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Subsequent Events
9 Months Ended
Mar. 31, 2024
Subsequent Events  
Subsequent Events

Note 18. Subsequent Events

 

On April 1, 2024, the Company entered into a lease agreement with MFA 2510 Merchant LLC. The lease is a for approximately 10,000 square feet of warehouse and office space, located in Odessa, Florida, for $20,060 per month on a triple net basis.  The initial term is five years.  MFA 2510 Merchant LLC is owned by the Chief Executive Officer Allan Marshall.     

 

On May 28, 2024, the Company entered into an agreement to sell its Clearwater warehouse for a sale price of 4,300,000. The Company expects to receive approximately $1,350,000 after repayment of the mortgage and transaction expenses. The $1,350,000 will be used for working capital and the repayment of other outstanding debts.  The transaction is expected to close on or around July 8, 2024.