XML 23 R13.htm IDEA: XBRL DOCUMENT

Notes Payable	6 Months Ended
Dec. 31, 2022
Notes Payable [Abstract]
Notes Payable	Note 7. Notes Payable On December 9, 2022, the Company issued a Bridge Promissory Note (the "Note") to Seabridge, an entity affiliated with the Chairman of our Board of Directors, Rudi Fronk, and an owner of approximately 5.7% of our outstanding common stock, pursuant to which the Company may borrow, in one or more advances, the principal amount of up to $1,500,000 (the "Loan"). The Loan bears interest at a per annum rate of 12%, payable upon maturity or prepayment, and matures on September 30 2023. The Company has the right to prepay the Loan, in whole or in part, at any time without penalty. At December 31, 2022, the balance of the loan including accrued interest was $1,004,932.

Notes Payable

6 Months Ended

Dec. 31, 2022

Note 7. Notes Payable

On December 9, 2022, the Company issued a Bridge Promissory Note (the "Note") to Seabridge, an entity affiliated with the Chairman of our Board of Directors, Rudi Fronk, and an owner of approximately 5.7% of our outstanding common stock, pursuant to which the Company may borrow, in one or more advances, the principal amount of up to $1,500,000 (the "Loan"). The Loan bears interest at a per annum rate of 12%, payable upon maturity or prepayment, and matures on September 30 2023. The Company has the right to prepay the Loan, in whole or in part, at any time without penalty.

At December 31, 2022, the balance of the loan including accrued interest was $1,004,932.