10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2021

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to ______

Commission File Number 000-55849

LEGACY VENTURES INTERNATIONAL, INC

(Exact name of registrant as specified in its charter)

Nevada	30-0826318
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
27 Baycliffe Rd. Markham, ON, L3R 7T9 (Address of principal executive offices) (Zip Code)
647-969-7383 (Registrant’s telephone number, including area code)

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. 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). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a 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 ☐	Smaller reporting company ☒
(Do not check if smaller reporting company)	Emerging growth company ☐

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 ☐ No ☒

As of November 15, 2021, there were 315,064 outstanding shares of the registrant’s common stock, $0.0001 par value per share

TABLE OF CONTENTS

	Page No.
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements	3
Item 2. Management’s Discussion and Analysis	11
Item 3. Quantitative and Qualitative Disclosures About Market Risk	12
Item 4. Controls and Procedures	12
PART II – OTHER INFORMATION
Item 1. Legal Proceedings	13
Item 1A. Risk Factors	13
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	13
Item 3. Defaults Upon Senior Securities	13
Item 4. Mine Safety Disclosures	13
Item 5. Other Information	13
Item 6. Exhibits	13

2

PART I

FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS REQUIRED BY FORM 10-Q

The Interim Condensed Financial Statements of the Company are prepared as of September 30, 2021

CONTENTS
Interim Condensed Balance Sheets	4
Interim Condensed Statements of Operations and Comprehensive Income (Loss)	5
Interim Condensed Statements of Stockholders’ Deficiency	6
Interim Condensed Statements of Cash Flows	7
Notes to the Interim Condensed Financial Statements	8

3

LEGACY VENTURES INTERNATIONAL, INC.

INTERIM CONDENSED BALANCE SHEETS

(unaudited)

(Express in United States Dollars (“US dollars”), except for number of shares)

	Note		September 30, 2021			June 30, 2021 (audited)
ASSETS
Current assets
Cash			$	-		$	22,780
Total assets			$	-		$	22,780
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
Current liabilities
Accounts payable and accrued liabilities		5	$	95,154		$	140,609
Secured promissory notes		4		-			165,000
Convertible notes		4		-			20,000
Interest payable		4		-			32,418
Advances from third parties		5		-			22,925
Total liabilities			$	95,154		$	380,952
Stockholders’ deficiency
Preferred Stock, $0.0001 par value; 10,000,000 shares authorized:
Preferred Stock - no shares issued and outstanding September 30, 2021, and June 30, 2021		7	$	-		$	-
Common Stock, $0.0001 par value; 100,000,000 shares authorized:
Common Stock - 315,064 shares issued and outstanding September 30, 2021 and June 30, 2021		7		32			32
Additional paid in capital				6,394,771			6,394,771
Accumulated deficit				(6,489,957	)		(6,752,975	)
Total stockholders’ deficiency				(95,154	)		(358,172	)
Total liabilities and stockholders’ deficiency			$	-		$	22,780

See accompanying notes to the unaudited interim condensed financial statements

4

LEGACY VENTURES INTERNATIONAL, INC.

INTERIM CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(unaudited)

(Express in United States Dollars (“US dollars”), except for number of shares)

			For the three months ended September 30,
	Note		2021			2020
Operating expenses
Professional fees		5	$	5,440		$	13,250
Other general and administration expenses				3,720			1,316
Loss from operations				(9,160	)		(14,566	)
Other income (expenses)
Interest expense - Convertible and Secured notes		4		(13,363	)		(3,668	)
Gain on cancellation of secured promissory notes and convertible notes				225,000			-
Gain on cancellation of interest payable				45,781			-
Gain on cancellation of third party advances and accrued liabilities				14,760			-
Bank charges and other				-			21
Total other income (expenses)				272,178			(3,647	)
Income (Loss) before taxes				263,018			(18,213	)
Net income (loss) and comprehensive income (loss)			$	263,018		$	(18,213	)
Net income (loss) per share - basic and diluted		6	$	0.83		$	(0.06	)
Weighted average number of common shares outstanding - basic and diluted				315,064			315,064

See accompanying notes to the unaudited interim condensed financial statements

5

LEGACY VENTURES INTERNATIONAL, INC.

INTERIM CONDENSED STATEMENTS OF STOCKHOLDERS’ DEFICIENCY

(unaudited)

(Express in United States Dollars (“US dollars”), except for number of shares)

		Common Stock
	Note	Number of Shares		Amount		Additional paid in capital		Deficit			Total
June 30, 2020			315,064	$	32	$	6,394,771	$	(6,650,583	)	$	(255,780	)
Net loss			-		-		-		(18,213	)		(18,213	)
September 30, 2020			315,064	$	32	$	6,394,771	$	(6,668,796	)	$	(273,993	)

		Common Stock
	Note	Number of Shares		Amount		Additional paid in capital		Deficit			Total
June 30, 2021			315,064	$	32	$	6,394,771	$	(6,752,975	)	$	(358,172	)
Net income			-		-		-		263,018			263,018
September 30, 2021			315,064	$	32	$	6,394,771	$	(6,489,957	)	$	(95,154	)

See accompanying notes to the unaudited interim condensed financial statements

6

LEGACY VENTURES INTERNATIONAL, INC.

INTERIM CONDENSED STATEMENTS OF CASH FLOWS

(unaudited)

(Express in United States Dollars (“US dollars”), except for number of shares)

	For the three months ended September 30,
	2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	263,018		$	(18,213	)
Gain on cancellation of secured promissory notes and convertible notes		(225,000	)
Gain on cancellation of interest payable		(45,781	)
Gain on cancellation of third party advances and accrued liabilities		(14,760	)
Changes in non-cash operating assets and liabilities
Interest payable - Convertible notes		13,363			3,668
Advances from third parties		(20,055	)		-
Accounts payable and accrued liabilities		(33,565	)		12,566
Net cash flows used in operating activities		(62,780	)		(1,979	)
CASH FLOWS FROM FINANCING ACTIVITY:
Proceeds from secured convertible note		40,000			-
Net cash flows provided by financing activity		40,000			-
Decrease in cash		(22,780	)		(1,979	)
Cash, beginning of period		22,780			15,136
Cash, end of period	$	-		$	13,157
Cash payments for:
Interest	$	-		$	-
Income taxes	$	-		$	-

See accompanying notes to the unaudited interim condensed financial statements

7

LEGACY VENTURES INTERNATIONAL, INC.

NOTES TO THE UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS

(unaudited)

(Express in United States Dollars (“US dollars”), except for number of shares)

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Legacy Ventures International, Inc. (“Legacy” or the “Company”), was incorporated on March 4, 2014 under the laws of the State of Nevada. The Company currently has no ongoing operations except for the incurring of general and administrative expenditures.

On August 9, 2018, the former holder of 91% of the outstanding shares of common stock of the Company, approved the appointment of Peter Sohn as the Chief Executive Officer and Chief Financial Officer and Director of the Company. Effective December 17, 2018, and Mr. Sohn accepted the appointments as Chief Executive Officer and Chief Financial Officer and Director of the Company.

On December 17, 2018, the former of 91% of the outstanding shares of common stock of the Company delivered to Peter Sohn an agreement for the acquisition by Mr. Sohn of the Shares from Mr. Letcavage, which agreement was dated August 9, 2018, but was delivered and deemed effective on December 17, 2018 (the “Agreement”). As a result, Mr. Sohn was able to unilaterally control the election of our Board of Directors, all matters upon which shareholder approval was required and, ultimately, the direction of the Company.

COVID-19

The outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and conditions of the Company in future periods. To date the Company has not experienced any impacts as a result of COVID-19.

NOTE 2 – GOING CONCERN AND BASIS OF PRESENTATION

The Company’s unaudited interim condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of September 30, 2021, the Company has a working capital deficiency of $95,154, and an accumulated deficit of $6,489,957. The Company’s continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. There can be no assurance that the necessary debt or equity financing will be available, or will be available on terms acceptable to the Company, in which case the Company may be unable to meet its obligations. Should the Company be unable to realize its assets and discharge its liabilities in the normal course of business, the net realizable value of its assets may be materially less than the amounts recorded in the unaudited interim condensed financial statements. The unaudited interim condensed financial statements do not include any adjustments relating to the recoverability of recorded asset amounts that might be necessary should the Company be unable to continue in existence.

NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS

SIGNIFICANT ACCOUNTING POLICIES

The Company’s significant accounting policies have not changed from the year ended June 30, 2021.

The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10–Q and Rule 10 of Regulation S–X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these unaudited condensed interim financial statements. These unaudited condensed interim financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10–K for the fiscal year ended June 30, 2021, as filed with the SEC on September 28, 2021. Operating results for the three months ended September 30, 2021, are not necessarily indicative of the results that may be expected for any subsequent quarter or for the year ending June 30, 2022.

8

LEGACY VENTURES INTERNATIONAL, INC.

NOTES TO THE UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS

(Expressed in US dollars)

(Unaudited)

NOTE 4 – SECURED PROMISSORY AND CONVERTIBLE NOTES

Secured Promissory Note

On December 2, 2018, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $50,000, and is payable on December 2, 2019 (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The Secured Note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the three months ended September 30, 2021 and 2020 was $2,391 and $2,391, respectively.

On September 6, 2019, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $50,000, and is payable on September 6, 2020 (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the three months ended September 30, 2021 and 2020, was $2,391 and $1,039, respectively.

On October 1, 2020, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $65,000, and is payable on October 1, 2021, (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18%. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the three months ended September 30, 2021 and 2020, was $655 and $0, respectively.

On August 13, 2021, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $40,000, and is payable on August 13, 2022, (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the three months ended September 30, 2021 and 2020, was $470 and $nil, respectively.

As of September 30, 2021, each note holder has agreed to entered into a cancellation and release agreement to provide conclusive evidence of the cancellation, settlement and full and final mutual release with respect to all and any rights, obligations and disputes among the Parties arising under the Secured Note. There is no outstanding interest payable nor outstanding secured promissory note. The cancellation of secured promissory notes and the cancellation of interest payable were recorded as a gain on the statement of operation and comprehensive income (loss). The principal amount of $205,000, plus accumulated interest of $33,941, were forgiven.

Unsecured Convertible Promissory Notes

On June 28, 2017 the Company issued $20,000 of unsecured convertible promissory notes (“Convertible Notes”). The notes were assigned to 5 different arm’s length parties, each holding $4,000. The Convertible Notes matured on June 27, 2018, and bear interest at a rate of 8% per annum, and 12% for amounts owing past the default date. The Convertible Notes are convertible into the Common Stock of the Company at a fixed conversion rate of $0.75 per share at any time prior to the maturity date. The Company evaluated the terms and conditions of the Convertible Notes under the guidance of ASC 815, Derivatives and Hedging. The conversion feature met the definition of conventional convertible for purposes of applying the conventional convertible exemption. The definition of conventional contemplates a limitation on the number of shares issuable under the arrangement. The instrument was convertible into a fixed number of shares and there were no down round protection features contained in the contracts. The Company was required to consider whether the hybrid contracts embodied a beneficial conversion feature (“BCF”). The calculation of the effective conversion amount resulted in a BCF because the fair value of the conversion was greater than the Company’s stock price on the date of issuance and a BCF was recorded in the amount of $20,000 and accordingly the amount of $20,000 was credited to Additional Paid in Capital. The BCF which represents debt discount is accreted over the life of the loan using the effective interest rate. Interest expense for the three months ended September 30, 2021 and 2020 was $248 and $238, respectively.

As of September 30, 2021, each note holder has agreed to entered into a cancellation and release agreement to provide conclusive evidence of the cancellation, settlement and full and final mutual release with respect to all and any rights, obligations and disputes among the Parties arising under the Secured Note. Three is no outstanding interest payable nor outstanding secured promissory note. The cancellation of convertible promissory notes and the cancellation of interest payable were recorded as a gain on the statement of operation and comprehensive income (loss). The principal amount of $20,000, plus accumulated interest of $11,840, were forgiven.

9

LEGACY VENTURES INTERNATIONAL, INC.

NOTES TO THE UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS

(Expressed in US dollars)

(Unaudited)

NOTE 5 – RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES

The Company was previously advanced funds by a third party, the funds were used to pay certain professional fees including auditors, and accountants. The Company has agreed with the third party with respect to settlement of the amount advanced. As of September 30, 2021, there is no outstanding amount owe to third party.

For the three months ended September 30, 2021, there were no related party transactions.

For the three months ended September 30, 2020, $3,000 was paid to the Company’s sole Director and Officer, the amount expensed is in Professional fees in the interim unaudited condensed statements of operations and comprehensive income (loss). There were no other related party transactions.

NOTE 6 - BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

The Company follows ASC Topic 260 to account for the income (loss) per share. Basic income (loss) per common share (“EPS”) calculations are determined by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the year. Diluted income (loss) per common share calculations are determined by dividing net loss by the weighted average number of common shares and dilutive common share equivalents (if dilutive) outstanding. All dilutive common share equivalents were anti-dilutive for the three months ended September 30, 2021 and 2020.

NOTE 7 - COMMON AND PREFERRED STOCK TRANSACTIONS

As of September 30, 2021, the Company was authorized to issue 10,000,000 of preferred stock, with a par value of $0.0001 and 100,000,000 of common stock, with a par value of $0.0001.

There were no common stock transactions in the three months ended September 30, 2021 and 2020.

As of September 30, 2021, and June 30, 2021, the Company had 315,064 common stock issued and outstanding.

NOTE 8 - SUBSEQUENT EVENTS

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after September 30, 2021 up through the date the Company issued the interim condensed financial statements.

10

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

This report contains forward-looking statements that involve risks and uncertainties. We use words such as anticipate, believe, plan, expect, future, intend and similar expressions to identify such forward-looking statements. You should not place too much reliance on these forward-looking statements. The Company’s actual results are likely to differ materially from those anticipated in these forward-looking statements for many reasons.

Plan of Operation

Legacy Ventures International, Inc. (“Legacy” or the “Company”), was incorporated on March 4, 2014 under the laws of the State of Nevada.

Liquidity and Capital Resources

As of September 30, 2021, the Company’s primary source of liquidity consisted of $0 (June 30, 2021 - $22,780) in cash. The Company financed its operations through a combination of advances from third parties and the issuance of secured promissory notes and convertible promissory notes.

On August 13, 2021, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $40,000, and is payable on August 13, 2022, (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted, the terms of which are to be negotiated between the Company and the note holder.

The Company has sustained net losses which have resulted in a total stockholders’ deficiency at September 30, 2021, and is currently experiencing a shortfall in operating capital which raises substantial doubt about the Company’s ability to continue as a going concern. The Company anticipates a net loss for the year ending June 30, 2022 and with the expected cash requirements for the coming months, without additional cash inflows from a corporate transaction, there is substantial doubt as to the Company’s ability to continue operations.

We may seek to secure additional debt or equity capital to finance substantial business development initiatives. There is presently no agreement in place with any source of financing for the Company and there can be no assurance that the Company will be able to raise any additional funds, or that such funds will be available on acceptable terms. Funds raised through future equity financing will likely be substantially dilutive to current shareholders. Lack of additional funds will materially affect the Company and its business, and may cause the Company to cease operations. Consequently, shareholders could incur a loss of their entire investment in the Company.

Net Cash Used in Operating Activities

During the three months ended September 30, 2021, cash used in operations was $62,780 and $1,979 for the three months ended September 30, 2020, respectively. Cash used in operating activities was primarily the result of settlement of accrual liabilities.

Net Cash Used in Investing Activities

There was no cash used in or provided from investing activities for the three months ended September 30, 2021 and 2020.

Net Cash Provided by Financing Activity

There was cash provided from financing activity of $40,000 and $0, respectively for the three months ended September 30, 2021 and 2020, as a result of the proceeds received from the issuance of a secured promissory note.

11

Results of Operations

Operating expenses. Operating expenses for the three months ended September 30, 2021, was $9,160 compared with $14,566 for the three months ended September 30, 2020. Operating expenses were lower with the three months ended September 30, 2020 largely due to lower professional fees.

Other income (expenses). Other income was higher for the three months ended September 30, 2021, compared with the other expenses for the three months ended September 30, 2020, primarily due to gain on cancellation of secured promissory notes and convertible notes, gain on cancellation of interest payable and gain on cancellation of third party advances and accrued liabilities.

Net income (Loss). Net income for the three months ended September 30, 2021, was $263,018, compared with net loss of $18,213 for the three months ended September 30, 2020.

Off-Balance Sheet Arrangements

We do not have any off balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources that is material to investors.

Personnel

The Company has no full-time employees, but utilizes other project-based contract personnel to carry out the Company’s business. We utilize contract personnel on a continuous basis, primarily in connection with the filing of reports with the Securities and Exchange Commission which require a high level of specialization for one or more of the service components offered.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not Required.

Item 4. Controls and Procedures.

The Securities and Exchange Commission defines the term “disclosure controls and procedures” to mean a Company’s controls and other procedures of an issuer that are designed to ensure that information required to be disclosed in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange 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 Securities Exchange Act of 1934 is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. The Company maintains such a system of controls and procedures in an effort to ensure that all information which it is required to disclose in the reports it files under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified under the SEC’s rules and forms and that information required to be disclosed is accumulated and communicated to principal executive and principal financial officers to allow timely decisions regarding disclosure.

As of the end of the period covered by this Quarterly Report, the Company carried out an evaluation, under the supervision and with the participation of the Company’s chief executive officer and chief financial officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures pursuant to Exchange Act Rules 13a-15(b) and 15d-15(b). Based upon this evaluation, the Company’s chief executive officer and chief financial officer concluded that the Company’s disclosure controls and procedures as of the end of the period covered by this Quarterly Report were ineffective due to a lack of segregation of duties, due to limited administrative and financial personnel and related resources and as the Company only has one director.

Changes in Internal Control over Financial Reporting

There have been no significant changes in the Company’s internal controls over financial reporting that occurred during the period ended September 30, 2021, that have materially or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.

12

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

We are not currently subject to any legal proceedings, and to the best of our knowledge, no such proceeding is threatened, the results of which would have a material impact on the Company’s properties, results of operations, or financial condition. Nor, to the best of our knowledge, are any of the Company’s officers or directors involved in any legal proceedings in which we are an adverse party.

Item 1A. Risk Factors

Since we are 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 August 13, 2021, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $40,000, and is payable on August 13, 2022, (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The note was cancelled on September 30, 2021.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures.

Not Applicable.

Item 5. Other Information.

None.

Item 6. Exhibits.

The following exhibits are filed with or incorporated by reference in this report:

Item No.	Description
31.1*	Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for Ying Feng LAI.
32.1*	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 for Ying Feng LAI.
101*	XBRL Report

* filed herewith

13

	LEGACY VENTURES INTERNATIONAL, INC.
Date: November 15, 2021	By:	/s/ Ying Feng LAI
	Name:	Ying Feng LAI
	Title:	Chief Financial Officer and Principal Executive Officer

14

EX-31.1

Exhibit 31.1

CERTIFICATION

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Ying Feng LAI of Legacy Ventures International,Inc. (the “Company”), certify that:

1. I have reviewed this 10-Q of the Company;

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 Company as of, and for, the periods presented in this report;

4. As the Company’s Principal Executive Officer and Principal Financial and Accounting Officer I am 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 Company 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 Company, including its consolidated 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 Company’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 Company’s internal control over financial reporting that occurred during the Company’s most recent fiscal quarter (the Company’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting; and

5. As the Company’s Principal Executive Officer and Principal Financial and Accounting Officer I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the Company’s auditors and the audit committee of the Company’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 Company’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 Company’s internal control over financial reporting.

Date: November 15, 2021

/s/ Ying Feng LAI

Ying Feng LAI

Principal Executive Officer

and Principal Financial and Accounting Officer

EX-32.1

Exhibit 32.1

CERTIFICATION

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Ying Feng LAI, Principal Executive Officer and Principal Financial and Accounting Officer of Legacy Ventures International, Inc. (the “Company”) certify that:

1. I have reviewed the quarterly report on Form 10-Q of the Company;

2. Based on my knowledge, this quarterly 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 quarterly report; and

3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the period presented in this quarterly report.

Date: November 15, 2021

/s/ Ying Feng LAI

Ying Feng LAI

Principal Executive Officer

and Principal Financial and Accounting Officer

XML

Cover - shares	3 Months Ended
	Sep. 30, 2021	Nov. 15, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--06-30
Entity File Number	000-55849
Entity Registrant Name	LEGACY VENTURES INTERNATIONAL, INC
Entity Central Index Key	0001616788
Entity Tax Identification Number	30-0826318
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	27 Baycliffe Rd
Entity Address, City or Town	Markham
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	L3R 7T9
City Area Code	647
Local Phone Number	969-7383
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		315,064

XML

Interim Condensed Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Current assets
Cash		$ 22,780
Total assets		22,780
Current liabilities
Accounts payable and accrued liabilities	95,154	140,609
Secured promissory notes		165,000
Convertible notes		20,000
Interest payable		32,418
Advances from third parties		22,925
Total liabilities	95,154	380,952
Stockholders’ deficiency
Preferred Stock - no shares issued and outstanding September 30, 2021, and June 30, 2021
Common Stock - 315,064 shares issued and outstanding September 30, 2021 and June 30, 2021	32	32
Additional paid in capital	6,394,771	6,394,771
Accumulated deficit	(6,489,957)	(6,752,975)
Total stockholders’ deficiency	(95,154)	(358,172)
Total liabilities and stockholders’ deficiency		$ 22,780

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Interim Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Jun. 30, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	315,064	315,064
Common stock, shares outstanding	315,064	315,064

XML

Interim Condensed Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating expenses
Professional fees	$ 5,440	$ 13,250
Other general and administration expenses	3,720	1,316
Loss from operations	(9,160)	(14,566)
Other income (expenses)
Interest expense - Convertible and Secured notes	(13,363)	(3,668)
Gain on cancellation of secured promissory notes and convertible notes	225,000
Gain on cancellation of interest payable	45,781
Gain on cancellation of third party advances and accrued liabilities	14,760
Bank charges and other		21
Total other income (expenses)	272,178	(3,647)
Income (Loss) before taxes	263,018	(18,213)
Net income (loss) and comprehensive income (loss)	$ 263,018	$ (18,213)
Net income (loss) per share - basic and diluted	$ 0.83	$ (0.06)
Weighted average number of common shares outstanding - basic and diluted	315,064	315,064

XML

Interim Condensed Statements of Stockholder's Deficiency (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Balance, June 30, 2021	$ (358,172)	$ (255,780)
Net income (loss)	263,018	(18,213)
Balance, September 30, 2021	(95,154)	(273,993)
Common Stock [Member]
Balance, June 30, 2021	$ 32	$ 32
Beginning balance, shares	315,064	315,064
Net income (loss)
Balance, September 30, 2021	$ 32	$ 32
Ending balance, shares	315,064	315,064
Additional Paid-in Capital [Member]
Balance, June 30, 2021	$ 6,394,771	$ 6,394,771
Net income (loss)
Balance, September 30, 2021	6,394,771	6,394,771
AOCI Attributable to Parent [Member]
Balance, June 30, 2021	(6,752,975)	(6,650,583)
Net income (loss)	263,018	(18,213)
Balance, September 30, 2021	$ (6,489,957)	$ (6,668,796)

XML

Interim Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 263,018	$ (18,213)
Gain on cancellation of secured promissory notes and convertible notes	(225,000)
Gain on cancellation of interest payable	(45,781)
Gain on cancellation of third party advances and accrued liabilities	(14,760)
Changes in non-cash operating assets and liabilities
Interest payable - Convertible notes	13,363	3,668
Advances from third parties	(20,055)
Accounts payable and accrued liabilities	(33,565)	12,566
Net cash flows used in operating activities	(62,780)	(1,979)
CASH FLOWS FROM FINANCING ACTIVITY:
Proceeds from secured convertible note	40,000
Net cash flows provided by financing activity	40,000
Decrease in cash	(22,780)	(1,979)
Cash, beginning of period	22,780	15,136
Cash, end of period		13,157
Cash payments for:
Interest
Income taxes

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ORGANIZATION AND DESCRIPTION OF BUSINESS

3 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Legacy Ventures International, Inc. (“Legacy” or the “Company”), was incorporated on March 4, 2014 under the laws of the State of Nevada. The Company currently has no ongoing operations except for the incurring of general and administrative expenditures.

On August 9, 2018, the former holder of 91% of the outstanding shares of common stock of the Company, approved the appointment of Peter Sohn as the Chief Executive Officer and Chief Financial Officer and Director of the Company. Effective December 17, 2018, and Mr. Sohn accepted the appointments as Chief Executive Officer and Chief Financial Officer and Director of the Company.

On December 17, 2018, the former of 91% of the outstanding shares of common stock of the Company delivered to Peter Sohn an agreement for the acquisition by Mr. Sohn of the Shares from Mr. Letcavage, which agreement was dated August 9, 2018, but was delivered and deemed effective on December 17, 2018 (the “Agreement”). As a result, Mr. Sohn was able to unilaterally control the election of our Board of Directors, all matters upon which shareholder approval was required and, ultimately, the direction of the Company.

COVID-19

The outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and conditions of the Company in future periods. To date the Company has not experienced any impacts as a result of COVID-19.

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GOING CONCERN AND BASIS OF PRESENTATION

3 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GOING CONCERN AND BASIS OF PRESENTATION

NOTE 2 – GOING CONCERN AND BASIS OF PRESENTATION

The Company’s unaudited interim condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of September 30, 2021, the Company has a working capital deficiency of $95,154, and an accumulated deficit of $6,489,957. The Company’s continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. There can be no assurance that the necessary debt or equity financing will be available, or will be available on terms acceptable to the Company, in which case the Company may be unable to meet its obligations. Should the Company be unable to realize its assets and discharge its liabilities in the normal course of business, the net realizable value of its assets may be materially less than the amounts recorded in the unaudited interim condensed financial statements. The unaudited interim condensed financial statements do not include any adjustments relating to the recoverability of recorded asset amounts that might be necessary should the Company be unable to continue in existence.

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SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS

3 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS

SIGNIFICANT ACCOUNTING POLICIES

The Company’s significant accounting policies have not changed from the year ended June 30, 2021.

The accompanying unaudited condensed interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10–Q and Rule 10 of Regulation S–X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America. However, in the opinion of the management of the Company, all adjustments necessary for a fair presentation of the financial position and operating results have been included in these unaudited condensed interim financial statements. These unaudited condensed interim financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10–K for the fiscal year ended June 30, 2021, as filed with the SEC on September 28, 2021. Operating results for the three months ended September 30, 2021, are not necessarily indicative of the results that may be expected for any subsequent quarter or for the year ending June 30, 2022.

LEGACY VENTURES INTERNATIONAL, INC.

NOTES TO THE UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS

(Expressed in US dollars)

(Unaudited)

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SECURED PROMISSORY AND CONVERTIBLE NOTES

3 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

SECURED PROMISSORY AND CONVERTIBLE NOTES

NOTE 4 – SECURED PROMISSORY AND CONVERTIBLE NOTES

Secured Promissory Note

On December 2, 2018, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $50,000, and is payable on December 2, 2019 (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The Secured Note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the three months ended September 30, 2021 and 2020 was $2,391 and $2,391, respectively.

On September 6, 2019, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $50,000, and is payable on September 6, 2020 (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the three months ended September 30, 2021 and 2020, was $2,391 and $1,039, respectively.

On October 1, 2020, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $65,000, and is payable on October 1, 2021, (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18%. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted into shares of common stock of the Company, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the three months ended September 30, 2021 and 2020, was $655 and $0, respectively.

On August 13, 2021, the Company issued a Secured Promissory Note (“Secured Note”) to an accredited investor. The Secured Note has an aggregate principal amount of $40,000, and is payable on August 13, 2022, (the “Maturity Date”), and bears an interest rate of 4% per annum and a default interest rate of 18% per annum. The amount owing under the Secured Note is secured by the assets of the Company. The note may be converted, the terms of which are to be negotiated between the Company and the note holder. Interest expense for the three months ended September 30, 2021 and 2020, was $470 and $nil, respectively.

As of September 30, 2021, each note holder has agreed to entered into a cancellation and release agreement to provide conclusive evidence of the cancellation, settlement and full and final mutual release with respect to all and any rights, obligations and disputes among the Parties arising under the Secured Note. There is no outstanding interest payable nor outstanding secured promissory note. The cancellation of secured promissory notes and the cancellation of interest payable were recorded as a gain on the statement of operation and comprehensive income (loss). The principal amount of $205,000, plus accumulated interest of $33,941, were forgiven.

Unsecured Convertible Promissory Notes

On June 28, 2017 the Company issued $20,000 of unsecured convertible promissory notes (“Convertible Notes”). The notes were assigned to 5 different arm’s length parties, each holding $4,000. The Convertible Notes matured on June 27, 2018, and bear interest at a rate of 8% per annum, and 12% for amounts owing past the default date. The Convertible Notes are convertible into the Common Stock of the Company at a fixed conversion rate of $0.75 per share at any time prior to the maturity date. The Company evaluated the terms and conditions of the Convertible Notes under the guidance of ASC 815, Derivatives and Hedging. The conversion feature met the definition of conventional convertible for purposes of applying the conventional convertible exemption. The definition of conventional contemplates a limitation on the number of shares issuable under the arrangement. The instrument was convertible into a fixed number of shares and there were no down round protection features contained in the contracts. The Company was required to consider whether the hybrid contracts embodied a beneficial conversion feature (“BCF”). The calculation of the effective conversion amount resulted in a BCF because the fair value of the conversion was greater than the Company’s stock price on the date of issuance and a BCF was recorded in the amount of $20,000 and accordingly the amount of $20,000 was credited to Additional Paid in Capital. The BCF which represents debt discount is accreted over the life of the loan using the effective interest rate. Interest expense for the three months ended September 30, 2021 and 2020 was $248 and $238, respectively.

As of September 30, 2021, each note holder has agreed to entered into a cancellation and release agreement to provide conclusive evidence of the cancellation, settlement and full and final mutual release with respect to all and any rights, obligations and disputes among the Parties arising under the Secured Note. Three is no outstanding interest payable nor outstanding secured promissory note. The cancellation of convertible promissory notes and the cancellation of interest payable were recorded as a gain on the statement of operation and comprehensive income (loss). The principal amount of $20,000, plus accumulated interest of $11,840, were forgiven.

LEGACY VENTURES INTERNATIONAL, INC.

NOTES TO THE UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS

(Expressed in US dollars)

(Unaudited)

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RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES

3 Months Ended

Sep. 30, 2021

Related Party Transactions [Abstract]

RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES

NOTE 5 – RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES

The Company was previously advanced funds by a third party, the funds were used to pay certain professional fees including auditors, and accountants. The Company has agreed with the third party with respect to settlement of the amount advanced. As of September 30, 2021, there is no outstanding amount owe to third party.

For the three months ended September 30, 2021, there were no related party transactions.

For the three months ended September 30, 2020, $3,000 was paid to the Company’s sole Director and Officer, the amount expensed is in Professional fees in the interim unaudited condensed statements of operations and comprehensive income (loss). There were no other related party transactions.

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BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

3 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

NOTE 6 - BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

The Company follows ASC Topic 260 to account for the income (loss) per share. Basic income (loss) per common share (“EPS”) calculations are determined by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the year. Diluted income (loss) per common share calculations are determined by dividing net loss by the weighted average number of common shares and dilutive common share equivalents (if dilutive) outstanding. All dilutive common share equivalents were anti-dilutive for the three months ended September 30, 2021 and 2020.

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COMMON AND PREFERRED STOCK TRANSACTIONS

3 Months Ended

Sep. 30, 2021

Equity [Abstract]

COMMON AND PREFERRED STOCK TRANSACTIONS

NOTE 7 - COMMON AND PREFERRED STOCK TRANSACTIONS

As of September 30, 2021, the Company was authorized to issue 10,000,000 of preferred stock, with a par value of $0.0001 and 100,000,000 of common stock, with a par value of $0.0001.

There were no common stock transactions in the three months ended September 30, 2021 and 2020.

As of September 30, 2021, and June 30, 2021, the Company had 315,064 common stock issued and outstanding.

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SUBSEQUENT EVENTS

3 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 8 - SUBSEQUENT EVENTS

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after September 30, 2021 up through the date the Company issued the interim condensed financial statements.

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ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	Aug. 09, 2018
Former Holder [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of common stock outstanding	91.00%
Peter Sohn [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of outstanding shares acquired	91.00%

XML

GOING CONCERN AND BASIS OF PRESENTATION (Details Narrative) - USD ($)	Sep. 30, 2021	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital deficiency	$ 95,154
Accumulated deficit	$ 6,489,957	$ 6,752,975

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SECURED PROMISSORY AND CONVERTIBLE NOTES (Details Narrative) - USD ($)				1 Months Ended		3 Months Ended
	Aug. 13, 2021	Oct. 02, 2020	Dec. 02, 2018	Sep. 06, 2019	Jun. 28, 2017	Sep. 30, 2021	Sep. 30, 2020
Additional Paid-in Capital [Member]
Debt Instrument [Line Items]
Beneficial Conversion Feature						$ 20,000
Secured Promissory Note [Member]
Debt Instrument [Line Items]
Debt instruments principal amount						205,000
Debt instruments principal interest						33,941
Secured Promissory Note [Member] | Accredited Investor [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 40,000	$ 65,000	$ 50,000	$ 50,000
Maturity date	Aug. 13, 2022	Oct. 01, 2021	Dec. 02, 2019	Sep. 06, 2020
Interest rate	4.00%	4.00%	4.00%	4.00%
Default interest rate	18.00%	18.00%	18.00%	18.00%
Interest expense						2,391	$ 2,391
Secured Promissory Note1 [Member] | Accredited Investor [Member]
Debt Instrument [Line Items]
Interest expense						2,391	1,039
Secured Promissory Note2 [Member] | Accredited Investor [Member]
Debt Instrument [Line Items]
Interest expense						655	0
Secured Promissory Note3 [Member] | Accredited Investor [Member]
Debt Instrument [Line Items]
Interest expense						470	0
Unsecured Convertible Promissory Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount					$ 20,000
Maturity date					Jun. 27, 2018
Interest rate					8.00%
Interest expense						248	$ 238
Debt instruments principal amount						20,000
Debt instruments principal interest						11,840
Conversion Price					$ 0.75
Carrying value of convertible note						$ 20,000

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RELATED PARTY ADVANCES AND BALANCES, AND ADVANCES FROM THIRD PARTIES (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Related Party Transaction [Line Items]
Advances from third parties			$ 22,925
Related Parties fees	0
Director And Officer [Member]
Related Party Transaction [Line Items]
Related Parties fees	$ 0	$ 3,000

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COMMON AND PREFERRED STOCK TRANSACTIONS (Details Narrative) - $ / shares	Sep. 30, 2021	Jun. 30, 2021
Equity [Abstract]
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares issued	315,064	315,064
Common stock, shares outstanding	315,064	315,064