Shares to Be Issued

12 Months Ended

Jun. 30, 2022

Shares To Be Issued

Shares to Be Issued

26. Shares to Be Issued

On April 19, 2018, the Company entered into a consulting agreement with TAAD, LLP. (“the Consultant”) to provide certain financial reporting preparation services. The Company will grant the Consultant 5,000,000 shares of the Company’s stock per quarter as consulting fees. As of June 30, 2022 and 2021, 20,000,000 common shares for fiscal year 2022 and 5,000,000 common shares for fiscal year 2021 have not been issued to the Consultant. As of June 30, 2022 and 2021, the Company had potential shares to be issued in total amount of $54,500 and $27,500, respectively.

Starting July 1, 2021, Mr. Jimmy Chan, the Company’s CEO, receives an annual salary of $250,000 with 50,000,000 commons shares at the end of fiscal year 2022. In addition, upon closing of each acquisition, Mr. Chan will receive 10% of the purchase price as a special bonus. As of March 31, 2022 and June 30, 2021, 50,000,000 common shares for fiscal year 2022 and 50,000,000 common shares for fiscal year 2021 have not been issued to Mr. Chan. As of June 30, 2022 and 2021, the Company recorded potential shares to be issued in total amount of $228,577 and $110,577, respectively.

As of June 30, 2022 and 2021, the Company had total potential shares to be issued to the consulting agreement of $283,077 and $138,077, respectively.