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Note 4 - Related Party Transactions
 3 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

NOTE 4.

RELATED PARTY TRANSACTIONS

 

During the three months ended September 30, 2025, the Company continued to be a party to a service agreement (the “Service Agreement”) with Riverview Financial Corp ("Riverview"). Riverview was the sole shareholder of Fields Management, Inc. (“FMI”) which was merged into Riverview and Riverview became party to the Service Agreement by assumption of the Service Agreement. Riverview, like FMI prior to the merger, provided certain executive management services to the Company, including designating Randall K. Fields to perform the functions of President and Chief Executive Officer for the Company. Mr. Fields, Riverview’s designated executive, who also serves as the Company’s Chair of the Board of Directors, controls Riverview. During the three months ended September 30, 2025 and 2024, the Company paid Riverview $256,404 and $242,451, respectively, in connection with the Service Agreement. The Company had no payables to Riverview under the Service Agreement as of September 30, 2025 or June 30, 2025.

 

During the three months ended September 30, 2025, the Company redeemed and retired and aggregate of $749,995 in Series B Preferred from Mr. Randall K. Fields, affiliates of Mr. Fields, and Robert W. Allen. During the year ended  June 30, 2025, the Company redeemed and retired and aggregate of $2,937,749 in Series B Preferred from Mr. Randall K. Fields, affiliates of Mr. Fields, and Robert W. Allen. During the year ended  June 30, 2024, the Company redeemed and retired an aggregate of $95,284 in Series B Preferred and $2,272,701 in Series B-1 Preferred from Mr. Randall K. Fields, affiliates of Mr. Fields, and Robert W. Allen. Mr. Allen is a director of the Company.