EQUITY INVESTMENT

12 Months Ended

Jun. 30, 2024

Equity Method Investments and Joint Ventures [Abstract]

EQUITY INVESTMENT

NOTE 11 – EQUITY INVESTMENT

On June 30, 2020, the Company and Purecell Group (“Purecell”), a leading anti-aging medical institution in Australia, entered into a Cooperation Agreement, in which the Company agreed to acquire 51% of the equity of Purecell, as consideration, the Company shall issue 510,000,000 common shares to Purecell’s nominated trustee. Becausethe company does not have significant control over Purecell, so this is an equity investment. Upon completion of the acquisition transaction, Purecell shall remain autonomy in its day-to-day operation, including recruiting and retaining management team members. On February 10, 2021, the Company completed its financial and legal due diligence. On April 6, 2021, the Company issued 510,000,000 shares to two shareholders of Purecell Group PTY Ltd (“Purecell” ) in exchange of 51% of ownership of Purecell. On April 6, 2021, the Company issued 50,000,000 shares of common stock to Purecell’s project introducer as compensation for services, at fair market value of $0.00001 per share.

On May 11, 2021, Aussie Produce PTY LTD (“AP”) signed an agreement with Purecell to invest $2,340,000 in exchange of 6% of total outstanding shares of Purecell and 35,000,000 shares of the Company owned by Purecell. Purecell will issue 6% shares to AP in exchange for the $2,340,000 investment. In addition, Purecell will issue 68,372 shares to AP and issue 71,163 shares to the Company. The Company will also issue additional 31,212,000 shares to Purecell. Purecell will use the proceeds to acquire VERITA PHARMA, which is a medicine factory. In order to complete the change of 35,000,000 shares of the Company held by Purecell to AP within the agreed time limit, and to meet the conditions that AP investment funds are in place, the Company and Purecell agreed through consultation that in order to gain time, the Company will issue an additional 35,000,000 shares for AP. On May 26, 2021, the Company issued 35,000,000 shares to shareholder of AP, at fair market value of $0.00001 per share.

The following table summarizes the income statement of Purecell.

	From date of			From date of
	equity			equity
	Investment to			investment to
	06/30/2024			06/30/2023
Sales	$	61,457		$	270,931
Gross profit		61,457			246,441
Net loss		(294,904	)		(307,359	)
51% share	$	(150,401	)	$	(156,753	)

The following table provides the summary of balance sheet information for Purecell. Because the 51% of Purecell losses exceeded the investment the Company made to Purecell, the value of investment is zero,

	As of June 30,			As of June 30,
	2024			2023
Total assets	$	3,092,663		$	3,192,224
Net assets		2,021,541			2,203,484
51% ownership		1,030,986			1,231,113
Beginning balance of investment, May 11, 2021		5,450			5,450
Loss on equity investment - accumulated		(5,450	)		(5,450	)
Ending balance of investment, June 30, 2024					-