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GOING CONCERN
9 Months Ended
Mar. 31, 2023
GOING CONCERN  
GOING CONCERN

NOTE E - GOING CONCERN

 

The Company’s activities consist solely of corporate formation, raising capital and attempting to sell products to generate revenues.

 

There is no guarantee that the Company will be able to raise enough capital or generate revenues to sustain its operations and carry out its business plan. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for one year from the issue date of these financial statements.

 

The financial statements do not include any adjustments relating to the carrying amounts of recorded assets or the carrying amounts and classification of recorded liabilities that may be required should the Company be unable to continue as a going concern.

 

As of March 31, 2023, the Company had no revenues, a working capital deficiency of $126,754 and an accumulated deficit of $426,078. And as of June 30, 2022, a working capital deficiency of $213,186, and an accumulated deficit of $412,010

 

The Company’s lack of operating history and financial resources raise substantial doubt about its ability to continue as a going concern. Management’s plans are to acquire FAMCe (formerly known as First America Metal Corporation), a company owned primarily by Mr. Jian Li, or another operating company. The financial statements do not include adjustments that might result from the outcome of this uncertainty and if the Company is unable to generate significant revenue or secure financing, then the Company may be required to cease or curtail its operations. However, on March 20th, 2023, the company received a cash infusion of $100,500 from its President, Mr. Jian Li to fully develop its business model of offering real estate and trading options to nascent battery technologies here in the United States. Developments have previously been put on hold due to Geopolitical events and Covid related Shutdowns.