STOCKHOLDERS EQUITY

12 Months Ended

Jun. 30, 2025

STOCKHOLDERS EQUITY

STOCKHOLDERS' EQUITY

NOTE 8 – STOCKHOLDERS’ EQUITY:

Common Stock:

The Company is authorized to issue 60,000,000 shares of Common stock, par value $0.01; At June 30, 2025 and June 30, 2024 there were 3,292,945 and 3,292,945 shares issued and outstanding, respectively. 

Preferred Stock:

Series 2 Convertible Preferred Stock:

The Company is authorized to issue 10,000,000 shares of $0.01 par value of series 2 convertible preferred stock. Each Series 2 preferred share also includes one warrant to purchase two common shares for $5.00. The warrants are exercisable over a three-year period. In the event of the liquidation of the Company, holders of Series 2 preferred stock would be entitled to receive $5.00 per share, plus any unpaid dividends declared on the Series 2 preferred stock from the funds remaining after the Company’s creditors, including directors, have been paid. There have been no dividends declared. As of June 30, 2025, and June 30, 2024 there are 5,000 shares issued, which are convertible into 10,000 common shares. There are no warrants outstanding that have been issued in connection with these preferred shares.

Series 3 Convertible Preferred Stock:

The Company has authorized 1,670,000 shares of series 3 convertible preferred stock with a par value $0.01.  There are zero shares issued and outstanding at June 30, 2025 and 2024.

Series 5 Convertible Preferred Stock:

The Company has authorized 1 share of series 5 convertible preferred stock, no par value. There is 1 Series 5 Convertible Preferred shares designated. There were zero shares of Series 5 Convertible Preferred Stock converted to common stock.  There are zero shares issued and outstanding at June 30, 2025 and 2024.