Cover
Cover - shares | 3 Months Ended | |
Jan. 31, 2024 | Apr. 22, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jan. 31, 2024 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --10-31 | |
Entity File Number | 000-51791 | |
Entity Registrant Name | INNOVATIVE DESIGNS, INC. | |
Entity Central Index Key | 0001190370 | |
Entity Tax Identification Number | 03-0465528 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 124 Cherry Street | |
Entity Address, City or Town | Pittsburgh | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 15223 | |
City Area Code | 412 | |
Local Phone Number | 799-0350 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 37,924,003 |
CONDENSED BALANCE SHEETS (UNAUD
CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) | Jan. 31, 2024 | Oct. 31, 2023 |
CURRENT ASSETS: | ||
Cash | $ 208,153 | $ 238,677 |
Accounts receivable, net | 10,397 | 31,050 |
Inventory, net | 601,027 | 549,277 |
Prepaid rent | 6,400 | 0 |
Total current assets | 825,977 | 819,004 |
PROPERTY AND EQUIPMENT, net | 22,314 | 23,479 |
OTHER ASSETS: | ||
Deposits on inventory | 20,000 | |
Advance to employees | 13,200 | 8,200 |
Deposits on equipment | 652,944 | 652,944 |
Total other assets | 666,144 | 661,144 |
TOTAL | 1,514,435 | 1,503,627 |
CURRENT LIABILITIES: | ||
Accounts payable | 84,720 | 216,626 |
Current portion of notes payable | 70,530 | 20,397 |
Accrued interest of stockholder loans | 35,244 | 42,873 |
Current portion of stockholder loans | 12,000 | 70,668 |
Total current liabilities | 202,494 | 350,564 |
LONG-TERM LIABILITIES, | ||
Long-term portion of notes payable | 39,380 | 44,429 |
Total long-term liabilities | 39,380 | 44,429 |
STOCKHOLDERS' EQUITY: | ||
Preferred stock, $0.0001 par value, 25,000,000 shares authorized | 0 | 0 |
Common stock, $0.0001 par value, 100,800,000 shares authorized, and 37,783,448 and 34,650,560 issued and outstanding | 3,781 | 3,656 |
Common stock to be issued | 0 | 0 |
Additional paid-in capital | 11,969,130 | 11,741,935 |
Accumulated deficit | (10,700,350) | (10,636,957) |
Total stockholders' equity | 1,272,561 | 1,108,634 |
TOTAL | $ 1,514,435 | $ 1,503,627 |
CONDENSED BALANCE SHEETS (UNA_2
CONDENSED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Jan. 31, 2024 | Oct. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,800,000 | 100,800,000 |
Common stock, shares issued | 37,783,448 | 34,650,560 |
Common stock, shares outstanding | 37,783,448 | 34,650,560 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Income Statement [Abstract] | ||
REVENUES, net | $ 65,886 | $ 71,647 |
OPERATING EXPENSES: | ||
Cost of sales | 34,824 | 17,010 |
Selling, general and administrative expenses | 85,682 | 113,882 |
Total operating expenses | 120,506 | 130,892 |
Income (loss) from operations | (54,620) | (59,245) |
OTHER INCOME (EXPENSE): | ||
Miscellaneous income (expense) | 0 | 7,519 |
Interest expense | (7,608) | (6,599) |
Depreciation | (1,165) | (769) |
Total other income (expense) | (8,773) | 151 |
Net income (loss) | $ (63,393) | $ (59,094) |
PER SHARE INFORMATION - UNDILUTED: | ||
Net income (loss) per common share | $ (0.002) | $ (0.002) |
Weighted average number of common shares outstanding | 37,092,277 | 34,914,060 |
PER SHARE INFORMATION - DILUTED: | ||
Net income (loss) per common share | $ (0.002) | $ (0.002) |
Weighted average number of common shares outstanding | 38,046,277 | 35,908,060 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) | Common Stock [Member] | Common Stock To Be Issued [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Oct. 31, 2022 | $ 3,467 | $ 11,335,184 | $ (10,335,579) | $ 1,003,072 | |
Beginning balance, shares at Oct. 31, 2022 | 34,650,560 | ||||
Sale of stock | $ 50 | 109,950 | 110,000 | ||
Sale of stock, shares | 500,000 | ||||
Shares issued for services | $ 3 | 5,937 | 5,940 | ||
Shares issued for services, shares | 27,000 | ||||
Net income (loss) | (59,094) | (59,094) | |||
Ending balance, value at Jan. 31, 2023 | $ 3,520 | 11,451,071 | (10,394,673) | 1,059,918 | |
Ending balance, shares at Jan. 31, 2023 | 35,177,560 | ||||
Beginning balance, value at Oct. 31, 2023 | $ 3,656 | 11,741,935 | (10,636,957) | 1,108,634 | |
Beginning balance, shares at Oct. 31, 2023 | 36,532,560 | ||||
Sale of stock | $ 58 | 105,862 | 105,920 | ||
Sale of stock, shares | 580,888 | ||||
Shares issued for services | $ 67 | 121,333 | 121,400 | ||
Shares issued for services, shares | 670,000 | ||||
Net income (loss) | (63,393) | (63,393) | |||
Ending balance, value at Jan. 31, 2024 | $ 3,781 | $ 11,969,130 | $ (10,700,350) | $ 1,272,561 | |
Ending balance, shares at Jan. 31, 2024 | 37,783,448 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 3 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ (63,393) | $ (59,094) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Common stock issued for services | 121,400 | 5,940 |
Depreciation | 1,165 | 769 |
Gain on sale of asset | (7,519) | |
(Increase) decrease from changes in: | ||
Accounts receivable | 20,653 | 3,136 |
Inventory | (31,750) | (147,124) |
Prepaid rent | (6,400) | |
Deposits on inventory | (20,000) | 80,000 |
Advances to employees | (5,000) | |
Increase (decrease) from changes in: | ||
Accounts payable and accrued expenses | (131,906) | 14,089 |
Accrued interest expense | (7,629) | 4,647 |
Net cash provided by (used in) operating activities | (102,860) | (105,156) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of equipment | (20,593) | |
Deposits on equipment | ||
Proceeds from sale of equipment | 7,519 | |
Net cash provided by (used in) investing activities | (13,074) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from sale of stock | 105,920 | 110,000 |
Payments on shareholder advances | (58,668) | (80,840) |
Proceeds from notes payable | 50,000 | |
Payments on notes payable | (4,916) | (4,828) |
Net cash provided by (used in) financing activities | 92,336 | 24,332 |
NET INCREASE (DECREASE) IN CASH | (30,524) | (93,898) |
CASH, BEGINNING OF YEAR | 238,677 | 263,293 |
CASH, END OF THE PERIOD | 208,153 | 169,395 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Cash paid for interest | 15,237 | 1,952 |
Non-cash financing activities - common stock issued for services | $ 121,400 | $ 5,940 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 3 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Pay vs Performance Disclosure [Table] | ||
Net Income (Loss) Attributable to Parent | $ (63,393) | $ (59,094) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jan. 31, 2024 | |
Insider Trading Arrangements [Line Items] | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Jan. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | 1. BASIS OF PRESENTATION In the opinion of management, the accompanying unaudited financial statements contain all adjustments necessary to present fairly Innovative Designs, Inc.’s (the “Company”) financial position as of January 31, 2024, the changes therein for the three month periods then ended and the results of operations for the three month periods ended January 31, 2024 and 2023. The condensed financial statements included in the Form 10-Q (the “Form”) are presented in accordance with the requirements of the Form and do not include all of the disclosures required by accounting principles generally accepted in the United States of America. For additional information, reference is made to the Company’s annual report on Form 10-K year. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Jan. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | 2. GOING CONCERN These condensed financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company had a net loss of ($ 63,393 102,860 10,700,350 |
ACCOUNTS RECEIVABLE
ACCOUNTS RECEIVABLE | 3 Months Ended |
Jan. 31, 2024 | |
Receivables [Abstract] | |
ACCOUNTS RECEIVABLE | 3. ACCOUNTS RECEIVABLE Accounts receivable are reported at their net realizable value. The Company evaluates its receivables on a quarterly basis to assess the validity of remaining receivables. Management has determined that there is significant doubt regarding the receivable balance over 90 days. There were no |
OPENING AND CLOSING BALANCE OF
OPENING AND CLOSING BALANCE OF RECEIVABLES | 3 Months Ended |
Jan. 31, 2024 | |
Opening And Closing Balance Of Receivables | |
OPENING AND CLOSING BALANCE OF RECEIVABLES | 4. OPENING AND CLOSING BALANCE OF RECEIVABLES The opening balance of accounts receivable was $ 31,050 10,397 |
INVENTORY
INVENTORY | 3 Months Ended |
Jan. 31, 2024 | |
Inventory Disclosure [Abstract] | |
INVENTORY | 5. INVENTORY Inventory consists principally of purchased apparel inventory and house wrap which is manufactured by the Company. Armor, 65,600 inventory. |
WARRANTIES
WARRANTIES | 3 Months Ended |
Jan. 31, 2024 | |
Warranties | |
WARRANTIES | 6. WARRANTIES The Company provides a ten-year limited warranty covering defects in workmanship. These warranties are included in the contract and do not provide customers with a service in addition to assurance of compliance with agreed-upon specifications. The Company does not consider these assurance-type warranties to be separate performance obligations. Management has determined that no warranty reserve is currently necessary on the Company’s products. Management will continue to evaluate the need for a warranty reserve throughout the year and make adjustments as needed. |
NOTES PAYABLE
NOTES PAYABLE | 3 Months Ended |
Jan. 31, 2024 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | 7. NOTES PAYABLE During December 2023, the Company entered into a convertible promissory note in the amount of $ 50,000 6.0 100,000 inventory. 0.20 During 2005, the Company entered into an agreement with the U.S. Small Business Association. The note is payable in monthly installments of $ 1,820 2.60 |
STOCKHOLDER LOANS
STOCKHOLDER LOANS | 3 Months Ended |
Jan. 31, 2024 | |
Stockholder Loans | |
STOCKHOLDER LOANS | 8. STOCKHOLDER LOANS Stockholder loans to the Company, including accrued interest totaled $ 47,244 147,450 10 12 |
REVENUES
REVENUES | 3 Months Ended |
Jan. 31, 2024 | |
Revenue from Contract with Customer [Abstract] | |
REVENUES | 9. REVENUES Revenues are measured based on the amount of consideration specified in a contract with a customer. The Company recognizes revenue when and as performance obligations (i.e., obligations to transfer goods and/or services) are satisfied, which generally occurs with the transfer of control of the goods or services to the customer. To determine proper revenue recognition, the Company evaluates whether two or more contracts should be combined and accounted for as a single contract and whether a combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment, and the decision to combine contracts or separate a combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. Contracts are considered to contain a single performance obligation if the promise to transfer individual goods or services is not separately identifiable from other promises in the contracts. For contracts with multiple performance obligations, the Company allocates the transaction price to each performance obligation using the best estimate of the standalone selling price of each distinct good or service in the contract. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 3 Months Ended |
Jan. 31, 2024 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | 10. EARNINGS PER SHARE The Company calculates net loss per share in accordance with Financial Accounting Standards Board (“FASB”) Topic “Earnings per Share” of 954,000 994,000 |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Jan. 31, 2024 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 11. INCOME TAXES The Company accounts for income taxes in accordance with FASB ASC Topic 740 “Income Taxes” Deferred income taxes are provided for differences between the tax bases of assets and liabilities and the financial reporting amounts at the end of the period, and for net operating loss and tax credit carryforwards available to offset future taxable income. Changes in enacted tax rates or laws result in adjustments to recorded deferred tax assets and liabilities in the periods in which the tax laws are enacted or tax rates are changed. The Company will continue to evaluate its income tax obligation throughout the year and will record a tax provision when it is necessary. |
SHIPPING AND HANDLING COSTS
SHIPPING AND HANDLING COSTS | 3 Months Ended |
Jan. 31, 2024 | |
Shipping And Handling Costs | |
SHIPPING AND HANDLING COSTS | 12. SHIPPING AND HANDLING COSTS The Company pays shipping and handling costs on behalf of customers for purchased apparel merchandise. These costs are billed back to the customer through the billing invoice. The shipping and handling costs associated with merchandise ordered by the Company are included as part of inventory as these costs are allocated across the merchandise received. With house wrap orders, the customer pays the shipping cost. The shipping and handling costs associated with customer orders was approximately $ 10,899 15,125 |
COMMON STOCK
COMMON STOCK | 3 Months Ended |
Jan. 31, 2024 | |
Equity [Abstract] | |
COMMON STOCK | 13. COMMON STOCK During the three month period ended January 31, 2024, the Company sold 580,888 105,920 670,000 0.18 0.20 During the three month period ended January 31, 2023, the Company sold 500,000 $ 110,000 27,000 one 0.22 |
DEPOSITS ON EQUIPMENT
DEPOSITS ON EQUIPMENT | 3 Months Ended |
Jan. 31, 2024 | |
Deposits On Equipment | |
DEPOSITS ON EQUIPMENT | 14. DEPOSITS ON EQUIPMENT On July 12, 2015, the Company reached an agreement with Ketut Jaya to purchase the machinery and equipment utilized to produce the INSULTEX material. The purchase price is 700,000 and to be made in four installments. The first installment of $300,000 is to be made at the execution of the agreement. The second installment of $200,000 is to be made when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000 is to be made once the machinery and equipment is producing INSULTEX, and the fourth and final installment of $100,000 is to be made after the first commercial production run of INSULTEX is completed. 500,000 100,000 INSULTEX. 17,000 17,000 16,000 During the fiscal year ended October 31, 2022, the Company made deposits on a separate piece of equipment of $ 7,370 29,574 36,944 Total overall deposits on equipment as of January 31, 2024 and 2023 were $ 652,944 607,370 |
LEASE
LEASE | 3 Months Ended |
Jan. 31, 2024 | |
Lease | |
LEASE | 15. LEASE FASB ASC Topic “Leases” liability, 5.50 The Company entered into a lease for office space at the time the Company was formed through June 2022. Effective July 2022, the Company is leasing the office space on a month to month basis. liability. |
SEGMENT INFORMATION
SEGMENT INFORMATION | 3 Months Ended |
Jan. 31, 2024 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | 16. SEGMENT INFORMATION The Company has organized operations into two segments based on an internal management reporting process that provides segment information for purposes of making financial decisions and allocating resources. The following tables present the Company’s business segment information for the nine month period ended January 31, 2024 and 2023: Schedule of business segment information 2024 2023 Revenues: Apparel $ 7,410 $ 25,364 House wrap 58,476 46,283 Total revenues $ 65,886 $ 71,647 Assets: Apparel $ 72,703 $ 75,972 House wrap 1,441,732 1,391,173 Total assets $ 1,514,435 1,467,145 Depreciation: Apparel $ — $ — House wrap 1,165 769 Total depreciation $ 1,165 $ 769 |
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS | 3 Months Ended |
Jan. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
LEGAL PROCEEDINGS | 17. LEGAL PROCEEDINGS On November 4, 2016, the Federal Trade INSULTEX On November 23, 2020, the Company was informed that the FTC had filed a notice of appeal in regard to the case. The appeal is from the District Court’s September 24, 2020, Order granting the Company’s Motion for Judgment on Partial Findings Pursuant to Fed. R. Civ. P. Dr. Yarbrough’s answer. On July 22, 2021, the Registrant was informed that the U.S. Court of Appeals for the Third District affirmed the District Court’s ruling in favor of the Registrant. The ruling was in connection with the FTC complaint filed against the Registrant in November 2016, alleging, among other matters, that the Registrant did not have substantiation for claims made by the Registrant regarding the R-value and energy efficiency of its INSULTEX In November 2021, in connection with the FTC litigation, the Company filed an application for attorney fees, expenses and cost in the U.S. District Court for the Western District of Pennsylvania, Case No.2:16-cv-01669-NBF. On June 29, 2022, a settlement order was signed by the Court. Pursuant to the Order, the FTC paid the Company $ 260,000 |
ADOPTED PRONOUNCEMENT
ADOPTED PRONOUNCEMENT | 3 Months Ended |
Jan. 31, 2024 | |
Adopted Pronouncement | |
ADOPTED PRONOUNCEMENT | 18. ADOPTED PRONOUNCEMENT The requirements of the following FASB In June 2016, the FASB “Financial Instruments – Credit Losses (Topic equity, |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Jan. 31, 2024 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 19. SUBSEQUENT EVENTS The Company has evaluated subsequent events in accordance with ASC Topic 855, “Subsequent Events |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 3 Months Ended |
Jan. 31, 2024 | |
Segment Reporting [Abstract] | |
Schedule of business segment information | Schedule of business segment information 2024 2023 Revenues: Apparel $ 7,410 $ 25,364 House wrap 58,476 46,283 Total revenues $ 65,886 $ 71,647 Assets: Apparel $ 72,703 $ 75,972 House wrap 1,441,732 1,391,173 Total assets $ 1,514,435 1,467,145 Depreciation: Apparel $ — $ — House wrap 1,165 769 Total depreciation $ 1,165 $ 769 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Oct. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Net loss | $ (63,393) | $ (59,094) | |
Negative cash flow | (102,860) | ||
Accumulated deficit | $ (10,700,350) | $ (10,636,957) |
ACCOUNTS RECEIVABLE (Details Na
ACCOUNTS RECEIVABLE (Details Narrative) - USD ($) | Jan. 31, 2024 | Oct. 31, 2023 |
Receivables [Abstract] | ||
Receivable balance | $ 0 | $ 0 |
OPENING AND CLOSING BALANCE O_2
OPENING AND CLOSING BALANCE OF RECEIVABLES (Details Narrative) - USD ($) | Jan. 31, 2024 | Oct. 31, 2023 |
Opening And Closing Balance Of Receivables | ||
Accounts receivable | $ 10,397 | $ 31,050 |
INVENTORY (Details Narrative)
INVENTORY (Details Narrative) - USD ($) | Jan. 31, 2024 | Oct. 31, 2023 |
Inventory Disclosure [Abstract] | ||
Reserve against apparel inventory | $ 65,600 | $ 65,600 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended |
Dec. 31, 2023 | Jan. 31, 2024 | |
Convertible promissory note amount | $ 50,000 | |
Interest rate | 6% | |
Secured note | $ 100,000 | |
Conversion price | $ 0.20 | |
U.S. Small Business Association [Member] | ||
Interest rate | 2.60% | |
Monthly installments | $ 1,820 |
STOCKHOLDER LOANS (Details Narr
STOCKHOLDER LOANS (Details Narrative) - USD ($) | 3 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Stockholder Loans | ||
Accrued interest | $ 47,244 | $ 147,450 |
Loans bear interest rate | 10% | 12% |
EARNINGS PER SHARE (Details Nar
EARNINGS PER SHARE (Details Narrative) - shares | Jan. 31, 2024 | Oct. 31, 2023 |
Earnings Per Share [Abstract] | ||
Stock of warrants | 954,000 | 994,000 |
SHIPPING AND HANDLING COSTS (De
SHIPPING AND HANDLING COSTS (Details Narrative) - USD ($) | 3 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Shipping And Handling Costs | ||
Shipping and handling costs | $ 10,899 | $ 15,125 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | 3 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Proceeds from sale of stock | $ 105,920 | $ 110,000 |
Eight Investors [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Shares issued for services | 580,888 | |
Proceeds from sale of stock | $ 105,920 | |
Two Investors [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Shares issued for services | 670,000 | |
Two Investors [Member] | Minimum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Share price | $ 0.18 | |
Two Investors [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Share price | $ 0.20 | |
One Investors [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Shares issued for services | 500,000 | |
Proceeds from sale of stock | $ 110,000 | |
One Individuals [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Shares issued for services | 27,000 | |
Share price | $ 0.22 |
DEPOSITS ON EQUIPMENT (Details
DEPOSITS ON EQUIPMENT (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |||||
Jul. 12, 2015 | Jan. 31, 2024 | Oct. 31, 2023 | Oct. 31, 2019 | Oct. 31, 2018 | Jan. 31, 2023 | Oct. 31, 2022 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Deposits on equipment | $ 652,944 | $ 607,370 | |||||
Separate Piece Of Equipments [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Deposits on equipment | $ 36,944 | $ 29,574 | $ 7,370 | ||||
Ketut Jaya [Member] | INSULTEX Material [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Purchase price machinery and equipment | $ 700,000 | $ 500,000 | |||||
Description of purchase price payment terms | The first installment of $300,000 is to be made at the execution of the agreement. The second installment of $200,000 is to be made when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000 is to be made once the machinery and equipment is producing INSULTEX, and the fourth and final installment of $100,000 is to be made after the first commercial production run of INSULTEX is completed. | ||||||
Prepayment for machinery and equipment | 100,000 | ||||||
Additional expenses related to equipment | $ 17,000 | ||||||
Shipping costs | $ 17,000 | ||||||
Additional preprepayment for machinery and equipment | $ 16,000 |
LEASE (Details Narrative)
LEASE (Details Narrative) | 3 Months Ended |
Jan. 31, 2024 | |
Lease | |
Interest rate | 5.50% |
Lease ROU description | The Company entered into a lease for office space at the time the Company was formed through June 2022. Effective July 2022, the Company is leasing the office space on a month to month basis. |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) - USD ($) | 3 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Segment Reporting Information [Line Items] | ||
Total Revenues | $ 65,886 | $ 71,647 |
Total Assets | 1,514,435 | 1,467,145 |
Total Depreciation | 1,165 | 769 |
Apparel [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 7,410 | 25,364 |
Total Assets | 72,703 | 75,972 |
Total Depreciation | 0 | 0 |
Housewrap [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Revenues | 58,476 | 46,283 |
Total Assets | 1,441,732 | 1,391,173 |
Total Depreciation | $ 1,165 | $ 769 |
LEGAL PROCEEDINGS (Details Narr
LEGAL PROCEEDINGS (Details Narrative) | Jun. 29, 2022 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Payment for settlement | $ 260,000 |