XML 26 R16.htm IDEA: XBRL DOCUMENT v3.23.1
RELATED PARTY TRANSACTIONS
 9 Months Ended
Mar. 31, 2023
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 10. RELATED PARTY TRANSACTIONS

 

Augmented Reality Investments Pty Ltd (“ARI”)

 

In March 2022, the Company lent to ARI, the entity from which the assets of AUGGD (see Notes 5 and 12) were bought, $0.25 million pursuant to a secured promissory note due March 31, 2024. The two owners of ARI are a current employee and a ex-non-employee advisor to the Company.

 

The note bore interest at the rate of 1% per annum and was secured by the borrower’s common shares of the Company. Any sales of said shares were to be used to prepay the note, unless otherwise agreed to by the Company.

 

The note and any accrued interest were extinguished in July 2022. See Note 11.