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TGCB Tego Cyber

Cover

Cover - shares6 Months Ended
Dec. 31, 2020Feb. 15, 2021
Cover [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Period End DateDec. 31,
2020
Document Fiscal Period FocusQ2
Document Fiscal Year Focus2020
Current Fiscal Year End Date--06-30
Entity File Number333-248929
Entity Registrant NameTego Cyber, Inc.
Entity Central Index Key0001815632
Entity Incorporation, State or Country CodeNV
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding13,070,236

INTERIM CONDENSED BALANCE SHEET

INTERIM CONDENSED BALANCE SHEET - USD ($)Dec. 31, 2020Jun. 30, 2020
Current assets
Cash $ 96,158 $ 81,872
Accounts receivable1,150 150
Total current assets97,308 82,022
Software50,750 21,500
Total assets148,058 103,522
Current liabilities
Accounts payable and accrued liabilities36,841 15,554
Due to related parties1,358 1,358
Convertible debts19,136 0
Total liabilities57,335 16,912
SHAREHOLDERS' EQUITY
Common shares, 50,000,000 shares authorized, $0.001 par value, 13,070,236 shares issued and outstanding at December 31, 2020 and 12,406,236 shares issued and outstanding at June 30, 202013,070 12,406
Additional paid in capital353,601 175,906
Subscriptions receivable(2,000)(24,500)
Accumulated deficit(273,948)(77,202)
Total shareholders' equity90,723 86,610
Total liabilities & shareholders' equity $ 148,058 $ 103,522

INTERIM CONDENSED BALANCE SHE_2

INTERIM CONDENSED BALANCE SHEET (Parenthetical) - $ / sharesDec. 31, 2020Jun. 30, 2020
Statement of Financial Position [Abstract]
Common stock, authorized50,000,000 50,000,000
Common stock, par value$ .001 $ 0.001
Common stock, issued13,070,236 12,406,236
Common stock, outstanding13,070,236 12,406,236

INTERIM CONDENSED STATEMENT OF

INTERIM CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)3 Months Ended4 Months Ended6 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2019Dec. 31, 2020
REVENUE
Consulting fees $ 900 $ 0 $ 0 $ 3,800
OPERATING EXPENSES
Advertising & promotion4,375 5,028 5,028 19,545
Bank charges & fees392 201 201 1,207
Interest on short-term debt526 0 0 526
Investor relations2,749 0 0 2,749
Legal & accounting50,500 6,000 6,725 83,990
Management fees31,000 13,200 13,200 56,500
Meals & entertainment33 21 21 179
Office & administration881 10 10 1,073
Rent & utilities117 156 156 234
Subscriptions & dues165 0 0 296
Transfer agent & regulatory fees4,675 0 0 8,996
Travel & hotel313 102 102 313
Website & internet165 407 407 943
Total operating expenses95,891 25,125 25,850 176,551
Loss from operations(94,991)(25,125)(25,850)(172,751)
OTHER INCOME (EXPENSE)
Accretion expense(12,511)0 0 (12,511)
Financing fees(11,484)0 0 (11,484)
Total other income (expense)(23,995)0 0 (23,995)
Net loss and comprehensive loss $ (118,986) $ (25,125) $ (25,850) $ (196,746)
Basic and diluted loss per common share $ (0.01) $ (0.01) $ (0.01) $ (0.02)
Weighted average number of common shares outstanding basic and diluted12,926,758 4,410,110 4,410,110 12,872,693

INTERIM CONDENSED STATEMENT O_2

INTERIM CONDENSED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)Common StockAdditional Paid-In CapitalSubscriptions ReceivableAccumulated DeficitTotal
Beginning balance, shares at Sep. 05, 20190
Beginning balance, amount at Sep. 05, 2019 $ 0 $ 0 $ 0 $ 0 $ 0
Shares issued to founders, shares8,000,000
Shares issued to founders, amount $ 8,000 8,000
Shares issued for services, shares1,000,000
Shares issued for services, amount $ 1,000 9,000 10,000
Private placement, shares290,380
Private placement, amount $ 290 14,229 14,519
Shares issued as transaction costs for convertible debt, amount0
Equity portion of convertible debt0
Warrants issued as transaction costs for convertible debt0
Net loss for the period (25,850)(25,850)
Ending balance, shares at Dec. 31, 20199,290,380
Ending balance, amount at Dec. 31, 2019 $ 9,290 23,229 0 (25,850)6,669
Private placement, shares3,115,856
Private placement, amount $ 3,116 152,667 (24,500)131,293
Net loss for the period (51,352)(51,352)
Ending balance, shares at Jun. 30, 202012,406,236
Ending balance, amount at Jun. 30, 2020 $ 12,406 175,906 (24,500)(77,202)86,610
Private placement, shares554,000
Private placement, amount $ 554 37,946 22,500 61,000
Shares issued as transaction costs for convertible debt, shares110,000
Shares issued as transaction costs for convertible debt, amount $ 110 10,890 11,000
Equity portion of convertible debt81,961 81,961
Warrants issued as transaction costs for convertible debt46,898 46,898
Net loss for the period (196,746)(196,746)
Ending balance, shares at Dec. 31, 202013,070,236
Ending balance, amount at Dec. 31, 2020 $ 13,070 $ 353,601 $ (2,000) $ (273,948) $ 90,723

INTERIM CONDENSED STATEMENT O_3

INTERIM CONDENSED STATEMENT OF CASH FLOWS - USD ($)4 Months Ended6 Months Ended
Dec. 31, 2019Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period $ (25,850) $ (196,746)
Items not affecting cash
Accretion expense on convertible debts0 12,511
Financing fees0 11,484
Changes in non-cash working capital items:
Accounts receivable0 (1,000)
Accounts payable and accrued liabilities0 16,287
Due to related parties864 0
Net cash used in operating activities(24,986)(157,464)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of software(7,500)(24,250)
Net cash used in investing activities(7,500)(24,250)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from shares issued32,519 38,500
Collection of subscription receivable0 22,500
Proceeds from convertible debt0 150,000
Convertible debt issuance costs0 (15,000)
Net cash provided by financing activities32,519 196,000
Net increase (decrease) in cash33 14,286
Cash at beginning of the period0 81,872
Cash at end of the period33 96,158
Non-cash investing and financing activities:
Software included in accounts payable and accrued liabilities0 5,000
Shares issued with convertible debt0 11,000
Warrants issued with convertible debt0 46,898
Equity portion of convertible debts $ 0 $ 81,961

1. ORGANIZATION AND DESCRIPTION

1. ORGANIZATION AND DESCRIPTION OF BUSINESS6 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESSTego Cyber Inc. (the “Company”)
was incorporated on September 6, 2019 in the State of Nevada. The Company has developed a threat intelligence platform designed
to source then identify threats to an enterprise network before the threat has entered and caused irreparable harm. Tego also offer
advanced cybersecurity consulting services including vulnerability assessments, penetration testing, vCISO services, dark web monitoring,
cybersecurity policy creation and employee training. The Company’s head office is at at 8565
S. Eastern Ave. #150, Las Vegas, Nevada, 89123.

2. BASIS OF PRESENTATION

2. BASIS OF PRESENTATION6 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATIONThe accompanying interim condensed financial
statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US
GAAP”). Certain information and footnote disclosures
normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to US GAAP
rules and regulations for presentation of interim financial information. Therefore, the unaudited interim condensed financial statements
should be read in conjunction with the financial statements and the notes thereto, included in the Company’s audited financial
statements for the year ended June 30, 2020. Current and future financial statements may not be directly comparable to the Company’s
historical financial statements. However, except as disclosed herein, there have been no material changes in the information disclosed
in the notes to the financial statements for the year ended June 30, 2020. In the opinion of management, all adjustments considered
necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the
six months ended December 31, 2020 are not necessarily indicative of the results that may be expected for the year ending June
30, 2021.

3. GOING CONCERN UNCERTAINTY

3. GOING CONCERN UNCERTAINTY6 Months Ended
Dec. 31, 2020
Going Concern Uncertainty
GOING CONCERN UNCERTAINTYThe accompanying unaudited interim condensed
financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction
of liabilities in the normal course of the business. The Company has incurred material losses from operations and has an accumulated
deficit. At December 31, 2020, the Company had a working capital surplus of $39,973 (June 30, 2020 - $65,110). For the six-month
period ended December 31, 2020, the Company sustained net losses and generated negative cash flows from operations. In March 2020,
the World Health Organization recognized the outbreak of COVID-19 as a global pandemic. The COVID-19 pandemic and government actions
implemented to contain the further spread of COVID-19 have severely restricted economic activity around the world. These factors,
among others, raise substantial doubt about the Company’s ability to continue as a going concern. The interim condensed financial
statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts
and classification of liabilities that may be necessary should the Company be unable to continue as a going concern. These adjustments
could be material. The Company’s continuation as a going concern is contingent upon its ability to earn adequate revenues
from operations and to obtain additional financing. There is no assurance that the Company will be able to obtain such financing
or obtain them on favorable terms.

4. SUMMARY OF SIGNIFICANT ACCOU

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES6 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThis summary of significant accounting policies
is presented to assist in understanding the interim condensed financial statements. The interim condensed financial statements
and notes are representations of the Company’s management, who are responsible for their integrity and objectivity. These
accounting policies conform to US GAAP and have been consistently applied in the preparation of the interim condensed financial
statements. Basis of Preparation The accompanying interim condensed financial
statements have been prepared to present the balance sheet, the statement of operations and comprehensive loss, statement of changes
in shareholders’ equity and statement of cash flows of the Company for the six month period ended December 31, 2020, and
have been prepared in accordance with US GAAP. Use of Estimates In preparing the interim condensed financial
statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities at the dates of the interim condensed financial statements, as
well as the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the
best information available at the time the estimates are made. However, actual results could differ materially from those estimates.
Significant estimates made by management affecting the consolidated financial statements include:
(i) Discount rates used for convertible debt The Company estimates the fair value
of the convertible debt by calculating the present value of the debt and related interest, using a discounted rate equal to the
incremental borrowing rate that would be given for similar debt.
(ii) Fair value of warrants Estimating the fair value for warrants
requires determining the most appropriate valuation model which is dependent on the terms and conditions of the grant. This estimate
also requires determining the most appropriate model including the expected life of the warrant, volatility, dividend yield, and
rate of forfeitures and making assumptions about them.
(iii) Recovery of deferred tax assets Valuation allowances are provided
for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their
benefits, or that future deductibility is uncertain. Concentrations of Credit Risk Financial instruments that potentially subject
the Company to significant concentrations of credit risk consist principally of cash and accounts receivable. As at December 31,
2020, substantially all of the Company’s cash was held by major financial institutions located in the United States, which
management believes are of high credit quality. With respect to accounts receivable, the Company extended credit based on an evaluation
of the customer’s financial condition. The Company generally did not require collateral for accounts receivable and maintained
an allowance for doubtful accounts of accounts receivable if necessary. Cash Cash consists of cash held at major financial
institutions and is subject to insignificant risk of changes in value. Receivables and Allowance for Doubtful Accounts Trade accounts receivable are recorded at net
realizable value and do not bear interest. No allowance for doubtful accounts was made during the six month period ended December
31, 2020, based on management’s best estimate of the amount of probable credit losses in accounts receivable. The Company
evaluates its allowance for doubtful accounts based upon knowledge of its customers and their compliance with credit terms. The
evaluation process includes a review of customers’ accounts on a regular basis. The review process evaluates all account
balances with amounts outstanding for more than 60 days and other specific amounts for which information obtained indicates that
the balance may be uncollectible. As of December 31, 2020, there was no allowance for doubtful accounts and the Company does not
have any off-balance-sheet credit exposure related to its customers. Software Software is stated at cost less accumulated
amortization and is depreciated using the straight-line method over the estimated useful life of the asset. The estimated useful
life of the asset is 5 years and is not depreciated until it is available for use by the Company. Leases The Company determines if an arrangement is
a lease at inception. Operating and financing right-of-use assets and lease liabilities are included on the balance sheet. Right-of-use
assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s
obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at commencement date
based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, based on the
information available at the commencement date, in determining the present value of future lease payments. Right-of-use assets
include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Operating lease expenses
are recognized on a straight-line basis over the term of the lease, consisting of interest accrued on the lease liability and depreciation
of the right-of-use asset. The lease terms may include options to extend or terminate the lease is it is reasonably certain the
Company will exercise that option. As at December 31, 2020, the Company had no leases. Fair Value of Financial Instruments Accounting Standards Codification (“ASC”)
820 “Fair Value Measurements and Disclosures”, adopted January 1, 2008, defines fair value, establishes a three-level
valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The
Company’s financial instruments include cash, current receivables and payables, convertible debts, and warrants. These financial
instruments are measured at their respective fair values. The three levels are defined as follows: Level 1 - inputs to the valuation methodology
are quoted prices for identical assets or liabilities in active markets. Level 2 - inputs to the valuation methodology
include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability,
either directly or indirectly, for substantially the full term of the financial instruments. Level 3 - inputs to the valuation methodology
are unobservable and significant to the fair value. For cash, accounts receivable, accounts payable
and accrued liabilities and due to related parties, it is management’s opinion that the carrying values are a reasonable
estimate of fair value because of the short period of time between the origination of such instruments and their expected realization
and if applicable, their stated interest rate approximates current rates available. For convertible debts, the carrying values,
excluding any unamortized discounts, approximate the respective fair value. The convertible debts have been discounted to reflect
their net present value as at December 31, 2020. Estimating fair value for warrants require determining
the most appropriate valuation model which is dependent on the terms and conditions of the grant. This estimate requires determining
the most appropriate inputs to the valuation model including the expected life of the warrant, volatility, dividend yield, and
rate of forfeitures and making assumptions about them. Revenue Recognition Revenue from providing consulting and management
services is recognized in a manner that reasonably reflects the delivery of services to customers in return for expected consideration
and includes the following elements: - - - - - These five elements as applied to the Company’s
consulting services results in revenue recorded as services are provided. Income Taxes The Company uses the asset and liability method
of accounting for income taxes pursuant to ASC 740 “Income Taxes”. ASC 740 requires an asset and liability approach
for financial accounting and reporting for income taxes and allows recognition and measurement of deferred tax assets based upon
the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided
for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for income tax purposes. Valuation allowances are provided for deferred tax assets if it is more
likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility
is uncertain. The provision for income taxes represents current taxes payable net of the change during the period in deferred tax
assets and liabilities. Foreign Currency Translation The Company’s functional and reporting
currency is United States dollars (“USD”). The Company maintains its financial statements in the functional currency.
Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional
currency at rates of exchange prevailing at the balance sheet dates. Transactions denominated in currencies other than the functional
currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Exchange
gains or losses arising from foreign currency transactions are included in the determination of net income (loss). Earnings (Loss) per Share Basic earnings (loss) per share is computed
by dividing income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the
period. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is
increased to include the number of additional common shares that would have been outstanding if the potential common shares had
been issued and if the additional common shares were dilutive. If applicable, diluted earnings (loss) per share assume the conversion,
exercise or issuance of all common stock instruments unless the effect is to reduce a loss or increase earnings per share. Recently Issued Accounting Pronouncements Recent accounting pronouncements issued by the
FASB (including its Emerging Issues Task Force) did not or are not expected to have a material impact on the Company's present
or future financial statements.

5. SOFTWARE

5. SOFTWARE6 Months Ended
Dec. 31, 2020
Capitalized Computer Software, Net [Abstract]
SOFTWARESoftware consisted of the following:
Cost Accumulated Amortization Net
Software, as at June 30, 2020 $ 21,500 $ — $ 21,500
Software, as at December 31, 2020 $ 50,750 $ — $ 50,750 As of December 31, 2020, the software is not in use and no depreciation
has been recorded for the period then ended.

6. RELATED PARTY TRANSACTIONS

6. RELATED PARTY TRANSACTIONS6 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONSRelated party transactions are measured at the
exchange amount, which is the amount of consideration established and agreed to by the related parties. Related parties are natural
persons or other entities that have the ability, directly, or indirectly, to control another party or exercise significant influence
over the party in making financial and operating decisions. Related parties include other parties that are subject to common control
or that are subject to common significant influences. On the date of incorporation 8,000,000 shares
were issued to directors and founders at par value as per the following in exchange for concept and services valued at $8,000:
Shannon Wilkinson, Director, CEO, CFO, Secretary, Treasurer: 3,000,000; Troy Wilkinson, Director, President: 3,000,000; Michael
De Valera, Director: 1,000,000; and Stephen Seminew, Co-Founder: 1,000,000. During the six month period ended December 31,
2020, there were transactions incurred between the Company and Shannon Wilkinson, Director, CEO, CFO, Secretary and Treasurer for
management fees of $56,500 (June 30, 2020 - $29,700) and reimbursement of expenses incurred on behalf of the Company. As of December
31, 2020, included in due to related parties, is $1,308 (June 30, 2020 - $1,308) due to this officer.

7. COMMON SHARES

7. COMMON SHARES6 Months Ended
Dec. 31, 2020
SHAREHOLDERS' EQUITY
COMMON SHARESAt December 31, 2020, the Company’s authorized
capital consisted of 50,000,000 of common shares with a $0.001 par value and 13,070,236 shares were issued and outstanding. During the six-months ended December 31,
2020 Between July 2, 2020 and July 31, 2020, the
Company completed various private placements whereby a total of 500,000 common shares were issued at a price of $0.05 per share
for a total value of $25,000. Between November 24, 2020 and December 11, 2020,
the Company completed various private placements whereby a total of 54,000 common shares were issued at a price of $0.25 per share
for a total value of $13,500. On December 28, 2020, the Company issued 110,000
shares to a non-related party at a price of $0.10 per share for a total value of $11,000 as commitment shares in exchange for services
related to the issuance of convertible debt on Note 8 (b). During the year ended June 30, 2020 On November 4, 2019, the Company issued 8,000,000
shares to the founders with a fair value of $8,000 in exchange for services. On November 15, 2019, the Company issued 1,000,000
shares to two non-related parties with a fair value of $10,000 in exchange for services. Between November 21, 2019 and June 30, 2020,
the Company completed various private placements whereby a total of 3,406,236 common shares were issued at a price of $0.05 per
share for a total value of $170,312. Warrants During the six-month period ended December 31,
2020, the Company granted an aggregate of 1,100,000 warrants with a contractual life of two years and exercise price of $0.25 per
share to lenders as part of the convertible debt financing transaction (Note 8 (b)). The warrants were valued at $0.13 per warrant,
using the Black Scholes Option Pricing Model with the assumptions outlined below. The stock price was based on recent issuances.
Expected life was based on the expiry date of the warrants as the Company did not have historical exercise data of such warrants.
December 31,
Stock price $ 0.25
Risk-free interest rate 1.06 %
Expected life 2 years
Expected dividend rate 0 %
Expected volatility 102.03 % Continuity of the Company’s common stock
purchase warrants issued and outstanding is as follows:
Number of Warrants Weighted Average Exercise Price
Outstanding, June 30, 2020 — $ —
Granted 1,100,000 0.25
Exercised — —
Expired — —
Outstanding, December 31, 2020 1,100,000 $ 0.25 As at December 31, 2020, the weighted average
remaining contractual life of warrants outstanding was 1.99 years with an intrinsic value of $0.13 .

8. COVERTIBLE DEBTS

8. COVERTIBLE DEBTS6 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]
COVERTIBLE DEBTS(a) On November 10, 2020, the Company issued two convertible debts in the principal amount of $20,000 each in exchange for cash. Each convertible debt is unsecured, bears interest at 8% per annum compounded on the basis of a 365-day year and actual days lapsed, is convertible at $0.10 per 1 common share, and matures in six months on May 10, 2021. The carrying value of beneficial conversion features not considered to be derivative instruments was determined by allocating the intrinsic value of the conversion features from proceeds. As a result, all of $20,000 proceeds was allocated to the beneficial conversion feature, recorded as an equity portion of convertible debt, and there were no remaining proceeds available for allocation to the liability portion of the convertible debt. Each convertible debt was discounted by the amounts allocated to the conversion features. As at December 31, 2020, the unamortized discount on each convertible debt was $14,365 (December 31, 2019 - $Nil) and the carrying value of each convertible debt was $5,635 (December 31, 2019 - $Nil).
(b) On December 28, 2020, the Company entered into a securities purchase agreement with a non-related party. Pursuant to this agreement, the Company issued a convertible debt in the principal amount of $120,000 at $110,000 purchase price with $10,000 original issue discount. In connection with this note, the Company paid an additional $15,000 in cash transaction costs, issued 110,000 common shares valued at $11,000 in transaction costs, and issued 1,100,000 warrants exercisable at $0.25 per share, expiring on December 28, 2022. The warrants were calculated to have a relative fair value of $66,997, which was reduced by the equity components of the transaction costs of $20,099, leaving a value of $46,898 as at December 31, 2020. This convertible debt is unsecured, bears interest at 8% per annum compounded on the basis of a 365-day year and actual days lapsed, is convertible at $0.10 per 1 common share, and matures in nine months on September 28, 2021. The proceeds were allocated between
the convertible debt and warrants on a relative fair value basis, and the issuance costs were proportioned accordingly. The fair
value of the convertible debt was calculated using the present value of the debt and related interest at 12% incremental borrowing
rate as the discount rate. The warrants were valued using the Black Scholes Option Pricing Model (Note 7). The carrying value of beneficial conversion
features not considered to be derivative instruments was determined by allocating $41,961 for the intrinsic value of the conversion
features from the remaining proceeds allocated to the convertible debt after deducting the amount allocated to the warrants. As
such, there were no remaining proceeds available for allocation to the liability portion of the convertible debt. As at December
31, 2020, the carrying value of this convertible debt was $7,866 (December 31, 2019 - $Nil) net of $112,134 unamortized discounts.

9. COMMITMENTS AND CONTINGENCIE

9. COMMITMENTS AND CONTINGENCIES6 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIESThe Company leases its corporate office located
at 8565 S. Eastern Ave. #150, Las Vegas, Nevada. The initial lease term is for 12 months commencing on September 8, 2019 after
which the term is on a month-to-month basis. After the initial term, the Company may cancel the lease agreement at any time by
providing 30 days written notice. The Company has elected the short-term lease practical expedient of 12 months and has not recorded
a lease.

10. INCOME TAXES

10. INCOME TAXES6 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXESAs of December 31, 2020, the Company was in
a loss position; therefore, no deferred tax liability was recognized related to the undistributed earnings subject to withholding
tax. Net operating loss carry forward of the Company,
amounted to $273,948 for the six-month period ended December 31, 2020 (June 30, 2020 - $77,202). The net operating loss carry forwards
are available to be utilized against future taxable income for years through calendar year 2040. In assessing the reliability of
deferred income tax assets, management considers whether it is more likely than not that some portion or all of the deferred income
tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable
income during the periods in which those temporary differences become deductible. Management considers the scheduled projected
future taxable income, and tax planning strategies in making this assessment.

4. SUMMARY OF SIGNIFICANT ACC_2

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)6 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]
Basis of PreparationThe accompanying interim condensed financial
statements have been prepared to present the balance sheet, the statement of operations and comprehensive loss, statement of changes
in shareholders’ equity and statement of cash flows of the Company for the six month period ended December 31, 2020, and
have been prepared in accordance with US GAAP.
Use of EstimatesIn preparing the interim condensed financial
statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities at the dates of the interim condensed financial statements, as
well as the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the
best information available at the time the estimates are made. However, actual results could differ materially from those estimates.
Significant estimates made by management affecting the consolidated financial statements include:
(i) Discount rates used for convertible debt The Company estimates the fair value
of the convertible debt by calculating the present value of the debt and related interest, using a discounted rate equal to the
incremental borrowing rate that would be given for similar debt.
(ii) Fair value of warrants Estimating the fair value for warrants
requires determining the most appropriate valuation model which is dependent on the terms and conditions of the grant. This estimate
also requires determining the most appropriate model including the expected life of the warrant, volatility, dividend yield, and
rate of forfeitures and making assumptions about them.
(iii) Recovery of deferred tax assets Valuation allowances are provided
for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their
benefits, or that future deductibility is uncertain.
Concentrations of Credit RiskFinancial instruments that potentially subject
the Company to significant concentrations of credit risk consist principally of cash and accounts receivable. As at December 31,
2020, substantially all of the Company’s cash was held by major financial institutions located in the United States, which
management believes are of high credit quality. With respect to accounts receivable, the Company extended credit based on an evaluation
of the customer’s financial condition. The Company generally did not require collateral for accounts receivable and maintained
an allowance for doubtful accounts of accounts receivable if necessary.
CashCash consists of cash held at major financial
institutions and is subject to insignificant risk of changes in value.
Receivables and Allowance for Doubtful AccountsTrade accounts receivable are recorded at net
realizable value and do not bear interest. No allowance for doubtful accounts was made during the six month period ended December
31, 2020, based on management’s best estimate of the amount of probable credit losses in accounts receivable. The Company
evaluates its allowance for doubtful accounts based upon knowledge of its customers and their compliance with credit terms. The
evaluation process includes a review of customers’ accounts on a regular basis. The review process evaluates all account
balances with amounts outstanding for more than 60 days and other specific amounts for which information obtained indicates that
the balance may be uncollectible. As of December 31, 2020, there was no allowance for doubtful accounts and the Company does not
have any off-balance-sheet credit exposure related to its customers.
SoftwareSoftware is stated at cost less accumulated
amortization and is depreciated using the straight-line method over the estimated useful life of the asset. The estimated useful
life of the asset is 5 years and is not depreciated until it is available for use by the Company.
LeasesThe Company determines if an arrangement is
a lease at inception. Operating and financing right-of-use assets and lease liabilities are included on the balance sheet. Right-of-use
assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s
obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at commencement date
based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate, based on the
information available at the commencement date, in determining the present value of future lease payments. Right-of-use assets
include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Operating lease expenses
are recognized on a straight-line basis over the term of the lease, consisting of interest accrued on the lease liability and depreciation
of the right-of-use asset. The lease terms may include options to extend or terminate the lease is it is reasonably certain the
Company will exercise that option. As at December 31, 2020, the Company had no leases.
Fair Value of Financial InstrumentsAccounting Standards Codification (“ASC”)
820 “Fair Value Measurements and Disclosures”, adopted January 1, 2008, defines fair value, establishes a three-level
valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The
Company’s financial instruments include cash, current receivables and payables, convertible debts, and warrants. These financial
instruments are measured at their respective fair values. The three levels are defined as follows: Level 1 - inputs to the valuation methodology
are quoted prices for identical assets or liabilities in active markets. Level 2 - inputs to the valuation methodology
include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability,
either directly or indirectly, for substantially the full term of the financial instruments. Level 3 - inputs to the valuation methodology
are unobservable and significant to the fair value. For cash, accounts receivable, accounts payable
and accrued liabilities and due to related parties, it is management’s opinion that the carrying values are a reasonable
estimate of fair value because of the short period of time between the origination of such instruments and their expected realization
and if applicable, their stated interest rate approximates current rates available. For convertible debts, the carrying values,
excluding any unamortized discounts, approximate the respective fair value. The convertible debts have been discounted to reflect
their net present value as at December 31, 2020. Estimating fair value for warrants require determining
the most appropriate valuation model which is dependent on the terms and conditions of the grant. This estimate requires determining
the most appropriate inputs to the valuation model including the expected life of the warrant, volatility, dividend yield, and
rate of forfeitures and making assumptions about them.
Revenue RecognitionRevenue from providing consulting and management
services is recognized in a manner that reasonably reflects the delivery of services to customers in return for expected consideration
and includes the following elements: - - - - - These five elements as applied to the Company’s
consulting services results in revenue recorded as services are provided.
Income TaxesThe Company uses the asset and liability method
of accounting for income taxes pursuant to ASC 740 “Income Taxes”. ASC 740 requires an asset and liability approach
for financial accounting and reporting for income taxes and allows recognition and measurement of deferred tax assets based upon
the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided
for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for income tax purposes. Valuation allowances are provided for deferred tax assets if it is more
likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility
is uncertain. The provision for income taxes represents current taxes payable net of the change during the period in deferred tax
assets and liabilities.
Foreign Currency TranslationThe Company’s functional and reporting
currency is United States dollars (“USD”). The Company maintains its financial statements in the functional currency.
Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional
currency at rates of exchange prevailing at the balance sheet dates. Transactions denominated in currencies other than the functional
currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Exchange
gains or losses arising from foreign currency transactions are included in the determination of net income (loss).
Earnings (Loss) per ShareBasic earnings (loss) per share is computed
by dividing income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the
period. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is
increased to include the number of additional common shares that would have been outstanding if the potential common shares had
been issued and if the additional common shares were dilutive. If applicable, diluted earnings (loss) per share assume the conversion,
exercise or issuance of all common stock instruments unless the effect is to reduce a loss or increase earnings per share.
Recently Issued Accounting PronouncementsRecent accounting pronouncements issued by the
FASB (including its Emerging Issues Task Force) did not or are not expected to have a material impact on the Company's present
or future financial statements.

5. SOFTWARE (Tables)

5. SOFTWARE (Tables)6 Months Ended
Dec. 31, 2020
Capitalized Computer Software, Net [Abstract]
SoftwareCost Accumulated Amortization Net
Software, as at June 30, 2020 $ 21,500 $ — $ 21,500
Software, as at December 31, 2020 $ 50,750 $ — $ 50,750

7. COMMON SHARES (Tables)

7. COMMON SHARES (Tables)6 Months Ended
Dec. 31, 2020
SHAREHOLDERS' EQUITY
Warrant assumptionsDecember 31,
Stock price $ 0.25
Risk-free interest rate 1.06 %
Expected life 2 years
Expected dividend rate 0 %
Expected volatility 102.03 %
Warrant activityNumber of Warrants Weighted Average Exercise Price
Outstanding, June 30, 2020 — $ —
Granted 1,100,000 0.25
Exercised — —
Expired — —
Outstanding, December 31, 2020 1,100,000 $ 0.25

3. GOING CONCERN UNCERTAINTY (D

3. GOING CONCERN UNCERTAINTY (Details Narrative) - USD ($)Dec. 31, 2020Jun. 30, 2020
Going Concern Uncertainty
Working capital surplus $ 39,973 $ 65,110

4. SUMMARY OF SIGNIFICANT ACC_3

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)Dec. 31, 2020USD ($)
Accounting Policies [Abstract]
Allowance for doubtful accounts $ 0

5. SOFTWARE (Details)

5. SOFTWARE (Details) - USD ($)Dec. 31, 2020Jun. 30, 2020
Capitalized Computer Software, Net [Abstract]
Cost $ 50,750 $ 21,500
Accumulated amortization0 0
Software, net $ 50,750 $ 21,500

6. RELATED PARTY TRANSACTIONS (

6. RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)3 Months Ended4 Months Ended6 Months Ended
Dec. 31, 2020Dec. 31, 2019Dec. 31, 2019Dec. 31, 2020Jun. 30, 2020
Management fees $ 31,000 $ 13,200 $ 13,200 $ 56,500
Due to related parties1,358 1,358 $ 1,358
Officer
Due to related parties $ 1,308 $ 1,308 $ 1,308

7. COMMON SHARES (Details)

7. COMMON SHARES (Details)6 Months Ended
Dec. 31, 2020$ / shares
SHAREHOLDERS' EQUITY
Stock price$ .25
Risk-free interest rate1.06%
Expected life2 years
Expected dividend rate0.00%
Expected volatility102.03%

7. COMMON SHARES (Details 1)

7. COMMON SHARES (Details 1)6 Months Ended
Dec. 31, 2020$ / sharesshares
SHAREHOLDERS' EQUITY
Number of warrants outstanding, beginning | shares0
Number of warrants granted | shares1,100,000
Number of warrants exercised | shares0
Number of warrants expired | shares0
Number of warrants outstanding, ending | shares1,100,000
Weighted average exercise price outstanding, beginning | $ / shares$ .00
Weighted average exercise price granted | $ / shares.25
Weighted average exercise price exercised | $ / shares.00
Weighted average exercise price expired | $ / shares.00
Weighted average exercise price outstanding, ending | $ / shares$ .25

7. COMMON SHARES (Details Narra

7. COMMON SHARES (Details Narrative) - $ / shares6 Months Ended
Dec. 31, 2020Jun. 30, 2020
SHAREHOLDERS' EQUITY
Common stock, authorized50,000,000 50,000,000
Common stock, par value$ .001 $ 0.001
Common stock, issued13,070,236 12,406,236
Common stock, outstanding13,070,236 12,406,236
Number of warrants granted1,100,000
Weighted average exercise price granted$ .25
Weighted average remaining contractual life of warrants outstanding1 year 11 months 26 days
Warrant intrinsic value$ .13

8. COVERTIBLE DEBTS (Details Na

8. COVERTIBLE DEBTS (Details Narrative) - USD ($)Dec. 31, 2020Jun. 30, 2020
Debt Disclosure [Abstract]
Convertible debts $ 19,136 $ 0

10. INCOME TAXES (Details Narra

10. INCOME TAXES (Details Narrative) - USD ($)Dec. 31, 2020Jun. 30, 2020
Income Tax Disclosure [Abstract]
Net operating loss carry forward $ 273,948 $ 77,202