SUBSCRIPTION RECEIVABLE - AFFILIATES	12 Months Ended
Jun. 30, 2022
Subscription Receivable - Affiliates
SUBSCRIPTION RECEIVABLE - AFFILIATES	8. SUBSCRIPTION RECEIVABLE - AFFILIATES: As of June 30, 2022, the Company has three interest bearing, secured promissory notes with an aggregate principal amount of $428,250 ($504,650, including interest) from Bassani which were received as consideration for purchases of warrants to purchase 5,565,000 shares, in aggregate, of the Company’s restricted common stock, which warrants have an exercise price of $0.75 and have expiry dates ranging from December 31, 2024 to December 31, 2025. The promissory notes bear interest at 4% per annum and are secured by portions of Bassani Family Trust’s 2020 Convertible Obligation and Bassani Family Trust’s September 2015 Convertible Notes. The secured promissory notes are payable July 1, 2024. As of June 30, 2022, the Company has an interest bearing, secured promissory note for $30,000 ($34,688 including interest) from Smith as consideration to purchase warrants to purchase 300,000 shares of the Company’s restricted common stock, which warrants are exercisable at $0.60 and have expiry dates of December 31, 2024. The warrants have a 75% exercise bonus and the promissory note bears interest at 4% per annum, and is secured by $30,000 ($35,011, including interest) of Smith’s 2020 Convertible Obligations. The secured promissory note is payable on July 1, 2024. As of June 30, 2022 the Company has two interest bearing, secured promissory notes with an aggregate principal amount of $46,400 ($55,009 including interest) from two former employees as consideration to purchase warrants to purchase 928,000 shares of the Company’s restricted common stock, which warrants are exercisable at $0.75 and have expiry dates of December 31, 2024. These warrants have a 90% exercise bonus. The promissory notes bear interest at 4% per annum, are secured by a perfected security interest in the warrants, and are payable on July 1, 2024.

SUBSCRIPTION RECEIVABLE - AFFILIATES

12 Months Ended

Jun. 30, 2022

Subscription Receivable - Affiliates

8. SUBSCRIPTION RECEIVABLE - AFFILIATES:

As of June 30, 2022, the Company has three interest bearing, secured promissory notes with an aggregate principal amount of $428,250 ($504,650, including interest) from Bassani which were received as consideration for purchases of warrants to purchase 5,565,000 shares, in aggregate, of the Company’s restricted common stock, which warrants have an exercise price of $0.75 and have expiry dates ranging from December 31, 2024 to December 31, 2025. The promissory notes bear interest at 4% per annum and are secured by portions of Bassani Family Trust’s 2020 Convertible Obligation and Bassani Family Trust’s September 2015 Convertible Notes. The secured promissory notes are payable July 1, 2024.

As of June 30, 2022, the Company has an interest bearing, secured promissory note for $30,000 ($34,688 including interest) from Smith as consideration to purchase warrants to purchase 300,000 shares of the Company’s restricted common stock, which warrants are exercisable at $0.60 and have expiry dates of December 31, 2024. The warrants have a 75% exercise bonus and the promissory note bears interest at 4% per annum, and is secured by $30,000 ($35,011, including interest) of Smith’s 2020 Convertible Obligations. The secured promissory note is payable on July 1, 2024.

As of June 30, 2022 the Company has two interest bearing, secured promissory notes with an aggregate principal amount of $46,400 ($55,009 including interest) from two former employees as consideration to purchase warrants to purchase 928,000 shares of the Company’s restricted common stock, which warrants are exercisable at $0.75 and have expiry dates of December 31, 2024. These warrants have a 90% exercise bonus. The promissory notes bear interest at 4% per annum, are secured by a perfected security interest in the warrants, and are payable on July 1, 2024.