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SUBSEQUENT EVENTS
3 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS 

 

In accordance with ASC 855, Subsequent Events, the Company has evaluated events and transactions subsequent to September 30, 2025 through the date these unaudited condensed consolidated financial statements were issued. Other than the below, there are no subsequent events identified that would require disclosure in these unaudited condensed consolidated financial statements.

 

Debt Payments

 

Payments on various notes payable of approximately $2.5 million were repaid subsequent to September 30, 2025.

 

Debt Issuance

 

Subsequent to September 30, 2025, the Company issued approximately $0.7 million of notes payable bearing interest at rates of 10% to 15%, with a maturity date of February 16, 2026.

 

License of The Dink

 

On November 20, 2025, a license and distribution agreement was agreed to between Apple Video Programming LLC and the Company for access rights to the feature film “The Dink” and all associated short from content (i.e. trailers, deleted scenes, etc.) The license term is up to 15 years following the initial exploitation of the project. In consideration of the license agreement, the Company is to receive a fixed payment of $12 million of which approximately $2.4 million has been received as of this date. The agreement is by reference incorporated herein and attached hereto as exhibit 10.4. The agreement will close upon delivery of the film to the counterparty, which is expected to occur in approximately 60 days from the date of this filing.

 

Issuance of Common Stock

 

On November 24, 2025, the Company issued 1,500,000 shares for payment of producer fees.