NOTE 5 - CAPITAL STOCK

9 Months Ended

Mar. 31, 2022

Notes

NOTE 5 - CAPITAL STOCK

NOTE 5 – STOCKHOLDERS’ DEFICT

Preferred Stock – The Company is authorized to issue 10,000,000 shares of preferred stock. No preferred stock has been issued to date. The authorized preferred shares are non-voting and the Board of Directors has not designated any liquidation value or dividend rates.

Common Stock – The Company is authorized to issue 250,000,000 shares of no-par value common stock. The holders of the Company's common stock are entitled to one vote for each share held of record on all matters to be voted on by those stockholders. As of March 31, 2022, and June 30, 2021, the Company had 209,955,598 and 206,955,598 shares of common stock issued and 209,901,842 and 206,901,842 shares outstanding, respectively.

During the nine-months ended March 31, 2022, the Company sold 1,000,000 shares of its common stock for approximately $11,867 in cash proceeds to one individual at price of approximately $0.0119 per share. The Company sold 1,616,556 shares of its common stock for approximately $16,478 in cash proceeds to one individual at price of approximately $ 0.0102 per share. It was also agreed with the same individual to settle a liability of the company of $8,435 by issuing 383,444 shares of its common stock. This resulted in a loss on settlement of accounts payable of $4,254, which was charged to shareholders' equity.

Treasury Stock - The Company holds 53,756 of its common stock as treasury stock, which is recorded at $19,387 as of March 31, 2022.