Notes Payable

12 Months Ended

Jun. 30, 2025

Notes Payable

Notes Payable

Note 6 — Notes Payable

Notes payable consisted of the following:

	June 30, 2025			June 30, 2024
November and December 2017 – Total loan of $350,000 with no interest rate with maturity date of November and December 2018, currently the note is due upon demand.	$	150,000		$	150,000
February 2018 – Total loan of $150,000 with interest rate at 12% per annum with maturity date of August 2018, currently the note is due upon demand.		279,000			279,000
Total notes payable		429,000			429,000
Less current portion of notes payable		(429,000	)		(429,000	)
Notes payable, less current portion	$	-		$	-

·	November and December 2017 - $350,000
	During the year ended June 30, 2018, the Company entered two promissory notes with an investor of the Company in the total amount of $350,000 with no interest rate due in November and December 2018.  These notes are considered payable upon demand as of June 30, 2025 and 2024.  During the year ended June 30, 2024 the Company paid $71,000 and intends to make monthly payments of $25,000 until the note is paid in full.
·	February 2018 - $150,000
	During the year ended June 30, 2018, the Company issued a promissory note with an investor of the Company in the amount of $150,000 in exchange for $132,000 cash with an interest rate of 12% per annum.  The loan maturity date was extended to August 8, 2019, the discount was fully amortized as of June 30, 2024 and 2023.  As of June 30, 2025 and 2024, the total unpaid and accrued interest was $114,904 and $114,904, respectively, and is recorded in accrued liabilities.

Total interest expense on notes payable was $18,000 and $18,000 for the years ended June 30, 2025 and 2024, respectively.