CONVERTIBLE NOTES AND NOTES PAYABLE (Tables)

3 Months Ended

Sep. 30, 2022

Convertible notes and notes payable - in default


	September 30, 2022		June 30, 2022
(a) Unsecured convertible notes ($20,000 and $20,000 in default)	$	65,000	$	64,000
(b) Notes payable (in default)		462,000		458,000
(c) Notes payable (in default)		28,000		28,000
Total notes-third parties	$	555,000	$	550,000

Convertible notes and notes payable- related party


	September 30, 2022		June 30, 2022
(a) Convertible notes-The Matthews Group	$	1,883,000	$	1,855,000
(b) Notes payable-The Matthews Group		4,445,000		4,177,000
(c)Convertible notes-other related parties ($235,000 and $233,000 in default)		324,000		321,000
Total notes-related parties	$	6,652,000	$	6,353,000

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

VERITEC INC 10-Q