Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2019 | Dec. 11, 2020 | |
Document Information Line Items | ||
Entity Registrant Name | America Great Health | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --06-30 | |
Entity Common Stock, Shares Outstanding | 20,236,021,836 | |
Amendment Flag | false | |
Entity Central Index Key | 0001098009 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Interactive Data Current | No |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2019 | Jun. 30, 2018 |
CURRENT ASSETS | ||
Cash | $ 198 | $ 15 |
Other receivable | 0 | 100 |
TOTAL CURRENT ASSETS | 198 | 115 |
Long term investment | 0 | 12,978 |
TOTAL ASSETS | 198 | 13,093 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expense | 31,086 | 20,021 |
Income tax payable | 800 | 0 |
Due to related party | 127,470 | 100,525 |
TOTAL CURRENT LIABILITIES | 159,356 | 120,546 |
SHAREHOLDERS' DEFICIT | ||
Redeemable, convertible preferred stock, 10,000,000 shares authorized; Series A voting preferred stock, zero shares issued and outstanding | 0 | 0 |
Common stock, no par value, unlimited shares authorized; 20,236,021,836 and 20,236,021,836 shares issued and outstanding as of March 31, 2019 and June 30, 2018, respectively | 0 | 0 |
Additional paid-in capital | 3,062,230 | 3,062,230 |
Accumulated deficit | (3,221,388) | (3,169,683) |
TOTAL SHAREHOLDERS' DEFICIT | (159,158) | (107,453) |
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | $ 198 | $ 13,093 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parentheticals) - shares | Mar. 31, 2019 | Jun. 30, 2018 |
Statement of Financial Position [Abstract] | ||
Series A voting preferred stock, shares issued | 0 | 0 |
Series A voting preferred stock, shares outstanding | 0 | 0 |
Redeemable, convertible preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Common Stock, shares issued | 20,236,021,836 | 20,236,021,836 |
Common Stock, shares outstanding | 20,236,021,836 | 20,236,021,836 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Statement [Abstract] | ||||
Sales | $ 0 | $ 0 | $ 0 | $ 0 |
Cost of goods sold | 0 | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 | 0 |
Selling, general and administrative expenses | ||||
Professional fee | 2,376 | 8,641 | 28,874 | 32,297 |
Other | 5,155 | 458 | 9,053 | 4,781 |
7,531 | 9,099 | 37,927 | 37,078 | |
Loss from operations | (7,531) | (9,099) | (37,927) | (37,078) |
Other income (expenses) | ||||
Loss on investment | 0 | 0 | (966) | 0 |
Loss on disposal of investment | 0 | 0 | (12,012) | 0 |
0 | 0 | (12,978) | 0 | |
Loss before income taxes | (7,531) | (9,099) | (50,905) | (37,078) |
Income tax provision | 0 | 0 | 800 | 800 |
NET LOSS | $ (7,531) | $ (9,099) | $ (51,705) | $ (37,878) |
BASIC AND DILUTED LOSS PER SHARE (in Dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING BASIC AND DILUTED (in Shares) | 20,236,021,836 | 20,236,021,836 | 20,236,021,836 | 20,236,021,836 |
STATEMENTS OF STOCKHOLDERS' EQU
STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
BALANCE at Jun. 30, 2017 | $ 3,062,230 | $ (3,110,297) | $ (48,067) | |
BALANCE (in Shares) at Jun. 30, 2017 | 20,236,021,836 | |||
Net loss | (28,779) | (28,779) | ||
BALANCE at Dec. 31, 2017 | 3,062,230 | (3,139,076) | (76,846) | |
BALANCE (in Shares) at Dec. 31, 2017 | 20,236,021,836 | |||
BALANCE at Jun. 30, 2017 | 3,062,230 | (3,110,297) | (48,067) | |
BALANCE (in Shares) at Jun. 30, 2017 | 20,236,021,836 | |||
Net loss | (37,878) | |||
BALANCE at Mar. 31, 2018 | 3,062,230 | (3,148,175) | (85,945) | |
BALANCE (in Shares) at Mar. 31, 2018 | 20,236,021,836 | |||
BALANCE at Dec. 31, 2017 | 3,062,230 | (3,139,076) | (76,846) | |
BALANCE (in Shares) at Dec. 31, 2017 | 20,236,021,836 | |||
Net loss | (9,099) | (9,099) | ||
BALANCE at Mar. 31, 2018 | 3,062,230 | (3,148,175) | (85,945) | |
BALANCE (in Shares) at Mar. 31, 2018 | 20,236,021,836 | |||
BALANCE at Jun. 30, 2018 | 3,062,230 | (3,169,683) | $ (107,453) | |
BALANCE (in Shares) at Jun. 30, 2018 | 20,236,021,836 | 20,236,021,836 | ||
Net loss | (44,174) | $ (44,174) | ||
BALANCE at Dec. 31, 2018 | 3,062,230 | (3,213,857) | (151,627) | |
BALANCE (in Shares) at Dec. 31, 2018 | 20,236,021,836 | |||
BALANCE at Jun. 30, 2018 | 3,062,230 | (3,169,683) | $ (107,453) | |
BALANCE (in Shares) at Jun. 30, 2018 | 20,236,021,836 | 20,236,021,836 | ||
Net loss | $ (51,705) | |||
BALANCE at Mar. 31, 2019 | 3,062,230 | (3,221,388) | $ (159,158) | |
BALANCE (in Shares) at Mar. 31, 2019 | 20,236,021,836 | 20,236,021,836 | ||
BALANCE at Dec. 31, 2018 | 3,062,230 | (3,213,857) | $ (151,627) | |
BALANCE (in Shares) at Dec. 31, 2018 | 20,236,021,836 | |||
Net loss | (7,531) | (7,531) | ||
BALANCE at Mar. 31, 2019 | $ 3,062,230 | $ (3,221,388) | $ (159,158) | |
BALANCE (in Shares) at Mar. 31, 2019 | 20,236,021,836 | 20,236,021,836 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Cash Flows from Operating Activities | ||||
Net loss | $ (51,705) | $ (37,878) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Loss from equity investment | $ 0 | $ 0 | 966 | 0 |
Loss on disposal of investment | 0 | 0 | 12,012 | 0 |
Changes in operating Assets and Liabilities: | ||||
Other receivable | 100 | 0 | ||
Accounts payable and accrued expense | 11,064 | 7,281 | ||
Income tax payable | 800 | 0 | ||
Net cash used in operating activities | (26,763) | (30,597) | ||
Cash Flows from Financing Activities | ||||
Advances from related party | 28,446 | 40,752 | ||
Repayment to related party | (1,500) | (12,600) | ||
Net cash provided by financing activities | 26,946 | 28,152 | ||
Net increase (decrease) in cash | 183 | (2,445) | ||
Cash beginning of period | 15 | 3,827 | ||
Cash end of period | $ 198 | $ 1,382 | 198 | 1,382 |
Interest paid | 0 | 0 | ||
Taxes paid | $ 0 | $ 800 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 – BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of America Great Health, formerly Crown Marketing and Subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all normal recurring adjustments considered necessary for a fair presentation have been included. Operating results for the nine months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending June 30, 2019. Nature of the Business Through December 31, 2016, the Company’s primary business activity was the sale of various consumer products and accessories. A change of control of the Company was completed on January 19, 2017 from Jay Hooper, the former officer and director of the Company and its former majority shareholder. Control was obtained by the sale of 16,155,746,000 shares of Company common stock from Mr. Hooper to an investor group led by Mike Q. Wang. In connection with the change of control, the Company sold to its former majority shareholder one of its subsidiary for $100 and another subsidiary in exchange for the cancellation of all payables and accrued expenses. After December 31, 2016, the Company’s operations are determined and structured by the new investor group. As such, the Company accounted for all of its assets, liabilities and results of operations up to January 1, 2017 as discontinued operations. On March 1, 2017, the Company filed with the Secretary of State of the State of Wyoming an Articles of Amendment to change the corporate name from Crown Marketing to America Great Health. On March 9, 2017, the Company formed a wholly owned subsidiary, America Great Health, under the laws of the State of California. Going Concern The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, the Company has incurred recurring net losses. For the nine months ended March 31, 2019, the Company recorded a net loss of $51,705, used cash to fund operating activities of $26,763, and at March 31, 2019, had a shareholders’ deficit of $159,158. These factors create substantial doubt about the Company’s ability to continue as a going concern within the next twelve months from the date these financial statements are available to be issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. During the year ended June 30, 2017, the Company’s former majority shareholder sold his shares to an investor group. The new owners’ plans to continue as a going concern revolve around its ability to achieve profitable operations, as well as raise necessary capital to pay ongoing general and administrative expenses of the Company. The ability of the Company to continue as a going concern is dependent on securing additional sources of capital and the success of the Company’s plan. There is no assurance that the Company will be successful in raising the additional capital or in achieving profitable operations. Our cash needs for the months ended March 31, 2019 were primarily met by loans and advances from current majority shareholder. As of March 31, 2019, we had a cash balance of $198. We intend to finance operating costs over the next twelve months with existing cash on hand and advance from current majority shareholder. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation The condensed consolidated financial statements include the accounts of the Company and its current wholly owned subsidiary, America Great Health in California. Intercompany transactions and accounts have been eliminated in consolidation. Reclassifications Prior period numbers have been reclassified to conform to the current period presentation. Professional fee was reclassified to be separately disclosed on the Consolidated Statements of Operations for the nine months ended March 31, 2019. Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include accounting for potential liabilities and the assumptions made in valuing stock instruments issued for services. Actual results could differ from those estimates. Fair Value Measurements Fair value measurements are determined using authoritative guidance issued by the FASB, with the exception of the application of the guidance to non-recurring, non-financial assets and liabilities as permitted. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly. Level 3—Unobservable inputs based on the Company’s assumptions. The Company is required to use observable market data if available without undue cost and effort. The Company’s financial instruments include cash and accounts payable. Management has estimated that the carrying amounts approximate their fair value due to the short-term nature. Loss per Share Basic earnings (loss) per share are computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings (loss) per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. The Company’s diluted loss per share is the same as the basic loss per share for the nine months ended March 31, 2019 and 2018, as there are no potential shares outstanding that would have a dilutive effect. Income Taxes Income tax expense is based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. The Company recorded a valuation allowance against its deferred tax assets as of June 30, 2018 and 2017. The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Company classifies the liability for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax Recent Accounting Pronouncements In July 2017, the FASB issued Accounting Standards Update 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II)”, which is the replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. The amendments in Part I of this Update that relate to the recognition, measurement, and earnings per share of certain freestanding equity-classified financial instruments that include down round features affect entities that present earnings per share in accordance with the guidance in Topic 260, Earnings Per Share. The amendments in Part II of this Update do not have an accounting effect. The amendments in Part I of the update are effective for fiscal year, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is assessing the impact to its accounting practices and financial reporting procedures as a result of the issuance of this standard. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or is not believed by management to have a material impact on the Company’s present or future consolidated financial statements. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Mar. 31, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 3 – RELATED PARTY TRANSACTIONS During the nine months ended March 31, 2019, the Company's current majority shareholder advanced $28,446 to the Company as working capital. As of March 31, 2019 and June 30, 2018, the Company owed its current majority shareholder of $127,470 and $100,525 respectively. The advances are non-interest bearing and are due on demand. Currently the Company is using a premises for free, the premises is leased by a company owned by its current majority shareholder. |
CONVERTIBLE, REDEEMABLE PREFERR
CONVERTIBLE, REDEEMABLE PREFERRED STOCK | 9 Months Ended |
Mar. 31, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Preferred Stock [Text Block] | NOTE 4 – CONVERTIBLE, REDEEMABLE PREFERRED STOCK During the year ended June 30, 2016, the Company’s Board of Directors authorized the creation of a series of preferred stock consisting of 1,000,000 shares designated as Series A Preferred Stock (the “Series A”). The Series A is entitled to a dividend of 4%, when and as declared, and is entitled to a liquidation preference of $1 per share plus unpaid dividends. The Series A is redeemable at the option of the Company at any time, in whole or in part, at a price of $1.00 per share, plus 4% per annum thereupon from the date of issuance (the “Stated Value”). In the event of any liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, the Series A shall be entitled to a preferential amount equal to the Stated Value, prior to the holders of common stock receiving any distribution. Each share of Series A is automatically converted on the Conversion Date into a number of shares of common stock of the Company at the initial conversion rate (the “Conversion Rate”), which shall be the Stated Value as of the date of conversion divided by the Market Price. The Market Price for purposes of this Section 5 shall be equal to the average closing sales price of the Common Stock over the 5 previous trading days. The Series A is also subject to adjustments to the Conversion Rate. If the common stock issuable on conversion of the Series A is changed into the same or a different number of shares of any other class or classes of stock, whether by capital reorganization, reclassification, or otherwise (other than a subdivision or combination of shares provided for above), the holders of the Series A shall, upon its conversion, be entitled to receive, in lieu of the common stock which the holders would have become entitled to receive but for such change, a number of shares of such other class or classes of stock that would have been subject to receipt by the holders if they had exercised their rights of conversion of the Series A immediately before that change. In August 2016, the Company filed an amendment to its Articles of Incorporation to increase the number of authorized shares of Series A Preferred Stock from 1,000,000 to 10,000,000. There were no preferred shares outstanding as of March 31, 2019 and June 30, 2018. |
SHAREHOLDERS' DEFICIT
SHAREHOLDERS' DEFICIT | 9 Months Ended |
Mar. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 5 – SHAREHOLDERS’ DEFICIT At March 31, 2019 and June 30, 2018, the Company had 20,236,021,836 shares issued and outstanding. |
JOINT VENTURE
JOINT VENTURE | 9 Months Ended |
Mar. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 6 – JOINT VENTURE On March 5th, 2018, America Great Health, a California Corporation (“AAGH California”), a wholly owned subsidiary of the Company, entered into a Sino-foreign Co-operative Joint Venture Contract (the “JV Agreement”) with Guangzhou Bona Biotechnology Co., Ltd. (“Bona”) pursuant to which the parties will establish a joint venture (the “JV Company”) for the purpose of promoting and developing sales channels for health and cosmetics related products supplied by AAGH California in the mainland of the People’s Republic of China, the Hong Kong Special Administration Region and the Macau Special Administration Region (together, the “China Market”). Pursuant to the JV Agreement, AAGH California and Bona will each own 49% and 51% of the JV Company, respectively, and AAGH California has the veto right to the majority shareholder’s decision. The equity method has been used for this JV for the three months ended September 30, 2018. AAGH California will contribute the initial products supply in equivalent of cash amount of RMB 2.45 million to the JV Company and Bona will contribute any required operating capitals, experienced sales team, promotional effort, and customer services to ensure normal day to day operation of the JV Company. Bona will also be responsible for acquiring any required government permits, sales permits, and business licenses for the JV Company. The following table summarizes the income statement of Pomeikang. From date of equity investment to 12/31/2018 Sales $ 20,740 Gross profit 13,739 Net loss (2,803 ) 49% share (1,373 ) The following table provides the summary of balance sheet information for Pomeikang. As of December 31, 2018 Total assets $ 20,565 Net assets 20,565 49% ownership 10,077 Ending balance of investment account before written off 12,012 Difference (1,932 ) The difference of $1,932 was mainly due to the effect of exchange rate. There was no operation during the period from October 1, 2018 to December 31, 2018, therefore at December 31, 2018, the Company decided to no longer participate in Pomeikang’s operations. As a result, a loss on disposal of investment of $12,012 was recorded at December 31, 2018. On April 1, 2019, AAGH California transferred its 49% ownership to Bona for $1. |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 7 – INCOME TAXES As of March 31, 2019, the Company had federal and California income tax net operating loss carryforwards of approximately $3.2 million. These net operating losses will begin to expire 20 years from the date the tax returns are filed. Uncertain Tax Positions Interest associated with unrecognized tax benefits are classified as income tax, and penalties are classified in selling, general and administrative expenses in the statements of operations. For the nine months ended March 31, 2019 and 2018, the Company had no unrecognized tax benefits and related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation The condensed consolidated financial statements include the accounts of the Company and its current wholly owned subsidiary, America Great Health in California. Intercompany transactions and accounts have been eliminated in consolidation. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Prior period numbers have been reclassified to conform to the current period presentation. Professional fee was reclassified to be separately disclosed on the Consolidated Statements of Operations for the nine months ended March 31, 2019. |
Use of Estimates, Policy [Policy Text Block] | Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include accounting for potential liabilities and the assumptions made in valuing stock instruments issued for services. Actual results could differ from those estimates |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements Fair value measurements are determined using authoritative guidance issued by the FASB, with the exception of the application of the guidance to non-recurring, non-financial assets and liabilities as permitted. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows: Level 1—Quoted prices in active markets for identical assets or liabilities. Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly. Level 3—Unobservable inputs based on the Company’s assumptions. The Company is required to use observable market data if available without undue cost and effort. The Company’s financial instruments include cash and accounts payable. Management has estimated that the carrying amounts approximate their fair value due to the short-term nature. |
Earnings Per Share, Policy [Policy Text Block] | Loss per Share Basic earnings (loss) per share are computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings (loss) per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. The Company’s diluted loss per share is the same as the basic loss per share for the nine months ended March 31, 2019 and 2018, as there are no potential shares outstanding that would have a dilutive effect. |
Income Tax, Policy [Policy Text Block] | Income Taxes Income tax expense is based on pretax financial accounting income. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized. The Company recorded a valuation allowance against its deferred tax assets as of June 30, 2018 and 2017. The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Company classifies the liability for unrecognized tax benefits as current to the extent that the Company anticipates payment (or receipt) of cash within one year. Interest and penalties related to uncertain tax |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In July 2017, the FASB issued Accounting Standards Update 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II)”, which is the replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. The amendments in Part I of this Update that relate to the recognition, measurement, and earnings per share of certain freestanding equity-classified financial instruments that include down round features affect entities that present earnings per share in accordance with the guidance in Topic 260, Earnings Per Share. The amendments in Part II of this Update do not have an accounting effect. The amendments in Part I of the update are effective for fiscal year, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is assessing the impact to its accounting practices and financial reporting procedures as a result of the issuance of this standard. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or is not believed by management to have a material impact on the Company’s present or future consolidated financial statements. |
JOINT VENTURE (Tables)
JOINT VENTURE (Tables) | 9 Months Ended |
Mar. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments [Table Text Block] | From date of equity investment to 12/31/2018 Sales $ 20,740 Gross profit 13,739 Net loss (2,803 ) 49% share (1,373 ) As of December 31, 2018 Total assets $ 20,565 Net assets 20,565 49% ownership 10,077 Ending balance of investment account before written off 12,012 Difference (1,932 ) |
BASIS OF PRESENTATION (Details)
BASIS OF PRESENTATION (Details) - USD ($) | Jan. 19, 2017 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2019 | Mar. 31, 2018 | Jun. 30, 2018 | Jun. 30, 2017 |
Accounting Policies [Abstract] | |||||||||
Stock Issued During Period, Shares, Acquisitions (in Shares) | 16,155,746,000 | ||||||||
Proceeds from Sales of Business, Affiliate and Productive Assets | $ 100 | ||||||||
Net Income (Loss) Attributable to Parent | $ (7,531) | $ (9,099) | $ (44,174) | $ (28,779) | $ (51,705) | $ (37,878) | |||
Net Cash Provided by (Used in) Operating Activities | (26,763) | (30,597) | |||||||
Stockholders' Equity Attributable to Parent | (159,158) | $ (85,945) | $ (151,627) | $ (76,846) | (159,158) | $ (85,945) | $ (107,453) | $ (48,067) | |
Cash | $ 198 | $ 198 | $ 15 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | 9 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |||
Proceeds from Related Party Debt | $ 28,446 | $ 40,752 | |
Due to Related Parties, Current | $ 127,470 | $ 100,525 |
CONVERTIBLE, REDEEMABLE PREFE_2
CONVERTIBLE, REDEEMABLE PREFERRED STOCK (Details) - Series A Preferred Stock [Member] - $ / shares | 12 Months Ended | |
Jun. 30, 2016 | Aug. 31, 2016 | |
CONVERTIBLE, REDEEMABLE PREFERRED STOCK (Details) [Line Items] | ||
Preferred Stock, Shares Authorized | 1,000,000 | 10,000,000 |
Preferred Stock, Dividend Rate, Percentage | 4.00% | |
Preferred Stock, Liquidation Preference Per Share | $ 1 | |
Preferred Stock, Redemption Terms | The Series A is redeemable at the option of the Company at any time, in whole or in part, at a price of $1.00 per share, plus 4% per annum thereupon from the date of issuance (the “Stated Value”). | |
Preferred Units, Description | In the event of any liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary, the Series A shall be entitled to a preferential amount equal to the Stated Value, prior to the holders of common stock receiving any distribution. Each share of Series A is automatically converted on the Conversion Date into a number of shares of common stock of the Company at the initial conversion rate (the “Conversion Rate”), which shall be the Stated Value as of the date of conversion divided by the Market Price. The Market Price for purposes of this Section 5 shall be equal to the average closing sales price of the Common Stock over the 5 previous trading days |
SHAREHOLDERS' DEFICIT (Details)
SHAREHOLDERS' DEFICIT (Details) - shares | Mar. 31, 2019 | Jun. 30, 2018 |
Stockholders' Equity Note [Abstract] | ||
Common Stock, Shares, Issued | 20,236,021,836 | 20,236,021,836 |
Common Stock, Shares, Outstanding | 20,236,021,836 | 20,236,021,836 |
JOINT VENTURE (Details)
JOINT VENTURE (Details) ¥ in Thousands | Apr. 01, 2019USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2019CNY (¥) | Mar. 31, 2018USD ($) |
JOINT VENTURE (Details) [Line Items] | ||||||
Equity Method Investment, Ownership Percentage | 49.00% | 49.00% | 49.00% | |||
Payments to Acquire Interest in Joint Venture | ¥ | ¥ 2,450 | |||||
Foreign Currency Transaction Gain (Loss), Realized | $ 1,932 | |||||
Gain (Loss) on Disposition of Assets | $ 0 | $ 0 | $ (12,012) | $ 0 | ||
Guangzhou Bona Niotechnology Co., Ltd [Member] | ||||||
JOINT VENTURE (Details) [Line Items] | ||||||
Equity Method Investment, Ownership Percentage | 49.00% | |||||
Payments to Acquire Interest in Joint Venture | $ 1 | |||||
Guangzhou Bona Niotechnology Co., Ltd [Member] | ||||||
JOINT VENTURE (Details) [Line Items] | ||||||
Equity Method Investment, Ownership Percentage | 51.00% | 51.00% | 51.00% |
JOINT VENTURE (Details) - Equi
JOINT VENTURE (Details) - Equity Method Investments - Corporate Joint Venture [Member] | 9 Months Ended | 13 Months Ended |
Mar. 31, 2019USD ($) | Mar. 31, 2019USD ($) | |
Schedule of Equity Method Investments [Line Items] | ||
Sales | $ 20,740 | |
Gross profit | 13,739 | |
Net loss | (2,803) | |
49% share | (1,373) | |
Total assets | $ 20,565 | 20,565 |
Net assets | 20,565 | 20,565 |
49% ownership | 10,077 | 10,077 |
Ending balance of investment account before written off | 12,012 | $ 12,012 |
Difference | $ (1,932) |
JOINT VENTURE (Details) - Eq_2
JOINT VENTURE (Details) - Equity Method Investments (Parentheticals) | Mar. 31, 2019 |
Corporate Joint Venture [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Ownership | 49.00% |
INCOME TAXES (Details)
INCOME TAXES (Details) $ in Millions | Mar. 31, 2019USD ($) |
Income Tax Disclosure [Abstract] | |
Operating Loss Carryforwards | $ 3.2 |