Revision of Previously Issued Financial Statements |
12 Months Ended |
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Jun. 30, 2026 | |
| Revision Of Previously Issued Financial Statements | |
| Revision of Previously Issued Financial Statements | NOTE 2A. Revision of Previously Issued Financial Statements
In connection with the preparation of the financial statements for the year ended June 30, 2026, the Company identified an error in its previously issued financial statements as of and for the year ended June 30, 2025. As previously reported, intangibles were $13,098,000, total non-current assets were $13,708,417, total assets were $13,708,469, additional paid in capital was $15,158,549, and total stockholders’ equity was $12,566,959. As revised, those amounts are $13,098,890, $13,709,307, $13,709,359, $15,159,439 and $12,567,849, respectively, in each case an increase of $890. In addition, other payable was increased by $35 to $41,835 and accounts payable was decreased by $35 to $1,099,675, with no change to total current liabilities. Total stockholders’ equity at June 30, 2024 has been revised from $12,632,560 to $12,633,450 for the same reason.
The Company evaluated the error in accordance with SEC Staff Accounting Bulletin No. 99 and SEC Staff Accounting Bulletin No. 108 and concluded that it was not material, individually or in the aggregate, to the previously issued financial statements. Accordingly, the comparative financial statements as of and for the year ended June 30, 2025 and the opening balances as of June 30, 2024 have been revised to correct the error. The revision had no effect on revenues, net loss, loss per share, or net cash flows for any period presented.
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