Advanced Oxygen (AOXY) 10-K20 Aug 202020 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2020	Aug. 20, 2020	Dec. 31, 2019
Document And Entity Information
Entity Registrant Name	ADVANCED OXYGEN TECHNOLOGIES INC
Entity Central Index Key	0000352991
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	10-K
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity File Number	0-9951
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity Public Float			$ 76,283
Entity Common Stock, Shares Outstanding		3,292,945

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2020	Jun. 30, 2019
CURRENT ASSETS
Cash	$ 43,603	$ 43,098
Property tax receivable	1,202	1,213
Total Current Assets	44,805	44,311
FIXED ASSETS
Land	609,250	615,220
TOTAL ASSETS	654,055	659,531
CURRENT LIABILITIES
Accounts payable	0	225
Deferred revenue	3,150	0
Taxes payable	36,030	30,782
Notes payable, current portion	144,211	144,380
Advances from a related party	120,271	120,753
Total Current Liabilities	303,662	296,140
Long Term Liabilities
Notes payable	44,416	62,464
Total Long - Term Liabilities	44,416	62,464
Total Liabilities	348,078	358,604
STOCKHOLDERS' EQUITY-
Common stock, par value $0.01; At June 30, 2020 and June 30, 2019, authorized 60,000,000 shares; issued and outstanding 3,292,945 and 2,292,945 shares, respectively	32,929	22,929
Additional paid-in capital	21,057,116	20,953,991
Accumulated Other Comprehensive Income	43,226	48,198
Accumulated deficit	(20,827,344)	(20,724,241)
TOTAL STOCKHOLDERS' EQUITY	305,977	300,927
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	654,055	659,531
Convertible Preferred Stock, Series 2
STOCKHOLDERS' EQUITY-
Convertible preferred stock	50	50
Convertible Preferred Stock, Series 3
STOCKHOLDERS' EQUITY-
Convertible preferred stock
Convertible Preferred Stock, Series 5
STOCKHOLDERS' EQUITY-
Convertible preferred stock

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Jun. 30, 2019
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	60,000,000	60,000,000
Common Stock, shares issued	3,292,945	2,292,945
Common Stock, shares outstanding	3,292,945	2,292,945
Convertible Preferred Stock, Series 2
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	5,000	5,000
Preferred Stock, shares outstanding	5,000	5,000
Convertible Preferred Stock, Series 3
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, shares authorized	1,670,000	1,670,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Convertible Preferred Stock, Series 5
Preferred Stock, shares authorized	1	1
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Revenues
Net Sales	$ 43,154	$ 38,408
Total Revenues	43,154	38,408
Costs and Expenses
General & administrative	6,562	3,634
Professional expenses	15,600	15,600
Salary and wages	113,000
Total Operating Expenses	135,162	19,234
Income from operations before other income (expenses)	(92,008)	19,174
Other income (expenses)
Interest Expense	(3,290)	(4,182)
Income before Income Taxes	(95,298)	14,992
Income Taxes Expense	7,805	6,881
NET INCOME (Loss)	$ (103,103)	$ 8,111
Weighted Average number of common shares outstanding
Basic	3,063,437	2,292,945
Diluted	3,063,437	2,302,945
Basic earnings per Share	$ (0.034)	$ 0.003
Dilutive earnings per Share	$ (0.034)	$ 0.003
OTHER COMPREHENSIVE INCOME
Foreign Currency Translation Adjustments	$ (4,722)	$ (14,941)
Total Comprehensive Loss	(107,825)	(6,830)
Rent revenue [Member]
Revenues
Net Sales	37,280	38,408
Commission Revenue [Member]
Revenues
Net Sales	$ 5,874

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Preferred Stock Convertible Series 2	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Total
Beginning Balance, Shares at Jun. 30, 2018	5,000	2,292,945
Beginning Balance, Amount at Jun. 30, 2018	$ 50	$ 22,929	$ 20,953,991	$ (20,732,352)	$ 63,139	$ 307,757
Net Income				8,111		8,111
Foreign Currency Translation Adjustment					(14,941)	(14,941)
Ending Balance, Shares at Jun. 30, 2019	5,000	2,292,945
Ending Balance, Amount at Jun. 30, 2019	$ 50	$ 22,929	20,953,991	(20,724,241)	48,198	300,927
Stock-Based Compensation Shares		1,000,000
Stock-Based Compensation, Amount		$ 10,000	103,000			113,000
Net Income				(103,103)		(103,103)
Foreign Currency Translation Adjustment					(4,972)	(4,972)
Capital Investment in Subsidiary			125			125
Ending Balance, Shares at Jun. 30, 2020	5,000	3,292,945
Ending Balance, Amount at Jun. 30, 2020	$ 50	$ 32,929	$ 21,057,116	$ (20,827,344)	$ 43,226	$ 305,977

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net income (loss)	$ (103,103)	$ 8,111
Adjustments to reconcile net income to net cash:
Stock-based compensation	113,000
Expenses Paid on behalf of a related party	18,125	17,700
Accounts Payable	(225)	(525)
Deferred revenue	3,092
Taxes Payable	5,445	(8,400)
Prepaid Expenses	0	525
Net cash provided by operating activities	36,334	17,411
Cash flows from investing activities:
Capital investment in subsidiary	(125)
Net Cash provided by investing activities	(125)
Cash flow from financing activities:
Repayment of related party debt	(18,262)	(8,965)
Repayment of long term debt	(17,121)	(17,317)
Net cash used in financing activities	(35,383)	(26,282)
Change due to FX Translation	(321)	(1,446)
NET CHANGE IN CASH	505	(10,317)
Cash at beginning of year	43,098	53,415
Cash at end of year	43,603	43,098
Non Cash Investing and Financing Activities
Cash paid for Interest	$ 3,290	$ 4,182

ORGANIZATION AND LINE OF BUSINE

ORGANIZATION AND LINE OF BUSINESS	12 Months Ended
ORGANIZATION AND LINE OF BUSINESS	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 1 - ORGANIZATION AND LINE OF BUSINESS	NOTE 1 - ORGANIZATION AND LINE OF BUSINESS: Organization: Advanced Oxygen Technologies Inc, ("Advanced Oxygen Technologies", "AOXY", or the "Company"), was incorporated in Delaware in 1981 under the name Aquanautics Corporation and was, from 1985 until May 1995, a startup stage specialty materials company producing new oxygen control technologies. From May of 1995 through December of 1997 the Company had minimal operations and was seeking funding for operations and companies to which it could merge or acquire. In March of 1998 the Company began operations again in California. From 1998 through 2000, the business produced and sold CD- ROMS for conference events, advertisement sales on the CD's, database management and event marketing all associated with conference events. From 2000 through March of 2003, the business consisted solely of database management. From 2003 through April 2005, the business operations were derived totally from the Company's wholly owned business, IP Service, ApS, a Danish IP security vulnerability company ("IP Service"). Since then, business operations have been solely derived from its wholly owned subsidiaries Anton Nielsen Vojens, ApS ("ANV"), Sharx Inc. and its wholly owned subsidiary Sharx DK ApS (collectively “Sharx”). Lines of Business: Advanced Oxygen Technologies, Inc. operations are derived from its wholly owned subsidiaries Anton Nielsen Vojens, ApS ("ANV"), Sharx Inc. and its wholly owned subsidiary Sharx DK ApS (collectively “Sharx”). ANV is a Danish company that owns commercial real estate in Vojens, Denmark. ANV's revenues are derived solely from the lease revenue from its real estate. Circle K Denmark A/S, formerly StatOil A/S, leases the facility from ANV. The lease expires in 2026. Sharx Inc. is a Wyoming corporation incorporated in 2020 and operations are derived from its wholly owned subsidiary Sharx Dk ApS. Sharx DK ApS is a Danish company, incorporated in 2020. On June 30, 2020, Sharx DK ApS, entered into a Distribution Agreement (the “Distribution Agreement” Exhibit 10.1) with Cleaver ApS, a Danish corporation (“Cleaver ”), whereby Cleaver has appointed the Company as Cleaver’s nonexclusive distributor of its products in Europe, South America and North America. Cleaver is a manufacturer of a line of products for the logistics and cargo industry.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2020
Accounting Policies [Abstract]
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation: The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries (ANV and Sharx), after elimination of all intercompany accounts, transactions, and profits. Basis of Presentation: The consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP and are expressed in United States dollars. The Company’s fiscal year end is June 30. Revenue Recognition: Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) In preparation for adoption of the standard, we implemented internal controls and completed our impact assessment of implementing this guidance. We have evaluated each of the five steps in Topic 606, which are as follows: 1) identify the contract with the customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to the performance obligations; and 5) recognize revenue when (or as) performance obligations are satisfied. Rental Revenue Revenue was not affected materially in any period due to the adoption of ASC Topic 606 because: (1) we identified similar performance obligations under ASC Topic 606 as compared with deliverables and separate units of account previously identified; our performance obligation is to provide the land; (2) we determined the transaction price to be consistent; the lease agreement with the customer specifies the transaction price; and (3) we recorded revenue at the same point in time, upon delivery under both ASC Topic 605 and ASC Topic 606, as applicable under the terms of the contract with the customer. Additionally, the accounting for fulfillment costs or costs incurred to obtain a contract were not affected materially in any period due to the adoption of Topic 606. Lastly, disclosure requirements under the new guidance in Topic 606 have been significantly expanded in comparison to the disclosure requirements under the current guidance, including disclosures related to disaggregation of revenue into appropriate categories, performance obligations, the judgments made in revenue recognition determinations, adjustments to revenue which relate to activities from previous quarters or years, any significant reversals of revenue, and costs to obtain or fulfill contracts. The rental revenue is derived from the Commercial Property lease in which quarterly payments are received pursuant to the property lease which is in effect until 2026. (See Note 3 for further details) and from the sale of product pursuant to a non-exclusive distribution agreement. We recognize revenue when we have satisfied a performance obligation by transferring control over a product or delivering a service to a client. We measure revenue based upon the consideration set forth in an arrangement or contract with a client. We recognize revenue from these services when the services are completed. If we are paid in advance for these services, we record such payment as deferred revenue until we complete the services. As of June 30, 2020, the Company recorded $3,150 of deferred revenue in connection to rental revenues. Commission revenue The Company recognizes commission revenue based on the five criteria for revenue recognition established under Topic 606: 1) identify the contract, 2) identify separate performance obligations, 3) determine the transaction price, 4) allocate the transaction price among the performance obligations, and 5) recognize revenue as the performance obligations are satisfied as set forth below. The Company's source of commission revenue is from the Company’s subsidiary Sharx in which quarterly payments are received when the customer pre-pays or pays upon the date products are drop shipped from the manufacturer pursuant to a non-exclusive distribution agreement. At such time the products are drop shipped, the Company’s performance obligation has been satisfied and revenue is recorded The Company has determined that it is an agent of the manufacturer and collects commission revenue at or before the delivery of product (See Note 3 for further details). Property Plant and Equipment: Land is recognized at cost. Land is carried at cost less accumulated impairment losses. Foreign currency translation: Foreign currency transactions are translated applying the current rate method. Assets and liabilities are translated at current rates. Stockholders' equity accounts are translated at the appropriate historical rates and revenue and expenses are translated at weighted average rates for the year. Exchange rate differences that arise between the rate at the transaction date and the one in effect at the payment date, or at the balance sheet date, are recognized in the income statement. Income Taxes: The Company accounts for income taxes under the asset and liability method of accounting. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is required when it is less likely than not that the Company will be able to realize all or a portion of its deferred tax assets. Because it is doubtful that the net operating losses of recent years will ever be used, a valuation allowance has been recognized equal to the tax benefit of net operating losses generated. Earnings per Share: Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of June 30, 2020 and June 30, 2019 there were 10,000 and 10,000, potential dilutive shares that need to be considered as common share equivalents and because of the net loss, the effect of these potential common shares is anti-dilutive for twelve-months ended June 30, 2020 and dilutive for the twelve-months ended June 30, 2019. Cash and Cash Equivalents: For purposes of the statement of cash flows, the Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. The Company maintains its cash in bank deposit accounts which, at June 30, 2020 did not exceed federally insured limits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant credit risk on such amounts. Stock-Based Compensation: The Company records stock-based compensation in accordance with ASC 718, Compensation. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employees required service period, which is generally the vesting period. Estimates: The preparation of the condensed consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, as well as the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Concentrations of Credit Risk: Financial instruments that potentially subject the Company to major credit risk consist principally of a single subsidiary of Anton Nielsen Vojens ApS. ANV’s rent revenues are derived from one customer. The Company’s commission revenues are subject to concentration risk as the commission revenues are derived from one product, and one customer, but that should not be the case going forward. Leases: The company adopted ASU No. 2016-02, Leases (Topic 842), as of July 1, 2019, using the modified retrospective approach, which allows comparative periods not to be restated. In addition, the company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the company to carry forward the historical lease classification, not reassess whether any expired or existing contracts are or contain leases and not to reassess initial direct costs for any existing leases. The company also elected the hindsight expedient to determine the lease terms for existing leases. The election of the hindsight expedient did not have a significant impact on the calculation of the expected lease term. The Company leases land to a customer. The Company determines if an arrangement contains a lease at contract inception. An arrangement is or contains a lease if the agreement identifies an asset, implicitly or explicitly, that the Customer has the right to use over a period of time. If an arrangement contains a lease, the Company classifies the lease as either an operating lease or as a finance lease based on the five criteria defined in ASC 842. Lease liabilities are recognized at commencement date based on the present value of the remaining lease payments over the lease term. The corresponding right-of-use asset is recognized for the same amount as the lease liability adjusted for any payments made at or before the commencement date, any lease incentives received, and any initial direct costs. The Company’s lease agreements may include options to renew, extend or terminate the lease. These clauses are included in the initial measurement of the lease liability when at lease commencement the Company is reasonably certain that it will exercise such options. The discount rate used is the interest rate implicit in the lease or, if that cannot be readily determined, the Company's incremental borrowing rate. Operating lease expense is recognized on a straight-line basis over the lease term and presented within cost of sales on the Company’s consolidated statements of operations. Finance lease right-of-use assets are amortized on a straight-line basis over the shorter of the useful life of the asset or the lease term. Interest expense on the finance lease liability is recognized using the effective interest rate method and is presented within interest expense on the Company’s consolidated statements of operations and comprehensive income. Variable rent payments related to both operating and finance leases are expensed as incurred. The Company’s variable lease payments primarily consists of real estate taxes, maintenance and usage charges. The Company made an accounting policy election to combine lease and non-lease components. The Company has elected to exclude short-term leases from the recognition requirements of ASC 842. A lease is short-term if, at the commencement date, it has a term of less than or equal to one year. Lease expense related to short-term leases is recognized on a straight-line basis over the lease term. The adoption of the new standard did not materially impact consolidated net income and had no impact on cash flows. Recently Issued Accounting Standards In February 2016, the FASB issued ASU No. 2016-02 - Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either financing or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The standard is effective on January 1, 2019, however early adoption is permitted. effective January 1, 2019. On July 1, 2019 the Company adopted the requirements of Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2016-02 (Topic 842), Leases In January 2017, the FASB issued ASU No. 2017-01, Business Combinations: Clarifying the Definition of a Business. ASU No. 2017-01 most significantly revises guidance specific to the definition of a business related to accounting for acquisitions. Additionally, ASU No. 2017-01 also affects other areas of US GAAP, such as the definition of a business related to the consolidation of variable interest entities, the consolidation of a subsidiary or group of assets, components of an operating segment, and disposals of reporting units and the impact on goodwill. This ASU became effective for public entities for annual and interim periods beginning after December 15, 2017. The Company adopted this standard on January 1, 2018. The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements or related disclosures. In June 2018, the FASB issued ASU No. 2018-07. The ASU expands the scope of ASU No. 2018-07 to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should apply ASU No. 2018-07 to nonemployee awards except with respect to option pricing models and the attribution of cost (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). The amendments specify that ASU No. 2018-07 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. ASU No. 2018-07 is effective for fiscal years beginning after December 15, 2018, or July 1, 2019 for the Company, and interim periods within those fiscal years with early adoption permitted. The Company adopted the new standard as of July 1, 2019, and the new standard had no material impact on its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Compensation - Stock Compensation In August 2018, the FASB issued ASU 2018-13, “Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” ASU 2018-13 modifies the fair value measurements disclosures with the primary focus to improve effectiveness of disclosures in the notes to the financial statements that is most important to the users. The new guidance modifies the required disclosures related to the valuation techniques and inputs used, uncertainty in measurement, and changes in measurements applied. ASU 2018-13 will be effective for the Company for its fiscal year beginning after December 15, 2019 and each quarterly period thereafter. Early adoption is permitted. The Company is currently assessing the impact this new guidance may have on the Company’s consolidated financial statements and footnote disclosures. New Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements. Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Company's present or future financial statements.

REVENUE

REVENUE	12 Months Ended
REVENUE	Jun. 30, 2020
Revenue Abstract
NOTE 3 - REVENUE	NOTE 3 - REVENUE: The Company's subsidiary, Anton Nielsen Vojens, ApS has one customer who is a non-related party and leases property from the Company. Rent revenues related to the operating lease are recognized as incurred. The Company’s subsidiary Sharx DK ApS derived its commission revenues from the sales of cargo security product from one customer. The Company has determined that is an agent of the manufacturer and collects commission revenue at or before the delivery of product. The Company disaggregates revenues by revenue type and geographic location. See the below tables: Year Ended June 30, Revenue Type 2020 2019 Real Estate Renal $ 37,280 $ 38,408 Commission Revenues 5,874 — Total Sales by Revenue Type $ 43,154 $ 38,408 The Company’s derives revenues from 100% of foreign revenues. For the period ending June 30, 2020 and June 30, 2019 the major geographic concentrations were as follows: U.S.A. Sales Foreign Sales for the Year Ended June 30, for the Year Ended June 30, Revenue Type 2020 2019 2020 2019 Real Estate Rental Revenues $ — $ — $ 37,280 $ 38,408 Commission Revenues — — 5,874 — Total Sales by Geographic Location $ — $ — $ 43,154 $ 38,408

LAND

LAND	12 Months Ended
LAND	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
NOTE 4 - LAND	NOTE 4 - LAND: The Land owned by the Company's wholly owned subsidiary constitutes the largest asset of the Company. During the period ending June 30, 2020 the Company recorded a decrease in the carrying value of the Land of $5,970, due to the currency translation difference. The carrying value of the Land of the Company was as follows: Carrying Value of Land at June 30, 2020 2019 US Dollars $ 609,250 $ 615,220

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2020
Related Party Transactions [Abstract]
NOTE 5 - RELATED PARTY TRANSACTIONS	NOTE 5 - RELATED PARTY TRANSACTIONS: Crossfield, Inc., a company of which the CEO, Robert Wolfe is an officer and director, has made advances to the Company which are not collateralized, non-interest bearing, and payable upon demand; however, the Company did not expect to make payment within one year. At June 30, 2020 and 2019, the Company had a balance of $120,271 and $120,753 respectively. During the twelve-month period ended June 30, 2020 and 2019 expenses paid on behalf of the Company were $18,125 and $17,700 respectively. The Company repaid $18,262 of the advancement during the twelve months ending June 30, 2020.

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
NOTES PAYABLE	Jun. 30, 2020
Notes Payable [Abstract]
NOTE 6 - NOTES PAYABLE	NOTE 6 - NOTES PAYABLE: During 2006, the Company issued a promissory note (“Note”) for $650,000, payable to the Borkwood Development Ltd, a previous shareholder of the Company (“Seller”), payable and amortized monthly and carrying an interest at 5% per year. The Company has the right to prepay the note at any time with a notice of 14 days. To secure the payment of principal and interest the Sellers will receive a perfect lien and security interest in the Shares in the company ANV until the note with accrued interest is paid in full, and, 2) In the case that the Note has not been repaid within 12 months from the day of closing the Sellers have the right to convert the debt to common stock of Advanced Oxygen Technologies, Inc. in an amount of non-diluted shares calculated on the conversion Date, equal to the lesser of : a) Six hundred and Fifty thousand (650,000) or the Purchase Price minus the principal payments made by the buyer, whichever is greater, divided by the previous ten day closing price of AOXY as quoted on the national exchange, or b) Fifteen million shares, whichever is lesser. The Note has been extended until July 1, 2021, prior to period end and interest waived through the period ending June 30, 2020. Due to the extension, the note is not in default and therefore not convertible as of June 30, 2020. As of June 30, 2020, the unpaid balance was $127,029. The Company has a note payable with a bank ("Note B"). The original amount of Note B was kr 1,132,000 Danish Krone (kr). Note B is secured by the subsidiary's real estate, with a 2.00% interest rate and 3.5 years left on the term. The balance on the note as of June 30, 2020 was $61,599. During the period ended June 30, 2020, the Company paid $17,121, in principal payments and $3,275 in interest. Year Amount 2021 $ 144, 211 2022 18,762 2023 18,518 2024 7,136 Total $ 188,627 Less: Long-term portion of notes payable (44,416) Notes payable, current portion $ 188,627 The amounts stated reflect the Company's commitments in the currencies that those commitments were made and the amounts are an estimate of what the US dollar amount would be if the currency rates did not change going forward.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Jun. 30, 2020
Notes to Financial Statements
NOTE 7 - INCOME TAXES	NOTE 7 - INCOME TAXES: As of June 30, 2020, the Company had federal and state net operating loss carryforwards of approximately $20,724,241 of which approximately $380,000 may be utilized to offset future taxable income. Section 382 of the Internal Revenue Code imposes substantial restrictions on the utilization of net operating loss and tax credit carryforwards when a change in ownership occurs. No deferred tax debits have been recorded because it is considered unlikely that they will be realized. The loss carryforwards will expire during the fiscal years ended June 30 as follows: Year Amount 2020 $ 351,000 2021 29,000 Total $ 380,000 The overall effective tax rate differs from the federal statutory tax rate of 21% due to operating losses and other deferred assets not providing benefit for income tax purposes. A reconciliation of income tax expense at the federal statutory rate to income tax expense at the Company's effective rate is as follows at June 30, 2020 and 2019: 2020 2019 United States Statutory Income tax Rate 21 % 21 % Increase (Decrease) in rate on income subject to Danish income tax rates 1 % 1 % Decrease in rate resulting from Non-Deductible expenses — — Income Tax Expense 22 % 22 % The components of income tax expense (benefit) from continuing operations for the years ended June 30, 2020 and 2019 consisted of the following: Current Tax Expense 2020 2019 Danish Income Tax Expense (Benefit) $ 7,805 $ 6,881 Federal US Income Tax Expense (Benefit) Current — — Deferred — — Total Income Tax Expense $ 7,805 $ 6,881 Deferred income tax expense/(benefit) results primarily from the reversal of temporary timing differences between tax and financial statement income. The Company had deferred tax income tax assets as of June 30, 2020 and 2019 as follows: 2020 2019 Net operating loss carryforwards $ 4,349,913 $ 4,352,091 Valuation allowance (4,349,913 ) (4,352,091 ) Total net deferred tax assets $ — $ — The Company has maintained a full valuation allowance against the total deferred tax assets for all period due to the uncertainty of future utilization.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Jun. 30, 2020
Equity [Abstract]
NOTE 8 - SHAREHOLDERS' EQUITY	NOTE 8 - SHAREHOLDERS' EQUITY: Common Stock: Pursuant to a Certificate of Amendment to our Certificate of Incorporation filed with the State of Delaware and effective as of December 8, 2014, the Company (effected a reverse stock split of all the outstanding shares of our common stock at an exchange ratio of one for twenty (1:20) and changed the number our authorized shares of common stock, par value $0.01 per share, from 90,000,000 to 60,000,000 while maintaining the number of authorized shares of preferred stock, par value $0.01 per share, at 10,000,000. As a result, the 45,853,585 shares of common stock outstanding at December 7, 2014 had been reduced to 2,292,945 shares of common stock (taking into account the rounding up of fractional share interests). On September 23, 2019 the Company entered into a Stock Grant and Investment Agreement with Robert Wolfe, its CEO and a Director (“Wolfe”) whereby the Company has granted 1,000,000 shares (the “Shares”) of common stock of the Company, with a fair value of $113,000 based on a stock price of $0.11. The shares were issued for services rendered by Wolfe to the Company and which Shares are deemed irrevocably and fully earned and vested as of the date thereof. The Shares have been issued in reliance upon the exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. Preferred Stock: The Company is authorized to issue 10,000,000 shares of $0.01 par value of series 2 convertible preferred stock. The Company may issue any class of preferred shares in series. The board of directors has the authority to establish and designate series and to fix the number of shares included in each such series. Each Series 2 preferred share is convertible into two shares of common stock at the option of the holder. Series 2 Convertible Preferred Stock: Each Series 2 preferred share also includes one warrant to purchase two common shares for $5.00. The warrants are exercisable over a three-year period. In the event of the liquidation of the Company, holders of Series 2 preferred stock would be entitled to receive $5.00 per share, plus any unpaid dividends declared on the Series 2 preferred stock from the funds remaining after the Company's creditors, including directors, have been paid. There have been no dividends declared. There are 177,000 Series 2 Convertible Preferred shares designated. During November 1997, 172,000 shares of Series 2 preferred stock were converted into 344,000 shares of the Company's common stock. As of June 30, 2020 and 2019, there are 5,000 shares issued, which are convertible into 2 common shares. There are no warrants outstanding that have been issued in connection with these preferred shares. Series 3 Convertible Preferred Stock: The Company has designated 1,670,000 shares of series 3 convertible preferred stock with a par value $0.01. Each share automatically converts on March 2, 2000 into either (a) one (1) share of the Company's common stock if the average closing price of the common stock during the ten trading days immediately prior to March 1, 2000 is equal to or greater than sixty-six cents ($0.66) per share, or (b) one and one-half (1 1/2) shares of common stock if the average closing price of the common stock during the ten trading days immediately prior March 1, 2000 is less than sixty-six cents ($0.66) per share. There are zero shares issued and outstanding at June 30, 2020 and 2019. Series 5 Convertible Preferred Stock: The Company has designated 1 share of series 5 convertible preferred stock, no par value. There is 1 Series 5 Convertible Preferred shares designated. The shares are collectively convertible to common stock of the Company on March 5, 2004, in an amount equal to the greater of a.)290,000 shares divided by the ten day closing price, prior to the date of acquisition of IPS, of the Company's common stock as quoted on the national exchange and not to exceed twenty million shares, or b.) six million shares. There are zero shares issued and outstanding at June 30, 2020 and 2019.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	12 Months Ended
SEGMENT AND GEOGRAPHIC INFORMATION	Jun. 30, 2020
Segment Reporting [Abstract]
NOTE 9 - SEGMENT AND GEOGRAPHIC INFORMATION	NOTE 9 - Segment and Geographic Information Segment Performance We have three reporting segments: · The ANV lease segment which leases land in Denmark by long term leases. · The Sharx’s segment which generate commissions for the sale cargo security products. · The Corporate segment, Advanced Oxygen Technologies, Inc. which does not generate revenues, but has administrative expenses. The following table summarizes financial information regarding each reportable segment’s results of operations for the periods presented: Year Ended June 30, 2020 2019 Revenue by segment ANV lease revenues $ 37,280 $ 38,408 Sharx commission revenues from security product sales 5,874 — Corporate segment revenues — — Total revenue $ 43,154 $ 38,408 Segment profitability ANV lease revenues $ 23,089 $ 25,499 Sharx commission revenues from security product sales 4,457 — Corporate segment (130,649 ) (17,388 ) Total segment profitability $ (103,103 ) $ 8,111 The following table presents net sales, based on the location in which the sale originated, and long-lived assets, representing property, plant and equipment, net of related depreciation, by geographic region. All of the assets are land that are held by the Company’s subsidiary, ANV. Year Ending June 30: 2020 2019 Net Sales United States $ — $ — Denmark 43,154 38,408 Total $ 43,154 $ 38,408 Long-Lived Assets United States $ — $ — Denmark 609,250 615,220 Total $ 609,250 $ 615,220 Year Ended June 30, 2020 ANV Sharx Corporate Total Net sales $ 37,280 $ 5,874 $ — $ 43,154 Operating income (loss) 32,894 5,747 (130,649 ) (92,008 ) Interest expense 743 — — 743 Depreciation and amortization — — — — Total assets $ 646,425 $ 7,480 $ 150 $ 654,055 Year Ended June 30, 2019 ANV Sharx Corporate Total Net sales $ 38,408 $ — $ — $ 38,408 Operating (loss) income 36,874 — (17,700 ) 19,174 Interest expense 4,182 — — 4,182 Depreciation and amortization — — — — Total assets $ 659,381 $ — $ 150 $ 659,531

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2020
Subsequent Events [Abstract]
NOTE 10 - SUBSEQUENT EVENTS	NOTE 10 -SUBSEQUENT EVENTS: In accordance with ASC 855-10, Company management reviewed all material events through the date of this report.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation: The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries (ANV and Sharx), after elimination of all intercompany accounts, transactions, and profits.
Basis of Presentation	Basis of Presentation: The consolidated financial statements of the Company have been prepared in accordance with U.S. GAAP and are expressed in United States dollars. The Company’s fiscal year end is June 30.
Revenue Recognition	Revenue Recognition: Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) In preparation for adoption of the standard, we implemented internal controls and completed our impact assessment of implementing this guidance. We have evaluated each of the five steps in Topic 606, which are as follows: 1) identify the contract with the customer; 2) identify the performance obligations in the contract; 3) determine the transaction price; 4) allocate the transaction price to the performance obligations; and 5) recognize revenue when (or as) performance obligations are satisfied. Rental Revenue Revenue was not affected materially in any period due to the adoption of ASC Topic 606 because: (1) we identified similar performance obligations under ASC Topic 606 as compared with deliverables and separate units of account previously identified; our performance obligation is to provide the land; (2) we determined the transaction price to be consistent; the lease agreement with the customer specifies the transaction price; and (3) we recorded revenue at the same point in time, upon delivery under both ASC Topic 605 and ASC Topic 606, as applicable under the terms of the contract with the customer. Additionally, the accounting for fulfillment costs or costs incurred to obtain a contract were not affected materially in any period due to the adoption of Topic 606. Lastly, disclosure requirements under the new guidance in Topic 606 have been significantly expanded in comparison to the disclosure requirements under the current guidance, including disclosures related to disaggregation of revenue into appropriate categories, performance obligations, the judgments made in revenue recognition determinations, adjustments to revenue which relate to activities from previous quarters or years, any significant reversals of revenue, and costs to obtain or fulfill contracts. The rental revenue is derived from the Commercial Property lease in which quarterly payments are received pursuant to the property lease which is in effect until 2026. (See Note 3 for further details) and from the sale of product pursuant to a non-exclusive distribution agreement. We recognize revenue when we have satisfied a performance obligation by transferring control over a product or delivering a service to a client. We measure revenue based upon the consideration set forth in an arrangement or contract with a client. We recognize revenue from these services when the services are completed. If we are paid in advance for these services, we record such payment as deferred revenue until we complete the services. As of June 30, 2020, the Company recorded $3,150 of deferred revenue in connection to rental revenues. Commission revenue The Company recognizes commission revenue based on the five criteria for revenue recognition established under Topic 606: 1) identify the contract, 2) identify separate performance obligations, 3) determine the transaction price, 4) allocate the transaction price among the performance obligations, and 5) recognize revenue as the performance obligations are satisfied as set forth below. The Company's source of commission revenue is from the Company’s subsidiary Sharx in which quarterly payments are received when the customer pre-pays or pays upon the date products are drop shipped from the manufacturer pursuant to a non-exclusive distribution agreement. At such time the products are drop shipped, the Company’s performance obligation has been satisfied and revenue is recorded The Company has determined that it is an agent of the manufacturer and collects commission revenue at or before the delivery of product (See Note 3 for further details).
Property Plant and Equipment	Property Plant and Equipment: Land is recognized at cost. Land is carried at cost less accumulated impairment losses.
Foreign currency translation	Foreign currency translation: Foreign currency transactions are translated applying the current rate method. Assets and liabilities are translated at current rates. Stockholders' equity accounts are translated at the appropriate historical rates and revenue and expenses are translated at weighted average rates for the year. Exchange rate differences that arise between the rate at the transaction date and the one in effect at the payment date, or at the balance sheet date, are recognized in the income statement.
Income Taxes	Income Taxes: The Company accounts for income taxes under the asset and liability method of accounting. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is required when it is less likely than not that the Company will be able to realize all or a portion of its deferred tax assets. Because it is doubtful that the net operating losses of recent years will ever be used, a valuation allowance has been recognized equal to the tax benefit of net operating losses generated.
Earnings per Share	Earnings per Share: Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of June 30, 2020 and June 30, 2019 there were 10,000 and 10,000, potential dilutive shares that need to be considered as common share equivalents and because of the net loss, the effect of these potential common shares is anti-dilutive for twelve-months ended June 30, 2020 and dilutive for the twelve-months ended June 30, 2019.
Cash and Cash Equivalents	Cash and Cash Equivalents: For purposes of the statement of cash flows, the Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents. The Company maintains its cash in bank deposit accounts which, at June 30, 2020 did not exceed federally insured limits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant credit risk on such amounts.
Stock-Based Compensation	Stock-Based Compensation: The Company records stock-based compensation in accordance with ASC 718, Compensation. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Equity instruments issued to employees and the cost of the services received as consideration are measured and recognized based on the fair value of the equity instruments issued and are recognized over the employees required service period, which is generally the vesting period.
Estimates	Estimates: The preparation of the condensed consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, as well as the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates.
Concentrations of Credit Risk	Concentrations of Credit Risk: Financial instruments that potentially subject the Company to major credit risk consist principally of a single subsidiary of Anton Nielsen Vojens ApS. ANV’s rent revenues are derived from one customer. The Company’s commission revenues are subject to concentration risk as the commission revenues are derived from one product, and one customer, but that should not be the case going forward.
Leases	Leases: The company adopted ASU No. 2016-02, Leases (Topic 842), as of July 1, 2019, using the modified retrospective approach, which allows comparative periods not to be restated. In addition, the company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed the company to carry forward the historical lease classification, not reassess whether any expired or existing contracts are or contain leases and not to reassess initial direct costs for any existing leases. The company also elected the hindsight expedient to determine the lease terms for existing leases. The election of the hindsight expedient did not have a significant impact on the calculation of the expected lease term. The Company leases land to a customer. The Company determines if an arrangement contains a lease at contract inception. An arrangement is or contains a lease if the agreement identifies an asset, implicitly or explicitly, that the Customer has the right to use over a period of time. If an arrangement contains a lease, the Company classifies the lease as either an operating lease or as a finance lease based on the five criteria defined in ASC 842. Lease liabilities are recognized at commencement date based on the present value of the remaining lease payments over the lease term. The corresponding right-of-use asset is recognized for the same amount as the lease liability adjusted for any payments made at or before the commencement date, any lease incentives received, and any initial direct costs. The Company’s lease agreements may include options to renew, extend or terminate the lease. These clauses are included in the initial measurement of the lease liability when at lease commencement the Company is reasonably certain that it will exercise such options. The discount rate used is the interest rate implicit in the lease or, if that cannot be readily determined, the Company's incremental borrowing rate. Operating lease expense is recognized on a straight-line basis over the lease term and presented within cost of sales on the Company’s consolidated statements of operations. Finance lease right-of-use assets are amortized on a straight-line basis over the shorter of the useful life of the asset or the lease term. Interest expense on the finance lease liability is recognized using the effective interest rate method and is presented within interest expense on the Company’s consolidated statements of operations and comprehensive income. Variable rent payments related to both operating and finance leases are expensed as incurred. The Company’s variable lease payments primarily consists of real estate taxes, maintenance and usage charges. The Company made an accounting policy election to combine lease and non-lease components. The Company has elected to exclude short-term leases from the recognition requirements of ASC 842. A lease is short-term if, at the commencement date, it has a term of less than or equal to one year. Lease expense related to short-term leases is recognized on a straight-line basis over the lease term. The adoption of the new standard did not materially impact consolidated net income and had no impact on cash flows.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In February 2016, the FASB issued ASU No. 2016-02 - Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either financing or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The standard is effective on January 1, 2019, however early adoption is permitted. effective January 1, 2019. On July 1, 2019 the Company adopted the requirements of Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2016-02 (Topic 842), Leases In January 2017, the FASB issued ASU No. 2017-01, Business Combinations: Clarifying the Definition of a Business. ASU No. 2017-01 most significantly revises guidance specific to the definition of a business related to accounting for acquisitions. Additionally, ASU No. 2017-01 also affects other areas of US GAAP, such as the definition of a business related to the consolidation of variable interest entities, the consolidation of a subsidiary or group of assets, components of an operating segment, and disposals of reporting units and the impact on goodwill. This ASU became effective for public entities for annual and interim periods beginning after December 15, 2017. The Company adopted this standard on January 1, 2018. The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements or related disclosures. In June 2018, the FASB issued ASU No. 2018-07. The ASU expands the scope of ASU No. 2018-07 to include share-based payment transactions for acquiring goods and services from nonemployees. An entity should apply ASU No. 2018-07 to nonemployee awards except with respect to option pricing models and the attribution of cost (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). The amendments specify that ASU No. 2018-07 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. ASU No. 2018-07 is effective for fiscal years beginning after December 15, 2018, or July 1, 2019 for the Company, and interim periods within those fiscal years with early adoption permitted. The Company adopted the new standard as of July 1, 2019, and the new standard had no material impact on its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Compensation - Stock Compensation In August 2018, the FASB issued ASU 2018-13, “Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” ASU 2018-13 modifies the fair value measurements disclosures with the primary focus to improve effectiveness of disclosures in the notes to the financial statements that is most important to the users. The new guidance modifies the required disclosures related to the valuation techniques and inputs used, uncertainty in measurement, and changes in measurements applied. ASU 2018-13 will be effective for the Company for its fiscal year beginning after December 15, 2019 and each quarterly period thereafter. Early adoption is permitted. The Company is currently assessing the impact this new guidance may have on the Company’s consolidated financial statements and footnote disclosures. New Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements. Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Company's present or future financial statements.

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
REVENUE (Tables)	Jun. 30, 2020
Revenue Abstract
Schedules of major customer concentrations	The Company disaggregates revenues by revenue type and geographic location. See the below tables: Year Ended June 30, Revenue Type 2020 2019 Real Estate Renal $ 37,280 $ 38,408 Commission Revenues 5,874 — Total Sales by Revenue Type $ 43,154 $ 38,408 The Company’s derives revenues from 100% of foreign revenues. For the period ending June 30, 2020 and June 30, 2019 the major geographic concentrations were as follows: U.S.A. Sales Foreign Sales for the Year Ended June 30, for the Year Ended June 30, Revenue Type 2020 2019 2020 2019 Real Estate Rental Revenues $ — $ — $ 37,280 $ 38,408 Commission Revenues — — 5,874 — Total Sales by Geographic Location $ — $ — $ 43,154 $ 38,408

LAND (Tables)

LAND (Tables)	12 Months Ended
LAND (Tables)	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of value of land	The carrying value of the Land of the Company was as follows: Carrying Value of Land at June 30, 2020 2019 US Dollars $ 609,250 $ 615,220

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
NOTES PAYABLE (Tables)	Jun. 30, 2020
Notes Payable [Abstract]
Schedule of commitments and contingencies obligations	The amounts stated reflect the Company’s commitments in the currencies that those commitments were made and the amounts are an estimate of what the US dollar amount would be if the currency rates did not change. Year Amount 2021 $ 144, 211 2022 18,762 2023 18,518 2024 7,136 Total $ 188,627 Less: Long-term portion of notes payable (44,416) Notes payable, current portion $ 188,627

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Jun. 30, 2020
Purchase price of warrant
Summary of operating loss carryforwards	No deferred tax debits have been recorded because it is considered unlikely that they will be realized. The loss carryforwards will expire during the fiscal years ended June 30 as follows: Year Amount 2020 $ 351,000 2021 29,000 Total $ 380,000
Summary of reconciliation of income tax expense rate	A reconciliation of income tax expense at the federal statutory rate to income tax expense at the Company's effective rate is as follows at June 30, 2020 and 2019: 2020 2019 United States Statutory Income tax Rate 21 % 21 % Increase (Decrease) in rate on income subject to Danish income tax rates 1 % 1 % Decrease in rate resulting from Non-Deductible expenses — — Income Tax Expense 22 % 22 %
Summary of components of income tax expense	The components of income tax expense (benefit) from continuing operations for the years ended June 30, 2020 and 2019 consisted of the following: Current Tax Expense 2020 2019 Danish Income Tax Expense (Benefit) $ 7,805 $ 6,881 Federal US Income Tax Expense (Benefit) Current — — Deferred — — Total Income Tax Expense $ 7,805 $ 6,881
Summary of deferred tax income tax assets	The Company had deferred tax income tax assets as of June 30, 2020 and 2019 as follows: 2020 2019 Net operating loss carryforwards $ 4,349,913 $ 4,352,091 Valuation allowance (4,349,913 ) (4,352,091 ) Total net deferred tax assets $ — $ —

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The following table summarizes financial information regarding each reportable segment’s results of operations for the periods presented: Year Ended June 30, 2020 2019 Revenue by segment ANV lease revenues $ 37,280 $ 38,408 Sharx commission revenues from security product sales 5,874 — Corporate segment revenues — — Total revenue $ 43,154 $ 38,408 Segment profitability ANV lease revenues $ 23,089 $ 25,499 Sharx commission revenues from security product sales 4,457 — Corporate segment (130,649 ) (17,388 ) Total segment profitability $ (103,103 ) $ 8,111 The following table presents net sales, based on the location in which the sale originated, and long-lived assets, representing property, plant and equipment, net of related depreciation, by geographic region. All of the assets are land that are held by the Company’s subsidiary, ANV. Year Ending June 30: 2020 2019 Net Sales United States $ — $ — Denmark 43,154 38,408 Total $ 43,154 $ 38,408 Long-Lived Assets United States $ — $ — Denmark 609,250 615,220 Total $ 609,250 $ 615,220 Year Ended June 30, 2020 ANV Sharx Corporate Total Net sales $ 37,280 $ 5,874 $ — $ 43,154 Operating income (loss) 32,894 5,747 (130,649 ) (92,008 ) Interest expense 743 — — 743 Depreciation and amortization — — — — Total assets $ 646,425 $ 7,480 $ 150 $ 654,055 Year Ended June 30, 2019 ANV Sharx Corporate Total Net sales $ 38,408 $ — $ — $ 38,408 Operating (loss) income 36,874 — (17,700 ) 19,174 Interest expense 4,182 — — 4,182 Depreciation and amortization — — — — Total assets $ 659,381 $ — $ 150 $ 659,531

ORGANIZATION AND LINE OF BUSI_2

ORGANIZATION AND LINE OF BUSINESS (Details Narrative)	12 Months Ended
ORGANIZATION AND LINE OF BUSINESS (Details Narrative)	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Entity Incorporation, State Country Code	DE
Year of incorporation	1981

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Potential dilutive shares	10,000	10,000
Deferred revenue	$ 3,150	$ 0

REVENUE (Details)

REVENUE (Details) - USD ($)	12 Months Ended
REVENUE (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Revenues	$ 43,154	$ 38,408
U.S.A. Sales
Revenues
Foreign Sales
Revenues	43,154	38,408
Real Estate Renal [Member]
Revenues	37,280	38,408
Real Estate Renal [Member] \| U.S.A. Sales
Revenues
Real Estate Renal [Member] \| Foreign Sales
Revenues	37,280	38,408
Commission Revenue [Member]
Revenues	5,874
Commission Revenue [Member] \| U.S.A. Sales
Revenues
Commission Revenue [Member] \| Foreign Sales
Revenues	$ 5,874

LAND (Details)

LAND (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
US Dollars	$ 609,250	$ 615,220

LAND (Details Narrative)

LAND (Details Narrative)	12 Months Ended
LAND (Details Narrative)	Jun. 30, 2020USD ($)
Property, Plant and Equipment [Abstract]
Increase in carrying value of land	$ 5,970

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Advances From a Related Party	$ 120,271	$ 120,753
Expenses Paid on behalf of a related party	18,125	17,700
Affiliates And Officers [Member]
Advances From a Related Party	120,271	120,753
Expenses Paid on behalf of a related party	18,125	$ 17,700
Repayment of related party	$ 18,262

NOTES PAYABLE (Details)

NOTES PAYABLE (Details)	Jun. 30, 2020USD ($)
Notes Payable [Abstract]
2021	$ 144,211
2022	18,762
2023	18,518
2024	7,136
Total	188,627
Less: Long-term portion of notes payable	(44,416)
Notes payable, current portion	$ 188,627

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	12 Months Ended
NOTES PAYABLE (Details Narrative) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Notes Payable	$ 127,029	$ 127,029
Commitments and contingencies [Member]
2020	144,211
2020 through 2024	188,627
Borkwood Development Ltd [Member]
Notes Payable	$ 650,000
Interest rate on notes payable	5.00%
Notes payable description	The Company has the right to prepay the note at any time with a notice of 14 days. To secure the payment of principal and interest the Sellers will receive a perfect lien and security interest in the Shares in the company ANV until the note with accrued interest is paid in full, and, 2) In the case that the Note has not been repaid within 12 months from the day of closing the Sellers have the right to convert the debt to common stock of Advanced Oxygen Technologies, Inc. in an amount of non-diluted shares calculated on the conversion Date, equal to the lesser of : a) Six hundred and Fifty thousand (650,000) or the Purchase Price minus the principal payments made by the buyer, whichever is greater, divided by the previous ten day closing price of AOXY as quoted on the national exchange, or b) Fifteen million shares, whichever is lesser.
Note B [Member]
Notes Payable	$ 61,599
Principal payments	17,121
Interest payments	3,275
Note B [Member] \| Danish Krone [Member]
Notes Payable	$ 1,132,000
Interest rate on notes payable	2.00%
Notes payable description	3.5 years left on the term.

INCOME TAXES (Details)

INCOME TAXES (Details)	Jun. 30, 2020USD ($)
Operating loss carryforwards	$ 380,000
Two Thousand Twenty [Member]
Operating loss carryforwards	351,000
Two Thousand Twenty One [Member]
Operating loss carryforwards	$ 29,000

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
INCOME TAXES (Details 1)	Jun. 30, 2020	Jun. 30, 2019
Preferred shares designated
United States Statutory Income tax Rate	21.00%	21.00%
Increase (Decrease) in rate on income subject to Danish income tax rates	1.00%	1.00%
Decrease in rate resulting from Non-Deductible expenses
Income Tax Expense	22.00%	22.00%

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	12 Months Ended
INCOME TAXES (Details 2) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Current Tax Expense
Danish Income Tax Expense (Benefit)	$ 7,805	$ 6,881
Federal US Income Tax Expense (Benefit)
Current
Deferred
Total Income Tax Expense	$ 7,805	$ 6,881

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Income Taxes Details 2Abstract
Net operating loss carryforwards	$ 4,349,913	$ 4,352,091
Valuation allowance	(4,349,913)	(4,352,091)
Total net deferred tax assets

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
INCOME TAXES (Details Narrative) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Income Taxes (Textual)
Federal and state net operating loss carryforwards	$ 20,724,241
Offset future taxable income	$ 380,000
Federal statutory tax rate	21.00%	21.00%

SHAREHOLDERS' EQUITY (Details N

SHAREHOLDERS' EQUITY (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended	13 Months Ended
SHAREHOLDERS' EQUITY (Details Narrative) - USD ($)	Nov. 30, 1997	Jun. 30, 2020	Sep. 23, 2020	Sep. 23, 2019	Jun. 30, 2019	Dec. 08, 2014	Dec. 07, 2014
Common Stock, par value		$ 0.01			$ 0.01
Common Stock, shares authorized		60,000,000			60,000,000
Common Stock, shares outstanding		3,292,945			2,292,945
Common Stock
Common Stock exchange ratio		one for twenty (1:20)
Common Stock, par value		$ 0.01				$ 0.01	$ 0.01
Common Stock, shares authorized		10,000,000				60,000,000	90,000,000
Common Stock, shares outstanding							45,853,585
Reduction of common stock, shares							2,292,945
Preferred Stock [Member]
Preferred Stock, par value		$ 0.01
Preferred Stock, shares authorized		10,000,000
Series 2 Convertible Preferred Stock [Member]
Preferred Stock, shares issued		5,000			5,000
Convertible common stock		2			2
Purchase price of warrant		$ 5
Discription of warrants exercisable		3 years
Preferred Stock, shares	172,000
Preferred Stock converted into common stock, shares	344,000
Preferred shares designated		177,000
Series 3 Convertible Preferred Stock [Member]
Preferred Stock, shares issued		0			0
Preferred Stock, shares outstanding		0			0
Preferred Stock, par value		$ 0.01
Conversion description		Each share automatically converts on March 2, 2000 into either (a) one (1) share of the Company's common stock if the average closing price of the common stock during the ten trading days immediately prior to March 1, 2000 is equal to or greater than sixty-six cents ($0.66) per share, or (b) one and one-half (1 1/2) shares of common stock if the average closing price of the common stock during the ten trading days immediately prior March 1, 2000 is less than sixty-six cents ($0.66) per share.
Preferred shares designated		1,670,000
Series 5 Convertible Preferred Stock [Member]
Preferred Stock, shares issued		0			0
Preferred Stock, shares outstanding		0			0
Conversion description		The shares are collectively convertible to common stock of the Company on March 5, 2004, in an amount equal to the greater of a.) 290,000 shares divided by the ten day closing price, prior to the date of acquisition of IPS, of the Company's common stock as quoted on the national exchange and not to exceed twenty million shares, or b.) six million shares.
Preferred shares designated					1
Common Stock \| Robert Wolfe [Member]
Common stock granted			1,000,000
Share Price				$ 0.11
Fair value of stock			$ 113,000

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($)	12 Months Ended
SEGMENT AND GEOGRAPHIC INFORMATION (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Net sales	$ 43,154	$ 38,408
Net income loss	(103,103)	8,111
ANV
Net sales	37,280	38,408
Net income loss	23,089	25,499
Sharx
Net sales	5,874
Net income loss	4,457
Corporate
Net sales
Net income loss	$ (130,649)	$ (17,388)

SEGMENT AND GEOGRAPHIC INFORM_4

SEGMENT AND GEOGRAPHIC INFORMATION (Details 1) - USD ($)	12 Months Ended
SEGMENT AND GEOGRAPHIC INFORMATION (Details 1) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Net sales	$ 43,154	$ 38,408
Long-Lived Assets	609,250	615,220
UNITED STATES
Net sales
Long-Lived Assets
DENMARK
Net sales	43,154	38,408
Long-Lived Assets	$ 609,250	$ 615,220

SEGMENT AND GEOGRAPHIC INFORM_5

SEGMENT AND GEOGRAPHIC INFORMATION (Details 2) - USD ($)	12 Months Ended
SEGMENT AND GEOGRAPHIC INFORMATION (Details 2) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Net sales	$ 43,154	$ 38,408
Operating (loss) income	(92,008)	19,174
Interest expense	743	4,182
Depreciation and amortization
Total assets	654,055	659,531
ANV
Net sales	37,280	38,408
Operating (loss) income	32,894	36,874
Interest expense	743	4,182
Depreciation and amortization
Total assets	646,425	659,381
Sharx
Net sales	5,874
Operating (loss) income	5,747
Interest expense
Depreciation and amortization
Total assets	7,480
Corporate
Net sales
Operating (loss) income	(130,649)	(17,700)
Interest expense
Depreciation and amortization
Total assets	$ 150	$ 150