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DEFERRED FILM REVENUE
12 Months Ended
Jun. 30, 2019
Deferred Film Revenue [Abstract]  
DEFERRED FILM REVENUE

NOTE 5 – DEFERRED FILM REVENUE

 

On March 27, 2018, the Company entered into a Production Services Agreement with MVE Productions, LLC to provide production services for a film. In relation to the film, the Company created a Limited Liability Corporation, ‘Christmas Camp LLC.’ The Production Services Agreement was planned to run from April 9, 2018 to August 27, 2018. As of February 28, 2019, all criteria had been met in order for the Company to recognize revenue. During the year ended June 30, 2019 deferred revenue of $879,112 has been recognized as revenues.

 

On March 27, 2018, the Company entered into a Production Services Agreement with MVE Productions, LLC to provide production services for a film. In relation to the film, the Company created a Limited Liability Corporation, ‘Last Vermont Christmas LLC.’ The Production Services Agreement was planned to run from April 9, 2018 to September 28, 2018. As of March 18, 2019, all criteria had been met in order for the Company to recognize revenue. During the year ended June 30, 2019 deferred revenue of $899,234 has been recognized as revenues.

 

On June 19, 2018, the Company entered into a Production Services Agreement with MVE Productions, LLC to provide production services for a film. In relation to the film, the Company created a Limited Liability Corporation, ‘Country Christmas LLC.’ The Production Services Agreement will run from June 25, 2018 to October 15, 2018. The agreement is still ongoing as of the date of this filing. The Company has not recognized any film revenue for the year ended June 30, 2019. As of June 30, 2019, the Company has recorded $354,398 of deferred revenue in relation to this film.