ACCRUED OFFICER AND DIRECTOR COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2023

Accrued Officer And Director Compensation

SCHEDULE OF ACCRUED OFFICER AND DIRECTOR COMPENSATION

Accrued officer and director compensation due to Jimmy Wayne Anderson, the Company’s former sole officer and director, and consists of:

	June 30, 2023		June 30, 2022
Pursuant to the July 1, 2021 Board of Directors Service Agreement	$	-	$	-
Total	$	-	$	-

SCHEDULE OF CHANGES IN ACCRUED OFFICER AND DIRECTOR COMPENSATION

For the years ended June 30, 2023 and 2022, the balance of accrued officer and director compensation changed as follows:

	Pursuant to Employment Agreements (ii)(iii)			Pursuant to Board of Directors Services Agreements (i)(iv)			Total
Balances on June 30, 2021	$	-		$	-		$	-
Officer’s/director’s compensation for the year ended June 30, 2021 (including stock-based compensation of $40,000 accrued as Stock to be Issued)		-			80,000			80,000
Cash compensation		-			(80,000	)		(80,000	)
Balances on June 30, 2022		-			-			-
Officer’s/director’s compensation for the year ended June 30, 2023		298,634			80,000			80,000
Cash compensation		(298,634	)		(80,000	)		(80,000	)
Balances on June 30, 2023	$	-		$	-		$	-

(i)	On July 1, 2021, the Company executed a new Board of Directors Service Agreement with the Company’s former Chief Executive Officer, Jimmy Wayne Anderson. Under the terms of the Agreement, Mr. Anderson received a one-time bonus payment of Fifty Thousand and no/100 dollars ($50,000.00) upon execution of the Agreement, and Twenty Thousand and no/100 dollars ($20,000.00) paid to Mr. Anderson on the last calendar day of each quarter as long as Mr. Anderson continued to fulfill his duties and provide the services set forth above. The compensation of $20,000 per quarter commenced during the third calendar quarter of 2021 (first fiscal quarter of 2022). On May 17, 2023, Mr. Anderson resigned in his role as an officer and director of the Company.
(ii)	On July 28, 2022, the Company’s Board of Directors elected to compensate Mr. Anderson as Mr. Anderson has served as the Company’s sole officer and director since December 2018 and has not been under an employment agreement. As such, the Company compensated Mr. Anderson a total of $294,467 during the first quarter of fiscal 2023. In addition to cash compensation received by Mr. Anderson, the Company also reimbursed Mr. Anderson $28,056 for expenses paid on behalf of the Company.
(iii)	On May 17, 2023, the Company entered into an Employment Agreement (the “Agreement”) with Fredrick Cutcher for his role as the Company’s Chief Executive Officer. Under the terms of the Agreement, Mr. Cutcher is to receive a base salary of $100,000 and $100,000 in Restricted Stock Units that vest at the end of the initial term of the Agreement. The Agreement has a term of one year and shall renew for successive one-year terms unless either party terminates the Agreement. The Agreement was effective as of May 17, 2023.
(iv)	As of June 30, 2023, the Company has not entered into a Board of Directors Service Agreement with Mr. Cutcher.