Avangard Capital (AVGC) 10-Q 20 May 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 31, 2015	18-May-15
Document And Entity Information
Entity Registrant Name	Avangard Capital Group, Inc
Entity Central Index Key	1561092
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-24
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,781,466
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2015

Condensed_Balance_Sheets_Unaud

Condensed Balance Sheets (Unaudited) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Current assets:
Cash	$20,576	$424,272
Floor plan financing receivable, net of allowance for uncollectible accounts		81,259
Used car inventory	6,825
Related party receivable		7,000
Total current assets	27,401	512,531
Property and equipment, net	2,932	3,331
Total assets	30,333	515,862
Current liabilities:
Accounts payable and accrued expenses	11,745	24,176
Due to related party	33,138
Total current liabilities	44,883	24,176
Stockholders' equity (deficit)
Convertible Preferred Stock Series A, $0.0001 par value, 300,000,000 authorized, 585,000 issued and outstanding at March 31, 2015 and 905,000 issued and outstanding at June 30, 2014	58	90
Common stock, $0.0001 par value, 100,000,000 authorized; Class A, 10,781,466 shares issued and outstanding at March 31, 2015 and 1,013,466 shares at June 30, 2014	1,078	101
Additional paid in capital	787,837	1,107,805
Accumulated deficit	-803,523	-616,310
Total stockholders' (deficit) equity	-14,550	491,686
Total liabilities and stockholders' equity	$30,333	$515,862

Condensed_Balance_Sheets_Unaud1

Condensed Balance Sheets (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Statement of Financial Position [Abstract]
Convertible Preferred Stock Series A, par value	$0.00	$0.00
Convertible Preferred Stock Series A, shares authorized	300,000,000	300,000,000
Convertible Preferred Stock Series A, shares issued	585,000	905,000
Convertible Preferred Stock Series A, shares outstanding	585,000	905,000
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock Class A, shares issued	10,781,466	1,013,466
Common stock Class A, shares outstanding	10,781,466	1,013,466

Condensed_Statements_of_Operat

Condensed Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
REVENUE
Fee revenue		$151		$25,709
Interest revenue		3,302		27,236
Total revenue		3,453		52,945
OPERATING EXPENSES
Selling, general and administrative	78,114	126,720	180,515	389,873
Bad debt expense	33,378	141,591	33,378	141,591
Total operating expenses	111,492	268,311	213,893	531,464
(Loss) from operations	-111,492	-264,858	-213,893	-478,519
Other income
Realized gain on marketable securities				58,091
Other income (inventory recovery)			26,355
Interest and dividend income	26	1,289	325	6,642
Total other income	26	1,289	26,680	64,733
Net loss	($111,466)	($263,569)	($187,213)	($413,786)
Net loss per share attributable to common shareholders - basic and diluted	($0.01)	($0.26)	($0.02)	($0.41)
Weighted average number of common shares used in computation - basic and diluted	10,781,466	1,013,466	10,424,970	1,013,466

Condensed_Statements_of_Compre

Condensed Statements of Comprehensive Loss (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	($111,466)	($263,569)	($187,213)	($413,786)
Other comprehensive income
Net change in unrealized gain on marketable securities				-24,225
Total comprehensive loss	($111,466)	($263,569)	($187,213)	($438,011)

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	($187,213)	($413,786)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	399	399
Gain on sale of marketable securities		-58,091
Other Income (Inventory recovery)	-26,355
Changes in operating assets and liabilities:
Provision for doubtful accounts		141,591
Used car inventory	100,789	-3,621
Used car auto financing portfolio		48,868
Fees receivable		11,218
Interest receivable		9,807
Related party receivable	7,000	-2,325
Other assets		2,980
Due to related party	33,138
Accounts payable and accrued expenses	-12,431	-2,891
NET CASH USED IN OPERATING ACTIVITIES	-84,673	-265,851
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of marketable securities		-34,369
Sale of marketable securities		446,438
NET CASH PROVIDED BY INVESTING ACTIVITES		412,069
CASH FLOWS FROM FINANCING ACTIVITIES
Stock subscription received	977	135,996
Redemption of preferred stock	-320,000
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	-319,023	135,996
Net (decrease) increase in cash	-403,696	282,214
Cash, beginning of the period	424,272	164,049
Cash, at end of the period	$20,576	$446,263

Nature_of_Business_and_Summary

Nature of Business and Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Nature of Business and Summary of Significant Accounting Policies	NOTE 1 - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Organization and Description of Business Avangard Capital Group, Inc., a Nevada corporation is referred to in this report as “we”, “us”, “our”, “ACG”, the “Company” or “Avangard Capital Group.”
	We were incorporated June 13, 2012 under the laws of the State of Nevada. Our executive offices are located at 2708 Commerce Way, Suite 300, Philadelphia, PA 19154.
	We were an independent auto sales finance company that provides floor plan financing for independent used car dealers based on the value of collateral (the car) as determined by us using the automobile industry’s nationally-recognized valuation sources. We maintain licenses to operate in the states of [New Jersey, Pennsylvania and Florida]. We commenced business June 22, 2012 with the purchase of all floor plan receivables from Avangard Auto Finance, Inc. (“AAF”), an affiliate. Pursuant to an Assignment Agreement with AAF dated June 13, 2012, we acquired AAF’s floor plan financing portfolio for $151,979, the face value of the contracts plus accrued interest and fees at that time.
	In January 2013 we received approval and were licensed by the States of Florida and New Jersey as a Sales Finance Company. In February 2013, we were licensed in the Commonwealth of Pennsylvania as a Sales Finance Company. These licenses permit us to expand our operations to providing financing for auto sales by dealers. We have not commenced operations in Florida or New Jersey as we are evaluating the feasibility of expanding into these markets. In addition, we have suspended financing new loans as we explore alternative opportunities for our future growth.
	On March 26, 2013 we acquired certain retail installment contract receivables from AAF and Avangard Financial Group, Inc., a related party (“AFG”) for $102,250. The receivables consisted of an aggregate principal balance of approximately $141,868 for current loans receivables and approximately $323,449 for non-current loans receivables. We recovered our initial investment and earned approximately 20% in interest on the investment.
	On February 19, 2014 we transferred all remaining loans receivable to AAF as we determined that the outstanding balances were either uncollectible or difficult to collect and the Company did not believe that pursuing further collection efforts was a good use of the Company’s resources.
	During the nine months ended March 31, 2015 we repossessed 18 vehicles. Of the 18 vehicles we repossessed we sold 14 vehicles at auction for a total of $116,600, less $3,958 selling costs and $31,811 repair costs.
	At March 31, 2015 our inventory consisted of one vehicle with a value of $6,825.
	Interim Financial Statements
	The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conformity with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. However, we believe that the disclosures included in these financial statements are adequate to make the information presented not misleading. The unaudited condensed financial statements included in this document have been prepared on the same basis as the annual financial statements, and in our opinion reflect all adjustments, which include normal recurring adjustments necessary for a fair presentation in accordance with GAAP and SEC regulations for interim financial statements. The results for the nine months ended March 31, 2015 are not necessarily indicative of the results expected for the full year or for any subsequent interim periods. These unaudited condensed financial statements should be read in conjunction with the audited financial statements and the notes to those statements included in our Annual Report on Form 10-K for the period ended June 30, 2014 filed with the SEC on September 30, 2014.
	Use of Estimates
	We use estimates and assumptions in preparing financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates.
	Cash and Cash Equivalents
	Cash and cash equivalents include highly liquid investments with an original maturity of three month or less when purchased.
	Revenue Recognition
	Interest income from floor plan financing receivable is recognized using the interest method. Accrual of income on finance receivables is suspended when a contract is contractually delinquent for ninety (90) days or more. The accrual is resumed when the contract becomes contractually current and past due interest is recognized at that time.
	Origination Fees are recognized for services provided during the loan origination process at the point in time the loan is funded.
	The Company accounts for its investment in floor plan financing receivables using the interest method, under ASC 310 pools of accounts are established based on certain common risk criteria. Each pool is recorded at cost and is accounted for as a single unit for the recognition of income, principal payments and loss provision.
	The Company accounts for its investment in retail installment contract receivables it acquired on March 26, 2013 using the cost recovery method as the Company’s collections on this particular pool of accounts cannot be reasonably predicted. Under the cost recovery method, no income is recognized until the cost of the retail installment contract receivables portfolio has been fully recovered. This pool of accounts can become fully amortized (zero carrying balance on the balance sheet) while still generating cash collections. In this case, all cash collections are recognized as revenue when received.
	Floor Plan Financing Receivable
	Floor plan financing receivable consists of purchased automobiles, which were assigned to us upon acquisition. The titles to the automobiles, which serve as security for the payment of the purchased contracts, are held by us.
	As of March 31, 2015 there are no floor plan financing receivables.
	We perform periodic evaluations of the adequacy of the allowance for losses taking into consideration the past loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, as well as recovery potential of any underlying collateral, personal guarantees and current economic conditions. Any increases in the allowance for losses subsequent to the acquisition of the contract are charged to earnings.
	Our primary floor plan customer defaulted on their agreement in February 2014. The floor plan agreement carried personal guarantees and confessions of judgment, in addition to first lien on all vehicles subject to the floor plan agreement. In March 2014, the customer filed for bankruptcy protection under Chapter 11 of the Federal Bankruptcy Code. We repossessed 18 of the 21 vehicles subject to the floor plan agreement from the debtor prior to its Chapter 11 filing. Additionally, there is a question of the legality of the debtor’s sale of four (4) vehicles which were subject to financing. Since we are unable to determine the exact amount of ultimate losses, on March 31, 2014 we provided a reserve for uncollectible receivables of $115,000.
	Inventory
	During the quarter ended March 31, 2015 we repossessed an additional 4 vehicles. Of the 18 vehicles we repossessed during the nine months ended March 31, 2015 we sold 14 vehicles at auction for a total recovery of $116,600, less $3,958 selling costs and $31,811 repair costs. The value of the floor plan receivables related to the vehicles sold was $123,550.
	At March 31, 2015 of the remaining 4 vehicles, 1 was sold in April 2015 for $6,825, and the remaining 3 vehicles are considered unsellable. Two vehicles were damaged to the extent that repairs were more costly than the value of the cars; one vehicle is being withheld from sale pending a court determination as to whether the vehicle was properly repossessed from a consumer. The carrying value of the 3 vehicles that are considered unsellable in inventory was $33,378. Since any recovery is doubtful the inventory value of the unsellable vehicles was charged to bad debts.
	Management has determined the proceeds from the sale of the remaining vehicles, if any, cannot be reasonable predicted.
	Comprehensive Income
	Comprehensive income consists of two components, net income and other comprehensive income. Other comprehensive income refers to revenue, expenses, gains, and losses that under GAAP are recorded as an element of shareholders’ equity but are excluded from net income. Other comprehensive income consists of unrealized gains on marketable securities categorized as available-for-sale.
	Concentrations of Credit Risk
	The Company’s assets exposed to credit risk are cash and finance and interest receivables.
	For the nine months ended March 31, 2015, the company had no revenue. For the nine months ended March 31, 2014 one significant customer accounted for 100% for both revenue and accounts receivable.
	The Company maintains its cash balances in Federal Deposit Insurance Corporation (“FDIC”) insured financial institutions. At times, cash balances may exceed the maximum insurance offered by FDIC.
	Property and Equipment
	Fixed assets are recorded at their historical cost upon acquisition or cost of construction. The assets are depreciated using the straight-line method over their statutory lives. The fixed asset categories and their estimated lives are as follows:
	Office Equipment 5 years
	Income Taxes
	We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company has incurred net operating loss for financial-reporting and tax-reporting purposes. Accordingly, for Federal and state income tax purposes, the benefit for income taxes has been offset entirely by a valuation allowance against the related federal and state deferred tax asset for the nine months ended March 31, 2015

Income_Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 2 - INCOME TAXES
	The net deferred tax asset consists of the following:
		31-Mar-15			30-Jun-14
	Deferred Tax Asset	$	326,177		$	250,181
	Less: Valuation Allowance		(326,177	)		(250,181	)
	Net Deferred Tax Assets	$	-		$	-
	As of March 31, 2014, the Company has net operating loss carry forwards of $829,879 that can be utilized to offset future taxable income for Federal and State income tax purposes through 2024, generating a maximum deferred tax benefit of $326,177 by applying Federal and State statutory tax rates. The Company applied a 100% valuation reserve against the deferred tax benefit, as the realization of the benefit is not certain.
	The following tax years remain subject to examination by the respective tax jurisdictions.
		Fiscal Years ending
		June 30,
	Internal Revenue Service	2012 - 2014
	Commonwealth of Pennsylvania	2012 - 2014

Common_and_Preferred_Stock

Common and Preferred Stock	9 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Common and Preferred Stock	NOTE 3 - COMMON AND PREFERRED STOCK
	On June 20, 2014 the Board of Directors authorized the completion of the Reverse Stock Split, and effective as of June 30, 2014, we completed a reverse stock split of our issued and outstanding common stock on a 1 for 10 basis (the “Reverse Stock Split”) . Throughout this quarterly report on Form 10-Q, each instance that refers to a number of shares of our common stock refers to the number of shares of common stock after giving effect to the Reverse Stock Split, unless otherwise indicated. No fractional shares of common stock were issued as a result of the Reverse Stock Split.
	As of March 31, 2015 we are authorized to issue 100,000,000 shares of $0.0001 par value common stock of which 10,781,466 are issued and outstanding.
	On July 10, 2014, the Company agreed to issue to Friedman Financial Group, LLC, a related party, 9,250,000 shares of the Company’s Common Stock in exchange for $925. Simon Friedman, the Company’s CEO and Chairman of the Board, has voting and dispositive control over securities held by Friedman Financial Group, LLC.
	On July 10, 2014, the Company agreed to issue to Jerry Kindrachuk 500,000 shares of the Company’s Common Stock in exchange for $50.
	On July 10, 2014, the Company agreed to issue to Arkady “Eric” Rayz, a member of the Company’s Board of Directors, 9,000 shares of its Common Stock in exchange for services that were valued at $1.
	On July 10, 2014, the Company agreed to issue to Robert Cornaglia, a member of the Company’s Board of Directors, 9,000 shares of its Common Stock in exchange for services that were valued at $1.
	We are authorized to issue 300,000,000 shares of $0.0001 par value Convertible Preferred Stock Series A. On December 29, 2014 the Board of Directors approved the redemption of 320,000 shares of Convertible Preferred Stock Series A at $1.00 per share. As of March 31, 2015 and June 30, 2014 the Company had issued and outstanding 585,000 and 905,000 shares of Convertible Preferred Stock Series A respectively.
	Common Stock Purchase Warrants
	A summary of the status of our outstanding common stock purchase warrants granted as of March 31, 2015 and changes during the period is as follows:
		Shares			Weighted
		Underlying			Average
		Warrants			exercise price
	Outstanding and exercisable at June 30, 2014		2,867		$	0.2
	Additions		-			-
	Outstanding and exercisable at March 31, 2015		2,867		$	0.2
	The following information applies to all warrants outstanding and exercisable at March 31, 2015:
	Number of Warrants
	outstanding and					Remaining contractual
	exercisable		Exercise Price			life (Years)
	2,867		$	0.2		0.63

Loss_Per_Share

Loss Per Share	9 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Loss Per Share	NOTE 4 - LOSS PER SHARE
	Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. The Company’s potential dilutive shares, which include convertible preferred shares and shares issuable upon exercise of the Warrants, have not been included in the computation of diluted net loss per share as the result would be antidilutive. Such potentially dilutive shares are excluded when the effect would be to reduce net loss per share. All potential common shares have been excluded from the computation of the dilutive net loss per share for the period presented because the effect would have been antidilutive. Such potential common shares consist of the following:
		31-Mar-15		31-Mar-14
	Convertible preferred stock		175,500		271,500
	Warrants attached to units sold		2,867		2,867

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 5 - RELATED PARTY TRANSACTIONS
	We entered into a lease agreement for office space with Commerce Way, LLC (“CWL”). CWL is owned by DJS Investments, LLC and SELF, LP. SELF, LP is a shareholder of Friedman Financial Group, who is a principal shareholder of our company. The lease requires monthly payments, commencing August 1, 2012, of $2,500 on a month to month basis. No security deposit was required. The company suspended operations and terminated the lease with Commerce Way, LLC. Effective January 2015 the company resumed paying $2,500 per month rent on a month to month basis. Rent expense for the nine months ended March 31, 2015 and 2014 was $7,500 and $22,500 respectively.
	On March 26, 2013 we entered into a Retail Installment Contract Receivable Purchase Agreement (the “Purchase Agreement”) with Avangard Auto Finance, Inc. and Avangard Financial Group, Inc. (the “Sellers”), both of whom are our affiliates. Under the terms of the Purchase Agreement, we agreed to pay the Sellers $102,250 (the “Purchase Price”) to purchase certain of their retail installment contract receivables as of the date of the agreement. These amounts included an aggregate principal balance of approximately $141,868 for current loans receivables (the “Current Loans”) and an aggregate principal balance of approximately $323,449 for non-current loans receivables (the “Non-Current Loans”). The Sellers guaranteed to us that we will recover no less than 70% of the aggregate amount of the Current Loans. If we recover less than 70% of the aggregate amount of the Current Loans, the Sellers shall pay the difference to us upon demand. On February 19, 2014 we transferred all remaining loans receivable to AAF as we determined that the outstanding balances were either uncollectible or difficult to collect and the Company did not believe that pursuing further collection efforts was a good use of the Company’s resources.
	On July 10, 2014, the Board of Directors accepted Subscription Agreements for the purchase of 9,768,000 shares of Common Stock at par value $0.0001 per share. Friedman Financial Group, LLC, a related party and the majority shareholder, subscribed for 9,250,000 shares of Common Stock. Corporate Board Members Eric Rayz and Robert Cornaglia subscribed to 9,000 shares of Common Stock each, and Jerry Kindrachuk, the financial consultant to the Company subscribed to purchase 500,000 shares of common Stock.
	Friedman’s Financial Group, a related party, provides service to the Company by using their license to participate in automobile auctions. Friedman’s Financial Group sells cars repossessed by the Company at auction and remits the proceeds to the Company. Friedman’s financial Group also provided services related to market development and new markets. During the quarter ended March 31, 2015 Friedman’s Financial Group were reimbursed $18,838 for expenditures on the Company’s behalf.
	Joseph Friedman & Sons, a related party provides administrative and consulting services for the Company. During the nine months ended March 31, 2015 Joseph Friedman & Sons provided $17,779 in reimbursable services.
	Effective as of December 29, 2014, the Company redeemed 320,000 shares of Convertible Preferred Stock Series A held by Friedman Financial Group, LLC at $1.00 per share. In addition, the Company has offered DJS Investments, LLC (“DJS”) the right to redeem 17,909 shares of Preferred Stock Series A it holds at $1.00 per share. This offer may be revoked by the Company at any time prior to acceptance by DJS.
	The Company has entered into a financing agreement with Simon Friedman, the Company’s Chief Executive Officer and Director, to provide a line of credit sufficient to finance corporate expenses while the Company pursues new business opportunities. The line of credit has a current limit of $30,000, payable on demand at no interest. As of March 31, 2015 the amount due under this financing agreement is $33,138.
	Officers and related parties of our company provide certain administrative expenses at no charge.

Nature_of_Business_and_Summary1

Nature of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Organization and Description of Business	Organization and Description of Business Avangard Capital Group, Inc., a Nevada corporation is referred to in this report as “we”, “us”, “our”, “ACG”, the “Company” or “Avangard Capital Group.”
	We were incorporated June 13, 2012 under the laws of the State of Nevada. Our executive offices are located at 2708 Commerce Way, Suite 300, Philadelphia, PA 19154.
	We were an independent auto sales finance company that provides floor plan financing for independent used car dealers based on the value of collateral (the car) as determined by us using the automobile industry’s nationally-recognized valuation sources. We maintain licenses to operate in the states of [New Jersey, Pennsylvania and Florida]. We commenced business June 22, 2012 with the purchase of all floor plan receivables from Avangard Auto Finance, Inc. (“AAF”), an affiliate. Pursuant to an Assignment Agreement with AAF dated June 13, 2012, we acquired AAF’s floor plan financing portfolio for $151,979, the face value of the contracts plus accrued interest and fees at that time.
	In January 2013 we received approval and were licensed by the States of Florida and New Jersey as a Sales Finance Company. In February 2013, we were licensed in the Commonwealth of Pennsylvania as a Sales Finance Company. These licenses permit us to expand our operations to providing financing for auto sales by dealers. We have not commenced operations in Florida or New Jersey as we are evaluating the feasibility of expanding into these markets. In addition, we have suspended financing new loans as we explore alternative opportunities for our future growth.
	On March 26, 2013 we acquired certain retail installment contract receivables from AAF and Avangard Financial Group, Inc., a related party (“AFG”) for $102,250. The receivables consisted of an aggregate principal balance of approximately $141,868 for current loans receivables and approximately $323,449 for non-current loans receivables. We recovered our initial investment and earned approximately 20% in interest on the investment.
	On February 19, 2014 we transferred all remaining loans receivable to AAF as we determined that the outstanding balances were either uncollectible or difficult to collect and the Company did not believe that pursuing further collection efforts was a good use of the Company’s resources.
	During the nine months ended March 31, 2015 we repossessed 18 vehicles. Of the 18 vehicles we repossessed we sold 14 vehicles at auction for a total of $116,600, less $3,958 selling costs and $31,811 repair costs.
	At March 31, 2015 our inventory consisted of one vehicle with a value of $6,825.
Interim Financial Statements	Interim Financial Statements
	The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conformity with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. However, we believe that the disclosures included in these financial statements are adequate to make the information presented not misleading. The unaudited condensed financial statements included in this document have been prepared on the same basis as the annual financial statements, and in our opinion reflect all adjustments, which include normal recurring adjustments necessary for a fair presentation in accordance with GAAP and SEC regulations for interim financial statements. The results for the nine months ended March 31, 2015 are not necessarily indicative of the results expected for the full year or for any subsequent interim periods. These unaudited condensed financial statements should be read in conjunction with the audited financial statements and the notes to those statements included in our Annual Report on Form 10-K for the period ended June 30, 2014 filed with the SEC on September 30, 2014.
Use of Estimates	Use of Estimates
	We use estimates and assumptions in preparing financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents
	Cash and cash equivalents include highly liquid investments with an original maturity of three month or less when purchased.
Revenue Recognition	Revenue Recognition
	Interest income from floor plan financing receivable is recognized using the interest method. Accrual of income on finance receivables is suspended when a contract is contractually delinquent for ninety (90) days or more. The accrual is resumed when the contract becomes contractually current and past due interest is recognized at that time.
	Origination Fees are recognized for services provided during the loan origination process at the point in time the loan is funded.
	The Company accounts for its investment in floor plan financing receivables using the interest method, under ASC 310 pools of accounts are established based on certain common risk criteria. Each pool is recorded at cost and is accounted for as a single unit for the recognition of income, principal payments and loss provision.
	The Company accounts for its investment in retail installment contract receivables it acquired on March 26, 2013 using the cost recovery method as the Company’s collections on this particular pool of accounts cannot be reasonably predicted. Under the cost recovery method, no income is recognized until the cost of the retail installment contract receivables portfolio has been fully recovered. This pool of accounts can become fully amortized (zero carrying balance on the balance sheet) while still generating cash collections. In this case, all cash collections are recognized as revenue when received.
Floor Plan Financing Receivable	Floor Plan Financing Receivable
	Floor plan financing receivable consists of purchased automobiles, which were assigned to us upon acquisition. The titles to the automobiles, which serve as security for the payment of the purchased contracts, are held by us.
	As of March 31, 2015 there are no floor plan financing receivables.
	We perform periodic evaluations of the adequacy of the allowance for losses taking into consideration the past loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, as well as recovery potential of any underlying collateral, personal guarantees and current economic conditions. Any increases in the allowance for losses subsequent to the acquisition of the contract are charged to earnings.
	Our primary floor plan customer defaulted on their agreement in February 2014. The floor plan agreement carried personal guarantees and confessions of judgment, in addition to first lien on all vehicles subject to the floor plan agreement. In March 2014, the customer filed for bankruptcy protection under Chapter 11 of the Federal Bankruptcy Code. We repossessed 18 of the 21 vehicles subject to the floor plan agreement from the debtor prior to its Chapter 11 filing. Additionally, there is a question of the legality of the debtor’s sale of four (4) vehicles which were subject to financing. Since we are unable to determine the exact amount of ultimate losses, on March 31, 2014 we provided a reserve for uncollectible receivables of $115,000.
	Inventory
	During the quarter ended March 31, 2015 we repossessed an additional 4 vehicles. Of the 18 vehicles we repossessed during the nine months ended March 31, 2015 we sold 14 vehicles at auction for a total recovery of $116,600, less $3,958 selling costs and $31,811 repair costs. The value of the floor plan receivables related to the vehicles sold was $123,550.
	At March 31, 2015 of the remaining 4 vehicles, 1 was sold in April 2015 for $6,825, and the remaining 3 vehicles are considered unsellable. Two vehicles were damaged to the extent that repairs were more costly than the value of the cars; one vehicle is being withheld from sale pending a court determination as to whether the vehicle was properly repossessed from a consumer. The carrying value of the 3 vehicles that are considered unsellable in inventory was $33,378. Since any recovery is doubtful the inventory value of the unsellable vehicles was charged to bad debts.
	Management has determined the proceeds from the sale of the remaining vehicles, if any, cannot be reasonable predicted.
Comprehensive Income	Comprehensive Income
	Comprehensive income consists of two components, net income and other comprehensive income. Other comprehensive income refers to revenue, expenses, gains, and losses that under GAAP are recorded as an element of shareholders’ equity but are excluded from net income. Other comprehensive income consists of unrealized gains on marketable securities categorized as available-for-sale.
Concentrations of Credit Risk	Concentrations of Credit Risk
	The Company’s assets exposed to credit risk are cash and finance and interest receivables.
	For the nine months ended March 31, 2015, the company had no revenue. For the nine months ended March 31, 2014 one significant customer accounted for 100% for both revenue and accounts receivable.
	The Company maintains its cash balances in Federal Deposit Insurance Corporation (“FDIC”) insured financial institutions. At times, cash balances may exceed the maximum insurance offered by FDIC.
Property and Equipment	Property and Equipment
	Fixed assets are recorded at their historical cost upon acquisition or cost of construction. The assets are depreciated using the straight-line method over their statutory lives. The fixed asset categories and their estimated lives are as follows:
	Office Equipment 5 years
Income Taxes	Income Taxes
	We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company has incurred net operating loss for financial-reporting and tax-reporting purposes. Accordingly, for Federal and state income tax purposes, the benefit for income taxes has been offset entirely by a valuation allowance against the related federal and state deferred tax asset for the nine months ended March 31, 2015

Income_Taxes_Tables

Income Taxes (Tables)	9 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Asset	The net deferred tax asset consists of the following:
		31-Mar-15			30-Jun-14
	Deferred Tax Asset	$	326,177		$	250,181
	Less: Valuation Allowance		(326,177	)		(250,181	)
	Net Deferred Tax Assets	$	-		$	-
Schedule of Tax Years Remain Subject To Examination by Respective Tax Jurisdictions	The following tax years remain subject to examination by the respective tax jurisdictions.
		Fiscal Years ending
		June 30,
	Internal Revenue Service	2012 - 2014
	Commonwealth of Pennsylvania	2012 - 2014

Common_and_Preferred_Stock_Tab

Common and Preferred Stock (Tables)	9 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Summary of Outstanding Common Stock Purchase Warrants Granted and Changes During Period	A summary of the status of our outstanding common stock purchase warrants granted as of March 31, 2015 and changes during the period is as follows:
		Shares			Weighted
		Underlying			Average
		Warrants			exercise price
	Outstanding and exercisable at June 30, 2014		2,867		$	0.2
	Additions		-			-
	Outstanding and exercisable at March 31, 2015		2,867		$	0.2
Schedule of Warrants Outstanding and Exercisable	The following information applies to all warrants outstanding and exercisable at March 31, 2015:
	Number of Warrants
	outstanding and					Remaining contractual
	exercisable		Exercise Price			life (Years)
	2,867		$	0.2		0.63

Loss_Per_Share_Tables

Loss Per Share (Tables)	9 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Summary of Potential Common Shares Excluded From Computation of Dilutive Net Loss Per Share		31-Mar-15		31-Mar-14
	Convertible preferred stock		175,500		271,500
	Warrants attached to units sold		2,867		2,867

Nature_of_Business_and_Summary2

Nature of Business and Summary of Significant Accounting Policies (Details Narrative) (USD $)	9 Months Ended	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Mar. 26, 2013	Jun. 30, 2014	Mar. 31, 2014	Jun. 13, 2012
	Vehicles	Vehicles
Acquisition of floor plan financing portfolio						$151,979
Number of repossessed additional vehicles	18
Number of vehicles sold at auction	14
Sales and Marketing cost	116,600
Selling costs	3,958
Repair costs	31,811
Used car inventory	6,825	6,825
Floor Plan Finance Receivables				81,259
Reserve for uncollectible receivables					115,000
One Customer [Member]
Percentage of revenue and accounts receivable	100.00%
Vehicles [Member] | Floor Plan Agreement [Member]
Number of repossessed additional vehicles		18
Number of vehicles sold at auction		4
Sales and Marketing cost		116,600
Selling costs		3,958
Repair costs		31,811
Floor Plan Finance Receivables	123,550	123,550
Four Vehicles [Member]
Number of vehicles sold at auction		1
Number of unsellable vehicles		3
Sales and Marketing cost		6,825
Value of unsellable cars recorded in inventory		33,378
Office Equipment [Member]
Office equipment estimated useful life	5 years
AAF And AFG [Member]
Related party receivables			102,250
Loans receivable, current			141,868
Loans receivable, non current			$323,449
Percentage of interest earned on investment			20.00%

Income_Taxes_Details_Narrative

Income Taxes (Details Narrative) (USD $)	9 Months Ended
	Mar. 31, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$829,879
Future taxable income for Federal and State income tax, year	through 2024
Deferred tax benefits	$326,177	$250,181
Percentage of deferred tax assets valuation reserve	100.00%

Income_Taxes_Schedule_of_Defer

Income Taxes - Schedule of Deferred Tax Asset (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Deferred Tax Asset	$326,177	$250,181
Less: Valuation Allowance	-326,177	-250,181
Net Deferred Tax Assets

Income_Taxes_Schedule_of_Tax_Y

Income Taxes - Schedule of Tax Years Remain Subject To Examination by Respective Tax Jurisdictions (Details)	12 Months Ended
	Jun. 30, 2014
Internal Revenue Service [Member]
Years remain subject to examination by the respective tax jurisdictions	2012 - 2014
Commonwealth Of Pennsylvania [Member]
Years remain subject to examination by the respective tax jurisdictions	2012 - 2014

Common_and_Preferred_Stock_Det

Common and Preferred Stock (Details Narrative) (USD $)	12 Months Ended	0 Months Ended
	Jun. 30, 2014	Jul. 10, 2014	Mar. 31, 2015	Dec. 29, 2014
Reverse Stock Split	a 1-for-10 basis
Fractional shares of common stock issued as result of Reverse Stock Split	0
Common stock Class A, shares authorized	100,000,000		100,000,000
Common stock Class A, par value	$0.00		$0.00
Common stock Class A, shares issued	1,013,466		10,781,466
Common stock Class A, shares outstanding	1,013,466		10,781,466
Convertible Preferred Stock Series A, shares authorized	300,000,000		300,000,000
Convertible Preferred Stock Series A, par value	$0.00		$0.00
Convertible Preferred Stock Series A, shares issued	905,000		585,000
Convertible Preferred Stock Series A, shares outstanding	905,000		585,000
Redeemable Preferred Stock [Member]
Convertible Preferred Stock Series A, shares authorized				320,000
Convertible Preferred Stock Series A, par value				$1
Friedman Financial Group, LLC [Member]
Stock issued during period for services, shares		9,250,000
Stock issued during period for services, value		$925
Jerry Kindrachuk [Member]
Stock issued during period for services, shares		500,000
Stock issued during period for services, value		50
Arkady Eric Rayz [Member]
Stock issued during period for services, shares		9,000
Stock issued during period for services, value		1
Robert Cornaglia [Member]
Stock issued during period for services, shares		9,000
Stock issued during period for services, value		$1

Common_and_Preferred_Stock_Sum

Common and Preferred Stock - Summary of Outstanding Common Stock Purchase Warrants Granted and Changes During Period (Details) (Warrant [Member], USD $)	9 Months Ended
	Mar. 31, 2015
Warrant [Member]
Shares Underlying Warrants, Outstanding and exercisable, Beginning balance	2,867
Shares Underlying Warrants, Additions
Shares Underlying Warrants, Outstanding and exercisable, Ending balance	2,867
Weighted Average exercise price, Outstanding and exercisable, Beginning	$0.20
Weighted Average exercise price, Additions
Weighted Average exercise price, Outstanding and exercisable, Ending	$0.20

Common_and_Preferred_Stock_Sch

Common and Preferred Stock - Schedule of Warrants Outstanding and Exercisable (Details) (Warrant [Member], USD $)	9 Months Ended
	Mar. 31, 2015	Jun. 30, 2014
Warrant [Member]
Shares Underlying Warrants, Outstanding and exercisable, Beginning balance	2,867	2,867
Warrants Outstanding and Exercisable, Exercise Price	$0.20	$0.20
Warrants Outstanding and Exercisable, Remaining contractual life (Years)	7 months 17 days

Loss_Per_Share_Summary_of_Pote

Loss Per Share - Summary of Potential Common Shares Excluded From Computation of Dilutive Net Loss Per Share (Details)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Convertible Preferred Stock [Member]
Potential common shares	175,500	271,500
Warrant [Member]
Potential common shares	2,867	2,867

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	0 Months Ended		1 Months Ended	9 Months Ended		0 Months Ended		3 Months Ended
	Mar. 26, 2013	Aug. 01, 2012	Jan. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Jul. 10, 2014	Dec. 29, 2014	Mar. 31, 2015	Jun. 30, 2014
Lease monthly payment		$2,500	$2,500
Security deposit
Rent expense				7,500	22,500
Minimum percentage of current loans recovery from sellers	70.00%
Percentage of current loans collected from sellers				70.00%				70.00%
Common stock par value				$0.00				$0.00	$0.00
Line of credit current limit				30,000				30,000
Line of credit amount due				33,138
Officer and related parties administrative expense
Subscription Agreements [Member]
Stock issued during period for services, shares						9,768,000
Common stock par value						$0.00
AAF And AFG [Member]
Due to sellers	102,250
Loans receivables, current	141,868
Loans receivables, non-current	323,449
Friedman Financial Group, LLC [Member]
Stock issued during period for services, shares						9,250,000
Amount provided in reimbursable services								18,838
Convertible Preferred Stock Series A, shares redeemed							320,000
Convertible Preferred Stock Series A, Redeemed price per share							$1
Arkady Eric Rayz [Member]
Stock issued during period for services, shares						9,000
Robert Cornaglia [Member]
Stock issued during period for services, shares						9,000
Jerry Kindrachuk [Member]
Stock issued during period for services, shares						500,000
Joseph Friedman & Sons [Member]
Amount provided in reimbursable services				$17,779
DJS Investments, LLC [Member]
Convertible Preferred Stock Series A, shares redeemed				17,909
Convertible Preferred Stock Series A, Redeemed price per share				$1				$1