Ionix Technology (IINX) 10-Q 13 May 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2016	May. 11, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	IONIX TECHNOLOGY, INC.
Entity Central Index Key	1,528,308
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		99,003,000

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Mar. 31, 2016	Jun. 30, 2015
CURRENT ASSETS
Cash	$ 113,620	$ 691
Account and other receivables	$ 259,265
License fee receivable, net		$ 60,000
Total current assets	$ 372,885	60,691
OTHER ASSET
Intangible asset - License, net		54,475
Total other assets		54,475
TOTAL ASSETS	$ 372,885	115,166
CURRENT LIABILITIES
Accounts and other payable	273,584	$ 44,285
Accrued expenses	3,939
Due to director	$ 46,899
Due to shareholder		$ 133,317
Deferred revenue		60,000
Total current liabilities	$ 324,422	$ 237,602
COMMITMENT AND CONTINGENCIES
SHAREHOLDERS' DEFICIT
Preferred stock, 5,000,000 shares authorized of $.0001 par value; none issued and outstanding	$ 500
Common stock, 195,000 and 200,000,000 shares authorized, respectively of $.0001 par value; 99,003,000 issued and outstanding	9,900	$ 9,900
Additional paid in capital	53,161	$ 3,661
Accumulated Other Comprehensive Income	243
Accumulated deficit	(15,341)	$ (135,997)
Total shareholders' deficit	48,463	(122,436)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$ 372,885	$ 115,166

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Jun. 30, 2015
CONDENSED BALANCE SHEETS [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, authorized shares	195,000,000	200,000,000
Common stock shares issued	99,003,000	99,003,000
Common stock shares outstanding	99,003,000	99,003,000
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	5,000,000	5,000,000
Preferred stock, shares outstanding	5,000,000	5,000,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
CONDENSED STATEMENTS OF OPERATIONS [Abstract]
Revenues	$ 281,550		$ 281,550
Cost of revenues	253,121		253,121
Gross Profit	28,429		28,429
Operating Expenses:
Professional fees	13,877	$ 4,391	21,377	$ 20,823
General and Administrative	$ 7,202	1,052	10,242	2,468
Impairment		$ 5,000	$ 51,726	15,000
Assessment				10,000
Amortization		$ 2,749	$ 2,749	$ 8,247
Forgiveness of debt			(184,085)
Total Operating Expenses	$ 21,079	$ 13,192	(97,992)	$ 56,538
Net income (loss) before provision for income taxes	7,351	(13,192)	126,422	(56,538)
Taxation	5,766		5,766
Net Income (loss)	$ 1,585	$ (13,192)	$ 120,656	$ (56,538)
Net income (loss) per common share - basic and diluted
Weighted average number of common shares outstanding	99,003,000	99,003,000	99,003,000	99,003,000

STATEMENTS OF CONDENSED CONSOLI

STATEMENTS OF CONDENSED CONSOLIDATED COMPREHENSIVE INCOME - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net Income (loss)	$ 1,585	$ (13,192)	$ 120,656	$ (56,538)
Other comprehensive income:
Items that may be subsequently reclassified to profit or loss - Currency translation differences	243		243
Total comprehensive income	$ 1,828	$ (13,192)	$ 120,899	$ (56,538)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 9 months ended Mar. 31, 2016 - USD ($)	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance at Jun. 30, 2015	$ (122,436)		$ 9,900	$ 3,661	$ (135,997)
Balance, shares at Jun. 30, 2015			99,003,000
Share issued on February 17, 2016	50,000	500		49,500
Share issued on February 17, 2016, shares		$ 5,000,000
Net Income	$ 120,656				$ 120,656
Balance at Mar. 31, 2016	$ 48,463	$ 500	$ 9,900	$ 53,161	$ (15,341)
Balance, shares at Mar. 31, 2016		5,000,000	99,003,000

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss)	$ 120,656	$ (56,538)
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Amortization	2,749	$ 8,247
Exchange difference	243
Impairment	51,726	$ 15,000
Forgiveness of debt	(184,085)
Changes in assets and liabilities:
Increase in account and other receivable	$ (259,265)
Increase in license fee receivable		$ (25,000)
Increase (decrease) in accounts and other payable	$ 266,084	$ (771)
Increase in accrued expenses	3,939
Increase in due to director	$ 46,899
Increase in penalty payable		$ 10,000
Increase in deferred revenue		30,000
Net cash provided by (used for) operating activities	$ 48,703	$ (20,297)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of preferred stock	50,000
Proceeds from shareholder loan	13,983	$ 20,949
Net cash provided by financing activities	63,983	20,949
Net change in cash	112,929	652
Cash, at beginning of period	691	81
Cash, at end of period	$ 113,620	$ 733

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Mar. 31, 2016
DESCRIPTION OF BUSINESS [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1- DESCRIPTION OF BUSINESS When used in this report, the terms “Ionix”, “Company”, “we”, “our” or “us” mean, unless the context otherwise indicates, Ionix Technology, Inc. and its subsidiaries. Corporate History Ionix Technology, Inc. (the “Company”), formerly known as Cambridge Projects Inc., is a Nevada corporation that was formed on March 11, 2011, and maintains its principal executive office at 245 East Liberty Street, Suite 200, Reno, Nevada, 89501. The Company was originally formed as a vehicle to pursue a business combination through the acquisition of, or merger with, an operating business. The Company filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission (the “SEC”) on August 23, 2011, and focused its efforts to identify a possible business combination. On November 20, 2015, the Company's prior majority shareholder, prior sole director, prior Chief Executive Officer, prior Chief Financial Officer, prior Secretary, and prior Treasurer, Locksley Samuels (“Seller”), completed a private common stock purchase agreement (the “SPA”) to sell his entire 21,600,000 65.45 On November 30, 2015, the Company's board of directors (the “Board”) and the majority of its shareholders approved that (i) the Company change its name from “Cambridge Projects Inc.” to “Ionix Technology, Inc.”, (ii) the Company voluntarily changed its ticker symbol in connection with the name change, and (iii) the Company execute a 3:1 forward stock split, which will increase the Company's issued and outstanding shares of common stock from 33,001,000 99,003,000 On February 17, 2016, the Board ratified, approved, and authorized the Company's formation of a wholly-owned subsidiary, Well Best International Investment Limited, a limited liability company formed under the laws of Hong Kong Special Administrative Region (“Well Best”). Well Best has been formed to (i) act as an investment holding company and hold the assets of Taizhou Ionix Technology Company Limited (as explained below), and (ii) pursue new business ventures conducted in the Asia Pacific region excluding China. On February 17, 2016, the Board ratified, approved, and authorized the Company, as the sole member of Well Best, on the formation of Taizhou Ionix Technology Company Limited (“Taizhou Ionix”), a company formed under the laws of China and a wholly-owned subsidiary of Well Best. As a result, Taizhou Ionix is an indirect wholly-owned subsidiary of the Company. Taizhou Ionix was formed to (i) develop, design, and manufacture lithium-ion batteries for electric vehicles, and (ii) act as an investment holding company that may acquire other businesses located in China. Prior Operations and Agreements (Quadra & Zhunger) Quadra On February 8, 2012, the Company entered into an exclusive licensing agreement with Quadra International Inc. (“Quadra”) to sub-license, market, establish joint ventures, operate a pyrolic waste disposal system (the “QI System”), and sell related by-products using the QI Systems in the states of Johore and Selangor, Malaysia for a period of twenty-five 40,000 Under the terms of the licensing agreement, the Company was committed to purchase and install the QI System at a cost of $ 400,000 5 3 On April 25, 2013, the Company signed an addendum to the February 8, 2012, licensing agreement with Quadra, whereby the Company was granted an extension to purchase the QI System by December 31, 2013, for an extension fee of $ 15,000 On November 18, 2013, the Company signed an addendum to the February 8, 2012, licensing agreement with Quadra, whereby the Company was granted another extension to purchase the QI System by September 30, 2015, for an extension fee of $ 20,000 On April 7, 2014, the Company entered into an addendum agreement with Quadra to amend certain terms of the licensing agreement dated February 8, 2012, and November 18, 2013. The terms amended included the granting of additional territories to all states in Malaysia, and a requirement to purchase the QI System on or before December 31, 2016, in consideration for $ 70,000 70,000 On November 19, 2015 However, on November 23, 2015, signed a first final addendum amendment agreement with Quadra to amend the final addendum agreement dated as of November 19, 2015. Per this first final addendum amendment, the , with subsequent addendums thereto, is set to expire automatically on January 31, 2016, for no additional consideration, and no further action by either party is necessary to terminate the license agreement. The Company is also relieved from and is not required to purchase the QI System from Quadra as stated under the license agreement, with subsequent addendums thereto. For the sake of clarity, the Company shall not purchase the QI System from Quadra for $ 400,000 Zhunger The Company entered into a sub-license agreement on February 15, 2012, with Zhunger Capital Partners Inc. ("Zhunger”), a licensee domiciled in Taiwan to grant exclusive rights to sub-license, establish joint ventures, use and process organic waste, and sell related by-products using the QI System for a period of 25 70,000 5,000 As per our agreement with Quadra, 5 3 400,000 On April 26, 2013, the Company entered into an addendum to the February 15, 2012, sub license agreement with Zhunger, whereby the Company granted Zhunger an extension to purchase the QI System by December 31, 2013, for an extension fee of $ 20,000 5,000 25,000 18,000 3 5 150,000 50 On November 19, 2013, the Company entered into an addendum to its February 15, 2012, sub license agreement with Zhunger, whereby the Company granted Zhunger an extension to purchase the QI System by September 30, 2015, for an extension fee of $ 30,000 5,000 On April 10, 2014, the Company entered into an addendum agreement with Zhunger to amend certain terms of the original agreement dated February 15, 2012, and November 19, 2013. Terms amended include the requirement to purchase the QI System by December 31, 2015, for an extension fee of $ 30,000 5,000 50 150,000 On November 19, 2015 However, on November 23, 2015, signed a first final addendum amendment agreement with Zhunger to amend the final addendum agreement dated as of November 19, 2015. Per this first final addendum amendment, , with subsequent addendums thereto, is set to expire automatically on January 31, 2016 (the “Termination Date”), for no additional consideration, and no further action by either party is necessary to terminate the sub-license agreement. Zhunger is relieved from and is not required to purchase the QI System from the Company as stated under the sub-license agreement, with subsequent addendums thereto. For the sake of clarity, Zhunger shall not purchase the QI System from the Company for $ 400,000 51,726 Magnum On November 19, 2015, we received a letter of debt forgiveness from Magnum Group International Inc. (“Magnum”) whereby an aggregate amount of $ 184,085 Business Operations Lithium-ion Battery Industry Overview The lithium-ion battery industry is growing fast and is expected to continue to advance as high power and high capacity battery cells increase its penetration into broader forms of use. Lithium-ion batteries power most of the devices people use every day. For example, most lithium-ion batteries are used in consumer electronic devices such as computers and mobile devices. However, lithium-ion batteries have recently expanded into automotive products where they are used in electric vehicles and in storage applications. Our Business Upon the terminations of the licensing and sub-licensing agreements with Quadra and Zhunger, respectively, for the QI System, the Company has turned its attention to developing, designing, and manufacturing lithium-ion batteries. However, the Company believed that owning and operating its own manufacturing plant would be too costly. As a result, Taizhou entered into a manufacturing agreement (the “Manufacturing Agreement”) with Taizhou Jiunuojie Electronic Technology Limited (“Jiunuojie”) on January 1, 2016, whereby Jiunuojie agreed to manufacture and produce Taizhou's lithium-ion battery products at a fixed cost per product. In doing so, Taizhou now focuses on the research and development of new lithium battery manufacturing technology, and the marketing and sale of its lithium-ion battery products, where its core product is a lithium-ion battery for the use in electric vehicles.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2016
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION	NOTE 2 – BASIS OF PRESENTATION The unaudited interim financial statements of Ionix Technology, Inc. for the nine month periods ended March 31, 2016, and 2015 have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). In the opinion of management, such information contains all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of such comparable periods. The results of operations for the nine month periods ended March 31, 2016, are not necessarily indicative of the results to be expected for the full fiscal year ending June 30, 2016. Certain information and disclosures normally included in the notes to financial statements have been condensed or omitted as permitted by the rules and regulations of the SEC, although the Company believes the disclosures are adequate to make the information presented not misleading. The accompanying unaudited financial statements should be read in conjunction with the financial statements for year ended June 30, 2015. Preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying disclosures.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of estimates In preparing these consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. Basis of consolidation The consolidated financial statements include the financial statements of Ionix Technology Inc. and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Accounts receivable Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due within contractual payment terms, generally 30 to 90 days from shipment. Credit is extended based on evaluation of a customer's financial condition, the customer's credit-worthiness and their payment history. Accounts receivable outstanding longer than the contractual payment terms are considered past due. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. At the end of each period, the Company specifically evaluates individual customer's financial condition, credit history, and the current economic conditions to monitor the progress of the collection of accounts receivables. The Company will consider the allowance for doubtful accounts for any estimated losses resulting from the inability of its customers to make required payments. For the receivables that are past due or not being paid according to payment terms, the appropriate actions are taken to exhaust all means of collection, including seeking legal resolution in a court of law. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers. Impairment of long-lived assets In accordance with the provisions of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, all long-lived assets such as property, plant and equipment held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. There has been no impairment charge for the three and nine months ended March 31, 2016. Revenue recognition In accordance with the ASC Topic 605, “Revenue Recognition”, the Company recognizes revenue when persuasive evidence of an arrangement exists, transfer of title has occurred or services have been rendered, the selling price is fixed or determinable and collectability is reasonably assured. The Company recognizes revenue from the sale of such finished products upon delivery to the customer, whereas the title and risk of loss are fully transferred to the customers. The Company records its revenues, net of value added taxes (“VAT”). The Company is subject to VAT which is levied on the majority of the products at the rate of 17 Comprehensive income ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying consolidated statement of stockholders' equity, consists of changes in unrealized gains and losses on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or benefit. Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and discloses in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. For the three and nine months ended March 31, 2016, and 2015, the Company did not have any interest and penalties associated with tax positions. As of March 31, 2016, the Company did not have any significant unrecognized uncertain tax positions. Net loss per share The Company calculates net income per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is the United States Dollar ("US$"). The Company's subsidiaries in the People's Republic of China (“PRC”) maintain their books and records in their local currency, the Renminbi Yuan ("RMB"), which is the functional currency as being the primary currency of the economic environment in which these entities operate. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement ”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders' equity. Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence. Segment Reporting ASC Topic 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company's internal organization structure as well as information about geographical areas, business segments and major customers in financial statements. The Company operates in one reportable operating segment in the PRC. Fair Value of Financial Instruments The carrying value of the Company's financial instruments: cash and cash equivalents, accounts and retention receivable, prepayments and other receivables, accounts payable, income tax payable, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. Management believes, based on the current market prices or interest rates for similar debt instruments, the fair value of short-term bank borrowings and note payable approximate the carrying amount. The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” ("ASC 820-10"), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1: Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets; Level 2: Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. Black-Scholes Option-Pricing model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs; and Level 3: Inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models. Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements. The Company believes those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company, or (iv) are not expected to have a material impact on the Company's financial condition or the results of its operations.

COMMITMENT AND CONTINGENCIES

COMMITMENT AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2016
COMMITMENT AND CONTINGENCIES [Abstract]
COMMITMENT AND CONTINGENCIES	NOTE 4 – COMMITMENT AND CONTINGENCIES On November 23, 2015, the Company signed a first final addendum amendment agreement which relieved the Company from purchasing the QI System from Quadra as stated under the license agreement. There is reliance on a single project, and also a concentration in customer base and geographic area.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Mar. 31, 2016
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 - RELATED PARTY TRANSACTIONS On November 19, 2015, the Company received a letter of forgiveness from Magnum Group International Inc. (“Magnum”) whereby an aggregate amount of $ 184,085

LICENSE AGREEMENTS

LICENSE AGREEMENTS	9 Months Ended
	Mar. 31, 2016
LICENSE AGREEMENTS [Abstract]
LICENSE AGREEMENTS	NOTE 6 - LICENSE AGREEMENTS Quadra The Company entered into a license agreement on February 8, 2012, with Quadra International Inc. ("Quadra") to license, market, and operates a pyrolic waste disposal system (“QI System”) in the states of Johore and Selangor, Malaysia. The Company was granted a twenty-five 40,000 10 400,000 5 3 The addendum agreement with Quadra, dated April 7, 2014, also amended terms to include the granting of additional territories to all states in Malaysia in consideration for $ 70,000 On November 19, 2015 However, on November 23, 2015, signed a first final addendum amendment agreement with Quadra to amend the final addendum agreement dated as of November 19, 2015. Per this first final addendum amendment, the , with subsequent addendums thereto, is set to expire automatically on January 31, 2016, for no additional consideration, and no further action by either party is necessary to terminate the license agreement. The Company is also relieved from and is not required to purchase the QI System from Quadra as stated under the license agreement, with subsequent addendums thereto. For the sake of clarity, the Company shall not purchase the QI System from Quadra for $ 400,000 Zhunger The Company entered into a sub-license agreement on February 15, 2012 with Zhunger Capital Partners Inc. ("Zhunger”), a licensee domiciled in Taiwan to operate the QI System in the territory of Johore. The license rights were sold for $ 70,000 25,000 30,000 30,000 On November 19, 2015 However, on November 3, 2015, signed a first final addendum amendment agreement with Zhunger to amend the final addendum agreement dated as of November 19, 2015. Per this first final addendum amendment, , with subsequent addendums thereto, is set to expire automatically on January 31, 2016 (the “Termination Date”), for no additional consideration, and no further action by either party is necessary to terminate the sub-license agreement. Zhunger is relieved from and is not required to purchase the QI System from the Company as stated under the sub-license agreement, with subsequent addendums thereto. For the sake of clarity, Zhunger shall not purchase the QI System from the Company for $ 400,000 51,726 Impairment of License Value The Company has determined that it is more likely than not that the value of the license has diminished. There is no open market for this type of asset and no comparables. Therefore, we have reduced the value of the asset to zero

BUSINESS CONCENTRATIONS

BUSINESS CONCENTRATIONS	9 Months Ended
	Mar. 31, 2016
BUSINESS CONCENTRATIONS [Abstract]
BUSINESS CONCENTRATIONS	NOTE 7 - BUSINESS CONCENTRATIONS The Company currently has concentrations in supplier, customer, product and geographic area.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Mar. 31, 2016
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 8 - INCOME TAXES Ionix Technology Inc. is registered in the State of Nevada and is subject to the tax laws of the United States of America. Well Best is registered in Hong Kong and is subject to the tax laws of Hong Kong Special Administrative Region. Taizhou Ionix is registered in the People's Republic of China and is subject to the Corporate Income Tax of the People's Republic of China at a unified income tax rate of 25

COMMON AND PREFERRED STOCK

COMMON AND PREFERRED STOCK	9 Months Ended
	Mar. 31, 2016
COMMON AND PREFERRED STOCK [Abstract]
COMMON AND PREFERRED STOCK	NOTE 9 – COMMON AND PREFERRED STOCK On August 7, 2014, the shareholders of the Company approved an amendment to the Articles of Incorporation and Bylaws to change the number of the authorized capital of common stock from Two Hundred Million ( 200,000,000 195,000,000 0.0001 1 5,000,000 0.0001 100 On February 17, 2016, the Company entered into a subscription agreement to sell 5,000,000 “ 50,000 0.01 100

CORPORATE ACTIONS

CORPORATE ACTIONS	9 Months Ended
	Mar. 31, 2016
CORPORATE ACTIONS [Abstract]
CORPORATE ACTIONS	NOTE 10 – CORPORATE ACTIONS On November 30, 2015, the Company's board of directors (the “Board”) and the majority of its shareholders approved that (i) the Company change its name from “Cambridge Projects Inc.” to “Ionix Technology, Inc.”, (ii) the Company voluntarily change its ticker symbol in connection with the name change, and (iii) the Company execute a 3:1 forward stock split, which will increase the Company's issued and outstanding shares of common stock from 33,001,000 99,003,000 The Company filed an application with FINRA to effectuate the Corporate Actions, and filed a Form 8-K on December 10, 2015, in regards to the Corporate Actions. On February 3, 2016, FINRA approved the Corporate Actions, which took effect on the market on February 4, 2016. As a result, (i) the Company's name is now “Ionix Technology, Inc.”, (ii) its new trading symbol is “IINX” (although the new symbol will not be effective for 20 business days), (iii) the 3:1 forward stock split is effective, payable upon surrender, and (iv) the Company's new CUSIP number is 46222Q107.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policy)	9 Months Ended
	Mar. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Use of estimates	Use of estimates In preparing these consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates.
Basis of consolidation	Basis of consolidation The consolidated financial statements include the financial statements of Ionix Technology Inc. and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.
Accounts receivable	Accounts receivable Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due within contractual payment terms, generally 30 to 90 days from shipment. Credit is extended based on evaluation of a customer's financial condition, the customer's credit-worthiness and their payment history. Accounts receivable outstanding longer than the contractual payment terms are considered past due. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. At the end of each period, the Company specifically evaluates individual customer's financial condition, credit history, and the current economic conditions to monitor the progress of the collection of accounts receivables. The Company will consider the allowance for doubtful accounts for any estimated losses resulting from the inability of its customers to make required payments. For the receivables that are past due or not being paid according to payment terms, the appropriate actions are taken to exhaust all means of collection, including seeking legal resolution in a court of law. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers.
Impairment of long-lived assets	Impairment of long-lived assets In accordance with the provisions of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, all long-lived assets such as property, plant and equipment held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. There has been no impairment charge for the three and nine months ended March 31, 2016.
Revenue recognition	Revenue recognition In accordance with the ASC Topic 605, “Revenue Recognition”, the Company recognizes revenue when persuasive evidence of an arrangement exists, transfer of title has occurred or services have been rendered, the selling price is fixed or determinable and collectability is reasonably assured. The Company recognizes revenue from the sale of such finished products upon delivery to the customer, whereas the title and risk of loss are fully transferred to the customers. The Company records its revenues, net of value added taxes (“VAT”). The Company is subject to VAT which is levied on the majority of the products at the rate of 17
Comprehensive income	Comprehensive income ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying consolidated statement of stockholders' equity, consists of changes in unrealized gains and losses on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or benefit.
Income taxes	Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and discloses in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. For the three and nine months ended March 31, 2016, and 2015, the Company did not have any interest and penalties associated with tax positions. As of March 31, 2016, the Company did not have any significant unrecognized uncertain tax positions.
Net loss per share	Net loss per share The Company calculates net income per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.
Foreign currencies translation	Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is the United States Dollar ("US$"). The Company's subsidiaries in the People's Republic of China (“PRC”) maintain their books and records in their local currency, the Renminbi Yuan ("RMB"), which is the functional currency as being the primary currency of the economic environment in which these entities operate. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement ”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders' equity.
Related parties	Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence.
Segment Reporting	Segment Reporting ASC Topic 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company's internal organization structure as well as information about geographical areas, business segments and major customers in financial statements. The Company operates in one reportable operating segment in the PRC.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of the Company's financial instruments: cash and cash equivalents, accounts and retention receivable, prepayments and other receivables, accounts payable, income tax payable, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. Management believes, based on the current market prices or interest rates for similar debt instruments, the fair value of short-term bank borrowings and note payable approximate the carrying amount. The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” ("ASC 820-10"), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1: Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets; Level 2: Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. Black-Scholes Option-Pricing model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs; and Level 3: Inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models. Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.
Recent accounting pronouncements	Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements. The Company believes those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company, or (iv) are not expected to have a material impact on the Company's financial condition or the results of its operations.

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details) - USD ($)	1 Months Ended					3 Months Ended		9 Months Ended
	Nov. 20, 2015	Apr. 17, 2014	Apr. 26, 2013	Feb. 15, 2012	Feb. 08, 2012	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Nov. 30, 2015	Nov. 23, 2015	Jun. 30, 2015	Apr. 10, 2014	Apr. 07, 2014	Nov. 19, 2013	Nov. 18, 2013	Apr. 25, 2013	Mar. 01, 2012
DESCRIPTION OF BUSINESS [Abstract]
Common stock shares issued						99,003,000		99,003,000		33,001,000		99,003,000
Common stock shares outstanding						99,003,000		99,003,000		33,001,000		99,003,000
Forgiveness of debt								$ (184,085)
License And Sublicense Agreements [Line Items]
License value, net											$ 51,726
Shining Glory Investments [Member]
License And Sublicense Agreements [Line Items]
Investment in joint venture, ownership percentage	65.45%
Stock issued, shares	21,600,000
Licensing Agreement Quadra International [Member]
License And Sublicense Agreements [Line Items]
Duration of license agreement					25 years
Cost of license					$ 40,000
Purchase obligation					$ 400,000
Extension fee		$ 70,000
Percentage of royalty on sub licensors fees					5.00%			5.00%
Percentage of royalty fee on gross sales			5.00%		3.00%			3.00%
Addendum To License Agreement Quadra International [Member]
License And Sublicense Agreements [Line Items]
Extension fee payable														$ 70,000		$ 20,000	$ 15,000
Sublicense Agreement Zhunger Capital Partners [Member]
License And Sublicense Agreements [Line Items]
Duration of license agreement				25 years
Extension fee monthly installment amount			$ 5,000										$ 5,000		$ 5,000			$ 5,000
Extension fee lump sum amount			20,000
Extension fee payable			25,000			$ 18,000		$ 18,000					30,000		$ 30,000
License rights receivable				$ 70,000
Investment in joint venture			$ 150,000										$ 150,000
Investment in joint venture, ownership percentage			50.00%										50.00%

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Value added tax rate	17.00%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
RELATED PARTY TRANSACTIONS [Abstract]
Forgiveness of debt			$ (184,085)

LICENSE AGREEMENTS (Details)

LICENSE AGREEMENTS (Details) - USD ($)	1 Months Ended			9 Months Ended
	Apr. 26, 2013	Feb. 15, 2012	Feb. 08, 2012	Mar. 31, 2016	Nov. 23, 2015	Apr. 10, 2014	Apr. 07, 2014	Nov. 19, 2013	Nov. 18, 2013	Apr. 25, 2013
License And Sublicense Agreements [Line Items]
License value, net					$ 51,726
Licensing Agreement Quadra International [Member]
License And Sublicense Agreements [Line Items]
Duration of license agreement			25 years
Cost of license			$ 40,000
Purchase obligation			$ 400,000
Amortization period			10 years
Percentage of royalty on sub licensors fees			5.00%	5.00%
Percentage of royalty fee on gross sales	5.00%		3.00%	3.00%
Addendum To License Agreement Quadra International [Member]
License And Sublicense Agreements [Line Items]
Extension fee payable							$ 70,000		$ 20,000	$ 15,000
Sublicense Agreement Zhunger Capital Partners [Member]
License And Sublicense Agreements [Line Items]
Duration of license agreement		25 years
Extension fee payable	$ 25,000			$ 18,000		$ 30,000		$ 30,000
License rights receivable		$ 70,000

INCOME TAXES (Details)

INCOME TAXES (Details)	9 Months Ended
	Mar. 31, 2016
Foreign Tax Authority [Member]
Tax rate	25.00%

COMMON AND PREFERRED STOCK (Det

COMMON AND PREFERRED STOCK (Details) - USD ($)	9 Months Ended
	Mar. 31, 2016	Feb. 17, 2016	Jun. 30, 2015
Common stock, authorized shares	195,000,000		200,000,000
Common stock, par value	$ 0.0001		$ 0.0001
Common stock, votes per share	1
Preferred stock, authorized shares	5,000,000		5,000,000
Preferred stock, par value	$ 0.0001	$ 0.01	$ 0.0001
Preferred stock, votes per share	100
Share issued on February 17, 2016	50,000
Preferred Stock [Member]
Share issued on February 17, 2016, shares	$ 5,000,000
Share issued on February 17, 2016	50,000

CORPORATE ACTIONS (Details)

CORPORATE ACTIONS (Details) - shares	Mar. 31, 2016	Nov. 30, 2015	Jun. 30, 2015
CORPORATE ACTIONS [Abstract]
Common stock shares issued	99,003,000	33,001,000	99,003,000
Common stock shares outstanding	99,003,000	33,001,000	99,003,000