STOCKHOLDERS EQUITY (DEFICIT) |
6 Months Ended |
|---|---|
Dec. 31, 2025 | |
| STOCKHOLDERS EQUITY (DEFICIT) | |
| STOCKHOLDERS' EQUITY (DEFICIT) | NOTE 6 — STOCKHOLDERS’ EQUITY (DEFICIT)
The Company’s authorized capital consists of 85,000,000 shares, comprised of (i) 75,000,000 shares of common stock, par value $0.001 per share, and (ii) 10,000,000 shares of blank check preferred stock, par value $0.001 per share. No shares of preferred stock were issued or outstanding as of December 31, 2025, June 30, 2025 or June 30, 2024.
Transition period
In November 2025, the Company issued 300,000 shares of common stock, valued at $75,000, to Tekcapital, PLC for consulting services under a Strategic Alliance Agreement; the value of the shares was recorded as prepaid expense and is being amortized over the one-year service period. The valuation of shares was based on shares of common stock sold for cash as described below, as the Company’s stock is thinly traded and not considered an active market. Also during the quarter ended December 31, 2025, the Company issued 40,000 shares of common stock and received cash proceeds of $10,000 from an investor in a private placement offering. As of December 31, 2025, 21,663,312 shares of common stock were issued and outstanding. Shares issued after December 31, 2025 are described in Note 10.
Year ended June 30, 2025
During the period from January through April 2025, as compensation to members of its Advisory Board, the Company issued a total of 32,000 shares of common stock having an aggregate value of $8,000. During the period from March through June 2025, the Company issued a total of 270,000 shares of common stock to consultants as compensation in lieu of cash for services having an aggregate value of $67,500. Services for these shares were to be rendered over a one-year period. In February 2025, the Company issued 350,000 shares of common stock as partial consideration for the purchase of software, valued at $87,500, and issued 250,000 shares to its Chief Executive Officer pursuant to the terms of a promissory note related to a zero-interest loan made to the Company (see Note 8).
Year ended June 30, 2024
The Company issued 1,736,000 shares of common stock for services valued at $327,000 and 2,157,312 shares of common stock for cash proceeds of $519,297, which included the collection of $154,500 of subscriptions receivable outstanding at June 30, 2023. |