Cover
Cover - shares | 6 Months Ended | |
Dec. 31, 2020 | May 05, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2020 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --06-30 | |
Entity File Number | 333-197692 | |
Entity Registrant Name | Star Alliance International Corp. | |
Entity Central Index Key | 0001614556 | |
Entity Incorporation, State or Country Code | NV | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 111,493,334 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Dec. 31, 2020 | Jun. 30, 2020 |
Current assets: | ||
Cash | $ 2,097 | $ 20,058 |
Total current assets | 2,097 | 20,058 |
Other assets: | ||
Property and equipment | 450,000 | 450,000 |
Mining claims | 57,532 | 57,532 |
Total other assets | 507,532 | 507,532 |
Total Assets | 509,629 | 527,590 |
Current liabilities: | ||
Accounts payable | 24,934 | 40,630 |
Accrued expenses | 10,124 | 8,658 |
Accrued compensation | 135,676 | 144,360 |
Note payable | 414,400 | 435,700 |
Note payable - former related party | 32,000 | 32,000 |
Related party advance | 7,878 | 2,576 |
Due to former related party | 42,651 | 42,651 |
Total current liabilities | 667,663 | 706,575 |
Total liabilities | 667,663 | 706,575 |
COMMITMENTS AND CONTINGENCIES | ||
Stockholders' deficit: | ||
Preferred stock | 2,883 | 1,883 |
Common stock, $0.001 par value, 175,000,000 shares authorized, 113,299,584 and 107,313,334 shares issued and outstanding, respectively | 113,300 | 107,314 |
Additional paid-in capital | 2,643,629 | 2,382,859 |
Common stock to be issued | 6,633 | 8,633 |
Stock subscription receivable | 0 | (9,900) |
Accumulated deficit | (2,924,479) | (2,669,774) |
Total stockholders' deficit | (158,034) | (178,985) |
Total liabilities and stockholders' deficit | 509,629 | 527,590 |
Series A Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Preferred stock | 1,000 | 0 |
Series B Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Preferred stock | $ 1,883 | $ 1,883 |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Dec. 31, 2020 | Jun. 30, 2020 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 21,100,000 | 21,100,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 175,000,000 | 175,000,000 |
Common stock, shares issued | 113,299,584 | 107,313,334 |
Common stock, shares outstanding | 113,299,584 | 107,313,334 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $ .001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 1,000,000 | 0 |
Preferred stock, shares outstanding | 1,000,000 | 0 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,900,000 | 1,900,000 |
Preferred stock, shares issued | 1,883,000 | 1,883,000 |
Preferred stock, shares outstanding | 1,883,000 | 1,883,000 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating expenses: | ||||
General and administrative | $ 13,906 | $ 38,932 | $ 42,799 | $ 56,376 |
General and administrative - related party | 1,000 | 0 | 4,000 | 0 |
Consulting | 5,000 | 0 | 33,350 | 0 |
Professional fees | 2,500 | 10,000 | 28,190 | 17,500 |
Director compensation | 15,000 | 15,000 | 30,000 | 28,000 |
Officer compensation | 30,000 | 43,000 | 65,000 | 78,000 |
Total operating expenses | 67,406 | 106,932 | 203,339 | 179,876 |
Loss from operations | (67,406) | (106,932) | (203,339) | (179,876) |
Other expense: | ||||
Interest expense | (882) | (1,248) | (9,036) | (2,055) |
Loss on conversion of accrued salary | 0 | 0 | (46,200) | 0 |
Gain on forgiveness of debt | 0 | 0 | 3,870 | 0 |
Total other expense | (882) | (1,248) | (51,366) | (2,055) |
Loss before provision for income taxes | (68,288) | (108,180) | (254,705) | (181,931) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (68,288) | $ (108,180) | $ (254,705) | $ (181,931) |
Net loss per common share - basic and diluted | $ 0 | $ 0 | $ 0 | $ (0.01) |
Weighted average common shares outstanding - basic and diluted | 112,193,103 | 92,556,196 | 110,946,941 | 90,276,478 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Preferred Stock Series A | Preferred Stock Series B | Common Stock [Member] | Additional Paid-In Capital | Common Stock To Be Issued | Preferred Stock To Be Issued | Stock Subscription Receivable | Retained Earnings / Accumulated Deficit | Total |
Beginning balance, shares at Jun. 30, 2019 | 83,450,000 | ||||||||
Beginning balance, value at Jun. 30, 2019 | $ 83,450 | $ 551,289 | $ 7,000 | $ 0 | $ (775,454) | $ (133,715) | |||
Stock issued for services, shares | 1,500,000 | ||||||||
Stock issued for services, value | $ 1,500 | 1,500 | 80 | 3,080 | |||||
Stock issued for services - related party, shares | 4,000,000 | ||||||||
Stock issued for services - related party, value | $ 4,000 | 4,000 | 8,000 | ||||||
Stock issued for conversion of debt, shares | 250,000 | ||||||||
Stock issued for conversion of debt, value | $ 250 | 250 | |||||||
Stock sold for cash, shares | 1,000,000 | ||||||||
Stock sold for cash, value | $ 1,000 | 2,000 | 53,000 | $ 56,000 | |||||
Preferred stock issued for acquisition, shares | 7,532 | 7,532 | |||||||
Net loss | (73,751) | $ (73,751) | |||||||
Ending balance, shares at Sep. 30, 2019 | 90,200,000 | ||||||||
Ending balance, value at Sep. 30, 2019 | $ 90,200 | 558,789 | 60,080 | $ 7,532 | (849,205) | (132,604) | |||
Beginning balance, shares at Jun. 30, 2019 | 83,450,000 | ||||||||
Beginning balance, value at Jun. 30, 2019 | $ 83,450 | 551,289 | 7,000 | 0 | (775,454) | (133,715) | |||
Net loss | (181,931) | ||||||||
Ending balance, shares at Dec. 31, 2019 | 94,120,000 | ||||||||
Ending balance, value at Dec. 31, 2019 | $ 94,120 | 665,149 | 8,633 | 7,532 | (957,385) | (181,951) | |||
Beginning balance, shares at Sep. 30, 2019 | 90,200,000 | ||||||||
Beginning balance, value at Sep. 30, 2019 | $ 90,200 | 558,789 | 60,080 | 7,532 | (849,205) | (132,604) | |||
Stock issued for services, shares | 140,000 | ||||||||
Stock issued for services, value | $ 140 | 140 | (80) | 200 | |||||
Stock sold for cash, shares | 3,780,000 | ||||||||
Stock sold for cash, value | $ 3,780 | 106,220 | (51,367) | 58,633 | |||||
Net loss | (108,180) | (108,180) | |||||||
Ending balance, shares at Dec. 31, 2019 | 94,120,000 | ||||||||
Ending balance, value at Dec. 31, 2019 | $ 94,120 | 665,149 | 8,633 | $ 7,532 | (957,385) | (181,951) | |||
Beginning balance, shares at Jun. 30, 2020 | 0 | 1,833,000 | 107,313,334 | ||||||
Beginning balance, value at Jun. 30, 2020 | $ 0 | $ 1,883 | $ 107,314 | 2,382,859 | 8,633 | $ (9,900) | (2,669,774) | (178,985) | |
Stock issued for services, shares | 1,250,000 | ||||||||
Stock issued for services, value | $ 1,250 | 23,750 | 25,000 | ||||||
Stock issued for conversion of debt, shares | 1,375,000 | ||||||||
Stock issued for conversion of debt, value | $ 1,375 | 128,325 | 129,700 | ||||||
Stock sold for cash, shares | 1,555,000 | ||||||||
Stock sold for cash, value | $ 1,555 | 18,445 | (2,000) | 9,900 | 27,900 | ||||
Stock issued for compensation, shares | 1,000,000 | ||||||||
Stock issued for compensation, value | $ 1,000 | 67,556 | 68,556 | ||||||
Net loss | (186,417) | (186,417) | |||||||
Ending balance, shares at Sep. 30, 2020 | 1,000,000 | 1,833,000 | 111,493,334 | ||||||
Ending balance, value at Sep. 30, 2020 | $ 1,000 | $ 1,883 | $ 111,494 | 2,620,935 | 6,633 | 0 | (2,856,191) | (114,246) | |
Beginning balance, shares at Jun. 30, 2020 | 0 | 1,833,000 | 107,313,334 | ||||||
Beginning balance, value at Jun. 30, 2020 | $ 0 | $ 1,883 | $ 107,314 | 2,382,859 | 8,633 | (9,900) | (2,669,774) | (178,985) | |
Net loss | (254,705) | ||||||||
Ending balance, shares at Dec. 31, 2020 | 1,000,000 | 1,833,000 | 113,299,584 | ||||||
Ending balance, value at Dec. 31, 2020 | $ 1,000 | $ 1,883 | $ 113,300 | 2,643,629 | 6,633 | 0 | (2,924,479) | (158,034) | |
Beginning balance, shares at Sep. 30, 2020 | 1,000,000 | 1,833,000 | 111,493,334 | ||||||
Beginning balance, value at Sep. 30, 2020 | $ 1,000 | $ 1,883 | $ 111,494 | 2,620,935 | 6,633 | 0 | (2,856,191) | (114,246) | |
Stock sold for cash, shares | 1,806,250 | ||||||||
Stock sold for cash, value | $ 1,806 | 22,694 | 24,500 | ||||||
Net loss | (68,288) | (68,288) | |||||||
Ending balance, shares at Dec. 31, 2020 | 1,000,000 | 1,833,000 | 113,299,584 | ||||||
Ending balance, value at Dec. 31, 2020 | $ 1,000 | $ 1,883 | $ 113,300 | $ 2,643,629 | $ 6,633 | $ 0 | $ (2,924,479) | $ (158,034) |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (254,705) | $ (181,931) |
Changes in assets and liabilities: | ||
Common stock issued for services | 25,000 | 11,280 |
Gain on forgiveness of debt | (3,870) | 0 |
Loss on conversion of debt | 46,200 | 0 |
Accounts payable | (15,696) | (5,893) |
Accrued expenses | 4,036 | 2,055 |
Accrued compensation | 69,772 | 97,000 |
Net cash used in operating activities | (129,263) | (77,489) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Net cash provided by / (used in) investing activities | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds of borrowings from a related party | 23,582 | 35,735 |
Repayments to a related party | (18,280) | (36,035) |
Proceeds from the sale of common stock | 42,500 | 114,633 |
Proceeds from note payable | 121,500 | 55,500 |
Payment on note payable | (58,000) | (87,000) |
Net cash provided by financing activities | 111,302 | 82,833 |
Net (decrease) increase in cash | (17,961) | 5,344 |
Cash at the beginning of period | 20,058 | 471 |
Cash at the end of period | 2,097 | 5,815 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | 0 | 0 |
NON-CASH TRANSACTIONS: | ||
Principal and interest converted to common stock | $ 83,500 | $ 0 |
1. Nature of Business
1. Nature of Business | 6 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | NOTE 1 – NATURE OF BUSINESS Star Alliance International Corp. (“the Company”, “we”, “us”) was originally incorporated with the name Asteriko Corp. in the State of Nevada on April 17, 2014 under the laws of the State of Nevada, for the purpose of acquiring and developing gold mines as well as certain other mining properties worldwide. |
2. Significant Accounting Polic
2. Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission ("SEC"), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company's latest Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year, as reported in the Form 10-K for the fiscal year ended June 30, 2020, have been omitted. Use of Estimates The preparation of the unaudited financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of liabilities, and the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting periods. Management makes these estimates using the best information available at the time; however, actual results could differ materially from those estimates. |
3. Going Concern
3. Going Concern | 6 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 3 – GOING CONCERN The accompanying unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As shown in the accompanying unaudited financial statements, the Company has an accumulated deficit of $2,924,479 and negative working capital of $665,566 as of December 31, 2020. For the six months ended December 31, 2020 the Company had a net loss of $254,705, with $129,263 of cash used in operating activities. Due to these conditions, it raises substantial doubt about the Company’s ability to continue as a going concern. The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern. |
4. Acquisition
4. Acquisition | 6 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Acquisition | NOTE 4 – ACQUISITION On August 13, 2019, The Company closed an Asset Purchase Agreement (the “APA”) with Troy Mining Corporation (“Troy”). Under the APA, the company acquired 78 gold mining claims consisting of approximately 4,800 acres, located east/southeast of El Portal, California, in Mariposa County, together with all of Troy’s rights to related equipment and buildings currently located on the mining claims. In exchange for the mining claims and related assets, the company Under the Purchase Note, we paid $50,000 at the time of the closing, and are required to pay an additional $50,000 within sixty days of the closing, and $25,000 every other month thereafter, with the entire remaining amount due no later than March 31, 2020. In the event of default under the Purchase Note, all assets acquired under the APA will be forfeited back to Troy. We are current on all the terms of the agreement. On October 9, 2019, a contract extension was agreed between Star Alliance International Corporation and Troy Mining Corporation. The agreement gives the Company 150 days to file an S-1 registration statement and obtain approval for the shares that are to be issued to the Troy shareholders to become free trading. The S1 registration was filed on August 14, 2020. On July 14, 2020 a contract extension was agreed between Star Alliance International Corporation and Troy Mining Corporation. The agreement provides for a sixty-day extension on the loan agreement with Troy mining Corporation and also an extension to file the S1 registration. As of December 31, 2020, the balance on this note is $345,000. |
5. Related Party Transactions
5. Related Party Transactions | 6 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5 – RELATED PARTY TRANSACTIONS As of December 31, 2020 and June 30, 2020, the Company owes Anthony Anish, a board member, $418 and $1,976 for expense reimbursement. On August 1, 2019, employment agreements for Richard Carey, John Baird and Anthony Anish were signed providing for annual salaries of $120,000 per annum for Richard Carey and $60,000 for John Baird and Anthony Anish. As of December 31, 2020, the Company has accrued compensation due to Mr. Carey of $21,600, Mr. Baird of $60,000 and Mr. Anish of $54,076. As of June 30, 2020, the Company has accrued compensation due to Mr. Carey of $46,360, Mr. Baird of $55,000 and Mr. Anish of $43,000. Mr. Baird resigned his position on August 12, 2020. Mr. Carey is using his personal office space at no cost to the Company. As of December 31, 2020, the Company owes NewMarket Financial Services, Inc. $6,035, for reimbursement for payment of company expenses. The advance is non-interest bearing and due on demand. NewMarket Financial Services, Inc. is owned by Mr. Anish. |
6. Note Payable
6. Note Payable | 6 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Note Payable | NOTE 6 – NOTES PAYABLE As of December 31, 2020 and June 30, 2020, the Company owed Kok Chee Lee, the former CEO and Director of the Company, $42,651 and $42,651, respectively for operating expenses he paid on behalf of the Company during the year ended June 30, 2018. The borrowing is unsecured, non-interest-bearing and due on demand. On June 1, 2018, the Company executed a promissory note in the amount of $32,000 with the former Secretary of the Board for $30,128 of accrued expenses for services previously provided and an additional $1,872 for services rendered. The note is unsecured, bears interest at 5% per annum and matures on December 1, 2018. As of December 31, 2020 and June 30, 2020, there is $4,142 and $1,732, respectively, of accrued interest due on the note. The note is past due and in default. On October 15, 2018, the Company executed a promissory note for $20,000, for amounts previously accrued and payable to the Company’s former attorney. The note bears interest at 8% and was due on October 15, 2019. As of June 30, 2020, there is $0 and $0 and $20,000 and $1,131, of principal and accrued interest due on the note. On June 11, 2019, the company executed a promissory note with Troy for $500,000 (Note 7). The Company paid the initial $50,000 due on the note on August 13, 2019 and $35,000 as of December 31, 2019. As December 31, 2020 there is $345,000 due on this note. On June 26, 2020, an individual loaned the Company $25,000, $6,000 of which was converted into 600,000 shares of common stock on July 27, 2020. As of December 31, 2020, there is $19,000 and $1,030 of principal and interest due on this loan, respectively. |
7. Preferred Stock
7. Preferred Stock | 6 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Preferred Stock | NOTE 7 – PREFERRED STOCK Of the 25,000,000 shares of the Company's authorized Preferred Stock, $0.001 par value per share, 1,000,000 are designated Series A preferred stock and 1,900,000 shares are designated as Series B Preferred Stock. Series A Preferred Stock Each Share of Series A preferred stock shall have 500 votes per share and each share can be converted into 500 shares of common stock. The holders of the Series A preferred stock are not entitled to dividends. On July 2, 2020, the Board granted all 1,000,000 shares of the Series A preferred stock to the Company’s Chairman and CEO, Richard Carey, in conversion of $68,556 of accrued compensation. Series B Preferred Stock Only one person or entity, is entitled to be designated as the owner of all of the Series B Preferred Stock (the “Holder”), in whose name the initial certificates representing the Series B Preferred Stock shall be issued. Any transfer of the Series B Preferred Stock to a different Holder must be approved in advance by the Corporation; provided, however, the Holder shall have the right to transfer the Series B Preferred Stock, or any portion thereof, to any affiliate of Holder or nominee of Holder, without the approval of the Corporation. Each share of Preferred Stock shall have one vote per share. Holder is not entitled to dividends or distributions and each share of Series B Preferred Stock shall be convertible at the rate of two Common Shares for each one B Preferred stock. In conjunction with the APA with Troy, the company issued 1,833,000 shares of Series B Preferred Stock, the shares were valued at $0.002 or $7,532 as if they had been converted into 3,666,000 shares of common stock. On October 9, 2019, the parties have agreed to extend the date for filing the registration statement relating to the preferred shares of the Company to be issued to the Troy shareholders and that would in turn extend the date that the shares would become free trading. This extension will be for 150 days for filing the registration statement and obtaining approval for the shares to become free trading. All the remaining terms included in the contract will remain the same. |
8. Common Stock
8. Common Stock | 6 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Common Stock | NOTE 8 – COMMON STOCK During the six months ended December 31, 2020, the Company granted 1,250,000 shares of common stock for services. The shares were valued at $0.02 per share for total non-cash expense of $25,000. During the six months ended December 31, 2020, the Company issued 1,375,000 shares of common stock in conversion of a $83,500 of principal. The Company recognized a $46,200 loss on the conversion. During the six months ended December 31, 2020, the Company sold 3,361,000 shares of common stock for total cash proceeds of $42,500. |
9. Subsequent Event
9. Subsequent Event | 6 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Event | NOTE 9 – SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were available to be issued and has determined that the following material events have occurred. On January 1, 2021 the employment agreements for Richard Carey and Anthony Anish were updated to include salaries of $180,000 and $120,000 per annum respectively. All other terms of the new agreements remained the same as previously. Subsequent to December 31, 2020, the Company sold 9,100,000 shares of common stock for total cash proceeds of $136,000. On April 22, 2021, the company withdrew its S1 registration. The Board of the Company felt that the Company needed to complete a new NI 43-101 appraisal of the gold reserves to be able to answer the SEC comments completely and as this appraisal was previously planned for, it was felt that it would make sense to refile after that valuation is completed. On February 16, 2021 a contract extension for ninety (90) days was signed between Troy Mining Corporation and Star Alliance International Corporation. A payment of $40,000 was made by Star Alliance that reduces the final amount due to Troy Mining Corporation to $305,000. |
2. Significant And Critical Acc
2. Significant And Critical Accounting Policies and Practices (Policies) | 6 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission ("SEC"), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company's latest Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year, as reported in the Form 10-K for the fiscal year ended June 30, 2020, have been omitted. |
Use of Estimates | Use of Estimates The preparation of the unaudited financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of liabilities, and the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting periods. Management makes these estimates using the best information available at the time; however, actual results could differ materially from those estimates. |
3. Going Concern (Details Narra
3. Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||
Accumulated deficit | $ (2,924,479) | $ (2,924,479) | $ (2,669,774) | ||||
Working capital | (665,566) | (665,566) | |||||
Net loss | $ (68,288) | $ (186,417) | $ (108,180) | $ (73,751) | (254,705) | $ (181,931) | |
Net cash used in operating activities | $ (129,263) | $ (77,489) |
4. Acquisition (Details Narrati
4. Acquisition (Details Narrative) | 1 Months Ended | 3 Months Ended | |
Aug. 13, 2019USD ($)shares | Sep. 30, 2019shares | Dec. 31, 2020USD ($)Integer | |
Stock issued for acquisition, shares | shares | 7,532 | ||
Asset Purchase Agreement [Member] | |||
Payment for acquisition | $ 50,000 | ||
Asset Purchase Agreement [Member] | Series B Preferred Stock [Member] | |||
Stock issued for acquisition, shares | shares | 1,833,000 | ||
Troy [Member] | |||
Number of mining claims | Integer | 78 | ||
Acreage of mining claims | Integer | 4,800 | ||
Note payable issued | $ 500,000 | ||
Note Payable | $ 345,000 |
5. Related Party Transactions (
5. Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | |
Stock owned | 113,299,584 | 113,299,584 | 107,313,334 | ||||
Proceeds from related party | $ 23,582 | $ 35,735 | |||||
Repayment to related party | 18,280 | 36,035 | |||||
Stock issued for services, value | $ 25,000 | $ 200 | $ 3,080 | ||||
Loss on conversion of accrued salary | $ 0 | $ 0 | (46,200) | $ 0 | |||
Anthony Anish [Member] | |||||||
Due to related party | 418 | 418 | $ 1,976 | ||||
Accrued compensation | 54,076 | 54,076 | 43,000 | ||||
Richard Carey [Member] | |||||||
Accrued compensation | 21,600 | 21,600 | 46,360 | ||||
John Baird [Member] | |||||||
Accrued compensation | 60,000 | 60,000 | $ 55,000 | ||||
NewMarket Financial [Member] | |||||||
Due to related party | $ 6,035 | $ 6,035 |
6. Note Payable (Details Narrat
6. Note Payable (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 11 Months Ended | 12 Months Ended | 13 Months Ended | |||
Aug. 13, 2019 | Oct. 15, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Jun. 01, 2018 | Jun. 30, 2020 | Jun. 26, 2020 | Jul. 27, 2020 | Jun. 11, 2019 | |
Proceeds from note payable | $ 121,500 | $ 55,500 | |||||||
Increase/decrease in notes payable | 106,500 | ||||||||
Kok Chee Lee [Member] | |||||||||
Note payable | 42,651 | $ 42,651 | |||||||
Former Secretary of the Board [Member] | |||||||||
Debt face amount | $ 32,000 | ||||||||
Debt stated interest rate | 5.00% | ||||||||
Debt maturity date | Dec. 1, 2018 | ||||||||
Accrued interest | 3,739 | 3,336 | |||||||
Note in default | 32,000 | 32,000 | |||||||
Former Attorney [Member] | |||||||||
Note payable | 0 | 20,000 | |||||||
Debt face amount | $ 20,000 | ||||||||
Debt stated interest rate | 8.00% | ||||||||
Debt maturity date | Oct. 15, 2019 | ||||||||
Accrued interest | 0 | $ 1,131 | |||||||
Troy [Member] | |||||||||
Note payable | 345,000 | ||||||||
Debt face amount | $ 500,000 | ||||||||
Debt maturity date | Aug. 13, 2019 | ||||||||
Repayment of debt | $ 50,000 | $ 35,000 | |||||||
An Individual [Member] | |||||||||
Note payable | 19,000 | ||||||||
Accrued interest | $ 1,030 | ||||||||
Proceeds from note payable | $ 25,000 | ||||||||
Debt converted, amount converted | $ 6,000 | ||||||||
Debt converted, shares issued | 600,000 |
7. Preferred Stock (Details Nar
7. Preferred Stock (Details Narrative) - USD ($) | Jul. 02, 2020 | Aug. 13, 2019 | Sep. 30, 2020 | Sep. 30, 2019 |
Stock issued for acquisition, shares | 7,532 | |||
Stock issued for compensation, value | $ 68,556 | |||
Series A Preferred Stock [Member] | Richard Carey [Member] | ||||
Stock issued for compensation, shares | 1,000,000 | |||
Stock issued for compensation, value | $ 68,556 | |||
Asset Purchase Agreement [Member] | Series B Preferred Stock [Member] | ||||
Stock issued for acquisition, shares | 1,833,000 | |||
Stock issued for acquisition, value | $ 7,532 |
8. Common Stock (Details Narrat
8. Common Stock (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stock issued for services, value | $ 25,000 | $ 200 | $ 3,080 | ||
Proceeds from sale of stock | $ 42,500 | $ 114,633 | |||
Debt Conversion [Member] | |||||
Debt converted, stock issued shares | 1,375,000 | ||||
Debt converted, amount converted | $ 83,500 | ||||
Loss on conversion of debt | $ (46,200) | ||||
Common Stock [Member] | |||||
Stock sold for cash, shares | 3,361,000 | ||||
Proceeds from sale of stock | $ 42,500 | ||||
Common Stock [Member] | Services [Member] | |||||
Stock issued for services, shares | 1,250,000 | ||||
Stock issued for services, value | $ 25,000 |