Ajia Innogroup (AJIA) 10-Q 15 May 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2020	May 14, 2020
Document And Entity Information
Entity Registrant Name	Ajia Innogroup Holdings, Ltd.
Entity Central Index Key	0001650739
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		101,120,000
Entity Interactive Data Current	No

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2020	Jun. 30, 2019
Current assets
Cash and cash equivalents	$ 7,007	$ 31,867
Earnest deposit	105,000
Prepayments and other receivables		4,738
Total current assets	112,007	36,605
Non-current assets
Plant and equipment, net	552	696
Total assets	112,559	37,301
Current liabilities
Other payables and accrued liabilities	54,000	28,710
Amount due to a related party	99,866	387,665
Total current liabilities	153,866	416,375
Commitments and contingencies
Stockholders' Deficit
Preferred stock, $0.001 par value, 100,000,000 shares authorized; no shares are issued
Common stock: $0.001 par value, 500,000,000 shares authorized, 101,120,000 & 7,270,000 shares issued and outstanding as of March 31, 2020 and June 30, 2019 respectively	101,120	7,270
Additional paid-in capital	503,550	192,400
Accumulated other comprehensive income (loss)	961	(458)
Accumulated deficit	(646,938)	(578,286)
Total stockholders' deficit	(41,307)	(379,074)
Total liabilities and stockholders' deficit	$ 112,559	$ 37,301

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Dec. 15, 2017	Mar. 19, 2014
Stockholders' Deficit
Preferred stock, par value per share	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized	100,000,000	100,000,000	100,000,000
Preferred stock, shares issued	0	0	0
Common stock, par value per share	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000		500,000,000	75,000,000
Common stock, shares issued	101,120,000	7,270,000
Common stock, shares outstanding	101,020,000	7,270,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited)
Revenue	$ 10,037		$ 30,117	$ 30,000
Cost of sales
Gross profit	10,037		30,117	30,000
Expenses
General and administrative expense	35,496	9,969	165,641	53,232
Professional fees	44,866	25,735	82,611	124,663
Total operating expenses	80,362	35,704	248,252	177,895
Other income
Interest income			3	1
Sundry income	64,387		149,480	126,006
Total other income	64,387		149,483	126,007
Net loss	(5,938)	(35,704)	(68,652)	(21,888)
Other comprehensive income (loss)
Foreign currency translation gain (loss)	167	(46)	1,419	(149)
Comprehensive loss	$ (5,771)	$ (35,750)	$ (67,233)	$ (22,037)
Basic and diluted loss per common share	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding - basic and diluted	101,022,198	7,270,000	86,361,636	9,240,803

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders Deficit (Unaudited) - USD ($)	Total	Common Stock [Member]	Common stock to be cancelled [Member]	Additional Paid-in Capital [Member]	Accumulated other comprehensive income [Member]	Accumulated Deficit [Member]
Balance, shares at Jun. 30, 2018		7,270,000
Balance, amount at Jun. 30, 2018	$ (133,211)	$ 7,270	$ 3,000	$ 189,400	$ 421	$ (333,302)
Foreign currency translation adjustment	(149)				(149)
Shares cancelled	(128,700)		(3,000)	(125,700)
Net loss for the period	$ (21,888)					$ (21,888)
Balance, shares at Dec. 31, 2018		7,270,000
Balance, amount at Dec. 31, 2018	$ (248,198)	$ 7,270		$ 63,700	$ 318	$ (319,486)
Foreign currency translation adjustment	(46)				(46)
Net loss for the period	$ (35,704)					$ (35,704)
Balance, shares at Mar. 31, 2019		7,270,000
Balance, amount at Mar. 31, 2019	$ (283,948)	$ 7,270		$ 63,700	$ 272	$ (355,190)
Balance, shares at Jun. 30, 2019		7,270,000
Balance, amount at Jun. 30, 2019	$ (379,074)	$ 7,270		$ 192,400	$ (458)	$ (578,286)
Foreign currency translation adjustment	1,419				1,419
Net loss for the period	(68,652)					$ (68,652)
Issuance of shares on promissory note, shares		93,750,000
Issuance of shares on promissory note, amount	300,000	$ 93,750		206,250
Issuance of shares as earnest deposit, shares		100,000
Issuance of shares as earnest deposit, amount	$ 105,000	$ 100		$ 104,900
Balance, shares at Dec. 31, 2019		101,020,000
Balance, amount at Dec. 31, 2019	$ (140,536)	$ 101,020		$ 398,650	$ 794	$ (641,000)
Foreign currency translation adjustment	167				167
Net loss for the period						$ (5,938)
Issuance of shares as earnest deposit, shares		100,000
Issuance of shares as earnest deposit, amount	$ 105,000	$ 100		$ 104,900
Balance, shares at Mar. 31, 2020		101,120,000
Balance, amount at Mar. 31, 2020	$ (41,307)	$ 101,120		$ 503,550	$ 961	$ (646,938)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flow from operating activities
Net loss	$ (68,652)	$ (21,888)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	146	145
Changes in Operating Assets and Liabilities:
Decrease in prepayments and other receivables	4,738	2,765
Increase in other payables and accrued liabilities	25,290	27,705
Net cash (used in) provided by operating activities	(38,478)	8,727
Cash flow from financing activities
Advance from a director	12,201	140,934
Cancellation of shares		(128,700)
Net cash provided by financing activities	12,201	12,234
Effect of exchange rate changes on cash and cash equivalents	1,417	(149)
Net (decrease) increase in cash	(24,860)	20,812
Cash, at beginning of period	31,867	1,816
Cash, at end of period	7,007	22,628
Supplemental cash flow information:
Cash paid for interest
Cash paid for income taxes
NON-CASH FINANCING AND INVESTING TRANSACTIONS
Shares issued for the settlement of promissory note	300,000
Shares issued as earnest deposit for potential investment	$ 105,000

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Mar. 31, 2020
BASIS OF PRESENTATION
NOTE 1 - BASIS OF PRESENTATION	The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, the consolidated balance sheet as of June 30, 2019 which has been derived from audited financial statements and these unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended March 31, 2020 are not necessarily indicative of the results to be expected for the entire fiscal year ending June 30, 2020 or for any future period. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended June 30, 2019.

ORGANIZATION AND BUSINESS BACKG

ORGANIZATION AND BUSINESS BACKGROUND	9 Months Ended
	Mar. 31, 2020
ORGANIZATION AND BUSINESS BACKGROUND
NOTE 2 - ORGANIZATION AND BUSINESS BACKGROUND	Ajia Innogroup Holdings, Ltd., formerly “AJIA INNOGROUP HOLDINGS, LTD” (the “Company” or “AJIA”) was incorporated in the State of Nevada on March 19, 2014. The Company had intended to provide a website and mobile app to assist event planners in locating performers, bands and speakers, booking locations and planning events in areas around the United States and Canada. However, The Company changed its business plan in 2017 and is currently planning to pursue the business in having self-help photo kiosks to be implemented at major convenient locations, such as shopping mall, buildings near subway stations, etc. to attract customers to use the service. In addition, the Company provides system development consulting and training services. The main revenue for these businesses will be generated from the self-help photo kiosks at which one can do photo printing, Wechat printing, game commemorative photos, copying documents, etc., as well as from consulting contracts. The details of the Company’s subsidiaries are described below: Name Place of incorporation and kind of legal entity Principal activities and place of operation Particulars of issued/ registered share capital Effective interest Held Splendor Radiant Limited British Virgin Islands, a limited liability company Investment holding 1 issued shares of US$1 each 100 % A Jia Creative Holdings Limited Hong Kong, a limited liability company Provision of system setup and maintenance services, investment holding 100 issued shares of HK$1 each 100 % Guangzhou Shengjia Trading Co., Ltd The PRC, a limited liability company Trading business HK$1,000,000 100 % AJIA and its subsidiaries are hereinafter referred to as (the “Company”)

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	The accompanying condensed consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying condensed consolidated financial statements and notes. • Use of estimates In preparing these condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. • Basis of consolidation The condensed consolidated financial statements include the financial statements of AJIA and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. • Cash and cash equivalents Cash and cash equivalents consist primarily of cash in readily available checking and saving accounts. Cash equivalents consist of highly liquid investments that are readily convertible to cash and that mature within three months or less from the date of purchase. The carrying amounts approximate fair value due to the short maturities of these instruments. • Plant and equipment Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: Expected useful lives Computer equipment 5 years Expenditures for repairs and maintenance are expensed as incurred. When assets have been retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations. Depreciation expense for the three months ended March 31, 2020 and 2019 were $48 and $48, respectively. Depreciation expense for the nine months ended March 31, 2020 and 2019 were $146 and $145, respectively. • Impairment of long-lived assets In accordance with the provisions of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, all long-lived assets such as plant and equipment and intangible assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. There has been no impairment charge for the periods presented. • Revenue recognition The Company’s revenue recognition policies are in compliance with FASB ASC 605-35 “Revenue Recognition”. Revenue is recognized when a formal arrangement exists, the price is fixed or determinable, all obligations have been performed pursuant to the terms of the formal arrangement and collectability is reasonably assured. For the Company’s business in catering system development and training, monthly revenue is recognized when the Company satisfies its obligation by transferring control of the promised goods or performance of services to the customer. The Company recognizes revenues on sales of its services, based on the terms of the customer agreement. The customer agreement takes the form of either a contract or a customer purchase order and each provides information with respect to the service being sold and the sales price. If the customer agreement does not have specific delivery or customer acceptance terms, revenue is recognized at the time the service is provided to the customer. • Comprehensive income or loss ASC Topic 220, “Comprehensive Income” • Income taxes The provision for income taxes is determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company did not have any unrecognized tax positions or benefits and there was no effect on the financial condition or results of operations for the years ended June 30, 2019. The Company and its subsidiaries are subject to local and various foreign tax jurisdictions. The Company’s tax returns remain open subject to examination by major tax jurisdictions. • Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260 “ Earnings per Share • Foreign currencies translation 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 currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is United States Dollars (“US$”). The Company’s subsidiaries operating in Hong Kong and the PRC maintained their books and records in their local currency, Hong Kong Dollars (“HK$”) and Renminbi Yuan (“RMB”), which are functional currencies as being the primary currency of the economic environment in which these entities operate. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement”, Translation of amounts from its reporting currencies into US$ has been made at the following exchange rates for the respective period: 2020 2019 Period-end HK$:US$1 exchange rate 7.7525 7.8493 Period average HK$:US$1 exchange rate 7.8081 7.8396 Period-end RMB:US$1 exchange rate 7.0876 6.7111 Period average RMB:US$1 exchange rate 7.0124 6.8218 • Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. • Concentration of credit risk The Company is subject to credit risk through its accounts receivable consisting primarily of amounts due from franchisees for royalty income, and other products. The financial condition of these franchisees is largely dependent upon the underlying business trends of our brands and market conditions within the vending industry. This concentration of credit risk is mitigated, in part, by the large number of franchisees spread over a large geographical area and the short-term nature of the receivables. • Fair value of financial instruments The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayments and other receivables, accounts payable, amount due to a related party, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. The Company also follows the guidance of the ASC Topic 820-10, “ Fair Value Measurements and Disclosures • Level 1 • Level 2 • Level 3 Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. • Recent accounting pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, “ Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Codification Improvements to Topic 326, Financial Instruments - Credit Losses Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief Codification Improvements to Topic 326, Financial Instruments - Credit Losses Financial Instruments - Credit Losses In January 2017, the FASB issued ASU No. 2017-04, “ Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment In August 2018, the FASB issued ASU No. 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In December 2019, the FASB issued ASU No 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In March 2020, the FASB issued ASU 2020-03, “ Codification Improvements to Financial Instruments In March 2020, the FASB issued ASU No 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s consolidated financial statements upon adoption.

GOING CONCERN UNCERTAINTIES

GOING CONCERN UNCERTAINTIES	9 Months Ended
	Mar. 31, 2020
GOING CONCERN UNCERTAINTIES
NOTE 4 - GOING CONCERN	The accompanying condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has experienced a net loss of $68,652 and negative operating cash flows of $38,478 for the period ended March 31, 2020. Also, at March 31, 2020, the Company has incurred an accumulated deficit of $646,938 and its total current liabilities exceeded its total current assets by $41,859. The continuation of the Company as a going concern through March 31, 2021 is dependent upon the continued financial support from its stockholders. Management believes the Company is currently pursuing additional financing for its operations. In addition, with respect to the ongoing and evolving coronavirus (COVID-19) outbreak, which was designated as a pandemic by the World Health Organization on March 11, 2020, the outbreak has caused substantial disruption in international economies and global trades and if repercussions of the outbreak are prolonged, could have a significant adverse impact on the Company’s business. However, there is no assurance that the Company will be successful in securing sufficient funds to sustain the operations. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets and liabilities that may result in the Company not being able to continue as a going concern.

PREFERRED STOCK AND COMMON STOC

PREFERRED STOCK AND COMMON STOCK	9 Months Ended
	Mar. 31, 2020
PREFERRED STOCK AND COMMON STOCK
NOTE 5 - PREFERRED STOCK AND COMMON STOCK	(A) Preferred stock The Company was authorized to issue one hundred million (100,000,000) shares of preferred stock, par value $0.001 per share. On March 31, 2020 and 2019, none of the preferred shares have been issued. (B) Common stock Shares authorized Upon formation, the total number of shares of all classes of stock which the Company was authorized to issue seventy-five million (75,000,000) shares of common stock, par value $0.001 per share. On December 15, 2017, the Company increased its authorized common shares to 500,000,000 shares at par value $0.001 per share. Common stock issued On July 28, 2018, the Company issued a convertible promissory note in the amount of $300,000 to Full Yick International Ltd, a major shareholder to settle with the related party loan. Pursuant to the terms of the convertible promissory note, the note has an option to convert into 93,750,000 common shares of the Company at $0.0032 per share, on or the earlier of July 31, 2019. On July 31, 2019, Full Yick International Limited exercised their option to convert the $300,000 note into 93,750,000 common shares of the Company, at the price of $0.0032 per share. On August 9, 2019, the Company approved the share issuance of 93,750,000 common shares to Full Yick International Limited. On March 30, 2020, the Company, through its wholly-owned subsidiary entered into a Memorandum of Understanding (“MOU”) with Allied Precision Medicine Consultants Limited ("Allied"), a Hong Kong corporation, in which the Parties have committed to jointly promote stem cell products and services in Hong Kong and Macau. The Company agreed to issue 100,000 shares of its common stock at the current market value of $1.05 per share, to Allied as a non-refundable deposit of $105,000 to anticipate the business collaboration in this project. The Company shall appoint an independent third party to carry out due diligence and valuation of this project. As of March 31, 2020 and June 30, 2019, the Company had a total of 101,120,000 and 7,270,000 shares of its common stock issued and outstanding.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Mar. 31, 2020
RELATED PARTY TRANSACTIONS
NOTE 6 - RELATED PARTY TRANSACTIONS	From time to time, the stockholder and director of the Company advanced funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and due on demand. The imputed interest on the loan from a related party was not significant. As of March 31, 2020, the balance $99,866 represented the loan account of the Director - Wan Yin Ling, which is unsecured, non-interest bearing, and due on demand.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
NOTE 7 - COMMITMENTS AND CONTINGENCIES	As of March 31, 2020, the Company has no material commitments and contingencies.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2020
SUBSEQUENT EVENTS
NOTE 7 - SUBSEQUENT EVENTS	In accordance with ASC Topic 855, “ Subsequent Events On April 7, 2020, the Board of Directors authorized the issuance of 1,000 shares of Series A Preferred Stock to Ms. Yin Ling WAN ("Ms. Wan"), the Company’s Executive Director, Company Secretary and treasurer. Ms. Wan has advance significant capital and expended significant time to the company without compensation. As an effort to give Ms. Wan security for her advances and as a precaution to prevent hostile takeover in future, 1,000 shares of Series A of Preferred Shares ("Preferred Shares") were issued to Ms. Wan. These Preferred Shares have the following features attached: 1) Non-participating in the dividends to the Common Shareholders 2) No Liquidation Preference 3) Voting Rights to include: the right to vote in an amount equal to 51% of the total vote with respect to any proposal relating to (a) increasing the authorized share capital of the Company, (b) effecting any forward stock split of the Company’s authorized, issued or outstanding shares of capital stock, and (c) any other matter subject to a shareholder vote. 4) No conversion rights 5) Redemption Rights: The Series A shares shall be automatically redeemed upon (a) Ms. Wan ceases to serve as an officer or director of the Company, (b) on the date that the Company’s shares or common stock first trade on any national securities exchange. In these circumstances, the Board shall further consider and resolve the treatment of these shares, including but limited to, reissue to other party, forfeiture thereof.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates	In preparing these condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates.
Basis of consolidation	The condensed consolidated financial statements include the financial statements of AJIA and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.
Cash and cash equivalents	Cash and cash equivalents consist primarily of cash in readily available checking and saving accounts. Cash equivalents consist of highly liquid investments that are readily convertible to cash and that mature within three months or less from the date of purchase. The carrying amounts approximate fair value due to the short maturities of these instruments.
Plant and equipment	Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: Expected useful lives Computer equipment 5 years Expenditures for repairs and maintenance are expensed as incurred. When assets have been retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations. Depreciation expense for the three months ended March 31, 2020 and 2019 were $48 and $48, respectively. Depreciation expense for the nine months ended March 31, 2020 and 2019 were $146 and $145, respectively.
Impairment of long-lived assets	In accordance with the provisions of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, all long-lived assets such as plant and equipment and intangible assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. There has been no impairment charge for the periods presented.
Revenue recognition	The Company’s revenue recognition policies are in compliance with FASB ASC 605-35 “Revenue Recognition”. Revenue is recognized when a formal arrangement exists, the price is fixed or determinable, all obligations have been performed pursuant to the terms of the formal arrangement and collectability is reasonably assured. For the Company’s business in catering system development and training, monthly revenue is recognized when the Company satisfies its obligation by transferring control of the promised goods or performance of services to the customer. The Company recognizes revenues on sales of its services, based on the terms of the customer agreement. The customer agreement takes the form of either a contract or a customer purchase order and each provides information with respect to the service being sold and the sales price. If the customer agreement does not have specific delivery or customer acceptance terms, revenue is recognized at the time the service is provided to the customer.
Comprehensive income or loss	ASC Topic 220, “Comprehensive Income”
Income taxes	The provision for income taxes is determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. The Company did not have any unrecognized tax positions or benefits and there was no effect on the financial condition or results of operations for the years ended June 30, 2019. The Company and its subsidiaries are subject to local and various foreign tax jurisdictions. The Company’s tax returns remain open subject to examination by major tax jurisdictions.
Net loss per share	The Company calculates net loss per share in accordance with ASC Topic 260 “ Earnings per Share
Foreign currencies translation	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 currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is United States Dollars (“US$”). The Company’s subsidiaries operating in Hong Kong and the PRC maintained their books and records in their local currency, Hong Kong Dollars (“HK$”) and Renminbi Yuan (“RMB”), which are functional currencies as being the primary currency of the economic environment in which these entities operate. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement”, Translation of amounts from its reporting currencies into US$ has been made at the following exchange rates for the respective period: 2020 2019 Period-end HK$:US$1 exchange rate 7.7525 7.8493 Period average HK$:US$1 exchange rate 7.8081 7.8396 Period-end RMB:US$1 exchange rate 7.0876 6.7111 Period average RMB:US$1 exchange rate 7.0124 6.8218
Related parties	Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.
Concentration of credit risk	The Company is subject to credit risk through its accounts receivable consisting primarily of amounts due from franchisees for royalty income, and other products. The financial condition of these franchisees is largely dependent upon the underlying business trends of our brands and market conditions within the vending industry. This concentration of credit risk is mitigated, in part, by the large number of franchisees spread over a large geographical area and the short-term nature of the receivables.
Fair Value of Financial Instruments	The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayments and other receivables, accounts payable, amount due to a related party, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. The Company also follows the guidance of the ASC Topic 820-10, “ Fair Value Measurements and Disclosures • Level 1 • Level 2 • Level 3 Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.
Recent accounting pronouncements	In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, “ Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Codification Improvements to Topic 326, Financial Instruments - Credit Losses Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief Codification Improvements to Topic 326, Financial Instruments - Credit Losses Financial Instruments - Credit Losses In January 2017, the FASB issued ASU No. 2017-04, “ Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment In August 2018, the FASB issued ASU No. 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In December 2019, the FASB issued ASU No 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes In March 2020, the FASB issued ASU 2020-03, “ Codification Improvements to Financial Instruments In March 2020, the FASB issued ASU No 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s consolidated financial statements upon adoption.

ORGANIZATION AND BUSINESS BAC_2

ORGANIZATION AND BUSINESS BACKGROUND (Tables)	9 Months Ended
	Mar. 31, 2020
ORGANIZATION AND BUSINESS BACKGROUND
Additional funding operation, significant risks and uncertainties description	Name Place of incorporation and kind of legal entity Principal activities and place of operation Particulars of issued/ registered share capital Effective interest Held Splendor Radiant Limited British Virgin Islands, a limited liability company Investment holding 1 issued shares of US$1 each 100 % A Jia Creative Holdings Limited Hong Kong, a limited liability company Provision of system setup and maintenance services, investment holding 100 issued shares of HK$1 each 100 % Guangzhou Shengjia Trading Co., Ltd The PRC, a limited liability company Trading business HK$1,000,000 100 %

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Mar. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Schedule of plant and equipment expected useful lives	Expected useful lives Computer equipment 5 years
Schedule of Foreign currencies translation exchange rates	2020 2019 Period-end HK$:US$1 exchange rate 7.7525 7.8493 Period average HK$:US$1 exchange rate 7.8081 7.8396 Period-end RMB:US$1 exchange rate 7.0876 6.7111 Period average RMB:US$1 exchange rate 7.0124 6.8218

ORGANIZATION AND BUSINESS BAC_3

ORGANIZATION AND BUSINESS BACKGROUND (Details)	9 Months Ended
	Mar. 31, 2020
Splendor Radiant Limited [Member]
Place of incorporation and kind of legal entity	British Virgin Islands, a limited liability company
Company Name	Splendor Radiant Limited
Principal activities and place of operation	Investment holding
Particulars of issued/ registered share capital	1 issued shares of US$1 each
Effective interest Held	100.00%
A JIA Creative Holdings Limited [Member]
Place of incorporation and kind of legal entity	Hong Kong, a limited liability company
Company Name	AJia Creative Holdings Limited
Principal activities and place of operation	Provision of system setup and maintenance services, investment holding
Particulars of issued/ registered share capital	100 issued shares of HK$1 each
Effective interest Held	100.00%
Guangzhou Shengjia Trading Co., Ltd. [Member]
Place of incorporation and kind of legal entity
Company Name	Guangzhou Shengjia Trading Co., Ltd
Principal activities and place of operation	Trading business
Particulars of issued/ registered share capital	HK$1,000,000
Effective interest Held	100.00%

ORGANIZATION AND BUSINESS BAC_4

ORGANIZATION AND BUSINESS BACKGROUND (Details Narrative)	9 Months Ended
	Mar. 31, 2020
ORGANIZATION AND BUSINESS BACKGROUND
State of incorporation	Nevada
Date of incorporation	Mar. 19, 2014

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
	Mar. 31, 2020
Computer Equipment [Member]
Expected useful lives	5 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)	Mar. 31, 2020	Dec. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Period HK$:US$1 exchange rate	7.7525	7.8493
Period average HK$:US$1 exchange rate	7.8081	7.8396
Period RMB:US$1 exchange rate	7.0876	6.7111
Period average RMB:US$1 exchange rate	7.0124	6.8218

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Depreciation expense	$ 48	$ 48	$ 146	$ 145

GOING CONCERN (Detail Narrative

GOING CONCERN (Detail Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
GOING CONCERN (Detail Narrative)
Net loss	$ (5,938)	$ (35,704)	$ (68,652)	$ (21,888)
Net cash (used in)/provided by operating activities			(38,478)	$ 8,727
Accumulated deficit	(646,938)		(646,938)		$ (578,286)
Working capital deficit	$ (41,859)		$ (41,859)

PREFERRED STOCK AND COMMON ST_2

PREFERRED STOCK AND COMMON STOCK (Details Narrative) - USD ($)	Aug. 09, 2019	Jul. 31, 2019	Jul. 28, 2018	Mar. 31, 2020	Mar. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 15, 2017	Mar. 19, 2014
Preferred stock authorized				100,000,000			100,000,000	100,000,000
Preferred stock, par value				$ 0.001			$ 0.001	$ 0.001
Preferred stock, issued				0			0	0
Common stock, authorized				500,000,000			500,000,000				500,000,000	75,000,000
Common stock, par value per share				$ 0.001			$ 0.001	$ 0.001
Common stock, shares issued				101,120,000			7,270,000
Common stock shares outstanding				101,020,000			7,270,000
Shares Issued
Yick International Ltd. [Member]
Price per share		$ 0.0032
Convertible promissory note			$ 300,000
Shares issuable upon conversion of debt			93,750,000
Conversion price per share			$ 0.0032
Shares Issued	93,750,000
Debt conversion, converted instrument, amount		$ 300,000
Exercise of conversion feature, shares		93,750,000
Conversion of Stock, Shares Issued	93,750,000
Memorandum of understanding [Member] | Allied Precision Medicine Consultants Limited [Member]
Common stock, shares issued					100,000
Price per share					$ 1.05
Non-refundable deposit					$ 105,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Narrative) - USD ($)	Mar. 31, 2020	Jun. 30, 2019
Amount due to a related party	$ 99,866	$ 387,665
WanYinLing [Member]
Amount due to a related party	$ 99,866

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - shares	Apr. 07, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Dec. 15, 2017
Preferred stock, shares issued		0	0	0
Preferred stock, shares authorized		100,000,000	100,000,000	100,000,000
Series A Preferred Stock [Member] | WanYinLing [Member] | Subsequent Event [Member]
Preferred stock, shares issued	1,000
Description of preferred stock issued	Voting Rights to include: the right to vote in an amount equal to 51% of the total vote with respect to any proposal relating to (a) increasing the authorized share capital of the Company, (b) effecting any forward stock split of the Company’s authorized, issued or outstanding shares of capital stock, and (c) any other matter subject to a shareholder vote
Preferred stock, shares authorized	1,000