Derivative Liability |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Liability | Note 5 – Derivative Liability
In December 2025 and January 2026, the Company issued convertible notes payable whose conversion options are being accounted for as a derivative liability pursuant to ASC 815, Derivatives and Hedging (see Note 4). The derivative liability is remeasured to fair value at each reporting period, and the change in the fair value is recognized in earnings in the accompanying statements of operations. The Company estimated the fair value of the conversion option derivative liability using a variable option pricing model.
The following table provides a roll-forward of the derivative liability measured at fair value on a recurring basis using unobservable Level 3 inputs for the period ended September 30, 2026, as follows:
The following are the average inputs used by the Company in the valuation of the derivative liability:
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