Property and Equipment

6 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

3. Property and Equipment

	Land		Building		Equipment		Total
Cost:
Balance, June 30, 2022	$	6,728,838	$	10,798,780	$	1,388,392	$	18,916,010
Additions		–		–		799,719		799,719
Construction in process		–		2,087,599		–		2,087,599
Balance, December 31, 2022	$	6,728,838	$	12,886,379	$	2,188,111	$	21,803,328
Accumulated Depreciation:
Balance, June 30, 2022	$	–	$	–	$	39,115	$	39,115
Additions		–		–		35,981		35,981
Balance, December 31, 2022	$	–	$	–	$	75,096	$	75,096
Carrying Amounts:
Balance, June 30, 2022	$	6,728,838	$	10,798,780	$	1,349,277	$	18,876,895
Balance, December 31, 2022	$	6,728,838	$	12,886,379	$	2,113,015	$	21,728,232

The building and equipment expenditures are primarily under construction and are not commissioned for use as of December 31, 2022.

In February 2021, the Company entered into an agreement to purchase land with a fair value of $85,000 located in Tonopah, NV in exchange for an agreed-upon number of common shares though the transaction had not cleared escrow. In September 2021, the Company later issued the shares whereby the stock price had increased. To correct the carrying value, the Company recognized impairment expense of $186,779. The Company has included the impairment costs in general and administrative expenses for the six months ended December 31, 2021.