v3.22.2.2
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES (Tables)
12 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
SCHEDULE OF TRANSLATION EXCHANGE RATES

As of June 30, 2022 and 2021, the exchange rates used to translate amounts in Australian dollars into USD for the purposes of preparing the consolidated financial statements were as follows:

  

           
   June 30, 2022   June 30, 2021 
Exchange rate on balance sheet dates          
USD : AUD exchange rate   0.6915    0.7500 
           
Average exchange rate for the period          
USD : AUD exchange rate   0.7253    0.7473 
SCHEDULE OF ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS

Change in Accumulated Other Comprehensive Income (Loss) by component during the years ended June 30, 2022 and 2021 were as follows:

   Foreign
Currency Items:
 
Beginning balance, June 30, 2020  $1,267,671 
Foreign currency translation gain   182,467 
Balance, June 30, 2021   1,085,204 
Foreign currency translation gain   149,345 
Ending balance, June 30, 2022  $1,234,549 
SCHEDULE OF PROPERTY AND EQUIPMENT ESTIMATED USEFUL LIVE

The estimated useful lives are as follows:

  

Machinery and equipment - 5 years
Furniture - 7 years
SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE

 

           
   June 30, 2022   June 30, 2021 
         
Stock Options   59    59 
Stock Warrants   105,420    121,329 
Unvested restricted stock   59    59 
Convertible Debt   127,062,326    12,416,972 
Total   127,167,864    12,538,419