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Other income - settlement
6 Months Ended
Dec. 31, 2022
Other Income and Expenses [Abstract]  
Other income - settlement

Note 14 – Other income - settlement

 

Settlement

 

In 2019, the Company engaged MCA Cure to negotiate settlements with two note holders, and paid MCA Cure a total of $97,625. In 2020, the Company discovered MCA Cure had not performed when bank accounts were levied for $33,705 and $18,705, being subsequently refunded, and engaged an attorney to recover funds. Currently the Company has a settlement agreement in place with Susquehanna Salt Loan and has hired an attorney to recover funds and damages from MCA Cure. In February 2022, a settlement was reached with MCA Cure for fees and attorney costs of $105,125, amortized at 1.5%, by which the Company would receive an initial payment of $10,000, and $6,500 monthly until the debt is satisfied in May 2023, with stipulations for any potential default. MCA Cure ceased making payments to the Company in the three month period ended December 2022, and as a result the Company is currently in the process of reopening its legal case against MCA Cure.

 

For the six months ended December 31, 2022 and 2021, the Company recorded $19,500 and $-0- in other income related to this settlement agreement, respectively.