Cover
Cover | 6 Months Ended |
Dec. 31, 2023 shares | |
Cover [Abstract] | |
Document Type | 10-Q/A |
Amendment Flag | true |
Amendment Description | We have edited Note 5 in the financial statements. This amendment is made to ensure our financial disclosures accurately reflect the accounting treatment and valuation of the recent acquisition. |
Document Quarterly Report | true |
Document Transition Report | false |
Document Period End Date | Dec. 31, 2023 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2024 |
Current Fiscal Year End Date | --06-30 |
Entity File Number | 333-227194 |
Entity Registrant Name | United Express Inc. |
Entity Central Index Key | 0001751707 |
Entity Tax Identification Number | 82-1965608 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 4345 W. Post Rd |
Entity Address, City or Town | Las Vegas |
Entity Address, State or Province | NV |
Entity Address, Postal Zip Code | 89118 |
City Area Code | 949 |
Local Phone Number | 350-0123 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 29,372,951 |
BALANCE SHEET (Unaudited)
BALANCE SHEET (Unaudited) - USD ($) | Dec. 31, 2023 | Jun. 30, 2023 |
CURRENT ASSETS: | ||
Cash at Bank | $ 27,947 | $ 609 |
TOTAL CURRENT ASSETS | 27,947 | 609 |
NON-CURRENT ASSETS: | ||
Investment in Subsidiary – Fighting Leagues | 13,098,000 | 0 |
TOTAL NON-CURRENT ASSETS | 13,098,000 | 0 |
TOTAL ASSETS | 13,125,947 | 609 |
CURRENT LIABILITIES | ||
Other Payable | 1 | 1 |
Accounts Payable | 0 | |
TOTAL CURRENT LIABILITIES | 1 | 1 |
STOCKHOLDERS' EQUITY | ||
Common stock, $0.001 par value; 75,000,000 shares authorized 29,372,951 shares issued and outstanding at December 31, 2023 and 15,592,000 at June 30, 2023 respectively | 29,372 | 15,592 |
Additional paid in capital | 15,159,439 | 59,219 |
Net Profit (loss) accumulated during development stage | (2,062,865) | (74,203) |
TOTAL STOCKHOLDERS' EQUITY | 13,125,946 | 608 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 13,125,947 | $ 609 |
BALANCE SHEET (Unaudited) (Pare
BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares | Dec. 31, 2023 | Jun. 30, 2023 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock, Shares, Issued | 29,372,951 | 15,592,000 |
Common Stock, Shares, Outstanding | 29,372,951 | 15,592,000 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue: | ||||
Sales | $ 48,285 | $ 114,342 | $ 163,635 | $ 179,537 |
Total Revenues | 48,285 | 114,342 | 163,635 | 179,537 |
COST OF SALES | ||||
Cost of Goods | 17,100 | 101,500 | 17,100 | 160,425 |
TOTAL COST OF GOODS SOLD | 17,100 | 101,500 | 17,100 | 160,425 |
Gross Profit (Loss) | 31,185 | 12,842 | 146,535 | 19,112 |
Operating expenses: | ||||
Consultancy Fees | 2,114,000 | 0 | 2,114,000 | 0 |
Transportation, OTC Market fees | 2,255 | 7,620 | 8,255 | 7,620 |
General and administration expenses | 3,067 | 2,479 | 12,942 | 12,116 |
Total operating expenses | 2,119,322 | 10,099 | 2,135,197 | 19,736 |
Income (loss) before income taxes | (2,088,137) | 2,743 | (1,988,662) | (624) |
Income tax | 0 | 0 | 0 | 0 |
Net income (loss) | $ (2,088,137) | $ 2,743 | $ (1,988,662) | $ (624) |
Net income per basic and diluted shares$ | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of shares outstanding | 21,957,498 | 15,592,000 | 21,957,498 | 15,592,000 |
STATEMENTS OF STOCKHOLDERS' EQU
STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jun. 30, 2022 | $ 15,592 | $ 59,219 | $ (67,075) | $ 7,736 |
Net profit (loss) | (624) | (624) | ||
Ending balance, value at Dec. 31, 2022 | 15,592 | 59,219 | (67,699) | 7,112 |
Beginning balance, value at Jun. 30, 2023 | $ 15,592 | 59,219 | (74,203) | 608 |
Shares, Outstanding, Beginning Balance at Jun. 30, 2023 | 15,592,000 | |||
Net profit (loss) | (1,988,622) | (1,988,662) | ||
Shares of Common Stock Issued to three non “U.S persons” in an offshore transaction | $ 12,380 | 12,987,620 | 13,000,000 | |
Issuance for services pursuant to Advisory and Consultancy | 1,400 | 2,112,600 | 2,114,000 | |
Ending balance, value at Dec. 31, 2023 | $ 29,372 | $ 15,159,439 | $ (2,062,865) | $ 13,125,946 |
Shares, Outstanding, Ending Balance at Dec. 31, 2023 | 29,372,951 |
STATEMENTS OF STOCKHOLDERS' E_2
STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) | 6 Months Ended |
Dec. 31, 2023 shares | |
Statement of Stockholders' Equity [Abstract] | |
[custom:SharesOfCommonStockIssuedToThreeNonUSPersonsInOffshoreTransactionShares] | 12,380,951 |
[custom:IssuanceForServicesPursuantToAdvisoryAndConsultancyShare] | 1,400,000 |
STATEMENTS OF CASH FLOWWS (Unau
STATEMENTS OF CASH FLOWWS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities: | |||||
Net income (loss) | $ (2,088,137) | $ 1,988,662 | $ 2,743 | $ (1,988,662) | $ (624) |
Share Based Payments | 2,114,000 | ||||
Net cash (used in) provided by operating activities | 125,338 | (624) | |||
Cash flows from investing activities: | |||||
Acquisition of subsidiaries, net of cash acquired | (98,000) | ||||
Net cash used in investing activities | (98,000) | 0 | |||
Cash flows from financing activities: | |||||
Proceeds from sale of common stock | 0 | 0 | |||
Net cash provided by financing activities | 0 | 0 | |||
NET INCREASE (DECREASE) IN CASH | 27,338 | (624) | |||
CASH AND CASH EQ - BEGINNING OF PERIOD | 609 | 7,737 | |||
CASH AND CASH EQ - ENDING OF PERIOD | $ 27,947 | $ 27,947 | $ 7,113 | $ 27,947 | $ 7,113 |
Description of Business
Description of Business | 6 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | NOTE 1 — Description of Business We are an Emerging Growth Company with revenue generating operations. We were formed on June 23, 2017 and have six years of business experience. The United Express operates as a general company of transportation and logistics - to delivery merchandises and other items for companies and individuals across the United State. As such, it is difficult to determine the average customer of the Company as the business will have the freedom and the ability to effectively arrange for the transportation any type of merchandise. Management anticipates that the business will receive orders for service from companies seeking to move merchandise, as well as, people relocating to different areas of the target regional market areas. A primary concern for the Company is its ability to quickly respond to customer request, give affordable price for the services, and carry the full responsibility from pick up to drop off. Fluctuations in oil prices has caused the freight and logistic industries costs to be to increase during last 3 months. In the event of a significant increase the price of fuel, we will also reasonably increase prices (at a standardized rate of markup) to ensure the profitability of the business. We providing dispatch services for the other companies. In this field company doing search for transportation providers and connect them to cargo owners based upon delivery requirements, transportation routes, type of shipment, equipment requirements, cargo size, delivery time and price. 12,380,951 12,380,951 12,380,951 United Express generated $ 1,988,662 2,743 |
Significant Accounting Policies
Significant Accounting Policies and Recent Accounting Pronouncements | 6 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies and Recent Accounting Pronouncements | NOTE 2 — Significant Accounting Policies and Recent Accounting Pronouncements Basis of Presentation The Company uses the accrual basis of accounting and accounting principles. The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Financial Statements and related disclosures as of December 31,2023 (Unaudited) and December 31,2022 (Unaudited) pursuant to the rules and regulations of the United States Securities and Exchange Commission (`SEC"). The Company has adopted June 30 fiscal year end. Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Fair Value of Financial Instruments ASC 825, ‘Disclosures about Fair Value of Financial Instruments, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2023. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accrued liabilities and notes payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. Basic and Diluted Loss Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 ‘Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes al potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal. Revenue Recognition We base our judgment on guidance ASC 606. The Company considered recognizes its revenue on the accrual basis, which considers revenue to be earned when the services have been performed. We considered gross revenue as a principal. Our revenue includes payments from the costumers for the logistic business. We Estimating Gross Revenue as a Principal. We evaluate the nature of our promises under the contracts and use judgment to determine whether the contracts include services, which we would need to evaluate for a material right or a performance obligation with quantity of services to be delivered. ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) amends revenue recognition guidance within ASC 606 for these types of transactions. To determine the nature of its promise to the customer, the entity should: 1. Identify the specified goods or services to be provided to the customer, and 2. Assess whether it controls each specified good or service before that good or service is transferred to the customer. We are primarily responsible for fulfilling the promise to provide the specified service. We have the inventory risk before the specified service has been transferred to a customer, or after transfer of control to the customer (for example, if the customer has a right for cancel or return). Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) - Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity,” which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments. The new guidance removes the separation models for convertible debt with a cash conversion feature or a beneficial conversion feature. In addition, the new standard provides guidance on calculating the dilutive impact of convertible debt on earnings per share. The ASU clarifies that the average market price should be used to calculate the diluted earnings per share denominator when the exercise price or the number of shares that may be issued is variable. The ASU is effective for the Company on January 1, 2022, including interim periods, with early adoption permitted, although implementation has been delayed for smaller reporting companies for fiscal years beginning after December 15, 2023. The ASU permits the use of either a full or modified retrospective method of adoption. The Company is still evaluating the impact of the adoption of this ASU on its future financial statements and disclosures, but in the same time we don't expect to have a significant impact on the Company's results of operations, financial position or cash flow. |
Concentration of Credit Risk
Concentration of Credit Risk | 6 Months Ended |
Dec. 31, 2023 | |
Risks and Uncertainties [Abstract] | |
Concentration of Credit Risk | NOTE 3 — Concentration of Credit Risk The Company maintains cash balances at a Bank of America financial institution. The balance, at any given time, may exceed Federal Deposit Insurance Corporation FDIC insurance limits of $ 250,000 per institution. The Company’s cash balances at December 31, 2023 were within FDIC insured limits. |
Concentrations
Concentrations | 6 Months Ended |
Dec. 31, 2023 | |
Concentrations | |
Concentrations | NOTE 4 — Concentrations We have a small group of customers from whom we received the income and in the present time we can’t diversify in order to mitigate the risks. |
Investment in Subsidiary _ Figh
Investment in Subsidiary – Fighting Leagues | 6 Months Ended |
Dec. 31, 2023 | |
Investments in and Advances to Affiliates [Abstract] | |
Investment in Subsidiary – Fighting Leagues | NOTE 5 – Investment in Subsidiary – Fighting Leagues Investment in Subsidiary - Fighting Leagues of $ 13,098,000 The Company incurred $ 3,155 The results for both Fighting Leagues LV Inc and Jebour Two Ltd have yet to be consolidated since the date of acquisition as the audit for both companies have yet to be finalised. The acquisitions were accounted for as business combinations in accordance to ASC 805-10-55-3A through 805-10-55-9 as the acquisitions did not comprise solely the Nevada license, but the TV equipment and sound system, technical knowledge know-how on operating a live combat shows, which each of these components are inseparable and critical to ensure that the live shows can be carried out smoothly. The preliminary fair values of the assets acquired and liabilities assumed in the business combinations are as follows: Fighting Leagues LV Inc ($) Jebour Two Ltd ($) Cash on hand — 10 Property and equipment 983,194 — Other liabilities (1,066,411 ) — Net assets acquired (83,217 ) 10 At the date of the filing of the 10Q, more work is required to be done to allocate the purchase price to this asset in accordance with accounting policies. The company understands that the allocation of such assets will have to be completed within 12 months from acquisition date. In addition, an audit is being conducted on the financial statements for both companies which will assist in determining and identifying assets and liabilities of Jebour Two Ltd and Fighting Leagues LV Inc. |
Debt
Debt | 6 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Debt | NOTE 6 — Debt The Company officers, from time to time loaned the Company funds for the operational costs. In a present time, we have not any debt before them. |
Capital Stock
Capital Stock | 6 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Capital Stock | NOTE 7 — Capital Stock On December 31, 2023 the Company authorized 75,000,000 shares of common shares with a par value of $ 0.001 per share. As of December 31, 2023, there were 29,372,951 shares of the Company’s common stock issued and outstanding. 4,667,000 were held by Cristophe Beverly Hills, LLC., address: 35 Raymond St Darien, CT 06820, 9,334,000 were held by Unity Global FZCO, address: Dubai Silicon Oasis, DDP Bldg. A2 Dubai, UAE and 1,591,000 were held by 54 non-affiliated shareholders. For the six months period ended December 31, 2023, a total of 12,380,951 restricted shares were issued as consideration of the acquisition of Fighting Leagues & Jebour Two. Additionally, a total of 1,400,000 common shares were issued as share-based payments for consultancy fees. Restricted Stock Breakdown: No. of Restricted Shares Issuance Date Restriction Period 2,857,143 21-Sep-23 6 months 7,093,808 21-Sep-23 1% of restricted shares every 3 months 2,320,000 15-Nov-23 12 months 110,000 19-Dec-23 12 months For the 3 months period ended December 31,2023 we have no changes in our common stock. As of December 31, 2023, and December 31, 2022, there were no outstanding stock options or warrants. |
Income Taxes
Income Taxes | 6 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 8 — Income Taxes We use the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, “Income Taxes.” Under this method, income tax expense is recognized for the amount of (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity's financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized. ASC Subtopic 740.10. 30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Subtopic 740.10 provides guidance on recognition and measuring tax positions taken or expected to be taken in a tax return that directly or indirectly affect amounts reported in financial statements. We pay TAX liability end of the fiscal year and we don’t have a tax obligation in this period. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 9 — Related Party Transactions There was no a related party transaction for the three months period ended December 31, 2023. Also, there was no related party transaction for the three months period ended December 31, 2022. |
Going Concern
Going Concern | 6 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 10 — Going Concern The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern. For the six months period ended December 31, 2023, the Company had a cash balance of $ 27,947 and net loss of $ 1,988,662 . For the six months period ended December 31, 2022, the Company had a Stockholders’ Equity of $ 7,112 624 We have a positive development dynamic, but it still raises substantial doubt about the Company's ability to continue as a going concern. Management believes that the Company's capital requirements will depend on many factors including the success of our development efforts and our efforts to raise capital. Management also believes the Company needs to raise additional capital for working purposes. There is no assurance that such financing will be available in the future. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Subsequent Events and climate-r
Subsequent Events and climate-related events impacts to financial statement | 6 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events and climate-related events impacts to financial statement | NOTE 11 — Subsequent Events and climate-related events impacts to financial statement The rule would require company to disclose, in a footnote to the financial statements, the financial statement impacts of (i) climate-related events, including severe weather events and other natural conditions such as flooding, drought, wildfires, extreme temperatures, and sea level rise, and (ii) transition activities, including efforts to reduce GHG emissions or otherwise mitigate exposure to transition risks. The Company's management reviewed all material events through December 31, 2023 the date our quarter ended. By this date we don’t have any assets that directly or indirectly influenced on environmental. We indicated risks, include climate related risks in Item 1A Risk Factors in our 10-K report. |
Significant Accounting Polici_2
Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 6 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company uses the accrual basis of accounting and accounting principles. The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Financial Statements and related disclosures as of December 31,2023 (Unaudited) and December 31,2022 (Unaudited) pursuant to the rules and regulations of the United States Securities and Exchange Commission (`SEC"). The Company has adopted June 30 fiscal year end. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC 825, ‘Disclosures about Fair Value of Financial Instruments, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2023. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accrued liabilities and notes payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. |
Basic and Diluted Loss Per Share | Basic and Diluted Loss Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 ‘Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes al potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal. |
Revenue Recognition | Revenue Recognition We base our judgment on guidance ASC 606. The Company considered recognizes its revenue on the accrual basis, which considers revenue to be earned when the services have been performed. We considered gross revenue as a principal. Our revenue includes payments from the costumers for the logistic business. We Estimating Gross Revenue as a Principal. We evaluate the nature of our promises under the contracts and use judgment to determine whether the contracts include services, which we would need to evaluate for a material right or a performance obligation with quantity of services to be delivered. ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) amends revenue recognition guidance within ASC 606 for these types of transactions. To determine the nature of its promise to the customer, the entity should: 1. Identify the specified goods or services to be provided to the customer, and 2. Assess whether it controls each specified good or service before that good or service is transferred to the customer. We are primarily responsible for fulfilling the promise to provide the specified service. We have the inventory risk before the specified service has been transferred to a customer, or after transfer of control to the customer (for example, if the customer has a right for cancel or return). |
Accounting Pronouncements | Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) - Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity,” which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments. The new guidance removes the separation models for convertible debt with a cash conversion feature or a beneficial conversion feature. In addition, the new standard provides guidance on calculating the dilutive impact of convertible debt on earnings per share. The ASU clarifies that the average market price should be used to calculate the diluted earnings per share denominator when the exercise price or the number of shares that may be issued is variable. The ASU is effective for the Company on January 1, 2022, including interim periods, with early adoption permitted, although implementation has been delayed for smaller reporting companies for fiscal years beginning after December 15, 2023. The ASU permits the use of either a full or modified retrospective method of adoption. The Company is still evaluating the impact of the adoption of this ASU on its future financial statements and disclosures, but in the same time we don't expect to have a significant impact on the Company's results of operations, financial position or cash flow. |
Investment in Subsidiary _ Fi_2
Investment in Subsidiary – Fighting Leagues (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Investments in and Advances to Affiliates [Abstract] | |
[custom:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedTableTextBlock] | Fighting Leagues LV Inc ($) Jebour Two Ltd ($) Cash on hand — 10 Property and equipment 983,194 — Other liabilities (1,066,411 ) — Net assets acquired (83,217 ) 10 |
Capital Stock (Tables)
Capital Stock (Tables) | 6 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Restricted Stock Breakdown: No. of Restricted Shares Issuance Date Restriction Period 2,857,143 21-Sep-23 6 months 7,093,808 21-Sep-23 1% of restricted shares every 3 months 2,320,000 15-Nov-23 12 months 110,000 19-Dec-23 12 months |
Description of Business (Detail
Description of Business (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
[custom:SharesOfCommonStockIssuedToThreeNonU.sPersonsInOffshoreTransactionShare] | 12,380,951 | ||||
Net Income (Loss) Attributable to Parent | $ (2,088,137) | $ 1,988,662 | $ 2,743 | $ (1,988,662) | $ (624) |
Concentration of Credit Risk (D
Concentration of Credit Risk (Details Narrative) | Dec. 31, 2023 USD ($) |
Risks and Uncertainties [Abstract] | |
Cash, FDIC Insured Amount | $ 250,000 |
SUMMARY OF RECOGNIZED IDENTIFIA
SUMMARY OF RECOGNIZED IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES (Details) | Dec. 31, 2023 USD ($) |
Fighting Leagues L V Inc [Member] | |
Cash on hand | |
Property and equipment | 983,194 |
Other liabilities | (1,066,411) |
Net assets acquired | (83,217) |
Jebour Two Ltd [Member] | |
Cash on hand | 10 |
Property and equipment | |
Other liabilities | |
Net assets acquired | $ 10 |
Investment in Subsidiary _ Fi_3
Investment in Subsidiary – Fighting Leagues (Details Narrative) | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Investments in and Advances to Affiliates [Abstract] | |
Investments and Cash | $ 13,098,000 |
Acquisition Costs, Period Cost | $ 3,155 |
Capital Stock (Details Narrativ
Capital Stock (Details Narrative) - $ / shares | 6 Months Ended | ||
Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 | |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |
Common Stock, Shares, Issued | 29,372,951 | 15,592,000 | |
Common Stock, Shares, Outstanding | 29,372,951 | 15,592,000 | |
[custom:SharesOfCommonStockIssuedToThreeNonU.sPersonsInOffshoreTransactionShare] | 12,380,951 | ||
[custom:IssuanceForServicesPursuantToAdvisoryAndConsultancyShare] | 1,400,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 0 | ||
Cristophe Beverly Hills L L C [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Common Stock, Shares, Outstanding | 4,667,000 | ||
Unity Global F Z C O [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Common Stock, Shares, Outstanding | 9,334,000 | ||
Non Affiliated Shareholders [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Common Stock, Shares, Outstanding | 1,591,000 | ||
Common Stock [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Common Stock, Shares Authorized | 75,000,000 | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 6 Months Ended | 9 Months Ended |
Dec. 31, 2023 | Mar. 31, 2022 | |
Related Party Transactions [Abstract] | ||
Related Party Transaction, Amounts of Transaction | $ 0 | $ 0 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||
Cash | $ 27,947 | $ 27,947 | $ 27,947 | $ 609 | |||
Net Income (Loss) Attributable to Parent | 2,088,137 | (1,988,662) | $ (2,743) | 1,988,662 | $ 624 | ||
Stockholders' Equity Attributable to Parent | $ 13,125,946 | $ 13,125,946 | $ 7,112 | $ 13,125,946 | $ 7,112 | $ 608 | $ 7,736 |