ACCRUED OFFICER AND DIRECTOR COMPENSATION

9 Months Ended

Mar. 31, 2022

Accrued Officer And Director Compensation

ACCRUED OFFICER AND DIRECTOR COMPENSATION

NOTE G – ACCRUED OFFICER AND DIRECTOR COMPENSATION

Accrued officer and director compensation is due to Jimmy Wayne Anderson, the sole officer and director of the Company, and consists of:

	March 31, 2022		June 30, 2021
Pursuant to January 26, 2018 Board of Directors Service Agreement	$	-	$	-
Total	$	-	$	-

For the nine months ended March 31, 2022 and year ended June 30, 2021, the balance of accrued officer and director compensation changed as follows:

	Pursuant to Employment Agreements		Pursuant to Board of Directors Services Agreements			Total
Balances at June 30, 2021	-		-			-
Officer’s/director’s compensation for the nine months ended March 31, 2022		-		60,000			60,000
Cash bonus as per new agreement (ii)				50,000			50,000
Cash compensation				(110,000	)		(110,000	)
Balances at March 31, 2022	$	-	$	-		$	-

(i)

As of March 31, 2022 and June 30, 2021, total shares of common stock accrued as “Stock to be Issued” to Mr. Anderson as per the terms of the Board of Director’s Services Agreement is 0 and 84,803, respectively.

(ii)

On July 1, 2021, the Company executed a new Board of Directors Service Agreement with Jimmy Wayne Anderson. Under the terms of the Agreement, Mr. Anderson shall receive a one-time bonus payment of Fifty Thousand and no/100 dollars ($50,000.00) upon execution of the Agreement, and Twenty Thousand and no/100 dollars ($20,000.00) paid to Mr. Anderson on the last calendar day of each quarter as long as Mr. Anderson continues to fulfill his duties and provide the services set forth above. The compensation of $20,000 per quarter shall commence with the third calendar quarter of 2021 (first fiscal quarter of 2022).