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SUBSEQUENT EVENTS
6 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS

 

In accordance with ASC 855, Subsequent Events, the Company has evaluated events and transactions subsequent to December 31, 2024 through the date these condensed consolidated financial statements were issued. Other than the below, there are no subsequent events identified that would require disclosure in these condensed consolidated financial statements.

 

Film Rights Sale

 

Subsequent to December 31, 2024, the Company collected the remaining $6.6 million of accounts receivable related to film sale that occurred during the three months ended December 31, 2024.

 

Debt Payments

 

Payments on various notes payable of approximately $6.2 million were repaid subsequent to December 31, 2024.

 

Debt Issuance

 

Subsequent to December 31, 2024, the Company issued approximately $3.0 million of notes payable bearing interest at rates of 10% to 15%.

 

Litigation

 

During June of 2025, the Company received an OSHA complaint which was made against one of our wholly owned subsidiaries (i.e. “The Nutcracker”). The Company does not believe that there is any merit to the claim. Further, an estimate of the possible loss cannot be made at this time.