v3.26.3
INCOME TAXES (Tables)
 12 Months Ended
Jun. 30, 2026
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, 2026 and 2025 is as follows:

 

 

                 
   Year Ended     
   June 30, 2026   %   June 30, 2025   % 
Loss before Income taxes  $(18,862,710)       $(58,923,300)     
                     
Taxes under statutory US tax rates  $(3,961,170)   21%  $(12,373,893)   21%
Increase (decrease) in valuation allowance   3,668,330    (19.4)%   12,383,827    (21)%
Foreign tax rate differential   (72,125)   0.4%   (54,939)   0.1%
Settlement expenses   67,200    (0.4)%   -    - 
Foreign exchange revaluation of foreign NOLs   307,160    (1.7)%   -    - 
Other   (17,630)   0.1%   92,571    (0.2)%
Prior period adjustment   -    -    (47,566)   0.1%
Other adjustments   8,235    0.0%   -    - 
Income tax (expense) benefit  $-    0%  $-    0%
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities consist of the following:

 

 

         
   Year Ended 
   June 30, 2026   June 30, 2025 
Deferred tax assets          
Warrant Derivative Liability  $486,514   $468,457 
Accrued Expenses   624,997    614,493 
Prepaid Investor Services   582,409    582,409 
Non-cash interest   817,536    817,536 
Intangibles (Intellectual Property and Patent Cost)   417,441    367,347 
Deferred Rent   5,084    4,114 
Formation Expense   6,553    6,553 
Net Operating Loss carryforward   27,614,180    25,483,996 
Gain on extinguishment of debt   11,440    102,604 
Total Deferred tax assets  $30,566,154   $28,447,509 
           
Deferred tax liabilities          
Research and Development  $(202,718)  $(202,718)
Stock Based Compensation   (2,396,363)   (3,960,547)
Foreign Exchange Loss (OCI)   (39,379)   (39,379)
Capital Raising Costs   (413,245)   (398,746)
Total deferred tax liabilities  $(3,051,705)  $(4,601,390)
           
Net deferred tax assets  $27,514,449   $23,846,119 
Valuation allowance   (27,514,449)   (23,846,119)
Net deferred tax assets  $-   $-