Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Sep. 30, 2018 | Nov. 16, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | HQDA ELDERLY LIFE NETWORK CORP. | |
Entity Central Index Key | 1,304,730 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business Flag | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 137,128,013 | |
Trading Symbol | HQDA | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,019 |
Consolidated Interim Balance Sh
Consolidated Interim Balance Sheets - USD ($) | Sep. 30, 2018 | Jun. 30, 2018 |
Current | ||
Cash | $ 165,054 | $ 9,701,075 |
Loan receivable | 4,413,848 | 52,877 |
Prepaid expenses | 41,309 | 6,567 |
Total current assets | 4,620,211 | 9,760,519 |
Non-current | ||
Deposits | 768,660 | 18,233,403 |
Properties and equipment | 34,579,905 | 1,912 |
Total Non-current | 35,348,565 | 18,235,315 |
Total Assets | 39,968,776 | 27,995,834 |
Current | ||
Accounts payable and accrued liabilities | 32,546 | 8,460 |
Share Subscription funds to be returned | 1,982,911 | 1,982,911 |
Unearned revenues | 9,822 | |
Payable for purchase of properties | 5,715,490 | |
Total current liabilities | 7,740,769 | 1,991,371 |
Non-current | ||
Payable for purchase of properties | 6,250,727 | |
Total liabilities | 13,991,496 | 1,991,371 |
Stockholders' deficit | ||
Capital stock Authorized: 200,000,000 common shares, $0.001 par value Issued and outstanding: 30 September 2018 - 137,128,013 common shares, 30 June 2018 - 79,925,000 common shares | 137,129 | 79,925 |
Capital stock Authorized: 10,000,000 preferred shares, $0.001 par value | ||
Additional paid-in capital | 55,006,292 | 9,264,384 |
Share subscriptions received in advance | 18,189,623 | |
Deficit | (29,166,141) | (1,529,469) |
Total shareholders' deficiency | 25,977,280 | 26,004,463 |
Total liabilities and shareholders' deficiency | $ 39,968,776 | $ 27,995,834 |
Consolidated Interim Balance _2
Consolidated Interim Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2018 | Jun. 30, 2018 | Jun. 26, 2017 |
Statement of Financial Position [Abstract] | |||
Capital stock, common shares authorized | 200,000,000 | 200,000,000 | 75,000,000 |
Capital stock, common share par value | $ 0.001 | $ 0.001 | $ 0.001 |
Capital stock, common shares issued | 137,128,013 | 79,925,000 | |
Capital stock, common shares outstanding | 137,128,013 | 79,925,000 | |
Capital stock, preferred shares, authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Capital stock, preferred shares, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Consolidated Interim Statements
Consolidated Interim Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Income Statement [Abstract] | ||
Revenues | $ 41,782 | |
Expenses | ||
Bank charges and interest | 113 | 105 |
Consulting fees | 73,250 | 32,500 |
Depreciation | 47,797 | |
Filing and financing fees | 1,665 | |
Foreign exchange loss | 282,482 | |
Legal and accounting | 35,612 | 24,409 |
Management fees | 24,000 | 22,500 |
Office and miscellaneous | 10,881 | 1,210 |
Regulatory fees | 1,689 | 10,000 |
Rent | 2,850 | 3,800 |
Transfer agent fees | 4,150 | |
Travel | 9,024 | 272 |
Stock based compensation | 27,125,714 | |
Website development | 68,613 | |
Loss before other item | 27,640,243 | 100,611 |
Other item | ||
Interest income | 3,571 | |
Net loss for the period | $ 27,636,672 | $ 100,611 |
Basic and diluted loss per common share | $ 0.44 | $ 0.04 |
Weighted average number of common shares outstanding | 62,740,452 | 25,443,696 |
Consolidated Interim Statemen_2
Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities | ||
Net loss | $ (27,636,672) | $ (100,611) |
Adjustments to reconcile loss to net cash used by operating activities | ||
Depreciation | 47,797 | |
Stock based compensation | 27,125,714 | |
Changes in operating assets and liabilities | ||
Decrease in amounts receivable | 50,000 | |
Increase in prepaid expenses | (34,742) | (6,467) |
Increase (decrease) in accounts payable and accrued liabilities | 24,086 | (3,596) |
Increase in unearned revenues | 9,822 | |
Net cash used in operating activities | (463,995) | (60,674) |
Cash flows from investing activities | ||
Purchase of properties and equipment | (5,194,830) | (3,157) |
Loans receivable | (4,360,971) | |
Net cash provided by investing activities | (9,555,801) | (3,157) |
Cash flows from financing activities | ||
Issuance of common shares for cash | 483,775 | 156,775 |
Net cash provided by financing activities | 483,775 | 156,775 |
Increase (decrease) in cash | (9,536,021) | 92,944 |
Cash, beginning | 9,701,075 | |
Cash, ending | $ 165,054 | $ 92,944 |
Consolidated Interim Statemen_3
Consolidated Interim Statements of Changes in Stockholders’ Deficit (Unaudited) - USD ($) | Capital Stock [Member] | Additional Paid-In Capital [Member] | Share Subscriptions Received in Advance [Member] | Deficit Accumulated [Member] | Total |
Balance at Jun. 30, 2017 | $ 9,945 | $ 1,086,255 | $ (1,061,987) | $ 34,213 | |
Balance, shares at Jun. 30, 2017 | 9,945,000 | ||||
Common shares issued for cash | $ 27,610 | 1,352,890 | (1,223,725) | 156,775 | |
Common shares issued for cash, shares | 27,610,000 | ||||
Net loss | (100,611) | (100,611) | |||
Balance at Sep. 30, 2017 | $ 37,555 | 2,439,145 | (1,223,725) | (1,162,598) | 90,377 |
Balance, shares at Sep. 30, 2017 | 37,555,000 | ||||
Common shares issued for cash | $ 42,370 | 6,825,239 | 1,223,725 | 8,091,334 | |
Common shares issued for cash, shares | 42,370,000 | ||||
Share subscriptions received | 18,189,623 | 18,189,623 | |||
Net loss | (366,871) | (366,871) | |||
Balance at Jun. 30, 2018 | $ 79,925 | 9,264,384 | 18,189,623 | (1,529,469) | 26,004,463 |
Balance, shares at Jun. 30, 2018 | 79,925,000 | ||||
Common shares issued for cash | $ 57,204 | 45,741,908 | (18,189,623) | 27,609,489 | |
Common shares issued for cash, shares | 57,203,013 | ||||
Net loss | (27,636,672) | (27,636,672) | |||
Balance at Sep. 30, 2018 | $ 137,129 | $ 55,006,292 | $ (29,166,141) | $ 25,977,280 | |
Balance, shares at Sep. 30, 2018 | 137,128,013 |
Nature and Continuance of Opera
Nature and Continuance of Operations | 3 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature and Continuance of Operations | 1. Nature and Continuance of Operations HQDA Elderly Life Network Corp. (formerly Hartford Retirement Network Corp.) (the “Company”) was incorporated under the laws of the State of Nevada on 21 January 2004. Effective 26 June 2017, the Company changed its name to Hartford Retirement Network Corp. and increased its authorized shares of common stock, par value $0.001 per share from 75,000,000 to 200,000,000 and authorized 10,000,000 preferred stock, par value $0.001 per share, with such rights, preferences and limitations as may be set from time to time by resolution of the Board of Directors (Note 6). These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company was in the business of acquiring and exploring mineral properties. In May 2017, the Company shifted its focus to senior housing and retirement services and products. The Company is devoting all of its present efforts in establishing a new business. These consolidated interim financial statements do not include all information and footnotes required by GAAP for complete financial statements. Except as disclosed herein, there have been no material changes in the information disclosed in the notes to the financial statements for the year ended 30 June 2018 included in the Company’s Annual Report on Form 10-K, filed with the SEC. The interim unaudited financial statements should be read in conjunction with those financial statements for the year ended 30 June 2018 included in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments considered necessary for fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three months ended September 30, 2018, are not necessarily indicative of the results that may be expected for the year ending 30 June 2019. The Company’s consolidated interim financial statements as at 30 September 2018 and for the three months then ended 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. The Company reported a net loss of $27,636,672 for the three months ended 30 September 2018 and has a working deficit of $3,120,558 at 30 September 2018. Management cannot provide assurance that the Company will ultimately achieve profitable operations or become cash flow positive, or raise additional debt and/or equity capital. Management believes that the Company’s capital resources will not be adequate to continue operating and maintaining its business strategy for the next 12 months. If the Company is unable to raise additional capital in the near future, management expects that the Company will need to curtail operations, seek additional capital on less favorable terms and/or pursue other remedial measures. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. At 30 September 2018, the Company had an accumulated deficit of $29,166,141 and cash of $165,054. Although management is currently attempting to implement its new business plan, and is seeking additional sources of equity or debt financing, there is no assurance these activities will be successful. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Principles of Consolidation The Company’s consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Shanghai Hartford Health Management Ltd., a company incorporated in the People’s Republic of China from 9 November 2017.All inter-company balances have been eliminated upon consolidation. |
Recent Accounting Pronouncement
Recent Accounting Pronouncement | 3 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Recent Accounting Pronouncement | 2. Recent Accounting Pronouncement In February 2016, the FASB issued ASU No. 2016-02 (Topic 842) “Leases.” Topic 842 supersedes the lease recognition requirements in Accounting Standards Codification (“ASC”) Topic 840 “Leases.” Under Topic 842, lessees are required to recognize assets and liabilities on the balance sheet for most leases and provide enhanced disclosures. Leases will continue to be classified as either finance or operating. Topic 842 is effective for annual reporting periods and interim periods within those years beginning after 15 December 2018. Early adoption by public entities is permitted. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements, and there are certain optional practical expedients that an entity may elect to apply. Full retrospective application is prohibited. The Company does not anticipate this amendment to have a significant impact on the financial statements. In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. ASU 2016-13 is effective for annual reporting periods, and interim periods within those years beginning after 15 December 2019. The Company does not anticipate this amendment to have a significant impact on the consolidated financial statements. Revenue consist primarily of hotel rental income. We apply the five-step model outlined in Accounting Standards Codification Topic 606, Revenue from Contracts from Customers (ASC 606). Revenue is recognized when control of the promised products or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services (the transaction price). We Adopted ASC 606 effective July 1, 2018. As a result, we have changed our accounting for revenue recognition. We applied ASC 606 using the modified retrospective method and there was no material impact to our consolidated financial statements related to the adoption of ASC 606 |
Loans Receivable
Loans Receivable | 3 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Loans Receivable | 3. Loans Receivable During the year ended 30 June 2018, the Company loaned $1,576,921 (RMB 10,437,800) to Shanghai Qiao Garden Group (“Shanghai Qiao Garden”). The loan was unsecured, bears interest at 8% per annum and due on demand. During the year ended 30 June 2018, the Company received $1,524,044 (RMB 10,087,800). During the year ended 30 June 2018, the Company waived $51,299, the full amount of accrued interest as the Company demanded the payment prematurely (2017 - $Nil). During the three-month period ended 30 September 2018, the Company loaned $4,360,971 (RMB 30,000,000) to Zhonghuaai Wufu (Shanghai) Hotel Management Ltd. The loan was unsecured, bears interest at 4.35% per annum and due in one year (Note 7). |
Asset Purchase Agreement
Asset Purchase Agreement | 3 Months Ended |
Sep. 30, 2018 | |
Asset Purchase Agreement | |
Asset Purchase Agreement | 4. Asset Purchase Agreement On 2 April 2018, the Company entered into an Asset Purchase Agreement (the “APA”) whereby the Company will purchase land, buildings, and right to use, construction use rights and other property rights located in Shanghai from Shanghai Qiao Garden (Note 11). Properties are split into two groups: ● Property A: land use rights and adhesive substance use rights, right to own, and right to operate of the land located in Shanghai Pudong New Area Zhangjiang Ziwei Rd No. 372 and No. 376. Assets are owned by Shanghai Qiao Garden Real Estate Group, a subsidiary 100% owned by Shanghai Qiao Garden; ● Property B: land use right, adhesive substance under construction use rights, right to own, and right to operate of the land located in Shanghai Chongming District San Shuang Gong Lu No. 4797. Assets are owned by Shanghai Qiao Garden Information Technology, Ltd. (“Transferor”), a subsidiary 100% owned by Shanghai Qiao Garden. The Company has agreed to pay the purchase price totaling of RMB 233,000,000 in instalments over the next 20 months as follows: a. RMB 7,000,000 before 9 April 2018 (paid); b. RMB 43,000,000 before 10 April 2018 (paid); c. RMB 20,000,000 before 10 May 2018 (paid); d. RMB 20,000,000 before 31 July 2018 (paid); e. RMB 35,000,000 before 30 October 2018 (paid); f. RMB 35,000,000 before 30 December 2018 (RMB 25,682,000 paid); g. RMB 30,000,000 before 30 April 2019; h. RMB 22,000,000 before 31 August 2019; and i. RMB 21,000,000 before 31 December 2019. As at 30 June 2018, the Company has paid $18,233,403 (RMB 115,682,000) as deposits. During the three months ended 30 September 2018, the Company has paid $5,131,000 (RMB 35,000,000). On 1 September 2018, the Company has obtained the full management and operation rights of the hotel property and all other assets of Property A. The cost of $34,625,790 including the remaining balance of the purchase prices has been transferred to properties and equipment. On 8 August 2018, the Company has entered into a share purchase agreement to acquire Property B by acquiring 100% outstanding shares of the Transferor for $731,968 (RMB 5,000,000). The total payments has been included in the deposits paid by the Company and shares will be transferred when all current and potential liabilities are settled by the Transferor. |
Properties and Equipment
Properties and Equipment | 3 Months Ended |
Sep. 30, 2018 | |
Property, Plant and Equipment [Abstract] | |
Properties and Equipment | 5. Properties and Equipment Property A Furniture and Office Equipment Total $ $ $ COSTS 30 June 2017 - - - Additions - 3,157 3,157 30 June 2018 - 3,157 3,157 Additions 34,625,790 - 34,625,790 30 September 2018 34,625,790 3,157 34,628,947 ACCUMULATED DEPRECIATION 30 June 2017 - - - Additions - 1,245 1,245 30 June 2018 - 1,245 1,245 Additions 47,457 340 47,797 30 September 2018 47,457 1,585 49,042 NET BOOK VALUE 30 June 2017 - - - 30 June 2018 - 1,912 1,912 30 September 2018 34,578,333 1,572 34,579,905 |
Capital Stock
Capital Stock | 3 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Capital Stock | 6. Capital Stock Authorized The total authorized capital is 200,000,000 common shares with a par value of $0.001 and 10,000,000 preferred shares with a par value of $0.001. On 26 June 2017, the Company increased the authorized shares of common stock of the Company from 75,000,000 shares to 200,000,000 shares and authorized the issuance of up to 10,000,000 shares of preferred stock, with such rights, preferences and limitations as may be set from time to time by resolution of the Board of Directors (Note 1). Issued and outstanding At 30 September 2018, the total issued and outstanding capital stock is 137,128,013 common shares with a par value of $0.001 per common share (30 June 2018 – 79,925,000). On 4 September 2018, the Company completed a private placement of 41,731,867 common shares for total proceeds of $6,259,780. A stock based compensation of $27,125,714 has been recognized during the issuance of shares (Note 6). On 11 July 2018, the Company completed a private placement of 15,471,146 common shares for total proceeds of $12,413,618. On 7 April 2018, the Company completed a private placement of 47,500,000 common shares for total proceeds of $7,124,109. On 2 March 2018, the Company completed a private placement of 2,920,000 common shares for total proceeds of $146,000. On 5 October 2017, the Company completed a private placement of 5,000,000 common shares for total proceeds of $250,000. On 8 September 2017, the Company completed a private placement of 1,950,000 common shares for total proceeds of $97,500. On 8 August 2017, the Company completed a private placement of 19,910,000 common shares for total proceeds of $995,500 On 4 August 2017, the Company completed a private placement of 5,750,000 common shares for total proceeds of $287,500. During the year ended 30 June 2018, the Company cancelled 13,050,000 common shares for total proceeds of $652,500 which was not received. As at 30 June 2018, the Company received $1,982,911 in subscription funds that will be returned to investors due to overpayments in subscription. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Sep. 30, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 7. Related Party Transactions During the three months ended 30 September 2018, the Company paid management fee of $24,000 to the Company’s Chief Financial Officer (2017 - $22,500). During the three months ended 30 September 2018, the Company issued 41,731,867 shares with total proceeds of $6,259,780. A stock based compensation of $27,125,714 has been recognized during the issuance of shares (Note 6). Included in accounts payable and accrued liabilities was $2,566 (30 June 2018 - $3,160) due to the Company’s Chief Financial Officer. The amount is non-interest bearing, unsecured and due on demand. During the three-month period ended 30 September 2018, the Company loaned $4,360,971 (RMB 30,000,000) to Zhonghuaai Wufu (Shanghai) Hotel Management Ltd. which has common directors and officers with the Company. The loan was unsecured, bears interest at 4.35% per annum, unsecured and due in one year (Note 4). |
Supplemental Disclosures with R
Supplemental Disclosures with Respect to Cash Flows | 3 Months Ended |
Sep. 30, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosures with Respect to Cash Flows | 8. Supplemental Disclosures with Respect to Cash Flows For the three months ended 30 September 2018 $ For the three months ended 30 September 2017 $ Cash paid during the period for interest - - Cash paid during the period for income taxes - - |
Subsequent Event
Subsequent Event | 3 Months Ended |
Sep. 30, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Event | 9. Subsequent Event Subsequent to 30 September 2018, the Company cancelled 2,478,639 of its common stock due to no payments were received from subscribers. |
Commitments
Commitments | 3 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | 10. Commitments The Company entered into the APA to purchase two properties in Shanghai totaling RMB 233,000,000. Payments of $23,364,403 (RMB 150,682,000) has been made and remainder of $11,966,217 (RMB 82,318,000) are due in 18 months (Note 4). On 15 June 2018, the Company entered into a conference consultancy service agreement whereas the consultant will provide consulting service and assistance to the Company to hold 30 conferences in China within a two-year period for a total purchase price of $794,000 (RMB 5,250,000). |
Properties and Equipment (Table
Properties and Equipment (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Properties and Equipment | Property A Furniture and Office Equipment Total $ $ $ COSTS 30 June 2017 - - - Additions - 3,157 3,157 30 June 2018 - 3,157 3,157 Additions 34,625,790 - 34,625,790 30 September 2018 34,625,790 3,157 34,628,947 ACCUMULATED DEPRECIATION 30 June 2017 - - - Additions - 1,245 1,245 30 June 2018 - 1,245 1,245 Additions 47,457 340 47,797 30 September 2018 47,457 1,585 49,042 NET BOOK VALUE 30 June 2017 - - - 30 June 2018 - 1,912 1,912 30 September 2018 34,578,333 1,572 34,579,905 |
Supplemental Disclosures with_2
Supplemental Disclosures with Respect to Cash Flows (Tables) | 3 Months Ended |
Sep. 30, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Supplemental Cash Flow Information | For the three months ended 30 September 2018 $ For the three months ended 30 September 2017 $ Cash paid during the period for interest - - Cash paid during the period for income taxes - - |
Nature and Continuance of Ope_2
Nature and Continuance of Operations (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 26, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Common stock, par value per share | $ 0.001 | $ 0.001 | $ 0.001 | ||
Common stock shares authorized | 200,000,000 | 200,000,000 | 75,000,000 | ||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||
Net income (loss) | $ 27,636,672 | $ 100,611 | $ 366,871 | ||
Working capital | 3,120,558 | ||||
Accumulated deficit | 29,166,141 | 1,529,469 | |||
Cash | $ 165,054 | $ 92,944 | $ 9,701,075 |
Loans Receivable (Details Narra
Loans Receivable (Details Narrative) | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2018CNY (¥) | Sep. 30, 2018CNY (¥) | Jun. 30, 2018CNY (¥) | Jun. 30, 2017USD ($) | |
Loans receivable | $ 4,413,848 | $ 52,877 | ||||
Bears interest rate | 8.00% | 8.00% | ||||
Accrued interest waived, value | $ 51,299 | |||||
Shanghai Qiao Garden [Member] | ||||||
Loans receivable | 1,576,921 | |||||
Proceeds from repayments of loan | $ 1,524,044 | |||||
Shanghai Qiao Garden [Member] | RMB [Member] | ||||||
Loans receivable | ¥ | ¥ 10,437,800 | |||||
Proceeds from repayments of loan | ¥ | ¥ 10,087,800 | |||||
Zhonghuaai Wufu [Member] | ||||||
Loans receivable | $ 4,360,971 | |||||
Bears interest rate | 4.35% | 4.35% | ||||
Loan due period | 1 year | |||||
Zhonghuaai Wufu [Member] | RMB [Member] | ||||||
Loans receivable | ¥ | ¥ 30,000,000 |
Asset Purchase Agreement (Detai
Asset Purchase Agreement (Details Narrative) | Aug. 08, 2018USD ($) | Aug. 08, 2018CNY (¥) | Apr. 02, 2018CNY (¥) | Sep. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2018CNY (¥) | Sep. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2018CNY (¥) |
Payments for purchase of assets | $ | $ 5,194,830 | $ 3,157 | |||||||
Deposits | $ | $ 18,233,403 | ||||||||
Transferred to properties and equipment amount | $ | $ 34,625,790 | ||||||||
RMB [Member] | |||||||||
Payments for purchase of assets | ¥ 25,682,000 | ||||||||
Deposits | ¥ 115,682,000 | ||||||||
RMB [Member] | Before 9 April 2018 [Member] | |||||||||
Payments for purchase of assets | 7,000,000 | ||||||||
RMB [Member] | Before 10 April 2018 [Member] | |||||||||
Payments for purchase of assets | 43,000,000 | ||||||||
RMB [Member] | Before 10 May 2018 [Member] | |||||||||
Payments for purchase of assets | 20,000,000 | ||||||||
RMB [Member] | Before 31 July 2018 [Member] | |||||||||
Payments for purchase of assets | 20,000,000 | ||||||||
RMB [Member] | Before 30 October 2018 [Member] | |||||||||
Payments for purchase of assets | 35,000,000 | ||||||||
RMB [Member] | Before 30 December 2018 [Member] | |||||||||
Payments for purchase of assets | 35,000,000 | ||||||||
RMB [Member] | Before 30 April 2019 [Member] | |||||||||
Payments for purchase of assets | 30,000,000 | ||||||||
RMB [Member] | Before 31 August 2019 [Member] | |||||||||
Payments for purchase of assets | 22,000,000 | ||||||||
RMB [Member] | Before 31 December 2019 [Member] | |||||||||
Payments for purchase of assets | 21,000,000 | ||||||||
Shanghai Qiao Garden [Member] | RMB [Member] | |||||||||
Payments for purchase of assets | 35,000,000 | ||||||||
Asset Purchase Agreement [Member] | |||||||||
Payments for purchase of assets | $ | $ 23,364,403 | ||||||||
Asset Purchase Agreement [Member] | RMB [Member] | |||||||||
Payments for purchase of assets | ¥ 150,682,000 | ||||||||
Asset Purchase Agreement [Member] | Land Buildings and Property Rights [Member] | RMB [Member] | |||||||||
Payments for purchase of assets | ¥ 233,000,000 | ||||||||
Asset Purchase Agreement [Member] | Shanghai Qiao Garden [Member] | Property A [Member] | |||||||||
Ownership percentage | 100.00% | ||||||||
Asset Purchase Agreement [Member] | Shanghai Qiao Garden [Member] | Property B [Member] | |||||||||
Ownership percentage | 100.00% | ||||||||
Share Purchase Agreement [Member] | Shanghai Qiao Garden Information Technology, Ltd. [Member] | |||||||||
Business acquisition outstanding shares value | $ | $ 731,968 | ||||||||
Share Purchase Agreement [Member] | RMB [Member] | Shanghai Qiao Garden Information Technology, Ltd. [Member] | |||||||||
Business acquisition outstanding shares value | ¥ 5,000,000 | ||||||||
Share Purchase Agreement [Member] | Property B [Member] | |||||||||
Business acquisition percentage | 100.00% | 100.00% |
Properties and Equipment - Sche
Properties and Equipment - Schedule of Properties and Equipment (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Jun. 30, 2018 | |
Costs, Beginning | $ 3,157 | |
Additions | 34,625,790 | 3,157 |
Costs, Ending | 34,628,947 | 3,157 |
Accumulated depreciation, Beginning | 1,245 | |
Additions | 47,797 | 1,245 |
Accumulated depreciation, Ending | 49,042 | 1,245 |
Net book value, Beginning | 1,912 | |
Net book value, Ending | 34,579,905 | 1,912 |
Property A [Member] | ||
Costs, Beginning | ||
Additions | 34,625,790 | |
Costs, Ending | 34,625,790 | |
Accumulated depreciation, Beginning | ||
Additions | 47,457 | |
Accumulated depreciation, Ending | 47,457 | |
Net book value, Beginning | ||
Net book value, Ending | 34,578,333 | |
Furniture and Office Equipment [Member] | ||
Costs, Beginning | 3,157 | |
Additions | 3,157 | |
Costs, Ending | 3,157 | 3,157 |
Accumulated depreciation, Beginning | 1,245 | |
Additions | 340 | 1,245 |
Accumulated depreciation, Ending | 1,585 | 1,245 |
Net book value, Beginning | 1,912 | |
Net book value, Ending | $ 1,572 | $ 1,912 |
Capital Stock (Details Narrativ
Capital Stock (Details Narrative) - USD ($) | Sep. 04, 2018 | Jul. 11, 2018 | Apr. 07, 2018 | Mar. 02, 2018 | Oct. 05, 2017 | Sep. 08, 2017 | Aug. 08, 2017 | Aug. 04, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Jun. 26, 2017 |
Common stock, shares authorized | 200,000,000 | 200,000,000 | 75,000,000 | |||||||||
Common stock, par value per share | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | |||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||
Capital stock, shares issued | 137,128,013 | 79,925,000 | ||||||||||
Capital stock, shares outstanding | 137,128,013 | 79,925,000 | ||||||||||
Stock based compensation | $ 27,125,714 | |||||||||||
Number of common shares cancelled | 13,050,000 | |||||||||||
Proceeds from common shares cancelled | $ 652,500 | |||||||||||
Share subscription funds to be returned | $ 1,982,911 | $ 1,982,911 | ||||||||||
Private Placement [Member] | ||||||||||||
Common shares issued for private placements, shares | 41,731,867 | 15,471,146 | 47,500,000 | 2,920,000 | 5,000,000 | 1,950,000 | 19,910,000 | 5,750,000 | 41,731,867 | |||
Proceeds from private placement | $ 6,259,780 | $ 12,413,618 | $ 7,124,109 | $ 146,000 | $ 250,000 | $ 97,500 | $ 995,500 | $ 287,500 | ||||
Stock based compensation | $ 27,125,714 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) | Sep. 04, 2018shares | Jul. 11, 2018shares | Apr. 07, 2018shares | Mar. 02, 2018shares | Oct. 05, 2017shares | Sep. 08, 2017shares | Aug. 08, 2017shares | Aug. 04, 2017shares | Sep. 30, 2018USD ($)shares | Sep. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Sep. 30, 2018CNY (¥) |
Management fees | $ 24,000 | $ 22,500 | ||||||||||
Number of shares issued | 27,609,489 | 156,775 | $ 8,091,334 | |||||||||
Stock based compensation | 27,125,714 | |||||||||||
Loans receivable | 4,413,848 | $ 52,877 | ||||||||||
Unsecured loan bears interest rate | 8.00% | |||||||||||
Zhonghuaai Wufu [Member] | ||||||||||||
Loans receivable | $ 4,360,971 | |||||||||||
Unsecured loan bears interest rate | 4.35% | 4.35% | ||||||||||
Unsecured loan maturity date description | unsecured and due in one year | |||||||||||
Zhonghuaai Wufu [Member] | RMB [Member] | ||||||||||||
Loans receivable | ¥ | ¥ 30,000,000 | |||||||||||
Private Placement [Member] | ||||||||||||
Number of shares issued , shares | shares | 41,731,867 | 15,471,146 | 47,500,000 | 2,920,000 | 5,000,000 | 1,950,000 | 19,910,000 | 5,750,000 | 41,731,867 | |||
Number of shares issued | $ 6,259,780 | |||||||||||
Stock based compensation | 27,125,714 | |||||||||||
Chief Financial Officer [Member] | ||||||||||||
Management fees | 24,000 | $ 22,500 | ||||||||||
Amount owed to related party | $ 2,566 | $ 3,160 |
Supplemental Disclosures with_3
Supplemental Disclosures with Respect to Cash Flows - Schedule of Supplemental Cash Flow Information (Details) - USD ($) | 3 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Supplemental Cash Flow Elements [Abstract] | ||
Cash paid during the period for interest | ||
Cash paid during the period for income taxes |
Subsequent Event (Details Narra
Subsequent Event (Details Narrative) - shares | 3 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Jun. 30, 2018 | |
Number of common shares cancelled | 13,050,000 | |
Capital Stock [Member] | ||
Number of common shares cancelled | 2,478,639 |
Commitments (Details Narrative)
Commitments (Details Narrative) | Jun. 15, 2018USD ($) | Jun. 15, 2018CNY (¥) | Sep. 30, 2018USD ($) | Sep. 30, 2018CNY (¥) | Sep. 30, 2017USD ($) |
Payments to acquire properties purchased | $ | $ 5,194,830 | $ 3,157 | |||
RMB [Member] | |||||
Payments to acquire properties purchased | ¥ 25,682,000 | ||||
Asset Purchase Agreement [Member] | |||||
Payments to acquire properties purchased | $ | 23,364,403 | ||||
Asset Purchase Agreement [Member] | Due in 18 Months [Member] | |||||
Payments to acquire properties purchased | $ | $ 11,966,217 | ||||
Asset Purchase Agreement [Member] | RMB [Member] | |||||
Properties purchase price, value | 233,000,000 | ||||
Payments to acquire properties purchased | 150,682,000 | ||||
Asset Purchase Agreement [Member] | RMB [Member] | Due in 18 Months [Member] | |||||
Payments to acquire properties purchased | ¥ 82,318,000 | ||||
Conference Consultancy Service Agreement [Member] | |||||
Properties purchase price, value | $ | $ 794,000 | ||||
Agreement term | 2 years | 2 years | |||
Conference Consultancy Service Agreement [Member] | RMB [Member] | |||||
Properties purchase price, value | ¥ 5,250,000 |