Xiamen Lutong International Travel Agency (LTGJ) 10-Q 15 May 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2017	May 15, 2017
Document And Entity Information
Entity Registrant Name	HighLight Networks, Inc.
Entity Central Index Key	1,445,175
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		58,167,600
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,017

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Current Assets:
Cash	$ 0	$ 0
Total Current Assets	0	0
Total Assets	0	0
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable	17,500	0
Accrued expenses		27,508
Due to a related party	39,805	0
Notes payable to a related party		256,132
Total Liabilities	360,172	283,640
Stockholders' Deficit:
Preferred stock, $0.001 par value; 20,000,000 shares authorized; no shares outstanding and outstanding	0	0
Common stock, $0.001 par value; 150,000,000 shares authorized; 58,167,600 and 58,167,600 shares issued and outstanding, respectively	58,168	58,168
Additional paid-in capital	8,542,963	8,542,963
Accumulated deficit	(8,961,303)	(8,884,771)
Total Stockholders' Deficit	(360,172)	(283,640)
Total Liabilities and Stockholders' Deficit	$ 0	$ 0

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Jun. 30, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	58,167,600	58,167,600
Common stock, shares outstanding	58,167,600	58,167,600

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Revenue:
Income	$ 0	$ 0	$ 0	$ 0
Operating Expenses:
General & administrative expenses	57,305	0	57,305	0
Total operating expenses	57,305	0	57,305	0
Income from operations	(57,305)	0	(57,305)	0
Other expense:
Interest expense	(6,315)	(6,386)	(19,227)	(19,298)
Total other expense	(6,315)	(6,386)	(19,227)	(19,298)
Loss before income taxes	(63,620)	(6,386)	(76,532)	(19,298)
Provision for income taxes	0	0	0	0
Net loss	$ (63,620)	$ (6,386)	$ (76,532)	$ (19,298)
Basic loss per share	$ 0	$ 0	$ 0	$ 0
Basic weighted average shares	58,167,600	58,167,600	58,167,600	58,167,600

Condensed Statements Of Cash Fl

Condensed Statements Of Cash Flows - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net loss	$ (63,620)	$ (6,386)	$ (76,532)	$ (19,298)
Changes in assets and liabilities:
Accounts payable			17,500	0
Accrued Expense			19,227	19,298
Net cash used in operating activities			(39,805)	0
Cash flows from investing activities			0	0
Proceeds from notes payable to related parties			39,805	0
Net cash provided by financing activities			39,805	0
Net decrease in cash			0	0
Cash, beginning of period		0	0	0
Cash, end of period	$ 0	$ 0	$ 0	$ 0

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS The Company was formed on June 21, 2007 as a Nevada corporation. The Company has a June 30 year end. On March 11, 2013, EZ Recycling, Inc was formed and incorporated to serve as a wholly owned subsidiary of Highlight Networks, Inc. EZ Recycling is incorporated in the State of Nevada. EZ Recycling was spun off in conjunction with the share purchase agreement referred to in the following paragraph. All inter-company balances and transactions entered into prior to the change in ownership described in the following paragraph were eliminated in consolidation and the financial statements reflect the deconsolidation of the subsidiary as of the change in control date. On June 5, 2015, Legacy International Holdings Group, LLC., and Allied Crown Enterprises Limited, entered into a share purchase agreement (the "SPA") to purchase 98% of the outstanding capital stock of Highlight Networks, Inc., from Infanto Holding Corp. for an aggregate purchase price of $315,000. The purchase represented 98% of Highlight Networks, Inc., or 57,000,000 shares of restricted common stock. The Company has 58,167,600 shares issued and outstanding as of the date of this filing. Nature of Business From the date of its change of control on June 18, 2015, the Company has conducted no business operations and has been in the developmental stage . Upon the Change of Control on June 18, 2015, the Company’s operating asset, EZ Recycling, Inc. was removed and the Company reverted to shell company status. The U.S. Securities and Exchange Commission (the “SEC”) defines those companies as “any development stage company within the meaning of Section 3 (a)(51) of the Exchange Act of 1934, as amended, (the “Exchange Act”) and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies.” Under Rule 12b-2 of the Exchange Act, the Company also qualifies as a “shell company,” because it has no or nominal assets (other than cash) and no or nominal operations. The Company’s principal executive offices are located at 2371 Fenton Street, Chula Vista, CA 91914.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending June 30, 2017. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2016. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates. Recent Accounting Pronouncements The Company has reviewed all recently issued accounting pronouncements and plans to adopt those that are applicable to it. The Company does not expect the adoption of any other pronouncements to have an impact on its results of operations or financial position.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
NOTE 3 - RELATED PARTY TRANSACTIONS	NOTE 3 - RELATED PARTY TRANSACTIONS On June 5, 2015, the Company executed a promissory note with Friction & Heat, LLC. Friction& Heat LLC is owned by Joseph C. Passalaqua, a former officer of Highlight Networks, Inc. The note is unsecured, due on demand and accrues interest at 10% per annum. As of March 31, 2017, there was $256,132 and $46,730 of principal and interest, respectively, due on the note to Friction & Heat LLC. During the nine months ended March 31, 2017, Jose Mayorquin, CEO advanced he Company $39,805 to pay for professional fees incurred to comply with the filing requirements of the SEC. The advance is unsecured, non-interest bearing and due on demand.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 4 - GOING CONCERN	NOTE 4 - GOING CONCERN The accompanying financial statements have been prepared on the basis of accounting principles applicable to a “going concern,” which assume that Highlight Networks, Inc. (hereto referred to as the “Company”) will continue in operation for at least one year and will be able to realize its assets and discharge its liabilities in the normal course of operations. Several conditions and events raise substantial doubt as to the Company’s ability to continue as a “going concern.” The Company has an accumulated deficit of $8,961,303, a working capital deficit and has had limited revenues The Company requires additional financing in order to finance its business activities on an ongoing basis. The Company’s future capital requirements will depend on numerous factors including, but not limited to, continued progress in the pursuit of business opportunities. The Company is actively pursuing alternative financing and has had discussions with various third parties, although no firm commitments have been obtained. In the interim, shareholders of the Company have committed to meeting its minimal operating expenses. Management believes that actions presently being taken to revise the Company’s operating and financial requirements provide them with the opportunity to continue as a “going concern.” These financial statements do not reflect adjustments that would be necessary if the Company were unable to continue as a “going concern.” While management believes that the actions already taken or planned, will mitigate the adverse conditions and events which raise doubt about the validity of the “going concern” assumption used in preparing these financial statements, there can be no assurance that these actions will be successful. If the Company were unable to continue as a “going concern,” then substantial adjustments would be necessary to the carrying values of assets, the reported amounts of its liabilities, the reported revenues and expenses, and the balance sheet classifications used.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
NOTE 5 - SUBSEQUENT EVENTS	NOTE 5 – SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued, and determined that no subsequent events occurred that would require adjustment to or disclosure in the financial statements.

SUMMARY OF SIGNIFICANT ACCOUN11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presenation	Basis of Presentation The Company’s unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending June 30, 2017. These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2016.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has reviewed all recently issued accounting pronouncements and plans to adopt those that are applicable to it. The Company does not expect the adoption of any other pronouncements to have an impact on its results of operations or financial position.

ORGANIZATION AND DESCRIPTION 12

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2017	Jun. 05, 2015
Accounting Policies [Abstract]
Business Acquisition, Date of Agreement	Jun. 5, 2015
Business Acquisition, Capital Stock Acquired		98.00%
Business Acquisition, Value Assigned to Equity Interest		$ 315,000
Business Acquistion, Number of Shares Issued	57,000,000
Shares Issued		58,167,600
Shares Outstanding		58,167,600

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Promissory Note, Outstanding Principal			$ 256,132
Promissory Note, Accrued Interest			$ 27,508
Proceeds from related party debt	$ 39,805	$ 0
Friction & Heat [Member]
Description of Trasaction	On June 5, 2015, the Company executed a promissory note with Friction & Heat, LLC. Friction& Heat LLC is owned by Joseph C. Passalaqua, a former officer of Highlight Networks, Inc. The note is unsecured, due on demand and accrues interest at 10% per annum. As of March 31, 2017, there was $256,132 and $46,730 of principal and interest, respectively, due on the note to Friction & Heat LLC.
Promissory Note, Outstanding Principal	$ 256,132
Promissory Note, Accrued Interest	46,730
Chief Executive Officer [Member]
Proceeds from related party debt	$ 39,805

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Deficit	$ (8,961,303)	$ (8,884,771)

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	9 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Subsequent Events	None