Artisan Consumer Goods (ARRT) 10-K 22 Oct 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2019	Oct. 14, 2019	Dec. 31, 2018
Document And Entity Information
Entity Registrant Name	Artisan Consumer Goods, Inc.
Entity Central Index Key	0001530425
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--06-30
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		4,400,048
Entity Public Float			$ 910,739

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Current assets:
Cash		$ 5,813
Inventory	423
Total current assets	423	5,813
Total Assets	423	5,813
Current liabilities:
Accounts payable	35,867	32,222
Accrued expenses	44,286	38,571
Related party loans	72,497	61,000
Total current liabilities	152,650	131,793
Commitments and contingencies
Stockholders' deficiency:
Preferred stock, $0.001 par value; 25,000,000 shares authorized, -0- preferred stock shares issued and outstanding as of June 30, 2019 and 2018
Common stock, $0.001 par value, 500,000,000 shares authorized 4,400,048 issued and outstanding as of June 30, 2019 and 2018	4,400	4,400
Additional paid-in capital	18,984,200	18,984,200
Stock to be issued	29,683	3,325
Accumulated deficit	(19,170,510)	(19,117,905)
Total stockholders' deficiency	(152,227)	(125,980)
Total Liabilities and Stockholders' Deficiency	$ 423	$ 5,813

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Jun. 30, 2018	Feb. 14, 2017	Sep. 19, 2016
Stockholders' deficiency
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000
Preferred stock, shares par value	$ 0.001	$ 0.001		$ 0.001
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, shares authorized	500,000,000	500,000,000	500,000,000	256,000,000
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares issued	4,400,048	4,400,048	4,400,000
Common stock, shares outstanding	4,400,048	4,400,048	4,400,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating expenses:
Stock based compensation	$ 26,358	$ 1,015
Professional fees	19,692	24,424
General and administrative expenses	840	2,628
Total operating expenses	46,890	28,067
Net operating income (loss)	11,047	4,994
Other income (expense):
Other income	(5,715)	4,286
Total Other income (expense)	(5,715)	4,286
Net income (loss)	$ (52,605)	$ (23,781)
Basic and diluted income (loss) per share	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding - basic and diluted	4,400,048	4,400,048

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity - USD ($)	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Common Stock To Be Issued	Accumulated Deficit
Beginning Balance, shares at Jun. 30, 2017		4,400,048
Beginning Balance, amount at Jun. 30, 2017	$ (103,214)	$ 4,400		$ 18,984,200	$ 2,310	$ (19,094,124)
Common Stock to be issued	1,015				1,015
Net loss	(23,781)					(23,781)
Ending Balance, shares at Jun. 30, 2018		4,400,048
Ending Balance, amount at Jun. 30, 2018	(125,980)	$ 4,400		18,984,200	3,325	(19,117,905)
Common Stock to be issued	26,358				26,358
Net loss	(52,605)					(52,605)
Ending Balance, shares at Jun. 30, 2019		4,400,048
Ending Balance, amount at Jun. 30, 2019	$ (152,227)	$ 4,400		$ 18,984,200	$ 29,683	$ (19,170,510)

Statements of Cash Flow

Statements of Cash Flow - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ (52,605)	$ (23,781)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	26,358	1,015
Fair value adjustment for shares issued from settlement agreement (Note 3)	5,715	4,286
Changes in operating assets and liabilities:
Inventory	(423)
Accounts payable	3,645	4,515
Accrued expenses		(8,572)
Net cash used in operating activities	(17,310)	(22,537)
Cash flows from financing activities
Proceeds from related party advances	11,497	26,000
Net cash provided by financing activities	11,497	26,000
Net increase (decrease) in cash	(5,813)	3,463
Cash - beginning of the year	5,813	2,350
Cash - end of the year		5,813
Supplemental disclosures:
Interest paid
Income taxes
Non-cash transactions:
Stock Compensation	$ 26,358	$ 1,015

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Jun. 30, 2019
ORGANIZATION AND DESCRIPTION OF BUSINESS
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	Artisan Consumer Goods, Inc. (the “Company”) was incorporated in the State of Nevada on September 14, 2009, and its year-end is June 30. The Company’s principle executive office address is 297 President Street, Brooklyn, New York 11231. The Company had previously acquired mineral properties located in the Thunder Bay mining district, Province of Ontario, Canada but never determined whether these properties contain reserves that are economically recoverable. As of June 30, 2015, the Company ceased our exploration operations in the Thunder Bay mining district due to a lack of funds. As of September 30, 2018, the Company ceased pursing all mining exploration. The Company is currently in the business of branding, creating, sourcing and distributing artisan consumer packaged goods. On September 19, 2016, the shareholders of Company approved an increase to the number of authorized shares from 256,000,000 shares to 500,000,000 shares and added 25,000,000 shares of (“blank check”) preferred stock, par value $0.001 per share. The board of directors of the Company is authorized to provide for the issuance of preferred stock in series, to establish the number of shares to be included in each series, and to fix the designation, powers, preference and rights to the shares of each series and any qualifications, limitations or other restrictions. The Company filed a Certificate of Amendment with the State of Nevada, effective on September 28, 2016, increasing the number of authorized shares from 256,000,000 shares to 500,000,000 shares and adding a new class of 25,000,000 shares of (“blank check”) preferred stock, par value $0.001 per share. On September 28, 2016, William Drury resigned as President, Treasurer and director of the Company. Mr. Drury remains the Company’s Secretary. On October 17, 2016, the shareholders of Cassidy Ventures Inc., approved a name change and approved a 1-for-70 reverse split. Thereafter, Cassidy Ventures Inc. filed a Certificate of Amendment with the State of Nevada, effective on October 19, 2016, changing its name to “Lash, Inc.” and the contemplated 1-for-70 reverse split. On October 28, 2016 and in accordance with SEC Rule 10b-17 and FINRA Rule 6490, the Company submitted documents and other information to FINRA in furtherance of pursuing and obtaining approval of the subject reverse stock split. The Company also submitted additional documents requested by, and necessary to obtain approval of, FINRA in connection with the subject reverse stock split. FINRA and the transfer agent recognized the split on February 14, 2017. The authorized shares did not change in connection with the split and will remain at 500,000,000 shares of common stock and 25,000,000 shares of (“blank check”) preferred stock. On April 11, 2018, the shareholders of Lash, Inc. approved a name change. Thereafter, Lash, Inc. filed a Certificate of Amendment with the State of Nevada, effective on April 19, 2018, changing its name to “Artisan Consumer Goods, Inc.” On April 19, 2018 and in accordance with SEC Rule 10b-17 and FINRA Rule 6490, the Company submitted documents and other information to FINRA in furtherance of pursuing and obtaining approval of the name change.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The Company’s consolidated financial statements have been prepared on an accrual basis of accounting, in conformity with accounting principles generally accepted in the United States of America (US GAAP). 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 disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company provides estimates for its common stock valuations and valuation allowances for deferred taxes. Reclassification Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the year ended June 30, 2019. Cash Flow Reporting The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments. Cash and Cash Equivalents The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents. There were no cash equivalents as of June 30, 2019. The Company maintains its cash balance at one financial institution that is insured by the Federal Deposit Insurance Corporation. Inventory Inventory is stated at the lower of cost (FIFO: first-in, first-out) or market. The cost of inventory includes the cost of raw materials and freight. As of June 30, 2019, the Company had raw materials inventory of $423, with no allowance for obsolescence. Basic Earnings (loss) per Share The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. Basic net earnings (loss) per share amounts are computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. Share Based Compensation The Company accounts for share-based compensation in accordance with the fair value recognition provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 718 and No. 505. After December 15, 2018, the scope of Topic 718, Compensation—Stock Compensation, was expanded to include share-based payments issued to nonemployees for goods and services. The Company issues restricted stock to employees and consultants for their services. Cost for these transactions are measured at the fair value of the equity instruments issued at the date of grant. These shares are considered fully vested and the fair market value is recognized as expense in the period granted. The Company recognized consulting expenses and a corresponding increase to additional paid-in-capital related to stock issued for services. For agreements requiring future services, the consulting expense is to be recognized ratably over the requisite service period. Stock based compensation amounted to $26,358 and $1,015 for the years ended June 30, 2019 and 2018, respectively. Fair Value Measurements In September 2006, the FASB issued ASC 820 (previously SFAS 157) which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The provisions of ASC 820 were effective January 1, 2008. As defined in ASC 820, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observations of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The three levels of the fair value hierarchy defined by ASC 820 are as follows: Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars. Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. Income Taxes The Company accounts for income taxes utilizing the liability method of accounting. Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized. The Company follows ASC 740-10, “Accounting for Uncertainty in Income Taxes” (“ASC 740-10”). This interpretation requires recognition and measurement of uncertain income tax positions using a “more-likely-than-not” approach. ASC 740-10 is effective for fiscal years beginning after December 15, 2006. Management has adopted ASC 740-10 for 2007, and they evaluate their tax positions on an annual basis, and have determined that as of June 30, 2019, no additional accrual for income taxes is necessary. The Company’s policy is to recognize both interest and penalties related to unrecognized tax benefits expected to result in payment of cash within one year are classified as accrued liabilities, while those expected beyond one year are classified as other liabilities. The Company has not recorded any interest or penalties since its inception. The Company intends to file income tax returns in the U.S. federal tax jurisdiction and various state tax jurisdictions. The tax years for 2010 to 2018 remain open for examination by federal and/or state tax jurisdictions. The Company is currently not under examination by any other tax jurisdictions for any tax year. Going Concern These financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred a loss since inception resulting in an accumulated deficit of $19,170,510 at June 30, 2019 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and/or private placement of common stock. There is no guarantee that the Company will be able to raise any capital through any type of offering. Recently Issued Accounting Standards There have been no new accounting pronouncements during the year ended June 30, 2019 that we believe would have a material impact on our financial position or results of operations.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jun. 30, 2019
RELATED PARTY TRANSACTIONS
NOTE 3 - RELATED PARTY TRANSACTIONS	On February 1, 2015, the Company entered into a 24-month consulting agreement extension with William Drury, an Officer of the Company and WICAWIBE LLC., 297 President Street, Brooklyn, NY 11231. Prior to subsequent termination, the agreement was to expire on January 31, 2017 and the monthly fee was $15,000. On September 28, 2016, Mr. Drury resigned as President and Treasurer of the Company. On September 29, 2016, a settlement agreement between Mr. Drury and the Company was signed which provides a payment of $50,000 in cash and $50,000 in the Company’s common stock to release the Company from all possible claims of accrued salary, independent contractor fees, expense and cost owed to Mr. Drury and terminate the consulting agreement which was scheduled to expire on January 31, 2017. On October 2, 2016, Mr. Drury resigned as director and the Company accepted his resignation and ratified the settlement agreement dated September 29, 2016. According to the settlement agreement, $46,500 was paid directly to Mr. Drury on October 5, 2016 and the remaining $3,500 paid directly to an attorney for the legal fees related to the settlement agreement. The shares of the Company’s common stock are issuable to Mr. Drury in increments of 3,571 shares. Mr. Drury will continue to be issued 3,571 until he is able to garner $50,000 by selling the shares in the over-the-counter market or an exchange (as defined under the securities act of 1933, as amended). On October 24, 2016, the Company issued 14,286 shares of the Company’s common stock to Mr. Drury to partially settle the $50,000 common stock obligation. Those shares had a fair value of $3,200 at the date of issuance. This liability represents an unconditional obligation to issue a variable number of shares for a fixed monetary amount. The fair value of the shares issued to Mr. Drury but not yet sold are netted against the liability in the balance sheet. Subsequent adjustments to the fair value of the shares issued but not sold are recognized as an adjustment to the net liability and other income/expense until such time as the shares are sold. Mr. Drury has not sold these shares as of June 30, 2019. For the years ended June 30, 2019 and 2018, the Company recognized $5,715 & ($4,286), respectively, of other (income) expense due to the marking of these shares to fair value subsequent to issuance. As a result of the settlement agreement, the Company wrote-off liabilities of $624,900 related to Mr. Drury to additional paid-in capital on the accompanying balance sheet during the three months ended September 30, 2016. Since September 2016, the Company’s President, Amber Finney, advanced the Company $62,497 as a related party loan. During May 2017, a related party advanced the Company an additional $10,000. The proceeds for these loans were used for working capital. As of June 30, 2019 and 2018, there are related party loans totaling $72,497 and $61,000, respectively. These advances are unsecured, due on demand and carry no interest or collateral. The officers of the Company could become involved in other business activities as they become available. This could create a conflict between the Company and the other business interests. The Company has not formulated a policy for the resolution of such a conflict should one arise.

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	12 Months Ended
	Jun. 30, 2019
PROVISION FOR INCOME TAXES
NOTE 4 - PROVISION FOR INCOME TAXES	Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Company’s assets and liabilities. Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Company’s tax return. Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. The provision for refundable federal income tax consists of the following for the 12 months ending: June 30, 2019 June 30, 2018 Federal income tax benefit attributable to: Net operating loss $ 11,047 $ 4,994 Less, valuation allowance (11,047 ) (4,994 ) Net benefit $ - $ - The cumulative tax effect at the expected rate of 21% on the net deferred tax amount is as follows: June 30, 2019 June 30, 2018 Deferred tax attributed: Deferred tax benefits $ 4,025,807 $ 4,014,760 Less valuation allowance (4,025,807 ) (4,014,760 ) Net Deferred Tax Asset $ - $ - At June 30, 2019 and 2018, the Company had a net operating loss (“NOL’s”) carry forward in the amount of $19,170,510 and $19,117,905, respectively, available to offset future taxable income. The Company established valuation allowances equal to the full amount of the deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods. The Company has not filed its federal tax returns since inception and therefore, the NOL’s will not be available to offset future taxable income until the tax returns are filed with the respective federal tax authorities. A reconciliation of the Company’s effective tax rate as a percentage of income before taxes and federal statutory rate for the periods ended June 30, 2019 and 2018 is summarized below. 2019 2018 Federal statutory rate (21.0 )% (34.0 )% State income taxes, net of federal benefits 0.0 0.0 Valuation allowance 21.0 % 34.0 %

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	12 Months Ended
	Jun. 30, 2019
EQUITY TRANSACTIONS
NOTE 5 - EQUITY TRANSACTIONS	On September 19, 2016, the shareholders of Company approved an increase to the number of authorized shares from 256,000,000 shares to 500,000,000 shares of common stock and added 25,000,000 shares of (“blank check”) preferred stock, par value $0.001 per share. On February 14, 2017, the Company received final approval for a 1-for-70 reverse stock split of its common stock. Immediately after effecting the subject 1-for-70 reverse stock split, the Company had 4,400,000 shares of common stock issued and outstanding and -0- shares of preferred stock issued and outstanding. The authorized shares did not change in connection with the split and will remain at 500,000,000 shares of common stock and 25,000,000 shares of (“blank check”) preferred stock. On November 8, 2016, the Company signed an agreement with a consultant for accounting services to the Company. The consultant is compensated with cash and paid $35 per hour in restricted shares of the Company’s common stock based on the average closing price of the Company’s common stock 5 (five) days prior to date of each invoice. As of June 30, 2019, the consultant has earned 15,269 shares valued at $4,183 or $0.274 per share. The shares were not issued to the consultant as of June 30, 2019. On January 15, 2019, a consultant was granted 50,000 restricted shares of the Company’s common stock for various services to the Company. The shares were valued at $25,500 or $0.51 per share. As of June 30, 2019, the shares have not been issued to the consultant. As of June 30, 2019, there are 500,000,000 shares of common stock at par value of $0.001 per share authorized and 4,400,000 issued and outstanding and 25,000,000 shares of (“blank check”) preferred stock, par value $0.001 per share authorized and -0- shares issued and outstanding.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2019
SUBSEQUENT EVENTS
NOTE 6 - SUBSEQUENT EVENTS	The Company evaluated all events or transactions that occurred after June 30, 2019 up through September 29, 2019. During this period, the Company did not have any material recognizable subsequent events.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Basis of Presentation	The Company’s consolidated financial statements have been prepared on an accrual basis of accounting, in conformity with accounting principles generally accepted in the United States of America (US GAAP).
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 disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company provides estimates for its common stock valuations and valuation allowances for deferred taxes.
Reclassification	Certain reclassifications have been made to the prior period financial information to conform to the presentation used in the financial statements for the year ended June 30, 2019.
Cash Flow Reporting	The Company follows ASC 230, Statement of Cash Flows, for cash flows reporting, classifies cash receipts and payments according to whether they stem from operating, investing, or financing activities and provides definitions of each category, and uses the indirect or reconciliation method (“Indirect method”) as defined by ASC 230, Statement of Cash Flows, to report net cash flow from operating activities by adjusting net income to reconcile it to net cash flow from operating activities by removing the effects of (a) all deferrals of past operating cash receipts and payments and all accruals of expected future operating cash receipts and payments and (b) all items that are included in net income that do not affect operating cash receipts and payments.
Cash and Cash Equivalents	The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents. There were no cash equivalents as of June 30, 2019. The Company maintains its cash balance at one financial institution that is insured by the Federal Deposit Insurance Corporation.
Inventory	Inventory is stated at the lower of cost (FIFO: first-in, first-out) or market. The cost of inventory includes the cost of raw materials and freight. As of June 30, 2019, the Company had raw materials inventory of $423, with no allowance for obsolescence.
Basic Earnings (loss) per Share	The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. Basic net earnings (loss) per share amounts are computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.
Share Based Compensation	The Company accounts for share-based compensation in accordance with the fair value recognition provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 718 and No. 505. After December 15, 2018, the scope of Topic 718, Compensation—Stock Compensation, was expanded to include share-based payments issued to nonemployees for goods and services. The Company issues restricted stock to employees and consultants for their services. Cost for these transactions are measured at the fair value of the equity instruments issued at the date of grant. These shares are considered fully vested and the fair market value is recognized as expense in the period granted. The Company recognized consulting expenses and a corresponding increase to additional paid-in-capital related to stock issued for services. For agreements requiring future services, the consulting expense is to be recognized ratably over the requisite service period. Stock based compensation amounted to $26,358 and $1,015 for the years ended June 30, 2019 and 2018, respectively.
Fair Value Measurements	In September 2006, the FASB issued ASC 820 (previously SFAS 157) which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The provisions of ASC 820 were effective January 1, 2008. As defined in ASC 820, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observations of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The three levels of the fair value hierarchy defined by ASC 820 are as follows: Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities. Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date. Level 2 includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars. Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value.
Income Taxes	The Company accounts for income taxes utilizing the liability method of accounting. Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized. The Company follows ASC 740-10, “Accounting for Uncertainty in Income Taxes” (“ASC 740-10”). This interpretation requires recognition and measurement of uncertain income tax positions using a “more-likely-than-not” approach. ASC 740-10 is effective for fiscal years beginning after December 15, 2006. Management has adopted ASC 740-10 for 2007, and they evaluate their tax positions on an annual basis, and have determined that as of June 30, 2019, no additional accrual for income taxes is necessary. The Company’s policy is to recognize both interest and penalties related to unrecognized tax benefits expected to result in payment of cash within one year are classified as accrued liabilities, while those expected beyond one year are classified as other liabilities. The Company has not recorded any interest or penalties since its inception. The Company intends to file income tax returns in the U.S. federal tax jurisdiction and various state tax jurisdictions. The tax years for 2010 to 2018 remain open for examination by federal and/or state tax jurisdictions. The Company is currently not under examination by any other tax jurisdictions for any tax year.
Going Concern	These financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred a loss since inception resulting in an accumulated deficit of $19,170,510 at June 30, 2019 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and/or private placement of common stock. There is no guarantee that the Company will be able to raise any capital through any type of offering.
Recently Issued Accounting Standards	There have been no new accounting pronouncements during the year ended June 30, 2019 that we believe would have a material impact on our financial position or results of operations.

PROVISION FOR INCOME TAXES (Tab

PROVISION FOR INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2019
PROVISION FOR INCOME TAXES
Schedule of federal income tax	June 30, 2019 June 30, 2018 Federal income tax benefit attributable to: Net operating loss $ 11,047 $ 4,994 Less, valuation allowance (11,047 ) (4,994 ) Net benefit $ - $ -
Schedule of Deferred Income Tax	June 30, 2019 June 30, 2018 Deferred tax attributed: Deferred tax benefits $ 4,025,807 $ 4,014,760 Less valuation allowance (4,025,807 ) (4,014,760 ) Net Deferred Tax Asset $ - $ -
Schedule Of Tax Rate	2019 2018 Federal statutory rate (21.0 )% (34.0 )% State income taxes, net of federal benefits 0.0 0.0 Valuation allowance 21.0 % 34.0 %

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - $ / shares	Nov. 08, 2016	Feb. 14, 2017	Jun. 30, 2019	Jun. 30, 2018	Oct. 17, 2016	Sep. 19, 2016
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)
State of incorporation			Nevada
Date of incorporation			Sep. 14, 2009
Common stock, authorized		500,000,000	500,000,000	500,000,000		256,000,000
Increase number of authorized shares					500,000,000	500,000,000
Added shares of preferred stock					25,000,000	25,000,000
Preferred stock, par value			$ 0.001	$ 0.001		$ 0.001
Reverse stock split		1-for-70

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative))
Stock based compensation	$ 26,358	$ 1,015
Accumulated deficit	(19,170,510)	(19,117,905)
Inventory	$ 423

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	May 31, 2017	Feb. 14, 2017	Oct. 24, 2016	Oct. 05, 2016	Sep. 30, 2016	Sep. 29, 2016	Feb. 01, 2015
Related party loans		$ 72,497	$ 61,000	$ 10,000
Agreement expiry date		Jan. 31, 2017
Monthly agreement fee										$ 15,000
Consulting agreement term		24 months
Common stock issued		4,400,048	4,400,048		4,400,000
Additional paid-in capital		$ 18,984,200	$ 18,984,200
Other income (expense)		5,715	$ (4,286)
Ms. Finney [Member]
Related party loans								$ 62,497
Mr. Drury [Member]
Common stock issued						14,286	3,571
Additional paid-in capital								$ 624,900
Due to related party							$ 46,500		$ 50,000
Common stock- related party									$ 50,000
Legal fees related to settlement agreement							$ 3,500
Settlement common stock obligation		$ 50,000				$ 50,000
Fair value issuance						$ 3,200

PROVISION FOR INCOME TAXES (Det

PROVISION FOR INCOME TAXES (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
PROVISION FOR INCOME TAXES
Net operating loss	$ 11,047	$ 4,994
Less, valuation allowance	(11,047)	(4,994)
Net benefit

PROVISION FOR INCOME TAXES (D_2

PROVISION FOR INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
PROVISION FOR INCOME TAXES (Details 1)
Deferred tax benefits	$ 4,025,807	$ 4,014,760
Less valuation allowance	(4,025,807)	(4,014,760)
Net Deferred Tax Asset

PROVISION FOR INCOME TAXES (D_3

PROVISION FOR INCOME TAXES (Details 2)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
PROVISION FOR INCOME TAXES
Federal statutory rate	(21.00%)	(34.00%)
State income taxes, net of federal benefits	0.00%	0.00%
Valuation allowance	21.00%	34.00%

PROVISION FOR INCOME TAXES (D_4

PROVISION FOR INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
PROVISION FOR INCOME TAXES (Details Narrative)
Net Operating Loss	$ 19,170,510	$ 19,117,905

EQUITY TRANSACTIONS (Details Na

EQUITY TRANSACTIONS (Details Narrative) - USD ($)	Jan. 15, 2019	Nov. 08, 2016	Feb. 14, 2017	Jun. 30, 2019	Jun. 30, 2018	Oct. 17, 2016	Sep. 19, 2016
EQUITY TRANSACTIONS (Details Narrative)
Increase number of authorized shares						500,000,000	500,000,000
Added shares of preferred stock						25,000,000	25,000,000
Preferred stock, par value				$ 0.001	$ 0.001		$ 0.001
Reverse stock split			1-for-70
Common stock, par value				$ 0.001	$ 0.001
Common stock, issued			4,400,000	4,400,048	4,400,048
Common stock, authorized			500,000,000	500,000,000	500,000,000		256,000,000
Common stock, outstanding			4,400,000	4,400,048	4,400,048
Preferred stock, issued			0	0	0
Preferred stock, outstanding			0	0	0
Preferred stock, authorized			25,000,000	25,000,000	25,000,000
Common stok issued for services, Share	50,000			15,269
Common stok issued for services, Amount	$ 25,500			$ 4,183
Common stock per share	$ 0.51			$ 0.274
Description of accounting services		The consultant is compensated with cash and paid $35 per hour in restricted shares of the Company’s common stock based on the average closing price of the Company’s common stock 5 (five) days prior to date of each invoice.