v3.25.1
Investment Income
 9 Months Ended
Mar. 31, 2025
Investment Income [Abstract]  
INVESTMENT INCOME
8.INVESTMENT INCOME

 

The following table summarizes our investment income.

 

   Nine Months
Ended
March 31,
2025		   Nine Months
Ended
March 31,
2024		 
Interest earned on cash (NOTE 2)  $963,243   $100,236 
Interest earned on Treasury Bills (NOTE 2)   348,742    1,070,264 
Interest earned on Certificates of Deposit [1]   
-
    123,881 
Interest earned on TECO bond (NOTE 7)   
-
    171,573 
Dividends and other   4,997    14,958 
Total investment income  $1,316,982   $1,480,912 

 

[1]On September 12, 2023, the Company invested in a $5,000,000 certificate of deposit (CD), which matured on March 12, 2024. CDs should be reported as part of cash and cash equivalents at cost plus accrued interest if less than 90 days from the purchase date, and on its own line in the financial statements if the purchase is greater than 90 days. The CD has been classified as a short-term investment due to the length of time to maturity at acquisition and was measured using Level 1. The CD was reinvested upon maturity. The Company recognized interest income of $123,881 which was reported in the Company’s financial statements as of March 31, 2024.