Cover
Cover - shares | 6 Months Ended | |
Dec. 31, 2021 | Jan. 28, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --06-30 | |
Entity File Number | 0-4454 | |
Entity Registrant Name | INTERDYNE COMPANY | |
Entity Central Index Key | 0000051011 | |
Entity Tax Identification Number | 95-2563023 | |
Entity Incorporation, State or Country Code | CA | |
Entity Address, Address Line One | 26 Briarwood | |
Entity Address, City or Town | Irvine | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 92604 | |
City Area Code | (805) | |
Local Phone Number | 322-3883 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 39,999,942 |
BALANCE SHEETS (Unaudited)
BALANCE SHEETS (Unaudited) - USD ($) | Dec. 31, 2021 | Jun. 30, 2021 |
CURRENT ASSETS | ||
Cash | $ 40,262 | $ 52,273 |
Total current assets | 40,262 | 52,273 |
TOTAL ASSETS | 40,262 | 52,273 |
CURRENT LIABILITIES | ||
Accrued professional fees | 3,100 | 7,600 |
Due to related party | 30,000 | 27,000 |
Other accrued expenses | 7,707 | 5,471 |
Total current liabilities | 40,807 | 40,071 |
STOCKHOLDERS' EQUITY (DEFICIT) | ||
Preferred stock, no par value, 50,000,000 shares authorized, 0 shares issued and outstanding | ||
Common stock, no par value, 100,000,000 shares authorized, 39,999,942 shares issued and outstanding as of December 31, 2021 and June 30, 2021 | 500,000 | 500,000 |
Accumulated deficit | (500,545) | (487,798) |
Total stockholders’ equity (deficit) | (545) | 12,202 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 40,262 | $ 52,273 |
BALANCE SHEETS (Unaudited) (Par
BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2021 | Jun. 30, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, No Par Value | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, No Par Value | $ 0 | $ 0 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 39,999,942 | 39,999,942 |
Common Stock, Shares, Outstanding | 39,999,942 | 39,999,942 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
OPERATING EXPENSES | ||||
Professional fees | $ 2,500 | $ 2,500 | $ 5,031 | $ 5,028 |
General and administrative | 1,868 | 1,868 | 3,916 | 3,761 |
Management fees to related party | 1,500 | 1,500 | 3,000 | 3,000 |
Total expenses | 5,868 | 5,868 | 11,947 | 11,789 |
LOSS BEFORE INCOME TAXES | (5,868) | (5,868) | (11,947) | (11,789) |
INCOME TAX EXPENSE | (800) | (800) | ||
NET LOSS | $ (5,868) | $ (5,868) | $ (12,747) | $ (12,589) |
NET LOSS PER COMMON SHARE BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING BASIC AND DILUTED | 39,999,942 | 39,999,942 | 39,999,942 | 39,999,942 |
STATEMENTS OF STOCKHOLDERS' EQU
STATEMENTS OF STOCKHOLDERS' EQUITY (Unauidited) - USD ($) | Common Stock [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jun. 30, 2020 | $ 500,000 | $ (457,173) | $ 42,827 |
Beginning balance, shares at Jun. 30, 2020 | 39,999,942 | ||
Net Loss | (6,721) | (6,721) | |
Ending balance, value at Sep. 30, 2020 | $ 500,000 | (463,894) | 36,106 |
Ending balance, shares at Sep. 30, 2020 | 39,999,942 | ||
Net Loss | (5,868) | (5,868) | |
Ending balance, value at Dec. 31, 2020 | $ 500,000 | (469,762) | 30,238 |
Ending balance, shares at Dec. 31, 2020 | 39,999,942 | ||
Beginning balance, value at Jun. 30, 2021 | $ 500,000 | (487,798) | 12,202 |
Beginning balance, shares at Jun. 30, 2021 | 39,999,942 | ||
Net Loss | (6,879) | (6,879) | |
Ending balance, value at Sep. 30, 2021 | $ 500,000 | (494,677) | 5,323 |
Ending balance, shares at Sep. 30, 2021 | 39,999,942 | ||
Net Loss | (5,868) | (5,868) | |
Ending balance, value at Dec. 31, 2021 | $ 500,000 | $ (500,545) | $ (545) |
Ending balance, shares at Dec. 31, 2021 | 39,999,942 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (12,747) | $ (12,589) |
Changes in operating assets and liabilities | ||
Due to related party | 3,000 | 3,000 |
Accrued professional fees | (4,500) | (7,000) |
Other accrued expenses | 2,236 | 2,736 |
Net cash used in operating activities | (12,011) | (13,853) |
NET DECREASE IN CASH | (12,011) | (13,853) |
CASH, BEGINNING OF PERIOD | 52,273 | 78,869 |
CASH, END OF PERIOD | 40,262 | 65,016 |
Supplemental Cash Flow Disclosures | ||
Income taxes paid | 800 | 800 |
Interest paid |
Interim Financial Statements
Interim Financial Statements | 6 Months Ended |
Dec. 31, 2021 | |
Interim Financial Statements | |
Interim Financial Statements | Note 1. Interim Financial Statements Basis of presentation The accompanying financial statements are unaudited, but in the opinion of the management of Interdyne Company (“the Company”), contain all adjustments, consisting of only normal recurring accruals, necessary to present fairly the financial position as of December 31, 2021 and the results of operations, cash flows and changes in stockholders’ equity (deficit) for interim periods presented. Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although management of the Company believes that the disclosures contained in these financial statements are adequate to make the information presented therein not misleading. For further information, refer to the financial statements and footnotes thereto included in the Company's Annual Report in Form 10-K as of June 30, 2021, as filed with the Securities and Exchange Commission. The results of operations for the six months ended December 31, 2021 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending June 30, 2022. Going concern The Company’s financial statements have been prepared assuming that it 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 December 31, 2021, the Company has an accumulated deficit of $ 500,545 12,747 |
Changes in Significant Accounti
Changes in Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Changes in Significant Accounting Policies | Note 2. Changes in Significant Accounting Policies In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. On July 1, 2021, the Company adopted the new standard and the adoption of ASU 2019-12 did not have a material effect on the Company’s financial statements. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 3. Related Party Transactions An officer of the Company charged a management fee totaling $ 3,000 3,000 The balances due to this officer as of December 31, 2021 and June 30, 2021 were $ 30,000 27,000 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 4. Commitments and Contingencies In March 2017, the Company received a letter from the County of Santa Clara, California, which claimed that the Company is delinquent on its property taxes relating to tax year 1988/1989 in the amount of $ 80,238 |
Interim Financial Statements (P
Interim Financial Statements (Policies) | 6 Months Ended |
Dec. 31, 2021 | |
Interim Financial Statements | |
Going concern | Going concern The Company’s financial statements have been prepared assuming that it 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 December 31, 2021, the Company has an accumulated deficit of $ 500,545 12,747 |
Interim Financial Statements (D
Interim Financial Statements (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | |
Interim Financial Statements | |||||
Accumulated deficit | $ 500,545 | $ 500,545 | $ 487,798 | ||
Net loss | $ 5,868 | $ 5,868 | $ 12,747 | $ 12,589 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |||||
Management fees to related party | $ 1,500 | $ 1,500 | $ 3,000 | $ 3,000 | |
Due to related parties | $ 30,000 | $ 30,000 | $ 27,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) | Mar. 31, 2017USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Liabilities subject to compromise, other liabilities | $ 80,238 |