v3.25.1
Subsequent Events
12 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events

 

16. Subsequent Events

 

On July 10, 2024, the Company entered into a promissory note with 1800 Diagonal Lending, LLC for $87,975. The promissory note includes a one-time interest charge of 14%, which was applied on the issuance date, and matures on May 15, 2025. There are 4 monthly payments of $10,029 and one payment of $60,175 for a total payback of $100,291.

 

On July 18, 2024, the Company executed a cash advance agreement with Cali Flower Capital Inc. with a total advance of $200,00 and payback of $299,800.

 

On July 25, 2024, the Company executed a revenue purchase agreement with 24 Capital with a total advance of $125,000 and payback of $187,375.

 

On July 29, 2024, the Company executed a revenue purchase agreement with Tycoon Capital Group with a total advance of $125,000 and payback of $187,375.

 

On August 12, 2024, the Company entered into an Exclusive Master Distribution Agreement (the “Agreement”) with Applied Technologies of NY, Inc. (“ATI”). The Agreement establishes the sales goals of 50 commercial heat pumps and 25 residential heat pumps in the first 18 months followed by a total of 600 heat pumps (combined commercial and residential heat pumps) in the following 12-month period.

 

On August 15, 2024, the Company signed a lease for 5,650 square feet of manufacturing and office space in Portland, Oregon related to the deposition technology business. The base monthly lease cost is $5,254 per month and expires on April 30, 2027.

 

On August 19, 2024, the Company acquired Grand Entrances for the consideration of $100 in cash, including its current liabilities and assuming its lease, which includes a monthly lease cost of $10,291 and expires on April 11, 2030.

 

On August 23, 2024, the Company executed a revenue purchase agreement with Quick Funding with a total advance of $170,000 and payback of $254,150.

 

On September 20, 2024, the Company executed a revenue purchase agreement with QFS Capital, LLC with a total advance of up to $1,573,781 and payback of $2,359,097.

 

On October 11, 2024, Vince Monteparte resigned as a member of the Company’s Board of Directors.

 

On October 12, 2024, Assurance Dimensions resigned as the Company’s auditor.

 

On October 15, 2024, Heather McMahon resigned as member of the Company’s Board of Directors.

 

On October 18, 2024, the Company engaged CM3 Advisory as its new auditor for the fiscal year ended June 30, 2024.

 

On October 23, 2024, the Company nominated Roger Campos as a member of the Company’s Board of Directors.

 

On January 15, 2025, the Company’s OTC Markets status changed to the “Expert Market” on OTCMarkets.com. 

 

On February 25, 2025, executed a Loan and Security Agreement (“Loan”) with Nautilus Funding Solutions, LLC – Series XIII for up to $1,500,000. The Loan is collateralized by the Companies accounts receivable with the borrowing rate of 80% of the estimated accounts receivable. The initial term of the loan is for 12 months, carries an Expense Deposit of 2% of any new funds advances and is personally guaranteed by the CEO of the Company.