INTANGIBLE ASSETS |
12 Months Ended |
|---|---|
Jun. 30, 2026 | |
| INTANGIBLE ASSETS | |
| INTANGIBLE ASSETS | NOTE 3 INTANGIBLE ASSETS
On July 15, 2021, the Company acquired the assets of Paleo Scavenger, LLC (Paleo) for $10,000. Paleo owns the Within / Without Granola (“WWG”) brand. The purchase price includes the WWG trademarks, brands, books, records, intellectual property, commercial sales channel, customer lists and manufacturing rights.
The fair value of the Intangible assets of $9,000 for the commercial sales channel, customer list and other intangible assets was calculated using the net present value of the projected gross profit to be generated over the next 36 months beginning on July 15, 2021 with quarterly amortization of $750. The WWG Trademark for $1,000 was deemed to have an indefinite life and will be evaluated for impairment on an annual basis. The intangible assets for $9,000 were fully amortized at September 30, 2024. |