NOTE 6 - INCOME TAX PROVISION: Schedule of Income tax provision (Tables)

12 Months Ended

Jun. 30, 2020

Tables/Schedules

Schedule of Income tax provision

Income tax expense for the years ended June 30, 2020 and 2019 differed from the amounts computed by applying the U.S. federal income tax rate of 21 percent respectively as follows:

Income tax provision
		June 30,		June 30,
		2020		2019
Income tax benefit at U.S. federal statutory rates	$	(50,113)	$	(67,951)
Effect of:
Change in valuation allowance		50,113		67,951
Provision for income taxes	$	-	$	-

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets at June 30, 2020 and 2019 are presented below:

		June 30,		June 30,
		2020		2019
Deferred tax assets
Net operating losses	$	(7,907,034)		(7,851,921)
Common stock issued for services		130,273		130,273
Debt issued for financing costs		10,500		10,500
Impairment of related parties receivables		269,541		269,541
Change in derivative liabilities		5,892		5,892
Gain on sale of assets		1,456		1,456
Increase (decrease) in valuation allowances		7,489,372		7,434,259
Net deferred taxes	$	-	$	-