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Transactions with Affiliated Parties
6 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
Transactions with Affiliated Parties

NOTE 13 – TRANSACTIONS WITH AFFILIATED PARTIES

 

At December 31, 2018 and June 30, 2018, the Company had accrued salaries payable to executives in the amount of $536,825 and $568,575, respectively.

 

During the year ended June 30, 2017, the Company issued a convertible debenture to a family member of a former key executive for proceeds of $200,000. This transaction is described in more detail in Note 5 under the debenture reference C) April – June, August, October and November 2016 Convertible Debentures.