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Subsequent Events
6 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events

NOTE N – Subsequent Events

 

The Company has evaluated subsequent events through the date these financial statements were issued and has identified the following material event requiring disclosure:

 

On November 22, 2024, the Company entered into an Executive Employment Agreement (the “Agreement”) with Wyatt Flippen, appointing him as the Company’s Chief Executive Officer. Under the terms of the Agreement, Mr. Flippen will receive an annual salary of $102,000, along with any performance-based bonuses as approved by the Board of Directors.

 

Additionally, as part of his executive compensation package, Mr. Flippen is entitled to receive $125,000 worth of Series N Preferred shares of the Company’s stock. While these shares have not yet been issued, the Company has accounted for this planned issuance in its fiscal third-quarter financial reporting.