INVESTMENT IN EQUITY SECURITIES

3 Months Ended

Sep. 30, 2025

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENT IN EQUITY SECURITIES

NOTE 5 – INVESTMENT IN EQUITY SECURITIES

During June of 2023 the Company made a $2,000,000 equity investment in Casa Azul Spirits, LLC, a tequila Company incorporated in Delaware, which gave the Company a 5% ownership stake. As the Company neither controls nor has significant influence over the investee, the investment is recognized in accordance with ASC 321, Equity Securities. Further, as the equity investment does not have a readily determinable fair value and does not qualify for the practical expedient to estimate fair value (outlined in ASC 820-10), the Company recognizes its investments in Casa Azul at cost minus impairment.

The carrying amount of the investment in Casa Azul was $1,000,000 as of September 30, 2025 and June 30, 2025. During the fiscal year ended June 30, 2025, the Company recognized a $1.0 million impairment on its original $2.0 million investment, resulting in a carrying value of $1.0 million as of June 30, 2025. The Company considered the price per share disclosed in subscription agreements issued by Casa Azul in determining the carrying amount of the investment as of September 30, 2025 and June 30, 2025.