10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q/A

Amendment No. 1

(Mark One)

  X .

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended

December 31, 2015

Or

 .

TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _____ 

Commission File Number 333-183870

AMI JAMES BRANDS, INC.

(Exact name of registrant as specified in its charter)

Nevada	N/A
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

1360 Washington Ave., Miami Beach, FL	33139
(Address of principal executive offices)	(Zip Code)

305-531-4556

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     X . YES  . NO

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     X . YES  . NO

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	.	Accelerated filer	.
Non-accelerated filer	.  (Do not check if a smaller reporting company)	Smaller reporting company	X .

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)   . YES   X . NO

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.    . YES  . NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

20,278,888 common shares issued and outstanding as of December 31st, 2015.

1

Explanatory Note

The purpose of this Amendment No. 1 on Form 10–Q/A to Ami James Brands, Inc.’s quarterly report on Form 10–Q for the period ended December 31, 2015, filed with the Securities and Exchange Commission on March 17, 2016 (the “Form 10–Q”), is solely to furnish Exhibit 101 to the Form 10–Q in accordance with Rule 405 of Regulation S–T.

No other changes have been made to the Form 10–Q.  This Amendment No. 1 speaks as of the original filing date of the Form 10–Q, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update in any way disclosures made in the original Form 10–Q.

2

PART II - OTHER INFORMATION

Item 6.

Exhibits

Exhibit Number	Description
(101)**	Interactive Data Files
101.INS 101.SCH 101.CAL 101.DEF 101.LAB 101.PRE	XBRL Instance Document XBRL Taxonomy Extension Schema Document XBRL Taxonomy Extension Calculation Linkbase Document XBRL Taxonomy Extension Definition Linkbase Document XBRL Taxonomy Extension Label Linkbase Document XBRL Taxonomy Extension Presentation Linkbase Document

**

Furnished herewith. Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of any registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, and otherwise are not subject to liability under those sections.

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 

		AMI JAMES BRANDS, INC.
Dated: May 23, 2016	By:	/s/ Ami James
		Ami James
		President, Secretary, Treasurer and Director
		(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

3

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Document and Entity Information	6 Months Ended
	Dec. 31, 2015 shares
Document and Entity Information:
Entity Registrant Name	AMI JAMES BRANDS, INC.
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Trading Symbol	ajbi
Amendment Flag	false
Entity Central Index Key	0001557565
Current Fiscal Year End Date	--06-30
Entity Common Stock, Shares Outstanding	20,278,888
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2

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Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Current Assets
Cash	$ 1,242	$ 1,290
Amounts held in legal trust account	6,000	0
Prepaid expense	0	5,417
Total Assets	7,242	6,707
Current Liabilities
Accounts payable and accrued liabilities	42,697	44,555
Related party payables (Note 3)	152,152	152,150
Loans payable (Note 4)	76,548	73,790
Convertible debentures, net of discount of $13,900 and $0, respectively (Note 7)	6,100	0
Derivative liabilities (Note 8)	40,535	0
Total Liabilities	318,032	270,495
Stockholders' Deficit
Preferred stock, 100,000,000 shares authorized, $0.00001 par value; no shares issued and outstanding	0	0
Common stock, 100,000,000 shares authorized, $0.00001 par value; 20,278,888 shares issued and outstanding	203	203
Additional paid-in capital	48,802	48,802
Deficit	(359,795)	(312,793)
Total Stockholders' Deficit	(310,790)	(263,788)
Total Liabilities and Stockholders' Deficit	$ 7,242	$ 6,707

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Consolidated Balance Sheets Parentheticals - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Parentheticals
Convertible debentures, discount	$ 13,900	$ 0
Preferred Stock, par value	$ 0.00001	$ 0.00001
Preferred Stock, shares authorized	100,000,000	100,000,000
Common Stock, par value	$ 0.00001	$ 0.00001
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	20,278,888	20,278,888
Common Stock, shares outstanding	20,278,888	20,278,888

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Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Operating Expenses {1}
Bank charges	$ 278	$ 23	$ 517	$ 23
Foreign exchange (gain) loss	(29)	(213)	680	(266)
General and administrative	0	0	0	0
Interest expense	1,898	628	3,631	1,025
Professional fees	22,970	6,032	37,296	18,282
Consulting fees	0	24,000	0	48,000
Transfer agent and filing fees	2,167	1,570	5,417	5,772
Travel expenses	0	0	15	0
Total Operating Expenses	27,284	32,040	47,556	72,836
Loss from Operations	(27,284)	(32,040)	(47,556)	(72,836)
Other Income (Expenses)
Accretion	(2,483)	0	(6,100)	0
Change in fair value of derivatives	(15,343)	0	(23,035)	0
Gain on write-off of accounts payable	0	0	29,689	0
Net Loss	$ (45,110)	$ (32,040)	$ (47,002)	$ (72,836)
Net Loss Per Share - Basic and Diluted	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted Average Shares Outstanding	20,278,888	20,278,888	20,278,888	20,278,888

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities
Net loss	$ (47,002)	$ (72,836)
Amortization of convertible debt discount	6,100	0
Change in fair value of derivative	23,035	0
Loss on write-off of accounts payable	(29,689)	0
Changes in operating assets and liabilities:
Amounts held in legal trust account	(6,000)	0
Prepaid expenses	5,417	0
Accounts payable and accrued liabilities	27,477	7,191
Related party payables	2	48,000
Accrued interest payable	3,112	17,625
Net Cash Used In Operating Activities	(17,548)	(20)
Cash Flows from Financing Activities
Proceeds from issuance of convertible debt	17,500	0
Net Cash Provided by Financing Activities	17,500	0
Decrease in Cash	(48)	(20)
Cash - Beginning of Period	1,290	2,705
Cash - End of Period	1,242	2,685
Supplementary Information:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

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Nature of Business and Continuance of Operations

6 Months Ended

Dec. 31, 2015

Nature of Business and Continuance of Operations

Nature of Business and Continuance of Operations

1.

Nature of Business and Continuance of Operations

Ami James Brands, Inc. (formerly Quorum Corp.) (the “Company”) was incorporated in the State of Nevada on November 23, 2011. The Company’s previous operations consisted of a website focused on markets located in the eastern Africa that provided a medium where sellers can sell their specialty services, and buyers can purchase these services. Upon execution of the License Agreement as described in Note 6, the Company changed its business direction to focus on the manufacturing, distribution, sales and marketing of the Ami James brand. The Company has not generated any revenue to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise.

These consolidated financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. For the period from inception on November 23, 2011 through December 31, 2015, the Company has incurred accumulated losses totaling $359,795. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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Summary of Significant Accounting Policies

6 Months Ended

Dec. 31, 2015

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

2.

Summary of Significant Accounting Policies

a)

Basis of Presentation

The unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Securities and Exchange Commission (“SEC”) Form 10-Q. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Therefore, these unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended June 30, 2015, included in the Company’s Annual Report on Form 10- K/A filed on October 15, 2015, with the SEC.

The consolidated financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position at December 31, 2015 the results of its operations for the three months and six months ended December 31, 2015 and 2014 and cash flows for the six months ended December 31, 2015 and 2014.. The results of operations for the six months ended December 31, 2015, are not necessarily indicative of the results to be expected for future quarters or the full year.

b)

Principal of Consolidation

The consolidated financial statements include the accounts of Ami James Brands, Inc. and its 100% owned subsidiary, Chiswick Holdings Limited, a company incorporated in Kenya. All significant intercompany balances and transactions have been eliminated upon consolidation.

c)

Use of Estimates

The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to income taxes. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

d)

Cash and Cash Equivalents

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.

e)

Financial Instruments

The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, related party payables and loans payable. The fair value of the Company’s cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The carrying value of accounts payable and accrued liabilities, related party payables and loans payable approximates their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.

f)

Earnings (Loss) Per Share

Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect   to all dilutive potential common shares outstanding during the period Diluted EPS excludes all dilutive potential shares if their effect is anti dilutive. At December 31, 2015, the Company has no potentially dilutive securities outstanding and accordingly, basic loss and diluted loss per share are the same.

g)

Foreign Currency Translation

The Company’s has had limited operations in the eastern African markets of Kenya, Uganda and Tanzania, which results in exposure to market risks from changes in foreign currency exchange rates. The financial    risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk. The Company's functional currency for all operations worldwide is the U.S. dollar. Nonmonetary assets and liabilities are translated into their U.S. dollar equivalents at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the year. Revenues and expenses are translated at average rates for the year. Gains and losses from translation of foreign currency financial statements into U.S. dollars are included in current results of operations.

h)

Income Taxes

The Company accounts for income taxes using the asset and liability method which provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

i)

Recent Accounting Pronouncements

Jumpstart Our Business Startups Act (“JOBS Act”) Transition Accounting: pursuant to Section 107(b) of the JOBS Act, we have elected to use the extended transition period for complying with new or revised accounting standards for an “emerging growth company”. This election will permit us to delay the adoption of new or revised accounting standards that will have difference effective dates for public and private companies until such time as those standards apply to private companies. Consequently, our financial statements may not be comparable to companies that comply with public company effective dates.

The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Related Party Transactions

6 Months Ended

Dec. 31, 2015

Related Party Transactions

Related Party Transactions

3.

Related Party Transactions

a)

As of December 31, 2015, the Company owes a former director of the Company $47,491 (June 30, 2015 - $47,489) for administrative expenditures paid on behalf of the Company. The amount owed is unsecured, non-interest bearing, and has no specified repayment terms.

b)

As of December 31, 2015, the Company owes a former director of the Company $8,661 (June 30, 2015 - $8,661) for administrative expenditures paid on behalf of the Company and $96,000 (June 30, 2015 - $96,000) for consulting services. The amount owed is unsecured, non-interest bearing, and has no specified repayment terms.

c)

On July 2, 2015, the Company entered into a Trademark License Agreement with Ami James Ink, LLC, a California limited liability company. The Company’s sole officer and director, Ami James, is a shareholder and director of Ami James Ink, LLC.

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Loans Payable

6 Months Ended

Dec. 31, 2015

Loans Payable {1}

Loans Payable

4.

Loans Payable

On August 1, 2013, the Company entered into a loan agreement in which the note holder agreed to provide a loan to the Company in the principal amount of up to $75,000. The loan is unsecured, bears interest at 8% per annum and is due on demand. As at December 31, 2015, the note holder has provided $68,945 (June 30, 2015 - $68,945) to the Company pursuant to the loan agreement. As at December 31, 2015, the Company recorded $7,603 (June 30, 2015 - $4,845) of interest payable.

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Stockholders' Equity

6 Months Ended

Dec. 31, 2015

Stockholders' Equity

Stockholders' Equity

5.

Stockholders’ Equity

The Company’s authorized capital consists of 100,000,000 shares of common stock with a par value of $0.00001 per share and 100,000,000 shares of preferred stock with a par value of $0.00001 per share.

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Commitment

6 Months Ended

Dec. 31, 2015

Commitment

Commitment

6.

Commitment

On July 2, 2015, the Company entered into a Trademark License Agreement (the “License Agreement”) with Ami James Ink, LLC (the “Licensor,” or “AJI”), a California limited liability company. The Company’s sole officer and director, Ami James, is a shareholder and director of AJI (the “AJI Shareholder”). Pursuant to the License Agreement, the Company acquired the exclusive worldwide rights, for a period of 10 years, to various trademarks, which the Company intends to utilize for the manufacture, distribution, sales and marketing of certain Ami James branded products within the apparel industry. As consideration for the exclusive license granted under the License Agreement, the Company shall pay a royalty to AJI of ten percent (10%) of all net sales of licensed products. Additionally, AJI may, at its sole discretion, convert payments due AJI pursuant to the License Agreement into shares of common stock at a twenty percent (20%) discount.

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Convertible Debts

6 Months Ended

Dec. 31, 2015

Convertible Debts:

Convertible Debts

7.

Convertible Debts

On July 28, 2015, the Company entered into a $20,000 Convertible Promissory Note with a non-related third party. The Convertible Promissory Not bears interest at 10% and all principal and interest matures on July 28, 2016. The third party shall have the right to convert any unpaid sums into common stock of the Company at the rate of the lesser of the closing price of the Company’s common stock on the trading day prior to closing or 50% of the lowest trade reported in the 30 days prior to date of conversion, subject to adjustment as described in the note. On December 31, 2015, the conversion rate was adjusted to of the lesser of the closing price of the Company’s common stock on the trading day prior to closing or 35% of the lowest trade reported in the 30 days prior to date of conversion. On July 28, 2015, the Company received $17,500 as proceeds from the $20,000 convertible note net of an original issuance discount of $2,500. As at December 31, 2015, the Company has recorded interest of $873.

The embedded conversion option qualifies for derivative accounting and bifurcation under ASC 815-15 Derivatives and Hedging. The initial fair value of the conversion feature of $25,959 resulted in a discount to the note payable of $17,500 and the remaining $8,459 was recognized as a gain on derivative. During the six months ended December 31, 2015, the Company recorded accretion of $6,100 and at December 31, 2015, the carrying value of the note is $6,100.

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Derivative Liabilities

6 Months Ended

Dec. 31, 2015

Derivative Liabilities

Derivative Liabilities

8.

Derivative Liabilities

The embedded conversion option of the Company’s convertible debenture described in Note 7 contain a conversion feature that qualifies for embedded derivative classification. The fair value of these liabilities will be re-measured at the end of every reporting period and the change in fair value will be reported in the statement of operations as a gain or loss on derivative liabilities.

The table below sets forth a summary of changes in the fair value of the Company’s Level 3 financial liabilities:

		For the Six Months Ended December 31, 2015
Balance at the beginning of period	$	–
Fair value of new derivative liabilities (embedded conversion option)		25,959
Change in fair value of derivative		14,576
Balance at end of period	$	40,535

The Company uses Level 3 inputs for its valuation methodology for the embedded conversion option liabilities as their fair values were determined by using the Black-Scholes option pricing model based on various assumptions. The model incorporates the price of a share of the Company’s common stock (as quoted on the Over the Counter Bulletin Board), volatility, risk free rate, dividend rate and estimated life. Significant changes in any of these inputs in isolation would result in a significant change in the fair value measurement. As required, these are classified based on the lowest level of input that is significant to the fair value measurement. The following table shows the assumptions used in the calculations:

	Expected Volatility	Risk-Free Interest Rate	Expected Dividend Yield	Expected Life (in years)
At Issuance	126.47%	0.32%	0%	1.00
At December 31, 2015	150.03%	0.49%	0%	0.58

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Subsequent Events

6 Months Ended

Dec. 31, 2015

Subsequent Events

Subsequent Events

9.

Subsequent Events

Management has reviewed and evaluated subsequent events through the date of which the current financial statements were issued.

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Significant Policies (Policies)

6 Months Ended

Dec. 31, 2015

Significant Policies (Policies):

Basis of Presentation, Policy

a)

Basis of Presentation

The unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Securities and Exchange Commission (“SEC”) Form 10-Q. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Therefore, these unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended June 30, 2015, included in the Company’s Annual Report on Form 10- K/A filed on October 15, 2015, with the SEC.

The consolidated financial statements included herein are unaudited; however, they contain all normal recurring accruals and adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position at December 31, 2015 the results of its operations for the three months and six months ended December 31, 2015 and 2014 and cash flows for the six months ended December 31, 2015 and 2014.. The results of operations for the six months ended December 31, 2015, are not necessarily indicative of the results to be expected for future quarters or the full year.

Principal of Consolidation, Policy

b)

Principal of Consolidation

The consolidated financial statements include the accounts of Ami James Brands, Inc. and its 100% owned subsidiary, Chiswick Holdings Limited, a company incorporated in Kenya. All significant intercompany balances and transactions have been eliminated upon consolidation.

Use of Estimates, Policy

c)

Use of Estimates

The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to income taxes. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.

Cash and Cash Equivalents, Policy

d)

Cash and Cash Equivalents

The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents.

Financial Instruments, Policy

e)

Financial Instruments

The Company’s financial instruments consist principally of cash, accounts payable and accrued liabilities, related party payables and loans payable. The fair value of the Company’s cash equivalents is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The carrying value of accounts payable and accrued liabilities, related party payables and loans payable approximates their fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.

Earnings (Loss) Per Share, Policy

f)

Earnings (Loss) Per Share

Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect   to all dilutive potential common shares outstanding during the period Diluted EPS excludes all dilutive potential shares if their effect is anti dilutive. At December 31, 2015, the Company has no potentially dilutive securities outstanding and accordingly, basic loss and diluted loss per share are the same.

Foreign Currency Translation, Policy

g)

Foreign Currency Translation

The Company’s has had limited operations in the eastern African markets of Kenya, Uganda and Tanzania, which results in exposure to market risks from changes in foreign currency exchange rates. The financial    risk is the risk to the Company’s operations that arise from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk. The Company's functional currency for all operations worldwide is the U.S. dollar. Nonmonetary assets and liabilities are translated into their U.S. dollar equivalents at historical rates and monetary assets and liabilities are translated at exchange rates in effect at the end of the year. Revenues and expenses are translated at average rates for the year. Gains and losses from translation of foreign currency financial statements into U.S. dollars are included in current results of operations.

Income Taxes, Policy

h)

Income Taxes

The Company accounts for income taxes using the asset and liability method which provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

Recent Accounting Pronouncements, Policy

i)

Recent Accounting Pronouncements

Jumpstart Our Business Startups Act (“JOBS Act”) Transition Accounting: pursuant to Section 107(b) of the JOBS Act, we have elected to use the extended transition period for complying with new or revised accounting standards for an “emerging growth company”. This election will permit us to delay the adoption of new or revised accounting standards that will have difference effective dates for public and private companies until such time as those standards apply to private companies. Consequently, our financial statements may not be comparable to companies that comply with public company effective dates.

The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Derivative Liabilities (Tables)

6 Months Ended

Dec. 31, 2015

Derivative Liabilities (Tables):

Summary Of Changes In Fair Value (Tables)

The table below sets forth a summary of changes in the fair value of the Company’s Level 3 financial liabilities:

		For the Six Months Ended December 31, 2015
Balance at the beginning of period	$	–
Fair value of new derivative liabilities (embedded conversion option)		25,959
Change in fair value of derivative		14,576
Balance at end of period	$	40,535

Fair Values By Using Black-Scholes Option Pricing Model Based On Assumptions (Tables)

As required, these are classified based on the lowest level of input that is significant to the fair value measurement. The following table shows the assumptions used in the calculations:

	Expected Volatility	Risk-Free Interest Rate	Expected Dividend Yield	Expected Life (in years)
At Issuance	126.47%	0.32%	0%	1.00
At December 31, 2015	150.03%	0.49%	0%	0.58

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Nature of Business and Continuance of Operations (Details)	Dec. 31, 2015 USD ($)
Organization Details
Accumulated losses totaling	$ 359,795

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Principal of Consolidation (Details)	6 Months Ended
	Dec. 31, 2015
Principal of Consolidation Details
Owned subsidiary, Chiswick Holdings Limited	100.00%

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Related Party Transactions (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Related Party Transactions Details
Amount owed to a former director for administrative expenditure	$ 47,491	$ 47,489
Amount owed to a former director for administrative expenditures	8,661	8,661
Amount owed to a former director for consulting services	$ 96,000	$ 96,000

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Loans Payable (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015	Aug. 01, 2013
Loans Payable Details
Principal amount of the loan			$ 75,000
Interest rate on the loan			8.00%
Amount provided by the note holder pursuant to the agreement	$ 68,945	$ 68,945
Interest payable recorded	$ 7,603	$ 4,845

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Capital transactions (Details)	Dec. 31, 2015 $ / shares shares
Capital transactions Details
Authorized capital consists of shares of common stock | shares	100,000,000
Par value of per share of common stock | $ / shares	$ 0.00001
Authorized capital consists of shares of preferred stock | shares	100,000,000
Par value of per share of preferred stock | $ / shares	$ 0.00001

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Trademark License Agreement (Details)	Jul. 02, 2015
Trademark License Agreement Details
Company shall pay a royalty to AJI of all net sales of licensed products	10.00%
AJI may convert payments due to AJI into shares of common stock at a discount.	20.00%

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Convertible Debts (Details) - USD ($)	Dec. 31, 2015	Jul. 28, 2015
Convertible Debts Details
Convertible promissory note, value		$ 20,000
Convertible promissory note, interest rate		10.00%
Amount of $20,000 convertible note net received as proceeds		$ 17,500
Original issue discount		$ 2,500
Interest amount recorded	$ 873
Initial fair value of conversion feature	25,959
Discount to the note payable	17,500
Gain on derivative	8,459
Carrying value of the note	$ 6,100

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Accretion (Details)	6 Months Ended
	Dec. 31, 2015 USD ($)
Accretion Details
Accretion recorded	$ 6,100

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Summary of Changes in the fair value of the Company's Level 3 financial liabilities (Details)	6 Months Ended
	Dec. 31, 2015 USD ($)
Summary of Changes in the fair value of the Company's Level 3 financial liabilities:
Balance at the beginning of period	$ 0
Fair value of new derivative liabilities (embedded conversion option)	25,959
Change in fair value of derivative	14,576
Balance at end of period	$ 40,535

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Fair Values By Using Black-Scholes Option Pricing Model (Details)	6 Months Ended
	Dec. 31, 2015
At Issuance:
Expected Volatility	126.47%
Risk-Free Interest Rate	0.32%
Expected Dividend Yield	0.00%
Expected Life (in years)	1.00
At December 31, 2015:
Expected Volatility	150.03%
Risk-Free Interest Rate	0.49%
Expected Dividend Yield	0.00%
Expected Life (in years)	0.58