v3.22.2.2
Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (565,514) $ (22,433,081)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,617,032 408,802
Stock-based compensation - related party 2,438,900 16,537,500
Common stock payable for services 0 5,480,000
Common stock issued for services 45,943 49,149
Loss on sale of property and equipment 46,999  
Loss on disposition of property and equipment 154,180 238,363
Amortization of debt discount 8,636 404,387
Realized loss (gain) on sale of digital currencies (181,853) 22,948
Change in fair value of derivative liabilities 0 76,687
Gain on extinguishment of debt (5,924) (9,125)
Changes in operating assets and liabilities:    
Digital currencies (5,009,691) (1,792,451)
Prepaid expenses and other current assets 195,120 (194,370)
Equipment deposits 1,135,088 0
Deposits (78,147) 0
Accounts payable 28,702 (281,639)
Accrued expenses 4,731 18,665
Due to related party 221,253 (93,550)
Net cash provided by (used in) operating activities 55,455 (1,567,715)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Equipment deposits (7,763,487) (7,663,265)
Net proceeds from the sale of digital currencies 7,462,655 9,211,118
Purchase of property and equipment (73,575) (3,291,346)
Purchase of digital currencies (2,098,676) (7,374,678)
Proceeds from sale of property and equipment 70,000 0
Proceeds from sale of fully depreciated property and equipment to a related party 135,450 0
Net cash provided by (used in) investing activities (2,267,633) (9,118,171)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible notes payable 0 563,000
Proceeds from the issuance of Series C preferred stock 0 1,125,000
Proceeds from the issuance of Series D preferred stock and warrants 0 3,000,000
Proceeds from the issuance of common stock 0 8,135,000
Proceeds from related party short term advance 118,150 0
Proceeds from notes payable 500,000 0
Repayment of notes payable (13,229) 0
Repayment of convertible notes payable 0 (46,252)
Net cash provided by (used in) financing activities 604,921 12,776,748
Net increase (decrease) in cash (1,607,257) 2,090,862
Cash, cash equivalents, and restricted cash - beginning of period 2,097,537 6,675
Cash, cash equivalents, and restricted cash - end of period 490,280 2,097,537
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest 541 3,014
Income taxes 0 0
Non-cash investing and financing activities:    
Equipment deposits transferred to property and equipment 11,936,497 0
Common stock issued for common stock payable 5,480,000 0
Accrued preferred stock dividends 550,554 193,933
Common stock issued in debt incentive 123,200 0
Conversion of Series B preferred stock for common stock 2,474 5,263
Common stock issued with debt 0 999,869
Settlement of derivative liabilities 0 466,093
Common stock issued for Series C preferred stock equity incentive 0 384,100
Debt discount for derivative liabilities 0 258,460
Common stock issued for stock subscription 0 33,888
Notes payable issued for property and equipment 0 57,822
Property and equipment purchased with digital currencies $ 0 $ 4,178