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Income Taxes
6 Months Ended
Dec. 31, 2021
Income Taxes  
Income Taxes

NOTE 10 – Income Taxes

The Company recognized no income tax expense for each of the three and six months ended December 31, 2021 and 2020. At the end of each interim period, management estimates the effective tax rate expected to be applicable for the full fiscal year and this rate is applied to the results for the year to date period, and adjusted for any items that are considered discrete in accordance with ASC 740-270. The primary difference between the statutory tax rate and the effective rate for the period ending December 31, 2021 would be the anticipated change in valuation allowance. Management records a valuation allowance for deferred tax assets that are more likely than not to not be realized.