v3.19.3

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2017	Jun. 30, 2016
Current assets
Cash and cash equivalents	$ 360	$ 52,592
Prepaid and other current assets	16,850	156,340
Total current assets	17,210	208,932
Fixed assets
Land and land development cost	6,355,555	3,888,846
Office furniture and equipment	6,790	9,599
Total fixed assets	6,362,345	3,898,445
Total assets	6,379,555	4,107,377
Current liabilities
Accrual - bank overdraft	71,603
Accounts payable	166,440	155,538
Interest payable	372,609	185,509
Loan from officer	105,000
Short-term notes payable		38,846
Short-term related party debt	3,029,975	2,100,000
Total current liabilities	3,745,627	2,479,893
Non-current liabilities
Long-term related party debt	1,229,965	629,975
Long-term notes payable	1,500,000	1,050,000
Total non-current liabilities	2,729,965	1,679,975
Total liabilities	6,475,592	4,159,868
Stockholders' equity (deficit)
Preferred stock, $.0001 par value: 50,000,000 shares authorized; zero and zero shares issued and outstanding at June 30, 2017 and 2016, respectively
Common stock, $.0001 par value: 200,000,000 shares authorized; 71,159,423 shares and 71,159,423 shares issued and outstanding at June 30, 2017 and 2016, respectively	7,116	7,116
Additional paid-in capital	394,386	394,386
Accumulated deficit	(610,888)	(453,993)
Total Heavenstone Corp. stockholders' deficit		(52,491)
Non-controlling interest	113,349	0
Total stockholders' deficit	(96,037)	(52,491)
Total liabilities and stockholders' deficit	$ 6,379,555	$ 4,107,377

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

HEAVENSTONE CORP 10-K