Legacy Ventures International (LGYV) 10-Q 14 Jun 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2024	Jun. 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
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 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 Common Stock, Shares Outstanding		50,315,064

Interim Condensed Balance Sheet

Interim Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Current assets
Cash	$ 842	$ 1,678
Prepayment		509
Total assets	842	2,187
Current liabilities
Accounts payable and accrued liabilities	20,843	38,602
Total liabilities	97,744	74,770
Stockholders’ deficiency
Preferred Stock, $0.0001 par value; 10,000,000 shares authorized: Preferred Stock – no shares issued and outstanding March 31, 2024, and June 30, 2023
Common Stock, $0.0001 par value; 100,000,000 shares authorized: Common Stock – 50,315,064 shares issued and outstanding March 31, 2024 and June 30, 2023	5,032	5,032
Additional paid in capital	6,429,771	6,429,771
Accumulated deficit	(6,531,705)	(6,507,386)
Total stockholders’ deficiency	(96,902)	(72,583)
Total liabilities and stockholders’ deficiency	842	2,187
Majority Shareholder [Member]
Current liabilities
Advances from a shareholder	$ 76,901	$ 36,168

Interim Condensed Balance She_2

Interim Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Jun. 30, 2023
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	50,315,064
Common stock, shares outstanding	50,315,064	50,315,064

Interim Condensed Statements of

Interim Condensed Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Operating expenses
Professional fees	$ 5,500	$ 7,665	$ 16,500	$ 27,300
Other general and administration expenses	1,312	3,320	7,824	10,143
Loss from operations	(6,812)	(10,985)	(24,324)	(37,443)
Other income (expenses)
Exchange gain	5		5
Bank charges and other				(150)
Total other income (expenses)	5		5	(150)
Loss before taxes	(6,807)	(10,985)	(24,319)	(37,593)
Net loss income and comprehensive loss income	$ (6,807)	$ (10,985)	$ (24,319)	$ (37,593)
Net (loss) income per share - basic	$ 0	$ 0	$ 0	$ 0
Net (loss) income per share - diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding - basic	50,315,064	50,315,064	50,315,064	50,315,064
Weighted average number of common shares outstanding - diluted	50,315,064	50,315,064	50,315,064	50,315,064

Interim Condensed Statements _2

Interim Condensed Statements of Stockholders' Deficiency (Unaudited) - USD ($)	3 Months Ended						9 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023
Balance	$ (90,095)	$ (79,327)	$ (72,583)	$ (37,312)	$ (20,517)	$ (10,704)	$ (72,583)	$ (10,704)
Net loss	(6,807)	(10,768)	(6,744)	(10,985)	(16,795)	(9,813)	(24,319)	(37,593)
Balance	(96,902)	(90,095)	(79,327)	(48,297)	(37,312)	(20,517)	(96,902)	(48,297)
Common Stock [Member]
Balance	$ 5,032	$ 5,032	$ 5,032	$ 5,032	$ 5,032	$ 5,032	$ 5,032	$ 5,032
Balance, shares	50,315,064	50,315,064	50,315,064	50,315,064	50,315,064	50,315,064	50,315,064	50,315,064
Net loss
Balance	$ 5,032	$ 5,032	$ 5,032	$ 5,032	$ 5,032	$ 5,032	$ 5,032	$ 5,032
Balance, shares	50,315,064	50,315,064	50,315,064	50,315,064	50,315,064	50,315,064	50,315,064	50,315,064
Additional Paid-in Capital [Member]
Balance	$ 6,429,771	$ 6,429,771	$ 6,429,771	$ 6,429,771	$ 6,429,771	$ 6,429,771	$ 6,429,771	$ 6,429,771
Net loss
Balance	6,429,771	6,429,771	6,429,771	6,429,771	6,429,771	6,429,771	6,429,771	6,429,771
Retained Earnings [Member]
Balance	(6,524,898)	(6,514,130)	(6,507,386)	(6,472,115)	(6,455,320)	(6,445,507)	(6,507,386)	(6,445,507)
Net loss	(6,807)	(10,768)	(6,744)	(10,985)	(16,795)	(9,813)
Balance	$ (6,531,705)	$ (6,524,898)	$ (6,514,130)	$ (6,483,100)	$ (6,472,115)	$ (6,455,320)	$ (6,531,705)	$ (6,483,100)

Interim Condensed Statements _3

Interim Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended
	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (6,807)	$ (6,744)	$ (10,985)	$ (9,813)	$ (24,319)	$ (37,593)
Changes in non-cash operating assets and liabilities
Prepayment					509	(509)
Accounts payable and accrued liabilities					(17,759)	(2,370)
Net cash flows used in operating activities					(41,569)	(40,472)
CASH FLOWS FROM FINANCING ACTIVITY:
Advances from a shareholder					40,733	21,495
Net cash flows provided by financing activity					40,733	21,495
Decrease in cash					(836)	(18,977)
Cash, beginning of period		$ 1,678		$ 21,017	1,678	21,017
Cash, end of period	$ 842		$ 2,040		842	2,040
Cash payments for:
Interest
Income taxes

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Mar. 31, 2024
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.

GOING CONCERN AND BASIS OF PRES

GOING CONCERN AND BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2024
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 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. As of March 31, 2024, the Company has a working capital deficiency of $ 96,902 72,583 6,531,705 6,507,386

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS SIGNIFICANT ACCOUNTING POLICIES The Company’s significant accounting policies have not changed from the year ended June 30, 2023. The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10–Q and Rule 10 of Regulation S–X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these unaudited condensed interim financial statements. These unaudited condensed interim financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10–K for the fiscal year ended June 30, 2023, as filed with the SEC on September 28, 2023. Operating results for the nine months ended March 31, 2024, are not necessarily indicative of the results that may be expected for any subsequent quarter or for the year ending June 30, 2024. LEGACY VENTURES INTERNATIONAL, INC. NOTES TO THE UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS (Expressed in US dollars) (Unaudited)

RELATED PARTY ADVANCES AND BALA

RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES	9 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES	NOTE 4 – RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES For the nine months ended March 31, 2024, there is an advance from a shareholder of $ 40,733 21,495 76,901 36,168

BASIC AND DILUTED NET INCOME (L

BASIC AND DILUTED NET INCOME (LOSS) PER SHARE	9 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
BASIC AND DILUTED NET INCOME (LOSS) PER SHARE	NOTE 5 - BASIC AND DILUTED NET INCOME (LOSS) PER SHARE The Company follows ASC Topic 260 to account for the income (loss) per share. Basic income (loss) per common share (“EPS”) calculations are determined by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted income (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 nine months ended March 31, 2024 and 2023.

COMMON AND PREFERRED STOCK TRAN

COMMON AND PREFERRED STOCK TRANSACTIONS	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
COMMON AND PREFERRED STOCK TRANSACTIONS	NOTE 6 - COMMON AND PREFERRED STOCK TRANSACTIONS As of March 31, 2024, the Company was authorized to issue 10,000,000 0.0001 100,000,000 0.0001 There were no common stock transactions for the nine months ended March 31, 2024 and 2023. As of March 31, 2024, and June 30, 2023, the Company had 50,315,064

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 - 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 March 31, 2024 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)	9 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES The Company’s significant accounting policies have not changed from the year ended June 30, 2023. The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10–Q and Rule 10 of Regulation S–X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these unaudited condensed interim financial statements. These unaudited condensed interim financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10–K for the fiscal year ended June 30, 2023, as filed with the SEC on September 28, 2023. Operating results for the nine months ended March 31, 2024, are not necessarily indicative of the results that may be expected for any subsequent quarter or for the year ending June 30, 2024.

GOING CONCERN AND BASIS OF PR_2

GOING CONCERN AND BASIS OF PRESENTATION (Details Narrative) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital deficit	$ 96,902	$ 72,583
Accumulated deficit	$ 6,531,705	$ 6,507,386

RELATED PARTY ADVANCES AND BA_2

RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Related Party Transaction [Line Items]
Advance from share holders	$ 40,733	$ 21,495
Majority Shareholder [Member]
Related Party Transaction [Line Items]
Due to shareholder	$ 76,901		$ 36,168

COMMON AND PREFERRED STOCK TR_2

COMMON AND PREFERRED STOCK TRANSACTIONS (Details Narrative) - $ / shares	Mar. 31, 2024	Jun. 30, 2023
Equity [Abstract]
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	50,315,064
Common stock, shares outstanding	50,315,064	50,315,064