DISCONTINUED OPERATIONS

6 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 11 – DISCONTINUED OPERATIONS

On January 21, 2021, Shefali Vibhakar, President of the Company closed a Share Purchase Agreement (the “Agreement”) that she entered into with Johnny Forzani to sell all of her 17,000,000 common shares and 10,000,000 preferred shares to Johnny Forzani for cash consideration of $177,000.

Further, as part of the Agreement, Ms. Vibhakar agrees to spin out all of the Company’s assets (except for certain machinery valued at $40,000 – which is subject to a separate purchase agreement) as well as all of the Company’s liabilities (except the Company’s note with Tangiers Capital, LLC and Twiga Capital). The value date of the assets and liabilities will be January 21, 2021.

In accordance with the provisions of ASC 205-20, Presentation of Financial Statements, we have separately reported the assets and liabilities of the discontinued operations in the consolidated balance sheets. The income and expenses have been reflected as discontinued operations in the consolidated Statements of Operations for the three and six months ended December 31, 2020, and consist of the following:

	For the Three Months Ended December 31, 2020		For the Six Months Ended December 31, 2020
Revenue	$	160,292	$	339,348
Cost of revenue		130,303		244,063
Gross Margin		29,989		95,285
Operating Expenses:
Payroll expense		15,437		30,505
General & administrative expenses		12,184		28,519
Total operating expenses		27,621		59,024
Income from operations		2,368		36,261
Total other income (expense)		3,210		(8,993	)
Net income	$	5,578	$	27,268