ISSUANCE OF COMMON STOCK IN BUSINESS ACQUISITION

9 Months Ended

Mar. 31, 2022

Issuance Of Common Stock In Business Acquisition

ISSUANCE OF COMMON STOCK IN BUSINESS ACQUISITION

8. ISSUANCE OF COMMON STOCK IN BUSINESS ACQUISITION

On October 4, 2021, the Company issued 2,500,000 unregistered shares of its common stock to the sellers of Lighthouse Imaging, LLC, valued on that date at $1.60 per share or $4,000,000, as shown in the accompanying statement of stockholders’ equity for the nine months ended March 31, 2022.

In conjunction with the issuance, the Company agreed to use reasonable efforts to effectuate within a reasonable period after the October 4, 2021 business acquisition date a registration statement with the Securities and Exchange Commission to register the resale by the sellers of 2,500,000 shares of its common stock issued in the business acquisition.