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Restatement of an error
12 Months Ended
Jun. 30, 2022
Restatement of an error  
Restatement of an error

Note 3 – Restatement of an error

 

The Company recorded accrued salaries related to former executives as part of accounts payable and accrued expenses after the Acquisition transaction on July 14, 2020.  The Company identified that as part of the agreement that these accrued salaries were forgiven as part of the initial transaction.  The company recorded adjustment to the June 30, 2020 financial statements that reduced accounts payable and accrued expenses and reduced retained deficit by $725,113.