Subsequent Events

9 Months Ended

Mar. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

12. Subsequent Events

(a)	On April 5, 2021, the Company issued 200,000 common shares pursuant to the conversion of 2,500 Series C preferred shares.
(b)	On April 9, 2021, the Company issued 9,072,886 common shares for 10,600,000 cashless exercise of warrants.
(c)	On April 12, 2021, the Company issued 400,000 common shares pursuant to the conversion of 5,000 Series C preferred shares.

(d)	On April 16, 2021, the Company entered into a share purchase agreement with Tysadco Partners LLC, a Delaware limited company (“Tysadco”). Pursuant to the agreement, Tysadco is committed to purchase, subject to certain restrictions and conditions, up to $75,000,000 worth of the Company’s common stock, over a period of 24 months. In connection with this agreement, the Company issued 750,000 shares of restricted common stock as commitment fee. Subsequent to the signing of the agreement, the Company issued 500,000 common shares for proceeds of $591,813 related to the prior share purchase agreement entered into with Tysadco in October, 2020.
(e)	On April 16, 2021, the Company entered into a purchase and sale agreement with D.L.G Associates, LLC whereby the Company agreed to pay $2,172,750 for 172.82-acre feet of certain water rights.
(f)	On April 28, 2021, the Company filed a prospectus for 9,090,910 shares of common stock at $1.65 for gross proceeds of $15,000,001. In connection with the prospectus, the Company incurred 7% placement Agents’ fees, $250,000 legal fees, and issued 272,727 Agents’ warrants. Each Agent’s warrant is exercisable into one share of the common stock at a price of $1.815 per share until April 28, 2026.