10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended March 31, 2018
or
¨	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ____________ to ____________

Commission File Number 333-188152

BIONOVATE TECHNOLOGIES CORP.

(Exact name of registrant as specified in its charter)

Nevada	33-1229553
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

3651 Lindell Road, Suite D1141, Las Vegas, NV	89103
(Address of principal executive offices)	(Zip Code)

(208) 231-1606

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x YES     ¨ NO

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). x YES     ¨ NO

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	¨		Accelerated filer	¨
Non-accelerated filer	¨	(Do not check if a smaller reporting company)	Smaller reporting company	x
			Emerging growth company	x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) ¨ YES     x NO

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. ¨ YES     ¨ NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

15,579,749 common shares issued and outstanding as of May 31, 2018.

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION		3
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition or Plan of Operation	11
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	15
Item 4.	Controls and Procedures	16
PART II - OTHER INFORMATION		17
Item 1.	Legal Proceedings	17
Item 1A.	Risk Factors	17
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	17
Item 3.	Defaults Upon Senior Securities	17
Item 4.	Mine Safety Disclosures	17
Item 5.	Other Information	17
Item 6.	Exhibits	18
SIGNATURES		19

2

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Bionovate Technologies Corp 

CONDENSED INTERIM BALANCE SHEETS 

(Unaudited)

	March 31,			June 30,
	2018			2017
ASSETS
Current Assets
Cash	$	-		$	-
Total Current Assets		-			-
TOTAL ASSETS	$	-		$	-
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable and accrued liabilities	$	32,135		$	38,744
Due to related parties		189,241			147,185
Convertible notes payable		34,589			43,219
Total Current Liabilities		255,965			229,148
TOTAL LIABILITIES		255,965			229,148
Stockholders’ Deficit
Preferred stock: 90,000,000 authorized; $0.0001 par value - no shares issued and outstanding		-			-
Common stock: 100,000,000 authorized; $0.0001 par value 15,579,749 and 299,400 shares issued and outstanding, respectively		1,558			30
Additional paid in capital		2,007,683			383,372
Accumulated other comprehensive income		-			14,013
Accumulated deficit		(2,265,206	)		(626,563	)
Total Deficit		(255,965	)		(229,148	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	-		$	-

The accompanying notes are an integral part of these condensed interim financial statements

 

3

Bionovate Technologies Corp 

CONDENSED INTERIM STATEMENT OF OPERATIONS

(Unaudited)

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2018			2017			2018			2017
Revenues	$	-		$	-		$	-		$	5,386
Cost of goods sold		-			-			-			4,480
Gross profit		-			-			-			906
Operating Expenses
General and administration		1,361			21,502			71,540			31,468
Professional		9,211			8,079			16,000			49,914
Foreign currency gain		(3,815	)		-			(11,977	)		(658	)
Total operating expenses		6,757			29,581			75,563			80,724
Net loss from operations		(6,757	)		(29,581	)		(75,563	)		(79,818	)
Other income (expense)
Interest expense		(3,497	)		(33,001	)		(13,641	)		(34,496	)
Impairment of intangible assets and goodwill		-			-			-			(226,007	)
Gain from disposal of subsidiaries		-			-			-			32,608
Loss on settlement of debt		(1,549,439	)		-			(1,549,439	)		-
Total other expense		(1,552,936	)		(33,001	)		(1,563,080	)		(227,895	)
Net loss before taxes		(1,559,693	)		(62,582	)		(1,638,643	)		(307,713	)
Discontinued operations
Loss from discontinued operation		-			(4,488	)		-			(4,488	)
Gain from sale of investment		-			21,359			-			21,359
Gain from discontinued operations		-			16,871			-			16,871
Net loss	$	(1,559,693	)	$	(45,711	)	$	(1,638,643	)	$	(290,842	)
Net loss attributable to the non-controlling interest		-			-			-			(898	)
Net loss attributable to MJP International Ltd.	$	(1,559,693	)	$	(45,711	)	$	(1,638,643	)	$	(289,944	)
Comprehensive income (loss)	$	(1,559,693	)	$	(45,711	)	$	(1,638,643	)	$	(289,944	)
Foreign currency adjustment		-			(1,182	)		(14,013	)		2,594
Comprehensive loss	$	(1,559,693	)	$	(46,893	)	$	(1,652,656	)	$	(287,350	)
Basic and dilutive loss per share
Continuing operations	$	(0.17	)	$	(0.24	)	$	(0.50	)	$	(1.02	)
Discontinuing operations	$	-		$	0.07		$	-		$	0.06
Net loss	$	(0.17	)	$	(0.18	)	$	(0.50	)	$	(0.96	)
Weighted average number of shares outstanding		9,348,576			259,400			3,271,757			302,814

The accompanying notes are an integral part of these condensed interim financial statements

4

Bionovate Technologies Corp 

CONDENSED INTERIM STATEMENT OF CASH FLOWS

(Unaudited)

	Nine Months Ended
	March 31,
	2018			2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from continued operations	$	(1,638,643	)	$	(307,713	)
Loss from discontinued operation		-			(4,488	)
Gain from sale of investment		-			21,359
Net loss	$	(1,638,643	)	$	(290,842	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Impairment of intangible assets and goodwill		-			226,007
Gain from disposal of subsidiaries		-			(32,608	)
Amortization of debt discount		2,746			31,122
Loss on settlement of debt		1,549,439			-
Foreign currency adjustment		(11,979	)		-
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities		33,437			8,372
Accrued salary		65,000			-
Due to related parties		-			69,361
Net cash provided by continuing operating activities		-			11,412
Net cash used in discontinuing operating activities		-			(4,994	)
Net cash provided by operating activities		-			6,418
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash from acquisition		-			3,754
Disposal of subsidiaries		-			(1,406	)
Net cash provided by continuing investing activities		-			2,348
Net cash provided by discontinuing investing activities		-			4,716
Net cash provided by investing activities		-			7,064
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan payable		-			5,593
Common stock repurchases		-			(23,181	)
Net cash used in financing activities		-			(17,588	)
Effect of exchange rate changes on cash		-			3,170
Net increase in cash and cash equivalents		-			(936	)
Cash and cash equivalents, beginning of period		-			936
Cash and cash equivalents, end of period	$	-		$	-
Supplemental cash flow information
Cash paid for interest	$	-		$	-
Cash paid for taxes	$	-		$	-
Non-cash transactions:
4,000,000 shares issued due to assets acquisition	$	-		$	200,000
6,500,000 shares cancelled due to disposal of subsidy	$	-		$	650
Net assets acquired from Energy Alliance	$	-		$	84,000
Net liabilities acquired from Energy Alliance	$	-		$	(19,290	)
Net assets acquired from HEAL	$	-		$	4,498
Net liabilities acquired from HEAL	$	-		$	(15,215	)
Convertible note exchanged for due to related parties	$	-		$	27,670
Beneficial conversion feature	$	-		$	45,880
Accounts payable paid by related party	$	41,025		$	-
Common stock issued for settlement of debt	$	1,614,439		$	-
Common stock issued for conversion of debt	$	11,400		$	-

The accompanying notes are an integral part of these condensed interim financial statements

5

BIONOVATE TECHNOLOGIES CORP

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 

(Unaudited)

NOTE 1 – NATURE AND CONTINUANCE OF OPERATIONS

Bionovate Technologies Corp. (the “Company”, or the “Corporation”) was incorporated in the state of Nevada, United States on October 24, 2012 under the name MJP International Ltd. On December 1, 2017, the Company’s corporate name was changed to Bionocate Technologies Corp.

The Corporation was formed and organized to capitalize on new opportunities found in the North American market for light-emitting diode (“LED”) lighting. With China as the manufacturing backbone of future LED products, the Corporation has set up an office in Guangzhou, China in search of high quality products offered by reputable manufacturers to be introduced to Canada, the United States, and abroad. The Corporation has set out further details of the acquisition below as well as in Notes 3 and 4 to these consolidated financial statements.

On February 5, 2016, Energy Alliance Labs Inc. (“Energy Alliance”), incorporated on February 5, 2016, entered into an agreement to acquire 80% of the issued and outstanding equity interests of Human Energy Alliance Laboratories Corp., an Idaho corporation (“HEAL”) from certain shareholders of HEAL for $80,000. The cash for the acquisition of shares was transferred to the shareholders on November 1, 2016 and that is when the acquisition closed. Subsequent to the transfer of cash, the previous shareholders of the Company owned 80% of the issued and outstanding shares of HEAL.

On October 28, 2016, the Company entered into a Share Exchange Agreement (the “Share Exchange Agreement”) with Liao Zu Guo, an individual residing in China, whereby the Company issued 80,000 shares of its common stock in exchange for 100% of the issued and outstanding equity interests of Energy Alliance. Subsequent to the execution of the Share Exchange Agreement, Liao Zu Gao became a member of the Board of Directors of the Company.

On January 1, 2017, the Company entered into transfer agreement with Liao Zu Guo, whereby the Company transferred 100% of issued and outstanding equity interests of Energy Alliance for $20,000 for past services provided by Executive to the Company and agreed to assume the debt of Energy Alliance owed to the Liao Zu Guo in the aggregate amount of $28,239.

On December 1, 2017, a majority of stockholders and the board of directors approved a reverse stock split of the issued and outstanding shares of common stock on a fifty (50) old for one (1) new basis. A Certificate of Amendment was filed with the Nevada Secretary of State on December 11, 2017 with an effective date of December 21, 2017. All share and per share information in these financial statements retroactively reflect this stock distribution.

Our executive offices are located at 3006 E. Goldstone Drive, Suite 218, Meridian, ID 83642. Our telephone number is (208) 231 – 1606.

Going Concern

These condensed interim financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Corporation and its subsidiaries will be able to meet its obligations and continue its operations for the next fiscal year. Realizable values may be substantially different from carrying values as shown and these condensed interim financial statements, which do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Corporation be unable to continue as a going concern. At March 31, 2018, the Corporation had not yet achieved profitable operations and has an accumulated loss of $2,265,206 since inception. The Corporation expects to incur further losses, all of which casts substantial doubt about the Corporation’s ability to continue as a going concern. The Corporation’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management anticipates that additional funding will be in the form of equity financing from the sale of common stock. Management may also seek to obtain short-term loans from the directors of the Corporation. There are no current arrangements in place for equity funding or short-term loans.

 

6

NOTE 2 – BASIS OF PRESENTATION

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q and Article 210 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All such adjustments are of a normal recurring nature. Operating results for the nine months ended March 31, 2018, are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2017. For further information, refer to the financial statements and footnotes thereto included in the Corporation’s filed Form 10-K for the year ended June 30, 2017.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect application of policies and the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. Actual results could differ from these estimates. Estimates and their underlying assumptions are reviewed on an ongoing basis. Changes in estimates are recorded in the accounting period in which they are determined. The critical accounting estimates and assumptions in the accompanying unaudited condensed interim financial statements include the provision for unpaid loss and loss adjustment expenses which may result from product warranty provisions; valuation of deferred income taxes; valuation and impairment assessment of intangible assets; goodwill recoverability; and deferred acquisition costs.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Foreign currency translation and functional currency conversion

Prior to July 1, 2017, the Company’s functional currency was the Canadian dollar. Translation gains and losses from the application of the U.S. dollar as the reporting currency during the period that the Canadian dollar was the functional currency are included as part of cumulative currency translation adjustment, which is reported as a component of shareholders’ equity under accumulated other comprehensive loss.

The Company re-assessed its functional currency and determined as at Jul 1, 2017, its functional currency changed from the Canadian dollar to the U.S. dollar based on management’s analysis of changes in our organization. The change in functional currency is accounted for prospectively from July 1, 2017 and financial statements prior to and including the period ended December 31, 2016 have not been restated for the change in functional currency.

For periods commencing July 1, 2017, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Opening balances related to non-monetary assets and liabilities are based on prior period translated amounts, and non-monetary assets and non-monetary liabilities incurred after Jul 1, 2017 are translated at the approximate exchange rate prevailing at the date of the transaction. Revenue and expense transactions are translated at the approximate exchange rate in effect at the time of the transaction. Foreign exchange gains and losses are included in the statement of operations and comprehensive loss as foreign exchange gains.

Revenue Recognition

The Corporation recognizes revenue when persuasive evidence of an arrangement exists, shipment has occurred or services rendered, the price is fixed or determinable and payment is reasonably assured. Customers take ownership at point of sale and bear the costs and risks of delivery.

We currently do not have operations, and its management seeks to acquire cash generating businesses.

7

Fair Value of Financial Instrument

The Corporation follows FASB ASC 820, Fair Value Measurements and Disclosures, for all financial instruments and non-financial instruments accounted for at fair value on a recurring basis. This new accounting standard establishes a single definition of fair value and a framework for measuring fair value, sets out a fair value hierarchy to be used to classify the source of information used in fair value measurement and expands disclosures about fair value measurements required under other accounting pronouncements. It does not change existing guidance as to whether or not an instrument is carried at fair value. The Corporation defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Corporation considers the principal or most advantageous market in which the Corporation would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

The Corporation applies FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Corporation has not elected the fair value option for any eligible financial instruments.

Basic and Diluted Loss per Common Stock

FASB ASC 260 requires dual presentation of basic and diluted earnings per share (EPS) with a reconciliation of the numerator and denominator of the EPS computations. Basic earnings per share amounts are based on the weighted average shares of common stock outstanding. If applicable, diluted earnings per stock would assume the conversion, exercise or issuance of all potential common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. Diluted net income (loss) per common stock on the potential exercise of the equity-based financial instruments is not presented where anti-dilutive.

NOTE 4 – DISCONTINUED OPERATOINS

On January 1, 2017, MJP entered into transfer agreement with Liao Zu Guo, whereby MJPI transferred 100% of issued and outstanding equity interests of Energy Alliance for consideration of $20,000 and assumption of debt of $28,239 for past services provided by Executive to the Company. There is no planned future involvement with Energy Alliance, however Liao Zu Guo continues to hold a position on the board of directors

During the nine months ended March 31, 2017, the Company recorded a gain on the sale of $21,359. The Company has no continuing involvement in the operations of Energy Alliance and its subsidiary HEAL. The sale of Energy Alliance qualified as a discontinued operation of the Company and accordingly, the Company has excluded results of Energy Alliance operations from its Statements of Operations and Comprehensive Income (Loss) to present this business in discontinued operations.

The following table shows the results of operations of Energy Alliance and HEAL for the period ended January 1, 2017 which are included in the loss from discontinued operations:

	Nine months ended
	March 31,
	2018		2017
Revenue	$	-	$	1,987
Cost of goods sold		-		923
Gross profit		-		1,064
General & administration		-		5,352
Professional fees		-		200
Operating loss		-		(4,488	)
Gain from sale of investment		-		21,359
Loss from discontinued operations	$	-	$	16,871

8

NOTE 5 – CONVERTIBLE NOTE 

Convertible notes payable at March 31, 2018 and June 30, 2017, consists of the following:

	March 31,		June 30,
	2018		2017
Dated November 1, 2016	$	4,439	$	8,239
Dated January 1, 2017 - 1		10,489		14,289
Dated January 1, 2017 - 2		6,200		10,000
Dated January 1, 2017 - 3		3,492		3,468
Dated June 30, 2017		9,969		9,969
Total convertible notes payable		34,589		45,965
Less: Unamortized debt discount		-		(2,746	)
Total convertible notes		34,589		43,219
Less: current portion of convertible notes		34,589		43,219
Long-term convertible notes	$	-	$	-

For the nine months ended March 31, 2018 and 2017, the Company recognized interest expense of $10,895 and $3,374 and amortization of discount, included in interest expense, of $2,746 and $31,122, respectively. As of March 31, 2018, and June 30, 2017, the Company recorded accrued interest of $18,352 and $6,703, respectively

Dated November 1, 2016

On November 1, 2016, the Company issued a convertible note with a conversion price of $0.005 to extinguish debt of $18,239. The convertible note is unsecured, bears interest at 4% per annum and due and payable on November 1, 2017. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $18,239. During the nine months ended March 31, 2018, the convertible note of $3,800 was converted into 760,000 shares of common stock.

Dated January 1, 2017 - 1

On January 1, 2017, the Company issued a convertible note with a conversion price of $0.005 to extinguish amounts due to related parties of $10,000. The convertible note is unsecured, bears interest at 45% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $10,000. During the nine months ended March 31, 2018, the convertible note of $3,800 was converted into 760,000 shares of common stock.

Dated January 1, 2017 - 2

On January 1, 2017, the Company issued a convertible note with a conversion price of $0.005 to extinguish amounts due to related parties of $14,289. The convertible note is unsecured, bears interest at 45% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $14,289. During the nine months ended March 31, 2018, the convertible note of $3,800 was converted into 760,000 shares of common stock.

Dated January 1, 2017 - 3

On January 1, 2017, the Company issued a convertible note with a conversion price of $0.005 to extinguish amounts due to related parties of $3,352 (Canadian dollar (“CAD”) $4,500). The convertible note is unsecured, bears interest at 45% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $3,352 (CAD $4,500). The difference of amount was a result of change of exchange rate.

9

Dated June 30, 2017

On June 30, 2017, the Company issued a convertible note with a conversion price of $0.01 to pay operating expenses of $9,969. The convertible note is unsecured, bears interest at 35% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $9,969.

NOTE 6 – DUE TO RELATED PARTIES

As at March 31, 2018, the Company was obligated to shareholders for funds advanced to the Corporation for working capital.

During the nine months ended March 31, 2018, the Company’s CEO paid accounts payable of $41,025 on behalf of the Company. The loans are unsecured, non-interest bearing and due on demand.

On July 1, 2017, the Company entered into an employment agreement with CEO of the Company which the Company shall pay a cash based base salary of $65,000 from July 1, 2017 through December 31, 2017. For the nine months ended March 31, 2018, the Company recorded accrued salary of $65,000. On February 7, 2018, the Company issued 13,000,000 shares of common stock to settle accrued salary of $65,000. As a result, the Company recorded loss on settlement of debt of $1,549,439.

As of March 31, 2018, and June 30, 2017, the Corporation owed related parties $148,216 (CAD 191,000) and $147,848 (CAD 191,000), respectively. The advances are unsecured, non-interest bearing and no payback schedule has been established.

As of March 31, 2018, and June 30, 2017, due to related party was $189,241 and $147,185, respectively.

NOTE 7 – CAPITAL STOCK

During the nine months ended March 31, 2018, the Company issued common stock as follows;

· 2,280,000 shares of common stock for conversion of debt of $11,400.

· 13,000,000 shares of common stock for conversion of accrued salary of $65,000.

· 349 shares of common stock to correct the shares issued and outstanding after the reverse stock split on December 21, 2017.

 

As at March 31, 2018 and June 30, 2017, 15,579,749 and 299,400 shares of common stock were issued and outstanding, respectively.

As at March 31, 2018, there were no warrants or options outstanding.

10

Item 2. Management’s Discussion and Analysis of Financial Condition or Plan of Operation

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

Unless otherwise specified in this quarterly report, all dollar amounts are expressed in United States dollars and all references to “common stock” refer to shares of our common stock.

As used in this quarterly report, the terms “we”, “us”, “our” and “our company” mean Bionovate Technologies Corp. (formerly MJP International Ltd.), unless otherwise indicated.

Corporate Overview

Our company was incorporated in the State of Nevada on October 24, 2012. Founded in Calgary, Canada, we were formed and organized to capitalize on new opportunities found in the North American market for light-emitting diode (“LED”) lighting. With China as the manufacturing backbone of future LED products, we have set up an office in Guangzhou, China in search of high quality products offered by reputable manufacturers to be introduced to Canada, the United States, and abroad. In November 2016, we expanded our operations to include reselling various energy products and green technology products. We achieved this by acquiring Energy Alliance Labs Inc. (“Energy Alliance”), which is the 80% owner of Human Energy Alliance Laboratories Corp., an Idaho corporation (“HEAL”). HEAL is a “green technology” and retail company with the mission of developing and distributing technologies that relieve its customers of certain burdens, while simultaneously decreasing the energy they use. HEAL’s primary products are mid-sized wind turbines, small solar panels and related controllers and inverters.

On October 28, 2016, we entered into a share exchange agreement with Liao Zu Guo, a director of our company, whereby on the same date we issued 80,000 shares of our common stock in exchange for 100% of the issued and outstanding equity interests of Energy Alliance.

On November 1, 2016, Energy Alliance closed the transactions contemplated under an agreement with certain shareholders of HEAL, in which the shareholders holding 80% of the outstanding equity interests of HEAL sold all of their shares of HEAL to Energy Alliance.

As a result of such transactions we became the owner of 100% of the issued and outstanding equity interests of Energy Alliance and Energy Alliance became the owner of 80% of the issued and outstanding equity interests of HEAL.

11

Effective October 4, 2016, we filed a Certificate of Dissolution of MJP Holdings Ltd., our wholly-owned subsidiary.

Effective November 28, 2016, we entered into a Share Exchange Agreement with MJP Lighting Solutions Ltd., a British Virgin Islands (“BVI”) corporation and Tong Tang and Zhao Hui Ma (the “Shareholders”) whereby the parties exchanged 100% of the issued and outstanding shares of BVI, belonging to our company for the tender of 110,000 restricted common shares of our company, belonging to the Shareholders, to our treasury for cancellation.

On January 1, 2017, MJP entered into transfer agreement with Liao Zu Guo, whereby we transferred 100% of the issued and outstanding equity interests of Energy Alliance for consideration of $20,000 for past services provided to our company by Mr. Guo.

On December 1, 2017, a majority of our stockholders and our board of directors approved a change of name of our company to “Bionovate Technologies Corp.” and a reverse stock split of our issued and outstanding shares of common stock on a fifty (50) old for one (1) new basis.

A Certificate of Amendment was filed with the Nevada Secretary of State on December 11, 2017 with an effective date of December 21, 2017.

The name change and reverse split became effective with the OTC Markets at the opening of trading on December 21, 2017 under the symbol “BIIO”. Our new CUSIP number is 09074V103.

We do not have any subsidiaries.

We have not been subject to any bankruptcy, receivership or similar proceeding.

Current Business

We are currently seeking new business opportunities with established business entities for merger with or acquisition of a target business. In certain instances, a target business may wish to become our subsidiary or may wish to contribute assets to us rather than merge. We have not yet begun negotiations or entered into any definitive agreements for potential new business opportunities, and there can be no assurance that we will be able to enter into any definitive agreements.

We may seek a business opportunity with entities which have recently commenced operations, or entities who wish to utilize the public marketplace in order to raise additional capital in order to expand business development activities, to develop a new product or service, or for other corporate purposes. We may acquire assets and establish wholly-owned subsidiaries in various businesses or acquire existing businesses as subsidiaries.

In implementing a structure for a particular business acquisition or opportunity, we may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another corporation or entity. We may also acquire stock or assets of an existing business. Upon the consummation of a transaction, it is likely that our present management will no longer retain a majority control of our company. In addition, it is likely that as part of the terms of the acquisition transaction, one or more new officers and directors, would join our Company.

We anticipate that the selection of a business opportunity in which to participate will be complex and without certainty of success. We believe that there are numerous firms in various industries seeking the perceived benefits of being a publicly registered corporation. Business opportunities may be available in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. Business opportunities that we believe are in the best interests of our company may be scarce or we may be unable to obtain the ones that we want. We can provide no assurance that we will be able to locate compatible business opportunities.

 

12

We have not yet entered into any definitive agreements for potential new business opportunities. There can be no assurance that we will be able to identify an appropriate business opportunity or acquire the financing necessary to enable us to pursue a transaction if an appropriate opportunity is identified.

Currently, we do not have a source of revenue. We are not able to fund our cash requirements through our current operations. Historically, we have been able to raise a limited amount of capital through loans from a company controlled by our management, but we are uncertain about our continued ability to raise additional funds privately. We believe that our company may have difficulties raising capital until we locate a prospective business opportunity through which we can pursue our plan of operation. Further, we expect that any new acquisition or business opportunities that may become available to our company will require additional financing. There can be no assurance that we will be able to acquire the financing necessary to enable us to pursue our plan of operation. If our company requires additional financing and we are unable to acquire such funds, our business may fail. If we are unable to secure adequate capital to continue our acquisition efforts, our shareholders may lose some or all of their investment and our business may fail.

Results of Operations

Our operations for the three and nine months ended March 31, 2018 are outlined below:

Three months ended March 31, 2018 compared to three months ended March 31, 2017.

	Three Months Ended
	March 31,						Change
	2018			2017			Amount			%
Revenues	$	-		$	-		$	-			-
Cost of goods sold		-			-			-			-
Operating Expenses		(6,757	)		(29,581	)		22,824		(77		)%
Total other expenses		(1,552,936	)		(33,001	)		(1,519,935	)		4,606	%
Gain from Discontinued Operations		-			16,871			(16,871	)	(100		)%
Net Loss	$	(1,559,693	)	$	(45,711	)	$	(1,513,982	)		3,312	%

For the three months ended March 31, 2018 and 2017, we had revenue of $Nil and $Nil, respectively. Expenses for the three months ended March 31, 2018 totaled $1,559,693 resulting in a net loss of $1,559,693 as compared to a net loss of $45,711 for the three months ended March 31, 2017. The increase in net income for the three months ended March 31, 2018 is a result of loss on settlement of debt of $1,549,439 in 2018.

Nine months ended March 31, 2018 compared to nine months ended March 31, 2017.

	Nine Months Ended
	March 31,						Change
	2018			2017			Amount			%
Revenues	$	-		$	5,386		$	(5,386	)	(100		)%
Cost of goods sold		-			(4,480	)		4,480		(100		)%
Operating Expenses		(75,563	)		(80,724	)		5,161		(6		)%
Total other income		(1,563,080	)		(227,895	)		(1,335,185	)		586	%
Gain from Discontinued Operations		-			21,359			(21,359	)	(100		)%
Net Loss	$	(1,638,643	)	$	(290,842	)	$	(1,347,801	)		463	%

For the nine months ended March 31, 2018 and 2017, we had revenue of $0 and $5,386, respectively. Expenses for the nine months ended March 31, 2018 totaled $1,638,643 resulting in a net loss of $1,638,643 as compared to a net loss of $290,842 for the nine months ended March 31, 2017. The increase in net loss for the nine months ended March 31, 2018 is a result of loss on settlement of debt of $1,549,439 in 2018.

13

Liquidity and Capital Resources

The following table provides selected financial data about our company as of March 31, 2018 and June 30, 2017, respectively.

Working Capital

	March 31,			June 30,
	2018			2017
Current Assets	$	-		$	-
Current Liabilities	$	255,965		$	229,148
Working Capital (Deficit)	$	(255,965	)	$	(229,148	)

Cash Flows

	Nine Months Ended
	March 31,
	2018		2017
Net Cash Provided by Operating Activities	$	-	$	6,418
Net Cash Provided by investing Activities	$	-	$	7,064
Net Cash Used in Financing Activities	$	-	$	(17,588	)
Effect of Exchange Rate Changes on Cash	$	-	$	3,170
Net Decrease in Cash During the Period	$	-	$	(936	)

On March 31, 2018, our Company’s cash balance was $0 and total assets were $0. On June 30, 2017, our Company’s cash balance was $0 and total assets were $0.

On March 31, 2018, our Company had total liabilities of $255,965, compared with total liabilities of $229,148 as at June 30, 2017.

On March 31, 2018, our Company had working capital deficiency of $225,965 compared with working capital deficiency of $229,148 as at June 30, 2017. The increase in working capital was primarily attributed to an increase in due to related parties.

Cash Flow from Operating Activities

During the nine months ended March 31, 2018, our Company used $0 in operating activities, compared to $6,418 provided by operating activities during the nine months ended March 31, 2017. The decrease in cash provided by operating activities was primarily attributed to an increase in net loss offset by non-cash expenses and an increase in operating liabilities.

Cash Flow from Investing Activities

During the nine months ended March 31, 2018, we receive $0 from investing activities compared to $7,064 for the same period in 2017.

Cash Flow from Financing Activities

During the nine months ended March 31, 2018, our Company received $0 from financing activities compared to $17,588 used in financing activities during the nine months ended March 31, 2017.

14

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, and capital expenditures or capital resources that are material to stockholders.

Critical Accounting Policies

Foreign currency translation and functional currency conversion

Prior to July 1, 2017, the Company’s functional currency was the Canadian dollar. Translation gains and losses from the application of the U.S. dollar as the reporting currency during the period that the Canadian dollar was the functional currency are included as part of cumulative currency translation adjustment, which is reported as a component of shareholders’ equity under accumulated other comprehensive loss.

The Company re-assessed its functional currency and determined as at Jul 1, 2017, its functional currency changed from the Canadian dollar to the U.S. dollar based on management’s analysis of changes in our organization. The change in functional currency is accounted for prospectively from July 1, 2017 and financial statements prior to and including the period ended September 30, 2016 have not been restated for the change in functional currency.

For periods commencing July 1, 2017, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Opening balances related to non-monetary assets and liabilities are based on prior period translated amounts, and non-monetary assets and non-monetary liabilities incurred after Jul 1, 2017 are translated at the approximate exchange rate prevailing at the date of the transaction. Revenue and expense transactions are translated at the approximate exchange rate in effect at the time of the transaction. Foreign exchange gains and losses are included in the statement of operations and comprehensive loss as foreign exchange gains.

Recent Accounting Pronouncements

We have implemented all new accounting pronouncements that are in effect and that may impact our financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or results of operations. Our company regularly reviews and analyses the recent accounting pronouncements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As a “smaller reporting company”, we are not required to provide the information required by this Item.

15

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2018. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the three-month period ended March 31, 2018, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Changes in Internal Control Over Financial Reporting

There have been no changes in our internal control over financial reporting that occurred during the quarter ended March 31, 2018, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

16

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We know of no material, existing or pending legal proceedings against our Company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

Item 1A. Risk Factors

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On February 5, 2018, the Company issued 2,280,000 shares of common stock for conversion of debt of $11,400.

On Febraury 7, 2018, the Company issued 13,000,000 shares of common stock for conversion of accrued salary of $65,000.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

None.

17

Item 6. Exhibits

Exhibit Number	Description
(31)	Rule 13a-14 (d)/15d-14d) Certifications
31.1*	Section 302 Certification under the Sarbanes-Oxley Act of 2002
(32)	Section 1350 Certifications
32.1*	Section 906 Certification under the Sarbanes-Oxley Act of 2002
101*	Interactive Data File
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document

____________ 

* Filed herewith.

** XBRL Information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

18

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	BIONOVATE TECHNOLOGIES CORP.
	(Registrant)
Dated: June 30, 2018	/s/ Liao Zu Guo
	Liao Zu Guo
	Chief Executive Officer, Chief Financial Officer, Chief Operating Officer and Director
	(Principal Executive Officer, Principal Financial Officer an Principal Accounting Officer)

19

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO

18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Liao Zu Guo, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of Bionovate Technologies Corp.;
2	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: June 30, 2018

/s/ Liao Zu Guo

Liao Zu Guo

Chief Executive Officer, Chief Financial Officer,

Chief Operating Officer and Director

(Principal Executive Officer, Principal Financial

Officer an Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Liao Zu Guo, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)	the Quarterly Report on Form 10-Q of Bionovate Technologies Corp. for the period ended March 31, 2018 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Bionovate Technologies Corp.

Dated: June 30, 2018	/s/ Liao Zu Guo
	Liao Zu Guo
	Chief Executive Officer, Chief Financial Officer, Chief Operating Officer and Director
	(Principal Executive Officer, Principal Financial Officer an Principal Accounting Officer)
	Bionovate Technologies Corp.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Bionovate Technologies Corp. and will be retained by Bionovate Technologies Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2018	May 31, 2018
Document And Entity Information
Entity Registrant Name	BIONOVATE TECHNOLOGIES CORP.
Entity Central Index Key	0001575420
Trading Symbol	biio
Document Period End Date	Mar. 31, 2018
Current Fiscal Year End Date	--06-30
Document Type	10-Q
Amendment Flag	false
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Common Stock, Shares Outstanding		15,579,749
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2018
Entity Filer Category	Smaller Reporting Company

XML

CONDENSED INTERIM BALANCE SHEETS - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Current Assets
Cash
Total Current Assets
TOTAL ASSETS
Current Liabilities
Accounts payable and accrued liabilities	32,135	38,744
Due to related parties	189,241	147,185
Convertible notes payable	34,589	43,219
Total Current Liabilities	255,965	229,148
TOTAL LIABILITIES	255,965	229,148
Stockholders' Deficit
Preferred stock: 90,000,000 authorized; $0.0001 par value - no shares issued and outstanding
Common stock: 100,000,000 authorized; $0.0001 par value 15,579,749 and 299,400 shares issued and outstanding, respectively	1,558	30
Additional paid in capital	2,007,683	383,372
Accumulated other comprehensive income		14,013
Accumulated deficit	(2,265,206)	(626,563)
Total Deficit	(255,965)	(229,148)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

XML

CONDENSED INTERIM BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Jun. 30, 2017
Stockholders' Deficit
Preferred stock, shares authorized	90,000,000	90,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares issued	15,579,749	299,400
Common stock, shares outstanding	15,579,749	299,400

XML

CONDENSED INTERIM STATEMENT OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Condensed Interim Statement Of Operations
Revenues				$ 5,386
Cost of goods sold				4,480
Gross profit				906
Operating Expenses
General and administration	1,361	21,502	71,540	31,468
Professional	9,211	8,079	16,000	49,914
Foreign currency gain	(3,815)		(11,977)	(658)
Total operating expenses	6,757	29,581	75,563	80,724
Net loss from operations	(6,757)	(29,581)	(75,563)	(79,818)
Other income (expense)
Interest expense	(3,497)	(33,001)	(13,641)	(34,496)
Impairment of intangible assets and goodwill				(226,007)
Gain from disposal of subsidiaries				32,608
Loss on settlement of debt	(1,549,439)		(1,549,439)
Total other expense	(1,552,936)	(33,001)	(1,563,080)	(227,895)
Net loss before taxes	(1,559,693)	(62,582)	(1,638,643)	(307,713)
Discontinued operations
Loss from discontinued operation		(4,488)		(4,488)
Gain from sale of investment		21,359		21,359
Gain from discontinued operations		16,871		16,871
Net loss	(1,559,693)	(45,711)	(1,638,643)	(290,842)
Net loss attributable to the non-controlling interest				(898)
Net loss attributable to MJP International Ltd.	(1,559,693)	(45,711)	(1,638,643)	(289,944)
Comprehensive income (loss)	(1,559,693)	(45,711)	(1,638,643)	(289,944)
Foreign currency adjustment		(1,182)	(14,013)	2,594
Comprehensive loss	$ (1,559,693)	$ (46,893)	$ (1,652,656)	$ (287,350)
Basic and dilutive loss per share
Continuing operations	$ (0.17)	$ (0.24)	$ (0.5)	$ (1.02)
Discontinuing operations		0.07		0.06
Net loss	$ (0.17)	$ (0.18)	$ (0.5)	$ (0.96)
Weighted average number of shares outstanding	9,348,576	259,400	3,271,757	302,814

XML

CONDENSED INTERIM STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from continued operations	$ (1,638,643)	$ (307,713)
Loss from discontinued operation		(4,488)
Gain from sale of investment		21,359
Net loss	(1,638,643)	(290,842)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Impairment of intangible assets and goodwill		226,007
Gain from disposal of subsidiaries		(32,608)
Amortization of debt discount	2,746	31,122
Loss on settlement of debt	1,549,439
Foreign currency adjustment	(11,979)
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	33,437	8,372
Accrued salary	65,000
Due to related parties		69,361
Net cash provided by continuing operating activities		11,412
Net cash used in discontinuing operating activities		(4,994)
Net cash provided by operating activities		6,418
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash from acquisition		3,754
Disposal of subsidiaries		(1,406)
Net cash provided by continuing investing activities		2,348
Net cash provided by discontinuing investing activities		4,716
Net cash provided by investing activities		7,064
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan payable		5,593
Common stock repurchases		(23,181)
Net cash used in financing activities		(17,588)
Effect of exchange rate changes on cash		3,170
Net increase in cash and cash equivalents		(936)
Cash and cash equivalents, beginning of period		936
Cash and cash equivalents, end of period
Supplemental cash flow information
Cash paid for interest
Cash paid for taxes
Non-cash transactions:
4,000,000 shares issued due to assets acquisition		200,000
6,500,000 shares cancelled due to disposal of subsidy		650
Net assets acquired from Energy Alliance		84,000
Net liabilities acquired from Energy Alliance		(19,290)
Net assets acquired from HEAL		4,498
Net liabilities acquired from HEAL		(15,215)
Convertible note exchanged for due to related parties		27,670
Beneficial conversion feature		45,880
Accounts payable paid by related party	41,025
Common stock issued for settlement of debt	1,614,439
Common stock issued for conversion of debt	$ 11,400

XML

CONDENSED INTERIM STATEMENT OF CASH FLOWS (Parenthetical)	9 Months Ended
	Mar. 31, 2018 shares
Statement of Cash Flows [Abstract]
Share issuance per assets acquisition, shares	4,000,000
Share cancellation, shares	6,500,000

XML

NATURE AND CONTINUANCE OF OPERATIONS

9 Months Ended

Mar. 31, 2018

Notes to Financial Statements

NOTE 1 - NATURE AND CONTINUANCE OF OPERATIONS

Bionovate Technologies Corp. (the “Company”, or the “Corporation”) was incorporated in the state of Nevada, United States on October 24, 2012 under the name MJP International Ltd. On December 1, 2017, the Company’s corporate name was changed to Bionocate Technologies Corp.

The Corporation was formed and organized to capitalize on new opportunities found in the North American market for light-emitting diode (“LED”) lighting. With China as the manufacturing backbone of future LED products, the Corporation has set up an office in Guangzhou, China in search of high quality products offered by reputable manufacturers to be introduced to Canada, the United States, and abroad. The Corporation has set out further details of the acquisition below as well as in Notes 3 and 4 to these consolidated financial statements.

On February 5, 2016, Energy Alliance Labs Inc. (“Energy Alliance”), incorporated on February 5, 2016, entered into an agreement to acquire 80% of the issued and outstanding equity interests of Human Energy Alliance Laboratories Corp., an Idaho corporation (“HEAL”) from certain shareholders of HEAL for $80,000. The cash for the acquisition of shares was transferred to the shareholders on November 1, 2016 and that is when the acquisition closed. Subsequent to the transfer of cash, the previous shareholders of the Company owned 80% of the issued and outstanding shares of HEAL.

On October 28, 2016, the Company entered into a Share Exchange Agreement (the “Share Exchange Agreement”) with Liao Zu Guo, an individual residing in China, whereby the Company issued 80,000 shares of its common stock in exchange for 100% of the issued and outstanding equity interests of Energy Alliance. Subsequent to the execution of the Share Exchange Agreement, Liao Zu Gao became a member of the Board of Directors of the Company.

On January 1, 2017, the Company entered into transfer agreement with Liao Zu Guo, whereby the Company transferred 100% of issued and outstanding equity interests of Energy Alliance for $20,000 for past services provided by Executive to the Company and agreed to assume the debt of Energy Alliance owed to the Liao Zu Guo in the aggregate amount of $28,239.

On December 1, 2017, a majority of stockholders and the board of directors approved a reverse stock split of the issued and outstanding shares of common stock on a fifty (50) old for one (1) new basis. A Certificate of Amendment was filed with the Nevada Secretary of State on December 11, 2017 with an effective date of December 21, 2017. All share and per share information in these financial statements retroactively reflect this stock distribution.

Our executive offices are located at 3006 E. Goldstone Drive, Suite 218, Meridian, ID 83642. Our telephone number is (208) 231 – 1606.

Going Concern

These condensed interim financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Corporation and its subsidiaries will be able to meet its obligations and continue its operations for the next fiscal year. Realizable values may be substantially different from carrying values as shown and these condensed interim financial statements, which do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Corporation be unable to continue as a going concern. At March 31, 2018, the Corporation had not yet achieved profitable operations and has an accumulated loss of $2,265,206 since inception. The Corporation expects to incur further losses, all of which casts substantial doubt about the Corporation’s ability to continue as a going concern. The Corporation’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management anticipates that additional funding will be in the form of equity financing from the sale of common stock. Management may also seek to obtain short-term loans from the directors of the Corporation. There are no current arrangements in place for equity funding or short-term loans.

XML

BASIS OF PRESENTATION

9 Months Ended

Mar. 31, 2018

Notes to Financial Statements

NOTE 2 - BASIS OF PRESENTATION

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q and Article 210 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All such adjustments are of a normal recurring nature. Operating results for the nine months ended March 31, 2018, are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2017. For further information, refer to the financial statements and footnotes thereto included in the Corporation’s filed Form 10-K for the year ended June 30, 2017.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect application of policies and the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. Actual results could differ from these estimates. Estimates and their underlying assumptions are reviewed on an ongoing basis. Changes in estimates are recorded in the accounting period in which they are determined. The critical accounting estimates and assumptions in the accompanying unaudited condensed interim financial statements include the provision for unpaid loss and loss adjustment expenses which may result from product warranty provisions; valuation of deferred income taxes; valuation and impairment assessment of intangible assets; goodwill recoverability; and deferred acquisition costs.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Mar. 31, 2018

Notes to Financial Statements

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Foreign currency translation and functional currency conversion

Prior to July 1, 2017, the Company’s functional currency was the Canadian dollar. Translation gains and losses from the application of the U.S. dollar as the reporting currency during the period that the Canadian dollar was the functional currency are included as part of cumulative currency translation adjustment, which is reported as a component of shareholders’ equity under accumulated other comprehensive loss.

The Company re-assessed its functional currency and determined as at Jul 1, 2017, its functional currency changed from the Canadian dollar to the U.S. dollar based on management’s analysis of changes in our organization. The change in functional currency is accounted for prospectively from July 1, 2017 and financial statements prior to and including the period ended December 31, 2016 have not been restated for the change in functional currency.

For periods commencing July 1, 2017, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Opening balances related to non-monetary assets and liabilities are based on prior period translated amounts, and non-monetary assets and non-monetary liabilities incurred after Jul 1, 2017 are translated at the approximate exchange rate prevailing at the date of the transaction. Revenue and expense transactions are translated at the approximate exchange rate in effect at the time of the transaction. Foreign exchange gains and losses are included in the statement of operations and comprehensive loss as foreign exchange gains.

Revenue Recognition

The Corporation recognizes revenue when persuasive evidence of an arrangement exists, shipment has occurred or services rendered, the price is fixed or determinable and payment is reasonably assured. Customers take ownership at point of sale and bear the costs and risks of delivery.

We currently do not have operations, and its management seeks to acquire cash generating businesses.

Fair Value of Financial Instrument

The Corporation follows FASB ASC 820, Fair Value Measurements and Disclosures, for all financial instruments and non-financial instruments accounted for at fair value on a recurring basis. This new accounting standard establishes a single definition of fair value and a framework for measuring fair value, sets out a fair value hierarchy to be used to classify the source of information used in fair value measurement and expands disclosures about fair value measurements required under other accounting pronouncements. It does not change existing guidance as to whether or not an instrument is carried at fair value. The Corporation defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Corporation considers the principal or most advantageous market in which the Corporation would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

The Corporation applies FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Corporation has not elected the fair value option for any eligible financial instruments.

Basic and Diluted Loss per Common Stock

FASB ASC 260 requires dual presentation of basic and diluted earnings per share (EPS) with a reconciliation of the numerator and denominator of the EPS computations. Basic earnings per share amounts are based on the weighted average shares of common stock outstanding. If applicable, diluted earnings per stock would assume the conversion, exercise or issuance of all potential common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. Diluted net income (loss) per common stock on the potential exercise of the equity-based financial instruments is not presented where anti-dilutive.

XML

DISCONTINUED OPERATOINS

9 Months Ended

Mar. 31, 2018

Notes to Financial Statements

NOTE 4 - DISCONTINUED OPERATOINS

On January 1, 2017, MJP entered into transfer agreement with Liao Zu Guo, whereby MJPI transferred 100% of issued and outstanding equity interests of Energy Alliance for consideration of $20,000 and assumption of debt of $28,239 for past services provided by Executive to the Company. There is no planned future involvement with Energy Alliance, however Liao Zu Guo continues to hold a position on the board of directors

During the nine months ended March 31, 2017, the Company recorded a gain on the sale of $21,359. The Company has no continuing involvement in the operations of Energy Alliance and its subsidiary HEAL. The sale of Energy Alliance qualified as a discontinued operation of the Company and accordingly, the Company has excluded results of Energy Alliance operations from its Statements of Operations and Comprehensive Income (Loss) to present this business in discontinued operations.

The following table shows the results of operations of Energy Alliance and HEAL for the period ended January 1, 2017 which are included in the loss from discontinued operations:

	Nine months ended
	March 31,
	2018		2017
Revenue	$	-	$	1,987
Cost of goods sold		-		923
Gross profit		-		1,064
General & administration		-		5,352
Professional fees		-		200
Operating loss		-		(4,488	)
Gain from sale of investment		-		21,359
Loss from discontinued operations	$	-	$	16,871

XML

CONVERTIBLE NOTE

9 Months Ended

Mar. 31, 2018

Notes to Financial Statements

NOTE 5 - CONVERTIBLE NOTE

Convertible notes payable at March 31, 2018 and June 30, 2017, consists of the following:

	March 31,		June 30,
	2018		2017
Dated November 1, 2016	$	4,439	$	8,239
Dated January 1, 2017 - 1		10,489		14,289
Dated January 1, 2017 - 2		6,200		10,000
Dated January 1, 2017 - 3		3,492		3,468
Dated June 30, 2017		9,969		9,969
Total convertible notes payable		34,589		45,965
Less: Unamortized debt discount		-		(2,746	)
Total convertible notes		34,589		43,219
Less: current portion of convertible notes		34,589		43,219
Long-term convertible notes	$	-	$	-

For the nine months ended March 31, 2018 and 2017, the Company recognized interest expense of $10,895 and $3,374 and amortization of discount, included in interest expense, of $2,746 and $31,122, respectively. As of March 31, 2018, and June 30, 2017, the Company recorded accrued interest of $18,352 and $6,703, respectively

Dated November 1, 2016

On November 1, 2016, the Company issued a convertible note with a conversion price of $0.005 to extinguish debt of $18,239. The convertible note is unsecured, bears interest at 4% per annum and due and payable on November 1, 2017. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $18,239. During the nine months ended March 31, 2018, the convertible note of $3,800 was converted into 760,000 shares of common stock.

Dated January 1, 2017 - 1

On January 1, 2017, the Company issued a convertible note with a conversion price of $0.005 to extinguish amounts due to related parties of $10,000. The convertible note is unsecured, bears interest at 45% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $10,000. During the nine months ended March 31, 2018, the convertible note of $3,800 was converted into 760,000 shares of common stock.

Dated January 1, 2017 - 2

On January 1, 2017, the Company issued a convertible note with a conversion price of $0.005 to extinguish amounts due to related parties of $14,289. The convertible note is unsecured, bears interest at 45% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $14,289. During the nine months ended March 31, 2018, the convertible note of $3,800 was converted into 760,000 shares of common stock.

Dated January 1, 2017 - 3

On January 1, 2017, the Company issued a convertible note with a conversion price of $0.005 to extinguish amounts due to related parties of $3,352 (Canadian dollar (“CAD”) $4,500). The convertible note is unsecured, bears interest at 45% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $3,352 (CAD $4,500). The difference of amount was a result of change of exchange rate.

Dated June 30, 2017

On June 30, 2017, the Company issued a convertible note with a conversion price of $0.01 to pay operating expenses of $9,969. The convertible note is unsecured, bears interest at 35% per annum, has no maturity date and due on demand. The Company recorded a discount on the convertible note due to a beneficial conversion feature of $9,969.

XML

DUE TO RELATED PARTIES

9 Months Ended

Mar. 31, 2018

Notes to Financial Statements

NOTE 6 - DUE TO RELATED PARTIES

As at March 31, 2018, the Company was obligated to shareholders for funds advanced to the Corporation for working capital.

During the nine months ended March 31, 2018, the Company’s CEO paid accounts payable of $41,025 on behalf of the Company. The loans are unsecured, non-interest bearing and due on demand.

On July 1, 2017, the Company entered into an employment agreement with CEO of the Company which the Company shall pay a cash based base salary of $65,000 from July 1, 2017 through December 31, 2017. For the nine months ended March 31, 2018, the Company recorded accrued salary of $65,000. On February 7, 2018, the Company issued 13,000,000 shares of common stock to settle accrued salary of $65,000. As a result, the Company recorded loss on settlement of debt of $1,549,439.

As of March 31, 2018, and June 30, 2017, the Corporation owed related parties $148,216 (CAD 191,000) and $147,848 (CAD 191,000), respectively. The advances are unsecured, non-interest bearing and no payback schedule has been established.

As of March 31, 2018, and June 30, 2017, due to related party was $189,241 and $147,185, respectively.

XML

CAPITAL STOCK

9 Months Ended

Mar. 31, 2018

Notes to Financial Statements

NOTE 7 - CAPITAL STOCK

During the nine months ended March 31, 2018, the Company issued common stock as follows;

· 2,280,000 shares of common stock for conversion of debt of $11,400.

· 13,000,000 shares of common stock for conversion of accrued salary of $65,000.

· 349 shares of common stock to correct the shares issued and outstanding after the reverse stock split on December 21, 2017.

As at March 31, 2018 and June 30, 2017, 15,579,749 and 299,400 shares of common stock were issued and outstanding, respectively.

As at March 31, 2018, there were no warrants or options outstanding.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Mar. 31, 2018

Summary Of Significant Accounting Policies Policies

Foreign currency translation and functional currency conversion

Prior to July 1, 2017, the Company’s functional currency was the Canadian dollar. Translation gains and losses from the application of the U.S. dollar as the reporting currency during the period that the Canadian dollar was the functional currency are included as part of cumulative currency translation adjustment, which is reported as a component of shareholders’ equity under accumulated other comprehensive loss.

The Company re-assessed its functional currency and determined as at Jul 1, 2017, its functional currency changed from the Canadian dollar to the U.S. dollar based on management’s analysis of changes in our organization. The change in functional currency is accounted for prospectively from July 1, 2017 and financial statements prior to and including the period ended December 31, 2016 have not been restated for the change in functional currency.

For periods commencing July 1, 2017, monetary assets and liabilities denominated in foreign currencies are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Opening balances related to non-monetary assets and liabilities are based on prior period translated amounts, and non-monetary assets and non-monetary liabilities incurred after Jul 1, 2017 are translated at the approximate exchange rate prevailing at the date of the transaction. Revenue and expense transactions are translated at the approximate exchange rate in effect at the time of the transaction. Foreign exchange gains and losses are included in the statement of operations and comprehensive loss as foreign exchange gains.

Revenue Recognition

The Corporation recognizes revenue when persuasive evidence of an arrangement exists, shipment has occurred or services rendered, the price is fixed or determinable and payment is reasonably assured. Customers take ownership at point of sale and bear the costs and risks of delivery.

We currently do not have operations, and its management seeks to acquire cash generating businesses.

Fair Value of Financial Instrument

The Corporation follows FASB ASC 820, Fair Value Measurements and Disclosures, for all financial instruments and non-financial instruments accounted for at fair value on a recurring basis. This new accounting standard establishes a single definition of fair value and a framework for measuring fair value, sets out a fair value hierarchy to be used to classify the source of information used in fair value measurement and expands disclosures about fair value measurements required under other accounting pronouncements. It does not change existing guidance as to whether or not an instrument is carried at fair value. The Corporation defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Corporation considers the principal or most advantageous market in which the Corporation would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

The Corporation applies FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Corporation has not elected the fair value option for any eligible financial instruments.

Basic and Diluted Loss per Common Stock

FASB ASC 260 requires dual presentation of basic and diluted earnings per share (EPS) with a reconciliation of the numerator and denominator of the EPS computations. Basic earnings per share amounts are based on the weighted average shares of common stock outstanding. If applicable, diluted earnings per stock would assume the conversion, exercise or issuance of all potential common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. Diluted net income (loss) per common stock on the potential exercise of the equity-based financial instruments is not presented where anti-dilutive.

XML

DISCONTINUED OPERATOINS (Table)

9 Months Ended

Mar. 31, 2018

Discontinued Operatoins Table

Schedule of loss from discontinued operation

	Nine months ended
	March 31,
	2018		2017
Revenue	$	-	$	1,987
Cost of goods sold		-		923
Gross profit		-		1,064
General & administration		-		5,352
Professional fees		-		200
Operating loss		-		(4,488	)
Gain from sale of investment		-		21,359
Loss from discontinued operations	$	-	$	16,871

XML

CONVERTIBLE NOTE (Tables)

9 Months Ended

Mar. 31, 2018

Convertible Note Tables

Schedule of convertible note payable

	March 31,		June 30,
	2018		2017
Dated November 1, 2016	$	4,439	$	8,239
Dated January 1, 2017 - 1		10,489		14,289
Dated January 1, 2017 - 2		6,200		10,000
Dated January 1, 2017 - 3		3,492		3,468
Dated June 30, 2017		9,969		9,969
Total convertible notes payable		34,589		45,965
Less: Unamortized debt discount		-		(2,746	)
Total convertible notes		34,589		43,219
Less: current portion of convertible notes		34,589		43,219
Long-term convertible notes	$	-	$	-

XML

NATURE AND CONTINUANCE OF OPERATIONS (Details Narrative) - USD ($)		1 Months Ended	9 Months Ended
	Feb. 05, 2016	Oct. 28, 2016	Mar. 31, 2018	Jun. 30, 2017
State of incorporation			Nevada
Date of incorporation			Oct. 24, 2012
Reverse stock split			Fifty (50) old for one (1) new basis
Accumulated deficit			$ (2,265,206)	$ (626,563)
Human Energy Alliance Laboratories Corp [Member]
Issued and outstanding equity interests	80.00%
Liao Zu Guo [Member] | Human Energy Alliance Laboratories Corp [Member]
Cash for acquisition of shares	$ 80,000
Liao Zu Guo [Member] | Share Exchange Agreement [Member]
Issued and outstanding equity interests		100.00%
Number of common shares in exchange for issued and outstanding equity interests		80,000
Energy Alliance [Member] | Liao Zu Guo [Member] | January 1, 2017 - 1 [Member]
Issued and outstanding equity interests			100.00%
Assumption of due to related party			$ (28,239)
Consideration for past services provided by Executive to the company			$ 20,000

XML

DISCONTINUED OPERATOINS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Revenue				$ 5,386
Cost of goods sold				4,480
Gross profit				906
General & administration	1,361	21,502	71,540	31,468
Professional fees	9,211	8,079	16,000	49,914
Operating loss	(6,757)	(29,581)	(75,563)	(79,818)
Gain from sale of investment		21,359		21,359
Gain from discontinued operations		$ 16,871		16,871
Heal [Member] | January 1, 2017 [Member]
Revenue				1,987
Cost of goods sold				923
Gross profit				1,064
General & administration				5,352
Professional fees				200
Operating loss				(4,488)
Gain from sale of investment				21,359
Gain from discontinued operations				$ 16,871

XML

DISCONTINUED OPERATOINS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Gain from sale of investment		$ 21,359		$ 21,359
Energy Alliance [Member] | Liao Zu Guo [Member] | January 1, 2017 - 1 [Member]
Issued and outstanding equity interests	100.00%		100.00%
Assumption of due to related party	$ (28,239)		$ (28,239)
Consideration for past services provided by Executive to the company	$ 20,000		$ 20,000

XML

CONVERTIBLE NOTE (Details) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Total convertible notes payable	$ 34,589	$ 45,965
Less: Unamortized debt discount		(2,746)
Total convertible notes	34,589	43,219
Less: current portion of convertible notes	34,589	43,219
Long-term convertible notes
Convertible Notes Payable [Member] | November 1, 2016 [Member]
Total convertible notes payable	4,439	8,239
Convertible Notes Payable [Member] | January 1, 2017 - 1 [Member]
Total convertible notes payable	10,489	14,289
Convertible Notes Payable [Member] | January 1, 2017 - 2 [Member]
Total convertible notes payable	6,200	10,000
Convertible Notes Payable [Member] | January 1, 2017 - 3 [Member]
Total convertible notes payable	3,492	3,468
Convertible Notes Payable [Member] | June 30, 2017 [Member]
Total convertible notes payable	$ 9,969	$ 9,969

XML

CONVERTIBLE NOTE (Details Narrative) - USD ($)	9 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Convertible note beneficial conversion feature		$ 45,880
Amortization of debt discount	2,746	31,122
Interest expense	10,895	$ 3,374
Accrued interest	$ 18,352		$ 6,703
Convertible Notes Payable [Member]
Convertible note conversion price			$ 0.01
Convertible note bearing interest			35.00%
Convertible note beneficial conversion feature			$ 9,969
Operating expenses			$ 9,969
Convertible Notes Payable [Member] | January 1, 2017 - 3 [Member]
Convertible note conversion price	$ 0.005
Amount due to relates parties	$ 3,352
Convertible Notes Payable [Member] | January 1, 2017 - 2 [Member]
Convertible note conversion price	$ 0.005
Amount due to relates parties	$ 14,289
Convertible note bearing interest	45.00%
Convertible note beneficial conversion feature	$ 14,289
Convertible Notes Payable [Member] | January 1, 2017 - 1 [Member]
Convertible note conversion price	$ 0.005
Amount due to relates parties	$ 10,000
Convertible note bearing interest	45.00%
Convertible note beneficial conversion feature	$ 10,000
Convertible Notes Payable [Member] | November 1, 2016 [Member]
Convertible note conversion price	$ 0.005
Amount due to relates parties	$ 18,239
Convertible note bearing interest	4.00%
Maturity date	Nov. 01, 2017
Convertible note beneficial conversion feature	$ 18,239
Common stock converted, shares	760,000
Common stock converted, amount	$ 3,800
Convertible Notes Two [Member] | January 1, 2017 - 3 [Member]
Convertible note bearing interest	45.00%
Convertible note beneficial conversion feature	$ 3,352

XML

DUE TO RELATED PARTIES (Details Narrative) - USD ($)

3 Months Ended

9 Months Ended

Mar. 31, 2018

Sep. 30, 2017

Mar. 31, 2017

Mar. 31, 2018

Mar. 31, 2017

Feb. 07, 2018

Jun. 30, 2017

Accounts payable paid by related party

$ 41,025

Due to related parties

$ 189,241

189,241

$ 147,185

Corporation due to related parties

148,216

148,216

$ 147,848

Accrued salary

65,000

Loss on settlement of debt

$ 1,549,439

$ 1,549,439

Common stock issued shares for settlement of accrued salary

13,000,000

On July 1, 2017 [Member]

Description of salary agreement

the Company which the Company shall pay a cash based base salary of $65,000 from July 1, 2017 through December 31, 2017.

XML

CAPITAL STOCK (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Jun. 30, 2017
Equity [Abstract]
Common stock, shares issued	15,579,749		349	299,400
Common stock, shares outstanding	15,579,749		349	299,400
Common shares issue for conversion of accrued salary	13,000,000
Accrued salary	$ 65,000
Debt conversion, converted instrument, amount	$ 11,400
Debt conversion, converted instrument, shares issued	2,280,000