Form 10-Q/A - Quarterly report [Sections 13 or 15(d)]: [Amend]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number: 000-51390

INNOVATIVE MEDTECH, INC.

(Exact name of registrant as specified in its charter)

Delaware		33-1130446
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

2310 York St., Suite 200 Blue Island, IL		60406
(Address of principal executive offices)		(Zip Code)

(708) 925-9424

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Not applicable.

Note applicable.

Not applicable.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

As of November 19, 2024, there were 27,918,963 shares of Common Stock, $0.000001 par value per share, issued and outstanding.

Innovative MedTech, Inc.

Form 10-Q

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION		4

Item 1.	Financial Statements (unaudited)	4

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	27

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	29

Item 4.	Controls and Procedures	29

PART II - OTHER INFORMATION		31

Item 1.	Legal Proceedings	31

Item 1A.	Risk Factors	31

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	31

Item 3.	Defaults Upon Senior Securities	31

Item 4.	Mine Safety Disclosures	31

Item 5.	Other Information	31

Item 6.	Exhibits	32

Exhibit Index		32

Signatures		33

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NOTE REGARDING FORWARD-LOOKING STATEMENTS

Unless stated otherwise or the context otherwise requires, the words “we,” “us,” “our,” the “Company,” “Innovative MedTech” or “Innovative” in this Quarterly Report on Form 10-Q collectively refers to Innovative MedTech, Inc., a Delaware corporation (the “Company”), and its subsidiaries. The information in this Quarterly Report on Form 10-Q/A contains “forward-looking statements” relating to the Company, within the meaning of Section 27 as of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

This report contains information that may be deemed forward-looking, that is based largely on the Company’s current expectations, and is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those anticipated.

Among such risks, trends and other uncertainties, which in some instances are beyond its control, may be the Company’s ability to generate cash flows and maintain liquidity sufficient to service its debt, and comply with or obtain amendments or waivers of the financial covenants contained in its credit facilities, if necessary. Other risks and uncertainties include the impact of continuing adverse economic conditions, potential changes in the adult day care industry, energy costs, interest rates and the availability of credit, labor costs, legislative and regulatory rulings and other results of operations or financial conditions, increased capital and other costs, competition and other risks detailed from time to time in the Company’s publicly filed documents.

The words “may”, “will”, “would”, “could”, “believes”, “expects”, “anticipates”, “intends”, “plans”, “projects”, “considers” and similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which are made as of the date of this report. The Company does not undertake to publicly update or revise its forward-looking statements.

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PART I – FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

INNOVATIVE MEDTECH, INC.

(FORMERLY FRESH HARVEST PRODUCTS, INC.)

AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

	September 30, 2024			June 30, 2024
	Unaudited
Assets
Current assets
Cash and cash equivalents	$	174,293		$	113,489
Accounts receivable, net		166,449			160,996
Notes receivable, related party		9,294			9,294
Prepaid expenses		9,088			-
Total current assets		359,124			283,779

Deposits		7,961			7,961
Deposit on business acquisition		540,800			-
Right-of-use asset		249,784			241,210
Finance lease asset, net		10,327			11,475
Property, plant and equipment, net of accumulated depreciation		110,840			107,456
Total Assets	$	1,278,836		$	651,881

Liabilities & Stockholders' Deficit
Current liabilities
Accounts payable and accrued expenses	$	1,463,934		$	1,394,888
Accrued interest		664,770			648,771
Accrued interest, related parties		225,357			203,711
Notes payable, related parties, current		832,773			832,773
Notes payable, current, net of $9,553 and $0 in unamortized discount, respectively		372,859			317,546
Convertible notes payable, current		266,900			266,900
SBA Loan, current		5,145			5,359
Line of credit		71,442			72,810
Derivative liability		200,000			193,557
Finance lease liability		28,334			27,809
Operating lease liability		136,183			144,182
Total current liabilities		4,267,697			4,108,306

Royalty liability		1,500,000			1,500,000
Finance lease liability, non-current		38,530			45,814
Operating lease liability, non-current		118,510			97,886
Notes payable, non-current		62,036			60,048
SBA Loan, non-current		317,765			322,789
Total Liabilities		6,304,538			6,134,843

Commitments and contingencies (Note 14)

Stockholders' Deficit
Series A Preferred stock, $0.000001 par value; 500,000,000 authorized: 367,500 shares issued and outstanding		-			-
Common stock, $0.000001 par value; 130,000,000 shares authorized; 27,918,963 and 23,882,297 shares issued and outstanding as of September 30, 2024 and June 30, 2024, respectively		28			24
Additional paid in capital		40,419,011			39,078,224
Accumulated deficit		(45,444,741	)		(44,561,210	)
Total Stockholders' Deficit		(5,025,702	)		(5,482,962	)
Total Liabilities and Stockholders' Deficit	$	1,278,836		$	651,881

See accompanying notes to unaudited consolidated financial statements.

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INNOVATIVE MEDTECH, INC.

(FORMERLY FRESH HARVEST PRODUCTS, INC.)

AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS


	For the three months ended
	September 30,
	2024			2023
	Unaudited
Revenue:
Participant fees	$	252,571		$	321,490
Franchise fees		175,813			159,218
		428,384			480,708

Operating expenses:
General and administrative		115,427			226,060
Stock-based compensation		28,741			0
Salaries and wages		239,260			293,512
Consulting fees		808,750			53,104
Legal and professional fees		62,950			54,839
Total operating expenses		1,255,128			627,515

Loss from operations		(826,744	)		(146,807	)

Other income (expense):
Interest expense, related parties		(18,639	)		(16,940	)
Interest expense		(29,587	)		(21,863	)
Change in fair value of derivatives		(6,443	)		(24,733	)
Amortization of debt discount		(2,447	)		(8,053	)
Other income		329			53,333
Total other income (expense)		(56,787	)		(18,256	)

Net loss	$	(883,531	)	$	(165,063	)

Basic and diluted earnings per share on net loss	$	(0.03	)	$	(0.01	)

Weighted average shares outstanding - basic and diluted		27,721,161			21,157,327

See accompanying notes to unaudited consolidated financial statements

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INNOVATIVE MEDTECH, INC.

(FORMERLY FRESH HARVEST PRODUCTS, INC.)

AND SUBSIDIARIES

STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT

For the three months ended September 30, 2024 and 2023 (Unaudited)

									Additional
	Series A Preferred Stock				Common Stock				Paid-in		Accumulated			Stockholders'
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit
Balance, June 30, 2024		367,500	$	-		23,882,297	$	24	$	39,078,224	$	(44,561,210	)	$	(5,482,962	)

Stock issued for services		-		-		2,036,666		2		771,248		-			771,250

Stock issued for deposit in joint venture		-		-		2,000,000		2		540,798		-			540,800

Stock-based compensation		-		-		-		-		28,741		-			28,741

Net loss		-		-		-		-		-		(883,531	)		(883,531	)

Balance, September 30, 2024		367,500	$	-		27,918,963	$	28	$	40,419,011	$	(45,444,741	)	$	(5,025,702	)

See accompanying notes to unaudited consolidated financial statements

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INNOVATIVE MEDTECH, INC.AND SUBSIDIARIES

STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT

For the three months ended September 30, 2023

Unaudited

	Series A Preferred Stock				Common Stock				Additional Paid-in		Accumulated			Stockholders'
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit
Balance, June 30, 2023		367,500	$	-		21,157,327	$	21	$	35,313,906	$	(36,622,313	)	$	(1,308,386	)

Warrants issued with notes payable		-		-		-		-		22,849		-			22,849

Net loss		-		-		-		-		-		(165,063	)		(165,063	)

Balance, September 30, 2023		367,500	$	-		21,157,327	$	21	$	35,336,755	$	(36,787,376	)	$	(1,450,600	)

See accompanying notes to unaudited consolidated financial statements

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INNOVATIVE MEDTECH, INC.

(FORMERLY FRESH HARVEST PRODUCTS, INC.)

AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

Unaudited

	For the three months ended
	September 30,
	2024			2023
Cash Flows from Operating Activities
Net Loss	$	(883,531	)	$	(165,063	)

Adjustments to reconcile net loss to net
cash used by operating activities:
Depreciation and amortization		9,319			24,000
Stock-based compensation		28,741			-
Stock issued for services		771,250			-
Amortization of royalty fee liability discount		-			151
Amortization of debt discount		2,447			8,053
Change in fair value of derivatives		6,443			24,733
Amortization of right-of-use		4,050			(24	)
Changes in operating assets & liabilities
Accounts receivable		(5,453	)		(319	)
Prepaid expenses		(9,088	)		750
Deposits		-			(1,245	)
Accounts payable and accrued liabilities		69,046			40,272
Accrued interest, related party		21,646			17,353
Accrued interest		15,999			16,148
Net cash provided (used) by operating activities		30,869			(35,191	)

Cash Flows from Investing Activities
Acquisition of fixed assets		(11,555	)		(95,235	)
Net cash provided (used) by investing activities		(11,555	)		(95,235	)

Cash Flows from Financing Activities
Proceeds from convertible notes payable		-			150,000
Proceeds from notes payable		80,000			81,729
Payments on SBA loan		(5,238	)		(5,238	)
Payments on convertible notes payable		-			-
Payments on notes payable		(25,145	)		-
Proceeds from line of credit		-			20,000
Payments on line of credit		(1,368	)		(1,593	)
Payments on finance lease		(6,759	)		(15,399	)
Net cash provided (used) by financing activities		41,490			229,499

Increase in Cash and cash equivalents		60,804			99,073

Cash and cash equivalents at beginning of period		113,489			157,589

Cash and equivalents at end of period	$	174,293		$	256,662

Supplemental Cash Flow Information
Cash paid for interest	$	-		$	9,500
Cash paid for income taxes	$	-		$	-

Non-cash investing and financing activities:
Common stock issued for deposit on business acquisition	$	540,800		$	-
Right-of-use asset and operating lease liability	$	60,115		$	-

See accompanying notes to unaudited consolidated financial statements.

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INNOVATIVE MEDTECH, INC.

AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDING SEPTEMBER 30, 2024

(UNAUDITED)

NOTE 1. GENERAL ORGANIZATION AND BUSINESS

Innovative MedTech, Inc. (the “Company”), a Delaware corporation, is a provider of health and wellness services, and has two divisions: technology and devices and Adult Day Services. The Company’s technology and devices division has signed a distribution agreement with 2 products: a high detection vein visualization device and an Oral Thrush product, and the Company’s wholly owned subsidiary SarahCare, an adult day care franchisor with 25 centers (1 corporate and 24 franchise locations) located in 13 states. SarahCare offers seniors daytime care and activities focusing on meeting their physical and medical needs on a daily basis, and ranging from nursing care to salon services and providing meals, to offering engaging and enriching activities to allow them to continue to lead active and engaged lives.

On or about April 16, 2024, the Company entered into a distribution agreement (the "Agreement") with Near Infrared Imaging, Inc. ("NII") for Vein-Eye Carry, a patent-pending vein illumination technology which employs advanced optics and real-time imaging to precisely identify veins, reducing the need for multiple attempts and enhancing procedural accuracy. The Agreement gives the Company the non-exclusive right to distribute NII's product(s) with no limitations on the territory. NII's Vein-Eye Carry is a Class 1, 510-k exempt medical device, is TAA and FAR compliant, and is designed, engineered and manufactured in the U.S. The Vein-Eye Carry is lightweight and portable and can be successfully carried into a home, up flights of stairs, carried into a clinic nursing home, placed in an ambulance or another emergency medical vehicle.

On or about May 17, 2024, the Company entered into an Exclusive License Agreement (the “Exclusive License Agreement”) with Shear Kershman Labs, a Missouri corporation (“SKL”). SKL has developed Oral Thrush, a mouth wash that treats oral thrush, a condition in which a fungus, Candida albicans, accumulates on the lining of the mouth and sometimes overgrows and causes symptoms, such as creamy white lesions, usually on the tongue or inner cheeks. Under the Exclusive License Agreement, SKL will form a subsidiary to distribute Oral Thrush, the Company shall become an 80% owner of the subsidiary, and the Company issued 2,000,000 shares of the Company’s Common Stock to SKL.

NOTE 2. LIQUIDITY, CAPITAL RESOURCES AND GOING CONCERN

The accompanying consolidated financial statements have been prepared on a going-concern basis, which contemplates the continuation of operations, realization of assets and liquidation of liabilities in the ordinary course of business.

For the three months ended September 30, 2024 and 2023, the Company reported a net loss of $883,531 and $165,063, respectively.

As of September 30, 2024, the Company maintained total assets of $1,278,836, total liabilities including long-term debt of $6,304,538 along with an accumulated deficit of $45,444,741.

The Company continues to have limited capital resources and has experienced net losses and negative cash flows from operations and expects these conditions to continue for the foreseeable future. As of September 30, 2024, the Company had $174,293 cash available for operations and had an accumulated deficit of $45,444,741. Management believes that cash on hand as of September 30, 2024 is not sufficient to fund operations through June 30, 2025. The Company will be required to raise additional funds to meet its short and long-term planned goals. There can be no assurance that such funds, if available at all, can be obtained on terms reasonable to the Company.

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The Company believes that additional capital will be required to fund operations through June 30, 2025 and beyond, as it attempts to generate increasing revenue, and develop new products. The Company intends to attempt to raise capital through additional equity offerings and debt obligations. There can be no assurance that the Company will be successful in obtaining financing at the level needed or on terms acceptable to the Company. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of and for the three months ended September 30, 2024 and 2023. The three months are not indicative of the year that will be ending June 30, 2025.

Principles of Consolidation

The Company has two wholly-owned operating subsidiaries; Sarah Adult Day Services, Inc., and Sarah Day Care Centers, Inc., along with non-operating subsidiaries consisting of the 6 formed limited liability companies formed for the additional SarahCare location leases. The consolidated financial statements, which include the accounts of the Company and its two wholly-owned subsidiaries, are prepared in conformity with GAAP pursuant to the rules and regulations of the SEC. All significant intercompany balances and transactions have been eliminated. The consolidated financial statements have been prepared using the accrual basis of accounting in accordance with GAAP and presented in US dollars. The fiscal year end is June 30.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported revenues and expenses during the reporting periods. Because of the use of estimates inherent in the financial reporting process, actual results may differ significantly from those estimates.

Cash and Cash Equivalents

The Company maintains cash balances in a non-interest-bearing account that does not exceeds $250,000 at September 30, 2024. For the purpose of the consolidated financial statements, all highly liquid investments with a maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of September 30, 2024 and 2023.

Earnings Per Share Calculation

Basic earnings per common share (“EPS”) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. There are 1,084,366,651 of Common Stock Equivalents (“CSE”) not included in the diluted per share because they are considered anti-dilutive.

Intangible Assets

Certain intangible assets arose from the acquisition of Sarah Adult Day Services, Inc., and Sarah Day Care Centers, Inc. on March 25, 2021 and consist of the following, which have been or are being amortized on a straight-line basis over the following estimated useful lives unless they have an indefinite life:

Asset	Estimated Useful Life
Customer Relationships		3
Trademarks		Indefinite
Non-Compete Agreement		3
CARF Accreditation		3
Franchise Agreements		Indefinite

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An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value. In testing for impairment, the Company has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Company concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted. For the three months ended September 30, 2024 and 2023, there were no impairment losses. As of June 30, 2024, the Company recorded an impairment expense of intangible assets of $3,123,204.

Revenue Recognition

Revenue is recognized when a customer obtains services. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.

The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the services it provides to the customer. Once a contract is determined to be within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct.

Patient Fees

Participant fee revenue is reported at the amount that reflects the consideration the Company expects to receive in exchange for the services provided. These amounts are due from participants or third-party payors and include variable consideration for retroactive adjustments from estimated reimbursements, if any, under reimbursement programs. Performance obligations are determined based on the nature of the services provided. Resident fee revenue is recognized as performance obligations are satisfied.

Under the Company’s day care agreements, which are generally for a contractual term of 30 days to one year, the Company provides services to participants for a stated daily or monthly fee. The Company has elected the lessor practical expedient within ASC 842, Leases (“ASC 842”) and recognizes, measures, presents, and discloses the revenue for services under the Company’s senior living residency agreements based upon the predominant component, either the lease or nonlease component, of the contracts. The Company has determined that the services included under the Company’s independent living, assisted living, and memory care residency agreements have the same timing and pattern of transfer and are performance obligations that are satisfied over time. The Company recognizes revenue under ASC 606, Revenue Recognition from Contracts with Customers (“ASC 606”) for its participants agreements for which it has estimated that the nonlease components of such agreements are the predominant component of the contract.

The Company enters into contracts to provide home assisted health, and certain outpatient services. Each service provided under the contract is capable of being distinct, and thus, the services are considered individual and separate performance obligations. The performance obligations are satisfied as services are provided and revenue is recognized as services are provided.

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The Company receives payment for services under various third-party payor programs which include Medicaid, Veterans Affairs and other third-party payors. Estimates for settlements with third-party payors for retroactive adjustments from estimated reimbursements due to audits, reviews, or investigations are included in the determination of the estimated transaction price for providing services. The Company estimates the transaction price based on the terms of the contract with the payor, correspondence with the payor, and historical payment trends. Changes to these estimates for retroactive adjustments are recognized in the period the change or adjustment becomes known or when final settlements are determined.

Billings for services under third-party payor programs are recorded net of estimated retroactive adjustments, if any. Retroactive adjustments are accrued on an estimated basis in the period the related services are rendered and adjusted in future periods or as final settlements are determined. Contractual or cost related adjustments from Medicaid or Veterans Affairs are accrued when assessed (without regard to when the assessment is paid or withheld). Subsequent adjustments to these accrued amounts are recorded in net revenues when known.

Franchise Fees

The Company franchises a number of its locations under franchise contracts which provide periodic franchise fee payments to the Company and reimbursement for costs and expense related to such franchises. The Company’s franchisees pay a variety of royalties and fees, including an agreed upon percentage of gross revenues (as defined in the franchise agreement). The Company estimates the amount of franchise fee revenue expected to be earned, if any, during the annual contract period and revenue is recognized as services are provided. The Company’s estimate of the transaction price for the franchise services also includes the amount of reimbursement due from the franchises for services provided and related costs incurred.

SarahCare, as the franchisor, supplies the franchisee’s with initial assistance and approval with the following: (1) Providing the site selection criteria for the SARAH Business and, upon a potential franchisee’s request, provide input regarding possible sites. The Company does not own and lease any site to franchisees. After the franchise selects and the Company approves a site, the Company will designate the geographic area within which they may establish the SARAH Business; (2) Approve the signage; (3) Identify the standards and specifications for products, services, and materials that comply with the System, and, if the Company requires, the approved suppliers of these items. The Company will furnish a potential Franchisee with the listing of the package of initial franchise items as detailed in the Operations Manual. Neither the Company or its affiliate provide, deliver, or install any of these items; (4) Provide an Initial Training Program; and (5) Provide an Operations Training Program.

Once the Franchisee’s SarahCare business is operational, the Company will: (1) Issue and modify System standards for SARAH Businesses; (2) Provide access to a copy of the Company’s Operations Manual as they make available through our intranet. The Operations Manual contains mandatory and suggested specifications, standards and operating procedure; (3) Provide additional or special guidance and assistance and training as the Company deem appropriate and for which a potential Franchisee are financially responsible; (4) Inspect and observe the operation of the SARAH Business to help a potential Franchisee comply with the Franchise Agreement and all System standards; (5) Let the Franchisee use the confidential information; and, (6) Let the Franchisee use the Marks (trademarks, trade names, service marks, and logos).

Income Taxes

The provision for income taxes is the total of the current taxes payable and the net of the change in the deferred income taxes. Provision is made for the deferred income taxes where differences exist between the period in which transactions affect current taxable income and the period in which they enter into the determination of net income in the financial statements.

Leases

The Company accounts for leases in accordance with Accounting Standards Update (ASU) 2016-02, “Leases” (Topic 842). Based on this standard, the Company determines if an agreement is a lease at inception. Leases are included – right to use, current portion of lease liability, and operating lease liability, less current portion in the Company’s consolidated balance sheets. Finance leases are included in property, plant and equipment, net current portion of long-term debt, net and long-term debt, less current portion and debt issuance costs in the Company’s consolidated balance sheets.

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Fair value of financial instruments

The Company’s financial instruments include cash and cash equivalents, accounts payable, accrued expenses, and debt. The carrying value of these financial instruments is considered to be representative of their fair value due to the short maturity of these instruments. The carrying amount of the debt approximates fair value, because the interest rates on these instruments approximate the interest rate on debt with similar terms available to the Company. The Company’s derivative liabilities were adjusted to fair market value at the end of each reporting period, using Level 3 inputs.

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, as follows:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities.

The carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts payable, accrued expenses and interest, certain notes payable and notes payable – due to related parties, approximate their fair values because of the short maturity of these instruments. The Company accounts for its derivative liabilities, at fair value, on a recurring basis under Level 3 (See Note 11).

Embedded Conversion Features

The Company evaluates embedded conversion features within convertible debt under ASC 815 “Derivatives and Hedging” to determine whether the embedded conversion feature(s) should be bifurcated from the host instrument and accounted for as a derivative at fair value with changes recorded in earnings. If the conversion feature does not require derivative treatment under ASC 815, the instrument is evaluated under ASC 470-20 “Debt with Conversion and Other Options” for consideration of any beneficial feature.

Derivative financial instruments

When the Company issues debt that contains a conversion feature, it first evaluates whether the conversion feature meets the requirements to be treated as a derivative: a) one or more underlying, typically the price of the Company’s stock; b) one or more notional amounts or payment provisions or both, generally the number of shares upon conversion; c) no initial net investment, which typically excludes the amount borrowed; and d) net settlement provisions, which in the case of convertible debt generally means the stock received upon conversion can be readily sold for cash. There are certain scope exceptions from derivative treatment, but these typically exclude conversion features that provide for a variable number of shares.

If the conversion features within convertible debt meet the requirements to be treated as a derivative, the Company estimates the fair value of the derivative liability using the Monte Carlo Simulation Model upon the date of issuance. If the fair value of the derivative liability is higher than the face value of the convertible debt, the excess is immediately recognized as interest expense. Otherwise, the fair value of the derivative liability is recorded as a liability with an offsetting amount recorded as a debt discount, which offsets the carrying amount of the debt. The derivative liability is revalued at the end of each reporting period and any change in fair value is recorded as a change in fair value in the consolidated statements of operations. The debt discount is amortized through interest expense over the life of the debt. Derivative instrument liabilities and the host debt agreement are classified on the consolidated balance sheets as current or non-current based on whether settlement of the derivative instrument could be required within twelve months of the balance sheet date.

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The accounting treatment of derivative financial instruments requires that the Company record the embedded conversion option at their fair values as of the inception date of the agreement and at fair value as of each subsequent balance sheet date. Any change in fair value is recorded as non-operating, non-cash income or expense for each reporting period at each balance sheet date. The Company reassesses the classification of its derivative instruments at each balance sheet date. If the classification changes as a result of events during the period, the contract is reclassified as of the date of the event that caused the reclassification. As a result of entering into warrant agreements, for which such instruments contained a variable conversion feature with no floor, the Company has adopted a sequencing policy in accordance with ASC 815-40-35-12 “Derivatives and Hedging” (provides comprehensive guidance on derivative and hedging transactions) whereby all future instruments may be classified as a derivative liability with the exception of instruments related to share-based compensation issued to employees or directors.

Debt Issue Costs and Debt Discount

The Company may record debt issue costs and/or debt discounts in connection with raising funds through the issuance of debt. These costs may be paid in the form of cash, or equity (such as warrants). These costs are amortized to interest expense over the life of the debt. If a conversion of the underlying debt occurs, a proportionate share of the unamortized amounts is immediately expensed.

Reclassification of Presentation

Certain prior year amounts have been reclassified to conform with current year presentation. These reclassifications had no effect on the reported results of operations.

Recently Issued Accounting Pronouncements

The Company does not expect any of the recently issued accounting pronouncements to have a material impact on its financial condition or results of operations for the quarter ended as of September 30, 2024 or on a going forward basis.

Subsequent Events

In accordance with ASC 855, Subsequent Events, the Company evaluated subsequent events through the date of this report; the date the consolidated financial statements were available for issue.

NOTE 4. NOTES RECEIVABLE, RELATED PARTIES

The Company has several notes receivables from a related party. They are as follows:

	September 30, 2024		June 30, 2024

Notes receivable from related party (see Note 17), due in three months, with no installments, no interest, and in default as of March 2022		9,294		9,294
Total notes receivable		9,294		9,294
Less long-term		-		-
Total short term notes receivable	$	9,294	$	9,294

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NOTE 5. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at September 30, 2024 and June 30, 2024

	September 30,			June 30,
	2024			2024

Leasehold improvements	$	20,077		$	20,077
Vehicles		130,135			130,135
Computer equipment		25,048			13,493
Furniture and fixtures		3,046			3,046
		178,306			166,751
Less: Accumulated depreciation		(67,466	)		(59,295	)
Property, plant and equipment - net	$	110,840		$	107,456

Depreciation expense was $8,171 and $16,911 for the three months ended September 30, 2024 and 2023, respectively.

NOTE 6. NOTES PAYABLE

As of September 30, 2024 and June 30, 2024, the Company had $434,895 and $377,594, respectively, in outstanding notes payable, as following:

			Original					Principal Balance as of
		Date of Note	Principal		Maturity	Interest		September 30,			June 30,
Ref No.		Issuance	Balance		Date	Rate (%)		2024			2024
	1	9/16/06	$	100,000	*		12	$	38,000		$	38,000
	2	12/25/20		146,021	8/15/25		10		30,307			38,572
	3	2/24/14		5,000	*		9		8,547			8,547
	4	2/24/14		39,000	*		9		33,687			33,687
	5	2/24/14		179,124	*		9		33,697			33,697
	6	7/1/23		90,985	5/5/28		9		70,560			75,091
	7	8/21/23		150,000	*		12		148,000			150,000
	8	7/30/24		40,250			14		40,250			-
	9	7/30/24		51,750			12		41,400			-
	Less: Unamortized	discount							(9,553	)
		Total						$	434,895		$	377,594
		Total Current						$	372,859		$	317,546
		Total Long Term						$	62,036		$	60,048

________

* As of September 30, 2024, these notes are in default.

	Amount Owed
Year Ended June 30, 2025		378,049
Year Ended June 30, 2026		26,422
Year Ended June 30, 2027		20,157
Year Ended June 30, 2028		19,820
Total future payments		444,488

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On July 30, 2024, the Company entered into a Promissory Note Agreement with a lender in the amount of $40,250, at an interest rate of 14% and a maturity date of May 30, 2025. If the Company defaults, then the Notes have a conversion price at the lower of of $0.01 or a 29% discount to the lowest trading price for the 10 prior trading days to the conversion date.

On July 30, 2024, the Company entered into a Promissory Note Agreement with a lender in the amount of $51,750, at an interest rate of 12% and a maturity date of May 30, 2025. If the Company defaults, then the Notes have a conversion price at the lower of of $0.01 or a 29% discount to the lowest trading price for the 10 prior trading days to the conversion date.

NOTE 7. NOTES PAYABLE, RELATED PARTIES

As of September 30, 2024 and June 30, 2024, the Company had $832,773 and $832,773 respectively, in outstanding notes payable, related parties. As of September 30, 2024 and June 30, 2024, the Company had $225,357 and $203,711, respectively, in accrued interest related to these notes. Some of these notes were assumed in connection with the acquisition on March 25, 2021.

Ref No. Note			Date of	Original Principal		Maturity	Interest			Principal		Principal
Issuance			Issuance	Rate %		Date	Rate %			Balance 9/30/24		Balance 6/30/24
	1	*	3/25/21		308,500	6/3/21		10	%	$	308,500	$	308,500
	2	*	3/25/21		47,436	6/3/21		10	%		47,436		47,436
	3	*	3/25/21		158,503	6/3/21		10	%		158,502		158,502
	4	*	3/24/22		39,000	9/24/22		6	%		39,000		39,000
	5	*	5/5/22		179,124	11/5/22		6	%		179,124		179,124
	6	*	10/5/22		20,000	4/5/23		6	%		20,000		20,000
	7	*	11/9/22		500	5/9/23		6	%		500		500
	8	*	11/18/22		4,000	5/18/23		6	%		4,000		4,000
	9	*	1/17/23		18,000	7/17/23		6	%		18,000		18,000
	10	*	2/8/23		27,000	8/8/23		6	%		27,000		27,000
	11	*	4/28/23		650	10/28/23		6	%		650		650
	12	*	5/16/23		900	11/16/23		6	%		900		900
	13	*	5/30/23		875	11/30/23		6	%		875		875
	14	*	5/21/23		410	11/31/23		6	%		410		410
	15	*	6/29/23		875	12/29/23		6	%		875		875
	16	*	1/12/24		5,000	7/12/24		6	%		5,000		5,000
	17	*	1/16/24		7,000	7/16/24		6	%		7,000		7,000
	18	*	2/21/24		10,000	8/21/24		6	%		10,000		10,000
	19		4/1/24		5,000	10/1/24		6	%		5,000		5,000
			Total							$	832,773	$	832,773

* As of September 30, 2024, these notes are in default.

The above amounts and terms are not necessarily what third parties would agree to.

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NOTE 8. CONVERTIBLE NOTES PAYABLE

As of September 30, 2024 and June 30, 2024, the convertible notes payable were as follows:

Date of Note Issuance	Original Principal Balance		Maturity Date	Interest Rate %			Conversion Rate		Principal Balance 9/30/24		Principal Balance 6/30/24
8/26/14		50,000	*		10	%	$	0.0001	$	50,000	$	50,000
6/15/12		8,000	*		10	%	$	0.000350		8,000		8,000
10/18/11		1,900	*		8	%	25% discount to market			6,900		6,900
10/3/10		20,000	*		10	%	lesser $0.01 or 20% discount to market			20,000		20,000
10/31/09		4,000	*		8	%	25% discount of previous 5 days closing price			4,000		4,000
2/26/07		30,000	*		12	%	lesser $0.50 or 35% discount to market			30,000		30,000
4/17/07		20,000	*		10	%	lesser $0.45 or 35% discount to market			20,000		20,000
6/14/07		15,000	*		10	%	lesser $0.50 or 25% discount to market			15,000		15,000
1/29/07		15,000	*		10	%	$	0.95		15,000		15,000
4/17/07		15,000	*		10	%	lesser $0.45 or 35% discount to market			15,000		15,000
12/23/06		18,000	*		10	%	$	0.95		18,000		18,000
11/30/06		50,000	*		10	%	$	0.85		50,000		50,000
10/1/05		15,000	*		10	%	$	0.50		15,000		15,000
Total Current									$	266,900	$	266,900

* As of September 30, 2024, these notes are in default.

NOTE 9. SBA LOAN

On June 25, 2020 and January 6, 2022, the Company’s wholly-owned subsidiary, Sarah Day Care Centers, Inc. received proceeds of $150,000 and $200,000

, respectively, in the form of an SBA loan. Installment payments, including principal and interest of $1,746 are due monthly beginning on December 22, 2021. The balance of principal and interest is payable thirty years from the promissory note date. The interest accrues at a rate of 3.75% per annum. During the three months ended September 30, 2024 and 2023, the Company recorded $0 and $3,273 in accrued interest related to the SBA loan.

	Amount Owed

Year Ended June 30, 2025	$	6,829
Year Ended June 30, 2026		7,089
Year Ended June 30, 2027		7,360
Year Ended June 30, 2028		7,641
Year Ended June 30, 2029		7,932

Payments 2030 & Thereafter		286,059
Total Payments	$	322,910

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NOTE 10. DERIVATIVE FINANCIAL INSTRUMENTS

The following tables summarize the components of the Company’s derivative liabilities and linked common shares.

	September 30, 2024
	Indexed		Fair
The financings giving rise to derivative financial instruments	Shares		Values
Compound embedded derivative		1,461,911	$	200,000

	June 30, 2024
	Indexed		Fair
The financings giving rise to derivative financial instruments	Shares		Values
Compound embedded derivative		818,753	$	193,557

The following tables summarizes the effects on the Company’s gain (loss) associated with changes in the fair values of the derivative financial instruments by type of financing for the three months ended September 30, 2024 and 2023:

The financings giving rise to derivative financial instruments and the income effects:

	Three Months Ended
	September 30,			September 30,
	2024			2023
Compound embedded derivative	$	(6,443	)	$	(24,733	)
Day one derivative loss		-			-
Total derivative gain (loss)	$	(6,443	)	$	(24,733	)

The Company’s convertible notes gave rise to derivative financial instruments. The notes embodied certain terms and conditions that were not clearly and closely related to the host debt agreement in terms of economic risks and characteristics. These terms and features consist of the embedded conversion option.

Current accounting principles that are provided in ASC 815 – Derivatives and Hedging require derivative financial instruments to be classified in liabilities and carried at fair value with changes recorded in income. In addition, the standards do not permit an issuer to account separately for individual derivative terms and features embedded in hybrid financial instruments that require bifurcation and liability classification as derivative financial instruments. Rather, such terms and features must be bundled together and fair valued as a single, compound embedded derivative. The Company has selected the Monte Carlo Simulations valuation technique to fair value the compound embedded derivative because it believes that this technique is reflective of all significant assumption types, and ranges of assumption inputs, that market participants would likely consider in transactions involving compound embedded derivatives. Such assumptions include, among other inputs, interest risk assumptions, credit risk assumptions and redemption behaviors in addition to traditional inputs for option models such as market trading volatility and risk-free rates. The Monte Carlo Simulations technique is a level three valuation technique because it requires the development of significant internal assumptions in addition to observable market indicators.

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Significant inputs and results arising from the Monte Carlo Simulations process are as follows for the compound embedded derivative that has been bifurcated from the Convertible Notes and classified in liabilities:

	Inception			September 30, 2024			June 30, 2024
Quoted market price on valuation date	$	0.01		$	0.2975		$	0.40
Contractual conversion rate	$	0.0054 - $0.0081		$	0.19 – 0.23		$	0.338 - $0.556
Range of effective contractual conversion rates		-						-
Contractual term to maturity	1.00 Year			0.25 Years			0.25 Years
Market volatility:
Volatility		138.28%-238.13	%		138.28%-238.13	%		138.28%-238.13	%
Contractual interest rate		5%-12	%		5%-12	%	5%-12		%

The following table reflects the issuances of compound embedded derivatives and changes in fair value inputs and assumptions related to the compound embedded derivatives during the three months ended September 30, 2024 and the year ended June 30, 2024.

	September 30, 2024		June 30, 2024
Beginning balance	$	193,557	$	201,607
Issuances:
Convertible Note Financing		-		-
Removals		-		-
Changes in fair value inputs and assumptions reflected		6,443		(8,050	)
Conversions		-		-
Ending balance	$	200,000	$	193,557

The fair value of the compound embedded derivative is significantly influenced by the Company’s trading market price, the price volatility in trading and the interest components of the Monte Carlo Simulation technique.

NOTE 11. STOCKHOLDERS’ DEFICIT

On or about April 26, 2022, the Company entered into an Agreement for Share Exchange (the “Share Exchange Agreement”) to obtain 10,500,000 shares of common stock of Vitality RX, Inc., a Delaware corporation (“Vitality”), representing 100% ownership of Vitality, from Vitality’s five shareholders identified in the Share Exchange Agreement (the “Vitality Shareholders”), in consideration of the issuance by the Company to the Vitality Shareholders of 5,500,000 shares of Innovative common stock, and 50,000 shares of Series A Convertible Preferred Stock (which preferred stock is convertible into 5,000,000 shares of common stock) (such shares of common stock and preferred stock collectively the “Shares”). On or about April 28, 2022, the transaction closed, Innovative received the stock of Vitality from the Vitality Shareholders, and issued the Shares to the Vitality Shareholders. The Company determined that Vitality did not meet the definition of a business under Accounting Standards Codification (“ASC”) 805 Business Combinations, as such, the issuance of shares was treated as stock-based compensation expense.

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Common Stock

On or about September 11, 2024, the Company issued 2,000,000 common shares, par value, $0.000001 per share, to shareholders of Shear Kershman Labs for the Exclusive License Agreement entered into with the Company.

On or about September 11, 2024, the Company issued 2,036,666 common shares, par value, $0.000001 per share, to several consultants for consulting services and their expertise in technology, financial services and media.

On or about April 12, 2024, the Company issued 1,134,242 common shares, par value, $0.000001 per share, to several consultants for consulting services and their expertise in technology, financial services and media.

On March 7, 2024, the Company issued 1,590,728 restricted common shares, par value, $0.000001 per share, to 6 Board of Advisor Members and 7 consultants to the Company.

On August 21, 2023 the Company issued a Note (Note 7, Ref #7) which included 100,000 warrants to purchase common stock at a strike price of $0.10 per share, par value, $0.000001 per share. The warrants have an expiration date of August 21, 2028.

Conversion of Notes Payable to Common Shares

On April 4, 2024, one Noteholders converted two notes for a total of $11,350 of convertible promissory notes into 50,075 common shares of the Company,

Series A Convertible Preferred Stock

As of June 30, 2024, the Company had 500,000,000 authorized shares of Series A Convertible Preferred Stock, par value, $0.000001 per share. Each share of Series A Convertible Preferred Stock is convertible into 100 shares of the Company’s common stock.

Series A Preferred Stock – Certificate of Designations

The Preferred Shares each have Certificate of Designations, which designate as follows:

Number

500,000,000 shares of the Parent Company’s Preferred Stock are designated as shares of Series A Convertible Preferred Stock, par value $0.000001 per share.

Dividends

Any dividends (other than dividends on common stock payable solely in common stock or dividends on the Series A Convertible Preferred Stock payable solely in Series A Convertible Preferred Stock or dividends on the Series B Preferred Convertible Stock payable solely in Series B Convertible Preferred Stock) declared or paid in any fiscal year will be declared or paid among the holders of the Series A Convertible Preferred Stock, Series B Convertible Preferred Stock and common stock then outstanding in proportion to the greatest whole number of shares of common stock which would be held by each such holder if all shares of Series A Preferred Stock and Series B Convertible Preferred Stock were converted into shares of common stock pursuant to the terms of the Certificate of Designations. The Parent Company’s Board of Directors is under no obligation to declare dividends on the Series A Convertible Preferred Stock or Series B Convertible Preferred Stock.

Conversion

Each share of Preferred Stock is convertible into 100 shares of the Parent Company’s common stock (the “Conversion Rate”).

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Liquidation

In the event of any liquidation, dissolution or winding up of the Parent Company, the assets of the Parent Company legally available for distribution by the Parent Company would be distributed with equal priority and pro rata among the holders of the Preferred Stock and common stock in proportion to the number of shares of common stock held by them, with the shares of Preferred Stock being treated for this purpose as if they had been converted to shares of common stock at the then applicable Conversion Rate.

Voting

On any matter presented to the stockholders of the Parent Company for their action or consideration at any meeting of stockholders of the Parent Company (or by written consent of stockholders in lieu of meeting), each holder of outstanding shares of Preferred Stock would be entitled to cast the number of votes equal to the number of whole shares of common stock into which the shares of Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on such matter. Except as provided by law or by the other provisions of the Parent Company’s Certificate of Incorporation, holders of Preferred Stock vote together with the holders of common stock as a single class.

NOTE 12. PROVISION FOR CORPORATE INCOME TAXES

The Company provides for income taxes by the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. This also requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The valuation allowance at September 30, 2024 was $11,394,318 and as of June 30, 2024 was $11,164,600. The net change in allowance during the quarters ended September 30, 2024 and 2023 was $4,009,262 and $590,629, respectively.

As of September 30, 2024, the Company has federal net operating loss carry forwards of approximately $43,824,300 available to offset future taxable income through 2040. The Company may be able to utilize its NOLs to reduce future federal and state income tax liabilities. However, these NOLs are subject to various limitations under Internal Revenue Code (“IRC”) Section 382. IRC Section 382 limits the use of NOLs to the extent there has been an ownership change of more than 50 percentage points. In addition, the NOL carry-forwards are subject to examination by the taxing authority and could be adjusted or disallowed due to such exams. Although the Company has not undergone an IRC Section 382 analysis, it is possible that the utilization of the NOLs could be substantially limited. The Company has no tax provision for the three months ended September 30, 2024 and 2023 due to losses and full valuation allowances against net deferred tax assets.

As of September 30, 2024 and 2023, the difference between the tax provision at the statutory federal income tax rate and the tax provision attributable to loss before income taxes is as follows (in percentages):

Statutory federal income tax rate	(21	)%
State taxes – net of federal benefits	(5	)%
Valuation allowance	26	%
Income tax rate – net	0	%

FASB Interpretation No. 48 (Fin 48) - Accounting for Uncertain Tax Positions

The Company files income tax returns in the U.S. federal jurisdiction and various state, and local jurisdictions. The Company is no longer subject to U.S. federal income tax examination by tax authorities, with limited exception, for the quarters prior to December 31, 2014. With respect to state and local jurisdictions, with limited exception, the Company is no longer subject to income tax audits prior to December 31, 2014. In the normal course of business, the Company is subject to examination by various taxing authorities. Although the outcome of tax audits is always uncertain, the Company believes that adequate amounts of tax, interest and penalties have been provided for any adjustments that may result from these open tax years.

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Based on management’s review of the Company’s tax position, the Company had no significant unrecognized corporate tax liabilities as of September 30, 2024 and June 30, 2024 payable to the Internal Revenue Service due to the net operating loss carry-forward, however, the Company had yet to file its 2005 through 2009 and 2012 through 2021 Federal, New Jersey nor New York Corporate Income Tax Returns.

NOTE 13. UNPAID PAYROLL TAXES

As of September 30, 2024 and June 30, 2024, the Company owed the Internal Revenue Service and New York State payroll related taxes in the amounts of $60,402 and $17,401, respectively, subject to further interest and penalties. The total amount due to both taxing authorities including penalties and interest as of September 30, 2024 and June 30, 2024 was approximately $77,803 subject to further penalties and interest. This is included in accounts payable and accrued expenses on the Company’s consolidated balance sheets.

IRS Tax Lien

The Internal Revenue Service has placed a federal tax lien on all of the assets of the Company.

NOTE 14. COMMITMENTS AND CONTINGENCIES

Rent

As of September 30, 2024, the Company maintains its corporate address in at 2310 York Street, Suite 200, Blue Island, IL, 60406. This space is provided by the Company’s Chairman, Charles Everhardt, a related party, on a rent free basis at the present time. The Company does not currently have a lease for this space but expects to enter into a month-to-month office lease for this space.

SarahCare leases two properties for its corporate office and its one corporate owned centers. SarahCare’s lease for its first corporate-owned SarahCare location is for approximately 5,300 square feet located at 6199 Frank Ave. NW, North Canton, Ohio, 44720. The lease began in 2018 and ends in 2026.

SarahCare’s lease for its second corporate-owned SarahCare location is for approximately 6,000 square feet located at SarahCare of Stow, 4472 Darrow Road, Stow, Ohio, 44224. The lease began in 2018 and ends in 2026. SarahCare closed this location in April 2024. The Company is currently negotiating with the landlord to find a new tenant and to repay the remaining amounts due on this lease.

SarahCare

The Company is currently in default under its payment obligations in connection with the acquisition of SarahCare. The Company has $1.5 Million Dollars on its balance sheet for the payment obligation due SarahCare, for the years ending June 30, 2024 and June 30, 2023. The Company is involved in a lawsuit with the original shareholders of SarahCare, who are seeking $1,841,537 in damages, plus interests, costs and attorney fees; this amount includes the original $1.5 Million. The Company intends to vigorously defend itself in this matter, and believes that the likelihood of a negative outcome is considered to be remote.

NOTE 15. LEASES

Operating Leases

Stow Professional Lease

In connection with the acquisition of Sarah Adult Day Centers, Inc. on March 25, 2021, the Company acquired a facilities lease with 6,000 square feet at 4472 Darrow Road, Stow, Ohio 44224. The lease expires on December 31, 2025 and the lease payments are as follows:

	Monthly Rent Payments
	Base Rent		Covid-19 Recoup*		Total Rent
April 1, 2021	$	6,369	$	983	$	7,352
May 1, 2021 to December 31, 2021	$	6,369	$	621	$	6,990
January 1, 2022 to December 31, 2022	$	6,433	$	621	$	7,054
January 1, 2023 to December 31, 2023	$	6,497	$	621	$	7,118
January 1, 2024 to December 31, 2024	$	6,562	$	621	$	7,183
January 1, 2025 to December 31, 2025	$	6,628	$	621	$	7,249

________

*The Company has to repay the lessor monthly payments as a result of COVID relief.

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Harbor Lease

In connection with the acquisition of Sarah Adult Day Centers, Inc. on March 25, 2021, the Company acquired a facilities lease with 3,469 square feet at 4580 Stephen Circle NW. Canton, OH 44718. The monthly lease payments are $4,500 and the lease expires on December 31, 2023.

In connection with the acquisition of Sarah Day Care Centers, Inc. on March 25, 2021, the Company acquired a facilities lease with 5,300 square feet in Jackson, Ohio. The monthly lease payments are $7,910, which includes monthly payments of $603 as repayments for COVID relief. The lease expires on July 1, 2026.

S. Frank Professional Lease

Operating lease right-of-use asset and liability are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value is the incremental borrowing rate, estimated to be 10%, as the interest rate implicit in most of the Company’s leases is not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. Since the common area maintenance expenses are expenses that do not depend on an index or rate, they are excluded from the measurement of the lease liability and recognized in general and administrative expenses on the consolidated statements of operations.

Right-of-use asset is summarized below:

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Office lease	$	282,371		$	412,770		$	60,115		$	755,256
Less: accumulated amortization		(240,601	)		(253,045	)		(11,826	)		(505,472	)
Right-of-use asset, net	$	41,770		$	159,725		$	48,289		$	249,784

Right-of-use asset is summarized below:

	June 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Total
Office lease	$	282,371		$	412,770		$	695,141
Less: accumulated amortization		(220,493	)		(233,438	)		(453,931	)
Right-of-use asset, net	$	61,878		$	179,332		$	241,210

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Operating lease liability is summarized below:

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Office lease	$	42,405		$	159,725			52,560		$	254,690
Less: current portion		(42,405	)		(83,500	)		(10,275	)		(136,180	)
Long term portion	$	-		$	76,225			42,285		$	118,510

Operating lease liability is summarized below:

	June 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Total
Office lease	$	62,733		$	179,333		$	242,066
Less: current portion		(62,733	)		(81,447	)		(144,180	)
Long term portion	$	-		$	97,886		$	97,886

Maturity of the lease liability is as follows:

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Finance leases

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Year ending June 30, 2025	$	43,293		$	71,192		$	11,208		$	125,693
Year ending June 30, 2026					94,923			14,944			109,867
Year ending June 30, 2027					7,910			15,941			23,851
Year ending June 30, 2028								16,440			16,440
Year ending June 30, 2029		-						5,480			5,480
Total future minimum lease payments		43,293			174,025			64,013			281,331
Present value discount		(888	)		(14,300	)		(11,453	)		(26,641	)
Lease liability	$	42,405		$	159,725			52,560		$	254,690

Commencing during the quarter ended September 30, 2024, the Company leases office equipment under two finance leases with combined monthly payments of $5,897. The leases mature on March 1, 2024 and December 1, 2026.

Finance right of use assets are summarized below:

	As of			As of
	September 30,			June 30,
	2024			2024
Equipment lease	$	24,097		$	24,097
Less accumulated amortization		(13,770	)		(12,622	)
Finance right of use asset	$	10,327		$	11,475

On October 1, 2021, the Company discontinued use of one of its copiers. As a result, the Company recorded an impairment of assets in the amount of $84,364. Amortization expense was $1,108 and $5,738 for the three months ended September 30, 2024 and 2023, respectively.

Finance lease liabilities are summarized below:

	As of			As of
	September 30,			June 30,
	2024			2024
Equipment lease	$	66,864		$	73,623
Less: current portion		(28,334	)		(27,809	)
Long term portion	$	38,530		$	45,814

	Equipment
	Lease
Year Ended June 30, 2025	$	24,291
Year Ended June 30, 2026		32,388
Year Ended June 30, 2027		16,194
Total future minimum lease payments		72,873
Less imputed interest		(6,009	)
PV of payments	$	66,864

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NOTE 16. RELATED PARTY TRANSACTIONS

During the quarters ended September 30, 2024 and 2023, related party transactions were as follows:

As of June 30, 2024, the Company maintains its corporate address in at 2310 York Street, Suite 200, Blue Island, IL, 60406. This space is provided by the Company’s Chairman, Charles Everhardt, a related party, on a rent free basis at the present time. The Company does not currently have a lease for this space but expects to enter into a month-to-month office lease for this space.

On January 15, 2024, the Company’s CEO, Michael Friedman, was granted options to purchase 3,750,000 shares of the Company’s common stock at an exercise price of $0.50/share, exercisable on a cashless basis and for a seven-year term (the “Options”), in consideration of prior services rendered by Mr. Friedman to the Company. The Options shall be issued to Mr. Friedman’s limited liability company, Red Halo, LLC.

As of June 30, 2024, a company founded and partially owned by the Company’s Chairman, Charles Everhardt, has been assigned the $3,750,000 in payables to a Company owned by Charle’s Everhardt for the Vitality Card, this amount included $750,000 which was included in accounts payable and accrued expenses as of June 30, 2023.

The above amounts and terms are not necessarily what third parties would agree to.

NOTE 17. SUBSEQUENT EVENTS

The Company has evaluated subsequent events for recognition and disclosure through November 19, 2024, the date the financial statements were available to be issued, and determined that there were no such events requiring adjustment to, or disclosure in, the accompanying consolidated financial statements except as described below.

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Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

Forward Looking Statements

Some of the information in this section contains forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “anticipate,” “believe,” “estimate” and “continue,” or similar words.

We believe it is important to communicate our expectations. However, there may be events in the future that we are not able to accurately predict or over which we have no control. Our actual results and the timing of certain events could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including those set forth elsewhere in this Quarterly Report on Form 10-Q.

Unless stated otherwise, the words “we,” “us,” “our,” “the Company” or “Innovative MedTech” in this Quarterly Report on Form 10-Q collectively refers to Innovative MedTech, Inc., a Delaware corporation (the “Parent Company”), and subsidiaries.

Overview

Innovative MedTech, Inc. (the “Company”), a Delaware corporation, is a provider of health and wellness services. On March 25, 2021, the Company acquired two companies, Sarah Adult Day Services, Inc., and Sarah Day Care Centers, Inc. (collectively “SarahCare”), an adult day care center franchisor and provider. With 25 centers (1 corporate and 24 franchise locations) located in 13 states, SarahCare offers seniors daytime care and activities focusing on meeting their physical and medical needs on a daily basis, and ranging from nursing care to salon services and providing meals, to offering engaging and enriching activities to allow them to continue to lead active and engaged lives.

The Company is a provider of health and wellness services and has two divisions: technology and devices and Adult Day Services. The Company’s technology and devices division has signed a distribution agreement with 2 products: a high detection vein visualization device and an Oral Thrush product, and the Company’s wholly owned subsidiary SarahCare, an adult day care center franchisor with 1 corporate owned center and 24 franchise locations across the United States. SarahCare offers seniors daytime care and activities ranging from exercise and medical needs daily to nursing care and salon services.

On March 25, 2021, the Company acquired two companies, Sarah Adult Day Services, Inc., and Sarah Day Care Centers, Inc. (collectively “SarahCare”), an adult day care center franchisor and provider. On March 25, 2021, the Company acquired two companies, Sarah Adult Day Services, Inc., and Sarah Day Care Centers, Inc. (collectively “SarahCare”), an adult day care center franchisor and provider. At that time, SarahCare had 25 centers (2 corporate and 23 franchise locations) located in 13 states, SarahCare offers seniors daytime care and activities focusing on meeting their physical and medical needs on a daily basis, and ranging from nursing care to salon services and providing meals, to offering engaging and enriching activities to allow them to continue to lead active and engaged lives. We are now focusing all of our efforts on our senior care operations.

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On or about May 17, 2024, the Company entered into an Exclusive License Agreement (the “Exclusive License Agreement”) with Shear Kershman Labs, a Missouri corporation (“SKL”). SKL has developed Oral Thrush, a mouth wash that treats oral thrush, a condition in which a fungus, Candida albicans, accumulates on the lining of the mouth and sometimes overgrows and causes symptoms, such as creamy white lesions, usually on the tongue or inner cheeks. Under the Exclusive License Agreement, SKL will form a subsidiary to distribute Oral Thrush, the Company shall become an 80% owner of the subsidiary, and the Company will issue 2,000,000 shares of the Company’s Common Stock to SKL.

The following Management Discussion and Analysis should be read in conjunction with the financial statements and accompanying notes included in this Form 10-Q.

As of September 30, 2024, the Company had current assets of $1,278,836. The Company has a limited amount of liquid cash and no other liquid assets on hand as of September 30, 2024, and this is not sufficient to fund operations for the next 12 months. Accordingly, we will be required to raise additional funds to meet our short and long-term planned goals. There can be no assurance that such funds, if available at all, can be obtained on terms reasonable to us. In this regard, we have obtained and will continue to attempt to obtain (short and long term) loans for inventory purchases, new product development, expansion, advertising and marketing. We cannot assure you that we will be successful in obtaining the aforementioned financings (either debt or equity) on terms acceptable to us, or otherwise.

Our unaudited consolidated financial statements contained in this Quarterly Report on Form 10-Q have been prepared on a going concern basis, which assumes that we will be able to realize our assets and discharge our obligations in the normal course of business.

Results of Operations for the Three Months Ended September 30, 2024, and March 31, 2023

For the quarter ended September 30, 2024, we recorded gross revenues of $428,384 versus $480,708 for the quarter ended September 30, 2023, as a result of the Company’s closure of one of its corporate locations, ability to close some of the centers for limited amounts of time, and fewer participants coming to the centers.

For the quarter ended September 30, 2024, operating expenses increased to $1,255,128 from $627,515, a $627,613 increase, or (100.02%), over the quarter ended September 30, 2023. The increase is due to an increase in consulting and legal and professional fees.

For the quarter ended September 30, 2024, interest expense increased to $29,587 from $21,863 an increase of 35.33% over the quarter ended September 30, 2023. This increase is primarily due to an increase in interest expense.

For the quarter ended September 30, 2024, we realized a net loss of $883,531 as compared to a net loss of $165,063 for the quarter ended September 30, 2023. The increase in our net loss of $718,468 was primarily due to an increase in consulting legal and professional fees.

Liquidity and Capital Resources

Based upon our current financial condition, we do not have sufficient cash to operate our business at the current level for the next twelve months. We intend to fund operations through debt and/or equity financing arrangements, which may be insufficient to fund expenditures or other cash requirements. We plan to seek additional financing in a private equity offering to secure funding for operations. There can be no assurance that we will be successful in raising additional funding. If we are not able to secure additional funding, the implementation of our business plan will be impaired. There can be no assurance that such additional financing will be available to us on acceptable terms or at all.

Off Balance Sheet Arrangements

We currently have no off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

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Critical Accounting Policies

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Such estimates and assumptions affect the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experiences and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions and conditions. We continue to monitor significant estimates made during the preparation of our financial statements. On an ongoing basis, we evaluate estimates and assumptions based upon historical experience and various other factors and circumstances. We believe our estimates and assumptions are reasonable in the circumstances; however, actual results may differ from these estimates under different future conditions.

Inflation

We do not believe that inflation had a significant impact on our results of operations for the periods presented.

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company, as defined in Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

Item 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

In connection with the preparation of this Quarterly Report on Form 10-Q, an evaluation was carried out by the Company’s management, with the participation of the principal executive officer and the principal financial officer, of the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (“Exchange Act”)) as of September 30, 2024. Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Commission’s rules and forms, and that such information is accumulated and communicated to management, including the chief executive officer and the chief financial officer, to allow timely decisions regarding required disclosures.

Based on that evaluation, the Company’s principal executive officer and principal financial officer concluded, as of the end of the period covered by this report, that the Company’s disclosure controls and procedures were not effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Commission’s rules and forms, and that such information was not accumulated and communicated to management, including the principal executive officer and the principal financial officer, to allow timely decisions regarding required disclosures.

Management’s Report on Internal Control over Financial Reporting

The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. The Company’s internal control over financial reporting is a process, under the supervision of the principal executive officer and the principal financial officer, designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with United States generally accepted accounting principles (GAAP). Internal control over financial reporting includes those policies and procedures that:

	●	Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the Company’s assets;
	●	Provide reasonable assurance that transactions are recorded as necessary to permit preparation of the financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of management and the board of directors; and
	●	Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.

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Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

The Company’s management conducted an assessment of the effectiveness of our internal control over financial reporting as of September 30, 2024, based on criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission, which assessment identified material weaknesses in internal control over financial reporting. A material weakness is a control deficiency, or a combination of deficiencies in internal control over financial reporting that creates a reasonable possibility that a material misstatement in annual or interim financial statements will not be prevented or detected on a timely basis. Since the assessment of the effectiveness of our internal control over financial reporting did identify a material weakness, management considers its internal control over financial reporting to be ineffective.

Management has concluded that our internal control over financial reporting had the following deficiency:

●

We were unable to maintain any segregation of duties within our business operations due to our reliance on a single individual fulfilling the role of sole officer. This control deficiency did result in adjustments to our 2012 and 2013 interim and annual financial statements. Accordingly, we have determined that this control deficiency constitutes a material weakness.

To the extent reasonably possible, given our limited resources, our goal is, upon sufficient operating cash flow and/or capital, to separate the responsibilities of principal executive officer and principal financial officer, intending to rely on two or more individuals. We will also seek to expand our current board of directors to include additional individuals willing to perform directorial functions. Since the recited remedial actions will require that we hire or engage additional personnel, this material weakness may not be overcome in the near term due to our limited financial resources. Until such remedial actions can be realized, we will continue to rely on the advice of outside professionals and consultants.

This Quarterly Report on Form 10-Q does not include an attestation report of our independent registered public accounting firm regarding internal control over financial reporting. We were not required to have, nor have we, engaged our independent registered public accounting firm to perform an audit of internal control over financial reporting pursuant to the rules of the Commission that permit us to provide only management’s report in this Quarterly Report on Form 10-Q.

Changes in Internal Controls over Financial Reporting

During the quarter ended September 30, 2024, there has been no change in internal control over financial reporting that has materially affected, or is reasonably likely to materially affect our internal control over financial reporting.

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. Other than disclosed herein, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations.

On or about October 2, 2024, Sarah Adult Day Services, Inc. was named as a defendant in a complaint filed in the Summit County Court of Common Please, Summit County Courthouse in Akron, OH (case no.: CV-2024-10-4369), but Premier Wadsworth Property, LLC (the “Plaintiff”), who is the owner and landlord for the Stow Professional Center, where SarahCare had a corporate center, which it closed around April 2024, approximately 1 year prior to the term of the lease. The Plaintiff alleges that it is owed damages totaling at least $102,407, including all rent, utilities, and attorney’s fees. The Company intends to vigorously defend itself in this matter.

On or about April 17, 2024, the Company was notified that a complaint had been filed against it in the United States District Court for the Northern District of Ohio, Eastern Division (case no. 5:24-cv-00687), by Merle Griff, Adam Griff and Brian Froelich (the “Plaintiffs”), who are the original shareholders of SarahCare, which is wholly owned by the Company, alleging breach of breach of contract and related causes of action in connection with unpaid royalties pursuant to the Company’s original purchase agreement in connection with SarahCare, and seeking $1,841,537 in damages, plus interests, costs and attorney fees. The Company intends to vigorously defend itself in this matter.

Additionally, we currently have thirteen (13) convertible promissory notes that are in default, and we may be subject to legal proceedings or lawsuits from any number of those convertible noteholders, including the below.

On April 7, 2013, three note holders (Brook Hazelton, Benjamin M. Manalaysay, Jr., and Diego McDonald, the “Plaintiffs”), whom together invested a total principal amount of $45,000 in the form of Convertible Promissory Notes (the ”Notes”) to the Company, together filed a “Notice of Commencement of Action Subject to Mandatory Electronic Filing” in the Supreme Count of the State of New York, County of New York. The Plaintiffs alleged that the Company breached their contracts with the Plaintiffs and included causes of action for unjust enrichment and related claims, seeking repayment of each of their respective convertible promissory notes plus interest. On or about February 24, 2014, the three Plaintiffs received judgment against the Company from the court in the amounts of $33,686, $8,546 and $33,696 respectively.

Our wholly owned subsidiary, SarahCare, is not involved in any legal proceedings at this time.

Except as set forth herein, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings, and management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

Item 1A. Risk Factors.

As a smaller reporting company, we are not required to provide the information required by this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

During the quarter ended September 30, 2024, the Company did not have any unregistered sales of any equity securities.

Item 3. Defaults Upon Senior Securities.

During the quarter ended September 30, 2024, the Company was in default under the majority of its outstanding legacy convertible notes.

Item 4. Mine Safety Disclosure

Not applicable.

Item 5. Other Information.

None.

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Item 6. Exhibits.

See the Exhibit Index following the signature page of this Registration Statement, which Exhibit Index is incorporated herein by reference.

Exhibit		Description
3.1		Certificate of Incorporation (New Jersey) (Incorporated by reference to the Company’s Form 10SB filed with the SEC on June 29, 2005)
3.2		Bylaws (Incorporated by reference to the Company’s Form 10SB filed with the SEC on June 29, 2005)
3.3		Certificate of Amendment of Certificate of Incorporation (Incorporated by reference to the Company’s Current Report on Form 8 K filed with the SEC on January 27, 2006)
3.4		Certificate of Incorporation (Delaware)
3.5		Certificate of Merger (redomiciling from New Jersey to Delaware)
3.6		Certificate of Amendment to Certificate of Incorporation
3.7		Certificate of Designation of Series A Convertible Preferred Stock
10.1+		Standard Office Lease by and between DeVille Developments, LLC, and Sarah Adult Day Services, Inc., dated June 2, 2017
10.2+		Lease by and between Stow Professional Center, LLC, and Sarah Day Care Centers, Inc., dated September 4, 2014
10.3+		Lease Agreement by and between S. Frank Prof. Bldg., LLC, and Sarah Day Care Centers, Inc., dated March 20, 2018
10.4+		Stock Purchase Agreement by and among Innovative MedTech, Inc., Sarah Adult Day Services, Inc., Sarah Day Care Centers, Inc., The Sellers Named Herein, Dr. Merle Griff, as the Seller Representative, and Veteran Services LLC, dated as of March 25, 2021
10.5		Share Exchange Agreement, by and between Innovative MedTech, Inc., VC Bin, LLC, Webb Media, LLC, Melides Capital, LLC, Ronald Schreiber, and Dovner Holdings, LLC, dated April 26, 2022
10.6		Executive Employment Agreement between Innovative MedTech, Inc. and Dr. Merle Griff, dated May 2, 2022
10.7		Consulting Agreement between Innovative MedTech, Inc. and Red Halo, LLC, dated May 2, 2022
10.8		Exclusive License Agreement by and between Innovative MedTech, Inc. and Shearson Kershman Labs, dated May 17, 2024
14.1		Code of Ethics (Incorporated by reference to the Company’s Form SB-2 filed with the SEC on May 12, 2006)
31.1*		Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*		Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*		Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2*		Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)
101.SCH*		Inline XBRL Taxonomy Extension Schema Document
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*		Inline XBRL Taxonomy Extension Labels Linkbase Document
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104*		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

________

* Filed herewith

+ Certain schedules and exhibits have been omitted pursuant to Item 601(b)(2) and/or Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule or exhibit will be furnished supplementally to the Commission upon request; provided, however, that the Company may request confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended, for any schedule or exhibit so furnished.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Innovative MedTech, Inc. (Registrant)

	/s/ Michael Friedman
	Michael Friedman Chief Executive Officer

	Date: November 20, 2024

nullnullnullnull

Cover - shares	3 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 19, 2024
Cover [Abstract]
Entity Registrant Name	INNOVATIVE MEDTECH, INC.
Entity Central Index Key	0001331612
Document Type	10-Q/A
Amendment Flag	true
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	Sep. 30, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		27,918,963
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-51390
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	33-1130446
Entity Address Address Line 1	2310 York St
Entity Address Address Line 2	Suite 200
Entity Address City Or Town	Blue Island
Entity Address State Or Province	IL
Entity Address Postal Zip Code	60406
City Area Code	708
Local Phone Number	925-9424
Entity Interactive Data Current	Yes
Amendment Description	Amendment

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Current assets
Cash and cash equivalents	$ 174,293	$ 113,489
Accounts receivable, net	166,449	160,996
Notes receivable, related party	9,294	9,294
Prepaid expenses	9,088	0
Total current assets	359,124	283,779
Deposits	7,961	7,961
Deposit on business acquisition	540,800	0
Right-of-use asset	249,784	241,210
Finance lease asset, net	10,327	11,475
Property, plant and equipment, net of accumulated depreciation	110,840	107,456
Total Assets	1,278,836	651,881
Current liabilities
Accounts payable and accrued expenses	1,463,934	1,394,888
Accrued interest	664,770	648,771
Accrued interest, related parties	225,357	203,711
Notes payable, related parties, current	832,773	832,773
Notes payable, current, net of $9,553 and $0 in unamortized discount, respectively	372,859	317,546
Convertible notes payable, current	266,900	266,900
SBA Loan, current	5,145	5,359
Line of credit	71,442	72,810
Derivative liability	200,000	193,557
Finance lease liability	28,334	27,809
Operating lease liability	136,183	144,182
Total current liabilities	4,267,697	4,108,306
Royalty liability	1,500,000	1,500,000
Finance lease liability, non-current	38,530	45,814
Operating lease liability, non-current	118,510	97,886
Notes payable, non-current	62,036	60,048
SBA Loan, non-current	317,765	322,789
Total Liabilities	6,304,538	6,134,843
Stockholders' Deficit
Series A Preferred stock, $0.000001 par value; 500,000,000 authorized: 367,500 shares issued and outstanding	0	0
Common stock, $0.000001 par value; 130,000,000 shares authorized; 27,918,963 and 23,882,297 shares issued and outstanding as of September 30, 2024 and June 30, 2024, respectively	28	24
Additional paid in capital	40,419,011	39,078,224
Accumulated deficit	(45,444,741)	(44,561,210)
Total Stockholders' Deficit	(5,025,702)	(5,482,962)
Total Liabilities and Stockholders' Deficit	$ 1,278,836	$ 651,881

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
STOCKHOLDERS' EQUITY
Notes payable, current	$ 9,553	$ 0
Preferred stock, shares authorized	500,000,000	500,000,000
Preferred stock, shares par value	$ 0.000001	$ 0.000001
Preferred stock, shares issued	367,500	367,500
Preferred stock, shares outstanding	367,500	367,500
Common stock, shares authorized	130,000,000	130,000,000
Common stock, shares par value	$ 0.000001	$ 0.000001
Common stock, shares issued	27,918,963	23,882,297
Common stock, shares outstanding	27,918,963	23,882,297

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Participant fees	$ 252,571	$ 321,490
Franchise fees	175,813	159,218
Revenue	428,384	480,708
Operating expenses:
General and administrative	115,427	226,060
Stock-based compensation	28,741	0
Salaries and wages	239,260	293,512
Consulting fees	808,750	53,104
Legal and professional fees	62,950	54,839
Total operating expenses	1,255,128	627,515
Loss from operations	(826,744)	(146,807)
Other income (expense):
Interest expense, related parties	(18,639)	(16,940)
Interest expense	(29,587)	(21,863)
Change in fair value of derivatives	(6,443)	(24,733)
Amortization of debt discount	(2,447)	(8,053)
Other income	329	53,333
Total other income (expense)	(56,787)	(18,256)
Net loss	$ (883,531)	$ (165,063)
Basic and diluted earnings per share on net loss	$ (0.03)	$ (0.01)
Weighted average shares outstanding - basic and diluted	27,721,161	21,157,327

STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIT - USD ($)	Total	Series A, Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance, shares at Jun. 30, 2023		367,500	21,157,327
Balance, amount at Jun. 30, 2023	$ (1,308,386)	$ 0	$ 21	$ 35,313,906	$ (36,622,313)
Warrants issued with notes payable	22,849	0	0	22,849	0
Net loss	(165,063)	$ 0	$ 0	0	(165,063)
Balance, shares at Sep. 30, 2023		367,500	21,157,327
Balance, amount at Sep. 30, 2023	(1,450,600)	$ 0	$ 21	35,336,755	(36,787,376)
Balance, shares at Jun. 30, 2024		367,500	23,882,297
Balance, amount at Jun. 30, 2024	(5,482,962)	$ 0	$ 24	39,078,224	(44,561,210)
Net loss	(883,531)	0	$ 0	0	(883,531)
Stock issued for services, shares			2,036,666
Stock issued for services, amount	771,250	0	$ 2	771,248	0
Stock issued for deposit in joint venture, shares			2,000,000
Stock issued for deposit in joint venture, amount	540,800	0	$ 2	540,798	0
Stock-based compensation	28,741	$ 0	$ 0	28,741	0
Balance, shares at Sep. 30, 2024		367,500	27,918,963
Balance, amount at Sep. 30, 2024	$ (5,025,702)	$ 0	$ 28	$ 40,419,011	$ (45,444,741)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities
Net Loss	$ (883,531)	$ (165,063)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	9,319	24,000
Stock-based compensation	28,741	0
Stock issued for services	771,250	0
Amortization of royalty fee liability discount	0	151
Amortization of debt discount	2,447	8,053
Change in fair value of derivatives	6,443	24,733
Amortization of right-of-use	4,050	(24)
Changes in operating assets & liabilities
Accounts receivable	(5,453)	(319)
Prepaid expenses	(9,088)	750
Deposits	0	(1,245)
Accounts payable and accrued liabilities	69,046	40,272
Accrued interest, related party	21,646	17,353
Accrued interest	15,999	16,148
Net cash provided (used) by operating activities	30,869	(35,191)
Cash Flows from Investing Activities
Acquisition of fixed assets	(11,555)	(95,235)
Net cash provided (used) by investing activities	(11,555)	(95,235)
Cash Flows from Financing Activities
Proceeds from convertible notes payable	0	150,000
Proceeds from notes payable	80,000	81,729
Payments on SBA loan	(5,238)	(5,238)
Payments on convertible notes payable	0	0
Payments on notes payable	(25,145)	0
Proceeds from line of credit	0	20,000
Payments on line of credit	(1,368)	(1,593)
Payments on finance lease	(6,759)	(15,399)
Net cash provided (used) by financing activities	41,490	229,499
Increase in Cash and cash equivalents	60,804	99,073
Cash and cash equivalents at beginning of period	113,489	157,589
Cash and equivalents at end of period	174,293	256,662
Supplemental Cash Flow Information
Cash paid for interest	0	9,500
Cash paid for income taxes	$ 0	0
Non-cash investing and financing activities:
Common stock issued for deposit on business acquisition	540,800
Right-of-use asset and operating lease liability	$ 60,115	$ 0

GENERAL ORGANIZATION AND BUSINESS

3 Months Ended

Sep. 30, 2024

GENERAL ORGANIZATION AND BUSINESS

GENERAL ORGANIZATION AND BUSINESS

NOTE 1. GENERAL ORGANIZATION AND BUSINESS

LIQUIDITY, CAPITAL RESOURCES AND GOING CONCERN

3 Months Ended

Sep. 30, 2024

LIQUIDITY, CAPITAL RESOURCES AND GOING CONCERN

LIQUIDITY, CAPITAL RESOURCES AND GOING CONCERN

NOTE 2. LIQUIDITY, CAPITAL RESOURCES AND GOING CONCERN

For the three months ended September 30, 2024 and 2023, the Company reported a net loss of $883,531 and $165,063, respectively.

As of September 30, 2024, the Company maintained total assets of $1,278,836, total liabilities including long-term debt of $6,304,538 along with an accumulated deficit of $45,444,741.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Sep. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

Earnings Per Share Calculation

Intangible Assets

Asset	Estimated Useful Life
Customer Relationships		3
Trademarks		Indefinite
Non-Compete Agreement		3
CARF Accreditation		3
Franchise Agreements		Indefinite

Revenue Recognition

Patient Fees

Franchise Fees

Income Taxes

Leases

Fair value of financial instruments

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities.

Embedded Conversion Features

Derivative financial instruments

Debt Issue Costs and Debt Discount

Reclassification of Presentation

Certain prior year amounts have been reclassified to conform with current year presentation. These reclassifications had no effect on the reported results of operations.

Recently Issued Accounting Pronouncements

Subsequent Events

In accordance with ASC 855, Subsequent Events, the Company evaluated subsequent events through the date of this report; the date the consolidated financial statements were available for issue.

NOTES RECEIVABLE, RELATED PARTIES

3 Months Ended

Sep. 30, 2024

NOTES RECEIVABLE, RELATED PARTIES

NOTES RECEIVABLE, RELATED PARTIES

NOTE 4. NOTES RECEIVABLE, RELATED PARTIES

The Company has several notes receivables from a related party. They are as follows:

	September 30, 2024		June 30, 2024

Notes receivable from related party (see Note 17), due in three months, with no installments, no interest, and in default as of March 2022		9,294		9,294
Total notes receivable		9,294		9,294
Less long-term		-		-
Total short term notes receivable	$	9,294	$	9,294

PROPERTY AND EQUIPMENT

3 Months Ended

Sep. 30, 2024

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

NOTE 5. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at September 30, 2024 and June 30, 2024

	September 30,			June 30,
	2024			2024

Leasehold improvements	$	20,077		$	20,077
Vehicles		130,135			130,135
Computer equipment		25,048			13,493
Furniture and fixtures		3,046			3,046
		178,306			166,751
Less: Accumulated depreciation		(67,466	)		(59,295	)
Property, plant and equipment - net	$	110,840		$	107,456

Depreciation expense was $8,171 and $16,911 for the three months ended September 30, 2024 and 2023, respectively.

NOTES PAYABLE

3 Months Ended

Sep. 30, 2024

NOTES PAYABLE

NOTES PAYABLE

NOTE 6. NOTES PAYABLE

As of September 30, 2024 and June 30, 2024, the Company had $434,895 and $377,594, respectively, in outstanding notes payable, as following:

			Original					Principal Balance as of
		Date of Note	Principal		Maturity	Interest		September 30,			June 30,
Ref No.		Issuance	Balance		Date	Rate (%)		2024			2024
	1	9/16/06	$	100,000	*		12	$	38,000		$	38,000
	2	12/25/20		146,021	8/15/25		10		30,307			38,572
	3	2/24/14		5,000	*		9		8,547			8,547
	4	2/24/14		39,000	*		9		33,687			33,687
	5	2/24/14		179,124	*		9		33,697			33,697
	6	7/1/23		90,985	5/5/28		9		70,560			75,091
	7	8/21/23		150,000	*		12		148,000			150,000
	8	7/30/24		40,250			14		40,250			-
	9	7/30/24		51,750			12		41,400			-
	Less: Unamortized	discount							(9,553	)
		Total						$	434,895		$	377,594
		Total Current						$	372,859		$	317,546
		Total Long Term						$	62,036		$	60,048

________

* As of September 30, 2024, these notes are in default.

	Amount Owed
Year Ended June 30, 2025		378,049
Year Ended June 30, 2026		26,422
Year Ended June 30, 2027		20,157
Year Ended June 30, 2028		19,820
Total future payments		444,488

NOTES PAYABLE, RELATED PARTIES

3 Months Ended

Sep. 30, 2024

NOTES PAYABLE, RELATED PARTIES

NOTES PAYABLE, RELATED PARTIES

NOTE 7. NOTES PAYABLE, RELATED PARTIES

Ref No. Note			Date of	Original Principal		Maturity	Interest			Principal		Principal
Issuance			Issuance	Rate %		Date	Rate %			Balance 9/30/24		Balance 6/30/24
	1	*	3/25/21		308,500	6/3/21		10	%	$	308,500	$	308,500
	2	*	3/25/21		47,436	6/3/21		10	%		47,436		47,436
	3	*	3/25/21		158,503	6/3/21		10	%		158,502		158,502
	4	*	3/24/22		39,000	9/24/22		6	%		39,000		39,000
	5	*	5/5/22		179,124	11/5/22		6	%		179,124		179,124
	6	*	10/5/22		20,000	4/5/23		6	%		20,000		20,000
	7	*	11/9/22		500	5/9/23		6	%		500		500
	8	*	11/18/22		4,000	5/18/23		6	%		4,000		4,000
	9	*	1/17/23		18,000	7/17/23		6	%		18,000		18,000
	10	*	2/8/23		27,000	8/8/23		6	%		27,000		27,000
	11	*	4/28/23		650	10/28/23		6	%		650		650
	12	*	5/16/23		900	11/16/23		6	%		900		900
	13	*	5/30/23		875	11/30/23		6	%		875		875
	14	*	5/21/23		410	11/31/23		6	%		410		410
	15	*	6/29/23		875	12/29/23		6	%		875		875
	16	*	1/12/24		5,000	7/12/24		6	%		5,000		5,000
	17	*	1/16/24		7,000	7/16/24		6	%		7,000		7,000
	18	*	2/21/24		10,000	8/21/24		6	%		10,000		10,000
	19		4/1/24		5,000	10/1/24		6	%		5,000		5,000
			Total							$	832,773	$	832,773

* As of September 30, 2024, these notes are in default.

The above amounts and terms are not necessarily what third parties would agree to.

CONVERTIBLE NOTES PAYABLE, CURRENT

3 Months Ended

Sep. 30, 2024

CONVERTIBLE NOTES PAYABLE, CURRENT

CONVERTIBLE NOTES PAYABLE, CURRENT

NOTE 8. CONVERTIBLE NOTES PAYABLE

As of September 30, 2024 and June 30, 2024, the convertible notes payable were as follows:

Date of Note Issuance	Original Principal Balance		Maturity Date	Interest Rate %			Conversion Rate		Principal Balance 9/30/24		Principal Balance 6/30/24
8/26/14		50,000	*		10	%	$	0.0001	$	50,000	$	50,000
6/15/12		8,000	*		10	%	$	0.000350		8,000		8,000
10/18/11		1,900	*		8	%	25% discount to market			6,900		6,900
10/3/10		20,000	*		10	%	lesser $0.01 or 20% discount to market			20,000		20,000
10/31/09		4,000	*		8	%	25% discount of previous 5 days closing price			4,000		4,000
2/26/07		30,000	*		12	%	lesser $0.50 or 35% discount to market			30,000		30,000
4/17/07		20,000	*		10	%	lesser $0.45 or 35% discount to market			20,000		20,000
6/14/07		15,000	*		10	%	lesser $0.50 or 25% discount to market			15,000		15,000
1/29/07		15,000	*		10	%	$	0.95		15,000		15,000
4/17/07		15,000	*		10	%	lesser $0.45 or 35% discount to market			15,000		15,000
12/23/06		18,000	*		10	%	$	0.95		18,000		18,000
11/30/06		50,000	*		10	%	$	0.85		50,000		50,000
10/1/05		15,000	*		10	%	$	0.50		15,000		15,000
Total Current									$	266,900	$	266,900

* As of September 30, 2024, these notes are in default.

SBA LOAN

3 Months Ended

Sep. 30, 2024

SBA LOAN

SBA LOAN

NOTE 9. SBA LOAN

On June 25, 2020 and January 6, 2022, the Company’s wholly-owned subsidiary, Sarah Day Care Centers, Inc. received proceeds of $150,000 and $200,000

	Amount Owed

Year Ended June 30, 2025	$	6,829
Year Ended June 30, 2026		7,089
Year Ended June 30, 2027		7,360
Year Ended June 30, 2028		7,641
Year Ended June 30, 2029		7,932

Payments 2030 & Thereafter		286,059
Total Payments	$	322,910

DERIVATIVE FINANCIAL INSTRUMENTS

3 Months Ended

Sep. 30, 2024

DERIVATIVE FINANCIAL INSTRUMENTS

DERIVATIVE FINANCIAL INSTRUMENTS

NOTE 10. DERIVATIVE FINANCIAL INSTRUMENTS

The following tables summarize the components of the Company’s derivative liabilities and linked common shares.

	September 30, 2024
	Indexed		Fair
The financings giving rise to derivative financial instruments	Shares		Values
Compound embedded derivative		1,461,911	$	200,000

	June 30, 2024
	Indexed		Fair
The financings giving rise to derivative financial instruments	Shares		Values
Compound embedded derivative		818,753	$	193,557

The financings giving rise to derivative financial instruments and the income effects:

	Three Months Ended
	September 30,			September 30,
	2024			2023
Compound embedded derivative	$	(6,443	)	$	(24,733	)
Day one derivative loss		-			-
Total derivative gain (loss)	$	(6,443	)	$	(24,733	)

	Inception			September 30, 2024			June 30, 2024
Quoted market price on valuation date	$	0.01		$	0.2975		$	0.40
Contractual conversion rate	$	0.0054 - $0.0081		$	0.19 – 0.23		$	0.338 - $0.556
Range of effective contractual conversion rates		-						-
Contractual term to maturity	1.00 Year			0.25 Years			0.25 Years
Market volatility:
Volatility		138.28%-238.13	%		138.28%-238.13	%		138.28%-238.13	%
Contractual interest rate		5%-12	%		5%-12	%	5%-12		%

	September 30, 2024		June 30, 2024
Beginning balance	$	193,557	$	201,607
Issuances:
Convertible Note Financing		-		-
Removals		-		-
Changes in fair value inputs and assumptions reflected		6,443		(8,050	)
Conversions		-		-
Ending balance	$	200,000	$	193,557

STOCKHOLDERS EQUITY

3 Months Ended

Sep. 30, 2024

STOCKHOLDERS EQUITY

STOCKHOLDERS' EQUITY

NOTE 11. STOCKHOLDERS’ DEFICIT

Common Stock

On March 7, 2024, the Company issued 1,590,728 restricted common shares, par value, $0.000001 per share, to 6 Board of Advisor Members and 7 consultants to the Company.

Conversion of Notes Payable to Common Shares

On April 4, 2024, one Noteholders converted two notes for a total of $11,350 of convertible promissory notes into 50,075 common shares of the Company,

Series A Convertible Preferred Stock

Series A Preferred Stock – Certificate of Designations

The Preferred Shares each have Certificate of Designations, which designate as follows:

Number

500,000,000 shares of the Parent Company’s Preferred Stock are designated as shares of Series A Convertible Preferred Stock, par value $0.000001 per share.

Dividends

Conversion

Each share of Preferred Stock is convertible into 100 shares of the Parent Company’s common stock (the “Conversion Rate”).

Liquidation

Voting

PROVISION FOR CORPORATE INCOME TAXES

3 Months Ended

Sep. 30, 2024

PROVISION FOR CORPORATE INCOME TAXES

PROVISION FOR CORPORATE INCOME TAXES

NOTE 12. PROVISION FOR CORPORATE INCOME TAXES

Statutory federal income tax rate	(21	)%
State taxes – net of federal benefits	(5	)%
Valuation allowance	26	%
Income tax rate – net	0	%

FASB Interpretation No. 48 (Fin 48) - Accounting for Uncertain Tax Positions

UNPAID PAYROLL TAXES

3 Months Ended

Sep. 30, 2024

UNPAID PAYROLL TAXES

UNPAID PAYROLL TAXES

NOTE 13. UNPAID PAYROLL TAXES

IRS Tax Lien

The Internal Revenue Service has placed a federal tax lien on all of the assets of the Company.

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Sep. 30, 2024

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

NOTE 14. COMMITMENTS AND CONTINGENCIES

Rent

SarahCare

LEASES

3 Months Ended

Sep. 30, 2024

LEASES

LEASES

NOTE 15. LEASES

Operating Leases

Stow Professional Lease

	Monthly Rent Payments
	Base Rent		Covid-19 Recoup*		Total Rent
April 1, 2021	$	6,369	$	983	$	7,352
May 1, 2021 to December 31, 2021	$	6,369	$	621	$	6,990
January 1, 2022 to December 31, 2022	$	6,433	$	621	$	7,054
January 1, 2023 to December 31, 2023	$	6,497	$	621	$	7,118
January 1, 2024 to December 31, 2024	$	6,562	$	621	$	7,183
January 1, 2025 to December 31, 2025	$	6,628	$	621	$	7,249

________

*The Company has to repay the lessor monthly payments as a result of COVID relief.

Harbor Lease

S. Frank Professional Lease

Right-of-use asset is summarized below:

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Office lease	$	282,371		$	412,770		$	60,115		$	755,256
Less: accumulated amortization		(240,601	)		(253,045	)		(11,826	)		(505,472	)
Right-of-use asset, net	$	41,770		$	159,725		$	48,289		$	249,784

Right-of-use asset is summarized below:

	June 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Total
Office lease	$	282,371		$	412,770		$	695,141
Less: accumulated amortization		(220,493	)		(233,438	)		(453,931	)
Right-of-use asset, net	$	61,878		$	179,332		$	241,210

Operating lease liability is summarized below:

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Office lease	$	42,405		$	159,725			52,560		$	254,690
Less: current portion		(42,405	)		(83,500	)		(10,275	)		(136,180	)
Long term portion	$	-		$	76,225			42,285		$	118,510

Operating lease liability is summarized below:

	June 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Total
Office lease	$	62,733		$	179,333		$	242,066
Less: current portion		(62,733	)		(81,447	)		(144,180	)
Long term portion	$	-		$	97,886		$	97,886

Maturity of the lease liability is as follows:

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Year ending June 30, 2025	$	43,293		$	71,192		$	11,208		$	125,693
Year ending June 30, 2026					94,923			14,944			109,867
Year ending June 30, 2027					7,910			15,941			23,851
Year ending June 30, 2028								16,440			16,440
Year ending June 30, 2029		-						5,480			5,480
Total future minimum lease payments		43,293			174,025			64,013			281,331
Present value discount		(888	)		(14,300	)		(11,453	)		(26,641	)
Lease liability	$	42,405		$	159,725			52,560		$	254,690

Finance right of use assets are summarized below:

	As of			As of
	September 30,			June 30,
	2024			2024
Equipment lease	$	24,097		$	24,097
Less accumulated amortization		(13,770	)		(12,622	)
Finance right of use asset	$	10,327		$	11,475

Finance lease liabilities are summarized below:

	As of			As of
	September 30,			June 30,
	2024			2024
Equipment lease	$	66,864		$	73,623
Less: current portion		(28,334	)		(27,809	)
Long term portion	$	38,530		$	45,814

	Equipment
	Lease
Year Ended June 30, 2025	$	24,291
Year Ended June 30, 2026		32,388
Year Ended June 30, 2027		16,194
Total future minimum lease payments		72,873
Less imputed interest		(6,009	)
PV of payments	$	66,864

RELATED PARTY TRANSACTIONS

3 Months Ended

Sep. 30, 2024

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 16. RELATED PARTY TRANSACTIONS

During the quarters ended September 30, 2024 and 2023, related party transactions were as follows:

The above amounts and terms are not necessarily what third parties would agree to.

SUBSEQUENT EVENTS

3 Months Ended

Sep. 30, 2024

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 17. SUBSEQUENT EVENTS

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Sep. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Principles of Consolidation

Use of Estimates

Cash And Cash Equivalents

Earnings Per Share Calculation

Intangible assets

Asset	Estimated Useful Life
Customer Relationships		3
Trademarks		Indefinite
Non-Compete Agreement		3
CARF Accreditation		3
Franchise Agreements		Indefinite

Fair Value of Financial Instruments

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities.

Embedded Conversion Features

Derivative financial instruments

Debt Issue Costs and Debt Discount

Reclassification of Presentation

Certain prior year amounts have been reclassified to conform with current year presentation. These reclassifications had no effect on the reported results of operations.

Recently Issued Accounting Pronouncements

Subsequent Events

In accordance with ASC 855, Subsequent Events, the Company evaluated subsequent events through the date of this report; the date the consolidated financial statements were available for issue.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Sep. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of intangible assets estimated useful life

Asset	Estimated Useful Life
Customer Relationships		3
Trademarks		Indefinite
Non-Compete Agreement		3
CARF Accreditation		3
Franchise Agreements		Indefinite

NOTES RECEIVABLE, RELATED PARTIES (Tables)

3 Months Ended

Sep. 30, 2024

NOTES RECEIVABLE, RELATED PARTIES

Schedule of Notes Receivables From Related Party

	September 30, 2024		June 30, 2024

Notes receivable from related party (see Note 17), due in three months, with no installments, no interest, and in default as of March 2022		9,294		9,294
Total notes receivable		9,294		9,294
Less long-term		-		-
Total short term notes receivable	$	9,294	$	9,294

PROPERTY PLANT AND EQUIPMENT (Table)

3 Months Ended

Sep. 30, 2024

PROPERTY AND EQUIPMENT

Schedule of Property Plant And Equipment

	September 30,			June 30,
	2024			2024

Leasehold improvements	$	20,077		$	20,077
Vehicles		130,135			130,135
Computer equipment		25,048			13,493
Furniture and fixtures		3,046			3,046
		178,306			166,751
Less: Accumulated depreciation		(67,466	)		(59,295	)
Property, plant and equipment - net	$	110,840		$	107,456

NOTES PAYABLE (Tables)

3 Months Ended

Sep. 30, 2024

NOTES PAYABLE

Schedule of Notes Payable

			Original					Principal Balance as of
		Date of Note	Principal		Maturity	Interest		September 30,			June 30,
Ref No.		Issuance	Balance		Date	Rate (%)		2024			2024
	1	9/16/06	$	100,000	*		12	$	38,000		$	38,000
	2	12/25/20		146,021	8/15/25		10		30,307			38,572
	3	2/24/14		5,000	*		9		8,547			8,547
	4	2/24/14		39,000	*		9		33,687			33,687
	5	2/24/14		179,124	*		9		33,697			33,697
	6	7/1/23		90,985	5/5/28		9		70,560			75,091
	7	8/21/23		150,000	*		12		148,000			150,000
	8	7/30/24		40,250			14		40,250			-
	9	7/30/24		51,750			12		41,400			-
	Less: Unamortized	discount							(9,553	)
		Total						$	434,895		$	377,594
		Total Current						$	372,859		$	317,546
		Total Long Term						$	62,036		$	60,048

Schedule of Notes in Default

	Amount Owed
Year Ended June 30, 2025		378,049
Year Ended June 30, 2026		26,422
Year Ended June 30, 2027		20,157
Year Ended June 30, 2028		19,820
Total future payments		444,488

NOTES PAYABLE, RELATED PARTIES (Tables)

3 Months Ended

Sep. 30, 2024

NOTES PAYABLE, RELATED PARTIES

Schedule of Notes Payable Relatied Parties Current

Ref No. Note			Date of	Original Principal		Maturity	Interest			Principal		Principal
Issuance			Issuance	Rate %		Date	Rate %			Balance 9/30/24		Balance 6/30/24
	1	*	3/25/21		308,500	6/3/21		10	%	$	308,500	$	308,500
	2	*	3/25/21		47,436	6/3/21		10	%		47,436		47,436
	3	*	3/25/21		158,503	6/3/21		10	%		158,502		158,502
	4	*	3/24/22		39,000	9/24/22		6	%		39,000		39,000
	5	*	5/5/22		179,124	11/5/22		6	%		179,124		179,124
	6	*	10/5/22		20,000	4/5/23		6	%		20,000		20,000
	7	*	11/9/22		500	5/9/23		6	%		500		500
	8	*	11/18/22		4,000	5/18/23		6	%		4,000		4,000
	9	*	1/17/23		18,000	7/17/23		6	%		18,000		18,000
	10	*	2/8/23		27,000	8/8/23		6	%		27,000		27,000
	11	*	4/28/23		650	10/28/23		6	%		650		650
	12	*	5/16/23		900	11/16/23		6	%		900		900
	13	*	5/30/23		875	11/30/23		6	%		875		875
	14	*	5/21/23		410	11/31/23		6	%		410		410
	15	*	6/29/23		875	12/29/23		6	%		875		875
	16	*	1/12/24		5,000	7/12/24		6	%		5,000		5,000
	17	*	1/16/24		7,000	7/16/24		6	%		7,000		7,000
	18	*	2/21/24		10,000	8/21/24		6	%		10,000		10,000
	19		4/1/24		5,000	10/1/24		6	%		5,000		5,000
			Total							$	832,773	$	832,773

CONVERTIBLE NOTES PAYABLE CURRENT (Tables)

3 Months Ended

Sep. 30, 2024

CONVERTIBLE NOTES PAYABLE, CURRENT

Schedule of Convertible Notes Payable, in Defaults

Date of Note Issuance	Original Principal Balance		Maturity Date	Interest Rate %			Conversion Rate		Principal Balance 9/30/24		Principal Balance 6/30/24
8/26/14		50,000	*		10	%	$	0.0001	$	50,000	$	50,000
6/15/12		8,000	*		10	%	$	0.000350		8,000		8,000
10/18/11		1,900	*		8	%	25% discount to market			6,900		6,900
10/3/10		20,000	*		10	%	lesser $0.01 or 20% discount to market			20,000		20,000
10/31/09		4,000	*		8	%	25% discount of previous 5 days closing price			4,000		4,000
2/26/07		30,000	*		12	%	lesser $0.50 or 35% discount to market			30,000		30,000
4/17/07		20,000	*		10	%	lesser $0.45 or 35% discount to market			20,000		20,000
6/14/07		15,000	*		10	%	lesser $0.50 or 25% discount to market			15,000		15,000
1/29/07		15,000	*		10	%	$	0.95		15,000		15,000
4/17/07		15,000	*		10	%	lesser $0.45 or 35% discount to market			15,000		15,000
12/23/06		18,000	*		10	%	$	0.95		18,000		18,000
11/30/06		50,000	*		10	%	$	0.85		50,000		50,000
10/1/05		15,000	*		10	%	$	0.50		15,000		15,000
Total Current									$	266,900	$	266,900

SBA LOAN (Tables)

3 Months Ended

Sep. 30, 2024

SBA LOAN

Schedule of SBA Loan

	Amount Owed

Year Ended June 30, 2025	$	6,829
Year Ended June 30, 2026		7,089
Year Ended June 30, 2027		7,360
Year Ended June 30, 2028		7,641
Year Ended June 30, 2029		7,932

Payments 2030 & Thereafter		286,059
Total Payments	$	322,910

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Sep. 30, 2024

DERIVATIVE FINANCIAL INSTRUMENTS

Schedule of Derivative Liabilities

	September 30, 2024
	Indexed		Fair
The financings giving rise to derivative financial instruments	Shares		Values
Compound embedded derivative		1,461,911	$	200,000

	June 30, 2024
	Indexed		Fair
The financings giving rise to derivative financial instruments	Shares		Values
Compound embedded derivative		818,753	$	193,557

Schedule of Fair Value Derivative Liabilities

	Three Months Ended
	September 30,			September 30,
	2024			2023
Compound embedded derivative	$	(6,443	)	$	(24,733	)
Day one derivative loss		-			-
Total derivative gain (loss)	$	(6,443	)	$	(24,733	)

Schedule of Convertible Notes Classified in Liabilities

	Inception			September 30, 2024			June 30, 2024
Quoted market price on valuation date	$	0.01		$	0.2975		$	0.40
Contractual conversion rate	$	0.0054 - $0.0081		$	0.19 – 0.23		$	0.338 - $0.556
Range of effective contractual conversion rates		-						-
Contractual term to maturity	1.00 Year			0.25 Years			0.25 Years
Market volatility:
Volatility		138.28%-238.13	%		138.28%-238.13	%		138.28%-238.13	%
Contractual interest rate		5%-12	%		5%-12	%	5%-12		%

Schedule of Compound Embedded Derivatives

	September 30, 2024		June 30, 2024
Beginning balance	$	193,557	$	201,607
Issuances:
Convertible Note Financing		-		-
Removals		-		-
Changes in fair value inputs and assumptions reflected		6,443		(8,050	)
Conversions		-		-
Ending balance	$	200,000	$	193,557

PROVISION FOR CORPORATE INCOME TAXES (Tables)

3 Months Ended

Sep. 30, 2024

PROVISION FOR CORPORATE INCOME TAXES

Schedule of Statutory Federal Income Tax Rate

Statutory federal income tax rate	(21	)%
State taxes – net of federal benefits	(5	)%
Valuation allowance	26	%
Income tax rate – net	0	%

LEASES (Tables)

3 Months Ended

Sep. 30, 2024

LEASES

Schedule of Monthly Lease Payment

	Monthly Rent Payments
	Base Rent		Covid-19 Recoup*		Total Rent
April 1, 2021	$	6,369	$	983	$	7,352
May 1, 2021 to December 31, 2021	$	6,369	$	621	$	6,990
January 1, 2022 to December 31, 2022	$	6,433	$	621	$	7,054
January 1, 2023 to December 31, 2023	$	6,497	$	621	$	7,118
January 1, 2024 to December 31, 2024	$	6,562	$	621	$	7,183
January 1, 2025 to December 31, 2025	$	6,628	$	621	$	7,249

Schedule of Right of Use Asset

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Office lease	$	282,371		$	412,770		$	60,115		$	755,256
Less: accumulated amortization		(240,601	)		(253,045	)		(11,826	)		(505,472	)
Right-of-use asset, net	$	41,770		$	159,725		$	48,289		$	249,784

	June 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Total
Office lease	$	282,371		$	412,770		$	695,141
Less: accumulated amortization		(220,493	)		(233,438	)		(453,931	)
Right-of-use asset, net	$	61,878		$	179,332		$	241,210

Schedule of Operating Lease Liability

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Office lease	$	42,405		$	159,725			52,560		$	254,690
Less: current portion		(42,405	)		(83,500	)		(10,275	)		(136,180	)
Long term portion	$	-		$	76,225			42,285		$	118,510

	June 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Total
Office lease	$	62,733		$	179,333		$	242,066
Less: current portion		(62,733	)		(81,447	)		(144,180	)
Long term portion	$	-		$	97,886		$	97,886

Schedule of Finance Lease Right of Use Asset

	September 30, 2024
	Stow Professional Center Lease			S. Frank Professional Lease			Higbee Lease			Total
Year ending June 30, 2025	$	43,293		$	71,192		$	11,208		$	125,693
Year ending June 30, 2026					94,923			14,944			109,867
Year ending June 30, 2027					7,910			15,941			23,851
Year ending June 30, 2028								16,440			16,440
Year ending June 30, 2029		-						5,480			5,480
Total future minimum lease payments		43,293			174,025			64,013			281,331
Present value discount		(888	)		(14,300	)		(11,453	)		(26,641	)
Lease liability	$	42,405		$	159,725			52,560		$	254,690

Schedule of Finance Lease Liability

	As of			As of
	September 30,			June 30,
	2024			2024
Equipment lease	$	24,097		$	24,097
Less accumulated amortization		(13,770	)		(12,622	)
Finance right of use asset	$	10,327		$	11,475

	As of			As of
	September 30,			June 30,
	2024			2024
Equipment lease	$	66,864		$	73,623
Less: current portion		(28,334	)		(27,809	)
Long term portion	$	38,530		$	45,814

Schedule of Maturity of Financing Lease Liability

	Equipment
	Lease
Year Ended June 30, 2025	$	24,291
Year Ended June 30, 2026		32,388
Year Ended June 30, 2027		16,194
Total future minimum lease payments		72,873
Less imputed interest		(6,009	)
PV of payments	$	66,864

GENERAL ORGANIZATION AND BUSINESS (Details Narrative)	1 Months Ended
GENERAL ORGANIZATION AND BUSINESS (Details Narrative)	May 17, 2024
GENERAL ORGANIZATION AND BUSINESS
Description of Exclusive License Agreement	Under the Exclusive License Agreement, SKL will form a subsidiary to distribute Oral Thrush, the Company shall become an 80% owner of the subsidiary, and the Company issued 2,000,000 shares of the Company’s Common Stock to SKL

LIQUIDITY CAPITAL RESOURCES AND GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
LIQUIDITY, CAPITAL RESOURCES AND GOING CONCERN
Total assets	$ 1,278,836		$ 651,881
Total liabilities	6,304,538		6,134,843
Accumulated deficit	(45,444,741)	$ (45,444,741)
Cash receivable for operation activity	174,293	256,662	$ 113,489	$ 157,589
Net Loss	$ (883,531)	$ (165,063)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Sep. 30, 2024
Trademarks
Estimated Useful Lives	Indefinite
Customer Relationship [Member]
Estimated Useful Lives	3 years
Non-Compete Agreement
Estimated Useful Lives	3 years
CARF Accreditation
Estimated Useful Lives	3 years
Franchise Agreements
Estimated Useful Lives	Indefinite

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash insured amount	$ 250,000
Considered anti-dilutive earnings per share	1,084,366,651
Impairment expense of intangible assets		$ 3,123,204

NOTES RECEIVABLE, RELATED PARTIES (Details) - March 2022 [Member] - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Notes receivable from related party	$ 9,294	$ 9,294
Total notes receivable	9,294	9,294
Less long-term	0	0
Total short term notes receivable	$ 9,294	$ 9,294

PROPERTY AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Property, plant and equipment	$ 178,306	$ 166,751
Less: Accumulated depreciation	(67,466)	(59,295)
Property, plant and equipment - net	110,840	107,456
Leasehold improvements [Member]
Property, plant and equipment	20,077	20,077
Vehicles [Member]
Property, plant and equipment	130,135	130,135
Computer equipment [Member]
Property, plant and equipment	25,048	13,493
Furniture and fixtures [Member]
Property, plant and equipment	$ 3,046	$ 3,046

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
PROPERTY AND EQUIPMENT
Depreciation	$ 8,171	$ 16,911

NOTES PAYABLE (Details) - USD ($)	3 Months Ended
NOTES PAYABLE (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Total	$ 434,895	$ 377,594
Total Current	9,553	0
Total Long Term	$ 62,036	60,048
Ref No. 1 [Member]
Interest rate	12.00%
Debt instrument, principal balance	$ 38,000	38,000
Debt instrument, original principal balance		100,000
Date of issuance	9/16/06
Ref No. 2 [Member]
Interest rate	10.00%
Debt instrument, principal balance	$ 30,307	38,572
Debt instrument, original principal balance		146,021
Date of issuance	12/25/20
Maturity date	8/15/25
Ref No. 3 [Member]
Interest rate	9.00%
Debt instrument, principal balance	$ 8,547	8,547
Debt instrument, original principal balance		5,000
Date of issuance	2/24/14
Ref No. 4 [Member]
Interest rate	9.00%
Debt instrument, principal balance	$ 33,687	33,687
Debt instrument, original principal balance		39,000
Date of issuance	2/24/14
Ref No. 5 [Member]
Interest rate	9.00%
Debt instrument, principal balance	$ 33,697	33,697
Debt instrument, original principal balance		179,124
Date of issuance	2/24/14
Ref No.6 [Member]
Interest rate	9.00%
Debt instrument, principal balance	$ 70,560	75,091
Debt instrument, original principal balance		90,985
Date of issuance	7/1/23
Maturity date	5/5/28
Ref No 7 [Member]
Interest rate	12.00%
Debt instrument, principal balance	$ 148,000	150,000
Debt instrument, original principal balance		150,000
Date of issuance	8/21/23
Ref No 8 [Member]
Interest rate	14.00%
Debt instrument, principal balance	$ 40,250	0
Debt instrument, original principal balance		40,250
Date of issuance	7/30/24
Ref No 9 [Member]
Interest rate	12.00%
Debt instrument, principal balance	$ 41,400	0
Debt instrument, original principal balance		51,750
Date of issuance	7/30/24
Total [Member]
Less: Unamortized discount	$ (9,553)	0
Total	434,895	377,594
Total Current	372,859	317,546
Total Long Term	$ 62,036	$ 60,048

NOTES PAYABLE (Details 1)	Sep. 30, 2024 USD ($)
NOTES PAYABLE
Year ending June 30, 2025	$ 378,049
Year ending June 30, 2026	26,422
Year Ended June 30, 2027	20,157
Year Ended June 30, 2028	19,820
Total future payments	$ 444,488

NOTES PAYABLE (Details Narrative) - USD ($)	3 Months Ended
NOTES PAYABLE (Details Narrative) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Outstanding notes payable	$ 434,895	$ 377,594
Promissory Note [Member]
Interest rate	12.00%
Maturity date	May 30, 2025
Debt instrument, original principal balance		51,750
Conversion price description	Notes have a conversion price at the lower of of $0.01 or a 29% discount to the lowest trading price for the 10 prior trading days to the conversion date
Promissory Note One [Member]
Interest rate	14.00%
Maturity date	May 30, 2025
Debt instrument, original principal balance		$ 40,250
Conversion price description	Notes have a conversion price at the lower of of $0.01 or a 29% discount to the lowest trading price for the 10 prior trading days to the conversion date

NOTES PAYABLE, RELATED PARTIES (Details) - USD ($)	3 Months Ended
NOTES PAYABLE, RELATED PARTIES (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Notes payable, related parties, current	$ 832,773	$ 832,773
Notes Payable One [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 308,500	308,500
Maturity date	Jun. 03, 2021
Date of issuance	3/25/21
Interest rate	10.00%
Debt instrument, original principal balance		308,500
Notes Payable Two [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 47,436	47,436
Maturity date	Jun. 03, 2021
Date of issuance	3/25/21
Interest rate	10.00%
Debt instrument, original principal balance		47,436
Notes Payable Three [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 158,502	158,502
Maturity date	Jun. 03, 2021
Date of issuance	3/25/21
Interest rate	10.00%
Debt instrument, original principal balance		158,503
Notes Payable Four [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 39,000	39,000
Maturity date	Sep. 24, 2022
Date of issuance	3/24/22
Interest rate	6.00%
Debt instrument, original principal balance		39,000
Notes Payable Five [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 179,124	179,124
Maturity date	Nov. 05, 2022
Date of issuance	5/5/22
Interest rate	6.00%
Debt instrument, original principal balance		179,124
Notes Payable Six [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 20,000	20,000
Maturity date	Apr. 05, 2023
Date of issuance	10/5/22
Interest rate	6.00%
Debt instrument, original principal balance		20,000
Notes Payable Seven [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 500	500
Maturity date	May 09, 2023
Date of issuance	11/9/22
Interest rate	6.00%
Debt instrument, original principal balance		500
Notes Payable Eight [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 4,000	4,000
Maturity date	May 18, 2023
Date of issuance	11/18/22
Interest rate	6.00%
Debt instrument, original principal balance		4,000
Notes Payable Nine [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 18,000	18,000
Maturity date	Jul. 17, 2023
Date of issuance	1/17/23
Interest rate	6.00%
Debt instrument, original principal balance		18,000
Notes Payable Ten [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 27,000	27,000
Maturity date	Aug. 08, 2023
Date of issuance	2/8/23
Interest rate	6.00%
Debt instrument, original principal balance		27,000
Notes Payable Eleven [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 650	650
Maturity date	Oct. 28, 2023
Date of issuance	4/28/23
Interest rate	6.00%
Debt instrument, original principal balance		650
Notes Payable Twelve [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 900	900
Maturity date	Nov. 16, 2023
Date of issuance	5/16/23
Interest rate	6.00%
Debt instrument, original principal balance		900
Notes Payable Thirteen [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 875	875
Maturity date	Nov. 30, 2023
Date of issuance	5/30/23
Interest rate	6.00%
Debt instrument, original principal balance		875
Notes Payable Fourteen [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 410	410
Date of issuance	5/21/23
Interest rate	6.00%
Debt instrument, original principal balance		410
Notes Payable Fifteen [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 0	875
Maturity date	Dec. 29, 2023
Date of issuance	6/29/23
Interest rate	6.00%
Debt instrument, original principal balance		875
Notes Payable Sixteen [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 5,000	5,000
Maturity date	Jul. 12, 2024
Date of issuance	1/12/24
Interest rate	6.00%
Debt instrument, original principal balance		5,000
Notes Payable Seventeen [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 7,000	7,000
Maturity date	Jul. 16, 2024
Date of issuance	1/16/24
Interest rate	6.00%
Debt instrument, original principal balance		7,000
Notes Payable Eighteen [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 10,000	10,000
Maturity date	Aug. 21, 2024
Date of issuance	2/21/24
Interest rate	6.00%
Debt instrument, original principal balance		10,000
Notes Payable Nineteen [Member] \| Related Party [Member]
Debt instrument, principal balance	$ 5,000	5,000
Maturity date	Oct. 01, 2024
Date of issuance	4/1/24
Interest rate	6.00%
Debt instrument, original principal balance		$ 5,000

NOTES PAYABLE, RELATED PARTIES (Details Narrative) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
NOTES PAYABLE, RELATED PARTIES
Outstanding notes payable, related parties	$ 832,773	$ 832,773
Accrued interest, related parties	$ 225,357	$ 203,711

CONVERTIBLE NOTES PAYABLE CURRENT (Details) - USD ($)	3 Months Ended
CONVERTIBLE NOTES PAYABLE CURRENT (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Total Notes payable Current	$ 266,900
Convertible Notes Payable One [Member]
Date of issuance	8/26/14
Interest rate	10.00%
Conversion rate		$ 0.0001
Debt instrument, principal balance	$ 50,000	$ 50,000
Debt instrument, original principal balance		$ 50,000
Convertible Notes Payable Two [Member]
Date of issuance	6/15/12
Interest rate	10.00%
Conversion rate		$ 0.000350
Debt instrument, principal balance	$ 8,000	$ 8,000
Debt instrument, original principal balance		8,000
Convertible Notes Payable Three [Member]
Date of issuance	10/18/11
Interest rate	8.00%
Debt instrument, principal balance	$ 6,900	6,900
Debt instrument, original principal balance		1,900
Conversion rate	25% discount to market
Convertible Notes Payable Four [Member]
Date of issuance	10/3/10
Interest rate	10.00%
Debt instrument, principal balance	$ 20,000	20,000
Debt instrument, original principal balance		20,000
Conversion rate	lesser $0.01 or 20% discount to market
Convertible Notes Payable Five [Member]
Date of issuance	10/31/09
Interest rate	8.00%
Debt instrument, principal balance	$ 4,000	4,000
Debt instrument, original principal balance		4,000
Conversion rate	25% discount of previous 5 days closing price
Convertible Notes Payable Six [Member]
Date of issuance	2/26/07
Interest rate	12.00%
Debt instrument, principal balance	$ 30,000	30,000
Debt instrument, original principal balance		30,000
Conversion rate	lesser $0.50 or 35% discount to market
Convertible Notes Payable Seven [Member]
Date of issuance	4/17/07
Interest rate	10.00%
Debt instrument, principal balance	$ 20,000	20,000
Debt instrument, original principal balance		20,000
Conversion rate	lesser $0.45 or 35% discount to market
Convertible Notes Payable Eight [Member]
Date of issuance	6/14/07
Interest rate	10.00%
Debt instrument, principal balance	$ 15,000	15,000
Debt instrument, original principal balance		$ 15,000
Conversion rate	lesser $0.50 or 25% discount to market
Convertible Notes Payable Nine [Member]
Date of issuance	1/29/07
Interest rate	10.00%
Conversion rate		$ 0.95
Debt instrument, principal balance	$ 15,000	$ 15,000
Debt instrument, original principal balance		15,000
Convertible Notes Payable Ten [Member]
Date of issuance	4/17/07
Interest rate	10.00%
Debt instrument, principal balance	$ 15,000	15,000
Debt instrument, original principal balance		$ 15,000
Conversion rate	lesser $0.45 or 35% discount to market
Convertible Notes Payable Eleven [Member]
Date of issuance	12/23/06
Interest rate	10.00%
Conversion rate		$ 0.95
Debt instrument, principal balance	$ 18,000	$ 18,000
Debt instrument, original principal balance		$ 18,000
Convertible Notes Payable Twelve [Member]
Date of issuance	11/30/06
Interest rate	10.00%
Conversion rate		$ 0.85
Debt instrument, principal balance	$ 50,000	$ 50,000
Debt instrument, original principal balance		$ 50,000
Convertible Notes Payable Thirteen [Member]
Date of issuance	10/1/05
Interest rate	10.00%
Conversion rate		$ 0.50
Debt instrument, principal balance	$ 15,000	$ 15,000
Debt instrument, original principal balance		$ 15,000

SBA LOAN (Details)	Sep. 30, 2024 USD ($)
SBA LOAN
Year ending June 30, 2025	$ 6,829
Year ending June 30, 2026	7,089
Year ending June 30, 2027	7,360
Year ending June 30, 2028	7,641
Year ending June 30, 2029	7,932
Payments 2030 & Beyond	286,059
Total SBA Loan interest payable	$ 322,910

SBA LOAN (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
SBA LOAN (Details Narrative) - USD ($)	Jan. 06, 2022	Jun. 25, 2020	Sep. 30, 2024	Sep. 30, 2023
Proceeds from related party debt			$ 80,000	$ 81,729
SBA Loan [Member]
Accrued interest related to the SBA loan			$ 0	$ 3,273
Interest rate		3.75%
Debt installment payment		$ 1,746
Installment payment monthly due date		Dec. 22, 2021
Proceeds from related party debt	$ 200,000	$ 150,000

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Compound Embedded Derivative [Member] - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Indexed Shares	1,461,911	818,753
Fair Value	$ 200,000	$ 193,557

DERIVATIVE FINANCIAL INSTRUMENTS (Details 1) - USD ($)	3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Details 1) - USD ($)	Sep. 30, 2024	Sep. 30, 2023
DERIVATIVE FINANCIAL INSTRUMENTS
Compound embedded derivative	$ 6,443	$ 24,733
Total derivative gain (loss)	$ (6,443)	$ (24,733)

DERIVATIVE FINANCIAL INSTRUMENTS (Details 2) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Quoted market price on valuation date	$ 0.2975	$ 0.40	$ 0.55
Minimum [Member]
Contractual term to maturity	3 months	3 months
Volatility	138.28%	138.28%
Contractual conversion rate	$ 0.19
Interest rate	5.00%	5.00%
Maximum [Member]
Volatility	238.13%	238.13%
Contractual conversion rate	$ 0.23
Interest rate	12.00%	12.00%
Inception [Member]
Quoted market price on valuation date	$ 0.01
Inception [Member] \| Minimum [Member]
Volatility	138.28%
Contractual conversion rate	$ 0.0054	$ 0.338
Interest rate	5.00%
Inception [Member] \| Maximum [Member]
Contractual term to maturity	1 year
Volatility	238.13%
Contractual conversion rate	$ 0.0081	$ 0.556
Interest rate	12.00%

DERIVATIVE FINANCIAL INSTRUMENTS (Details 3) - USD ($)	3 Months Ended	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Details 3) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
DERIVATIVE FINANCIAL INSTRUMENTS
Beginning balance	$ 193,557	$ 201,607
Issuances Convertible Note Financing	0	0
Removals	0	0
Changes in fair value inputs and assumptions reflected	6,443	(8,050)
Conversions	0
Ending balance	$ 200,000	$ 193,557

STOCKHOLDERS DEFICIT (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
STOCKHOLDERS DEFICIT (Details Narrative) - USD ($)	Apr. 04, 2024	Apr. 26, 2022	Sep. 30, 2024	Sep. 11, 2024	Jun. 30, 2024	Apr. 12, 2024	Mar. 07, 2024	Aug. 21, 2023
Common stock shares of Vitality RX		10,500,000
Description of Vitality RX shareholders		50,000 shares of Series A Convertible Preferred Stock (which preferred stock is convertible into 5,000,000 shares of common stock)
Preferred stock, shares authorized			500,000,000		500,000,000
Preferred stock, shares par value			$ 0.000001		$ 0.000001
Warrants to purchase			$ 100,000
Restricted common shares issued				2,000,000		1,134,242	1,590,728
Common stock, shares par value			$ 0.000001		$ 0.000001
Shear Kershman Labs [Member]
Common stock, shares par value				$ 0.000001		$ 0.000001	$ 0.000001
Shear Kershman Labs one [Member]
Restricted common shares issued				2,036,666
Common stock, shares par value				$ 0.000001
Convertible Series A Preferred Stock [Member]
Preferred stock, shares authorized					500,000,000
Preferred stock, shares par value					$ 0.000001
Number of preferred stock converted into common stock			100
Series A Preferred Stock - Certificate of Designations [Member]
Preferred stock, shares authorized					500,000,000
Preferred stock, shares par value					$ 0.000001
Number of preferred stock converted into common stock			100
Preferred Stock [Member]
Preferred stock, shares authorized			5,500,000		500,000,000
Preferred stock, shares par value			$ 0.000001		$ 0.000001			$ 0.000001
Conversion Notes Payable Common Shares [Member] \| One Noteholders [Member]
Convertible promissory note converted into common shares	50,075
Convertible promissory notes	$ 11,350

PROVISION FOR CORPORATE INCOME TAXES (Details)	3 Months Ended
PROVISION FOR CORPORATE INCOME TAXES (Details)	Sep. 30, 2024
PROVISION FOR CORPORATE INCOME TAXES
Statutory federal income tax rate	(21.00%)
State taxes - net of federal benefits	(5.00%)
Valuation allowance	26.00%
Income tax rate - net	0.00%

PROVISION FOR CORPORATE INCOME TAXES (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
PROVISION FOR CORPORATE INCOME TAXES
Change in valuation allowance	$ 4,009,262	$ 590,629
Valuation allowance	$ 11,394,318		$ 11,164,600
Expiry term description	available to offset future taxable income through 2040.

UNPAID PAYROLL TAXES (Details Narrative) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
UNPAID PAYROLL TAXES
Payroll related taxes, Internal Revenue Service and New York State	$ 60,402	$ 17,401
Payroll related taxes including penalties and interest, Internal Revenue Service and New York State	$ 77,803	$ 77,803

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Damages plus interests costs and attorney fees	$ 1,841,537
Sarah Cares Corporate 2 [Member]
Description of Lease Square Two Feet	lease for its first corporate-owned SarahCare location is for approximately 5,300 square feet located at 6199 Frank Ave. NW, North Canton, Ohio, 44720. The lease began in 2018 and ends in 2026
Sarah Cares Corporate [Member]
Description of Lease Square Two Feet	SarahCare’s lease for its second corporate-owned SarahCare location is for approximately 6,000 square feet located at SarahCare of Stow, 4472 Darrow Road, Stow, Ohio, 44224. The lease began in 2018 and ends in 2026
SarahCare [Member]
Payment obligation		$ 1,500,000.0	$ 1,500,000
Debt instrument original amount	$ 1,500,000

LEASES (Details)	3 Months Ended
LEASES (Details)	Sep. 30, 2024 USD ($)
April 1, 2021 [Member]
Base Rent	$ 6,369
Covid-19 Recoup	983
Total Rent	7,352
May 1, 2021 to December 31, 2021 [Member]
Base Rent	6,369
Covid-19 Recoup	621
Total Rent	6,990
January 1, 2022 to December 31, 2022 [Member]
Base Rent	6,433
Covid-19 Recoup	621
Total Rent	7,054
January 1, 2023 to December 31, 2023 [Member]
Base Rent	6,497
Covid-19 Recoup	621
Total Rent	7,118
January 1, 2024 to December 31, 2024 [Member]
Base Rent	6,562
Covid-19 Recoup	621
Total Rent	7,183
January 1, 2025 to December 31, 2025 [Member]
Base Rent	6,628
Covid-19 Recoup	621
Total Rent	$ 7,249

LEASES (Details 1) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Office lease	$ 755,256	$ 695,141
Office lease	(755,256)	(695,141)
Less: accumulated amortization	(505,472)	(453,931)
Less: accumulated amortization	505,472	453,931
Right-of-use asset, net	249,784	241,210
Stow Professional Center Lease [Member]
Office lease	282,371	282,371
Office lease	(282,371)	(282,371)
Less: accumulated amortization	(240,601)	(220,493)
Less: accumulated amortization	240,601	220,493
Right-of-use asset, net	412,770	61,878
S. Frank Professional Leases [Member]
Office lease	41,770	412,770
Office lease	(41,770)	(412,770)
Less: accumulated amortization	(253,045)	(233,438)
Less: accumulated amortization	253,045	233,438
Right-of-use asset, net	159,725	$ 179,332
Harbor Lease [Member]
Office lease	60,115
Office lease	(60,115)
Less: accumulated amortization	(11,826)
Less: accumulated amortization	11,826
Right-of-use asset, net	$ 48,289

LEASES (Details 2) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Less: current portion	$ (136,183)	$ (144,182)
Long term portion	118,510	97,886
Operating Lease Liabilty [Member]
Office lease	52,560
Less: current portion	(10,275)
Long term portion	42,285
Stow Professional Center Lease [Member]
Office lease	42,405	62,733
Less: current portion	(42,405)	(62,733)
Long term portion	0	0
S. Frank Professional Leases [Member]
Office lease	159,725	179,333
Less: current portion	(83,500)	(81,447)
Long term portion	76,225	97,886
Harbor Lease [Member]
Office lease	254,690	242,066
Less: current portion	(136,180)	(144,180)
Long term portion	$ 118,510	$ 97,886

LEASES (Details 3) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Stow Professional Center Lease [Member]
Year ending June 30, 2025	$ 43,293
Year ending June 30, 2026	0
Year ending June 30, 2027	0
Year ending June 30, 2028	0
Year ending June 30, 2029	0
Total Lease liability	43,293
Present value discount	(888)
Lease liability	42,405	$ 62,733
Harbor Lease [Member]
Year ending June 30, 2025	11,208
Year ending June 30, 2026	14,944
Year ending June 30, 2027	15,941
Year ending June 30, 2028	16,440
Year ending June 30, 2029	5,480
Total Lease liability	281,331
Present value discount	(26,641)
Lease liability	254,690	$ 242,066
S. Frank Professional Lease [Member]
Year ending June 30, 2025	71,192
Year ending June 30, 2026	94,923
Year ending June 30, 2027	7,910
Total Lease liability	174,025
Present value discount	(14,300)
Lease liability	159,725
Lease [Member]
Year ending June 30, 2025	125,693
Year ending June 30, 2026	109,867
Year ending June 30, 2027	23,851
Year ending June 30, 2028	16,440
Year ending June 30, 2029	5,480
Total Lease liability	64,013
Present value discount	(11,453)
Lease liability	$ 52,560

LEASES (Details 4) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
LEASES
Equipment lease	$ 24,097	$ 24,097
Less: accumulated amortization	(13,770)	(12,622)
Right-of-use asset, net	$ 10,327	$ 11,475

LEASES (Details 5) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
LEASES
Equipment lease	$ 66,864	$ 73,623
Less: current portion	28,334	27,809
Long term portion	$ 38,530	$ 45,814

LEASES (Details 6) - USD ($)	Sep. 30, 2024	Jun. 30, 2024
PV of payments	$ 66,864	$ 73,623
Finance lease liabilities [Member]
Year ending June 30, 2025	24,291
Year ending June 30, 2026	32,388
Year ending June 30, 2027	16,194
Total future minimum lease payments	72,873
Less imputed interest	(6,009)
PV of payments	$ 66,864

LEASES (Details Narrative)	3 Months Ended
LEASES (Details Narrative)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2024 ft²
Impairment of assets	$ 84,364
Interest rate	10.00%
Amortization expense	$ 1,108	$ 5,738
Office lease two [Member]
Lease expiration date	December 1, 2026
Office lease one [Member]
Lease maturity date	March 1, 2024
Monthly lease payments	$ 5,897
Darrow Road Stow Ohio [Member] \| Harbor Lease [Member] \| Sarah Adult Day Centers, Inc [Member]
Acquired area \| ft²			6,000
Lease expiration date	December 31, 2025
Stephen Circle NW Canton OH [Member] \| Harbor Lease [Member] \| Sarah Adult Day Centers, Inc [Member]
Acquired area \| ft²			3,469
Lease expiration date	December 31, 2023
Monthly lease payments	$ 4,500
Jackson Ohio [Member] \| Harbor Lease [Member] \| Sarah Adult Day Centers, Inc [Member]
Acquired area \| ft²			5,300
Lease expiration date	July 1, 2026
Monthly lease payments	$ 7,910
Repayments for COVID relief	$ 603

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)		3 Months Ended
	Jan. 15, 2024	Sep. 30, 2024	Sep. 30, 2023
Charles Everhardt [Member]
Amount payable to related party		$ 3,750,000
Payment made for licensing fees amount included in accounts payable and accrued liabilities			$ 750,000
CEO, Michael Friedman [Member]
Payment for the transactions carried out by related party, description	an exercise price of $0.50/share, exercisable on a cashless basis and for a seven-year term
Common stock granted, shares	3,750,000