v3.10.0.1

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Jun. 30, 2018
Current Assets
Cash	$ 34,467	$ 2,966
Accounts receivable, less allowance for doubtful accounts of $4,000 and $4,000	137,569	139,772
Inventory	28,647	30,391
Prepaid and Other Assets	44,909	67,065
Total Current Assets	245,592	240,194
Property, plant and equipment, net of accumulated depreciation of $408,529 and $349,373	1,300,816	1,359,972
TOTAL ASSETS	1,546,408	1,600,166
Current Liabilities
Accounts payable	68,346	91,286
Accrued liabilities	776,150	580,124
Environmental liability	400,000	400,000
Convertible notes payable - related parties	1,586,875	1,579,919
Current portion of capital lease obligations	11,495	12,484
Current portion of long-term debt	1,016,897	339,858
Total Current Liabilities	3,859,763	3,003,926
Capital lease obligation, less current portion	7,941	13,124
Long-term debt, less current portion	18,283	715,131
TOTAL LIABILITIES	3,885,987	2,731,926
Stockholders' Equity:
Preferred stock, 5,000,000 shares authorized, 0 shares issued and outstanding	0	0
Common stock, $.001 par value, 600,000,000 and 100,000,000 shares authorized as of December 31, 2018 and June 30, 2018, respectively 98,238,177 and 91,988,177 shares issued and outstanding as of December 31, 2018 and June 30, 2018, respectively	98,238	91,988
Additional paid in capital	21,165,128	20,858,878
Accumulated deficit	(24,417,218)	(23,829,238)
Total Freestone Resources, Inc. stockholders' deficit	(3,153,852)	(2,878,372)
Non-Controlling Interest	814,273	746,612
Total equity (deficit)	(2,339,579)	(2,131,760)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 1,546,408	$ 1,600,166

Carrying amount as of the balance sheet date, net of allowance for doubtful accounts, of account and note receivables due from other than related parties.

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Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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FREESTONE RESOURCES, INC. 10-Q