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Provision for Income Taxes (Tables)

9 Months Ended

12 Months Ended

Mar. 31, 2021

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets

The Company’s deferred tax assets as of March 31, 2021 and 2020 consist of the following:

		As of March 31,				As of March 31,
		2021				2020
Deferred tax assets:
Net-operating loss carryforward		$	3,204,726			$	2,552,860
Stock-based compensation			536,865				334,246
Total Deferred Tax Assets			3,741,591				2,887,106
Valuation allowance			(3,741,591	)			(2,887,106	)
Deferred Tax Asset, Net		$	-			$	-

The Company’s deferred tax assets as of June 30, 2020 and 2019 consist of the following:

		As of June 30,				As of June 30,
		2020				2019
Deferred tax assets:
Net-operating loss carryforward		$	2,811,156			$	1,917,702
Stock-based compensation			348,013				241,360
Total Deferred Tax Assets			3,159,169				2,159,062
Valuation allowance			(3,159,169	)			(2,159,062	)
Deferred Tax Asset, Net		$	-			$	-

Schedule of Expected Tax Expense (Benefit) Based on US Federal Statutory Rate

The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows:

		For the Nine Months Ended				For the Nine Months Ended
		March 31, 2021				March 31, 2020
Statutory Federal Income Tax Rate			(21.00	)%			(21.00	)%
State and Local Taxes, Net of Federal Tax Benefit			(13.56	)%			(13.56	)%
Stock Based Compensation Expense (ISO)			19.00	%			14.10	%
Change in Valuation Allowance			15.56	%			20.46	%
Income Taxes Provision (Benefit)			0.00				0.00

The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows:

		For the year ended				For the year ended
		June 30,				June 30,
		2020				2019
Statutory Federal Income Tax Rate			(21.00	)%			(21.00	)%
State and Local Taxes, Net of Federal Tax Benefit			(13.56	)%			(13.56	)%
Stock Based Compensation Expense (ISO)			14.50	%			12.60	%
Change in Valuation Allowance			20.06	%			21.96	%
Income Taxes Provision (Benefit)			0.00				0.00

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- References

No definition available.

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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