Avangard Capital (AVGC) 10-Q 16 Nov 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2015	Nov. 11, 2015
Document And Entity Information
Entity Registrant Name	Avangard Capital Group, Inc
Entity Central Index Key	1,561,092
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,781,466
Trading Symbol	AVGC
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Current assets:
Cash	$ 1,305	$ 784
Due from related parties	5,024	5,024
Total current assets	6,329	5,808
Property and equipment, net	2,667	2,799
Total assets	8,996	8,607
Current liabilities:
Accounts payable and accrued expenses	35,166	25,350
Due to related party	35,000	25,000
Total current liabilities	70,166	50,350
Stockholders’ deficit
Convertible Preferred Stock Series A, $0.0001 par value, 300,000,000 authorized, 585,000 issued and outstanding;	58	58
Common stock, $0.0001 par value, 100,000,000 authorized; Class A, 10,781,466 shares issued and outstanding	1,078	1,078
Additional paid in capital	787,837	787,837
Accumulated deficit	(850,143)	(830,716)
Total stockholders’ deficit	(61,170)	(41,743)
Total liabilities and stockholders’ deficit	$ 8,996	$ 8,607

Condensed Balance Sheets (Unau3

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2015	Jun. 30, 2015
Statement of Financial Position [Abstract]
Convertible Preferred Stock Series A, par value	$ 0.0001	$ 0.0001
Convertible Preferred Stock Series A, shares authorized	300,000,000	300,000,000
Convertible Preferred Stock Series A, shares issued	585,000	585,000
Convertible Preferred Stock Series A, shares outstanding	585,000	585,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock Class A, shares issued	10,781,466	10,781,466
Common stock Class A, shares outstanding	10,781,466	10,781,466

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
REVENUE
Fee revenue
Total revenue
OPERATING EXPENSES
Selling, general and administrative	$ 19,428	$ 42,089
Total operating expenses	19,428	42,089
Loss from operations	$ (19,428)	(42,089)
Other income
Interest and dividend income		12
Total other income		12
Net loss	$ (19,428)	$ (42,077)
Net loss per share attributable to common shareholders - basic and diluted	$ 0	$ 0
Weighted average number of common shares used in computation - basic and diluted	10,781,466	9,719,727

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (19,428)	$ (42,077)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	$ 133	133
Changes in operating assets and liabilities:
Floor plan financing receivable		(704)
Due from related party		7,000
Accounts payable and accrued expenses	$ 9,816	(3,176)
NET CASH USED IN OPERATING ACTIVITIES	$ (9,479)	$ (38,794)
CASH FLOWS FROM INVESTING ACTIVITIES
NET CASH USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Due to related party	$ 10,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	10,000
Net increase (decrease) in cash	521	$ (38,824)
Cash, beginning of the period	784	424,272
Cash, at end of the period	$ 1,305	$ 385,448

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 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 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 currently 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 permitted 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 year ended June 30, 2015 we had repossessed 18 of 21 vehicles subject to the floor plan security arrangement. We recovered $123,425 of floor plan receivables through the sale of repossessed autos. At September 30, 2015 we have no inventory of repossessed autos. 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 quarter ended September 30, 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, 2015 filed with the SEC on October 13, 2015. 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 months 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. During the quarter ended September 30, 2015 the Company had no revenue. 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 September 30, 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. As of September 30, 2015 we recovered $123,425 of floor plan receivables through the sale of repossessed autos. We continue to pursue guarantors of the agreement through the Federal bankruptcy Courts. However, we are unable to determine the amount, if any, that we may recover. Inventory As of September 30, 2015 the Company has no inventory. Concentrations of Credit Risk The Company’s assets exposed to credit risk are cash and finance and interest receivables, of which there was none as of September 30, 2015. For the quarter ended September 30, 2015, the company had no revenue. The Company maintains its cash balances in Federal Deposit Insurance Corporation (“FDIC”) insured financial institutions. 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 a 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 quarter ended September 30, 2015.

Going Concern

Going Concern	3 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 2 - GOING CONCERN The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. During the quarter ended September 30, 2015 the Company recognized sales revenue of $-0- and incurred a net loss of $19,428. As of September 30, 2015 the Company had an accumulated deficit of $850,143. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company’s planned business. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from significant shareholders sufficient to meet its operating expenses and seeking equity and/or debt financing from third parties. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 3 - INCOME TAXES The net deferred tax asset consists of the following: September 30, 2015 June 30, 2015 Deferred Tax Asset $ 345,102 $ 314,841 Less: Valuation Allowance (345,102 ) (314,841 ) Net Deferred Tax Assets $ - $ - As of September 30, 2015, the Company has net operating loss carry forwards of $850,143 that can be utilized to offset future taxable income for Federal and State income tax purposes through 2025, generating a maximum deferred tax benefit of $345,102 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 - 2015 Commonwealth of Pennsylvania 2012 - 2015

Loan from Shareholder

Loan from Shareholder	3 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Loan from Shareholder	NOTE 4 - LOAN FROM SHAREHOLDER On May 1, 2015, the Company entered into a loan agreement with a major shareholder to obtain financing up to $50,000. Advances under the agreement are non-interest bearing and due on demand. At September 30, 2015, the amount due to the shareholder was $35,000, and unused amount representing availability to borrow was $15,000. Debt is secured by common stock of Avangard Capital Group, Inc.

Common and Preferred Stock

Common and Preferred Stock	3 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Common and Preferred Stock	NOTE 5 - 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, the Company completed a reverse stock split of our issued and outstanding common stock on a 1 for 10 basis (the “Reverse Stock Split”) . On July 10, 2014, the Board of Directors issued 9,768,000 unregistered shares of common stock to related parties and majority shareholder, Friedman Financial Group, in exchange for $977. As of September 30, 2015 the Company is authorized to issue 100,000,000 shares of $0.0001 par value common stock. The Company is 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. Common Stock Purchase Warrants A summary of the status of our outstanding common stock purchase warrants granted as of September 30, 2015 and changes during the period is as follows: Shares Weighted Underlying Average Warrants exercise price Outstanding and exercisable at June 30, 2015 2,867 $ 2.00 Additions - - Outstanding and exercisable at September 30, 2015 2,867 $ 2.00 The following information applies to all warrants outstanding and exercisable at September 30, 2015 Number of Warrants outstanding and Remaining contractual exercisable Exercise Price life (Years) 2,867 $ 2.00 0.33

Loss Per Share

Loss Per Share	3 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Loss Per Share	NOTE 6 - 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: September 30, 2015 September 30, 2014 Convertible preferred stock 1,755,000 2,715,000 Warrants attached to units sold 2,867 2,867

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 7 - 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. For the quarter ended September 30, 2015 CWL did not charge the Company for use of the facilities. No rent was accrued or paid during the first quarter ended September 30, 2015. Rent expense for the quarter ended September 30, 2015 and 2014 was $0 and $0 respectively. Friedman Financial Group, a related party, entered into a financial agreement with the Company to provide $50,000 for operating expenses. The advances bear no interest and is payable on demand. Friedman Financial Group has agreed to provide additional financing as required to pay necessary operating expenses. At September 30, 2015, the amount due to the shareholder was $35,000, and unused amount representing availability to borrow was $15,000. Debt is secured by common stock of Avangard Capital Group, Inc. On July 22, 2015, in a matter before the courts of Pennsylvania unrelated to Avangard Capital Group, Mr. Gulko, former officer and director of the Company agreed to a Stipulation and Consent Order with Avangard Auto Finance, Inc., a related party. The order settled claims by Avangard Auto Finance, Inc. against Mr. Gulko and his companies. In settlement of all claims Mr. Gulko agreed to relinquish all ownership of 490,000 shares of Common and 48,237 shares of Series A Convertible Preferred Stock. Avangard Auto Finance assigned the shares received in settlement to Friedman Financial Group, LLC on August 21, 2015. Amounts due from related parties of $5,024 represent legal expenses paid by the Company that are related to cases involving Avangard Auto Finance, Inc. and Commerce Way LLC. Officers and related parties of our Company provide certain administrative duties at no charge. At September 30, 2015, the Company had accounts payable to Friedman Financial Group of $11,758 for reimbursable expenses incurred on behalf of the Company.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8 - COMMITMENTS AND CONTINGENCIES From time to time, the Company is a defendant in various lawsuits incident to the ordinary course of business. It is not possible to determine, with any precision, the probable outcome of the amount of any liability not covered by commercial insurance policies. Additionally, on September 1, 2015, the major shareholder entered into an indemnity agreement with the Company to indemnity the Company of any liability arising from judgments related to repossessed vehicles.

Subsequent Events

Subsequent Events	3 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	NOTE 9 - SUBSEQUENT EVENTS There are no subsequent events.

Nature of Business and Summar15

Nature of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Organization and Description of Business	Organization and Description of Business 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 currently 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 permitted 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 year ended June 30, 2015 we had repossessed 18 of 21 vehicles subject to the floor plan security arrangement. We recovered $123,425 of floor plan receivables through the sale of repossessed autos. At September 30, 2015 we have no inventory of repossessed autos.
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 quarter ended September 30, 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, 2015 filed with the SEC on October 13, 2015.
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 months 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. During the quarter ended September 30, 2015 the Company had no revenue.
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 September 30, 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. As of September 30, 2015 we recovered $123,425 of floor plan receivables through the sale of repossessed autos. We continue to pursue guarantors of the agreement through the Federal bankruptcy Courts. However, we are unable to determine the amount, if any, that we may recover.
Inventory	Inventory As of September 30, 2015 the Company has no inventory.
Concentrations of Credit Risk	Concentrations of Credit Risk The Company’s assets exposed to credit risk are cash and finance and interest receivables, of which there was none as of September 30, 2015. For the quarter ended September 30, 2015, the company had no revenue. The Company maintains its cash balances in Federal Deposit Insurance Corporation (“FDIC”) insured financial institutions.
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 a 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 quarter ended September 30, 2015.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Asset	The net deferred tax asset consists of the following: September 30, 2015 June 30, 2015 Deferred Tax Asset $ 345,102 $ 314,841 Less: Valuation Allowance (345,102 ) (314,841 ) 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 - 2015 Commonwealth of Pennsylvania 2012 - 2015

Common and Preferred Stock (Tab

Common and Preferred Stock (Tables)	3 Months Ended
	Sep. 30, 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 September 30, 2015 and changes during the period is as follows: Shares Weighted Underlying Average Warrants exercise price Outstanding and exercisable at June 30, 2015 2,867 $ 2.00 Additions - - Outstanding and exercisable at September 30, 2015 2,867 $ 2.00
Schedule of Warrants Outstanding and Exercisable	The following information applies to all warrants outstanding and exercisable at September 30, 2015 Number of Warrants outstanding and Remaining contractual exercisable Exercise Price life (Years) 2,867 $ 2.00 0.33

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Summary of Potential Common Shares Excluded from Computation of Dilutive 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: September 30, 2015 September 30, 2014 Convertible preferred stock 1,755,000 2,715,000 Warrants attached to units sold 2,867 2,867

Nature of Business and Summar19

Nature of Business and Summary of Significant Accounting Policies (Details Narrative)	Mar. 26, 2013USD ($)	Mar. 31, 2014Vehicles	Jun. 30, 2015USD ($)Vehicles	Sep. 30, 2015USD ($)	Jun. 13, 2012USD ($)
Acquisition of floor plan financing portfolio					$ 151,979
Floor plan finance receivables				$ 0
Floor Plan Agreement [Member]
Total number of vehicles | Vehicles		21	21
Number of repossessed additional vehicles | Vehicles		18	18
Recovered vehicle loan investment			$ 123,425
Repossessed Autos [Member] | Floor Plan Agreement [Member]
Floor plan finance receivables				$ 123,425
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
Investment interest percentage	$ 20

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Sales revenue	$ 0
Net loss	(19,428)	$ (42,077)
Accumulated deficit	$ (850,143)		$ (830,716)

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Net operating loss carry forwards	$ 850,143
Future taxable income for federal and state income tax, year	through 2,025
Deferred tax benefits	$ 345,102	$ 314,841
Percentage of deferred tax assets valuation reserve	100.00%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Asset (Details) - USD ($)	Sep. 30, 2015	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Deferred Tax Asset	$ 345,102	$ 314,841
Less: Valuation Allowance	$ (345,102)	$ (314,841)
Net Deferred Tax Assets

Income Taxes - Schedule of Tax

Income Taxes - Schedule of Tax Years Remain Subject to Examination by Respective Tax Jurisdictions (Details)	12 Months Ended
	Jun. 30, 2015
Internal Revenue Service [Member]
Tax jurisdictions examination, years remaing	2012 - 2015
Commonwealth of Pennsylvania [Member]
Tax jurisdictions examination, years remaing	2012 - 2015

Loan from Shareholder (Details

Loan from Shareholder (Details Narrative) - USD ($)	Sep. 30, 2015	May. 01, 2015
Debt Disclosure [Abstract]
Loan from shareholder		$ 50,000
Amount due to shareholder	$ 35,000
Unused amount representing availability to borrow	$ 15,000

Common and Preferred Stock (Det

Common and Preferred Stock (Details Narrative) - USD ($)	Jul. 10, 2014	Jun. 20, 2014	Sep. 30, 2015	Jun. 30, 2015	Dec. 29, 2014
Reverse Stock Split		1 for 10 basis
Common stock, shares authorized			100,000,000	100,000,000
Common stock, par value			$ 0.0001	$ 0.0001
Convertible Preferred Stock Series A, shares authorized			300,000,000	300,000,000
Convertible Preferred Stock Series A, par value			$ 0.0001	$ 0.0001
Series A Convertible Preferred Stock [Member]
Redemption of preferred stock, shares					320,000
Redemption of preferred stock, price per share					$ 1
Friedman Financial Group [Member]
Issuance of unregistered value of common stock	9,768,000
Issuance of unregistered shares of common stock	$ 977

Common and Preferred Stock - Su

Common and Preferred Stock - Summary of Outstanding Common Stock Purchase Warrants Granted and Changes During Period (Details) - Warrant [Member]	3 Months Ended
	Sep. 30, 2015$ / sharesshares
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 | $ / shares	$ 2
Weighted Average exercise price, Additions | $ / shares
Weighted Average exercise price, Outstanding and exercisable, Ending | $ / shares	$ 2

Common and Preferred Stock - Sc

Common and Preferred Stock - Schedule of Warrants Outstanding and Exercisable (Details) - Warrant [Member] - $ / shares	3 Months Ended
	Sep. 30, 2015	Jun. 30, 2015
Number of Warrants outstanding and exercisable	2,867
Warrants Outstanding and Exercisable, Exercise Price	$ 2	$ 2
Warrants Outstanding and Exercisable, Remaining contractual life (Years)	3 months 29 days

Loss Per Share - Summary of Pot

Loss Per Share - Summary of Potential Common Shares Excluded from Computation of Dilutive Net Loss Per Share (Details) - shares	3 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Convertible Preferred Stock [Member]
Potential common shares	1,755,000	2,715,000
Warrants Attached To Units Sold [Member]
Potential common shares	2,867	2,867

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Aug. 01, 2012	Jan. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Lease monthly payment	$ 2,500
Security deposit
Rent expense		$ 2,500	$ 0	$ 0
Total operating expenses			19,428	42,089
Due from related parties			5,024		$ 5,024
Accounts payable recorded as reimbursement expenses				$ 11,758
Friedman Financial Group, LLC [Member]
Total operating expenses			50,000
Due to shareholder			35,000
Unused amount availability of borrowing			$ 15,000
Avangard Auto Finance Inc [Member] | Common Stock [Member]
Litigation settlement, received as shares			490,000
Avangard Auto Finance Inc [Member] | Series A Convertible Preferred Stock [Member]
Litigation settlement, received as shares			48,237