Forza Innovations (FORZ) 10-Q 2 Jun 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2020	May 31, 2021
Document And Entity Information
Entity Registrant Name	Genesys Industries, Inc.
Entity Central Index Key	0001683131
Document Type	10-Q
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth	false
Entity Shell Company?	false
Entity Common Stock, Shares Outstanding		28,100,000
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Entity Incorporation, State or Country Code	WY
Entity File Number	000-56131
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2020	Jun. 30, 2020
Current assets:
Cash	$ 222,249	$ 174,879
Accounts receivable	50,180	86,375
Total current assets	272,429	261,254
Machinery and equipment, net	350,799	360,431
Real property & plant, net	220,141	226,553
Total Assets	843,369	848,238
Current Liabilities:
Accounts payable and accrued liabilities	43,199	63,868
Accrued interest, related party	18,120	11,279
Accrued compensation	5,144	6,548
Lines of credit - current portion	85,883	37,547
Loans payable - current portion	82,659	47,377
Convertible note payable, net of discount of $0 and $12,500, respectively	150,000	137,500
Due to related party	122,729	122,729
Total current liabilities	507,734	426,848
Long term liabilities:
Line of credit	50,809	70,246
Loans payable	231,551	290,734
Total liabilities	790,094	787,828
Commitments and contingencies
Stockholders' equity (deficit)
Class B Preferred stock, $0.001 par value, 25,000,000shares authorized, 10,000,000 and 10,000,000 issued and outstanding, respectively	10,000	10,000
Common stock, $0.001 par value, 100,000,000 shares authorized; 18,100,000 shares issued and outstanding	18,100	18,100
Additional paid-in capital	383,900	383,900
Accumulated deficit	(358,725)	(351,590)
Total stockholders' equity	53,275	60,410
Total liabilities and stockholders' Equity	$ 843,369	$ 848,238

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Dec. 31, 2020	Jun. 30, 2020
Debt discount	$ 0	$ 12,500
Common Stock Par Value	$ 0.001	$ 0.001
Common Stock Shares Authorized	100,000,000	100,000,000
Common Stock Shares Issued	18,100,000	18,100,000
Common Stock Shares Outstanding	18,100,000	18,100,000
Class B Preferred Stock
Preferred Stock Par Value	$ 0.001	$ 0.001
Preferred Stock Shares Authorized	25,000,000	25,000,000
Preferred Stock Shares Issued	10,000,000	10,000,000
Preferred Stock Shares Outstanding	10,000,000	10,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 160,292	$ 133,923	$ 339,348	$ 274,874
Cost of revenue	130,303	75,326	244,063	168,804
Gross Margin	29,989	58,597	95,285	106,070
Operating Expenses:
Professional fees	6,600	14,800	6,600	19,805
Payroll expense	15,437	21,991	30,505	28,780
General & administrative expenses	13,484	21,026	29,819	39,478
Total operating expenses	35,521	57,817	66,924	88,063
(Loss) income from operations	(5,532)	780	28,361	18,007
Other expense:
Interest expense	(9,263)	(7,953)	(35,496)	(14,897)
Loss on issuance of common stock	0	(40,000)	0	(40,000)
Total other expense	(9,263)	(47,953)	(35,496)	(54,897)
Loss before income taxes	(14,795)	(47,173)	(7,135)	(36,890)
Provision for income taxes	0	2,802	0	2,802
Net Loss	$ (14,795)	$ (44,371)	$ (7,135)	$ (34,088)
Net Loss Per Common Share, basic & diluted	$ 0	$ 0	$ 0	$ 0
Weighted Common Shares Outstanding, basic & diluted	18,100,000	17,967,446	18,100,000	18,026,630

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock	Preferred Stock	Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Shares at Jun. 30, 2019	17,870,000	10,000,000
Beginning Balance, Amount at Jun. 30, 2019	$ 17,870	$ 10,000	$ 101,130	$ (30,582)	$ 98,418
Common stock issued for services, Shares	130,000
Common stock issued for cash, Value	$ 130		12,870		13,000
Net income (Loss)				7,481	7,481
Ending Balance, shares at Sep. 30, 2019	18,000,000	10,000,000
Ending Balance, Amount at Sep. 30, 2019	$ 18,000	$ 10,000	114,000	(23,101)	118,899
Net income (Loss)				(44,371)	(44,371)
Ending Balance, shares at Dec. 31, 2019	18,000,000	10,000,000
Ending Balance, Amount at Dec. 31, 2019	$ 18,000	$ 10,000	114,000	(67,472)	144,528
Beginning Balance, Shares at Jun. 30, 2020	18,000,000	10,000,000
Beginning Balance, Amount at Jun. 30, 2020	$ 18,100	$ 10,000	383,900	(351,590)	60,410
Net income (Loss)				7,660	7,660
Ending Balance, shares at Sep. 30, 2020	18,000,000	10,000,000
Ending Balance, Amount at Sep. 30, 2020	$ 18,100	$ 10,000	383,900	(343,930)	68,070
Net income (Loss)				(14,795)	(14,795)
Ending Balance, shares at Dec. 31, 2020	18,000,000	10,000,000
Ending Balance, Amount at Dec. 31, 2020	$ 18,100	$ 10,000	$ 383,900	$ (358,725)	$ 53,275

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net Income	$ (7,135)	$ (34,088)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation expense	48,818	31,516
Stock compensation expense	0	43,000
Loss on issuance of common stock	0	40,000
Debt discount amortization	12,500	0
Changes in operating assets and liabilities:
Accounts receivable	36,195	(32,713)
Inventory	0	(1,217)
Accounts payable and accruals	(21,905)	17,663
Accrued interest, related party	6,841	2,755
Net cash provided by operating activities	75,314	25,630
Cash flows from investing activities:
Purchase of property and equipment	(32,774)	(158,886)
Net cash used in investing activities	(32,774)	(158,886)
Cash flows from financing activities:
Proceeds from loan payable	63,743	108,147
Advances from a related party	0	20,600
Payments on line of credit	(34,844)	(17,441)
Principal payment on mortgage	(6,237)	(5,055)
Principal payment on loan payable	(17,832)	(26,211)
Net cash provided by financing activities	4,830	80,040
Net increase (decrease) in cash	47,370	(53,216)
Cash, beginning of period	174,879	170,206
Cash, end of period	222,249	116,990
Supplemental disclosure of cash flow information:
Cash paid for interest	12,203	7,559
Cash paid for taxes	$ 0	$ 0

Nature of Operations

Nature of Operations	6 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NOTE 1 - NATURE OF OPERATIONS Genesys Industries, Inc. (the “Company”), was incorporated on December 9, 2014 under the laws of the State of Florida. Genesys Industries is a diversified multi-industry manufacturer of complex metal components and products. We serve all general industrial markets such as Aerospace, Automotive, Commercial, Food Processing, Industrial, Maritime, Medical, Railroad, Oil and Gas, Packaging, Telecom, Textiles, Robotics, Space Travel, Transportation and many more. We are a vertically integrated precision CNC manufacturing and fabrication company with core emphasis on product design, engineering and precision manufacturing of complex components and products. On February 5, 2018, the Company formed Genesys Industries, LLC as a wholly owned subsidiary in the state of Missouri. The Company’s headquarters are in Palmetto, Florida. The Company has adopted its fiscal year end to be June 30.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at December 31, 2020 and for the related periods presented have been made. The results for the six months ended December 31, 2020 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2020, filed with the Securities and Exchange Commission Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Genesys Industries, LLC, and been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated. Inventories Inventories are valued at the lower of cost or market. Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower. Property, Plant and Equipment Property and equipment are carried at the lower of cost or net realizable value. Major betterments that extend the useful lives of assets are also capitalized. Normal maintenance and repairs are charged to expense as incurred. When assets are sold or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in operations. Website development Website development is carried at cost. Major betterments that would extend the useful life are capitalized. Normal maintenance and repairs are charged to expense as incurred. When assets are sold or otherwise disposed of, the cost and accumulated amortization are removed from the accounts and any resulting gain or loss is recognized in operations. Website development costs are being amortized on a straight-line basis over three years. Accounts Receivable Revenues that have been recognized but not yet received are recorded as accounts receivable. Losses on receivables will be recognized when it is more likely than not that a receivable will not be collected. An allowance for estimated uncollectible amounts will be recognized to reduce the amount of receivables to its net realizable value. The allowance for uncollectible amounts is evaluated quarterly. Revenue Recognition Revenue is recognized goods are shipped or services performed and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The company recognizes revenue when all performance obligations are completed, and the risk of loss is transferred to the customer upon shipment. During the three and six months ended , 2020, the Company recognized $131,315 or 82% and $265,000 or 78% of sales from its largest customer, respectively. During the six months ended , 2019, the Company recognized $63,605 and $162,683 of sales from its two largest customers, representing 22.4%, and 57.4%, respectively, of total sales. Right of Return From time to time, the company in the normal course of business encounters product returns. The company policy is to identify the reason of return and to either replace product, rework product or cancel the order at the request of the customer. As of December 31, 2020, and June 30, 2020, there were no substantial claims for rework or replacement in the normal course of business. Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Going Concern

Going Concern	6 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 3 - GOING CONCERN The accompanying unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the unaudited accompanying consolidated financial statements, the Company has experienced a significant increase in revenue since commencing it operations in 2018. As of December 31, 2020, the Company has an accumulated deficit of $358,725. For the six months ended December 31, 2020 we had a net loss of $7,135 and received cash from operations of $75,314. Although the Company’s financial position is steadily improving our operations are still relatively new, circumstances may still occur that would raise substantial doubt about the Company’s ability to continue as a going concern. While the Company is successfully executing its growth strategy, its cash position may not still be sufficient to support the Company’s daily operations without additional financing. While the Company believes in the viability of its strategy to produce sales volume and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenues. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern.

Property, Plant & Equipment

Property, Plant & Equipment	6 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property, Plant & Equipment	NOTE 4 – PROPERTY, PLANT & EQUIPMENT Long lived assets, including property and equipment and certain intangible assets to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Impairment losses are recognized if expected future cash flows of the related assets are less than their carrying values. Measurement of an impairment loss is based on the fair value of the asset. Long-lived assets and certain identifiable intangibles to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. Property and Equipment and intangible assets are first recorded at cost. Depreciation and/or amortization is computed using the straight-line method over the estimated useful lives of the various classes of assets between three and five years. Leasehold improvements are being depreciated over ten years, and the building over twenty years. Maintenance and repair expenses, as incurred, are charged to expense. Betterments and renewals are capitalized in plant and equipment accounts. Cost and accumulated depreciation applicable to items replaced or retired are eliminated from the related accounts with any gain or loss on the disposition included as income. Intangible assets stated at cost, less accumulated amortization consisted of the following: December 31, 2020 June 30, 2020 Website development $ 1,850 $ 1,850 Less: accumulated amortization (1,850 ) (1,850 ) Website development, net $ — $ — Amortization expense Amortization expense for the six months December 31, 2020 and 2019 was $0 and $0, respectively. Property, Plant and equipment stated at cost, less accumulated depreciation consisted of the following: December 31, 2020 June 30, 2020 Leasehold Improvements $ 100,965 $ 100,965 Machinery and Equipment 386,662 353,888 Real Property & Plant 256,443 256,443 Less: accumulated depreciation (173,130 ) (124,312 ) Fixed assets, net $ 570,940 $ 586,984 Depreciation expense Depreciation expense for the six months ended December 31, 2020 and 2019 was $48,818 and $31,516, respectively.

Lines of Credit

Lines of Credit	6 Months Ended
	Dec. 31, 2020
Line of Credit Facility [Abstract]
Lines of Credit	NOTE 5 – LINES OF CREDIT The Company has established a line of credit with a commercial bank in the amount of $50,000. This is a revolving business line of credit (BLOC) and bears a fixed interest rate of 7%. The company has also established a corporate business credit card for use in travel related purposes. That line of credit is established at $20,000. The company has also established a renewable Bank Term Loan Facility in the approximate amount of $200,000 with a fixed interest rate of 5%. Total consolidated revolving credit available under all credit arrangements is approximately $270,000. On March 9, 2018, the Company obtained a $180,000 loan against the bank term loan. The loan has a term of five years and required interest only payments of $600 until May 26, 2018, thereafter payments of principal and interest of $3,396.82. As of December 31, 2020 and June 30, 2020 the balance on the loan is $89,304 and $107,793, respectively. Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 $ 19,008 2022 42,071 2023 31,150 Total $ 92,229 On September 3, 2020, the Company obtained a $26,400 loan against its LOC with the bank. During the six months ended work December 31, 2020 the Company borrowed an additional $37,343. As of December 31, 2020 and June 30, 2020 the balance on the loan is $47,388, and $0, respectively.

Loan Payable

Loan Payable	6 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Loan Payable	NOTE 6 – LOAN PAYABLE On February 28, 2018, the Company purchased certain real property and approximately 2 acres of land in Missouri. The total acquisition cost including all closing costs and fees was $256,443. The purchase price was partially financed with a $200,000 loan from the company’s primary bank. The loan has a term of 5-years, at an interest rate of 4.09% and requires monthly payments of interest and principal of $1,494.59 with a final payment of approximately $148,063 due March 1, 2023. As of December 31, 2020, and June 30, 2020, the balance on the loan is $170,995 and $177,232, respectively. Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 $ 8,968 2022 17,935 2023 158,913 Total $ 185,816 In September 2019 the Company purchased equipment to be used in their operations for a total acquisition price of $87,000. The equipment was purchased with a combination of cash and loan financing. The Company obtained a loan for $70,147. The loan, dated August 12, 2019, matures on August 12, 2024, bears interest at 6.6% per annum and requires monthly payments of interest and principal of $1,379.09. As of December 31, 2020 and June 30, 2020, the balance on the loan is $53,678 and $60,027, respectively. Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 $ 8,275 2022 $ 16,549 2023 $ 16,549 2024 $ 16,549 2025 $ 2,518 Total $ 60,440 On December 18, 2019, the Company received a $38,000 loan disbursement from American Express. The loan bears interest at 8.98% per annum, is to be paid in full by December 23, 2022 and requires monthly payments of interest and principal of $1,208.23. As of December 31, 2020 and June 30, 2020, the balance on the loan is $26,448 and $32,352, respectively. Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 $ 7,249 2022 14,499 2023 7,240 Total $ 28,988 On March 27, 2020, the Company received a $37,000 loan disbursement from American Express. The loan bears interest at 8.98% per annum, is to be paid in full by April 1, 2023 and requires monthly payments of interest and principal of $1,176.43. As of December 31, 2020 and June 30, 2020 the balance on the loan is $29,615 and $35,195, respectively. Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 8,235 2022 14,117 2023 11,748 Total $ 34,100 On April 21, 2020, the Company received a Paycheck Protection Program loan under the CARES Act for $33,237.50 (the “PPP Loan”). The Paycheck Protection Program provides that the use of PPP Loan proceeds are limited to certain qualifying expenses and may be partially or wholly forgiven in accordance with the requirements set forth in the CARES Act. The Company currently intends to use the PPP Loan for permitted uses, although no assurance can be given that the Company will obtain forgiveness of all or any portion of amounts due under the PPP Loan. If not forgiven the loan bears interest at 1% per annum and matures in five years.

Convertible Debt

Convertible Debt	6 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Convertible Debt	NOTE 7 – CONVERTIBLE DEBT On January 2, 2020, the Company executed a 10% convertible promissory note in which it agreed to borrow up to $300,000. The note is convertible at a price per share equal to the lower of (a) the Fixed Conversion Price (which is fixed at a price equal to $0.30); or (b) 80% of the lowest trading price of the Company’s common stock during the 5 consecutive trading days prior to the date on which lender elects to convert all or part of the Note.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	NOTE 8 - STOCKHOLDERS’ EQUITY Preferred stock Preferred stock includes 25,000,000 shares of authorized at a par value of $0.001. Preferred stock includes 25,000,000 shares of Class B authorized at a par value of $0.001. The Preferred Stock constitutes a convertible stock in which (1) one Preferred Share is convertible into (5) five Common Shares. The Preferred Stockholders are entitled to vote on any matters on which the common stock holders are entitled to vote.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 9 - RELATED PARTY TRANSACTIONS On November 5, 2017, to fund its working capital requirements the Company obtained a Special Line of Credit (“LOC”) also recognized as a Blanket Secured Promissory Note for the total draw down amount of up to $500,000, from Twiga Capital Partners, LLC (“TCP”), an entity controlled by the Company’s sole officer and largest stockholder, Shefali Vibhakar. This Note is secured by all of the assets of the Company in accordance with the Security Agreement by and between the Company and the Holder dated as of November 5, 2017. The LOC bears interest at 5% per annum and is due on demand. As of December 31, 2020 and June 30, 2020, the Company owed $122,729 and $122,729 of principal and $18,120 and $11,279 of accrued interest on the LOC, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 10 - SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued and has determined that it has the following material subsequent events to disclose in these financial statements. On January 21, 2021, Shefali Vibhakar, President of the Company closed a Share Purchase Agreement (the “Agreement”) that she entered into with Johnny Forzani to sell all of her 17,000,000 common shares and 10,000,000 preferred shares to Johnny Forzani for cash consideration of $177,000. Further, as part of the Agreement, Ms. Vibhakar agrees to spin out all of the Company’s assets (except for certain machinery valued at $40,000 – which is subject to a separate purchase agreement) as well as all of the Company’s liabilities (except the Company’s note with Tangiers Capital, LLC). The value date of the assets and liabilities will be January 21, 2021. On January 21, 2021, a change in control of the Company occurred pursuant to the Agreement. Mr. Forzani now has voting control over 93.9% of the Company’s issued and outstanding common stock. On January 21, 2021, the Company received the resignation of Shefali Vibhakar as the Company’s President, Chief Executive Officer, Treasurer, Chief Financial Officer, Secretary and Director and appointed Johnny Forzani as its President, Chief Executive Officer, Treasurer, Chief Financial Officer and Secretary. Effective January 21, 2021, the Company’s new address is 30 Forzani Way NW, Calgary, Alberta, Canada T3Z 1L5. On January 21, 2021, the Company entered into an acquisition agreement with Mr. Forzani to acquire all of the ownership and the rights to certain late developmental stage products, including the J4 Sport, J4 X and J4 Fitbelt in exchange for the issuance of 10,000,000 common shares. As a result of this acquisition, the Company is moving out of the precision CNC manufacturing and fabrication business and moving into the health-tech wearable performance business. On February 17, 2021, the Company filed Articles of Continuance with the Secretary of State for the state of Wyoming. Accordingly, the Company transferred its state of formation from Florida to Wyoming and became a Wyoming entity. On February 18, 2021, the Company filed a Certificate of Dissolution with the Secretary of State for the State of Florida, effectively dissolving the Company's existence in Florida. On February 19, 2021, the Company filed a Definitive 14C in order to ratify the written consent received from one shareholder, holding 96.1% of our voting power to: (1) to amend the Company’s Articles of Incorporation, as amended (the “Articles”) to change our corporate name from Genesys Industries, Inc. to Forza Innovations Inc. (the “Name Change”); (2)to amend the Articles to increase the number of authorized shares of Class A Common Stock we may issue from 100,000,000 to 700,000,000 (the “Share Increase”); and, (3) to increase the number of the Company's total issued and outstanding shares of Class A Common Stock by conducting a forward stock split at the rate of 10 shares every 1 share currently issued and outstanding (the “Forward Split”). FINRA has reviewed the Company’s submission of the Name Change, the Share Increase and the Forward Split and is waiting to process as soon as the Company becomes current with its SEC filings.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at December 31, 2020 and for the related periods presented have been made. The results for the six months ended December 31, 2020 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2020, filed with the Securities and Exchange Commission
Use of estimates	Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment. Actual results could differ from those estimates.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Genesys Industries, LLC, and been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated.
Inventories	Inventories Inventories are valued at the lower of cost or market. Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower.
Property, Plant and Equipment	Property, Plant and Equipment Property and equipment are carried at the lower of cost or net realizable value. Major betterments that extend the useful lives of assets are also capitalized. Normal maintenance and repairs are charged to expense as incurred. When assets are sold or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in operations.
Website development	Website development Website development is carried at cost. Major betterments that would extend the useful life are capitalized. Normal maintenance and repairs are charged to expense as incurred. When assets are sold or otherwise disposed of, the cost and accumulated amortization are removed from the accounts and any resulting gain or loss is recognized in operations. Website development costs are being amortized on a straight-line basis over three years.
Accounts Receivable	Accounts Receivable Revenues that have been recognized but not yet received are recorded as accounts receivable. Losses on receivables will be recognized when it is more likely than not that a receivable will not be collected. An allowance for estimated uncollectible amounts will be recognized to reduce the amount of receivables to its net realizable value. The allowance for uncollectible amounts is evaluated quarterly.
Revenue Recognition	Revenue Recognition Revenue is recognized goods are shipped or services performed and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The company recognizes revenue when all performance obligations are completed, and the risk of loss is transferred to the customer upon shipment. During the three and six months ended , 2020, the Company recognized $131,315 or 82% and $265,000 or 78% of sales from its largest customer, respectively. During the six months ended , 2019, the Company recognized $63,605 and $162,683 of sales from its two largest customers, representing 22.4%, and 57.4%, respectively, of total sales.
Right of Return	Right of Return From time to time, the company in the normal course of business encounters product returns. The company policy is to identify the reason of return and to either replace product, rework product or cancel the order at the request of the customer. As of December 31, 2020, and June 30, 2020, there were no substantial claims for rework or replacement in the normal course of business.
Recently Adopted Accounting Standards	Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Property, Plant & Equipment (Ta

Property, Plant & Equipment (Tables)	6 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Intangible assets	Intangible assets stated at cost, less accumulated amortization consisted of the following: December 31, 2020 June 30, 2020 Website development $ 1,850 $ 1,850 Less: accumulated amortization (1,850 ) (1,850 ) Website development, net $ — $ —
Property, Plant & Equipment	Property, Plant and equipment stated at cost, less accumulated depreciation consisted of the following: December 31, 2020 June 30, 2020 Leasehold Improvements $ 100,965 $ 100,965 Machinery and Equipment 386,662 353,888 Real Property & Plant 256,443 256,443 Less: accumulated depreciation (173,130 ) (124,312 ) Fixed assets, net $ 570,940 $ 586,984

Lines of Credit (Tables)

Lines of Credit (Tables)	6 Months Ended
	Dec. 31, 2020
Line of Credit [Member]
Future minimun payments of principal and interest	Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 $ 19,008 2022 42,071 2023 31,150 Total $ 92,229

Loan Payable (Tables)

Loan Payable (Tables)	6 Months Ended
	Dec. 31, 2020
Real Property
Future minimun payments of principal and interest	Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 $ 8,968 2022 17,935 2023 158,913 Total $ 185,816
Equipment
Future minimun payments of principal and interest	Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 $ 8,275 2022 $ 16,549 2023 $ 16,549 2024 $ 16,549 2025 $ 2,518 Total $ 60,440
Loan Disbursement
Future minimun payments of principal and interest	Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 $ 7,249 2022 14,499 2023 7,240 Total $ 28,988
Loan Disbursement #2
Future minimun payments of principal and interest	Future minimum payments of principal and interest for the fiscal years ended are as follows: Fiscal Year Amount 2021 8,235 2022 14,117 2023 11,748 Total $ 34,100

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Sales	$ 160,292	$ 133,923	$ 339,348	$ 274,874
Largest Customer [Member]
Sales	$ 131,315		$ 265,000
Sales Percentage	82.00%		78.00%
Customer 1 [Member]
Sales				$ 63,605
Sales Percentage				22.40%
Customer 2 [Member]
Sales				$ 162,683
Sales Percentage				57.40%

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Deficit	$ (358,725)		$ (351,590)
Revenues	7,135
Cash received from operations	$ 75,314	$ 25,630

Property, Plant & Equipment - I

Property, Plant & Equipment - Intangible assets stated at cost, less accumulated amortization (Details) - USD ($)	Dec. 31, 2020	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Website development	$ 1,850	$ 1,850
Less: accumulated amortization	(1,850)	(1,850)
Website development, net	$ 0	$ 0

Property, Plant & Equipment - P

Property, Plant & Equipment - Property, Plant and equipment stated at cost, less accumulated depreciation (Details) - USD ($)	Dec. 31, 2020	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Leasehold Improvements	$ 100,965	$ 100,965
Machinery and Equpment	386,662	353,888
Real Property & Plant	256,443	256,443
Less: accumulated depreciation	(173,130)	(124,312)
Fixed assets, net	$ 570,940	$ 586,984

Property, Plant & Equipment (De

Property, Plant & Equipment (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Amortization expense	$ 0	$ 0
Depreciation Expense	$ 48,818	$ 31,516

Lines of Credit - Future minimu

Lines of Credit - Future minimum payments of principal and interest (Details)	Dec. 31, 2020USD ($)
Line of Credit Facility [Abstract]
2021	$ 19,008
2022	42,071
Thereafter	31,150
Total	$ 92,229

Line of Credit (Details Narrati

Line of Credit (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended	56 Months Ended
	May 26, 2018	Dec. 31, 2020	Mar. 09, 2023	Sep. 03, 2020	Jun. 30, 2020	Mar. 09, 2018
Consolidated revolving credit		$ 270,000
Loan		89,304			$ 107,793
Commercial Bank
Consolidated revolving credit		$ 50,000
Interest rate		7.00%
Credit Card
Consolidated revolving credit		$ 20,000
Bank Term Loan Facility
Consolidated revolving credit		$ 200,000
Interest rate		5.00%
Loan						$ 180,000
Interest payments	$ 600
Principal and interest payments			$ 3,397
Bank
Line of credit		$ 47,388		$ 26,400	$ 0
Proceeds from line of Credit		$ 37,343

Loan Payable - Future minimum p

Loan Payable - Future minimum payments of principal and interest (Details)	Dec. 31, 2020USD ($)
Real Property
2021	$ 8,968
2022	17,935
2023	158,913
Total	185,816
Equipment
2021	8,275
2022	16,549
2023	16,549
2024	16,549
2025	2,518
Total	60,440
Loan Disbursement
2021	7,249
2022	14,499
2023	7,240
Total	28,988
Loan Disbursement #2
2021	8,235
2022	14,117
2023	11,748
Total	$ 34,100

Loan Payable (Details Narrative

Loan Payable (Details Narrative) - USD ($)	6 Months Ended
	Dec. 31, 2020	Mar. 01, 2023	Jun. 30, 2020
Principal amount	$ 125,000
Loan Payable	82,659		$ 47,377
Real Property
Acquisition cost	256,443
Principal amount	$ 200,000
Interest rate	4.09%
Interest and principal payments	$ 1,495
Final payment		$ 148,063
Loan Payable	170,995		177,232
Equipment
Acquisition cost	87,000
Principal amount	$ 70,147
Interest rate	6.60%
Maturity date	Aug. 12, 2024
Interest and principal payments	$ 1,379
Loan Payable	53,678		60,027
Loan Disbursement
Principal amount	$ 38,000
Interest rate	8.98%
Maturity date	Dec. 23, 2022
Interest and principal payments	$ 1,208
Loan Payable	26,448		32,352
Loan Disbursement #2
Principal amount	$ 37,000
Interest rate	8.98%
Maturity date	Apr. 1, 2023
Interest and principal payments	$ 1,176
Loan Payable	29,615		$ 35,195
PPP Loan
Principal amount	$ 33,237
Interest rate	1.00%
Term	5 years

Convertible Debt (Details Narra

Convertible Debt (Details Narrative)	6 Months Ended
	Dec. 31, 2020USD ($)
Notes to Financial Statements
Promissory note	Company executed a 10% convertible promissory note in which it agreed to borrow up to $300,000. The note is convertible at a price per share equal to the lower of (a) the Fixed Conversion Price (which is fixed at a price equal to $0.30); or (b) 80% of the lowest trading price of the Company’s common stock during the 5 consecutive trading days prior to the date on which lender elects to convert all or part of the Note.
Principal amount	$ 125,000
Original debt discount	25,000
Beneficial conversion feature	200,000
Debt discount	150,000
Loss on issuance of convertible debt	75,000
Interest expense	$ 150,000

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - Class B Preferred Stock - $ / shares	6 Months Ended
	Dec. 31, 2020	Jun. 30, 2020
Preferred Stock Shares Authorized	25,000,000	25,000,000
Preferred Stock Par Value	$ 0.001	$ 0.001
Stock Conversion	The Preferred Stock constitutes a convertible stock in which (1) one Preferred Share is convertible into (5) five Common Shares. The Preferred Stockholders are entitled to vote on any matters on which the common stockholders are entitled to vote.

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - TCP - USD ($)	6 Months Ended
	Dec. 31, 2020	Jun. 30, 2020
Special Line of Credit description	On November 5, 2017, to fund its working capital requirements the Company obtained a Special Line of Credit (“LOC”) also recognized as a Blanket Secured Promissory Note for the total draw down amount of up to $500,000, from Twiga Capital Partners, LLC (“TCP”), an entity controlled by the Company’s sole officer and largest stockholder, Shefali Vibhakar. This Note is secured by all of the assets of the Company in accordance with the Security Agreement by and between the Company and the Holder dated as of November 5, 2017.
Interest rate	5.00%
Loans payable	$ 122,729	$ 122,729
Accrued interest	$ 18,120	$ 11,279

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	1 Months Ended
	Feb. 19, 2021	Jan. 21, 2021	Dec. 31, 2020	Jun. 30, 2020
Common Stock Shares Authorized			100,000,000	100,000,000
Subsequent Event [Member]
Common Stock Shares Authorized	700,000,000
Forward stock split	10 shares every 1 share
Subsequent Event [Member] | Share Purchase Agreement [Member] | Shefali Vibhakar [Member]
Cash consideration		$ 177,000
Subsequent Event [Member] | Share Purchase Agreement [Member] | Shefali Vibhakar [Member] | Common Stock [Member]
Number of stock sold		17,000,000
Subsequent Event [Member] | Share Purchase Agreement [Member] | Shefali Vibhakar [Member] | Preferred Stock [Member]
Number of stock sold		10,000,000
Subsequent Event [Member] | Acquisition Agreement [Member] | Forzani [Member]
Stock Issued During Period, Shares, Acquisitions		1,000,000
Common Stock, Voting Rights		Mr. Forzani now has voting control over 93.9% of the Company’s issued and outstanding common stock.