Advances and Deposits	12 Months Ended
Jun. 30, 2021
Advances And Deposits
Advances and Deposits	Note 7 – Advances and Deposits Advances and deposits amounted to $30,976 and $3,972,500 as of June 30, 2021 and 2020, respectively. Advances are received from the customers for the sale of products in the normal course of business and adjusted against the payments due to them. The Company received advances from related party totaling $0 and $302,000 as of June 30, 2021 and 2020, respectively, for its working capital requirements (See Note 9). The June 30, 2020 balance for advances and deposits represent the proceeds from the sale of 13,899,000 common stock at the sale price range from $0.0002 to $2 per share, to 72 unrelated and 2 related parties. As these common shares were cancelled soon after issuance in the month of June 2020 due to legal non-compliance, the proceeds are reported as advances and deposits under current liabilities.

Advances and Deposits

12 Months Ended

Jun. 30, 2021

Note 7 – Advances and Deposits

Advances and deposits amounted to $30,976 and $3,972,500 as of June 30, 2021 and 2020, respectively. Advances are received from the customers for the sale of products in the normal course of business and adjusted against the payments due to them. The Company received advances from related party totaling $0 and $302,000 as of June 30, 2021 and 2020, respectively, for its working capital requirements (See Note 9). The June 30, 2020 balance for advances and deposits represent the proceeds from the sale of 13,899,000 common stock at the sale price range from $0.0002 to $2 per share, to 72 unrelated and 2 related parties. As these common shares were cancelled soon after issuance in the month of June 2020 due to legal non-compliance, the proceeds are reported as advances and deposits under current liabilities.

Shengda Network Technology, Inc. 10-K/A