Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Sep. 30, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | Frontera Group Inc. | |
Entity Central Index Key | 1,602,813 | |
Document Type | 10-K | |
Document Period End Date | Jun. 30, 2017 | |
Amendment Flag | false | |
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 Public Float | $ 820,000 | |
Entity Common Stock, Shares Outstanding | 0 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2,017 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Current Assets: | ||
Cash | $ 7,825 | $ 9,000 |
Total current assets | 7,825 | 9,000 |
Total Assets | 7,825 | 9,000 |
Current Liabilities: | ||
Accounts payable | 12,200 | 5,600 |
Advance from officer | 10,713 | 4,698 |
Total current liabilities | 22,913 | 10,298 |
Total liabilities | 22,913 | 10,298 |
Commitments and Contingencies | ||
Stockholders' Deficit: | ||
Common stock par value $0.00001 per share: 1,000,000,000 shares authorized; 307,280,000 shares issued and outstanding at June 30, 2017 and June 30, 2016, respectively | 3,073 | 3,073 |
Additional paid-in capital | 115,975 | 105,975 |
Accumulated deficit | (134,136) | (110,346) |
Total Stockholders' (Deficit) | (15,088) | (1,298) |
Total Liabilities and Stockholders' (Deficit) | $ 7,825 | $ 9,000 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2017 | Jun. 30, 2016 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par Value | $ 0.00001 | $ 0.00001 |
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, Shares Issued | 307,280,000 | 307,280,000 |
Common Stock, Shares Outstanding | 307,280,000 | 307,280,000 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Income Statement [Abstract] | ||
Revenue | $ 2,000 | |
Cost of Revenue - related party | 1,050 | |
Gross Profit | 950 | |
Operating Expenses: | ||
Compensation-Officers | 4,350 | |
Professional Fees | 21,300 | 20,948 |
General and administrative expenses | 2,490 | 14,695 |
Total operating expenses | 23,790 | 39,993 |
Loss Before Income Tax Provision | (23,790) | (39,043) |
Income Tax Provision | ||
Net Loss | $ (23,790) | $ (39,043) |
Net Loss Per Common Share - Basic and Diluted | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding - Basic and Diluted | 307,280,000 | 97,890,410 |
STATEMENT OF CHANGES IN STOCKH
STATEMENT OF CHANGES IN STOCKHOLDERS' (DEFICIT) - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Balance Beginning at Jun. 30, 2015 | $ 73 | $ 44,927 | $ (71,303) | $ (26,303) |
Balance Beginning, in shares at Jun. 30, 2015 | 7,280,000 | |||
Common stock issued for cash | $ 3,000 | 6,000 | 9,000 | |
Common stock issued for cash, in shares | 300,000,000 | |||
Former shareholder debts converted into additional paid-in capital | 55,048 | 55,048 | ||
Net loss | (39,043) | (39,043) | ||
Balance Ending at Jun. 30, 2016 | $ 3,073 | 105,975 | (110,346) | (1,298) |
Balance Ending, in shares at Jun. 30, 2016 | 307,280,000 | |||
Former shareholder debts converted into additional paid-in capital | 10,000 | 10,000 | ||
Net loss | (23,790) | (23,790) | ||
Balance Ending at Jun. 30, 2017 | $ 3,073 | $ 115,975 | $ (134,136) | $ (15,088) |
Balance Ending, in shares at Jun. 30, 2017 | 307,280,000 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Operating Activities: | ||
Net loss | $ (23,790) | $ (39,043) |
Changes in Operating Assets and Liabilities: | ||
Decrease (increase) in Prepaid expenses | 9,167 | |
(Decrease) increase in Accounts payable and accrued expenses | 12,615 | (6,412) |
Increase in Accrued compensation - officers | 5,400 | |
Net Cash Used In Operating Activities | (11,175) | (30,888) |
Financing Activities: | ||
Proceeds from issuance of common stock | 9,000 | |
Capital contribution | 10,000 | 30,500 |
Net Cash Provided by Financing Activities | 10,000 | 39,500 |
Net Change in Cash | (1,175) | 8,612 |
Cash - Beginning of Period | 9,000 | 388 |
Cash - End of Period | 7,825 | 9,000 |
Supplemental Disclosure of Cash Flow Information: | ||
Interest paid | ||
Income tax paid | ||
Non-cash investing and financing activities | ||
Accounts payable and accrued expenses converted to additional paid-in capital | 3,848 | |
Accrued compensation - officers converted to additional paid-in capital | 20,700 | |
Advance from officer converted to additional paid-in capital | 30,500 | |
Accounts payable and accrued expenses transferred to advance from officer | $ 6,015 |
Organization and Operations
Organization and Operations | 12 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Operations | Note 1 – Organization and Operations Frontera Group Inc. (the “Company”) was incorporated under the laws of the State of Nevada on November 21, 2013, Frontera Group Inc. was an export management company providing business development and market consultancy services that assist small and medium-sized businesses in entering new markets in Central and South America. The Company currently has no operations and is a shell company. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 – Summary of Significant Accounting Policies Basis of Accounting and Presentation The accompanying financial statements have been prepared using the accrual basis in accordance with accounting principles generally accepted in the United States of America. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of June 30, 2017 and June 30, 2016, the Company does not have any cash equivalents. Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions 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 periods. Actual results could differ from those estimates. Earnings (loss) per Share Earnings (loss) Per Share is the amount of earnings (loss) attributable to each share of common stock. Earnings (loss) per share ("EPS") is computed pursuant to section 260-10-45 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification. Pursuant to Accounting Standards Codification (“ASC”) Paragraphs 260-10-45-10 through 260-10-45-16, basic EPS is computed by dividing net income (loss) available to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued during the period to reflect the potential dilution that could occur from common shares issuable through contingent shares issuance arrangements, stock options or warrants. When the Company has a loss, dilutive shares are not included as they would be antidilutive. There were no potentially dilutive debt or equity instruments issued and outstanding at any time during the year ended June 30, 2017 and 2016. Income Taxes The Company accounts for income taxes in accordance with the FASB ASC Section 740, “Income Taxes” (“ASC 740”), which requires the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income tax purposes. Deferred tax assets and liabilities represent the future tax consequences for those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred tax assets are also recognized for operating losses that are available to offset future taxable income. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company accounts for uncertain tax positions in accordance with ASC Section 740-10, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance also prescribes direction on de-recognition, classification, and accounting for interest and payables in the financial statements. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No interest or penalties have been recognized as of June 30, 2017 and 2016. The Company does not expect any significant changes in unrecognized tax benefits within twelve months of the reporting date. Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of ASC 820 “Fair Value Measurements and Disclosures” which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value as follows: ● Level 1 - quoted prices in active markets for identical assets or liabilities ● Level 2 - inputs other than quoted prices in active markets that are observable either directly or indirectly. ● Level 3 - inputs based on prices or valuation techniques that are both unobservable and significant to the fair value markets. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Carrying values of non-derivative financial instruments, including cash, accounts payable and advances from officier, approximated their fair value due to the short maturity of these financial instruments. There were no changes in methods or assumptions during the periods presented. Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, will have a material effect on the accompanying financial statements. |
Going Concern
Going Concern | 12 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Going Concern | Note 3 – Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company has a deficit of $134,136 at June 30, 2017, a net loss of $23,790 for the year ended June 30, 2017 and net cash used in operating activities of $11,175 for the year ended June 30, 2017. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company, with its agreements to provide management services (See Note 7), hopes to generate sufficient revenue; however, the Company’s cash position is not currently sufficient to support the Company’s operations and it is not known when or if the services will provide sufficient working capital. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering. Until such time, the Company will continue to be dependent on the availability of advances and/or additional capital contributions from its CEO. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary if the Company is unable to continue as a going concern. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 4 – Related Party Transactions Consulting services from President, Chief Executive Officer, Secretary and Treasurer and Chief Financial Officer Consulting services provided by the former President, Chief Executive Officer, Secretary and the former Treasurer and Chief Financial Officer for the year ended June 30, 2017 and 2016 were as follows: For the For the President, Chief Executive Officer $ — $ 3,000 Chief Financial Officer, Secretary — 2,400 $ — $ 5,400 (i) (i) During the year ended June 30, 2016, these related party consulting services were recognized in cost of revenues and officers’ compensation within operating expenses. Advances from President and CEO From time to time, the President, CEO and significant stockholder of the Company advances funds for working capital purposes. Those advances are unsecured, non-interest bearing and due on demand. As of June 30, 2017 and June 30, 2016, the advance balance was $10,713 and $4,698, respectively. Accrued Compensation Prior to January 2016, the former President and former Chief Financial Officer provided management consulting services to the Company. On February 1, 2014, we entered into consulting agreements with Michael Krichevcev, our former President, and Tatiana Varuha, our former Chief Financial Officer. These agreements were extended for the period from February 1, 2015 to January 31, 2016 on the same terms and conditions as the agreements dated February 1, 2014. In January 2016, when Michael Krichevcev and Tatiana Varuha were no longer the officers of the Company, the Company terminated the management consulting engagements with them. During the year ended June 30, 2017 and 2016, fee and expense incurred in management consulting services with the former President and former Chief Financial Officer of the Company was $0 and $5,400, respectively. |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Stockholders' Deficit | Note 5 – Stockholders’ (Deficit) Shares authorized Upon formation, the total number of shares of all classes of stock which the Company was authorized to issue seventy-five million (75,000,000) shares of common stock, par value $0.001 per share. On February 23, 2016, the Company increased its authorized common shares to one billion (1,000,000,000), and decreased the par value to $0.00001 per share. Common stock On March 12, 2016, the Company sold 300,000,000 common shares at $0.00003 per share for total proceeds of $9,000. The 300,000,000 shares of common stock were issued to Nanjing Dayu Xianneng Foods, Co, Ltd. The control person that Nanjing Dayu Xianneng Foods Co. Ltd is Mr. Daobing Xia. Change in Control On January 12, 2016, Mr. Michael Krichevcev, the Company’s Chief Executive Officer and Director, and Ms. Tatiana Varuha, the Company’s Chief Financial Officer and Director, sold all of their 4,000,000 shares of common stock of Frontera Group Inc. to Mr. Gan Ren. The 4,000,000 shares of common stock sold represented a majority of the total issued and outstanding common stock of the Company. As result of this share purchase transaction, Mr. Gan Ren became the controlling shareholder of the Company. In connection with this share purchase transaction, on January 12, 2016, Mr. Krichevcev and Ms. Varuha resigned from all positions they held in the Company, including Chief Executive Officer, Chief Financial Officer, President, Secretary, Treasurer, and Board Director. On January 12, 2016, Mr. Gan Ren became the President, Director, Secretary, Treasurer, Chief Executive Officer and Chief Financial Officer of the Company. On March 12, 2016, with the sale of 300,000,000 shares of common stock, Nanjing Dayu Xianneng Foods, Co, Ltd. is now the controlling shareholder of the Company. Mr. Gan Ren still remains the President, Director, Secretary, Treasurer, Chief Executive Officer and Chief Financial Officer of the Company. Forgiveness of Advances from Former Stockholders and Accrued Compensation – Former Officers On January 12, 2016, pursuant to the terms of their Stock Purchase Agreements, the former officers and stockholders forgave advances of $34,348 and accrued compensation of $20,700, respectively or $55,048 in aggregate. This amount was recorded as contributions to capital and recognized in additional paid in capital. |
Income Tax Provision
Income Tax Provision | 12 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax Provision | Note 6 – Income Tax Provision Deferred Tax Assets As of June 30, 2017 and 2016, the Company had net operating loss (“NOL”) carry–forwards for Federal income tax purposes of $134,136 and $110,346, respectively that may be offset against future taxable income which begin to expire in 2034. No tax benefit has been reported with respect to these net operating loss carry-forwards in the accompanying financial statements because the Company believes that the realization of the Company’s net deferred tax assets was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are fully offset by a full valuation allowance. In addition, due to the changes of controls of the Company on January 12, 2016 and March 12, 2016, the carry-forward losses generated through these dates will be significantly limited in their use. The provision (benefit) for income taxes consisted of the following for the years ended June 30, 2017 and 2016: 2017 2016 Current $ — $ — Deferred (9,516 ) (5,856 ) Change in valuation allowance 9,516 5,856 Income tax provision (benefit) $ — $ — Components of deferred tax assets are as follows: June 30, June 30, Net deferred tax assets – Non-current: Expected income tax benefit from NOL carry-forwards $ 26,067 $ 16,551 Less valuation allowance (26,067 ) (16,551 ) Deferred tax assets, net of valuation allowance $ — $ — The following table reconciles the effective income tax rates with the statutory rates for the years ended June 30: 2017 2016 U.S. federal statutory rate 34.0 % 15.0 % State and local taxes-net of federal benefit 6.0 % — Change in valuation allowance (40.0 ) (15.0 ) Effective income tax rate -% -% Deferred tax assets consist primarily of the tax effect of NOL carry-forwards. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realizability. We follow ASC 740 Accounting for Uncertainty in Income Taxes Our policy is to recognize potential interest and penalties accrued related to unrecognized tax benefits within income tax expense. For the years ended June 30, 2017 and 2016, we did not recognize any interest or penalties in our statement of operations, nor did we have any interest or penalties accrued in our balance sheet at June 30, 2017 and 2016 relating to unrecognized tax benefits. The tax years 2015 to 2017 remain open to examination for federal income tax purposes and by the other major taxing jurisdictions to which we are subject. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 7 – Subsequent Events On August 9, 2017, the Company entered into separate Operating Management Agreements with three Chinese companies including Nanjing Xingfeng Agriculture Ecology Co, Ltd., Guoyang Huadu Properties Co, Ltd., and Xingguo Red World Camellia Oil Co., Ltd. Under these operating management agreements, for the term of 10 years, the Company will serve as the consultant for these companies to manage their business operations. The services the Company is to provide includes advice and assistance relating to development of the general business operations; advice on investment, financing, acquisition, disposition and allocation of major assets; advice and assistance in relation to the staffing, including assistance in the recruitment and employment of management personnel, administrative personnel and staff; advice and assistance in relation to research and development and strategic planning. In addition, the Company has the right to acquire equity ownership in these companies during the term of these agreements. The Company will receive 20% of their post-tax net profit as annual compensation under the agreement. |
Summary of Significant Accoun14
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Accounting and Presentation The accompanying financial statements have been prepared using the accrual basis in accordance with accounting principles generally accepted in the United States of America. |
Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of June 30, 2017 and June 30, 2016, the Company does not have any cash equivalents. |
Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions | Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions 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 periods. Actual results could differ from those estimates. |
Earnings (loss) per Share | Earnings (loss) per Share Earnings (loss) Per Share is the amount of earnings (loss) attributable to each share of common stock. Earnings (loss) per share ("EPS") is computed pursuant to section 260-10-45 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification. Pursuant to Accounting Standards Codification (“ASC”) Paragraphs 260-10-45-10 through 260-10-45-16, basic EPS is computed by dividing net income (loss) available to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued during the period to reflect the potential dilution that could occur from common shares issuable through contingent shares issuance arrangements, stock options or warrants. When the Company has a loss, dilutive shares are not included as they would be antidilutive. There were no potentially dilutive debt or equity instruments issued and outstanding at any time during the year ended June 30, 2017 and 2016. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with the FASB ASC Section 740, “Income Taxes” (“ASC 740”), which requires the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income tax purposes. Deferred tax assets and liabilities represent the future tax consequences for those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred tax assets are also recognized for operating losses that are available to offset future taxable income. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company accounts for uncertain tax positions in accordance with ASC Section 740-10, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance also prescribes direction on de-recognition, classification, and accounting for interest and payables in the financial statements. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No interest or penalties have been recognized as of June 30, 2017 and 2016. The Company does not expect any significant changes in unrecognized tax benefits within twelve months of the reporting date. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of ASC 820 “Fair Value Measurements and Disclosures” which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value as follows: ● Level 1 - quoted prices in active markets for identical assets or liabilities ● Level 2 - inputs other than quoted prices in active markets that are observable either directly or indirectly. ● Level 3 - inputs based on prices or valuation techniques that are both unobservable and significant to the fair value markets. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Carrying values of non-derivative financial instruments, including cash, accounts payable and advances from officier, approximated their fair value due to the short maturity of these financial instruments. There were no changes in methods or assumptions during the periods presented. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, will have a material effect on the accompanying financial statements. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
Schedule of Consulting Fees for Related Party | For the For the President, Chief Executive Officer $ — $ 3,000 Chief Financial Officer, Secretary — 2,400 $ — $ 5,400 (i) |
Income Tax Provision (Tables)
Income Tax Provision (Tables) | 12 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision (benefit) for income taxes | 2017 2016 Current $ — $ — Deferred (9,516 ) (5,856 ) Change in valuation allowance 9,516 5,856 Income tax provision (benefit) $ — $ — |
Schedule of Deferred Tax Assets | June 30, June 30, Net deferred tax assets – Non-current: Expected income tax benefit from NOL carry-forwards $ 26,067 $ 16,551 Less valuation allowance (26,067 ) (16,551 ) Deferred tax assets, net of valuation allowance $ — $ — |
Schedule of effective income tax rates | 2017 2016 U.S. federal statutory rate 34.0 % 15.0 % State and local taxes-net of federal benefit 6.0 % — Change in valuation allowance (40.0 ) (15.0 ) Effective income tax rate -% -% |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Going Concern Details Narrative | ||
Deficit | $ 134,136 | $ 110,346 |
Net Loss | 23,790 | 39,043 |
Net Cash Used in Operating Activities | $ 11,175 | $ 30,888 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Accured Compensation for related parties | $ 5,400 | |
Former President, Chief Executive Officer [Member] | ||
Accured Compensation for related parties | 3,000 | |
Former Chief Financial Officer, Secretary and Treasurer [Member] | ||
Accured Compensation for related parties | $ 2,400 |
Stockholders' Deficit (Details
Stockholders' Deficit (Details Narrative) - $ / shares | Jun. 30, 2017 | Jun. 30, 2016 |
Equity [Abstract] | ||
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, Par Value | $ 0.00001 | $ 0.00001 |
Income Tax Provision (Details N
Income Tax Provision (Details Narrative) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Income Tax Disclosure [Abstract] | ||
Net Operating Loss Carryforward | $ 134,136 | $ 110,346 |
Income Tax Provision (Details)
Income Tax Provision (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Income Tax Expense (Benefit) | ||
Current | ||
Deferred | (9,516) | (5,856) |
Change in valuation Allowance | 9,516 | 5,856 |
Total |
Income Tax Provision (Details 2
Income Tax Provision (Details 2) - USD ($) | Jun. 30, 2017 | Jun. 30, 2016 |
Net deferred tax assets - Non-current: | ||
Expected income tax benefit from NOL carry-forwards | $ 26,067 | $ 16,551 |
Less valuation allowance | (26,067) | (16,551) |
Deferred tax assets, net of valuation allowance |
Income Tax Provision (Details 3
Income Tax Provision (Details 3) | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Effective Income tax rates with the statutory rates | ||
U.S. federal statutory rate | 34.00% | 15.00% |
State and local taxes-net of federal benefit | 6.00% | 0.00% |
Change in valuation allowance | (40.00%) | (15.00%) |
Effective income tax rate | 0.00% | 0.00% |