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Loan Payable
12 Months Ended
Jun. 30, 2020
Loan Payable  
Loan Payable

Note 9 – Loan Payable

The Company financed its Directors and Officers liability insurance policies through BankDirect. The original loan balance, as of January 1, 2020, is $155,173 payable at the rate of $15,874 per month through October 2020 including interest at an annual interest rate of 5%. At June 30, 2020, the loan balance was $62,843. For the year ended June 30, 2020, the Company incurred interest expense of $2,916.