Inventory, Prepaid Inventory, and Prepaid Expenses

6 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventory, Prepaid Inventory, and Prepaid Expenses

Note 4 – Inventory, Prepaid Inventory, and Prepaid Expenses

The Company maintains some inventory in its warehouse and purchases some of its inventory overseas. Inventories, except for stock in transit, are stated at lower of cost and net realizable value. Stock in transit is valued at cost comprising invoice value plus other charges thereon. Net realizable value is the estimated selling price in ordinary course of business less estimated costs of completion and selling expenses. The quantity of inventory may vary from time to time depending on the delivery schedule of overseas shipments.

As of December 31, 2022 and June 30, 2022, the Company had $64,170 and $7,064 in inventory, respectively, as well as $-0- and $62,040 in prepaid inventory, respectively.

As of December 31, 2022 and June 30, 2022, the Company had $3,900 and $-0- in prepaid expenses, respectively.