3 DISCONTINUED OPERATIONS

12 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

DISCONTINUED OPERATIONS

NOTE 3 – DISCOUNTINUED OPERATIONS

On September 8, 2017, Jean-Paul Chavanz, the previous sole officer and director and majority shareholder of Jasmin Corp., entered into a stock purchase agreement for the sale of an aggregate of 10,000,000 shares of Common Stock of the Company, representing 79% of the issued and outstanding shares of common stock of the Company. Pursuant to this agreement, the Company decided to discontinue its business plan of producing and distributing Cork products and explore new opportunities. As part of the transition all the Company’s assets were retained by the former majority shareholder and the liabilities were assumed by Mr. Chavanz as well. As a result of this strategic shift all historical results of the Company have been classified as discontinued operations in accordance with ASC 205-20. The total loss on transition of assets and liabilities during the year ended June 30, 2018 was $16,532 of which $5,906 was recorded as general and administrative expenses and $10,626 was recorded as a reduction to additional paid in capital

Results of discontinued operations for the years ended June 30, 2018 and 2017 are as follows:

	Year ended June 30, 2018			Year ended June 30, 2017
Revenues	$	-		$	27,335
Cost of Goods Sold		-			3,375
Gross Profit		-			23,960
General and Administrative Expenses		5,906			30,265
Loss before income taxes		(5,906	)		(30,265	)
Income tax expenses		-			-
LOSS FROM DISCONTINUED OPERATIONS	$	(5,906	)	$	(6,305	)

Cash Flow from discontinued operations for the years ended June 30, 2018 and 2017 is as follows;

	Year ended June 30, 2018			Year ended June 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss from operations	$	(5,906	)	$	(6,305	)
Adjustments to reconcile net loss to net cash (used in) operating activities:
Loss on discontinued operations		5,906			-
Depreciation expenses		-			936
CHANGES IN OPERATING ASSETS AND LIABILITIES
Decrease in prepaid expenses		-			(5,380	)
Increase in inventory		-			(4,771	)
Accounts payable		-			300
NET CASH (USED IN) PROVIDED BY DISCONTINUED OPERATING ACTIVITIES		-			(15,220	)
CASH FLOWS FROM INVESTING ACTIVITIES
Equipment		-			(10,486	)
NET CASH (USED IN) PROVIDED BY DISCONTINUED INVESTING ACTIVITIES		-			(10,486	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock		-			20,912
Loan – related party		(1,951	)		3,000
NET CASH (USED IN) PROVIDED BY DISCONTINUED FINANCING ACTIVITIES		(1,951			23,912
NET INCREASE (DECREASE) IN CASH FROM DISCONTINUED OPERATIONS	$	(1,951	)	$	(1,794	)