GL Brands (GRLB) 10-Q/A 15 Sep 15 2014 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2015	Sep. 01, 2015
Document And Entity Information
Entity Registrant Name	Freedom Leaf Inc.
Entity Central Index Key	1,581,545
Document Type	10-Q/A
Document Period End Date	Mar. 31, 2015
Amendment Flag	true
Current Fiscal Year End Date	--06-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		174,211,200
Amendment Description	Restated Financials
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,014

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2015	Jun. 30, 2014
Current assets
Cash	$ 234	$ 0
Accounts receivable	4,105	0
Other receivable	1,412	0
Prepaid expense	833	0
Total current assets	6,584	0
Intangible assets	3,998	0
Other assets	3,819	0
Total assets	14,401	0
Current liabilities
Accounts payable	2,179	0
Accounts payable to related parties	6,955	0
Accrued expenses	5,938	0
Deferred revenue	2,300	0
Total current liabilities	17,372	0
Long-term liabilities
Payable to related party	233,355	0
Total long-term liabilities	233,355	0
Total liabilities	$ 250,727	$ 0
Commitments and contingencies
Stockholders' equity
Common stock, $0.001 par value, 500,000,000 and 75,000,000 shares authorized, respectively, 174,181,200 and 0 shares issued, issuable, and outstanding at March 31, 2015 and June 30, 2014, respectively	$ 174,181	$ 0
Additional paid-in capital	(152,767)	0
Accumulated deficit	(258,040)	0
Total stockholders' equity	(236,326)	0
Total liabilities and stockholders' equity	$ 14,401	$ 0

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2015	Jun. 30, 2014
Statement of Financial Position [Abstract]
Common stock, par value	$ .001	$ .001
Common stock, shares authorized	500,000,000	75,000,000
Common stock, shares issued	174,181,200	90,000,000
Common stock, shares outstanding	174,181,200	90,000,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Revenue, net	$ 49,237	$ 0	$ 579,041	$ 0
Operating expenses
Direct costs of revenue	141,027	0	233,936	0
General and administrative	147,911	0	556,272	0
Marketing expense	1,182	0	46,873	0
Net loss	$ (240,883)	$ 0	$ (258,040)	$ 0
Net loss per share - basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding - basic and diluted	174,181,200	0	173,834,533	0

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	$ (258,040)	$ 0
Adjustments to reconcile net loss to net cash provided by operations:
Issuance of common stock for services	12,500	0
Changes in operating assets and liabilities:
Accounts receivable	(4,105)	0
Other receivable	(1,412)	0
Prepaid expense	(833)	0
Other assets	(3,819)	0
Accounts payable	2,179	0
Accounts payable to related parties	6,955	0
Accrued expenses	5,938	0
Deferred revenue	2,300	0
Net cash provided by operating activities	(238,337)	0
Cash flows used in investing activities
Acquisition of intangible assets	(3,998)	0
Net cash used in investing activities	(3,998)	0
Cash flows from financing activities:
Proceeds from related party	233,355	0
Net cash provided by financing activities	233,355	0
Net decrease in cash	(8,980)	0
Cash at beginning of period	0	0
Cash at end of period	$ 234	$ 0

1. Nature of Business, Presenta

1. Nature of Business, Presentation and Going Concern	9 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
1. Nature of Business, Presentation and Going Concern	Organization Freedom Leaf, Inc. (the “Company”) was incorporated in the State of Nevada on February 21, 2013, under the name of Arkadia International, Inc. The Company was originally engaged in the business of the acquisition of in demand equipment, cars, and goods with the intent to resale these in the U.S. or export to overseas countries. On October 3, 2014, the Company experienced a change in control. Richard C. Cowan acquired a majority of the issued and outstanding common stock of the Company in accordance with stock purchase agreements by and between Mr. Cowan, Vladimir and Galina Shekhtman (“Sellers”). On the closing date, October 3, 2014, pursuant to the terms of the Stock Purchase Agreement, Cowan purchased from the Sellers 6,950,100 shares of the Company’s outstanding restricted common stock for $100,000, representing 93%. On November 6, 2014, the Company merged with Freedom Leaf, Inc., a private Nevada corporation. The Company changed its name from Arkadia International, Inc., to Freedom Leaf, Inc. As a result of the merger, the private company was dissolved. See Note 3 for related discussion. On November 6, 2014, the Company changed its name, via merger in the state of Nevada, to Freedom Leaf, Inc. As of November 6, 2014, the Company has changed its course of business to the news, multi-media arts and entertainment industry, with both in print and online publications. For financial reporting purposes, the Share Exchange represents a "reverse merger" rather than a business combination and Private Company is deemed to be the accounting acquirer in the transaction. The Share Exchange is being accounted for as a reverse-merger and recapitalization. Private Company is the acquirer for financial reporting purposes and the Public Company (Freedom Leaf, Inc., f/k/a Arkadia International, Inc.) is the acquired company. Consequently, the assets and liabilities and the operations that will be reflected in the historical financial statements prior to the Share Exchange will be those of the Private Company and will be recorded at the historical cost basis of the Private Company, and the financial statements after completion of the Share Exchange will include the assets and liabilities of the Public Company and the Private Company, and the historical operations of Private Company and operations of both companies from the closing date of the Share Exchange. Basis of Presentation The accompanying unaudited financial statements of Freedom Leaf, Inc. have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. The results of operations for the interim period ended March 31, 2015 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2015. In the opinion of the Company’s management, the information contained herein reflects all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the Company’s results of operations, financial position and cash flows. The unaudited interim financial statements should be read in conjunction with the audited financial statements in the Company’s Form 10-K for the year ended June 30, 2014 filed on August 8, 2014 and Management’s Discussion and Analysis of Financial Condition and Results of Operations. Going Concern The accompanying unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company sustained net losses of $258,040 and used cash in operating activities of $238,337 for the nine months ended March 31, 2015. The Company had working capital deficit, stockholders’ deficiency and accumulated deficit of $10,788, $236,326 and $258,040, respectively, at March 31, 2015. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s continuation as a going concern is dependent upon its ability to generate revenues and its ability to continue receiving investment capital and loans from third parties to sustain its current level of operations. The Company is in the process of securing working capital from investors for common stock, convertible notes payable, and/or strategic partnerships. No assurance can be given that the Company will be successful in these efforts. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include the amortization period for intangible assets, valuation and impairment valuation of intangible assets, depreciable lives of the web site and property and equipment, valuation of warrants and beneficial conversion feature debt discounts, valuation of derivatives, valuation of share-based payments and the valuation allowance on deferred tax assets. Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported losses, total assets, or stockholders’ equity as previously reported. Development Stage Company Since inception, the Company became a “development stage company” as defined in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 915 “Development Stage Entities.” On June 10, 2014 the FASB issued authoritative guidance which eliminates the concept of a development stage entity. The incremental reporting requirements for presenting the development stage operations and cash flows since inception will no longer apply to development stage entities. The amendments of Topic 915 are to be applied retrospectively and are effective for fiscal years beginning after December 15, 2014. The Company has elected early adoption of this guidance effective with the filing of its previous quarterly report. On November 6, 2015, the Company merged with Freedom Leaf, Inc., a private Nevada corporation. The Company changed its name from Arkadia International, Inc., to Freedom Leaf, Inc. As a result of the merger, the private company was dissolved. See Note 3 for related discussion. Revenue Recognition The Company recognizes revenue for our services in accordance with ASC 605-10, “Revenue Recognition in Financial Statements.” Under these guidelines, revenue is recognized on transactions when all of the following exist: persuasive evidence of an arrangement did exist, delivery of service has occurred, the sales price to the buyer is fixed or determinable and collectability is reasonably assured. The Company has two primary revenue streams as follows: · Consulting services. · Advertising services. · Branding, marketing and selling products for companies. · Educational seminars. · Selling branded products. Net Earnings (Loss) Per Share In accordance with ASC 260-10, “Earnings Per Share,” basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period. Segment Information In accordance with the provisions of ASC 280-10, “Disclosures about Segments of an Enterprise and Related Information,” the Company is required to report financial and descriptive information about its reportable operating segments. The Company does not have any operating segments as of March 31, 2015 and 2014. Effect of Recent Accounting Pronouncements The Company reviews new accounting pronouncements as issued. No new pronouncements had any material effect on these unaudited financial statements. The accounting pronouncements issued subsequent to the date of these unaudited financial statements that were considered significant by management were evaluated for the potential effect on these unaudited financial statements. Management does not believe any of the subsequent pronouncements will have a material effect on these unaudited financial statements as presented and does not anticipate the need for any future restatement of these unaudited financial statements because of the retro-active application of any accounting pronouncements issued subsequent to September 30, 2014 through the date these unaudited financial statements were issued.

2. Stockholders' Equity (Defici

2. Stockholders' Equity (Deficit)	9 Months Ended
	Mar. 31, 2015
Equity [Abstract]
2. Stockholders' Equity (Deficit)	The Company was authorized to issue up to 75,000,000 shares of common stock, par value $0.001 per share. On November 3, 2014, the Company increased it’s authorized to 500,000,000 shares of common stock. Each outstanding share of common stock entitles the holder to one vote per share on all matters submitted to a stockholder vote. All shares of common stock are non-assessable and non-cumulative, with no pre-emptive rights. On November 3, 2014, the Company's Board of Directors declared a twelve for one forward stock split of all outstanding shares of the Company’s common stock. On November 6, 2014, the Company merged with Freedom Leaf, Inc., a private Nevada corporation (see Note 1). After the completion of the merger, there were 173,401,200 shares of common stock outstanding. On November 10, 2014, the Company issued 780,000 shares of common stock to Vincent Moreno for consulting services from November 10, 2014 through April 10, 2015. The Company’s stock is thinly traded therefore the valuation of the issuance was based on the value of the services, which was $12,500. The Company is amortizing the related expense over the term of the services. As of December 31, 2014, the stock has not been issued therefore is classified as issuable.

3. Intangible Assets

3. Intangible Assets	9 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
3. Intangible Assets	The Company has $3,998 recorded for various trademarks (Hemp Inspired®, Cannabizu®, and Cannabiz®) as of March 31, 2015.

4. Commitments and Contingencie

4. Commitments and Contingencies	9 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
4. Commitments and Contingencies	From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of its business. The Company is not currently a party to any material legal proceedings, nor is the Company aware of any other pending or threatened litigation that would have a material adverse effect on the Company’s business, operating results, cash flows or financial condition should such litigation be resolved unfavorably.

5. Restatement of Prior Period

5. Restatement of Prior Period Financial Statements	9 Months Ended
	Mar. 31, 2015
Restatement of Prior Year Income [Abstract]
5. Restatement of Prior Period Financial Statements	Balance Sheet, Statement of Operations and Statement of Cash Flows The Company restated its previously issued financial statements included in the original Quarterly Report on Form 10-Q for the nine months ended March 31, 2015 to reflect the effects of accounting and reporting errors resulting from a deficiency in its accounting and financial statement preparation process. This error and the related adjustments resulted in an understatement of net loss of $226,257 for the nine months ended March 31, 2015 and the understatement and overstatement of $14,401 and $138,475 of total assets and accumulated deficits, respectively, as of March 31, 2015. The revisions applied to the affected individual line items in the consolidated financial statements are as follows: In connection with the subsequent review of the Company’s financial statements for the period ended March 31, 2015, certain errors associated with the Company’s recognition of the merger of Arkadia International, Inc. with Freedom Leaf, Inc., effective November 6, 2014, resulted in the Company’s financial statements to be restated. The error related to the exclusion of the financials of Freedom Leaf, Inc., the private company, into the presented financial statements as filed. The following tables present the impact of the financial statement omission for the financials of Freedom Leaf, Inc., the private company, on the Company’s previously reported financial statements for the period ended March 31, 2015. Balance Sheet March 31, 2015 As previously reported Adjustments As restated ASSETS Current assets Cash $ – $ 234 $ 234 Accounts receivable – 4,105 4,105 Other receivable – 1,412 1,412 Prepaid expense – 833 833 Total current assets – 6,584 6,584 Intangible assets, net – 3,998 3,998 Other assets – 3,819 3,819 Total assets $ – $ 14,401 $ 14,401 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable $ – $ 2,179 $ 2,179 Accounts payable to related parties 22,569 (15,614 ) 6,955 Accrued expenses – 5,938 5,938 Deferred revenue – 2,300 2,300 Total current liabilities 22,569 (5,197 ) 17,372 Long-term liabilities Payable to related party – 233,355 233,355 Total long-term liabilities – 233,355 233,355 Total liabilities 22,569 228,158 250,727 Commitments and contingencies Stockholders' deficit Common stock 7,500 166,681 174,181 Additional paid-in capital 89,496 (242,263 ) (152,767 ) Accumulated deficit (119,565 ) (138,475 ) (258,040 ) Total stockholders' deficit (22,569 ) (213,757 ) (236,326 ) Total liabilities and stockholders' deficit $ – $ 14,401 $ 14,401 Statements of Operations For the three months ended For the nine months ended March 31, 2015 March 31, 2015 As previously reported Adjustments As restated As previously reported Adjustments As restated Revenue, net $ – $ 49,237 $ 49,237 $ – $ 579,041 $ 579,041 Operating expenses Direct costs of revenue – 141,027 141,027 – 233,936 233,936 General and administrative 22,569 125,342 147,911 31,783 524,489 556,272 Marketing expense – 1,182 1,182 – 46,873 46,873 Net loss $ (22,569 ) $ (218,314 ) $ (240,883 ) $ (31,783 ) $ (226,257 ) $ (258,040 ) Statements of Cash Flows For the Nine Months Ended March 31, 2015 As previously reported Adjustments As restated Cash flows from operating activities: Net loss $ (31,783 ) $ (226,257 ) $ (258,040 ) Adjustments to reconcile net loss to net cash used in operations: Issuance of common stock for services – 12,500 12,500 Changes in operating assets and liabilities: Accounts receivable – (4,105 ) (4,105 ) Other receivable (1,412 ) (1,412 ) Prepaid expense – (833 ) (833 ) Other assets – (3,819 ) (3,819 ) Accounts payable – 2,179 2,179 Accounts payable to related parties 22,569 (15,614 ) 6,955 Accrued expenses – 5,938 5,938 Deferred revenue – 2,300 2,300 Net cash used in operating activities (9,214 ) 3,998 (5,216 ) Cash flows provided by investing activities Intangible asset acquired – (3,998 ) (3,998 ) Net cash provided by investing activities – (3,998 ) (3,998 ) Cash flows from financing activities: Proceeds from related party – 233,355 233,355 Net cash provided by financing activities – 233,355 233,355 Net increase (decrease) in cash (9,214 ) 234 (8,980 ) Cash at beginning of period 9,214 – 9,214 Cash at end of period $ – $ 234 $ 234

6. Subsequent Events

6. Subsequent Events	9 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
6. Subsequent Events	The Company has evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission. The Company has determined that there are no other such events that warrant disclosure or recognition in the financial statements, except as stated herein. On April 15, 2015, the Company granted Jared Baker 30,000 shares of common stock for consulting services. The Company’s stock is thinly traded therefore the valuation was based on the value of the services, which was $2,500.

1. Nature of Business, Presen12

1. Nature of Business, Presentation and Going Concern (Policies)	9 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Freedom Leaf, Inc. (the “Company”) was incorporated in the State of Nevada on February 21, 2013, under the name of Arkadia International, Inc. The Company was originally engaged in the business of the acquisition of in demand equipment, cars, and goods with the intent to resale these in the U.S. or export to overseas countries. On October 3, 2014, the Company experienced a change in control. Richard C. Cowan acquired a majority of the issued and outstanding common stock of the Company in accordance with stock purchase agreements by and between Mr. Cowan, Vladimir and Galina Shekhtman (“Sellers”). On the closing date, October 3, 2014, pursuant to the terms of the Stock Purchase Agreement, Cowan purchased from the Sellers 6,950,100 shares of the Company’s outstanding restricted common stock for $100,000, representing 93%. On November 6, 2014, the Company merged with Freedom Leaf, Inc., a private Nevada corporation. The Company changed its name from Arkadia International, Inc., to Freedom Leaf, Inc. As a result of the merger, the private company was dissolved. See Note 3 for related discussion. On November 6, 2014, the Company changed its name, via merger in the state of Nevada, to Freedom Leaf, Inc. As of November 6, 2014, the Company has changed its course of business to the news, multi-media arts and entertainment industry, with both in print and online publications. For financial reporting purposes, the Share Exchange represents a "reverse merger" rather than a business combination and Private Company is deemed to be the accounting acquirer in the transaction. The Share Exchange is being accounted for as a reverse-merger and recapitalization. Private Company is the acquirer for financial reporting purposes and the Public Company (Freedom Leaf, Inc., f/k/a Arkadia International, Inc.) is the acquired company. Consequently, the assets and liabilities and the operations that will be reflected in the historical financial statements prior to the Share Exchange will be those of the Private Company and will be recorded at the historical cost basis of the Private Company, and the financial statements after completion of the Share Exchange will include the assets and liabilities of the Public Company and the Private Company, and the historical operations of Private Company and operations of both companies from the closing date of the Share Exchange.
Basis of Presentation	The accompanying unaudited financial statements of Freedom Leaf, Inc. have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. The results of operations for the interim period ended March 31, 2015 shown in this report are not necessarily indicative of results to be expected for the full fiscal year ending June 30, 2015. In the opinion of the Company’s management, the information contained herein reflects all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the Company’s results of operations, financial position and cash flows. The unaudited interim financial statements should be read in conjunction with the audited financial statements in the Company’s Form 10-K for the year ended June 30, 2014 filed on August 8, 2014 and Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Going Concern	Going Concern The accompanying unaudited financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company sustained net losses of $258,040 and used cash in operating activities of $238,337 for the nine months ended March 31, 2015. The Company had working capital deficit, stockholders’ deficiency and accumulated deficit of $10,788, $236,326 and $258,040, respectively, at March 31, 2015. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s continuation as a going concern is dependent upon its ability to generate revenues and its ability to continue receiving investment capital and loans from third parties to sustain its current level of operations. The Company is in the process of securing working capital from investors for common stock, convertible notes payable, and/or strategic partnerships. No assurance can be given that the Company will be successful in these efforts. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates in the accompanying financial statements include the amortization period for intangible assets, valuation and impairment valuation of intangible assets, depreciable lives of the web site and property and equipment, valuation of warrants and beneficial conversion feature debt discounts, valuation of derivatives, valuation of share-based payments and the valuation allowance on deferred tax assets.
Reclassifications	Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported losses, total assets, or stockholders’ equity as previously reported.
Development Stage Company	Since inception, the Company became a “development stage company” as defined in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 915 “Development Stage Entities.” On June 10, 2014 the FASB issued authoritative guidance which eliminates the concept of a development stage entity. The incremental reporting requirements for presenting the development stage operations and cash flows since inception will no longer apply to development stage entities. The amendments of Topic 915 are to be applied retrospectively and are effective for fiscal years beginning after December 15, 2014. The Company has elected early adoption of this guidance effective with the filing of its previous quarterly report. On November 6, 2015, the Company merged with Freedom Leaf, Inc., a private Nevada corporation. The Company changed its name from Arkadia International, Inc., to Freedom Leaf, Inc. As a result of the merger, the private company was dissolved. See Note 3 for related discussion.
Revenue Recognition	Revenue Recognition The Company recognizes revenue for our services in accordance with ASC 605-10, “Revenue Recognition in Financial Statements.” Under these guidelines, revenue is recognized on transactions when all of the following exist: persuasive evidence of an arrangement did exist, delivery of service has occurred, the sales price to the buyer is fixed or determinable and collectability is reasonably assured. The Company has two primary revenue streams as follows: · Consulting services. · Advertising services. · Branding, marketing and selling products for companies. · Educational seminars. · Selling branded products.
Net Earnings (Loss) Per Share	In accordance with ASC 260-10, “Earnings Per Share,” basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share are computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period.
Segment Information	In accordance with the provisions of ASC 280-10, “Disclosures about Segments of an Enterprise and Related Information,” the Company is required to report financial and descriptive information about its reportable operating segments. The Company does not have any operating segments as of March 31, 2015 and 2014.
Effect of Recent Accounting Pronouncements	The Company reviews new accounting pronouncements as issued. No new pronouncements had any material effect on these unaudited financial statements. The accounting pronouncements issued subsequent to the date of these unaudited financial statements that were considered significant by management were evaluated for the potential effect on these unaudited financial statements. Management does not believe any of the subsequent pronouncements will have a material effect on these unaudited financial statements as presented and does not anticipate the need for any future restatement of these unaudited financial statements because of the retro-active application of any accounting pronouncements issued subsequent to September 30, 2014 through the date these unaudited financial statements were issued.

5. Restatement of Prior Perio13

5. Restatement of Prior Period Financial Statements (Tables)	9 Months Ended
	Mar. 31, 2015
Restatement of Prior Year Income [Abstract]
Restatement of Prior Period	Balance Sheet March 31, 2015 As previously reported Adjustments As restated ASSETS Current assets Cash $ – $ 234 $ 234 Accounts receivable – 4,105 4,105 Other receivable – 1,412 1,412 Prepaid expense – 833 833 Total current assets – 6,584 6,584 Intangible assets, net – 3,998 3,998 Other assets – 3,819 3,819 Total assets $ – $ 14,401 $ 14,401 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable $ – $ 2,179 $ 2,179 Accounts payable to related parties 22,569 (15,614 ) 6,955 Accrued expenses – 5,938 5,938 Deferred revenue – 2,300 2,300 Total current liabilities 22,569 (5,197 ) 17,372 Long-term liabilities Payable to related party – 233,355 233,355 Total long-term liabilities – 233,355 233,355 Total liabilities 22,569 228,158 250,727 Commitments and contingencies Stockholders' deficit Common stock 7,500 166,681 174,181 Additional paid-in capital 89,496 (242,263 ) (152,767 ) Accumulated deficit (119,565 ) (138,475 ) (258,040 ) Total stockholders' deficit (22,569 ) (213,757 ) (236,326 ) Total liabilities and stockholders' deficit $ – $ 14,401 $ 14,401 Statements of Operations For the three months ended For the nine months ended March 31, 2015 March 31, 2015 As previously reported Adjustments As restated As previously reported Adjustments As restated Revenue, net $ – $ 49,237 $ 49,237 $ – $ 579,041 $ 579,041 Operating expenses Direct costs of revenue – 141,027 141,027 – 233,936 233,936 General and administrative 22,569 125,342 147,911 31,783 524,489 556,272 Marketing expense – 1,182 1,182 – 46,873 46,873 Net loss $ (22,569 ) $ (218,314 ) $ (240,883 ) $ (31,783 ) $ (226,257 ) $ (258,040 ) Statements of Cash Flows For the Nine Months Ended March 31, 2015 As previously reported Adjustments As restated Cash flows from operating activities: Net loss $ (31,783 ) $ (226,257 ) $ (258,040 ) Adjustments to reconcile net loss to net cash used in operations: Issuance of common stock for services – 12,500 12,500 Changes in operating assets and liabilities: Accounts receivable – (4,105 ) (4,105 ) Other receivable (1,412 ) (1,412 ) Prepaid expense – (833 ) (833 ) Other assets – (3,819 ) (3,819 ) Accounts payable – 2,179 2,179 Accounts payable to related parties 22,569 (15,614 ) 6,955 Accrued expenses – 5,938 5,938 Deferred revenue – 2,300 2,300 Net cash used in operating activities (9,214 ) 3,998 (5,216 ) Cash flows provided by investing activities Intangible asset acquired – (3,998 ) (3,998 ) Net cash provided by investing activities – (3,998 ) (3,998 ) Cash flows from financing activities: Proceeds from related party – 233,355 233,355 Net cash provided by financing activities – 233,355 233,355 Net increase (decrease) in cash (9,214 ) 234 (8,980 ) Cash at beginning of period 9,214 – 9,214 Cash at end of period $ – $ 234 $ 234

1. Nature of Business (Details

1. Nature of Business (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net income	$ (240,883)	$ 0	$ (258,040)	$ 0
Net cash provided by operating activities			(238,337)	$ 0
Working capital	10,788		10,788
Stockholders deficiency	(236,326)		(236,326)		$ 0
Accumulated deficit	$ (258,040)		$ (258,040)		$ 0

3. Intangible Assets (Details N

3. Intangible Assets (Details Narrative)	Mar. 31, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Trademarks	$ 3,998

5. Restatement of Prior Perio16

5. Restatement of Prior Period (Details - Balance sheet) - USD ($)	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2013
Current assets
Cash	$ 234	$ 0	$ 0	$ 0
Accounts receivable	4,105	0
Other receivable	1,412	0
Prepaid expense	833	0
Total current assets	6,584	0
Intangible assets	3,998	0
Other assets	3,819	0
Total assets	14,401	0
Current liabilities
Accounts payable	2,179	0
Accounts payable to related parties	6,955	0
Accrued expenses	5,938	0
Deferred revenue	2,300	0
Total current liabilities	17,372	0
Long-term liabilities
Payable to related party	233,355	0
Total long-term liabilities	233,355	0
Total liabilities	250,727	0
Stockholders' equity
Common stock	174,181	0
Additional paid-in capital	(152,767)	0
Accumulated deficit	(258,040)	0
Total stockholders' equity	(236,326)	0
Total liabilities and stockholders' equity	14,401	0
Scenario, Previously Reported [Member]
Current assets
Cash	0	9,214
Accounts receivable	0
Other receivable	0
Prepaid expense	0
Total current assets	0
Intangible assets	0
Other assets	0
Total assets	0
Current liabilities
Accounts payable	0
Accounts payable to related parties	22,569
Accrued expenses	0
Deferred revenue	0
Total current liabilities	22,569
Long-term liabilities
Payable to related party	0
Total long-term liabilities	0
Total liabilities	22,569
Stockholders' equity
Common stock	7,500
Additional paid-in capital	89,496
Accumulated deficit	(119,565)
Total stockholders' equity	(22,569)
Total liabilities and stockholders' equity	0
Scenario, Adjustment [Member]
Current assets
Cash	234	$ 0
Accounts receivable	4,105
Other receivable	1,412
Prepaid expense	833
Total current assets	6,584
Intangible assets	3,998
Other assets	3,819
Total assets	14,401
Current liabilities
Accounts payable	2,179
Accounts payable to related parties	(15,614)
Accrued expenses	5,938
Deferred revenue	2,300
Total current liabilities	(5,197)
Long-term liabilities
Payable to related party	233,355
Total long-term liabilities	233,355
Total liabilities	228,158
Stockholders' equity
Common stock	166,681
Additional paid-in capital	(242,263)
Accumulated deficit	(138,475)
Total stockholders' equity	(213,757)
Total liabilities and stockholders' equity	$ 14,401

5. Restatement of Prior Perio17

5. Restatement of Prior Period (Details - Operations) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Revenue, net	$ 49,237	$ 0	$ 579,041	$ 0
Operating expenses
Direct costs of revenue	141,027	0	233,936	0
General and administrative	147,911	0	556,272	0
Marketing and selling	1,182	0	46,873	0
Net income (loss)	$ (240,883)	$ 0	$ (258,040)	$ 0
Net income (loss) per share - basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding - basic and diluted	174,181,200	0	173,834,533	0
Scenario, Previously Reported [Member]
Revenue, net	$ 0		$ 0
Operating expenses
Direct costs of revenue	0		0
General and administrative	22,569		31,783
Marketing and selling	0		0
Net income (loss)	(22,569)		(31,783)
Scenario, Adjustment [Member]
Revenue, net	49,237		579,041
Operating expenses
Direct costs of revenue	141,027		233,936
General and administrative	125,342		524,489
Marketing and selling	1,182		46,873
Net income (loss)	$ (218,314)		$ (226,257)

5. Restatement of Prior Perio18

5. Restatement of Prior Period (Details - Cash Flow) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	$ (240,883)	$ 0	$ (258,040)	$ 0
Adjustments to reconcile net loss to net cash provided by (used in) operations:
Issuance of common stock for services			12,500	0
Changes in operating assets and liabilities:
Accounts receivable			(4,105)	0
Other receivable			(1,412)	0
Prepaid expense			(833)	0
Other assets			(3,819)	0
Accounts payable			2,179	0
Accounts payable to related parties			6,955	0
Accrued expenses			5,938	0
Deferred revenue			2,300	0
Net cash provided by (used in) operating activities			(238,337)	0
Cash flows used in investing activities
Acquisition of intangible assets			(3,998)	0
Net cash used in investing activities			(3,998)	0
Cash flows from financing activities:
Proceeds from related party			233,355	0
Net cash provided by financing activities			233,355	0
Net increase (decrease) in cash			(8,980)	0
Cash at beginning of period			0	0
Cash at end of period	234	$ 0	234	$ 0
Scenario, Previously Reported [Member]
Cash flows from operating activities:
Net loss	(22,569)		(31,783)
Adjustments to reconcile net loss to net cash provided by (used in) operations:
Issuance of common stock for services			0
Changes in operating assets and liabilities:
Accounts receivable			0
Other receivable			0
Prepaid expense			0
Other assets			0
Accounts payable			0
Accounts payable to related parties			22,569
Accrued expenses			0
Deferred revenue			0
Net cash provided by (used in) operating activities			(9,214)
Cash flows used in investing activities
Acquisition of intangible assets			0
Net cash used in investing activities			0
Cash flows from financing activities:
Proceeds from related party			0
Net cash provided by financing activities			0
Net increase (decrease) in cash			(9,214)
Cash at beginning of period			9,214
Cash at end of period	0		0
Scenario, Adjustment [Member]
Cash flows from operating activities:
Net loss	(218,314)		(226,257)
Adjustments to reconcile net loss to net cash provided by (used in) operations:
Issuance of common stock for services			12,500
Changes in operating assets and liabilities:
Accounts receivable			(4,105)
Other receivable			(1,412)
Prepaid expense			(833)
Other assets			(3,819)
Accounts payable			2,179
Accounts payable to related parties			(15,614)
Accrued expenses			5,938
Deferred revenue			2,300
Net cash provided by (used in) operating activities			(229,123)
Cash flows used in investing activities
Acquisition of intangible assets			(3,998)
Net cash used in investing activities			(3,998)
Cash flows from financing activities:
Proceeds from related party			233,355
Net cash provided by financing activities			233,355
Net increase (decrease) in cash			234
Cash at beginning of period			0
Cash at end of period	$ 234		$ 234