ORGANIZATION AND DESCRIPTION OF BUSINESS

3 Months Ended

Sep. 30, 2018

Notes to Financial Statements

1. ORGANIZATION AND DESCRIPTION OF BUSINESS

Banny Cosmic International Holdings, Inc., formerly “Wincash Apolo Gold & Energy, Inc., (“the Company”) was incorporated in March of 1997 under the laws of the State of Nevada primarily for the purpose of acquiring and developing mineral properties.

On October 12, 2017, the Company acquired Gain First Group Corporation (“Gain First”), a corporation formed under the laws of the British Virgin Islands. Gain First had signed a sole agency agreement with De Lassalle Ltd., a wine producer located in France, to distribute De Lassalle’s wine products in Greater China region. On December 12, 2017, Gain First signed another sole agency with De Lassalle to distribute De Lassalle’s wine products in South East Asia.

During the first quarter ended September 30, 2018, the Company incorporated two additional subsidiaries, Banny Cosmic Group Limited, a Hong Kong company, and Shenzhen Qianhai Volcanic Lava Cross-border Trading Co. Ltd., a People’s Republic of China company, to conduct its wine distribution business in China.