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Shares to Be Issued
3 Months Ended
Sep. 30, 2022
Shares To Be Issued  
Shares to Be Issued

25. 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 September 30, 2022 and June 30, 2022, 30,000,000 and 25,000,000 common shares have not been issued to the Consultant. As of September 30, 2022 and June 30, 2022, the Company had potential shares to be issued in total amount of $56,000 and $54,500, 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 September 30, 2022 and June 30, 2022, 112,500,000 and 100,000,000 common shares have not been issued to Mr. Chan. As of September 30, 2022 and June 30, 2022, the Company recorded potential shares to be issued in total amount of $231,077 and $228,577, respectively.

 

As of September 30, 2022 and June 30, 2022, the Company had total potential shares to be issued to the consulting agreement of $287,077 and $283,077, respectively.