SUBSCRIPTION RECEIVABLE - AFFILIATES:	9 Months Ended
Mar. 31, 2024
Subscription Receivable - Affiliates
SUBSCRIPTION RECEIVABLE - AFFILIATES:	8. SUBSCRIPTION RECEIVABLE - AFFILIATES: As of March 31, 2024, the Company has three interest bearing, secured promissory notes with an aggregate principal amount of $428,250 ($530,412, 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 (with a 75% exercise price adjustment provision) and have expiry dates ranging from December 31, 2024 to December 31, 2025 (subject to extension rights) 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 March 31, 2024, the Company has an interest bearing, secured promissory note for $30,000 ($36,786 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 (with a 75% exercise price adjustment provision) and have expiry dates of December 31, 2024 (subject to extension rights) The promissory note bears interest at 4% per annum, and is secured by $30,000 original principal ($37,157 including interest) of Smith’s 2020 Convertible Obligations. The secured promissory note is payable on July 1, 2024. As of March 31, 2024, the Company has two interest bearing, secured promissory notes with an aggregate principal amount of $46,400 ($58,253 including interest) from two employee/consultants as consideration to acquire warrants to purchase 928,000 shares of the Company’s restricted common stock, which warrants are exercisable at $0.75 (with a 90% exercise price adjustment provision) and have expiry dates of December 31, 2024. (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. These secured promissory notes are recorded as “Subscription receivable—affiliates” on the Company’s balance sheet pending payment.

SUBSCRIPTION RECEIVABLE - AFFILIATES:

9 Months Ended

Mar. 31, 2024

Subscription Receivable - Affiliates

8. SUBSCRIPTION RECEIVABLE - AFFILIATES:

As of March 31, 2024, the Company has three interest bearing, secured promissory notes with an aggregate principal amount of $428,250 ($530,412, 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 (with a 75% exercise price adjustment provision) and have expiry dates ranging from December 31, 2024 to December 31, 2025 (subject to extension rights) 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 March 31, 2024, the Company has an interest bearing, secured promissory note for $30,000 ($36,786 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 (with a 75% exercise price adjustment provision) and have expiry dates of December 31, 2024 (subject to extension rights) The promissory note bears interest at 4% per annum, and is secured by $30,000 original principal ($37,157 including interest) of Smith’s 2020 Convertible Obligations. The secured promissory note is payable on July 1, 2024.

As of March 31, 2024, the Company has two interest bearing, secured promissory notes with an aggregate principal amount of $46,400 ($58,253 including interest) from two employee/consultants as consideration to acquire warrants to purchase 928,000 shares of the Company’s restricted common stock, which warrants are exercisable at $0.75 (with a 90% exercise price adjustment provision) and have expiry dates of December 31, 2024. (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.

These secured promissory notes are recorded as “Subscription receivable—affiliates” on the Company’s balance sheet pending payment.