Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Document and Entity Information: | ||
Entity Registrant Name | SANGUI BIOTECH INTERNATIONAL INC | |
Document Type | 10-K | |
Document Period End Date | Jun. 30, 2017 | |
Trading Symbol | sgbi | |
Amendment Flag | false | |
Entity Central Index Key | 1,104,280 | |
Current Fiscal Year End Date | --06-30 | |
Entity Common Stock, Shares Outstanding | 187,261,503 | |
Entity Public Float | $ 181,761,503 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | No | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
CURRENT ASSETS | ||
Cash | $ 56,990 | $ 70,074 |
Prepaid expenses and other assets | 26,662 | 30,292 |
Tax refunds receivable | 3,183 | 4,070 |
Accounts receivable, net | 468 | 504 |
Note receivable - related party | 6,470 | 5,479 |
Total Current Assets | 93,773 | 110,419 |
TOTAL ASSETS | 93,773 | 110,419 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 188,855 | 200,446 |
Related party payables | 12,214 | 8,445 |
Note payable | 39,118 | 38,154 |
Notes payable - related party | 114,109 | 110,940 |
Total Current Liabilities | 354,296 | 357,985 |
STOCKHOLDERS' EQUITY (Deficit) | ||
Common stock | 32,709,868 | 32,392,657 |
Additional paid-in capital | 4,513,328 | 4,513,328 |
Treasury stock | (19,387) | (19,387) |
Accumulated deficit | (36,978,298) | (36,669,318) |
Total Stockholders' Equity (Deficit) | (260,523) | (247,566) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 93,773 | $ 110,419 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
REVENUES | ||
Product sales | $ 67,653 | $ 48,009 |
COST OF SALES | 693 | 293 |
GROSS MARGIN | 66,960 | 47,716 |
OPERATING EXPENSES | ||
Research and development | 16,530 | 37,780 |
Professional fees | 225,901 | 145,619 |
General and administrative | 141,328 | 225,221 |
Total Operating Expenses | 383,759 | 408,620 |
OPERATING LOSS | (316,799) | (360,904) |
OTHER INCOME (EXPENSE) | ||
Gain in change in derivative liabilities | 28,057 | |
Amortization of debt discount | (50,000) | |
Interest expense | (9,211) | (69,835) |
Gain on sale of joint venture | 6,322 | |
Loss on foreign currency exchange | (3,596) | |
Total other income (expense) | (12,807) | (85,456) |
Loss before income taxes and non-controlling interest | (329,606) | (446,360) |
NET INCOME (LOSS) | (329,606) | $ (446,360) |
Less: Net loss attributable to non-controlling interest | $ (20,626) | |
BASIC AND DILUTED LOSS PER SHARE | $ 0 | $ 0 |
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 178,461,623 | 154,807,880 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (329,606) | $ (446,360) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Gain on change in derivative liability | (28,057) | |
Amortization of deferred finance fees | 50,000 | |
Amortization of debt discount | (50,000) | |
Common stock issued for services | 9,620 | |
Foreign currency transaction gain/loss | $ 3,169 | |
Changes in operating assets and liabilities | ||
Trade accounts receivable | 48 | (6,989) |
Prepaid expenses and other current assets | 4,294 | 7,040 |
Tax refunds receivable | 929 | 12,619 |
Related party receiveables | (803) | |
Accounts payable and accrued expenses | (14,546) | 69,683 |
Related parties accounts payable | 3,792 | (102,693) |
Net Cash Used in Operating Activities | (323,103) | (394,757) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Proceeds from sale of interest in joint venture | 6,941 | |
Net Cash Provided by Investing Activities | 6,941 | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from resell of treasury stock | 22,210 | |
Prepayment of convertible debt | (26,300) | |
Proceeds from common stock issued | 307,590 | 432,456 |
Net Cash Provided by Financing Activities | 307,590 | 428,366 |
EFFECTS OF EXCHANGE RATE | 2,428 | 11,352 |
NET INCREASE (DECREASE) IN CASH | (13,084) | 52,402 |
CASH AT BEGINNING OF PERIOD | 70,074 | 17,672 |
CASH AT END OF PERIOD | 56,990 | 70,074 |
CASH PAID FOR: | ||
Interest | $ 1,542 | 9,820 |
NON CASH INVESTING AND FINANCING ACTIVITIES | ||
Debt discount on convertible note and related derivative liability | $ 50,000 | |
Conversion of debt and interest into common stock | 2647400.00% | |
Change in derivative due to conversion | $ 21,943 | |
Treasury stock reissued | 320,000 | |
Forgiveness of liabilities owed to Director | $ 23,329 |