Note 7 - Related Party Transactions |
6 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Notes to Financial Statements | |
| Related Party Transactions Disclosure [Text Block] |
NOTE 7 - RELATED PARTY TRANSACTIONS
As of December 31, 2024, $1,183,923 ( June 30, 2024 - $1,108,708) was owed to the Company's executives for outstanding managements fees, consulting fees and business-related reimbursements and are without interest or stated terms of repayment.
During the six months ended December 31, 2024, the Company accrued salaries of $75,000 (2023 - $75,000) to the Company’s executives, recognized within related party payable.
On September 9, 2019, the Company entered into a technology and asset purchase agreement with a Company with management in common, refer to Note 4 for details. During the six months ended December 31, 2024, the Company recognized (2023 - $7,055) for license fees as part of the Asset Purchase Agreement.
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