Subsequent Event

9 Months Ended

Mar. 31, 2018

Subsequent Event

Subsequent Event

16. Subsequent events

On June 26, 2018, the Company entered into a straight promissory note with a Nevada Company that is managed by one of our former director Mr. Yu for $150,820. The note has a term of six (6) months with an interest rate of 12%. On March 19, 2018, the Nevada Company agreed to settled the outstanding principle and interest balance of $150,820 for 1,508,200 shares of restricted common shares. The fair value of the 1,508,200 shares at settlement date was $0.175 per share x share counts.

On July 17, 2018, the Company entered into a convertible promissory note with a Nevada Company that is managed by one of our former director Mr. Yu for $164,900. The note has a term of twelve (12) months with an interest rate of 8% and is convertible into common shares at a fixed price of $0.025. On March 20, 2018, the Company issued 4,530,846 common shares in exchange for the conversion of $164,900 of convertible debt and accrued interest of $5,225.

On March 20, 2018, the Company entered a consulting agreement with a consultant for services related to sourcing and quality control. The service term is nine months, the company will issue 1,000,000 restricted common shares to the consultant in lieu of $50,000. The fair value of the 1,000,000 shares at grant date was $184,900.

On April 2, 2018 the Company sold 1,000,000 restricted common shares to an accredited investor for $50,000, at a price per share equal to $0.05.

On August 3, 2018, the Company entered into a convertible promissory note with an accredited investor for $150,000. The note has a term of nine (9) months with an interest rate of 10% and is convertible into common shares at a 45% discount. On April 3, 2018, the Company issued 2,234,696 common shares in exchange for the conversion of $159,781 of convertible debt and accrued interest of $9,781.

On April 18, 2018 the Company sold 1,428,571 restricted common shares to an accredited investor for $100,000, at a price per share equal to $0.07.

On April 19, 2018 the Company sold 1,171,429 restricted common shares to an accredited investor for $82,000, at a price per share equal to $0.07.

On April 20, 2018 the Company sold 1,828,571 restricted common shares to an accredited investor for $128,000, at a price per share equal to $0.07.

On May 8, 2018 the Company sold 2,400,000 restricted common shares to an accredited investor for $120,000, at a price per share equal to $0.05.

On May 10, 2018 the Company sold 1,000,000 restricted common shares to an accredited investor for $50,000, at a price per share equal to $0.05.

On May 11, 2018 the Company sold 300,000 restricted common shares to an accredited investor for $15,000, at a price per share equal to $0.05.

On May 14, 2018 the Company sold 1,000,000 restricted common shares to an accredited investor for $50,000, at a price per share equal to $0.05.

On May 14, 2018 the Company sold 1,000,000 restricted common shares to an accredited investor for $50,000, at a price per share equal to $0.05.

On May 28, 2018 the Company sold 1,000,000 restricted common shares to an accredited investor for $50,000, at a price per share equal to $0.05.

On June 8, 2018 the Company entered into a consulting agreement for services to assist the Company in exploring and identifying corporate acquisitions and other strategies to accelerate the Company’s growth. In return for the consultant’s services, the Company will issue 500,000 restricted common shares for $500.00 at a discounted price per share equal to $0.001. The fair value of the 500,000 shares at the grant date was $70,000. Additionally, consultant will be compensated $10,000 per month for the period of Six (6) months, consultant may choose to convert any portion of this cash compensation to common shares; such shares will be value at 15% discount to the lowest closing price for the seven (7) trading days before such election is made.

On June 8, 2018 the Company entered into a consulting agreement for services to assist the Company in exploring and identifying corporate acquisitions and other strategies to accelerate the Company’s growth. In return for the consultant’s services, the Company will issue 500,000 restricted common shares for $1,000.00 at a discounted price per share equal to $0.001. The fair value of the 500,000 shares at the grant date was $70,000. Additionally, consultant will be compensated $15,000 per month for the period of Six (6) months, consultant may choose to convert any portion of this cash compensation to common shares; such shares will be value at 15% discount to the lowest closing price for the seven (7) trading days before such election is made.