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INCOME TAX (Tables)
12 Months Ended
Jun. 30, 2020
INCOME TAXES  
Schedule of sources of deferred tax assets and liability

 

 

 

 

 

 

 

 

    

2020

    

2019

Deferred Income Tax Assets:

 

 

 

 

 

 

Net Operating Loss Carryover

 

$

93,681

 

$

66,741

Valuation Allowance on Net Operating Loss

 

 

(77,232)

 

 

(39,682)

Trade Receivables

 

 

3,416

 

 

3,333

Deferred Income

 

 

1,600

 

 

1,937

Contribution Carryover

 

 

1,748

 

 

1,297

Total Deferred Income Tax Assets

 

 

23,213

 

 

33,626

 

 

 

 

 

 

 

Deferred Income Tax Liability:

 

 

 

 

 

 

Property and Equipment

 

 

(23,213)

 

 

(33,626)

NET DEFERRED INCOME TAX ASSET

 

$

 —

 

$

 —

 

Schedule of net deferred income tax asset (liability)

 

 

 

 

 

 

 

 

    

2020

    

2019

Deferred Income Tax Asset

 

$

 —

 

$

 —

 

Schedule of provision (benefit) for income taxes

 

 

 

 

 

 

 

 

    

2020

    

2019

Current Income Tax

 

$

 —

 

$

 —

Deferred Income Tax Credit

 

 

 —

 

 

 —

Total

 

$

 —

 

$

 —

 

Schedule of effective income tax rate reconciliation

 

 

 

 

 

 

 

 

    

2020

    

2019

Computed at Federal Statutory Rates

 

$

(30,670)

 

$

(7,363)

Increase (Decrease) in Income Taxes Resulting from:

 

 

 

 

 

 

Non-Deductible Expenses

 

 

 9

 

 

138

Changes in Judgment on Realizability of Deferred Tax Assets

 

 

30,661

 

 

7,225

Total

 

$

 —

 

$

 —