Wednesday, February 08, 2023 9:19:23 AM
Extinguishment of Debt 650,000,000 shares to retire $1,650,000 in accrued officers’ compensation and $100,036 in related payroll taxes owed for services rendered to date for director, Terry Sylvan; cost basis $.002692363/share. A loss of $1,532,464 was recorded on this extinguishment for the period ended June 30, 2022. 1,342,369,184 shares to retire $2,200,000 in accrued officers’ compensation and $133,382 in related payroll taxes owed for services rendered to date for CEO and director, Edward Sylvan; cost basis $.001738256/share. A loss of $4,445,583 was recorded on this extinguishment for the period ended June 30, 2022.
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