Capital Stock and Equity Transactions

9 Months Ended

Mar. 31, 2017

Capital Stock and Equity Transactions [Abstract]

Capital Stock and Equity Transactions

Note 3 — Capital Stock and Equity Transactions

The Company has 150,000,000 and 75,000,000 shares of common stock authorized with a par value of $ 0.001 per share as of March 31, 2017 and June 30, 2016.  In addition, the Company has 10,000,000 and 0 blank check preferred stock authorized with a par value of $0.001 per share as of March 31, 2017 and June 30, 2016.

On June 8, 2015, the Company issued 5,000,000 shares at $0.001 per share for total proceeds of $5,000 to the company’s founder. In January and February 2016, the Company issued 1,280,000 shares at $0.02 per share for total proceeds of $25,600. As of June 30, 2016, the Company had 6,280,000 pre-split shares issued and outstanding, or 58,090,000 shares when adjusted for the stock split on March 24, 2017.

In accordance with the Merger Agreement, the Company issued an additional 2,351,355 new, pre-split shares of common stock to the 6,280,000 shares that were already outstanding. The Company also issued 324,327 new, pre-split shares of Series A Preferred Stock.  In addition, the Company accepted subscriptions in a private placement offering of 476,092 new pre-split shares of the Company’s common stock in the amount of $600,000 as well as 27,027 new pre-split shares of the Company’s Series B Convertible Preferred Stock in the amount of $250,000.  In addition, 5,000,000 pre-split shares of common stock were retired in accordance with the Merger Agreement.

On March 24, 2017, the Company effected aforward split such that 9.25 shares of Common Stock were issued for every 1 share of Common Stock issued and outstanding immediately prior to the forward split.  Immediately following the forward split, there were 38,000,000 shares of post-split common stock, 3,000,000 shares of post-split Series A Preferred Stock, and 250,000 shares of post-split Series B Convertible Preferred Stock outstanding.  The par value of all classes of shares remained at $0.001 per share after the forward split.