Income Tax (Tables)

12 Months Ended

Jun. 30, 2023

A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows:

	June 30,
	2023			2022
Statutory U.S. federal rate		(21.00	)%		(21.00	)%
State income taxes (net of federal tax benefit)		(6.50	)%		(6.50	)%
Permanent differences		20.6	%		11.9	%
Valuation allowance		(35.1	)%		(26.4	)%
		0.0	%		0.0	%

The tax effects of the temporary differences and carry forwards that give rise to deferred tax assets consist of the following:

	June 30,
	2023			2022
Deferred tax assets:
Net operating loss carry-forwards	$	4,591,840			2,573,365

Valuation allowance	$	(4,591,840	)		(2,573,365	)
Net deferred tax asset	$			$	-