RELATED PARTY TRANSACTIONS |
9 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 7. RELATED PARTY TRANSACTIONS
Related Party Share Issuance/Transfers
During the three-month period ended March 31, 2025, AtlasFinTech transferred some of its shares to Tau Investment Partners LLC (“Tau”) to provide the Company with funding as the Company no longer had registered shares available. The value of the shares resulted in $177,334 of value contributed to the Company. As a result, the board approved the issuance of shares to remunerate AtlasFinTech, resulting in a net zero impact to the Company.
ATLASCLEAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2026 (Unaudited)
Advances from Related Parties
On May 9, 2024, Quantum Ventures, a related party, transferred shares of Common Stock to pay for $47,750 of interest in connection with the Short-Term Notes (as defined in Note 9 below). The Company agreed to reimburse Quantum Ventures for the value of the shares plus 13% interest; as such a payable of $55,087 is due and payable to Quantum Ventures.
As of March 31, 2026, amounts due to the Executive Chairman is $20,000.
As of March 31, 2026, amounts due to the President is $27,300.
As of March 31, 2026, $10,978 is due in payable to employees of Wilson-Davis.
On July 17, 2025, the Company issued shares of Common Stock to Sandip I. Patel, P.A., a law firm that is wholly owned by Sandip I. Patel, the Company’s General Counsel, Chief Financial Officer and a member of the Company’s board of directors, as consideration for legal and consulting services provided to the Company prior to his employment. The shares were valued based on the closing price of the date of issuance of $ for a total value of $169,920.
Note Financing
In September 2025, the Company entered into the September-Securities Purchase Agreements, as defined and described in Note 9 below. $1,050,000 and $1,000,000, respectively, of the aggregate principal amount of the Convertible Notes sold pursuant to the September-Securities Purchase Agreements were sold to Sixth Borough Capital Fund, LP, an entity controlled by Robert D. Keyser, Jr., who is a member of the Company’s board of directors, and to Sandip Patel, the Company’s General Counsel, Chief Financial Officer and a member of the Company’s board of directors.
On October 8, 2025 the Company repaid to Sandip Patel $1,200,000 in cash and to Sixth Borough Capital Fund, LP, $640,000 in cash and $500,000 through the issuance of Units sold pursuant to the Equity SPA. As such, as of March 31, 2026, no amounts are due under the Convertible Notes sold pursuant to the September Securities Purchase agreement held by Sandip Patel and Sixth Borough Capital Fund, LP.
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