v3.25.4
NOTES PAYABLE
 12 Months Ended
Jun. 30, 2025
NOTES PAYABLE  
NOTES PAYABLE

NOTE 7. NOTES PAYABLE

 

As of June 30, 2025 and 2024, the Company had $330,871 and $263,931, respectively, in outstanding notes payable, as follows:

 

 

 

 

Date of

 

Original 

 

 

 

 

 

Principal Balance as of

 

 

 

 

 Note

 

Principal

 

 

Maturity

 

Interest

 

 

June 30,

 

 

June 30,

 

Ref No.

 

 

Issuance

 

Balance

 

 

Date

 

Rate (%)

 

 

2025

 

 

2024

 

 

1

 

 

9/16/06

 

 

100,000

 

 

**

 

 

12

 

 

$-

 

 

$38,000

 

 

2

 

 

2/24/14

 

 

5,000

 

 

**

 

 

9

 

 

 

8,547

 

 

 

8,547

 

 

3

 

 

2/24/14

 

 

39,000

 

 

**

 

 

9

 

 

 

33,687

 

 

 

33,687

 

 

4

 

 

2/24/14

 

 

179,124

 

 

**

 

 

9

 

 

 

33,697

 

 

 

33,697

 

 

5

 

 

8/21/23

 

 

150,000

 

 

**

 

 

12

 

 

 

108,000

 

 

 

150,000

 

 

6

 

 

12/12/24

 

 

28,500

 

 

**

 

 

12

 

 

 

28,500

 

 

 

-

 

 

7

 

 

2/10/25

 

 

21,641

 

 

**

 

 

12

 

 

 

21,711

 

 

 

-

 

 

8

 

 

6/4/25

 

 

28,750

 

 

3/30/2026

 

 

12

 

 

 

28,750

 

 

 

-

 

 

9

 

 

6/4/25

 

 

66,700

 

 

3/30/2026

 

 

12

 

 

 

60,030

 

 

 

-

 

 

 

 

 

Various

 

 

 

 

 

 

 

 

 

 

 

 

27,260

 

 

 

 

 

 

 

 

 

Less: unamortized discount

 

 

 

 

 

 

 

 

 

(19,311)

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

$330,871

 

 

$263,931

 

 

 

 

 

Total Current

 

 

 

 

 

 

 

 

 

 

 

$330,871

 

 

$263,931

 

 

 

 

 

Total Long Term

 

 

 

 

 

 

 

 

 

 

 

$-

 

 

$-

 

 

________ 

** As of June 30, 2025, these notes are in default.

 

On June 4, 2025, the Company entered into a Promissory Note Agreement with a lender in the amount of $28,750, at an interest rate of 14% and a maturity date of May 30, 2026. If the Company defaults, then the Notes have a conversion price at the lower of of $0.01 or a 29% discount to the lowest trading price for the 10 prior trading days to the conversion date.

 

On June 4, 2025, the Company entered into a Promissory Note Agreement with a lender in the amount of $66,700, at an interest rate of 14% and a maturity date of May 30, 2026. If the Company defaults, then the Notes have a conversion price at the lower of of $0.01 or a 29% discount to the lowest trading price for the 10 prior trading days to the conversion date.

 

On May 2, 2025, the Company entered into a Promissory Note Agreement with a lender in the amount of $2,500, at an interest rate of 12% and a maturity date of November 2, 2025.

 

On February 10, 2025, the Company entered into a Promissory Note Agreement with a lender in the amount of $21,641, at an interest rate of 12% and a maturity date of May 10, 2025.

 

On February 7, 2025, the Company entered into a Promissory Note Agreement with a lender in the amount of $5,500, at an interest rate of 12% and a maturity date of May 7, 2025.

On December 12, 2024, the Company entered into a Promissory Note Agreement with a lender in the amount of $28,500, at an interest rate of 12% and a maturity date of March 7, 2025.

 

On December 9, 2024, the Company entered into a Promissory Note Agreement with a lender in the amount of $28,500, at an interest rate of 12% and a maturity date of March 7, 2025.

 

On July 30, 2024, the Company entered into a Promissory Note Agreement with a lender in the amount of $40,250, at an interest rate of 14% and a maturity date of May 30, 2025. If the Company defaults, then the Notes have a conversion price at the lower of of $0.01 or a 29% discount to the lowest trading price for the 10 prior trading days to the conversion date.

 

On July 30, 2024, the Company entered into a Promissory Note Agreement with a lender in the amount of $51,750, at an interest rate of 12% and a maturity date of May 30, 2025. If the Company defaults, then the Notes have a conversion price at the lower of of $0.01 or a 29% discount to the lowest trading price for the 10 prior trading days to the conversion date.