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ACCRUED INTEREST PAYABLE
 9 Months Ended
Mar. 31, 2026
ACCRUED INTEREST PAYABLE  
ACCRUED INTEREST PAYABLE

NOTE 4: ACCRUED INTEREST PAYABLE

 

Changes in accrued interest payable during the nine months ended March 31, 2026 is as follows:

 

Accrued interest payable at June 30, 2025

 

$418,044

 

Conversion of accrued interest into common stock

 

 

(139,636 )

Interest expense paid in cash

 

 

(28,579 )

Interest expense accrued for the nine months ended March 31, 2026

 

 

242,577

 

Write off of accrued interest payable

 

 

-

 

Accrued interest payable at March 31, 2026

 

$492,406

 

 

At March 31, 2026, accrued interest payable included amounts related to notes currently in default, some of which bear punitive interest rates ranging up to 22% per annum. As of the period end, the Company has not accrued for additional liquidated damages beyond the stated interest, though such penalties may be pursued by holders under the default provisions.