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Loan Payable | 3 Months Ended
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Sep. 30, 2022
Loan Payable |
Loan Payable | Note 7 – Loan Payable The Company financed its Directors and Officers liability insurance policies through BankDirect for the periods January 1, 2022 to December 31, 2022 and January 1, 2021 to December 31, 2021. The original loan balances as of January 1, 2022 and January 1, 2021 were $234,198 and $235,476, respectively, payable at the rate of $23,932 and $24,062 monthly including interest at an annual rate of 4.74% and 4.74%, respectively, through October of each year. At September 30, 2022 and June 30, 2022, the loan balance was $23,837 and $94,788, respectively. For three months ended September 30, 2022 and September 30, 2021 the Company incurred interest expense of $844 and $848, respectively.

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