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INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF INCOME TAX PROVISION

The reconciliation of income tax expense computed at the U.S. federal statutory rate of 21% to the income tax provision for the years ended June 30, 2024 and 2023 is as follows:

PROPANC BIOPHARMA, INC. AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2024 and 2023

SCHEDULE OF INCOME TAX PROVISION

US		June 30, 2024				June 30, 2023
		Year Ended
US		June 30, 2024				June 30, 2023
Loss before Income taxes		$	(1,874,914	)		$	(2,790,407	)
Taxes under statutory US tax rates		$	(393,732	)		$	(585,986	)
Increase (decrease) in valuation allowance			306,682				556,521
Foreign tax rate differential			(55,358	)			(60,316	)
Prior period adjustment			76,194				81,599
Other			66,214				8,182
Income tax (expense) benefit		$	-			$	-

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

		June 30, 2024				June 30, 2023
		Year Ended
		June 30, 2024				June 30, 2023
Deferred tax assets
Warrant Derivative Liability		$	513,071			$	579,544
Accrued Expenses			559,723				478,273
Prepaid Investor Services			551,796				575,021
Non-cash interest			817,536				758,797
Intangibles (Intellectual Property and Patent Cost)			351,144				321,557
Deferred Rent			4,492				4,550
Formation Expense			6,553				6,553
Net Operating Loss carryforward			9,075,029				8,910,874
Gain on extinguishment of debt			97,992				47,393
Stock Based Compensation			84,028				84,028
Total Deferred tax assets		$	12,061,364			$	11,766,590
Deferred tax liabilities
Research and Development		$	(170,435	)		$	(202,568	)
Foreign Exchange Loss (OCI)			(39,379	)			(39,379	)
Capital Raising Costs			(389,258	)			(369,033	)
Total deferred tax liabilities		$	(599,072	)		$	(610,980	)
Net deferred tax assets		$	11,462,292			$	11,155,610
Valuation allowance			(11,462,292	)			(11,155,610	)
Net deferred tax assets		$	-			$	-

SCHEDULE OF LOSS PER SHARE BASIS OF REVERSE STOCK SPLIT

The unaudited pro forma tables below show the losses per share prior to the reverse split and following the reverse split. A key assumption to the loss per share calculation is that post-reverse split price is equal to the pre-reverse split times the number of shares from the ratio.

SCHEDULE OF LOSS PER SHARE BASIS OF REVERSE STOCK SPLIT

Historical per share data – (Pre- Split basis)		Year Ended June 30, 2024				Year Ended June 30, 2023
Net loss available to Common Stockholders		$	2,013,488			$	3,126,839
Basic and diluted weighted average shares outstanding			85,045,339				1,738,802
Basic and diluted net loss per share		$	0.02			$	1.80

The assumption inherent in the table below is a reverse split of 1:100,000.

Historical per share data – (Post- Split basis)		Year Ended June 30, 2024				Year Ended June 30, 2023
Net loss available to Common Stockholders		$	2,013,488			$	3,126,839
Basic and diluted weighted average shares outstanding			850				17
Basic and diluted net loss per share		$	2,368.81			$	183,931.71

The table below shows the loss per share effect of reverse stock splits at 1:10,000, 1:50,000 and 1:100,000:

		Year Ended June 30, 2024				Year Ended June 30, 2023				Year Ended June 30, 2024				Year Ended June 30, 2023				Year Ended June 30, 2024				Year Ended June 30, 2023
Split Ratio		1:10,000								1:50,000								1:100,000
		Year Ended June 30, 2024				Year Ended June 30, 2023				Year Ended June 30, 2024				Year Ended June 30, 2023				Year Ended June 30, 2024				Year Ended June 30, 2023
Net losses available to common stockholders		$	2,013,488			$	3,126,839			$	2,013,488			$	3,126,839			$	2,013,488			$	3,126,839
Weighted Average Shares Outstanding			8,505				174				1,701				35				850				17
Loss per share		$	236.74			$	17,970			$	1,183.71			$	89,338.26			$	2,368.81			$	183,931.71

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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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.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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