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Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Estimated Fair Value of Derivative Liability

At September 30, 2019, the estimated fair value of derivative liabilities measured on a recurring basis are as follows:

		Fair Value Measurements at
		September 30, 2019
		Level 1				Level 2				Level 3				Total
Derivative liability – Warrants		$	—			$	—			$	8,109,724			$	8,109,724
Derivative liability -Conversion option on convertible debenture			—				—				2,533,668				2,533,668
Total derivatives		$	—			$	—			$	10,643,392			$	10,643,392

Schedule of Liabilities Measured at Fair Value

The following table presents the activity for liabilities measured at fair value using unobservable inputs for the three months ended September 30, 2019:

		Derivative liabilities - Warrants				Derivative liability - Conversion Option on Convertible Debenture
Beginning balance at July 1, 2019		$	—			$	—
Additions to level 3 liabilities			8,367,012				2,638,966
Change in in fair value of level 3 liability			(257,288	)			(105,298	)
Transfer in and/or out of Level 3			—				—
Balance at September 30, 2019		$	8,109,724			$	2,533,668

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ 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 (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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Tabular disclosure of derivative liabilities at fair value.

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