Cover
Cover - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Sep. 30, 2023 | Dec. 30, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jun. 30, 2023 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity File Number | 000-56131 | ||
Entity Registrant Name | FORZA INNOVATIONS, INC. | ||
Entity Central Index Key | 0001683131 | ||
Entity Tax Identification Number | 30-0852686 | ||
Entity Incorporation, State or Country Code | WY | ||
Entity Address, Address Line One | 406 9th Avenue | ||
Entity Address, Address Line Two | Suite 210 | ||
Entity Address, City or Town | San Diego | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 92101 | ||
City Area Code | 619 | ||
Local Phone Number | 324-7388 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 815,939 | ||
Entity Common Stock, Shares Outstanding | 1,901,878,583 | ||
Auditor Name | BF Borgers CPA PC | ||
Auditor Firm ID | 5041 | ||
Auditor Location | Lakewood, CO |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Current assets: | ||
Cash | $ 295,914 | |
Prepaid | 0 | 5,130 |
Notes receivable, net of allowance of $46,987 and $0, respectively | ||
Total current assets | 301,044 | |
Machinery and equipment, net | 91,404 | 155,599 |
Deposit | 5,913 | |
Total long term assets | 91,404 | 161,512 |
Total Assets | 91,404 | 462,556 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 110,792 | 49,972 |
Accrued interest | 284,092 | 129,564 |
Convertible notes payable, net of discount of $256,653 and $424,889, respectively | 1,787,069 | 905,111 |
Derivative liability | 2,475,446 | 662,982 |
Loan payable | 22,729 | 22,729 |
Due to related party | 19,306 | 19,406 |
Total current liabilities | 4,699,434 | 1,789,764 |
Total liabilities | 4,699,434 | 1,789,764 |
Stockholders' equity (deficit): | ||
Class B Preferred stock, $0.001 par value, 25,000,000 shares authorized, 10,000,000 issued and outstanding | 10,000 | 10,000 |
Common stock, $0.001 par value, 100,000,000,000 shares authorized; 1,421,744,158 and 220,009,575 shares issued and outstanding, respectively | 1,421,744 | 220,009 |
Common stock to be issued | 26,531 | 26,231 |
Additional paid-in capital | 4,884,639 | 4,611,790 |
Accumulated deficit | (10,950,944) | (6,195,238) |
Total stockholders' deficit | (4,608,030) | (1,327,208) |
Total Liabilities and Stockholders' Deficit | $ 91,404 | $ 462,556 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Financing Receivable, Allowance for Credit Loss, Current | $ 46,987 | $ 0 |
Debt Instrument, Unamortized Discount, Current | $ 256,653 | $ 424,889 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 100,000,000,000 | 100,000,000,000 |
Common Stock, Shares, Issued | 1,421,744,158 | 220,009,575 |
Common Stock, Shares, Outstanding | 1,421,744,158 | 220,009,575 |
Series B Preferred Stock [Member] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Preferred Stock, Shares Outstanding | 10,000,000 | 10,000,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income Statement [Abstract] | ||
Revenue | $ 114,596 | $ 25,871 |
Cost of revenue | 26,897 | 2,792 |
Gross margin | 87,699 | 23,079 |
Operating Expenses: | ||
General & administrative expenses | 299,117 | 152,315 |
Advertising and marketing | 31,405 | 111,527 |
Compensation expense | 475,110 | 319,857 |
Professional fees | 208,725 | 270,318 |
Stock based compensation | 0 | 1,068,731 |
Total operating expenses | 1,014,357 | 1,922,748 |
Loss from operations | (926,658) | (1,899,669) |
Other income (expense): | ||
Interest revenue | 737 | |
Interest expense | (234,219) | (150,351) |
Loss on issuance of convertible debt | (165,729) | (1,165,877) |
Loss on conversion of debt | (212,590) | |
Change in fair value of derivatives | (1,383,120) | 967,422 |
Debt discount amortization | (1,389,565) | (377,426) |
Early payment penalty | (12,150) | (41,057) |
Loss on disposal of assets | (86,412) | (10,750) |
Impairment expense | 0 | (22,800) |
Total other expense | (3,829,048) | (800,839) |
Loss before income taxes | (4,755,706) | (2,700,508) |
Provision for income taxes | 0 | 0 |
Net Loss | $ (4,755,706) | $ (2,700,508) |
Net loss per common share, basic & diluted | $ (0.01) | $ (0.01) |
Weighted common shares outstanding, basic & diluted | 770,884,033 | 286,360,095 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-in Capital [Member] | Common Stock To Be Issued [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jun. 30, 2021 | $ 281,000 | $ 10,000 | $ 2,921,000 | $ (3,494,730) | $ (282,730) | |
Shares, Outstanding, Beginning Balance at Jun. 30, 2021 | 281,000,000 | 10,000,000 | ||||
Shares issued for cash | $ 5,000 | 31,005 | 36,005 | |||
Stock Issued During Period, Shares, New Issues | 5,000,000 | |||||
Shares granted for services | $ 1,201 | 34,837 | 36,038 | |||
Stock Issued During Period, Shares, Issued for Services | 1,201,262 | |||||
Shares granted for financing costs | $ 5,700 | 205,050 | 3,431 | 214,181 | ||
Shares issued for conversion of debt | 26,608 | 332,244 | 358,852 | |||
[custom:SharesGrantedForFinancingCostsShares] | ||||||
Fair value with debt issuance of warrants granted | 109,561 | 109,561 | ||||
Shares cancelled – related party | $ (100,000) | 100,000 | ||||
[custom:SharesCancelledRelatedPartyShares] | (100,000,000) | |||||
Debt Conversion, Converted Instrument, Shares Issued | 26,608,313 | |||||
Net loss | (2,700,508) | (2,700,508) | ||||
Options exercised – related party | 500 | 23,543 | 24,043 | |||
[custom:OptionsExercisedRelatedPartyShares] | ||||||
Fair value of options granted for compensation – related party | 854,550 | 854,550 | ||||
Ending balance, value at Jun. 30, 2022 | 220,009 | 10,000 | 4,611,790 | 26,231 | (6,195,238) | (1,327,208) |
[custom:OptionsExercisedRelatedPartyShares] | ||||||
Shares issued for acquisition | 22,800 | 22,800 | ||||
Shares, Outstanding, Ending Balance at Jun. 30, 2022 | 220,009,575 | 10,000,000 | ||||
Shares issues – related party | $ 100,000 | (100,000) | ||||
[custom:SharesGrantedForFinancingCostsShares] | ||||||
Shares issues – commitment fee | 300 | 300 | ||||
Fair value with debt issuance of warrants granted | 423,510 | 423,510 | ||||
Debt Conversion, Converted Instrument, Shares Issued | 1,101,734,583 | |||||
Net loss | (4,755,706) | (4,755,706) | ||||
[custom:OptionsExercisedRelatedPartyShares] | ||||||
Shares issued for conversion of debt | 1,101,735 | (50,661) | 1,051,074 | |||
Fair value of options granted for compensation – related party | ||||||
Ending balance, value at Jun. 30, 2023 | $ 1,421,744 | $ 10,000 | $ 4,884,639 | $ 26,531 | $ (10,950,944) | $ (4,608,030) |
Shares, Outstanding, Ending Balance at Jun. 30, 2023 | 1,421,744,158 | 10,000,000 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Deficit (Parenthetical) - Common Stock [Member] - shares | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
[custom:SharesGrantedFinancingCostsShares] | 5,700,000 | |
[custom:SharesIssuedRelatedParty] | 100,000,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net Loss | $ (4,755,706) | $ (2,700,508) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Depreciation and amortization | 60,091 | 36,021 |
Debt discount amortization | 1,389,564 | 377,426 |
Loss on issuance of convertible debt | 165,729 | 1,165,877 |
Change in fair value of derivatives | 1,383,120 | (967,422) |
Loss on conversion of debt | 212,590 | |
Penalty expense for convertible debt | 346,000 | |
Common stock issued for services | 300 | 250,219 |
[custom:OptionsExercisedRelatedPartyShares] | ||
Fair value of options granted for compensation – related party | 854,550 | |
Fair value of warrants granted with debt issuance | 110,361 | |
Bad debt expense | 46,987 | |
Loss on disposal of assets | 86,412 | 10,750 |
Loss on disposition of assets and liabilities | 22,800 | |
Prepaids | 5,130 | (5,130) |
Other assets | 5,913 | (5,913) |
Accounts payable and accrued liabilities | 60,819 | 11,218 |
Accrued interest | 229,516 | 127,606 |
Net cash used by operating activities | (763,535) | (712,145) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (82,309) | (75,612) |
Loans receivable | (46,250) | |
Net cash used by investing activities | (128,559) | (75,612) |
Cash flows from financing activities: | ||
Advances from related party | 27,088 | |
Repayment of related party loans | (100) | (62,516) |
Proceeds from convertible debt | 876,280 | 1,410,374 |
Repayment of convertible debt | (280,000) | (365,000) |
Proceeds from sale of common stock | 0 | 36,005 |
Proceeds from the exercise of options | 0 | 24,043 |
Net cash provided by financing activities | 596,180 | 1,069,994 |
Net change in cash | (295,914) | 282,237 |
Cash, beginning of year | 295,914 | 13,677 |
Cash, end of year | 295,914 | |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 0 | 0 |
Cash paid for taxes | 0 | 0 |
Supplemental non-cash disclosure: | ||
Common stock issued for conversion of debt | $ 461,050 | $ 340,691 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 12 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | NOTE 1 - NATURE OF OPERATIONS Forza Innovations Inc. (the “Company”) was incorporated on December 9, 2014, under the laws of the State of Florida. The Company has acquired the ownership and rights to certain late developmental stage products, including the J4 Sport, J4 X and J4 Fitbelt. These products are wearable back compression devices, used to relax, warmup, loosen, or relax stiff & sore muscles. The therapeutic application of heat causes a change in temperature of the soft tissues which decreases joint stiffness and relieves inflammation. On March 1, 2022, the Company entered into a Share Exchange Agreement (the “Agreement”) with Sustainable Origins Inc. (“Sustainable”), whereby the Company acquired 100% of the shares of Sustainable in exchange for 600,000 17,000 0.038 22,800 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates. Concentrations of Credit Risk We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash.` Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no Principles of Consolidation The accompanying consolidated financial statements for the years ended June 30, 2023 and 2022, include the accounts of the Company and its wholly owned subsidiary, Sustainable Origins. All material inter-company transactions have been eliminated in consolidation. Property, Plant and Equipment Property and equipment are carried at the lower of cost or net realizable value. Major betterments that extend the useful lives of assets are also capitalized. Normal maintenance and repairs are charged to expense as incurred. When assets are sold or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in operations. Derivative Financial Instruments The Company evaluates its convertible notes to determine if such instruments have derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a weighted-average Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable amates the fair value of such instruments as the notes bear interest rates that are consistent with current market rates. The following table classifies the Company’s asset measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2023 and 2022: Schedule of fair value hierarchy June 30, 2023 Description Level 1 Level 2 Level 3 Derivative $ — $ — $ 2,475,446 Total $ — $ — $ 2,475,446 June 30, 2022 Derivative $ — $ — $ 662,982 Total $ — $ — $ 662,982 Income Taxes Income taxes are provided for the tax effects of the transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to tax net operating loss carryforwards. The deferred tax assets and liabilities represent the future tax return consequences of these differences, which will either be taxable or deductible when assets and liabilities are recovered or settled, as well as operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is established against deferred tax assets when in the judgment of management, it is more likely than not that such deferred tax assets will not become available. Because the judgment about the level of future taxable income is dependent to a great extent on matters that may, at least in part, be beyond the Company’s control, it is at least reasonably possible that management’s judgment about the need for a valuation allowance for deferred taxes could change in the near term. Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for “unrecognized tax benefits” is recorded for any tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. As of June 30, 2023, and 2022, no liability for unrecognized tax benefits was required to be reported. Revenue Recognition The Company recognizes revenue under ASC 606, “Revenue from Contracts with Customers” (“ASC 606”). The Company determines revenue recognition through the following steps: • Identification of a contract with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when or as the performance obligations are satisfied. Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Shipping and handling activities associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment activity and recognized as revenue at the point in time at which control of the goods transfers to the customer. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less. Basic and Diluted Loss Per Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. As of June 30, 2023, there are warrants to purchase up to 951,950,000 1,000,000 14,000,000,000 1,90,000 1,000,000 106,000,000 Recent Accounting Pronouncements The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 - GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As of June 30, 2023, the Company has limited revenue and an accumulated deficit of $ 10,950,944 While the Company believes in the viability of its strategy to produce sales volume and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenues. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. |
LOANS RECEIVABLE
LOANS RECEIVABLE | 12 Months Ended |
Jun. 30, 2023 | |
Loans Receivable | |
LOANS RECEIVABLE | NOTE 4 – LOANS RECEIVABLE On October 4, 2022, the Company entered into a Secured Loan Agreement with Team Moving Forward Recovery Group LLC (“Team”), whereby the Company loaned $ 15,000 3 On January 23, 2023, the Company entered into a Secured Loan Agreement with Denver Dumpster LLC (“Denver”), whereby the Company had loaned $ 31,250 3 |
MACHINERY AND EQUIPMENT
MACHINERY AND EQUIPMENT | 12 Months Ended |
Jun. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
MACHINERY AND EQUIPMENT | NOTE 5 – MACHINERY AND EQUIPMENT Long lived assets, including property and equipment to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Impairment losses are recognized if expected future cash flows of the related assets are less than their carrying values. Measurement of an impairment loss is based on the fair value of the asset. Long-lived assets and certain identifiable intangibles to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. Property and Equipment are first recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of assets between three and five years. Leasehold improvements are being depreciated over ten years, and the building over twenty years. Maintenance and repair expenses, as incurred, are charged to expense. Betterments and renewals are capitalized in plant and equipment accounts. Cost and accumulated depreciation applicable to items replaced or retired are eliminated from the related accounts with any gain or loss on the disposition included as income. During the year ended June 30, 2023, the Company wrote of certain property and equipment no longer in use, resulting in a loss on disposal of $ 86,412 Property and equipment stated at cost, less accumulated depreciation for continuing operations consisted of the following: Property, Plant & Equipment June 30, 2023 June 30, 2022 Machinery and Equipment $ 88,387 $ 150,483 Office Equipment 3,097 3,097 Vehicles 38,122 41,720 Less: accumulated depreciation (38,202 ) (39,701 ) Property and equipment, net $ 91,404 $ 155,599 Depreciation expense Depreciation expense for the years ended June 30, 2023 and 2022 was $ 60,091 and $ 36,021 , respectively. |
CONVERTIBLE NOTES PAYABLE
CONVERTIBLE NOTES PAYABLE | 12 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTES PAYABLE | NOTE 6 – CONVERTIBLE NOTES PAYABLE During the year ended June 30, 2023, the Company issued, paid and or converted the following new convertible promissory notes. Schedule of convertible promissory notes Note Holder Date Maturity Date Interest Rate Balance Additions Conversions Balance Fast Capital LLC (1) 10/26/2021 10/26/2022 10 % $ 30,000 $ — $ (30,000 ) $ — ONE44 Capital LLC (3) 1/13/2022 1/13/2023 10 % $ 160,000 $ — $ (37,600 ) $ 122,400 Mast Hill Fund, L.P. (4) 1/20/2022 1/20/2023 12 % $ 350,000 $ 250,000 $ (297,688 ) $ 302,312 Sixth Street Lending LLC (5) 2/1/2022 2/1/2023 10 % $ 80,000 $ — $ (80,000 ) $ — ONE44 Capital LLC (3) 3/22/2022 3/22/2023 10 % $ 120,000 $ — $ — $ 120,000 Sixth Street Lending LLC (5) 4/13/2022 4/13/2023 10 % $ 55,000 $ — $ (55,000 ) $ — 1800 Diagonal Lending LLC (5) 5/23/2022 5/23/2023 10 % $ 55,000 $ — $ (55,000 ) $ — Coventry Enterprises, LLC (2) 6/3/2022 6/3/2023 10 % $ 480,000 $ 96,000 $ — $ 576,000 1800 Diagonal Lending LLC (5) 7/26/2022 7/26/2023 10 % $ — $ 59,250 $ (10,550 ) $ 48,700 Mast Hill Fund, L.P. (6) 9/19/2022 9/19/2023 12 % $ — $ 290,000 $ — $ 290,000 1800 Diagonal Lending LLC (5) 11/11/2022 11/11/2023 10 % $ — $ 44,250 $ — $ 44,250 Mast Hill Fund, L.P. (7) 12/16/2022 12/16/2022 12 % $ — $ 233,000 $ (100,000 ) $ 133,000 Mast Hill Fund, L.P. (8) 1/13/2023 12/16/2022 12 % $ — $ 347,060 $ — $ 347,060 Coventry Enterprises, LLC (9) 5/12/2023 5/12/2024 10 % $ — $ 60,000 $ — $ 60,000 Total $ 1,330,000 $ 1,379,560 $ (665,838 ) $ 2,043,722 Less debt discount $ (424,889 ) $ (256,653 ) Convertible notes payable, net $ 905,111 $ 1,787,069 Conversion Terms (1) 61% of the lowest trading price for 15 days, including conversion date. (2) Convertible only upon an event of default. 90% of the lowest trading price for 10 days prior to conversion date. (3) 60% of the lowest trading price for 20 days, including conversion date. (4) Convertible only upon an event of default. Conversion would then be $0.10. (5) 61% of the lowest trading price for 15 days prior to conversion date. (6) Convertible at $0.0015 (7) Convertible at $0.0007 (8) Convertible at $0.0003 (9) Monthly payments of $9,428.57. Convertible only upon an event of default. Conversion would then be 90% of the lowest trade during the 30 days prior to conversion. Total accrued interest on the above convertible notes as of June 30, 2023, is $ 180,685 A summary of the activity of the derivative liability for the notes above is as follows: Schedule of derivative liability Balance at June 30, 2021 — Increase to derivative due to new issuances 1,648,566 Decrease to derivative due to conversion/payments (18,162 ) Derivative gain due to mark to market adjustment (967,422 ) Balance at June 30, 2022 $ 662,982 Increase to derivative due to new issuances 806,026 Decrease to derivative due to conversions (376,682 ) Derivative loss due to mark to market adjustment 1,383,120 Balance at June 30, 2023 $ 2,475,446 A summary of quantitative information about significant unobservable inputs (Level 3 inputs) used in measuring the Company’s derivative liability that are categorized within Level 3 of the fair value hierarchy as of June 30, 2022, is as follows: Schedule of fair value hierarchy Inputs June 30, 2023 Initial Stock price $ 0.0002 $ 0.0014 0.0086 Conversion price $ .0001 $ 0.0006 0.0049 Volatility (annual) 510.66 521.39 210.52 237.49 Risk-free rate 5.43 % 2.51 4.59 Dividend rate — — Years to maturity .25 .37 1 |
NOTE PAYABLE
NOTE PAYABLE | 12 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
NOTE PAYABLE | NOTE 7 - NOTE PAYABLE On November 5, 2017, to fund its working capital requirements the Company obtained a Special Line of Credit (“LOC”) also recognized as a Blanket Secured Promissory Note for the total draw down amount of up to $ 500,000 LOC bears interest at 5 100,000 10,000,000 22,729 22,729 20,940 19,796 |
COMMON STOCK
COMMON STOCK | 12 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
COMMON STOCK | NOTE 8 – COMMON STOCK On October 20, 2021, the Company issued Tangiers Global, LLC (“Tangiers”) 25,000 shares of its Common Stock as a commitment fee for a financing agreement that the Company will no longer be utilizng. The shares were valued at $ 0.1373 , the closing price on the date of grant for total non-cash expense of $ 3,431 . As of June 30, 2022, the shares have not yet been issued by the transfer agent and are disclosed as common stock to be issued. During the year ended June 30, 2022, Tangiers converted $ 205,691 11,608,313 During the year ended June 30, 2022, Front Row Seating Inc. converted $ 100,000 10,000,000 On January 5, 2022, the Company entered into a securities purchase agreement with Coventry Enterprises, LLC (“Coventry”). Pursuant to the terms of the agreement, the Company issued 200,000 0.085 17,000 On January 20, 2022, the Company entered into a securities purchase agreement with Mast Hill Fund, L.P., (“Mast Hill”). Pursuant to the terms of the agreement, the Company issued 2,500,000 0.0589 147,250 During the year ended June 30, 2022, Mast Hill purchased 5,000,000 36,005 During the year ended June 30, 2022, Fast Capital. LLC converted $ 35,000 5,000,000 The Company entered into a Marketing Services Agreement dated as of April 14, 2022 (the “Agreement”) with North Equities Corp. (“North Equities”) to provide marketing services to the Company. Pursuant to the terms of the Agreement, the Company issued 1,201,262 shares of common stock to North Equities. The shares were valued at $ 0.03 , the closing stock price on the date of grant, for total non-cash expense of $ 36,038 . During Q1 FY 2023, Fast Capital LLC converted $ 30,000 4,550 11,328,868 During the first quarter, One44 Capital LLC converted $ 15,000 744 5,247,947 During Q1 FY 2023, 1800 Diagonal Lending converted $ 80,000 4,626 34,739,138 During Q1 FY 2023, Mast Hill Fund, L.P converted $ 2,040 42,200 23,400,000 20,840 During Q2 FY 2023, 1800 Diagonal Lending converted $ 110,000 5,500 186,262,331 During Q2 FY 2023, Mast Hill Fund, L.P converted $ 121,607 210,500,000 113,263 During Q3 FY 2023, 1800 Diagonal Lending converted $ 10,550 87,916,334 During Q3 FY 2023, Mast Hill Fund, L.P converted $ 24,041 3,937 182,700,000 32,718 During Q3 FY 2023, One44 Capital LLC converted $ 19,300 2,193 179,112,333 During Q4 FY 2023, One44 Capital LLC converted $ 3,300 411 61,856,167 During Q4 FY 2023, Mast Hill Fund, L.P converted $ 15,600 130,000,000 3,590 |
PREFERRED STOCK
PREFERRED STOCK | 12 Months Ended |
Jun. 30, 2023 | |
Equity [Abstract] | |
PREFERRED STOCK | NOTE 9 – PREFERRED STOCK On September 7, 2022, the Company filed with the Secretary of State of the State of Wyoming, an Articles of Amendment (the “Amendment”) designating the terms, preferences and rights of the 25,000,000 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 10 - RELATED PARTY TRANSACTIONS On August 23, 2021, Mr. Forzani exercised 400,000 20,000 On October 26, 2021, Geoff Stanbury exercised 100,000 4,043 On June 8, 2022, Mr 100,000,000 |
STOCK OPTIONS
STOCK OPTIONS | 12 Months Ended |
Jun. 30, 2023 | |
Stock Options | |
STOCK OPTIONS | NOTE 11– STOCK OPTIONS On August 3, 2021, the Company granted 1,000,000 options to Johnny Forzani, CEO, 250,000 options to Geoff Stanbury, director, and 250,000 options to Tom Forzani, Director. The options were issued pursuant the Company’s 2021 Equity Award Plan. The options are exercisable at $ 0.05 , are immediately vested and expire in two years. On July 25, 2022, the Company reissued the 100,000,000 shares of common stock that were previously cancelled by Mr. Forzani. There was no impact to the Company’s Statement of Operations for either the cancellation or the re-issuance of the shares. Mr. Forzani has advanced the Company funds for general operating expenses, the advances are non-interest bearing and due on demand. As of 19,306 $ 19,406 A summary of the status of the Company’s outstanding stock options and changes during the period is presented below: Schedule of Stock Options Outstanding Stock Options Options Weighted Average Aggregate Options outstanding at June 30, 2021 — $ — — Granted 1,500,000 0.05 — Exercised (500,000 ) $ — — Expired — $ — — Options outstanding at June 30, 2022 1,000,000 $ 0.05 — Granted — $ — — Exercised — $ — — Expired — $ — — Options outstanding at June 30, 2023 1,000,000 $ 0.05 — Options exercisable at June 30, 2023 1,000,000 $ 0.05 $ — Schedule of range of exercise prices Range of Exercise Prices Number Outstanding Weighted Average Weighted Average $ 0.05 1,000,000 .41 years $ 0.05 |
WARRANTS
WARRANTS | 12 Months Ended |
Jun. 30, 2023 | |
Guarantees and Product Warranties [Abstract] | |
WARRANTS | NOTE 12 – WARRANTS On September 23, 2022, the Company, closed a Securities Purchase Agreement (the “Purchase Agreement”) with Mast Hill Fund, L.P., a Delaware limited partnership (“Mast Hill”), dated as of September 19, 2022, pursuant to which the Company issued Mast Hill a convertible promissory note in the principal amount of $ 290,000 (the “Note”), a five-year warrant to purchase up to 100,000,000 shares of common stock at a price of $ 0.003 per share (the “First Warrant”) and a warrant to purchase up to 100,000,000 shares of common stock at a price of $ 0.003 per share (the “Second Warrant”), which warrants are only exercisable upon an “Event of Default” as defined in the Note. Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $ 188,675 , accounted for in additional paid in capital. On December 16, 2022, the Company, closed a Securities Purchase Agreement (the “Purchase Agreement”) with Mast Hill, pursuant to which the Company issued Mast Hill a convertible promissory note in the principal amount of $ 233,000 (the “Note”), a five-year warrant to purchase up to 155,000,000 shares of common stock at a price of $ 0.0015 per share (the “First Warrant”) and a warrant to purchase up to 100,000,000 shares of common stock at a price of $ 0.003 per share (the “Second Warrant”), which warrants are only exercisable upon an “Event of Default” as defined in the Note. Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $ 108,769 On January 13, 2023, the Company, closed a Securities Purchase Agreement (the “Purchase Agreement”) with Mast Hill, pursuant to which the Company issued Mast Hill a convertible promissory note in the principal amount of $ 347,000 347,000,000 0.001 148,000,000 0.003 Using the fair value calculation, the relative fair value between the debt issued and the warrants was calculated to determine the warrants recorded equity amount of $ 126,066 A summary of the status of the Company’s outstanding stock options and changes during the period is presented below: Schedule of warrant outstanding Warrants Warrants Weighted Average Aggregate Warrants outstanding at June 30, 2021 — $ — — Granted 1,950,000 $ 0.44 — Exercised — $ — — Expired — $ — — Warrants outstanding at June 30, 2022 1,950,000 $ 0.44 — Granted 455,000,000 $ 0.004 — Exercised $ — — Expired $ — — Warrants outstanding at June 30, 2023 456,950,000 $ 0.004 — Warrants exercisable at June 30, 2023 456,950,000 $ 0.004 $ — Schedule of range of exercise prices Range of Exercise Prices Number Outstanding Weighted Average Weighted Average $ 0.0015 - 0.44 201,950,000 4.72 years $ 0.004 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Jun. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 13 – INCOME TAXES Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company has evaluated Staff Accounting Bulletin No. 118 regarding the impact of the decreased tax rates of the Tax Cuts & Jobs Act. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The U.S. federal income tax rate of 21 Net deferred tax assets consist of the following components as of June 30: Schedule of net deferred tax assets 2023 2022 Deferred Tax Assets: NOL Carryover $ 2,299,000 $ 1,301,000 Deferred tax liabilities: Less valuation allowance (2,299,000 ) $ (1,301,000 ) Net deferred tax assets $ — $ — The income tax provision differs from the amount of income tax determined by applying the U.S. federal income tax rate to pretax income from continuing operations for the period ended June 30, due to the following: Schedule of income tax provision 2023 2022 Federal income tax benefit attributable to: Current operations $ (998,000 ) $ (567,000 ) Less: Valuation allowance 998,000 567,000 Net provision for Federal income taxes $ — $ — At June 30, 2023, the Company had net operating loss carry forwards of approximately $ 2,299,000 Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal Income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Jun. 30, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 14 - SUBSEQUENT EVENTS In accordance with ASC 855-10 management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued and has determined that it has no material subsequent events to disclose in these consolidated financial statements other than the following. Subsequent to June 30, 2023, Mast Hill converted $ 36,024 300,200,000 Subsequent to June 30, 2023, 1800 Diagonal converted $ 4,795 78,600,000 Subsequent to June 30, 2023, Coventry converted $ 6,175 90,000,000 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates. |
Concentrations of Credit Risk | Concentrations of Credit Risk We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash.` |
Cash Equivalents | Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no |
Principles of Consolidation | Principles of Consolidation The accompanying consolidated financial statements for the years ended June 30, 2023 and 2022, include the accounts of the Company and its wholly owned subsidiary, Sustainable Origins. All material inter-company transactions have been eliminated in consolidation. |
Property, Plant and Equipment | Property, Plant and Equipment Property and equipment are carried at the lower of cost or net realizable value. Major betterments that extend the useful lives of assets are also capitalized. Normal maintenance and repairs are charged to expense as incurred. When assets are sold or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in operations. |
Derivative Financial Instruments | Derivative Financial Instruments The Company evaluates its convertible notes to determine if such instruments have derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a weighted-average Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable amates the fair value of such instruments as the notes bear interest rates that are consistent with current market rates. The following table classifies the Company’s asset measured at fair value on a recurring basis into the fair value hierarchy as of June 30, 2023 and 2022: Schedule of fair value hierarchy June 30, 2023 Description Level 1 Level 2 Level 3 Derivative $ — $ — $ 2,475,446 Total $ — $ — $ 2,475,446 June 30, 2022 Derivative $ — $ — $ 662,982 Total $ — $ — $ 662,982 |
Revenue Recognition | Income Taxes Income taxes are provided for the tax effects of the transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to tax net operating loss carryforwards. The deferred tax assets and liabilities represent the future tax return consequences of these differences, which will either be taxable or deductible when assets and liabilities are recovered or settled, as well as operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is established against deferred tax assets when in the judgment of management, it is more likely than not that such deferred tax assets will not become available. Because the judgment about the level of future taxable income is dependent to a great extent on matters that may, at least in part, be beyond the Company’s control, it is at least reasonably possible that management’s judgment about the need for a valuation allowance for deferred taxes could change in the near term. Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for “unrecognized tax benefits” is recorded for any tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. As of June 30, 2023, and 2022, no liability for unrecognized tax benefits was required to be reported. Revenue Recognition The Company recognizes revenue under ASC 606, “Revenue from Contracts with Customers” (“ASC 606”). The Company determines revenue recognition through the following steps: • Identification of a contract with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when or as the performance obligations are satisfied. Revenue is recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Shipping and handling activities associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment activity and recognized as revenue at the point in time at which control of the goods transfers to the customer. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between customer payment and the transfer of goods or services is expected to be one year or less. |
Basic and Diluted Loss Per Share | Basic and Diluted Loss Per Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. As of June 30, 2023, there are warrants to purchase up to 951,950,000 1,000,000 14,000,000,000 1,90,000 1,000,000 106,000,000 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Schedule of fair value hierarchy | Schedule of fair value hierarchy June 30, 2023 Description Level 1 Level 2 Level 3 Derivative $ — $ — $ 2,475,446 Total $ — $ — $ 2,475,446 June 30, 2022 Derivative $ — $ — $ 662,982 Total $ — $ — $ 662,982 |
MACHINERY AND EQUIPMENT (Tables
MACHINERY AND EQUIPMENT (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant & Equipment | Property, Plant & Equipment June 30, 2023 June 30, 2022 Machinery and Equipment $ 88,387 $ 150,483 Office Equipment 3,097 3,097 Vehicles 38,122 41,720 Less: accumulated depreciation (38,202 ) (39,701 ) Property and equipment, net $ 91,404 $ 155,599 |
CONVERTIBLE NOTES PAYABLE (Tabl
CONVERTIBLE NOTES PAYABLE (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Convertible Debt [Table Text Block] | Schedule of convertible promissory notes Note Holder Date Maturity Date Interest Rate Balance Additions Conversions Balance Fast Capital LLC (1) 10/26/2021 10/26/2022 10 % $ 30,000 $ — $ (30,000 ) $ — ONE44 Capital LLC (3) 1/13/2022 1/13/2023 10 % $ 160,000 $ — $ (37,600 ) $ 122,400 Mast Hill Fund, L.P. (4) 1/20/2022 1/20/2023 12 % $ 350,000 $ 250,000 $ (297,688 ) $ 302,312 Sixth Street Lending LLC (5) 2/1/2022 2/1/2023 10 % $ 80,000 $ — $ (80,000 ) $ — ONE44 Capital LLC (3) 3/22/2022 3/22/2023 10 % $ 120,000 $ — $ — $ 120,000 Sixth Street Lending LLC (5) 4/13/2022 4/13/2023 10 % $ 55,000 $ — $ (55,000 ) $ — 1800 Diagonal Lending LLC (5) 5/23/2022 5/23/2023 10 % $ 55,000 $ — $ (55,000 ) $ — Coventry Enterprises, LLC (2) 6/3/2022 6/3/2023 10 % $ 480,000 $ 96,000 $ — $ 576,000 1800 Diagonal Lending LLC (5) 7/26/2022 7/26/2023 10 % $ — $ 59,250 $ (10,550 ) $ 48,700 Mast Hill Fund, L.P. (6) 9/19/2022 9/19/2023 12 % $ — $ 290,000 $ — $ 290,000 1800 Diagonal Lending LLC (5) 11/11/2022 11/11/2023 10 % $ — $ 44,250 $ — $ 44,250 Mast Hill Fund, L.P. (7) 12/16/2022 12/16/2022 12 % $ — $ 233,000 $ (100,000 ) $ 133,000 Mast Hill Fund, L.P. (8) 1/13/2023 12/16/2022 12 % $ — $ 347,060 $ — $ 347,060 Coventry Enterprises, LLC (9) 5/12/2023 5/12/2024 10 % $ — $ 60,000 $ — $ 60,000 Total $ 1,330,000 $ 1,379,560 $ (665,838 ) $ 2,043,722 Less debt discount $ (424,889 ) $ (256,653 ) Convertible notes payable, net $ 905,111 $ 1,787,069 Conversion Terms (1) 61% of the lowest trading price for 15 days, including conversion date. (2) Convertible only upon an event of default. 90% of the lowest trading price for 10 days prior to conversion date. (3) 60% of the lowest trading price for 20 days, including conversion date. (4) Convertible only upon an event of default. Conversion would then be $0.10. (5) 61% of the lowest trading price for 15 days prior to conversion date. (6) Convertible at $0.0015 (7) Convertible at $0.0007 (8) Convertible at $0.0003 (9) Monthly payments of $9,428.57. Convertible only upon an event of default. Conversion would then be 90% of the lowest trade during the 30 days prior to conversion. |
Schedule of derivative liability | Schedule of derivative liability Balance at June 30, 2021 — Increase to derivative due to new issuances 1,648,566 Decrease to derivative due to conversion/payments (18,162 ) Derivative gain due to mark to market adjustment (967,422 ) Balance at June 30, 2022 $ 662,982 Increase to derivative due to new issuances 806,026 Decrease to derivative due to conversions (376,682 ) Derivative loss due to mark to market adjustment 1,383,120 Balance at June 30, 2023 $ 2,475,446 |
Schedule of fair value hierarchy | Schedule of fair value hierarchy Inputs June 30, 2023 Initial Stock price $ 0.0002 $ 0.0014 0.0086 Conversion price $ .0001 $ 0.0006 0.0049 Volatility (annual) 510.66 521.39 210.52 237.49 Risk-free rate 5.43 % 2.51 4.59 Dividend rate — — Years to maturity .25 .37 1 |
STOCK OPTIONS (Tables)
STOCK OPTIONS (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Stock Options | |
Schedule of Stock Options Outstanding | Schedule of Stock Options Outstanding Stock Options Options Weighted Average Aggregate Options outstanding at June 30, 2021 — $ — — Granted 1,500,000 0.05 — Exercised (500,000 ) $ — — Expired — $ — — Options outstanding at June 30, 2022 1,000,000 $ 0.05 — Granted — $ — — Exercised — $ — — Expired — $ — — Options outstanding at June 30, 2023 1,000,000 $ 0.05 — Options exercisable at June 30, 2023 1,000,000 $ 0.05 $ — |
Schedule of range of exercise prices | Schedule of range of exercise prices Range of Exercise Prices Number Outstanding Weighted Average Weighted Average $ 0.05 1,000,000 .41 years $ 0.05 |
WARRANTS (Tables)
WARRANTS (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Guarantees and Product Warranties [Abstract] | |
Schedule of warrant outstanding | Schedule of warrant outstanding Warrants Warrants Weighted Average Aggregate Warrants outstanding at June 30, 2021 — $ — — Granted 1,950,000 $ 0.44 — Exercised — $ — — Expired — $ — — Warrants outstanding at June 30, 2022 1,950,000 $ 0.44 — Granted 455,000,000 $ 0.004 — Exercised $ — — Expired $ — — Warrants outstanding at June 30, 2023 456,950,000 $ 0.004 — Warrants exercisable at June 30, 2023 456,950,000 $ 0.004 $ — |
Schedule of range of exercise prices | Schedule of range of exercise prices Range of Exercise Prices Number Outstanding Weighted Average Weighted Average $ 0.0015 - 0.44 201,950,000 4.72 years $ 0.004 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of net deferred tax assets | Schedule of net deferred tax assets 2023 2022 Deferred Tax Assets: NOL Carryover $ 2,299,000 $ 1,301,000 Deferred tax liabilities: Less valuation allowance (2,299,000 ) $ (1,301,000 ) Net deferred tax assets $ — $ — |
Schedule of income tax provision | Schedule of income tax provision 2023 2022 Federal income tax benefit attributable to: Current operations $ (998,000 ) $ (567,000 ) Less: Valuation allowance 998,000 567,000 Net provision for Federal income taxes $ — $ — |
NATURE OF OPERATIONS (Details N
NATURE OF OPERATIONS (Details Narrative) - USD ($) | 12 Months Ended | ||
Mar. 02, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | |
Offsetting Assets [Line Items] | |||
Number of shares issued value | $ 36,005 | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |
Common Stock, Value, Issued | $ 220,009 | $ 1,421,744 | |
Oil Industires Inc [Member] | |||
Offsetting Assets [Line Items] | |||
Common Stock, Par or Stated Value Per Share | $ 0.038 | ||
Oil Industries Inc [Member] | |||
Offsetting Assets [Line Items] | |||
Common Stock, Value, Issued | $ 22,800 | ||
Share Exchange Agrrement [Member] | |||
Offsetting Assets [Line Items] | |||
Number of shares issued | 600,000 | ||
Number of shares issued value | $ 17,000 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Defined Benefit Plan Disclosure [Line Items] | ||
Total derivative | $ 2,475,446 | $ 662,982 |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total derivative | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total derivative | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total derivative | $ 2,475,446 | $ 662,982 |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Accounting Policies [Abstract] | ||
Cash equivalents | $ 0 | $ 0 |
Unrecognized Tax Benefits | $ 0 | |
[custom:DilutibeCommonSharesAttributableToWarrants-0] | 951,950,000 | |
[custom:DilutiveCommonSharesAttributableToCallOptions-0] | 1,000,000 | 1,000,000 |
[custom:DilutibeCommonSharesAttributableToConvertibleNotesPayable-0] | 14,000,000,000 | 106,000,000 |
[custom:DilutiveCommonSharesAttributableToWarrants-0] | 190,000 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Retained Earnings (Accumulated Deficit) | $ 10,950,944 | $ 6,195,238 |
LOANS RECEIVABLE (Details Narra
LOANS RECEIVABLE (Details Narrative) - USD ($) | Jan. 24, 2023 | Oct. 05, 2022 |
Team Moving Forwward Recovery Group [Member] | ||
Short-Term Debt [Line Items] | ||
Loans Receivable with Fixed Rates of Interest | $ 15,000 | |
Short-Term Debt, Percentage Bearing Fixed Interest Rate | 300% | |
Denver Dumpster [Member] | ||
Short-Term Debt [Line Items] | ||
Loans Receivable with Fixed Rates of Interest | $ 31,250 | |
Short-Term Debt, Percentage Bearing Fixed Interest Rate | 300% |
MACHINERY AND EQUIPMENT (Detail
MACHINERY AND EQUIPMENT (Details) - USD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Property, Plant and Equipment [Line Items] | ||
Less: accumulated depreciation | $ (38,202) | $ (39,701) |
Property and equipment, net | 91,404 | 155,599 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | 88,387 | 150,483 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | 3,097 | 3,097 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | $ 38,122 | $ 41,720 |
MACHINERY AND EQUIPMENT (Deta_2
MACHINERY AND EQUIPMENT (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Property, Plant and Equipment [Abstract] | ||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ 86,412 | $ 10,750 |
Depreciation | $ 60,091 | $ 36,021 |
CONVERTIBLE NOTES PAYABLE (Deta
CONVERTIBLE NOTES PAYABLE (Details) - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Defined Benefit Plan Disclosure [Line Items] | |||
Convertible Notes Payable, Current | $ 2,043,722 | $ 1,330,000 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | (1,379,560) | ||
Conversion of Stock, Amount Issued | (665,838) | ||
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | 1,379,560 | ||
Conversion of Stock, Amount Issued | 665,838 | ||
Debt Instrument, Unamortized Discount | (256,653) | (424,889) | |
Convertible Notes Payable | $ 1,787,069 | 905,111 | |
Fast Capital L L C [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [1] | Oct. 26, 2021 | |
Debt Instrument, Maturity Date | [1] | Oct. 26, 2022 | |
Debt Instrument, Interest Rate During Period | [1] | 10% | |
Convertible Notes Payable, Current | [1] | 30,000 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [1] | ||
Conversion of Stock, Amount Issued | [1] | (30,000) | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [1] | ||
Conversion of Stock, Amount Issued | [1] | $ 30,000 | |
O N E 44 Capital L L C [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [2] | Jan. 13, 2022 | |
Debt Instrument, Maturity Date | [2] | Jan. 13, 2023 | |
Debt Instrument, Interest Rate During Period | [2] | 10% | |
Convertible Notes Payable, Current | [2] | $ 122,400 | 160,000 |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [2] | ||
Conversion of Stock, Amount Issued | [2] | (37,600) | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [2] | ||
Conversion of Stock, Amount Issued | [2] | $ 37,600 | |
Mast Hill Fund L. P [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [3] | Jan. 20, 2022 | |
Debt Instrument, Maturity Date | [3] | Jan. 20, 2023 | |
Debt Instrument, Interest Rate During Period | [3] | 12% | |
Convertible Notes Payable, Current | [3] | $ 302,312 | 350,000 |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [3] | (250,000) | |
Conversion of Stock, Amount Issued | [3] | (297,688) | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [3] | 250,000 | |
Conversion of Stock, Amount Issued | [3] | $ 297,688 | |
Sixth Street Lending L L C 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [4] | Feb. 01, 2022 | |
Debt Instrument, Maturity Date | [4] | Feb. 01, 2023 | |
Debt Instrument, Interest Rate During Period | [4] | 10% | |
Convertible Notes Payable, Current | [4] | 80,000 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | ||
Conversion of Stock, Amount Issued | [4] | (80,000) | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | ||
Conversion of Stock, Amount Issued | [4] | $ 80,000 | |
O N E 44 Capital L L C 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [2] | Mar. 22, 2022 | |
Debt Instrument, Maturity Date | [2] | Mar. 22, 2023 | |
Debt Instrument, Interest Rate During Period | [2] | 10% | |
Convertible Notes Payable, Current | [2] | $ 120,000 | 120,000 |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [2] | ||
Conversion of Stock, Amount Issued | [2] | 0 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [2] | ||
Conversion of Stock, Amount Issued | [2] | $ 0 | |
Sixth Street Lending L L C 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [4] | Apr. 13, 2022 | |
Debt Instrument, Maturity Date | [4] | Apr. 13, 2023 | |
Debt Instrument, Interest Rate During Period | [4] | 10% | |
Convertible Notes Payable, Current | [4] | 55,000 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | ||
Conversion of Stock, Amount Issued | [4] | (55,000) | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | ||
Conversion of Stock, Amount Issued | [4] | $ 55,000 | |
N 1800 Diagonal Lending L L C [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [4] | May 23, 2022 | |
Debt Instrument, Maturity Date | [4] | May 23, 2023 | |
Debt Instrument, Interest Rate During Period | [4] | 10% | |
Convertible Notes Payable, Current | [4] | 55,000 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | ||
Conversion of Stock, Amount Issued | [4] | (55,000) | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | ||
Conversion of Stock, Amount Issued | [4] | $ 55,000 | |
Coventry Enterprises L L C 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [5] | Jun. 03, 2022 | |
Debt Instrument, Maturity Date | [5] | Jun. 03, 2023 | |
Debt Instrument, Interest Rate During Period | [3],[5] | 10% | |
Convertible Notes Payable, Current | [5] | $ 576,000 | 480,000 |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [5] | (96,000) | |
Conversion of Stock, Amount Issued | [5] | 0 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [5] | 96,000 | |
Conversion of Stock, Amount Issued | [5] | $ 0 | |
N 1800 Diagonal Lending L L C 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [4] | Jul. 26, 2022 | |
Debt Instrument, Maturity Date | [4] | Jul. 26, 2023 | |
Debt Instrument, Interest Rate During Period | [4] | 10% | |
Convertible Notes Payable, Current | [4] | $ 48,700 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | (59,250) | |
Conversion of Stock, Amount Issued | [4] | (10,550) | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | 59,250 | |
Conversion of Stock, Amount Issued | [4] | $ 10,550 | |
Mast Hill Fund L. P 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [6] | Sep. 19, 2022 | |
Debt Instrument, Maturity Date | [6] | Sep. 19, 2023 | |
Debt Instrument, Interest Rate During Period | [6] | 12% | |
Convertible Notes Payable, Current | [6] | $ 290,000 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [6] | (290,000) | |
Conversion of Stock, Amount Issued | [6] | 0 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [6] | 290,000 | |
Conversion of Stock, Amount Issued | [6] | $ 0 | |
N 1800 Diagonal Lending L L C 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [4] | Nov. 11, 2022 | |
Debt Instrument, Maturity Date | [4] | Nov. 11, 2023 | |
Debt Instrument, Interest Rate During Period | [4] | 10% | |
Convertible Notes Payable, Current | [4] | $ 44,250 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | (44,250) | |
Conversion of Stock, Amount Issued | [4] | 0 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [4] | 44,250 | |
Conversion of Stock, Amount Issued | [4] | $ 0 | |
Mast Hill Fund L. P 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [7] | Dec. 16, 2022 | |
Debt Instrument, Maturity Date | [7] | Dec. 16, 2022 | |
Debt Instrument, Interest Rate During Period | [7] | 12% | |
Convertible Notes Payable, Current | [7] | $ 133,000 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [7] | (233,000) | |
Conversion of Stock, Amount Issued | [7] | (100,000) | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [7] | 233,000 | |
Conversion of Stock, Amount Issued | [7] | $ 100,000 | |
Mast Hill Fund L. P 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [8] | Jan. 13, 2023 | |
Debt Instrument, Maturity Date | [8] | Dec. 16, 2022 | |
Debt Instrument, Interest Rate During Period | [8] | 12% | |
Convertible Notes Payable, Current | [8] | $ 347,060 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [8] | (347,060) | |
Conversion of Stock, Amount Issued | [8] | 0 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [8] | 347,060 | |
Conversion of Stock, Amount Issued | [8] | $ 0 | |
Coventry Enterprises L L C 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
[custom:ConvertibleIssuanceOfDate] | [9] | May 12, 2023 | |
Debt Instrument, Maturity Date | [9] | May 12, 2024 | |
Convertible Notes Payable, Current | [9] | $ 60,000 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [9] | (60,000) | |
Conversion of Stock, Amount Issued | [9] | 0 | |
[custom:IncreaseInConvertibleNotesPayableCurrent-0] | [9] | 60,000 | |
Conversion of Stock, Amount Issued | [9] | $ 0 | |
[1]61% of the lowest trading price for 15 days, including conversion date.[2] 60% of the lowest trading price for 20 days, including conversion date. Convertible only upon an event of default. Conversion would then be $0.10. 61% of the lowest trading price for 15 days prior to conversion date. Convertible only upon an event of default. 90% of the lowest trading price for 10 days prior to conversion date. Convertible at $0.0015 Convertible at $0.0007 Convertible at $0.0003 Monthly payments of $9,428.57. Convertible only upon an event of default. Conversion would then be 90% of the lowest trade during the 30 days prior to conversion. |
CONVERTIBLE NOTES PAYABLE (De_2
CONVERTIBLE NOTES PAYABLE (Details 1) - USD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Debt Disclosure [Abstract] | ||
Derivative liability | $ 662,982 | $ 0 |
Increase to derivative due to new issuances | 806,026 | 1,648,566 |
Decrease to derivative due to conversion/payments | (376,682) | (18,162) |
Derivative gain due to mark to market adjustment | 1,383,120 | (967,422) |
Derivative Liability | $ 2,475,446 | $ 662,982 |
CONVERTIBLE NOTES PAYABLE (De_3
CONVERTIBLE NOTES PAYABLE (Details 2) | 12 Months Ended |
Jun. 30, 2023 $ / shares | |
Debt Instrument [Line Items] | |
Stock price | $ 0.0002 |
Conversion price | $ 0.0001 |
Volatility Percentage | 510.66% |
Volatility Percentage | 521.39% |
Risk-free rate | 5.43% |
Dividend rate | 0% |
Minimum [Member] | |
Debt Instrument [Line Items] | |
Years to maturity | 3 months |
Maximum [Member] | |
Debt Instrument [Line Items] | |
Years to maturity | 4 months 13 days |
Initial Valuation [Member] | |
Debt Instrument [Line Items] | |
Volatility Percentage | 210.52% |
Volatility Percentage | 237.49% |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 2.51% |
Risk-free rate | 4.59% |
Dividend rate | 0% |
Years to maturity | 1 year |
Initial Valuation [Member] | Minimum [Member] | |
Debt Instrument [Line Items] | |
Stock price | $ 0.0014 |
Conversion price | 0.0006 |
Initial Valuation [Member] | Maximum [Member] | |
Debt Instrument [Line Items] | |
Stock price | 0.0086 |
Conversion price | $ 0.0049 |
CONVERTIBLE NOTES PAYABLE (De_4
CONVERTIBLE NOTES PAYABLE (Details Narrative) | Jun. 30, 2023 USD ($) |
Debt Disclosure [Abstract] | |
Accrued Liabilities, Current | $ 180,685 |
NOTE PAYABLE (Details Narrative
NOTE PAYABLE (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Nov. 05, 2018 | Sep. 28, 2022 | Jun. 30, 2022 | Jun. 30, 2023 | |
Line of Credit Facility [Line Items] | ||||
Debt conversion amount converted | $ 100,000 | $ 358,852 | ||
Debt Conversion, Converted Instrument, Shares Issued | 10,000,000 | |||
Loan Payable | 22,729 | $ 22,729 | ||
Accrued Interest | 129,564 | 284,092 | ||
Line of Credit [Member] | Twiga Capital Partners [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Line of Credit maximum limit | $ 500,000 | |||
Interest rate | 5% | |||
Loan Payable | 22,729 | 22,729 | ||
Accrued Interest | $ 19,796 | $ 20,940 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 7 Months Ended | 12 Months Ended | ||||||
Apr. 14, 2023 | Jan. 05, 2023 | Jan. 20, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jan. 16, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | |
Line of Credit Facility, Commitment Fee Amount | $ 25,000 | |||||||||
[custom:SharesValuedAtClosingPrice] | $ 0.1373 | |||||||||
Noncash Contribution Expense | $ 3,431 | |||||||||
Shares issued for conversion of debt | $ 205,691 | |||||||||
Shares Issued | 11,608,313 | |||||||||
Stock price | $ 0.0002 | $ 0.0002 | ||||||||
Number of shares issued, value | $ 36,005 | |||||||||
[custom:ConversionGainsAndLossesOnDebt] | $ 3,590 | $ 32,718 | $ 113,263 | $ 20,840 | ||||||
Mast Hill Fund L P [Member] | ||||||||||
Number of shares purchased | 5,000,000 | |||||||||
Number of shares purchased, value | $ 36,005 | |||||||||
Fast Capital L L C [Member] | ||||||||||
Number of shares converted, value | $ 35,000 | |||||||||
Number of shares converted | 5,000,000 | |||||||||
Fast Capital L L C 1 [Member] | ||||||||||
Shares issued for conversion of debt | 30,000 | |||||||||
[custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesInterest] | $ 4,550 | |||||||||
Fast Capital 1 [Member] | ||||||||||
Shares Issued | 11,328,868 | |||||||||
One 44 Capital 1 [Member] | ||||||||||
Shares issued for conversion of debt | $ 3,300 | $ 19,300 | $ 15,000 | |||||||
Shares Issued | 61,856,167 | 179,112,333 | 5,247,947 | |||||||
[custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesInterest] | $ 411 | $ 2,193 | $ 744 | |||||||
Diagonal 1800 Lending 1 [Member] | ||||||||||
Shares issued for conversion of debt | $ 10,550 | $ 110,000 | $ 80,000 | $ 4,795 | ||||||
Shares Issued | 87,916,334 | 186,262,331 | 34,739,138 | 78,600,000 | ||||||
[custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesInterest] | $ 5,500 | $ 4,626 | ||||||||
Mast Hill Fund 1 [Member] | ||||||||||
Shares issued for conversion of debt | $ 15,600 | $ 24,041 | $ 121,607 | $ 2,040 | ||||||
Shares Issued | 130,000,000 | 182,700,000 | 210,500,000 | 23,400,000 | 300,200,000 | |||||
[custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesInterest] | $ 3,937 | $ 42,200 | $ 36,024 | |||||||
Securities Purchase Agreement [Member] | ||||||||||
Number of shares issued | 200,000 | |||||||||
Stock price | $ 0.085 | |||||||||
Number of shares issued, value | $ 17,000 | |||||||||
Securities Purchase Agreement [Member] | Mast Hill Fund L P [Member] | ||||||||||
Number of shares issued | 2,500,000 | |||||||||
Stock price | $ 0.0589 | |||||||||
Number of shares issued, value | $ 147,250 | |||||||||
Front Row Seating Inc [Member] | ||||||||||
Shares issued for conversion of debt | $ 100,000 | |||||||||
Shares Issued | 10,000,000 | |||||||||
North Equities Corp [Member] | ||||||||||
Noncash Contribution Expense | $ 36,038 | |||||||||
Number of shares issued | 1,201,262 | |||||||||
Stock price | $ 0.03 |
PREFERRED STOCK (Details Narrat
PREFERRED STOCK (Details Narrative) - shares | Jun. 30, 2023 | Jun. 30, 2022 |
Series B Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Oct. 26, 2022 | Aug. 23, 2022 | Jul. 25, 2022 | Jun. 30, 2023 | |
Related Party Transaction [Line Items] | ||||
Option Exercised, Shares | 400,000 | |||
Option Exercised | $ 4,043 | $ 20,000 | ||
Option Exercised, Shares | 100,000 | 500,000 | ||
Forzani [Member] | Acquisition Agreement [Member] | ||||
Related Party Transaction [Line Items] | ||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 100,000,000 |
STOCK OPTIONS (Details)
STOCK OPTIONS (Details) - $ / shares | 1 Months Ended | 12 Months Ended | ||
Oct. 26, 2022 | Aug. 03, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Stock Options | ||||
Outstanding options at ending | 1,000,000 | 1,000,000 | 0 | |
Weighted average exercise price outstanding, beginning | $ 0 | $ 0 | ||
Option granted | 1,500,000 | |||
Granted | $ 0.05 | |||
Option exercised | (100,000) | (500,000) | ||
Exercised | $ 0 | |||
Option expired | 0 | |||
Expired | $ 0 | |||
Weighted average exercise price outstanding, ending | $ 0.05 | $ 0 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance | 1,000,000 | 1,000,000 | ||
Option exercisable | 1,000,000 | |||
Exercisable at end of period | $ 0.05 | $ 0.05 |
STOCK OPTIONS (Details 1)
STOCK OPTIONS (Details 1) - $ / shares | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Outstanding options | 1,000,000 | 1,000,000 | 0 |
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term | 4 years 8 months 19 days | ||
Weighted average exercise price | $ 0.05 | $ 0 | |
Equity Option [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Share-Based Payment Arrangement, Option, Exercise Price Range, Shares Outstanding | 0.05 | ||
Outstanding options | 1,000,000 | ||
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term | 4 months 28 days | ||
Weighted average exercise price | $ 0.05 |
STOCK OPTIONS (Details Narrativ
STOCK OPTIONS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |
Aug. 03, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 1,500,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.05 | $ 0.05 | |
[custom:DueToRelatedParty-0] | $ 19,306 | $ 19,406 | |
Johnny Forzani [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 1,000,000 | ||
Geoff Stanbury [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 250,000 | ||
Tom Forzani [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 250,000 |
WARRANTS (Details)
WARRANTS (Details) - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Aug. 03, 2022 | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.05 | ||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | 0 | ||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $ 0 | ||
Class of Warrant or Right, Outstanding | 201,950,000 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.004 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 1,000,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.05 | $ 0.05 | |
Warrant [Member] | |||
Class of Warrant or Right, Outstanding | 1,950,000 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.44 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted | 455,000,000 | 1,950,000 | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.004 | $ 0.44 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | |||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | |||
Class of Warrant or Right, Outstanding | 456,950,000 | 1,950,000 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.004 | $ 0.44 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number | 456,950,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.004 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding |
WARRANTS (Details 1)
WARRANTS (Details 1) | 12 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Guarantees and Product Warranties [Abstract] | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit | $ 0.0015 |
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit | $ 0.44 |
Number of shares outstanding | shares | 201,950,000 |
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term | 4 years 8 months 19 days |
Weighted average exercise price outstanding | $ 0.004 |
WARRANTS (Details Narrative)
WARRANTS (Details Narrative) - USD ($) | 1 Months Ended | |||
Jan. 13, 2023 | Jan. 16, 2023 | Dec. 16, 2022 | Sep. 23, 2022 | |
Adjustments to Additional Paid in Capital, Warrant Issued | $ 126,066 | $ 108,769 | $ 188,675 | |
Mast Hill Fund L P [Member] | ||||
Debt Instrument, Face Amount | $ 347,000 | $ 233,000 | $ 290,000 | |
Mast Hill Fund L P [Member] | First Warrant [Member] | ||||
Debt Conversion, Converted Instrument, Warrants or Options Issued | 347,000,000 | 155,000,000 | 100,000,000 | |
Shares Issued, Price Per Share | $ 0.001 | $ 0.0015 | $ 0.003 | |
Mast Hill Fund L P [Member] | Second Warrant [Member] | ||||
Debt Conversion, Converted Instrument, Warrants or Options Issued | 148,000,000 | 100,000,000 | 100,000,000 | |
Shares Issued, Price Per Share | $ 0.003 | $ 0.003 | $ 0.003 |
INCOME TAXES- Net deferred tax
INCOME TAXES- Net deferred tax assets (Details) - USD ($) | Jun. 30, 2023 | Jun. 30, 2022 |
Deferred Tax Assets: | ||
NOL Carryover | $ 2,299,000 | $ 1,301,000 |
Deferred tax liabilities: | ||
Less valuation allowance | (2,299,000) | (1,301,000) |
Net deferred tax assets | $ 0 | $ 0 |
INCOME TAXES - Income tax provi
INCOME TAXES - Income tax provision (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Federal income tax benefit attributable to: | ||
Current operations | $ (998,000) | $ (567,000) |
Less: Valuation allowance | 998,000 | 567,000 |
Net provision for Federal income taxes | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | ||
U.S. federal income tax rate | 21% | 21% |
Net operating loss carry forwards | $ 2,299,000 | $ 1,301,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 3 Months Ended | 7 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jan. 16, 2024 | Jun. 30, 2023 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 11,608,313 | |||||
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 205,691 | |||||
Mast Hill Fund 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
[custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesInterest] | $ 3,937 | $ 42,200 | $ 36,024 | |||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 130,000,000 | 182,700,000 | 210,500,000 | 23,400,000 | 300,200,000 | |
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 15,600 | $ 24,041 | $ 121,607 | $ 2,040 | ||
Diagonal 1800 Lending 1 [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
[custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesInterest] | $ 5,500 | $ 4,626 | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 87,916,334 | 186,262,331 | 34,739,138 | 78,600,000 | ||
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 10,550 | $ 110,000 | $ 80,000 | $ 4,795 | ||
Coventry [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 90,000,000 | |||||
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 6,175 |