XML 18 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
BASIS OF PRESENTATION
9 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
1. BASIS OF PRESENTATION

The accompanying unaudited condensed financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and notes disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosure made is adequate to make the information not misleading.

 

While the information presented in the accompanying interim nine months financial statements is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented in accordance with accounting principles generally accepted in the United States of America. These interim financial statements follow the same accounting policies and methods of their application as the Company’s June 30, 2017 annual financial statements. All adjustments are of a normal recurring nature. It is suggested that these interim financial statements be read in conjunction with the Company’s June 30, 2017 annual financial statements. Operating results for the nine months ended March 31, 2018 are not necessarily indicative of the results that can be expected for the year ended June 30, 2018.