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Convertible Promissory Notes and Notes Payable (Tables)

9 Months Ended

Mar. 31, 2025

Convertible Promissory Notes and Notes Payable

Schedule of Convertible Promissory Notes and Notes Payable

	Maturity	March 31,			June 30,
	Date	2025			2024
Convertible Notes:
Promissory Note, 21- month term, as amended, 18.11% interest payable with common stock and subordinate to the Convertible Notes. This note was amended as of November 15, 2023, extending the note to June 1, 2026 and adjusted the interest rate to 12%, paid in cash monthly.	June 1, 2026	$	700,000		$	1,550,000
2025 Convertible Notes, 24 month term, 3% interest and is convertible into the Company’s common stock at a per share price of $3.00 per common share. No payment of interest or principal is due until the end of the two year term if the loan is not converted. The loan also included a detachable warrant to purchase 116,668 shares of the Company’s common stock at a per share price of $3.00	March 7, 2027		350,000			-
Less current portion of notes payable			(525,000	)		-
Unamortized discount on convertible note			(213,830	)
Notes payable, net of current portion and unamortized discount		$	311,170		$	1,550,000

Notes payable, Cygnet subsidiary:
SBA note payable, 30-year term note, 6% interest rate and collateralized with all assets of the Company	October 6, 2021		3,694,720			3,761,376
Inventory consignment note, 60 monthly payments, with first payment due June 30, 2022, 3.5% interest rate and no security interest in the assets of the business	June 30, 2027		1,000,290			1,002,221
GF Note, 6 annual payments, with first payment due December 31, 2022, 3.5% interest rate and no security interest in the assets of the business	November 7, 2026		685,899			683,968
Total		$	5,380,909		$	5,447,565

Notes payable, Cygnet subsidiary, current			5,380,909			5,447,565

Notes payable, Cygnet subsidiary, net of current		$	-		$	-

Notes Payable on Building for sale:
Mortgage Loan, 10-year term note, 4.8% interest, collateralized by land and warehouse building	September 26, 2032	$	-		$	2,634,538

Note Payable:
Promissory Note, 21-month term note, 10% cash interest and subordinate to the Convertible Notes. This note was amended as of November 15, 2023, extending the note to June 1, 2026 and adjusted the interest rate to 12%, paid in cash monthly.	June 1, 2026		560,000			560,000

Notes payable, current			(420,000	)		-
Discount on notes payable, current						-
Notes payable, current net of discount		$	140,000		$	560,000

Notes payable, long-term			140,000			560,000
Discount on notes payable, long-term						(2,571	)
Notes payable, long-term, net		$	140,000		$	557,429

Related Notes Payable:
Marshall Loan, 2-year term note, 12% cash interest, 3.5% PIK interest and subordinate to the Convertible Notes. November of 2023 extended to June 1, 2026 and interest was adjusted to 12% cash interest, paid monthly	June 1, 2026	$	500,000		$	500,000

Discount on related party note payable, current			-			-
Notes payable, current, net of discount		$	(375,000	)	$	-

Discount on related party note payable, long term			-			-
Notes payable, long term, net		$	125,000		$	500,000

Total convertible notes payable, acquisition notes payable, notes payable and related party note payable		$	7,277,079		$	10,689,532

Schedule of Future Payments on Notes Payable

	Note Payable		Related Party Note Payable		Convertible Notes			Cygnet Subsidiary Notes Payable		Total
2025	$	420,000	$	375,000	$	525,000		$	5,380,909	$	6,700,910
2026		140,000		125,000		175,000			-		440,000
2027		-		-		350,000			-		350,000
		560,000		500,000		1,050,000			5,380,909		7,490,910
Note original discount		-		-		(213,830	)		-		(213,830	)
	$	560,000	$	500,000	$	836,170		$	5,380,909	$	7,277,079