Common Stock

12 Months Ended

Jun. 30, 2015

Equity [Abstract]

Common Stock

NOTE 7 – COMMON STOCK

On September 30, 2013, the Company issued 1,875,000 shares of restricted common stock at $0.08 per share for a private placement of $150,000.

On December 1, 2013, the Company issued 200,000 shares of restricted common stock at $0.08 per share for the rendering of business consulting services of $16,000. As of December 1, 2013, the current value was $0.23 per share.

On December 1, 2013, the Company issued 100,000 shares of restricted common stock at $0.23 per share for the rendering of business consulting services of $23,000. As of December 1, 2013, the current market value was $0.23 per share.

On December 4, 2013, the Company issued 5,000,000 shares of restricted common stock at $0.20 per share for a private placement of $1,000,000.

On December 11, 2013, the Company issued 6,000,000 shares of restricted common stock at $0.20 per share in lieu of $1,200,000 consideration for the acquisition of 70% interest in three gold exploration claims in the PRC. As of December 11, 2013, the current market value was $0.25 per share. On January 19, 2015, the Company and Yinfu mutually agreed to terminate the acquisition and cancel all 6,000,000 shares at the current market value of $0.10 per share.

On December 23, 2013, the Company issued 8,000,000 shares of restricted common stock at $0.375 per share plus $1,000,000 in cash for the acquisition of 24% equity interest in Everenergy with an aggregated consideration of $4,000,000. As of December 23, 2013, the current market value was $0.33 per share.

On February 11, 2014, the Company issued 100,000 shares of restricted common stock at $0.45 per share for the rendering of business consulting services of $45,000. As of February 11, 2014, the current market value was $0.45 per share.

On February 19, 2014, the Company issued 11,000,000 shares of restricted common stock at $0.45 per share for the acquisition of additional 29% equity interest in Everenergy in a consideration of $4,950,000. As of February 19, 2014, the current market value was $0.35 per share.

On June 16, 2014, the Company issued 653,823 shares of restricted common stock at $0.20 per share to settle a debt of $130,764 owed to the Chief Executive Officer and director of the Company. As of June 16, 2014, the current market value was $0.15 per share.

On September 17, 2014, the Board of Directors approved the cancellation of the total 19,000,000 shares of restricted common stocks issued for the acquisition of equity interest in Everenergy at a current market value of $0.12 per share. The 11,000,000 shares issued to Mr. Hu were effectively cancelled on October 21, 2014 and the remaining 8,000,000 shares issued to Mr. Tang are to be cancelled as of June 30, 2015.

On February 12, 2015, the Company issued 700,000 shares of restricted common stock at $0.10 per share to settle a debt of $70,000 owed to the Chief Executive Officer and director of the Company. As of February 12, 2015, the current market value was $0.10 per share.

On June 4, 2015, the Company issued 6,000,000 shares of restricted common stock at $0.10 per share for the rendering of business and strategic consulting services of $600,000 in a service period of twelve months commencing from June 2015. For the year ended June 30, 2015, the Company amortized $50,000 to the operations using the straight-line method. As of June 30, 2015, the deferred expenditure is recorded as $550,000.

On June 9, 2015, the Company issued 400,000 shares of restricted common stock at $0.10 per share for the rendering of administrative consulting services of $40,000. As of June 9, 2015, the current market value was $0.10 per share.

On June 26, 2015, the Board of Directors of the Company approved to issue 340,000 shares of restricted common stock at $0.15 per share to settle a debt of $51,000 owed to the Chief Executive Officer and director of the Company. All 340,000 shares were issued subsequently on July 2, 2015. As of June 26, 2015, the current market value was $0.16 per share.

There were no stock options, warrants or other potentially dilutive securities outstanding as at June 30, 2015 and 2014.

As of June 30, 2015 there are 21,872,118 shares of common stock issued and outstanding.