Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jul. 31, 2018 | Sep. 19, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | Advanced Biomedical Technologies Inc. | |
Entity Central Index Key | 1,385,799 | |
Document Type | 10-Q | |
Document Period End Date | Jul. 31, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --10-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 69,374,850 | |
Trading Symbol | ABMT | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,018 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jul. 31, 2018 | Oct. 31, 2017 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 15,955 | $ 7,463 |
Other receivables and prepaid expenses | 18,893 | 17,469 |
Total Current Assets | 34,848 | 24,932 |
Property and equipment, cost | 488,475 | 483,482 |
Less: Accumulated depreciation | (419,070) | (422,967) |
PROPERTY AND EQUIPMENT, NET | 69,405 | 60,515 |
LONG-TERM PREPAID EXPENSES, NET | 26,721 | |
TOTAL ASSETS | 130,974 | 85,447 |
CURRENT LIABILITIES | ||
Other payables and accrued expenses | 422,812 | 409,079 |
Due to directors | 301,656 | 321,420 |
Due to a stockholder | 684,365 | 582,795 |
Due to related parties | 4,212,511 | 3,767,180 |
Total Current Liabilities | 5,621,344 | 5,080,474 |
STOCKHOLDERS' DEFICIT | ||
Common stock, $0.00001 par value, 100,000,000 shares authorized, 69,374,850 issued and outstanding as of July 31, 2018 and October 31, 2017 | 694 | 694 |
Additional paid-in capital | 2,684,923 | 2,673,620 |
Accumulated deficit | (8,326,498) | (7,679,298) |
Accumulated other comprehensive income/(loss) | 150,511 | 9,957 |
Total Deficit | (5,490,370) | (4,995,027) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 130,974 | $ 85,447 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Jul. 31, 2018 | Oct. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 69,374,850 | 69,374,850 |
Common stock, shares outstanding | 69,374,850 | 69,374,850 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2018 | Jul. 31, 2017 | Jul. 31, 2018 | Jul. 31, 2017 | |
OPERATING EXPENSES | ||||
General and administrative expenses | $ 120,799 | $ 74,308 | $ 360,769 | $ 244,169 |
Depreciation | 2,254 | 4,631 | 6,771 | 12,916 |
Research and development | 13,166 | 7,839 | 36,892 | 35,115 |
Total Operating Expenses | 136,219 | 86,778 | 404,432 | 292,200 |
LOSS FROM OPERATIONS | (136,219) | (86,778) | (404,432) | (292,200) |
OTHER (EXPENSES) INCOME | ||||
Interest income | 6 | 15 | 27 | 31 |
Interest paid to a stockholder and related parties | (73,063) | (57,788) | (212,902) | (169,661) |
Interest paid to a third party | (3,441) | (8,176) | ||
Imputed interest | (3,662) | (3,799) | (11,303) | (11,819) |
Other, net | (2,900) | (18,218) | (18,590) | (25,632) |
Total Other (Expenses) Income, net | (79,619) | (83,231) | (242,768) | (215,257) |
LOSS BEFORE TAXES | (215,838) | (170,009) | (647,200) | (507,457) |
Income tax expense | ||||
NET LOSS | (215,838) | (170,009) | (647,200) | (507,457) |
Net loss attributable to non-controlling interests | ||||
NET LOSS ATTRIBUTABLE TO ABMT COMMON STOCKHOLDERS | (215,838) | (170,009) | (647,200) | (507,457) |
OTHER COMPREHENSIVE INCOME | ||||
Foreign currency translation income | 357,674 | (101,620) | 140,554 | (35,905) |
Total other comprehensive gain/(loss) | 357,674 | (101,620) | 140,554 | (35,905) |
COMPREHENSIVE GAIN/(LOSS) ATTRIBUTABLE TO ABMT COMMON STOCKHOLDERS | $ 141,836 | $ (271,629) | $ (506,646) | $ (543,362) |
Net loss per share-basic and diluted - basic and diluted | $ 0 | $ 0 | $ (0.01) | $ (0.01) |
Weighted average number of shares outstanding during the period - basic and diluted | 69,374,850 | 69,374,850 | 69,374,850 | 67,907,818 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Total |
Balance at Oct. 31, 2016 | $ 671 | $ 2,520,520 | $ (6,987,698) | $ 104,212 | $ (4,362,295) |
Balance, shares at Oct. 31, 2016 | 67,124,850 | ||||
Stock issued for debt conversion at 0.05 per share | $ 20 | 99,980 | 100,000 | ||
Stock issued for debt conversion at 0.05 per share, shares | 2,000,000 | ||||
Stock issued for services ($0.15 per share) | $ 3 | 37,497 | 37,500 | ||
Stock issued for services ($0.15 per share), shares | 250,000 | ||||
Imputed interest on advances from directors | 15,623 | 15,623 | |||
Net loss for the period | (691,600) | (691,600) | |||
Foreign currency translation loss | (94,255) | (94,255) | |||
Balance at Oct. 31, 2017 | $ 694 | 2,673,620 | (7,679,298) | 9,957 | (4,995,027) |
Balance, shares at Oct. 31, 2017 | 69,374,850 | ||||
Imputed interest on advances from directors | 11,303 | 11,303 | |||
Net loss for the period | (647,200) | (647,200) | |||
Foreign currency translation loss | 140,554 | 140,554 | |||
Balance at Jul. 31, 2018 | $ 694 | $ 2,684,923 | $ (8,326,498) | $ 150,511 | $ (5,490,370) |
Balance, shares at Jul. 31, 2018 | 69,374,850 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) (Parenthetical) | Oct. 31, 2017$ / shares |
Statement of Stockholders' Equity [Abstract] | |
Debt conversion price, per share | $ 0.05 |
Shares issued for service, per share | $ 0.15 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Jul. 31, 2018 | Jul. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss attributable to ABMT common stockholders | $ (647,200) | $ (507,457) |
Adjustments to reconcile net loss to cash used in | ||
Depreciation | 6,771 | 12,916 |
Amortisation of long-term prepaid expenses | 4,542 | |
Stock issued for services | 37,500 | |
Imputed interest | 11,303 | 11,819 |
Decrease (increase) in: | ||
Other receivables and prepaid expenses | (1,682) | 1,302 |
Increase in: | ||
Other payables and accrued expenses | 24,588 | 112,302 |
Net cash used in operating activities | (601,678) | (331,618) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property and equipment | (17,686) | |
Renovation of factory premises | (32,700) | |
(Increase) decrease in deposit for purchase of property and equipment | 1,202 | |
Net cash used in investing activities | (50,386) | 1,202 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Due to a stockholder | 102,106 | 71,908 |
Due to directors | (12,823) | (40,843) |
Due to related parties | 571,636 | 302,305 |
Net cash provided by financing activities | 660,919 | 333,370 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | (363) | 116 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 8,492 | 3,070 |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF PERIOD | 7,463 | 6,559 |
CASH AND CASH EQUIVALENTS AT THE END OF PERIOD | $ 15,955 | $ 9,629 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Jul. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | NOTE 1 BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contain adjustments considered necessary to present fairly the Company’s financial position as of July 31, 2018, the consolidated results of operations for the three and nine months ended July 31, 2018 and 2017 and consolidated statements of cash flows for the nine months ended July 31, 2018 and 2017 on an accrual basis and in accordance with accounting principles generally accepted in the United States of America for interim financial information and rules and regulations of the SEC. The consolidated results for the three and nine months ended July 31, 2018 are not necessarily indicative of the results to be expected for the entire fiscal year ending October 31, 2018. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes for the year ended October 31, 2017 appearing in the Company’s annual report on Form 10-K as filed with the Securities and Exchange Commission on February 13, 2018. The reporting currency of the Company is US dollar. |
Organization
Organization | 9 Months Ended |
Jul. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | NOTE 2 ORGANIZATION Advanced BioMedical Technologies, Inc. (fka “Geostar Mineral Corporation” or “Geostar”) (“ABMT”) was incorporated in Nevada on September 12, 2006. Shenzhen Changhua Biomedical Engineering Company Limited (“Shenzhen Changhua”) was incorporated in the People’s Republic of China (“PRC”) on September 25, 2002 as a limited liability company with a registered capital of $724,017. Shenzhen Changhua is owned by two stockholders in the proportion of 70% and 30% respectively. Shenzhen Changhua plans to develop, manufacture and market self-reinforced, re-absorbable degradable PA screws, robs and binding ties for fixation on human fractured bones. The Company is currently conducting clinical trials on its products and intends to raise additional capital to produce and market its products commercially pending the approval from the China Food and Drug Administration (“CFDA”, fka “SFDA”) of the PRC on its products. The Company has no revenue since its inception and, in accordance with Accounting Standards Codification (“ASC”) Topic 915, “Development Stage Entities” (formerly Statement of Financial Accounting Standard (“SFAS”) No. 7, “Accounting and Reporting by Development Stage Enterprise”), is considered a Development Stage Company. Masterise Holdings Limited (“Masterise”) was incorporated in the British Virgin Islands on May 31, 2007 as an investment holding company and was then owned as to 63% by the spouse of Shenzhen Changhua’s 70% majority stockholder at the time and 37% by a third party corporation. On January 29, 2008, Masterise entered into a Share Purchase Agreement (“the Agreement”) with a stockholder of Shenzhen Changhua whereupon Masterise acquired 70% of Shenzhen Changhua for US$64,100 in cash. The acquisition was completed on February 25, 2008. As both Masterise and Shenzhen Changhua were under common control and management, the acquisition was accounted for as a reorganization of entities under common control. Accordingly, the operations of Shenzhen Changhua were included in the consolidated financial statements as if the transactions had occurred retroactively. On December 31, 2008, ABMT consummated a Share Exchange Agreement (“the Exchange Agreement”) with the stockholders of Masterise pursuant to which ABMT issued 50,000 shares of Common Stock to the stockholders of Masterise for 100% equity interest in Masterise. Concurrently, on December 31, 2008, a major stockholder of ABMT also consummated an Affiliate Stock Purchase Agreement (the “Affiliate Agreement”) with thirteen individuals including all the stockholders of Masterise, pursuant to which the major stockholder sold a total of 5,001,000 shares of ABMT’s common stock for a total aggregate consideration of $5,000, including 4,438,250 shares to the stockholders of Masterise. On consummation of the Exchange Agreement and the Affiliate Agreement, the 70% majority stockholder of Masterise became an 80.7% stockholder of ABMT. On March 13, 2009, the name of the Company was changed from Geostar Mineral Corporation to Advanced Biomedical Technologies, Inc. The merger of ABMT and Masterise was treated for accounting purposes as a capital transaction and recapitalization by Masterise (“the accounting acquirer”) and a re-organization by ABMT (“the accounting acquiree”). The financial statements have been prepared as if the re-organization had occurred retroactively. Accordingly, these financial statements include the following: (1) The balance sheet consisting of the net assets of the acquirer at historical cost and the net assets of the acquiree at historical cost. (2) The statement of operations including the operations of the acquirer for the periods presented and the operations of the acquiree from the date of the transaction. ABMT, Masterise and Shenzhen Changhua are hereinafter referred to as (“the Company”). |
Principles of Consolidation
Principles of Consolidation | 9 Months Ended |
Jul. 31, 2018 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | NOTE 3 PRINCIPLES OF CONSOLIDATION The accompanying condensed consolidated financial statements include the financial statements of ABMT and its wholly owned subsidiaries, Masterise and its 70% owned subsidiary, Shenzhen Changhua. The non-controlling interests in periods prior to 2012 represent the non-controlling stockholders’ 30% proportionate share of the results of Shenzhen Changhua. All significant inter-company balances and transactions have been eliminated in consolidation. |
Use of Estimates
Use of Estimates | 9 Months Ended |
Jul. 31, 2018 | |
Use Of Estimates | |
Use of Estimates | NOTE 4 USE OF ESTIMATES The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount 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. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Jul. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5 RELATED PARTY TRANSACTIONS As of July 31, 2018 and October 31, 2017, the Company owed a stockholder $684,365 and $582,795 respectively which are unsecured and repayable on demand. Interests are charged at 7% per annum on the amount owed. As of July 31, 2018 and October 31, 2017, the Company owed four related parties a total of $4,212,511 and $3,767,180 respectively which are unsecured and repayable on demand. Interests are charged at 7% per annum on the amounts owed. Total interest expenses on advances from a stockholder and the related parties accrued for the three and nine months ended July 31, 2018 and 2017 were $73,063, $57,788, $212,902, and $169,661 respectively. As of July 31, 2018 and October 31, 2017, the Company owed $301,656 and $321,420 respectively, to two directors for advances made on an unsecured basis, repayable on demand and interest free. Imputed interest charged at 5% per annum on the amounts owed to two directors is $3,662, $3,799, $11,303 and $11,819 for the three and nine months ended July 31, 2018 and 2017 respectively. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Jul. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 6 COMMITMENTS AND CONTINGENCIES The Company’s existing rental leases do not contain significant restrictive provisions. The schedule of future minimum lease obligations falling due under non-cancelable rental operating leases is as follows: Fiscal year ending October 31, 2018 3,527 2019 7,055 Total $ 10,582 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Jul. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | NOTE 7 FAIR VALUE OF FINANCIAL INSTRUMENTS The Financial Accounting Standards Board (FASB) Codification Topic 825 (ASC Topic 825), “Disclosure About Fair Value of Financial Instruments,” requires certain disclosures regarding the fair value of financial instruments. The carrying amounts of other receivables and prepaid expenses, other payables and accrued liabilities and due to a stockholder, directors and related parties approximate their fair values because of the short-term nature of the instruments. The management of the Company is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial statements. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Jul. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | NOTE 8 RECENT ACCOUNTING PRONOUNCEMENTS Business Combination: Clarifying the Definition of a Business In January 2017, the FASB issued ASU No. 2017-1 “Topic 805, Business Combinations: Clarifying the Definition of a Business”. The amendments in this update provide a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. The amendments in this update affect all reporting entities that must determine whether they have acquired or sold a business. Public business entities should apply the amendments in this update to annual periods beginning after December 15, 2017, including interim periods within those periods. All other entities should apply the amendments to annual periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. The Company does not expect the adoption of ASU 2017-1 to have a material impact on its consolidated financial statements. Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU No. 2017-4 “Topic 350: Intangibles-Goodwill and Other: Simplifying the Test for Goodwill Impairment.” The amendments in this update eliminate step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. The amendments in this update are effective for annual or interim goodwill impairment tests performed in fiscal years beginning after December 15, 2019; early adoption is permitted. The Company does not expect the adoption of ASU 2017-4 to have a material impact on its consolidated financial statements. Share-based Compensation In May 2017, the FASB issued guidance on changes to terms and conditions of share-based payment awards. The amendment provides guidance about which changes to terms or conditions of a share-based payment award require an entity to apply modification accounting. The guidance is effective for the fiscal year beginning on January 1, 2018, including interim periods within that year. In June 2018, the scope of Topic 718 has been expanded to include sharebased payment transactions for acquiring goods and services from nonemployees. An entity should apply the requirements of Topic 718 to nonemployee awards except for specific guidance on inputs to an option pricing model 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 Topic 718 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. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2018 and after December 15, 2019 for all other entities. Early adoption is permitted, but no earlier than an entity’s adoption date of Topic 606. The Company does not anticipate that adoption of these guidances will have a material impact on its consolidated financial statements. Revenue Recognition In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. Under the new standard, a good or service is transferred to the customer when (or as) the customer obtains control of the good or service, which differs from the risk and rewards approach under current guidance. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of the time value of money in the transaction price and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. In March, April and May 2016, the FASB issued three additional updates regarding identifying performance obligations and licensing, certain principal versus agent considerations and various narrow scope improvements based on practical questions raised by users. In September 2017, the FASB issued additional amendments providing clarification and implementation guidance. The guidance may be adopted through either retrospective application to all periods presented in the financial statements (full retrospective approach) or through a cumulative effect adjustment to retained earnings at the effective date (modified retrospective approach). The guidance is effective for the fiscal periods beginning on January 1, 2018. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), which modifies lease accounting for lessees to increase transparency and comparability by recording lease assets and liabilities for operating leases and disclosing key information about leasing arrangements. The new standard, as amended by ASU 2018-01 and ASU 2018-11, is effective for annual periods beginning after December 15, 2018 on a modified retrospective basis. The Company will adopt ASU 2016-02 in its first quarter of the year ending October 31 2020. The Company expects its leases designated as operating leases in Note 6, “Commitments and Contingencies,” will be reported on the consolidated balance sheets upon adoption. However, the ultimate impact of adopting ASU 2016-02 will depend on the lease terms as of the adoption date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoptions of any such pronouncements may be expected to cause a material impact on the financial condition or the results of operations. |
Going Concern
Going Concern | 9 Months Ended |
Jul. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 9 GOING CONCERN As reflected in the accompanying unaudited condensed consolidated financial statements, the Company has not commenced revenue producing operations and has an accumulated deficit of $8,326,498 as of July 31, 2018 and which includes a net loss of $647,200 for the nine months ended July 31, 2018. As of July 31, 2018, the Company’s total current liabilities exceeded its total current assets by $5,586,496 and the Company used cash in operations of $601,678 for the nine months ended on that date. These factors raise substantial doubt about its ability to continue as a going concern. In view of the matters described above, recoverability of a major portion of the recorded asset amounts shown in the accompanying condensed consolidated balance sheet is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to raise additional capital, obtain financing and succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management has taken the following steps to revise its operating and financial requirements, which it believes are sufficient to provide the Company with the ability to continue as a going concern. The Company is actively pursuing additional funding and strategic partners, which will enable the Company to implement its business plan. Management believes that these actions as successful will allow the Company to continue its operations through the next fiscal year. |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Jul. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Obligations of Operating Leases | The schedule of future minimum lease obligations falling due under non-cancelable rental operating leases is as follows: Fiscal year ending October 31, 2018 3,527 2019 7,055 Total $ 10,582 |
Organization (Details Narrative
Organization (Details Narrative) - USD ($) | Dec. 31, 2008 | Jan. 29, 2008 | May 31, 2007 | Sep. 25, 2002 |
Masterise [Member] | ||||
Ownership interest - majority stockholder | 63.00% | |||
Ownership interest - minority stockholder | 37.00% | |||
Masterise [Member] | ABMT [Member] | ||||
Ownership acquired | 100.00% | |||
Stock issued in acquisition, shares | 50,000 | |||
Shenzhen Changhua [Member] | ||||
Registered capital | $ 724,017 | |||
Ownership interest - majority stockholder | 70.00% | |||
Ownership interest - minority stockholder | 30.00% | |||
Shenzhen Changhua [Member] | Masterise [Member] | ||||
Ownership acquired | 70.00% | 70.00% | ||
Payment for acquisition | $ 64,100 | |||
Majority Shareholders [Member] | ABMT [Member] | ||||
Ownership acquired | 80.70% | |||
Stock sold per affiliate agreement, shares | 5,001,000 | |||
Stock sold per affiliate agreement | $ 5,000 | |||
Majority Shareholders [Member] | Masterise [Member] | ||||
Ownership interest - majority stockholder | 70.00% | |||
Stock sold per affiliate agreement, shares | 4,438,250 |
Principles of Consolidation (De
Principles of Consolidation (Details Narrative) | Jul. 31, 2018 |
Accounting Policies [Abstract] | |
Ownership of subsidiaries | 70.00% |
Ownership by noncontrolling stockholders | 30.00% |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jul. 31, 2018 | Jul. 31, 2017 | Jul. 31, 2018 | Jul. 31, 2017 | Oct. 31, 2017 | |
Due to stockholder | $ 684,365 | $ 684,365 | $ 582,795 | ||
Interest rate | 7.00% | 7.00% | |||
Due to related parties | 4,212,511 | $ 4,212,511 | $ 3,767,180 | ||
Interest paid to a stockholder and related parties | 73,063 | $ 57,788 | 212,902 | $ 169,661 | |
Due to directors | 301,656 | 301,656 | $ 321,420 | ||
Imputed interest | $ 3,662 | $ 3,799 | $ 11,303 | $ 11,819 | |
Four Related Parties [Member] | |||||
Interest rate | 7.00% | 7.00% |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Future Minimum Lease Obligations of Operating Leases (Details) | Jul. 31, 2018USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Fiscal year ending October 31, 2018 | $ 3,527 |
Fiscal year ending October 31, 2019 | 7,055 |
Total | $ 10,582 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Jul. 31, 2018 | Jul. 31, 2017 | Jul. 31, 2018 | Jul. 31, 2017 | Oct. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Accumulated deficit | $ 8,326,498 | $ 8,326,498 | $ 7,679,298 | ||
Net loss | 215,838 | $ 170,009 | 647,200 | $ 507,457 | |
Working capital deficit | $ 5,586,496 | 5,586,496 | |||
Net cash used in operating activities | $ 601,678 | $ 331,618 |