Income Tax

6 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income Tax

6. INCOME TAX

The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. For the three and six months ended December 31, 2016, the Company incurred an operating loss of $21,342 and $43,494, respectively. As of December 31, 2016, the operations in the United States of America incurred $16,094,320 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss carryforwards begin to expire in the year 2017 through 2034, if unutilized. The Company has provided for a full valuation allowance of $5,633,012 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.