Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
6 Months Ended |
12 Months Ended |
Dec. 31, 2019 |
Dec. 31, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
| Net loss |
$ (3,359,049)
|
$ (3,574,974)
|
$ (5,758,369)
|
$ (7,039,155)
|
| Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: |
|
|
|
|
| Issuance and amortization of common stock and warrants for services |
1,024,610
|
69,000
|
245,145
|
130,000
|
| Issuance of convertible promissory notes for services |
|
|
|
310,000
|
| (Gain) loss on settlements, net |
|
(14,289)
|
(14,101)
|
18,585
|
| Foreign currency transaction loss (gain) |
(82,411)
|
613,912
|
690,748
|
694,614
|
| Depreciation expense |
1,270
|
1,068
|
2,306
|
2,225
|
| Amortization of debt discounts |
307,085
|
303,813
|
389,673
|
853,459
|
| Change in fair value of derivative liabilities |
156,068
|
1,931,646
|
2,472,146
|
7,612
|
| Gain on extinguishment of debt |
(20,176)
|
(1,165,516)
|
(1,204,242)
|
(251,392)
|
| Stock option expense |
|
|
|
516,148
|
| Reduction of put premium due to payment of debt |
|
|
|
(80,769)
|
| Stock option and restricted stock expense |
150,208
|
|
|
|
| Accretion of put premium |
698,307
|
699,230
|
706,154
|
1,784,231
|
| Changes in Assets and Liabilities: |
|
|
|
|
| GST receivable |
3,024
|
(2,757)
|
489
|
1,636
|
| Prepaid expenses and other assets |
76,990
|
(53,104)
|
(83,296)
|
(29,842)
|
| Accounts payable |
(93,233)
|
(26,388)
|
(164,926)
|
732,794
|
| Deferred rent |
1,921
|
|
|
|
| Employee benefit liability |
15,829
|
177,232
|
188,326
|
28,052
|
| Accrued expenses |
(134,768)
|
(51,533)
|
377,846
|
(70,537)
|
| Accrued interest |
111,448
|
107,643
|
184,198
|
214,694
|
| NET CASH USED IN OPERATING ACTIVITIES |
(1,142,877)
|
(1,056,786)
|
(2,060,037)
|
(2,177,645)
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
| Purchase of equipment |
|
|
(2,874)
|
|
| NET CASH USED IN INVESTING ACTIVITIES |
|
|
(2,874)
|
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
| Loan repayments |
|
|
|
(2,326)
|
| Proceeds from convertible promissory notes, net of original issue discounts and issue costs |
1,130,000
|
1,054,089
|
1,369,000
|
2,890,080
|
| Repayments of convertible promissory notes |
|
(219,000)
|
(272,000)
|
(490,181)
|
| Proceeds from the issuance of common stock |
|
405,773
|
1,100,380
|
|
| Fees associated with offering costs |
|
(15,000)
|
(15,000)
|
|
| Debt issuance cost |
|
|
(63,850)
|
|
| Proceeds from the exercise of warrants |
|
30
|
30
|
|
| NET CASH PROVIDED BY FINANCING ACTIVITIES |
1,130,000
|
1,225,892
|
2,118,560
|
2,396,488
|
| Effect of exchange rate changes on cash |
22,505
|
(62,827)
|
(73,175)
|
(267,965)
|
| NET INCREASE IN CASH |
9,628
|
104,617
|
(17,527)
|
(49,122)
|
| CASH AT BEGINNING OF PERIOD |
2,394
|
19,921
|
19,921
|
69,043
|
| CASH AT END OF PERIOD |
12,022
|
124,538
|
2,394
|
19,921
|
| Cash paid during the year: |
|
|
|
|
| Interest |
4,467
|
8,585
|
100,719
|
16,899
|
| Income Tax |
|
|
|
|
| Supplemental Disclosure of Non-Cash Investing and Financing Activities |
|
|
|
|
| Reduction of put premium related to conversions of convertible notes |
160,205
|
1,308,393
|
1,824,317
|
948,129
|
| Conversion of convertible notes and accrued interest to common stock |
318,768
|
2,508,421
|
3,350,783
|
2,770,187
|
| Proceeds receivable from the issuance of common stock |
|
168,787
|
|
|
| Discounts related to warrants issued with convertible notes |
375,904
|
|
|
|
| Deferred financing costs associated with equity purchase agreement |
|
298,923
|
318,059
|
|
| Discounts related to derivative liability |
115,000
|
50,000
|
180,000
|
543,744
|
| Settlement of accounts payable for shares of common stock |
|
|
|
|
| Issue and amortization of common stock and warrants for services |
1,024,610
|
69,000
|
|
|
| Operating lease right-of-use asset and operating lease liability recorded on adoption of ASC 842 |
$ 46,696
|
|
|
|