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COMMON STOCK
12 Months Ended
Jun. 30, 2017
Common Stock Abstract  
COMMON STOCK

During the year ended June 30, 2016, the Company cancelled 544,900 shares of common stock in consideration for the payment by us of $12,000. The Company also cancelled another 104,916 shares of our common stock in consideration of the payment by us of $2,098. These cancellations were pursuant to the Stock Purchase Agreement entered into by the Company in April 2016 (See Note 3).

 

The Company issued 2,900,000 shares of common stock of the Company pursuant to the stock purchase agreement entered into by the Company in April 2016. The Company used the proceeds to pay off the related party debt owed to the shareholders and directors amounting to $220,168, pursuant to the provisions of the stock purchase agreement. The Company also paid $137,500 in legal and professional fee, pursuant to the provisions of the agreement which were all netted against the proceeds of $377,500 from the issuance of 2,900,000 shares of common stock.