Capstone Systems Inc

CIK:0001651577|SEC Filings

Unaudited Condensed Consolidated Statement of Operations - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Unaudited Condensed Consolidated Statement Of Operations
Net revenues	$ 2,974	$ 14	$ 225,869	$ 33,547
Cost of revenues	8	2,565	821	32,122
Gross profit	2,966	(2,551)	225,048	1,425
Operating expenses:
Selling expense	719		719
General and administrative expenses	343,817	474,753	1,372,350	493,144
Total operating expenses	344,536	474,753	1,373,069	493,144
Operating loss	(341,570)	(477,304)	(1,148,021)	(491,719)
Other income (expenses):
Other income	68		180	2,089
Interest income	73	202	148	202
Interest expense	(121)		(174)
Total other income and (expenses)	20	202	154	2,291
Loss before taxes from operations	(341,550)	(477,102)	(1,147,867)	(489,428)
Provision for income taxes
Net loss	(341,550)	(477,102)	(1,147,867)	(489,428)
Other comprehensive income:
Foreign currency translation income	8,620	(8,525)	(9,293)	(9,795)
Comprehensive loss	$ (332,930)	$ (485,627)	$ (1,157,159)	$ (499,223)
Loss per share:
Basic and diluted loss per share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Basic and diluted weighted average shares outstanding	206,842,664	206,842,664	206,842,664	206,842,664

Unaudited Condensed Consolidated Statement of Cash Flows - USD ($)	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities
Net Loss	$ (1,147,867)	$ (489,428)
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization	6,290	43
Depreciation	4,895	292
Decrease/(increase) in accounts receivable	(145,424)
Decrease/(increase) in other receivables	177,449	(522,172)
Decrease/(increase) in related party receivables	1,206	(5,072)
Decrease/(increase) in inventory		(1,860)
Decrease/(increase) in advance to suppliers	(12,868)
Decrease/(increase) in prepaid expenses	(12,313)
Increase/(decrease) in accounts payable	61,074	3,602
Increase/(decrease) in taxes payable	107	(2,089)
Increase/(decrease) in other payable	9,512	152,496
Increase/(decrease) in related party payables	1,122,448	9,650
Increase/(decrease) in accrued liabilities	8,000
Increase/(decrease) in customer deposits	(21,733)
NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES	50,776	(854,538)
Cash Flows from Investing Activities
Purchase of Fixed Assets		(16,358)
Purchase of Intangible Assets	(72,618)	(2,551)
NET CASH USED IN INVESTING ACTIVITIES	(72,618)	(18,910)
Cash Flows from Financing Activities
Proceeds from issuance of common stock		960,348
NET CASH PROVIDED BY FINANCING ACTIVITIES		960,348
NET DECREASE IN CASH	(21,842)	86,900
EFFECT OF CURRENCY TRANSLATION	3,963	(9,794)
CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD	47,037	2,294
CASH AND CASH EQUIVALENTS – ENDING OF PERIOD	29,158	79,400
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes
Cash received for interest income	$ 148	$ 202

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Jun. 30, 2018
Current assets
Cash and cash equivalents	$ 29,158	$ 47,037
Accounts receivable	145,424
Other receivables	15,108	192,557
Related party receivable	3,780	4,986
Prepaid expenses	12,522	209
Advance to suppliers	28,476	15,608
Total current assets	234,468	260,397
Note receivable	72,712	75,539
Plant and equipment, net	29,880	35,629
Intangible asset, net	68,544	2,215
Total assets	405,604	373,780
Current liabilities
Accounts payable	76,731	15,658
Taxes payable	126	20
Other payable	41,608	32,095
Related party payable	1,157,880	35,432
Accrued liabilities	34,000	26,000
Customer deposits	283,868	305,600
Total current liabilities	1,594,213	414,805
Stockholders' deficiency
Common stock, $0.001 par value, 2,000,000,000 shares authorized, 206,842,664 shares issued and outstanding, respectively	206,843	206,843
Additional paid-in capital	1,582,086	1,582,086
Accumulated deficit	(2,968,245)	(1,820,378)
Accumulated other comprehensive loss	(9,293)	(9,576)
Total Stockholders’ Deficiency	(1,188,609)	(41,025)
Total Liabilities and Stockholders’ Deficiency	$ 405,604	$ 373,780