GAIN ON DEBT WRITE-OFF

3 Months Ended

Sep. 30, 2024

GAIN ON DEBT WRITE-OFF

GAIN ON DEBT WRITE-OFF

NOTE 7: GAIN ON DEBT WRITE-OFF

In July 2024 the Company obtained a legal opinion to extinguish aged debt totaling $725,059 as detailed in the following table. Each of the individual debt instruments were determined to be beyond the statute of limitations and it was determined that the Company has a complete defense to liability related to this debt under the applicable statute of limitations. For the three months ended September 30, 2024 the gain on extinguishment of debt was:

Accrued interest expense	$	361,559
Convertible notes payable		208,500
Promissory notes payable		155,000
Gain on extinguishment of debt for the three months ended September 30, 2024	$	725,059