v3.26.3
DIVESTITURES, BUSINESS WIND DOWNS, DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES OF DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
SCHEDULE OF DISCONTINUED OPERATIONS

Following are the details of the aforementioned subsidiaries divestiture/wind downs reported as assets/liabilities of discontinued operations on the consolidated balance sheets as of June 30, 2026 and 2025.

 

   Lenses   S5D   Total 
   As of June 30, 2026 
   Lenses   S5D   Total 
             
ASSETS               
Accounts receivable  $7,350   $61,191   $68,541 
Deferred costs   -    23,754    23,754 
Prepaid expenses and other current assets   -    8,622    8,622 
Current assets of discontinued operations  $7,350   $93,567   $100,917 
                
Right-of-use assets, net  $-   $4,557   $4,557 
Other assets 

-  

1,000  

1,000 
Non-current assets of discontinued operations  $-   $5,557   $5,557 
                
LIABILITIES               
Accounts payable  $87   $15,117   $15,204 
Accrued liabilities   28,331    27,837    56,168 
Deferred revenue   -    155,500    155,500 
Lease liabilities, current portion   -    4,704    4,704 
Other current liabilities of discontinued operations  $28,418   $203,158   $231,576 

 

 

   Learning   Lenses   S5D   Total 
   As of June 30, 2025 
   Learning   Lenses   S5D   Total 
                 
ASSETS                    
Accounts receivable  $237,102   $385,010   $218,439   $840,551 
Deferred costs   (270)   7,088    -    6,818 
Prepaid expenses and other current assets   61,493    376    74,921    136,790 
Current assets of discontinued operations  $

298,325

   $392,474   $293,360   $984,159 
                     
Equipment and leasehold improvements, net 

$

-  

$

-  

$

15,077  

$

15,077 
Right-of-use assets, net   -    -    14,791    14,791 
Intangible assets, net   36,270    -    -    36,270 
Goodwill   300,000    -    -    300,000 
Other assets   -    -    1,000    1,000 
Non-current assets of discontinued operations  $

336,270

   $-   $30,868   $367,138 
LIABILITIES                    
Accounts payable  $30,940   $115,970   $38,417   $185,327 
Accrued liabilities   11,066    214,129    55,517    280,712 
Deferred revenue   -    7,875    44,701    52,576 
Lease liabilities, current portion   -    -    10,405    10,405 
Other current liabilities of discontinued operations  $

42,006

   $337,974   $149,040   $529,020 
                     
Long term liabilities                    
Lease liabilities, net of current portion  $-   $-   $4,704   $4,704 
Long term liabilities of discontinued operations  $-   $-   $4,704   $4,704 

 

Following are the details of the aforementioned subsidiaries divestiture/wind downs reported as discontinued operations on the consolidated statements of operations for the years ended June 30, 2026 and 2025.

 

   Learning   Lenses   S5D   Total 
   For the Years ended June 30 2026 
   Learning   Lenses   S5D   Total 
                 
Total revenue  $1,035,352   $951,689   $1,349,196   $3,336,237 
Cost of goods sold   291,171    159,498    482,909    933,578 
Gross profit   744,181    792,191    866,287    2,402,659 
                     
Operating expenses (including allocated corporate overhead):                    
Research and development expenses   633,492    692,482    546,475    1,872,449 
General and administrative expenses (net of (gain) on sale of business)   301,584    252,198    310,267    864,049 
Sales and marketing expenses   292,388    95,860    150,595    538,843 
Amortization of acquisition intangible assets   36,271    -    -    36,271 
Goodwill impairment   300,000    -    -    300,000 
Total operating expenses   1,563,735    1,040,540    1,007,337    3,611,612 
                     
Loss from discontinued operations  $(819,554)  $(248,349)  $(141,050)  $(1,208,953)

 

 

   Learning   Lenses   S5D   Total 
   For the Years ended June 30, 2025 
   Learning   Lenses   S5D   Total 
                 
Total revenue  $1,115,464   $2,337,044   $1,808,731   $5,261,239 
Cost of goods sold   178,461    405,665    768,490    1,352,616 
Gross profit   937,003    1,931,379    1,040,241    3,908,623 
                     
Operating expenses (including allocated corporate overhead):                    
Research and development expenses   676,751    987,593    726,383    2,390,727 
General and administrative expenses  (net of loss on sale of business)   375,774    684,550    555,796    1,616,120 
Sales and marketing expenses   538,223    370,656    226,045    1,134,924 
Amortization of acquisition intangible assets   133,817    -    -    133,817 
Change in fair value of acquisition contingent consideration   (35,714)   -    -    (35,714)
Total operating expenses   1,688,851    2,042,799    1,508,224    5,239,874 
                     
Loss from discontinued operations  $(751,848)  $(111,420)  $(467,983)  $(1,331,251)