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RELATED PARTY TRANSACTION
12 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTION

The Company had expenses and payables paid on its behalf by shareholders in the amount of $10,897 and $10,663 for the years ended June 30, 2017 and 2016. The balance due to shareholders was $0 and $131,092 as of June 30, 2017, and 2016, respectively.  The aggregate amount of related party loans was non-interest bearing, unsecured and payable on demand.  However, the Company imputed interest on the loan at 10% per annum.  Imputed interest expense on related party loans for the years ended June 30, 2017, and 2016 totaled $15,508 and $17,921, respectively.  

 

In April 2017, the shareholders of the Company sold off their shares and forgave all the debts owed to them. The forgiveness of their loans was recorded as a capital contribution in the accompanying financial statements.