Monarchy Resources, Inc.

CIK:0001514324|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
REVENUES:
REVENUE	$ 121,040	$ 103,836	$ 329,307	$ 308,330
COST OF GOODS SOLD	(76,357)	(67,097)	(207,618)	(207,788)
GROSS MARGIN	44,683	36,739	121,689	100,542
EXPENSES
Depreciation	4,654	5,329	13,994	16,393
General and administrative	11,718	11,597	32,751	38,534
Interest expense	25,279	17,914	94,352	40,062
Management wages	8,463	6,561	35,026	21,306
Professional fees	23,629	7,471	67,996	17,239
Rent	13,177	12,363	41,827	29,091
TOTAL OPERATING EXPENSES	86,920	61,235	285,946	162,625
NET LOSS FROM OPERATIONS	(42,237)	(24,496)	(164,257)	(62,083)
OTHER COMPREHENSIVE INCOME
Foreign currency translation	(2,792)	0	6,466	11,492
COMPREHENSIVE LOSS	$ (45,029)	$ (24,496)	$ (157,791)	$ (50,591)
NET LOSS PER COMMON SHARE Basic and diluted	$ 0.00	$ 0.00	$ 0.00	$ 0.00
WEIGHTED AVERAGE OUTSTANDING SHARES Basic and diluted	66,937,845	64,137,845	66,937,845	64,137,845

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (164,257)	$ (62,083)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	13,994	16,393
Non-cash interest expense	72,072	21,861
Amortization of deferred lease incentive	(189)	(1,056)
Changes in operating assets and liabilities:
Amounts receivable	(1,504)	0
Inventory	142	0
Deposits	2,091	0
Accounts payable and accrued liabilities	23,239	5,617
Net cash used in operating activities	(54,412)	(19,268)
CASH FLOWS FROM FINANCING ACTIVITIES
Bank indebtedness	(13,621)	(2,592)
Advances from convertible debt	72,072	21,861
Proceeds from related parties	500	0
Net cash provided by financing activities	58,951	19,268
Effect of foreign exchange on cash	210	(768)
Net increase (decrease) in cash	4,749	(768)
CASH, BEGINNING OF PERIOD	19,218	20,043
CASH, END OF PERIOD	23,967	19,275
SUPPLEMENTAL DISCLOSURES
Interest paid	0	0
Income taxes paid	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Current Assets
Cash	$ 23,967	$ 19,218
Amounts receivable	1,504	0
Inventory	6,345	6,487
Total Current Assets	31,816	25,705
Non-Current Assets
Deposits	3,547	5,638
Property and equipment, net	129,271	146,358
TOTAL ASSETS	164,634	177,701
Current Liabilities
Bank indebtedness	0	13,621
Accounts payable	199,191	175,901
Accrued liabilities	2,274	2,325
Convertible notes payable	479,750	407,678
Current portion of deferred lease incentive	1,417	1,448
Due to related parties	466,183	474,981
Total Current Liabilities	1,148,815	1,075,954
Long Term Liabilities
Deferred lease incentive	7,083	7,241
TOTAL LIABILITIES	1,155,898	1,083,195
STOCKHOLDERS' DEFICIENCY
Common Stock 300,000,000 shares authorized, at $0.001 par value: 66,937,845 shares issued and outstanding	66,937	66,937
Additional Paid-In Capital	167,826	95,805
Accumulated Other Comprehensive Income	73,752	67,286
Accumulated Deficit	(1,299,779)	(1,135,522)
Total Stockholders' Deficiency	(991,264)	(905,494)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$ 164,634	$ 177,701