v3.26.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Jun. 30, 2026
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
Schedule of activity for company's derivatives

Derivative liability at June 30, 2024

 

$41,566

 

Initial recognition of derivative liabilities (recorded as debt discount)

 

 

-

 

Gain on change in fair value of derivative liability

 

 

(33,761)

Derivative liability at June 30, 2025

 

$7,805

 

Initial recognition of derivative liabilities (recorded as debt discount)

 

 

263,586

 

Gain on change in fair value of derivative liability

 

 

(271,391)

Derivative liability at June 30, 2026

 

$-

 
Schedule of weighted average shares

 

 

For the Years ended June 30,

 

 

 

2026

 

 

2025

 

Weighted average common shares outstanding

 

 

595,814,174

 

 

 

266,703,555

 

Effect of dilutive securities - when applicable:

 

 

 

 

 

 

 

 

Convertible promissory note

 

 

1,783

 

 

 

35,146,649

 

Preferred stock converted to common stock

 

 

49,527,874

 

 

 

20,630,691

 

Common stock options

 

 

-

 

 

 

2,222

 

Warrants

 

 

-

 

 

 

5,112,426

 

Weighted-average shares plus potential common shares (informational; not an EPS denominator)

 

 

645,343,831

 

 

 

327,595,543

 
Schedule of basic and diluted loss per share

Component

 

Income (Numerator)

 

 

Shares (Denominator)

 

Basic earnings per share computation: net income attributable to common stockholders / weighted-average common shares

 

$847,195

 

 

 

595,814,174

 

Effect of dilutive securities, in sequence from most to least dilutive:

 

 

 

 

 

 

 

 

Series A and Series B Convertible Preferred Stock (if-converted; no income adjustment)

 

 

-

 

 

 

20,630,690

 

Series AA Convertible Preferred Stock (if-converted; no income adjustment)

 

 

-

 

 

 

4

 

Series D Convertible Preferred Stock (if-converted; add back undeclared dividends; weighted for the75 days outstanding from April

16, 2026 to June 30, 2026; excluded because anti-dilutive)

 

 

-

 

 

 

(5,937,777 excluded as anti-dilutive

) 

Diluted earnings per share computation before evaluating convertible notes payable

 

$847,195

 

 

 

616,444,868

 

Convertible notes payable (if-converted; add back related interest expense; excluded because anti-dilutive; see Note 4)

 

$-

 

 

 

 

 

(1,783 excluded as anti-dilutive

) 

Diluted earnings per share computation: net income (as adjusted) / diluted weighted-average common shares

 

$847,195

 

 

 

616,444,868