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Going Cercern
12 Months Ended
Jun. 30, 2025
Going Cercern [Abstract]  
GOING CERCERN

NOTE 3 – GOING CERCERN

 

The Company’s financial statements are prepared assuming that the Company will continue as a going concern. The Company has incurred operating losses and had negative operating cash flows in the fiscal year 2025. In addition, as more fully described in Note 18, Subsequent Events, on October 13, 2025, the Company was notified by NYSE of its determination to commence proceedings to delist the Company’s common stock. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least one year from the date these financial statements are issued.

 

The ability of the Company to continue as a going concern is dependent upon its ability to successfully appeal the NYSE’s determination, or, failing that, to secure alternative sources of financing and ultimately achieve profitable operations. The delisting, if finalized, will severely impair our ability to raise capital through public equity markets.

 

Management’s plans to mitigate these adverse conditions include appealing to the NYSE’s delisting determination, implementing cost-reduction measures, and exploring alternative financing arrangements. However, there can be no assurance that the Company’s plans will be successful.

 

The accompanying financial statements do not include any adjustments to reflect the carrying values and classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.