Cover
Cover - shares | 3 Months Ended | |
Jul. 31, 2022 | Sep. 30, 2022 | |
Cover [Abstract] | ||
Entity Registrant Name | PREVENTION INSURANCE.COM | |
Entity Central Index Key | 0001134982 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --04-30 | |
Entity Small Business | true | |
Entity Shell Company | true | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Jul. 31, 2022 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Entity Common Stock Shares Outstanding | 7,642,210 | |
Document Quarterly Report | true | |
Entity File Number | 000-32389 | |
Entity Incorporation State Country Code | NV | |
Entity Tax Identification Number | 88-0126444 | |
Entity Interactive Data Current | Yes | |
Entity Address Address Line 1 | 552 Lonsdale Street | |
Entity Address City Or Town | Melbourne | |
Entity Address Country | AU | |
Entity Address Postal Zip Code | 3000 | |
City Area Code | 61 | |
Local Phone Number | 3 8393 1459 | |
Document Transition Report | false |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) | Jul. 31, 2022 | Apr. 30, 2022 |
Current Assets | ||
Cash | $ 3,467 | $ 5,161 |
Total Current Assets | 3,467 | 5,161 |
Other Assets | ||
Marketable security | 100 | 100 |
Total Assets | 3,567 | 5,261 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 37,290 | 30,914 |
Due to related parties | 122,302 | 122,302 |
Total Current Liabilities | 159,592 | 153,216 |
Total Liabilities | 159,592 | 153,216 |
Stockholders' Deficit | ||
Preferred Stock, $0.0001 par value, 50,000,000 and 10,000,000 authorized, respectively: none issued | 0 | 0 |
Common Stock, $0.0001 par value, 500,000,000 and 500,000,000 shares authorized, respectively: 7,642,211 shares issued and 7,642,210 shares outstanding | 764 | 764 |
Additional paid in capital | 5,050,769 | 5,050,769 |
Treasury stock, 1 share, at cost | (52,954) | (52,954) |
Accumulated deficit | (5,154,604) | (5,146,534) |
Total Stockholders' Deficit | (156,025) | (147,955) |
Total Liabilities and Stockholders' Deficit | $ 3,567 | $ 5,261 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jul. 31, 2022 | Apr. 30, 2022 |
Stockholders' Deficit | ||
Preferred stock, shares par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 50,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 7,642,211 | 7,642,211 |
Common stock, shares outstanding | 7,642,210 | 7,642,210 |
Treasury stock, shares | 1 | 1 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||
REVENUE | $ 0 | $ 0 |
General and administrative expenses | 8,070 | 10,679 |
OPERATING LOSS | (8,070) | (10,679) |
NET LOSS | $ (8,070) | $ (10,679) |
Net Loss per Common Share: Basic and Diluted | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding: Basic and Diluted | 7,642,210 | 7,642,210 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIT (UNAUDITED) - USD ($) | Total | Common Shares [Member] | Preferred Stock [Member] | Additional Paid-In Capital [Member] | Treasury Stock [Member] | Accumulated Deficit [Member] |
Balance, shares at Apr. 30, 2021 | 7,642,211 | |||||
Balance, amount at Apr. 30, 2021 | $ (91,960) | $ 764 | $ 0 | $ 5,050,769 | $ (52,954) | $ (5,090,539) |
Net loss for the period | (10,679) | $ 0 | 0 | 0 | 0 | (10,679) |
Balance, shares at Jul. 31, 2021 | 7,642,211 | |||||
Balance, amount at Jul. 31, 2021 | (102,639) | $ 764 | 0 | 5,050,769 | (52,954) | (5,101,218) |
Balance, shares at Apr. 30, 2022 | 7,642,211 | |||||
Balance, amount at Apr. 30, 2022 | (147,955) | $ 764 | 0 | 5,050,769 | (52,954) | (5,146,534) |
Net loss for the period | (8,070) | $ 0 | 0 | 0 | 0 | (8,070) |
Balance, shares at Jul. 31, 2022 | 7,642,211 | |||||
Balance, amount at Jul. 31, 2022 | $ (156,025) | $ 764 | $ 0 | $ 5,050,769 | $ (52,954) | $ (5,154,604) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 3 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Cash Flows from Operating Activities: | ||
Net Loss | $ (8,070) | $ (10,679) |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | 6,376 | (500) |
Net Cash Used in Operating Activities | (1,694) | (11,179) |
Cash Flows from Financing Activities: | ||
Proceeds from loans - related parties | 0 | 31,000 |
Net Cash Provided by Financing Activities | 0 | 31,000 |
Net Change in Cash: | (1,694) | 19,821 |
Cash and cash equivalents, beginning of period | 5,161 | 342 |
Cash and cash equivalents, end of period | 3,467 | 20,163 |
Supplemental Disclosures of Cash Flow Information: | ||
Income taxes paid | 0 | 0 |
Interest paid | $ 0 | $ 0 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION | 3 Months Ended |
Jul. 31, 2022 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION | |
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Nature of Business Prevention Insurance.Com (the” Company”) was incorporated under the laws of the State of Nevada in 1975 as Vita Plus Industries, Inc. In March 1999, the Company sold its remaining inventory and changed its name to Prevention Insurance.Com. The Company’s business is to pursue a business combination through acquisition, or merger with, an existing company. No assurances can be given that the Company will be successful in locating or negotiating with any target company. On May 5, 2022, the Company amended its Articles of Incorporation by filing a Certificate of Amendment with the Nevada Secretary of State which; (a). Increased the authorized shares of common stock of the Company, par value $0.0001, from 200,000,000 shares to 500,000,000 shares, and (b). Increased the authorized shares of preferred stock of the Company, par value $0.0001, from 10,000,000 shares to 50,000,000 shares and all such shares be deemed “blank check” preferred shares in accordance with Article Seventeen of the Company’s Amended and Restated Articles of Incorporation (filed with the Nevada Secretary of State on or about February 20, 2001); (collectively, the corporate actions provided in paragraphs (a) and (b) are hereby referred to as the “ Corporate Actions The Corporate Actions were adopted at a meeting of our Board of Directors on February 28, 2022, and the Board of Directors recommended that the Corporate Actions be presented to our shareholders for approval. The record date of the Corporate Actions was March 1, 2022, whereby our majority stockholder, holding 85% of our outstanding voting securities, executed written consent approving Corporate Actions. Basis of Presentation The summary of significant accounting policies is presented to assist in the understanding of the financial statements. These policies conform to accounting principles generally accepted in the United States of America (“GAAP”) and have been consistently applied. Consolidated Financial Statements These consolidated statements include the financial statements of the Company and its subsidiary company, Paramount Capital, Inc. All intercompany balances and transactions have been eliminated in consolidation. Interim Financial Statements The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information in accordance with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included. While we believe that the disclosures presented herein are adequate and not misleading, these unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended April 30, 2022 included our Form 10-K filed on September 16, 2022. Operating results for the interim period presented are not necessarily indicative of the results for the full year. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value of Financial Instruments The fair value of cash, accounts payable and accrued liabilities and balance due to related parties approximates the carrying amount of these financial instruments due to their short maturity. Related Party Transactions A related party is generally defined as (i) any person that holds 10% or more of our membership interests including such person’s immediate families, (ii) our management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with us, or (iv) anyone who can significantly influence our financial and operating decisions. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. See Note 4 below for details of related party transactions in the period presented. Income Taxes The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Uncertain Tax Positions The Company evaluates tax positions in a two-step process. The Company first determine whether it is more likely than not that a tax position will be sustained upon examination, based on the technical merits of the position. If a tax position meets the more-likely-than-not recognition threshold, it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company classifies gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as long-term liabilities in the financial statements. Revenue Recognition: Revenues are recognized when control of promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation At this time, the Company has not identified specific planned revenue streams. During the three months ended July 31, 2022 and July 31, 2021, respectively, the Company did not recognize any revenue. Stock-Based Compensation The cost of equity instruments issued to employees and non-employees in return for goods and services is measured by the grant date fair value of the equity instruments issued in accordance with ASC 718, Compensation – Stock Compensation. The related expense is recognized as services are rendered or vesting periods elapse. Net Loss per Share Calculation Basic net loss per common share is computed by dividing loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. Diluted earnings per share is not presented when their effect is anti-dilutive. No potential dilutive securities were issued and outstanding during the three months ended July 31, 2022 nor July 31, 2021. COVID-19 Uncertainties The COVID-19 pandemic could have an impact on our ability to obtain financing to fund the operations. The Company is unable to predict the ultimate impact at this time. Recently Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows due to our status as a shell corporation. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Jul. 31, 2022 | |
GOING CONCERN | |
NOTE 2. GOING CONCERN | NOTE 2. GOING CONCERN The Company’s financial statements are prepared using GAAP applicable to a going concern, which contemplate the realization of assets and the liquidation of liabilities in the normal course of business. For the three months ended July 31, 2022, the Company reported a net loss of $8,070, negative working capital of $156,125, and an accumulated deficit of $5,154,604 as of July 31, 2022. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these uncertainties. The Company’s ability to continue as a going concern is dependent upon its ability to develop additional sources of capital, locate and complete a merger with another company and ultimately achieve profitable operations. In the interim, the Company intends to rely upon continued advances from the Company’s majority shareholder and affiliates to funds its working capital needs. No assurances can be given that the Company will be successful in locating or negotiating with any target company or that the majority shareholder and affiliates will continue to fund the Company’s working capital needs. As a result, there is substantial doubt about the Company’s ability to continue as a going concern. |
MARKETABLE SECURITY
MARKETABLE SECURITY | 3 Months Ended |
Jul. 31, 2022 | |
MARKETABLE SECURITY | |
NOTE 3. MARKETABLE SECURITY | NOTE 3. MARKETABLE SECURITY On August 26, 2019, the Company acquired 33.33% of the issued and outstanding common shares of Australian Gold Commodities Ltd (“ACG”), an Australian company, for $100. At the time, the remaining 66.67% of the issued and outstanding common shares of ACG were beneficially owned by our principal shareholder, Copper Hill. Mr. Anthony Lococo, our sole director, was appointed as a director of ACG. Effective June 30, 2020, ACG completed a fund raising after which the Company’s ownership interest was diluted to less than 1%. As of July 31, 2022, it was determined that the historic cost of the marketable security equated to its fair market value as ACG has not commenced trading activities as yet. |
ADVANCES DUE TO RELATED PARTIES
ADVANCES DUE TO RELATED PARTIES | 3 Months Ended |
Jul. 31, 2022 | |
ADVANCES DUE TO RELATED PARTIES | |
NOTE 4. ADVANCES DUE TO RELATED PARTIES | NOTE 4. ADVANCES DUE TO RELATED PARTIES As of April 30, 2022, the Company owed a total of $122,302 to related party companies: $30,408 to Apple iSports, $70,344 to Copper Hill and $21,550 to Mt. Wills. These advances were made to the Company to meet its working capital requirements and are unsecured, interest free and due on demand. Mr. Anthony Lococo, our current sole officer and director, is an officer of Copper Hill. Apple iSports, Inc. is an entity controlled by Copper Hill. Mr. Anthony Lococo, our sole officer and director, is a director of Mt. Wills. During the three months ended July 31, 2022, the Company did not receive any further advance funds from any of the related parties. As further disclose in Note 6 Subsequent Events |
STOCKHOLDERS DEFICIT
STOCKHOLDERS DEFICIT | 3 Months Ended |
Jul. 31, 2022 | |
STOCKHOLDERS DEFICIT | |
NOTE 5. STOCKHOLDERS DEFICIT | NOTE 5. STOCKHOLDERS’ DEFICIT Preferred Stock As of July 31, 2022, the Company was authorized to issue 50,000,000 shares of preferred stock with a par value of $0.0001. On May 5, 2022, the Company amended its Articles of Incorporation by filing a Certificate of Amendment with the Nevada Secretary to increase the authorized shares of preferred stock of the Company, par value $0.0001, from 10,000,000 shares to 50,000,000 shares and all such shares be deemed “blank check” preferred shares in accordance with Article Seventeen of the Company’s Amended and Restated Articles of Incorporation (filed with the Nevada Secretary of State on or about February 20, 2001). No shares of preferred stock were issued or outstanding during the three months ended July 31, 2022 and 2021. Common Stock As of July 31, 2022, the Company was authorized to issue 500,000,000 shares of common stock with a par value of $0.0001. On May 5, 2022, the Company amended its Articles of Incorporation by filing a Certificate of Amendment with the Nevada Secretary of State which increased the authorized shares of common stock of the Company, par value $0.0001, from 200,000,000 shares to 500,000,000 shares. During the three months ended July 31, 2022 and 2021, no shares of common stock were issued. As of July 31, 2022 and April 30, 2022, 7,642,211 shares of common stock were issued and 7,642,210 shares were outstanding, respectively. Treasury Stock The Company’s treasury stock comprised one share of common stock acquired at a cost of $52,954. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jul. 31, 2022 | |
SUBSEQUENT EVENTS | |
NOTE 6. SUBSEQUENT EVENTS | The Company evaluated subsequent events after July 31, 2022, in accordance with FASB ASC 855 Subsequent Events, through the date of the issuance of these financial statements and has determined there have been no subsequent events for which disclosure is required other than as set out below: During the month of August 2022, the Company received $28,500 by way of a loan from a related party to fund its working capital requirements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Policies) | 3 Months Ended |
Jul. 31, 2022 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION | |
Nature of Business | Prevention Insurance.Com (the” Company”) was incorporated under the laws of the State of Nevada in 1975 as Vita Plus Industries, Inc. In March 1999, the Company sold its remaining inventory and changed its name to Prevention Insurance.Com. The Company’s business is to pursue a business combination through acquisition, or merger with, an existing company. No assurances can be given that the Company will be successful in locating or negotiating with any target company. On May 5, 2022, the Company amended its Articles of Incorporation by filing a Certificate of Amendment with the Nevada Secretary of State which; (a). Increased the authorized shares of common stock of the Company, par value $0.0001, from 200,000,000 shares to 500,000,000 shares, and (b). Increased the authorized shares of preferred stock of the Company, par value $0.0001, from 10,000,000 shares to 50,000,000 shares and all such shares be deemed “blank check” preferred shares in accordance with Article Seventeen of the Company’s Amended and Restated Articles of Incorporation (filed with the Nevada Secretary of State on or about February 20, 2001); (collectively, the corporate actions provided in paragraphs (a) and (b) are hereby referred to as the “ Corporate Actions The Corporate Actions were adopted at a meeting of our Board of Directors on February 28, 2022, and the Board of Directors recommended that the Corporate Actions be presented to our shareholders for approval. The record date of the Corporate Actions was March 1, 2022, whereby our majority stockholder, holding 85% of our outstanding voting securities, executed written consent approving Corporate Actions. |
Basis of Presentation | The summary of significant accounting policies is presented to assist in the understanding of the financial statements. These policies conform to accounting principles generally accepted in the United States of America (“GAAP”) and have been consistently applied. |
Consolidated Financial Statements | These consolidated statements include the financial statements of the Company and its subsidiary company, Paramount Capital, Inc. All intercompany balances and transactions have been eliminated in consolidation. |
Interim Financial Statements | The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information in accordance with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included. While we believe that the disclosures presented herein are adequate and not misleading, these unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended April 30, 2022 included our Form 10-K filed on September 16, 2022. Operating results for the interim period presented are not necessarily indicative of the results for the full year. |
Use of Estimates | The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Fair Values of Financial Instruments | The fair value of cash, accounts payable and accrued liabilities and balance due to related parties approximates the carrying amount of these financial instruments due to their short maturity. |
Related Party Transactions | A related party is generally defined as (i) any person that holds 10% or more of our membership interests including such person’s immediate families, (ii) our management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with us, or (iv) anyone who can significantly influence our financial and operating decisions. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. See Note 4 below for details of related party transactions in the period presented. |
Income Taxes | The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating losses and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. |
Uncertain Tax Position | The Company evaluates tax positions in a two-step process. The Company first determine whether it is more likely than not that a tax position will be sustained upon examination, based on the technical merits of the position. If a tax position meets the more-likely-than-not recognition threshold, it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company classifies gross interest and penalties and unrecognized tax benefits that are not expected to result in payment or receipt of cash within one year as long-term liabilities in the financial statements. |
Revenue Recognition | Revenues are recognized when control of promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation At this time, the Company has not identified specific planned revenue streams. During the three months ended July 31, 2022 and July 31, 2021, respectively, the Company did not recognize any revenue. |
Stock-Based Compensation | The cost of equity instruments issued to employees and non-employees in return for goods and services is measured by the grant date fair value of the equity instruments issued in accordance with ASC 718, Compensation – Stock Compensation. The related expense is recognized as services are rendered or vesting periods elapse. |
Net Loss per Share Calculation | Basic net loss per common share is computed by dividing loss available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. Diluted earnings per share is not presented when their effect is anti-dilutive. No potential dilutive securities were issued and outstanding during the three months ended July 31, 2022 nor July 31, 2021. |
COVID-19 Uncertainties | The COVID-19 pandemic could have an impact on our ability to obtain financing to fund the operations. The Company is unable to predict the ultimate impact at this time. |
Recently Accounting Pronouncements | There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations or cash flows due to our status as a shell corporation. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Details Narrative)) - $ / shares | 3 Months Ended | ||||
Mar. 01, 2022 | Jul. 31, 2022 | May 05, 2022 | Apr. 30, 2022 | Jul. 31, 2021 | |
Common stock, shares authorized | 500,000,000 | 500,000,000 | 200,000,000 | ||
Preferred stock, shares authorized | 50,000,000 | 10,000,000 | 10,000,000 | ||
Corporate actions description | The record date of the Corporate Actions was March 1, 2022, whereby our majority stockholder, holding 85% of our outstanding voting securities, executed written consent approving Corporate Actions | ||||
Membership percentage | 10% | ||||
Common stock, shares par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Certificate of Amendment [Member] | |||||
Common stock, shares authorized | 500,000,000 | ||||
Preferred stock, shares authorized | 50,000,000 | ||||
Common stock, shares par value | $ 0.0001 | ||||
Preferred stock, shares par value | $ 0.0001 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | ||
Jul. 31, 2022 | Jul. 31, 2021 | Apr. 30, 2022 | |
GOING CONCERN (Details Narrative) | |||
Working capital deficit | $ (156,125) | ||
Accumulated deficit | (5,154,604) | $ (5,146,534) | |
Net loss | $ (8,070) | $ (10,679) |
MARKETABLE SECURITY (Details Na
MARKETABLE SECURITY (Details Narrative) - Australian Gold Commodities Ltd [Member] - USD ($) | 1 Months Ended | |
Jun. 30, 2020 | Aug. 26, 2019 | |
Common stock shares owned by shareholder, percentage | 66.67% | |
Business acquisition, shares acquired, percentage | 33.33% | |
Percentage of ownership diluted, description | ACG completed a fund raising after which the Company’s ownership interest was diluted to less than 1% | |
Acquisition costs , shares price | $ 100 |
ADVANCES DUE TO RELATED PARTI_2
ADVANCES DUE TO RELATED PARTIES (Details Narrative) - USD ($) | Aug. 31, 2022 | Jul. 31, 2022 | Apr. 30, 2022 |
Due to related parties | $ 122,302 | $ 122,302 | |
Apple ISports Inc [Member] | |||
Due to related parties | 30,408 | ||
Copper Hill [Member] | |||
Due to related parties | 70,344 | ||
Wills Gold Mines Pt Ltd [Member] | |||
Due to related parties | $ 21,550 | ||
Subsequent Event [Member] | |||
Due to related parties | $ 28,500 |
STOCKHOLDERS DEFICIT (Details N
STOCKHOLDERS DEFICIT (Details Narrative) - USD ($) | Jul. 31, 2022 | May 05, 2022 | Apr. 30, 2022 | Jul. 31, 2021 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Preferred stock, shares authorized | 50,000,000 | 10,000,000 | 10,000,000 | |
Preferred stock, shares outstanding | 0 | 0 | 0 | |
Preferred stock, shares issued | 0 | 0 | 0 | |
Common stock, shares par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 | 200,000,000 | |
Common stock, shares issued | 7,642,211 | 7,642,211 | ||
Common stock, shares outstanding | 7,642,210 | 7,642,210 | ||
Treasury cost value | $ 52,954 | $ 52,954 | ||
Certificate of Amendment [Member] | ||||
Preferred stock, par value | $ 0.0001 | |||
Preferred stock, shares authorized | 50,000,000 | |||
Common stock, shares par value | $ 0.0001 | |||
Common Stock, Shares Authorized | 500,000,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | Aug. 31, 2022 | Jul. 31, 2022 | Apr. 30, 2022 |
Due to related parties | $ 122,302 | $ 122,302 | |
Subsequent Event [Member] | |||
Due to related parties | $ 28,500 |