Forza Innovations (FORZ) 10-Q 8 Jun 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2021	Jun. 08, 2021
Document And Entity Information
Entity Registrant Name	Genesys Industries, Inc.
Entity Central Index Key	0001683131
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
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	Q3
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 ($)	Mar. 31, 2021	Jun. 30, 2020
Current assets:
Cash	$ 76	$ 0
Assets of discontinued operations	0	261,254
Total current assets	76	261,254
Machinery and equipment, net	135,135	0
Assets of discontinued operations	0	586,984
Total Assets	135,211	848,238
Current Liabilities:
Accounts payable	35,000	0
Accrued interest	26,343	15,000
Convertible note payable, net of discount of $0 and $12,500, respectively	150,000	137,500
Due to related party	9,440	0
Liabilities of discontinued operations	0	274,348
Total current liabilities	220,783	426,848
Long term liabilities:
Liabilities of discontinued operations	0	360,980
Total liabilities	220,783	787,828
Commitments and contingencies	0	0
Stockholders' equity (deficit)
Class B Preferred stock, $0.001 par value, 25,000,000 shares 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; 28,100,000 and 18,100,000 shares issued and outstanding, respectively	28,100	18,100
Additional paid-in capital	3,173,900	383,900
Accumulated deficit	(3,297,572)	(351,590)
Total stockholders' (deficit) equity	(85,572)	60,410
Total liabilities and stockholders' Equity	$ 135,211	$ 848,238

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2021	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	28,100,000	18,100,000
Common Stock Shares Outstanding	28,100,000	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		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Operating Expenses:
General & administrative expenses	$ 10,964	$ 6,300	$ 10,964	$ 27,605
Total operating expenses	10,964	6,300	10,964	27,605
Loss from operations	(10,964)	(6,300)	(10,964)	(27,605)
Other expense:
Interest expense	(3,781)	0	(15,125)	0
Debt discount amortization	0	0	(12,500)	0
Loss on asset acquisition - related party	(2,704,865)	0	(2,704,865)	0
Loss on disposition of assets and liabilities	(227,950)	0	(227,950)	0
Total other expense	(2,936,596)	0	(2,960,440)	0
Loss before income taxes	(2,947,560)	(6,300)	(2,971,404)	(27,605)
Provision for income taxes	0	0	0	0
Net loss from continuing operations	(2,947,560)	(6,300)	(2,971,404)	(27,605)
Net income (loss) from discontinued operations	8,713	(129,232)	25,422	(144,817)
Net Loss	$ (2,938,847)	$ (135,532)	$ (2,945,982)	$ (172,422)
Net Loss Per Common Share, basic & diluted from continuing operations	$ (0.11)	$ 0	$ (0.14)	$ 0
Net Income (Loss) Per Common Share, basic & diluted from discontinued operations	0	(0.01)	0	(0.01)
Net Loss Per Common Share, basic & diluted	$ (0.11)	$ (0.01)	$ (0.14)	$ (0.01)
Weighted Common Shares Outstanding, basic & diluted	27,988,889	18,100,000	21,348,175	17,870,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Common Stock To Be Issued	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 services, 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
Common stock issued for services, Shares	100,000
Common stock issued for services, Value	$ 100			69,900		70,000
Net income (Loss)					(44,371)	(44,371)
Ending Balance, shares at Dec. 31, 2019	18,100,000	10,000,000
Ending Balance, Amount at Dec. 31, 2019	$ 18,100	$ 10,000		183,900	(67,472)	144,528
Common stock issued for services, Value			16,500			16,500
Beneficial conversion feature				200,000		200,000
Net income (Loss)					(135,532)	(135,532)
Ending Balance, shares at Mar. 31, 2020	18,100,000	10,000,000
Ending Balance, Amount at Mar. 31, 2020	$ 18,100	$ 10,000	$ 16,500	283,900	(203,004)	225,496
Beginning Balance, Shares at Jun. 30, 2020	18,100,000	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	18,100,000	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	18,100,000	10,000,000
Ending Balance, Amount at Dec. 31, 2020	$ 18,100	$ 10,000		383,900	(358,725)	53,275
Stock issued for asset acquisitions, Shares	10,000,000
Stock issued for asset acquisitions, Value	$ 10,000			2,790,000		2,800,000
Net income (Loss)					(2,938,847)	(2,938,847)
Ending Balance, shares at Mar. 31, 2021	28,100,000	10,000,000
Ending Balance, Amount at Mar. 31, 2021	$ 28,100	$ 10,000		$ 3,173,900	$ (3,297,572)	$ (85,572)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net Income	$ (2,945,982)	$ (172,422)
Less: net (income) loss from discontinued operations	(25,422)	144,817
Adjustments to reconcile net income to net cash used in operating activities:
Debt discount amortization	12,500	0
Loss on asset acquisition - related party	2,704,865	0
Loss on disposition of assets and liabilities	227,950	0
Changes in operating assets and liabilities:
Accounts payable	35,000	0
Accrued interest	15,064	0
Operating cash flow from discontinued operations	55,801	69,941
Net cash provided by operating activities	79,777	42,336
Cash flows from investing activities:
Purchase of property and equipment	(40,000)	0
Investing cash flow from discontinued operations	(70,117)	(158,886)
Net cash used in investing activities	(110,117)	(158,886)
Cash flows from financing activities:
Advances from a related party	9,440	0
Financing cash flow from discontinued operations	2,497	80,040
Net cash provided by financing activities	11,937	80,040
Net (decrease) increase in cash	(18,403)	39,893
Cash, beginning of period	174,879	170,206
Less: cash of discontinued operations, end of period	(156,400)	(210,099)
Cash, end of period	76	210,099
Cash of continuing operations at end of period	76	0
Supplemental disclosure of cash flow information:
Cash paid for interest	12,203	7,559
Cash paid for taxes	0	0
Supplemental disclosure of non-cash transaction:
Common stock issued for assets	$ 95,135	$ 0

Nature of Operations

Nature of Operations	9 Months Ended
	Mar. 31, 2021
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. 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 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. As of March 31, 2021, Genesys Industries has moved out of the precision CNC manufacturing and fabrication business and has moved into the health-tech wearable performance business. The Company has acquired the ownership and rights to certain late developmental stage products, including the J4 Sport, J4 X and J4 Fitbelt. These products are wearable back compression devices, used to relax, warmup, loosen, or relax stiff & sore muscles. The therapeutic application of heat causes a change in temperature of the soft tissues which decreases joint stiffness and relieves inflammation.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and for the related periods presented have been made. The results for the nine months ended March 31, 2021 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. 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. 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	9 Months Ended
	Mar. 31, 2021
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 of March 31, 2021, the Company has an accumulated deficit of $592,707. For the nine months ended March 31, 2021, and had a net loss of $241,117. 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	9 Months Ended
	Mar. 31, 2021
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. Property, Plant and equipment stated at cost, less accumulated depreciation consisted of the following: March 31, 2021 June 30, 2020 Leasehold Improvements $ — $ 100,965 Machinery and Equipment 135,135 353,888 Real Property & Plant — 256,443 Less: accumulated depreciation — (124,312 ) Fixed assets, net $ 135,135 $ 586,984 Depreciation expense Depreciation expense for the nine months ended March 31, 2021 and 2020 was $54,925 and $49,553, respectively.

Convertible Debt

Convertible Debt	9 Months Ended
	Mar. 31, 2021
Notes to Financial Statements
Convertible Debt	NOTE 5 – 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	9 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stockholders' Equity	NOTE 6 - STOCKHOLDERS’ EQUITY 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. 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	9 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 7 - RELATED PARTY TRANSACTIONS 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. The shares were valued at $0.28, the closing stock price on the date of the agreement, for a total value of $2,800,000. The assets were valued at cost of $95,135, resulting in a loss on asset acquisition of $2,704,865. 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.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	NOTE 8 – DISCONTINUED OPERATIONS 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. March 31, 2021 June 30, 2020 Current Assets of Discontinued Operations: Cash $ — $ 174,879 Accounts receivable — 86,375 Total Current Assets of Discontinued Operations: — 261,254 Machinery and equipment, net — 360,431 Real property & plant, net — 226,553 Total Non-Current Assets of Discontinued Operations: $ — $ 586,984 Current Liabilities of Discontinued Operations: Accounts payable and accrued liabilities $ — $ 48,868 Accrued interest, related party — 11,279 Accrued compensation — 6,548 Lines of credit — 37,547 Loans payable — 47,377 Due to related party — 122,729 Total Current Liabilities of Discontinued Operations — 274,348 Non-Current Liabilities of Discontinued Operations: Line of credit — 70,246 Loans payable — 290,734 Total Non-Current Liabilities of Discontinued Operations $ 360,98 In accordance with the provisions of ASC 205-20, Presentation of Financial Statements GENESYS INDUSTRIES, INC CONDENSED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months Ended March 31, For the Nine Months Ended March 31, 2021 2020 2021 2020 Revenue $ 42,124 $ 163,782 $ 381,472 $ 438,656 Cost of revenue 25,575 98,058 269,638 266,862 Gross Margin 16,549 65,724 111,834 171,794 Operating Expenses: Professional fees — 3,800 — 2,300 Payroll expense 2,171 23,771 32,676 52,551 General & administrative expenses 1,884 23,556 37,882 63,034 Total operating expenses 4,055 51,127 70,558 117,885 Income from operations 12,494 14,597 41,276 53,909 Total other expense (3,781 ) (143,829 ) (15,854 ) (198,726 ) Net income (loss) from discontinued operations $ 8,713 $ (129,232 ) $ 25,422 $ (144,817 )

Subsequent Events

Subsequent Events	9 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	NOTE 9 - 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 no material subsequent events to disclose in these financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and for the related periods presented have been made. The results for the nine months ended March 31, 2021 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.
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.
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)	9 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant & Equipment	Property, Plant and equipment stated at cost, less accumulated depreciation consisted of the following: March 31, 2021 June 30, 2020 Leasehold Improvements $ — $ 100,965 Machinery and Equipment 135,135 353,888 Real Property & Plant — 256,443 Less: accumulated depreciation — (124,312 ) Fixed assets, net $ 135,135 $ 586,984

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	March 31, 2021 June 30, 2020 Current Assets of Discontinued Operations: Cash $ — $ 174,879 Accounts receivable — 86,375 Total Current Assets of Discontinued Operations: — 261,254 Machinery and equipment, net — 360,431 Real property & plant, net — 226,553 Total Non-Current Assets of Discontinued Operations: $ — $ 586,984 Current Liabilities of Discontinued Operations: Accounts payable and accrued liabilities $ — $ 48,868 Accrued interest, related party — 11,279 Accrued compensation — 6,548 Lines of credit — 37,547 Loans payable — 47,377 Due to related party — 122,729 Total Current Liabilities of Discontinued Operations — 274,348 Non-Current Liabilities of Discontinued Operations: Line of credit — 70,246 Loans payable — 290,734 Total Non-Current Liabilities of Discontinued Operations $ 360,98 In accordance with the provisions of ASC 205-20, Presentation of Financial Statements GENESYS INDUSTRIES, INC CONDENSED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months Ended March 31, For the Nine Months Ended March 31, 2021 2020 2021 2020 Revenue $ 42,124 $ 163,782 $ 381,472 $ 438,656 Cost of revenue 25,575 98,058 269,638 266,862 Gross Margin 16,549 65,724 111,834 171,794 Operating Expenses: Professional fees — 3,800 — 2,300 Payroll expense 2,171 23,771 32,676 52,551 General & administrative expenses 1,884 23,556 37,882 63,034 Total operating expenses 4,055 51,127 70,558 117,885 Income from operations 12,494 14,597 41,276 53,909 Total other expense (3,781 ) (143,829 ) (15,854 ) (198,726 ) Net income (loss) from discontinued operations $ 8,713 $ (129,232 ) $ 25,422 $ (144,817 )

Nature of Operations (Details N

Nature of Operations (Details Narrative)	1 Months Ended
	Jan. 21, 2021USD ($)shares
Share Purchase Agreement [Member] | Shefali Vibhakar [Member]
Cash consideration | $	$ 177,000
Share Purchase Agreement [Member] | Shefali Vibhakar [Member] | Common Stock [Member]
Number of stock sold	17,000,000
Share Purchase Agreement [Member] | Shefali Vibhakar [Member] | Preferred Stock [Member]
Number of stock sold	10,000,000
Acquisition Agreement [Member] | Forzani [Member]
Common Stock, Voting Rights	Mr. Forzani now has voting control over 93.9% of the Company’s issued and outstanding common stock.

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Deficit	$ (3,297,572)		$ (3,297,572)		$ (351,590)
Net Loss	$ (2,938,847)	$ (135,532)	$ (2,945,982)	$ (172,422)

Property, Plant & Equipment - P

Property, Plant & Equipment - Property, Plant and equipment stated at cost, less accumulated depreciation (Details) - USD ($)	Mar. 31, 2021	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Leasehold Improvements	$ 0	$ 100,965
Machinery and Equpment	135,135	353,888
Real Property & Plant	0	256,443
Less: accumulated depreciation	0	(124,312)
Fixed assets, net	$ 135,135	$ 586,984

Property, Plant & Equipment (De

Property, Plant & Equipment (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation Expense	$ 54,925	$ 49,553

Convertible Debt (Details Narra

Convertible Debt (Details Narrative)	9 Months Ended
	Mar. 31, 2021USD ($)
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) - $ / shares	1 Months Ended	9 Months Ended
	Feb. 19, 2021	Mar. 31, 2021	Jun. 30, 2020
Common Stock Shares Authorized	700,000,000	100,000,000	100,000,000
Forward stock split	10 shares every 1 share
Class B Preferred Stock
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) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 21, 2021	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Stock issued for asset acquisitions, Value		$ 2,800,000
Common stock issued for assets				$ 95,135	$ 0
Loss on asset acquisition related party		$ 2,704,865	$ 0	$ 2,704,865	$ 0
Acquisition Agreement [Member] | Forzani [Member]
Stock issued for asset acquisitions, Shares	10,000,000
Stock issued for asset acquisitions, Value	$ 2,800,000
Share Price	$ 0.28

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($)	Mar. 31, 2021	Jun. 30, 2020
Current Assets of Discontinued Operations:
Cash	$ 0	$ 174,879
Accounts receivable	0	86,375
Total Current Assets of Discontinued Operations	0	261,254
Machinery and equipment, net	0	360,431
Real property & plant, net	0	226,553
Total Non-Current Assets of Discontinued Operations	0	586,984
Current Liabilities of Discontinued Operations:
Accounts payable and accrued liabilities	0	48,868
Accrued interest, related party	0	11,279
Accrued compensation	0	6,548
Lines of credit	0	37,547
Loans payable	0	47,377
Due to related party	0	122,729
Total Current Liabilities of Discontinued Operations	0	274,348
Non-Current Liabilities of Discontinued Operations:
Line of credit	0	70,246
Loans payable	0	290,734
Total Non-Current Liabilities of Discontinued Operations	$ 0	$ 360,980

Discontinued Operations (Deta_2

Discontinued Operations (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Revenue	$ 42,124	$ 163,782	$ 381,472	$ 438,656
Cost of revenue	25,575	98,058	269,638	266,862
Gross Margin	16,549	65,724	111,834	171,794
Operating Expenses:
Professional fees	0	3,800	0	2,300
Payroll expense	2,171	23,771	32,676	52,551
General & administrative expenses	1,884	23,556	37,882	63,034
Total operating expenses	4,055	51,127	70,558	117,885
Income from operations	12,494	14,597	41,276	53,909
Total other expense	(3,781)	(143,829)	(15,854)	(198,726)
Net income (loss) from discontinued operations	$ 8,713	$ (129,232)	$ 25,422	$ (144,817)

Discontinued Operations (Deta_3

Discontinued Operations (Details Narrative) - Share Purchase Agreement [Member] - Shefali Vibhakar [Member]	1 Months Ended
	Jan. 21, 2021USD ($)shares
Cash consideration | $	$ 177,000
Common Stock [Member]
Number of stock sold	17,000,000
Preferred Stock [Member]
Number of stock sold	10,000,000