DISCONTINUED OPERATIONS

9 Months Ended

Mar. 31, 2022

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 12 – 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 nine months ended March 31, 2021, and consist of the following:

	For the Three Months Ended March 31, 2021			For the Nine Months Ended March 31, 2021
Revenue	$	42,124		$	381,472
Cost of revenue		25,575			269,638
Gross Margin		16,549			111,834
Operating Expenses:
Payroll expense		2,171			32,676
General & administrative expenses		1,884			37,882
Total operating expenses		4,055			70,558
Income from operations		12,494			41,276
Total other income (expense)		(3,781	)		(15,854	)
Net income	$	8,713		$	25,422