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Loan Payable | 9 Months Ended
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Mar. 31, 2023
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 March 31, 2023 and June 30, 2022, the loan balance was $0 and $94,788, respectively. For the three and nine months ended March 31, 2023, the Company incurred interest expense of $0 and $938, respectively. For the three and nine months ended March 31, 2022, the Company incurred interest expense of $2,502 and $3,445, respectively. For the period January 1, 2023 to December 31, 2023 the Company did no t finance its Directors and Officers liability insurance.

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