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Loan Payable
6 Months Ended
Dec. 31, 2020
Loan Payable  
Loan Payable

Note 8 – Loan Payable

The Company financed its Directors and Officers liability insurance policies through BankDirect. The original loan balance, as of January 1, 2020, was $155,173 payable at the rate of $15,874 per month through October 2020  including interest at an annual interest rate of 5%. At December 31, 2020 and June 30, 2020, the loan balances  were $0 and $62,843, respectively. For the three and six months ended December 31, 2020, the Company incurred interest expense of $66 ad $655, respectively.