INCOME TAXES

6 Months Ended

Dec. 31, 2025

INCOME TAXES

INCOME TAXES

NOTE 5       INCOME TAXES

The Company follows the provisions for uncertain tax positions as addressed in Financial Accounting Standards Board Accounting Standards Codification 740-10. For both the three and six month periods ended  December 31, 2025, the Company recorded an income tax provision of $2,490, which primarily result from taxable income generated during the period after utilization of available federal net operating loss carryforwards.

As of December 31, 2025, the Company has estimated net operating loss carryovers of $207,427 which do not expire but are limited to 80% of taxable income under current tax law. The Company maintains a valuation allowance against its deferred tax assets. As of December 31, 2025 and 2024, a valuation allowance of $27,456 and $0, respectively, was established.

NOTE 5       INCOME TAXES (cont.)

The Company has no material tax positions at December 31, 2025, for which the ultimate deductibility is highly certain, but for which there is uncertainty about the timing of such deductibility.  The Company had no accruals for interest or penalties at December 31, 2025. The Company’s federal income tax returns for fiscal years 2022 through 2025 remain subject to examination by the Internal Revenue Service taxing authority.