Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2021 | Jan. 14, 2022 | Dec. 31, 2020 | |
Cover [Abstract] | |||
Entity Registrant Name | W&E Source Corp. | ||
Entity Central Index Key | 0001368275 | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2021 | ||
Entity Filer Category | Non-accelerated Filer | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Common Stock, Shares Outstanding | 130,085,501 | ||
Entity Current Reporting Status | Yes | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Public Float | $ 72,701 | ||
Entity Small Business | true | ||
Amendment Flag | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Interactive Data Current | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2021 | Jun. 30, 2020 |
Current Assets | ||
Cash | $ 2,248 | $ 3,508 |
Other Receivables | 42 | 38 |
Total current assets | 2,290 | 3,546 |
Non-Current Assets | ||
Prepayments/Deposits | 12,030 | 11,016 |
Total non-current assets | 12,030 | 11,016 |
TOTAL ASSETS | 14,320 | 14,562 |
Current liabilities | ||
Accounts payable and accrued liabilities | 24,561 | 15,351 |
Advanced for share issuance from related party | 0 | 165,446 |
Advances from related parties and related party payables | 12,020 | 32,683 |
Total current liabilities | 36,581 | 213,480 |
TOTAL LIABILITIES | 36,581 | 213,480 |
Shareholders' deficit | ||
Common stock, $0.0001 par value, 500,000,000 shares authorized, 130,085,501 and 82,489,391 shares issued and outstanding as of June 30, 2021 and 2020, respectively | 13,009 | 8,249 |
Additional paid-in capital | 1,217,106 | 1,059,931 |
Accumulated deficit | (1,255,841) | (1,283,018) |
Accumulated other comprehensive income | 3,465 | 15,920 |
Total shareholders' deficit | (22,261) | (198,918) |
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | $ 14,320 | $ 14,562 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2021 | Dec. 14, 2020 | Jun. 30, 2020 | Aug. 05, 2016 | Jan. 31, 2012 |
Statement of Financial Position [Abstract] | |||||
Common Stock, Par Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 | 500,000,000 | ||
Common Stock, Shares, Issued | 130,085,501 | 82,489,391 | |||
Common Stock, Shares, Outstanding | 130,085,501 | 82,489,391 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Statement of Operations [Abstract] | ||
Revenues | $ 0 | $ 784 |
Cost of revenues | 0 | 0 |
Gross profit | 0 | 784 |
Operating expenses | ||
General and administrative expenses | 55,028 | 51,286 |
Total operating expenses | 55,028 | 51,286 |
Operating Loss | (55,028) | (50,502) |
Other income (expense) | ||
Interest expense | (14,386) | 0 |
Gain on debt settlement | 90,433 | 0 |
Foreign currency exchange gain (loss) | 6,158 | (4,657) |
Total other income (expense) | 82,205 | (4,657) |
Net income (loss) | 27,177 | (55,159) |
Other comprehensive income (loss): | ||
Cumulative foreign currency translation adjustment | 12,456 | 6,276 |
Comprehensive income (loss) | $ 39,633 | $ (48,883) |
Weighted average number of shares outstanding - basic and diluted | 108,379,583 | 82,489,391 |
Income (loss) per share - basic and diluted | $ 0 | $ 0 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' (Deficit) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated other Comprehensive Income [Member] | Accumulated Deficit [Member] | Total |
Balance at Jun. 30, 2019 | $ 8,249 | $ 1,059,931 | $ 11,390 | $ (1,227,859) | $ (148,289) |
Balance (Shares) at Jun. 30, 2019 | 82,489,391 | ||||
Foreign currency translation adjustment | 2,841 | 2,841 | |||
Net Loss | (22,399) | (22,399) | |||
Balance at Sep. 30, 2019 | $ 8,249 | 1,059,931 | 14,231 | (1,250,258) | (167,847) |
Balance (Shares) at Sep. 30, 2019 | 82,489,391 | ||||
Balance at Jun. 30, 2019 | $ 8,249 | 1,059,931 | 11,390 | (1,227,859) | (148,289) |
Balance (Shares) at Jun. 30, 2019 | 82,489,391 | ||||
Net Loss | (55,159) | ||||
Balance at Jun. 30, 2020 | $ 8,249 | 1,059,931 | 15,920 | (1,283,018) | (198,918) |
Balance (Shares) at Jun. 30, 2020 | 82,489,391 | ||||
Balance at Sep. 30, 2019 | $ 8,249 | 1,059,931 | 14,231 | (1,250,258) | (167,847) |
Balance (Shares) at Sep. 30, 2019 | 82,489,391 | ||||
Foreign currency translation adjustment | (3,065) | (3,065) | |||
Net Loss | (5,585) | (5,585) | |||
Balance at Dec. 31, 2019 | $ 8,249 | 1,059,931 | 11,166 | (1,255,843) | (176,497) |
Balance (Shares) at Dec. 31, 2019 | 82,489,391 | ||||
Foreign currency translation adjustment | 8,300 | 8,300 | |||
Net Loss | (17,748) | (17,748) | |||
Balance at Mar. 31, 2020 | $ 8,249 | 1,059,931 | 19,466 | (1,273,591) | (185,945) |
Balance (Shares) at Mar. 31, 2020 | 82,489,391 | ||||
Foreign currency translation adjustment | (3,546) | (3,546) | |||
Net Loss | (9,427) | (9,427) | |||
Balance at Jun. 30, 2020 | $ 8,249 | 1,059,931 | 15,920 | (1,283,018) | (198,918) |
Balance (Shares) at Jun. 30, 2020 | 82,489,391 | ||||
Imputed interest | 13,091 | 13,091 | |||
Foreign currency translation adjustment | (3,735) | (3,735) | |||
Net Loss | (26,468) | (26,468) | |||
Balance at Sep. 30, 2020 | $ 8,249 | 1,073,022 | 12,185 | (1,309,486) | (216,030) |
Balance (Shares) at Sep. 30, 2020 | 82,489,391 | ||||
Balance at Jun. 30, 2020 | $ 8,249 | 1,059,931 | 15,920 | (1,283,018) | (198,918) |
Balance (Shares) at Jun. 30, 2020 | 82,489,391 | ||||
Net Loss | 27,177 | ||||
Balance at Jun. 30, 2021 | $ 13,009 | 1,217,045 | 3,465 | (1,255,841) | (22,261) |
Balance (Shares) at Jun. 30, 2021 | 130,085,501 | ||||
Balance at Sep. 30, 2020 | $ 8,249 | 1,073,022 | 12,185 | (1,309,486) | (216,030) |
Balance (Shares) at Sep. 30, 2020 | 82,489,391 | ||||
Imputed interest | 1,235 | 1,235 | |||
Share issuance by debts settlement | $ 4,760 | 142,788 | 147,548 | ||
Share issuance by debts settlement (shares) | 47,596,110 | ||||
Foreign currency translation adjustment | (8,052) | (8,052) | |||
Net Loss | 82,863 | 82,863 | |||
Balance at Dec. 31, 2020 | $ 13,009 | 1,217,045 | 4,133 | (1,226,623) | (7,564) |
Balance (Shares) at Dec. 31, 2020 | 130,085,501 | ||||
Foreign currency translation adjustment | 805 | 805 | |||
Net Loss | (12,173) | (12,173) | |||
Balance at Mar. 31, 2021 | $ 13,009 | 1,217,045 | 4,938 | (1,238,796) | (3,804) |
Balance (Shares) at Mar. 31, 2021 | 130,085,501 | ||||
Imputed interest | 61 | 61 | |||
Foreign currency translation adjustment | (1,473) | (1,473) | |||
Net Loss | (17,045) | (17,045) | |||
Balance at Jun. 30, 2021 | $ 13,009 | $ 1,217,045 | $ 3,465 | $ (1,255,841) | $ (22,261) |
Balance (Shares) at Jun. 30, 2021 | 130,085,501 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash Flow from Operating Activities | ||
Net income (loss) | $ 27,177 | $ (55,159) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Foreign currency exchange gain (loss) | 7,600 | (1,159) |
Gain on debt settlement | (90,433) | 0 |
Imputed interest to related party | 14,386 | 0 |
Change in operating assets and liabilities: | ||
(Increase) decrease in other receivable | 0 | (818) |
Increase (decrease) in accounts payable and accrued liabilities | 8,109 | (3,601) |
Increase (decrease) in related party payable | (537) | 11,278 |
Net cash used in operating activities | (33,698) | (49,459) |
Cash Flows from Financing Activities | ||
Proceeds from related parties | 32,153 | 49,744 |
Net cash provided by financing activities | 32,153 | 49,744 |
Cumulative translation adjustment | 285 | 715 |
Net increase (decrease) in cash for the year | (1,260) | 1,000 |
Beginning of period | 3,508 | 2,508 |
End of period | 2,248 | 3,508 |
Supplemental cash flows information | ||
Interest paid | 0 | 0 |
Income tax paid | 0 | 0 |
Non cash investing and financing activities | ||
Share issuance for the debt settlement | $ 237,981 | $ 0 |
Organization and Nature of Oper
Organization and Nature of Operations | 12 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Nature of Operations [Text Block] | Note 1 - Organization and Nature of Operations W&E Source Corp. ("the Company") was incorporated in the State of Delaware on October 11, 2005 and is based in Montréal, Québec, Canada. The Company is providing air ticket reservations, hotel reservations and other travel related services. On August 25, 2011, the Company incorporated a company called Airchn Travel Global, Inc. (“ATGI”) in the State of Washington, USA. ATGI is a wholly owned subsidiary of the Company. ATGI focuses on a business segment of travel businesses which includes air ticket reservations, hotel reservations and other travel services. On October 4, 2011, the Company incorporated a company called Airchn Travel (Canada) Inc. (“ATCI”) in the Province of British Columbia, Canada. ATCI is a wholly owned subsidiary of ATGI. ATCI has a similar business segment as ATGI. In January 2012, the Company changed its name from News of China, Inc. to W&E Source Corp. and increased its authorized shares to 500,000,000 shares. As a result of the name change, the Company's listing symbol was also changed to WESC. During the quarter ended March 31, 2012, the Company incorporated a company named Airchn Travel (Beijing) Inc. ("ATBI") in Beijing, China. ATBI is also a wholly owned subsidiary of ATGI. ATBI has a similar business segment as ATGI. On December 15, 2012, Airchn Travel (Beijing) Inc., a wholly owned subsidiary of W&E Source Corp. (the "Company"), entered into the Share Purchase Agreement (the "Agreement") with Mr. Wu Hao (the "Seller"), a majority shareholder of Chengdu Baopiao Internet Co., Ltd. (“Baopiao”), to acquire part of his ownership in Baopiao which equals 51% of all issued and outstanding stock of Baopiao (the “Shares”). The Company will pay for the aggregate purchase price of RMB 2,550,000 for the Shares in cash and by assuming the Seller's debt to Baopiao in the amount of RMB1,800,000 (approximately US $289,000) (the "Debt"). According to the terms of the Agreement, the Company will assume the Debt upon execution of the Agreement and pay the Seller the remaining RMB750,000 of the purchase price within 20 days from the execution of the Agreement. Also at execution, the Company will pay Baopiao RMB200,000 as repayment of the Debt and satisfy the remaining Debt of RMB1,600,000 within 20 days from the execution of the Agreement. Also pursuant to the Agreement, the Seller will provide guaranties that other than the information including financial statements provided to the Company, Baopiao does not have any other debts, and no third party has any rights or liens on the assets of Baopiao. The Seller and Baopiao will also indemnify the Company against any damages, liabilities, losses and expenses which the Company may sustain or suffer due to any breach of the guaranties made by the Seller or Baopiao. Baopiao has obtained the necessary shareholder approval for the transfer of the Shares and will register the transfer of the Shares with the applicable State Administration for Industry and Commerce within three days from the date of the Agreement. In connection with the Agreement, the Company also entered into an agreement with the Seller and Baopiao that as an incentive for the management team of Baopiao, the Company will reserve up to 26 million shares of its common stock for issuance to the Baopiao employees upon achievement of certain milestones over the next three years. The Share Purchase Agreement with Mr. Wu Hao was not completed in January, 2013 and both the Company and Mr. Wu Hao agreed to terminate the agreement entered on December 15, 2012. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements [Abstract] | |
Summary of Significant Accounting Policies [Text Block] | a. Basis of presentation. b. Foreign currency translation. RMB to USD CAD to USD Spots rate: 0.1548 0.8020 Average rate: 0.1516 0.7810 c. Principles of consolidation. d. Use of Estimates. e. Loss per share. f. Revenue recognition. g. Cash and cash equivalents. i. Income taxes. j. Recently issued accounting pronouncements. Recently Issued Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. ASU 2016-15 is effective for public business entities for fiscal years beginning after 15 December 2017, and interim periods within those years. For all other entities, it is effective for fiscal years beginning after 15 December 2018, and interim periods within fiscal years beginning after 15 December 2020. Early adoption is permitted. Entities will have to apply the guidance retrospectively, but if it is impracticable to do so for an issue, the amendments related to that issue would be applied prospectively. There would be no impact of the adoption of this guidance on its consolidated financial statements for the year ended as of June 30, 2021. In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases, to clarify on how to apply certain aspects of the new lease accounting standard. The amendments in this update, among other things, better articulates the requirement for a lessee's reassessment of lease classification as of the effective date of a modification, clarifies that a change to an index or rate for variable lease payments does not constitute a resolution of a contingency that would result in the remeasurement of lease payments, and requires entities that apply Topic 842 retrospectively to each reporting period and do not adopt the practical expedients to write off any prior unamortized initial direct costs that do not meet the definition under Topic 842 to equity. The amendments in this update have the same effective date and transition requirements as the new lease standard summarized above. The Company has evaluated the impact of adoption of Topic 842 on the Company's consolidated financial position and results of operations as stated above. There would be no impact of the adoption of this guidance on its consolidated financial statements for the year ended as of June 30, 2021. In December 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-12, "Simplifying the Accounting for Income Taxes". The pronouncement simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740, "Income Taxes". The pronouncement also improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2020-12 will be effective for us beginning in the first quarter of fiscal 2021, with early adoption permitted. There would be no impact of the adoption of this guidance on its consolidated financial statements for the year ended as of June 30, 2021. |
Going Concern
Going Concern | 12 Months Ended |
Jun. 30, 2021 | |
Going Concern [Abstract] | |
Going Concern [Text Block] | Note 3 - Going Concern As reflected in the accompanying consolidated financial statements, the Company had accumulated deficits of $1,255,841and $1,283,018, and net income of $27,177 and net loss of $55,159, respectively, for the fiscal years ended June 30, 2021 and 2020. The Company currently has business activities to generate funds for its own operations, however, has not yet achieved profitable operations. These factors raise substantial doubt about our ability to continue as a going concern. The Company's ability to continue as a going concern is dependent on its ability to raise additional capital and implement its business plan. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management believes that the current actions to obtain additional funding from independent investors or from the management and to implement its strategic plans should allow the Company to continue as a going concern. There are no assurances that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to us. |
Prepayment
Prepayment | 12 Months Ended |
Jun. 30, 2021 | |
Prepayment [Abstract] | |
Prepayment [Text Block] | Note 4 - Prepayment As of June 30, 2021, the Company prepaid a security deposit of $12,030 (CAD$15,000) (June 30, 2020 - $11,016 (CAD$15,000)) to Consumer Protection British Columbia Province for the guarantee of service quality. |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 12 Months Ended |
Jun. 30, 2021 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities [Text Block] | Note 5 - Accounts Payable and Accrued Liabilities Accounts Payable and Accrued Liabilities of $24,561 as of June 30, 2021 consists of payment of $2,450 in legal fees, $20,000 in audit and accounting fees and $2,111 in filing fees. |
Related Parties
Related Parties | 12 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related Parties [Text Block] | Note 6 - Related Parties Mrs. Hong Ba serves as the Chief Executive Officer and Director of the Company. Mr. Feng Li, the husband of Mrs. Hong Ba, is the owner of the Canada Airchn Financial Inc. ("CAFI"). The shareholders make advances to the Company from time to time for the Company's operations. These advances are due on demand and non-interest bearing. As of June 30, 2021, there was $12,020 (June 30, 2020 - $32,683) due to related parties in total. During the year ended June 30, 2021, on December 14, 2020, the CEO of the Company assigned the debt owed to her by the Company to a transferee who entered into a debt cancellation agreement to convert the debt of $10,584 into 2,116,804 common shares of the Company at a price of $0.005 per share. During the year ended June 30, 2021, the CEO of the Company advanced $7,048 (June 30, 2020 - $2,729) to the Company for operating expenditure. For the year ended June 30, 2021, on December 14, 2020, the debt of $33,402 (2020 - $28,201) owed to a company owned by Feng Li, the husband of Mrs. Hong Ba, our CEO was assigned to a transferee who entered into a debt cancellation agreement to convert the debt into 6,680,448 common shares of the Company at a price of $0.005 per share. During the year ended June 30, 2021, a company owned by Feng Li charged the Company $7,498 (Cnd$9,600) (2020 - $7,140) in rent. As of June 30, 2021, the debt of $3,850 (2020 - $27,392) has been due to the related party. During the year ended June 30, 2021, on December 14, 2020, Mr. Li assigned the debt owed to him by the Company to a transferee who entered into a debt cancellation agreement to convert the debt into 310,000 common shares of the Company at a price of $0.005 per share. For the year ended June 30, 2021, Li Feng, the husband of Mrs. Hong Ba, our CEO, advanced $900 (June 30, 2020 - $1,550) to the Company for operating expenditures. As of June 30, 2021, the Company has received advances for future share issuance of $192,444 (June 30, 2020 - $165,446) and an advance of $222 (June 30, 2020 - $203) for operating expenditure from a related party who is an over 10% shareholder of the Company and the Company expensed $14,326 (June 30, 2020 - Nil |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure Abstract | |
Income Taxes [Text Block] | Note 7 - Income Taxes United States of America The Company and its subsidiary are subject to income taxes on an entity basis on income arising in, or derived from, the tax jurisdiction in which they operate and have filed annual tax returns. Canada The Company's subsidiary, Airchn Travel (Canada) Inc. is incorporated in British Columbia in Canada. It is subject to income taxes on income arising in, or derived from, the tax jurisdiction in British Columbia it operates. The basic federal rate of Part I tax is 38% of taxable income, 28% after federal tax abatement. After the general tax reduction, the net federal tax rate is 18% effective January 1, 2010; 16.5% effective January 1, 2011; 15% effective January 1, 2012. The provincial and territorial lower and higher tax rates in British Columbia are 2.5% and 10%, respectively. Other than income tax, Airchn Travel (Canada) Inc. is GST registrants who make taxable services in British Columbia and collect tax at the 5% GST rate on taxable services. People's Republic of China The Company's subsidiary, Airchn Travel (Beijing) Inc. is incorporated in Beijing in China. It is subject to PRC tax laws. Prior to January 1, 2008, PRC enterprise income tax ("EIT") was generally assessed at the rate of 33% of taxable income. In March 2007, a new enterprise income tax law (the "New EIT Law") in the PRC was enacted which was effective on January 1, 2008. The New EIT Law generally applies a uniform 25% EIT rate to both foreign invested enterprises and domestic enterprises. For the reporting periods, the components of loss before income taxes were comprised of the following: For the Year Ended For the Year Ended June 30, 2021 June 30, 2020 United States of America $ 28,735 $ (43,318 ) Canada (5,988 ) (10,438 ) People's Republic of China 4,430 (1,403 ) Loss before income taxes $ 27,177 $ (55,159 ) The components of deferred taxes assets at June 30: 2021 2020 USA net operating income $ (6,034 ) $ 9,097 Canada net operating losses 898 1,406 PRC net operating losses (1,108 ) — Deferred tax assets, net (6,244 ) 10,503 Less: valuation allowance 6,244 (10,503 ) Deferred tax assets, net $ $ — As of June 30, 2021, the Company has an accumulated deficit of $1,255,841 that can be carried forward to offset future net profit for income tax purposes. All tax penalties and interest are expensed as incurred. For the years ended June 30, 2021 and 2020, there were no tax penalties or interest. |
Commitment and Contingencies
Commitment and Contingencies | 12 Months Ended |
Jun. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitment and Contingencies [Text Block] | Note 8 - Commitment and Contingencies The Company leases an office space in Canada for a term under month by month operating lease agreement. Monthly rent is $616 (CAD$800). 2021 CAD $9,600 2022 CAD$9,600 2023 CAD $9,600 2024 CAD $9,600 2025 CAD $9,600 The lease agreement for the Beijing office was terminated effective from October 1, 2013. For each of the year ended June 30, 2021 and 2020, the Company recorded a rent expense of $7,498 (CAD$9,600) and $7,140 (CAD$9,600), respectively. |
Common Stock
Common Stock | 12 Months Ended |
Jun. 30, 2021 | |
Stockholders' Equity Note [Abstract] | |
Common Stock [Text Block] | Note 9 - Common Stock On January 23, 2012, the Company entered into a subscription agreement with the significant shareholder Hong Ba, for the sale of 22,000,000 common shares for $630,000 from cash received and expense paid on behalf by Hong Ba. Subsequent to the sale, Hong Ba owns 22,000,000 common shares which represent 45.9% of the issued and outstanding shares of the Company. The Share Purchase Agreement with Mr. Wu Hao was not completed in January 2013, and both the Company and Mr. Wu Hao agreed to terminate the agreement entered on December 15, 2012. On October 26, 2014, the Company issued 15,538,300 common shares of the Company to settle the debts payable of $155,383 to related parties at $0.01 per share. The Company is authorized to issue 500,000,000 shares of common stock with par value of $0.0001. As of June 30, 2021 and June 30, 2020, 130,085,501 and 82,489,391 shares of common stock were issued and outstanding, respectively. On October 26, 2014, the Company issued 15,538,300 common shares of the Company to settle the debts payable of $155,383 to related parties at $0.01 per share. On August 5, 2016, the Company entered into Debt Conversion Agreements (the "Agreements") with each of Lin Li and Youzhe Li, who were each creditors to the Company with total outstanding balances of $25,920 (the "Lin Li Loan") and $78,861 (the "Youzhe Li Loan" and, together with the Lin Li Loan, the "Loans"), respectively. Pursuant to the Agreements the Company agreed to issue an aggregate total of 19,051,091 shares of its common stock, $0.0001 par value per share (the "Shares"), at the conversion rate of $0.0055 per share as full payment for the Loans. Upon issuance and delivery of the Shares, the Loans were fully paid and the Company no longer had any obligations to the individuals under the Loans. Lin Li is the sister of Mr. Feng Li, who is the husband of Hong Ba, the Company's director, CEO and CFO. On August 5, 2016, the Company issued 14,338,364 common shares of the Company to such a related party in cancellation of the debt of $78,861 owed to such party at such time. On December 14, 2020, the Company entered into Debt Cancellation Agreement (the "Debt Cancellation Agreement") with certain creditors to the Company with a total outstanding aggregate balance of US$237,981 (the "Debts"). Pursuant to the Debt Cancellation Agreement the Company agreed to issue an aggregate total of 47,596,110 shares of its common stock, $0.0001 par value per share (the "Shares"), at the conversion rate of US$0.005 per share as full payment for the Debts. Upon issuance and delivery of the Shares, the Debts were fully paid and the Company no longer had any obligations to the creditors under the Debts. As the filing date of these financial statements, there are 130,085,501 shares issued and outstanding. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation [Policy Text Block] | a. Basis of presentation. |
Foreign currency translation [Policy Text Block] | b. Foreign currency translation. RMB to USD CAD to USD Spots rate: 0.1548 0.8020 Average rate: 0.1516 0.7810 |
Principles of consolidation [Policy Text Block] | c. Principles of consolidation. |
Use of Estimates [Policy Text Block] | d. Use of Estimates. |
Loss per share [Policy Text Block] | e. Loss per share. |
Revenue recognition [Policy Text Block] | f. Revenue recognition. |
Cash and cash equivalents [Policy Text Block] | g. Cash and cash equivalents. |
Income taxes [Policy Text Block] | i. Income taxes. |
Recently issued accounting pronouncements [Policy Text Block] | j. Recently issued accounting pronouncements. Recently Issued Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. ASU 2016-15 is effective for public business entities for fiscal years beginning after 15 December 2017, and interim periods within those years. For all other entities, it is effective for fiscal years beginning after 15 December 2018, and interim periods within fiscal years beginning after 15 December 2020. Early adoption is permitted. Entities will have to apply the guidance retrospectively, but if it is impracticable to do so for an issue, the amendments related to that issue would be applied prospectively. There would be no impact of the adoption of this guidance on its consolidated financial statements for the year ended as of June 30, 2021. In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases, to clarify on how to apply certain aspects of the new lease accounting standard. The amendments in this update, among other things, better articulates the requirement for a lessee's reassessment of lease classification as of the effective date of a modification, clarifies that a change to an index or rate for variable lease payments does not constitute a resolution of a contingency that would result in the remeasurement of lease payments, and requires entities that apply Topic 842 retrospectively to each reporting period and do not adopt the practical expedients to write off any prior unamortized initial direct costs that do not meet the definition under Topic 842 to equity. The amendments in this update have the same effective date and transition requirements as the new lease standard summarized above. The Company has evaluated the impact of adoption of Topic 842 on the Company's consolidated financial position and results of operations as stated above. There would be no impact of the adoption of this guidance on its consolidated financial statements for the year ended as of June 30, 2021. In December 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-12, "Simplifying the Accounting for Income Taxes". The pronouncement simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740, "Income Taxes". The pronouncement also improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2020-12 will be effective for us beginning in the first quarter of fiscal 2021, with early adoption permitted. There would be no impact of the adoption of this guidance on its consolidated financial statements for the year ended as of June 30, 2021. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Schedule of Foreign Exchange Rate [Table Text Block] | RMB to USD CAD to USD Spots rate: 0.1548 0.8020 Average rate: 0.1516 0.7810 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure Abstract | |
Schedule of Components of Loss Before Income Taxes [Table Text Block] | For the Year Ended For the Year Ended June 30, 2021 June 30, 2020 United States of America $ 28,735 $ (43,318 ) Canada (5,988 ) (10,438 ) People's Republic of China 4,430 (1,403 ) Loss before income taxes $ 27,177 $ (55,159 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2021 2020 USA net operating income $ (6,034 ) $ 9,097 Canada net operating losses 898 1,406 PRC net operating losses (1,108 ) — Deferred tax assets, net (6,244 ) 10,503 Less: valuation allowance 6,244 (10,503 ) Deferred tax assets, net $ $ — |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Payments of Operating Lease Liabilities | 2021 CAD $9,600 2022 CAD$9,600 2023 CAD $9,600 2024 CAD $9,600 2025 CAD $9,600 |
Organization and Nature of Op_2
Organization and Nature of Operations (Narrative) (Details) | Dec. 15, 2012CNY (¥) | Dec. 15, 2012USD ($) | Jun. 30, 2021CNY (¥)shares | Jun. 30, 2020shares | Jan. 31, 2012shares |
Organization, Consolidation and Presentation of Financial Statements [Line Items] | |||||
Common Stock, Shares Authorized | shares | 500,000,000 | 500,000,000 | 500,000,000 | ||
Baopiao [Member] | |||||
Organization, Consolidation and Presentation of Financial Statements [Line Items] | |||||
Noncash or Part Noncash Acquisition, Interest Acquired | 51.00% | 51.00% | |||
Noncash or Part Noncash Acquisition, Net Non monetary Assets Acquired (Liabilities Assumed) | ¥ 2,550,000 | ||||
Noncash or Part Noncash Acquisition, Debt Assumed | 1,800,000 | $ 289,000 | |||
Payments to Acquire Interest in Subsidiaries and Affiliates | 750,000 | ||||
Repayments of Debt | ¥ 200,000 | ||||
Other Long-term Debt | ¥ 1,600,000 | ||||
Period For Execution Of Agreement | 20 days | 20 days | |||
Common stock reserved for issuance | shares | 26,000,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Schedule of Foreign Exchange Rate (Details) - Jun. 30, 2021 | $ / $ | ¥ / $ |
Accounting Policies [Abstract] | ||
Spots rate | 0.8020 | 0.1548 |
Average rate | 0.7810 | 0.1516 |
Going Concern (Narrative) (Deta
Going Concern (Narrative) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | |
Going Concern [Abstract] | ||||||||||
Accumulated Deficit | $ (1,255,841) | $ (1,283,018) | $ (1,255,841) | $ (1,283,018) | ||||||
Net income (loss) | $ (17,045) | $ (12,173) | $ 82,863 | $ (26,468) | $ (9,427) | $ (17,748) | $ (5,585) | $ (22,399) | $ 27,177 | $ (55,159) |
Prepayment (Narrative) (Details
Prepayment (Narrative) (Details) | Jun. 30, 2021CAD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020CAD ($) | Jun. 30, 2020USD ($) |
Prepayment [Line Items] | ||||
Prepayments/Deposits | $ 12,030 | $ 11,016 | ||
Consumer Protection British Columbia Province [Member] | ||||
Prepayment [Line Items] | ||||
Prepayments/Deposits | $ 15,000 | $ 12,030 | $ 15,000 | $ 11,016 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Liabilities (Narrative) (Details) - USD ($) | Jun. 30, 2021 | Jun. 30, 2020 |
Payables and Accruals [Abstract] | ||
Accounts payable and accrued liabilities | $ 24,561 | $ 15,351 |
Legal fees payable | 2,450 | |
Audit and accounting fees payable | 20,000 | |
Filing fees payable | $ 2,111 |
Related Parties (Narrative) (De
Related Parties (Narrative) (Details) | Dec. 14, 2020USD ($)$ / sharesshares | Aug. 05, 2016shares | Oct. 26, 2014USD ($)shares | Jun. 30, 2021CAD ($)shares | Jun. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2020USD ($) |
Related Party Transaction [Line Items] | ||||||
Total due to related parties | $ 12,020 | $ 32,683 | ||||
Amount of common shares issued to settle debts payable | $ 237,981 | $ 155,383 | ||||
Number of shares issued to settle debts payable | shares | 47,596,110 | 19,051,091 | 15,538,300 | |||
Proceeds from advances from related parties | 32,153 | 49,744 | ||||
Interest expenses | 14,326 | |||||
CEO [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Amount of common shares issued to settle debts payable | $ 10,584 | |||||
Number of shares issued to settle debts payable | shares | 2,116,804 | |||||
Conversion price of debt instrument | $ / shares | $ 0.005 | |||||
Proceeds from advances from related parties | 7,048 | 2,729 | ||||
A company owned by Feng Li [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Amount of common shares issued to settle debts payable | $ 33,402 | 28,201 | ||||
Number of shares issued to settle debts payable | shares | 6,680,448 | 6,680,448 | ||||
Conversion price of debt instrument | $ / shares | $ 0.005 | |||||
Related party transaction, amount of transaction | $ 9,600 | $ 7,498 | 7,140 | |||
Due to other related parties, current | 3,850 | 27,392 | ||||
Feng Li [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Number of shares issued to settle debts payable | shares | 310,000 | |||||
Conversion price of debt instrument | $ / shares | $ 0.005 | |||||
Proceeds from advances from related parties | 900 | 1,550 | ||||
A related party who will be an over 10% shareholder of the Company [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Number of shares issued to settle debts payable | shares | 38,488,858 | |||||
Conversion price of debt instrument | $ / shares | $ 0.005 | |||||
Advances received for future issuance of shares | 192,444 | 165,446 | ||||
Advances received for operating expenditure | $ 222 | $ 203 | ||||
Percentage of stock ownership | 10.00% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2012 | Jan. 31, 2011 | Jan. 31, 2010 | Jun. 30, 2021 | |
Income Tax [Line Items] | ||||
Operating Loss Carryforwards | $ 1,255,841 | |||
Canada [Member] | ||||
Income Tax [Line Items] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 15.00% | 16.50% | 18.00% | 38.00% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate After Abatement, Percent | 28.00% | |||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 5.00% | |||
Canada [Member] | Minimum [Member] | ||||
Income Tax [Line Items] | ||||
Sales tax rate, percent | 2.50% | |||
Canada [Member] | Maximum [Member] | ||||
Income Tax [Line Items] | ||||
Sales tax rate, percent | 10.00% | |||
Peoples Republic Of China [Member] | ||||
Income Tax [Line Items] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 33.00% | |||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 25.00% |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Loss Before Income Taxes (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Income Tax [Line Items] | ||
Loss before income taxes | $ 27,177 | $ (55,159) |
United States of America [Member] | ||
Income Tax [Line Items] | ||
Loss before income taxes | 28,735 | (43,318) |
Canada [Member] | ||
Income Tax [Line Items] | ||
Loss before income taxes | (5,988) | (10,438) |
Peoples Republic Of China [Member] | ||
Income Tax [Line Items] | ||
Loss before income taxes | $ 4,430 | $ (1,403) |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Jun. 30, 2021 | Jun. 30, 2020 |
Income Tax [Line Items] | ||
Total deferred tax assets | $ (6,244) | $ 10,503 |
Less: valuation allowance | 6,244 | (10,503) |
Deferred tax assets, net | 0 | |
United States of America [Member] | ||
Income Tax [Line Items] | ||
Net operating losses | (6,034) | 9,097 |
Canada [Member] | ||
Income Tax [Line Items] | ||
Net operating losses | 898 | 1,406 |
Peoples Republic Of China [Member] | ||
Income Tax [Line Items] | ||
Net operating losses | $ (1,108) | $ 0 |
Commitment and Contingencies (N
Commitment and Contingencies (Narrative) (Details) | 12 Months Ended | ||||
Jun. 30, 2021CAD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020CAD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2021USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |||||
Monthly rent payment | $ 800 | $ 616 | |||
Rent expense | $ 9,600 | $ 7,498 | $ 9,600 | $ 7,140 |
Commitment and Contingencies -
Commitment and Contingencies - Schedule of Future Minimum Rental Payments for Operating Leases (Details) | Jun. 30, 2021CAD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2021 | $ 9,600 |
2022 | 9,600 |
2023 | 9,600 |
2024 | 9,600 |
2025 | $ 9,600 |
Common Stock (Narrative) (Detai
Common Stock (Narrative) (Details) | Dec. 14, 2020USD ($)$ / sharesshares | Aug. 05, 2016USD ($)$ / sharesshares | Oct. 26, 2014USD ($)shares | Jan. 23, 2012USD ($)shares | Jun. 30, 2021$ / sharesshares | Jun. 30, 2020$ / sharesshares | Jan. 31, 2012shares |
Class of Stock [Line Items] | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 47,596,110 | 19,051,091 | 15,538,300 | ||||
Debt Conversion, Converted Instrument, Amount | $ | $ 237,981 | $ 155,383 | |||||
Debt Instrument, Convertible, Conversion Ratio | 0.005 | 0.0055 | 0.01 | ||||
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 | 500,000,000 | ||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||
Common Stock, Shares, Issued | 130,085,501 | 82,489,391 | |||||
Common Stock, Shares, Outstanding | 130,085,501 | 82,489,391 | |||||
Stock issued during period, cancellation of advance | 14,338,364 | ||||||
Stock issued during period, value, cancellation of advance | $ | $ 78,861 | ||||||
Hong Ba [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 22,000,000 | ||||||
Stock Issued During Period, Value, New Issues | $ | $ 630,000 | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 45.90% | ||||||
Lin Li [Member] | |||||||
Class of Stock [Line Items] | |||||||
Debt Conversion, Converted Instrument, Amount | $ | 25,920 | ||||||
Youzhe Li [Member] | |||||||
Class of Stock [Line Items] | |||||||
Debt Conversion, Converted Instrument, Amount | $ | $ 78,861 |