Subsequent Events |
9 Months Ended | ||
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Mar. 31, 2024 | |||
Subsequent Events [Abstract] | |||
Subsequent Events |
On April 2, 2024, the Company issued 125,000 shares of common stock as part of the consideration for the acquisition of Watson RX Solution, Inc.
On April 2 and April 16, 2024, the Company issued a total of 666,669 shares of common stock as part of the consideration for the acquisition of DepTec.
On April 5, 2024, Genefic Specialty Rx, Inc. executed a loan and security agreement whereby Genefic Specialty Rx, Inc. can borrow 80% of the estimated accounts receivable at 2% interest per month for up to a maximum draw down of $2,300,000. On April 5, 2024, Genefic Specialty Rx, Inc. drew a total of $800,000 on the loan.
On April 9, 2024, the Company executed a Promissory Note for $172,500, which includes an original issue discount of $22,500 and $6,000 in closing expenses. The Promissory Note carries an interest rate of 14% per annum and a 10-month term.
On April 29, 2024, the Company executed a revenue purchase agreement for $600,000, which includes a $6,000 underwriting fee, $6,000 origination fee and $50 wire fee. The term of the agreement is 42 weeks and includes a total payback of $798,025.
On May 7, 2024 (“Purchase Date”), the Company’s subsidiary, Genefic Infusion RX, Inc., executed a Membership Purchase Agreement to acquire 100% of IV Services, LLC (“IV Services”) with a purchase price of $500,000 plus the cost of inventory as of the Purchase Date. IV Services is a pharmacy business which provides goods and services, including home infusion services in the parishes of Orleans, Jefferson, St. Bernard, Plaquemines, St. Tammany, St. Charles, St. John the Baptist, Iberville and Pointe Coupe, Louisiana. IV Services holds pharmacy license in both Louisiana and Mississippi. The Company will not assume any liabilities as of the Purchase Date.
On May 16, 2024, the Company entered into a promissory note with 1800 Diagonal Lending, LLC for $106,500. The promissory note includes a one-time interest charge of 14%, which was applied on the issuance date, and matures on March 30, 2025. There are 10 monthly payments in the amount of $17,146 for a total payback of $122,475.
On July 10, 2024, the Company entered into a promissory note with 1800 Diagonal Lending, LLC for $76,500. 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 10 monthly payments in the amount of $12,316 for a total payback of $87,975.
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.
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