title="Debt instrument, default, interest rate">150%</span> of an amount equal to the then outstanding principal amount of the notes plus any interest accrued, for shares of the Company’s common stock at the then-applicable conversion price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_902_eus-gaap--DebtConversionDescription_c20200311__20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember" title="Debt conversion, description">The conversion price for the above Power Up notes was $3,050, subject to certain Market Price (as defined below) adjustment. If the Market Price was greater than or equal to $5,000, the conversion price was to be the greater of <span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20200311__20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_zAlegf67tQq2" title="Common stock trading volume, percent">65%</span> of the Market Price (“Variable Conversion Price”) and $3,050. In the event Market Price was less than $5,000, the conversion price was to be the Variable Conversion Price. As defined in the note agreements, the “Market Price” was the average of the lowest three closing bid prices during the <span id="xdx_904_eus-gaap--DebtInstrumentConvertibleThresholdTradingDays_dc_uInteger_c20200311__20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_zmK9EcdpAoe2" title="Common stock trading days">ten</span> day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up was restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Power Up and its affiliates, exceeds <span id="xdx_90B_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20200311__20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_zMMUxQV5ZnF3" title="Percentage of outstanding shares of common stock">4.99%</span> of the outstanding shares of the Company’s common stock.</span> An aggregate initial total of <span id="xdx_90F_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200312__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Embedded derivative, fair value of embedded derivative liability">$422,557</span> of these notes were bifurcated with the embedded conversion option recorded as derivative liabilities at fair value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above Power Up financing agreements, specifically the January 7, 2020 and March 12, 2020 Power Up Notes, was <span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_c20200107__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Convertible debt principal amount"><span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_c20200630__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Convertible debt principal amount">$118,000</span></span> and accrued interest of <span id="xdx_90A_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200107__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Accrued interest"><span id="xdx_905_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Accrued interest">$3,903</span></span> as of June 30, 2020. The total principal amount outstanding under the above Power Up financing agreement, specifically the January 7, 2020 and March 12, 2020 Power Up Notes, was <span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_c20210630__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Convertible debt principal amount">$0</span> and accrued interest of <span id="xdx_904_eus-gaap--InterestPayableCurrentAndNoncurrent_c20210630__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Accrued interest">$0</span> as of June 30, 2021 following repayment in cash of <span id="xdx_905_eus-gaap--RepaymentsOfDebt_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Repayment in cash">$43,000</span> of the principal balance and <span id="xdx_904_eus-gaap--InterestPaid_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_pp0p0" title="Repayment of interest">$1,816</span> of accrued interest and conversions into common stock during the year ended June 30, 2021. Accordingly, there was <span id="xdx_90F_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_do_c20210630__us-gaap--TypeOfArrangementAxis__custom--MarchTwelveTwoThousandTwentyPowerUpLendingGroupSecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchTwelveTwoThousandTwentyPowerUpNoteMember_z2XBC9mbBouf" title="Convertible debt outstanding balance">no</span> outstanding principal balance as of June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Redstart Holdings Corp Financing Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>May 23, 2019 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective May 23, 2019, the Company issued a convertible promissory note (the “May 23 Redstart Holdings Note”) to Redstart Holdings Corp (“Redstart Holdings”) in the aggregate principal amount of <span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_c20190523__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_pp0p0" title="Convertible debt principal amount">$133,000</span>, with principal and the interest thereon convertible into shares of the Company’s common stock at the option of Redstart Holdings any time after 180 days of issuance. At the time of closing on May 31, 2019, Redstart Holdings deducted <span id="xdx_90D_eus-gaap--LegalFees_c20190522__20190523__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_pp0p0" title="Legal fees">$3,000</span> from the principal payment due under the May 2019 Redstart Holdings Note to be applied to its legal expenses, such that the Company received aggregate net proceeds of <span id="xdx_90F_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20190522__20190523__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_zsaJUYDGLanl" title="Proceeds from convertible debt">$130,000</span> at closing. The maturity date of the May 2019 Redstart Holdings Note was <span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_dd_c20190522__20190523__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_zBtTZ0apbbh1" title="Debt maturity date">May 23, 2020</span> and bore interest at a rate of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20190523__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_z8zNwVHOEIxb" title="Debt instrument, interest rate, stated percentage">8%</span> per annum. The total principal amount outstanding and accrued interest under the above Redstart Holdings financing agreement, specifically the May 23, 2019 agreement at June 30, 2019 was <span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_c20190630__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_pp0p0" title="Convertible debt principal amount">$133,000</span> and <span id="xdx_901_eus-gaap--InterestPayableCurrentAndNoncurrent_c20190630__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_pp0p0" title="Accrued interest">$1,137</span> respectively and as of June 30, 2020 total principal amount outstanding and accrued interest totaled <span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_c20200630__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_pp0p0" title="Convertible debt principal amount">$0</span> and <span id="xdx_909_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember__dei--LegalEntityAxis__custom--RedstartHoldingsCorpMember_pp0p0" title="Accrued interest">$0</span> respectively following conversion of <span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_c20200630__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember_pp0p0" title="Convertible debt principal amount">$133,000</span> of the principal balance and <span id="xdx_903_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--RedstartHoldingsCorpFinancingAgreementMember_pp0p0" title="Accrued interest">$5,320</span> of accrued interest during the year ended June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Odyssey Capital Financing Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>July 30, 2019 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective July 30, 2019, the Company entered into a securities purchase agreement with Odyssey Capital Funding LLC, (“Odyssey”), pursuant to which Odyssey purchased a convertible promissory note (the “July 30, 2019 Odyssey Note”) from the Company in the aggregate principal amount of <span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_c20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_pp0p0" title="Convertible debt principal amount">$320,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Odyssey. The July 30, 2019 Odyssey Note contains an original discount of <span id="xdx_90A_eus-gaap--DebtInstrumentUnamortizedDiscount_c20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_pp0p0" title="Original issue discount">$25,000</span>. The transaction closed on July 30, 2019 and the Company received payment on August 1, 2019 in the amount of <span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_c20190801__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_pp0p0" title="Convertible debt principal amount">$295,000</span>, of which <span id="xdx_90D_eus-gaap--LegalFees_c20190731__20190801__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_pp0p0" title="Legal fees">$10,000</span> was paid directly toward legal fees, resulting in net cash proceeds of <span id="xdx_90F_eus-gaap--ProceedsFromConvertibleDebt_c20190731__20190801__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_pp0p0" title="Proceeds from convertible debt">$285,000</span>. The maturity date of the July 30, 2019 Odyssey Note was <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_dd_c20190729__20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_zWK5JPNAl2Ve" title="Debt maturity date">July 30, 2020</span>. The July 2019 Odyssey Note bore interest at a rate of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_zqG7xTnQih53" title="Debt instrument, interest rate, stated percentage">10%</span> per annum, which interest may be paid by the Company to Odyssey in shares of the Company’s common stock but was not payable until the July 30, 2019 Odyssey Note became payable, whether at the maturity date or upon acceleration or by prepayment. The July 30, 2019 Odyssey Note contained certain events of default, upon which principal and accrued interest would become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal would accrue at a default interest rate of <span id="xdx_90C_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20190729__20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_z4GYRD1EAux2" title="Debt instrument, default, interest rate">24%</span> per annum. The note was treated as stock settled debt under ASC 480 and accordingly the Company recorded a <span id="xdx_90E_eus-gaap--DebtInstrumentUnamortizedPremium_c20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_pp0p0" title="Debt premium amount">$172,308</span> put premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Additionally, Odyssey had the option to convert all or any amount of the principal face amount of the July 30, 2019 Odyssey Note, starting on January 31, 2020 and ending on the later of the maturity date or the date the Default Amount was paid if an event of default occurred, which was an amount equal to <span id="xdx_905_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20190729__20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_z1rJRtZ91Hl7" title="Percentage of outstanding shares of common stock">120%</span> of an amount equal to the then outstanding principal amount of the July 30, 2019 Odyssey Note plus any interest accrued from July 30, 2019 at the default interest rate of <span id="xdx_90C_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20190729__20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_z6AHBubMbEZc" title="Debt instrument, default, interest rate">24%</span> per annum for shares of the Company’s common stock at the then-applicable conversion price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The conversion price for the July 30, 2019 Odyssey Note was equal to <span id="xdx_90D_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20190729__20190730__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_ztZQkrsuCRji" title="Common stock trading volume, percent">65%</span> of the lowest closing bid price of the Common Stock as reported on the OTC Markets on which the Company’s shares were then traded or any exchange upon which the Common Stock may be traded in the future, for the ten prior trading days including the day upon which a Notice of Conversion is received by the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above Odyssey financing agreement, specifically the July 30, 2019 Odyssey Note, was <span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember_zR13FwGy6Ia8" title="Convertible debt principal amount">$0</span> and accrued interest of <span id="xdx_90D_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember_zpqSURkjpol9" title="Accrued interest">$0</span> as of June 30, 2020 following conversion of <span id="xdx_903_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_pp0p0" title="Debt conversion of converted amount">$320,000</span> of the principal balance and <span id="xdx_907_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--OdysseyCapitalFundingLLCMember__us-gaap--DebtInstrumentAxis__custom--JulyTwoThousandNineteenOdysseyNoteMember_pp0p0" title="Accrued interest">$23,220</span> of accrued interest during the year ended June 30, 2020 resulting in full repayment of the note and a full reduction of the put premium. The note was fully converted in fiscal 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Auctus Fund Financing Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>August 30, 2019 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective August 30, 2019, the Company entered into a securities purchase agreement with Auctus Fund, LLC (“Auctus”), pursuant to which Auctus purchased a convertible promissory note (the “August 30, 2019 Auctus Note”) from the Company in the aggregate principal amount of <span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Convertible debt principal amount">$550,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Auctus. The transaction closed on August 30, 2019 and the Company received payment on September 4, 2019 in the amount of <span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zbGEPw4WPvlj" title="Convertible debt principal amount">$550,000</span>, of which <span id="xdx_901_eus-gaap--LegalFees_pp0p0_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zO4UPbfesMyh" title="Legal fees">$5,000</span> was paid directly toward legal fees and <span id="xdx_903_ecustom--DiligenceFees_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Diligence fees">$40,000</span> to Auctus for due diligence fees resulting in net cash proceeds of <span id="xdx_908_eus-gaap--ProceedsFromConvertibleDebt_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Proceeds from convertible debt">$505,000</span>. The maturity date of the August 30, 2019 Auctus Note was <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_dd_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zhfCVziB2L77" title="Debt maturity date">August 30, 2020</span> and is currently past due. The August 30, 2019 Auctus Note bears interest at a rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zMKgIwj5n8xf" title="Debt instrument, interest rate, stated percentage">10%</span> per annum, but not payable until the August 30, 2019 Auctus Note became payable, whether at the maturity date or upon acceleration or by prepayment. The note is treated as stock settled debt under ASC 480 and accordingly the Company recorded a <span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedPremium_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Debt premium amount">$366,667</span> put premium. The August 30, 2019 Auctus Note may not be prepaid without the written consent of Auctus. Any amount of principal or interest which is not paid when due shall bear interest at the rate of <span id="xdx_90E_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zaBaVI3NWg64" title="Debt instrument, default, interest rate">24%</span> per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Additionally, Auctus has the option to convert all or any amount of the principal face amount and accrued interest of the August 30, 2019 Auctus Note, at any time following the issue date and ending on the later of the maturity date or the date of payment of the Default Amount if an event of default occurs, which is an amount equal to <span id="xdx_90E_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_z60xIdLxExua" title="Percentage of outstanding shares of common stock">125%</span> of an amount equal to the then outstanding principal amount of the August 30, 2019 Auctus Note (but not less than $15,000) plus any interest accrued from August 30, 2019 at the default interest rate of <span id="xdx_90F_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zSwxjiCA1BAe" title="Debt instrument, default, interest rate">24%</span> per annum, for shares of the Company’s common stock at the then-applicable conversion price. <span id="xdx_900_eus-gaap--DebtInstrumentDescription_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember" title="Debt instrument, description">Upon the holder’s election to convert accrued interest, default interest or any penalty amounts as stipulated, the Company may elect to pay those amounts in cash. The note may also be prepaid by the Company at any time between the date of issuance and August 13, 2020 at 135% multiplied by the sum of (a) the then outstanding principal amount plus (b) accrued and unpaid interest plus (c) default interests</span>, if any.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The conversion price for the August 30, 2019 Auctus Note shall be the Variable Conversion Price, being <span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zWk8n9vZwnnc" title="Common stock trading volume, percent">60%</span> of the Market Price on the date of conversion. Notwithstanding the foregoing, Auctus shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Auctus and its affiliates, exceeds <span id="xdx_908_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zvyXzOqt6ctl" title="Percentage of outstanding shares of common stock">4.99%</span> of the outstanding shares of the Company’s common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In connection with the issuance of the August 2019 Auctus Note, the Company issued common stock purchase warrants to Auctus to purchase <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--FirstWarrantMember_pdd" title="Warrants to purchase of common stock, shares">450</span> shares of the Company’s common stock (the “First Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such First Warrant at an “Exercise Price” of <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--FirstWarrantMember_pdd" title="Warrants exercise price per share">$2,250</span>. In connection with the issuance of the Note, the Company shall issue a common stock purchase warrant to Buyer to purchase <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--SecondWarrantMember_pdd" title="Warrants to purchase of common stock, shares">300</span> shares of the Company’s common stock (the “Second Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such Second Warrant at an “Exercise Price” of <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--SecondWarrantMember_pdd" title="Warrants exercise price per share">$3,330</span>. In connection with the issuance of the Note, the Company shall issue a common stock purchase warrant to Buyer to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--ThirdWarrantMember_pdd" title="Warrants to purchase of common stock, shares">225</span> shares of the Company’s common stock (the “Third Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such Third Warrant at an “Exercise Price” of <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--ThirdWarrantMember_pdd" title="Warrants exercise price per share">$4,500</span>. The First Warrant, Second Warrant, and Third Warrant shall collectively be referred as the “Warrants”. The Warrants have an “Exercise Period” of five years from the date of issuance being August 30, 2019. Under the terms of the Purchase Agreement and the Warrants, the Selling Security Holder may not either convert the Notes nor exercise the Warrants to the extent (but only to the extent) that the Selling Security Holder or any of its affiliates would beneficially own a number of shares of our Common Stock which would exceed <span id="xdx_908_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zvnGDaFAX33d" title="Percentage of outstanding shares of common stock">4.99%</span> of our outstanding shares. The Company accounted for the warrants by using the relative fair value method and recorded debt discount from the relative fair value of the warrants of <span id="xdx_90C_eus-gaap--FairValueAdjustmentOfWarrants_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Fair value of warrants">$375,905</span> using a simple binomial lattice model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In connection with the Purchase Agreement, the Company and the Purchaser entered into a Registration Rights Agreement (the “Registration Rights Agreement”). Pursuant to the Registration Rights Agreement, the Company agreed to register the shares of Common Stock underlying the Securities in a Registration Statement with the SEC as well as the Commitment Shares (as defined herein). The Registration Rights Agreement contains customary representations, warranties, agreements and indemnification rights and obligations of the parties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Note is subject to customary default provisions and also includes a cross-default provision which provides that a breach or default by the Borrower of any covenant or other term or condition contained in any of the Other Agreements (as defined therein), after the passage of all applicable notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the Other Agreements. Upon occurrence of any such event, the Holder shall be entitled (but in no event required) to apply all rights and remedies of the Holder under the terms of this Note and the Other Agreements by reason of a default under said Other Agreements or the Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The August 30, 2019 Auctus Note contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal shall accrue at a default interest rate of 24% per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above Auctus financing agreement, specifically the August 30, 2019 Auctus Note, was $358,965 and accrued interest of <span id="xdx_90E_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Accrued interest">$486</span> as of June 30, 2020 following conversion of <span id="xdx_90C_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Debt conversion of converted amount">$191,035</span> of the principal balance and <span id="xdx_90D_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Accrued interest">$43,176</span> of accrued interest during the year ended June 30, 2020. Accordingly, <span id="xdx_90A_eus-gaap--DebtInstrumentUnamortizedPremium_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Debt premium amount">$127,356</span> of the put premium was released in respect of the August 30, 2019 Auctus Note during the year ended June 30, 2020 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above Auctus financing agreement, specifically the August 30, 2019 Auctus Note, was <span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_c20210630__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Convertible debt principal amount">$32,848</span> and accrued interest of <span id="xdx_90E_eus-gaap--InterestPayableCurrentAndNoncurrent_c20210630__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Accrued interest">$0</span> as of June 30, 2021 following conversion of <span id="xdx_90D_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20200701__20210630__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Debt conversion of converted amount">$326,117</span> of the principal balance and <span id="xdx_90F_ecustom--DebtConversionConvertedInterestPayable_c20200701__20210630__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_pp0p0" title="Debt conversion of accrued interest">$39,536</span> of accrued interest during the year ended June 30, 2021. Accordingly, <span id="xdx_905_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zMs1ppsCOrtb" title="Debt premium amount">$217,411</span> of the put premium was released in respect of the August 30, 2019 Auctus Note during the year ended June 30, 2021 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>GW Holdings Securities Purchase Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>October 1, 2019 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective October 1, 2019, the Company entered into a securities purchase agreement with GW Holdings, pursuant to which GW Holdings purchased a convertible promissory note (the “October 1, 2019 GW Note”) from the Company in the aggregate principal amount of <span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_c20191002__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_pp0p0" title="Convertible debt principal amount">$131,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of GW Holdings any time after the six-month anniversary of the October 1, 2019 GW Holdings Note. The transactions contemplated by the GW Holdings Securities Purchase Agreement closed on October 1, 2019. Pursuant to the terms of the GW Holdings Securities Purchase Agreement, the lender deducted <span id="xdx_909_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_c20190929__20191002__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_pp0p0" title="Debt instrument principal payment">$6,000</span> from the principal payment due under the October 1, 2019 GW Note, at the time of closing, to be applied to its legal expenses. The Company used the net proceeds of <span id="xdx_901_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20190929__20191002__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_zaEB4ud3eO85" title="Proceeds from convertible debt">$125,000</span> from the October 1, 2019 GW Note for general working capital purposes. The maturity date of the October 1, 2019 GW Holdings was <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20190929__20191002__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_zKrndB6pO7Ne" title="Debt maturity date">October 1, 2020</span> and is currently past due. The October 1, 2019 GW Holdings Note bore interest at a rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20191002__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_zPtct5WsmEEf" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest was paid by the Company to GW Holdings in shares of the Company’s common stock; but was not payable until the October 1, 2019 GW Holdings Note became payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>December 10, 2020 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective December 10, 2020, the Company entered into a securities purchase agreement with GW Holdings, pursuant to which GW Holdings purchased a convertible promissory note (the “December 10, 2020 GW Note”) from the Company in the aggregate principal amount of <span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_c20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_pp0p0" title="Convertible debt principal amount">$131,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of GW Holdings anytime from the issuance of the December 10, 2020 GW Holdings Note. The transactions contemplated by the GW Holdings Securities Purchase Agreement closed on December 10, 2020. Pursuant to the terms of the GW Holdings Securities Purchase Agreement, the lender deducted <span id="xdx_905_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_pp0p0" title="Debt instrument principal payment">$6,000</span> from the principal payment due under the December 10, 2020 GW Note, at the time of closing, to be applied to its legal expenses. The Company intends to use the net proceeds of <span id="xdx_90B_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zdGlPC9dx3fg" title="Proceeds from convertible debt">$125,000</span> from the December 10, 2020 GW Note for general working capital purposes. The maturity date of the December 10, 2020 GW Holdings is <span id="xdx_909_eus-gaap--DebtInstrumentMaturityDate_dd_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_z2vQ7zNJnIve" title="Debt maturity date">December 10, 2021</span>. The December 10, 2020 GW Holdings Note bears interest at a rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zaZ2WjOKzaab" title="Debt instrument, interest rate, stated percentage">8%</span> per annum, which interest may be paid by the Company to GW Holdings in shares of the Company’s common stock; but shall not be payable until the December 10, 2020 GW Holdings Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The above notes issued to GW Holdings contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal shall accrue at a default interest rate of <span id="xdx_907_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zArgRvWfEwje" title="Debt instrument, default, interest rate">24%</span> per annum, or if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Additionally, GW Holdings has the option to convert all or any amount of the principal face amount of the notes issued to GW Holdings at any time from the date of issuance and ending on the later of the maturity date or the date the Default Amount is paid if an event of default occurs, which is an amount between <span id="xdx_905_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember__srt--RangeAxis__srt--MinimumMember_zQUE8QLxpFka" title="Debt instrument, default, interest rate">110%</span> and <span id="xdx_905_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember__srt--RangeAxis__srt--MaximumMember_zjV9drC6Cubi" title="Debt instrument, default, interest rate">150%</span> of an amount equal to the then outstanding principal amount of such notes plus any interest accrued, for shares of the Company’s common stock at the then-applicable conversion price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The conversion price for the above GW Holdings notes shall be equal to a 40% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, GW Holdings shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by GW Holdings and its affiliates, exceeds <span id="xdx_900_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zMF2lpDXpXcl" title="Percentage of outstanding shares of common stock">4.99%</span> of the outstanding shares of the Company’s common stock which may be increased up to 9.99% upon 60 days prior written notice by the GW Holdings to the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">These notes are treated as stock settled debt under ASC 480 and accordingly the Company recorded a total of <span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedPremium_c20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_pp0p0" title="Debt premium amount">$174,666</span> put premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above October 1, 2019 GW Holdings financing agreement was <span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_pp0p0" title="Convertible debt principal amount">$30,000</span> and accrued interest of <span id="xdx_903_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_pp0p0" title="Accrued interest">$1,776</span> as of June 30, 2020 following conversion of <span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember_pp0p0" title="Convertible debt principal amount">$101,000</span> of the principal balance and <span id="xdx_90F_eus-gaap--InterestPayableCurrentAndNoncurrent_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember_pp0p0" title="Accrued interest">$5,082</span> of accrued interest during the year ended June 30, 2020. The total principal amount and accrued interest outstanding under the above October 1, 2019 GW Holdings financing agreement was <span id="xdx_907_eus-gaap--ConvertibleNotesPayable_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember_pp0p0" title="Convertible debt outstanding balance">$0</span> as of June 30, 2021 following conversion of <span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_zUKgNk0UCtJ5">$30,000</span> of the principal balance and <span id="xdx_90E_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_zr1B1KELZycj">$3,877</span> of accrued interest during the year ended June 30, 2021. Accordingly, <span id="xdx_902_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember_zQunD2Tm9VOd" title="Debt premium amount">$67,333</span> and <span id="xdx_90C_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember_zVc0tgVdJq9b">$20,000</span> of the put premium was reclassed to additional paid in capital during the year ended June 30, 2020 and 2021, respectively, following conversion of the principal balance. This note was fully converted into common stock in fiscal 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above December 10, 2020 GW Holdings financing agreement, was <span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_z4nIBYzF3wx8">$90,000</span> and accrued interest of <span id="xdx_905_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zHF7PjuQZyCh">$4,636</span> as of June 30, 2021 following conversion of <span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zxK0GcKj7mR8">$41,000</span> of the principal balance and <span id="xdx_900_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zAhI5EC0kXU">$1,084</span> of accrued interest during the year ended June 30, 2021. Accordingly, <span id="xdx_900_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberOneTwoThousandNineteenAuctusNoteMember_zFJPZpaH0zL4">$27,333</span> of the put premium was reclassed to additional paid in capital in respect of the October 1, 2019 GW Holdings Note during the year ended June 30, 2021 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Crown Bridge Securities Purchase Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective October 3, 2019, the Company entered into a securities purchase agreement with Crown Bridge Partners, pursuant to which Crown Bridge purchased a convertible promissory note (the “October 3, 2019 Crown Bridge Note”) from the Company in the aggregate principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zwpEHUsBwCU" title="Convertible debt principal amount">108,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Crown Bridge any time from the of issuance of the of the October 3, 2019 Crown Bridge Note. The transactions contemplated by the Crown Bridge Securities Purchase Agreement closed on October 3, 2019. Pursuant to the terms of the Crown Bridge Securities Purchase Agreement, Crown Bridge deducted $<span id="xdx_90F_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_pp0p0_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zeoD6H7WrKf9" title="Debt instrument principal payment">3,000</span> from the principal payment due under the October 3, 2019 Crown Bridge Note, at the time of closing, to be applied to its legal expenses, and there was a $<span id="xdx_903_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zomMnTd7UNx3" title="Original issue discount">5,000</span> original issuance discount resulting in $<span id="xdx_905_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zzct2UAOe8n4" title="Proceeds from convertible debt">100,000</span> net proceeds to the Company. The Company intends to use the net proceeds from the October 3, 2019 Crown Bridge Note for general working capital purposes. The maturity date of the October 3, 2019 Crown Bridge was October 3, 2020 and is currently past due. The <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zQwc7KFpP4L3" title="Debt maturity date">October 3, 2019</span> Crown Bridge Note bears interest at a rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_ztmWQuCkyNLh" title="Debt instrument, interest rate, stated percentage">10</span>% per annum, which interest may be paid by the Company to Crown Bridge in shares of the Company’s common stock; but shall not be payable until the October 2019 Crown Bridge Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Additionally, Crown Bridge has the option to convert all or any amount of the principal face amount of the October 3, 2019 Crown Bridge Note at any time from the date of issuance and ending on the later of the maturity date or the date the Default Amount is paid if an event of default occurs, which is an amount between <span id="xdx_90B_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember__srt--RangeAxis__srt--MinimumMember_zLvepTZqYK6h" title="Debt instrument, default, interest rate">110</span>% and <span id="xdx_900_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember__srt--RangeAxis__srt--MaximumMember_zEEjcVFQsHy" title="Debt instrument, default, interest rate">150</span>% of an amount equal to the then outstanding principal amount of the October 3, 2019 Crown Bridge Note plus any interest accrued, for shares of the Company’s common stock at the then-applicable conversion price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The conversion price for the October 3, 2019 Crown Bridge Note shall be equal to a 40% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, Crown Bridge shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Crown Bridge and its affiliates, exceeds <span id="xdx_90E_ecustom--PercentageOfOutstandingSharesOfCommonStock_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember__srt--RangeAxis__srt--MinimumMember_z7lVZvtrX5P5" title="Percentage of outstanding shares of common stock">4.99</span>% of the outstanding shares of the Company’s common stock which may be increased up to <span id="xdx_90B_ecustom--PercentageOfOutstandingSharesOfCommonStock_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember__srt--RangeAxis__srt--MaximumMember_zJktsYMDpp94" title="Percentage of outstanding shares of common stock">9.99</span>% upon 60 days prior written notice by the Crown Bridge to the Company. The note is treated as stock settled debt under ASC 480 and accordingly the Company recorded a $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zHoaM5QgRPfj" title="Debt premium amount">72,000</span> put premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The October 3, 2019 Crown Bridge Note contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal shall accrue at a default interest rate of <span id="xdx_90F_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zv0fjoBojGb7" title="Debt instrument, default, interest rate">15</span>% per annum, or if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above Crown Bridge financing agreement was $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zJbU4yvlAPti" title="Convertible debt principal amount">65,280</span> and accrued interest of $<span id="xdx_902_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_z2ksPZtm0jBj" title="Accrued interest">7,232</span> as of as of June 30, 2020 following conversion of $<span id="xdx_90D_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_ziklwtqcVEga" title="Debt conversion of converted amount">42,720</span> of the principal balance during the year ended June 30, 2020. Accordingly, $<span id="xdx_901_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zySXJNn6cCG1" title="Debt premium amount">28,480</span> of the put premium was released in respect of the October 3, 2019 Crown Bridge Note during the year ended June 30, 2020 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above Crown Bridge financing agreement was <span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zCCKsDjlOH51" title="Convertible debt principal amount">$65,280</span> and accrued interest of $<span id="xdx_90B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_z5eeEhZLWACg" title="Accrued interest">16,138</span> as of as of June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">There were <span id="xdx_900_ecustom--UnissuedSharesConversion_c20200915__20200916__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember_zCYs7H4vsJf1" title="Unissued shares conversion">15,000</span> unissued shares which were considered issuable for accounting purposes during the 1^st quarter of fiscal 2021 related to a conversion notice dated and received on September 16, 2020. In November 2020, the Company was notified by the note holder of the cancellation of this conversion notice as a result of the reverse stock split and as such the Company reversed the effects of this transaction thereby increasing the principal balance by $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember_zxMfShhyo5H5" title="Convertible debt principal amount">9,600</span> and put premium by $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember_z3d1u05jFZe8" title="Debt premium amount">6,400</span> and a corresponding decrease in equity of $<span id="xdx_902_ecustom--DueToEquityConversion_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember_zwvoGCxPpSu" title="Due to equity conversion">16,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Ader Alef Securities Purchase Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective January 13, 2020, the Company entered into a securities purchase agreement with Ader Alef, pursuant to which Ader Alef purchased a convertible promissory note (the “January 13, 2020 Ader Alef Note”) from the Company in the aggregate principal amount of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_c20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_pp0p0" title="Convertible debt principal amount">110,250</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Ader Alef any time after the six-month anniversary of the January 13, 2020 Ader Alef Note. The January 13, 2020 Ader Alef Note contained an original discount of $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedDiscount_c20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_pp0p0" title="Original issue discount">5,250</span>. The transactions contemplated by the Ader Alef Securities Purchase Agreement closed on January 13, 2020. Pursuant to the terms of the Ader Alef Securities Purchase Agreement, Ader Alef deducted $<span id="xdx_901_eus-gaap--LegalFees_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_pp0p0" title="Legal fees">5,000</span> from the principal payment due under the January 13, 2020 Ader Alef Note at the time of closing, to be applied to its legal expenses and the Company received net cash proceeds of $<span id="xdx_90F_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_pp0p0" title="Debt conversion of converted amount">100,000</span> on January 15, 2020. The Company used the net proceeds from the January 13, 2020 Ader Alef Note for general working capital purposes. The maturity date of the January 13, 2020 Ader Alef was January 13, 2021. The <span id="xdx_904_eus-gaap--DebtInstrumentMaturityDate_dd_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_zxQYm58fn5Qk" title="Debt maturity date">January 13, 2020</span> Ader Alef Note bore interest at a rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_zDP149gBzYbc" title="Debt instrument, interest rate, stated percentage">8</span>% per annum, which interest may be paid by the Company to Ader Alef in shares of the Company’s common stock; but was not payable until the January 13, 2020 Ader Alef Note became payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Additionally, Ader Alef had the option to convert all or any amount of the principal face amount of the January 13, 2020 Ader Alef Note at any time from the date of issuance and ending on the later of the maturity date or the date the Default Amount was paid if an event of default occurs, which was an amount between <span id="xdx_904_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember__srt--RangeAxis__srt--MinimumMember_zr58c3SrdfDc" title="Debt instrument, default, interest rate">120</span>% and <span id="xdx_900_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember__srt--RangeAxis__srt--MaximumMember_zxh5ayER2q3g" title="Debt instrument, default, interest rate">150</span>% of an amount equal to the then outstanding principal amount of the January 13, 2020 Ader Alef Note plus any interest accrued, for shares of the Company’s common stock at the then-applicable conversion price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_901_eus-gaap--DebtInstrumentDescription_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember__srt--RangeAxis__srt--MinimumMember_zbMX0id9jcs7" title="Debt instrument, description">The conversion price for the January 13, 2020 Ader Alef Note during the first 6 months the January 13, 2020 Ader Alef Note was fixed at $2.50 and thereafter would be equal to a <span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_uPure_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember__srt--RangeAxis__srt--MinimumMember_zT1L8epEdCN9" title="Common stock trading volume, percent">35</span>% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion was received. Notwithstanding the foregoing, Ader Alef was restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Ader Alef and its affiliates, exceeds <span id="xdx_907_ecustom--PercentageOfOutstandingSharesOfCommonStock_pid_dp_uPure_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember__srt--RangeAxis__srt--MinimumMember_zdUxPo074Xhg" title="Percentage of outstanding shares of common stock">4.99</span>% of the outstanding shares of the Company’s common stock which may be increased up to <span id="xdx_909_ecustom--PercentageOfOutstandingSharesOfCommonStock_pid_dp_uPure_c20200112__20200113__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember__srt--RangeAxis__srt--MaximumMember_zruzM0e34Bv" title="Percentage of outstanding shares of common stock">9.99</span>% upon 60 days prior written notice by the Ader Alef to the Company.</span> The note was treated as stock settled debt under ASC 480 and accordingly the Company recorded a $<span id="xdx_90E_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_znVW5pF8JMN9" title="Debt premium amount">59,365</span> put premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The January 13, 2020 Ader Alef Note contained certain events of default, upon which principal and accrued interest would become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal would accrue at a default interest rate of 24% per annum, or if such rate was usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above Ader Alef financing agreement was $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_zrTuhpcSaLr2" title="Convertible debt principal amount">110,250</span> and accrued interest of $<span id="xdx_909_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_zfnVOaOVSvug" title="Accrued interest">4,073</span> as of June 30, 2020. The total principal amount outstanding and accrued interest under the above Ader Alef financing agreement was $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_zewZ1Or5uQyj" title="Convertible debt principal amount"><span id="xdx_90E_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_zPRKYRsBcAB2" title="Accrued interest">0</span></span> as of as of June 30, 2021 following conversion of $<span id="xdx_909_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_zAsiPbM3m5Od" title="Debt conversion of converted amount">110,250</span> of the principal balance and $<span id="xdx_907_ecustom--DebtConversionConvertedInterestPayable_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_ztmxfAe7fDf2" title="Debt conversion of accrued interest">7,493</span> accrued interest during the year ended June 30, 2021. Accordingly, $<span id="xdx_903_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryThirteenTwentyTwentyAderAlefNoteMember_zf94QUj3cV4d" title="Debt premium amount">59,365</span> of the put premium was released in respect of the Ader Alef Note during the year ended June 30, 2021 following conversion of the principal balance. This note was fully converted into common stock in fiscal 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>LG Capital Securities Purchase Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective February 19, 2020, the Company entered into a securities purchase agreement with LG Capital Funding, LLC (“LG Capital”), pursuant to which LG Capital purchased a convertible promissory note (the “February 19, 2020 LG Capital Note”) from the Company in the aggregate principal amount of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zTYL65OQsz78" title="Convertible debt principal amount">75,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of LG Capital any time after the six month anniversary of the February 19, 2020 LG Capital Note. The February 19, 2020 LG Capital Note contained an original discount of $<span id="xdx_903_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zrW4XhulEQfh" title="Original issue discount">3,750</span>. The transactions contemplated by the LG Capital Securities Purchase Agreement closed on March 4, 2020. Pursuant to the terms of the LG Capital Securities Purchase Agreement, LG Capital deducted $<span id="xdx_907_eus-gaap--LegalFees_pp0p0_c20200218__20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zAqRY7bZN066" title="Legal fees">2,500</span> from the principal payment due under the February 19, 2020 LG Capital Note at the time of closing, to be applied to its legal expenses and the Company received net cash proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20200324__20200325__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zd2NOwfrQAFi" title="Proceeds from convertible debt">71,250</span> on March 25, 2020. The Company used the net proceeds from the February 19, 2020 LG Capital Note for general working capital purposes. The maturity date of the February 19, 2020 LG Capital Note was <span id="xdx_902_eus-gaap--DebtInstrumentMaturityDate_c20200218__20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember" title="Debt maturity date">February 19, 2021</span>. The February 19, 2020 LG Capital Note bore interest at a rate of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_z2nFpqSgZBM4" title="Debt instrument, interest rate, stated percentage">8</span>% per annum, which interest was paid by the Company to LG Capital in shares of the Company’s common stock; but was not payable until the February 19, 2020 LG Capital Note became payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During the first 60 to 180 days following the date of the note, the Company had the right to prepay the principal and accrued but unpaid interest due under the February 19, 2020 LG Capital Note, together with any other amounts that the Company may owe the holder under the terms of the note, at a premium ranging from <span id="xdx_900_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20200218__20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember__srt--RangeAxis__srt--MinimumMember_z4523Mnskh12" title="Debt instrument, default, interest rate">112</span>% to <span id="xdx_90B_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20200218__20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember__srt--RangeAxis__srt--MaximumMember_zHP4hB60Iv01" title="Debt instrument, default, interest rate">135</span>% as defined in the note agreement. After this initial 180-day period, the Company did not have a right to prepay the February 19, 2020 LG Capital Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_902_eus-gaap--DebtInstrumentDescription_c20200218__20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember__srt--RangeAxis__srt--MinimumMember_zscAo0RkfXK1" title="Debt instrument, description">The conversion price for the February 19, 2020 LG Capital Note during the first 6 months the February 19, 2020 LG Capital Note was fixed at $500 and thereafter was equal to a 35% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion was received. Notwithstanding the foregoing, LG Capital was restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by LG Capital and its affiliates, exceeds <span id="xdx_90E_ecustom--PercentageOfOutstandingSharesOfCommonStock_uPure_c20200218__20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember__srt--RangeAxis__srt--MinimumMember_z2n2nkkyJvxi" title="Percentage of outstanding shares of common stock">9.99</span>% of the outstanding shares of the Company’s common stock.</span> The note was treated as stock settled debt under ASC 480 and accordingly the Company recorded a $<span id="xdx_905_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_z0U3K57K64Sd" title="Original issue discount">40,385</span> put premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The February 19, 2020 LG Capital Note contained certain events of default, upon which principal and accrued interest would become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal would accrue at a default interest rate of <span id="xdx_904_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_uPure_c20200218__20200219__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zyn8IJpMpkAh" title="Common stock trading volume, percent">24</span>% per annum, or if such rate was usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amount outstanding under the above LG Capital financing agreement was $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zTL8mMujcRDg" title="Convertible debt principal amount">75,000</span> and accrued interest of $<span id="xdx_90B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zHd1HuK4IoK2" title="Accrued interest">2,164</span> as of June 30, 2020. The total principal amount outstanding and accrued interest under the above LG Capital financing agreement was $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_z8qewvbgEe86" title="Convertible debt principal amount"><span id="xdx_903_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_z7iiHXaE5ML9" title="Accrued interest">0</span></span> as of June 30 2021 following conversion of $<span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zQJcqjX5skTd" title="Debt conversion of converted amount">75,000</span> of the principal balance and $<span id="xdx_905_ecustom--DebtConversionConvertedInterestPayable_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_pp0p0" title="Debt conversion of accrued interest">5,421</span> accrued interest during the year ended June 30, 2021. Accordingly, $<span id="xdx_90D_eus-gaap--DebtInstrumentUnamortizedPremium_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--FebruaryNineteenTwoThousandTwentyLGCapitalNoteMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_pp0p0" title="Debt premium amount">40,385</span> of the put premium was released in respect of the February 19, 2020 LG Capital Note during the year ended June 30, 2021 following conversion of the principal balance. This note was fully converted into common stock in fiscal 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">There were <span id="xdx_900_ecustom--UnissuedSharesConversion_pid_c20200908__20200909__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zy8TQj7rLE1l" title="Unissued shares conversion">9,427</span> unissued shares which were considered issuable for accounting purposes during the first quarter of fiscal 2021 related to a conversion notice dated and received on September 9, 2020. In November 2020, the Company was notified by the note holder of the cancellation of this conversion notice as a result of the reverse stock split and as such the Company reversed the effects of this transaction thereby increasing the principal balance by $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_znSxfxtk5SJi" title="Convertible debt principal amount">10,000</span>, accrued interest of $<span id="xdx_90D_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20201129__20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_z106ivN8PpEh" title="Debt conversion of converted amount">416</span> and put premium by $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zOkDmGq34n2k" title="Debt premium amount">5,385</span> and a corresponding decrease in equity of $<span id="xdx_90F_ecustom--DueToEquityConversion_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--LGCapitalFundingLLCMember_zadObOn7mP04" title="Due to equity conversion">15,801</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Geneva Roth Remark Securities Purchase Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>December 2, 2020 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective December 2, 2020, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc.(“Geneva Roth”), pursuant to which Geneva Roth purchased a convertible promissory note (the “December 2, 2020 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zpLyb1jxhG41" title="Convertible debt principal amount">78,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six month anniversary of the December 2, 2020 Geneva Roth. The December 2, 2020 Geneva Roth contains an original discount of $<span id="xdx_90F_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zZB2kgSgjnW1" title="Original issue discount">3,000</span>. The Company intends to use the net proceeds from the December 2, 2020 Geneva Roth for general working capital purposes. The maturity date of the December 2, 2020 Geneva Roth Note is December 2, 2021. The December 2, 2020 Geneva Roth Note bears interest at a rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zxHGRXmSF1E8" title="Debt instrument, interest rate, stated percentage">8</span>% per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the December 2, 2020 Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>January 5, 2021 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective January 5, 2021, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc., pursuant to which Geneva Roth purchased a convertible promissory note (the “January 5, 2021 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210105__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryFiveTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zCMSE7NuV6F1" title="Convertible debt principal amount">68,500</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six-month anniversary of the January 5, 2021 Geneva Roth. The January 5, 2021 Geneva Roth contains an original issue discount of $<span id="xdx_90E_eus-gaap--DebtConversionOriginalDebtAmount1_pp0p0_c20210104__20210105__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryFiveTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zNzbQ8jepSsb" title="Debt conversion, original debt amount">3,500</span>. The Company intends to use the net proceeds from the January 5, 2021 Geneva Roth for general working capital purposes. The maturity date of the January 5, 2021 Geneva Roth Note is January 5, 2022. The January 5, 2021 Geneva Roth Note bears interest at a rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210105__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryFiveTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zmSE9o74DhGb" title="Debt instrument, interest rate, stated percentage">8</span>% per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the <span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_dd_c20210104__20210105__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryFiveTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_z9W72G1n1xIh" title="Debt maturity date">January 5, 2021</span> Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>March 16, 2021 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective March 16, 2021, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc., pursuant to which Geneva Roth purchased a convertible promissory note (the “March 16, 2021 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210316__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchSixteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zrB2otRYaZxa" title="Convertible debt principal amount">63,500</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six-month anniversary of the March 16, 2021 Geneva Roth. The March 16, 2021 Geneva Roth contains an original discount of $<span id="xdx_904_eus-gaap--DebtConversionOriginalDebtAmount1_pp0p0_c20210313__20210316__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchSixteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_ziPdTQoddlOk" title="Debt conversion, original debt amount">3,500</span>. The Company intends to use the net proceeds from the March 16, 2021 Geneva Roth for general working capital purposes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The maturity date of the March 16, 2021 Geneva Roth Note is March 16, 2022. The March 16, 2021 Geneva Roth Note bears interest at a rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210105__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchSixteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zhZipEt2Pqi3" title="Debt instrument, interest rate, stated percentage">8</span>% per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20210103__20210105__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchSixteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zYkAPffCzota" title="Debt maturity date">March 16, 2021</span> Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During the first 60 to 180 days following the date of these notes, the Company has the right to prepay the principal and accrued but unpaid interest due under the above notes issued to Geneva Roth, together with any other amounts that the Company may owe the holder under the terms of the note, at a premium ranging from <span id="xdx_90F_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20201201__20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember__srt--RangeAxis__srt--MinimumMember_zX5toUXgs6od" title="Debt instrument, default, interest rate">110</span>% to <span id="xdx_905_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20201201__20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember__srt--RangeAxis__srt--MaximumMember_z5koNVLRd1s9" title="Debt instrument, default, interest rate">129</span>% as defined in the note agreement. After this initial 180-day period, the Company does not have a right to prepay such notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_905_eus-gaap--DebtInstrumentDescription_c20201201__20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember__srt--RangeAxis__srt--MinimumMember" style="font: 10pt Times New Roman, Times, Serif; color: Black">The conversion price for the above Geneva Roth notes shall be equal to a </span><span id="xdx_908_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20201201__20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zhmRBdKcKkH6" style="font: 10pt Times New Roman, Times, Serif; color: Black">35</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">% discount of the market price based on the average of the lowest three trading prices of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion. Notwithstanding the foregoing, Geneva Roth shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Geneva Roth and its affiliates, exceeds </span><span id="xdx_906_ecustom--PercentageOfOutstandingSharesOfCommonStock_pid_dp_uPure_c20201201__20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember__srt--RangeAxis__srt--MinimumMember_zBvZ27u0iO91" style="font: 10pt Times New Roman, Times, Serif; color: Black">9.99</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">% of the outstanding shares of the Company’s common stock.</span> <span style="font: 10pt Times New Roman, Times, Serif; color: Black">These notes are treated as stock settled debt under ASC 480 and accordingly the Company recorded a total of $<span id="xdx_903_eus-gaap--DebtInstrumentUnamortizedPremium_c20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_pp0p0">113,077 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">put premium for the three notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The above Geneva Roth notes contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal shall accrue at a default interest rate of <span id="xdx_909_ecustom--DebtDefaultAmountPercentage_pid_dp_uPure_c20201201__20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zR9DK8ymxYqi" title="Debt default amount percentage">22</span>% per annum, or if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total principal amounts outstanding under the above Geneva Roth financing agreements were $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zFQi7YehIjO8" title="Convertible debt principal amount">132,000</span> and accrued interest of $<span id="xdx_907_eus-gaap--InterestPayableCurrentAndNoncurrent_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_pp0p0" title="Accrued interest">3,477</span> as of June 30, 2021 following conversion of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember_zC360zEKOCR5">78,000</span> of the principal balance and $<span id="xdx_908_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember_zXRYDWNZ3rce" title="Accrued interest">3,120</span> accrued interest during the year ended June 30, 2021. Accordingly, $<span id="xdx_906_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zD3bqIYfPui8" title="Debt premium amount">42,000</span> of the put premium was released in respect of the Geneva Roth financing agreements during the year ended June 30, 2021 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Amortization of debt discounts</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company recorded $<span id="xdx_907_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z97YR7adUCde" title="Amortization of debt discount">211,000</span> and $<span id="xdx_90D_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zGs6lgmrl1q7" title="Amortization of debt discount">728,904</span> of debt discounts related to the above note issuances during the years ended June 30, 2021 and 2020, respectively. The Company recorded $<span id="xdx_90F_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zSI8WbWDkQXe" title="Original issue discount">498,160</span> and $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zxmpIMrXZTi9" title="Original issue discount">836,724</span> of put premiums related to the above note issuances during the years ended June 30, 2021 and 2020, respectively. The debt discounts are being amortized over the term of the debt and the put premiums are expensed on issuance of the debt with the liability released to additional paid in capital on conversion of the principal.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Amortization of all debt discounts for the years ended June 30, 2021 and 2020 was $<span id="xdx_909_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20200701__20210630_zoloR4T28Ki6" title="Amortization of debt discount">136,527</span> and $<span id="xdx_904_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20190701__20200630_zED7e8UWunw6" title="Amortization of debt discount">734,130</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company reclassified $<span id="xdx_909_ecustom--ReclassifiedPremiumAmountForAdditionalPaidInCapital_pp0p0_c20200701__20210630_zEz7E5kvysEf" title="Reclassified premium amount for additional paid in capital">590,504</span> and $<span id="xdx_90F_ecustom--ReclassifiedPremiumAmountForAdditionalPaidInCapital_pp0p0_c20190701__20200630_zkkG58hK8d3d" title="Reclassified premium amount for additional paid in capital">874,924</span> in put premiums to additional paid in capital following conversions during the year ended June 30, 2021 and 2020, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_89C_eus-gaap--ConvertibleDebtTableTextBlock_ziVRkGrZePIh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company’s convertible notes outstanding at June 30, 2021 and 2020 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; display: none; color: Black"> <span id="xdx_8BA_zvU50JaaWwyd">SCHEDULE OF CONVERTIBLE NOTES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_494_20210630_zsrmn1iivXZg" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_49B_20200630_zuQpL0kHaTa" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentCarryingAmount_iI_pp0p0_maLTDzcuB_zuxg3RTxe1Li" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Convertible notes and debenture</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">400,128</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,029,496</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pp0p0_di_msLTDzcuB_zuUODCdu4b44" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Unamortized discounts</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(6,139</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(126,667</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40C_eus-gaap--DepositLiabilitiesAccruedInterest_iI_pp0p0_maLTDzcuB_zPzWSAs6KWd3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Accrued interest</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">34,098</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">80,101</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_maLTDzcuB_zEJVrrhbTgpb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Premium, net</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">196,496</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">574,804</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_403_eus-gaap--LongTermDebt_iTI_pp0p0_mtLTDzcuB_z7Pcz6TEePia" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Convertible notes, net</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">624,583</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,557,734</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 400128 1029496 6139 126667 34098 80101 196496 574804 624583 1557734 532435 25354 507081 2018-12-29 0.08 20065 171965 360470 43535 0 0 171965 24751 0 75000 71250 3750 2019-07-13 0.08 5786 75000 0 0 75000 9300 0 105000 2019-08-29 0.08 0.24 210000 10000 2019-10-02 0.08 0.24 105000 5000 2019-11-30 0.08 0.24 126000 6000 2019-12-24 0.08 0.24 0.24 0.60 0.61 0.50 0.51 0.10 0.0499 357688 224131 133557 205500 26990 0 0.08 212000 106000 100700 106000 106000 0.61 2018-10-02 58000 3500 2500 52000 2021-01-22 0.40 1.12 1.30 0.24 106438 22901 38667 8802 58000 141820 76397 0 58000 8508 310000 0.10 750 0.65 2019-08-10 155000 155000 0.18 578212 140000 10764 161000 19418 9000 500 5248 8500 22168 100000 56762 8500 23262 25000 43238 80000 3738 20000 43000 40000 2500 500 2020-11-26 0.08 75000 72000 2500 500 2021-01-07 0.08 43000 40000 2500 500 2021-03-12 0.08 0.22 1.50 The conversion price for the above Power Up notes was $3,050, subject to certain Market Price (as defined below) adjustment. If the Market Price was greater than or equal to $5,000, the conversion price was to be the greater of 65% of the Market Price (“Variable Conversion Price”) and $3,050. In the event Market Price was less than $5,000, the conversion price was to be the Variable Conversion Price. As defined in the note agreements, the “Market Price” was the average of the lowest three closing bid prices during the ten day trading period prior to and including the day the Company receives a notice of conversion from Power Up on the electronic quotation system or applicable principal securities exchange or trading market or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” during the ten prior trading days, including the day upon which the Company receives a notice of conversion from Power Up. Notwithstanding the foregoing, Power Up was restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Power Up and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock. 0.65 10 0.0499 422557 118000 118000 3903 3903 0 0 43000 1816 0 133000 3000 130000 2020-05-23 0.08 133000 1137 0 0 133000 5320 320000 25000 295000 10000 285000 2020-07-30 0.10 0.24 172308 1.20 0.24 0.65 0 0 320000 23220 550000 550000 5000 40000 505000 2020-08-30 0.10 366667 0.24 1.25 0.24 Upon the holder’s election to convert accrued interest, default interest or any penalty amounts as stipulated, the Company may elect to pay those amounts in cash. The note may also be prepaid by the Company at any time between the date of issuance and August 13, 2020 at 135% multiplied by the sum of (a) the then outstanding principal amount plus (b) accrued and unpaid interest plus (c) default interests 0.60 0.0499 450 2250 300 3330 225 4500 0.0499 375905 486 191035 43176 127356 32848 0 326117 39536 217411 131000 6000 125000 2020-10-01 0.08 131000 6000 125000 2021-12-10 0.08 0.24 1.10 1.50 0.0499 174666 30000 1776 101000 5082 0 30000 3877 67333 20000 90000 4636 41000 1084 27333 108000 3000 5000 100000 2019-10-03 0.10 1.10 1.50 0.0499 0.0999 72000 0.15 65280 7232 42720 28480 65280 16138 15000 9600 6400 16000 110250 5250 5000 100000 2020-01-13 0.08 1.20 1.50 The conversion price for the January 13, 2020 Ader Alef Note during the first 6 months the January 13, 2020 Ader Alef Note was fixed at $2.50 and thereafter would be equal to a 35% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion was received. Notwithstanding the foregoing, Ader Alef was restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Ader Alef and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock which may be increased up to 9.99% upon 60 days prior written notice by the Ader Alef to the Company. 0.35 0.0499 0.0999 59365 110250 4073 0 0 110250 7493 59365 75000 3750 2500 71250 2021-02-19 0.08 1.12 1.35 The conversion price for the February 19, 2020 LG Capital Note during the first 6 months the February 19, 2020 LG Capital Note was fixed at $500 and thereafter was equal to a 35% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion was received. Notwithstanding the foregoing, LG Capital was restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by LG Capital and its affiliates, exceeds 9.99% of the outstanding shares of the Company’s common stock. 9.99 40385 0.24 75000 2164 0 0 75000 5421 40385 9427 10000 416 5385 15801 78000 3000 0.08 68500 3500 0.08 2021-01-05 63500 3500 0.08 2021-03-16 1.10 1.29 The conversion price for the above Geneva Roth notes shall be equal to a 0.35 0.0999 113077 0.22 132000 3477 78000 3120 42000 211000 728904 498160 836724 136527 734130 590504 874924 <p id="xdx_804_eus-gaap--IncomeTaxDisclosureTextBlock_zoUNBWa6TWf9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 7 – <span id="xdx_82A_zUnPb5Jodezk">INCOME TAXES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company follows ASC 740-10-10, under which an entity recognizes deferred tax assets and liabilities for future tax consequences or for events that were previously recognized in the Company’s financial statements or tax returns. The measurement of deferred tax assets and liabilities is based on enacted tax law provisions. The effects of future changes in tax laws or rates are not anticipated. Through June 30, 2010, the Company operated exclusively in Australia. The Company was wholly subject to Australian income tax laws and regulations, which are administered by the Australian Taxation Office for the years ended June 30, 2010 and all prior years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On November 23, 2010, the Company was incorporated in the state of Delaware. In January 2011, the Company acquired all of the outstanding shares of Propanc PTY LTD on a one-for-one basis with Propanc PTY LTD becoming a wholly owned subsidiary of the Company. As a result of these transactions, the Company is subject to the income tax laws of both the United States and Australia for the years ended June 30, 2013 through June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zq6pSYl2gst8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The reconciliation of income tax expense computed at the U.S. federal statutory rate of <span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPercentage_c20200701__20210630_zcMFKyG8phE7" title="Income tax percentage"><span id="xdx_901_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPercentage_c20190701__20200630_zdBxwBfsNkA" title="Income tax percentage">21</span></span>% to the income tax provision for the years ended June 30, 2021 and 2020 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 8.5pt Segoe UI,sans-serif; margin: 0"><span id="xdx_8B8_zxxl79r3HSs9" style="display: none">SCHEDULE OF INCOME TAX PROVISION</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">US</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" id="xdx_49B_20200701__20210630__srt--StatementGeographicalAxis__country--US_zSgCEesLAXfb" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">June 30, 2021</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" id="xdx_49A_20190701__20200630__srt--StatementGeographicalAxis__country--US_zYj9eqzE26Te" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">June 30, 2020</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Year Ended</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">US</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pp0p0_zhUJF5Fi5dNi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Loss before Income taxes</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(2,025,947</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(4,740,723</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzOQe_zIU9tqeaUh9g" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Taxes under statutory US tax rates</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(425,449</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(995,552</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzOQe_z4vI3oRSIpf9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Increase (decrease) in valuation allowance</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,146,001</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,137,716</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_maITEBzOQe_z9iQbvGBkZa1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Prior period adjustment</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(1,063,710</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(14,624</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_maITEBzOQe_z3kFZI11ojl9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign tax rate differential</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(51,169</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(128,492</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationTaxCredits_pp0p0_msITEBzOQe_znRgF8OODJA7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Income tax rate change</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">392,767</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1703"> </span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">-</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzOQe_zLHrjdfb1Frc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Other</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,559</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">952</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxExpenseBenefit_iT_pp0p0_mtITEBzOQe_z8TaVF0Tk2Ql" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Income tax (expense) benefit</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1708">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1709">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A8_zxLluA1MdAzc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company reflects a tax benefit on its consolidated statement of operations and comprehensive income (loss) in 2021 and 2020 of $<span id="xdx_900_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_c20200701__20210630_znGelqCjITDb" title="Tax benefit">113,415</span> and $<span id="xdx_90B_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_di_c20190701__20200630_zQTSIGKwbRte" title="Tax benefit">134,728</span>, respectively. These amounts are research and development tax credits and are not considered income tax.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. <span id="xdx_901_eus-gaap--IncomeTaxExaminationDescription_c20200324__20200327__us-gaap--TypeOfArrangementAxis__custom--CaresActMember_zNICMqUmmFHe">The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021.</span> In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The Company is currently evaluating the impact of the CARES Act, but due to sustained losses, the NOL carryback provision of the CARES Act would not yield a benefit to us.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zV4ys0tVWbi4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span><span id="xdx_8BF_zUvJ23zA4ce2" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" id="xdx_493_20210630_zA7OqSLxk0rh" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">June 30, 2021</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" id="xdx_49F_20200630_z2u0FqruVlw1" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">June 30, 2020</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Year Ended</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Deferred tax assets</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetsWarrantDerivativeLiability_iI_pp0p0_maDTAGzhU3_zsIM3aiSPan3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Warrant Derivative Liability</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">7,403</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">7,403</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pp0p0_maDTAGzhU3_z39v0JmmRzgh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Accrued Expenses</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">342,464</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">297,086</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_404_ecustom--DeferredTaxAssetsPrepaidInvestorServices_iI_pp0p0_maDTAGzhU3_zs5z5qnLjCR7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Prepaid Investor Services</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">444,411</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">470,050</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsNonCashInterest_iI_pp0p0_maDTAGzhU3_zbruP5l38mra" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Non-cash interest</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">687,529</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">596,004</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_pp0p0_maDTAGzhU3_z1IjbyuZlJNf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Intangibles (Intellectual Property and Patent Cost)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">259,743</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">240,428</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent_iI_pp0p0_maDTAGzhU3_zlAyguQLKql9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Deferred Rent</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">4,262</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,969</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iI_pp0p0_maDTAGzhU3_zh29TakOlpN8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Formation Expense</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">6,815</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">7,208</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTAGzhU3_zeN7NzTpnym2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Net Operating Loss CF</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">8,546,920</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">7,438,911</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40F_ecustom--DeferredTaxAssetsForeignExchangeLoss_iI_pp0p0_maDTAGzhU3_znhJOjUBv9zc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign Exchange Loss (OCI)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(39,379</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(39,379</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsRevalueOfDerivativeLiability_iI_pp0p0_maDTAGzhU3_z2qrS8FEmXae" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Revalue of derivative liability</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">439,958</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">438,239</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pp0p0_maDTAGzhU3_zUq5QwOWluRd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Stock Based Compensation</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">51,481</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">51,481</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_mtDTAGzhU3_maDTANz51B_zSomKbWDzIM8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total Deferred tax assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">10,751,607</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">9,509,400</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Deferred tax liabilities</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts_iNI_pp0p0_di_maDITLzdtb_zrJP4gkoj7Ib" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">R&amp;D</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(197,604</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(177,702</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40F_ecustom--DeferredTaxLiabilitiesGainOnExtinguishmentOfDebt_iNI_pp0p0_di_maDITLzdtb_zSyJS2MFsJx6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Gain on extinguishment of debt</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(277,614</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">266,987</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseDeferredFinancingCosts_iNI_pp0p0_di_maDITLzdtb_zTEacSOpGxXe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Capital Raising Costs</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(321,291</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(255,614</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_403_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pp0p0_di_mtDITLzdtb_msDTANz51B_zaDntMXslQF1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total deferred tax liabilities</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(796,509</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(700,303</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0_mtDTANz51B_maDTALNzVhZ_z8gpYprBgWF3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Net deferred tax assets (liabilities)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">9,955,098</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">8,809,097</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTALNzVhZ_zTERLOTkxohh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Valuation allowance</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(9,955,098</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(8,809,097</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_pp0p0_mtDTALNzVhZ_z2rv3BpLnS55" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Net deferred tax assets (liabilities)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1772">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8AF_zEoqAdIPi3cg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">At June 30, 2021, the Company had U.S. net operating loss carry forwards of approximately $<span id="xdx_90E_eus-gaap--OperatingLossCarryforwards_iI_pp0p0_c20210630__srt--StatementGeographicalAxis__country--US_zdRpmeX2B4Qf" title="Operating loss carryforwards">9,588,164 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">that may be offset against future taxable income, subject to limitation under IRC Section 382. Of the approximately $<span id="xdx_90A_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20210630_zh6iGyk4E8y9" title="Operating loss carryforwards">9.6</span> million of net operating loss carryforwards, $<span id="xdx_909_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20210630__srt--StatementGeographicalAxis__country--AU__us-gaap--AwardDateAxis__custom--ExpireInTwoThousandTwentyFourMember_zxpXGaxwDpd" title="Operating loss carryforwards">7.2</span> million will begin to expire in 2024 and the remaining $<span id="xdx_900_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20210630__srt--StatementGeographicalAxis__country--AU__us-gaap--AwardDateAxis__custom--NotExpireMember_zRbswM7wiVji" title="Operating loss carryforwards">2.4</span> million will not expire. The Australian tax rate changed from <span id="xdx_900_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_c20190701__20200630__srt--StatementGeographicalAxis__country--AU_zSSPzGJCVrOg" title="Income tax rate">27.5%</span> in 2020 to <span id="xdx_908_eus-gaap--EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_pid_dp_uPure_c20200701__20210630__srt--StatementGeographicalAxis__country--AU_z6upJzuySn75" title="Income tax rate">26%</span> in 2021. At June 30, 2021, the Company had Australia net operating loss carry forwards of approximately $<span id="xdx_90F_eus-gaap--OperatingLossCarryforwards_iI_pp0p0_c20210630__srt--StatementGeographicalAxis__country--AU_zqz2R2gp0G7g" title="Operating loss carryforwards">25,128,485 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">million which can be carried forward without expiration. <span id="xdx_906_eus-gaap--IncomeTaxExpenseBenefit_pp0p0_do_c20200701__20210630__srt--StatementGeographicalAxis__country--AU_zff6aukiG5Ok">No </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">tax benefit has been reported in the June 30, 2021 and 2020 consolidated financial statements due to the uncertainty surrounding the realizability of the benefit, based on a more likely than not criteria and in consideration of available positive and negative evidence.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company applied the “more-likely-than-not” recognition threshold to all tax positions taken or expected to be taken in a tax return, which resulted in <span id="xdx_906_eus-gaap--UnrecognizedTaxBenefits_iI_pp0p0_do_c20210630_zJwGyOocuSw3" title="Unrecognized tax benefits"><span id="xdx_90D_eus-gaap--UnrecognizedTaxBenefits_iI_pp0p0_do_c20200630_zaRtA0qtsLuh" title="Unrecognized tax benefits">no</span></span> unrecognized tax benefits as of June 30, 2021 and 2020, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Management has determined that the realization of the net deferred tax asset is not assured and has created a valuation allowance for the entire amount of such benefits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company follows ASC 740-10, which provides guidance for the recognition and measurement of certain tax positions in an enterprise’s financial statements. Recognition involves a determination whether it is more likely than not that a tax position will be sustained upon examination with the presumption that the tax position will be examined by the appropriate taxing authority having full knowledge of all relevant information.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company applied the “more-likely-than-not” recognition threshold to all tax positions taken or expected to be taken in a tax return, which resulted in no unrecognized tax benefits as of June 30, 2021 and 2020, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company’s policy is to record interest and penalties associated with unrecognized tax benefits as additional income taxes in the consolidated statement of operations. As of June 30, 2021, the Company had <span id="xdx_90C_eus-gaap--UnrecognizedTaxBenefits_iI_pp0p0_do_c20210630_zfYqiygoEkHf" title="Unrecognized tax benefits">no</span> unrecognized tax benefits. There were <span id="xdx_90F_eus-gaap--UnrecognizedTaxBenefitsPeriodIncreaseDecrease_pp0p0_do_c20200701__20210630_zINZpCkISgag" title="Changes in unrecognized tax benefits"><span id="xdx_90A_eus-gaap--UnrecognizedTaxBenefitsPeriodIncreaseDecrease_pp0p0_do_c20190701__20200630_zNM4b7ULrCc5" title="Changes in unrecognized tax benefits">no</span></span> changes in the Company’s unrecognized tax benefits during the years ended June 30, 2021 and 2020. The Company did not recognize any interest or penalties during fiscal 2021 or 2020 related to unrecognized tax benefits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The income tax returns filed for the tax years from inception will be subject to examination by the relevant taxing authorities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></p> <p id="xdx_898_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zq6pSYl2gst8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The reconciliation of income tax expense computed at the U.S. federal statutory rate of <span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPercentage_c20200701__20210630_zcMFKyG8phE7" title="Income tax percentage"><span id="xdx_901_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPercentage_c20190701__20200630_zdBxwBfsNkA" title="Income tax percentage">21</span></span>% to the income tax provision for the years ended June 30, 2021 and 2020 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 8.5pt Segoe UI,sans-serif; margin: 0"><span id="xdx_8B8_zxxl79r3HSs9" style="display: none">SCHEDULE OF INCOME TAX PROVISION</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">US</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" id="xdx_49B_20200701__20210630__srt--StatementGeographicalAxis__country--US_zSgCEesLAXfb" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">June 30, 2021</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" id="xdx_49A_20190701__20200630__srt--StatementGeographicalAxis__country--US_zYj9eqzE26Te" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">June 30, 2020</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Year Ended</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">US</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_409_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_pp0p0_zhUJF5Fi5dNi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Loss before Income taxes</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(2,025,947</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(4,740,723</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzOQe_zIU9tqeaUh9g" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Taxes under statutory US tax rates</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(425,449</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(995,552</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzOQe_z4vI3oRSIpf9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Increase (decrease) in valuation allowance</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,146,001</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,137,716</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40D_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_maITEBzOQe_z9iQbvGBkZa1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Prior period adjustment</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(1,063,710</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(14,624</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationForeignIncomeTaxRateDifferential_maITEBzOQe_z3kFZI11ojl9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign tax rate differential</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(51,169</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(128,492</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationTaxCredits_pp0p0_msITEBzOQe_znRgF8OODJA7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Income tax rate change</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">392,767</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1703"> </span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">-</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzOQe_zLHrjdfb1Frc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Other</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,559</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">952</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxExpenseBenefit_iT_pp0p0_mtITEBzOQe_z8TaVF0Tk2Ql" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Income tax (expense) benefit</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1708">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1709">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> -2025947 -4740723 -425449 -995552 1146001 1137716 -1063710 -14624 -51169 -128492 392767 1559 952 -113415 -134728 The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. <p id="xdx_89E_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zV4ys0tVWbi4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span><span id="xdx_8BF_zUvJ23zA4ce2" style="display: none">SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" id="xdx_493_20210630_zA7OqSLxk0rh" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">June 30, 2021</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td colspan="2" id="xdx_49F_20200630_z2u0FqruVlw1" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">June 30, 2020</span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Year Ended</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Deferred tax assets</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_400_ecustom--DeferredTaxAssetsWarrantDerivativeLiability_iI_pp0p0_maDTAGzhU3_zsIM3aiSPan3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Warrant Derivative Liability</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">7,403</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">7,403</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pp0p0_maDTAGzhU3_z39v0JmmRzgh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Accrued Expenses</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">342,464</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">297,086</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_404_ecustom--DeferredTaxAssetsPrepaidInvestorServices_iI_pp0p0_maDTAGzhU3_zs5z5qnLjCR7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Prepaid Investor Services</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">444,411</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">470,050</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40A_ecustom--DeferredTaxAssetsNonCashInterest_iI_pp0p0_maDTAGzhU3_zbruP5l38mra" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Non-cash interest</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">687,529</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">596,004</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_pp0p0_maDTAGzhU3_z1IjbyuZlJNf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Intangibles (Intellectual Property and Patent Cost)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">259,743</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">240,428</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsDeferredRent_iI_pp0p0_maDTAGzhU3_zlAyguQLKql9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Deferred Rent</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">4,262</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">1,969</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iI_pp0p0_maDTAGzhU3_zh29TakOlpN8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Formation Expense</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">6,815</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">7,208</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0_maDTAGzhU3_zeN7NzTpnym2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Net Operating Loss CF</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">8,546,920</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">7,438,911</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40F_ecustom--DeferredTaxAssetsForeignExchangeLoss_iI_pp0p0_maDTAGzhU3_znhJOjUBv9zc" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Foreign Exchange Loss (OCI)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(39,379</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(39,379</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40E_ecustom--DeferredTaxAssetsRevalueOfDerivativeLiability_iI_pp0p0_maDTAGzhU3_z2qrS8FEmXae" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Revalue of derivative liability</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">439,958</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">438,239</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pp0p0_maDTAGzhU3_zUq5QwOWluRd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Stock Based Compensation</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">51,481</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">51,481</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsGross_iTI_pp0p0_mtDTAGzhU3_maDTANz51B_zSomKbWDzIM8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total Deferred tax assets</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">10,751,607</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">9,509,400</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Deferred tax liabilities</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts_iNI_pp0p0_di_maDITLzdtb_zrJP4gkoj7Ib" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">R&amp;D</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(197,604</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(177,702</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40F_ecustom--DeferredTaxLiabilitiesGainOnExtinguishmentOfDebt_iNI_pp0p0_di_maDITLzdtb_zSyJS2MFsJx6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Gain on extinguishment of debt</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(277,614</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">266,987</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxLiabilitiesDeferredExpenseDeferredFinancingCosts_iNI_pp0p0_di_maDITLzdtb_zTEacSOpGxXe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Capital Raising Costs</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(321,291</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(255,614</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_403_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pp0p0_di_mtDITLzdtb_msDTANz51B_zaDntMXslQF1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total deferred tax liabilities</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(796,509</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(700,303</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0_mtDTANz51B_maDTALNzVhZ_z8gpYprBgWF3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Net deferred tax assets (liabilities)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">9,955,098</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">8,809,097</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_msDTALNzVhZ_zTERLOTkxohh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Valuation allowance</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(9,955,098</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(8,809,097</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iI_pp0p0_mtDTALNzVhZ_z2rv3BpLnS55" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Net deferred tax assets (liabilities)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1772">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl1773">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 7403 7403 342464 297086 444411 470050 687529 596004 259743 240428 4262 1969 6815 7208 8546920 7438911 -39379 -39379 439958 438239 51481 51481 10751607 9509400 197604 177702 277614 -266987 321291 255614 796509 700303 9955098 8809097 9955098 8809097 9588164 9600000 7200000 2400000 0.275 0.26 25128485 0 0 0 0 0 0 <p id="xdx_80A_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zDofS11dMtob" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 8 – <span id="xdx_823_zpbrRbXbhIlk">STOCKHOLDERS’ DEFICIT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline">Increase in Authorized Shares of Common Stock and Reverse Stock Split</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On February 4, 2020 the Directors resolved to increase the Common Stock of the Company from <span id="xdx_90B_eus-gaap--CommonStockSharesAuthorized_iI_c20210203_zEdsVrHBv7C5">100,000,000</span> authorized shares to <span id="xdx_90B_eus-gaap--CommonStockSharesAuthorized_c20210204_pdd" title="Common stock, shares authorized">1,000,000,000</span> authorized shares and believes that such number of authorized shares of Common Stock will be in the best interests of the Corporation and its stockholders because the Board believes that the availability of more shares of Common Stock for issuance will allow the Corporation greater flexibility in pursuing financing from investors, meeting business needs as they arise, taking advantage of favorable opportunities and responding to a changing corporate environment. The Company filed the necessary documents with the U.S. Securities and Exchange Commission on February 6, 2020 and with the amendment to the authorized shares being approved by the State of Delaware on March 13, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On November 17, 2020, the Company effected a <span id="xdx_903_eus-gaap--StockholdersEquityReverseStockSplit_c20201116__20201117_zemL0lZyxZzf" title="Reverse stock split">one-for-one thousand (1:1,000)</span> reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). Proportional adjustments for the Reverse Stock Split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the Reverse Stock Split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><span style="text-decoration: underline">Preferred Stock</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The total number of shares of preferred stock that the Company is authorized to issue is <span id="xdx_905_eus-gaap--PreferredStockSharesAuthorized_c20210630_pdd" title="Preferred stock, shares authorized">1,500,005</span>, $<span id="xdx_90D_eus-gaap--PreferredStockParOrStatedValuePerShare_c20210630_pdd" title="Preferred stock, par value">0.01</span> par value per share. These preferred shares have no rights to dividends, profit sharing or liquidation preferences.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Of the total preferred shares authorized, <span title="Preferred stock, shares authorized"><span id="xdx_90A_eus-gaap--PreferredStockSharesAuthorized_iI_c20200630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_z8qZZXLoGcSc">500,000</span></span> have been designated as Series A Preferred Stock (“Series A Preferred Stock”), pursuant to the Certificate of Designation filed with the Secretary of State of the State of Delaware on December 9, 2014. James Nathanielsz, the Company’s Chief Executive Officer and Chief Financial Officer, beneficially owns all of the outstanding shares of Series A Preferred Stock via North Horizon Pty Ltd., which entitles him, as a holder of Series A Preferred Stock, to vote on all matters submitted or required to be submitted to a vote of the Company’s stockholders, except election and removal of directors, and each share of Series A Preferred Stock entitles him to two votes per share of Series A Preferred Stock. North Horizon Pty Ltd. is a Nathanielsz Family Trust. Mr. James Nathanielsz, the Chief Executive Officer, Chief Financial Officer and a director of our Company, has voting and investment power over these shares. <span id="xdx_902_eus-gaap--PreferredStockSharesIssued_c20210630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_pdd" title="Preferred stock, shares issued"><span id="xdx_903_eus-gaap--PreferredStockSharesOutstanding_c20210630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_pdd" title="Preferred stock, shares outstanding"><span id="xdx_903_eus-gaap--PreferredStockSharesIssued_c20200630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_pdd" title="Preferred stock, shares issued"><span id="xdx_900_eus-gaap--PreferredStockSharesOutstanding_c20200630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_pdd" title="Preferred stock, shares outstanding">500,000</span></span></span></span> shares of Series A Preferred Stock are issued and outstanding as of June 30, 2021 and 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Of the total preferred shares authorized, pursuant to the Certificate of Designation filed with the Secretary of State of the State of Delaware on June 16, 2015, up to five shares have been designated as Series B Preferred Stock (“Series B Preferred Stock”). Each holder of outstanding shares of Series B Preferred Stock is entitled to voting power equivalent to the number of votes equal to the total number of shares of common stock outstanding as of the record date for the determination of stockholders entitled to vote at each meeting of stockholders of the Company and entitled to vote on all matters submitted or required to be submitted to a vote of the stockholders of the Company. One share of Series B Preferred Stock is issued and outstanding as of June 30, 2021 and 2020. Mr. Nathanielsz directly beneficially owns such one share of Series B Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">No additional shares of Series A Preferred Stock or Series B Preferred Stock were issued during fiscal year 2021 and 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><span style="text-decoration: underline">Common Stock</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Shares Issued for Cash</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i><span style="text-decoration: underline">April 3, 2020 Security Purchase Agreement</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On April 3, 2020, <span id="xdx_906_ecustom--EquityPurchaseAgreementDescription_c20200402__20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zQzJVOXLplV2" title="Equity purchase agreement description">the Company closed on a transaction related to a Securities Purchase Agreement (the “Securities Purchase Agreement”) entered into on March 30, 2020, whereby an investor (the “Investor”) purchased from the Company, 7,500 units (the “Units”), each consisting of (i) 1.5 shares of the Company’s common stock (the “Common Stock”), or pre-funded warrants (the “Prefunded Warrants”) upon Investor’s election due to the 4.99% blocker provision as discussed below and (ii) 1.5 warrants to purchase one share of Common Stock (“Series A Warrants”, and collectively with the Common Stock the “Units”).</span> In addition to the Units, the Investor was issued <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_zAKVh0VFqBm3" title="Warrants to purchase common stock">63,750</span> warrants to purchase one share of Common Stock (the “Series B Warrants”) and an additional <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesCWarrantsMember_zkeWadLtjJzb" title="Warrants to purchase common stock">63,750</span> warrants to purchase one share of Common Stock, subject to a vesting schedule (the “Series C Warrants” and, together with the Prefunded Warrants, the Series A Warrants, and the Series B Warrants, the “Warrants”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The aggregate purchase price for the Units, the Series A Warrants with exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAWarrantsMember_znkv22AGeQF4" title="Warrant exercise price">200</span> per share, the Series B Warrants with exercise price of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_zXFlRpOohsQb" title="Warrant exercise price">40</span> per share and the Series C Warrants with exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesCWarrantsMember_z3yErjs5iHs1" title="Warrant exercise price">200</span> per share, of $<span id="xdx_90B_eus-gaap--FairValueAdjustmentOfWarrants_pp0p0_c20200402__20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zM1MkBaMIzA7" title="Fair value of warrants">450,000</span> was paid at closing (the “Purchase Price”) or $60 per unit purchase price (see Warrants below). The Company received net proceeds of $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOfWarrants_pp0p0_c20200402__20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zmZ6AYE7zrkc" title="Proceeds from warrants">424,990</span>, net of offering cost of $<span id="xdx_902_eus-gaap--PaymentsOfStockIssuanceCosts_pp0p0_c20200402__20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zxXzHfOERk2c" title="Offering cost">25,010</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Securities Purchase Agreement contains a blocker provision whereby the Investor or any of its affiliates would not beneficially own in excess of <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pip0_dp_uPure_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zkqEarGzUfz1">4.99%</span> of the outstanding number of shares of Common Stock (“Beneficial Ownership Limitation”). As such, the Investor may elect to purchase Prefunded Warrants equal to the same number of shares of Common Stock that the Company would have been issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Due to the Beneficial Ownership Limitation, the <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200402__20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zc2NonDYiGfg" title="Common stock issued during period">11,250</span> shares of Common Stock underlying the Units issuable at closing of the Securities Purchase Agreement are comprised of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20200402__20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zzfgAYHtABF6" title="Number of restricted stock, shares">804</span> shares of restricted Common Stock and <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_zurG6NZFHGPh" title="Warrants to purchase common stock">10,446</span> Prefunded Warrants with exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_zPeBk9AvUOvi" title="Warrant exercise price">1</span> (but can be less than par value). The Prefunded Warrants shall be exercisable immediately and shall expire when exercised in full.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Securities Purchase Agreement contains such representations, warranties and covenants as are typical for a transaction of this nature.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Shares issued for conversion of convertible debt</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During the year ended June 30, 2020, the Company issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zF1o74Iatpdl" title="Common stock issued during period">247,619</span> shares of its common stock at an average contractual conversion price of $<span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zRu1BOZ7gFLl" title="Conversion price">7</span>, ranging from $<span id="xdx_902_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__srt--RangeAxis__srt--MinimumMember_zdk4IkfmLyK4" title="Conversion price">2</span> to $<span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zTsXQm3Owsbb" title="Conversion price">910</span>, as a result of the conversion of principal and interest in the aggregate amount of $<span id="xdx_90D_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zEFIa8788IZk" title="Conversion of principal and interest, aggregate amount">1,814,336</span> underlying certain outstanding principal amount and accrued interest of convertible notes converted during such period, including $<span id="xdx_907_ecustom--ConversionFees_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_z1Y9Y8O4sjIe" title="Conversion fees">15,000</span> of conversion fees. The total recorded to equity was $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfCommonStock_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_z4RbqAqFQ8Q9" title="Proceeds from issuance of common stock">2,125,174</span>. Notes with principal amounts totaling $<span id="xdx_902_ecustom--ConversionOptionDerivatives_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zzfD8Z4BvkT8" title="Conversion option derivatives">254,500</span> and accrued interest of $<span id="xdx_904_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zhtMhMv9WjYg" title="Accrued interest">15,408</span> contained bifurcated embedded conversion option derivatives. Accordingly, the fair market value of the shares issued was $<span id="xdx_904_ecustom--FairMarketValueOfShares_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zsYfcDTrhCIj" title="Fair market value of the shares">565,746</span> resulting in a loss on extinguishment at the time of conversion of $<span id="xdx_90D_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_z9JBj30nqpjh" title="Loss on extinguishment">295,838</span> and $<span id="xdx_909_eus-gaap--DerivativeFairValueOfDerivativeNet_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zDo68gcdGz6b" title="Derivative fair value">362,961</span> of derivative fair value was recorded as a gain on extinguishment at the time of conversion. The Company reclassified $<span id="xdx_908_ecustom--PremiumsToAdditionalPaidInCapital_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zm2uY8KckkI" title="Premiums to additional paid in capital">874,924</span> in put premiums to additional paid in capital following conversions during the year ended June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During the year ended June 30, 2021, the Company issued an aggregate of <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zzmzgt1k6Urk">8,786,113</span> shares of its common stock at an average contractual conversion price of $<span id="xdx_90F_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zgi5IUtBLy4g">0.13</span>, ranging from $<span id="xdx_909_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__srt--RangeAxis__srt--MinimumMember_zKzl3Q22H2M4">0.03</span> to $<span id="xdx_90C_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zQU3yiRITII7">2.00</span>, as a result of the conversion of principal of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zawYhep7XYy6">1,018,867</span>, interest of $<span id="xdx_901_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_z2PXewyj25Pl">103,321</span> and conversion fees $<span id="xdx_901_ecustom--ConversionFees_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_z8nwnGzWliC8">16,500</span> underlying certain outstanding convertible notes converted during such period. The total recorded to equity was $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfCommonStock_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zmLhMoas1V1b">1,239,075</span> prior to the reversal of unissued shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">There were <span id="xdx_907_eus-gaap--CommonStockSharesSubscribedButUnissued_iI_c20200930_zvwZepU3XH61" title="Common stock, unissued shares">24,427</span> unissued shares which were considered issuable for accounting purposes during the first quarter of fiscal 2021 related to conversion notices dated and received in September 2020. In November 2020, the Company was notified by the note holder of the cancellation of these conversion notices and as such the Company reversed the effects of these transactions thereby increasing the principal balance by $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20201130_zpFWBVfZZM3i" title="Convertible debt principal amount">19,600</span>, accrued interest of $<span id="xdx_904_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20201130_zbIvfesGMJV" title="Accrued interest">416</span> and put premium by $<span id="xdx_902_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20201130_zjj3Yf2nNPXh" title="Debt premium amount">11,785</span> and a corresponding decrease in equity of $<span id="xdx_907_ecustom--DecreaseInEquity_pp0p0_c20201129__20201130_zvj9lkT8srN6" title="Amount of decrease in equity">31,801</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Converted notes totaling principal amount of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_c20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0">95,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and accrued interest of $<span id="xdx_904_eus-gaap--InterestPayableCurrentAndNoncurrent_c20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0">3,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">contained bifurcated embedded conversion option derivatives. Accordingly, the fair market value of the shares issued was $<span id="xdx_90C_ecustom--FairMarketValueOfShares_c20200701__20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0">178,368 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">resulting in a loss on extinguishment at the time of conversion of $<span id="xdx_906_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20200701__20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0">80,368 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and $<span id="xdx_901_eus-gaap--DerivativeFairValueOfDerivativeNet_c20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0">130,975 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">of derivative fair value was recorded as a gain on extinguishment at the time of conversion.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company reclassified $<span id="xdx_90B_ecustom--PremiumsToAdditionalPaidInCapital_c20200701__20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0">590,504 to additional paid in capital following conversions of notes accounted for as stock settled debt during the year ended June 30, 2021.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company has <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--UnderlyingFinancingAgreementsMember_pdd" title="Common stock issued during period">197,308,116</span> shares of its common stock reserved for future issuances based on lender reserve requirements pursuant to underlying financing agreements at June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Shares issued for services</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On July 19, 2019, the Company entered into an agreement with a certain consultant to provide services over a two-month period beginning July 1, 2019 and ending September 1, 2019 in exchange for 20 shares of the Company’s common stock. On July 19, 2019, the Company issued the <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200718__20200719__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_pdd" title="Common stock issued during period">20</span> shares of the Company’s common stock valued at $<span id="xdx_90D_eus-gaap--SharesIssuedPricePerShare_c20200719__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_pdd" title="Share issued price per share">1,990</span> per share; being the closing price of the stock on the date of the agreement, to such consultant, or $<span id="xdx_907_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20200718__20200719__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_pp0p0" title="Proceeds from issuance of common stock">39,800</span>, which will be amortized over the term of the agreement. The Company recorded $<span id="xdx_908_eus-gaap--ProfessionalFees_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--ConsultingAgreementMember_zskhHC2MpVdj" title="Consulting expenses">39,800</span> of consulting expense with respect to such shares of its common stock during the year ended June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Between February 3, 2020 and June 26, 2020, the Company issued an aggregate of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20200202__20200203__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zud6RckbyAIa" title="Stock issued for services, shares"><span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20200625__20200626__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zKk11bt134m4" title="Stock issued for services, shares">8,709</span></span> shares of the Company’s common stock to a consultant for services rendered pursuant to an engagement agreement dated on September 10, 2019 which agreement was later amended in February 2020. Between February 3, 2020 and June 26, 2020, the Company issued an aggregate of <span id="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20200625__20200626__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zS4WwEqgGyM4" title="Stock issued for services, shares"><span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20200625__20200626__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zVCOTLx5ebV9" title="Stock issued for services, shares">8,709</span></span> shares of the Company’s common stock valued at an average price of $<span id="xdx_904_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20200203__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zdjrn0McezL9" title="Common stock, par value"><span id="xdx_90C_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20200626__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zZ8scAbUaK8j" title="Common stock, par value">8</span></span> per share; being the closing price of the stock on the date of the agreement, to such consultant, or $<span id="xdx_90B_eus-gaap--ProfessionalFees_pp0p0_c20200202__20200203__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_z1LUHGxWvIdj" title="Consulting expenses"><span id="xdx_900_eus-gaap--ProfessionalFees_pp0p0_c20200625__20200626__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zZrmOY5ch9Nl" title="Consulting expenses">73,842</span></span>. The Company recorded $<span id="xdx_903_eus-gaap--ProfessionalFees_pp0p0_c20190701__20200630__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zVu3NY8DRQZf" title="Consulting expenses">73,842</span> of consulting expense with respect to such shares of its common stock during the year ended June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On March 22, 2021, the Company issued an aggregate of <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210321__20210322__srt--TitleOfIndividualAxis__custom--ConsultantMember_zK4ts7pTGyY9" title="Number of shares issued for services">225,037</span> shares of the Company’s common stock to a consultant for services rendered from January 1, 2021 to March 22, 2021. The Company issued <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20200701__20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_pdd" title="Number of shares issued for services">225,037</span> shares of the Company’s common stock valued at $<span id="xdx_90A_eus-gaap--SharesIssuedPricePerShare_c20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_pdd" title="Shares issued per price">0.30</span> per share, being the closing price of the stock on the date of grant to such consultant, or $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pp0p0_c20200701__20210630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--ConsultantMember_zhUF8BYRp3Ih" title="Number of shares issued for services, value">67,511</span>. The Company recorded $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pp0p0_c20200701__20210630__srt--TitleOfIndividualAxis__custom--ConsultantMember_zvXvgxYc4jF1" title="Number of shares issued for services, value">67,511</span> of consulting expense with respect to such shares of its common stock during the year ended June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Between March 2021 and June 2021, the Company issued an aggregate of <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210301__20210331__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_z98v5YphXto8"><span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210601__20210630__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zjqIXel6tOQ1">580,609</span></span> shares of the Company’s common stock to a consultant for services rendered from April 1, 2021 to June 30, 2021. The Company issued <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210301__20210331__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zANCvk6P9mjk"><span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20210601__20210630__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zM5PICi8Ffwh">580,609</span></span> shares of the Company’s common stock valued at $<span id="xdx_90C_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20210331__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zl9v7QU8w19l"><span id="xdx_902_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20210630__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zbK4vNipFGil">0.10</span></span> per share, being the closing price of the stock on the date of grant to such consultant, or $<span id="xdx_90E_eus-gaap--ProfessionalFees_pp0p0_c20210301__20210331__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zTQTvLKYppKh"><span id="xdx_902_eus-gaap--ProfessionalFees_pp0p0_c20210601__20210630__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zqlAs0ioI2c5">58,061</span></span>. The Company recorded $<span id="xdx_90C_eus-gaap--ProfessionalFees_pp0p0_c20200701__20210630__srt--TitleOfIndividualAxis__custom--ConsultantMember__us-gaap--TypeOfArrangementAxis__custom--EngagementAgreementMember_zPmjyJKaog14">58,061</span> of consulting expense with respect to such shares of its common stock during the year ended June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Shares issued for exercise of warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During the year ended June 30, 2021, the Company received aggregate gross proceeds of $<span id="xdx_90D_eus-gaap--ProceedsFromWarrantExercises_c20200701__20210630_pp0p0">776,044 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">from the exercise of <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20210630__us-gaap--StatementClassOfStockAxis__custom--PrefundedWarrantsMember_pdd">10,445 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">prefunded warrants and <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20210630__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_pdd">19,375 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Series B Warrants resulting in the issuance of <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200701__20210630__us-gaap--StatementClassOfStockAxis__custom--PrefundedWarrantsMember_pdd">29,820 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">shares of common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Additionally, during 2021 the Company issued <span id="xdx_90A_eus-gaap--CommonStockSharesIssued_iI_c20210630__us-gaap--StatementClassOfStockAxis__custom--TwentySeriesAAndOneSeriesCWarrantsMember_z4XiGfAQTBib">4,199,979 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">shares of common stock from the alternate cashless exercise of 20 Series A and 1 Series C warrants. The Company recognized the value of the effect of a down round feature in such warrants when triggered. Upon the occurrence of the triggering event that resulted in a reduction of the strike price, the Company measured the value of the effect of the feature as the difference between the fair value of the warrants without the down round feature or before the strike price reduction and the fair value of the warrants with a strike price corresponding to the reduced strike price upon the down round feature being triggered. Accordingly, the Company recognized deemed dividend of $<span id="xdx_900_ecustom--DeemedDividend_iN_di_c20200701__20210630_zyNhuYLlIyZh">391,749 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and a corresponding reduction of income available to common stockholders upon the </span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">alternate cashless exercise of these warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Restricted Stock Units</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Pursuant to employment agreements dated in May 2019, the Company granted an aggregate of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190501__20190531_zdMr0ljXcp2i">78 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190501__20190531__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zjT4EQM6i0qj">39 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">restricted stock unit to the Company’s Chief Executive Officer and Chief Scientific Officer, respectively. The total <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190501__20190531__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zw6ANGtIJOUc">117 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">restricted stock units are subject to vesting terms as defined in the employment agreements. The 117 restricted stock units were valued at the fair value of $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20190501__20190531__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zj17rqfAtqfj">4,250 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">per unit or $<span id="xdx_906_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateFairvalue_pp0p0_c20190501__20190531__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQxy1dO86qna">497,240 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">based on the quoted trading price on the date of grant. During the year ended June 30, 2021 and 2020, the Company recognized stock-based compensation of $<span id="xdx_909_eus-gaap--ShareBasedCompensation_c20200701__20210630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_pp0p0">0 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and $<span id="xdx_900_eus-gaap--ShareBasedCompensation_c20190701__20200630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_pp0p0">217,543</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, respectively, related to vested restricted stock units. There were $<span id="xdx_901_ecustom--UnrecognizedRestrictedStockUnitsExpense_c20200701__20210630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_pp0p0">248,620 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">unrecognized restricted stock units expense as of June 30, 2021. There are <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber_iI_c20200630_z3vqF4UjOqve">59 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">unvested restricted stock units which are subject to various performance conditions which have not yet been met and such restricted stock units have not yet vested as of June 30, 2021 and 2020 to which the $<span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_c20210630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zieLyCEmGOui" title="Number of shares not yet vested"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares_iI_c20200630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_znngyW9kylEl">248,620</span></span> relates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Options</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zJAtVHqv7Tac" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">A summary of the Company’s option activity during the years ended June 30, 2021 and 2020 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8B4_z1neiiLP5lU5" style="display: none">SCHEDULE OF STOCK OPTION ACTIVITY</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">Number of</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">Weighted Average</td><td style="color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Options</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Price Per Share</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black">Outstanding at June 30, 2019</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20190701__20200630_zCvoi2Biml0j" style="width: 16%; color: Black; text-align: right" title="Number of Shares, Outstanding, Beginning balance">60</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20190701__20200630_z4nKrz61JCxb" style="width: 16%; color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Beginning balance">76,370</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Issued</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Number of Shares, Issued"><span style="-sec-ix-hidden: xdx2ixbrl1968">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsIssuedInPeriodWeightedAverageExercisePrice_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Issued"><span style="-sec-ix-hidden: xdx2ixbrl1970">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Exercised</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Number of Shares, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1972">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1974">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Expired</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20190701__20200630_zCAdRgPTA2gj" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Expired"><span style="-sec-ix-hidden: xdx2ixbrl1976">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20190701__20200630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="-sec-ix-hidden: xdx2ixbrl1978">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Outstanding at June 30, 2020</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20200701__20210630_zs4OGeOEO8Zg" style="color: Black; text-align: right" title="Number of Shares, Outstanding, Ending balance">60</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20200701__20210630_zpvCzXKi2RAi" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance">76,370</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Issued</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Issued"><span style="-sec-ix-hidden: xdx2ixbrl1984">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsIssuedInPeriodWeightedAverageExercisePrice_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Issued"><span style="-sec-ix-hidden: xdx2ixbrl1986">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Exercised</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1988">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1990">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Expired</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20200701__20210630_z26oJD3Z7ylb" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Expired">(1</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20200701__20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Expired">3,750,000</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Outstanding at June 30, 2021</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20200701__20210630_z8aMmHSwGSKd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Outstanding, Ending balance">59</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20200701__20210630_zrYBXYu3bVe4" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance">13,730</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Exercisable at June 30, 2021</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Exercisable, Ending balance">40</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_c20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercisable, Ending balance">18,193</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Outstanding and Exercisable:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Weighted average remaining contractual term</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20200701__20210630_zQiV9nk5dTk" title="Weighted average remaining contractual term">7.86</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Weighted average fair value of options granted during the period</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right"><span id="xdx_905_ecustom--WeightedAverageFairValueOfOptionsGrantedDuringPeriod_d0_c20200701__20210630_zcXnUFEhxcJ4" title="Weighted average fair value of options granted during the period"><span style="-sec-ix-hidden: xdx2ixbrl2006">-</span></span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Aggregate intrinsic value</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_c20210630_pp0p0" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Aggregate intrinsic value"><span style="-sec-ix-hidden: xdx2ixbrl2008">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zRtgmmXBuksa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On the Effective Date, the Company’s board of directors approved and adopted the Company’s 2019 Equity Incentive Plan (the “2019 Plan”), which reserves a total of <span id="xdx_902_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20210630__us-gaap--PlanNameAxis__custom--TwoThousandNinteenEquityIncentivePlanMember_ziLEvFiYtnC8" title="Number of common shares reserved for future issuance">234</span> shares of the Company’s common stock for issuance under the 2019 Plan. Incentive awards authorized under the 2019 Plan include, but are not limited to, incentive stock options, non-qualified stock options, restricted stock awards and restricted stock units.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During the year ended June 30, 2021 and 2020, the Company recognized stock-based compensation of $<span id="xdx_903_eus-gaap--StockOptionPlanExpense_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementsMember_pp0p0">82,872 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and $<span id="xdx_90A_eus-gaap--StockOptionPlanExpense_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementsMember_pp0p0">82,873 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">related to vested stock options. There was $<span id="xdx_90E_ecustom--UnvestedStockOptionsExpense_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementsMember_pp0p0">72,514 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">of unvested stock options expense as of June 30, 2021 that will be recognized over a remaining vesting period of <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20200701__20210630_zoFTWo0hTlDj" title="Vesting period">0.87</span> year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_do_c20200701__20210630_zNcX2trAMrdj" title="Options granted"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_do_c20190701__20200630_zo2hqyucXJnc">No</span></span> stock options were granted during the years ended June 30, 2021 and 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i>Warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i> </i></b></span></p> <p id="xdx_89C_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zCK2SPds7WP5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The following table summarizes warrant activity for the years ended June 30, 2021 and 2020:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span id="xdx_8BA_zlOH3PPBkAE3" style="display: none">SCHEDULE OF WARRANT ACTIVITY</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">Number of</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">Weighted Average</td><td style="color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Price Per Share</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Outstanding at June 30, 2019</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20190701__20200630_zqxqy7ojzqB3" style="color: Black; text-align: right" title="Number of Shares, Outstanding, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl2022">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iS_c20190701__20200630_zfVXsuFda5Lf" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl2024">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; color: Black">Issued</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssued_c20190701__20200630_pdd" style="width: 16%; color: Black; text-align: right" title="Number of Shares, Issued">151,170</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceIssued_c20190701__20200630_pdd" style="width: 16%; color: Black; text-align: right" title="Weighted Average Price Per Share, Issued">150.00</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Exercised</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20190701__20200630_z6phSP3ACjjb" style="color: Black; text-align: right" title="Number of Shares, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl2030">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExercised_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl2032">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Forfeited</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Number of Shares, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl2034">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExpired_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl2036">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Expired</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_c20190701__20200630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Expired"><span style="-sec-ix-hidden: xdx2ixbrl2038">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceForfeited_c20190701__20200630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="-sec-ix-hidden: xdx2ixbrl2040">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Outstanding at June 30, 2020</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20200701__20210630_zNSUObxM0a33" style="color: Black; text-align: right" title="Number of Shares, Outstanding, Ending balance">151,170</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iS_c20200701__20210630_zsBKJYDHT2Ae" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance">150.00</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Issued</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssued_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Issued"><span style="-sec-ix-hidden: xdx2ixbrl2046">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceIssued_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Issued"><span style="-sec-ix-hidden: xdx2ixbrl2048">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Exercised</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20200701__20210630_z3OKGyW1DQB8" style="color: Black; text-align: right" title="Number of Shares, Exercised">(29,841</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExercised_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercised">26.15</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Forfeited</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl2054">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExpired_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl2056">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Expired</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_c20200701__20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Expired"><span style="-sec-ix-hidden: xdx2ixbrl2058">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceForfeited_c20200701__20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="-sec-ix-hidden: xdx2ixbrl2060">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Outstanding at June 30, 2021</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20200701__20210630_zUi2wA7mVNkl" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Outstanding, Ending balance">121,329</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iE_c20200701__20210630_zC3AomBZmAta" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance">179.63</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Exercisable at June 30, 2021</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_c20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Exercisable, Ending balance">76,955</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisable_c20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Exercisable, Ending balance">283.21</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Outstanding and Exercisable:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Weighted average remaining contractual term</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20200701__20210630_z78SFcSuOfvh" title="Weighted average remaining contractual term">1.77</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Aggregate intrinsic value</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_985_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsEquityInstrumentsAggregateIntrinsicValueOutstanding_c20210630_pp0p0" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Aggregate intrinsic value"><span style="-sec-ix-hidden: xdx2ixbrl2072">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zOMK2q9HwKck" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In connection with the issuance of the August 2019 Auctus Note, the Company issued common stock purchase warrants to Auctus to purchase <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20190831__us-gaap--StatementEquityComponentsAxis__custom--FirstWarrantMember_pdd" title="Warrants to purchase common stock">450</span> shares of the Company’s common stock (the “First Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such First Warrant at an “Exercise Price” of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20190831__us-gaap--StatementEquityComponentsAxis__custom--FirstWarrantMember_pdd" title="Warrant exercise price">2,250</span>. In connection with the issuance of the Note, the Company shall issue a common stock purchase warrant to Buyer to purchase <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20190831__us-gaap--StatementEquityComponentsAxis__custom--SecondWarrantMember_pdd" title="Warrants to purchase common stock">300</span> shares of the Company’s common stock (the “Second Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such Second Warrant at an “Exercise Price” of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20190831__us-gaap--StatementEquityComponentsAxis__custom--SecondWarrantMember_pdd" title="Warrant exercise price">3,330</span>. In connection with the issuance of the Note, the Company shall issue a common stock purchase warrant to Buyer to purchase <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20190831__us-gaap--StatementEquityComponentsAxis__custom--ThirdWarrantMember_pdd" title="Warrants to purchase common stock">225</span> shares of the Company’s common stock (the “Third Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such Third Warrant at an “Exercise Price” of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20190831__us-gaap--StatementEquityComponentsAxis__custom--ThirdWarrantMember_pdd" title="Warrant exercise price">4,500</span>. The First Warrant, Second Warrant, and Third Warrant shall collectively be referred as the “Warrants”. The Warrants have an “Exercise Period” of five years from the date of issuance being August 30, 2019 (see Note 6).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On September 10, 2019, the Company entered into an agreement with a certain consultant to provide services over a three-month period beginning September 10, 2019 and ending December 10, 2019 in exchange for <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20190910_pdd" title="Warrants to purchase common stock">1,000</span> warrants to purchase the Company’s common stock at $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20190910_pdd" title="Warrant exercise price">2,000</span> per share with an expiry date of <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_dd_c20190910_zuOh6KYpd9vg" title="Warrant expiration date">September 10, 2022</span>. The Fair Market Value of the warrants was $<span id="xdx_90B_eus-gaap--FairValueAdjustmentOfWarrants_c20190909__20190910_pp0p0" title="Fair value of warrants">984,810</span> on the date of grant as calculated under the Black Scholes Option Pricing model. The Company recorded $<span id="xdx_90B_eus-gaap--ShareBasedCompensation_pp0p0_c20190701__20200630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zjQlvPqlLwl" title="Share based compensation">984,810</span> of share-based compensation expenses with respect to the grant of such warrants during the year ended June 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In connection with the issuance of shares on April 3, 2020 as discussed above, <span id="xdx_90C_ecustom--EquityPurchaseAgreementDescription_c20200402__20200403__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember" title="Equity purchase agreement description">the Company closed on a transaction related to a Securities Purchase Agreement (the “Securities Purchase Agreement”) entered into on March 30, 2020, whereby an investor purchased from the Company, 7,500 units, each consisting of (i) 1.5 shares of the Company’s common stock, or pre-funded warrants upon Investor’s election due to the 4.99% blocker provision and (ii) 1.5 warrants to purchase one share of Common Stock (“Series A Warrants”, and collectively with the Common Stock the “Units”)</span>. In addition to the Units, the Investor was issued <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_pdd" title="Warrants to purchase common stock">63,750</span> warrants to purchase one share of Common Stock (the “Series B Warrants”) and an additional <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesCWarrantsMember_pdd" title="Warrants to purchase common stock">63,750</span> warrants to purchase one share of Common Stock, subject to a vesting schedule (the “Series C Warrants” and, together with the Prefunded Warrants, the Series A Warrants, and the Series B Warrants, the “Warrants”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Due to the Beneficial Ownership Limitation, the Company granted <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_pdd" title="Warrants to purchase common stock">10,445</span> Prefunded Warrants with exercise price of $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20200403__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--PrefundedWarrantsMember_pdd" title="Warrant exercise price">0.10</span> (but can be less than par value). The Prefunded Warrants shall be exercisable immediately and shall expire when exercised in full.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i><span style="text-decoration: underline">Series A Warrants</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Pursuant to the Securities Purchase Agreement entered into March 20, 2020 as discussed above, the Investor purchased Series A Warrants to purchase up to <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_pdd">11,250 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">shares of Common Stock, subject to adjustment as provided therein. The Series A Warrants have a cash exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_znZkfKlQtxk1">200 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">per share and are immediately exercisable and expire in <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zl1crbhLsald">3 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">years. The Series A Warrants contain a provision for cashless exercise in the event there is no effective registration statement registering the shares underlying the Series A Warrants calculated based on the difference between the exercise price of the Series A Warrant and the trading price of the stock (the “Cashless Exercise”).Additionally, the Series A Warrants contain a provision for a cashless conversion at the Holder’s option should the trading price of the Common Stock fall below $200 per share calculated based on the difference between the exercise price of the Series A Warrant and 70% of the Market Price, as defined therein (the” Alternate Cashless Exercise”). See above “Shares issued for exercise of warrants” for discussion of deemed dividend related to alternate cashless exercise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i><span style="text-decoration: underline">Series B Warrants</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Pursuant to the Securities Purchase Agreement entered into March 20, 2020 as discussed above, the Investor purchased Series B Warrants to purchase up to <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_pdd" title="Warrants to purchase common stock">63,750</span> shares of Common Stock, subject to adjustment as provided therein; provided, however, commencing on the 90th day following the effective date, the Company may reduce the number of Warrant Shares issuable upon exercise thereof by <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20200319__20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_pdd" title="Warrants exercisable">37,500</span> upon <span id="xdx_900_eus-gaap--DebtInstrumentConvertibleThresholdTradingDays_uInteger_c20200319__20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zDspqr2NeLf9" title="Trading days">10</span> Trading Days’ prior written notice to the Holder provided that the Company issues to the Holder <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200319__20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember__srt--TitleOfIndividualAxis__custom--HolderMember_pdd" title="Common stock issued during period">3,750</span> shares of Common Stock (or, at the election of the Holder, an equivalent number of pre-funded warrants) and Series A Warrants to purchase up to <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_pdd" title="Warrants to purchase common stock">3,750</span> shares of Common Stock, which shares shall be issued pursuant to a registration statement without restrictions on resale. The Series B Warrants have a cash exercise price of $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_pdd" title="Warrant exercise price">40</span> per share and expire in <span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_zN926UaWdVDf" title="Warrants expiration period">3</span> years. The Series B Warrants contain a provision for Cashless Exercise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i><span style="text-decoration: underline">Series C Warrants</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Pursuant to the Securities Purchase Agreement entered into March 20, 2020 as discussed above, the Investor purchased Series C Warrants to purchase up to <span id="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesCWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_pdd" title="Warrants to purchase common stock">63,750</span> shares of Common Stock, subject to adjustment as provided therein and expire in <span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesCWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_z69UHKqI2kwd" title="Warrants expiration period">3</span> years. The Series C Warrants have a cash exercise price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20200320__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesCWarrantsMember__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_pdd" title="Warrant exercise price">200</span> per share, subject to a vesting schedule, which is based on such Holder’s exercise of the Series B Warrants (warrants shall be exercisable ratably upon exercise of Series B Warrants). The Series C Warrants contain provisions for Cashless Exercise and Alternate Cashless Exercise.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Exercise of Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">During the year ended June 30, 2021, the Company received aggregate gross proceeds of $<span id="xdx_904_eus-gaap--ProceedsFromWarrantExercises_pp0p0_c20200701__20210630_z2lmrQItX9F7" title="Proceeds from warrants exercise">776,044</span> from the exercise of <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20210630__us-gaap--StatementClassOfStockAxis__custom--PrefundedWarrantsMember_zS4wx0bIvvIk" title="Warrants exercised">10,445</span> prefunded warrants and <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20210630__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_zE8DxnoN1jSj" title="Warrants exercised">19,375</span> Series B Warrants resulting in the issuance of <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200701__20210630__us-gaap--StatementClassOfStockAxis__custom--PrefundedWarrantsMember_ziuvGbTAgpK" title="Stock issued during period">29,820</span> shares of common stock. Additionally, the Company issued <span id="xdx_90F_eus-gaap--CommonStockSharesIssued_iI_c20210630__us-gaap--StatementClassOfStockAxis__custom--TwentySeriesAAndOneSeriesCWarrantsMember_zfRYfFir6jVa" title="Common stock, shares issued">4,199,979</span> shares of common stock from the alternate cashless exercise of 20 Series A and 1 Series C warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></p> 100000000 1000000000 one-for-one thousand (1:1,000) 1500005 0.01 500000 500000 500000 500000 500000 the Company closed on a transaction related to a Securities Purchase Agreement (the “Securities Purchase Agreement”) entered into on March 30, 2020, whereby an investor (the “Investor”) purchased from the Company, 7,500 units (the “Units”), each consisting of (i) 1.5 shares of the Company’s common stock (the “Common Stock”), or pre-funded warrants (the “Prefunded Warrants”) upon Investor’s election due to the 4.99% blocker provision as discussed below and (ii) 1.5 warrants to purchase one share of Common Stock (“Series A Warrants”, and collectively with the Common Stock the “Units”). 63750 63750 200 40 200 450000 424990 25010 0.0499 11250 804 10446 1 247619 7 2 910 1814336 15000 2125174 254500 15408 565746 295838 362961 874924 8786113 0.13 0.03 2.00 1018867 103321 16500 1239075 24427 19600 416 11785 31801 95000 3000 178368 80368 130975 590504 197308116 20 1990 39800 39800 8709 8709 8709 8709 8 8 73842 73842 73842 225037 225037 0.30 67511 67511 580609 580609 580609 580609 0.10 0.10 58061 58061 58061 776044 10445 19375 29820 4199979 -391749 78 39 117 4250 497240 0 217543 248620 59 248620 248620 <p id="xdx_893_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zJAtVHqv7Tac" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">A summary of the Company’s option activity during the years ended June 30, 2021 and 2020 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8B4_z1neiiLP5lU5" style="display: none">SCHEDULE OF STOCK OPTION ACTIVITY</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">Number of</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">Weighted Average</td><td style="color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Options</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Price Per Share</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; color: Black">Outstanding at June 30, 2019</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20190701__20200630_zCvoi2Biml0j" style="width: 16%; color: Black; text-align: right" title="Number of Shares, Outstanding, Beginning balance">60</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20190701__20200630_z4nKrz61JCxb" style="width: 16%; color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Beginning balance">76,370</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Issued</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Number of Shares, Issued"><span style="-sec-ix-hidden: xdx2ixbrl1968">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsIssuedInPeriodWeightedAverageExercisePrice_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Issued"><span style="-sec-ix-hidden: xdx2ixbrl1970">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Exercised</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Number of Shares, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1972">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1974">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Expired</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20190701__20200630_zCAdRgPTA2gj" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Expired"><span style="-sec-ix-hidden: xdx2ixbrl1976">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20190701__20200630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="-sec-ix-hidden: xdx2ixbrl1978">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Outstanding at June 30, 2020</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20200701__20210630_zs4OGeOEO8Zg" style="color: Black; text-align: right" title="Number of Shares, Outstanding, Ending balance">60</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20200701__20210630_zpvCzXKi2RAi" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance">76,370</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Issued</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Issued"><span style="-sec-ix-hidden: xdx2ixbrl1984">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsIssuedInPeriodWeightedAverageExercisePrice_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Issued"><span style="-sec-ix-hidden: xdx2ixbrl1986">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Exercised</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1988">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl1990">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Expired</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_iN_di_c20200701__20210630_z26oJD3Z7ylb" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Expired">(1</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left">)</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20200701__20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Expired">3,750,000</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Outstanding at June 30, 2021</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20200701__20210630_z8aMmHSwGSKd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Outstanding, Ending balance">59</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20200701__20210630_zrYBXYu3bVe4" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance">13,730</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Exercisable at June 30, 2021</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Exercisable, Ending balance">40</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_c20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercisable, Ending balance">18,193</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Outstanding and Exercisable:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Weighted average remaining contractual term</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20200701__20210630_zQiV9nk5dTk" title="Weighted average remaining contractual term">7.86</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Weighted average fair value of options granted during the period</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right"><span id="xdx_905_ecustom--WeightedAverageFairValueOfOptionsGrantedDuringPeriod_d0_c20200701__20210630_zcXnUFEhxcJ4" title="Weighted average fair value of options granted during the period"><span style="-sec-ix-hidden: xdx2ixbrl2006">-</span></span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Aggregate intrinsic value</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_c20210630_pp0p0" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Aggregate intrinsic value"><span style="-sec-ix-hidden: xdx2ixbrl2008">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> 60 76370 60 76370 1 3750000 59 13730 40 18193 P7Y10M9D 234 82872 82873 72514 P0Y10M13D 0 0 <p id="xdx_89C_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zCK2SPds7WP5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The following table summarizes warrant activity for the years ended June 30, 2021 and 2020:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span id="xdx_8BA_zlOH3PPBkAE3" style="display: none">SCHEDULE OF WARRANT ACTIVITY</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">Number of</td><td style="color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold"> </td> <td colspan="2" style="color: Black; font-weight: bold; text-align: center">Weighted Average</td><td style="color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="color: Black"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td><td style="color: Black; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; color: Black; font-weight: bold; text-align: center">Price Per Share</td><td style="padding-bottom: 1.5pt; color: Black; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Outstanding at June 30, 2019</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20190701__20200630_zqxqy7ojzqB3" style="color: Black; text-align: right" title="Number of Shares, Outstanding, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl2022">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iS_c20190701__20200630_zfVXsuFda5Lf" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl2024">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; color: Black">Issued</td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssued_c20190701__20200630_pdd" style="width: 16%; color: Black; text-align: right" title="Number of Shares, Issued">151,170</td><td style="width: 1%; color: Black; text-align: left"> </td><td style="width: 2%; color: Black"> </td> <td style="width: 1%; color: Black; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceIssued_c20190701__20200630_pdd" style="width: 16%; color: Black; text-align: right" title="Weighted Average Price Per Share, Issued">150.00</td><td style="width: 1%; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Exercised</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20190701__20200630_z6phSP3ACjjb" style="color: Black; text-align: right" title="Number of Shares, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl2030">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExercised_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="-sec-ix-hidden: xdx2ixbrl2032">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Forfeited</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Number of Shares, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl2034">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExpired_c20190701__20200630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl2036">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Expired</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_c20190701__20200630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Expired"><span style="-sec-ix-hidden: xdx2ixbrl2038">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceForfeited_c20190701__20200630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="-sec-ix-hidden: xdx2ixbrl2040">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Outstanding at June 30, 2020</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20200701__20210630_zNSUObxM0a33" style="color: Black; text-align: right" title="Number of Shares, Outstanding, Ending balance">151,170</td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left">$</td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iS_c20200701__20210630_zsBKJYDHT2Ae" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance">150.00</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Issued</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssued_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Issued"><span style="-sec-ix-hidden: xdx2ixbrl2046">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceIssued_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Issued"><span style="-sec-ix-hidden: xdx2ixbrl2048">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black">Exercised</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20200701__20210630_z3OKGyW1DQB8" style="color: Black; text-align: right" title="Number of Shares, Exercised">(29,841</td><td style="color: Black; text-align: left">)</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExercised_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Exercised">26.15</td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black">Forfeited</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Number of Shares, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl2054">-</span></td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExpired_c20200701__20210630_pdd" style="color: Black; text-align: right" title="Weighted Average Price Per Share, Forfeited"><span style="-sec-ix-hidden: xdx2ixbrl2056">-</span></td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Expired</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_c20200701__20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Expired"><span style="-sec-ix-hidden: xdx2ixbrl2058">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceForfeited_c20200701__20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="-sec-ix-hidden: xdx2ixbrl2060">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Outstanding at June 30, 2021</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20200701__20210630_zUi2wA7mVNkl" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Outstanding, Ending balance">121,329</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iE_c20200701__20210630_zC3AomBZmAta" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance">179.63</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Exercisable at June 30, 2021</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_c20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Number of Shares, Exercisable, Ending balance">76,955</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisable_c20210630_pdd" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Weighted Average Price Per Share, Exercisable, Ending balance">283.21</td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; text-align: left">Outstanding and Exercisable:</td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td><td style="color: Black"> </td> <td style="color: Black; text-align: left"> </td><td style="color: Black; text-align: right"> </td><td style="color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: Black; padding-bottom: 1.5pt">Weighted average remaining contractual term</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; color: Black; text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20200701__20210630_z78SFcSuOfvh" title="Weighted average remaining contractual term">1.77</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: Black; padding-bottom: 1.5pt">Aggregate intrinsic value</td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; color: Black; text-align: left">$</td><td id="xdx_985_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsEquityInstrumentsAggregateIntrinsicValueOutstanding_c20210630_pp0p0" style="border-bottom: Black 1.5pt solid; color: Black; text-align: right" title="Aggregate intrinsic value"><span style="-sec-ix-hidden: xdx2ixbrl2072">-</span></td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="color: Black; padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: right"> </td><td style="padding-bottom: 1.5pt; color: Black; text-align: left"> </td></tr> </table> 151170 150.00 151170 150.00 29841 26.15 121329 179.63 76955 283.21 P1Y9M7D 450 2250 300 3330 225 4500 1000 2000 2022-09-10 984810 984810 the Company closed on a transaction related to a Securities Purchase Agreement (the “Securities Purchase Agreement”) entered into on March 30, 2020, whereby an investor purchased from the Company, 7,500 units, each consisting of (i) 1.5 shares of the Company’s common stock, or pre-funded warrants upon Investor’s election due to the 4.99% blocker provision and (ii) 1.5 warrants to purchase one share of Common Stock (“Series A Warrants”, and collectively with the Common Stock the “Units”) 63750 63750 10445 0.10 11250 200 P3Y 63750 37500 10 3750 3750 40 P3Y 63750 P3Y 200 776044 10445 19375 29820 4199979 <p id="xdx_806_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zL2iu8rkR7El" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 9 – <span id="xdx_82D_zoKrhnxDRVm6">COMMITMENTS AND CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>Legal Matters</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On September 26, 2019, a complaint was filed against the Company with Supreme Court of the State of New York, County of New York, by Foley Shechter Ablovatskiy LLP (“Foley Shechter”), our former counsel, seeking $<span id="xdx_901_eus-gaap--LegalFees_c20190925__20190926__srt--TitleOfIndividualAxis__custom--FoleyShechterMember_pp0p0">151,031 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">in professional fees allegedly owed, in addition to interest and costs of suit. The Company filed an answer, together with affirmative defenses and counterclaims. Certain amounts related to this claim were included in accounts payable and accrued expenses in the accompanying consolidated financial statements at June 30, 2020. On March 22, 2021, the Company entered into a settlement agreement with Foley Shechter whereby both parties agreed to settle all claims for professional fees owed for a total of $<span id="xdx_907_eus-gaap--ProfessionalFees_c20210320__20210322__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember__srt--TitleOfIndividualAxis__custom--FoleyShechterMember_pp0p0">51,032</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">. The Company paid the settlement amount of $<span id="xdx_90B_ecustom--SettlementAmount_c20210322__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember__srt--TitleOfIndividualAxis__custom--FoleyShechterMember_pp0p0">51,032 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">on March 22, 2021. Prior to the settlement agreement, the Company recorded total accounts payable and accrued expenses $<span id="xdx_909_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0_c20210322__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember__srt--TitleOfIndividualAxis__custom--FoleyShechterMember_zpXBVNIVgbjl">142,660</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">. Accordingly, the Company recognized gain from settlement of debt of <span id="xdx_901_ecustom--GainLossFromSettlementOfDebt_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember__srt--TitleOfIndividualAxis__custom--FoleyShechterMember_pp0p0">$92,556 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">during the year ended June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Regal Consulting, LLC (“Regal”) initiated litigation against the Company in Clark County District Court, Nevada. Regal was demanding approximately $<span id="xdx_906_eus-gaap--LossContingencyDamagesSoughtValue_c20200701__20210630__dei--LegalEntityAxis__custom--RegalConsultingLLCMember_pp0p0" title="Loss contingency amount">400,000</span> and <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20200701__20210630__dei--LegalEntityAxis__custom--RegalConsultingLLCMember_pdd" title="Number of shares issued for services">60</span> shares of the Company’s common stock as payment for services that Regal purports to have performed. Regal additionally claimed that $<span id="xdx_908_eus-gaap--ConvertibleDebt_c20170531__dei--LegalEntityAxis__custom--RegalConsultingLLCMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandAndSeventeenNoteMember_pp0p0" title="Convertible note">106,500</span> remained due on a Convertible Note executed by the Company in May of 2017 and asserted that it was owed in excess of $<span id="xdx_90C_ecustom--LitigationPenaltyAmount_c20170501__20170531__dei--LegalEntityAxis__custom--RegalConsultingLLCMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandAndSeventeenNoteMember_pp0p0" title="Penalty amount">100,000</span> in penalties in connection with the Company’s refusal to honor certain Conversion Notices. The Company filed an Answer and Counterclaim, denying liability and alleging that Regal procured by fraud the Company’s execution of various consulting agreements and additionally failed to provide the consulting services contemplated by said agreements. On December 23, 2020, the parties mediated their dispute and negotiated a settlement agreement. On March 15, 2021, the Company entered into a Settlement and Mutual Release Agreement with Regal whereby both parties agreed to settle all claims and liabilities under the August 10, 2017 Convertible note (see Note 6) for a total of $<span id="xdx_909_eus-gaap--ConvertibleDebt_c20170810__us-gaap--TypeOfArrangementAxis__custom--SettlementAndMutualReleaseAgreementMember__dei--LegalEntityAxis__custom--RegalConsultingLLCMember_pp0p0" title="Convertible note">100,000</span>. All other terms of the August 10, 2017 Convertible Note shall remain in full force and effect. Both parties agree that all future penalties under this convertible note are waived unless the Company fails to authorize the issuance of the requested shares upon conversion. The Company has the right to pay off the balance of any remaining amounts dues under this convertible note in cash at any time 61 days after March 15, 2021. Prior to the Settlement Agreement, the Company recorded total liabilities $<span id="xdx_904_eus-gaap--Liabilities_c20210315__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pp0p0" title="Liabilities">56,762</span> consisting of remaining principal amount of $<span id="xdx_909_ecustom--RemainingPrincipalAmount_c20210315__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pp0p0" title="Remaining principal amount">8,500</span>, accrued interest of $<span id="xdx_90C_eus-gaap--InterestPayableCurrentAndNoncurrent_c20210315__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pp0p0" title="Accrued interest">23,262</span> and accrued expenses of $<span id="xdx_906_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_c20210315__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pp0p0" title="Accrued expenses">25,000</span>. Accordingly, the Company recognized loss from settlement of debt of $<span id="xdx_90A_ecustom--GainLossFromSettlementOfDebt_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_pp0p0" title="Gain loss from settlement of debt">43,238</span> during the year ended June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>IRS Liability</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As part of its requirement for having a foreign operating subsidiary, the Company’s parent U.S. entity is required to file an informational Form 5471 to the Internal Revenue Service (the “IRS”), which is a form that explains the nature of the relationship between the foreign subsidiary and the parent company. From 2012 through the 2014, the Company did not file this form in a timely manner. As a result of the non-timely filings, the Company incurred a penalty from the IRS in the amount of $<span id="xdx_90D_ecustom--LitigationPenaltyAmount_c20200701__20210630__us-gaap--AwardDateAxis__custom--From2012ThroughThe2014Member_pp0p0">10,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">per year, or $<span id="xdx_900_ecustom--LitigationPenaltyAmount_c20200701__20210630_pp0p0">30,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">in total, plus accrued interest, such penalty and interest having been accrued and is included in the accrued expenses and other payable figure in the June 30, 2021 and 2020 consolidated balance sheet. The Company recorded the penalties for all three years during the year ended June 30, 2018. The Company is current on all subsequent filings. The Company’s tax advisor is awaiting a response from the IRS on this matter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>Operating Agreements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In November 2009, the Company entered into a commercialization agreement with the University of Bath (UK) (the “University”) whereby the Company and the University co-owned the intellectual property relating to the Company’s pro-enzyme formulations. In June 2012, the Company and the University entered into an assignment and amendment whereby the Company assumed full ownership of the intellectual property while agreeing to pay royalties of <span id="xdx_903_ecustom--OperatingLeasesIncomeStatementRevenuePercentage_dp_c20120601__20120630__us-gaap--TypeOfArrangementAxis__us-gaap--RoyaltyAgreementTermsMember_ztXEIiIkqski" title="Operating leases income statement revenue percentage">2%</span> of net revenues to the University. Additionally, the Company agreed to pay <span id="xdx_90D_ecustom--OperatingLeasesIncomeStatementRevenuePercentage_dp_c20120601__20120630__us-gaap--TypeOfArrangementAxis__us-gaap--LicenseAgreementTermsMember_z9T7IV0czYM7" title="Operating leases income statement revenue percentage">5%</span> of each and every license agreement subscribed for. The contract is cancellable at any time by either party. To date, no amounts are owed under the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>Operating Leases</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On May 5, 2016, the Company entered into a new <span id="xdx_900_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dtYxL_c20160505__us-gaap--TypeOfArrangementAxis__custom--NewFiveYearOperatingLeaseAgreementMember_z8w18Ofpt9n3" title="::XDX::5"><span style="-sec-ix-hidden: xdx2ixbrl2171">five</span></span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">-year operating lease agreement with a Horizon Pty Ltd., a related party, of which Mr. Nathanielsz, our CEO, CFO and a director, and his wife are owners and directors, with monthly rent currently at $<span id="xdx_90A_eus-gaap--PaymentsForRent_pp0p0_uAUD_c20160503__20160505__us-gaap--TypeOfArrangementAxis__custom--NewFiveYearOperatingLeaseAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_zJAHfK5JtGu7">3,606 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD or $<span id="xdx_906_eus-gaap--PaymentsForRent_c20160503__20160505__us-gaap--TypeOfArrangementAxis__custom--NewFiveYearOperatingLeaseAgreementMember_pp0p0">2,469 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD, inclusive of GST (See Note 10 – Related Party Transactions). <span id="xdx_906_eus-gaap--LesseeOperatingLeaseDescription_c20160503__20160505__us-gaap--TypeOfArrangementAxis__custom--NewFiveYearOperatingLeaseAgreementMember_zUVwnKDgQfVb" title="Operating lease, description">The initial rental amount was $3,000 AUD and subject to 3% yearly escalation.</span></span> <span style="font: 10pt Times New Roman, Times, Serif; color: Black">In adopting ASC Topic 842, Leases (Topic 842), the Company has elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 month or less. On July 1, 2019, upon adoption of ASC Topic 842, the Company recorded right-of-use assets $<span id="xdx_901_eus-gaap--OperatingLeaseRightOfUseAsset_c20190702__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_pp0p0">48,662 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and total lease liabilities of $<span id="xdx_906_eus-gaap--OperatingLeaseLiability_c20190702__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_pp0p0">48,662 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">based on an incremental borrowing rate of <span id="xdx_90F_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20190702__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zF48AVxpN5Kj">6%</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">. <span><span id="xdx_90F_eus-gaap--LesseeOperatingLeaseDescription_c20190701__20190702__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zmrqDZpVZnWa">Such lease expired in May 2021 and was renewed for another one-year term from May 2021 to May 2022</span></span>. The Company is currently obligated to pay $<span id="xdx_90C_eus-gaap--PaymentsForRent_pp0p0_uAUD_c20190701__20190702__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_zFm9VsVr4wvd">3,606</span> AUD or $<span id="xdx_905_eus-gaap--PaymentsForRent_pp0p0_c20190701__20190702__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zMOgPlkTjwcd">2,431</span> USD (depending on exchange rate), inclusive of tax, in rent per month.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_894_ecustom--ScheduleOfRightUseOfAssetTableTextBlock_zGoPydUjdAul" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">ROU is summarized below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8B3_z2t8Ilp9RHCg" style="display: none">SCHEDULE OF RIGHT USE OF ASSET</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_495_20210630_zoufaAcQaxUc" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_49F_20200630_zWOmXQOOY9rc" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr id="xdx_405_ecustom--OperatingLeaseRightOfUseAssets_iI_pp0p0_maOLROUzHPs_zGh3imgPrtSe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Office lease (24 months)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_406_ecustom--AccumulatedReduction_iI_pp0p0_maOLROUzHPs_zapS6yhxmXci" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Less accumulated amortization</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(26,980</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseRightOfUseAsset_iTI_pp0p0_mtOLROUzHPs_zHMqylvljI8d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Right-of-use asset, net</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2191">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">21,682</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A0_zZzvu0PT3Wg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_897_eus-gaap--OperatingLeaseLeaseIncomeTableTextBlock_z19UeNKNN7Qi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Operating Lease liabilities are summarized below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span id="xdx_8B0_ztmPtNJAMDuh" style="display: none">SCHEDULE OF OPERATING LEASE LIABILITY</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_49A_20210630_zNY5EJpe1z73" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_49A_20200630_zWmUsQuR4raf" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr id="xdx_402_ecustom--OfficeLeaseLiability_iI_pp0p0_maOLLzN3P_zkvx3R82HVp5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Office lease</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40A_ecustom--ReductionOfLeaseLiability_iI_pp0p0_maOLLzN3P_zEK3QiecFcNb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Reduction of lease liability</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(23,590</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_iTI_pp0p0_mtOLLzN3P_zKZAcTC4Sz9l" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Long term portion of lease liability</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2202">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">25,072</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A2_zhAaq9TCl825" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>Collaboration Agreement</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On September 13, 2018, the Company entered into a two-year collaboration agreement with the University of Jaén (the “University”) to provide certain research services to the Company. In consideration of such services, the Company agreed to pay the University approximately <span id="xdx_90F_ecustom--PaymentForServices_pp0p0_uEuro_c20180910__20180913__us-gaap--TypeOfArrangementAxis__custom--OneYearCollaborationAgreementMember__us-gaap--AwardTypeAxis__custom--EurosMember_z8Esvlqtq8f7" title="Payment for services">52,000</span> Euros ($<span id="xdx_90D_ecustom--PaymentForServices_c20180910__20180913__us-gaap--TypeOfArrangementAxis__custom--OneYearCollaborationAgreementMember_pp0p0" title="Payment for services">59,508</span> USD) in year one and a maximum of <span id="xdx_90C_ecustom--PaymentForServices_pp0p0_uEuro_c20180910__20180913__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardTypeAxis__custom--EurosMember_zsw8QvfC93n2" title="Payment for services">40,000</span> Euros ($<span id="xdx_907_ecustom--PaymentForServices_c20180910__20180913__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember_pp0p0" title="Payment for services">45,775</span> USD) in year two. The Company paid <span id="xdx_90C_ecustom--PaymentForServices_pp0p0_uEuro_c20180701__20190630__us-gaap--AwardTypeAxis__custom--EurosMember_zRObpNRVjqDb" title="Payment for services">31,754</span> Euros ($<span id="xdx_903_ecustom--PaymentForServices_c20180701__20190630_pp0p0" title="Payment for services">36,117</span> USD) in 2019 and has accrued <span id="xdx_90E_ecustom--PaymentForServices_pp0p0_uEuro_c20200701__20210630__us-gaap--AwardTypeAxis__custom--EurosMember_zZtt5T9DIDr8" title="Payment for services">28,493</span> Euros ($<span id="xdx_904_ecustom--PaymentForServices_c20200701__20210630_pp0p0" title="Payment for services">24,043</span> USD) as of June 30, 2021. Additionally, in exchange for full ownership of the intellectual property the Company agreed to pay royalties of <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20180910__20180913__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--RevenueFromRightsConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_z7mggHXKVhrc" title="Royalties percentage">2%</span> of net revenues to the University. On October 1, 2020, the Company entered into another two-year collaboration agreement with the University of Jaén to provide certain research services to the Company. In consideration of such services, the Company agreed to pay the University approximately <span id="xdx_90E_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardTypeAxis__custom--EurosMember_ztP48PuuYROl" title="Payment for services">30,000</span> Euros ($<span id="xdx_904_ecustom--PaymentForServices_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember_pp0p0" title="Payment for services">35,145</span> USD) which shall be paid in four installment payment of <span id="xdx_904_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardTypeAxis__custom--EurosMember__us-gaap--AwardDateAxis__custom--InstallmentOneMember_zE1rMSMFgGAk" title="Payment for services">5,000</span> Euros in November 2020, <span id="xdx_90F_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentTwoMember__us-gaap--AwardTypeAxis__custom--EurosMember_ztKvwPExcYt2" title="Payment for services">5,000</span> Euros ($<span id="xdx_906_ecustom--PaymentForServices_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentTwoMember_pp0p0" title="Payment for services">5,858</span>) in March 2021, <span id="xdx_908_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentThreeMember__us-gaap--AwardTypeAxis__custom--EurosMember_zxu4BWFl0ja" title="Payment for services">10,000</span> Euros ($<span id="xdx_909_ecustom--PaymentForServices_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentThreeMember_pp0p0" title="Payment for services">11,715</span>) in December 2021 and <span id="xdx_902_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentFourMember__us-gaap--AwardTypeAxis__custom--EurosMember_z8iModjJQVl" title="Payment for services">10,000</span> Euros ($<span id="xdx_900_ecustom--PaymentForServices_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentFourMember_pp0p0" title="Payment for services">11,715</span>) in September 2022. Additionally, the University shall hire and train a doctoral student for this project and as such the Company shall pay the University <span id="xdx_909_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__dei--LegalEntityAxis__custom--UniversityOfJaenMember__us-gaap--AwardTypeAxis__custom--EurosMember_zktznTOCKlk2" title="Payment for services">25,837</span> Euros ($<span id="xdx_900_ecustom--PaymentForServices_c20200929__20201002__dei--LegalEntityAxis__custom--UniversityOfJaenMember_pp0p0" title="Payment for services">30,268</span> USD). In exchange for full ownership of the intellectual property the Company agreed to pay royalties of <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20200929__20201002__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__dei--LegalEntityAxis__custom--UniversityOfJaenMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--RevenueFromRightsConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_z4ZzunSRlP18" title="Royalties percentage">2%</span> of net revenues to the University.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 151031 51032 51032 142660 92556 400000 60 106500 100000 100000 56762 8500 23262 25000 43238 10000 30000 0.02 0.05 3606 2469 The initial rental amount was $3,000 AUD and subject to 3% yearly escalation. 48662 48662 0.06 Such lease expired in May 2021 and was renewed for another one-year term from May 2021 to May 2022 3606 2431 <p id="xdx_894_ecustom--ScheduleOfRightUseOfAssetTableTextBlock_zGoPydUjdAul" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">ROU is summarized below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8B3_z2t8Ilp9RHCg" style="display: none">SCHEDULE OF RIGHT USE OF ASSET</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_495_20210630_zoufaAcQaxUc" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_49F_20200630_zWOmXQOOY9rc" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr id="xdx_405_ecustom--OperatingLeaseRightOfUseAssets_iI_pp0p0_maOLROUzHPs_zGh3imgPrtSe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Office lease (24 months)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_406_ecustom--AccumulatedReduction_iI_pp0p0_maOLROUzHPs_zapS6yhxmXci" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Less accumulated amortization</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(26,980</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseRightOfUseAsset_iTI_pp0p0_mtOLROUzHPs_zHMqylvljI8d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Right-of-use asset, net</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2191">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">21,682</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 48662 48662 -48662 -26980 21682 <p id="xdx_897_eus-gaap--OperatingLeaseLeaseIncomeTableTextBlock_z19UeNKNN7Qi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Operating Lease liabilities are summarized below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span id="xdx_8B0_ztmPtNJAMDuh" style="display: none">SCHEDULE OF OPERATING LEASE LIABILITY</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_49A_20210630_zNY5EJpe1z73" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" id="xdx_49A_20200630_zWmUsQuR4raf" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr id="xdx_402_ecustom--OfficeLeaseLiability_iI_pp0p0_maOLLzN3P_zkvx3R82HVp5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Office lease</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr id="xdx_40A_ecustom--ReductionOfLeaseLiability_iI_pp0p0_maOLLzN3P_zEK3QiecFcNb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Reduction of lease liability</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(48,662</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(23,590</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_iTI_pp0p0_mtOLLzN3P_zKZAcTC4Sz9l" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Long term portion of lease liability</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2202">-</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">25,072</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 48662 48662 -48662 -23590 25072 52000 59508 40000 45775 31754 36117 28493 24043 0.02 30000 35145 5000 5000 5858 10000 11715 10000 11715 25837 30268 0.02 <p id="xdx_806_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zzD8WGT4aV38" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 10 – <span id="xdx_82F_zkTUa11D0wZ">RELATED PARTY TRANSACTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Since its inception, the Company has conducted transactions with its directors and entities related to such directors. These transactions have included the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the Company owed its former director a total of $<span id="xdx_90F_ecustom--LoansFromRelatedParty_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CurrentAndFormerDirectorMember_pp0p0" title="Loans from related party">55,500</span> and $<span id="xdx_90E_ecustom--LoansFromRelatedParty_c20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CurrentAndFormerDirectorMember_pp0p0" title="Loans from related party">50,993</span>, respectively, for money loaned to the Company throughout the years. The total loans balance owed at June 30, 2021 and 2020 is not interest bearing (See Note 5 – Loans and Notes Payable).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the Company owed its former director a total of $<span id="xdx_90B_eus-gaap--DueToRelatedPartiesCurrent_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FormerDirectorMember_pp0p0" title="Due to related parties">33,347</span> and $<span id="xdx_90A_eus-gaap--DueToRelatedPartiesCurrent_c20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FormerDirectorMember_pp0p0" title="Due to related parties">30,639</span>, respectively, related to expenses paid on behalf of the Company related to corporate startup costs and intellectual property (See Note 4 – Due to Former Director – Related Party).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective May 5, 2016, the Company entered into an agreement for the lease of its principal executive offices with North Horizon Pty Ltd., a related party, of which Mr. Nathanielsz, our CEO, CFO and a director, and his wife are owners and directors. The lease has a <span id="xdx_900_eus-gaap--LessorOperatingLeaseTermOfContract_iI_dtYxL_c20160505__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember_zcSkroEftsR" title="::XDX::5"><span style="-sec-ix-hidden: xdx2ixbrl2256">five</span></span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">-year term and provides for annual rental payments of $<span id="xdx_900_eus-gaap--OperatingLeasesRentExpenseMinimumRentals_pp0p0_uAUD_c20160503__20160505__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_ziyfUdJ6SMsc">39,600 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD or $<span id="xdx_909_eus-gaap--OperatingLeasesRentExpenseMinimumRentals_c20160503__20160505__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember_pp0p0">28,325 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD, which includes $<span id="xdx_90F_ecustom--GoodsAndServiceTax_pp0p0_uAUD_c20160503__20160505__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_zYv6xR0CPQ09">3,600 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD or $<span id="xdx_904_ecustom--GoodsAndServiceTax_c20160503__20160505__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember_pp0p0">2,575 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD of goods and service tax for total payments of $<span id="xdx_90E_eus-gaap--OperatingLeasesFutureMinimumPaymentsDue_iI_pp0p0_uAUD_c20160505__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NathanielszMember_zHUUCd1ACDlc">198,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD or $<span id="xdx_908_eus-gaap--OperatingLeasesFutureMinimumPaymentsDue_c20160505__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NathanielszMember_pp0p0">141,629 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD during the term of the lease. As of June 30, 2021, total rent payable of $<span id="xdx_90C_eus-gaap--PaymentsForRent_pp0p0_uAUD_c20200701__20210630__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zrnorhVlpEih">86,129 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_907_eus-gaap--PaymentsForRent_c20200701__20210630__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember_pp0p0">64,597 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) is included in accrued expenses in the accompanying consolidated balance sheet. <span><span id="xdx_90F_eus-gaap--LesseeOperatingLeaseDescription_c20190701__20190702__us-gaap--AdjustmentsForNewAccountingPronouncementsAxis__us-gaap--AccountingStandardsUpdate201602Member_zGJRpruMJUSi">Such lease expired in May 2021 and was renewed for another one-year term from May 2021 to May 2022</span></span> (See Note 9 – Commitments and Contingencies).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Employment and Services Agreements with Management</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company and Mr. Nathanielsz entered into an employment agreement as of February 25, 2015 (the “Nathanielsz Employment Agreement”) setting forth the terms and conditions of Mr. Nathanielsz employment as the Company’s President and Chief Executive Officer. The Nathanielsz Employment Agreement was scheduled to expire on <span id="xdx_904_eus-gaap--RelatedPartyTransactionDate_dd_c20150224__20150225__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember_zL101soAiIPb" title="Expired date">February 25, 2019</span>; however, the term of the Nathanielsz Employment Agreement automatically renews for successive one-year periods unless either party provides 30 days’ prior written notice of its intent not to renew. The Nathanielsz Employment Agreement continues in effect as of June 30, 2021 as amended May 14, 2019 (see below). The Nathanielsz Employment Agreement provides Mr. Nathanielsz with a base salary of $<span id="xdx_909_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20150224__20150225__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zYoqbdpF6Lj8" title="Annual salary">25,000</span> AUD per month ($<span id="xdx_901_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zR0jkp8oaqU5" title="Annual salary">300,000</span> AUD annually or $<span id="xdx_90F_eus-gaap--SalariesAndWages_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember_pp0p0" title="Annual salary">205,680</span> USD) and a monthly contribution to Mr. Nathanielsz’s pension equal to <span id="xdx_904_ecustom--PercentageOfPensionOfMonthlySalary_dp_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember_zc3W4JZ4V5g6" title="Percentage of pension of monthly salary">9.5%</span> of his monthly salary. Mr. Nathanielsz has the ability to convert any accrued but unpaid salary into common stock at the end of each fiscal year at a conversion price to be determined by Mr. Nathanielsz and the Company, which will in no event be lower than par value or higher than the closing bid price on the date of conversion. Pursuant to the Nathanielsz Employment Agreement, Mr. Nathanielsz is entitled to an annual discretionary bonus in an amount up to <span id="xdx_90A_ecustom--PercentageOfBonusOfAnnualBaseSalary_dp_uPure_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember_zRkqX1Xzgqc8" title="Percentage of bonus of annual base salary">200%</span> of his annual base salary, which bonus shall be determined by the Company’s board of directors based upon the performance of the Company. On March 16, 2018, the Company’s board of directors approved an increase of Mr. Nathanielsz’s annual base salary from $<span id="xdx_90F_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20180315__20180316__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember__srt--RangeAxis__srt--MinimumMember_zfz7g8ilDkHa" title="Annual salary">300,000</span> AUD ($<span id="xdx_902_eus-gaap--SalariesAndWages_c20180315__20180316__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__srt--RangeAxis__srt--MinimumMember_pp0p0" title="Annual salary">205,680</span> USD) to $<span id="xdx_902_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20180315__20180316__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember__srt--RangeAxis__srt--MaximumMember_zlk1mxratRg4" title="Annual salary">400,000</span> AUD ($<span id="xdx_900_eus-gaap--SalariesAndWages_c20180315__20180316__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__srt--RangeAxis__srt--MaximumMember_pp0p0" title="Annual salary">274,240</span> USD), effective February 2018.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Mr. Nathanielsz’s wife, Sylvia Nathanielsz, is and has been a non-executive part-time employee of the Company since October 2015. Effective February 1, 2018, Mrs. Nathanielsz receives an annual salary of $<span id="xdx_905_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20180128__20180201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_zHixLQFUIPr7" title="Annual salary">120,000</span> AUD ($<span id="xdx_90A_eus-gaap--SalariesAndWages_c20180128__20180201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember_pp0p0" title="Annual salary">80,904</span> USD) and is entitled to customary benefits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Pursuant to a February 25, 2016 board resolution, James Nathanielsz shall be paid $<span id="xdx_900_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20160224__20160225__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JamesNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zsc5Uu3BkKMi" title="Payments form related party">4,481</span> AUD ($<span id="xdx_90F_eus-gaap--RepaymentsOfRelatedPartyDebt_c20160224__20160225__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JamesNathanielszMember_pp0p0" title="Payments form related party">3,205</span> USD), on a monthly basis for the purpose of acquiring and maintaining an automobile. For the year ended June 30, 2020, a total of $<span id="xdx_909_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20190701__20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_z0vnOVOV1umh" title="Payments form related party">44,918</span> AUD ($<span id="xdx_906_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_c20190701__20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember_zuqdo4grtdkc" title="Payments form related party">30,284</span> USD) in payments have been made with respect to Mr. Nathanielsz’s car allowance. For the year ended June 30, 2021, a total of $<span id="xdx_90A_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20200701__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zQuyUSmDfHdd" title="Payments form related party">46,135</span> AUD ($<span id="xdx_90F_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_c20200701__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember_zsJx3gWyphf7" title="Payments form related party">34,476</span> USD) in payments have been made with respect to Mr. Nathanielsz’s car allowance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Pursuant to the approval of the Company’s board of directors, on May 14, 2019, Mr. Nathanielsz was granted a $<span id="xdx_90D_eus-gaap--OfficersCompensation_pp0p0_uAUD_c20190513__20190514__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zhr5r6niZC3i">460,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_907_eus-gaap--OfficersCompensation_c20190513__20190514__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember_pp0p0">315,376 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) bonus for accomplishments achieved while serving as the Company’s Chief Executive Officer during the fiscal year ended June 30, 2019 with $<span id="xdx_908_ecustom--BonusPayableAmount_pp0p0_uAUD_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zrUcMs0KvEzg">200,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_90D_ecustom--BonusPayableAmount_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_pp0p0">137,120 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) of such bonus payable by the Corporation to the CEO throughout the Corporation’s 2019 fiscal year as the Corporation’s cash resources allow, with the remaining $<span id="xdx_900_ecustom--RemainingBonusAmount_pp0p0_uAUD_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zopoISWozugl">260,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_90C_ecustom--RemainingBonusAmount_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_pp0p0">178,256 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) of such bonus to be deferred by the CEO until a future date when the Corporation’s cash resources allow for such payment, as agreed to by the CEO. A total of $<span id="xdx_900_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zJKyJ7nmmqnb">90,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_909_eus-gaap--RepaymentsOfRelatedPartyDebt_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_pp0p0">64,377 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) in payments were made in the year ended June 30, 2019. On July 13, 2020, the Board approved a bonus of $<span id="xdx_90C_eus-gaap--OfficersCompensation_pp0p0_uAUD_c20200712__20200713__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zAfbIS2TyxH4">240,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD being equal to <span id="xdx_908_ecustom--BonusAwardsGrantedPercentage_dp_c20200712__20200713__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zCFbwsynHeB5">60% </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">of Mr. Nathanielsz base salary which was accrued as of June 30, 2020. A total of $<span id="xdx_908_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20190701__20200630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zHe68DZ7ogVa">202,620 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_900_eus-gaap--RepaymentsOfRelatedPartyDebt_c20190701__20200630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_pp0p0">136,606 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) in payments were made against the bonuses during the year ended June 30, 2020 which resulted to a remaining balance of $<span id="xdx_906_ecustom--BonusPayable_pp0p0_uAUD_c20190701__20200630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_z6cjrBUkSy06">407,380 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_907_ecustom--BonusPayable_c20190701__20200630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_pp0p0">280,726 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) bonus payable as of June 30, 2020. On August 12, 2021, the Board approved a bonus of $<span id="xdx_903_eus-gaap--OfficersCompensation_pp0p0_c20210811__20210812__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTR9d7GO44Ca">177,840 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD. A total of $<span id="xdx_90E_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20200701__20210630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zIK7GAubQko">221,890 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_90D_ecustom--BonusPayable_c20200701__20210630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_pp0p0">166,418 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) in payments were made against the bonuses during the year ended June 30, 2021 resulting in a remaining balance of $<span id="xdx_90D_ecustom--BonusPayable_pp0p0_uAUD_c20200701__20210630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zzKb2zutJYC5">422,610 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">AUD ($<span id="xdx_904_ecustom--BonusPayable_pp0p0_c20200701__20210630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--TypeOfArrangementAxis__custom--MrsNathanielszMember_zw75G6lgrDWj">316,957 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">USD) bonus payable as of June 30, 2021 which is included in accrued expenses in the accompanying consolidated balance sheet. On August 12, 2021, pursuant to the Cancellation Agreement, Mr. Nathanielsz agreed to cancel $<span id="xdx_904_eus-gaap--OfficersCompensation_c20210811__20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember_zBqGulXqxETg" title="Officers' compensation">177,840</span> of the bonus payable in exchange for <span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pip0_c20210811__20210812__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember_z0ShY2CLgpfi">5,928,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">shares of the common stock of the Company (see Note 13).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Amended and Restated Employment Agreement - On May 14, 2019 (the “Effective Date”), the Company entered into an Amended and Restated Employment Agreement (the “Employment Agreement”) with James Nathanielsz, the Company’s Chief Executive Officer, Chairman, acting Chief Financial Officer and a director, for a term of <span id="xdx_90B_ecustom--AgreementlTerm_dc_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zeNs9QNayR5c" title="Agreement term">three years</span>, subject to automatic <span id="xdx_909_ecustom--AgreementRenewalTerm_dtYxL_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zyg0gxBXOGIa" title="Agreement renewal term::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl2327">one</span></span>-year renewals, at an annual salary of $<span id="xdx_908_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zRCs20QOpIYd" title="Annual salary">400,000</span> AUD. Pursuant to the Employment Agreement, Mr. Nathanielsz was granted options to purchase <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_pdd" title="Option purchase shares">39</span> shares of the Company’s common stock (the “Nathanielsz Options”), with an exercise price per share of $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_pdd" title="Exercise price">4,675</span> (<span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent_dp_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zEGYArsbBKx2" title="Market price">110%</span> of the closing market price of the Company’s common stock on May 14, 2019 (or $<span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_pdd" title="Granted exercise price">4,250</span>), the date of approval of such grant by the Company’s board of directors), (ii) <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--RestrictedStocksUnitsRSUMember_pdd" title="Restricted stock shares of common stock">39</span> restricted stock units of the Company (the “Initial Nathanielsz RSUs”), and (iii) an additional <span id="xdx_90C_ecustom--StockToBeIssuedDuringPeriodValueRestrictedStockUnit_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_pdd" title="Restricted stock unit issuable">39</span> restricted stock units of the Company (the “Additional Nathanielsz RSUs”). Such options and restricted stock units were granted pursuant to the 2019 Plan approved by the Company’s board of directors on the Effective Date. <span id="xdx_90E_ecustom--OptionsVestedDescription_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember" title="Options vested, description">The Nathanielsz Options have a term of <span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_ziX0y2aBXc9a">10 years</span> from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz’s continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz’s continued employment with the Company through the applicable vesting date: (i) <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionaNathanielszRSUsMember_pdd" title="Rsus vest, shares">7.80</span> of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the “CTA”) for PRP, the Company’s lead product candidate (“PRP”), for a First-In-Human study for PRP (the “Study”) in an applicable jurisdiction to be selected by the Company, (ii) 7.80 of the Additional Nathanielsz RSUs shall vest upon</span> the CTA being approved in an applicable jurisdiction, (iii) 7.80 of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $<span id="xdx_90A_ecustom--GrossProceedsFromEquityFinancing_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionaNathanielszRSUsMember_pp0p0" title="Gross proceeds from equity financing">4,000,000</span> in gross proceeds, (iv) 7.80 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested restricted stock unit shall be settled by delivery to Mr. Nathanielsz of one share of the Company’s common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company’s board of directors and subject to the 2019 Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Employment Agreement), (ii) the date that is ten business days following the vesting of such restricted stock unit, (iii) the date of Mr. Nathanielsz’s death or Disability (as defined in the Employment Agreement), and (iv) Mr. Nathanielsz’s employment being terminated either by the Company without Cause or by Mr. Nathanielsz for Good Reason (each as defined in the Employment Agreement). In the event of a Change of Control, any unvested portion of the Nathanielsz Options and such restricted stock units shall vest immediately prior to such event. The 39 vested restricted stock unit are considered issuable as of June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Amended and Restated Services Agreement - On May 14, 2019, the Company also entered into an Amended and Restated Services Agreement (the “Services Agreement”) with Dr. Kenyon, the Company’s Chief Scientific Officer and a director, for a term of <span id="xdx_903_ecustom--AgreementlTerm_dtYxL_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zI7SHQGqEtZk" title="Agreement term::XDX::3"><span style="-sec-ix-hidden: xdx2ixbrl2350">three</span></span> years, subject to automatic <span id="xdx_90A_ecustom--AgreementRenewalTerm_dtYxL_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zeyfSPX9awp2" title="Agreement renewal term::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl2352">one</span></span>-year renewals, at an annual salary of $<span id="xdx_903_eus-gaap--SalariesAndWages_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMemberMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_pp0p0" title="Annual salary">54,000</span> AUD. In connection with the execution of the Services Agreement, Dr. Kenyon was designated as an executive officer of the Company and assumed a more active executive role with the Company. Pursuant to the Services Agreement, Dr. Kenyon was granted options to purchase <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_pdd" title="Option purchase shares">20</span> shares of the Company’s common stock (the “Kenyon Options”), with an exercise price per share of $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_pdd" title="Exercise price">4,250</span> (<span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent_dp_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zAyY4CSuklcf" title="Market price">100%</span> of the closing market price of the Company’s common stock on May 14, 2019, the date of approval of such grant by the Company’s board of directors), (ii) <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--AwardTypeAxis__custom--InitialKenyonRSUsMember_pdd" title="Restricted stock shares of common stock">20</span> restricted stock units of the Company (the “Initial Kenyon RSUs”), and (iii) an additional <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionalKenyonRSUsMember_pdd" title="Restricted stock shares of common stock">20</span> restricted stock units of the Company (the “Additional Kenyon RSUs”). Such options and restricted stock units were granted pursuant to the 2019 Plan approved by the Company’s board of directors on the Effective Date. <span id="xdx_90F_ecustom--OptionsVestedDescription_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember" title="Options vested, description">The Kenyon Options have a term of <span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zbf0Whz1LJM3">10 years</span> from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon’s continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon’s continued employment with the Company through the applicable vesting date: (i) <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionalKenyonRSUsMember_pdd" title="Rsus vest, shares">5</span> of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 5 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $<span id="xdx_900_ecustom--GrossProceedsFromEquityFinancing_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionalKenyonRSUsMember_pp0p0" title="Gross proceeds from equity financing">4,000,000</span> in gross proceeds, (iii) 5 of the Additional Kenyon RSUs shall vest upon the shares o</span>f the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 5 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested Kenyon RSU shall be settled by delivery to Mr. Kenyon of one share of the Company’s common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company’s board of directors and subject to the Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Services Agreement), (ii) the date that is ten business days following the vesting of such Kenyon RSU, (iii) the date of Dr. Kenyon’s death or Disability (as defined in the Services Agreement), and (iv) Dr. Kenyon’s employment being terminated either by the Company without Cause or by Dr. Kenyon for Good Reason (as defined in the Services Agreement). In the event of a Change of Control (as defined in the Services Agreement), 50% of any unvested portion of the Kenyon Options and the Kenyon RSUs shall vest immediately prior to such event. As of June 30, 2021, total accrued salaries of $<span id="xdx_904_eus-gaap--AccruedSalariesCurrent_iI_pp0p0_uAUD_c20210630__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zrdYDlvBc9yl" title="Accrued salaries">135,000</span> AUD ($<span id="xdx_908_eus-gaap--AccruedSalariesCurrent_c20210630_pp0p0" title="Accrued salaries">101,250</span> USD) is included in accrued expenses in the accompanying consolidated balance sheet. The <span id="xdx_907_ecustom--StockToBeIssuedDuringPeriodValueRestrictedStockUnit_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember_pdd" title="Restricted stock unit issuable">20</span> vested restricted stock unit are considered issuable as of June 30, 2021. On August 12, 2021, pursuant to the Cancellation Agreement, Mr. Kenyon agreed to cancel accrued salaries of $<span id="xdx_90B_ecustom--CancellationOfAccruedSalaries_iI_dtY_c20210812__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zaJwBxkt21Pl" title="Cancellation of accrued salary">102,600</span> in exchange for <span id="xdx_90D_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20210811__20210812__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zqr3diXViojd">3,420,000</span> shares of the common stock of the Company (see Note 13).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline">Intercompany Loans</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">All Intercompany loans were made by the parent to the subsidiary, Propanc PTY LTD, which have not been repaid as of June 30, 2021. Effective fiscal year 2021, the parent company determined that intercompany loans will not be repaid in the foreseeable future and thus, per ASC 830-20-35-3, gains and losses from measuring the intercompany balances are recorded within cumulative translation adjustment, a component of other comprehensive income. Prior to July 1, 2020, the Company recorded the foreign currency transaction gains and losses from measuring the intercompany balances as a component of other income (expenses) as reflected in the consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 55500 50993 33347 30639 39600 28325 3600 2575 198000 141629 86129 64597 Such lease expired in May 2021 and was renewed for another one-year term from May 2021 to May 2022 2019-02-25 25000 300000 205680 0.095 2 300000 205680 400000 274240 120000 80904 4481 3205 44918 30284 46135 34476 460000 315376 200000 137120 260000 178256 90000 64377 240000 0.60 202620 136606 407380 280726 177840 221890 166418 422610 316957 177840 5928000 P3Y 400000 39 4675 1.10 4250 39 39 The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz’s continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz’s continued employment with the Company through the applicable vesting date: (i) 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the “CTA”) for PRP, the Company’s lead product candidate (“PRP”), for a First-In-Human study for PRP (the “Study”) in an applicable jurisdiction to be selected by the Company, (ii) 7.80 of the Additional Nathanielsz RSUs shall vest upon P10Y 7.80 4000000 54000 20 4250 1 20 20 The Kenyon Options have a term of 10 years from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon’s continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon’s continued employment with the Company through the applicable vesting date: (i) 5 of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) 5 of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $4,000,000 in gross proceeds, (iii) 5 of the Additional Kenyon RSUs shall vest upon the shares o P10Y 5 4000000 135000 101250 20 102600 3420000 <p id="xdx_809_eus-gaap--ConcentrationRiskDisclosureTextBlock_zUlOBh1Ivd83" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 11 – <span id="xdx_826_z7NVN5D24Jra">CONCENTRATIONS AND RISKS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline">Concentration of Credit Risk</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company maintains its cash in banks and financial institutions in Australia. Bank deposits in Australian banks are uninsured. The Company has not experienced any losses in such accounts through June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In fiscal year 2020, t<span style="font: 10pt Times New Roman, Times, Serif">he</span><span style="font: 10pt Times New Roman, Times, Serif"> <span style="color: Black">Company currently primarily relied on funding from three convertible debt lenders. Proceeds received during the year ended June 30, 2020 from each of the three lenders were $<span id="xdx_901_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20190701__20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderOneMember_zjFGEVsziRX5">285,000</span></span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, $<span id="xdx_90E_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20190701__20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderTwoMember_zPljXdu1OvH2">505,000</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, and $<span id="xdx_909_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20190701__20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderThreeMember_zey8X6YvWZn">227,000</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, respectively, which represents approximately <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderOneMember_zKzuIYfnun9f">19%</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderTwoMember_zXKBdCalnNLb">34% </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20200630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderThreeMember_zRiTLuHUpeml">15%</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, respectively of total proceeds received by the Company during fiscal year 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In fiscal year 2021, the Company primarily relied on funding from two convertible debt lenders and received net proceeds after deductions of $<span id="xdx_900_eus-gaap--AmortizationOfFinancingCostsAndDiscounts_pp0p0_c20200701__20210630_zapu3rw2nnQ9" title="Discounts and debt issuance cost">16,000</span> for original issue discounts and debt issue costs during the year ended June 30, 2021 from each of the two lenders of $<span id="xdx_905_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20200701__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderOneMember_z0TkhjhwVrB1">125,000 </span>and $<span id="xdx_903_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20200701__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderTwoMember_zDSyxdHJZdXd"><span style="-sec-ix-hidden: xdx2ixbrl2392">200,000, </span></span>respectively, which represents approximately <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderOneMember_zsdoBHfYPX4f">39%</span>, and <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LenderTwoMember_zunB0KEfvbt5">61%, </span>respectively of total proceeds received by the Company during fiscal year 2021.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline">Receivable Concentration</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the Company’s receivables were <span id="xdx_908_ecustom--ReimbursementOnGoodsAndServiceTaxReceivablePercentage_dp_c20200701__20210630_zepQavbUoNN8" title="Reimbursement on goods and service tax receivable percentage"><span id="xdx_90A_ecustom--ReimbursementOnGoodsAndServiceTaxReceivablePercentage_dp_c20190701__20200630_zvXSLqq0YQgb" title="Reimbursement on goods and service tax receivable percentage">100%</span></span> related to reimbursements on GST taxes paid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline">Patent and Patent Concentration</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company has filed multiple patent applications relating to its lead product, PRP. The Company’s lead patent application has been granted and remains in force in the United States, Belgium, Czech Republic, Denmark, France, Germany, Ireland, Italy, Netherlands, Portugal, Spain, Sweden, Switzerland, Liechtenstein, Turkey, United Kingdom, Australia, China, Japan, Indonesia, Israel, New Zealand, Singapore, Malaysia, South Africa, Mexico, Republic of Korea, India and Brazil. In Canada, the patent application remains under examination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In 2016 and early 2017, we filed other patent applications. Three applications were filed under the Patent Cooperation Treaty (the “PCT”). The PCT assists applicants in seeking patent protection by filing one international patent application under the PCT, applicants can simultaneously seek protection for an invention in over 150 countries. Once filed, the application is placed under the control of the national or regional patent offices, as applicable, in what is called the national phase. One of the PCT applications filed in November 2016, entered national phase in July 2018 and another PCT application is currently entering national phase in August 2018. A third PCT application entered the national phase in October 2018.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In July 2020, a world first patent was granted in Australia for the cancer treatment method patent family. Presently, there are 31 granted patents and 34 patents under examination in key global jurisdictions relating to the use of proenzymes against solid tumors, covering the lead product candidate PRP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Further patent applications are expected to be filed to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="text-decoration: underline">Foreign Operations</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">As of June 30, 2021 and 2020, the Company’s operations are based in Camberwell, Australia, however the majority of research and development is being conducted in the European Union.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application with the European Medicines Agency as a small and medium-sized enterprise. As of June 30, 2021 and 2020, there has been no activity within this entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 285000 505000 227000 0.19 0.34 0.15 16000 125000 0.39 0.61 1 1 <p id="xdx_803_eus-gaap--DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_zlYx3T8dti75" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 12 - <span id="xdx_82F_zRHtpfFjjGs1">DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Derivative Financial Instruments:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company applies the provisions of ASC 815-40, <i>Contracts in Entity’s Own Equity</i>, under which convertible instruments and warrants, which contain terms that protect holders from declines in the stock price (reset provisions), may not be exempt from derivative accounting treatment. As a result, warrants and embedded conversion options in convertible debt are recorded as a liability and are revalued at fair value at each reporting date. If the fair value of the warrants exceeds the face value of the related debt, the excess is recorded as change in fair value in operations on the issuance date. The Company had $<span id="xdx_904_eus-gaap--ConvertibleDebt_c20210630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--ConvertibleDebtMember_pp0p0" title="Convertible debt">80,000</span> (1 note) and $<span id="xdx_905_eus-gaap--ConvertibleDebt_c20200630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--ConvertibleDebtMember_pp0p0" title="Convertible debt">126,500</span> (3 notes) of convertible debt, which is treated as derivative instruments outstanding at June 30, 2021 and 2020 respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company calculates the estimated fair values of the liabilities for derivative instruments using the Binomial Trees Method. The closing price of the Company’s common stock at June 30, 2021, the last trading day of the fiscal year ended June 30, 2021, was $<span id="xdx_90E_eus-gaap--SharePrice_c20210630_pdd">0.0517</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">. Volatility, expected remaining term and risk-free interest rates used to estimate the fair value of derivative liabilities at June 30, 2021 and 2020 are indicated in the table that follows. The expected term is equal to the remaining term of the warrants or convertible instruments and the risk free rate is based upon rates for treasury securities with the same term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zFxlxLM00prd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8BA_zmBowUwCLaxi" style="display: none">SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>Convertible Debt</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td style="border-bottom: Black 1.5pt solid; text-align: center"><b>Initial Valuations during the year ended June 30, 2021</b></td> <td style="padding-bottom: 1.5pt; text-align: center"><b> </b></td> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Initial<br/> Valuations</b></span></p> <p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>during</b></span></p> <p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>the year ended June 30, 2020</b></span></p></td> <td> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2020</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Volatility</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="text-align: center; width: 13%">N/A</td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 13%; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember_znsZSskEF4vh" title="Debt instrument, measurement input, percentages">227</span>-<span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember_z19zgrt6LIge" title="Debt instrument, measurement input, percentages">279</span></span></td> <td style="width: 1%">%</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 13%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20210630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z8qKxb6rq01j" title="Debt instrument, measurement input, percentages">222</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">%</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 13%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_90A_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zsocWzw9v8mc" title="Debt instrument, measurement input, percentages">264</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Expected remaining term</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="text-align: center">N/A</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><span id="xdx_90C_eus-gaap--DebtInstrumentTerm_dtY_c20190701__20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zg9nuItaB5A3" title="Debt instrument, measurement input, term">1.00</span></td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_902_eus-gaap--DebtInstrumentTerm_dtY_c20200701__20210630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_ziMIM80sCzJ9" title="Debt instrument, measurement input, term">0.01</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtY_c20190701__20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember__srt--RangeAxis__srt--MinimumMember_zQq0IiYT0cn5" title="Debt instrument, measurement input, term">0.01</span> – <span id="xdx_901_eus-gaap--DebtInstrumentTerm_dtY_c20190701__20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember__srt--RangeAxis__srt--MaximumMember_zRzEN0YrwSO1" title="Debt instrument, measurement input, term">0.70</span> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Risk-free interest rate</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="text-align: center">N/A</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember_zG2WLbhXC174" title="Debt instrument, measurement input, percentages">1.53</span> – <span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember_zeQQCpHn9Oo3" title="Debt instrument, measurement input, percentages">1.59</span></span></td> <td>%</td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20210630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z7Aep2hS9Ss4" title="Debt instrument, measurement input, percentages">0.05</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">%</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_901_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember__srt--RangeAxis__srt--MinimumMember_zJYF6qi0vIO4" title="Debt instrument, measurement input, percentages">0.13</span> – <span id="xdx_90D_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember__srt--RangeAxis__srt--MaximumMember_zQagw6Ahxvq1" title="Debt instrument, measurement input, percentages">0.18</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Expected dividend yield</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="text-align: center">N/A</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_904_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dn_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zM4oKsxZoZOi" title="Debt instrument, measurement input, percentages">None</span></span></td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_901_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dpn_uPure_c20210630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zPYMAAUfdnC9" title="Debt instrument, measurement input, percentages">None</span> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_907_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dn_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zcJ0FN6PYQYf" title="Debt instrument, measurement input, percentages">None</span> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8AD_zppbwSBc0Qc6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Fair Value Measurements:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The Company measures and reports at fair value the liability for derivative instruments. The fair value liabilities for price adjustable warrants and embedded conversion options have been recorded as determined utilizing the Binomial Trees model. The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2021:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_891_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zj10hCQnfo2k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span><span id="xdx_8BC_zhgIJsNvoEFe" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at<br/> June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Quoted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Identical Assets</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Observable Inputs</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Unobservable Inputs</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 1)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 2)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 3)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Embedded conversion option liabilities</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_981_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98A_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2445">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98B_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2447">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98C_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98D_eus-gaap--DerivativeLiabilities_c20210630_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98B_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2453">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_983_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2455">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_982_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at<br/> June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Quoted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Identical Assets</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Observable Inputs</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Unobservable Inputs</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 1)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 2)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 3)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Embedded conversion option liabilities</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_982_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_989_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2461">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98A_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2463">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98B_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98C_eus-gaap--DerivativeLiabilities_c20200630_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98A_eus-gaap--DerivativeLiabilities_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2469">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98B_eus-gaap--DerivativeLiabilities_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2471">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_983_eus-gaap--DerivativeLiabilities_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8AA_zSRvajH3Hwag" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zwnWqsCQ67Ea" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The following is a roll forward for the years ended June 30, 2021 and 2020 of the fair value liability of price adjustable derivative instruments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span><span id="xdx_8B1_zUG1Rm1Y5kic" style="display: none">SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Fair Value of</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Liability for</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Derivative</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Instruments</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 82%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at June 30, 2019</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_984_eus-gaap--DerivativeLiabilities_iS_pp0p0_c20190701__20200630_zclpqGLBOnAf" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Balance at Beginning"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">698,264</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Reductions due to conversions</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_989_ecustom--ReductionsDueToConversions_c20190701__20200630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Reductions due to conversions"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(362,962</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Initial fair value of embedded conversion option derivative liability recorded as debt discount</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_ecustom--FairValueOfWarrantDerivativeLiabilityRecorededAsDebtDiscount_c20190701__20200630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Initial fair value of embedded conversion option derivative liability recorded as debt discount"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">227,000</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Initial fair value of embedded conversion option derivative liability recorded as expense</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_983_ecustom--InitialFairValueOfEmbeddedConversionOptionDerivativeLiabilityRecordedAsExpense_c20190701__20200630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Initial fair value of embedded conversion option derivative liability recorded as expense"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">351,461</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Change in fair value included in statements of operations</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98B_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20190701__20200630_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Change in fair value included in statements of operations"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(736,754</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at June 30, 2020</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_982_eus-gaap--DerivativeLiabilities_iS_pp0p0_c20200701__20210630_zUMVWyInRydk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Balance at Beginning"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Gain on debt extinguishment</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_985_ecustom--GainOnDebtExtinguishment_c20200701__20210630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Gain on debt extinguishment"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(130,975</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Change in fair value included in statements of operations</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_982_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20200701__20210630_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Change in fair value included in statements of operations"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">8,186</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at June 30, 2021</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_988_eus-gaap--DerivativeLiabilities_iE_pp0p0_c20200701__20210630_zSqnvtpNZU1f" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Balance at Ending"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p id="xdx_8A0_zsQ5mF78ITza" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> 80000 126500 0.0517 <p id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zFxlxLM00prd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_8BA_zmBowUwCLaxi" style="display: none">SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES</span><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>Convertible Debt</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td style="border-bottom: Black 1.5pt solid; text-align: center"><b>Initial Valuations during the year ended June 30, 2021</b></td> <td style="padding-bottom: 1.5pt; text-align: center"><b> </b></td> <td style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Initial<br/> Valuations</b></span></p> <p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>during</b></span></p> <p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>the year ended June 30, 2020</b></span></p></td> <td> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2020</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Volatility</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="text-align: center; width: 13%">N/A</td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; width: 13%; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember_znsZSskEF4vh" title="Debt instrument, measurement input, percentages">227</span>-<span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember_z19zgrt6LIge" title="Debt instrument, measurement input, percentages">279</span></span></td> <td style="width: 1%">%</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 13%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20210630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z8qKxb6rq01j" title="Debt instrument, measurement input, percentages">222</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">%</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 13%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_90A_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zsocWzw9v8mc" title="Debt instrument, measurement input, percentages">264</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Expected remaining term</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="text-align: center">N/A</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><span id="xdx_90C_eus-gaap--DebtInstrumentTerm_dtY_c20190701__20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zg9nuItaB5A3" title="Debt instrument, measurement input, term">1.00</span></td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_902_eus-gaap--DebtInstrumentTerm_dtY_c20200701__20210630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_ziMIM80sCzJ9" title="Debt instrument, measurement input, term">0.01</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_904_eus-gaap--DebtInstrumentTerm_dtY_c20190701__20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember__srt--RangeAxis__srt--MinimumMember_zQq0IiYT0cn5" title="Debt instrument, measurement input, term">0.01</span> – <span id="xdx_901_eus-gaap--DebtInstrumentTerm_dtY_c20190701__20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember__srt--RangeAxis__srt--MaximumMember_zRzEN0YrwSO1" title="Debt instrument, measurement input, term">0.70</span> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Risk-free interest rate</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="text-align: center">N/A</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember_zG2WLbhXC174" title="Debt instrument, measurement input, percentages">1.53</span> – <span id="xdx_905_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember_zeQQCpHn9Oo3" title="Debt instrument, measurement input, percentages">1.59</span></span></td> <td>%</td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20210630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_z7Aep2hS9Ss4" title="Debt instrument, measurement input, percentages">0.05</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">%</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_901_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember__srt--RangeAxis__srt--MinimumMember_zJYF6qi0vIO4" title="Debt instrument, measurement input, percentages">0.13</span> – <span id="xdx_90D_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember__srt--RangeAxis__srt--MaximumMember_zQagw6Ahxvq1" title="Debt instrument, measurement input, percentages">0.18</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Expected dividend yield</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="text-align: center">N/A</td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right; vertical-align: bottom"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_904_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dn_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zM4oKsxZoZOi" title="Debt instrument, measurement input, percentages">None</span></span></td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_901_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dpn_uPure_c20210630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zPYMAAUfdnC9" title="Debt instrument, measurement input, percentages">None</span> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_907_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dn_uPure_c20200630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zcJ0FN6PYQYf" title="Debt instrument, measurement input, percentages">None</span> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 227 279 222 264 P1Y P0Y3D P0Y3D P0Y8M12D 1.53 1.59 0.05 0.13 0.18 0 0 0 <p id="xdx_891_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zj10hCQnfo2k" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span><span id="xdx_8BC_zhgIJsNvoEFe" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at<br/> June 30, 2021</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Quoted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Identical Assets</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Observable Inputs</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Unobservable Inputs</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 1)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 2)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 3)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Embedded conversion option liabilities</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_981_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98A_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2445">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98B_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2447">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98C_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98D_eus-gaap--DerivativeLiabilities_c20210630_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98B_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2453">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_983_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2455">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_982_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at<br/> June 30, 2020</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Quoted</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Identical Assets</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Observable Inputs</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Unobservable Inputs</b></span></p></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 1)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 2)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>(Level 3)</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 36%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Embedded conversion option liabilities</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_982_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_989_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2461">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98A_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2463">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98B_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right" title="Embedded conversion option liabilities"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Total</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98C_eus-gaap--DerivativeLiabilities_c20200630_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98A_eus-gaap--DerivativeLiabilities_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2469">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_98B_eus-gaap--DerivativeLiabilities_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span style="-sec-ix-hidden: xdx2ixbrl2471">—</span></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_983_eus-gaap--DerivativeLiabilities_c20200630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 54220 54220 54220 54220 177009 177009 177009 177009 <p id="xdx_898_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zwnWqsCQ67Ea" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The following is a roll forward for the years ended June 30, 2021 and 2020 of the fair value liability of price adjustable derivative instruments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: left; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span><span id="xdx_8B1_zUG1Rm1Y5kic" style="display: none">SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Fair Value of</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Liability for</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Derivative</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Instruments</b></span></td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 82%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at June 30, 2019</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_984_eus-gaap--DerivativeLiabilities_iS_pp0p0_c20190701__20200630_zclpqGLBOnAf" style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right" title="Balance at Beginning"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">698,264</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Reductions due to conversions</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_989_ecustom--ReductionsDueToConversions_c20190701__20200630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Reductions due to conversions"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(362,962</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Initial fair value of embedded conversion option derivative liability recorded as debt discount</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_986_ecustom--FairValueOfWarrantDerivativeLiabilityRecorededAsDebtDiscount_c20190701__20200630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Initial fair value of embedded conversion option derivative liability recorded as debt discount"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">227,000</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Initial fair value of embedded conversion option derivative liability recorded as expense</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_983_ecustom--InitialFairValueOfEmbeddedConversionOptionDerivativeLiabilityRecordedAsExpense_c20190701__20200630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Initial fair value of embedded conversion option derivative liability recorded as expense"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">351,461</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Change in fair value included in statements of operations</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_98B_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20190701__20200630_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Change in fair value included in statements of operations"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(736,754</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at June 30, 2020</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_982_eus-gaap--DerivativeLiabilities_iS_pp0p0_c20200701__20210630_zUMVWyInRydk" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Balance at Beginning"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">177,009</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Gain on debt extinguishment</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_985_ecustom--GainOnDebtExtinguishment_c20200701__20210630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Gain on debt extinguishment"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">(130,975</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">)</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Change in fair value included in statements of operations</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td id="xdx_982_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_c20200701__20210630_pp0p0" style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Change in fair value included in statements of operations"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">8,186</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Balance at June 30, 2021</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">$</span></td> <td id="xdx_988_eus-gaap--DerivativeLiabilities_iE_pp0p0_c20200701__20210630_zSqnvtpNZU1f" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Balance at Ending"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">54,220</span></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></td></tr> </table> 698264 -362962 227000 351461 -736754 177009 -130975 8186 54220 <p id="xdx_807_eus-gaap--SubsequentEventsTextBlock_zrHwINm5xEU3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTE 13 – <span id="xdx_82D_zExNzAej8vwe">SUBSEQUENT EVENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Exercise of Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">From July 9, 2021 through September 7, 2021, the Company received aggregate gross proceeds of $<span id="xdx_907_eus-gaap--ProceedsFromWarrantExercises_pp0p0_c20210709__20210907__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_za2JIYRtppHf">275,000 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">from the exercise of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20210709__20210907__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_zvTZEwTOekzb">6,875 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Series B Warrants and issued <span id="xdx_903_eus-gaap--CommonStockSharesIssued_iI_c20210907__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantsMember_z4LaYCMacYo3">6,875</span> shares of common stock. Additionally, the Company issued <span id="xdx_90B_eus-gaap--CommonStockSharesIssued_iI_c20210907__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--TwelveSeriesAAndAWarrantsMember_zclCoonFaZeg">2,399,988 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">shares of common stock from the alternate cashless exercise of 12 Series A warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Note Conversions</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">From July 1, 2021 through September 20, 2021, the Company issued an aggregate of <span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20210701__20210920__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zM9BmClAOoXg">6,702,152 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">shares of its common stock at an average contractual conversion price of $<span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210920__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpuhDyv8ks4e">0.02</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, ranging from $<span id="xdx_907_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210920__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--RangeAxis__srt--MinimumMember_zHKmVoo31Uv1">0.01 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">to $<span id="xdx_906_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210920__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--RangeAxis__srt--MaximumMember_z0wFtzRzYlCj">0.04</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, as a result of the conversion of principal of $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210920__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpA0O2qvXElh">146,348</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, </span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">interest of $<span id="xdx_90F_eus-gaap--InterestPayableCurrent_iI_pp0p0_c20210920__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z0M9VSiaK0D8">4,887 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">and conversion fees $<span id="xdx_90E_ecustom--ConversionFees_pp0p0_c20210701__20210920__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zp2IC1QmR0fe">2,250 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">underlying certain outstanding convertible notes converted during such period. The Company reclassified $<span id="xdx_900_eus-gaap--AdditionalPaidInCapital_iI_pp0p0_c20210923__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z1yVPDDia61c">86,219 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">in put premiums to additional paid in capital following conversions between July 2021 and September 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b>June 30, 2021 and 2020</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Nathanielsz Cancellation Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On August 12, 2021, the Company entered into a Cancellation Agreement with James Nathanielsz (“Nathanielsz”), Chief Executive Officer and Director of the Company, whereby Nathanielsz agreed to cancel his cash compensation bonus award for fiscal year 2021, ended June 30, 2021, in exchange for common stock of the Company. The Company and Nathanielsz entered into an Amended and Restated Employment Agreement dated May 14, 2019 (the “Agreement”). Pursuant to the terms of the Agreement, Nathanielsz was eligible to earn an annual fiscal year cash performance bonus for each fiscal year of his employment period with the Company with a target performance bonus of <span id="xdx_903_ecustom--PercentageOfBonusOfAnnualBaseSalary_dp_uPure_c20210811__20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_z0T2IuWy3sub">200%</span> of his average annualized base salary during the fiscal year for which the performance bonus is earned. On July 20, 2021, Nathanielsz was awarded a “target” bonus of <span id="xdx_905_ecustom--PercentageOfBonusOfAnnualBaseSalary_pip0_dp_uPure_c20210719__20210720__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zYc27273q2X4">78%</span>, or $<span id="xdx_90E_eus-gaap--OfficersCompensation_pp0p0_c20210719__20210720__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zKxr6FEZST98">177,840</span> USD (the “Debt”) for the fiscal year ended June 30, 2021, by the Company’s Board of Directors (the “Board”). Pursuant to the Cancellation Agreement, Nathanielsz agreed to cancel this Debt in exchange for <span id="xdx_903_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pp0p0_c20210816__20210817__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zlMMchIbnZ5k">5,928,000</span> shares of the common stock of the Company (the “Shares”), valued at approximately $<span id="xdx_90C_eus-gaap--SharePrice_iI_pip0_c20210817__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zktn7yqOiTjj" title="Share price">0.03</span> per share, being the closing price of the stock on the date of grant. The shares were issued on August 17, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Kenyon Cancellation Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #333333; text-align: justify; text-indent: 0.25in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On August 12, 2021, the Company entered into a Cancellation Agreement with Dr. Julian Kenyon (“Kenyon”), Chief Scientific Officer and Director of the Company, whereby Kenyon agreed to cancel of $<span id="xdx_904_ecustom--CancellationOfAccruedSalaries_iI_c20210812__us-gaap--TypeOfArrangementAxis__custom--KenyonCancellationAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zmEuFb0Ox5Ec">102,600 </span>USD of accrued salary due him as of June 30, 2021, pursuant to that certain Amended and Restated Services Agreement by and between Kenyon and the Company, dated May 14, 2019, in exchange for <span id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20210811__20210812__us-gaap--TypeOfArrangementAxis__custom--KenyonCancellationAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z8XIK8dugdh3">3,420,000</span> shares of common stock of the Company (the “Shares”), valued at approximately $<span id="xdx_90B_eus-gaap--SharePrice_iI_c20210812__us-gaap--TypeOfArrangementAxis__custom--KenyonCancellationAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zyhhb8K4FDg4">0.03</span> per share, being the closing price of the stock on the date of grant. The shares were issued on August 17, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #333333; text-align: justify; text-indent: 0.25in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Zelinger Amended and Restated Director Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On August 12, 2021, the Company entered into an Amended and Restated Director Agreement (the “Director Agreement”) with Josef Zelinger (“Zelinger”). <span id="xdx_903_ecustom--DescriptionOfEmploymentBenefits_c20210811__20210812__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zNl4i6Kde5w8" title="Description of employment benefits">Pursuant to the terms of the Director Agreement, the Company shall pay Zelinger a base salary of $250.00 AUD per month, payable on the first day of each month. In addition, the Company may compensate Zelinger additional consideration for advisory services performed by the Director, either in the form of cash or common stock, at the discretion of the Board. The Company issued <span id="xdx_906_ecustom--CommonStockIssuableShares_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zBon75o6ZXnc">2,800,000</span> shares of common stock of the Company for accrued director services of $<span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zdGzrF2eyRAh">84,000</span> as of June 30, 2021. The <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zJJdBMBN9QQe">2,800,000</span> shares of common stock was valued at approximately $<span id="xdx_90E_eus-gaap--SharePrice_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zgRYESC6Ujbi">0.03</span> per share, being the closing price of the stock on the date of grant.</span> The shares were issued on August 17, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>Common Stock Issued for Services</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On August 12, 2021, the Board approved the issuance of <span id="xdx_90D_ecustom--CommonStockIssuableShares_iI_c20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockOneMember_zAepDUmVNjb">2,800,000</span> shares of the Company’s common stock for bonus payable of $<span id="xdx_900_eus-gaap--AccruedBonusesCurrent_iI_c20210630__us-gaap--StatementClassOfStockAxis__custom--CommonStockOneMember_zIC5h5REOc9d" title="Accrued Bonuses">84,000</span> as of June 30, 2021 to an employee who is the wife of the CEO of the Company. The <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210811__20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockOneMember_zEnAQRCCPkya">2,800,000</span> shares of common stock was valued at approximately $<span id="xdx_906_eus-gaap--SharePrice_iI_c20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockOneMember_zdbjW1IUGO11">0.03</span> per share, being the closing price of the stock on the date of grant. The shares were issued on August 17, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">On August 12, 2021, the Board approved the issuance of <span id="xdx_902_ecustom--CommonStockIssuableShares_iI_c20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockTwoMember_zpWrojFpxwP2" title="Common Stock Issuable Shares">166,667</span> shares of the Company’s common stock for legal services rendered in August 2021 worth $<span id="xdx_907_eus-gaap--LegalFees_c20210811__20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockTwoMember_zFdllkl1AT64" title="Legal fees">5,000</span>. The <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210811__20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockTwoMember_zLkBE2Ns90yb">5,000</span> shares of common stock was valued at approximately $<span id="xdx_908_eus-gaap--SharePrice_iI_pid_c20210812__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockTwoMember_zaxuWj8NaDc5">0.03</span> per share, being the closing price of the stock on the date of grant. The shares were issued on September 3, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">In September 2021, the Company issued <span id="xdx_908_ecustom--CommonStockIssuableShares_iI_c20210930__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockThreeMember_zB3RWONnyTXc">2,819,712</span> shares of the Company’s common stock to a consultant for services rendered from July 2021 to September 2021. The Company issued <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210901__20210930__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockThreeMember_zZ9u46eCp5w3">2,819,712</span> shares of the Company’s common stock valued at approximately $<span id="xdx_904_eus-gaap--SharePrice_iI_c20210930__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockThreeMember_zncTt53fx8H5">0.04</span> per share, being the closing price of the stock on the date of grant to such consultant, or approximately $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20210901__20210930__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--CommonStockThreeMember_zoIb9zEbVEz2">113,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i>August 19, 2021 and September 22, 2021 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">Effective August 19, 2021, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc., pursuant to which Geneva Roth purchased a convertible promissory note (the “August 19, 2021 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zJxwu8JbUVDh">103,750</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six-month anniversary of the August 19, 2021 Geneva Roth. The August 19, 2021 Geneva Roth contains an original discount of $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zTJl5QYwYr5g">3,750</span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">. The Company intends to use the net proceeds from the August 19, 2021 Geneva Roth for general working capital purposes. </span>The maturity date of the August 19, 2021 Geneva Roth Note is <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_dd_c20210818__20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zaFr17VByOrj">August 19, 2022</span>. The August 19, 2021 Geneva Roth Note bears interest at a rate of <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20210818__20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zdxFt8OWQKp4">8% </span>per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the August 19, 2021 Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, effective September 22, 2021, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc., pursuant to which Geneva Roth purchased a convertible promissory note (the “September 22, 2021 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_c20210922__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zcYCx9VF7F8l">63,750</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six-month anniversary of the September 22, 2021 Geneva Roth. The September 22, 2021 Geneva Roth contains an original discount of $<span id="xdx_905_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20210922__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zHu6SSH176ua">3,750</span>. The Company intends to use the net proceeds from the September 22, 2021 Geneva Roth for general working capital purposes. The maturity date of the <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20210921__20210922__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zb91W7EBaEd2">September 22, 2021</span> Geneva Roth Note is September 22, 2022. The September 22, 2021 Geneva Roth Note bears interest at a rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20210921__20210922__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zzjAhYzJmcJb">8</span>% per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the September 22, 2021 Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"><span id="xdx_900_eus-gaap--DebtInstrumentDescription_c20210818__20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zG0J5VNzl6Ef" title="Debt description">During the first 60 to 180 days following the date of these notes, the Company has the right to prepay the principal and accrued but unpaid interest due under the above notes issued to Geneva Roth, together with any other amounts that the Company may owe the holder under the terms of the note, at a premium ranging from 110% to 129% as defined in the note agreement. After this initial 180-day period, the Company does not have a right to prepay such notes.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The conversion price for the above Geneva Roth notes shall be equal to a <span id="xdx_906_ecustom--DebtCoversionPercentage_dp_c20210818__20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zcSPVFCMNfyc">35% </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">discount of the market price which means the average of the lowest three trading prices of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion. Notwithstanding the foregoing, Geneva Roth shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Geneva Roth and its affiliates, exceeds <span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zEJqORt1zXC5">9.99% </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">of the outstanding shares of the Company’s common stock. These notes are treated as stock settled debt under ASC 480 and accordingly the Company recorded a total of $<span id="xdx_909_ecustom--GainFromSettlementOfDebtNet_c20210818__20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zQ1oTm0LT7ba">90,192 </span></span><span style="font: 10pt Times New Roman, Times, Serif; color: Black">put premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; color: Black">The above Geneva Roth notes contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateTerms_c20210818__20210819__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zQFItRYrVT9d" title="Debt Instrument, Interest Rate Terms">interest on the outstanding principal shall accrue at a default interest rate of 22% per annum</span>, or if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> 275000 6875 6875 2399988 6702152 0.02 0.01 0.04 146348 4887 2250 86219 2 0.78 177840 5928000 0.03 102600 3420000 0.03 Pursuant to the terms of the Director Agreement, the Company shall pay Zelinger a base salary of $250.00 AUD per month, payable on the first day of each month. In addition, the Company may compensate Zelinger additional consideration for advisory services performed by the Director, either in the form of cash or common stock, at the discretion of the Board. The Company issued 2,800,000 shares of common stock of the Company for accrued director services of $84,000 as of June 30, 2021. The 2,800,000 shares of common stock was valued at approximately $0.03 per share, being the closing price of the stock on the date of grant. 2800000 84000 2800000 0.03 2800000 84000 2800000 0.03 166667 5000 5000 0.03 2819712 2819712 0.04 113000 103750 3750 2022-08-19 0.08 63750 3750 2021-09-22 0.08 During the first 60 to 180 days following the date of these notes, the Company has the right to prepay the principal and accrued but unpaid interest due under the above notes issued to Geneva Roth, together with any other amounts that the Company may owe the holder under the terms of the note, at a premium ranging from 110% to 129% as defined in the note agreement. After this initial 180-day period, the Company does not have a right to prepay such notes. 0.35 0.0999 90192 interest on the outstanding principal shall accrue at a default interest rate of 22% per annum 45817 2255 2238 4341 8353 56408 6596 2164 2250 3593 4255 62165 13101 826184 1002335 407775 892151 584608 624583 58124 54220 32076 33347 53384 55500 406644 418538 2368795 3080674 2368795 3080674 1500005 1500005 0.01 0.01 0.01 0.01 500000 500000 500000 500000 500000 500000 5000 5000 0.01 0.01 5 5 1 1 1 1 0.001 0.001 1000000000 1000000000 43841644 43841644 14055393 14055393 43842 14056 2002549 59 2002 55444574 54074110 100000 1149397 1085204 -58804968 -58199466 1 1 46477 46477 -2306630 -3067573 62165 13101 431740 323111 7736 9204 46554 50846 486030 383161 -486030 -383161 109853 159281 -3904 64952 49985 109129 1960 -4628 -42384 -490658 -425545 -490658 -425545 -114844 -605502 -425545 -0.02 -0.71 27142519 597314 -605502 -425545 64193 -75755 64193 -75755 -541309 -501300 500000 5000 1 258120 258 50913893 -55781770 1267671 -46477 -3641425 442031 442 480133 480575 204919 204919 15445 15 201029 201044 20718 20718 -75755 -75755 -425545 -425545 500000 5000 1 715596 715 51820692 -56207315 1191916 -46477 -3235469 500000 5000 1 14055393 14056 59 54074110 -58199466 1085204 -46477 -3067573 9445009 9445 190741 200186 17934379 17934 563927 581861 6875 7 2500 2 374991 -100000 275000 2399988 2400 1999990 2000 -4400 109643 109643 20718 20718 64193 64193 114844 -114844 -490658 -490658 500000 5000 1 43841644 43842 2002549 2002 55444574 -100000 -58804968 1149397 -46477 -2306630 -490658 -425545 133422 109129 1960 509 438 6074 121281 -3904 64952 49985 20718 20718 2250 6750 -90192 -1937 755 8353 -137927 53576 -633 4067 10544 -15102 133046 11338 16262 -486758 -179949 160000 43000 275000 201044 435000 158044 95320 6116 43562 -15789 2255 67007 45817 51218 13172 109643 204919 197936 417670 448440 114844 100000 <p id="xdx_80D_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zTTe2uwKtJ9f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 1 – <span id="xdx_826_zE9JmaYAHYRh">NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_842_ecustom--NatureOfOperationsPolicyTextBlock_zyTsCKnZdqck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86D_z2tlihvxFFVh">Nature of Operations</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Propanc Biopharma, Inc. (the “Company,” “we,” “us” or “our”) was originally incorporated in Melbourne, Victoria Australia on October 15, 2007 as Propanc PTY LTD, and continues to be based in Camberwell, Victoria Australia. Since its inception, substantially all of the operations of the Company have been focused on the development of new cancer treatments targeting high-risk patients, particularly cancer survivors, who need a follow-up, non-toxic, long-term therapy designed to prevent the cancer from returning and spreading. The Company anticipates establishing global markets for its technologies. Our lead product candidate, which we refer to as PRP, is an enhanced pro-enzyme formulation designed to enhance the anti-cancer effects of multiple enzymes acting synergistically. It is currently in the preclinical phase of development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 26.2pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On <span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_dd_c20210701__20210930_zsFzMpziuoA7" title="Entity incorporation, date of incorporation">November 23, 2010</span>, the Company was incorporated in the state of Delaware as Propanc Health Group Corporation. In January 2011, to reorganize the Company, we acquired all of the outstanding shares of Propanc PTY LTD on a one-for-one basis making it a wholly-owned subsidiary of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application to the European Medicines Agency as a small and medium-sized enterprise. As of September 30, 2021, there has been no activity within this entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Effective April 20, 2017, the Company changed its name to “Propanc Biopharma, Inc.” to better reflect the Company’s stage of operations and development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In July 2020, a world first patent was granted in Australia for the cancer treatment method patent family. Presently, there are 29 granted patents and 33 patents under examination in key global jurisdictions relating to the use of proenzymes against solid tumors, covering the lead product candidate PRP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company hopes to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer by filing additional patent applications as it advances its lead product candidate, PRP, through various stages of development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On November 17, 2020, the Company effected a <span id="xdx_900_eus-gaap--StockholdersEquityReverseStockSplit_c20201116__20201117_zDGQYeiJ8fv4" title="Reverse stock">one-for-one thousand (1:1,000)</span> reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). Proportional adjustments for the Reverse Stock Split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the Reverse Stock Split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_848_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zU3e1cFXZ2z2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86B_zmrKinaSEaT2">Basis of Presentation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company’s interim unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q (this “Quarterly Report”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of the Company’s management, all adjustments (consisting of normal recurring adjustments and reclassifications and non-recurring adjustments) necessary to present fairly our results of operations for the three months ended September 30, 2021 and 2020 and cash flows for the three months ended September 30, 2021 and 2020 and our financial position at September 30, 2021 have been made. The Company’s results of operations for the three months ended September 30, 2021 are not necessarily indicative of the operating results to be expected for the full fiscal year ending June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Certain information and disclosures normally included in the notes to the Company’s annual audited consolidated financial statements have been condensed or omitted from the Company’s interim unaudited condensed consolidated financial statements included in this Quarterly Report. Accordingly, these interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the fiscal year ended June 30, 2021. The June 30, 2021 balance sheet is derived from those statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_84A_eus-gaap--ConsolidationPolicyTextBlock_zUzMhpDH8g1a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86D_z8DTT4x83H5b">Principles of Consolidation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The unaudited condensed consolidated financial statements include the accounts of Propanc Biopharma, Inc., the parent entity, and its wholly-owned subsidiary, Propanc PTY LTD. All inter-company balances and transactions have been eliminated in consolidation. Propanc (UK) Limited was an inactive subsidiary at September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_840_eus-gaap--UseOfEstimates_zKH5SsGwZ3P6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86F_zHD6rxWI4vv5">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements include the estimates of useful lives for depreciation, valuation of the operating lease liability and related right-of-use asset, valuation of derivatives, valuation of beneficial conversion features on convertible debt, allowance for uncollectable receivables, valuation of equity based instruments issued for other than cash, the valuation allowance on deferred tax assets and foreign currency translation due to certain average exchange rates applied in lieu of spot rates on transaction dates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_84D_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zYtRi38HEaAj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_868_zdZ6QdOvTze2">Foreign Currency Translation and Other Comprehensive Income (Loss)</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company’s wholly owned subsidiary’s functional currency is the Australian dollar (AUD). For financial reporting purposes, the Australian dollar has been translated into the Company’s reporting currency which is the United States dollar ($) and/or (USD). Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive income (loss) as a component of other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of Australian dollars to USD after the balance sheet date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Other Comprehensive Income (Loss) for all periods presented includes only foreign currency translation gains (losses).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. Effective fiscal year 2021, the parent company determined that these intercompany loans will not be repaid in the foreseeable future and thus, per ASC 830-20-35-3, gains and losses from measuring the intercompany balances are recorded within cumulative translation adjustment, a component of accumulated other comprehensive income (loss). Prior to July 1, 2020, the Company recorded the foreign currency transaction gains and losses from measuring the intercompany balances as a component of other income (expenses) titled foreign currency transaction gain (loss). For the three months ended September 30, 2021 and 2020, the Company recognized an exchange gain (loss) of approximately $<span id="xdx_909_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_pp0p0_c20210701__20210930__us-gaap--DebtInstrumentAxis__custom--IntercompanyLoansMember_zOhbETHOlpbj">619,000</span> and ($<span id="xdx_90B_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_pp0p0_c20200701__20200930__us-gaap--DebtInstrumentAxis__custom--IntercompanyLoansMember_zKbJ5TpFaGWk">583,000</span>), on intercompany loans made by the parent to the subsidiary which have not been repaid as of September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_89A_ecustom--ScheduleOfTranslationExchangeRatesTableTextBlock_zzNbOSdcA4v" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021 and June 30, 2021, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_z5Jwt3MLbtk1" style="display: none">SCHEDULE OF TRANSLATION EXCHANGE RATES</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Exchange rate on balance sheet dates</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">USD : AUD exchange rate</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210930_zAxoaqp5Oof3" style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7214</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210630_zAeNeQUILRnf" style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7500</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Average exchange rate for the period</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">USD : AUD exchange rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210930__srt--RangeAxis__srt--WeightedAverageMember_zyOm6KwP3orf" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7350</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210630__srt--RangeAxis__srt--WeightedAverageMember_zvDey7ZbyR65" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7473</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A8_zfay8WlxJE4a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_zWSkwTH6ECU4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The change in Accumulated Other Comprehensive Income (Loss) by component during the three months ended September 30, 2021 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B7_zATgnOSNnnC6" style="display: none">SCHEDULE OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Foreign<br/> Currency Items:</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%"><span style="font-family: Times New Roman, Times, Serif">Balance, June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20210701__20210930_zWQXY0qBZeZ4" style="width: 14%; text-align: right" title="Beginning balance"><span style="font-family: Times New Roman, Times, Serif">1,085,204</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Unrealized foreign currency translation gain</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20210701__20210930_zlbQptq6YdTi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign currency translation gain"><span style="font-family: Times New Roman, Times, Serif">64,193</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Ending balance, September 30, 2021</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_pp0p0_c20210701__20210930_z94fy1ZvaCCk" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="font-family: Times New Roman, Times, Serif">1,149,397</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A7_zcAa30ZDSqkj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_846_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zFC2t1G9CYMj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_864_zKI9KeM2Ukah">Fair Value of Financial Instruments and Fair Value Measurements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company measures its financial assets and liabilities in accordance with US GAAP. For certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate fair value due to their short maturities. Amounts recorded for notes payable, net of discount, and loans payable also approximate fair value because current interest rates available for debt with similar terms and maturities are substantially the same.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company follows accounting guidance for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 2: Inputs, other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Also see Note 11 - Derivative Financial Instruments and Fair Value Measurements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_844_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_z9t6VlcKAS8g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_861_zD9uCZl5Cas9">Cash and Cash Equivalents</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Cash and cash equivalents include cash on hand and at banks, short-term deposits with an original maturity of three months or less with financial institutions, and bank overdrafts. Bank overdrafts are reflected as a current liability on the balance sheets. There were <span id="xdx_907_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20200930_zOFhHXa6w5rk">no</span> cash equivalents as of September 30, 2021 or June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_845_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zACW3ttl00x5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_866_zLBSJMg94jY4">Property and Equipment</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Property and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are expensed as incurred; additions, renewals, and betterments are capitalized. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of property and equipment is provided using the declining balance method. The depreciable amount is the cost less its residual value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_891_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_zt2mxbVoEEWc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The estimated useful lives are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zrzjwdUOooq6" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 25%"><span style="font: 10pt Times New Roman, Times, Serif">Machinery and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 75%"><span style="font: 10pt Times New Roman, Times, Serif">- <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zgVFwUSlH806">5</span> years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">Furniture</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">- <span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zmrWJFVBDMYc">7</span> years</span></td></tr> </table> <p id="xdx_8A6_zyicsnfsPJy8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_843_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zpLA1iRncFHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_868_zax2qkWhbWie">Patents</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Patents are stated at cost and amortized on a straight-line basis over the estimated future periods if and once the patent has been granted by a regulatory agency. However, the Company will expense any patent costs as long as we are in the startup stage. Accordingly, as the Company’s products are not currently approved for market, all patent costs incurred from 2013 through September 30, 2021 were expensed immediately. This practice of expensing patent costs immediately ends when a product receives market authorization from a government regulatory agency.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zR7zOXittAmg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86A_zfgxcl3KPwSa">Impairment of Long-Lived Assets</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In accordance with ASC 360-10, “<i>Long-lived assets,”</i> which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_eus-gaap--EmployeeStockOwnershipPlanESOPPolicy_zKcRPhz1cmDl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86B_zKiRtMFzZSlc">Employee Benefit/Liability</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Liabilities arising in respect of wages and salaries, accumulated annual leave, accumulated long service leave and any other employee benefits expected to be settled within twelve months of the reporting date are measured based on the employee’s remuneration rates applicable at the reporting date. All other employee benefit liabilities are measured at the present value of the estimated future cash outflow to be made in respect of services provided by employees up to the reporting date. All employee liabilities are owed within the next twelve months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_845_ecustom--GoodsAndServiceTaxPolicyTextBlock_zFkquLvQEsN1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86E_zAcVIJZd3dT8">Australian Goods and Services Tax (“GST”)</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Revenues, expenses and balance sheet items are recognized net of the amount of GST, except payable and receivable balances which are shown inclusive of GST. The GST incurred is payable on revenues to, and recoverable on purchases from, the Australian Taxation Office.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Cash flows are presented in the statements of cash flow on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021, and June 30, 2021, the Company was owed $<span id="xdx_904_eus-gaap--ValueAddedTaxReceivableCurrent_iI_pp0p0_c20210930_zNHlbbV7dpad" title="Value added tax receivable">2,238</span> and $<span id="xdx_90A_eus-gaap--ValueAddedTaxReceivableCurrent_iI_pp0p0_c20200930_zQ4JT5NkFXzk" title="Value added tax receivable">4,341</span>, respectively, from the Australian Taxation Office. These amounts were fully collected subsequent to the balance sheet reporting dates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_eus-gaap--DerivativesReportingOfDerivativeActivity_zQ2WlEN1DWE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_861_zc8e4LzGljd1">Derivative Instruments</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">ASC Topic 815, <i>Derivatives and Hedging</i> (“ASC Topic 815”), establishes accounting and reporting standards for derivative instruments and for hedging activities by requiring that all derivatives be recognized in the balance sheet and measured at fair value. Gains or losses resulting from changes in the fair value of derivatives are recognized in earnings. On the date of conversion or payoff of debt, the Company records the fair value of the conversion shares, removes the fair value of the related derivative liability, removes any discounts and records a net gain or loss on debt extinguishment. On July 1, 2019 the Company adopted ASU 2017-11 under which down-round Features in Financial Instruments will no longer cause derivative treatment. The Company applies the modified prospective method of adoption. There were no cumulative effects on adoption.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_845_ecustom--ConvertibleNotesPolicyTextBlock_zxn5O0pSGSxg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_861_zqNXrYouGBs7">Convertible Notes With Variable Conversion Options</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company has entered into convertible notes, some of which contain variable conversion options, whereby the outstanding principal and accrued interest may be converted, by the holder, into common shares at a fixed discount to the price of the common stock at or around the time of conversion. The Company treats these convertible notes as stock settled debt under ASC 480, “<i>Distinguishing Liabilities from Equity</i>” and measures the fair value of the notes at the time of issuance, which is the result of the share price discount at the time of conversion and records the put premium as interest expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_848_eus-gaap--IncomeTaxPolicyTextBlock_zhOGS6N4HyHb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86B_z4ulDnTrWbva">Income Taxes</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company is governed by Australia and United States income tax laws, which are administered by the Australian Taxation Office and the United States Internal Revenue Service, respectively. The Company follows ASC 740 “<i>Accounting for Income Taxes</i>,” when accounting for income taxes, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company follows ASC 740, Sections 25 through 60, “<i>Accounting for Uncertainty in Income Taxes</i>.” These sections provide detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of ASC 740 and in subsequent periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_842_eus-gaap--ResearchAndDevelopmentExpensePolicy_zhSDwzgwptn3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_864_z7raaBtt59u1">Research and Development Costs and Tax Credits</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In accordance with ASC 730-10, <i>“Research and Development-Overall,”</i> research and development costs are expensed when incurred. Total research and development costs for the three months ended September 30, 2021 and 2020 were $<span id="xdx_901_eus-gaap--ResearchAndDevelopmentExpense_pp0p0_c20210701__20210930_z8IQi4E6xGXk">46,554</span> and $<span id="xdx_90B_eus-gaap--ResearchAndDevelopmentExpense_pp0p0_c20200701__20200930_zKalVQgW6Sua">50,846</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company may apply for research and development tax concessions with the Australian Taxation Office on an annual basis. Although the amount is possible to estimate at year end, the Australian Taxation Office may reject or materially alter the claim amount. Accordingly, the Company does not recognize the benefit of the claim amount until cash receipt since collectability is not certain until such time. The tax concession is a refundable credit. If the Company has net income, then the Company can receive the credit which reduces its income tax liability. If the Company has net losses, then the Company may still receive a cash payment for the credit, however, the Company’s net operating loss carryforwards are reduced by the gross equivalent loss that would produce the credit amount when the income tax rate is applied to that gross amount. The concession is recognized as tax benefit, in operations, upon receipt.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">During each of the three months ended September 30, 2021 and 2020, the Company applied for, and received from the Australian Taxation Office, a research and development tax credit in the amount of $<span id="xdx_900_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_dixL_c20200701__20200930_zfbdkDjR4Lw6" title="::XDX::-"><span id="xdx_90E_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_dixL_c20210701__20210930_zu8lPCnqt6u" title="Tax credits::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl3304"><span style="-sec-ix-hidden: xdx2ixbrl3306">0</span></span></span></span>, which is reflected as a tax benefit in the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_z7ocjmQGNxmd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86D_zxXe6dOqY3P8">Stock Based Compensation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company records stock-based compensation in accordance with ASC 718, “<i>Stock Compensation</i>”. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the shorter of the service period or the vesting period. The Company values employee and non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company adopted ASU 2018-07 and accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 718 and recognizes the fair value of such awards over the service period. The Company used the modified prospective method of adoption. There was no cumulative effect of adoption on July 1, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_842_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zoI5lfak5jZ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_866_zQ0pBQvL2eDf">Revenue Recognition</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company adopted and implemented on July 1, 2018, ASC 606 – Revenue from Contracts with Customers (“ASC 606”). ASC 606 did not have a material impact on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Upon implementation of ASC 606, the Company recognizes revenue in accordance with that core principle by applying the following steps:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 1: Identify the contract(s) with a customer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 2: Identify the performance obligations in the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 3: Determine the transaction price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 4: Allocate the transaction price to the performance obligations in the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Subject to these criteria, the Company intends to recognize revenue relating to royalties on product sales in the period in which the sale occurs and the royalty term has begun.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_845_eus-gaap--LegalCostsPolicyTextBlock_zYIGCDDncv8f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_869_zZfv7SoMGD11">Legal Expenses</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">All legal costs for litigation are charged to expense as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_84E_eus-gaap--LesseeLeasesPolicyTextBlock_zXunrNvs61Gc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_868_zSbh3EyY4Kej">Leases</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, <i>Leases</i> (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018. The Company adopted this guidance effective July 1, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On July 1, 2019, the Company adopted ASU No. 2016-02, applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases and; (ii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assessed whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Operating lease ROU assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company use an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and will be included in general and administrative expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_84E_eus-gaap--EarningsPerSharePolicyTextBlock_zpfEBsYvPCak" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_869_zIeaaJNnPy08">Basic and Diluted Net Loss Per Common Share</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. <span id="xdx_902_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20210701__20210930_zELEU7ykKkIk" title="Debt conversion percentage, description">Each holder of the notes has agreed to a <span id="xdx_904_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_uPure_c20200701__20210630_zhcROCTayfJi" title="Debt conversion percentage">4.99</span>% beneficial ownership conversion limitation (subject to certain noteholders’ ability to increase such limitation to <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20210819__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zjDxTQNnQMx6">9.99</span>% upon 60 days’ notice to the Company), and each note may not be converted during the first six-month period from the date of issuance. The securities for the period ended September 30, 2021 and 2020 were considered dilutive securities which were excluded from the computation since the effect is anti-dilutive.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span title="Debt conversion percentage, description"> </span></span></p> <p id="xdx_89A_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zLusIxCV0JF5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B8_z5qGGqx37Jgb" style="display: none">SCHEDULE OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Stock Options</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRWorJnhqvNc" style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zlntA9renUm6" style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">60</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Stock Warrants</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zM5tes7KTZa" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">111,932</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zt22Rh7qyBR8" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">135,725</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Unvested restricted stock</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_ziQ1XBlUpRa9" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zaZOZ38j94Hd" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">117</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Convertible Debt</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zadTQYWGAgi6" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,293,971</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zsFdubolj81a" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">510,674</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930_zjRj7iczs6t1" style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,406,021</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930_zQ6W7BJxm8Kh" style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">646,576</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A6_ztUc5Ua4Aso2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_841_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zFYh4pSJ2Re4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_863_zJh69seVZbtk">Recent Accounting Pronouncements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. We have carefully considered the new pronouncements that alter previous generally accepted accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of the Company’s financial management.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In August 2020, the FASB issued ASU 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40)”. This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock. As well as amend the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related EPS guidance. This standard is effective for us on July 1, 2022, including interim periods within those fiscal years. Adoption is either a modified retrospective method or a fully retrospective method of transition. The Company is currently assessing the impact the new guidance will have on our consolidated financial statements.</span></p> <p id="xdx_859_zwf6AthGWyXc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_842_ecustom--NatureOfOperationsPolicyTextBlock_zyTsCKnZdqck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86D_z2tlihvxFFVh">Nature of Operations</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Propanc Biopharma, Inc. (the “Company,” “we,” “us” or “our”) was originally incorporated in Melbourne, Victoria Australia on October 15, 2007 as Propanc PTY LTD, and continues to be based in Camberwell, Victoria Australia. Since its inception, substantially all of the operations of the Company have been focused on the development of new cancer treatments targeting high-risk patients, particularly cancer survivors, who need a follow-up, non-toxic, long-term therapy designed to prevent the cancer from returning and spreading. The Company anticipates establishing global markets for its technologies. Our lead product candidate, which we refer to as PRP, is an enhanced pro-enzyme formulation designed to enhance the anti-cancer effects of multiple enzymes acting synergistically. It is currently in the preclinical phase of development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 26.2pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On <span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_dd_c20210701__20210930_zsFzMpziuoA7" title="Entity incorporation, date of incorporation">November 23, 2010</span>, the Company was incorporated in the state of Delaware as Propanc Health Group Corporation. In January 2011, to reorganize the Company, we acquired all of the outstanding shares of Propanc PTY LTD on a one-for-one basis making it a wholly-owned subsidiary of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application to the European Medicines Agency as a small and medium-sized enterprise. As of September 30, 2021, there has been no activity within this entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Effective April 20, 2017, the Company changed its name to “Propanc Biopharma, Inc.” to better reflect the Company’s stage of operations and development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In July 2020, a world first patent was granted in Australia for the cancer treatment method patent family. Presently, there are 29 granted patents and 33 patents under examination in key global jurisdictions relating to the use of proenzymes against solid tumors, covering the lead product candidate PRP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company hopes to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer by filing additional patent applications as it advances its lead product candidate, PRP, through various stages of development.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On November 17, 2020, the Company effected a <span id="xdx_900_eus-gaap--StockholdersEquityReverseStockSplit_c20201116__20201117_zDGQYeiJ8fv4" title="Reverse stock">one-for-one thousand (1:1,000)</span> reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). Proportional adjustments for the Reverse Stock Split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the Reverse Stock Split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 2010-11-23 one-for-one thousand (1:1,000) <p id="xdx_848_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zU3e1cFXZ2z2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86B_zmrKinaSEaT2">Basis of Presentation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company’s interim unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q (this “Quarterly Report”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of the Company’s management, all adjustments (consisting of normal recurring adjustments and reclassifications and non-recurring adjustments) necessary to present fairly our results of operations for the three months ended September 30, 2021 and 2020 and cash flows for the three months ended September 30, 2021 and 2020 and our financial position at September 30, 2021 have been made. The Company’s results of operations for the three months ended September 30, 2021 are not necessarily indicative of the operating results to be expected for the full fiscal year ending June 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Certain information and disclosures normally included in the notes to the Company’s annual audited consolidated financial statements have been condensed or omitted from the Company’s interim unaudited condensed consolidated financial statements included in this Quarterly Report. Accordingly, these interim unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the fiscal year ended June 30, 2021. The June 30, 2021 balance sheet is derived from those statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_84A_eus-gaap--ConsolidationPolicyTextBlock_zUzMhpDH8g1a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86D_z8DTT4x83H5b">Principles of Consolidation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The unaudited condensed consolidated financial statements include the accounts of Propanc Biopharma, Inc., the parent entity, and its wholly-owned subsidiary, Propanc PTY LTD. All inter-company balances and transactions have been eliminated in consolidation. Propanc (UK) Limited was an inactive subsidiary at September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_840_eus-gaap--UseOfEstimates_zKH5SsGwZ3P6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86F_zHD6rxWI4vv5">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements include the estimates of useful lives for depreciation, valuation of the operating lease liability and related right-of-use asset, valuation of derivatives, valuation of beneficial conversion features on convertible debt, allowance for uncollectable receivables, valuation of equity based instruments issued for other than cash, the valuation allowance on deferred tax assets and foreign currency translation due to certain average exchange rates applied in lieu of spot rates on transaction dates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_84D_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zYtRi38HEaAj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_868_zdZ6QdOvTze2">Foreign Currency Translation and Other Comprehensive Income (Loss)</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company’s wholly owned subsidiary’s functional currency is the Australian dollar (AUD). For financial reporting purposes, the Australian dollar has been translated into the Company’s reporting currency which is the United States dollar ($) and/or (USD). Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive income (loss) as a component of other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of Australian dollars to USD after the balance sheet date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Other Comprehensive Income (Loss) for all periods presented includes only foreign currency translation gains (losses).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. Effective fiscal year 2021, the parent company determined that these intercompany loans will not be repaid in the foreseeable future and thus, per ASC 830-20-35-3, gains and losses from measuring the intercompany balances are recorded within cumulative translation adjustment, a component of accumulated other comprehensive income (loss). Prior to July 1, 2020, the Company recorded the foreign currency transaction gains and losses from measuring the intercompany balances as a component of other income (expenses) titled foreign currency transaction gain (loss). For the three months ended September 30, 2021 and 2020, the Company recognized an exchange gain (loss) of approximately $<span id="xdx_909_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_pp0p0_c20210701__20210930__us-gaap--DebtInstrumentAxis__custom--IntercompanyLoansMember_zOhbETHOlpbj">619,000</span> and ($<span id="xdx_90B_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent_pp0p0_c20200701__20200930__us-gaap--DebtInstrumentAxis__custom--IntercompanyLoansMember_zKbJ5TpFaGWk">583,000</span>), on intercompany loans made by the parent to the subsidiary which have not been repaid as of September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_89A_ecustom--ScheduleOfTranslationExchangeRatesTableTextBlock_zzNbOSdcA4v" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021 and June 30, 2021, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_z5Jwt3MLbtk1" style="display: none">SCHEDULE OF TRANSLATION EXCHANGE RATES</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Exchange rate on balance sheet dates</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">USD : AUD exchange rate</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210930_zAxoaqp5Oof3" style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7214</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210630_zAeNeQUILRnf" style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7500</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Average exchange rate for the period</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">USD : AUD exchange rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210930__srt--RangeAxis__srt--WeightedAverageMember_zyOm6KwP3orf" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7350</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210630__srt--RangeAxis__srt--WeightedAverageMember_zvDey7ZbyR65" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7473</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A8_zfay8WlxJE4a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_893_eus-gaap--ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_zWSkwTH6ECU4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The change in Accumulated Other Comprehensive Income (Loss) by component during the three months ended September 30, 2021 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B7_zATgnOSNnnC6" style="display: none">SCHEDULE OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Foreign<br/> Currency Items:</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%"><span style="font-family: Times New Roman, Times, Serif">Balance, June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20210701__20210930_zWQXY0qBZeZ4" style="width: 14%; text-align: right" title="Beginning balance"><span style="font-family: Times New Roman, Times, Serif">1,085,204</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Unrealized foreign currency translation gain</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20210701__20210930_zlbQptq6YdTi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign currency translation gain"><span style="font-family: Times New Roman, Times, Serif">64,193</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Ending balance, September 30, 2021</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_pp0p0_c20210701__20210930_z94fy1ZvaCCk" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="font-family: Times New Roman, Times, Serif">1,149,397</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A7_zcAa30ZDSqkj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 619000 583000 <p id="xdx_89A_ecustom--ScheduleOfTranslationExchangeRatesTableTextBlock_zzNbOSdcA4v" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021 and June 30, 2021, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_z5Jwt3MLbtk1" style="display: none">SCHEDULE OF TRANSLATION EXCHANGE RATES</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Exchange rate on balance sheet dates</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">USD : AUD exchange rate</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210930_zAxoaqp5Oof3" style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7214</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210630_zAeNeQUILRnf" style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7500</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Average exchange rate for the period</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">USD : AUD exchange rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210930__srt--RangeAxis__srt--WeightedAverageMember_zyOm6KwP3orf" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7350</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_c20210630__srt--RangeAxis__srt--WeightedAverageMember_zvDey7ZbyR65" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">0.7473</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 0.7214 0.7500 0.7350 0.7473 <p id="xdx_893_eus-gaap--ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock_zWSkwTH6ECU4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The change in Accumulated Other Comprehensive Income (Loss) by component during the three months ended September 30, 2021 was as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B7_zATgnOSNnnC6" style="display: none">SCHEDULE OF CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Foreign<br/> Currency Items:</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%"><span style="font-family: Times New Roman, Times, Serif">Balance, June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iS_pp0p0_c20210701__20210930_zWQXY0qBZeZ4" style="width: 14%; text-align: right" title="Beginning balance"><span style="font-family: Times New Roman, Times, Serif">1,085,204</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Unrealized foreign currency translation gain</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_eus-gaap--OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax_pp0p0_c20210701__20210930_zlbQptq6YdTi" style="border-bottom: Black 1.5pt solid; text-align: right" title="Foreign currency translation gain"><span style="font-family: Times New Roman, Times, Serif">64,193</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Ending balance, September 30, 2021</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iE_pp0p0_c20210701__20210930_z94fy1ZvaCCk" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance"><span style="font-family: Times New Roman, Times, Serif">1,149,397</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 1085204 64193 1149397 <p id="xdx_846_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zFC2t1G9CYMj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_864_zKI9KeM2Ukah">Fair Value of Financial Instruments and Fair Value Measurements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company measures its financial assets and liabilities in accordance with US GAAP. For certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate fair value due to their short maturities. Amounts recorded for notes payable, net of discount, and loans payable also approximate fair value because current interest rates available for debt with similar terms and maturities are substantially the same.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company follows accounting guidance for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 2: Inputs, other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.95pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Also see Note 11 - Derivative Financial Instruments and Fair Value Measurements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_844_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_z9t6VlcKAS8g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_861_zD9uCZl5Cas9">Cash and Cash Equivalents</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Cash and cash equivalents include cash on hand and at banks, short-term deposits with an original maturity of three months or less with financial institutions, and bank overdrafts. Bank overdrafts are reflected as a current liability on the balance sheets. There were <span id="xdx_907_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20200930_zOFhHXa6w5rk">no</span> cash equivalents as of September 30, 2021 or June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 0 <p id="xdx_845_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zACW3ttl00x5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_866_zLBSJMg94jY4">Property and Equipment</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Property and equipment are stated at cost, net of accumulated depreciation. Expenditures for maintenance and repairs are expensed as incurred; additions, renewals, and betterments are capitalized. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of property and equipment is provided using the declining balance method. The depreciable amount is the cost less its residual value.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_891_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_zt2mxbVoEEWc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The estimated useful lives are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zrzjwdUOooq6" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 25%"><span style="font: 10pt Times New Roman, Times, Serif">Machinery and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 75%"><span style="font: 10pt Times New Roman, Times, Serif">- <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zgVFwUSlH806">5</span> years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">Furniture</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">- <span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zmrWJFVBDMYc">7</span> years</span></td></tr> </table> <p id="xdx_8A6_zyicsnfsPJy8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_891_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLivesTableTextBlock_zt2mxbVoEEWc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The estimated useful lives are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zrzjwdUOooq6" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 25%"><span style="font: 10pt Times New Roman, Times, Serif">Machinery and equipment</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 75%"><span style="font: 10pt Times New Roman, Times, Serif">- <span id="xdx_90F_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zgVFwUSlH806">5</span> years</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">Furniture</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">- <span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_dtY_c20210701__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zmrWJFVBDMYc">7</span> years</span></td></tr> </table> P5Y P7Y <p id="xdx_843_eus-gaap--GoodwillAndIntangibleAssetsIntangibleAssetsPolicy_zpLA1iRncFHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_868_zax2qkWhbWie">Patents</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Patents are stated at cost and amortized on a straight-line basis over the estimated future periods if and once the patent has been granted by a regulatory agency. However, the Company will expense any patent costs as long as we are in the startup stage. Accordingly, as the Company’s products are not currently approved for market, all patent costs incurred from 2013 through September 30, 2021 were expensed immediately. This practice of expensing patent costs immediately ends when a product receives market authorization from a government regulatory agency.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zR7zOXittAmg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86A_zfgxcl3KPwSa">Impairment of Long-Lived Assets</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In accordance with ASC 360-10, “<i>Long-lived assets,”</i> which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_847_eus-gaap--EmployeeStockOwnershipPlanESOPPolicy_zKcRPhz1cmDl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86B_zKiRtMFzZSlc">Employee Benefit/Liability</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Liabilities arising in respect of wages and salaries, accumulated annual leave, accumulated long service leave and any other employee benefits expected to be settled within twelve months of the reporting date are measured based on the employee’s remuneration rates applicable at the reporting date. All other employee benefit liabilities are measured at the present value of the estimated future cash outflow to be made in respect of services provided by employees up to the reporting date. All employee liabilities are owed within the next twelve months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_845_ecustom--GoodsAndServiceTaxPolicyTextBlock_zFkquLvQEsN1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86E_zAcVIJZd3dT8">Australian Goods and Services Tax (“GST”)</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Revenues, expenses and balance sheet items are recognized net of the amount of GST, except payable and receivable balances which are shown inclusive of GST. The GST incurred is payable on revenues to, and recoverable on purchases from, the Australian Taxation Office.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Cash flows are presented in the statements of cash flow on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021, and June 30, 2021, the Company was owed $<span id="xdx_904_eus-gaap--ValueAddedTaxReceivableCurrent_iI_pp0p0_c20210930_zNHlbbV7dpad" title="Value added tax receivable">2,238</span> and $<span id="xdx_90A_eus-gaap--ValueAddedTaxReceivableCurrent_iI_pp0p0_c20200930_zQ4JT5NkFXzk" title="Value added tax receivable">4,341</span>, respectively, from the Australian Taxation Office. These amounts were fully collected subsequent to the balance sheet reporting dates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 2238 4341 <p id="xdx_847_eus-gaap--DerivativesReportingOfDerivativeActivity_zQ2WlEN1DWE6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_861_zc8e4LzGljd1">Derivative Instruments</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">ASC Topic 815, <i>Derivatives and Hedging</i> (“ASC Topic 815”), establishes accounting and reporting standards for derivative instruments and for hedging activities by requiring that all derivatives be recognized in the balance sheet and measured at fair value. Gains or losses resulting from changes in the fair value of derivatives are recognized in earnings. On the date of conversion or payoff of debt, the Company records the fair value of the conversion shares, removes the fair value of the related derivative liability, removes any discounts and records a net gain or loss on debt extinguishment. On July 1, 2019 the Company adopted ASU 2017-11 under which down-round Features in Financial Instruments will no longer cause derivative treatment. The Company applies the modified prospective method of adoption. There were no cumulative effects on adoption.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_845_ecustom--ConvertibleNotesPolicyTextBlock_zxn5O0pSGSxg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_861_zqNXrYouGBs7">Convertible Notes With Variable Conversion Options</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company has entered into convertible notes, some of which contain variable conversion options, whereby the outstanding principal and accrued interest may be converted, by the holder, into common shares at a fixed discount to the price of the common stock at or around the time of conversion. The Company treats these convertible notes as stock settled debt under ASC 480, “<i>Distinguishing Liabilities from Equity</i>” and measures the fair value of the notes at the time of issuance, which is the result of the share price discount at the time of conversion and records the put premium as interest expense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_848_eus-gaap--IncomeTaxPolicyTextBlock_zhOGS6N4HyHb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86B_z4ulDnTrWbva">Income Taxes</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company is governed by Australia and United States income tax laws, which are administered by the Australian Taxation Office and the United States Internal Revenue Service, respectively. The Company follows ASC 740 “<i>Accounting for Income Taxes</i>,” when accounting for income taxes, which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed annually for temporary differences between the financial statements and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company follows ASC 740, Sections 25 through 60, “<i>Accounting for Uncertainty in Income Taxes</i>.” These sections provide detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a “more-likely-than-not” recognition threshold at the effective date to be recognized upon the adoption of ASC 740 and in subsequent periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_842_eus-gaap--ResearchAndDevelopmentExpensePolicy_zhSDwzgwptn3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_864_z7raaBtt59u1">Research and Development Costs and Tax Credits</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In accordance with ASC 730-10, <i>“Research and Development-Overall,”</i> research and development costs are expensed when incurred. Total research and development costs for the three months ended September 30, 2021 and 2020 were $<span id="xdx_901_eus-gaap--ResearchAndDevelopmentExpense_pp0p0_c20210701__20210930_z8IQi4E6xGXk">46,554</span> and $<span id="xdx_90B_eus-gaap--ResearchAndDevelopmentExpense_pp0p0_c20200701__20200930_zKalVQgW6Sua">50,846</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company may apply for research and development tax concessions with the Australian Taxation Office on an annual basis. Although the amount is possible to estimate at year end, the Australian Taxation Office may reject or materially alter the claim amount. Accordingly, the Company does not recognize the benefit of the claim amount until cash receipt since collectability is not certain until such time. The tax concession is a refundable credit. If the Company has net income, then the Company can receive the credit which reduces its income tax liability. If the Company has net losses, then the Company may still receive a cash payment for the credit, however, the Company’s net operating loss carryforwards are reduced by the gross equivalent loss that would produce the credit amount when the income tax rate is applied to that gross amount. The concession is recognized as tax benefit, in operations, upon receipt.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">During each of the three months ended September 30, 2021 and 2020, the Company applied for, and received from the Australian Taxation Office, a research and development tax credit in the amount of $<span id="xdx_900_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_dixL_c20200701__20200930_zfbdkDjR4Lw6" title="::XDX::-"><span id="xdx_90E_eus-gaap--IncomeTaxExpenseBenefit_iN_pp0p0_dixL_c20210701__20210930_zu8lPCnqt6u" title="Tax credits::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl3304"><span style="-sec-ix-hidden: xdx2ixbrl3306">0</span></span></span></span>, which is reflected as a tax benefit in the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 46554 50846 <p id="xdx_847_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_z7ocjmQGNxmd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_86D_zxXe6dOqY3P8">Stock Based Compensation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company records stock-based compensation in accordance with ASC 718, “<i>Stock Compensation</i>”. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the shorter of the service period or the vesting period. The Company values employee and non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company adopted ASU 2018-07 and accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 718 and recognizes the fair value of such awards over the service period. The Company used the modified prospective method of adoption. There was no cumulative effect of adoption on July 1, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_842_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zoI5lfak5jZ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_866_zQ0pBQvL2eDf">Revenue Recognition</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company adopted and implemented on July 1, 2018, ASC 606 – Revenue from Contracts with Customers (“ASC 606”). ASC 606 did not have a material impact on the consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Upon implementation of ASC 606, the Company recognizes revenue in accordance with that core principle by applying the following steps:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 1: Identify the contract(s) with a customer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 2: Identify the performance obligations in the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 3: Determine the transaction price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 4: Allocate the transaction price to the performance obligations in the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Subject to these criteria, the Company intends to recognize revenue relating to royalties on product sales in the period in which the sale occurs and the royalty term has begun.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_845_eus-gaap--LegalCostsPolicyTextBlock_zYIGCDDncv8f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_869_zZfv7SoMGD11">Legal Expenses</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">All legal costs for litigation are charged to expense as incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_84E_eus-gaap--LesseeLeasesPolicyTextBlock_zXunrNvs61Gc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_868_zSbh3EyY4Kej">Leases</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, <i>Leases</i> (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018. The Company adopted this guidance effective July 1, 2019.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On July 1, 2019, the Company adopted ASU No. 2016-02, applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases and; (ii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assessed whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Operating lease ROU assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company use an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and will be included in general and administrative expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_84E_eus-gaap--EarningsPerSharePolicyTextBlock_zpfEBsYvPCak" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_869_zIeaaJNnPy08">Basic and Diluted Net Loss Per Common Share</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as stock options, warrants and convertible debt instruments. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, the basic and diluted per share amounts for all periods presented are identical. <span id="xdx_902_eus-gaap--DebtInstrumentConvertibleTermsOfConversionFeature_c20210701__20210930_zELEU7ykKkIk" title="Debt conversion percentage, description">Each holder of the notes has agreed to a <span id="xdx_904_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_dp_uPure_c20200701__20210630_zhcROCTayfJi" title="Debt conversion percentage">4.99</span>% beneficial ownership conversion limitation (subject to certain noteholders’ ability to increase such limitation to <span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20210819__us-gaap--TypeOfArrangementAxis__custom--TwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zjDxTQNnQMx6">9.99</span>% upon 60 days’ notice to the Company), and each note may not be converted during the first six-month period from the date of issuance. The securities for the period ended September 30, 2021 and 2020 were considered dilutive securities which were excluded from the computation since the effect is anti-dilutive.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span title="Debt conversion percentage, description"> </span></span></p> <p id="xdx_89A_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zLusIxCV0JF5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B8_z5qGGqx37Jgb" style="display: none">SCHEDULE OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Stock Options</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRWorJnhqvNc" style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zlntA9renUm6" style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">60</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Stock Warrants</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zM5tes7KTZa" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">111,932</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zt22Rh7qyBR8" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">135,725</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Unvested restricted stock</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_ziQ1XBlUpRa9" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zaZOZ38j94Hd" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">117</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Convertible Debt</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zadTQYWGAgi6" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,293,971</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zsFdubolj81a" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">510,674</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930_zjRj7iczs6t1" style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,406,021</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930_zQ6W7BJxm8Kh" style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">646,576</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A6_ztUc5Ua4Aso2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> Each holder of the notes has agreed to a 4.99% beneficial ownership conversion limitation (subject to certain noteholders’ ability to increase such limitation to 9.99% upon 60 days’ notice to the Company), and each note may not be converted during the first six-month period from the date of issuance. The securities for the period ended September 30, 2021 and 2020 were considered dilutive securities which were excluded from the computation since the effect is anti-dilutive. 0.0499 0.0999 <p id="xdx_89A_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zLusIxCV0JF5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B8_z5qGGqx37Jgb" style="display: none">SCHEDULE OF DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Stock Options</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zRWorJnhqvNc" style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zlntA9renUm6" style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">60</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Stock Warrants</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zM5tes7KTZa" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">111,932</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zt22Rh7qyBR8" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">135,725</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Unvested restricted stock</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_ziQ1XBlUpRa9" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--UnvestedRestrictedStockMember_zaZOZ38j94Hd" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">117</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Convertible Debt</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zadTQYWGAgi6" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,293,971</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_981_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--ConvertibleDebtSecuritiesMember_zsFdubolj81a" style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">510,674</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_989_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20210701__20210930_zjRj7iczs6t1" style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">23,406,021</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20200701__20200930_zQ6W7BJxm8Kh" style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">646,576</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 59 60 111932 135725 59 117 23293971 510674 23406021 646576 <p id="xdx_841_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zFYh4pSJ2Re4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline"><span id="xdx_863_zJh69seVZbtk">Recent Accounting Pronouncements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. We have carefully considered the new pronouncements that alter previous generally accepted accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of the Company’s financial management.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In August 2020, the FASB issued ASU 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40)”. This ASU reduces the number of accounting models for convertible debt instruments and convertible preferred stock. As well as amend the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. In addition, this ASU improves and amends the related EPS guidance. This standard is effective for us on July 1, 2022, including interim periods within those fiscal years. Adoption is either a modified retrospective method or a fully retrospective method of transition. The Company is currently assessing the impact the new guidance will have on our consolidated financial statements.</span></p> <p id="xdx_803_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_ziUB31Kjwqvc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 2 – <span id="xdx_82D_z3Eip7SGNUxj">GOING CONCERN</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with US GAAP, which contemplate continuation of the Company as a going concern. For the three months ended September 30, 2021, the Company had no revenues, had a net loss of $<span id="xdx_90C_eus-gaap--ProfitLoss_iN_pp0p0_di_c20210701__20210930_zZ86ZTKlE3f">490,658</span>, and had net cash used in operations of $<span id="xdx_90B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pp0p0_di_c20210701__20210930_z7zDthEysJmg">486,758</span>. Additionally, as of September 30, 2021, the Company had a working capital deficit, stockholders’ deficit and accumulated deficit of $<span id="xdx_901_ecustom--WorkingCapitalDeficit_iI_pp0p0_c20210930_zmFMtHUfZicd">2,312,387</span>, $<span id="xdx_90A_eus-gaap--StockholdersEquity_iNI_pp0p0_di_c20210930_ztn1uKQgbUUb">2,306,630</span> and $<span id="xdx_900_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pp0p0_di_c20210930_zUtdVGNRXych">58,804,968</span>, respectively. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the issue date of this Quarterly Report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The unaudited condensed consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Successful completion of the Company’s development program and, ultimately, the attainment of profitable operations are dependent upon future events, including obtaining adequate financing to fulfill its development activities, acceptance of the Company’s patent applications, obtaining additional sources of suitable and adequate financing and ultimately achieving a level of sales adequate to support the Company’s cost structure and business plan. The Company’s ability to continue as a going concern is also dependent on its ability to further develop and execute on its business plan. However, there can be no assurances that any or all of these endeavors will be successful.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In March 2020, the outbreak of COVID-19 (coronavirus) caused by a novel strain of the coronavirus was recognized as a pandemic by the World Health Organization, and the outbreak has become increasingly widespread in the United States, Europe and Australia, including in each of the areas in which the Company operates. The COVID-19 (coronavirus) outbreak has had a notable impact on general economic conditions, including but not limited to the temporary closures of many businesses, “shelter in place” and other governmental regulations, reduced business and consumer spending due to both job losses, reduced investing activity and M&amp;A transactions, among many other effects attributable to the COVID-19 (coronavirus), and there continue to be many unknowns. While to date the Company has not been required to stop operating, management is evaluating its use of its office space, virtual meetings and the like. The Company continues to monitor the impact of the COVID-19 (coronavirus) outbreak closely. The extent to which the COVID-19 (coronavirus) outbreak will impact our operations, ability to obtain financing or future financial results is uncertain.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> -490658 -486758 2312387 -2306630 -58804968 <p id="xdx_80B_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zepSISzbskde" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 3 – <span id="xdx_82B_z2gR3jESkmWk">PROPERTY AND EQUIPMENT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_897_eus-gaap--PropertyPlantAndEquipmentTextBlock_zg8Ghbs3Cm4d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Property and equipment consist of the following as of September 30, 2021 and June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BD_zxaUS1cN4CT3" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20210930_zAUwbf34Hci3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20210630_zkfliRIteW57" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Unaudited)</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_maPPAENzBVB_zWa3ZPXSA1sj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Office equipment at cost</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">27,532</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">28,623</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_msPPAENzBVB_zJIDwd7Qqdoa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Less: Accumulated depreciation</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(23,939</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(24,368</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_mtPPAENzBVB_zCIlyNdbrAOk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total property, plant, and equipment</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,593</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,255</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8AD_zkLpjrunY5Y2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Depreciation expense for the three months ended September 30, 2021 and 2020 were $<span id="xdx_90D_eus-gaap--Depreciation_pp0p0_c20210701__20210930_zRmSWSeRcGnc">509</span> and $<span id="xdx_90C_eus-gaap--Depreciation_pp0p0_c20200701__20200930_z5geXjYMtJb2">438</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p id="xdx_897_eus-gaap--PropertyPlantAndEquipmentTextBlock_zg8Ghbs3Cm4d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Property and equipment consist of the following as of September 30, 2021 and June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BD_zxaUS1cN4CT3" style="display: none">SCHEDULE OF PROPERTY AND EQUIPMENT</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20210930_zAUwbf34Hci3" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_49C_20210630_zkfliRIteW57" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Unaudited)</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_maPPAENzBVB_zWa3ZPXSA1sj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Office equipment at cost</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">27,532</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">28,623</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_msPPAENzBVB_zJIDwd7Qqdoa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Less: Accumulated depreciation</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(23,939</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(24,368</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pp0p0_mtPPAENzBVB_zCIlyNdbrAOk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Total property, plant, and equipment</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">3,593</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,255</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 27532 28623 23939 24368 3593 4255 509 438 <p id="xdx_803_ecustom--DueToFormerDirectorRelatedPartyDisclosureTextBlock_zYCHdB7lkeA7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 4 – <span id="xdx_820_z7yy1mR29q99">DUE TO FORMER DIRECTOR - RELATED PARTY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Due to former director - related party represents unsecured advances made primarily by a former director for operating expenses on behalf of the Company such as intellectual property and formation expenses. The expenses were paid for on behalf of the Company and are due upon demand. The Company is currently not being charged interest under these advances. The total amount owed the former director at September 30, 2021 and June 30, 2021 were $<span id="xdx_90E_eus-gaap--DueToRelatedPartiesCurrent_iI_pp0p0_c20210930_zJxA1xS5YYVd">32,076</span> and $<span id="xdx_906_eus-gaap--DueToRelatedPartiesCurrent_iI_pp0p0_c20210630_zbE0QKQMtL6g">33,347</span>, respectively. The Company plans to repay the advances as its cash resources allow (see Note 9).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 32076 33347 <p id="xdx_80A_ecustom--LoansAndNotesPayableDisclosureTextBlock_zS4pzWmIuk09" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 5 – <span id="xdx_822_zntXa5mgWi7c">LOANS AND NOTES PAYABLE</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Loan from Former Director - Related Party</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Loan from the Company’s former director at September 30, 2021 and June 30, 2021 were $<span id="xdx_907_eus-gaap--LoansPayable_iI_pp0p0_c20210930__srt--TitleOfIndividualAxis__custom--DirectorsAndOfficerMember_zjrzMBd5GgQ">53,384</span> and $<span id="xdx_906_eus-gaap--LoansPayable_iI_pp0p0_c20210630__srt--TitleOfIndividualAxis__custom--DirectorsAndOfficerMember_zi5UsTPh9Iy4">55,500</span>, respectively. The loan bears no interest and is payable on demand. The Company did not repay any amount on this loan during the three months ended September 30, 2021 and 2020, respectively (see Note 9).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 53384 55500 <p id="xdx_800_eus-gaap--DebtDisclosureTextBlock_zc2SqHBxedb7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 6 – <span id="xdx_82C_zKhRExlhfXl9">CONVERTIBLE NOTES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_897_eus-gaap--ConvertibleDebtTableTextBlock_zjBtvrzAXz4j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company’s convertible notes outstanding at September 30, 2021 and June 30, 2021 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B0_zcA9zJu0m1X9" style="display: none">SCHEDULE OF CONVERTIBLE NOTES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_491_20210930_zAp0KEWZ480k" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_497_20210630_zyLLJTngGXul" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Unaudited)</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentCarryingAmount_iI_pp0p0_maLTDzcuB_zeR5AoxnitQ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Convertible notes and debenture</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 17%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">377,780</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 15%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">400,128</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pp0p0_di_msLTDzcuB_z1VTqFyrK7xb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Unamortized discounts</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,565</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,139</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40C_eus-gaap--DepositLiabilitiesAccruedInterest_iI_pp0p0_maLTDzcuB_zzTn53DC3CG" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">37,348</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">34,098</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_maLTDzcuB_ztrTE0IiZtYh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Premium, net</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">177,045</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">196,496</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--LongTermDebt_iTI_pp0p0_mtLTDzcuB_zuIe10MIoIM4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Convertible notes, net</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">584,608</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">624,583</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A6_zemr5ZC68yq2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Convertible Note Issued with Consulting Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>August 10, 2017 Consulting Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On August 10, 2017, the Company entered into a consulting agreement, retroactive to May 16, 2017, with a certain consultant, pursuant to which the consultant agreed to provide certain consulting and business advisory services in exchange for a $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zdMEwkoDhrF5" title="Convertible debt principal amount">310,000</span> junior subordinated convertible note. The maturity date of the August 10, 2017 Convertible Note was August 2019 and is currently past due (see Note 8). The note accrues interest at a rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zHsGPhEkIvh9" title="Debt instrument, interest rate, stated percentage">10</span>% per annum and is convertible into common stock at the lesser of $<span id="xdx_90E_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zBByegCwFfaf" title="Debt conversion of converted amount">750</span> or <span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zJcps9fyr4oh" title="Common stock trading volume, percent">65</span>% of the three lowest trades in the <span id="xdx_906_eus-gaap--DebtInstrumentConvertibleThresholdTradingDays_dc_uInteger_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zGmOAN9OUAw9" title="Common stock trading days">ten</span> trading days prior to the conversion. The note was fully earned upon signing the agreement and matures on <span id="xdx_909_eus-gaap--DebtInstrumentMaturityDate_dd_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zyP7hAcsqzb6" title="Debt maturity date">August 10, 2019</span>. The Company accrued $<span id="xdx_906_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0_c20170630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zaaitofopWHl" title="Accrued expenses">155,000</span> related to this expense at June 30, 2017 and recorded the remaining $<span id="xdx_90A_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0_c20180630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zRQ09peme5id" title="Accrued expenses">155,000</span> related to this expense in fiscal year 2018. Upon an event of default, principal and accrued interest will become immediately due and payable under the note. Additionally, upon an event of default, at the election of the holder, the note would accrue interest at a default interest rate of <span id="xdx_90B_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20170807__20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zcUwSkiztpM2" title="Debt instrument, default, interest rate">18</span>% per annum or the highest rate of interest permitted by law. The consulting agreement had a three-month term and expired on August 16, 2017. An aggregate total of $<span id="xdx_901_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20170810__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zMHkB6YPayh3" title="Embedded derivative, fair value of embedded derivative liability">578,212</span> of this note was bifurcated with the embedded conversion option recorded as a derivative liability at fair value. During the year ended June 30, 2018, the consultant converted $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20180630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantMember_zt0fOKSSrOwc" title="Convertible debt principal amount">140,000</span> of principal and $<span id="xdx_90A_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20180630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantMember_zMhXsq0UfDqe" title="Accrued interest">10,764</span> of interest. During the year ended June 30, 2019, the consultant converted an additional $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20190630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantMember_zvWNRi3Fyayl" title="Convertible debt principal amount">161,000</span> of principal and $<span id="xdx_90B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20190630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ConsultantMember_z9Di3nlU5iTd" title="Accrued interest">19,418 </span>of interest leaving a principal balance owed of $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20190630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_znM13bvcFSY8" title="Convertible debt principal amount">9,000</span> at June 30, 2019. During the year ended June 30, 2020, the consultant converted an additional $<span id="xdx_902_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zrkFm4TR9TSb" title="Debt conversion of converted amount">500</span> of principal and $<span id="xdx_903_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zViIFvWqXmf1" title="Accrued expenses">5,248</span> of interest such that the remaining principal outstanding and accrued interest under this note as of June 30, 2020 was $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zNhyMipK3bs6" title="Convertible debt principal amount">8,500</span> and $<span id="xdx_900_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember_zPMxfvm3VEyh" title="Accrued interest">22,168</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On March 15, 2021, the Company entered into a Settlement and Mutual Release Agreement (the “Settlement Agreement”) with the consultant whereby both parties agreed to settle all claims and liabilities under the August 10, 2017 Convertible note for a total of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zX5bYvBALoPi" title="Convertible debt principal amount">100,000</span> in the form of a convertible note. All other terms of the August 10, 2017 Convertible Note shall remain in full force and effect. Both parties agree that all future penalties under this note are waived unless the Company fails to authorize to distribute the requested shares upon conversion. The Company has the right to pay off the balance of any remaining amounts dues under this note in cash at any time more than 60 days after March 15, 2021. Prior to the Settlement Agreement, the Company recorded total liabilities $<span id="xdx_901_eus-gaap--Liabilities_iI_pp0p0_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zsfI8VwYYoO8" title="Liabilities">56,762</span> consisting of remaining principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zBR1G1YGjlg7" title="Original issue discount">8,500</span>, accrued interest of $<span id="xdx_90C_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_z9lTGAIR1brb" title="Accrued interest">23,262</span> and accrued expenses of $<span id="xdx_902_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iI_pp0p0_c20210315__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zE7X1tZJDwK8" title="Accrued expenses">25,000</span>. Accordingly, the Company recognized loss from settlement of debt of $<span id="xdx_902_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zoqeBx07G0Ua" title="Loss from settlement of debt">43,238</span> during the year ended June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal outstanding after adjustment due to the above-mentioned March 15, 2021 settlement agreement and accrued interest under the August 10, 2017 Convertible Note was $<span id="xdx_907_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zMbLpH92Hkg">80,000</span> and $<span id="xdx_906_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zlG84V2LUGeg">3,738</span>, respectively, as of June 30, 2021 following conversion of $<span id="xdx_902_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_z4opLBtZGvtc">20,000</span> of principal during the year ended June 30, 2021. The total principal amount outstanding under the August 10, 2017 Convertible Note was $<span id="xdx_900_eus-gaap--ConvertibleNotesPayable_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zrpiKNB5yqQ7">80,000</span> and accrued interest of $<span id="xdx_900_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--AugustTenTwoThousandAndSeventeenConsultingAgreementMember__us-gaap--ShortTermDebtTypeAxis__custom--SettlementAndMutualReleaseAgreementMember_zhUGxkUaTiWb">7,381</span> as of as of September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Auctus Fund Financing Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>August 30, 2019 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Effective August 30, 2019, the Company entered into a securities purchase agreement with Auctus Fund, LLC (“Auctus”), pursuant to which Auctus purchased a convertible promissory note (the “August 30, 2019 Auctus Note”) from the Company in the aggregate principal amount of $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zV8IsENUgnMc" title="Convertible debt principal amount">550,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Auctus. The transaction closed on August 30, 2019 and the Company received payment on September 4, 2019 in the amount of $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zmX45L2RKm67" title="Convertible debt principal amount">550,000</span>, of which $<span id="xdx_909_eus-gaap--LegalFees_pp0p0_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zM4ZDYGnUbY3" title="Legal fees">5,000</span> was paid directly toward legal fees and $<span id="xdx_903_ecustom--DiligenceFees_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zqsWa63arAJ7" title="Diligence fees">40,000</span> to Auctus for due diligence fees resulting in net cash proceeds of $<span id="xdx_90F_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zr4THCD44Xg1" title="Proceeds from convertible debt">505,000</span>. The maturity date of the August 30, 2019 Auctus Note was <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_dd_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zDR9BpwAdgR3" title="Debt maturity date">August 30, 2020</span> and was currently past due. The August 30, 2019 Auctus Note bore interest at a rate of <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zkdy5Q17THL2" title="Debt instrument, interest rate, stated percentage">10</span>% per annum, but not payable until the August 30, 2019 Auctus Note became payable, whether at the maturity date or upon acceleration or by prepayment. The note was treated as stock settled debt under ASC 480 and accordingly the Company recorded a $<span id="xdx_903_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zRiHwC088mR2" title="Debt premium amount">366,667</span> put premium. The August 30, 2019 Auctus Note may not be prepaid without the written consent of Auctus. Any amount of principal or interest which was not paid when due shall bear interest at the rate of <span id="xdx_908_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zHKxsto7eDza" title="Debt instrument, default, interest rate">24</span>% per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Additionally, Auctus had the option to convert all or any amount of the principal face amount and accrued interest of the August 30, 2019 Auctus Note, at any time following the issue date and ending on the later of the maturity date or the date of payment of the Default Amount if an event of default occurs, which was an amount equal to <span id="xdx_90D_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zTkSILK2Z3fc" title="Percentage of outstanding shares of common stock">125</span>% of an amount equal to the then outstanding principal amount of the August 30, 2019 Auctus Note (but not less than $15,000) plus any interest accrued from August 30, 2019 at the default interest rate of <span id="xdx_907_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zfhrvGYHWUR1" title="Debt instrument, default, interest rate">24</span>% per annum, for shares of the Company’s common stock at the then-applicable conversion price. Upon the holder’s election to convert accrued interest, default interest or any penalty amounts as stipulated, the Company may elect to pay those amounts in cash. The note may also be prepaid by the Company at any time between the date of issuance and August 13, 2020 at 135% multiplied by the sum of (a) the then outstanding principal amount plus (b) accrued and unpaid interest plus (c) default interests, if any.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The conversion price for the August 30, 2019 Auctus Note was equal to the Variable Conversion Price of <span id="xdx_908_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_dp_uPure_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zXKSok3ltqR6" title="Common stock trading volume, percent">60</span>% of the Market Price on the date of conversion. Notwithstanding the foregoing, Auctus shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Auctus and its affiliates, exceeds <span id="xdx_90E_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20190903__20190904__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zH6BNNz0fSne" title="Percentage of outstanding shares of common stock">4.99</span>% of the outstanding shares of the Company’s common stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In connection with the issuance of the August 2019 Auctus Note, the Company issued common stock purchase warrants to Auctus to purchase <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--FirstWarrantMember_zpcbk22qeGsg" title="Warrants to purchase of common stock, shares">450</span> shares of the Company’s common stock (the “First Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such First Warrant at an “Exercise Price” of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--FirstWarrantMember_zeOwLVNv5Yi7" title="Warrants exercise price per share">2,250</span>. In connection with the issuance of the Note, the Company issued a common stock purchase warrant to Buyer to purchase <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--SecondWarrantMember_zRTJsLcNKxb1" title="Warrants to purchase of common stock, shares">300</span> shares of the Company’s common stock (the “Second Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such Second Warrant at an “Exercise Price” of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--SecondWarrantMember_zrIQtzyExSJ" title="Warrants exercise price per share">3,330</span>. In connection with the issuance of the Note, the Company shall issue a common stock purchase warrant to Buyer to purchase <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--ThirdWarrantMember_zAKe3tNeY5C6" title="Warrants to purchase of common stock, shares">225</span> shares of the Company’s common stock (the “Third Warrant”) as a commitment fee upon the terms and subject to the limitations and conditions set forth in such Third Warrant at an “Exercise Price” of $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember__us-gaap--StatementEquityComponentsAxis__custom--ThirdWarrantMember_zBKfggn3dT37" title="Warrants exercise price per share">4,500</span>. The First Warrant, Second Warrant, and Third Warrant were collectively be referred as the “Warrants”. The Warrants have an “Exercise Period” of five years from the date of issuance being August 30, 2019. Under the terms of the Purchase Agreement and the Warrants, the Selling Security Holder may not either convert the Notes nor exercise the Warrants to the extent (but only to the extent) that the Selling Security Holder or any of its affiliates would beneficially own a number of shares of our Common Stock which would exceed <span id="xdx_904_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zhyEK3pmLq55" title="Percentage of outstanding shares of common stock">4.99</span>% of our outstanding shares. The Company accounted for the warrants by using the relative fair value method and recorded debt discount from the relative fair value of the warrants of $<span id="xdx_901_eus-gaap--FairValueAdjustmentOfWarrants_pp0p0_c20190829__20190830__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zHrxPgIwkxO6" title="Fair value of warrants">375,905</span> using a simple binomial lattice model.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In connection with the Purchase Agreement, the Company and the Purchaser entered into a Registration Rights Agreement (the “Registration Rights Agreement”). Pursuant to the Registration Rights Agreement, the Company agreed to register the shares of Common Stock underlying the Securities in a Registration Statement with the SEC as well as the Commitment Shares (as defined herein). The Registration Rights Agreement contains customary representations, warranties, agreements and indemnification rights and obligations of the parties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Note was subject to customary default provisions and also includes a cross-default provision which provides that a breach or default by the Borrower of any covenant or other term or condition contained in any of the Other Agreements (as defined therein), after the passage of all applicable notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the Other Agreements. Upon occurrence of any such event, the Holder was entitled (but in no event required) to apply all rights and remedies of the Holder under the terms of this Note and the Other Agreements by reason of a default under said Other Agreements or the Note.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The August 30, 2019 Auctus Note contained certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal accrued at a default interest rate of 24% per annum.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amount outstanding under the above Auctus financing agreement, specifically the August 30, 2019 Auctus Note, was $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_iI_c20190630__us-gaap--TypeOfArrangementAxis__custom--AuctusFinancingAgreementMember_zu1KVqEJdIm6">358,965</span> and accrued interest of $<span id="xdx_90F_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zfTyoyOT5roe" title="Accrued interest">486</span> as of June 30, 2020 following conversion of $<span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zYryjWAnVksd" title="Debt conversion of converted amount">191,035</span> of the principal balance and $<span id="xdx_903_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_z0TW5PAWVlu" title="Accrued interest">43,176</span> of accrued interest during the year ended June 30, 2020. Accordingly, $<span id="xdx_90C_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zerbcq66mLU1" title="Debt premium amount">127,356</span> of the put premium was released in respect of the August 30, 2019 Auctus Note during the year ended June 30, 2020 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amount outstanding under the above Auctus financing agreement, specifically the August 30, 2019 Auctus Note, was $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--AuctusFinancingAgreementMember_z204cLvGUN53">32,848</span> and accrued interest of $<span id="xdx_906_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_z1fqVwhhr6Q9">0</span> as of June 30, 2021 following conversion of $<span id="xdx_90C_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_z4cgVEaFq4xf">326,117</span> of the principal balance and $<span id="xdx_90B_ecustom--DebtConversionConvertedInterestPayable_pp0p0_c20200701__20210630__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zh48bNCa2wFg">39,536</span> of accrued interest during the year ended June 30, 2021. Accordingly, $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zG2iHHvRnVEa">217,411</span> of the put premium was released in respect of the August 30, 2019 Auctus Note during the year ended June 30, 2021 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amount outstanding under the above Auctus financing agreement, specifically the August 30, 2019 Auctus Note, was $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_c20210930__us-gaap--TypeOfArrangementAxis__custom--AuctusFinancingAgreementMember_zxfOWZcGYCKf" title="Convertible debt principal amount">0</span> and accrued interest of $<span id="xdx_90E_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zFwYUbViB34h" title="Accrued interest">0</span> as of September 30, 2021 following conversion of $<span id="xdx_90A_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_zUicSgLdvtrj" title="Debt conversion of converted amount">32,848</span> of the principal balance and $<span id="xdx_900_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_ztM82l9WU34i" title="Debt conversion of accrued interest">716</span> of accrued interest during the three months ended September 30, 2021. Accordingly, $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--AuctusFundLLCMember__us-gaap--DebtInstrumentAxis__custom--AugustTwoThousandNineteenAuctusNoteMember_z55t0Mkeh9v" title="Debt premium amount">21,899</span> of the put premium was released in respect of the August 30, 2019 Auctus Note during the three months ended September 30, 2021 following conversion of the principal balance. Accordingly, there was no outstanding principal balance as of September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Crown Bridge Securities Purchase Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Effective October 3, 2019, the Company entered into a securities purchase agreement with Crown Bridge Partners, pursuant to which Crown Bridge purchased a convertible promissory note (the “October 3, 2019 Crown Bridge Note”) from the Company in the aggregate principal amount of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zXZUNdqIui1g" title="Convertible debt principal amount">108,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Crown Bridge any time from the of issuance of the of the October 3, 2019 Crown Bridge Note. The transactions contemplated by the Crown Bridge Securities Purchase Agreement closed on October 3, 2019. Pursuant to the terms of the Crown Bridge Securities Purchase Agreement, Crown Bridge deducted $<span id="xdx_900_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_pp0p0_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zhXRStu3jAN6" title="Debt instrument principal payment">3,000</span> from the principal payment due under the October 3, 2019 Crown Bridge Note, at the time of closing, to be applied to its legal expenses, and there was a $<span id="xdx_901_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zetTnujDFiNf" title="Original issue discount">5,000</span> original issuance discount resulting in $<span id="xdx_903_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_z0CsAu11Ipuf" title="Proceeds from convertible debt">100,000</span> net proceeds to the Company. The Company intends to use the net proceeds from the October 3, 2019 Crown Bridge Note for general working capital purposes. The maturity date of the October 3, 2019 Crown Bridge was October 3, 2020 and is currently past due. The <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zoae1JxdAsQh" title="Debt maturity date">October 3, 2019</span> Crown Bridge Note bears interest at a rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zQQ255xvCjDc" title="Debt instrument, interest rate, stated percentage">10</span>% per annum, which interest may be paid by the Company to Crown Bridge in shares of the Company’s common stock; but shall not be payable until the October 2019 Crown Bridge Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Additionally, Crown Bridge has the option to convert all or any amount of the principal face amount of the October 3, 2019 Crown Bridge Note at any time from the date of issuance and ending on the later of the maturity date or the date the Default Amount is paid if an event of default occurs, which is an amount between <span id="xdx_90B_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember__srt--RangeAxis__srt--MinimumMember_znQ30TSyPxg2" title="Debt instrument, default, interest rate">110</span>% and <span id="xdx_909_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember__srt--RangeAxis__srt--MaximumMember_zzQvuvFG1Mpb" title="Debt instrument, default, interest rate">150</span>% of an amount equal to the then outstanding principal amount of the October 3, 2019 Crown Bridge Note plus any interest accrued, for shares of the Company’s common stock at the then-applicable conversion price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_eus-gaap--DebtInstrumentDescription_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zoS7xQeAQNu4">The conversion price for the October 3, 2019 Crown Bridge Note shall be equal to a 40% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, Crown Bridge shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Crown Bridge and its affiliates, exceeds <span id="xdx_904_ecustom--PercentageOfOutstandingSharesOfCommonStock_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember__srt--RangeAxis__srt--MinimumMember_zRdEc6aixyRc" title="Percentage of outstanding shares of common stock">4.99</span>% of the outstanding shares of the Company’s common stock which may be increased up to <span id="xdx_90F_ecustom--PercentageOfOutstandingSharesOfCommonStock_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember__srt--RangeAxis__srt--MaximumMember_zhtu86bdy1Sk" title="Percentage of outstanding shares of common stock">9.99</span>% upon 60 days prior written notice by the Crown Bridge to the Company. The note is treated as stock settled debt under ASC 480 and accordingly the Company recorded a $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zBHIVjm47c4k" title="Debt premium amount">72,000</span> put premium.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The October 3, 2019 Crown Bridge Note contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal shall accrue at a default interest rate of <span id="xdx_90E_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20191001__20191003__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zOHqQWtgwzRh" title="Debt instrument, default, interest rate">15</span>% per annum, or if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amount outstanding under the above Crown Bridge financing agreement was $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zdFkwsqeea91" title="Convertible debt principal amount">65,280</span> and accrued interest of $<span id="xdx_90E_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_z34GfxgvFSQ" title="Accrued interest">7,232</span> as of as of June 30, 2020 following conversion of $<span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20190701__20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zEZy8QoDC4Vd" title="Debt conversion of converted amount">42,720</span> of the principal balance during the year ended June 30, 2020. Accordingly, $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20200630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zded0iHOmySh" title="Debt premium amount">28,480</span> of the put premium was released in respect of the October 3, 2019 Crown Bridge Note during the year ended June 30, 2020 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">There were <span id="xdx_909_ecustom--UnissuedSharesConversion_c20200915__20200916__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember_zXlDsNhWk6Je" title="Unissued shares conversion">15,000</span> unissued shares which were considered issuable for accounting purposes during the 1^st quarter of fiscal 2021 related to a conversion notice dated and received on September 16, 2020. In November 2020, the Company was notified by the note holder of the cancellation of this conversion notice as a result of the reverse stock split and as such the Company reversed the effects of this transaction thereby increasing the principal balance by $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember_zy32wXzjQvLj" title="Convertible debt principal amount">9,600</span> and put premium by $<span id="xdx_907_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember_zq3jN7FvTuX2" title="Debt premium amount">6,400</span> and a corresponding decrease in equity of $<span id="xdx_90E_ecustom--DueToEquityConversion_iI_pp0p0_c20201130__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember_zUybJvNFcnPb" title="Due to equity conversion">16,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amount outstanding under the above Crown Bridge financing agreement was $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zOJBdPnY5H41" title="Convertible debt principal amount">65,280</span> and accrued interest of $<span id="xdx_909_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zodzjcK19hV8" title="Accrued interest">16,138</span> as of June 30, 2021. The total principal amount outstanding under the above Crown Bridge financing agreement was $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zLpmI8hWX2ka">65,280</span> and accrued interest of $<span id="xdx_902_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--CrownBridgePartnersLLCMember__us-gaap--DebtInstrumentAxis__custom--OctoberThreeTwoThousandNineteenAuctusNoteMember_zOnEQT0IP02c">18,606</span> as of as of September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>GW Holdings Securities Purchase Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>December 10, 2020 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Effective December 10, 2020, the Company entered into a securities purchase agreement with GW Holdings, pursuant to which GW Holdings purchased a convertible promissory note (the “December 10, 2020 GW Note”) from the Company in the aggregate principal amount of $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zMtcOjSqoMlg" title="Convertible debt principal amount">131,000</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of GW Holdings anytime from the issuance of the December 10, 2020 GW Holdings Note. The transactions contemplated by the GW Holdings Securities Purchase Agreement closed on December 10, 2020. Pursuant to the terms of the GW Holdings Securities Purchase Agreement, the lender deducted $<span id="xdx_900_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_pp0p0_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zmu64tgjRdE9" title="Debt instrument principal payment">6,000</span> from the principal payment due under the December 10, 2020 GW Note, at the time of closing, to be applied to its legal expenses. The Company intends to use the net proceeds of $<span id="xdx_90F_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zu5jh9QSR7A2" title="Proceeds from convertible debt">125,000</span> from the December 10, 2020 GW Note for general working capital purposes. The maturity date of the December 10, 2020 GW Holdings is <span id="xdx_904_eus-gaap--DebtInstrumentMaturityDate_dd_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zdVj5PT9Jq14" title="Debt maturity date">December 10, 2021</span>. The December 10, 2020 GW Holdings Note bears interest at a rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zqOjTWqM9AJk" title="Debt instrument, interest rate, stated percentage">8</span>% per annum, which interest may be paid by the Company to GW Holdings in shares of the Company’s common stock; but shall not be payable until the December 10, 2020 GW Holdings Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The above notes issued to GW Holdings contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal shall accrue at a default interest rate of <span id="xdx_90B_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zq1TRF6QimY" title="Debt instrument, default, interest rate">24</span>% per annum, or if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Additionally, GW Holdings has the option to convert all or any amount of the principal face amount of the notes issued to GW Holdings at any time from the date of issuance and ending on the later of the maturity date or the date the Default Amount is paid if an event of default occurs, which is an amount between <span id="xdx_906_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember__srt--RangeAxis__srt--MinimumMember_z466YXX0CMg6" title="Debt instrument, default, interest rate">110</span>% and <span id="xdx_901_ecustom--DebtInstrumentDebtDefaultInterestRate_dp_uPure_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember__srt--RangeAxis__srt--MaximumMember_zmnjePezzi72" title="Debt instrument, default, interest rate">150</span>% of an amount equal to the then outstanding principal amount of such notes plus any interest accrued, for shares of the Company’s common stock at the then-applicable conversion price.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_903_eus-gaap--DebtInstrumentDescription_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember">The conversion price for the above GW Holdings notes shall be equal to a 40% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, GW Holdings shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by GW Holdings and its affiliates, exceeds <span id="xdx_908_ecustom--PercentageOfOutstandingSharesOfCommonStock_dp_uPure_c20201209__20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zfol6OLSWkHl">4.99</span>% of the outstanding shares of the Company’s common stock which may be increased up to 9.99% upon 60 days prior written notice by the GW Holdings to the Company.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">These notes are treated as stock settled debt under ASC 480 and accordingly the Company recorded a total of $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20201210__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember_z8VirPDudh83">87,333</span> put premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amount outstanding under the above December 10, 2020 GW Holdings financing agreement, was $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20200930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zvG2tpfICtk5" title="Convertible debt principal amount">90,000</span> and accrued interest of $<span id="xdx_90B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20200930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zwYws47GK557" title="Accrued interest">4,636</span> as of June 30, 2021 following conversion of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zXR3wCXR2ii3" title="Convertible debt principal amount">41,000</span> of the principal balance and $<span id="xdx_905_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_z1FNGBZ4TcMj" title="Accrued interest">1,084</span> of accrued interest during the year ended June 30, 2021. Accordingly, $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zlSogXBHc4dd">27,333</span> of the put premium was reclassed to additional paid in capital in respect of the October 1, 2019 GW Holdings Note during the year ended June 30, 2021 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amount outstanding under the above December 10, 2020 GW Holdings financing agreement, was $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zzpkMkBnkq3l">65,000</span> and accrued interest of $<span id="xdx_90A_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_z7eA13hE3B25">4,174</span> as of September 30, 2021 following conversion of $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zVSSWJquEqpe">25,000</span> of the principal balance and $<span id="xdx_900_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zxVIWppMhhGa">2,091</span> of accrued interest during the three months ended September 30, 2021. Accordingly, $<span id="xdx_908_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__dei--LegalEntityAxis__custom--GWHoldingsGroupLLCMember__us-gaap--DebtInstrumentAxis__custom--DecemberTenTwoThousandTwentyGWNoteMember_zbFlv2euddve">16,667</span> of the put premium was reclassed to additional paid in capital in respect of the October 1, 2019 GW Holdings Note during the three months ended September 30, 2021 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Geneva Roth Remark Securities Purchase Agreements</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>January 5, 2021 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Effective January 5, 2021, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc., pursuant to which Geneva Roth purchased a convertible promissory note (the “January 5, 2021 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210105__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryFiveTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zNMXuLqV0FHa" title="Convertible debt principal amount">68,500</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six-month anniversary of the January 5, 2021 Geneva Roth. The January 5, 2021 Geneva Roth contained an original issue discount of $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20210105__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryFiveTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zxUbSVxlT5Ch">3,500</span>. The Company intended to use the net proceeds from the January 5, 2021 Geneva Roth for general working capital purposes. The maturity date of the January 5, 2021 Geneva Roth Note was January 5, 2022. The January 5, 2021 Geneva Roth Note bore interest at a rate of <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20201202__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--JanuaryFiveTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_z8prCVROnlg6">8</span>% per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the January 5, 2021 Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>March 16, 2021 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Effective March 16, 2021, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc., pursuant to which Geneva Roth purchased a convertible promissory note (the “March 16, 2021 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210316__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchSixteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zRQ6XM5pGns4" title="Convertible debt principal amount">63,500</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six-month anniversary of the March 16, 2021 Geneva Roth. The March 16, 2021 Geneva Roth contained an original discount of $<span id="xdx_906_eus-gaap--DebtConversionOriginalDebtAmount1_pp0p0_c20210315__20210316__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchSixteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zzskKUm0Wwrd" title="Debt conversion, original debt amount">3,500</span>. The Company intended to use the net proceeds from the March 16, 2021 Geneva Roth for general working capital purposes. The maturity date of the March 16, 2021 Geneva Roth Note was March 16, 2022. The March 16, 2021 Geneva Roth Note bears interest at a rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210316__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--MarchSixteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_za2yJLfmOH5c" title="Debt instrument, interest rate, stated percentage">8</span>% per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the March 16, 2021 Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>August 19, 2021 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Effective August 19, 2021, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc., pursuant to which Geneva Roth purchased a convertible promissory note (the “August 19, 2021 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210819__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--AugustNineteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_ztnbtalxNhr3">103,750</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six-month anniversary of the August 19, 2021 Geneva Roth. The August 19, 2021 Geneva Roth contains an original discount of $<span id="xdx_901_eus-gaap--DebtConversionOriginalDebtAmount1_pp0p0_c20210818__20210819__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--AugustNineteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zrlREIRbsh97">3,750</span>. The Company intends to use the net proceeds from the August 19, 2021 Geneva Roth for general working capital purposes. The maturity date of the August 19, 2021 Geneva Roth Note is August 19, 2022. The August 19, 2021 Geneva Roth Note bears interest at a rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210819__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--AugustNineteenTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zPlJepj8LM52">8</span>% per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the August 19, 2021 Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>September 22, 2021 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Additionally, effective September 22, 2021, the Company entered into a securities purchase agreement with Geneva Roth Remark Holdings, Inc., pursuant to which Geneva Roth purchased a convertible promissory note (the “September 22, 2021 Geneva Roth”) from the Company in the aggregate principal amount of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zOYq6eOFZ5ek">63,750</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Geneva Roth any time after the six-month anniversary of the September 22, 2021 Geneva Roth. The September 22, 2021 Geneva Roth contains an original discount of $<span id="xdx_90E_eus-gaap--DebtConversionOriginalDebtAmount1_pp0p0_c20210921__20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zNZime7T8LN2">3,750</span>. The Company intends to use the net proceeds from the September 22, 2021 Geneva Roth for general working capital purposes. The maturity date of the September 22, 2021 Geneva Roth Note is September 22, 2022. The September 22, 2021 Geneva Roth Note bears interest at a rate of <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zWSiuiI86P3k">8</span>% per annum, which interest may be paid by the Company to Geneva Roth in shares of the Company’s common stock; but shall not be payable until the September 22, 2021 Geneva Roth Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During the first 60 to 180 days following the date of these notes, the Company has the right to prepay the principal and accrued but unpaid interest due under the above notes issued to Geneva Roth, together with any other amounts that the Company may owe the holder under the terms of the note, at a premium ranging from <span id="xdx_90A_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20210921__20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember__srt--RangeAxis__srt--MinimumMember_zaZJaariTFqc">110</span>% to <span id="xdx_90C_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20210921__20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember__srt--RangeAxis__srt--MaximumMember_zpC4SxPyvNB5">129</span>% as defined in the note agreement. After this initial 180-day period, the Company does not have a right to prepay such notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--DebtInstrumentDescription_c20210921__20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember__srt--RangeAxis__srt--MinimumMember_zHVNcBc1Vpjd">The conversion price for the above Geneva Roth notes shall be equal to a <span id="xdx_902_ecustom--DebtInstrumentDebtDefaultInterestRate_pid_dp_uPure_c20210921__20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyOneGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zGq3BXUa7Op5">35</span>% discount of the market price based on the average of the lowest three trading prices of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion. Notwithstanding the foregoing, Geneva Roth shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Geneva Roth and its affiliates, exceeds <span id="xdx_90E_ecustom--PercentageOfOutstandingSharesOfCommonStock_pid_dp_uPure_c20210921__20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember__srt--RangeAxis__srt--MinimumMember_z6UGpQRbDf83">9.99</span>% of the outstanding shares of the Company’s common stock. These notes are treated as stock settled debt under ASC 480 and accordingly the Company recorded a total of $<span id="xdx_903_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zVrRP5zlDEsi">161,269</span> put premium for the four notes.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The above Geneva Roth notes contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, interest on the outstanding principal shall accrue at a default interest rate of <span id="xdx_902_ecustom--DebtDefaultAmountPercentage_pid_dp_uPure_c20210921__20210922__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zD9LZXItdfcf" title="Debt default amount percentage">22</span>% per annum, or if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amounts outstanding under the above Geneva Roth financing agreements were $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zm5UdQ7KYNqf">132,000</span> and accrued interest of $<span id="xdx_90A_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zUsRMblbf2pk">3,477</span> as of June 30, 2021 following conversion of $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember_zGVdkKYxeGze">78,000</span> of the principal balance and $<span id="xdx_904_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember_zJqYyidmnTwf">3,120</span> accrued interest during the year ended June 30, 2021. Accordingly, $<span id="xdx_904_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210630__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_z0OghltJXj4f">42,000</span> of the put premium was released in respect of the Geneva Roth financing agreements during the year ended June 30, 2021 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The total principal amounts outstanding under the above Geneva Roth financing agreements were $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zSRXj1MFofhf">167,500</span> and accrued interest of $<span id="xdx_903_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zxEer3i3Ai4b">1,081</span> as of September 30, 2021 following conversion of $<span id="xdx_90C_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember_zfR47ZiJD2Vd">132,000</span> of the principal balance and $<span id="xdx_909_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember_zfxIAHXyadMa">5,280</span> accrued interest during the three months ended September 30, 2021. Accordingly, $<span id="xdx_902_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--GenevaRothFinancingAgreementAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeptemberTwentyTwoTwoThousandTwentyGenevaRothMember__dei--LegalEntityAxis__custom--GenevaRothRemarkHoldingsIncMember_zryCIL9sv5Y7">71,077</span> of the put premium was released in respect of the Geneva Roth financing agreements during the three months ended September 30, 2021 following conversion of the principal balance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Amortization of debt discounts</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company recorded $<span id="xdx_905_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zDotonWxHIEg">7,500</span> and $<span id="xdx_903_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20200701__20200930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zRErArH07Ngi">0</span> of debt discounts (including warrants, derivatives, debt issue costs and original issue discounts) related to the above note issuances during the three months ended September 30, 2021 and 2020, respectively. The Company recorded $<span id="xdx_907_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zoQmvISoyihb">90,192</span> and $<span id="xdx_909_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_pp0p0_c20200930__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zqYEyVk0Karh">0</span> of put premiums related to the above note issuances during the three months ended September 30, 2021 and 2020, respectively. The debt discounts are being amortized over the term of the debt and the put premiums are expensed on issuance of the debt with the liability released to additional paid in capital on conversion of the principal.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Amortization of all debt discounts for the three months ended September 30, 2021 and 2020 was $<span id="xdx_900_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20210701__20210930_z2nbP4cmctd4" title="Amortization of debt discount">6,074</span> and $<span id="xdx_906_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20200701__20200930_zBvW04AaEQS9" title="Amortization of debt discount">121,281</span>, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company reclassified $<span id="xdx_909_ecustom--ReclassifiedPremiumAmountForAdditionalPaidInCapital_pp0p0_c20210701__20210930_zoB4cvf8iVJa">109,643</span> and $<span id="xdx_905_ecustom--ReclassifiedPremiumAmountForAdditionalPaidInCapital_pp0p0_c20200701__20200930_zikr5Gq9GEja">204,919</span> in put premiums to additional paid in capital following conversions during the three months ended September 30, 2021 and 2020, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_897_eus-gaap--ConvertibleDebtTableTextBlock_zjBtvrzAXz4j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company’s convertible notes outstanding at September 30, 2021 and June 30, 2021 were as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B0_zcA9zJu0m1X9" style="display: none">SCHEDULE OF CONVERTIBLE NOTES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_491_20210930_zAp0KEWZ480k" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" id="xdx_497_20210630_zyLLJTngGXul" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Unaudited)</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--DebtInstrumentCarryingAmount_iI_pp0p0_maLTDzcuB_zeR5AoxnitQ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Convertible notes and debenture</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 17%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">377,780</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 15%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">400,128</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40E_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pp0p0_di_msLTDzcuB_z1VTqFyrK7xb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Unamortized discounts</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(7,565</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">(6,139</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_40C_eus-gaap--DepositLiabilitiesAccruedInterest_iI_pp0p0_maLTDzcuB_zzTn53DC3CG" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accrued interest</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">37,348</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">34,098</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentUnamortizedPremium_iI_pp0p0_maLTDzcuB_ztrTE0IiZtYh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Premium, net</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">177,045</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif">196,496</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_eus-gaap--LongTermDebt_iTI_pp0p0_mtLTDzcuB_zuIe10MIoIM4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Convertible notes, net</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">584,608</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif">624,583</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 377780 400128 7565 6139 37348 34098 177045 196496 584608 624583 310000 0.10 750 0.65 10 2019-08-10 155000 155000 0.18 578212 140000 10764 161000 19418 9000 500 5248 8500 22168 100000 56762 8500 23262 25000 43238 80000 3738 20000 80000 7381 550000 550000 5000 40000 505000 2020-08-30 0.10 366667 0.24 1.25 0.24 0.60 0.0499 450 2250 300 3330 225 4500 0.0499 375905 358965 486 191035 43176 127356 32848 0 326117 39536 217411 0 0 32848 716 21899 108000 3000 5000 100000 2019-10-03 0.10 1.10 1.50 The conversion price for the October 3, 2019 Crown Bridge Note shall be equal to a 40% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, Crown Bridge shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Crown Bridge and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock which may be increased up to 9.99% upon 60 days prior written notice by the Crown Bridge to the Company. The note is treated as stock settled debt under ASC 480 and accordingly the Company recorded a $72,000 put premium. 0.0499 0.0999 72000 0.15 65280 7232 42720 28480 15000 9600 6400 16000 65280 16138 65280 18606 131000 6000 125000 2021-12-10 0.08 0.24 1.10 1.50 The conversion price for the above GW Holdings notes shall be equal to a 40% discount of the lowest closing bid price (“Lowest Trading Price”) of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion, including the day upon which a Notice of Conversion is received. Notwithstanding the foregoing, GW Holdings shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by GW Holdings and its affiliates, exceeds 4.99% of the outstanding shares of the Company’s common stock which may be increased up to 9.99% upon 60 days prior written notice by the GW Holdings to the Company. 0.0499 87333 90000 4636 41000 1084 27333 65000 4174 25000 2091 16667 68500 3500 0.08 63500 3500 0.08 103750 3750 0.08 63750 3750 0.08 1.10 1.29 The conversion price for the above Geneva Roth notes shall be equal to a 35% discount of the market price based on the average of the lowest three trading prices of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion. Notwithstanding the foregoing, Geneva Roth shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Geneva Roth and its affiliates, exceeds 9.99% of the outstanding shares of the Company’s common stock. These notes are treated as stock settled debt under ASC 480 and accordingly the Company recorded a total of $161,269 put premium for the four notes. 0.35 0.0999 161269 0.22 132000 3477 78000 3120 42000 167500 1081 132000 5280 71077 7500 0 90192 0 6074 121281 109643 204919 <p id="xdx_808_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zMw0pxdAWVcd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 7 – <span id="xdx_822_zMisaHkqg0Q7">STOCKHOLDERS’ DEFICIT</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Increase in Authorized Shares of Common Stock and Reverse Stock Split</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On February 4, 2020 the Directors resolved to increase the Common Stock of the Company from <span id="xdx_902_eus-gaap--CommonStockSharesAuthorized_iI_c20210203_zxqwmpDvq0x9">100,000,000</span> authorized shares to <span id="xdx_904_eus-gaap--CommonStockSharesAuthorized_iI_c20210204_zMJXuOt1cQw6" title="Common stock, shares authorized">1,000,000,000</span> authorized shares and believes that such number of authorized shares of Common Stock will be in the best interests of the Corporation and its stockholders because the Board believes that the availability of more shares of Common Stock for issuance will allow the Corporation greater flexibility in pursuing financing from investors, meeting business needs as they arise, taking advantage of favorable opportunities and responding to a changing corporate environment. The Company filed the necessary documents with the U.S. Securities and Exchange Commission on February 6, 2020 and with the amendment to the authorized shares being approved by the State of Delaware on March 13, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On November 17, 2020, the Company effected a <span id="xdx_903_eus-gaap--StockholdersEquityReverseStockSplit_c20201116__20201117_zCNLsgn52Ge3">one-for-one thousand (1:1,000)</span> reverse stock split of the Company’s issued and outstanding shares of common stock (the “Reverse Stock Split”). Proportional adjustments for the Reverse Stock Split were made to the Company’s outstanding stock options, warrants and equity incentive plans. All share and per-share data and amounts have been retroactively adjusted as of the earliest period presented in the consolidated financial statements to reflect the Reverse Stock Split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b><span style="text-decoration: underline">Preferred Stock</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The total number of shares of preferred stock that the Company is authorized to issue is <span id="xdx_901_eus-gaap--PreferredStockSharesAuthorized_iI_c20210930_zGadqf3imdS2" title="Preferred stock, shares authorized">1,500,005</span>, $<span id="xdx_905_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20210930_zgJ28qgsfvDd" title="Preferred stock, par value">0.01</span> par value per share. These preferred shares have no rights to dividends, profit sharing or liquidation preferences.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Of the total preferred shares authorized, <span id="xdx_90E_eus-gaap--PreferredStockSharesAuthorized_iI_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zklHtXwcLMRc">500,000</span> have been designated as Series A Preferred Stock (“Series A Preferred Stock”), pursuant to the Certificate of Designation filed with the Secretary of State of the State of Delaware on December 9, 2014. James Nathanielsz, the Company’s Chief Executive Officer and Chief Financial Officer, beneficially owns all of the outstanding shares of Series A Preferred Stock via North Horizon Pty Ltd., which entitles him, as a holder of Series A Preferred Stock, to vote on all matters submitted or required to be submitted to a vote of the Company’s stockholders, except election and removal of directors, and each share of Series A Preferred Stock entitles him to two votes per share of Series A Preferred Stock. North Horizon Pty Ltd. is a Nathanielsz Family Trust. Mr. James Nathanielsz, the Chief Executive Officer, Chief Financial Officer and a director of our Company, has voting and investment power over these shares. <span id="xdx_908_eus-gaap--PreferredStockSharesIssued_iI_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zShGRKaqRxR" title="Preferred stock, shares issued"><span id="xdx_903_eus-gaap--PreferredStockSharesOutstanding_iI_c20210930__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zWZ0zR9fbVW6" title="Preferred stock, shares outstanding"><span id="xdx_90C_eus-gaap--PreferredStockSharesIssued_iI_c20200930__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zhHjKwqXWcAj" title="Preferred stock, shares issued"><span id="xdx_90E_eus-gaap--PreferredStockSharesOutstanding_iI_c20200930__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zbNaziOiHu27" title="Preferred stock, shares outstanding">500,000</span></span></span></span> shares of Series A Preferred Stock are issued and outstanding as of September 30, 2021 and June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Of the total preferred shares authorized, pursuant to the Certificate of Designation filed with the Secretary of State of the State of Delaware on June 16, 2015, up to five shares have been designated as Series B Preferred Stock (“Series B Preferred Stock”). Each holder of outstanding shares of Series B Preferred Stock is entitled to voting power equivalent to the number of votes equal to the total number of shares of common stock outstanding as of the record date for the determination of stockholders entitled to vote at each meeting of stockholders of the Company and entitled to vote on all matters submitted or required to be submitted to a vote of the stockholders of the Company. One share of Series B Preferred Stock is issued and outstanding as of September 30, 2021 and June 30, 2021. Mr. Nathanielsz directly beneficially owns such one share of Series B Preferred Stock.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span>No additional shares of Series A Preferred Stock or Series B Preferred Stock were issued during the three months ended September 30, 2021 and fiscal year 2021.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>Common Stock:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Shares issued for conversion of convertible debt</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">From July 1, 2021 through September 30, 2021, the Company issued an aggregate of <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zrhB06ppwRTb">9,445,009 </span>shares of its common stock at an average contractual conversion price of $<span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_z6oZRlUY1LB6">0.02</span>, ranging from $<span id="xdx_905_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__srt--RangeAxis__srt--MinimumMember_zt5sDHz4Y7v1">0.02</span> to $<span id="xdx_901_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zeBaRl8wQ5v8">0.04</span>, as a result of the conversion of principal of $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zmQLQnUkGiG6">189,849</span>, interest of $<span id="xdx_909_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pp0p0_c20210930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zkVdbheKEiv1">8,087</span> and conversion fees $<span id="xdx_90C_ecustom--ConversionFees_pp0p0_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zsqU4nSbdwIa">2,250</span> underlying certain outstanding convertible notes converted during such period. The total recorded to equity was $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfCommonStock_pp0p0_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--SecurityPurchaseAgreementMember_zDJDkDnM7clg">200,186</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company reclassified $<span id="xdx_900_ecustom--PremiumsToAdditionalPaidInCapital_pp0p0_c20210701__20210930__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zjihC2NutZa6" title="Premiums to additional paid in capital">109,643</span>, net of reversal of put premium upon cancellation of conversion notices by two lenders discussed above, to additional paid in capital following conversions during the three months ended September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company has <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--UnderlyingFinancingAgreementsMember_zIDWkVvVbsJ6">197,308,116</span> shares of its common stock reserved for future issuances based on lender reserve requirements pursuant to underlying financing agreements at September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Shares issued for services and accrued expenses</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On August 12, 2021, the Board approved the issuance of <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210811__20210812__us-gaap--StatementEquityComponentsAxis__custom--CommonStockOneMember_zDsldrVmkCif" title="Stock issued during the period for services, shares">2,800,000</span> shares of the Company’s common stock for bonus payable of $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueEmployeeBenefitPlan_c20210811__20210812__us-gaap--StatementEquityComponentsAxis__custom--CommonStockOneMember_z84Nc7pi4Tmi">84,000</span> as of June 30, 2021 to an employee who is the wife of the CEO of the Company. The <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210811__20210812__us-gaap--StatementEquityComponentsAxis__custom--CommonStockOneMember_zJOm4XVVj7g3" title="Issuance of common stock for cash, shares">2,800,000</span> shares of common stock were valued at approximately $<span id="xdx_90C_eus-gaap--SharesIssuedPricePerShare_iI_c20210812__us-gaap--StatementEquityComponentsAxis__custom--CommonStockOneMember_z0mAIG1nJMJ1" title="Shares issued, price per share">0.03</span> per share or $<span id="xdx_909_eus-gaap--CommonStockValue_iI_c20210812__us-gaap--StatementEquityComponentsAxis__custom--CommonStockOneMember_zs8vYyqJDiAf" title="Common stock value issued">87,920</span>, being the closing price of the stock on the date of grant. The shares were issued on August 17, 2021. The Company recorded stock-based compensation of $<span id="xdx_90E_eus-gaap--ShareBasedCompensation_c20210701__20210930__us-gaap--StatementEquityComponentsAxis__custom--CommonStockOneMember_ziSzV3C89AQf" title="Share based compensation">3,920</span> during the three months ended September 30, 2021 and reclassified bonus payable of $<span id="xdx_909_eus-gaap--AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts_c20210701__20210930__us-gaap--StatementEquityComponentsAxis__custom--CommonStockOneMember_zf7xE4mgffE8" title="Additional paid in capital upon issuance">84,000</span> to additional paid in capital upon issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On August 12, 2021, the Board approved the issuance of <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210811__20210812__srt--ProductOrServiceAxis__custom--LegalServicesMember_zdeAM8QJb4sl">166,667 </span></span><span style="font: 10pt Times New Roman, Times, Serif">shares of the Company’s common stock for legal services rendered for the month of August 2021. The 166,667 shares of common stock were valued at approximately $<span id="xdx_90E_eus-gaap--SharesIssuedPricePerShare_iI_c20210812__srt--ProductOrServiceAxis__custom--LegalServicesMember_zn477kdik1p7">0.05 </span></span><span style="font: 10pt Times New Roman, Times, Serif">per share or $<span id="xdx_90D_eus-gaap--CommonStockValue_iI_c20210812__srt--ProductOrServiceAxis__custom--LegalServicesMember_zOAYOsBZBqTk">7,883</span></span><span style="font: 10pt Times New Roman, Times, Serif">, being the closing price of the stock on August 31, 2021, the date of grant. The shares were issued on September 3, 2021. The Company recorded stock-based compensation of $<span id="xdx_90F_eus-gaap--ShareBasedCompensation_c20210701__20210930__srt--ProductOrServiceAxis__custom--LegalServicesMember_zxGb2eDOwmbj">7,883 </span></span><span style="font: 10pt Times New Roman, Times, Serif">during the three months ended September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In September 2021, the Company issued <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210929__20210930__srt--ProductOrServiceAxis__custom--ConsultantServicesMember_zpmqfbe1GZn4">2,819,712</span> shares of the Company’s common stock to a consultant for services rendered from July 2021 to September 2021. The Company issued 2,819,712 shares of the Company’s common stock valued at approximately $<span id="xdx_90F_eus-gaap--SharesIssuedPricePerShare_iI_c20210812__srt--ProductOrServiceAxis__custom--ConsultantServicesMember_z2GIUXg2Km1h">0.04</span> per share or $<span id="xdx_906_eus-gaap--CommonStockValue_iI_c20210812__srt--ProductOrServiceAxis__custom--ConsultantServicesMember_zQBbdMNwTnsj" title="Common stock value issued">104,611</span>, being the closing price of the stock on the date of grant to such consultant. The Company recorded stock-based compensation of $<span id="xdx_904_eus-gaap--ShareBasedCompensation_c20210701__20210930__srt--ProductOrServiceAxis__custom--ConsultantServicesMember_zThXkNGKffs1">104,611</span> during the three months ended September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Nathanielsz Cancellation Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.2pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On August 12, 2021, the Company entered into a Cancellation Agreement with James Nathanielsz (“Nathanielsz”), Chief Executive Officer and Director of the Company, whereby Nathanielsz agreed to cancel his cash compensation bonus award for fiscal year 2021, ended June 30, 2021, in exchange for common stock of the Company. The Company and Nathanielsz entered into an Amended and Restated Employment Agreement dated May 14, 2019 (the “Agreement”). Pursuant to the terms of the Agreement, Nathanielsz was eligible to earn an annual fiscal year cash performance bonus for each fiscal year of his employment period with the Company with a target performance bonus of <span id="xdx_901_ecustom--PercentageOfBonusOfAnnualBaseSalary_dp_uPure_c20210811__20210812__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zCLC1GCuYMa7" title="Percentage of bonus of annual base salary">200</span>% of his average annualized base salary during the fiscal year for which the performance bonus is earned. On July 20, 2021, Nathanielsz was awarded a “target” bonus of <span id="xdx_908_ecustom--PercentageOfBonusOfAnnualBaseSalary_pip0_dp_uPure_c20210719__20210720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zKevKhYlIuFh" title="Percentage of bonus of annual base salary">78</span>%, or $<span id="xdx_905_eus-gaap--OfficersCompensation_pp0p0_c20210719__20210720__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zKq0ik4XgMC9" title="Officer compensation">177,840</span> USD (the “Debt”) for the fiscal year ended June 30, 2021, by the Company’s Board of Directors (the “Board”). Pursuant to the Cancellation Agreement, Nathanielsz agreed to cancel this Debt in exchange for <span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pp0p0_c20210816__20210817__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zpPnofWvhYb6">5,928,000</span> shares of the common stock of the Company (the “Shares”), valued at approximately $<span id="xdx_905_eus-gaap--SharePrice_iI_pip0_c20210817__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zUmi0N2se0X9">0.03</span> per share or $<span id="xdx_908_eus-gaap--CommonStockValue_iI_pip0_c20210817__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--NathanielszCancellationAgreementMember_zbVq3HjJ3BKl" title="Common stock value issued">186,139</span>, being the closing price of the stock on the date of grant. The shares were issued on August 17, 2021. The Company recorded stock-based compensation of $<span id="xdx_906_eus-gaap--ShareBasedCompensation_c20210811__20210812__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_z2hsC7wZ1qEc">8,299</span> during the three months ended September 30, 2021 and reclassified bonus payable of $<span id="xdx_90E_eus-gaap--AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts_c20210811__20210812__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zZbHY9PisvJa">177,840</span> to additional paid in capital upon issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.2pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Kenyon Cancellation Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.2pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On August 12, 2021, the Company entered into a Cancellation Agreement with Dr. Julian Kenyon (“Kenyon”), Chief Scientific Officer and Director of the Company, whereby Kenyon agreed to cancel of $<span id="xdx_90F_eus-gaap--AccruedSalariesCurrent_iI_c20210812__us-gaap--DeferredCompensationArrangementWithIndividualExcludingShareBasedPaymentsAndPostretirementBenefitsByTypeOfDeferredCompensationAxis__custom--DeferredSalaryMember__us-gaap--TypeOfArrangementAxis__custom--CancellationAgreementMember_z2xZEAt3OBL9" title="Acccrued salary cancellation">102,600</span> USD of accrued salary due him as of June 30, 2021, pursuant to that certain Amended and Restated Services Agreement by and between Kenyon and the Company, dated May 14, 2019, in exchange for <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesEmployeeBenefitPlan_c20210811__20210812__srt--TitleOfIndividualAxis__custom--ChiefScientificOfficerandDirectorMember_zLyw61W3dj94">3,420,000</span> shares of common stock of the Company (the “Shares”), valued at approximately $<span id="xdx_90F_eus-gaap--SharesIssuedPricePerShare_iI_c20210812__srt--TitleOfIndividualAxis__custom--ChiefScientificOfficerandDirectorMember_zusxu36XXajd">0.03</span> per share or $<span id="xdx_901_eus-gaap--CommonStockValue_iI_c20210812__srt--TitleOfIndividualAxis__custom--ChiefScientificOfficerandDirectorMember_zliyf6nhtHR6">107,388</span>, being the closing price of the stock on the date of grant. The shares were issued on August 17, 2021. The Company recorded stock-based compensation of $<span id="xdx_906_eus-gaap--ShareBasedCompensation_c20210811__20210812__srt--TitleOfIndividualAxis__custom--ChiefScientificOfficerandDirectorMember_zGsvqby85h3c">4,788</span> during the three months ended September 30, 2021 and reclassified accrued expenses of $<span id="xdx_909_eus-gaap--AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts_c20210701__20210930__srt--TitleOfIndividualAxis__custom--ChiefScientificOfficerandDirectorMember_z7o5PXxcehH6">102,600</span> to additional paid in capital upon issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.2pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Zelinger Amended and Restated Director Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 16.2pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On August 12, 2021, the Company entered into an Amended and Restated Director Agreement (the “Director Agreement”) with Josef Zelinger (“Zelinger”). <span id="xdx_908_ecustom--DescriptionOfEmploymentBenefits_c20210811__20210812__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zIafOWlVGFbj">Pursuant to the terms of the Director Agreement, the Company shall pay Zelinger a base salary of $250.00 AUD ($184 USD) per month, payable on the first day of each month. In addition, the Company may compensate Zelinger additional consideration for advisory services performed by the Director, either in the form of cash or common stock, at the discretion of the Board. The Company issued <span id="xdx_906_ecustom--CommonStockIssuableShares_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_z131fYPKaMck">2,800,000</span> shares of common stock of the Company for accrued director services of $<span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zIbg2u8ptUkg">84,000</span> as of June 30, 2021. </span></span><span style="font: 10pt Times New Roman, Times, Serif">The <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zSaHuhy3dBU3">2,800,000</span> shares of common stock were valued at approximately $<span id="xdx_90E_eus-gaap--SharePrice_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zz6ANSdBV52g">0.03</span> per share $<span id="xdx_900_eus-gaap--CommonStockValue_iI_c20210630__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zYgCEmlb6eEk" title="Common stock value issued">87,920</span>, being the closing price of the stock on the date of grant. The shares were issued on August 17, 2021. The shares were issued on August 17, 2021. The Company recorded stock-based compensation of $<span id="xdx_909_eus-gaap--ShareBasedCompensation_c20210811__20210812__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_z1xSDZC815Fc">3,920</span> during the three months ended September 30, 2021 and reclassified accrued expenses of $<span id="xdx_908_eus-gaap--AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--ZelingerAmendedAndRestatedDirectorAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JosefZelingerMember_zORHCYFlOc3e">84,000</span> to additional paid in capital upon issuance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Shares issued for exercise of warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">From July 9, 2021 through September 27, 2021, the Company received aggregate gross proceeds of $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceOfWarrants_c20210706__20210927_z5sFNnoMpkTi" title="Proceed from issuance of excercise of warrants">275,000</span> and subscription receivable of $<span id="xdx_90D_eus-gaap--StockholdersEquityNoteSubscriptionsReceivable_iI_c20210927_zo8TfwJL1jL1">100,000</span> from the exercise of <span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfWarrants_c20210706__20210927__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantMember_zwQsIV6YL6Cc">9,375</span> Series B Warrants and issued <span id="xdx_905_eus-gaap--CommonStockSharesIssued_iI_c20210927__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantMember_zszZpjZ3dgD8" title="Common stock shares issued">6,875</span> shares of common stock and <span id="xdx_907_eus-gaap--CommonStockSharesAuthorized_iI_c20210930__us-gaap--StatementClassOfStockAxis__custom--SeriesBWarrantMember_zLPnNDXAyZG7" title="Common stock, shares authorized">2,500 </span>shares of common stock issuable as of September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">During the three months ended September 30, 2021, additionally, the Company issued <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210701__20210930_zsi5duzQcmTj">2,399,988</span> shares of common stock and <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesOther_c20210701__20210930_zimIlaUtcoaf">1,999,990</span> shares of common stock issuable from the alternate cashless exercise of 22 Series A warrants. The Company recognized the value of the effect of a down round feature in such warrants when triggered. Upon the occurrence of the triggering event that resulted in a reduction of the strike price, the Company measured the value of the effect of the feature as the difference between the fair value of the warrants without the down round feature or before the strike price reduction and the fair value of the warrants with a strike price corresponding to the reduced strike price upon the down round feature being triggered. Accordingly, the Company recognized deemed dividend of $<span id="xdx_903_ecustom--DeemedDividend_iN_di_c20210701__20210930_zdxR4qPLScJj" title="Deemed dividend">114,844</span> and a corresponding reduction of income available to common stockholders upon the alternate cashless exercise of these warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">A total of <span id="xdx_903_eus-gaap--CommonStockSharesAuthorized_iI_c20211031_zquk7yMxY55l">2,002,490</span> common stock issuable were issued in October 2021. The Company collected the $<span id="xdx_903_eus-gaap--StockholdersEquityNoteSubscriptionsReceivable_iI_c20211031_zQiFphOIPdbf">100,000</span> subscription receivable in October 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY<br/> NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS<br/> SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Warrants:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zHpSNYZ0bJ83" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The following table summarizes warrant activity for the three months ended September 30, 2021:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BD_zTCyL2jDJay7" style="display: none">SCHEDULE OF WARRANT ACTIVITY</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Weighted</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Number of</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Average</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Shares</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Price Per Share</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%"><span style="font-family: Times New Roman, Times, Serif">Outstanding at June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20210701__20210930_zbSgfIZiHED6" style="width: 14%; text-align: right" title="Number of Shares, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">121,329</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iS_c20210701__20210930_zoMmctVkyGj8" style="width: 14%; text-align: right" title="Weighted Average Price Per Share, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">179.63</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Issued</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssued_c20210701__20210930_ztsKXhp7ND3b" style="text-align: right" title="Number of Shares, Issued"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3731">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceIssued_c20210701__20210930_zxIyHmTNnHjk" style="text-align: right" title="Weighted Average Price Per Share, Issued"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3733">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercised</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20210701__20210930_z2qjat9AzCb5" style="text-align: right" title="Number of Shares, Exercised"><span style="font-family: Times New Roman, Times, Serif">(9,397</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExercised_c20210701__20210930_z5aPDFIJ5t9a" style="text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="font-family: Times New Roman, Times, Serif">40.37</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Forfeited</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20210701__20210930_zUF4dPx3cbCj" style="text-align: right" title="Number of Shares, Forfeited"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3739">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExpired_c20210701__20210930_zUExwkkX8E9c" style="text-align: right" title="Weighted Average Price Per Share, Forfeited"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3741">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Expired</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_c20210701__20210930_zRsiiaMbQBUe" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Expired"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3743">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceForfeited_c20210701__20210930_zcVGq2jY8Xsl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3745">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20210701__20210930_zEeLCD9yTkk1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif">111,932</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iE_c20210701__20210930_zwi2Nr1IeWxh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif">191.32</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Exercisable at September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iE_c20210701__20210930_zrodIa8LyCSj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif">76,933</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisable_iE_c20210701__20210930_zdX6Ygyia1Ri" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif">278.36</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Outstanding and Exercisable:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average remaining contractual term</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20210701__20210930_zfPJb5ld6tyk" title="Weighted average remaining contractual term">1.52</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Aggregate intrinsic value <br/></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsEquityInstrumentsAggregateIntrinsicValueOutstanding_iE_pp0p0_c20210701__20210930_z7SavXjqef7j" style="border-bottom: Black 1.5pt solid; text-align: right" title="Aggregate intrinsic value"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3757">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A6_zjhyyGBCVHqg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">No stock warrants were granted during the three months ended September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Options:</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zoqy7CeBTuXf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">A summary of the Company’s option activity during the three months ended September 30, 2021 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zmh1iYU4qpng" style="display: none">SCHEDULE OF STOCK OPTION ACTIVITY</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Weighted</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Number of</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Average Exercise</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Shares</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Price Per Share</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%"><span style="font-family: Times New Roman, Times, Serif">Outstanding at June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20210701__20210930_z51ifCEyQQS9" style="width: 14%; text-align: right" title="Number of Shares, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20210701__20210930_z0rx5Kwkyr14" style="width: 14%; text-align: right" title="Weighted Average Price Per Share, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">13,730</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Issued</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20210701__20210930_zOKcK7k2XQW1" style="text-align: right" title="Number of Shares, Issued"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3765">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20210701__20210930_zHBULMkZ5u8" style="text-align: right" title="Weighted Average Price Per Share, Issued"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3767">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercised</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20210701__20210930_zTZzX1tDCJqa" style="text-align: right" title="Number of Shares, Exercised"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3769">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20210701__20210930_z5HJiarD8QA7" style="text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3771">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Forfeited</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20210701__20210930_zqSUqZrPkma7" style="text-align: right" title="Number of Shares, Forfeited"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3773">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20210701__20210930_zzLJvnToAvj9" style="text-align: right" title="Weighted Average Price Per Share, Forfeited"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3775">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Expired</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_c20210701__20210930_zAfG2knRVrw1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Expired"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3777">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20210701__20210930_zKPa4oYA71S5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3779">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20210701__20210930_z8Qqg1bHEKp2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20210701__20210930_ztHIftIDn6gg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif">4,533.33</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Exercisable at September 30, 2021</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20210701__20210930_z9SXbOqrLe0h" style="text-align: right" title="Number of Shares, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif">39</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20210701__20210930_zACMHgTi7J44" style="text-align: right" title="Weighted Average Price Per Share, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif">4,530.93</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Outstanding and Exercisable:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average remaining contractual term</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20210701__20210930_zcgS12ZloSe5" title="Weighted average remaining contractual term">7.62</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average fair value of options granted during the period</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_ecustom--WeightedAverageFairValueOfOptionsGrantedDuringPeriod_c20210701__20210930_zK8ntmlEsHa3" title="Weighted average fair value of options granted during the period"><span style="-sec-ix-hidden: xdx2ixbrl3791">-</span></span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Aggregate intrinsic value</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20210701__20210930_zKVspuFDvKc6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Aggregate intrinsic value"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3793">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A1_zOOS3tjEAv44" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During the three months ended September 30, 2021 and 2020, the Company recognized stock-based compensation of $<span id="xdx_908_eus-gaap--ShareBasedCompensation_pp0p0_c20210701__20210930_zn2UUDzW4jE1" title="Share based compensation">20,718</span> and $<span id="xdx_907_eus-gaap--ShareBasedCompensation_pp0p0_c20200701__20200930_zT8ZskpYfuei" title="Share based compensation">20,718</span>, respectively related to vested stock options. There was $<span id="xdx_902_eus-gaap--StockOptionPlanExpense_pp0p0_c20210701__20210930_z8rKDxyiF0Bg" title="Stock option expense">51,796</span> of unvested stock options expense as of September 30, 2021 that will be recognized through May 2022 or <span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20210331_zm4C5sNPiXLf" title="Term of warrant">0.62</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">No stock options were granted during the three months ended September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 100000000 1000000000 one-for-one thousand (1:1,000) 1500005 0.01 500000 500000 500000 500000 500000 9445009 0.02 0.02 0.04 189849 8087 2250 200186 109643 197308116 2800000 84000 2800000 0.03 87920 3920 84000 166667 0.05 7883 7883 2819712 0.04 104611 104611 2 0.78 177840 5928000 0.03 186139 8299 177840 102600 3420000 0.03 107388 4788 102600 Pursuant to the terms of the Director Agreement, the Company shall pay Zelinger a base salary of $250.00 AUD ($184 USD) per month, payable on the first day of each month. In addition, the Company may compensate Zelinger additional consideration for advisory services performed by the Director, either in the form of cash or common stock, at the discretion of the Board. The Company issued 2,800,000 shares of common stock of the Company for accrued director services of $84,000 as of June 30, 2021. 2800000 84000 2800000 0.03 87920 3920 84000 275000 100000 9375 6875 2500 2399988 1999990 -114844 2002490 100000 <p id="xdx_896_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zHpSNYZ0bJ83" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The following table summarizes warrant activity for the three months ended September 30, 2021:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BD_zTCyL2jDJay7" style="display: none">SCHEDULE OF WARRANT ACTIVITY</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Weighted</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Number of</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Average</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Shares</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Price Per Share</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%"><span style="font-family: Times New Roman, Times, Serif">Outstanding at June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20210701__20210930_zbSgfIZiHED6" style="width: 14%; text-align: right" title="Number of Shares, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">121,329</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iS_c20210701__20210930_zoMmctVkyGj8" style="width: 14%; text-align: right" title="Weighted Average Price Per Share, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">179.63</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Issued</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssued_c20210701__20210930_ztsKXhp7ND3b" style="text-align: right" title="Number of Shares, Issued"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3731">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceIssued_c20210701__20210930_zxIyHmTNnHjk" style="text-align: right" title="Weighted Average Price Per Share, Issued"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3733">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercised</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20210701__20210930_z2qjat9AzCb5" style="text-align: right" title="Number of Shares, Exercised"><span style="font-family: Times New Roman, Times, Serif">(9,397</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExercised_c20210701__20210930_z5aPDFIJ5t9a" style="text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="font-family: Times New Roman, Times, Serif">40.37</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Forfeited</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20210701__20210930_zUF4dPx3cbCj" style="text-align: right" title="Number of Shares, Forfeited"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3739">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceExpired_c20210701__20210930_zUExwkkX8E9c" style="text-align: right" title="Weighted Average Price Per Share, Forfeited"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3741">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Expired</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_c20210701__20210930_zRsiiaMbQBUe" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Expired"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3743">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAveragePriceForfeited_c20210701__20210930_zcVGq2jY8Xsl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3745">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20210701__20210930_zEeLCD9yTkk1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif">111,932</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageOutstanding_iE_c20210701__20210930_zwi2Nr1IeWxh" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif">191.32</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Exercisable at September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iE_c20210701__20210930_zrodIa8LyCSj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif">76,933</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisable_iE_c20210701__20210930_zdX6Ygyia1Ri" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif">278.36</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Outstanding and Exercisable:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average remaining contractual term</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsEquityInstrumentsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20210701__20210930_zfPJb5ld6tyk" title="Weighted average remaining contractual term">1.52</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Aggregate intrinsic value <br/></span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsEquityInstrumentsAggregateIntrinsicValueOutstanding_iE_pp0p0_c20210701__20210930_z7SavXjqef7j" style="border-bottom: Black 1.5pt solid; text-align: right" title="Aggregate intrinsic value"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3757">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 121329 179.63 9397 40.37 111932 191.32 76933 278.36 P1Y6M7D <p id="xdx_89C_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zoqy7CeBTuXf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">A summary of the Company’s option activity during the three months ended September 30, 2021 is presented below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zmh1iYU4qpng" style="display: none">SCHEDULE OF STOCK OPTION ACTIVITY</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Weighted</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Number of</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Average Exercise</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Shares</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Price Per Share</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%"><span style="font-family: Times New Roman, Times, Serif">Outstanding at June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20210701__20210930_z51ifCEyQQS9" style="width: 14%; text-align: right" title="Number of Shares, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20210701__20210930_z0rx5Kwkyr14" style="width: 14%; text-align: right" title="Weighted Average Price Per Share, Outstanding, Beginning balance"><span style="font-family: Times New Roman, Times, Serif">13,730</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Issued</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20210701__20210930_zOKcK7k2XQW1" style="text-align: right" title="Number of Shares, Issued"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3765">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20210701__20210930_zHBULMkZ5u8" style="text-align: right" title="Weighted Average Price Per Share, Issued"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3767">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif">Exercised</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20210701__20210930_zTZzX1tDCJqa" style="text-align: right" title="Number of Shares, Exercised"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3769">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20210701__20210930_z5HJiarD8QA7" style="text-align: right" title="Weighted Average Price Per Share, Exercised"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3771">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Forfeited</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20210701__20210930_zqSUqZrPkma7" style="text-align: right" title="Number of Shares, Forfeited"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3773">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_c20210701__20210930_zzLJvnToAvj9" style="text-align: right" title="Weighted Average Price Per Share, Forfeited"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3775">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Expired</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_c20210701__20210930_zAfG2knRVrw1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Expired"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3777">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_c20210701__20210930_zKPa4oYA71S5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Expired"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3779">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Outstanding at September 30, 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20210701__20210930_z8Qqg1bHEKp2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Number of Shares, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif">59</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20210701__20210930_ztHIftIDn6gg" style="border-bottom: Black 1.5pt solid; text-align: right" title="Weighted Average Price Per Share, Outstanding, Ending balance"><span style="font-family: Times New Roman, Times, Serif">4,533.33</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif">Exercisable at September 30, 2021</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_c20210701__20210930_z9SXbOqrLe0h" style="text-align: right" title="Number of Shares, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif">39</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_c20210701__20210930_zACMHgTi7J44" style="text-align: right" title="Weighted Average Price Per Share, Exercisable, Ending balance"><span style="font-family: Times New Roman, Times, Serif">4,530.93</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Outstanding and Exercisable:</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average remaining contractual term</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20210701__20210930_zcgS12ZloSe5" title="Weighted average remaining contractual term">7.62</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Weighted average fair value of options granted during the period</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_ecustom--WeightedAverageFairValueOfOptionsGrantedDuringPeriod_c20210701__20210930_zK8ntmlEsHa3" title="Weighted average fair value of options granted during the period"><span style="-sec-ix-hidden: xdx2ixbrl3791">-</span></span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Aggregate intrinsic value</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20210701__20210930_zKVspuFDvKc6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Aggregate intrinsic value"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3793">-</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 59 13730 59 4533.33 39 4530.93 P7Y7M13D 20718 20718 51796 P0Y7M13D <p id="xdx_802_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zlQYr0RERxR7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 8 – <span id="xdx_822_zCvLoL184dke">COMMITMENTS AND CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>Legal Matters </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">From time to time, the Company may be subject to litigation and claims arising in the ordinary course of business. The Company is not currently a party to any material legal proceedings and the Company is not aware of any pending or threatened legal proceeding against the Company that we believe could have a material adverse effect on our business, operating results, cash flows or financial condition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>IRS Liability</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As part of its requirement for having a foreign operating subsidiary, the Company’s parent U.S. entity is required to file an informational Form 5471 to the Internal Revenue Service (the “IRS”), which is a form that explains the nature of the relationship between the foreign subsidiary and the parent company. From 2012 through the 2014, the Company did not file this form in a timely manner. As a result of the non-timely filings, the Company incurred a penalty from the IRS in the amount of $<span id="xdx_908_ecustom--LitigationPenaltyAmount_pp0p0_c20210701__20210930__us-gaap--AwardDateAxis__custom--From2012ThroughThe2014Member_zQxZ2XzPp4id">10,000</span> per year, or $<span id="xdx_904_ecustom--LitigationPenaltyAmount_pp0p0_c20210701__20210930_zzLqRmwYUTjb">30,000</span> in total, plus accrued interest, such penalty and interest having been accrued and is included in the accrued expenses and other payable figure in the September 30, 2021 and June 30, 2021 consolidated balance sheet. The Company recorded the penalties for all three years during the year ended June 30, 2018. The Company is current on all subsequent filings. The Company’s tax advisor is awaiting a response from the IRS on this matter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Operating Agreements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In November 2009, the Company entered into a commercialization agreement with the University of Bath (UK) (the “University”) whereby the Company and the University co-owned the intellectual property relating to the Company’s pro-enzyme formulations. In June 2012, the Company and the University entered into an assignment and amendment whereby the Company assumed full ownership of the intellectual property while agreeing to pay royalties of<span id="xdx_902_ecustom--OperatingLeasesIncomeStatementRevenuePercentage_dp_uPure_c20120601__20120630__us-gaap--TypeOfArrangementAxis__us-gaap--RoyaltyAgreementTermsMember_ztyPmoOVl0m"> 2</span>% of net revenues to the University. Additionally, the Company agreed to pay <span id="xdx_90B_ecustom--OperatingLeasesIncomeStatementRevenuePercentage_dp_uPure_c20120601__20120630__us-gaap--TypeOfArrangementAxis__us-gaap--LicenseAgreementTermsMember_zjfHUvOqUBS5">5</span>% of each and every license agreement subscribed for. The contract is cancellable at any time by either party. To date, no amounts are owed under the agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>Collaboration Agreement</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On September 13, 2018, the Company entered into a two-year collaboration agreement with the University of Jaén (the “University”) to provide certain research services to the Company. In consideration of such services, the Company agreed to pay the University approximately <span id="xdx_90F_ecustom--PaymentForServices_pp0p0_uEuro_c20180910__20180913__us-gaap--TypeOfArrangementAxis__custom--OneYearCollaborationAgreementMember__us-gaap--AwardTypeAxis__custom--EurosMember_zWkpdfYYRu61">52,000</span> Euros ($<span id="xdx_900_ecustom--PaymentForServices_pp0p0_c20180910__20180913__us-gaap--TypeOfArrangementAxis__custom--OneYearCollaborationAgreementMember_zUd5vTOCzQ34">59,508</span> USD) in year one and a maximum of <span id="xdx_900_ecustom--PaymentForServices_pp0p0_uEuro_c20180910__20180913__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardTypeAxis__custom--EurosMember_zP8v6QHtLfga">40,000</span> Euros ($<span id="xdx_900_ecustom--PaymentForServices_pp0p0_c20180910__20180913__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember_zkNNmUWYmXW5">45,775</span> USD) in year two. The Company paid <span id="xdx_90E_ecustom--PaymentForServices_pp0p0_uEuro_c20180701__20190630__us-gaap--AwardTypeAxis__custom--EurosMember_zV6KLypjQpK3">31,754</span> Euros ($<span id="xdx_907_ecustom--PaymentForServices_pp0p0_c20180701__20190630_z1VrPbRQIVrf">36,117</span> USD) in 2019 and has accrued <span id="xdx_90E_ecustom--PaymentForServices_pp0p0_uEuro_c20200701__20210630__us-gaap--AwardTypeAxis__custom--EurosMember_z72xtbmgu1gc">28,493</span> Euros ($<span id="xdx_90C_ecustom--PaymentForServices_pp0p0_c20200701__20210630_zHpjlYof1Kx6">24,043</span> USD) as of June 30, 2021. Additionally, in exchange for full ownership of the intellectual property the Company agreed to pay royalties of <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20180910__20180913__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--RevenueFromRightsConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zsWXu5YUxfk8">2</span>% of net revenues to the University. On October 1, 2020, the Company entered into another two-year collaboration agreement with the University of Jaén to provide certain research services to the Company. In consideration of such services, the Company agreed to pay the University approximately <span id="xdx_90E_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardTypeAxis__custom--EurosMember_zD31kIGGvFNg">30,000</span> Euros ($<span id="xdx_90C_ecustom--PaymentForServices_pp0p0_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember_z6moICqqXWrg">35,145</span> USD) which shall be paid in four installment payment of <span id="xdx_90D_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardTypeAxis__custom--EurosMember__us-gaap--AwardDateAxis__custom--InstallmentOneMember_zasnD79JF5wh">5,000</span> Euros in November 2020, <span id="xdx_90F_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentTwoMember__us-gaap--AwardTypeAxis__custom--EurosMember_zIeQW14upxB2">5,000</span> Euros ($<span id="xdx_908_ecustom--PaymentForServices_pp0p0_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentTwoMember_zxmP75oLG7Ne">5,858</span>) in March 2021, <span id="xdx_906_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentThreeMember__us-gaap--AwardTypeAxis__custom--EurosMember_zYSrA2OWPOq7">10,000</span> Euros ($<span id="xdx_90B_ecustom--PaymentForServices_pp0p0_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentThreeMember_zQDYB0y5rfZe">11,715</span>) in December 2021 and <span id="xdx_902_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentFourMember__us-gaap--AwardTypeAxis__custom--EurosMember_zaZTGriMJiI1">10,000</span> Euros ($<span id="xdx_901_ecustom--PaymentForServices_pp0p0_c20200929__20201002__us-gaap--TypeOfArrangementAxis__custom--TwoYearCollaborationAgreementMember__us-gaap--AwardDateAxis__custom--InstallmentFourMember_zDU0Szg140si">11,715</span>) in September 2022. Additionally, the University shall hire and train a doctoral student for this project and as such the Company shall pay the University <span id="xdx_90D_ecustom--PaymentForServices_pp0p0_uEuro_c20200929__20201002__dei--LegalEntityAxis__custom--UniversityOfJaenMember__us-gaap--AwardTypeAxis__custom--EurosMember_z2miFiRl7Wj1" title="Payment for services">25,837</span> Euros ($<span id="xdx_909_ecustom--PaymentForServices_pp0p0_c20200929__20201002__dei--LegalEntityAxis__custom--UniversityOfJaenMember_z20xuqnj98dl" title="Payment for services">30,268</span> USD). In exchange for full ownership of the intellectual property the Company agreed to pay royalties of<span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20200929__20201002__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__dei--LegalEntityAxis__custom--UniversityOfJaenMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--RevenueFromRightsConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zp48BunMv2Bj" title="Royalties percentage"> 2</span>% of net revenues to the University.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 10000 30000 0.02 0.05 52000 59508 40000 45775 31754 36117 28493 24043 0.02 30000 35145 5000 5000 5858 10000 11715 10000 11715 25837 30268 0.02 <p id="xdx_807_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zKlAkoBh8Ygj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 9 – <span id="xdx_82E_zfYxozwsc66">RELATED PARTY TRANSACTIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Since its inception, the Company has conducted transactions with its directors and entities related to such directors. These transactions have included the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021 and June 30, 2021, the Company owed its former director a total of $<span id="xdx_90B_ecustom--LoansFromRelatedParty_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CurrentAndFormerDirectorMember_zu4z5AeLtI9k">53,384</span> and $<span id="xdx_902_ecustom--LoansFromRelatedParty_iI_pp0p0_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CurrentAndFormerDirectorMember_z5vSFOs05k61">55,500</span>, respectively, for money loaned to the Company throughout the years. The total loans balance owed at September 30, 2021 and June 30, 2021 is not interest bearing (See Note 5 – Loans and Notes Payable).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021 and June 30, 2021, the Company owed its former director a total of $<span id="xdx_901_eus-gaap--DueToRelatedPartiesCurrent_iI_pp0p0_c20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FormerDirectorMember_zyDfm48jFJXk">32,076 </span>and $<span id="xdx_90F_eus-gaap--DueToRelatedPartiesCurrent_iI_pp0p0_c20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FormerDirectorMember_zJRtMxjGmrnk">33,347</span>, respectively, related to expenses paid on behalf of the Company related to corporate startup costs and intellectual property (See Note 4 – Due to Former Director – Related Party).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On May 6, 2021, the Company entered into an agreement for the lease of its principal executive offices with North Horizon Pty Ltd., a related party, of which Mr. Nathanielsz, our CEO, CFO and a director, and his wife are owners and directors. The lease has a one-year term commencing May 6, 2021, and the Company is currently obligated to pay $<span id="xdx_904_ecustom--OperatingLeasesRentExpenseMinimumRentalsPayable_pp0p0_uAUD_c20210503__20210506__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_zixN4Doi7VDc">3,606</span> AUD or $<span id="xdx_90B_ecustom--OperatingLeasesRentExpenseMinimumRentalsPayable_pp0p0_c20210505__20210506__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember_z9r7nz638Nel">2,431</span> USD (depending on exchange rate), inclusive of tax, in rent per month. During the three months ended September 30, 2021 and 2020, rent expense amounted $<span id="xdx_90F_ecustom--OperatingLeasesRentExpenseMinimumRentalsPayable_pp0p0_uAUD_c20210701__20210930__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_zgF0qADjup7d">7,735</span> USD and $<span id="xdx_906_ecustom--OperatingLeasesRentExpenseMinimumRentalsPayable_pp0p0_uAUD_c20200701__20210930__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_zsHWq5i1kMUg">9,204</span> USD. As of September 30, 2021, total rent payable of $<span id="xdx_90A_eus-gaap--PaymentsForRent_pp0p0_uAUD_c20210701__20210930__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zuGpOsanB7bl">84,000</span>AUD ($<span id="xdx_908_eus-gaap--PaymentsForRent_pp0p0_c20210701__20210930__dei--LegalEntityAxis__custom--NorthHorizonPtyLtdMember_zN2LIz6ibnt3">60,598</span> USD) is included in accrued expenses in the accompanying condensed consolidated balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Employment and Services Agreements with Management</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The Company and Mr. Nathanielsz entered into an employment agreement as of February 25, 2015 (the “Nathanielsz Employment Agreement”) setting forth the terms and conditions of Mr. Nathanielsz employment as the Company’s President and Chief Executive Officer. The Nathanielsz Employment Agreement was scheduled to expire on <span id="xdx_90A_eus-gaap--RelatedPartyTransactionDate_dd_c20150224__20150225__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember_zI4E8tN5aqd3">February 25, 2019</span>; however, the term of the Nathanielsz Employment Agreement automatically renews for successive one-year periods unless either party provides 30 days’ prior written notice of its intent not to renew. The Nathanielsz Employment Agreement continues in effect as of September 30, 2021 as amended May 14, 2019 (see below). The Nathanielsz Employment Agreement provides Mr. Nathanielsz with a base salary of $<span id="xdx_909_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20150224__20150225__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zJDZdvgnTkLj">25,000</span> AUD per month ($<span id="xdx_901_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zXJRrgHAZ558">300,000</span> AUD annually or $<span id="xdx_907_eus-gaap--SalariesAndWages_pp0p0_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember_zstiGJmSWXna">205,680</span> USD) and a monthly contribution to Mr. Nathanielsz’s pension equal to <span id="xdx_90E_ecustom--PercentageOfPensionOfMonthlySalary_dp_uPure_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember_zrBF7nyxe6Vk">9.5</span>% of his monthly salary. Mr. Nathanielsz has the ability to convert any accrued but unpaid salary into common stock at the end of each fiscal year at a conversion price to be determined by Mr. Nathanielsz and the Company, which will in no event be lower than par value or higher than the closing bid price on the date of conversion. Pursuant to the Nathanielsz Employment Agreement, Mr. Nathanielsz is entitled to an annual discretionary bonus in an amount up to <span id="xdx_908_ecustom--PercentageOfBonusOfAnnualBaseSalary_dp_uPure_c20200701__20210630__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember_zEa6kqt2K3ah">200</span>% of his annual base salary, which bonus shall be determined by the Company’s board of directors based upon the performance of the Company. On March 16, 2018, the Company’s board of directors approved an increase of Mr. Nathanielsz’s annual base salary from $<span id="xdx_90F_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20180315__20180316__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember__srt--RangeAxis__srt--MinimumMember_zpO1KbgMpXXg">300,000</span> AUD ($<span id="xdx_903_eus-gaap--SalariesAndWages_pp0p0_c20180315__20180316__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__srt--RangeAxis__srt--MinimumMember_z1SrYaSg60oj">205,680</span> USD) to $<span id="xdx_90D_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20180315__20180316__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember__srt--RangeAxis__srt--MaximumMember_zPmO0V9mQS5l">400,000</span> AUD ($<span id="xdx_90A_eus-gaap--SalariesAndWages_pp0p0_c20180315__20180316__us-gaap--TypeOfArrangementAxis__custom--NathanielszEmploymentAgreementMember__srt--RangeAxis__srt--MaximumMember_zGMywGh0zlDi">274,240</span> USD), effective February 2018.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Mr. Nathanielsz’s wife, Sylvia Nathanielsz, is and has been a non-executive part-time employee of the Company since October 2015. Effective February 1, 2018, Mrs. Nathanielsz receives an annual salary of $<span id="xdx_905_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20180128__20180201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrencyMember_zpt8r7SDyqC">120,000</span> AUD ($<span id="xdx_908_eus-gaap--SalariesAndWages_pp0p0_c20180128__20180201__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember_zeFkmrh0GVG7">80,904</span> USD) and is entitled to customary benefits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Pursuant to a February 25, 2016 board resolution, James Nathanielsz shall be paid $<span id="xdx_900_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20160224__20160225__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JamesNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zbKQTZIJ2y6k">4,481</span> AUD ($<span id="xdx_905_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_c20160224__20160225__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JamesNathanielszMember_zKZ9cCX8kI18">3,205</span> USD), on a monthly basis for the purpose of acquiring and maintaining an automobile. For the three months ended September 30, 2021, a total of $$<span id="xdx_900_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20210701__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zTrwbJSefWM7">7,689</span> AUD ($<span id="xdx_908_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_c20210701__20210930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrsNathanielszMember_zhIrUC9nNUTa">5,651</span> USD) in payments have been made with respect to Mr. Nathanielsz’s car allowance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Pursuant to the approval of the Company’s board of directors, on May 14, 2019, Mr. Nathanielsz was granted a $<span id="xdx_90D_eus-gaap--OfficersCompensation_pp0p0_uAUD_c20190513__20190514__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zTCWArOO88eh">460,000</span> AUD ($<span id="xdx_90D_eus-gaap--OfficersCompensation_pp0p0_c20190513__20190514__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember_ziLfYVoEFR9d">315,376</span> USD) bonus for accomplishments achieved while serving as the Company’s Chief Executive Officer during the fiscal year ended June 30, 2019 with $<span id="xdx_90A_ecustom--BonusPayableAmount_pp0p0_uAUD_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_z9peavSiI6S6">200,000</span> AUD ($<span id="xdx_907_ecustom--BonusPayableAmount_pp0p0_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zoZALS8lNCF3">137,120</span> USD) of such bonus payable by the Corporation to the CEO throughout the Corporation’s 2019 fiscal year as the Corporation’s cash resources allow, with the remaining $<span id="xdx_902_ecustom--RemainingBonusAmount_pp0p0_uAUD_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zceybiYGVKJd">260,000</span> AUD ($<span title="[custom:RemainingBonusAmount]"><span id="xdx_906_ecustom--RemainingBonusAmount_pp0p0_c20180701__20190630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z3Li8Y1WayYi">178,256</span></span> USD) of such bonus to be deferred by the CEO until a future date when the Corporation’s cash resources allow for such payment, as agreed to by the CEO. A total of $<span id="xdx_904_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20200701__20210630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zV6UgoUEDNii" style="font: 10pt Times New Roman, Times, Serif" title="Payments form related party">221,890</span> AUD ($<span id="xdx_904_ecustom--BonusPayable_pp0p0_c20200701__20210630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zBWdTFd5PPj3" title="Bonus payable">166,418</span> USD) in payments were made against the bonuses during the year ended June 30, 2021 resulting in a remaining balance of $<span id="xdx_905_ecustom--BonusPayable_pp0p0_uAUD_c20200701__20210630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zFN7GNV96Oil" title="Bonus payable">422,610</span> AUD ($<span id="xdx_90F_ecustom--BonusPayable_pp0p0_c20200701__20210630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--TypeOfArrangementAxis__custom--MrsNathanielszMember_zRsMxqrf9md2" title="Bonus payable">316,957</span> USD) bonus payable as of June 30, 2021. On August 12, 2021, the Board approved a bonus of $<span id="xdx_90D_eus-gaap--OfficersCompensation_pp0p0_c20210811__20210812__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zSIjyzAeBAf7" title="Officers' compensation">177,840</span> USD. On August 12, 2021, pursuant to the Cancellation Agreement, Mr. Nathanielsz agreed to cancel $<span id="xdx_90F_eus-gaap--OfficersCompensation_pp0p0_c20210811__20210812__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zOL3B6kyS4vc" title="Officers' compensation">177,840</span> of the bonus payable in exchange for <span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20210811__20210812__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_z7EORU5fOkxi" title="Debt Conversion, Converted Instrument, Shares Issued">5,928,000</span> shares of the common stock of the Company (see Note 7). A total of $$<span id="xdx_907_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_uAUD_c20210701__20210930__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zckpRC2qEJBk" title="Payments form related party">42,500</span> AUD ($<span id="xdx_90C_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_c20210701__20210930__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zFxDY2HaZEY9" title="Payments form related party">30,660</span> USD) in payments were made against the bonuses during the three months ended September 30, 2021 which resulted to a remaining balance of $<span id="xdx_906_ecustom--BonusPayable_pp0p0_uAUD_c20210701__20210930__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zRiuOG3ZIOJd" title="Bonus payable">142,990</span> AUD ($<span id="xdx_90D_ecustom--BonusPayable_pp0p0_c20210701__20210930__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zOaEh4TI7ixa" title="Bonus payable">103,153</span> USD) bonus payable as of September 30, 2021 which is included in accrued expenses in the accompanying condensed consolidated balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Amended and Restated Employment Agreement - On May 14, 2019 (the “Effective Date”), the Company entered into an Amended and Restated Employment Agreement (the “Employment Agreement”) with James Nathanielsz, the Company’s Chief Executive Officer, Chairman, acting Chief Financial Officer and a director, for a term of <span id="xdx_90C_ecustom--AgreementlTerm_dc_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_z3DnwpYc5J9c" title="Agreement term">three years</span>, subject to automatic <span id="xdx_907_ecustom--AgreementRenewalTerm_dtYxL_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zenS2toJ8RTa" title="Agreement renewal term::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl3891">one</span></span>-year renewals, at an annual salary of $<span id="xdx_901_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zOvUJmTVkEJh" title="Annual salary">400,000</span> AUD. Pursuant to the Employment Agreement, Mr. Nathanielsz was granted options to purchase <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zw2Gfwhnir42" title="Option purchase shares">39</span> shares of the Company’s common stock (the “Nathanielsz Options”), with an exercise price per share of $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zUhJwv1Vmi9l" title="Exercise price">4,675</span> (<span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent_pid_dp_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zdISKL8TIkJe" title="Market price">110%</span> of the closing market price of the Company’s common stock on May 14, 2019 (or $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_znDtkgBG9f65" title="Granted exercise price">4,250</span>), the date of approval of such grant by the Company’s board of directors), (ii) <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--RestrictedStocksUnitsRSUMember_zWlSMqPlB4G3" title="Restricted stock shares of common stock">39</span> restricted stock units of the Company (the “Initial Nathanielsz RSUs”), and (iii) an additional <span id="xdx_90A_ecustom--StockToBeIssuedDuringPeriodValueRestrictedStockUnit_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_z3k96wWhktmi" title="Restricted stock unit issuable">39</span> restricted stock units of the Company (the “Additional Nathanielsz RSUs”). Such options and restricted stock units were granted pursuant to the 2019 Plan approved by the Company’s board of directors on the Effective Date. <span id="xdx_90E_ecustom--OptionsVestedDescription_c20190513__20190514__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember" title="Options vested, description">The Nathanielsz Options have a term of <span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrNathanielszMember_zjXSrkUNxySc" title="Option term">10 years</span> from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz’s continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz’s continued employment with the Company through the applicable vesting date: (i) <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionaNathanielszRSUsMember_znu8ROG6465k" title="Rsus vest, shares">7.80</span> of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the “CTA”) for PRP, the Company’s lead product candidate (“PRP”), for a First-In-Human study for PRP (the “Study”) in an applicable jurisdiction to be selected by the Company, (ii) 7.80 of the Additional Nathanielsz RSUs shall vest upon</span> the CTA being approved in an applicable jurisdiction, (iii) <span title="Rsus vest, shares">7.80</span> of the Additional RSUs shall vest upon the Company completing an equity financing in the amount of at least $<span id="xdx_904_ecustom--GrossProceedsFromEquityFinancing_pp0p0_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionaNathanielszRSUsMember_zIMnFhIlAV7h" title="Gross proceeds from equity financing">4,000,000</span> in gross proceeds, (iv) 7.80 of the Additional Nathanielsz RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (v) the remaining 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested restricted stock unit shall be settled by delivery to Mr. Nathanielsz of one share of the Company’s common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company’s board of directors and subject to the 2019 Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Employment Agreement), (ii) the date that is ten business days following the vesting of such restricted stock unit, (iii) the date of Mr. Nathanielsz’s death or Disability (as defined in the Employment Agreement), and (iv) Mr. Nathanielsz’s employment being terminated either by the Company without Cause or by Mr. Nathanielsz for Good Reason (each as defined in the Employment Agreement). In the event of a Change of Control, any unvested portion of the Nathanielsz Options and such restricted stock units shall vest immediately prior to such event. The 39 vested restricted stock unit are considered issuable as of September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Amended and Restated Services Agreement - On May 14, 2019, the Company also entered into an Amended and Restated Services Agreement (the “Services Agreement”) with Dr. Kenyon, the Company’s Chief Scientific Officer and a director, for a term of <span id="xdx_90B_ecustom--AgreementlTerm_dtYxL_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_ze0xcu10SeV7" title="Agreement term::XDX::3"><span style="-sec-ix-hidden: xdx2ixbrl3915">three</span></span> years, subject to automatic <span id="xdx_903_ecustom--AgreementRenewalTerm_dtYxL_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zAtfCXuUlhji" title="Agreement renewal term::XDX::1"><span style="-sec-ix-hidden: xdx2ixbrl3917">one</span></span>-year renewals, at an annual salary of $<span id="xdx_907_eus-gaap--SalariesAndWages_pp0p0_uAUD_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMemberMember__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zXf0wu8fePl1" title="Annual salary">54,000</span> AUD. In connection with the execution of the Services Agreement, Dr. Kenyon was designated as an executive officer of the Company and assumed a more active executive role with the Company. Pursuant to the Services Agreement, Dr. Kenyon was granted options to purchase <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zvS7Ab55s8f9" title="Option purchase shares">20</span> shares of the Company’s common stock (the “Kenyon Options”), with an exercise price per share of $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zU8nAyBQCwWl" title="Exercise price">4,250</span> (<span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent_dp_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_ziNHSOCB8856" title="Market price">100%</span> of the closing market price of the Company’s common stock on May 14, 2019, the date of approval of such grant by the Company’s board of directors), (ii) <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--AwardTypeAxis__custom--InitialKenyonRSUsMember_zH0wNjk7LdE" title="Restricted stock shares of common stock">20</span> restricted stock units of the Company (the “Initial Kenyon RSUs”), and (iii) an additional <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionalKenyonRSUsMember_zuzPGYxGzvCe" title="Restricted stock shares of common stock">20</span> restricted stock units of the Company (the “Additional Kenyon RSUs”). Such options and restricted stock units were granted pursuant to the 2019 Plan approved by the Company’s board of directors on the Effective Date. The Kenyon Options have a term of <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zSlJJn86aOja" title="Option term">10 years</span> from the date of grant. 1/3rd of the Kenyon Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Dr. Kenyon is employed by the Company and subject to the other provisions of the Services Agreement. The Initial Kenyon RSUs shall vest on the one-year anniversary of the Effective Date, subject to Dr. Kenyon’s continued employment with the Company through such vesting date. The Additional Kenyon RSUs will vest as follows, subject to Dr. Kenyon’s continued employment with the Company through the applicable vesting date: (i) <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionalKenyonRSUsMember_zZgAC3z9YhP" title="Rsus vest, shares">5</span> of the Additional Kenyon RSUs shall vest upon the Company submitting the CTA for PRP for the Study in an applicable jurisdiction to be selected by the Company, (ii) <span title="Rsus vest, shares">5</span> of the Additional Kenyon RSUs shall vest upon the Company completing an equity financing in the amount of at least $<span id="xdx_90A_ecustom--GrossProceedsFromEquityFinancing_pp0p0_c20190513__20190514__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--AwardTypeAxis__custom--AdditionalKenyonRSUsMember_zNlEuIx8jIdl" title="Gross proceeds from equity financing">4,000,000</span> in gross proceeds, (iii) 5 of the Additional Kenyon RSUs shall vest upon the shares of the Company’s Common Stock being listed on a senior stock exchange (NYSE, NYSEMKT or NASDAQ), and (iv) the remaining 5 of the Additional Kenyon RSUs shall vest upon the Company enrolling its first patient in the Study. Each vested Kenyon RSU shall be settled by delivery to Mr. Kenyon of one share of the Company’s common stock and/or the fair market value of one share of common stock in cash, at the sole discretion of the Company’s board of directors and subject to the Plan, on the first to occur of: (i) the date of a Change of Control (as defined in the Services Agreement), (ii) the date that is ten business days following the vesting of such Kenyon RSU, (iii) the date of Dr. Kenyon’s death or Disability (as defined in the Services Agreement), and (iv) Dr. Kenyon’s employment being terminated either by the Company without Cause or by Dr. Kenyon for Good Reason (as defined in the Services Agreement). In the event of a Change of Control (as defined in the Services Agreement), 50% of any unvested portion of the Kenyon Options and the Kenyon RSUs shall vest immediately prior to such event. The <span id="xdx_90D_ecustom--StockToBeIssuedDuringPeriodValueRestrictedStockUnit_c20210701__20210930__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember_zB17fYlEexz6" title="Restricted stock unit issuable">20</span> vested restricted stock unit are considered issuable as of September 30, 2021. As of June 30, 2021, total accrued salaries of $<span id="xdx_906_eus-gaap--AccruedSalariesCurrent_iI_pp0p0_uAUD_c20210630__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zSkbFVtK1Kma" title="Accrued salaries">135,000</span> AUD ($<span id="xdx_90C_eus-gaap--AccruedSalariesCurrent_iI_pp0p0_c20210630_zFgxVESQPTOc" title="Accrued salaries">101,250</span> USD) was included in accrued expenses. On August 12, 2021, pursuant to the Cancellation Agreement, Mr. Kenyon agreed to cancel accrued salaries of $<span id="xdx_900_ecustom--CancellationOfAccruedSalaries_iI_dtY_c20210812__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zJ5ujDQKDPC4" title="Cancellation of accrued salary">102,600</span> in exchange for <span id="xdx_90A_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20210811__20210812__us-gaap--TypeOfArrangementAxis__custom--ServicesAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DrKenyonMember_zeayPO4QmVS">3,420,000</span> shares of the common stock of the Company (see Note 7). As of September 30, 2021, total accrued salaries of $<span id="xdx_901_eus-gaap--AccruedSalariesCurrent_iI_pp0p0_uAUD_c20210930__us-gaap--AwardTypeAxis__custom--AUDCurrenryMember_zkxzMD0F9wGh">13,500</span> AUD ($<span id="xdx_909_eus-gaap--AccruedSalariesCurrent_iI_pp0p0_c20210930_zYaZ3iRR0tXb">9,739</span> USD) was included in accrued expenses in the accompanying condensed consolidated balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Intercompany Loans</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">All Intercompany loans were made by the parent to the subsidiary, Propanc PTY LTD, which have not been repaid as of September 30, 2021. Effective fiscal year 2021, the parent company determined that intercompany loans will not be repaid in the foreseeable future and thus, per ASC 830-20-35-3, gains and losses from measuring the intercompany balances are recorded within cumulative translation adjustment, a component of other comprehensive income. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> 53384 55500 32076 33347 3606 2431 7735 9204 84000 60598 2019-02-25 25000 300000 205680 0.095 2 300000 205680 400000 274240 120000 80904 4481 3205 7689 5651 460000 315376 200000 137120 260000 178256 221890 166418 422610 316957 177840 177840 5928000 42500 30660 142990 103153 P3Y 400000 39 4675 1.10 4250 39 39 The Nathanielsz Options have a term of 10 years from the date of grant. 1/3rd of the Nathanielsz Options shall vest every successive one-year anniversary following the Effective Date, provided, that on each such vesting date Mr. Nathanielsz is employed by the Company and subject to the other provisions of the Employment Agreement. The Initial Nathanielsz RSUs shall vest on the one-year anniversary of the Effective Date, subject to Mr. Nathanielsz’s continued employment with the Company through such vesting date. The Additional Nathanielsz RSUs will vest as follows, subject to Mr. Nathanielsz’s continued employment with the Company through the applicable vesting date: (i) 7.80 of the Additional Nathanielsz RSUs shall vest upon the Company submitting Clinical Trial Application (the “CTA”) for PRP, the Company’s lead product candidate (“PRP”), for a First-In-Human study for PRP (the “Study”) in an applicable jurisdiction to be selected by the Company, (ii) 7.80 of the Additional Nathanielsz RSUs shall vest upon P10Y 7.80 4000000 54000 20 4250 1 20 20 P10Y 5 4000000 20 135000 101250 102600 3420000 13500 9739 <p id="xdx_800_eus-gaap--ConcentrationRiskDisclosureTextBlock_zRlJNNTBEOJ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 10 – <span id="xdx_825_zh1KlZqvgQEb">CONCENTRATIONS AND RISKS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Concentration of Credit Risk</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company maintains its cash in banks and financial institutions in Australia. Bank deposits in Australian banks are uninsured. The Company has not experienced any losses in such accounts through September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company primarily relied on funding from one convertible debt lender and received proceeds after deductions of $<span id="xdx_90C_eus-gaap--AmortizationOfFinancingCostsAndDiscounts_pp0p0_c20210701__20210930_zvV3ouFXogye" title="Discounts and debt issuance cost">7,500</span> for original issue discounts and debt issue costs during the three months ended September 30, 2021 from a lender of $<span id="xdx_901_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_c20210701__20210930_zZ5A9lGsQync">160,000</span> which represents approximately <span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_uPure_c20210930_zRDKV2Tjny3a">100%</span> of total proceeds received by the Company during the three months ended September 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company did <span id="xdx_909_eus-gaap--ProceedsFromConvertibleDebt_pp0p0_doxL_c20200701__20200930_zLrM3Z83L9M5" title="::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl3953">no</span></span>t receive any funding from lenders during the three months ended September 30, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Receivable Concentration</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021 and June 30, 2021, the Company’s receivables were <span id="xdx_900_ecustom--ReimbursementOnGoodsAndServiceTaxReceivablePercentage_dp_c20210701__20210930_zCHtZ5g5SYGh" title="Reimbursement on goods and service tax receivable percentage"><span id="xdx_90D_ecustom--ReimbursementOnGoodsAndServiceTaxReceivablePercentage_dp_c20200701__20210630_zWVZomWa1LN6" title="Reimbursement on goods and service tax receivable percentage">100%</span></span> related to reimbursements on GST taxes paid.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Patent and Patent Concentration</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company has filed multiple patent applications relating to its lead product, PRP. The Company’s lead patent application has been granted and remains in force in the United States, Belgium, Czech Republic, Denmark, France, Germany, Ireland, Italy, Netherlands, Portugal, Spain, Sweden, Switzerland, Liechtenstein, Turkey, United Kingdom, Australia, China, Japan, Indonesia, Israel, New Zealand, Singapore, Malaysia, South Africa, Mexico, Republic of Korea, India and Brazil. In Canada, the patent application remains under examination.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In 2016 and early 2017, we filed other patent applications. Three applications were filed under the Patent Cooperation Treaty (the “PCT”). The PCT assists applicants in seeking patent protection by filing one international patent application under the PCT, applicants can simultaneously seek protection for an invention in over 150 countries. Once filed, the application is placed under the control of the national or regional patent offices, as applicable, in what is called the national phase. One of the PCT applications filed in November 2016, entered national phase in July 2018 and another PCT application is currently entering national phase in August 2018. A third PCT application entered the national phase in October 2018.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In July 2020, a world first patent was granted in Australia for the cancer treatment method patent family. Presently, there are 31 granted patents and 34 patents under examination in key global jurisdictions relating to the use of proenzymes against solid tumors, covering the lead product candidate PRP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Further patent applications are expected to be filed to capture and protect additional patentable subject matter based on the Company’s field of technology relating to pharmaceutical compositions of proenzymes for treating cancer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Foreign Operations</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 26.2pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As of September 30, 2021 and June 30, 2021, the Company’s operations are based in Camberwell, Australia, however the majority of research and development is being conducted in the European Union.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 26.2pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On July 22, 2016, the Company formed a wholly owned subsidiary, Propanc (UK) Limited under the laws of England and Wales for the purpose of submitting an orphan drug application with the European Medicines Agency as a small and medium-sized enterprise. As of September 30, 2021 and June 30, 2021, there has been no activity within this entity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> 7500 160000 1 1 1 <p id="xdx_804_eus-gaap--DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_zogQn9ohpdga" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 11 - <span id="xdx_82E_z1zpYd1cMdD4">DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Derivative Financial Instruments:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.45in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company applies the provisions of ASC 815-40, <i>Contracts in Entity’s Own Equity</i>, under which convertible instruments and warrants, which contain terms that protect holders from declines in the stock price (reset provisions), may not be exempt from derivative accounting treatment. As a result, warrants and embedded conversion options in convertible debt are recorded as a liability and are revalued at fair value at each reporting date. If the fair value of the warrants exceeds the face value of the related debt, the excess is recorded as change in fair value in operations on the issuance date. The Company had $<span id="xdx_902_eus-gaap--ConvertibleDebt_iI_pp0p0_c20210930__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--ConvertibleDebtMember_zwH6m3Amf23a" title="Convertible debt"><span id="xdx_903_eus-gaap--ConvertibleDebt_iI_pp0p0_c20210630__us-gaap--DerivativeInstrumentRiskAxis__us-gaap--ConvertibleDebtMember_zwaTAZVdiqi6">80,000</span></span> (1 note) of convertible debt, which is treated as derivative instruments outstanding at September 30, 2021 and June 30, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company calculates the estimated fair values of the liabilities for derivative instruments using the Binomial Trees Method. The closing price of the Company’s common stock at September 30, 2021, the last trading day of the period ended September 30, 2021, was $<span id="xdx_90D_eus-gaap--SharePrice_iI_c20210930_zWpDL0RPjJL1" title="Share Price">0.026</span>. The Volatility, expected remaining term and risk-free interest rates used to estimate the fair value of derivative liabilities at September 30, 2021 are indicated in the table that follows. The expected term is equal to the remaining term of the warrants or convertible instruments and the risk-free rate is based upon rates for treasury securities with the same term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Convertible Debt</b></span></p> <p id="xdx_89C_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_ziVEwM4zVGa4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B3_zk9Bx8xU2Kvf" style="display: none">SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Initial Valuations<br/> (on new derivative<br/> instruments entered</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>into during the three<br/> months ended<br/> September 30, 2021)</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%"><span style="font-family: Times New Roman, Times, Serif">Volatility</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dp_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_z91KrVbagw65" title="Debt instrument, measurement input, percentages"><span style="-sec-ix-hidden: xdx2ixbrl3968">-</span></span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dp_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_znDDVGuM3xK6" style="font: 10pt Times New Roman, Times, Serif" title="Debt instrument, measurement input, percentages">206.00</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected Remaining Term (in years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90B_eus-gaap--DebtInstrumentTerm_c20210701__20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zcyHeINBsNI9" title="Debt instrument, measurement input, term"><span style="-sec-ix-hidden: xdx2ixbrl3972">-</span></span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--DebtInstrumentTerm_dtY_c20210701__20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zWMN60Ok1IOk" title="Debt instrument, measurement input, term">0.01</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk Free Interest Rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dp_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zTlxnS98e5R5" title="Debt instrument, measurement input, percentages"><span style="-sec-ix-hidden: xdx2ixbrl3976">-</span></span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90A_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dp_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zBC50CDGAAK1" title="Debt instrument, measurement input, percentages">0.07</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected dividend yield</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dn_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zCbCaGbL5Jd7" title="Debt instrument, measurement input, percentages">None</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_901_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dpn_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zIiMk9sIpq1" title="Debt instrument, measurement input, percentages">None</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A2_z9QCLngR86Z4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Fair Value Measurements:</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_89E_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zQ8Y0zdM2HX4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company measures and reports at fair value the liability for derivative instruments. The fair value liabilities for price adjustable warrants and embedded conversion options have been recorded as determined utilizing the Binomial Trees model. The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and June 30, 2021:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8BF_z92R6udxgfO5" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Balance at<br/> September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Quoted Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Identical<br/> Assets</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Observable<br/> Inputs</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Unobservable Inputs</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 1)</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 2)</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 3)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Embedded conversion option liabilities</span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_985_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20210930_znrDt9zeQUQj" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pdp0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zyf9mHFTG7D6" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3988">—</span></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98F_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pdp0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zDR2luvuqBKe" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3990">—</span></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zfYeJvYPLE83" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98F_eus-gaap--DerivativeLiabilities_iI_pp0p0_c20210930_zpZqMmMLg1Nj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--DerivativeLiabilities_iI_pdp0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zI42zixfZpa1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3996">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--DerivativeLiabilities_iI_pdp0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z4N9YaP254Ea" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3998">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--DerivativeLiabilities_iI_pp0p0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zFa2qEvswSgl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Balance at<br/> June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Quoted Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Identical<br/> Assets</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Observable<br/> Inputs</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Unobservable Inputs</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 1)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 2)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 3)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Embedded conversion option liabilities</span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20210630_zxSBZDQIJc8e" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98A_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pdp0" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl4004">—</span></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pdp0" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl4006">—</span></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zmZMI2T7dhS3" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_980_eus-gaap--DerivativeLiabilities_iI_pp0p0_c20210630_zY5UsolInuf2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl4012">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl4014">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--DerivativeLiabilities_iI_pp0p0_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z8dP5d3YIqD9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"/> <p id="xdx_8A7_zWt2ql5TwhZ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zCMqAhbosFH6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The following is a roll forward for the three months ended September 30, 2021 of the fair value liability of price adjustable derivative instruments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_z0UpiPSRcN17" style="display: none">SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Fair Value of</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Liability for</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Derivative</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Instruments</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_981_eus-gaap--DerivativeLiabilities_iS_pp0p0_c20210701__20210930_zye6j61g3l84" style="width: 14%; text-align: right" title="Balance at Beginning"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Change in fair value included in statements of operations</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_pp0p0_c20210701__20210930_zXS50oq2qLa6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Balance at Beginning"><span style="font-family: Times New Roman, Times, Serif">3,904</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at September 30, 2021</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--DerivativeLiabilities_iE_pp0p0_c20210701__20210930_zN3IqKOe7TQb" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance at Ending"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p id="xdx_8A7_z38uRLnE5jX" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"/> 80000 80000 0.026 <p id="xdx_89C_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_ziVEwM4zVGa4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B3_zk9Bx8xU2Kvf" style="display: none">SCHEDULE OF FAIR VALUE MEASUREMENTS, RECURRING AND NONRECURRING, VALUATION TECHNIQUES</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Initial Valuations<br/> (on new derivative<br/> instruments entered</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>into during the three<br/> months ended<br/> September 30, 2021)</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%"><span style="font-family: Times New Roman, Times, Serif">Volatility</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dp_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_z91KrVbagw65" title="Debt instrument, measurement input, percentages"><span style="-sec-ix-hidden: xdx2ixbrl3968">-</span></span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 18%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_902_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dp_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_znDDVGuM3xK6" style="font: 10pt Times New Roman, Times, Serif" title="Debt instrument, measurement input, percentages">206.00</span></span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected Remaining Term (in years)</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90B_eus-gaap--DebtInstrumentTerm_c20210701__20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zcyHeINBsNI9" title="Debt instrument, measurement input, term"><span style="-sec-ix-hidden: xdx2ixbrl3972">-</span></span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--DebtInstrumentTerm_dtY_c20210701__20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zWMN60Ok1IOk" title="Debt instrument, measurement input, term">0.01</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Risk Free Interest Rate</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dp_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zTlxnS98e5R5" title="Debt instrument, measurement input, percentages"><span style="-sec-ix-hidden: xdx2ixbrl3976">-</span></span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_90A_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dp_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zBC50CDGAAK1" title="Debt instrument, measurement input, percentages">0.07</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">Expected dividend yield</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dn_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zCbCaGbL5Jd7" title="Debt instrument, measurement input, percentages">None</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_901_eus-gaap--DebtInstrumentMeasurementInput_iI_pid_dpn_uPure_c20210930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zIiMk9sIpq1" title="Debt instrument, measurement input, percentages">None</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 2.0600 P0Y3D 0.0007 0 0 <p id="xdx_89E_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zQ8Y0zdM2HX4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The Company measures and reports at fair value the liability for derivative instruments. The fair value liabilities for price adjustable warrants and embedded conversion options have been recorded as determined utilizing the Binomial Trees model. The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and June 30, 2021:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8BF_z92R6udxgfO5" style="display: none">SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS</span> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Balance at<br/> September 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Quoted Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Identical<br/> Assets</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Observable<br/> Inputs</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Unobservable Inputs</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: right"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 1)</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 2)</span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="text-align: center; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 3)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Embedded conversion option liabilities</span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_985_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20210930_znrDt9zeQUQj" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pdp0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zyf9mHFTG7D6" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3988">—</span></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98F_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pdp0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zDR2luvuqBKe" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3990">—</span></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zfYeJvYPLE83" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98F_eus-gaap--DerivativeLiabilities_iI_pp0p0_c20210930_zpZqMmMLg1Nj" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_eus-gaap--DerivativeLiabilities_iI_pdp0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zI42zixfZpa1" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3996">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--DerivativeLiabilities_iI_pdp0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z4N9YaP254Ea" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl3998">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--DerivativeLiabilities_iI_pp0p0_c20210930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zFa2qEvswSgl" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Balance at<br/> June 30, 2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Quoted Prices</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>in Active</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Markets for</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Identical<br/> Assets</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Other</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Observable<br/> Inputs</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Significant</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Unobservable Inputs</b></span></p></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 1)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 2)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">(Level 3)</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Embedded conversion option liabilities</span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_986_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20210630_zxSBZDQIJc8e" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98A_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pdp0" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl4004">—</span></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pdp0" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl4006">—</span></span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_eus-gaap--EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability_iI_pp0p0_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zmZMI2T7dhS3" style="border-bottom: Black 1.5pt solid; width: 10%; text-align: right" title="Embedded conversion option liabilities"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Total</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_980_eus-gaap--DerivativeLiabilities_iI_pp0p0_c20210630_zY5UsolInuf2" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_984_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl4012">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--DerivativeLiabilities_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_pdp0" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl4014">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98E_eus-gaap--DerivativeLiabilities_iI_pp0p0_c20210630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z8dP5d3YIqD9" style="border-bottom: Black 1.5pt solid; text-align: right" title="Total"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"/> 58124 58124 58124 58124 54220 54220 54220 54220 <p id="xdx_896_eus-gaap--ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_zCMqAhbosFH6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The following is a roll forward for the three months ended September 30, 2021 of the fair value liability of price adjustable derivative instruments:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B9_z0UpiPSRcN17" style="display: none">SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Fair Value of</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Liability for</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Derivative</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Instruments</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Balance at June 30, 2021</span></td><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_981_eus-gaap--DerivativeLiabilities_iS_pp0p0_c20210701__20210930_zye6j61g3l84" style="width: 14%; text-align: right" title="Balance at Beginning"><span style="font-family: Times New Roman, Times, Serif">54,220</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Change in fair value included in statements of operations</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_984_eus-gaap--EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet_pp0p0_c20210701__20210930_zXS50oq2qLa6" style="border-bottom: Black 1.5pt solid; text-align: right" title="Balance at Beginning"><span style="font-family: Times New Roman, Times, Serif">3,904</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Balance at September 30, 2021</span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_983_eus-gaap--DerivativeLiabilities_iE_pp0p0_c20210701__20210930_zN3IqKOe7TQb" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance at Ending"><span style="font-family: Times New Roman, Times, Serif">58,124</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> 54220 3904 58124 <p id="xdx_80E_eus-gaap--SubsequentEventsTextBlock_zBdf9ZOf6jq3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE 12 – <span id="xdx_824_zliAKEcZXTY6">SUBSEQUENT EVENTS</span> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Exercise of Warrants</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In October 2021, the Company issued <span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_c20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__custom--ElevenSeriesAWarrantsMember_zTaypf8UVaP3">2,199,989</span> shares of common stock from the alternate cashless exercise of 11 Series A warrants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Note Conversions</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In October 2021, the Company issued an aggregate of <span id="xdx_90F_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20211001__20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z0cEUQXkrEMi">1,818,097</span> shares of its common stock at an average contractual conversion price of $<span id="xdx_907_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_c20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zdoPRJX58rwe">0.01</span>, as a result of the conversion of principal of $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zurT2Mh9EFfk">25,000</span>, interest of $<span><span id="xdx_907_eus-gaap--InterestPayableCurrent_iI_pp0p0_c20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_znl6ciVAg1Oj">1,726</span></span> and conversion fees $<span id="xdx_902_ecustom--ConversionFees_pp0p0_c20211001__20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zpmLqz6cRsT7">0</span> underlying certain outstanding convertible notes converted during such period. The Company reclassified $<span id="xdx_901_eus-gaap--AdditionalPaidInCapital_iI_pp0p0_c20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z1SDhUYOwhUh">16,667</span> in put premiums to additional paid in capital following these conversions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Common Stock Issuable</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The <span id="xdx_908_eus-gaap--CommonStockSharesIssued_iI_c20211031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z9wgoqHrTdH">2,002,490</span> shares of common stock issuable as of September 30, 2021 were issued in October 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Consulting Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_ecustom--ConsultingAgreementDescription_c20211019__20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z68zps5mSWji" title="Consulting agreement description">On October 1, 2021, the Company entered int a consulting agreement (the “Consulting Agreement”) with a consultant who will assist in the development of the Company’s business and financing activities. The consultant will serve initially as an independent contractor, and upon certain mutually agreed upon conditions being met, will be appointed Vice Chairman, President and Interim CFO. The term of the Consulting Agreement shall be for three years commencing on October 1, 2021, and can be terminated by either party upon 30 day written notice. The monthly payment per the Consulting Agreement is $<span id="xdx_90E_ecustom--ConsultingAgreementMonthlyPayment_c20211019__20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zTgvambp0mw7" title="Consulting agreement, monthly payment">7,000</span>. The Company will also issue shares of common stock equal to 1% of the total issued and outstanding shares at the end of each year of service.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>PROPANC BIOPHARMA, INC. AND SUBSIDIARY</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>SEPTEMBER 30, 2021</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>October 21, 2021 Securities Purchase Agreement</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Effective October 21, 2021, the Company entered into a securities purchase agreement with Sixth Street Lending LLC (“Sixth Street”), pursuant to which Sixth Street purchased a convertible promissory note (the “October 21, 2021 Sixth Street”) from the Company in the aggregate principal amount of $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_c20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zc7nWc13krPh">63,750</span>, such principal and the interest thereon convertible into shares of the Company’s common stock at the option of Sixth Street any time after the six-month anniversary of the October 21, 2021 Sixth Street. The October 21, 2021 Sixth Street contains an original discount of $<span id="xdx_907_eus-gaap--DebtInstrumentUnamortizedDiscount_iI_c20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zckIAeInq8A9">3,750</span>. The Company intends to use the net proceeds from the October 21, 2021 Sixth Street for general working capital purposes. The maturity date of the October 21, 2021 Sixth Street Note is <span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_dd_c20211019__20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zE1DM51b0p48">October 21, 2022</span>. The October 21, 2021 Sixth Street Note bears interest at a rate of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20211019__20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_z6Dh2ArSB0Xf">8%</span> per annum, which interest may be paid by the Company to Sixth Street in shares of the Company’s common stock; but shall not be payable until the October 21, 2021 Sixth Street Note becomes payable, whether at the maturity date or upon acceleration or by prepayment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--DebtInstrumentDescription_c20211019__20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_z7EBQht24Kj8" title="Debt description">During the first 60 to 180 days following the date of these notes, the Company has the right to prepay the principal and accrued but unpaid interest due under the above notes issued to Sixth Street, together with any other amounts that the Company may owe the holder under the terms of the note, at a premium ranging from 110% to 129% as defined in the note agreement. After this initial 180-day period, the Company does not have a right to prepay such notes.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The conversion price for the above Sixth Street notes shall be equal to a <span id="xdx_90D_ecustom--DebtCoversionPercentage_dp_c20211019__20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zilqj1sUw0v">35%</span> discount of the market price which means the average of the lowest three trading prices of the Common Stock for the ten trading days immediately prior to the delivery of a Notice of Conversion. Notwithstanding the foregoing, Sixth Street shall be restricted from effecting a conversion if such conversion, along with other shares of the Company’s common stock beneficially owned by Sixth Street and its affiliates, exceeds <span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zlHWJNKFJQve">9.99%</span> of the outstanding shares of the Company’s common stock. These notes are treated as stock settled debt under ASC 480 and accordingly the Company recorded a total of $<span id="xdx_90E_ecustom--GainFromSettlementOfDebtNet_c20211019__20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zkIkx4wftODa">34,327</span> put premium.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The above Sixth Street notes contain certain events of default, upon which principal and accrued interest will become immediately due and payable. In addition, upon an event of default, <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateTerms_c20211019__20211021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--OctoberTwentyOneTwoThousandAndTwentyOneSecuritiesPurchaseAgreementMember_zxb9fpKcrTDh" title="Debt Instrument, Interest Rate Terms">interest on the outstanding principal shall accrue at a default interest rate of 22% per annum</span>, or if such rate is usurious or not permitted by current law, then at the highest rate of interest permitted by law. Further, certain events of default may trigger penalty and liquidated damage provisions.</span></p> 2199989 1818097 0.01 25000 1726 0 16667 2002490 On October 1, 2021, the Company entered int a consulting agreement (the “Consulting Agreement”) with a consultant who will assist in the development of the Company’s business and financing activities. The consultant will serve initially as an independent contractor, and upon certain mutually agreed upon conditions being met, will be appointed Vice Chairman, President and Interim CFO. The term of the Consulting Agreement shall be for three years commencing on October 1, 2021, and can be terminated by either party upon 30 day written notice. The monthly payment per the Consulting Agreement is $7,000. The Company will also issue shares of common stock equal to 1% of the total issued and outstanding shares at the end of each year of service. 7000 63750 3750 2022-10-21 0.08 During the first 60 to 180 days following the date of these notes, the Company has the right to prepay the principal and accrued but unpaid interest due under the above notes issued to Sixth Street, together with any other amounts that the Company may owe the holder under the terms of the note, at a premium ranging from 110% to 129% as defined in the note agreement. After this initial 180-day period, the Company does not have a right to prepay such notes. 0.35 0.0999 34327 interest on the outstanding principal shall accrue at a default interest rate of 22% per annum