Qornerstone (TECM) 10-Q 15 May 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2019	May 10, 2019
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Entity Registrant Name	Qornerstone Inc.
Entity Central Index Key	0001415605
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		30,490,095
Entity Current Reporting Status	Yes
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Small Business	true
Entity Emerging Growth Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Current Assets
Cash	$ 95,188	$ 128,868
Accounts receivable, net of allowance for doubtful accounts of $37,638 and $25,714, respectively	139,363	121,742
Deferred contract costs	0	188,322
Prepaid expenses and deposits	96,001	91,744
Total Current Assets	330,552	530,676
Property and equipment	12,737	15,028
Total Assets	343,289	545,704
Current Liabilities
Accounts payable and accrued liabilities	173,223	108,726
Deferred revenue	123,851	421,178
Due to related parties	692,657	235,678
Total Current Liabilities	989,731	765,582
Notes payable	0	1,406,522
Total Liabilities	989,731	2,172,104
STOCKHOLDERS' DEFICIT
Common stock, 220,000,000 shares authorized, $0.001 par value; 30,490,095 and 18,998,211 shares issued and outstanding, respectively	30,490	18,998
Share subscriptions received	520,000	0
Additional paid-in capital	1,798,471	170,694
Accumulated other comprehensive income	78,272	39,810
Deficit	(3,073,675)	(1,855,902)
Total Stockholders' Deficit	(646,442)	(1,626,400)
Total Liabilities and Stockholders' Deficit	$ 343,289	$ 545,704

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Allowance for doubtful accounts	$ 37,638	$ 25,714
Common Stock, Shares Authorized	220,000,000	220,000,000
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	30,490,095	18,998,211
Common Stock, Shares, Outstanding	30,490,095	18,998,211

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Revenue	$ 361,916	$ 251,664	$ 1,475,005	$ 671,127
Cost of sales	52,984	27,540	533,161	139,873
Gross Profit	308,932	224,124	941,844	531,254
Expenses
Advertising fees	15,644	0	15,644	0
Consulting fees	342,211	0	504,846	0
Depreciation	3,263	3,607	8,871	9,455
Directors' fees	67,724	68,354	199,258	201,255
General and administrative	70,329	45,000	114,317	185,421
Professional fees	65,456	25,770	125,488	75,083
Research and development	23,691	0	77,355	0
Rent	15,890	16,036	46,750	47,217
Salaries and benefits	300,916	265,348	781,961	715,075
Total Expenses	905,124	424,115	1,874,490	1,233,506
Loss from Operations	(596,192)	(199,991)	(932,646)	(702,252)
Other Income
Other income	0	4,917	0	21,972
Loss before Income Taxes	(596,192)	(195,074)	(932,646)	(680,280)
Income tax recovery (expense)	2,676	(18)	2,676	(1,913)
Net Loss	(593,516)	(195,092)	(929,970)	(682,193)
Comprehensive Income
Foreign currency translation gain	19,923	12,510	38,462	9,675
Comprehensive Loss	$ (573,593)	$ (182,582)	$ (891,508)	$ (672,518)
Loss Per Share, Basic and Diluted	$ (0.02)	$ (0.01)	$ (0.04)	$ (0.04)
Weighted Average Number of Shares Outstanding, Basic and Diluted	30,490,095	18,998,211	22,898,741	18,998,211

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders Deficit - USD ($)	Common Stock [Member]	Share Subscriptions Received [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income [Member]	Deficit [Member]	Total
Beginning Balance at Jun. 30, 2017	$ 189,692			$ 14,117	$ (124,232)	$ 79,577
Beginning Balance (Shares) at Jun. 30, 2017	18,998,211
Shares issued pursuant to conversion of debt						0
Foreign currency translation gain				9,675		9,675
Net loss for the period					(682,193)	(682,193)
Ending Balance at Mar. 31, 2018	$ 189,692			23,792	(806,425)	(592,941)
Ending Balance (Shares) at Mar. 31, 2018	18,998,211
Beginning Balance at Dec. 31, 2017	$ 189,692			11,282	(611,333)	(410,359)
Beginning Balance (Shares) at Dec. 31, 2017	18,998,211
Foreign currency translation gain				12,510		12,510
Net loss for the period					(195,092)	(195,092)
Ending Balance at Mar. 31, 2018	$ 189,692			23,792	(806,425)	(592,941)
Ending Balance (Shares) at Mar. 31, 2018	18,998,211
Beginning Balance at Jun. 30, 2018	$ 18,998		$ 170,694	39,810	(1,855,902)	(1,626,400)
Beginning Balance (Shares) at Jun. 30, 2018	18,998,211
Shares of TechMedia Advertising, Inc.	$ 9,671		(9,671)
Shares of TechMedia Advertising, Inc. (Shares)	9,670,474
Net liabilities assumed					(287,803)	(287,803)
Shares issued pursuant to conversion of debt	$ 1,821		1,637,448			1,639,269
Shares issued pursuant to conversion of debt (Shares)	1,821,410
Share subscriptions received		$ 520,000				520,000
Foreign currency translation gain				38,462		38,462
Net loss for the period					(929,970)	(929,970)
Ending Balance at Mar. 31, 2019	$ 30,490	520,000	1,798,471	78,272	(3,073,675)	(646,442)
Ending Balance (Shares) at Mar. 31, 2019	30,490,095
Beginning Balance at Dec. 31, 2018	$ 30,490		1,798,471	58,349	(2,480,159)	(592,849)
Beginning Balance (Shares) at Dec. 31, 2018	30,490,095
Share subscriptions received		520,000				520,000
Foreign currency translation gain				19,923		19,923
Net loss for the period					(593,516)	(593,516)
Ending Balance at Mar. 31, 2019	$ 30,490	$ 520,000	$ 1,798,471	$ 78,272	$ (3,073,675)	$ (646,442)
Ending Balance (Shares) at Mar. 31, 2019	30,490,095

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($)	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Activities
Net loss for the period	$ (929,970)	$ (682,193)
Adjustments to reconcile net loss to net cash used in operating activities:
Bad debts	1,811	0
Depreciation	8,871	9,455
Unrealized foreign exchange loss	0	1,263
Changes in operating assets and liabilities:
Accounts receivable	(19,432)	49,098
Deferred contract costs	188,322	(59,556)
Prepaid expenses and deposits	(4,257)	(647,734)
Accounts payable and accrued liabilities	(24,248)	34,353
Deferred revenue	(297,327)	13,913
Due to related parties	26,612	0
Net Cash Used in Operating Activities	(1,049,618)	(1,281,401)
Investing Activities
Acquisition of subsidiary, net of cash acquired	0	10,179
Purchase of property and equipment	(6,290)	(6,208)
Net Cash Provided by (Used in) Investing Activities	(6,290)	3,971
Financing Activities
Proceeds from shareholders' loans	0	603,103
Proceeds from notes payable	232,747	0
Proceeds from related parties	231,309	176,276
Shares subscriptions received	520,000	0
Net Cash Provided by Financing Activities	984,056	779,379
Effects of Foreign Exchange Rate Changes on Cash	38,172	(6,334)
Decrease in Cash	(33,680)	(504,385)
Cash, Beginning of Period	128,868	585,840
Cash, End of Period	95,188	81,455
Non-cash Investing and Financing Activities:
Accounts payable assumed on reverse merger	88,745	0
Due to related parties assumed on reverse merger	199,058	0
Common stock issued for conversion of debt	1,639,269	0
Supplemental Disclosures:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

Nature of Operations and Going

Nature of Operations and Going Concern	9 Months Ended
	Mar. 31, 2019
Nature of Operations and Going Concern [Text Block]	1. Nature of Operations and Going Concern Qornerstone Inc. (the "Company") was incorporated in the State of Nevada on January 30, 2007 under the name Ultra Care, Inc. On February 17, 2009, the Company merged with its wholly owned subsidiary, TechMedia Advertising, Inc., in order to effect a name change from Ultra Care, Inc. to TechMedia Advertising, Inc. On March 15, 2019, the Company changed its name to Qornerstone Inc. The Company is in the business of being a solution provider of cloud-enabled real estate and facility management, financial management, security and enterprise turn-key systems/solutions for government-to-government, business-to-business and business-to-consumer. On December 28, 2018, the Company completed its reverse merger with IBASE Technology Private Limited (“IBASE”) in accordance with the terms of a Share Exchange Agreement dated as of December 16, 2016, as extended on March 31, 2017, and amended on March 31, 2018. See Note 3 for additional information regarding the merger. These condensed consolidated financial statements have been prepared on a going concern basis, which assumes that the Company will continue to realize its assets and discharge its obligations and commitments in the normal course of operations. Realization values may be substantially different from carrying values as shown and these consolidated financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. As of March 31, 2019, the Company has a working capital deficit of $659,179, has incurred cumulative losses of $3,073,675, and expects to incur further losses in the development of its business. Management has taken several actions to ensure that the Company will continue as a going concern. The Company has obtained additional financing through the issuance of equity and advances from related parties. In addition, the Company has implemented cost savings measures to improve operational efficiency. Management believes that these actions will enable the Company to continue as a going concern for the next twelve months from the date issuance of these condensed consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Mar. 31, 2019
Significant Accounting Policies [Text Block]	2. Significant Accounting Policies (a) Principles of Consolidation and Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and in conformity with the instructions on Form 10-Q and Rule 8-03 of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission (“SEC”).Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for the interim periods are not necessarily indicative of the operating results to be attained in the entire fiscal year. These condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, IBASE Technology Private Limited (“IBASE”), They also include the accounts of IBASE’s wholly-owned subsidiary,IBASE Technology International Pte. Ltd. (“IBASE International”).All significant inter-company transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements and notes should be read in conjunction with the audited financial statements and accompanying notes for the year ended June 30, 2018 included in the Current Report, as amended, on Form 10-12GA filed on November 9, 2018. There have been no significant and material changes in our critical accounting policies and significant judgments and estimates during the three and nine months ended March 31, 2019. (b) Use of Estimates The preparation of these condensed consolidated financial statements in conformity with U.S.GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to allowance for doubtful accounts, the estimated useful lives and recoverability of property and equipment, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of acquisition to be cash equivalents. (d) Accounts Receivable The Company recognizes allowances for doubtful accounts to ensure accounts receivable are not overstated due to the inability or unwillingness of its customers to make required payments. The allowance is based on the business environment, historical bad debt expense, the age of receivables, and the specific identification of receivables the Company considers at risk. The Company reviews the adequacy of its allowance for doubtful accounts on a regular basis. (e) Property and Equipment Property and equipment consist of computer equipment, furniture and fixtures, leasehold improvements, and office equipmentand are measured at cost less accumulated depreciation and impairment losses. Property and equipment are depreciated on a straight-line basis over their expected useful life as follows: Computer equipment 3 years Furniture and fixtures 5 years Office equipment 5 years (f) Impairment of Long-lived Assets In accordance with ASC 360, “ Property, Plant, and Equipment (g) Government Grants Grants from the government are recognized as a receivable at fair value when there is reasonable assurance that the grant will be received and the Company will comply with all the attached conditions. Government grants relating to assets are deducted against the carrying amount of the assets. (h) Leases A lease that transfers substantially all of the benefits and risks of ownership is classified as a capital lease. At the inception of a capital lease, an asset and a payment obligation are recorded at an amount equal to the lesser of the present value of the minimum lease payments and the property’s fair market value. Assets classified as capital leases are amortized using the declining balance method, over their estimated useful lives. All other leases are accounted for as operating leases and rental payments are expensed as incurred. (i) Financial Instruments and Fair Value Measures ASC 820, “ Fair Value Measurements and Disclosures Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist principally of cash, accounts receivable, and accounts payable and accrued liabilities, and amounts due to related parties. Pursuant to ASC 820, the fair values of cash are determined based on “Level 1” inputs. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. The Company operates in Singapore and its cash is held in Singapore dollars, and there is no significant exposure to foreign currency fluctuations. (j) Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “ Income Taxes (k) Foreign Currency Translation The Company’s functional and reporting currency is the U.S. dollar. The functional currency of IBASE and IBASE International is the Singapore dollar. Management has adopted ASC 830, “ Foreign Currency Matters The Company uses the current rate method to translate the financial statements of IBASE and IBASE International to its reporting currency. Accordingly, assets and liabilities are translated into U.S. dollars at the period end exchange rate while revenue and expenses are translated at the average exchange rates during the period. Related exchange gains and losses are included in a separate component of stockholders’ equity as accumulated other comprehensive income. (l) Revenue Recognition The Company derives revenue from the sale of software, product support and maintenance services, and other consulting services. Revenue is recognized when control of products or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those promised products or services. The Company determines revenue recognition through the following five steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, performance obligations are satisfied The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company enters into contracts that can include various combinations of licenses, products and services, some of which are distinct and are accounted for as separate performance obligations. For contracts with multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation, generally on a relative basis using its standalone selling price. Management assesses the business environment, customers’ financial condition, historical collection experience, accounts receivable aging, and customer disputes to determine whether collectability is reasonably assured. If collectability is not considered reasonably assured at the time of sale, the Company does not recognize revenue until collection occurs. Deferred revenue consists primarily of payments received in advance of revenue recognition for subscriptions and professional services and is recognized as the revenue recognition criteria is met. (m) Employee Benefits The Company make contributions to the Central Provident Fund Scheme in Singapore which is a defined contribution pension scheme. These contributions are recognized as compensation expense in the period in which the related service is performed. Employee entitlements to annual leave are recognized as a liability when they accrue to employees. The estimated liability for leave is recognized for services rendered by employees up to the balance sheet date. (n) Earnings Per Share The Company computes earnings per share in accordance with ASC 260, “ Earnings per Share (o) Comprehensive Income ASC 220, “ Comprehensive Income (p) Reclassifications Certain of the prior period figures have been reclassified to conform to the current period`s presentation. (q) Recent Accounting Pronouncements On July 1, 2018, the Company adopted ASC Topic 606, “Revenue from Contracts with Customers” (“Topic 606”), using the modified retrospective transition method applied to those contracts which were not completed as of July 1, 2018. Under this method, the Company evaluated contracts that were in effect at the beginning of fiscal 2019 as if those contracts had been accounted for under Topic 606 from the beginning of their terms. The adoption of Topic 606 did not result in a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issuedASU 2016-02, “Leases” (“Topic 842”). The new standard requires lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use assets and eliminates certain real estate specific provisions. ASU 2016-02 will be effective for fiscal years beginning after December 15, 2018. The Company is still in the process of determining the effect of the adoption of this standard on its consolidated financial statements or the related disclosures. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles - Goodwill and Other” (“Topic 350”). This standard eliminates step 2 from the annual goodwill impairment test. This update is effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted, and is to be applied on a prospective basis. The Company does not anticipate that the adoption of this standard will have a significant impact on its consolidated financial statements or the related disclosures. In February 2018, the FASB issued ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income” (“Topic 220”): Reclassification of Certain Tax Effect from Accumulated Other Comprehensive Income. This update allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Job Act ("TCJA") enacted in December 2017. This update will be effective for the Company for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate that the adoption of this standard will have a significant impact on its consolidated financial statements or the related disclosures. In March 2018, the FASB issued ASUNo. 2018-05, ”Income Taxes” (“Topic 740”): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118. The staff of the SEC recognized the complexity of reflecting the impacts of the TCJA, and on December 22, 2017, issued guidance in Staff Accounting Bulletin 118, which clarifies accounting for income taxes under ASC 740 if information is not yet available or complete and provides for up to a one year period in which to complete the required analysis and accounting (the measurement period).The Company does not anticipate that the adoption of this standard will have a significant impact on its consolidated financial statements or the related disclosures. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the U.S. Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

Acquisition of IBASE Technology

Acquisition of IBASE Technology Private Limited	9 Months Ended
	Mar. 31, 2019
Acquisition of IBASE Technology Private Limited [Text Block]	3. Acquisition of IBASE Technology Private Limited On December 16, 2016, the Company entered into a binding and definitive share exchange agreement (the “Share Exchange Agreement”) with IBASE, a company organized under the laws of Singapore, and all of the shareholders of IBASE, whereby the Company is to acquire 100% of the issued and outstanding shares in the capital of IBASE in exchange for the issuance of an aggregate of 18,998,211 post-reverse stock split shares of common stock to the shareholders of IBASE on a pro rata basis in accordance with each IBASE shareholders’ percentage of ownership in IBASE. Effectively upon closing, IBASE shareholders will hold approximately 66% of the Company’s post-closing outstanding shares, not including any shares issued upon the conversion of convertible notes in IBASE as discussed below. On March 31, 2017, the Company entered into an extension agreement (the “Extension Agreement”) to the Share Exchange Agreement with IBASE and all of the shareholders of IBASE, whereby the parties agreed to extend the Closing Date (as defined in the Share Exchange Agreement) to March 31, 2018 and the Latest Closing Date (also as defined in the Share Exchange Agreement) to April 30, 2018. On March 31, 2018, the Company entered into an amended share exchange agreement (the “Amended Share Exchange Agreement”) with IBASE and all of the shareholders of IBASE, whereby the parties agreed to further amend the Closing Date to be on or before December 15, 2018 and the Latest Closing Date to be December 31, 2018, subject to any extensions of 15 days per extension as mutually agreed to by the parties, as well as to reflect the convertible note financing (the “Convertible Notes”) of IBASE of up to $3,500,000, which upon closing of the Amended Share Exchange Agreement the Convertible Notes will automatically convert into shares of the Company’s common stock at a price of $0.90 per share (up to a maximum of 3,888,889 shares of common stock). Refer to Note 6. The closing of the Amended Share Exchange Agreement occurred on December 28, 2018. Pursuant to the terms of the Amended Share Exchange Agreement, the Company acquired all of the issued and outstanding shares of capital stock of IBASE from the shareholders of IBASE in exchange for the issuance of 18,998,211 shares of the Company’s common stock to the shareholders of IBASE on a pro rata basis in accordance with each IBASE shareholders’ percentage ownership in IBASE. The acquisition was a capital transaction in substance and therefore has been accounted for as a recapitalization, which is outside the scope ASC 805, “Business Combinations”. Under recapitalization accounting, IBASE is considered the acquirer for accounting and financial reporting purposes, and acquired the assets and assumed the liabilities of the Company. These consolidated financial statements include the accounts of the Company since the effective date of the recapitalization and the historical accounts of the business of IBASE since inception. The liabilities assumed from the Company are as follows: $ Accounts payable (88,745 ) Due to related parties (199,058 ) Net liabilities assumed (287,803 )

Property and Equipment

Property and Equipment	9 Months Ended
	Mar. 31, 2019
Property and Equipment [Text Block]	4. Property and Equipment Net Book Net Book Value Value Accumulated March 31, June 30, Cost Depreciation 2019 2018 $ $ $ $ Computer equipment 238,408 226,807 11,601 13,432 Furniture and fixtures 25,619 24,724 895 1,080 Office equipment 31,471 31,230 241 516 295,498 282,761 12,737 15,028

Related Party Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2019
Related Party Transactions [Text Block]	5. Related Party Transactions (a) As at March 31, 2019, the Company owed a total of $692,657 (June 30, 2018 - $235,678) to shareholders of the Company, which is unsecured, non-interest bearing, and due on demand. (b) During the ninemonths ended March 31, 2019, the Company incurred directors' fees of $199,258 (2018 - $201,255) to directors of the Company.

Notes Payable

Notes Payable	9 Months Ended
	Mar. 31, 2019
Notes Payable [Text Block]	6. Notes Payable On March 31, 2018, the Company entered into an amended share exchange agreement (the “Amended Share Exchange Agreement”) with IBASE and all of the shareholders of IBASE, to further amend the closing date as well as to reflect the convertible note financing (the “Convertible Notes”) of IBASE of up to $3,500,000, which upon closing of the Amended Share Exchange Agreement the Convertible Notes would automatically convert into shares of the Company’s common stock at a price of $0.90 per share (up to a maximum of 3,888,889 shares of common stock).These notes were non-interest bearing with a maturity date of three years from the date of their respective date of issuance unless automatically converted sooner. As of June 30, 2018, IBASE had convertible notes totaling $1,406,522. IBASE issued additional Convertible Notes totaling $232,747 subsequently. The Convertible Notes automatically converted into common stock of the Company at a price of $0.90 per share upon the closing of the Amended Share Exchange Agreement. Refer to Note 7.

Common Stock

Common Stock	9 Months Ended
	Mar. 31, 2019
Common Stock [Text Block]	7. Common Stock (a) On December 28, 2018, the Company issued 18,998,211 shares of common stock pursuant to the Amended Share Exchange Agreement. Refer to Note 3. (b) On December 28, 2018, the Company issued 1,821,410 shares of common stock for the conversion of $1,639,269 in convertible notes. Refer to Note 6. (c) As at March 31, 2019, the Company had share subscriptions received of $520,000. The Company is to issue 577,778 shares of common stock at $0.90 per share.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2019
Principles of Consolidation and Basis of Presentation [Policy Text Block]	(a) Principles of Consolidation and Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and in conformity with the instructions on Form 10-Q and Rule 8-03 of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission (“SEC”).Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for the interim periods are not necessarily indicative of the operating results to be attained in the entire fiscal year. These condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, IBASE Technology Private Limited (“IBASE”), They also include the accounts of IBASE’s wholly-owned subsidiary,IBASE Technology International Pte. Ltd. (“IBASE International”).All significant inter-company transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements and notes should be read in conjunction with the audited financial statements and accompanying notes for the year ended June 30, 2018 included in the Current Report, as amended, on Form 10-12GA filed on November 9, 2018. There have been no significant and material changes in our critical accounting policies and significant judgments and estimates during the three and nine months ended March 31, 2019.
Use of Estimates [Policy Text Block]	(b) Use of Estimates The preparation of these condensed consolidated financial statements in conformity with U.S.GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to allowance for doubtful accounts, the estimated useful lives and recoverability of property and equipment, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Cash and Cash Equivalents [Policy Text Block]	(c) Cash and Cash Equivalents The Company considers all highly liquid instruments with a maturity of three months or less at the time of acquisition to be cash equivalents.
Accounts Receivable [Policy Text Block]	(d) Accounts Receivable The Company recognizes allowances for doubtful accounts to ensure accounts receivable are not overstated due to the inability or unwillingness of its customers to make required payments. The allowance is based on the business environment, historical bad debt expense, the age of receivables, and the specific identification of receivables the Company considers at risk. The Company reviews the adequacy of its allowance for doubtful accounts on a regular basis.
Property and Equipment [Policy Text Block]	(e) Property and Equipment Property and equipment consist of computer equipment, furniture and fixtures, leasehold improvements, and office equipmentand are measured at cost less accumulated depreciation and impairment losses. Property and equipment are depreciated on a straight-line basis over their expected useful life as follows: Computer equipment 3 years Furniture and fixtures 5 years Office equipment 5 years
Impairment of Long-lived Assets [Policy Text Block]	(f) Impairment of Long-lived Assets In accordance with ASC 360, “ Property, Plant, and Equipment
Government Grants [Policy Text Block]	(g) Government Grants Grants from the government are recognized as a receivable at fair value when there is reasonable assurance that the grant will be received and the Company will comply with all the attached conditions. Government grants relating to assets are deducted against the carrying amount of the assets.
Leases [Policy Text Block]	(h) Leases A lease that transfers substantially all of the benefits and risks of ownership is classified as a capital lease. At the inception of a capital lease, an asset and a payment obligation are recorded at an amount equal to the lesser of the present value of the minimum lease payments and the property’s fair market value. Assets classified as capital leases are amortized using the declining balance method, over their estimated useful lives. All other leases are accounted for as operating leases and rental payments are expensed as incurred.
Financial Instruments and Fair Value Measures [Policy Text Block]	(i) Financial Instruments and Fair Value Measures ASC 820, “ Fair Value Measurements and Disclosures Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company’s financial instruments consist principally of cash, accounts receivable, and accounts payable and accrued liabilities, and amounts due to related parties. Pursuant to ASC 820, the fair values of cash are determined based on “Level 1” inputs. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. The Company operates in Singapore and its cash is held in Singapore dollars, and there is no significant exposure to foreign currency fluctuations.
Income Taxes [Policy Text Block]	(j) Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “ Income Taxes
Foreign Currency Translation [Policy Text Block]	(k) Foreign Currency Translation The Company’s functional and reporting currency is the U.S. dollar. The functional currency of IBASE and IBASE International is the Singapore dollar. Management has adopted ASC 830, “ Foreign Currency Matters The Company uses the current rate method to translate the financial statements of IBASE and IBASE International to its reporting currency. Accordingly, assets and liabilities are translated into U.S. dollars at the period end exchange rate while revenue and expenses are translated at the average exchange rates during the period. Related exchange gains and losses are included in a separate component of stockholders’ equity as accumulated other comprehensive income.
Revenue Recognition [Policy Text Block]	(l) Revenue Recognition The Company derives revenue from the sale of software, product support and maintenance services, and other consulting services. Revenue is recognized when control of products or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those promised products or services. The Company determines revenue recognition through the following five steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, performance obligations are satisfied The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company enters into contracts that can include various combinations of licenses, products and services, some of which are distinct and are accounted for as separate performance obligations. For contracts with multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation, generally on a relative basis using its standalone selling price. Management assesses the business environment, customers’ financial condition, historical collection experience, accounts receivable aging, and customer disputes to determine whether collectability is reasonably assured. If collectability is not considered reasonably assured at the time of sale, the Company does not recognize revenue until collection occurs. Deferred revenue consists primarily of payments received in advance of revenue recognition for subscriptions and professional services and is recognized as the revenue recognition criteria is met.
Employee Benefits [Policy Text Block]	(m) Employee Benefits The Company make contributions to the Central Provident Fund Scheme in Singapore which is a defined contribution pension scheme. These contributions are recognized as compensation expense in the period in which the related service is performed. Employee entitlements to annual leave are recognized as a liability when they accrue to employees. The estimated liability for leave is recognized for services rendered by employees up to the balance sheet date.
Earnings Per Share [Policy Text Block]	(n) Earnings Per Share The Company computes earnings per share in accordance with ASC 260, “ Earnings per Share
Comprehensive Income [Policy Text Block]	(o) Comprehensive Income ASC 220, “ Comprehensive Income
Reclassifications [Policy Text Block]	(p) Reclassifications Certain of the prior period figures have been reclassified to conform to the current period`s presentation.
Recent Accounting Pronouncements [Policy Text Block]	(q) Recent Accounting Pronouncements On July 1, 2018, the Company adopted ASC Topic 606, “Revenue from Contracts with Customers” (“Topic 606”), using the modified retrospective transition method applied to those contracts which were not completed as of July 1, 2018. Under this method, the Company evaluated contracts that were in effect at the beginning of fiscal 2019 as if those contracts had been accounted for under Topic 606 from the beginning of their terms. The adoption of Topic 606 did not result in a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issuedASU 2016-02, “Leases” (“Topic 842”). The new standard requires lessees to recognize most leases on their balance sheets as lease liabilities with corresponding right-of-use assets and eliminates certain real estate specific provisions. ASU 2016-02 will be effective for fiscal years beginning after December 15, 2018. The Company is still in the process of determining the effect of the adoption of this standard on its consolidated financial statements or the related disclosures. In January 2017, the FASB issued ASU No. 2017-04, “Intangibles - Goodwill and Other” (“Topic 350”). This standard eliminates step 2 from the annual goodwill impairment test. This update is effective for annual periods beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted, and is to be applied on a prospective basis. The Company does not anticipate that the adoption of this standard will have a significant impact on its consolidated financial statements or the related disclosures. In February 2018, the FASB issued ASU No. 2018-02, “Income Statement - Reporting Comprehensive Income” (“Topic 220”): Reclassification of Certain Tax Effect from Accumulated Other Comprehensive Income. This update allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Job Act ("TCJA") enacted in December 2017. This update will be effective for the Company for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The Company does not anticipate that the adoption of this standard will have a significant impact on its consolidated financial statements or the related disclosures. In March 2018, the FASB issued ASUNo. 2018-05, ”Income Taxes” (“Topic 740”): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118. The staff of the SEC recognized the complexity of reflecting the impacts of the TCJA, and on December 22, 2017, issued guidance in Staff Accounting Bulletin 118, which clarifies accounting for income taxes under ASC 740 if information is not yet available or complete and provides for up to a one year period in which to complete the required analysis and accounting (the measurement period).The Company does not anticipate that the adoption of this standard will have a significant impact on its consolidated financial statements or the related disclosures. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the U.S. Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2019
Schedule of expected useful life, property and equipment [Table Text Block]	Computer equipment 3 years Furniture and fixtures 5 years Office equipment 5 years

Acquisition of IBASE Technolo_2

Acquisition of IBASE Technology Private Limited (Tables)	9 Months Ended
	Mar. 31, 2019
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	$ Accounts payable (88,745 ) Due to related parties (199,058 ) Net liabilities assumed (287,803 )

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Mar. 31, 2019
Schedule of Property, Plant and Equipment [Table Text Block]	Net Book Net Book Value Value Accumulated March 31, June 30, Cost Depreciation 2019 2018 $ $ $ $ Computer equipment 238,408 226,807 11,601 13,432 Furniture and fixtures 25,619 24,724 895 1,080 Office equipment 31,471 31,230 241 516 295,498 282,761 12,737 15,028

Nature of Operations and Goin_2

Nature of Operations and Going Concern (Narrative) (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Working capital deficiency	$ 659,179
Deficit	$ 3,073,675	$ 1,855,902

Acquisition of IBASE Technolo_3

Acquisition of IBASE Technology Private Limited (Narrative) (Details)	1 Months Ended	3 Months Ended
	Dec. 28, 2018$ / sharesshares	Mar. 31, 2018USD ($)$ / shares	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)
Notes payable			$ 0	$ 1,406,522
IBASE Technology Private Limited [Member]
Equity Method Investment, Ownership Percentage	100.00%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	18,998,211
Percentage of outstanding shares held by subsidiary	66.00%
Notes payable		$ 3,500,000		$ 1,406,522
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 0.90	$ 0.90
Debt Instrument, Convertible, Number of Equity Instruments		3,888,889

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Due to shareholders	$ 692,657		$ 692,657		$ 235,678
Directors' fees	$ 67,724	$ 68,354	$ 199,258	$ 201,255

Notes Payable (Narrative) (Deta

Notes Payable (Narrative) (Details)	3 Months Ended	6 Months Ended
	Mar. 31, 2018USD ($)$ / shares	Dec. 28, 2018USD ($)$ / shares	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)
Notes payable			$ 0	$ 1,406,522
IBASE Technology Private Limited [Member]
Notes payable	$ 3,500,000			$ 1,406,522
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 0.90	$ 0.90
Debt Instrument, Convertible, Number of Equity Instruments	3,888,889
Debt Instrument, Increase (Decrease), Net		$ 232,747

Common Stock (Narrative) (Detai

Common Stock (Narrative) (Details) - USD ($)	1 Months Ended	9 Months Ended
	Dec. 28, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Shares issued pursuant to conversion of debt (shares)	1,821,410
Shares issued pursuant to conversion of debt	$ 1,639,269	$ 1,639,269	$ 0
Share subscriptions received		$ 520,000		$ 0
Shares Subscribed but Unissued		577,778
Share Price		$ 0.90
IBASE Technology Private Limited [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	18,998,211

Schedule of expected useful lif

Schedule of expected useful life, property and equipment (Details)	9 Months Ended
	Mar. 31, 2019
Computer equipment [Member]
Expected useful life	3 years
Furniture and fixtures [Member]
Expected useful life	5 years
Office equipment [Member]
Expected useful life	5 years

Schedule of Recognized Identifi

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - IBASE Technology Private Limited [Member]	Dec. 28, 2018USD ($)
Accounts payable	$ (88,745)
Due to related parties	(199,058)
Net liabilities assumed	$ (287,803)

Schedule of Property, Plant and

Schedule of Property, Plant and Equipment (Details) - USD ($)	Mar. 31, 2019	Jun. 30, 2018
Cost	$ 295,498
Accumulated Depreciation	282,761
Net Book Value	12,737	$ 15,028
Computer equipment [Member]
Cost	238,408
Accumulated Depreciation	226,807
Net Book Value	11,601	13,432
Furniture and fixtures [Member]
Cost	25,619
Accumulated Depreciation	24,724
Net Book Value	895	1,080
Office equipment [Member]
Cost	31,471
Accumulated Depreciation	31,230
Net Book Value	$ 241	$ 516