Cover
Cover - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jun. 30, 2022 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity File Number | 000-55849 | ||
Entity Registrant Name | LEGACY VENTURES INTERNATIONAL, INC | ||
Entity Central Index Key | 0001616788 | ||
Entity Tax Identification Number | 30-0826318 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | Unit 01, 82/F. International Commerce Centre | ||
Entity Address, Address Line Two | 1 Austin Road West | ||
Entity Address, City or Town | Kowloon | ||
Entity Address, Country | HK | ||
City Area Code | 852 | ||
Local Phone Number | 3960 6394 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 1,890,384 | ||
Entity Common Stock, Shares Outstanding | 50,315,064 | ||
Documents Incorporated by Reference | None | ||
Auditor Firm ID | 1930 | ||
Auditor Location | Mississauga, Canada | ||
Auditor Name | MNP LLP |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 |
Current assets | ||
Cash | $ 21,017 | $ 22,780 |
Total assets | 21,017 | 22,780 |
Current liabilities | ||
Accounts payable and accrued liabilities | 20,248 | 140,609 |
Secured promissory notes | 165,000 | |
Convertible notes | 20,000 | |
Interest payable | 32,418 | |
Advances from third parties | 22,925 | |
Advances from a shareholder | 11,473 | |
Total liabilities | 31,721 | 380,952 |
Stockholders’ deficiency | ||
Preferred Stock, $0.0001 par value; 10,000,000 shares authorized: Preferred Stock – no shares issued and outstanding June 30, 2022, and June 30, 2021 | ||
Common Stock, $0.0001 par value; 100,000,000 shares authorized: Common Stock – 50,315,064 and 315,064 shares issued and outstanding June 30, 2022 and June 30, 2021, respectively | 5,032 | 32 |
Additional paid in capital | 6,429,771 | 6,394,771 |
Accumulated deficit | (6,445,507) | (6,752,975) |
Total stockholders’ deficiency | (10,704) | (358,172) |
Total liabilities and stockholders’ deficiency | $ 21,017 | $ 22,780 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2022 | Jun. 30, 2021 |
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 | 50,315,064 | 315,064 |
Common stock, shares outstanding | 50,315,064 | 315,064 |
Statements of Operations and Co
Statements of Operations and Comprehensive Income (Loss) - USD ($) | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Operating expenses | ||
Professional fees | $ 40,367 | $ 46,900 |
Other general and administration expenses | 14,455 | 5,264 |
Loss from operations | (54,822) | (52,164) |
Other income (expenses) | ||
Interest expense - Convertible and Secured notes | (13,363) | (20,524) |
Gain on cancellation of secured promissory notes and convertible notes | 225,000 | |
Gain on cancellation of interest payable | 45,781 | |
Gain on cancellation of third party advances and accrued liabilities | 104,760 | |
Exchange gain | 145 | |
Bank charges and other | (33) | (29,704) |
Total other income (expenses) | 362,290 | (50,228) |
Income (Loss) before taxes | 307,468 | (102,392) |
Net income (loss) and comprehensive income (loss) | $ 307,468 | $ (102,392) |
Net income (loss) per share - basic and diluted | $ 0.03 | $ (0.32) |
Weighted average number of common shares outstanding - basic and diluted | 11,273,968 | 315,064 |
Statements of Stockholders' Def
Statements of Stockholders' Deficiency - USD ($) | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Beginning Balance | $ (358,172) | $ (255,780) |
Net income (loss) | 307,468 | (102,392) |
Share issuance | 40,000 | |
Ending Balance | (10,704) | (358,172) |
Common Stock [Member] | ||
Beginning Balance | $ 32 | $ 32 |
Beginning Balance, shares | 315,064 | 315,064 |
Net income (loss) | ||
Share issuance | $ 5,000 | |
Share issuance, shares | 50,000,000 | |
Ending Balance | $ 5,032 | $ 32 |
Ending Balance, shares | 50,315,064 | 315,064 |
Additional Paid-in Capital [Member] | ||
Beginning Balance | $ 6,394,771 | $ 6,394,771 |
Net income (loss) | ||
Share issuance | 35,000 | |
Ending Balance | 6,429,771 | 6,394,771 |
Retained Earnings [Member] | ||
Beginning Balance | (6,752,975) | (6,650,583) |
Net income (loss) | 307,468 | (102,392) |
Share issuance | ||
Ending Balance | $ (6,445,507) | $ (6,752,975) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 307,468 | $ (102,392) |
Gain on cancellation of secured promissory notes and convertible notes | (225,000) | |
Gain on cancellation of interest payable | (45,781) | |
Gain on cancellation of third party advances and accrued liabilities | (104,760) | |
Changes in non-cash operating assets and liabilities | ||
Interest payable – Convertible notes | 13,363 | 20,524 |
Advances from third parties | (20,055) | |
Accounts payable and accrued liabilities | (18,471) | 24,512 |
Net cash flows used in operating activities | (93,236) | (57,356) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from share issuance | 40,000 | |
Advances from a shareholder | 11,473 | |
Proceeds from secured convertible note | 40,000 | 65,000 |
Net cash flows provided by financing activities | 91,473 | 65,000 |
(Decrease) Increase in cash | (1,763) | 7,644 |
Cash, beginning of year | 22,780 | 15,136 |
Cash, end of year | 21,017 | 22,780 |
Cash payments for: | ||
Interest | ||
Income taxes |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 12 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS 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. 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. To date the Company has not experienced any impacts as a result of COVID-19. |
GOING CONCERN AND BASIS OF PRES
GOING CONCERN AND BASIS OF PRESENTATION | 12 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN AND BASIS OF PRESENTATION | NOTE 2 – GOING CONCERN AND BASIS OF PRESENTATION The Company’s audited 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. As of June 30, 2022, the Company has a working capital deficiency of $ 10,704 358,172 6,445,507 6,752,975 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS | 12 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS | NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS 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. Income (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 income (loss) per share reflect the potential dilution of securities that could share in the income (loss) of an entity. Diluted income (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, 2022 and 202 1. 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. |
SECURED PROMISSORY AND CONVERTI
SECURED PROMISSORY AND CONVERTIBLE NOTES | 12 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
SECURED PROMISSORY AND CONVERTIBLE NOTES | NOTE 4 – SECURED PROMISSORY AND CONVERTIBLE NOTES Secured Promissory Note On December 2, 2018, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note had an aggregate principal amount of $ 50,000 December 2, 2019 4 18 2,391 9,486 On September 6, 2019, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note had an aggregate principal amount of $ 50,000 September 6, 2020 4 18 2,391 8,134 On October 1, 2020, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note had an aggregate principal amount of $ 65,000 October 1, 2021 4 18 655 1,944 On August 13, 2021, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note had an aggregate principal amount of $ 40,000 August 13, 2022 4 18 470 nil As of September 30, 2021, each note holder had agreed to entered into a cancellation and release agreement to provide conclusive evidence of the cancellation, settlement and full and final mutual release with respect to all and any rights, obligations and disputes among the Parties arising under the Secured Note. There was no outstanding interest payable nor outstanding secured promissory note. The cancellation of secured promissory notes and the cancellation of interest payable were recorded as a gain on the statements of operations and comprehensive income (loss). The principal amount of $ 205,000 33,941 Unsecured Convertible Promissory Notes On June 28, 2017 the Company issued $ 20,000 4,000 June 27, 2018 8 12 0.75 20,000 20,000 248 960 As of September 30, 2021, each note holder had agreed to entered into a cancellation and release agreement to provide conclusive evidence of the cancellation, settlement and full and final mutual release with respect to all and any rights, obligations and disputes among the Parties arising under the Secured Note. There was no outstanding interest payable nor outstanding secured promissory note. The cancellation of convertible promissory notes and the cancellation of interest payable were recorded as a gain on the statements of operations and comprehensive income (loss). The principal amount of $ 20,000 11,840 |
RELATED PARTY ADVANCES AND BALA
RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES | 12 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES | NOTE 5 – RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES 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 has agreed with the third party with respect to settlement of the amount advanced. For the year ended June 30, 2022, we recognized a gain on cancellation of third party advances and accrued liabilities, amount of $ 104,760 no For the year ended June 30, 2022, the Company was advanced funds by a shareholder. The funds were used to pay certain professional fees including auditors and accountants. The balance is non-interest bearing and due on demand. As at June 30, 2022, there was a balance of $ 11,473 For the years ended June 30, 2021, the previous sole Director and Officer of the Company, earned fees of $ 12,000 |
COMMON AND PREFERRED STOCK TRAN
COMMON AND PREFERRED STOCK TRANSACTIONS | 12 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
COMMON AND PREFERRED STOCK TRANSACTIONS | NOTE 6 - COMMON AND PREFERRED STOCK TRANSACTIONS As of June 30, 2022, the Company was authorized to issue 10,000,000 0.0001 100,000,000 0.0001 During the year ended June 30, 2022, the Company issued 50,000,000 40,000 There were no common stock transactions for the year ended June 30, 2021. As of June 30, 2022, and June 30, 2021, the Company had 50,315,064 315,064 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 7 - INCOME TAXES Income taxes The provision for income taxes differs from that computed at the corporate tax rate of approximately 21 21 SCHEDULE OF PROVISION FOR INCOME TAXES 2022 2021 Net income (loss) before income taxes $ 307,468 $ (102,392 ) Expected income tax expense (recovery) at statutory rates 64,570 (21,500 ) Tax rate and other adjustments — — Tax effect of non-deductible expenses (taxable items) (18,900 ) 6,300 Change in valuation allowance (45,670 ) 15,200 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, 2022 and 2021 : SCHEDULE OF NET DEFERRED TAX ASSETS 2022 2021 Deferred tax assets (non-current): Net operating loss $ 407,130 $ 296,660 Valuation allowance (407,130 ) (296,660 ) Net deferred tax assets $ — $ — |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8 - SUBSEQUENT EVENTS In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before the financial statements are issued, the Company has evaluated all events or transactions that occurred after June 30, 2022 up through the date the Company issued the financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.” |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS (Policies) | 12 Months Ended |
Jun. 30, 2022 | |
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. |
Income (Loss) Per Share | Income (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 income (loss) per share reflect the potential dilution of securities that could share in the income (loss) of an entity. Diluted income (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, 2022 and 202 1. |
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, 2022 | |
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 21 SCHEDULE OF PROVISION FOR INCOME TAXES 2022 2021 Net income (loss) before income taxes $ 307,468 $ (102,392 ) Expected income tax expense (recovery) at statutory rates 64,570 (21,500 ) Tax rate and other adjustments — — Tax effect of non-deductible expenses (taxable items) (18,900 ) 6,300 Change in valuation allowance (45,670 ) 15,200 Provision for (benefit from) income taxes $ — $ — |
SCHEDULE OF NET DEFERRED TAX ASSETS | Net deferred tax assets consist of the following components as of June 30, 2022 and 2021 : SCHEDULE OF NET DEFERRED TAX ASSETS 2022 2021 Deferred tax assets (non-current): Net operating loss $ 407,130 $ 296,660 Valuation allowance (407,130 ) (296,660 ) Net deferred tax assets $ — $ — |
GOING CONCERN AND BASIS OF PR_2
GOING CONCERN AND BASIS OF PRESENTATION (Details Narrative) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficit | $ 10,704 | $ 358,172 |
Accumulated deficit | $ 6,445,507 | $ 6,752,975 |
SECURED PROMISSORY AND CONVER_2
SECURED PROMISSORY AND CONVERTIBLE NOTES (Details Narrative) - USD ($) | 12 Months Ended | |||||||
Aug. 13, 2021 | Oct. 01, 2020 | Sep. 06, 2019 | Dec. 02, 2018 | Jun. 28, 2017 | Jun. 30, 2022 | Jun. 30, 2021 | Sep. 30, 2021 | |
Debt Instrument [Line Items] | ||||||||
Unsecured debt | $ 4,000 | |||||||
Additional Paid-in Capital [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Beneficial conversion feature | 20,000 | |||||||
Secured Promissory Note [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt instruments principal amount forgiven | $ 205,000 | |||||||
Debt instruments principal interest forgiven | 33,941 | |||||||
Secured Promissory Note [Member] | Accredited Investor [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | $ 50,000 | |||||||
Maturity date | Dec. 02, 2019 | |||||||
Interest rate | 4% | |||||||
Default interest rate | 18% | |||||||
Interest expense | $ 2,391 | $ 9,486 | ||||||
Secured Promissory Note One [Member] | Accredited Investor [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | $ 50,000 | |||||||
Maturity date | Sep. 06, 2020 | |||||||
Interest rate | 4% | |||||||
Default interest rate | 18% | |||||||
Interest expense | 2,391 | 8,134 | ||||||
Secured Promissory Note Two [Member] | Accredited Investor [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | $ 65,000 | |||||||
Maturity date | Oct. 01, 2021 | |||||||
Interest rate | 4% | |||||||
Default interest rate | 18% | |||||||
Interest expense | 655 | 1,944 | ||||||
Secured Promissory Note Three [Member] | Accredited Investor [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | $ 40,000 | |||||||
Maturity date | Aug. 13, 2022 | |||||||
Interest rate | 4% | |||||||
Default interest rate | 18% | |||||||
Interest expense | 470 | |||||||
Unsecured Convertible Promissory Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Aggregate principal amount | $ 20,000 | |||||||
Maturity date | Jun. 27, 2018 | |||||||
Interest rate | 8% | |||||||
Default interest rate | 12% | |||||||
Interest expense | $ 248 | $ 960 | ||||||
Debt instruments principal amount forgiven | 20,000 | |||||||
Debt instruments principal interest forgiven | $ 11,840 | |||||||
Conversion Price | $ 0.75 | |||||||
Carrying value of convertible note | $ 20,000 |
RELATED PARTY ADVANCES AND BA_2
RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Related Party Transaction [Line Items] | ||
Gain on cancellation of third party advances and accrued liabilities | $ 104,760 | |
Due to related parties, current | 22,925 | |
Advances from a shareholder | $ 11,473 | |
Director and Officer [Member] | ||
Related Party Transaction [Line Items] | ||
Related party costs | $ 12,000 |
COMMON AND PREFERRED STOCK TR_2
COMMON AND PREFERRED STOCK TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Subsidiary, Sale of Stock [Line Items] | ||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares issued | 50,315,064 | 315,064 |
Common stock, shares outstanding | 50,315,064 | 315,064 |
Private Placement [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Stock issued during period, shares, new issues | 50,000,000 | |
Gross proceeds from issuance of common stock | $ 40,000 |
SCHEDULE OF PROVISION FOR INCOM
SCHEDULE OF PROVISION FOR INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | ||
Net income (loss) before income taxes | $ 307,468 | $ (102,392) |
Expected income tax expense (recovery) at statutory rates | 64,570 | (21,500) |
Tax rate and other adjustments | ||
Tax effect of non-deductible expenses (taxable items) | (18,900) | 6,300 |
Change in valuation allowance | (45,670) | 15,200 |
Provision for (benefit from) income taxes |
SCHEDULE OF NET DEFERRED TAX AS
SCHEDULE OF NET DEFERRED TAX ASSETS (Details) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 |
Income Tax Disclosure [Abstract] | ||
Net operating loss | $ 407,130 | $ 296,660 |
Valuation allowance | (407,130) | (296,660) |
Net deferred tax assets |