Legacy Ventures International (LGYV) 10-K 28 Sep 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Sep. 28, 2021	Sep. 30, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	LEGACY VENTURES INTERNATIONAL INC.
Entity Central Index Key	0001616788
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	10-K
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity File Number	333-199040
Is Entity a Shell Company?	false
Entity Small Business	true
Is Entity an Emerging Growth Company	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	NV
Entity Public Float			$ 500
Entity Common Stock, Shares Outstanding		315,064

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Current assets
Cash	$ 22,780	$ 15,136
Total assets	22,780	15,136
Current liabilities
Accounts payable and accrued liabilities	140,609	116,097
Secured promissory note	165,000	100,000
Convertible note	20,000	20,000
Interest payable	32,418	11,894
Advances from third parties	22,925	22,925
Total liabilities	380,952	270,916
Stockholders' deficiency
Preferred Stock, $0.0001 par value; 10,000,000 shares authorized: Preferred Stock - no shares issued and outstanding June 30, 2021, and June 30, 2020	0	0
Common Stock, $0.0001 par value; 100,000,000 shares authorized: Common Stock - 315,064 shares issued and outstanding June 30, 2021 and June 30, 2020	32	32
Additional paid in capital	6,394,771	6,394,771
Accumulated deficit	(6,752,975)	(6,650,583)
Total stockholders' deficiency	(358,172)	(255,780)
Total liabilities and stockholders' deficiency	$ 22,780	$ 15,136

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	315,064	315,064
Common stock, shares outstanding	315,064	315,064

Statements of Operations and Co

Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating expenses
Professional fees	$ 46,900	$ 50,410
Other general and administration	5,264	8,863
Loss from operations	(52,164)	(59,273)
Other (expenses) income
Interest expense - Convertible and Secured notes	(20,524)	(8,243)
Bank charges and other	(29,704)	(21,669)
Total other expenses	(50,228)	(29,912)
Loss before taxes	(102,392)	(89,185)
Net loss and comprehensive loss	$ (102,392)	$ (89,185)
Net loss per share - basic and diluted	$ (0.32)	$ (0.28)
Weighted average number of common shares outstanding - basic and diluted	315,064	315,064

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficiency) - USD ($)	Common Stock	Additional Paid-in Capital	Deficit	Total
Beginning balance at Jun. 30, 2019	$ 32	$ 6,394,771	$ (6,561,398)	$ (166,595)
Beginning balance, shares at Jun. 30, 2019	315,064
Net Loss			(89,185)	(89,185)
Ending balance at Jun. 30, 2020	$ 32	6,394,771	(6,650,583)	(255,780)
Ending balance, shares at Jun. 30, 2020	315,064
Net Loss			(102,392)	(102,392)
Ending balance at Jun. 30, 2021	$ 32	$ 6,394,771	$ (6,752,975)	$ (358,172)
Ending balance, shares at Jun. 30, 2021	315,064

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash used in operating activities
Net loss	$ (102,392)	$ (89,185)
Changes in non-cash operating assets and liabilities
Interest payable - Convertible notes	20,524	8,243
Accounts payable and accrued liabilities	24,512	33,333
Net cash used in operating activities	(57,356)	(47,609)
Cash flow from investing activities
Net cash used in investing activities	0	0
Cash flow from financing activities
Proceeds from secured convertible note	65,000	50,000
Net cash provided by financing activities	65,000	50,000
Increase in cash	7,644	2,391
Cash, beginning of year	15,136	12,745
Cash, end of year	22,780	15,136
Cash payments for Interest	0	0
Cash payments for Income taxes	$ 0	$ 0

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Legacy Ventures International, Inc. (“Legacy” or the “Company”), was incorporated on March 4, 2014 under the laws of the State of Nevada The Company currently has no ongoing operations except for the incurring of general and administrative expenditures. On August 9, 2018, the former holder of 91% of the outstanding shares of common stock of the Company, approved the appointment of Peter Sohn as the Chief Executive Officer and Chief Financial Officer and Director of the Company. Effective December 17, 2018, and Mr. Sohn accepted the appointments as Chief Executive Officer and Chief Financial Officer and Director of the Company. On December 17, 2018, the former of 91% of the outstanding shares of common stock of the Company delivered to Peter Sohn an agreement for the acquisition by Mr. Sohn of the Shares from Mr. Letcavage, which agreement is dated August 9, 2018, but was delivered and deemed effective on December 17, 2018 (the “Agreement”). As a result Mr. Sohn is now able to unilaterally control the election of our Board of Directors, all matters upon which shareholder approval is required and, ultimately, the direction of the Company. COVID-19 The outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and conditions of the Company in future periods.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Jun. 30, 2021
Going Concern [Abstract]
GOING CONCERN	2. GOING CONCERN The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. During the current year, the Company has incurred recurring losses from operations and as at June 30, 2021 has a working capital deficiency of $358,172 (2020 - $255,780), and an accumulated deficit of $6,752,975 (2020 - $6,650,583). The Company’s continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. These conditions raise substantial doubt about the Company ability to continue as a going concern. There can be no assurance that the necessary debt or equity financing will be available, or will be available on terms acceptable to the Company, in which case the Company may be unable to meet its obligations. Should the Company be unable to realize its assets and discharge its liabilities in the normal course of business, the net realizable value of its assets may be materially less than the amounts recorded in the financial statements. The financial statements do not include any adjustments relating to the recoverability of recorded asset amounts that might be necessary should the Company be unable to continue in existence.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in United States dollars (“USD”). The Company’s fiscal year-end is June 30. The Company’s functional currency is USD and the Company’s reporting currency is USD. Cash Cash includes cash on hand and balances with banks or with third parties. Loss Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted loss per share reflect the potential dilution of securities that could share in the loss of an entity. Diluted loss per share exclude all potentially dilutive shares if their effect is anti-dilutive. All dilutive common share equivalents were anti-dilutive for the years ended June 30, 2021 and 2020. Foreign Currency Translation The Company’s functional currency is USD. The Company’s reporting currency is USD. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net income (loss) for the year. Fair Value of Financial Instruments ASC Topic 820 “ Fair Value Measurements and Disclosures Level 1 - Valuation based on quoted market prices in active markets for identical assets or liabilities. Level 2 - Valuation based on quoted market prices for similar assets and liabilities in active markets. Level 3 - Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Income Taxes The Company accounts for income taxes under ASC Topic 740 Accounting for Income Taxes. The Company provides for federal and provincial income taxes payable, as well as for those deferred because of the timing differences between reporting income and expenses for financial statement purposes versus tax purposes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The effect of a change in tax rates is recognized as income or expense in the period of the change. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount that is more likely than not to be realized. The Company adopted the FASB guidance concerning accounting for uncertainty in income taxes, which clarifies the accounting and disclosure for uncertainty in tax positions, as of July 1, 2017. The guidance requires that the Company determine whether it is more likely than not that a tax position will not be sustained upon examination by the appropriate taxing authority. If a tax position does not meet the more likely than not recognition criterion, the guidance requires that the tax position be measured at the largest amount of benefit greater than 50 percent not likely of being sustained upon ultimate settlement. Based on the Company’s evaluation, management has concluded that there are no significant uncertain tax positions requiring recognition in the financial statements. Interest and penalties are recorded in bank and other charges in the statement of operations and comprehensive loss and accounts payable and accrued liabilities in the balance sheets. The Company has reviewed the new pronouncements from FASB, however, none of the recent accounting pronouncements have an impact on the Company.

BASIC AND DILUTED NET LOSS PER

BASIC AND DILUTED NET LOSS PER SHARE	12 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
BASIC AND DILUTED NET LOSS PER SHARE	4. BASIC AND DILUTED NET LOSS PER SHARE The Company follows ASC Topic 260 to account for the loss per share. Basic loss per common share ("EPS") calculations are determined by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted loss per common share calculations are determined by dividing net loss by the weighted average number of common shares and dilutive common share equivalents (if dilutive) outstanding. All dilutive common share equivalents were anti-dilutive for the years ended June 30, 2021 and 2020.

SECURED PROMISSORY AND CONVERTI

SECURED PROMISSORY AND CONVERTIBLE PROMISSORY NOTES	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
SECURED PROMISSORY AND CONVERTIBLE PROMISSORY NOTES	5. SECURED PROMISSORY AND CONVERTIBLE PROMISSORY NOTES Secured Promissory Note On December 2, 2018, the Company issued a Secured Promissory Note ("Secured Note") to an accredited investor. The Secured Note has an aggregate principal amount of $50,000, and is payable on December 2, 2019 (the "Maturity Date"), and bears an interest rate of 4% per annum and a default interest rate of 18%. The amount owing under the Secured Note is secured by the assets of the Company. The Secured Note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the year ended June 30, 2021 was $9,486 (June 30, 2020 -$6,039). On September 6, 2019, the Company issued a Secured Promissory Note ("Secured Note") to an accredited investor. The Secured Note has an aggregate principal amount of $50,000, and is payable on September 6, 2020 (the "Maturity Date"), and bears an interest rate of 4% per annum and a default interest rate of 18%. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the year ended June 30, 2021 was $8,134 (June 30, 2020 - $1,280). On October 1, 2020, the Company issued a Secured Promissory Note ("Secured Note") to an accredited investor. The Secured Note has an aggregate principal amount of $65,000, and is payable on October 1, 2021, (the "Maturity Date"), and bears an interest rate of 4% per annum and a default interest rate of 18%. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the year ended June 30, 2021 was $1,944 (June 30, 2020 - $nil). Unsecured Convertible Promissory Notes On June 28, 2017 the Company issued $20,000 of unsecured convertible promissory notes (“Convertible Notes”). The notes were assigned to 5 different arm’s length parties, each holding $4,000. The Convertible Notes matured on June 27, 2018, and bear interest at a rate of 8% per annum, and 12% for amounts owing past the default date. The Convertible Notes are convertible into the Common Stock of the Company at a fixed conversion rate of $0.75 per share at any time prior to the maturity date. The Company evaluated the terms and conditions of the Convertible Notes under the guidance of ASC 815, Derivatives and Hedging. The conversion feature met the definition of conventional convertible for purposes of applying the conventional convertible exemption. The definition of conventional contemplates a limitation on the number of shares issuable under the arrangement. The instrument was convertible into a fixed number of shares and there were no down round protection features contained in the contracts. The Company was required to consider whether the hybrid contracts embodied a beneficial conversion feature (“BCF”). The calculation of the effective conversion amount resulted in a BCF because the fair value of the conversion was greater than the Company’s stock price on the date of issuance and a BCF was recorded in the amount of $20,000 and accordingly the amount of $20,000 was credited to Additional Paid in Capital. The BCF which represents debt discount is accreted over the life of the loan using the effective interest rate. Interest expense for the year ended June 30, 2021 was $960 (June 30, 2020 - $924). As at June 30, 2021, the carrying value of the Convertible Note was $20,000. No amounts have been paid to date for the above mentioned notes, nor have any of the notes been called or converted.

ADVANCES AND BALANCES, AND ADVA

ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES	12 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES	6. ADVANCES FROM THIRD PARTIES AND RELATED PARTY TRANSACTIONS The Company was previously advanced funds by a third party, the funds were used to pay certain professional fees including auditors, and accountants. The Company is currently in the process of negotiating with the third party with respect to settlement of the amount advanced. There are no prescribed terms of repayment or rate of interest on the advances. For the years ended June 30, 2021, and 2020, the Company’s sole Director and Officer, earned fees of $12,000, respectively. The Company did not pay any other form of compensation to the Company’s sole Officer. There were no other related party transactions. As at June 30, 2021, the Company had a balance of $14,750 (2020 - $6,000) included in accounts payable and accrued liabilities due to the Company’s sole Officer.

STOCKHOLDERS' DEFICIENCY

STOCKHOLDERS' DEFICIENCY	12 Months Ended
	Jun. 30, 2021
Equity [Abstract]
STOCKHOLDERS' DEFICIENCY	7. STOCKHOLDERS’ DEFICIENCY COMMON AND PREFERRED STOCK - AUTHORIZED As at June 30, 2021 and 2020, the Company was authorized to issue 10,000,000 of preferred stock, with a par value of $0.0001 and 100,000,000 shares of common stock, with a par value of $0.0001. COMMON STOCK - ISSUED AND OUTSTANDING There were no common stock transactions for the years ended June 30, 2021 and 2020. At June 30, 2021 and 2020, there were 315,064 shares of common stock issued and outstanding.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	8. INCOME TAXES Income taxes The provision for income taxes differs from that computed at the corporate tax rate of approximately 21% (2020-21%) as follows: 2021 2020 Net loss before income taxes $ (102,392 ) $ (89,185 ) Expected income tax recovery at statutory rates (21,500 ) (18,729 ) Tax rate and other adjustments — — Tax effect of non-deductible expenses (6,300 ) (4,200 ) Change in valuation allowance 15,200 14,529 Provision for (benefit from) income taxes $ — $ — Deferred tax assets Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Net deferred tax assets consist of the following components as of June 30, 2021 and 2020: 2021 2020 Deferred tax assets (non-current): Net operating loss $ 296,660 $ 281,461 296,660 281,461 Valuation allowance (296,660 ) (281,461 ) Net deferred tax assets $ — $ — At June 30, 20121 the Company had U.S. non-capital income tax losses of $51,230 which can be carried forward indefinitely. Prior year U.S non-capital income tax losses expire as follows: 2034 $ 107,770 2035 494,050 2036 33,560 2037 552,870 Indefinitely 224,430 $ 1,412,680 During the year ended June 20, 2021, and 2020, the Company recognized $30,000 and $20,000, respectively in interest and penalties and has an accrual provision for interest and penalties of $90,200 (June 30, 2020 - $60,200). The Company has the six most recent tax year ends not assessed.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	9. SUBSEQUENT EVENTS On August 13, 2021, the Company issued a Secured Promissory Note ("Secured Note") to an accredited investor. The Secured Note has an aggregate principal amount of $40,000, and is payable on August 13, 2022, (the "Maturity Date"), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted, the terms of which are to be negotiated between the Company and the note holder. No events occurred requiring disclosure under Item 307 and 308 of Regulation S-K during the fiscal year ended June 30, 2021.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and are expressed in United States dollars (“USD”). The Company’s fiscal year-end is June 30. The Company’s functional currency is USD and the Company’s reporting currency is USD.
Cash	Cash Cash includes cash on hand and balances with banks or with third parties.
Loss Per Share	Loss Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted loss per share reflect the potential dilution of securities that could share in the loss of an entity. Diluted loss per share exclude all potentially dilutive shares if their effect is anti-dilutive. All dilutive common share equivalents were anti-dilutive for the years ended June 30, 2021 and 2020.
Foreign Currency Translation	Foreign Currency Translation The Company’s functional currency is USD. The Company’s reporting currency is USD. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net income (loss) for the year.
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC Topic 820 “ Fair Value Measurements and Disclosures Level 1 - Valuation based on quoted market prices in active markets for identical assets or liabilities. Level 2 - Valuation based on quoted market prices for similar assets and liabilities in active markets. Level 3 - Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.
Income Taxes	Income Taxes The Company accounts for income taxes under ASC Topic 740 Accounting for Income Taxes. The Company provides for federal and provincial income taxes payable, as well as for those deferred because of the timing differences between reporting income and expenses for financial statement purposes versus tax purposes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The effect of a change in tax rates is recognized as income or expense in the period of the change. A valuation allowance is established, when necessary, to reduce deferred income tax assets to the amount that is more likely than not to be realized. The Company adopted the FASB guidance concerning accounting for uncertainty in income taxes, which clarifies the accounting and disclosure for uncertainty in tax positions, as of July 1, 2017. The guidance requires that the Company determine whether it is more likely than not that a tax position will not be sustained upon examination by the appropriate taxing authority. If a tax position does not meet the more likely than not recognition criterion, the guidance requires that the tax position be measured at the largest amount of benefit greater than 50 percent not likely of being sustained upon ultimate settlement. Based on the Company’s evaluation, management has concluded that there are no significant uncertain tax positions requiring recognition in the financial statements. Interest and penalties are recorded in bank and other charges in the statement of operations and comprehensive loss and accounts payable and accrued liabilities in the balance sheets. The Company has reviewed the new pronouncements from FASB, however, none of the recent accounting pronouncements have an impact on the Company.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	The provision for income taxes differs from that computed at the corporate tax rate of approximately 21% (2020-21%) as follows: 2021 2020 Net loss before income taxes $ (102,392 ) $ (89,185 ) Expected income tax recovery at statutory rates (21,500 ) (18,729 ) Tax rate and other adjustments — — Tax effect of non-deductible expenses (6,300 ) (4,200 ) Change in valuation allowance 15,200 14,529 Provision for (benefit from) income taxes $ — $ —
Schedule of net deferred tax assets	The provision for income taxes differs from that computed at the corporate tax rate of approximately 21% (2020-21%) as follows: 2021 2020 Net loss before income taxes $ (102,392 ) $ (89,185 ) Expected income tax recovery at statutory rates (21,500 ) (18,729 ) Tax rate and other adjustments — — Tax effect of non-deductible expenses (6,300 ) (4,200 ) Change in valuation allowance 15,200 14,529 Provision for (benefit from) income taxes $ — $ —
Schedule of income tax losses expire	Net deferred tax assets consist of the following components as of June 30, 2021 and 2020: 2021 2020 Deferred tax assets (non-current): Net operating loss $ 296,660 $ 281,461 296,660 281,461 Valuation allowance (296,660 ) (281,461 ) Net deferred tax assets $ — $ —

NATURE OF OPERATIONS (Details N

NATURE OF OPERATIONS (Details Narrative) - Peter Sohn [Member]	Dec. 17, 2018	Aug. 09, 2018
Percentage of common stock approved		91.00%
Percentage of outstanding shares acquired	91.00%

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Going Concern [Abstract]
Working capital	$ (358,172)	$ (255,780)
Accumulated deficit	$ (6,752,975)	$ (6,650,583)

BASIC AND DILUTED NET LOSS PE_2

BASIC AND DILUTED NET LOSS PER SHARE (Details Narrative) - shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0

SECURED PROMISSORY AND CONVER_2

SECURED PROMISSORY AND CONVERTIBLE PROMISSORY NOTES (Details Narrative) - USD ($)	Oct. 01, 2020	Dec. 02, 2018	Sep. 06, 2019	Jun. 28, 2017	Jun. 30, 2021	Jun. 30, 2020
Common stock, par value					$ 0.0001	$ 0.0001
Additional Paid-in Capital
Beneficial Conversion Feature					$ 20,000
Secured Promissory Note [Member]
Interest expense					1,944	$ 0
Secured Promissory Note [Member] | Accredited investor [Member]
Aggregate principal amount	$ 65,000	$ 500,000	$ 50,000
Maturity date	Oct. 1, 2021	Dec. 2, 2019	Sep. 6, 2020
Interest rate	4.00%	4.00%	4.00%
Default interest rate	18.00%	18.00%	18.00%
Interest expense					9,486	6,039
Secured Promissory Note [Member] | Accredited investor [Member]
Interest expense					8,134	1,280
Unsecured Convertible Promissory Notes [Member]
Aggregate principal amount				$ 20,000
Maturity date				Jun. 27, 2018
Interest rate				8.00%
Interest expense					960	$ 924
Conversion Price				$ 0.75
Carrying value of convertible note					$ 20,000

ADVANCES AND BALANCES, AND AD_2

ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Due to Officer	$ 14,750	$ 6,000
Director And Officer [Member]
Related Parties fees	$ 12,000	$ 12,000

STOCKHOLDERS_ DEFICIENCY (Detai

STOCKHOLDERS’ DEFICIENCY (Details Narrative) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
Equity [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	315,064	315,064
Common stock, shares outstanding	315,064	315,064

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Net loss before income taxes	$ (102,392)	$ (89,185)
Expected income tax recovery at statutory rates	(21,500)	(18,729)
Tax rate and other adjustments	0	0
Tax effect of non-deductible expenses	(6,300)	(4,200)
Change in valuation allowance	15,200	14,529
Provision for (benefit from) income taxes	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Deferred tax assets (non-current):
Net operating loss	$ 296,660	$ 281,461
Total NOL carryforwards	296,660	281,461
Valuation allowance	(296,660)	(281,461)
Net deferred tax assets	$ 0	$ 0

INCOME TAXES (Details 2)

INCOME TAXES (Details 2)	Jun. 30, 2021USD ($)
Net operating loss carry forwards	$ 1,412,680
2034
Net operating loss carry forwards	107,770
2035
Net operating loss carry forwards	494,050
2036
Net operating loss carry forwards	33,560
2037
Net operating loss carry forwards	552,870
Indefinitely
Net operating loss carry forwards	$ 224,430

INCOME TAXES (Details Narrativ

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Corporate tax rate	21.00%	21.00%
Non-capital income tax losses	$ 51,230
Interest and penalties	30,000	$ 20,000
Accrual provision for interest and penalties	$ 90,200	$ 60,200

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - Secured Note [Member] - Accredited investor [Member]	Aug. 13, 2021USD ($)
Aggregate principal amount	$ 40,000
Interest rate	4.00%
Default interest rate	18.00%
Maturity date	Aug. 13, 2022