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CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015
REVENUE |  |  |  |
Revenue | $ 0 | $ 0 | $ 0 | $ 0
OPERATING EXPENSES |  |  |  |
Administration expenses | 775,216 | 504,724 | 2,620,324 | 980,637
Occupancy expenses | 5,235 | 2,366 | 15,062 | 7,710
Research and development | 510,301 | 9,475 | 806,578 | 15,797
TOTAL OPERATING EXPENSES | 1,290,752 | 516,565 | 3,441,964 | 1,004,144
LOSS FROM OPERATIONS | (1,290,752) | (516,565) | (3,441,964) | (1,004,144)
OTHER INCOME (EXPENSE) |  |  |  |
Interest expense | (1,104,315) | (199,287) | (2,678,604) | (847,942)
Interest income | 0 | 13 | 2,027 | 16
Other expense | 0 | 0 | 0 | (50,002)
Change in fair value of derivative liabilities | 57,118 | (42,802) | (494,772) | 79,940
Gain (loss) on debt settlements, net | 0 | 331,457 | (58,893) | 366,341
Foreign currency transaction gain (loss) | 186,070 | (27,066) | 47,366 | (209,678)
TOTAL OTHER INCOME (EXPENSE) | (861,127) | 62,315 | (3,182,876) | (661,325)
LOSS BEFORE INCOME TAXES | (2,151,879) | (454,250) | (6,624,840) | (1,665,469)
INCOME TAX (EXPENSE) BENEFIT | (30) | 0 | 71,970 | 79,302
NET INCOME (LOSS) | (2,151,909) | (454,250) | (6,552,870) | (1,586,167)
OTHER COMPREHENSIVE INCOME (LOSS) |  |  |  |
Foreign currency translation gain (loss) | (238,292) | 131,659 | (126,413) | 349,796
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | $ (2,390,201) | $ (322,591) | $ (6,679,283) | $ (1,236,371)
BASIC AND DILUTED NET LOSS PER SHARE ( in dollars per share) | $ (0.00) | $ (0.00) | $ (0.02) | $ (0.01)
BASIC AND DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING (in shares) | 510,808,665 | 201,772,426 | 419,957,374 | 124,223,579

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