v3.20.4

Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Values Determined by Level 3 Inputs

The following table presents information about the assets and liabilities that are measured at fair value on a recurring basis at December 31, 2020 and June 30, 2020 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value.

At December 31, 2020
		Total	Level 1	Level 2	Level 3
Assets
	Customer List	$700,092	-	-	$700,092
	Vendor Relationship	364,824	-	-	364,824
	Development Costs	367,791	-	-	367,791
		$1,432,707	-	-	$1,432,707
Liabilities
	Original Issue discount, convertible debt	$3,719,000	-	-	$3,719,000
At June 30, 2020
		Total	Level 1	Level 2	Level 3
Assets
	Customer list	$748,847	-	-	$748,847
	Vendor relationship	407,153	-	-	407,153
	Development costs	280,315	-	-	280,315
		$1,436,315	-	-	$1,436,315
Liabilities
	Original issue discount, convertible debt	$213,300	-	-	$213,300
	Derivative liability warrants	33,312	-	-	33,312
Total		$246,612	-	-	$246,612

Schedule of Derivative Liability Valued Using Monte Carlo Pricing Model

The derivative liability was valued using the Monte Carlo pricing model with the following inputs:

At December 31, 2020
	Risk-free interest rate:		0.10%
	Expected dividend yield:		0.00%
	Expected stock price volatility:		315.00%
	Expected option life in years:		0.87 to 1.19 years
At June 30, 2020
	Risk-free interest rate:		0.09%
	Expected dividend yield:		0.00%
	Expected stock price volatility:		300.00%
	Expected option life in years:		.085 to 1.69 years

Schedule of Reconciliation of Changes in Fair Value of Convertible Debt

The following table sets forth a reconciliation of changes in the fair value of the Company's convertible debt components classified as Level 3 in the fair value hierarchy at December 31, 2020 and June 30, 2020:

Balance at June 30, 2020		$            246,612
Additional convertible securities at inception		2,000
Realized		(55,612)
Unrealized			3,526,000
Ending balance at December 31, 2020		$        3,719,000
Balance at June 30, 2019		$        1,025,944
Additional convertible securities at inception		2,027,000
Settlement of conversion features and warrants		(152,374)
Realized		(240,903)
Unrealized		(2,413,055)
Ending balance at June 30, 2020		$          246,612

X

- Definition

Tabular disclosure of reconciliation of changes in fair value of convertible debt.

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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