XML 18 R10.htm IDEA: XBRL DOCUMENT v3.22.2.2
RELATED PARTY TRANSACTIONS
3 Months Ended
Sep. 30, 2022
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS

NOTE 4 – RELATED PARTY TRANSACTIONS

 

Free office space

 

The Company has been provided office space by its Chief Executive Officer at no cost. The management determined that such cost is nominal and did not recognize the rent expense in its financial statements.

 

Due to Related Parties

 

For the year ended June 30, 2022, the company issued 1,182,009 shares for the conversion of $118,050 in related party payables. The shares include, as satisfaction of an external Settlement Agreement between Peter Simone/Corporate Capital Group International, LTD and related Parties, the Company issued Founder’s shares originally due to Simone/CCGI to in exchange for $80,000, paid by those related Parties.

 

As of September 30, 2022, the company owed $171,500 due to related parties for accumulated management fees.