Advanced Oxygen (AOXY) 10-K 24 Aug 23 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jun. 30, 2023	Aug. 24, 2023	Dec. 31, 2022
Cover [Abstract]
Entity Registrant Name	ADVANCED OXYGEN TECHNOLOGIES, INC.
Entity Central Index Key	0000352991
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--06-30
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		3,292,945
Entity Public Float			$ 224,341
Entity File Number	0-9951
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	91-1143622
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 State Or Province	VT
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
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Auditor Name	Sadler, Gibb & Associates, LLC
Auditor Location	Draper, UT
Auditor Firm Id	3627

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Jun. 30, 2022
CURRENT ASSETS
Cash	$ 104,836	$ 94,216
Property tax receivable	1,166	1,117
Total Current Assets	106,002	95,333
Property and equipment	591,705	566,856
TOTAL ASSETS	697,707	662,189
CURRENT LIABILITIES
Accounts payable	0	0
Contract liabilities	3,059	2,929
Taxes payable	62,523	51,111
Current portion of notes payable	6,930	16,889
Advances from a related party	147,387	137,583
Total Current Liabilities	219,899	208,512
Long Term Liabilities
Notes payable, net of current portion	127,029	134,008
Total Long-Term Liabilities	127,029	134,008
Total Liabilities	346,928	342,520
STOCKHOLDERS' EQUITY-
Common stock, par value $0.01; At June 30, 2023 and June 30, 2022, authorized 60,000,000 shares; issued and outstanding 3,292,945 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)	23,019	(5,820)
Accumulated deficit	(20,762,335)	(20,764,606)
TOTAL STOCKHOLDERS' EQUITY	350,779	319,669
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	697,707	662,189
Series 3 Convertible Preferred Stock
STOCKHOLDERS' EQUITY-
Preferred Stock, Value	0	0
Series 5 Convertible Preferred Stock
STOCKHOLDERS' EQUITY-
Preferred Stock, Value	0	0
Series 2 Convertible Preferred Stock
STOCKHOLDERS' EQUITY-
Preferred Stock, Value	$ 50	$ 50

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	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 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 3 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
Series 5 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

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenues
Rent Revenues	$ 39,406	$ 39,515
Total Revenues	39,406	39,515
Operating Expenses
General and Administrative	7,001	7,336
Professional fees	21,201	19,100
Total Operating Expenses	28,202	26,436
Income (Loss) from operations	11,204	13,079
Other income (expenses)
Interest (Expense)	(771)	(1,940)
Gain on Tax Settlement	0	53,902
Total Other Income (Expenses)	(771)	51,962
Income before Income Taxes	10,433	65,041
Income Taxes Expense	8,162	8,049
NET INCOME	$ 2,271	$ 56,992
Weighted Average number of common shares outstanding
Basic	3,292,945	3,292,945
Diluted	3,302,945	3,302,945
Basic earnings per Share	$ 0	$ 0.02
Dilutive earnings per Share	$ 0	$ 0.02
OTHER COMPREHENSIVE INCOME (LOSS)
NET INCOME	$ 2,271	$ 56,992
Foreign Currency Translation Adjustments	28,839	(83,262)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 31,110	$ (26,270)

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($)	Total	Series 2 Convertible Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated other comprehensive Income (loss)
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
Foreign Currency Translation Adjustment	(83,262)	0	0	0	0	(83,262)
Net Income	56,992	$ 0	$ 0	0	56,992	0
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)
Foreign Currency Translation Adjustment	28,839	0	0	0	0	28,839
Net Income	2,271	$ 0	$ 0	0	2,271	0
Balance, shares at Jun. 30, 2023		5,000	3,292,945
Balance, amount at Jun. 30, 2023	$ 350,779	$ 50	$ 32,929	$ 21,057,116	$ (20,762,335)	$ 23,019

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 2,271	$ 56,992
Adjustments to reconcile net income to net cash provided by operating activities
Expenses paid on behalf of the company by a related party	24,251	23,779
Changes in operating assets and liabilities
Accounts payable	0	(682)
Taxes payable	8,874	9,503
Net cash provided by operating activities	35,396	89,592
Cash flow from financing activities:
Repayment of related party debt	(11,921)	(16,139)
Repayment of long-term debt	(17,245)	(17,139)
Net cash used in financing activities	(29,166)	(33,278)
Change due to FX Translation	4,389	(12,077)
NET CHANGE IN CASH	10,620	44,237
Cash at beginning of period	94,216	49,979
Cash at end of period	104,836	94,216
Supplemental Disclosures of Cash Flow Information
Cash paid for Interest	771	1,940
Cash paid for Income Taxes	$ 8,162	$ 7,939

ORGANIZATION AND LINE OF BUSINE

ORGANIZATION AND LINE OF BUSINESS	12 Months Ended
	Jun. 30, 2023
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. 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 and operations are derived from its wholly owned subsidiary Sharx DK ApS. 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 June 30, 2023. 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	12 Months Ended
	Jun. 30, 2023
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 consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP and are expressed in United States dollars. The Company’s fiscal year end is June 30. 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 June 30, 2023, the Company recorded $3,059 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 June 30, 2023 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 June 30, 2023, and June 30, 2022 there were 10,000 and 10,000, potential dilutive shares that need to be considered as common share equivalents and because of the net income for June 30, 2023, 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 grant date 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	12 Months Ended
	Jun. 30, 2023
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 earned. The Company’s subsidiary Sharx DK ApS had zero retail customers for the year ending June 30, 2022 and zero for the year ending June 30, 2023. 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: Year Ended June 30, Revenue Type 2023 2022 Real Estate Rental $ 39,406 $ 39,515 Commission Revenues — — Total Sales by Revenue Type $ 39,406 $ 39,515 The Company’s derives revenues from 100% of foreign revenues. For the period ending June 30, 2023 and June 30, 2022 the major geographic concentrations were as follows: Geographic Regions for the Twelve Months Ended June 30, Revenue Type 2023 2022 International $ 39,406 $ 39,515 Domestic — — Total Sales by Geographic Location $ 39,406 $ 39,515

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Jun. 30, 2023
PROPERTY AND EQUIPMENT
PROPERTY & EQUIPMENT	NOTE 4 – PROPERTY & EQUIPMENT: The Land owned by the Company’s wholly owned subsidiary constitutes the largest asset of the Company. During the period ending June 30, 2023 the Company recorded an increase in the carrying value of the Land of $24,849, due to the currency translation difference. The carrying value of the Land of the Company was as follows: Carrying Value of Land at June 30, 2023 2022 US Dollars $ 591,705 $ 566,856

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jun. 30, 2023
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 June 30, 2023 and 2022, the Company had a balance of $147,387 and $137,583 respectively. During the twelve-month period ended June 30, 2023 and 2022 expenses paid on behalf of the Company were $24,251 and $23,779 respectively. The Company repaid $11,921 of the advancement during the year ending June 30, 2023.

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Jun. 30, 2023
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, 2024, prior to period end and interest waived through the period ending June 30, 2024. As of June 30, 2023, the unpaid balance was $127,029. The Company has a note payable with a bank (“Note B”). The original amount of Note B was kr1, 132,000 Danish Krone (kr). Note B is secured by the subsidiary’s real estate, with a 2.00% interest rate and .5 years left on the term. The balance on the note as of June 30, 2023 was $6,930. During the period ended June 30, 2023, the Company paid $17,245, in principal payments and $771 in interest. The Company’s commitments and contingencies are $6,930 for 2024. See below table for the years 2024 through 2025 with total principal payments due on outstanding notes payable of $133,959. 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. Year Amount 2024 $ 6,930 2025 127,029 Total $ 133,959 Less: Long-term portion of notes payable 127,029 Notes payable, current portion $ 6,930 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.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2023
INCOME TAXES
INCOME TAXES	NOTE 7 - INCOME TAXES: As of June 30, 2023, the Company had federal and state net operating loss carryforwards of approximately $20,663,463 of which approximately $636,466 may be utilized to offset future taxable income. Section 382 of the Internal Revenue Code imposes substantial restrictions on the utilization of net operating loss and tax credit carryforwards when a change in ownership occurs. No deferred tax assets have been recorded because it is considered unlikely that they will be realized. The loss carryforwards will expire during the fiscal years ended June 30 as follows: Year Amount 2023 $ - Total $ - The overall effective tax rate differs from the federal statutory tax rate of 21% due to operating losses and other deferred assets not providing benefit for income tax purposes. A reconciliation of income tax expense at the federal statutory rate to income tax expense at the Company’s effective rate is as follows at June 30, 2023 and 2022: 2023 2022 United States Statutory Income Tax Rate 21 % 21 % Increase (Decrease) in rate on income subject to Danish income tax rates 1 % 1 % Decrease in rate resulting from Non-Deductible expenses — — Income Tax Expense 22 % 22 % The components of income tax expense (benefit) from continuing operations for the years ended June 30, 2023 and 2022 consisted of the following: Current Tax Expense 2023 2022 Danish Income Tax Expense (Benefit) $ 8,162 $ 8,049 Federal US Income Tax Expense (Benefit) Current — — Deferred — — Total Income Tax Expense $ 8,162 $ 8,049 Deferred income tax expense/ (benefit) results primarily from the reversal of temporary timing differences between tax and financial statement income. The Company had deferred tax income tax assets as of June 30, 2023 and 2022 as follows: 2023 2022 Net operating loss carryforwards $ 4,364,079 $ 4,363,579 Valuation allowance (4,364,079 ) (4,363,579 ) Total net deferred tax assets $ — $ — The Company has maintained a full valuation allowance against the total deferred tax assets for all period due to the uncertainty of future utilization.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
	Jun. 30, 2023
STOCKHOLDERS EQUITY
STOCKHOLDERS' EQUITY	NOTE 8 – STOCKHOLDERS’ EQUITY: Common Stock: The Company is authorized to issue 60,000,000 shares of Common stock, par value $0.01; At June 30, 2023 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 June 30, 2023, 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 June 30, 2023 and 2022. Series 5 Convertible Preferred Stock: The Company has designated1share 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 June 30, 2023 and 2022.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
	Jun. 30, 2023
SEGMENT AND GEOGRAPHIC INFORMATION
SEGMENT AND GEOGRAPHIC INFORMATION	NOTE 9 – SEGMENT AND GEOGRAPHIC INFORMATION Segment Performance We have three reporting segments: 1. The ANV lease segment which leases land in Denmark by long term leases. 2. The Sharx’s segment which generate commissions for the sale cargo security products. 3. 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: Year Ended June 30, 2023 2022 Revenue by segment Lease revenues $ 39,406 $ 39,515 Commission revenues from security product sales — — Corporate revenues — — Total revenue $ 39,406 $ 39,515 Segment profitability Lease income (loss) $ 28,935 $ 82,442 Commission income (loss) from security product sales (2,414 ) (2,354 ) Corporate income (loss) (24,250 ) (23,096 ) Total segment profitability $ 2,271 $ 56,992 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. Year Ending June 30: 2023 2022 Net Sales United States $ — $ — Denmark 39,406 39,515 Total $ 39,406 $ 39,515 Long-Lived Assets United States $ — $ — Denmark 591,705 566,856 Total $ 591,705 $ 566,856 Year Ended June 30, 2023 ANV Sharx Corporate Total Net sales $ 39,406 $ — $ — $ 39,406 Operating income (loss) 37,868 (2,414 ) (24,250 ) 11,204 Interest expense (771 ) — — (771 ) Goodwill - - - - Depreciation and amortization — — — — Total assets $ 697,559 $ (2 ) $ 150 $ 697,707 Year Ended June 30, 2022 ANV Sharx Corporate Total Net sales $ 39,515 $ — $ — $ 39,515 Operating (loss) income 38,528 (2,354 ) (23,095 ) 13,079 Interest expense (1,940 ) — — (1,940 ) Goodwill - - - - Depreciation and amortization — — — — Total assets $ 659,627 $ 2,412 $ 150 $ 662,189

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 10 - 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)	12 Months Ended
	Jun. 30, 2023
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 consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP and are expressed in United States dollars. The Company’s fiscal year end is June 30.
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 June 30, 2023, the Company recorded $3,059 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 June 30, 2023 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 June 30, 2023, and June 30, 2022 there were 10,000 and 10,000, potential dilutive shares that need to be considered as common share equivalents and because of the net income for June 30, 2023, 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 grant date 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	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)	12 Months Ended
	Jun. 30, 2023
REVENUE
Schedule of disaggregates revenue by revenue type	Year Ended June 30, Revenue Type 2023 2022 Real Estate Rental $ 39,406 $ 39,515 Commission Revenues — — Total Sales by Revenue Type $ 39,406 $ 39,515
Schedule of disaggregates revenue by geographic location	Geographic Regions for the Twelve Months Ended June 30, Revenue Type 2023 2022 International $ 39,406 $ 39,515 Domestic — — Total Sales by Geographic Location $ 39,406 $ 39,515

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Jun. 30, 2023
PROPERTY AND EQUIPMENT
Schedule of value of Property and Equipment	Carrying Value of Land at June 30, 2023 2022 US Dollars $ 591,705 $ 566,856

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Jun. 30, 2023
NOTES PAYABLE
Schedule of commitments and contingencies obligations	Year Amount 2024 $ 6,930 2025 127,029 Total $ 133,959 Less: Long-term portion of notes payable 127,029 Notes payable, current portion $ 6,930

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2023
INCOME TAXES
Summary of operating loss carryforwards	Year Amount 2023 $ - Total $ -
Summary of reconciliation of income tax expense rate	2023 2022 United States Statutory Income Tax Rate 21 % 21 % Increase (Decrease) in rate on income subject to Danish income tax rates 1 % 1 % Decrease in rate resulting from Non-Deductible expenses — — Income Tax Expense 22 % 22 %
Summary of components of income tax expense	Current Tax Expense 2023 2022 Danish Income Tax Expense (Benefit) $ 8,162 $ 8,049 Federal US Income Tax Expense (Benefit) Current — — Deferred — — Total Income Tax Expense $ 8,162 $ 8,049
Summary of deferred tax income tax assets	2023 2022 Net operating loss carryforwards $ 4,364,079 $ 4,363,579 Valuation allowance (4,364,079 ) (4,363,579 ) Total net deferred tax assets $ — $ —

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Jun. 30, 2023
SEGMENT AND GEOGRAPHIC INFORMATION
Schedule of Segment Reporting Information	Year Ended June 30, 2023 2022 Revenue by segment Lease revenues $ 39,406 $ 39,515 Commission revenues from security product sales — — Corporate revenues — — Total revenue $ 39,406 $ 39,515 Segment profitability Lease income (loss) $ 28,935 $ 82,442 Commission income (loss) from security product sales (2,414 ) (2,354 ) Corporate income (loss) (24,250 ) (23,096 ) Total segment profitability $ 2,271 $ 56,992 Year Ending June 30: 2023 2022 Net Sales United States $ — $ — Denmark 39,406 39,515 Total $ 39,406 $ 39,515 Long-Lived Assets United States $ — $ — Denmark 591,705 566,856 Total $ 591,705 $ 566,856 Year Ended June 30, 2023 ANV Sharx Corporate Total Net sales $ 39,406 $ — $ — $ 39,406 Operating income (loss) 37,868 (2,414 ) (24,250 ) 11,204 Interest expense (771 ) — — (771 ) Goodwill - - - - Depreciation and amortization — — — — Total assets $ 697,559 $ (2 ) $ 150 $ 697,707 Year Ended June 30, 2022 ANV Sharx Corporate Total Net sales $ 39,515 $ — $ — $ 39,515 Operating (loss) income 38,528 (2,354 ) (23,095 ) 13,079 Interest expense (1,940 ) — — (1,940 ) Goodwill - - - - Depreciation and amortization — — — — Total assets $ 659,627 $ 2,412 $ 150 $ 662,189

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Contract Liabilities	$ 3,059
Potential Dilutive Shares	10,000	10,000

REVENUE (Details)

REVENUE (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Total Sales By Revenue Type	$ 39,406	$ 39,515
Total Sales By Geographic Location	39,406	39,515
International [Member]
Net Sales	39,406	39,515
Domestic [Member]
Net Sales	0	0
Commission Revenue [Member]
Net Sales	0	0
Real Estate Rental
Net Sales	$ 39,406	$ 39,515

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
PROPERTY AND EQUIPMENT
Us Dollars	$ 591,705	$ 566,856

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details narrative)	12 Months Ended
	Jun. 30, 2023 USD ($)
PROPERTY AND EQUIPMENT
Increase In Carrying Value Of Land	$ 24,849

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Advances From A Related Party	$ 147,387	$ 137,583
Affiliates And Officers [Member]
Advances From A Related Party	147,387	137,583
Expenses Paid On Behalf Of A Related Party	24,251	$ 23,779
Repayment Of Related Party	$ 11,921

NOTES PAYABLE (Details)

NOTES PAYABLE (Details)	Jun. 30, 2023 USD ($)
NOTES PAYABLE
2024	$ 6,930
2025	127,029
Total	133,959
Less: Long-term portion of notes payable	127,029
Notes Payable, Current Portion	$ 6,930

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Notes Payable	$ 127,029
2024	0
Notes payable	127,029	$ 134,008
Commitments [Member]
2024	6,930
Notes payable	133,959
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	$ 6,930
Principal Payments	17,245
Interest Payments	771
Notes Payable To Banks One [Member] | Danish Krone [Member]
Notes Payable	$ 132,000
Interest Rate On Notes Payable	2%
Left Term Years	5 years

INCOME TAXES (Details)

INCOME TAXES (Details)	Jun. 30, 2023 USD ($)
Operating Loss Carryforwards
Total	$ 0
2023	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
INCOME TAXES
United States Statutory Income tax Rate	21%	21%
Increase (Decrease) in rate on income subject to Danish income tax rates	1%	1%
Decrease in rate resulting from Non-Deductible expenses	$ 0	$ 0
Income Tax Expense	22%	22%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Current Tax Expense
Danish Income Tax Expense (Benefit)	$ 8,162	$ 8,049
Federal US Income Tax Expense (Benefit)
Current	0	0
Deferred	0	0
Total Income Tax Expense	$ 8,162	$ 8,049

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
INCOME TAXES
Net operating loss carryforwards	$ 4,364,079	$ 4,363,579
Valuation allowance	(4,364,079)	(4,363,579)
Total net deferred tax assets	$ 0	$ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
INCOME TAXES
Federal and state net operating loss carryforwards	$ 20,663,463
Operating Loss Carryforwards to offset future taxable income	$ 636,466
Federal statutory tax rate	21%	21%

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - $ / shares	12 Months Ended
	Jun. 30, 2023	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 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
Common stock converted shares	10,000
Preferred Stock, Shares Issued	5,000	5,000
Series 3 Convertible Preferred Stock
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 5 Convertible Preferred Stock
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

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Total Revenue	$ 39,406	$ 39,515
Revenue By Segment [Member]
Lease Revenues	39,406	39,515
Commission revenues from security product sales	0	0
Corporate revenues	0	0
Total Revenue	39,406	39,515
Segment profitability [Member]
Lease Income (loss)	28,935	82,442
Commission income (loss) from security product sales	(2,414)	(2,354)
Corporate income (loss)	(24,250)	(23,096)
Total Segment Profitability	$ 2,271	$ 56,992

SEGMENT AND GEOGRAPHIC INFORM_4

SEGMENT AND GEOGRAPHIC INFORMATION (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Net sales	$ 39,406	$ 39,515
Long lived assets	591,705	566,856
United States [Member]
Net sales	0	0
Long lived assets	0	0
Denmark [Member]
Net sales	39,406	39,515
Long lived assets	$ 591,705	$ 566,856

SEGMENT AND GEOGRAPHIC INFORM_5

SEGMENT AND GEOGRAPHIC INFORMATION (Details 2) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Net Sales	$ 39,406	$ 39,515
Total Assets	697,707	662,189
A N V [Member]
Net Sales	39,406	39,515
Operating Income (loss)	37,868	38,528
Goodwill	0	0
Depreciation and amortization	0	0
Interest Expense	(771)	(1,940)
Total Assets	697,559	659,627
Sharx [Member]
Net Sales	0	0
Operating Income (loss)	(2,414)	(2,354)
Goodwill	0	0
Depreciation and amortization	0	0
Interest Expense	0	0
Total Assets	2	2,412
Corporate Segment [Member]
Net Sales	0	0
Operating Income (loss)	(24,250)	(23,095)
Goodwill	0	0
Depreciation and amortization	0	0
Interest Expense	0	0
Total Assets	150	150
Total [Member]
Net Sales	39,406	39,515
Operating Income (loss)	11,204	13,079
Goodwill	0	0
Depreciation and amortization	0	0
Interest Expense	(771)	(1,940)
Total Assets	$ 697,707	$ 662,189