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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of loss before provision for income taxes

		For the year ended June 30, 2020				For the year ended June 30, 2019				For the year ended June 30, 2018
Cayman		$	(4,851,668	)		$	(6,470,553	)		$	(2,307,119	)
United States			(316,142	)			(188,869	)			-
Hong Kong			(832	)			-				-
		$	(5,168,642	)		$	(6,659,422	)		$	(2,307,119	)

Schedule of effective income tax rate

		For the year ended June 30, 2020				For the year ended June 30, 2019
Federal statutory rate			21.0	%			21.0	%
State statutory rate			5.6	%			5.6	%
Valuation allowance			(26.6	)%			(26.6	)%
Effective tax rate			0.0	%			0.0	%

Schedule of components of deferred tax assets

		June 30, 2020				June 30, 2019
Deferred tax assets
Net operating loss carryforward in the U.S.			134,378				50,256
Net operating loss carryforward in Hong Kong			137				-
Valuation allowance			(134,515	)			(50,256	)
Total net deferred tax assets		$	-			$	-

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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