v3.21.2
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]  
Schedule of Capital Structure

The Company's capital structure is as follows:

June 30, 2021

Authorized

Issued

Outstanding

 

Common stock

4,000,000,000

3,139,882,882

3,089,844,257

$.0001 par value, one vote per share

 

Preferred stock

200,000,000

-

-

$.0001 par value, one vote per share

 

Preferred stock-Class A

750,000

-

-

$.0001 par value; no voting rights

 

Preferred stock-Class B

1,000,000

-

-

Voting rights of 10 votes for 1 Preferred B share; 2% preferred dividend payable annually

 

Preferred stock-Class C

9,000,000

-

-

$.0001 par value; 500 votes per share, convertible to common stock

 

Preferred stock-Class D

1,000,000

-

-

$.0001 par value; no voting rights, convertible to common stock, mandatory conversion to common stock 18 months after issue

 

F-11

Preferred stock-Class E

500,000

500,000

500,000

$.0001 par value; no voting rights, convertible to common stock

 

June 30, 2020

Authorized

Issued

Outstanding

 

Common stock

4,000,000,000

628,039,242

628,000,617

$.0001 par value, one vote per share

 

Preferred stock

200,000,000

-

-

$.0001 par value, one vote per share

 

Preferred stock-Class A

750,000

-

-

$.0001 par value; no voting rights

 

Preferred stock-Class B

1,000,000

-

-

Voting rights of 10 votes for 1 Preferred B share; 2% preferred dividend payable annually

 

Preferred stock-Class C

9,000,000

-

-

$.0001 par value; 500 votes per share, convertible to common stock

 

Preferred stock-Class D

1,000,000

-

-

$.0001 par value; no voting rights, convertible to common stock, mandatory conversion to common stock 18 months after issue

 

Preferred stock-Class E

500,000

500,000

500,000

$.0001 par value; no voting rights, convertible to common stock

Schedule of Contract Assets and Contract Liabilities

Contract assets and contract liabilities are as follows:

June 30, 2021

June 30, 2020

Contract Assets

$

43,360

$

-

Contract Liabilities

$

228,514

$

463,961

Schedule of Useful Lives of Property and Equipment

Property and equipment and the estimated useful lives used in computing depreciation, are as follows:

Furniture and fixtures

5 years

Equipment

5 to 8 years

Vehicles

5 years

Building

40 years

Building improvements

8 years

Schedule of Intangible Assets

Goodwill and intangible assets are comprised of the following at June 30, 2021:

Cost

Accumulated Amortization

Net Book

Value

Impairment

Total

Goodwill

$

834,220

$

-

$

834,220

$

-

$

834,220

 

Finite-lived assets:

Customer list

$

922,053

$

(314,166)

$

607,887

$

-

$

607,887

Vendor relationships

484,816

(168,474)

316,342

-

316,342

Product development costs

790,118

(197,532)

592,586

-

592,586

$

2,196,987

$

(680,172)

$

1,516,815

$

-

$

1,516,815

F-14

Goodwill and intangible assets are comprised of the following at June 30, 2020:

Cost

Accumulated Amortization

Net Book

Value

Impairment

Total

Goodwill

$

1,634,507

$

-

$

1,634,507

$

(800,287)

$

834,220

 

Finite-lived assets:

Customer list

$

881,000

$

(132,147)

$

748,853

$

-

$

748,853

Vendor relationships

479,000

(71,847)

407,153

-

407,153

Noncompete agreement

1,600,000

(400,000)

1,200,000

(1,200,000)

-

Product development costs

281,845

(1,536)

280,309

-

280,309

$

3,241,845

$

(605,530)

$

2,636,315

$

(1,200,000)

$

1,436,315