v3.26.1
Directors’ Fees
12 Months Ended
Dec. 31, 2025
Compensation Related Costs [Abstract]  
Directors’ Fees

Note 8. Directors’ Fees

Each Independent Director receives (i) an annual fee of $75,000, and (ii) $2,500 plus reimbursement of reasonable out-of-pocket expenses incurred in connection with attending in person or telephonically each regular board of directors meeting and each special telephonic meeting. Each Independent Director also receives $1,000 plus reimbursement of reasonable out-of-pocket expenses incurred in connection with each committee meeting attended in person and each telephonic committee meeting. The chairperson of the audit committee receives an additional annual fee of $7,500. The chairperson(s) of the valuation committee, the nominating and corporate governance committee and the compensation committee receives an additional annual fee of $2,500, $2,500 and $2,500, respectively. The Company has obtained directors’ and officers’ liability insurance on behalf of the Company’s directors and officers. For the periods ended December 31, 2025, December 31, 2024, June 30, 2024, and June 30, 2023, the Company recorded directors’ fees of $307,500, $175,852, $294,907, and $302,500 respectively. As of December 31, 2025, December 31, 2024, and June 30, 2024 the Company recorded directors’ fees payable of $0, $81,323, and $0 respectively.