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Subsequent Events
6 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events

12. Subsequent Events

 

On January 27, 2022, the Company redeemed all outstanding shares of Series A Preferred Stock.

 

On January 27, 2022, the Company issued 668,150 shares from the cashless exercise of 750,000 share purchase warrants.

 

On February 2, 2022 the Company issued a Mandatory Conversion Notice to the remaining Series C Preferred stockholders. The notice converts all outstanding shares of Series C Preferred Stock to common stock at an 80:1 conversion ratio. 3,216,000 Common shares have been issued since October 1, 2021, with 2,216,000 common shares being issued after December 31, 2021.

 

On February 8, 2022 the Company issued $125,700 in dividend payments to Series C stockholders that held shares from date of issuance. No remaining dividends are expected to be paid in relation to Series C Preferred Stock as there are no remaining Series C Preferred Stock outstanding as of the issuance date of this report.

 

The Company has evaluated subsequent events through the date the financial statements were available to be issued and has not identified any additional subsequent events requiring adjustments to, or disclosures in the accompanying condensed financial statements.