Legacy Ventures International (LGYV) 10-Q 15 May 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Mar. 31, 2017shares
Document and Entity Information [Abstract]
Entity Registrant Name	LEGACY VENTURES INTERNATIONAL INC.
Entity Central Index Key	1,616,788
Trading Symbol	LGYV
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	65,064

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
CURRENT ASSETS
Cash	$ 7,377	$ 2,993
Accounts and other receivable, net of allowance (Note 5)		264,880
Inventories		78,891
Harmonized sales tax recoverable		24,071
Total current assets	7,377	370,835
TOTAL ASSETS	7,377	370,835
CURRENT LIABILITIES
Accounts payable and accrued liabilities (Note 6)	19,167	326,476
Due to stockholders (Note 7)	46,183	19,455
Due to related parties (Note 10)		60,145
Notes payable (Note 8)		51,794
Total current liabilities	65,350	457,870
TOTAL LIABILITIES	65,350	457,870
STOCKHOLDERS' DEFICIENCY
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no share issued and outstanding as at March 31, 2017 and June 30, 2016 (Note 9)
Common stock, $0.0001 par value, 100,000,000 shares authorized, 65,064 common shares issued and outstanding as at March 31, 2017 (June 30, 2016 - 29,527 common shares) (Note 9)	7	3
Additional pain-in-capital	4,124,797	3,769,431
Accumulated other comprehensive loss (Note 4)		22,867
Accumulated deficit	(4,182,777)	(3,879,336)
Total stockholders' deficiency	(57,973)	(87,035)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$ 7,377	$ 370,835

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2017	Jun. 30, 2016
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
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	65,064	29,527
Common stock, shares outstanding	65,064	29,527

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
REVENUE		$ 79,074	$ 74,042	$ 116,492
COST OF SALES		31,302	50,665	84,129
GROSS PROFIT		47,772	23,377	32,363
OPERATING EXPENSES
Professional fees	4,285	523,746	41,142	1,144,981
Management fees (Note 10)		47,626	369,194	101,541
General expenses	93	15,404	(374)	53,427
TOTAL OPERATING LOSS	(4,378)	(539,004)	(386,585)	(1,267,586)
OTHER (INCOME) EXPENSES
Net gain due to loss of control in subsidiary (Note 4)			(84,021)
Impairment of goodwill				1,394,135
Interest and bank charges	79	1,739	877	5,604
Amortization expense		23,450		46,900
Forgiveness of loan				(17,974)
NET LOSS BEFORE INCOME TAXES	(4,457)	(564,193)	(303,441)	(2,696,251)
Income taxes
NET LOSS	(4,457)	(564,193)	(303,441)	(2,696,251)
Foreign currency translation adjustment		7,025		21,128
COMPREHENSIVE LOSS	$ (4,457)	$ (557,168)	$ (303,441)	$ (2,675,123)
Loss per share, basic and diluted	$ (0.07)	$ (19.32)	$ (6.11)	$ (73.68)
Weighted average number of common stock outstanding, basic and diluted	65,064	29,202	49,630	36,592

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) for the period	$ (303,441)	$ (2,696,251)
Adjustments to reconcile net loss to net cash used in operations:
Net gain due to loss of control in subsidiary (Note 4)	(84,021)
Impairment of goodwill		1,394,135
Issuance of shares for services	355,370	954,077
Amortization expense		46,900
Forgiveness of loan		(17,974)
Changes in operating assets and liabilities:
Accounts receivable		(208,167)
Inventories		(14,472)
Hamonized sales tax recoverable		(18,962)
Prepaid expenses		1,942
Due to related parties		40,248
Accounts payable		205,894
Accrued expenses	2,219	4,176
Net cash used in operating activities	(29,873)	(308,454)
INVESTING ACTIVITIES
Cash acquired on acquisition		3,671
Net cash provided by investing activities		3,671
CASH FLOWS FROM FINANCING ACTIVITIES
Due to stockholders	34,257	(27,264)
Proceeds from issuance of common stock		150,000
Proceeds from issuance of convertible note		180,000
Net cash provided by financing activities	34,257	302,736
Net increase in cash during the year/period	4,384	(2,047)
Effect of foreign currency translation		14,994
Cash, beginning of the period	2,993	3,380
Cash, end of the period	$ 7,377	$ 16,327

Nature of Operations

Nature of Operations	9 Months Ended
	Mar. 31, 2017
Nature of Operations [Abstract]
NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Legacy Ventures International, Inc. (the “Company”) is a Management Company incorporated on March 4, 2014 in the State of Nevada. Upon its acquisition of RM Fresh Brands Inc. (formerly Influx Global Media Inc.) [“RM Fresh”], it was engaged in the food and beverage distribution business whose principal place of business is located at 2215-B Renaissance Drive, Las Vegas, Nevada, 89119 USA. On September 30, 2015 (the “Closing”), the Company entered into a Share Exchange Agreement (the “Agreement”) with and among RM Fresh and its stockholders. Pursuant to the Agreement, the Company acquired 100% of the issued and outstanding shares of RM Fresh in exchange for the issuance of 2,000,000 of the Company’s common stock. As a result of this transaction, RM Fresh became a wholly owned subsidiary of the Company and the former stockholders of RM Fresh owned approximately 7% of the Company’s common stock. RM Fresh was incorporated on July 29, 2008 under the laws of the Province of Ontario, Canada and is engaged in the business of trading and distribution of food, beverages and body care products. On August 31, 2016, the Company entered into a group of transactions related to RM Fresh. In order to fund the ongoing operation and further development of RM Fresh, the Company consented to new third party investments into RM Fresh in the approximate total amount of $175,000, made in the form of cash and retirement of indebtedness owed to it. As a result of these new investments, the Company’s ownership percentage of RM Fresh has been reduced to twenty percent (20%). In addition, the Company entered into a new Shareholder Agreement with RM Fresh, under which the Company’s shares in RM Fresh are subject to certain restrictions on transfer until such time as the Company declares a stockholder dividend of its RM Fresh shares following a going public transaction by RM Fresh, or in the alternative, for one (1) year after RM Fresh completes a going public transaction

Going Concern

Going Concern	9 Months Ended
	Mar. 31, 2017
Going Concern [Abstract]
GOING CONCERN	2. GOING CONCERN The Company’s unaudited interim condensed 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 period, the Company has incurred recurring losses from operations and as at March 31, 2017 has a working capital deficiency of $62,703, and accumulated deficit of $4,182,777 which has primarily arisen from a non-cash goodwill impairment charge in the current period. Further, as explained in Note 1, on August 31, 2016, the Company’s ownership percentage of RM Fresh has been reduced to 20%. 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. 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 interim condensed 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	9 Months Ended
	Mar. 31, 2017
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the rules and regulations of the SEC and are expressed in US dollars. Accordingly, the unaudited interim condensed financial statements do not include all information and footnotes required by US GAAP for complete annual financial statements. The unaudited interim condensed financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending June 30, 2017 or for any other interim period. The unaudited interim condensed financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended March 31, 2016. The unaudited interim condensed financial statements of the Company as at, March 31, 2017, do not include the assets and liabilities of RM Fresh, which is no longer a wholly-owned subsidiary effective August 31, 2016, as described in Note 4. Use of Estimates The preparation of the unaudited interim condensed financial statements in conformity with US GAAP 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates may include those pertaining to accruals. Actual results could materially differ from those estimates. Recently Issued Accounting Standards In January 2017, an accounting pronouncement was issued by the Financial Accounting Standards Board (“FASB”) to simplify the accounting for goodwill impairment. This guidance eliminates the requirement that an entity calculates the implied fair value of goodwill when measuring an impairment charge. Instead, an entity would record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. This pronouncement is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The adoption is required to be applied on a prospective basis. The adoption of this pronouncement did not have a material impact on the financial position and/or results of operations. The Company adopted the accounting pronouncement issued by the Financial Accounting Standards Board (“FASB”) to update guidance on how companies account for certain aspects of share-based payments to employees. This pronouncement is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. This guidance requires all income tax effects of awards to be recognized in the statements of operations when the awards vest or are settled and changes the presentation of excess tax benefits on the statement of cash flows. The Company adopted these provisions on a prospective basis. In addition, this pronouncement changes guidance on: (a) accounting for forfeitures of share-based awards and (b) employers’ accounting for an employee’s use of shares to satisfy the employer’s statutory income tax withholding obligation. The adoption of this pronouncement did not have a material impact on the financial position and/or results of operations. In March 2016, the Company adopted the accounting pronouncement issued by the FASB to update guidance on how companies account for certain aspects of share-based payments to employees. This pronouncement is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. This guidance requires all income tax effects of awards to be recognized in the statements of operations when the awards vest or are settled and changes the presentation of excess tax benefits on the statement of cash flows. The Company adopted these provisions on a prospective basis. In addition, this pronouncement changes guidance on: (a) accounting for forfeitures of share-based awards and (b) employers’ accounting for an employee’s use of shares to satisfy the employer’s statutory income tax withholding obligation. The adoption of this pronouncement did not have a material impact on the Company’s financial position and/or results of operations. In February 2016, an accounting pronouncement was issued by the FASB to replace existing lease accounting guidance. This pronouncement is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet for most leases. Expenses associated with leases will continue to be recognized in a manner similar to current accounting guidance. This pronouncement is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. The adoption is required to be applied on a modified retrospective basis for each prior reporting period presented. The Company has not yet determined the effect that the adoption of this pronouncement may have on the financial position and/or results of operations. On January 1, 2016, the Company adopted the accounting pronouncement issued by the FASB which eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. The adoption of this pronouncement did not have a material impact on the financial position and/or results of operations. On January 1, 2016, the Company adopted the accounting pronouncement issued by the FASB to update the guidance related to the presentation of debt issuance costs. This guidance requires debt issuance costs, related to a recognized debt liability, be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability rather than being presented as an asset. The Company adopted this pronouncement on a retrospective basis, and the adoption did not have a material impact on the financial position and/or results of operations. In November 2015, an accounting pronouncement was issued by the FASB to simplify the presentation of deferred income taxes within the balance sheet. This pronouncement eliminates the requirement that deferred tax assets and liabilities are presented as current or noncurrent based on the nature of the underlying assets and liabilities. Instead, the pronouncement requires all deferred tax assets and liabilities, including valuation allowances, be classified as noncurrent. This pronouncement is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The adoption will not have a material impact on the financial position and/or results of operations.

Loss of Control in Subsidiary C

Loss of Control in Subsidiary Company	9 Months Ended
	Mar. 31, 2017
Loss of Control in Subsidiary Company [Abstract]
LOSS OF CONTROL IN SUBSIDIARY COMPANY	4. LOSS OF CONTROL IN SUBSIDIARY COMPANY On September 30, 2015, the Company entered into a Share Exchange Agreement with and among RM Fresh and its shareholders, pursuant to which, the Company acquired 100% of the issued and outstanding shares of RM Fresh in exchange for the issuance of 2,000,000 shares of the Company’s common stock. As a result of this transaction, RM Fresh became a wholly owned subsidiary of the Company and the former shareholders of RM Fresh owned approximately 7% of the Company’s shares of common stock. Subsequently, On August 31, 2016, the Company entered into a group of transactions related to RM Fresh. In order to fund the ongoing operation and further development of RM Fresh, the Company consented to new third party investments into RM Fresh in the approximate total amount of $175,000, made in the form of cash and retirement of indebtedness owed by RM Fresh, reducing the Company’s ownership percentage of RM Fresh to twenty percent (20%) and is thus accounted for as an available for sale investment. As a result, the condensed financial statements of the Company as at, March 31, 2017, do not include the assets and liabilities of RM Fresh, which is no longer a wholly-owned subsidiary effective August 31, 2016, while the balance sheet as at March 31, 2016 is consolidated and contains the accounts of RM Fresh. The condensed statement of operations of the Company includes the results of the operations of RM Fresh up to August 31, 2016, which is the effective date of change in control, due to loss of control in RM Fresh and consequent de-consolidation. The fair value of the assets and liabilities as at August 31, 2016 and the carrying value of the investments, which resulted in the Company recording a gain of $61,154 in the statement of operations, is as follows: Fair value as at Cash 12,720 Accounts receivable 250,203 Inventories 78,891 Harmonized sales tax recoverable 24,071 Total assets 365,885 Accounts payable 307,571 Due to stockholders 7,529 Due to related parties 60,145 Notes payable 51,794 Total liabilities 427,039 Net liabilities 61,154 Purchase consideration value of investments in RM Fresh shares on date of acquisition 2,180,000 Impairment recorded until August 31, 2016 (2,180,000 ) Carrying value of investments in RM Fresh shares on date of change in control — Gain on date of change in control due to deconsolidation of net liabilities of RM Fresh 61,154 Management has concluded that the entire available for sale investment in RM Fresh is impaired and hence the investment is written off.

Accounts and Other Receivable

Accounts and Other Receivable	9 Months Ended
	Mar. 31, 2017
Accounts and Other Receivable [Abstract]
ACCOUNTS AND OTHER RECEIVABLE	5. ACCOUNTS AND OTHER RECEIVABLE Accounts and other receivables as at March 31, 2017 are nil. Accounts and other receivable as at March 31, 2016 represent trade accounts receivable of $264,880, net of allowances and other receivable. Other receivable relates to a distributor listing fee recoverable from a supplier under an arrangement with the Company. All these balances related to RM Fresh.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Mar. 31, 2017
Accounts Payable and Accrued Liabilities [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities as at March 31, 2017 comprises accrued liabilities amounting to $19,167 ($326,476 as at June 30, 2016).

Due to Stockholders

Due to Stockholders	9 Months Ended
	Mar. 31, 2017
Due to Stockholders [Abstract]
DUE TO STOCKHOLDERS	7. DUE TO STOCKHOLDERS Amount due to stockholders are unsecured, interest free and is repayable on demand.

Notes Payable

Notes Payable	9 Months Ended
	Mar. 31, 2017
Notes Payable [Abstract]
NOTES PAYABLE	8. NOTES PAYABLE Outstanding note payable of $51,794 on June 30, 2016 represents unsecured promissory notes amounting to $26,000 and $25,794 issued on April 1, 2015 and March 4, 2016, respectively bearing interest at 20% and 12% per annum, respectively, repayable within a year from issuance date. Interest accrued on these notes during the year ended June 30, 2016 amounted to $6,218. As explained in Note 4, as a result of loss of control, these notes were deconsolidated. Further, on August 21, 2015 the Company issued $180,000 convertible notes payable bearing interest at 10% p.a. repayable on February 21, 2017. The principal amount and accrued interest were convertible into common stock of the Company at the option of the holder at any time from the date of issuance at $1. The Company concluded that there is no beneficial conversion feature determined in accordance with the guidance provided in ASC 470. Accordingly, these notes were recognized as liability at the time of issuance. On September 30, 2015 all the Holders exercised their right to convert the outstanding principal amount of these notes, into the Company’s common stock at a price of $1.00 per stock (Note 9).

Stockholders' Deficiency

Stockholders' Deficiency	9 Months Ended
	Mar. 31, 2017
Stockholders' Deficiency [Abstract]
STOCKHOLDERS' DEFICIENCY	9. STOCKHOLDERS’ DEFICIENCY COMMON STOCK - AUTHORIZED As at March 31, 2017, the Company 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 On September 9, 2015, the Board of Directors and stockholders of the Company approved a Certificate of Amendment to its Articles of Incorporation to increase the par value of Company’s common stock and preferred stock from no par value to $0.0001 per stock and approved a 1:7 forward split upon the increase of the par value. As a result, the issued and outstanding common stock of the Company increased from 7,400,000 shares prior to the Forward Split to 51,800,000 shares following the Forward Split. Prior year amounts were restated from the earliest period presented, to reflect the effect of the forward split. On September 30, 2015, the Company issued 2,000,000 shares of common stock to the former stockholders of RM Fresh pursuant to Share Exchange Agreement. Further, the Principal stockholder of the Company agreed to cancel 25,800,000 shares of common stock in accordance with the Cancellation Agreement. As explained in Note 8, on September 30, 2015 the holders of convertible notes payable exercised their option to convert the notes payable including interest into shares at a price of $1 per stock with the resultant issuance of 180,000 shares. During October and December 2015, the Company issued 92,000 shares of common stock to three investors at a price of $1.25 per common stock and received gross proceeds of $115,000. On October 1, 2015, the Company issued 250,000 shares of common stock to a director in connection with joining the board of directors. These shares were fair valued at $337,500, determined based on the market price on the date of issuance, and recorded as expense under professional fees in the statement of operations. During October and December 2015, the Company issued 335,000 shares of common stock to various third parties in connection with providing consulting services. These shares were fair valued at $452,350, and expensed during the year ended March 31, 2016. During February 2016, the Company issued 70,000 shares of common stock to one investor at a cash price of $0.50 per common stock and received gross proceeds of $35,000. On January 8, 2016 and March 31, 2016, the Company issued 250,000 shares of common stock to two directors in connection with joining the board of directors. These shares were fair valued at $290,000 and $22,500 respectively, determined based on the market price on the date of issuance, and expensed during the year ended March 31, 2016. On January 26, 2016, the Company issued 100,000 shares of common stock to third parties in connection with providing consulting services. These shares were fair valued at $89,000, determined based on the market price on the date of issuance, and expensed during the year ended March 31, 2016. On October 28, 2016, the Company issued 35,537,000 shares of common stock to the CEO, as consideration for management services. These shares were fair valued at $355,370, determined based on the market price on the date of issuance, and recorded in the statement of operations as management fees during the year ended March 31, 2016. On November 16, 2016, the Board of Directors and stockholders of the Company approved a 1:1000 reverse split. As a result, the issued and outstanding common stock of the Company decreased from 65,064,000 shares prior to the reverse split to 65,064 shares following the reverse split. Prior year amounts have been restated from the earliest period presented, to reflect the effect of the reverse split. At March 31, 2017, there were 65,064 shares of common stock issued and outstanding of which 50,247 shares are restricted while 14,817 shares are unrestricted (March 31, 2016 – 29,527 shares of common stock - 15,247 shares restricted and 14,280 shares unrestricted). The restricted shares have been issued to various parties through private placements, as start-up capital or as consideration for professional services. These restricted shares will be available for sale under Rule 144 of the Securities Act of 1933, as amended, when the conditions of Rule 144 have been met.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets [Abstract]
GOODWILL AND INTANGIBLE ASSETS	10. GOODWILL AND INTANGIBLE ASSETS Business Acquisition ASC Topic 805, “Business Combinations” requires that all business combinations be accounted for using the acquisition method and that certain identifiable intangible assets acquired in a business combination be recognized as assets apart from goodwill. ASC Topic 350, “Intangibles-Goodwill and Other” (“ASC 350”) requires goodwill and other identifiable intangible assets with indefinite useful lives not be amortized, such as trade names, but instead tested at least annually for impairment (which the Company tests each year end, absent any impairment indicators) and be written down if impaired. ASC 350 requires that goodwill be allocated to its respective reporting unit and that identifiable intangible assets with finite lives be amortized over their useful lives. As detailed in Note 4, the Company acquired control in RM Fresh, giving rise to goodwill and intangible assets. Goodwill The Company tests for impairment of goodwill at the reporting unit level. In assessing whether goodwill is impaired, the Company utilizes the two-step process as prescribed by ASC 350. The first step of this test compares the fair value of the reporting unit, determined based upon discounted estimated future cash flows, to the carrying amount, including goodwill. If the fair value exceeds the carrying amount, no further work is required and no impairment loss is recognized. If the carrying amount of the reporting unit exceeds the fair value, the goodwill of the reporting unit is potentially impaired and step two of the goodwill impairment test would need to be performed to measure the amount of an impairment loss, if any. In the second step, the impairment is computed by comparing the implied fair value of the reporting unit’s goodwill with the carrying amount of the goodwill. If the carrying amount of the reporting unit’s goodwill is greater than the implied fair value of its goodwill, an impairment loss in the amount of the excess is recognized and charged to statement of operations. Goodwill amounting to $1,394,135 was immediately impaired based on the implied fair value of goodwill determined based on the enterprise value of the acquiree. Intangible assets Amortization expense of Nil (Three months ended March 2016: $23,450) and Nil (Nine months ended March 2016) on these intangible assets were recorded for the three and nine months ended March 31, 2017.

Forgiveness of Loan

Forgiveness of Loan	9 Months Ended
	Mar. 31, 2017
Forgiveness of Loan [Abstract]
FORGIVENESS OF LOAN	11. FORGIVENESS OF LOAN Loan amounting to $17,974 provided by a related party to RM Fresh before acquisition to meet the working capital requirements and was unsecured, interest free and was repayable on demand. During year ended June 30, 2016 the related party agreed to forgive the loan in favor of the Company.

Related Party Transactions and

Related Party Transactions and Balances	9 Months Ended
	Mar. 31, 2017
Related Party Transactions and Balances [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	12. RELATED PARTY TRANSACTIONS AND BALANCES The Company’s transactions with related parties were, in the opinion of the management, carried out on normal commercial terms and in the ordinary course of the Company’s business. Other than disclosed elsewhere in the condensed unaudited interim financial statements, the other related party transactions are as follows: ● Management fees of $Nil and $13,824 charged by entities owned by the stockholders of the Company (relating to RM Fresh) for providing warehousing and other logistic services for the three and nine months ended March 31, 2017 (Three and nine months ended March 31, 2016 of $47,626 and $101,541). ● Further as explained in note 9, management fee for the nine months ended March 31, 2017 include $355,370 representing issuance of 35,537,000 shares of common stock issued to the then CEO of the Company.

Subsequent Events

Subsequent Events	9 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	13. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events up to May 12, 2017, the date the condensed financial statements were issued, pursuant to the requirements of ASC Topic 855 and has determined that there is no significant subsequent event to report.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and the rules and regulations of the SEC and are expressed in US dollars. Accordingly, the unaudited interim condensed financial statements do not include all information and footnotes required by US GAAP for complete annual financial statements. The unaudited interim condensed financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending June 30, 2017 or for any other interim period. The unaudited interim condensed financial statements should be read in conjunction with the audited financial statements of the Company and the notes thereto as of and for the year ended March 31, 2016. The unaudited interim condensed financial statements of the Company as at, March 31, 2017, do not include the assets and liabilities of RM Fresh, which is no longer a wholly-owned subsidiary effective August 31, 2016, as described in Note 4.
Use of Estimates	Use of Estimates The preparation of the unaudited interim condensed financial statements in conformity with US GAAP 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 unaudited condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates may include those pertaining to accruals. Actual results could materially differ from those estimates.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In January 2017, an accounting pronouncement was issued by the Financial Accounting Standards Board (“FASB”) to simplify the accounting for goodwill impairment. This guidance eliminates the requirement that an entity calculates the implied fair value of goodwill when measuring an impairment charge. Instead, an entity would record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. This pronouncement is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The adoption is required to be applied on a prospective basis. The adoption of this pronouncement did not have a material impact on the financial position and/or results of operations. The Company adopted the accounting pronouncement issued by the Financial Accounting Standards Board (“FASB”) to update guidance on how companies account for certain aspects of share-based payments to employees. This pronouncement is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. This guidance requires all income tax effects of awards to be recognized in the statements of operations when the awards vest or are settled and changes the presentation of excess tax benefits on the statement of cash flows. The Company adopted these provisions on a prospective basis. In addition, this pronouncement changes guidance on: (a) accounting for forfeitures of share-based awards and (b) employers’ accounting for an employee’s use of shares to satisfy the employer’s statutory income tax withholding obligation. The adoption of this pronouncement did not have a material impact on the financial position and/or results of operations. In March 2016, the Company adopted the accounting pronouncement issued by the FASB to update guidance on how companies account for certain aspects of share-based payments to employees. This pronouncement is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted. This guidance requires all income tax effects of awards to be recognized in the statements of operations when the awards vest or are settled and changes the presentation of excess tax benefits on the statement of cash flows. The Company adopted these provisions on a prospective basis. In addition, this pronouncement changes guidance on: (a) accounting for forfeitures of share-based awards and (b) employers’ accounting for an employee’s use of shares to satisfy the employer’s statutory income tax withholding obligation. The adoption of this pronouncement did not have a material impact on the Company’s financial position and/or results of operations. In February 2016, an accounting pronouncement was issued by the FASB to replace existing lease accounting guidance. This pronouncement is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use assets and corresponding lease liabilities on the balance sheet for most leases. Expenses associated with leases will continue to be recognized in a manner similar to current accounting guidance. This pronouncement is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. The adoption is required to be applied on a modified retrospective basis for each prior reporting period presented. The Company has not yet determined the effect that the adoption of this pronouncement may have on the financial position and/or results of operations. On January 1, 2016, the Company adopted the accounting pronouncement issued by the FASB which eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. The adoption of this pronouncement did not have a material impact on the financial position and/or results of operations. On January 1, 2016, the Company adopted the accounting pronouncement issued by the FASB to update the guidance related to the presentation of debt issuance costs. This guidance requires debt issuance costs, related to a recognized debt liability, be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability rather than being presented as an asset. The Company adopted this pronouncement on a retrospective basis, and the adoption did not have a material impact on the financial position and/or results of operations. In November 2015, an accounting pronouncement was issued by the FASB to simplify the presentation of deferred income taxes within the balance sheet. This pronouncement eliminates the requirement that deferred tax assets and liabilities are presented as current or noncurrent based on the nature of the underlying assets and liabilities. Instead, the pronouncement requires all deferred tax assets and liabilities, including valuation allowances, be classified as noncurrent. This pronouncement is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. The adoption will not have a material impact on the financial position and/or results of operations.

Loss of Control in Subsidiary20

Loss of Control in Subsidiary Company (Tables)	9 Months Ended
	Mar. 31, 2017
Loss of Control in Subsidiary Company [Abstract]
Schedule of fair value assets and liabilities carrying value of the investments	Fair value as at Cash 12,720 Accounts receivable 250,203 Inventories 78,891 Harmonized sales tax recoverable 24,071 Total assets 365,885 Accounts payable 307,571 Due to stockholders 7,529 Due to related parties 60,145 Notes payable 51,794 Total liabilities 427,039 Net liabilities 61,154 Purchase consideration value of investments in RM Fresh shares on date of acquisition 2,180,000 Impairment recorded until August 31, 2016 (2,180,000 ) Carrying value of investments in RM Fresh shares on date of change in control — Gain on date of change in control due to deconsolidation of net liabilities of RM Fresh 61,154

Nature of Operations (Details)

Nature of Operations (Details) - USD ($)	Aug. 31, 2016	Sep. 30, 2015
Nature of Operations (Textual)
Percentage of issued and outstanding shares acquired		100.00%
Common stock issued under share exchange agreement		2,000,000
Ownership percentage	20.00%	7.00%
Cash and retirement amount	$ 175,000
Going public transaction, term	1 year

Going Concern (Details)

Going Concern (Details) - USD ($)	Mar. 31, 2017	Aug. 31, 2016	Jun. 30, 2016	Sep. 30, 2015
Going Concern (Textual)
Working capital deficiency	$ 62,703
Accumulated deficit	$ (4,182,777)		$ (3,879,336)
Ownership percentage reduced		20.00%		7.00%

Loss of Control in Subsidiary23

Loss of Control in Subsidiary Company (Details) - USD ($)	Mar. 31, 2017	Aug. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015
Loss of Control in Subsidiary Company [Line Items]
Cash	$ 7,377		$ 2,993	$ 16,327	$ 3,380
Subsidiary [Member]
Loss of Control in Subsidiary Company [Line Items]
Cash		$ 12,720
Accounts receivable		250,203
Inventories		78,891
Harmonized sales tax recoverable		24,071
Total assets		365,885
Accounts payable		307,571
Due to stockholders		7,529
Due to related parties		60,145
Notes payable		51,794
Total liabilities		427,039
Net liabilities		61,154
Purchase consideration value of investments in RM Fresh shares on date of acquisition		2,180,000
Impairment recorded until August 31, 2016		(2,180,000)
Carrying value of investments in RM Fresh shares on date of change in control
Gain on date of change in control due to deconsolidation of RM Fresh		$ 61,154

Loss of Control in Subsidiary24

Loss of Control in Subsidiary Company (Details Textual) - USD ($)	Aug. 31, 2016	Sep. 30, 2015
Loss of Control in Subsidiary Company (Textual)
Percentage of issued and outstanding shares acquired		100.00%
Common stock issued under share exchange agreement		2,000,000
Ownership percentage	20.00%	7.00%
Total amount of cash and retirement	$ 175,000
Gain on fair value investments	$ 61,154

Accounts and Other Receivable (

Accounts and Other Receivable (Details) - USD ($)	Mar. 31, 2017	Jun. 30, 2016	Mar. 31, 2016
Accounts and Other Receivable (Textual)
Trade accounts receivable			$ 264,880
Accounts and other receivable, net of allowance (Note 5)		$ 264,880

Accounts Payable and Accrued 26

Accounts Payable and Accrued Liabilities (Details) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Accounts Payable and Accrued Liabilities (Textual)
Accrued liabilities	$ 19,167	$ 326,476

Notes Payable (Details)

Notes Payable (Details) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 21, 2015	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016	Mar. 04, 2016	Sep. 30, 2015	Apr. 01, 2015
Notes Payable (Textual)
Outstanding note payable				$ 51,794
Unsecured promissory notes					$ 25,794		$ 26,000
Interest rate	10.00%				12.00%		20.00%
Interest accrued				$ 6,218
Maturity date	Feb. 21, 2017
Proceeds from issuance of convertible note	$ 180,000		$ 180,000
Common stock price per share						$ 1
Conversion of common stock, description	The principal amount and accrued interest were convertible into common stock of the Company at the option of the holder at any time from the date of issuance at $1.

Stockholders' Deficiency (Detai

Stockholders' Deficiency (Details)	Nov. 16, 2016	Mar. 31, 2016shares	Jan. 26, 2016shares	Sep. 09, 2015$ / shares	Oct. 28, 2016shares	Feb. 29, 2016USD ($)Investors$ / sharesshares	Dec. 31, 2015USD ($)Investors$ / sharesshares	Oct. 31, 2015USD ($)Investors$ / sharesshares	Sep. 30, 2015$ / sharesshares	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2016USD ($)shares	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2016USD ($)Directorsshares	Jun. 30, 2016$ / sharesshares	Jan. 08, 2016shares
Stockholders' (Deficiency) (Textual)
Preferred stock, par value | $ / shares										$ 0.0001		$ 0.0001		$ 0.0001
Preferred stock, shares authorized										10,000,000		10,000,000		10,000,000
Common stock, par value | $ / shares										$ 0.0001		$ 0.0001		$ 0.0001
Common stock, shares authorized										100,000,000		100,000,000		100,000,000
Preferred stock, no par value | $ / shares				$ 0.0001
Common stock, no par value | $ / shares				$ 0.0001
Stock split, description				1:7 forward split upon the increase of the par value.
Post reverse split, description				The issued and outstanding common stock of the Company increased from 7,400,000 shares prior to the Forward Split to 51,800,000 shares following the Forward Split.
Debt conversion, description									The holders of convertible notes payable exercised their option to convert the notes payable including interest into shares at a price of $1 per stock.
Issuance of common stock, shares									180,000
Common stock, shares issued		29,527								65,064	29,527	65,064	29,527	29,527
Common stock, shares outstanding		29,527								65,064	29,527	65,064	29,527	29,527
Common stock price per share | $ / shares									$ 1
Professional fees | $										$ 4,285	$ 523,746	$ 41,142	$ 1,144,981
Proceeds from issuance of common stock | $													$ 150,000
Restricted shares		15,247										50,247
Unrestricted shares		14,280										14,817
Cancellation Agreement [Member]
Stockholders' (Deficiency) (Textual)
Cancellation of common stock									25,800,000
RM Fresh [Member]
Stockholders' (Deficiency) (Textual)
Issuance of common stock, shares									2,000,000
Director [Member]
Stockholders' (Deficiency) (Textual)
Issuance of common stock, shares								250,000					250,000
Issuance of common stock, value | $								$ 337,500					$ 22,500
Common stock, shares issued															250,000
Number of directors | Directors													2
Common stock issued for services, value | $													$ 290,000
Third Parties [Member]
Stockholders' (Deficiency) (Textual)
Common stock issued for services, shares							335,000	335,000
Common stock issued for services, value | $													$ 452,350
CEO [Member]
Stockholders' (Deficiency) (Textual)
Common stock issued for services, shares					35,537,000								35,537,000
Common stock issued for services, value | $													$ 355,370
Board of Directors and Stockholders [Member]
Stockholders' (Deficiency) (Textual)
Post reverse split, description	Company approved a 1:1000 reverse split. As a result, the issued and outstanding common stock of the Company decreased from 65,064,000 shares prior to the reverse split to 65,064 shares following the reverse split.
Common stock [Member]
Stockholders' (Deficiency) (Textual)
Issuance of common stock, shares						70,000	92,000	92,000
Common stock price per share | $ / shares						$ 0.50	$ 1.25	$ 1.25
Number of investors | Investors						1	3	3
Proceeds from issuance of common stock | $						$ 35,000	$ 115,000	$ 115,000
Common stock [Member] | Third Parties [Member]
Stockholders' (Deficiency) (Textual)
Common stock issued for services, shares			100,000
Common stock issued for services, value | $													$ 89,000

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Goodwill and Intangible Assets [Textual]
Impairment of goodwill				$ 1,394,135
Amortization expense		$ 23,450		$ 46,900

Forgiveness of Loan (Details)

Forgiveness of Loan (Details)	9 Months Ended
	Mar. 31, 2016USD ($)
Forgiveness of Loan (Textual)
Forgiveness of loan	$ 17,974

Related Party Transactions an31

Related Party Transactions and Balances (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 28, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Related Party Transactions and Balances (Textual)
Issuance of shares for services				$ 355,370	$ 954,077
Management fees			$ 47,626	369,194	$ 101,541
RM Fresh [Member]
Related Party Transactions and Balances (Textual)
Management fees				$ 13,824
CEO [Member]
Related Party Transactions and Balances (Textual)
Common stock issued for services, shares	35,537,000				35,537,000