Capital Stock and Equity Transactions

12 Months Ended

Jun. 30, 2024

Equity:

Capital Stock and Equity Transactions

Note 4 — Capital Stock and Equity Transactions

The Company has 700,000,000 shares of common stock authorized with a par value of $0.001 per share as of March 31, 2024. On August 13, 2021 the Company filed Articles of Amendment to Amended and Restated Articles of Incorporation with the State of Nevada increasing the number of common shares from 150,000,000 to 700,000,000.

In addition, the Company has 10,000,000 preferred stock authorized with a par value of $0.001 per share as of March 31, 2024. These shares are not entitled to receive dividends and shall not be entitled to any liquidation preference. Further the holders shall have no conversion rights, and the holders shall have the right to vote in an amount equal to 600 votes per share of Series A Preferred Stock.

The 7,567 shares of Series B Convertible Preferred Stock are convertible into 1,120,064 shares of common stock.

Issuance of Common Stock

During the year ended June 30, 2024, the Company issued 562,500 shares of Common Stock to employees. These shares were valued at the fair market value of $23,062 and expensed in the consolidated statements of operations.

During the year ended June 30, 2024, the Company issued 80,000 shares of Common Stock to vendors for services rendered. These shares were valued at the fair market value of $3,040 and expensed in the consolidated statements of operations.

During the year ended June 30, 2023, the Company issued 640,000 to members of the board of directors for services rendered. These shares were valued at the fair market value of $30,420 and expensed in the consolidated statements of operations.

During the year ended June 30, 2023, the Company issued 1,472,287 shares of common stock to employees. These shares were valued at the fair market value of $72,362 and expensed in the consolidated statements of operations.