Document and Entity Information
Document and Entity Information - USD ($) | Apr. 30, 2019 | Jan. 31, 2019 | Jul. 31, 2018 | Jan. 31, 2018 |
Details | ||||
Registrant Name | INNOCAP INC | |||
Registrant CIK | 0001281845 | |||
SEC Form | 10-K | |||
Period End date | Jan. 31, 2019 | |||
Fiscal Year End | --01-31 | |||
Trading Symbol | inno | |||
Tax Identification Number (TIN) | 010721929 | |||
Number of common stock shares outstanding | 152,075,000 | |||
Public Float | $ 0 | |||
Filer Category | Non-accelerated Filer | |||
Current with reporting | Yes | |||
Voluntary filer | No | |||
Well-known Seasoned Issuer | No | |||
Shell Company | false | |||
Small Business | true | |||
Emerging Growth Company | false | |||
Amendment Flag | false | |||
Document Fiscal Year Focus | 2019 | |||
Document Fiscal Period Focus | FY | |||
Entity Incorporation, State Country Name | Nevada | |||
Entity Address, Address Line One | 112 N. Walnut Street | |||
Entity Address, Address Line Two | PO Box 489 | |||
Entity Address, City or Town | Jefferson | |||
Entity Address, Country | TX | |||
Entity Address, Postal Zip Code | 75657-0489 | |||
City Area Code | 770 | |||
Local Phone Number | 378-4180 | |||
Entity Listing, Par Value Per Share | $ 0.001 | |||
Preferred Stock, Shares Outstanding | 1,000,000 | 1,000,000 | 1,000,000 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 |
Balance Sheets
Balance Sheets - USD ($) | Jan. 31, 2019 | Jan. 31, 2018 |
CURRENT ASSETS: | ||
Cash | $ 18,870 | $ 144 |
Prepaid expenses | 8,286 | 92,857 |
Total current assets | 27,156 | 93,001 |
Investment in salvage project | 200,000 | 200,000 |
TOTAL ASSETS | 227,156 | 293,001 |
CURRENT LIABILITIES: | ||
Accrued liabilities | 33,352 | 18,118 |
Accrued liabilities - related party | 179,065 | 93,484 |
Project advances | 520,300 | 455,000 |
Total liabilities | 732,717 | 566,602 |
STOCKHOLDERS' DEFICIT: | ||
Preferred Stock, Value | 1,000 | 1,000 |
Common stock at $0.001 par value; 199,000,000 shares authorized; 152,075,000 and 149,075,000 shares issued and outstanding, respectively | 152,075 | 149,075 |
Additional paid-in capital | 689,105 | 667,105 |
Accumulated deficit | (1,347,741) | (1,090,781) |
Total Stockholders' Deficit | (505,561) | (273,601) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 227,156 | $ 293,001 |
Balance Sheets - Parenthetical
Balance Sheets - Parenthetical - $ / shares | Jan. 31, 2019 | Jan. 31, 2018 |
Details | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Outstanding | 1,000,000 | 1,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 199,000,000 | 199,000,000 |
Common Stock, Shares, Issued | 152,075,000 | 149,075,000 |
Common Stock, Shares, Outstanding | 152,075,000 | 149,075,000 |
Statement of Operations
Statement of Operations - USD ($) | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Details | ||
Revenue | $ 0 | $ 0 |
General and administrative | 256,960 | 251,111 |
Net loss | $ (256,960) | $ (251,111) |
Loss per common share - basic and diluted | $ 0 | $ 0 |
Weighted average number of common shares outstanding - basic and diluted | 151,521,575 | 135,818,151 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit - USD ($) | Preferred Stock | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Stockholders' Equity, Starting Balance at Jan. 31, 2017 | $ 1,000 | $ 130,825 | $ 475,255 | $ (839,670) | $ (232,590) |
Shares Outstanding, Starting Balance at Jan. 31, 2017 | 1,000,000 | 130,825,000 | |||
Stock Issued During Period, Value, Stock Options Exercised | $ 0 | $ 9,250 | (9,250) | 0 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 9,250,000 | |||
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture | $ 0 | $ 0 | 55,500 | 0 | 55,500 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 0 | 0 | |||
Stock Issued During Period, Value, Issued for Services | $ 0 | $ 9,000 | 145,600 | 0 | 154,600 |
Stock Issued During Period, Shares, Issued for Services | 9,000,000 | ||||
Net loss | $ 0 | $ 0 | 0 | (251,111) | (251,111) |
Shares Outstanding, Ending Balance at Jan. 31, 2018 | 1,000,000 | 149,075,000 | |||
Stockholders' Equity, Ending Balance at Jan. 31, 2018 | $ 1,000 | $ 149,075 | 667,105 | (1,090,781) | $ (273,601) |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 9,250,000 | ||||
Stock Issued During Period, Value, Issued for Services | $ 0 | $ 3,000 | 22,000 | 0 | $ 25,000 |
Stock Issued During Period, Shares, Issued for Services | 0 | 3,000,000 | |||
Net loss | $ 0 | $ 0 | 0 | (256,960) | (256,960) |
Shares Outstanding, Ending Balance at Jan. 31, 2019 | 1,000,000 | 152,075,000 | |||
Stockholders' Equity, Ending Balance at Jan. 31, 2019 | $ 1,000 | $ 152,075 | $ 689,105 | $ (1,347,741) | $ (505,561) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (256,960) | $ (251,111) |
Adjustment to reconcile net loss to net cash used in operating activities: | ||
Share-based compensation | 109,571 | 210,100 |
Net change in operating assets and liabilities: | ||
Prepaid expenses | 0 | (92,857) |
Accrued liabilities | 15,234 | (11,900) |
Accrued liabilities - related party | 85,581 | 78,250 |
Net Cash Used by Operating Activities | (46,574) | (67,518) |
INVESTING ACTIVITIES: | ||
Investment for exploration activities | 0 | (200,000) |
Net Cash Used by Investing Activities | 0 | (200,000) |
FINANCING ACTIVITIES: | ||
Proceeds from exploration advance | 65,300 | 245,000 |
Net Cash Provided by Financing Activities | 65,300 | 245,000 |
DECREASE IN CASH | 18,726 | (22,518) |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 144 | 22,662 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 18,870 | 144 |
SUPPLEMENTAL CASH FLOWS INFORMATION: | ||
Interest | 0 | 0 |
Income taxes | 0 | 0 |
NON-CASH FINANCING ACTIVITIES | ||
Shares issued for prepaid consulting fees | 25,000 | 0 |
Cashless exercise of options | $ 0 | $ 9,250 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Jan. 31, 2019 | |
Notes | |
Note 1 - Organization | NOTE 1 - ORGANIZATION Innocap, Inc. (the Company) was incorporated under the laws of the State of Nevada on January 23, 2004. In May 2011, the Companys President provided the Company with a business plan of finding and assisting in the salvaging of sunken ships. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2019 | |
Notes | |
Note 2 - Summary of Significant Accounting Policies | NOTE 2 -- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Companys financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Year-end The Company has elected a fiscal year ending on January 31. Estimates The preparation of financial statements in conformity with U.S. 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. Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Investment in Salvage Project The investment in the salvage project is recorded at the Companys cost. Impairment of Long-lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. If the total expected undiscounted future net cash flows are less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. As of January 31, 2019, the progress of the salvage project has been slow due to the salvage ship experiencing unexpected mechanical problems and severe weather conditions. The Company anticipates the project getting back on track during 2019. Management believes that no impairment is required as of January 31, 2019. Income Taxes The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company had no material adjustments to its liabilities for unrecognized income tax benefits. Basic and Diluted Loss Per Common Share Basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were 1,000,000 shares of potentially dilutive convertible preferred shares outstanding at both periods. The Company has excluded these convertible preferred shares due to their anti-dilutive effect for the years ended January 31, 2019 and 2018. Subsequent Events The Company has evaluated all transactions from January 31, 2019 through the financial issuance date for subsequent event disclosure consideration and has determined that there were no reportable events that occurred during that subsequent period to be disclosed or recorded. Recently Issued Accounting Standards The Company has implemented all accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. No new accounting pronouncement that became effective during the year ended January 31, 2019 affected the Company. |
NOTE-3 GOING CONCERN
NOTE-3 GOING CONCERN | 12 Months Ended |
Jan. 31, 2019 | |
Notes | |
NOTE-3 GOING CONCERN | NOTE 3 - GOING CONCERN The accompanying financial statements have been prepared on a going concern basis which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. At January 31, 2019, the Company had negative working capital and an accumulated deficit of $1,347,741 and had no revenues. These factors, among others, indicate that the Company's continuation as a going concern is dependent upon its ability to achieve profitable operations or obtain adequate financing. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. The Company intends to continue seeking revenue producing projects and financing through the business plan of operations and the business contacts of its officers. No assurances can be given as to the likelihood of it obtaining any revenue producing projects or financing. |
NOTE 4 - INVESTMENT IN SALVAGE
NOTE 4 - INVESTMENT IN SALVAGE PROJECT | 12 Months Ended |
Jan. 31, 2019 | |
Notes | |
NOTE 4 - INVESTMENT IN SALVAGE PROJECT | NOTE 4 INVESTMENT IN SALVAGE PROJECT On November 21, 2017, the Company entered into an agreement to assist a company in Singapore to recover a large shipment of tin from a sunken ship that is believed to be in the waters between Indonesia and Malaysia. The Company invested $200,000 in the project. Charles E. Hill and Associates provided the $200,000 needed by the Company as project advances to participate in this contract. A salvage ship left harbor in late February 2019 to conduct the salvage project. No assurances can be given that the sunken ship will be found and, if found, will have the amount of recoverable tin that the parties to the contract are seeking. |
NOTE 5 - PROJECT ADVANCES
NOTE 5 - PROJECT ADVANCES | 12 Months Ended |
Jan. 31, 2019 | |
Notes | |
NOTE 5 - PROJECT ADVANCES | NOTE 5 PROJECT ADVANCES The Company has an agreement with Charles E. Hill and Associates (Investor) under which the Investor agreed to finance in several stages of an exploration to find the Flor de la Mar, a Portuguese ship that sank in 1511 with a rumored large cargo of treasures. The first stage of financing will be up to $500,000. Undertaking this project is contingent on finalizing an agreement with the Government of Indonesia, the negotiations for which are underway. The Investor is an entity controlled by a minority shareholder of the Company. As of January 31, 2019, the Investor had provided aggregate advances of $320,300 under this agreement, including $65,300 and $45,000 during the years ended January 31, 2019 and 2018, respectively. Under the terms of the agreement, the Company will provide the Investor with periodic budgets and documentation of expenses relating to the project. If anything is recovered from the project, the Companys share will be split evenly with the Investor after expenses are reimbursed. If a contract with Indonesia is executed, it is likely that the contract will specify that the Company will have to split the proceeds of any recovery with Indonesia. As discussed in Note 4, the Investor has also advanced $200,000 for the salvage project in the coastal waters between Indonesia and Malaysia. |
NOTE 6 - EQUITY
NOTE 6 - EQUITY | 12 Months Ended |
Jan. 31, 2019 | |
Notes | |
NOTE 6 - EQUITY | NOTE 6 EQUITY Preferred Stock The Companys certificate of incorporation authorizes the issuance of 1,000,000 shares of preferred stock with designations, rights and preferences determined from time to time by its board of directors. Accordingly, the Companys board of directors is empowered, without stockholder approval, to issue shares of preferred stock with voting, liquidation, conversion, or other rights that could adversely affect the rights of the holders of the common stock. In May 2011, the Company issued 1,000,000 shares of preferred stock to Paul Tidwell. Each share of preferred stock is convertible into 50 shares of common stock. These preferred shares have the rights to receive dividends, preferences in liquidation and conversion rights. Common Stock On March 7, 2018, the Company issued 2,000,000 shares to a consultant for services. In June 2018, the Company issued 1,000,000 additional shares to the same consultant. The shares were valued at $0.01 and $0.006, respectively, per share using the stock price on issuance date. The shares issued were recorded as prepaid consulting fees and are being amortized during the contract period of one year. During the fiscal year ended January 31, 2019, the Company recorded $22,873 stock-based compensation based on the amortization. The Company also recorded $86,698 stock-based compensation for the shares issued to an independent advisor in the year ended January 31, 2018. At January 31, 2019, there was $8,286 of unamortized stock-based compensation expense to be recognized in future periods. During the year ended January 31, 2018, the Company issued 9,000,000 shares, including 2,000,000 shares to the Companys President, for services. These shares were valued at $154,600. Non-Statutory Stock Compensation Plan In July 2017, the Company established a Non-Statutory Stock Compensation Plan which, as adjusted, provides for the issuance of up to 33,000,000 shares of the Companys common stock. The plan expires on July 25, 2027. Number of Units Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding, January 31, 2017 - $ - - - Granted 9,250,000 0.006 Cashless Exercised (9,250,000) 0.006 Outstanding, January 31, 2018 - - - - Exercisable, January 31, 2018 - - - - In August 2017, the Company granted options for 9,250,000 shares under the plan to an employee, consultants, and advisors for services, including 4,000,000 to the Companys President. The shares had an exercise price of $0.006, a term of 10 years, and vested immediately. The aggregate fair value of the options on the date of grant, using the Black-Scholes model, was $55,500. Variables used in the Black-Scholes option-pricing model for the options issued included: (1) a discount rate of 1.77% based on the daily yield curve rates for U.S. Treasury obligations, (2) expected term of five years based on the simplified method provided in Staff Accounting Bulletin, (3) expected volatility of 270% based on the historical volatility, (4) zero expected dividends, and (5) fair market value of the Company's stock at $0.006 per share. The Company recognized $55,500 stock-based compensation expense related to these issuances. No options were granted during the year ended January 31, 2019. |
Note 7 - Incomes Taxes
Note 7 - Incomes Taxes | 12 Months Ended |
Jan. 31, 2019 | |
Notes | |
Note 7 - Incomes Taxes | NOTE 7 - INCOME TAXES Innocap has experienced a change in control both in 2008 and in 2011. Accordingly, the utilization of its net operating loss against future taxable income will be limited to carry forward to offset future taxable income. The operating loss incurred subsequent to the change in control that occurred in 2011 was approximately $929,000. The potential benefit from the carryforward of this loss has been fully reserved because utilization is doubtful. The Company has not filed any tax returns, and the net operating loss does not exist. |
NOTE 8 - RELATED PARTY TRANSACT
NOTE 8 - RELATED PARTY TRANSACTIONS | 12 Months Ended |
Jan. 31, 2019 | |
Notes | |
NOTE 8 - RELATED PARTY TRANSACTIONS | NOTE 8 - RELATED PARTY TRANSACTIONS The Company is provided office space by its President for $750 per month. There is no formal lease agreement. The Companys President is currently funding many of the Company current operating and travel expenses. The Company has accrued these liabilities as of January 31, 2019. Accrued liabilities related party also includes compensation due to the Companys president that has not been paid. Balance as of January 31, 2019 and 2018 were $179,065 and $93,484, spectively. The principal involved with the Company providing the project advances described in Note 5 is a minority shareholder in the Company but has no management role. |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies: Basis of presentation (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Basis of presentation | Basis of presentation The Companys financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies: Estimates (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Estimates | Estimates The preparation of financial statements in conformity with U.S. 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. |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies: Cash Equivalents (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Cash Equivalents | Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies: Investment in Salvage Project (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Investment in Salvage Project | Investment in Salvage Project The investment in the salvage project is recorded at the Companys cost. |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies: Impairment of Long-lived Assets (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Impairment of Long-lived Assets | Impairment of Long-lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. If the total expected undiscounted future net cash flows are less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. As of January 31, 2019, the progress of the salvage project has been slow due to the salvage ship experiencing unexpected mechanical problems and severe weather conditions. The Company anticipates the project getting back on track during 2019. Management believes that no impairment is required as of January 31, 2019. |
Note 2 - Summary of Significa_7
Note 2 - Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Income Taxes | Income Taxes The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company had no material adjustments to its liabilities for unrecognized income tax benefits. |
Note 2 - Summary of Significa_8
Note 2 - Summary of Significant Accounting Policies: Basic and Diluted Loss Per Common Share (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Basic and Diluted Loss Per Common Share | Basic and Diluted Loss Per Common Share Basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were 1,000,000 shares of potentially dilutive convertible preferred shares outstanding at both periods. The Company has excluded these convertible preferred shares due to their anti-dilutive effect for the years ended January 31, 2019 and 2018. |
Note 2 - Summary of Significa_9
Note 2 - Summary of Significant Accounting Policies: Subsequent Events (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Subsequent Events | Subsequent Events The Company has evaluated all transactions from January 31, 2019 through the financial issuance date for subsequent event disclosure consideration and has determined that there were no reportable events that occurred during that subsequent period to be disclosed or recorded. |
Note 2 - Summary of Signific_10
Note 2 - Summary of Significant Accounting Policies: Recently Issued Accounting Standards (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Policies | |
Recently Issued Accounting Standards | Recently Issued Accounting Standards The Company has implemented all accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. No new accounting pronouncement that became effective during the year ended January 31, 2019 affected the Company. |
Note 2 - Summary of Signific_11
Note 2 - Summary of Significant Accounting Policies: Year-end (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Tables/Schedules | |
Year-end | Year-end The Company has elected a fiscal year ending on January 31. |
NOTE 6 - EQUITY_ Stock Compensa
NOTE 6 - EQUITY: Stock Compensation Plan, Option Activity (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Tables/Schedules | |
Stock Compensation Plan, Option Activity | Number of Units Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding, January 31, 2017 - $ - - - Granted 9,250,000 0.006 Cashless Exercised (9,250,000) 0.006 Outstanding, January 31, 2018 - - - - Exercisable, January 31, 2018 - - - - |
Note 1 - Organization (Details)
Note 1 - Organization (Details) | 12 Months Ended |
Jan. 31, 2019 | |
Details | |
Entity Incorporation, State Country Name | Nevada |
Entity Incorporation, Date of Incorporation | Jan. 23, 2004 |
NOTE-3 GOING CONCERN (Details)
NOTE-3 GOING CONCERN (Details) - USD ($) | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Details | ||
Accumulated deficit | $ (1,347,741) | $ (1,090,781) |
Revenue | $ 0 | $ 0 |
NOTE 5 - PROJECT ADVANCES (Deta
NOTE 5 - PROJECT ADVANCES (Details) - USD ($) | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Details | ||
Aggregate Project advances | $ 320,300 | |
Project advances | 65,300 | $ 45,000 |
Project Advances | $ 200,000 |
NOTE 6 - EQUITY (Details)
NOTE 6 - EQUITY (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |
May 31, 2011 | Jan. 31, 2019 | Jan. 31, 2018 | |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 | |
Preferred shares issued | 1,000,000 | ||
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture | $ 55,500 | ||
Share-based compensation | $ 109,571 | $ 210,100 | |
Shares issued during period | 9,000,000 | ||
Stock issued to company's president for services | 2,000,000 | ||
Servicing Assets and Servicing Liabilities, Fair Value, Valuation Techniques | Black-Scholes model | ||
Aggregate fair value of the options | $ 55,500 | ||
Discount Rate | 1.77% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 270.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Expected Dividend | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||
Share Price | $ 0.006 | ||
Stock-based compensation expense related to issuances | $ 55,500 | ||
On March 7, 2018 | |||
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture | $ 2,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.01 | ||
In June 2018 | |||
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture | $ 1,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.006 | ||
Based on Amortization | |||
Share-based compensation | $ 22,873 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | 8,286 | ||
Issued to an independent advisor in prior year | |||
Share-based compensation | $ 86,698 |
NOTE 6 - EQUITY_ Stock Compen_2
NOTE 6 - EQUITY: Stock Compensation Plan, Option Activity (Details) | 12 Months Ended |
Jan. 31, 2019USD ($)$ / sharesshares | |
Details | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | shares | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 9,250,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.006 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | (9,250,000) |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | $ 0.006 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | shares | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | shares | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ | $ 0 |
NOTE 8 - RELATED PARTY TRANSA_2
NOTE 8 - RELATED PARTY TRANSACTIONS (Details) - USD ($) | Jan. 31, 2019 | Jan. 31, 2018 |
Details | ||
Accrued liabilities - related party | $ 179,065 | $ 93,484 |