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Note 4. Convertible Note
6 Months Ended
Dec. 31, 2017
Notes  
Note 4. Convertible Note

Note 4. Convertible Note

On July 8, 2017, we issued a convertible promissory note to Securities Compliance Corp., bearing interest at 1% per annum until paid or converted. Interest will be payable upon the maturity date at July 7, 2018. Under the term of the convertible note the Company can receive up to $50,000 in securities compliance services. As of December 31, 2017, Securities Compliance Corp. has provided services valued at $25,000 to the Company. The conversion price of the note is $0.008 per share. The closing price of the Company's common stock on July 7, 2017 was $0.007 per share. The notes represent the fair value of services provided without cost covering several years.

On September 1, 2017, we entered into a Loan Agreement with Ivo Heiden, our sole officer and director, under which we receive funding for general operating expenses from time-to-time as needed by the Company. The Loan Agreement bears interest of 8% per annum and shall be due and payable on a date 366 days from the date of the loan. As of December 31, 2017, the outstanding balance on this loan was $10,552.

In accordance with ASC # 815, Accounting for Derivative Instruments and Hedging Activities, we evaluated the note holder's non-detachable conversion right provision and liquidated damages clause, contained in the terms governing the Convertible Note to determine whether the features qualify as an embedded derivative instrument at issuance. Such non-detachable conversion right provision and liquidated damages clause did not need to be accounted as derivative financial instruments.