Initial general form for registration of a class of securities pursuant to Section 12(g)

Supplemental Disclosure of Cash Flow Information

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Supplemental Disclosure of Cash Flow Information
 6 Months Ended 12 Months Ended
Dec. 31, 2021
Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]    
Supplemental Disclosure of Cash Flow Information

Note 12 – 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

 

    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:

 

    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 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.