XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (72,694,219) $ (16,485,804)
ADJUSTMENTS TO RECONCILE NET LOSS TO NET CASH USED IN OPERATING ACTIVITIES:    
Depreciation and amortization 90,727 85,487
Change in fair value of contingent consideration 7,289,156 0
Loss on extinguishment of debt 120,018 0
Loss on extinguishment of contingent consideration liability 0 419,182
Stock based compensation expense 3,844,658 2,922,166
Intangible asset impairment 42,611,000 0
Restricted shares for services rendered 4,570,000 0
Amortization of discount on notes payable 494,809 223,863
Changes in assets and liabilities:    
Other receivables 0 46
Prepaid expenses/deposits 798,741 689,273
Accounts payable 2,110,232 3,069,487
Accrued expenses 2,194,293 (407,433)
Other current liabilities 0 (18,520)
Operating leases, net 12,936 (10,684)
NET CASH USED IN OPERATING ACTIVITIES (8,557,649) (9,512,937)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Notes receivable prior to acquisition (1,225,779) 0
Cash received from acquisition 65,851 0
Purchase of property and equipment (46,878) (23,633)
NET CASH USED IN INVESTING ACTIVITIES (1,206,806) (23,633)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of promissory notes 3,645,000 0
Repayment of finance agreement (646,128) (840,992)
Proceeds from private placement 3,000,000 2,483,000
Proceeds from notes payable 1,710,000 0
Proceeds from exercise of warrants 341,865 1,625,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 8,050,737 3,267,008
Effect of exchange rates on cash 151,935 45,462
NET CHANGE IN CASH (1,561,783) (6,224,100)
CASH, BEGINNING OF PERIOD 1,874,480 9,172,142
CASH, END OF PERIOD 312,697 2,948,042
Cash paid during the period for:    
Interest 12,692 43,627
Income taxes 0 0
SUPPLEMENTAL DISCLOSURES OF NON-CASH FINANCING ACTIVITIES    
Finance agreement entered into in exchange for prepaid assets 906,834 1,139,875
Shares in lieu of interest on $1.2 million notes payable extension 0 204,392
Common shares issued for contingent earn out liability 0 2,762,500
Conversion of note payable for issuance of preferred stock 2,000,001 0
Common shares issued upon acquisition  136,001,631 0
Contingent consideration issued upon acquisition  20,557,500 0
Earn out shares issued in settlement of contingent liability 7,775,656 0
Note payable settled through non-cash exercise of warrants 2,000,000 0
Debt discount related to notes payable $ 301,841 $ 0