NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Foreign Currency Translation (Policies)

6 Months Ended

Dec. 31, 2020

Policies

Foreign Currency Translation

Foreign Currency Translation

Assets and liabilities of the Company's foreign operations are translated into U.S. dollars at period-end exchange rates. Net exchange gains or losses resulting from such translation are excluded from net loss but are included in comprehensive loss and accumulated in a separate component of stockholders' equity (deficit). Income and expenses are translated at average exchange rates for the period.

Exchanges rates used for the preparation of the consolidated balance sheet as of December 31, 2020 and June 30, 2020 and our unaudited consolidated statements of operations for the three- month period ended December 31, 2020 and 2019, were calculated as follows:

as of December 31, 2020	0.818065
as of December 31, 2019	0.891600
July 1, 2020 through December 31, 2020	0.847054
July 1, 2019 through December 31, 2019	0.900817

The Company accounts for the transactions denominated in foreign currencies in the Parent Company’s books as transaction gains (losses) recognized in Other income.