|
Note
13 – Supplemental Disclosure of Cash Flow Information
Schedule
of Supplemental Disclosure of Cash Flow Information
| |
|
2021 |
|
|
2020 |
|
| |
|
Six Months Ended December 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Cash paid for interest |
|
$ |
— |
|
|
$ |
— |
|
| Cash paid for income taxes |
|
$ |
— |
|
|
$ |
— |
|
In
September 2021 the Company issued 950 shares of Series B Preferred Stock in payment of its post-closing liability in connection with
the acquisition of the Group on June 25, 2021.
|
Note
14 – Supplemental Disclosure of Cash Flow Information
Schedule
of Supplemental Disclosure of Cash Flow Information
| |
|
Year Ended June 30, |
|
| |
|
2021 |
|
|
2020 |
|
| Cash paid for interest |
|
$ |
— |
|
|
$ |
— |
|
| Cash paid for income taxes |
|
$ |
— |
|
|
$ |
— |
|
Non-cash
investing and financing activities in connection with the acquisition consist of the following for the year ended June 30, 2021:
Schedule of Non-cash
Investing and financing activities
| |
|
Year ended
June 30, 2021 |
|
| Purchase of working capital deficit for preferred stock and debt forgiveness |
|
$ |
2,110,770 |
|
| Purchase of fixed assets for preferred stock and debt forgiveness |
|
|
(711 |
) |
| Purchase of intangibles for preferred stock and debt forgiveness |
|
|
(2,904,000 |
) |
| Purchase of goodwill for preferred stock and debt forgiveness |
|
|
(7,956,824 |
) |
| Assumption of long-term notes payable |
|
|
298,454 |
|
| Consideration given |
|
|
8,452,357 |
|
| Cash received |
|
$ |
46 |
|
There
were no non-cash investing and financing activities during the year ended June 30, 2020.
In
September 2021 the Company issued 950 shares of Series B Preferred Stock in payment of its post-closing liability in connection with
the acquisition of the Group on June 25, 2021.
|