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Discontinued Operations - Sale of Infusionz to Bloomios (Tables) | 12 Months Ended
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Jun. 30, 2024
Discontinued Operations - Sale of Infusionz to Bloomios |
Schedule of inventory or working capital |
Tangible assets, inventory / working capital* |  | $ | (1,344,000 | )
Tangible assets, warehouse and manufacturing equipment, net of accumulated depreciation* |  |  | (679,327 | )
Goodwill |  |  | (2,413,814 | )
Intangible assets, net of accumulated amortization |  |  | (946,996 | )
Accrued and incurred expenses related to the transaction and additional working capital* |  |  | (2,051,500 | )
Consideration received, including cash, debt and equity, net |  |  | 15,000,000 |
Total gain recognized |  | $ | 7,564,363 |
Schedule of due from Bloomios |
Advance for payroll |  | $ | 50,000 |
Operating expense |  |  | 652,891 |
Management fees |  |  | 685,600 |
Excess working capital |  |  | 388,565 |
Accrued Interest |  |  | 247,885 |
Subtotal due from Bloomios |  | $ | 2,024,941 |
Reserve |  |  | 1,179,498 |
Total due from Bloomios |  | $ | 845,443 |
Schedule Of Discontinued Operations |
|  | Years ended June 30, |
|  | 2024 |  |  | 2023 |
Discontinued Operations |  |  |  |  |  |
Revenue |  | $ | - |  |  | $ | 3,042,878 |
Cost of sales |  | $ | - |  |  | $ | 1,803,643 |
Sales, general and administrative expenses |  | $ | (71,976 | ) |  | $ | 1,300,102 |
Depreciation and amortization |  | $ |  |  |  | $ | 10,576 |
Income (loss) from discontinued operations, net of tax |  | $ | 71,976 |  |  | $ | (338,418 | )
Schedule Of Investments - Bloomios |
Senior secured convertible debenture, net of unamortized original issue discount |  | $ | 5,218,209 |
Series D convertible preferred stock |  |  | 8,500,000 |
Convertible Secured Subordinate Promissory Note |  |  | 5,000,000 |
Reserve on Investments - Bloomios |  |  | (18,718,209 | )
Total Investments - Bloomios |  | $ | - |

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