SUBSEQUENT EVENTS

12 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 12 – SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date the consolidated financial statements were issued. Based on our evaluation no events have occurred that require disclosure, other than those disclosed below.

On July 16, 2019, the Company received notice that Country Christmas Album has been confirmed as completed and delivered in accordance with the agreement terms.

Subsequent to year end, the Company dissolved CXA Movie, LLC on October 5, 2019. In addition, the Company dissolved FWIL, LLC on September 16, 2019.

Subsequent to June 30, 2019, the Company amended the following terms of promissory notes:

- Promissory note of $150,000, dated February 7, 2018, $15,000 of interest payable to be paid through the issuance of 20,000 common shares. The shares have been issued as of the date of this report.

- Promissory note of $80,000, dated January 4, 2018. Maturity date has been extended to June 30, 2020. Amended interest payable is 10% of the loan payable in common stock of Almost Never Films. The shares have not yet been issued as of the date of this report.

- Promissory note of $100,000, dated February 6, 2018. Maturity date has been extended to June 30, 2020. New principal amount is $50,000.

- Promissory note of $350,000, dated September 19, 2017. Maturity date has been extended to June 30, 2020.

- Promissory note of $150,000, dated October 11, 2017. Maturity date has been extended to June 30, 2020. New principal amount is $50,000 with interest of 10%, as $100,000 has been transfer to a new lender.

- Two new promissory notes of $50,000 and $100,000 were entered, bearing interest at 10%. These new notes replaced amounts due on previously issued promissory notes.