The following discussion should be read in conjunction with our consolidated financial statements, including the accompanying notes, appearing elsewhere in this annual report. The following discussion contains forward-looking statements which reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this annual report. Our audited consolidated financial statements are presented in United States Dollars and are prepared in accordance with US generally accepted accounting principles.

Results of Operations

The following summary of our operations should be read in conjunction with our audited consolidated financial statements for the year ended. June 30, 2021 and 2020.

Year ended June 30, 2021 Compared to the closed financial year June 30, 2020

Our operating results for the year ended June 30, 2021 and 2020, and the variations between these periods for the respective items are summarized as follows:

                             Year Ended
                     June 30,        June 30,
                       2021            2020             Change          %
Operating expenses   $ (29,689 )   $ (25,037,849 )   $ 25,008,160     (100%)
Other expenses       $ (60,049 )   $     (96,660 )   $     36,611      (38%)
Net loss             $ (89,738 )   $ (25,134,509 )   $ 25,044,771     (100%)

No income was generated for the year ended June 30, 2021 and 2020.

The net loss was $ 89,738 for the year ended June 30, 2021 compared to the net loss of
$ 25,134,509 for the year ended June 30, 2020 mainly due to lower operating and other expenses. During the year ended June 30, 2020, the Company incurred stock-based compensation of $ 25,000,000 from the payable shares of 25,000,000 ordinary shares outstanding on the basis of the price of the shares at $ 1.00
per share to the Chief Executive Officer of the Company as compensation for the year 2019.

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Liquidity and Capital



Working Capital



                             June 30,       June 30,
                               2021           2020         Change        %
Current Assets              $        -     $        -     $       -        0 %

Current liabilities $ 173,010 $ 114,731 $ 58,279 51% Working Capital (Deficit) ($ 173,010) $ (114,731) $ (58,279) 51%

                                                    Year Ended
                                              June 30,      June 30,
                                                2021          2020

Cash flow used in operating activities $ (35,483) ($ 32,205)
Cash flow generated by financing activities 35,483 32,205 Net variations in cash during the period

             $       -     $       -

The financial statements included in this annual report have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. As the financial statements of June 30, 2021 and June 30, 2020, we had a cumulative deficit of $ 25,472,698 and $ 25,382,960 from continuing operations, respectively, and retained earnings of $ 109,905 and $ 109,905 discontinued operations, June 30, 2021 and June 30, 2020, respectively. We had a working capital deficit (total current liabilities exceeded total current assets) of $ 173,010
and $ 114,731 To June 30, 2021 and June 30, 2020, respectively. The increase in the working capital deficit is mainly due to the increase in convertible notes and accrued interest. Our cash balance and revenue generated are not currently sufficient and cannot be projected to cover our operating expenses for the next 12 months from the date of filing of this report. These and other factors raise significant doubts about our ability to continue in business for a reasonable period of time.

Cash flow from operating activities

Net cash used in our operating activities for the year ended June 30, 2021
totaled $ 35,483, compared to the net cash used in our operations for the year ended
June 30, 2020 of $ 32,205.

For the year ended June 30, 2020, the net cash flows used in operating activities were $ 35,483, consisting of a net loss of $ 89,738, less the amortization of the debt discount of $ 26,159 and changes in operating liabilities of $ 28,096.

For the year ended June 30, 2020, the net cash flows used in operating activities were $ 32,205, consisting of a net loss of $ 25,134,509, less stock-based compensation of $ 25,000,000, amortization of the debt discount of $ 83,801 and changes in operating liabilities of $ 18,503.

Cash flow from investing activities

For the year ended June 30, 2021 and June 30, 2020, we had no investment activity.

Cash flow from financing activities

For the year ended June 30, 2021, the net cash from financing activities was
$ 35,483 proceeds from the issuance of convertible notes $ 26,159 and advancement of the Director of the Company to pay operating expenses on behalf of the Company from $ 9,324.

For the year ended June 30, 2020, the net cash from financing activities was
$ 32,205 proceeds from the issuance of convertible notes.

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Our existence depends on the ability of management to develop profitable operations. Management devotes almost all of its efforts to developing our business and raising capital and there can be no assurance that our efforts will be successful. No assurance can be given that management’s actions will result in profitable operations or the resolution of our liquidity issues. The financial statements do not include any adjustments that could result if we are unable to continue to operate. In order to improve our liquidity, management is actively seeking additional equity financing through discussions with investment bankers and private investors. There can be no assurance that we will be successful in our efforts to obtain additional equity financing.

Liquidity and capital resources

Our cash balance at June 30, 2021 was NIL $, with $ 173,010 in current liabilities, made up of $ 12,277 in accounts payable and accrued liabilities,
$ 46,749 in accrued interest, $ 104,660 in convertible notes and $ 9,324 as an amount owed to a related party. We estimate that total spending over the next 12 months should be around $ 50,000.

Contractual Obligations

As a “small reporting company”, we are not required to provide tabular disclosure obligations.

Off-balance sheet provisions

We have no off-balance sheet arrangement that has or is reasonably likely to have a current or future effect on our financial condition, changes in financial condition, income or expenses, results of operations, liquidity, capital expenditures or capital resources that are important to shareholders.

Critical Accounting Policies

The preparation of financial statements in accordance with generally accepted accounting principles in United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period . A change in management’s estimates or assumptions could have a material effect on our financial condition and results of operations in the period in which these changes occurred. Actual results could differ from these estimates. Our financial statements reflect all adjustments that management deems necessary for a fair presentation of their financial position and results of operations for the periods presented.

Recent accounting positions

Management has taken into account all recent published accounting positions. Our management believes that these recent statements will not have a material effect on the financial statements of our company.

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