NOTES PAYABLE- UNRELATED THIRD PARTIES |
9 Months Ended |
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Mar. 31, 2025 | |
NOTES PAYABLE- UNRELATED THIRD PARTIES | |
NOTES PAYABLE- UNRELATED THIRD PARTIES | NOTE 13. NOTES PAYABLE- UNRELATED THIRD PARTIES
Unrelated parties note payable consists of convertible and non-convertible notes payable with a principal balance on March 31, 2025, and June 30, 2024, of $396,447 and $134,375, respectively and accrued interest on March 31, 2025, and June 30, 2024, of $12,388 and $4,961, respectively.
These notes do not require regular monthly payments, but rather they are to be settled by the maturity date if not converted.
Convertible Note Payable - Unrelated Parties
On March 24, 2023, the Company issued to a private investor, a $50,000 Convertible Promissory Note (“Note”), with an interest rate of 5% per annum, convertible at $0.50 per share at the lender’s discretion. The Note’s maturity date was June 30, 2023. As a further inducement, the Company issued a warrant to purchase 100,000 restricted common stock shares, exercisable at $0.75 per share any time prior to March 24, 2026, the warrant expiration date. On the maturity date of the note, Holder opted to convert for the issuance of 100,000 restricted shares of common stock. The warrant was redeemed through a cashless redemption on March 27, 2025, into 45,000 restricted common stock shares and was retired. The principal balance on March 31, 2025, and June 30, 2024, was $0 and $50,000 respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $0 and $35, respectively. On May 15, 2023, the Company issued a private investor a $19,375 Convertible Promissory Note (“Note”), with an interest rate of 5% per annum, convertible at $0.50 per share at the lender’s discretion. The Note’s maturity date was June 30, 2023. As a further inducement, the Company issued a warrant to purchase 38,750 restricted common stock shares exercisable at $0.75 per share any time prior to May 15, 2026, the warrant expiration date. On the maturity date the note holder opted to convert for the issuance of 38,750 restricted common stock shares. The warrant was through a cashless redemption redeemed on March 27, 2025, into 17,438 restricted common stock shares and was retired. The principal balance on March 31, 2025, and June 30, 2024, was $0 and $19,375 respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $0 and $1,115, respectively.
On September 25, 2023, the Company issued a private investor a $20,000 180-day Senior Secured Convertible Promissory Note (“Note”), with an interest rate of 10% per annum, convertible at $0.50 per share at the lender’s discretion. The Note’s maturity date is March 23, 2024. As further inducement, the Company agreed to issue 20,000 restricted common stock shares and issued a warrant to purchase 40,000 restricted common stock shares exercisable at $0.75 per share, any time prior to September 25, 2026, the warrant expiration date. On January 1, 2025, the company issued 20,000 restricted common stock shares which were obligated to issue as inducement in the note agreement. The warrant was redeemed through a cashless redemption on March 27, 2025, into 18,000 shares of the Company’s restricted common stock and was retired. The principal balance on March 31, 2025, and June 30, 2024, was $20,000 and $20,000 respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $0 and $1,507, respectively.
On September 29, 2023, the Company issued a private investor a $25,000 180-day Senior Secured Convertible Promissory Note, with an interest rate of 10%, convertible at $0.50 per share the lender’s discretion. The Note’s maturity date was March 27, 2024. As further inducement, the Company agreed to issue 25,000 restricted common stock shares and a warrant to purchase 50,000 restricted common stock shares, exercisable at $0.75 per share, any time prior to October 2, 2026, the warrant expiration date. On April 2, 2024, the note was extended for 180 days, and as inducement for extension, the Company agreed to issue 25,000 shares of restricted common stock and a warrant to purchase 50,000 restricted common stock shares, exercisable at $0.75 per share, any time prior to April 2, 2027. On October 4, 2024, the note was extended again for 180 days, and as inducement for extension, the Company agreed to issue 25,000 shares of restricted common stock and a warrant to purchase 50,000 shares of restricted common stock, exercisable at $1.50 per share, any time prior to October 4, 2027. On January 1, 2025, the Company issued 75,000 restricted common stock shares which were obligated to issue as inducement in the note agreement. Further All three warrants were redeemed through a cashless redemption on March 27, 2025, into 57,500 shares of the Company’s restricted common stock and were retired. The principal balance on March 31, 2025, and June 30, 2024, was $25,000 and $25,000 respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $1,907 and $1,875, respectively.
On March 12, 2024, the Company issued a private investor a $10,000 180-day Secured Convertible Promissory Note, with an interest rate of 10% per annum, convertible at $0.50 per share at the lender’s discretion. The Note’s maturity date is August 21, 2024. As further inducement, the Company agreed to issue 20,000 restricted common stock shares. On January 1, 2025, the company issued 20,000 restricted common stock shares which it was obligated to issue as inducement in the note agreement. In addition, the holder opted to convert the note for 20,000 restricted shares of common stock. The principal balance on March 31, 2025, and June 30, 2024, was $0 and $10,000 respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $2,959 and $304, respectively.
On May 23, 2024, the Company issued to a private investor a $10,000 90-day Secured Convertible Promissory Note bearing an interest rate of 10%, convertible at $0.50 per share at the lender’s discretion. The Note’s maturity date is August 21, 2024. On September 30, 2024, the Company entered into a debt conversion agreement with the investor, but the shares were not issued. The note holder agreed to pause the accrual of interest after the maturity date. The Company agreed with the note holder that the debt would cease incurring interest after its maturity date. As further inducement, the Company agreed to issue 30,000 restricted common stock shares, which shares were issued on January 1, 2025. The principal balance owed at March 31, 2025, and June 30, 2024, was $10,000. The note’s accrued interest at March 31, 2025, and June 30, 2024, were $1,228 and $125, respectively.
On July 1, 2024, the Company issued a $5,000 180-day Secured Convertible Promissory Note to a private investor, which note bears an interest rate of 10% and conversion rights to convert the outstanding loan balance at $0.50 per share at the lender’s discretion. The Note’s maturity date is December 31, 2024. As a further inducement to purchase this Note, the Company agreed with Investor to issue 5,000 restricted common stock shares and a warrant to purchase 10,000 common stock shares exercisable at $0.75 at any point prior to June 30, 2027. On the maturity date, the note amount including interest of $250 was extended to June 30, 2025. As an inducement to extend this Note, the company agreed with Investor to issue 5,250 restricted common stock shares and a warrant to purchase 10,500 common stock shares exercisable at $0.75 at any point prior to December 31, 2027. The warrants were redeemed through a cashless redemption on March 27, 2025, into 13,725 restricted common stock shares and were retired. The principal balance on March 31, 2025, and June 30, 2024, was $5,250 and $0 respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $123 and $0 respectively.
On July 1, 2024, the Company issued to a private investor a $36,624 180-day Secured Convertible Promissory Note bearing an interest rate of 10% per annum, which may be converted at $0.50 per share at the lender’s discretion. The Note’s maturity date is March 31, 2025. As further inducement to purchase this Note, the Company agreed to issue 36,624 restricted common stock shares and a warrant to purchase 73,248 shares of common stock exercisable at $0.75 per share, prior to June 30, 2027. The company issued 36,624 shares restricted common stock on January 1, 2025. This note was renewed on January 10, 2025, and the investor advanced another $15,000, so together with accrued interest the new face was $52,529 and is due March 31, 2025. In addition, as further inducement to renew the note, the Company agreed to issue 52,529 restricted common stock shares and a warrant to purchase 107,238 common stock shares exercisable at $0.75 per share, prior to January 10, 2028. The warrants were redeemed through a cashless redemption on March 27, 2025, into 107,502 restricted common stock shares and was retired. The principal balance on March 31, 2025, and June 30, 2024, was $52,529 and $0 respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $2,099 and $0 respectively.
Note Payable-Unrelated Parties
On January 9, 2025, the Company issued to a private investor a $10,000 90-day Senior Secured Convertible Promissory Note bearing an inters rate of 10% per annum, which may be converted at $0.50 per share at the lender’s discretion. The Note’s maturity date is April 9, 2025. As further inducement to purchase this Note, the Company agreed to issue 10,000 restricted shares of the Company’s common stock and a warrant to purchase 20,000 shares of common stock exercisable at $0.50 per share, prior to January 9, 2028. The principal balance on March 31, 2025, and June 30, 2024, was $10,000 and $0, respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $222 and $0, respectively.
On March 5, 2025, the Company issued to the seller of the Orofino facility a $267,555 Secured Promissory Note, secured by a Deed of Trust on the Orofino facility, bearing and interest rate of 8% per annum, and a maturity date of May 15, 2025. The principal balance of March 31, 2025, and June 30, 2024, was $267,555 and $0 respectively and the accrued interest on March 31, 2025, and June 30, 2024, was $1,546 and $0, respectively. |