Note 4 - Related Party Transactions

9 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 4. RELATED PARTY TRANSACTIONS

During the nine months ended March 31, 2024, the Company continued to be a party to a service agreement (the “Service Agreement”) with Fields Management, Inc. (“FMI”), pursuant to which FMI provided certain executive management services to the Company, including designating Randall K. Fields to perform the functions of President and Chief Executive Officer for the Company. Mr. Fields, FMI’s designated executive, who also serves as the Company’s Chair of the Board of Directors, controls FMI. The Company had no payables to FMI under the Service Agreement as of March 31, 2024 or June 30, 2023. During the nine months ended March 31, 2024 and 2023, the Company paid FMI $727,352 and $693,045, respectively, in connection with the Service Agreement.

During the nine months ended March 31, 2024, the Company, the Company redeemed and retired $1,499,990 in Series B-1 Preferred from Mr. Randall K. Fields, affiliates of Mr. Fields, and Robert W. Allen. Mr. Allen is a director of the Company.