RELATED PARTY TRANSACTIONS |
9 Months Ended |
|---|---|
Mar. 31, 2026 | |
| RELATED PARTY TRANSACTIONS | |
| RELATED PARTY TRANSACTIONS | 8. RELATED PARTY TRANSACTIONS
We have one executive officer, Steve Rubakh, who is currently our only full-time employee and sole member of our Board of Directors. The Board of Directors establishes Mr. Rubakh’s annual salary, cash bonuses, and the number of Series B preferred stock to issue Mr. Rubakh as additional compensation. Mr. Rubakh’s earns an annual salary at $250,000 and quarterly cash bonuses to be $100,000.
During the nine months ended March 31, 2026 and 2025, Mr. Rubakh’s annual salary was $250,000 ($62,500 quarterly). In addition, $100,000 of bonuses were approved by the Board of Directors.
Total compensation expense included in general and administrative expenses was $162,500 each for the three months ended March 31, 2026 and 2025, respectively and $487,500 each for the nine months ended March 31, 2026 and 2025. Amounts due to related party, consisting of accrued salary to Mr. Rubakh, totaled $558,002, and $209,419 as of March 31, 2026 and June 30, 2025, respectively. |