Advanced Oxygen (AOXY) 10-Q 13 Feb 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2022	Feb. 13, 2023
Cover [Abstract]
Entity Registrant Name	ADVANCED OXYGEN TECHNOLOGIES, INC.
Entity Central Index Key	0000352991
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		3,292,945
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	91-1143622
Entity Interactive Data Current	Yes
Entity File Number	0-9951
Entity Address Address Line 1	C/O Crossfield, Inc.
Entity Address Address Line 2	653 VT Route 12A
Entity Address Address Line 3	PO Box 189
Entity Address City Or Town	Randolph
Entity Address Postal Zip Code	05060
City Area Code	212
Local Phone Number	727-7085
Security 12b Title	Common Stock, $0.01 Par Value
Trading Symbol	AOXY
Entity Address State Or Province	VT

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Jun. 30, 2022
CURRENT ASSETS
Cash	$ 101,854	$ 94,216
Property tax receivable	1,142	1,117
Total Current Assets	102,996	95,333
Property and equipment	578,766	566,856
TOTAL ASSETS	681,762	662,189
CURRENT LIABILITIES
Accounts payable	2,100	0
Contract liabilities	2,992	2,929
Taxes payable	57,523	51,111
Current portion of notes payable	142,647	16,889
Advances from a related party	143,889	137,583
Total Current Liabilities	349,151	208,512
Long Term Liabilities
Notes payable, net of current portion	0	134,008
Total Long-term Liabilities	0	134,008
Total Liabilities	349,151	342,520
STOCKHOLDERS' EQUITY-
Common stock, par value $0.01; At December 31, 2022 and June 30, 2022, authorized 60,000,000 shares; issued and outstanding 3,292,945 shares and 3,292,945 shares, respectively	32,929	32,929
Additional paid-in capital	21,057,116	21,057,116
Accumulated other comprehensive income (loss)	8,123	(5,820)
Accumulated deficit	(20,765,607)	(20,764,606)
TOTAL STOCKHOLDERS' EQUITY	332,611	319,669
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	681,762	662,189
Series 2 Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY-
Convertible preferred stock, Series 2, par value $0.01; authorized 10,000,000 shares; issued and outstanding 5,000 at December 31, 2022 and June 30, 2022	50	50
Series 5 Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY-
Convertible preferred stock, Series 2, par value $0.01; authorized 10,000,000 shares; issued and outstanding 5,000 at December 31, 2022 and June 30, 2022	0	$ 0
Series 3 Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY-
Convertible preferred stock, Series 2, par value $0.01; authorized 10,000,000 shares; issued and outstanding 5,000 at December 31, 2022 and June 30, 2022	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Jun. 30, 2022
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	60,000,000	60,000,000
Common Stock, Shares Issued	3,292,945	3,292,945
Common Stock, Shares Outstanding	3,292,945	3,292,945
Series 2 Convertible Preferred Stock [Member]
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	5,000	5,000
Preferred Stock, Shares Outstanding	5,000	5,000
Series 5 Convertible Preferred Stock [Member]
Preferred Stock, Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	1	1
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Series 3 Convertible Preferred Stock [Member]
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	1,670,000	1,670,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Revenues
Rent Revenues	$ 9,382	$ 9,867	$ 18,358	$ 20,048
Total Revenues	9,382	9,867	18,358	20,048
Operating Expenses
General and Administrative	1,451	3,039	3,072	4,205
Professional fees	3,500	3,000	12,000	11,000
Total Operating Expenses	4,951	6,039	15,072	15,205
Income from operations	4,431	3,828	3,286	4,843
Other income (Expenses)
Interest (Expense)	(220)	(698)	(485)	(1,227)
Gain on Tax Settlement	0	55,579	0	55,579
FX Income	15	0	34	0
Total Other Income (Expenses)	(205)	54,881	(451)	54,352
Income Before Income Taxes	4,226	58,709	2,835	59,195
Income Taxes Expense	1,977	1,954	3,836	4,011
NET INCOME (LOSS)	$ 2,249	$ 56,755	$ (1,001)	$ 55,184
Weighted Average number of common shares outstanding
Basic	3,292,945	3,292,945	3,292,945	3,292,945
Dilutive	3,302,945	3,302,945	3,292,945	3,302,945
Basic earnings per Share	$ 0	$ 0.02	$ 0	$ 0.02
Dilutive earnings per Share	$ 0	$ 0.02	$ 0	$ 0.02
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign Currency Translation Adjustments	$ 51,019	$ (16,477)	$ 13,943	$ (32,423)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 53,268	$ 40,278	$ 12,942	$ 22,761

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (Unaudited) - USD ($)	Total	Preferred Stock Convertible Series 2	Common Stock	Additional Paid In Capital	Accumulated Deficit	Accumulated other comprehensive Income
Balance, shares at Jun. 30, 2021		5,000	3,292,945
Balance, amount at Jun. 30, 2021	$ 345,939	$ 50	$ 32,929	$ 21,057,116	$ (20,821,598)	$ 77,442
Net income	55,184	0	0	0	55,184	0
Foreign Currency Translation Adjustment	(32,423)	$ 0	$ 0	0	0	(32,423)
Balance, shares at Dec. 31, 2021		5,000	3,292,945
Balance, amount at Dec. 31, 2021	368,700	$ 50	$ 32,929	21,057,116	(20,766,414)	45,019
Balance, shares at Sep. 30, 2021		5,000	3,292,945
Balance, amount at Sep. 30, 2021	328,422	$ 50	$ 32,929	21,057,116	(20,823,169)	61,496
Net income	56,755	0	0	0	56,755	0
Foreign Currency Translation Adjustment	(16,477)	$ 0	$ 0	0	0	(16,477)
Balance, shares at Dec. 31, 2021		5,000	3,292,945
Balance, amount at Dec. 31, 2021	368,700	$ 50	$ 32,929	21,057,116	(20,766,414)	45,019
Balance, shares at Jun. 30, 2022		5,000	3,292,945
Balance, amount at Jun. 30, 2022	319,669	$ 50	$ 32,929	21,057,116	(20,764,606)	(5,820)
Net income	(1,001)	0	0	0	(1,001)	0
Foreign Currency Translation Adjustment	13,943	$ 0	$ 0	0	0	13,943
Balance, shares at Dec. 31, 2022		5,000	3,292,945
Balance, amount at Dec. 31, 2022	332,611	$ 50	$ 32,929	21,057,116	(20,765,607)	8,123
Balance, shares at Sep. 30, 2022		5,000	3,292,945
Balance, amount at Sep. 30, 2022	279,343	$ 50	$ 32,929	21,057,116	(20,767,856)	(42,896)
Net income	2,249	0	0	0	2,249	0
Foreign Currency Translation Adjustment	(51,019)	$ 0	$ 0	0	0	(51,019)
Balance, shares at Dec. 31, 2022		5,000	3,292,945
Balance, amount at Dec. 31, 2022	$ 332,611	$ 50	$ 32,929	$ 21,057,116	$ (20,765,607)	$ 8,123

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net Income (loss)	$ (1,001)	$ 55,184
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Expenses paid on behalf of the company by a related party	12,500	13,129
Changes in operating assets and liabilities
Accounts payable and accrued liabilities	2,100	1,418
Taxes payable	5,115	3,820
Net cash provided by operating activities	18,714	73,551
Cash flow from financing activities:
Repayment of related party debt	(4,969)	(11,536)
Repayment of long-term debt	(8,316)	(9,341)
Net cash used in financing activities	(13,285)	(20,877)
Change due to Foreign Currency Translation	2,210	(3,476)
NET CHANGE IN CASH	7,638	49,198
Cash at beginning of period	94,216	49,979
Cash at end of period	101,854	99,177
Supplemental Disclosures of Cash Flow Information
Cash paid for Interest	485	1,227
Cash paid for Income taxes	$ 0	$ 0

ORGANIZATION AND LINE OF BUSINE

ORGANIZATION AND LINE OF BUSINESS	6 Months Ended
	Dec. 31, 2022
ORGANIZATION AND LINE OF BUSINESS
Organization And Line Of Business	NOTE 1 - ORGANIZATION AND LINE OF BUSINESS: Organization: Advanced Oxygen Technologies Inc, (“Advanced Oxygen Technologies”, “AOXY”, or the “Company”), was incorporated in Delaware in 1981 under the name Aquanautics Corporation and was, from 1985 until May 1995, a startup stage specialty materials company producing new oxygen control technologies. From May of 1995 through December of 1997 the Company had minimal operations and was seeking funding for operations and companies to which it could merge or acquire. In March of 1998 the Company began operations again in California. From 1998 through 2000, the business produced and sold CD- ROMS for conference events, advertisement sales on the CD’s, database management and event marketing all associated with conference events. From 2000 through March of 2003, the business consisted solely of database management. From 2003 through April 2005, the business operations were derived totally from the Company’s wholly owned business, IP Service, ApS, a Danish IP security vulnerability company (“IP Service”). Since then, business operations have been solely derived from its wholly owned subsidiaries Anton Nielsen Vojens, ApS (“ANV”), Sharx Inc. and its wholly owned subsidiary Sharx DK ApS (collectively “Sharx”). Lines of Business: Advanced Oxygen Technologies, Inc. operations are derived from its wholly owned subsidiaries Anton Nielsen Vojens, ApS (“ANV”), Sharx Inc. and its wholly owned subsidiary Sharx DK ApS (collectively “Sharx”). ANV is a Danish company that owns commercial real estate in Vojens, Denmark. ANV’s revenues are derived solely from the lease revenue from its real estate. Circle K Denmark A/S, formerly StatOil A/S, leases the facility from ANV. The lease expires in 2026. Sharx Inc. is a Wyoming corporation incorporated in 2020 that owns Sharx DK ApS. Sharx Inc. operations are derived from its wholly owned subsidiary Sharx DK ApS. Sharx Inc. has no other operations and performs administrative functions for itself and its subsidiary. Sharx DK ApS is a Danish company, incorporated in 2020. On June 30, 2020, Sharx DK ApS, entered into a Distribution Agreement (the “Distribution Agreement” Exhibit 10.1) with a third party vendor, Cleaver ApS, a Danish corporation (“Cleaver”), whereby Cleaver has appointed the Company as Cleaver’s nonexclusive distributor of its products in Europe, South America and North America. Cleaver is a manufacturer of a line of products for the logistics and cargo industry. Sharx had no activity for the period ending December 31, 2022. Other Risk and Uncertainties: In connection with the COVID-19 pandemic, governments have implemented significant measures, including closures, quarantines, travel restrictions and other social distancing directives, intended to control the spread of the virus. Companies have also taken precautions, such as requiring employees to work remotely, imposing travel restrictions and temporarily closing businesses. To the extent that these restrictions remain in place, additional prevention and mitigation measures are implemented in the future, or there is uncertainty about the effectiveness of these or any other measures to contain or treat COVID-19, there is likely to be an adverse impact on global economic conditions and consumer confidence and spending, which could materially and adversely affect the Company’s research and development, as well as operational activities. At this time, the Company is working to manage and mitigate potential disruptions to its future manufacturing and supply chain considerations. The Company has not experienced hindrance to its operations or material negative financial impacts as compared to prior periods. At this time, the extent to which the COVID-19 pandemic impacts the Company’s business will depend on future developments, which are highly uncertain and cannot be predicted.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Summary Of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation: The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries (ANV and Sharx), after elimination of all intercompany accounts, transactions, and profits. Basis of Presentation: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s fiscal year end is June 30. The accompanying condensed consolidated financial statements are unaudited. In the opinion of management, all adjustments of a normal recurring nature, considered necessary for a fair presentation of financial position, results of operations, and cash flows at the dates and for the periods presented have been included. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. All intercompany balances are eliminated in consolidation. Certain information and note disclosures normally included in annual financial statements have been condensed or omitted from these interim financial statements; these financial statements should be read in conjunction with the financial statements and notes thereto included in our Form 10-K for the year ended June 30, 2022. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition: Revenue from Contracts with Customers For our rental revenue and commission revenue, we recognize revenue under the five steps in Topic 606, which are as follows: 1) identify the contract with the customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to the performance obligations; and 5) recognize revenue when (or as) performance obligations are satisfied. Rental Revenue Rental revenue is derived from the Commercial Property lease in which quarterly payments are received pursuant to the property lease which is in effect until 2026. We recognize revenue when we have satisfied a performance obligation by transferring control over a product or delivering a service to a client. We measure revenue based upon the consideration set forth in an arrangement or contract with a client. We recognize revenue from these services when the services are completed. If we are paid in advance for these services, we record such payment as a contract liability until we complete the services. As of December 31, 2022, the Company recorded $2,992 of contract liabilities in connection to rental revenues. The Company leases land to a customer. We, as a lessor, retain substantially all of the risks and benefits of ownership of the investment properties and account for our leases as operating leases. We accrue fixed lease income on a straight-line basis over the terms of the leases when we believe substantially all lease income, including the related straight-line rent receivable, is probable of collection. For our leases, we receive a fixed payment from the customer which is recognized as lease income on a straight-line basis over the term of the lease beginning with the adoption of ASC 842. In April 2020, the FASB staff released guidance focused on treatment of concessions related to the effects of COVID-19 on the application of lease modification guidance in Accounting Standards Codification (ASC) 842, “Leases.” The guidance provides a practical expedient to forgo the associated reassessments required by ASC 842 when changes to a lease result in similar or lower future consideration. We have elected to generally account for rent abatements as negative variable lease consideration in the period granted, or in the period we determine we expect to grant an abatement. Further abatements granted in the future will reduce lease income in the period we grant, or determine we expect to grant, an abatement. We have not agreed to any deferral or abatement arrangements with any of our customers. The Company has elected to exclude short-term leases from the recognition requirements of ASC 842. A lease is short-term if, at the commencement date, it has a term of less than or equal to one year. Lease expense related to short-term leases is recognized on a straight-line basis over the lease term. Commission revenue For our commission revenue, we recognize revenue under the five steps in Topic 606, which are as follows: 1) identify the contract with the customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to the performance obligations; and 5) recognize revenue when (or as) performance obligations are satisfied. The Company’s source of commission revenue is from the Company’s subsidiary Sharx in which quarterly payments are received when the customer pre-pays or pays upon the date products are drop shipped from the manufacturer pursuant to a non-exclusive distribution agreement. At such time the products are drop shipped, the Company’s performance obligation has been satisfied and revenue is recorded. The Company has determined that it is an agent of the manufacturer and collects commission revenue at or before the delivery of product (See Note 3 for further details). Cash and Cash Equivalents: For purposes of the statement of cash flows, the Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. The Company maintains its cash in bank deposit accounts which, at December 31, 2022 did not exceed federally insured limits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant credit risk on such amounts. Property and Equipment: Land is recognized at cost. Land is carried at cost less accumulated impairment losses. Foreign currency translation: Foreign currency transactions are translated applying the current rate method. Assets and liabilities are translated at current rates. Stockholders’ equity accounts are translated at the appropriate historical rates and revenue and expenses are translated at weighted average rates for the year. Foreign currency transactions: The Company applies the guidelines as set out in Section 830-20-35 of the FASB Accounting Standards Codification (“Section 830-20-35”) for foreign currency transactions. Pursuant to Section 830-20-35 of the FASB Accounting Standards Codification, foreign currency transactions are transactions denominated in currencies other than U.S. Dollar, the Company’s reporting currency. Foreign currency transactions may produce receivables or payables that are fixed in terms of the amount of foreign currency that will be received or paid. A change in exchange rates between the reporting currency and the currency in which a transaction is denominated increases or decreases the expected amount of reporting currency cash flows upon settlement of the transaction. That increase or decrease in expected reporting currency cash flows is a foreign currency transaction gain or loss that generally shall be included in determining net income for the period in which the exchange rate changes. Likewise, a transaction gain or loss (measured from the transaction date or the most recent intervening balance sheet date, whichever is later) realized upon settlement of a foreign currency transaction generally shall be included in determining net income for the period in which the transaction is settled. The exceptions to this requirement for inclusion in net income of transaction gains and losses pertain to certain intercompany transactions and to transactions that are designated as, and effective as, economic hedges of net investments and foreign currency commitments. Pursuant to Section 830-20-25 of the FASB Accounting Standards Codification, the following shall apply to all foreign currency transactions of an enterprise and its investees: (a) at the date the transaction is recognized, each asset, liability, revenue, expense, gain, or loss arising from the transaction shall be measured and recorded in the functional currency of the recording entity by use of the exchange rate in effect at that date as defined in section 830-10-20 of the FASB Accounting Standards Codification; and (b) at each balance sheet date, recorded balances that are denominated in currencies other than the functional currency or reporting currency of the recording entity shall be adjusted to reflect the current exchange rate. The Company’s wholly owned subsidiary ANV uses the Danish Krone, DKK as its reporting currency as well as its functional currency. The wholly owned subsidiary Sharx DK ApS uses the US Dollar as its reporting currency as well as its functional currency and from time to time has transactions in foreign currencies. The change in exchange rates between the U.S. Dollar, the Company’s reporting and functional currency and the foreign currency, the currency in which a transaction is denominated increases or decreases the expected amount of reporting currency cash flows upon settlement of the transaction. That increase or decrease in expected reporting currency cash flows is a foreign currency transaction gain or loss that generally is included in determining net income (loss) for the period in which the exchange rate changes. Income Taxes: The Company accounts for income taxes under the asset and liability method of accounting. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is required when it is less likely than not that the Company will be able to realize all or a portion of its deferred tax assets. Because it is doubtful that the net operating losses of recent years will ever be used, a valuation allowance has been recognized equal to the tax benefit of net operating losses generated. Earnings per Share: Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of December 31, 2022, and December 31, 2021 there were 10,000 and 10,000, potential dilutive shares that need to be considered as common share equivalents and because of the net loss, the effect of these potential common shares is anti-dilutive for the six-months ended December 31, 2022 and dilutive for six-months ended December 31, 2021. For the three-months ended December 31, 2022 and three-months December 31, 2021 the effect of these potential common shares is dilutive. Stock-Based Compensation: The Company records stock-based compensation in accordance with ASC 718, Compensation. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employees required service period, which is generally the vesting period. Concentrations of Credit Risk: Financial instruments that potentially subject the Company to major credit risk consist principally of a single subsidiary of Anton Nielsen Vojens ApS. ANV’s rent revenues are derived from one customer. The Company’s commission revenues are subject to concentration risk as the commission revenues are derived from one product. New Accounting Pronouncements Already Adopted None. New Accounting Pronouncements Not Yet Adopted None. Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

REVENUE

REVENUE	6 Months Ended
	Dec. 31, 2022
REVENUE
Revenue	NOTE 3 - REVENUE: The Company’s subsidiary, Anton Nielsen Vojens, ApS has one customer who is a non-related party and leases property from the Company. Rent revenues related to the operating lease are recognized as incurred. The Company’s subsidiary Sharx DK ApS had zero retail customers for the three and six month period ending December 31, 2022 and zero for the three and six month period ending December 31, 2021. The Company has determined that is an agent of the manufacturer and collects commission revenue at or before the delivery of product. The Company disaggregates revenues by revenue type and geographic location. See the below tables: Three Months Ended December 31, Revenue Type 2022 2021 Real Estate Rental $ 9,382 $ 9,867 Commission Revenues — — Total Sales by Revenue Type $ 9,382 $ 9,867 Six Months Ended December 31, Revenue Type 2022 2021 Real Estate Rental $ 18,358 $ 20,048 Commission Revenues — — Total Sales by Revenue Type $ 18,358 $ 20,048 The Company’s derives revenues from 100% of foreign revenues. For the period ending December 31, 2022 and December 31, 2021 the major geographic concentrations were as follows: Geographic Regions for the Three Months Ended December 31, Revenue Type 2022 2021 International $ 9,382 $ 9,867 Domestic — — Total Sales by Geographic Location $ 9,382 $ 9,867 Geographic Regions for the Six Months Ended December 31, Revenue Type 2022 2021 International $ 18,358 $ 20,048 Domestic — — Total Sales by Geographic Location $ 18,358 $ 20,048

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Dec. 31, 2022
PROPERTY AND EQUIPMENT
Property And Equipment	NOTE 4 - PROPERTY AND EQUIPMENT: The Land owned by the Company’s wholly owned subsidiary constitutes the largest asset of the Company. During the period ending December 31, 2022 the Company recorded an increase in the carrying value of the Land of $11,910, due to the currency translation difference. The carrying value of the Land of the Company was as follows: Carrying Value of Land at December 31, 2022 June 30, 2022 US Dollars $ 578,766 $ 566,856

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Dec. 31, 2022
RELATED PARTY TRANSACTIONS
Related Party Transactions	NOTE 5 - RELATED PARTY TRANSACTIONS: Crossfield, Inc., a company of which the CEO, Robert Wolfe is an officer and director, has made advances to the Company which are not collateralized, non-interest bearing, and payable upon demand. At December 31, 2022 and June 30, 2022, the Company had a balance of $143,889 and $137,583 respectively. During the six-month period ended December 31, 2022 and 2021 expenses paid on behalf of the Company were $12,500 and $13,129 respectively. The Company repaid $4,969 of the advancement during the six month period ending December 31, 2022.

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Dec. 31, 2022
NOTES PAYABLE
Notes Payable	NOTE 6 - NOTES PAYABLE: During 2006, the Company issued a promissory note (“Note”) for $650,000, payable to the Borkwood Development Ltd, a previous shareholder of the Company (“Seller”), payable and amortized monthly and carrying an interest at 5% per year. The Company has the right to prepay the note at any time with a notice of 14 days. To secure the payment of principal and interest the Sellers will receive a perfect lien and security interest in the Shares in the company ANV until the note with accrued interest is paid in full, and, 2) In the case that the Note has not been repaid within 12 months from the day of closing the Sellers have the right to convert the debt to common stock of Advanced Oxygen Technologies, Inc. in an amount of non-diluted shares calculated on the conversion Date, equal to the lesser of : a) Six hundred and Fifty thousand (650,000) or the Purchase Price minus the principal payments made by the buyer, whichever is greater, divided by the previous ten day closing price of AOXY as quoted on the national exchange, or b) Fifteen million shares, whichever is lesser. The Note has been extended until July 1, 2023, prior to period end and interest waived through the period ending June 30, 2023. As of December 31, 2022, the unpaid balance was $127,029. The Company has a note payable with a bank (“Note B”). The original amount of Note B was kr 1,132,000 Danish Krone (kr). Note B is secured by the subsidiary’s real estate, with a 2.00% interest rate and 1 year left on the term. The balance on the note as of December 31, 2022 was $15,618. During the period ended December 31, 2022, the Company paid $(8,316) in principal payments and $485 in interest. The Company’s commitments and contingencies are $135,867 for 2023. See below table for the years 2023 through 2024 with total principal payments due on outstanding notes payable of $142,647. The amounts stated reflect the Company’s commitments in the currencies that those commitments were made and the amounts are an estimate of what the US dollar amount would be if the currency rates did not change. Fiscal Year Ending Amount 2023 142,647 2024 - Total $ 142,647 Less: Long-term portion of notes payable - Notes payable, current portion $ 142,647 The amounts stated reflect the Company’s commitments in the currencies that those commitments were made and the amounts are an estimate of what the US dollar amount would be if the currency rates did not change going forward.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	6 Months Ended
	Dec. 31, 2022
STOCKHOLDERS EQUITY
Stockholders' Equity	NOTE 7 - STOCKHOLDERS’ EQUITY: Common Stock: The Company is authorized to issue 60,000,000 shares of Common stock, par value $0.01; At December 31, 2022 and June 30, 2022 there were 3,292,945 and 3,292,945 shares issued and outstanding, respectively. Preferred Stock: Series 2 Convertible Preferred Stock: The Company is authorized to issue 10,000,000 shares of $0.01 par value of series 2 convertible preferred stock. Each Series 2 preferred share also includes one warrant to purchase two common shares for $5.00. The warrants are exercisable over a three-year period. In the event of the liquidation of the Company, holders of Series 2 preferred stock would be entitled to receive $5.00 per share, plus any unpaid dividends declared on the Series 2 preferred stock from the funds remaining after the Company’s creditors, including directors, have been paid. There have been no dividends declared. There are 177,000 Series 2 Convertible Preferred shares designated. As of December 31, 2022, and June 30, 2022 there are 5,000 shares issued, which are convertible into 10,000 common shares. There are no warrants outstanding that have been issued in connection with these preferred shares. Series 3 Convertible Preferred Stock: The Company has designated 1,670,000 shares of series 3 convertible preferred stock with a par value $0.01. Each share automatically converts on March 2, 2000 into either (a) one (1) share of the Company’s common stock if the average closing price of the common stock during the ten trading days immediately prior to March 1, 2000 is equal to or greater than sixty-six cents ($0.66) per share, or (b) one and one-half (1 1/2) shares of common stock if the average closing price of the common stock during the ten trading days immediately prior March 1, 2000 is less than sixty-six cents ($0.66) per share. There were zero shares of Series 3 Convertible Preferred Stock converted to common stock. There are zero shares issued and outstanding at December 31, 2022 and 2021. Series 5 Convertible Preferred Stock: The Company has designated 1 share of series 5 convertible preferred stock, no par value. There is 1 Series 5 Convertible Preferred shares designated. The shares are collectively convertible to common stock of the Company on March 5, 2004, in an amount equal to the greater of a.) 290,000 shares divided by the ten day closing price, prior to the date of acquisition of IPS, of the Company’s common stock as quoted on the national exchange and not to exceed twenty million shares, or b.) six million shares. There were zero shares of Series 5 Convertible Preferred Stock converted to common stock. There are zero shares issued and outstanding at December 31, 2022 and 2021.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	6 Months Ended
	Dec. 31, 2022
SEGMENT AND GEOGRAPHIC INFORMATION
Segment And Geographic Information	NOTE 8 - Segment and Geographic Information Segment Performance We have three reporting segments: ● The ANV lease segment which leases land in Denmark by long term leases. ● The Sharx’s segment which generate commissions for the sale cargo security products. ● The Corporate segment, Advanced Oxygen Technologies, Inc. which does not generate revenues, but has administrative expenses. The following table summarizes financial information regarding each reportable segment’s results of operations for the periods presented: Six Months Ending December 31, 2022 2021 Revenue by segment Lease revenues $ 18,358 $ 20,048 Commission revenues from security product sales — — Corporate revenues — — Total revenue $ 18,358 $ 20,048 Segment profitability Lease income (loss) $ 13,599 $ 69,800 Commission income (loss)from security product sales - (70 ) Corporate income (loss) (14,600 ) (14,546 ) Total segment profitability $ (1,001 ) $ 55,148 Three Months Ending December 31, 2022 2021 Revenue by segment Lease revenues $ 9,382 $ 9,867 Commission revenues from security product sales — — Corporate revenues — — Total revenue $ 9,382 $ 9,867 Segment profitability Lease income $ 7,009 $ 62,505 Commission income (loss) from security product sales 15 (29 ) Corporate income (loss) (4,775 ) (5,721 ) Total segment profitability $ 2,249 $ 56,755 17 Table of Contents ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued) The following table presents net sales, based on the location in which the sale originated, and long-lived assets, representing property, plant and equipment, net of related depreciation, by geographic region. All of the assets are land that are held by the Company’s subsidiary, ANV. Three Months Ending December 31: 2022 2021 Net Sales United States $ - $ - Denmark 9,382 9,867 Total $ 9,382 $ 9,867 As of December 31, 2022 and June 30, 2022 Dec 31, 2022 June 30, 2022 Long-Lived Assets United States $ - $ - Denmark 578,766 566,856 Total $ 578,766 $ 566,856 Six Months Ending December 31: 2022 2021 Net Sales United States $ - $ - Denmark 18,358 20,048 Total $ 18,358 $ 20,048 Three Months Ending December 31, 2022 ANV Sharx Corporate Total Net sales $ 9,382 $ — $ — $ 9,382 Operating income (loss) $ 9,206 $ — $ (4,775 ) $ 4,431 Interest expense $ (220 ) $ — $ — $ (220 ) Total assets $ 679,199 $ 2,413 $ 150 $ 681,762 Three Months Ending December 31, 2021 ANV Sharx Corporate Total Net sales $ 9,867 $ — $ — $ 9,867 Operating (loss) income $ 9,578 $ (29 ) $ (5,721 ) $ 3,828 Interest expense $ (698 ) $ — $ — $ (698 ) Total assets $ 710,150 $ 4,696 $ 150 $ 714,996 Six Months Ending December 31, 2022 ANV Sharx Corporate Total Net sales $ 18,358 $ — $ — $ 18,358 Operating income (loss) $ 17,920 $ (34 ) $ (14,600 ) $ 3,286 Interest expense $ (485 ) $ — $ — $ (485 ) Total assets $ 679,199 $ 2,413 $ 150 $ 681,762 Six Months Ending December 31, 2021 ANV Sharx Corporate Total Net sales $ 20,048 $ — $ — $ 20,048 Operating income (loss) $ 19,459 $ (70 ) $ (14,546 ) $ 4,843 Interest expense $ (1,227 ) $ — $ — $ (1,227 ) Total assets $ 710,150 $ 4,696 $ 150 $ 714,996

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2022
SUBSEQUENT EVENTS
Subsequent Events	NOTE 9 - SUBSEQUENT EVENTS: In accordance with ASC 855-10, Company management reviewed all material events through the date of this report.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles Of Consolidation	The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries (ANV and Sharx), after elimination of all intercompany accounts, transactions, and profits.
Basis Of Presentation	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s fiscal year end is June 30. The accompanying condensed consolidated financial statements are unaudited. In the opinion of management, all adjustments of a normal recurring nature, considered necessary for a fair presentation of financial position, results of operations, and cash flows at the dates and for the periods presented have been included. The results of operations of any interim period are not necessarily indicative of the results of operations for the full year. All intercompany balances are eliminated in consolidation. Certain information and note disclosures normally included in annual financial statements have been condensed or omitted from these interim financial statements; these financial statements should be read in conjunction with the financial statements and notes thereto included in our Form 10-K for the year ended June 30, 2022.
Use Of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition	Revenue from Contracts with Customers For our rental revenue and commission revenue, we recognize revenue under the five steps in Topic 606, which are as follows: 1) identify the contract with the customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to the performance obligations; and 5) recognize revenue when (or as) performance obligations are satisfied. Rental Revenue Rental revenue is derived from the Commercial Property lease in which quarterly payments are received pursuant to the property lease which is in effect until 2026. We recognize revenue when we have satisfied a performance obligation by transferring control over a product or delivering a service to a client. We measure revenue based upon the consideration set forth in an arrangement or contract with a client. We recognize revenue from these services when the services are completed. If we are paid in advance for these services, we record such payment as a contract liability until we complete the services. As of December 31, 2022, the Company recorded $2,992 of contract liabilities in connection to rental revenues. The Company leases land to a customer. We, as a lessor, retain substantially all of the risks and benefits of ownership of the investment properties and account for our leases as operating leases. We accrue fixed lease income on a straight-line basis over the terms of the leases when we believe substantially all lease income, including the related straight-line rent receivable, is probable of collection. For our leases, we receive a fixed payment from the customer which is recognized as lease income on a straight-line basis over the term of the lease beginning with the adoption of ASC 842. In April 2020, the FASB staff released guidance focused on treatment of concessions related to the effects of COVID-19 on the application of lease modification guidance in Accounting Standards Codification (ASC) 842, “Leases.” The guidance provides a practical expedient to forgo the associated reassessments required by ASC 842 when changes to a lease result in similar or lower future consideration. We have elected to generally account for rent abatements as negative variable lease consideration in the period granted, or in the period we determine we expect to grant an abatement. Further abatements granted in the future will reduce lease income in the period we grant, or determine we expect to grant, an abatement. We have not agreed to any deferral or abatement arrangements with any of our customers. The Company has elected to exclude short-term leases from the recognition requirements of ASC 842. A lease is short-term if, at the commencement date, it has a term of less than or equal to one year. Lease expense related to short-term leases is recognized on a straight-line basis over the lease term. Commission revenue For our commission revenue, we recognize revenue under the five steps in Topic 606, which are as follows: 1) identify the contract with the customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to the performance obligations; and 5) recognize revenue when (or as) performance obligations are satisfied. The Company’s source of commission revenue is from the Company’s subsidiary Sharx in which quarterly payments are received when the customer pre-pays or pays upon the date products are drop shipped from the manufacturer pursuant to a non-exclusive distribution agreement. At such time the products are drop shipped, the Company’s performance obligation has been satisfied and revenue is recorded. The Company has determined that it is an agent of the manufacturer and collects commission revenue at or before the delivery of product (See Note 3 for further details).
Cash And Cash Equivalents	For purposes of the statement of cash flows, the Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. The Company maintains its cash in bank deposit accounts which, at December 31, 2022 did not exceed federally insured limits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant credit risk on such amounts.
Property And Equipment	Land is recognized at cost. Land is carried at cost less accumulated impairment losses.
Foreign Currency Translation	Foreign currency transactions are translated applying the current rate method. Assets and liabilities are translated at current rates. Stockholders’ equity accounts are translated at the appropriate historical rates and revenue and expenses are translated at weighted average rates for the year.
Foreign Currency Transactions	The Company applies the guidelines as set out in Section 830-20-35 of the FASB Accounting Standards Codification (“Section 830-20-35”) for foreign currency transactions. Pursuant to Section 830-20-35 of the FASB Accounting Standards Codification, foreign currency transactions are transactions denominated in currencies other than U.S. Dollar, the Company’s reporting currency. Foreign currency transactions may produce receivables or payables that are fixed in terms of the amount of foreign currency that will be received or paid. A change in exchange rates between the reporting currency and the currency in which a transaction is denominated increases or decreases the expected amount of reporting currency cash flows upon settlement of the transaction. That increase or decrease in expected reporting currency cash flows is a foreign currency transaction gain or loss that generally shall be included in determining net income for the period in which the exchange rate changes. Likewise, a transaction gain or loss (measured from the transaction date or the most recent intervening balance sheet date, whichever is later) realized upon settlement of a foreign currency transaction generally shall be included in determining net income for the period in which the transaction is settled. The exceptions to this requirement for inclusion in net income of transaction gains and losses pertain to certain intercompany transactions and to transactions that are designated as, and effective as, economic hedges of net investments and foreign currency commitments. Pursuant to Section 830-20-25 of the FASB Accounting Standards Codification, the following shall apply to all foreign currency transactions of an enterprise and its investees: (a) at the date the transaction is recognized, each asset, liability, revenue, expense, gain, or loss arising from the transaction shall be measured and recorded in the functional currency of the recording entity by use of the exchange rate in effect at that date as defined in section 830-10-20 of the FASB Accounting Standards Codification; and (b) at each balance sheet date, recorded balances that are denominated in currencies other than the functional currency or reporting currency of the recording entity shall be adjusted to reflect the current exchange rate. The Company’s wholly owned subsidiary ANV uses the Danish Krone, DKK as its reporting currency as well as its functional currency. The wholly owned subsidiary Sharx DK ApS uses the US Dollar as its reporting currency as well as its functional currency and from time to time has transactions in foreign currencies. The change in exchange rates between the U.S. Dollar, the Company’s reporting and functional currency and the foreign currency, the currency in which a transaction is denominated increases or decreases the expected amount of reporting currency cash flows upon settlement of the transaction. That increase or decrease in expected reporting currency cash flows is a foreign currency transaction gain or loss that generally is included in determining net income (loss) for the period in which the exchange rate changes.
Income Taxes	The Company accounts for income taxes under the asset and liability method of accounting. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is required when it is less likely than not that the Company will be able to realize all or a portion of its deferred tax assets. Because it is doubtful that the net operating losses of recent years will ever be used, a valuation allowance has been recognized equal to the tax benefit of net operating losses generated.
Earnings Per Share	Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of December 31, 2022, and December 31, 2021 there were 10,000 and 10,000, potential dilutive shares that need to be considered as common share equivalents and because of the net loss, the effect of these potential common shares is anti-dilutive for the six-months ended December 31, 2022 and dilutive for six-months ended December 31, 2021. For the three-months ended December 31, 2022 and three-months December 31, 2021 the effect of these potential common shares is dilutive.
Stock-based Compensation	The Company records stock-based compensation in accordance with ASC 718, Compensation. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employees required service period, which is generally the vesting period.
Concentrations Of Credit Risk	Financial instruments that potentially subject the Company to major credit risk consist principally of a single subsidiary of Anton Nielsen Vojens ApS. ANV’s rent revenues are derived from one customer. The Company’s commission revenues are subject to concentration risk as the commission revenues are derived from one product.
New Accounting Pronouncements Already Adopted	None.
New Accounting Pronouncements Not Yet Adopted	None. Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Dec. 31, 2022
REVENUE
Schedules Of Major Customer Concentrations	Three Months Ended December 31, Revenue Type 2022 2021 Real Estate Rental $ 9,382 $ 9,867 Commission Revenues — — Total Sales by Revenue Type $ 9,382 $ 9,867 Six Months Ended December 31, Revenue Type 2022 2021 Real Estate Rental $ 18,358 $ 20,048 Commission Revenues — — Total Sales by Revenue Type $ 18,358 $ 20,048
Schedule Of Major Geographic Concentrations	Geographic Regions for the Three Months Ended December 31, Revenue Type 2022 2021 International $ 9,382 $ 9,867 Domestic — — Total Sales by Geographic Location $ 9,382 $ 9,867 Geographic Regions for the Six Months Ended December 31, Revenue Type 2022 2021 International $ 18,358 $ 20,048 Domestic — — Total Sales by Geographic Location $ 18,358 $ 20,048

PROPERTY EQUIPMENT (Tables)

PROPERTY EQUIPMENT (Tables)	6 Months Ended
	Dec. 31, 2022
PROPERTY AND EQUIPMENT
Schedule Of Value Of Property And Equipment	Carrying Value of Land at December 31, 2022 June 30, 2022 US Dollars $ 578,766 $ 566,856

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Dec. 31, 2022
NOTES PAYABLE
Schedule Of Commitments And Contingencies Obligations	Fiscal Year Ending Amount 2023 142,647 2024 - Total $ 142,647 Less: Long-term portion of notes payable - Notes payable, current portion $ 142,647

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	6 Months Ended
	Dec. 31, 2022
SEGMENT AND GEOGRAPHIC INFORMATION
Schedule Of Segment Reporting Information	Six Months Ending December 31, 2022 2021 Revenue by segment Lease revenues $ 18,358 $ 20,048 Commission revenues from security product sales — — Corporate revenues — — Total revenue $ 18,358 $ 20,048 Segment profitability Lease income (loss) $ 13,599 $ 69,800 Commission income (loss)from security product sales - (70 ) Corporate income (loss) (14,600 ) (14,546 ) Total segment profitability $ (1,001 ) $ 55,148 Three Months Ending December 31, 2022 2021 Revenue by segment Lease revenues $ 9,382 $ 9,867 Commission revenues from security product sales — — Corporate revenues — — Total revenue $ 9,382 $ 9,867 Segment profitability Lease income $ 7,009 $ 62,505 Commission income (loss) from security product sales 15 (29 ) Corporate income (loss) (4,775 ) (5,721 ) Total segment profitability $ 2,249 $ 56,755
Schedule Of Net Sales Based On Location	Three Months Ending December 31: 2022 2021 Net Sales United States $ - $ - Denmark 9,382 9,867 Total $ 9,382 $ 9,867 As of December 31, 2022 and June 30, 2022 Dec 31, 2022 June 30, 2022 Long-Lived Assets United States $ - $ - Denmark 578,766 566,856 Total $ 578,766 $ 566,856 Six Months Ending December 31: 2022 2021 Net Sales United States $ - $ - Denmark 18,358 20,048 Total $ 18,358 $ 20,048 Three Months Ending December 31, 2022 ANV Sharx Corporate Total Net sales $ 9,382 $ — $ — $ 9,382 Operating income (loss) $ 9,206 $ — $ (4,775 ) $ 4,431 Interest expense $ (220 ) $ — $ — $ (220 ) Total assets $ 679,199 $ 2,413 $ 150 $ 681,762 Three Months Ending December 31, 2021 ANV Sharx Corporate Total Net sales $ 9,867 $ — $ — $ 9,867 Operating (loss) income $ 9,578 $ (29 ) $ (5,721 ) $ 3,828 Interest expense $ (698 ) $ — $ — $ (698 ) Total assets $ 710,150 $ 4,696 $ 150 $ 714,996 Six Months Ending December 31, 2022 ANV Sharx Corporate Total Net sales $ 18,358 $ — $ — $ 18,358 Operating income (loss) $ 17,920 $ (34 ) $ (14,600 ) $ 3,286 Interest expense $ (485 ) $ — $ — $ (485 ) Total assets $ 679,199 $ 2,413 $ 150 $ 681,762 Six Months Ending December 31, 2021 ANV Sharx Corporate Total Net sales $ 20,048 $ — $ — $ 20,048 Operating income (loss) $ 19,459 $ (70 ) $ (14,546 ) $ 4,843 Interest expense $ (1,227 ) $ — $ — $ (1,227 ) Total assets $ 710,150 $ 4,696 $ 150 $ 714,996

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Contract Liabilities	$ 2,992
Potential Dilutive Shares	10,000	10,000

REVENUE (Details)

REVENUE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Total Sales By Revenue Type	$ 9,382	$ 9,867	$ 18,358	$ 20,048
Total Sales By Geographic Location	9,382	9,867	18,358	20,048
International [Member]
Net Sales	9,382	9,867	18,358	20,048
Domestic [Member]
Net Sales	0	0	0	0
Commission Revenue [Member]
Net Sales	0	0	0	0
Real Estate Rental
Net Sales	$ 9,382	$ 9,867	$ 18,358	$ 20,048

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	6 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
PROPERTY AND EQUIPMENT
Us Dollars	$ 578,766	$ 566,856
Increase In Carrying Value Of Land	$ 11,910

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details narrative)	6 Months Ended
	Dec. 31, 2022 USD ($)
PROPERTY AND EQUIPMENT
Increase In Carrying Value Of Land	$ 11,910

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
Advances From A Related Party	$ 143,889		$ 137,583
Affiliates And Officers [Member]
Advances From A Related Party	143,889		$ 137,583
Expenses Paid On Behalf Of A Related Party	12,500	$ 13,129
Repayment Of Related Party	$ 4,969

NOTES PAYABLE (Details)

NOTES PAYABLE (Details)	Dec. 31, 2022 USD ($)
NOTES PAYABLE
2023	$ 142,647
2024	0
Total	142,647
Less: Long-term Portion Of Notes Payable	0
Notes Payable, Current Portion	$ 142,647

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative)	6 Months Ended
	Dec. 31, 2022 USD ($)
Notes Payable	$ 127,029
Commitments [Member]
2023	135,867
2023 Through 2024	142,647
Borkwood Development Ltd [Member]
Notes Payable	$ 650,000
Interest Rate On Notes Payable	5%
Notes Payable Description	The Company has the right to prepay the note at any time with a notice of 14 days. To secure the payment of principal and interest the Sellers will receive a perfect lien and security interest in the Shares in the company ANV until the note with accrued interest is paid in full, and, 2) In the case that the Note has not been repaid within 12 months from the day of closing the Sellers have the right to convert the debt to common stock of Advanced Oxygen Technologies, Inc. in an amount of non-diluted shares calculated on the conversion Date, equal to the lesser of : a) Six hundred and Fifty thousand (650,000) or the Purchase Price minus the principal payments made by the buyer, whichever is greater, divided by the previous ten day closing price of AOXY as quoted on the national exchange, or b) Fifteen million shares, whichever is lesser.
Notes Payable To Banks One [Member]
Notes Payable	$ 15,618
Principal Payments	(8,316)
Interest Payments	485
Notes Payable To Banks One [Member] | Danish Krone [Member]
Notes Payable	$ 1,132,000
Interest Rate On Notes Payable	2%
Left Term Years	1 year

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - $ / shares	6 Months Ended
	Dec. 31, 2022	Jun. 30, 2022
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Issued	3,292,945	3,292,945
Common Stock, Shares Outstanding	3,292,945	3,292,945
Common Stock, Shares Authorized	60,000,000	60,000,000
Series 5 Convertible Preferred Stock [Member]
Preferred Shares Designated	1
Conversion Description	There is 1 Series 5 Convertible Preferred shares designated. The shares are collectively convertible to common stock of the Company on March 5, 2004, in an amount equal to the greater of a.) 290,000 shares divided by the ten day closing price, prior to the date of acquisition of IPS, of the Company’s common stock as quoted on the national exchange and not to exceed twenty million shares, or b.) six million shares
Series 3 Convertible Preferred Stock [Member]
Preferred Shares Designated	1,670,000
Conversion Description	Each share automatically converts on March 2, 2000 into either (a) one (1) share of the Company’s common stock if the average closing price of the common stock during the ten trading days immediately prior to March 1, 2000 is equal to or greater than sixty-six cents ($0.66) per share
Preferred Stock, Par Value	$ 0.01
Series 2 Convertible Preferred Stock
Common Stock, Par Value	$ 0.01
Preferred Stock, Shares Authorized	10,000,000
Warrants, Exercise Price	$ 5
Preferred Shares Designated	177,000
Preferred Stock, Shares Issued	5,000	5,000

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Total Revenue	$ 9,382	$ 9,867	$ 18,358	$ 20,048
Revenue By Segment [Member]
Lease Revenues	9,382	9,867	18,358	20,048
Commission revenues from security product sales	0	0	0	0
Corporate revenues	0	0	0	0
Total Revenue	9,382	9,867	18,358	20,048
Segment profitability [Member]
Lease Income (loss)	7,009	62,505	13,599	69,800
Commission income (loss) from security product sales	15	(29)	0	(70)
Corporate income (loss)	(4,775)	(5,721)	(14,600)	(14,546)
Total Segment Profitability	$ 2,249	$ 56,755	$ (1,001)	$ 55,148

SEGMENT AND GEOGRAPHIC INFORM_4

SEGMENT AND GEOGRAPHIC INFORMATION (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
Net sales	$ 9,382	$ 9,867	$ 18,358	$ 20,048
Long lived assets	578,766		578,766		$ 566,856
United States [Member]
Net sales	0	0	0	0
Long lived assets	0		0		0
Denmark [Member]
Net sales	9,382	$ 9,867	18,358	$ 20,048
Long lived assets	$ 578,766		$ 578,766		$ 566,856

SEGMENT AND GEOGRAPHIC INFORM_5

SEGMENT AND GEOGRAPHIC INFORMATION (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Net Sales	$ 9,382	$ 9,867	$ 18,358	$ 20,048
A N V [Member]
Net Sales	9,382	9,867	18,358	20,048
Operating Income (loss)	9,206	9,578	17,920	19,459
Interest Expense	(220)	(698)	(485)	(1,227)
Total Assets	679,199	710,150	679,199	710,150
Sharx [Member]
Net Sales	0	0	0	0
Operating Income (loss)	0	(29)	(34)	(70)
Interest Expense	0	0	0	0
Total Assets	2,413	4,696	2,413	4,696
Corporate Segment [Member]
Net Sales	0	0	0	0
Operating Income (loss)	(4,775)	(5,721)	(14,600)	(14,546)
Interest Expense	0	0	0	0
Total Assets	150	150	150	150
Total [Member]
Net Sales	9,382	9,867	18,358	20,048
Operating Income (loss)	4,431	(3,828)	3,286	4,843
Interest Expense	(220)	(698)	(485)	(1,227)
Total Assets	$ 681,762	$ 714,996	$ 681,762	$ 714,996