Discontinued Operations Sale of Infusionz to Bloomios (Tables)
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12 Months Ended |
Jun. 30, 2024 |
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| Discontinued Operations Sale of Infusionz to Bloomios |
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| Schedule of inventory or working capital |
Tangible assets, inventory / working capital* | | $ | (1,344,000 | ) | Tangible assets, warehouse and manufacturing equipment, net of accumulated depreciation* | | | (679,327 | ) | Goodwill | | | (2,413,814 | ) | Intangible assets, net of accumulated amortization | | | (946,996 | ) | Accrued and incurred expenses related to the transaction and additional working capital* | | | (2,051,500 | ) | Consideration received, including cash, debt and equity, net | | | 15,000,000 | | Total gain recognized | | $ | 7,564,363 | |
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| Schedule of due from Bloomios |
Advance for payroll | | $ | 50,000 | | Operating expense | | | 652,891 | | Management fees | | | 685,600 | | Excess working capital | | | 388,565 | | Accrued Interest | | | 247,885 | | Subtotal due from Bloomios | | $ | 2,024,941 | | Reserve | | | 1,179,498 | | Total due from Bloomios | | $ | 845,443 | |
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| Schedule Of Discontinued Operations |
| | Years ended June 30, | | | | 2024 | | | 2023 | | Discontinued Operations | | | | | | | Revenue | | $ | - | | | $ | 3,042,878 | | Cost of sales | | $ | - | | | $ | 1,803,643 | | Sales, general and administrative expenses | | $ | (71,976 | ) | | $ | 1,300,102 | | Depreciation and amortization | | $ | | | | $ | 10,576 | | Income (loss) from discontinued operations, net of tax | | $ | 71,976 | | | $ | (338,418 | ) |
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| Schedule Of Investments - Bloomios |
Senior secured convertible debenture, net of unamortized original issue discount | | $ | 5,218,209 | | Series D convertible preferred stock | | | 8,500,000 | | Convertible Secured Subordinate Promissory Note | | | 5,000,000 | | Reserve on Investments - Bloomios | | | (18,718,209 | ) | Total Investments - Bloomios | | $ | - | |
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