Cover
Cover - shares | 6 Months Ended | |
Jan. 31, 2024 | Mar. 28, 2024 | |
Entity Addresses [Line Items] | ||
Document Type | 10-Q/A | |
Amendment Flag | true | |
Amendment Description | This Amendment to Form 10-Q filed March 26, 2023 includes iXBRL tagging as required by the Securities Exchange Commission. | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jan. 31, 2024 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --07-31 | |
Entity File Number | 000-55282 | |
Entity Registrant Name | Himalaya Technologies, Inc. | |
Entity Central Index Key | 0001409624 | |
Entity Tax Identification Number | 26-0841675 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 108 Scharberry Lane #2 | |
Entity Address, City or Town | Mars | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 16046 | |
City Area Code | (630) | |
Local Phone Number | 708-0750 | |
Entity Current Reporting Status | Yes | |
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 | 304,960,235 | |
Former Address [Member] | ||
Entity Addresses [Line Items] | ||
Entity Address, Address Line One | 625 Stanwix St. #2504 | |
Entity Address, City or Town | Pittsburgh | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 15222 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Jan. 31, 2024 | Jul. 31, 2023 |
Current assets | ||
Cash | $ 5,107 | $ 324 |
Total current assets | 5,107 | 324 |
Other assets: | ||
Investments | 63,000 | 21,000 |
Intangible assets | 45,634 | |
Digital assets | 5,000 | |
Website design | 18,520 | 14,651 |
Total other assets | 132,154 | 35,651 |
Total assets | 137,261 | 35,975 |
Current liabilities | ||
Accounts payable and accrued expenses | 275,526 | 277,478 |
Derivative liability | 263,822 | 680,946 |
Loan from affiliate | 3,000 | 41,157 |
Loans payable due to non-related parties, net | 153,371 | 162,025 |
Total current liabilities | 695,719 | 1,161,606 |
Total liabilities | 695,719 | 1,161,606 |
Stockholders’ deficit | ||
Common stock; $0.0001 par value authorized: 1,000,000,000 shares; issued and outstanding 281,077,890 and 186,878,572 | 28,107 | 18,688 |
Additional paid-in-capital | 8,513,906 | 7,491,934 |
Accumulated deficit | (9,101,618) | (8,637,251) |
Total stockholders’ deficit | (558,458) | (1,125,631) |
Total liabilities and stockholders’ deficit | 137,261 | 35,975 |
Preferred Class A [Member] | ||
Stockholders’ deficit | ||
Preferred stock value | 964 | 846 |
Preferred Class B [Member] | ||
Stockholders’ deficit | ||
Preferred stock value | 83 | 52 |
Preferred Class C [Member] | ||
Stockholders’ deficit | ||
Preferred stock value | $ 100 | $ 100 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jan. 31, 2024 | Jul. 31, 2023 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 281,077,890 | 186,878,572 |
Common stock, shares, outstanding | 281,077,890 | 186,878,572 |
Preferred Class A [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 130,000,000 | 130,000,000 |
Preferred stock, shares issued | 9,642,179 | 8,457,777 |
Preferred stock, shares outstanding | 9,642,179 | 8,457,777 |
Preferred Class B [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 822,172 | 518,730 |
Preferred stock, shares outstanding | 822,172 | 518,730 |
Preferred Class C [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
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 |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | |
Income Statement [Abstract] | ||||
Operating revenue | ||||
Cost of revenue | ||||
Gross profit | ||||
Operating expenses: | ||||
General and administrative | 62,023 | 80,133 | 356,740 | 160,732 |
Amortization expense | 1,428 | 1,203 | 2,631 | 2,321 |
Total operating expenses | 63,451 | 81,336 | 359,371 | 163,053 |
Loss from operations | (63,451) | (81,336) | (359,371) | (163,053) |
Other income (expenses) | ||||
Interest expense | (12,878) | (8,524) | (19,571) | (15,878) |
Derivative expense | (9,679) | (24,220) | (64,937) | |
Change in derivative liability | 41,558 | (251,183) | 257,187 | (280,674) |
Loss on debt conversions | (360,480) | (360,480) | ||
Gain on sale of oil and gas properties | 112,000 | 112,000 | ||
Investment gain | 42,000 | 42,000 | ||
Other income | 76 | 94 | 88 | 250 |
Total other income (expenses) | (299,403) | (147,613) | (104,996) | (249,239) |
Income (loss) before income taxes | (362,854) | (228,949) | (464,367) | (412,292) |
Provision for income taxes | ||||
Net income (loss) | $ (362,854) | $ (228,949) | $ (464,367) | $ (412,292) |
Net income (loss) per share, basic | $ 0 | $ 0 | $ 0 | $ 0 |
Net income (loss) per share, diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average common equivalent share outstanding, basic | 207,187,435 | 147,201,861 | 203,270,024 | 147,201,861 |
Weighted average common equivalent share outstanding, diluted | 207,187,435 | 147,201,861 | 203,270,024 | 147,201,861 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Preferred Stock [Member] Preferred Class A [Member] | Preferred Stock [Member] Preferred Class B [Member] | Preferred Stock [Member] Preferred Class C [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Jul. 31, 2022 | $ 14,720 | $ 54 | $ 100 | $ 7,350,927 | $ (8,059,476) | $ (693,675) | |
Balance, shares at Jul. 31, 2022 | 147,201,861 | 536,876 | 1,000,000 | ||||
Recognition of warrants | 45,000 | 45,000 | |||||
Net income | (412,292) | (412,292) | |||||
Shares issued for accrued compensation | $ 1 | 39,999 | 40,000 | ||||
Shares issued for accrued compensation, shares | 9,090 | ||||||
Balance at Jan. 31, 2023 | $ 14,720 | $ 55 | $ 100 | 7,435,926 | (8,471,768) | (1,020,967) | |
Balance, shares at Jan. 31, 2023 | 147,201,861 | 545,966 | 1,000,000 | ||||
Balance at Jul. 31, 2023 | $ 18,688 | $ 846 | $ 52 | $ 100 | 7,491,934 | (8,637,251) | (1,125,631) |
Balance, shares at Jul. 31, 2023 | 186,878,572 | 8,457,777 | 518,730 | 1,000,000 | |||
Preferred shares issued for accrued compensation | $ 118 | 44,453 | 44,571 | ||||
Preferred shares issued for accrued compensation, shares | 1,184,402 | ||||||
Conversion of related party debt to preferred shares | $ 28 | 565,009 | 565,037 | ||||
Conversion of related party debt to preferred shares, shares | 278,442 | ||||||
Preferred shares issued for FOMO beverage | $ 3 | 34,997 | 35,000 | ||||
Preferred shares issued for FOMO beverage, shares | 25,000 | ||||||
Common shares issued for accrued compensation | $ 869 | 12,102 | 12,971 | ||||
Common shares issued for accrued compensation, Shares | 8,694,853 | ||||||
Conversion of convertible debt into common shares | $ 4,632 | 68,811 | 73,443 | ||||
Conversion of convertible debt into common shares, Shares | 46,324,465 | ||||||
Common shares issued for acquistion of Trademark | $ 318 | 3,816 | 4,134 | ||||
Common shares issued for acquistion of Trademark, Shares | 3,180,000 | ||||||
Common shares issued in private placements | $ 3,600 | 32,400 | 36,000 | ||||
Common shares issued in private placements, Shares | 36,000,000 | ||||||
Recognition of warrants | 260,384 | 260,384 | |||||
Net income | (464,367) | (464,367) | |||||
Balance at Jan. 31, 2024 | $ 28,107 | $ 964 | $ 83 | $ 100 | $ 8,513,906 | $ (9,101,618) | $ (558,458) |
Balance, shares at Jan. 31, 2024 | 281,077,890 | 9,642,179 | 822,172 | 1,000,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Cash flows provided by (used for) operating activities: | ||
Net income (loss) | $ (464,367) | $ (412,292) |
Adjustments to resoncile net loss to net cash provided by (used for) operating activities: | ||
Amortization expense | 2,631 | 2,321 |
Gain on sale of oil and gas properties | (112,000) | |
Loss on debt conversions | 360,480 | |
Investment gain | (42,000) | |
Change in derivative liability | (257,187) | 280,674 |
Derivative expense | 24,220 | 64,937 |
Amortization of debt discount | 11,526 | 1,968 |
Shares/ Warrants issued for services | 260,384 | 45,000 |
Increase (decrease) in assets and liabilities: | ||
Accounts payable | 43,430 | 75,634 |
Accrued interest on loans payable | 8,045 | 13,910 |
Net cash used for operating activities | (52,838) | (39,848) |
Cash flows provided by (used for) Investing activities | ||
Payments for acquisitions of intangible assets | (3,250) | |
Payments of website design | (6,500) | (6,000) |
Net cash used for investing activities | (9,750) | (6,000) |
Cash flows provided by (used for) Financing activities | ||
Proceeds from private placement | 36,000 | |
Payment of related party loan | (129) | (20,863) |
Proceeds from loan from affiliate | 28,652 | |
Proceeds from non-related loans | 31,500 | 35,000 |
Net cash provided by financing activities | 67,371 | 42,789 |
Net (decrease) increase in cash | 4,783 | (3,059) |
Cash, beginning of period | 324 | 4,141 |
Cash, end of period | 5,107 | 1,082 |
Supplemental disclosure of cash flow information | ||
Cash paid for interest | ||
Cash paid for taxes | ||
Preferred stock issued for accrued compensation | 44,571 | 40,000 |
Common stock issued for accrued compensation | 12,971 | |
Common stock issued for debt | 73,443 | |
Common shares issued for acquistion of Trademark | 4,134 | |
Conversion of related party debt to preferred shares | 565,037 | |
Preferred shares issued for FOMO beverage | $ 35,000 |
ORGANIZATION
ORGANIZATION | 6 Months Ended |
Jan. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION | Note 1 – ORGANIZATION Himalaya Technologies, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on July 8, 2003. The Company’s principal historical activities had been the acquisition of a mineral property in the State of New Mexico. During the fiscal year ended July 31, 2010, the Company began to acquire working interests in a seismic exploration program as well as a drilling program in crude oil and natural gas properties in Oklahoma. Prior to July 31, 2019 the Company discontinued the exploration and drilling in Oklahoma and New Mexico. The Company previously had leases on two properties that were fully depleted prior to July 31, 2021. Over the past few years, the company generated approximately $ 1,500 On June 28, 2021 the Company amended its Articles of Incorporation to change the name of the Company to “Himalaya Technologies, Inc.” from “Homeland Resources Ltd.” The Company’s business plan includes completing a mainstream social site “Goccha!” to compete with mainstream social networks and benefit from potential disruption to the market caused by the Federal government planned ban on TikTok, develop additional social networks targeting niche vertical markets, the development of a FOMO healthy energy drink under notice of allowance for trademark by the USPTO, the launch of its ERC20 EVEREST crypto token, and developing and funding telehealth platform businesses. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jan. 31, 2024 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2023. In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of January 31, 2024 and the results of operations and cash flows for the three and six months ended January 31, 2024 and 2023. The results of operations for the three and six months ended January 31, 2024 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make certain 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. Significant estimates include accounts payable, the recoverability of long-term assets, and the valuation of derivative liabilities. Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) Consolidation The consolidated financial statements include the accounts and operations of the Company, and its wholly owned subsidiary, Everest Networks, Inc. (formerly KANAB CORP). All material intercompany transactions and accounts have been eliminated in the consolidation. Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt, and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows: Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s analyses of all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. The Company has recorded the conversion option on notes as a derivative liability because of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting. The Company recognizes derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of January 31, 2024: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) Total Level 1 Level 2 Level 3 Assets Investments 63,000 63,000 - - Total assets measured at fair value 63,000 63,000 - - Liabilities Derivative liability 263,822 - - 263,822 Total liabilities measured at fair value 263,822 263,822 Assets and liabilities measured at fair value are as follows as of July 31, 2023: Total Level 1 Level 2 Level 3 Assets Investments 21,000 21,000 - - Total assets measured at fair value 21,000 21,000 - - Liabilities Derivative liability 680,946 - - 680,946 Total liabilities measured at fair value 680,946 680,946 Earnings Per Share (EPS) During the three and six months ended January 31, 2024 and 2023, the Company generated no revenues and incurred substantial losses, of which the vast majority were due to mostly non-cash charges for accrued interest, penalties and derivative charges related to convertible debt instruments. Therefore, the effect of any common stock equivalents on EPS is anti-dilutive during those periods. Income Taxes On January 31, 2024, and July 31, 2023, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended July 31, 2023 and prior years or in computing its tax provisions for any years. Prior management considered its tax positions and believed that all of the positions taken by the Company in its Federal and State tax returns were more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. New management, which took control of the Company on June 21, 2021, is currently evaluating prior management’s decision to not file federal tax returns and plans on filing past returns and related 1099 filings for compensation paid to prior management, employees, consultants, contractors, and affiliates. The Company does not believe it has a material tax liability due to its operating losses in these periods but is preparing tax filings to bring itself current as it completes and moves forward on announced mergers and acquisitions. Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) Crude Oil and Natural Gas Properties During the year ended July 31, 2023, the Company reached an agreement with its former CEO to sell the Company’s interest in all of its crude oil and natural gas properties. The interest was sold on or around November 8, 2022. Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Codification (“ ASC” Stock-Based Compensation The Company accounts for all stock-based compensation using a fair value-based method. The fair value of equity-classified awards granted to employees is estimated on the date of the grant using the Black-Scholes option-pricing model and the related stock-based compensation expense is recognized over the vesting period during which an employee is required to provide service in exchange for the award. Intangible Assets The Company’s intangible assets include the Goccha! (formerly Kanab.Club) website, which was developed for external use. The Company carries these intangibles at cost, less accumulated amortization. Amortization is recorded on a straight-line basis over the estimated useful lives, estimated to be 5 years. Costs that are incurred to produce the finished product after technological feasibility has been established are capitalized as an intangible asset. The company performs periodic reviews to ensure that unamortized program costs remain recoverable from future revenue. Goodwill and Other Acquired Intangible Assets The Company initially records goodwill and other acquired intangible assets at their estimated fair values and reviews these assets periodically for impairment. Goodwill represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination and is tested at least annually for impairment, historically during our fourth quarter. Derivative Liabilities The Company assessed the classification of its derivative financial instruments as of January 31, 2024 and July 31, 2023, which consist of convertible instruments and warrants in the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Jan. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | Note 3 – GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate the continuation of the Company as a going concern. The Company reported an accumulated deficit of $ 9,101,618 690,612 359,371 163,053 Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) In view of the matters described, there is substantial doubt as to the Company’s ability to continue as a going concern without a significant infusion of capital. We anticipate that we will have to raise additional capital to fund operations over the next 12 months. To the extent that we are required to raise additional funds to acquire properties, and to cover costs of operations, we intend to do so through additional offerings of debt or equity securities. There are no commitments or arrangements for other offerings in place, no guaranties that any such financings would be forthcoming, or as to the terms of any such financings. Any future financing may involve substantial dilution to existing investors. |
ACQUISITION OF EVEREST NETWORKS
ACQUISITION OF EVEREST NETWORKS, INC. (formerly KANAB CORP.) | 6 Months Ended |
Jan. 31, 2024 | |
Business Combination and Asset Acquisition [Abstract] | |
ACQUISITION OF EVEREST NETWORKS, INC. (formerly KANAB CORP.) | Note 4 – ACQUISITION OF EVEREST NETWORKS, INC. (formerly KANAB CORP.) On July 31, 2021, the Company acquired 100 As consideration for the purchase, the Company issued 300,000 11,500 The following summarizes the acquired intangible assets: SCHEDULE OF ACQUIRED INTANGIBLE ASSETS January 31, July 31, 2024 2023 Intangible assets $ 30,300 $ 23,800 Accumulated amortization (11,781 ) (9,149 ) Intangible assets- net $ 18,519 $ 14,651 Note 5 - INVESTMENTS On June 12, 2023, the Company purchased 210,000,000 1,680,000 63,000 100,800 37,800 63,000 21,000 |
LOANS PAYABLE DUE TO RELATED PA
LOANS PAYABLE DUE TO RELATED PARTIES | 6 Months Ended |
Jan. 31, 2024 | |
Related Party Transactions [Abstract] | |
LOANS PAYABLE DUE TO RELATED PARTIES | Note 6 – LOANS PAYABLE DUE TO RELATED PARTIES On June 28, 2021, the Company received a loan of $ 25,000 100,000 45,319 38,290 30 38,028 20,087 278,442 Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) On May 10, 2023, the Company sold 100 17,017 100 100,000 |
CONVERTIBLE NOTE PAYABLES
CONVERTIBLE NOTE PAYABLES | 6 Months Ended |
Jan. 31, 2024 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTE PAYABLES | Note 7 - CONVERTIBLE NOTE PAYABLES The Company had convertible note payables with two third parties with stated interest rates ranging between 10 12 22 SCHEDULE OF CONVERTIBLE NOTES OUTSTANDING Lender Origination Maturity January 31, 2024 July 31, 2023 Interest GS Capital Partners LLC 6/29/21 6/29/22 $ 151,500 $ 145,500 24 % 1800 Diagonal Lending LLC 8/15/22 8/15/23 - 16,700 8 % 1800 Diagonal Lending LLC 8/15/22 8/15/23 31,500 - 9 % 177,000 162,200 Unamortized discount (23,629 ) - $ 153,371 $ 162,200 The convertible note for GS Capital Partners LLC converts at a price of 60 202,083,333 On August 15, 2022, the Company entered into a convertible note agreement 1800 Diagonal Lending LLC for $ 39,250 August 15, 2023 8 61 On November 1, 2023, the Company entered into a convertible note agreement 1800 Diagonal Lending LLC for $ 31,500 August 15, 2024 9 61 43,032,787 During the six months ended January 31, 2024, third-party lenders converted $ 18,720 46,324,465 The variables used for the Binomial model are as listed below: Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) SCHEDULE OF FAIR VALUE ASSUMPTION OF BLACK-SCHOLES MODEL January 31,2024 July 31, 2023 ● Volatility: 333 347 Volatility: 333 ● Risk free rate of return: 5.40 Risk free rate of return: 5.40 ● Expected term: 1 Expected term: 1 |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Jan. 31, 2024 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | Note 8 – INCOME TAXES The Company did not file its federal tax returns for fiscal years from 2012 through 2022. Management at year-end 2023 and 2022 believed that it should not have any material impact on the Company’s financials because the Company did not have any tax liabilities due to net loss incurred during these years. Based on the available information and other factors, management believes it is more likely than not that any potential net deferred tax assets on October 31, and July 31, 2023 will not be fully realizable. |
STOCKHOLDERS _EQUITY
STOCKHOLDERS ‘EQUITY | 6 Months Ended |
Jan. 31, 2024 | |
Equity [Abstract] | |
STOCKHOLDERS ‘EQUITY | Note 9 – STOCKHOLDERS ‘EQUITY Common Stock During the six months ended January 31, 2024, third-party lenders converted $ 18,720 46,324,465 During the six months ended January 31, 2024, the Company issued 8,694,853 10,000 During the six months ended January 31, 2024, the Company issued 3,180,000 4,134 During the six months ended January 31, 2024, the Company issued 36,000,000 36,000 Preferred Stock The preferred shares are in three classes: ● Class A shares which, 130,000,000 50 voting rights of 1 vote per share 9,642,179 8,457,777 482,108,950 422,888,850 ● Class B shares, 20,000,000 1,000 voting rights of 1,000 votes per share 822,172 518,730 822,172,000 518,730,000 Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) ● Class C shares, 1,000,000 1 voting rights of 100,000 votes per share 1,000,000 100,000,000,000 99,000,000 During the six months ended January 31, 2024, the Company issued 1,184,402 40,000 During the six months ended January 31, 2024, the Company issued 278,442 10,000 During the six months ended January 31, 2024, FOMO WORLDWIDE, INC. converted $ 38,028 20,087 278,442 Warrants On June 22, 2021, the Company issued 50,000,000 five-year .0001 10,000,000 On June 29, 2021, the Company issued 15,000,000 three-year 0.01 On June 28, 2021, the Company issued 50,000,000 five-year .0001 10,000,000 These FOMO Advisors LLC warrants were valued at $ 450,000 During the three months ended October 31, 2023, the Company was notified that FOMO Advisors, LLC ceased operations. As such, the Company recognized the remaining $ 260,384 During the quarter ended April 30, 2023, FOMO Advisors, LLC exercised 100,000,000 2,000,000 10,000 260,384 On January 22, 2024, the Company appointed Ron Zilkowski, CPA, MBA to its Advisory Board. The Company issued Mr. Zilkowski 20,000,000 three-year The warrants were valued at $ 25,944 On January 23, 2024, the Company appointed Debbie Wildrick to its Advisory Board to guide and consult on the launch of health energy drink under the “FOMO” brand. The Company issued Ms. Wildrick 20,000,000 three-year The warrants were valued at $ 27,942 Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) The Company estimates the fair value of each award on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the table below. Since Black-Scholes option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Expected volatilities are based on the historical volatility of the Company’s stock. The Company uses historical data to estimate award exercise and employee termination within the valuation model, whereby separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of granted awards is derived from the output of the option valuation model and represents the period of time that granted awards are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the award is based on the U.S. Treasury yield curve in effect at the time of grant. The following are the assumptions utilized in valuing the warrants: SCHEDULE OF ASSUMPTIONS UTILIZED IN VALUING WARRANTS Volatility 465 % Expected life 3 5 Risk free rate 3 5.4 % Dividend yield 0 % The following table sets forth common share purchase warrants outstanding as of January 31, 2024 and July 31, 2023: SCHEDULE OF PURCHASE WARRANTS OUTSTANDING Weighted Intrinsic Warrants Exercise Price Value Outstanding, July 31, 2022 65,000,000 0.0024 105,000 Warrants granted - - - Warrants exercised (50,000,000 ) - - Warrants forfeited - - - Outstanding, July 31, 2023 15,000,000 0.01 - Warrants granted 40,000,000 0.01 - Warrants exercised - - - Warrants forfeited - - - Outstanding, January 31, 2024 55,000,000 $ 0.01 $ - |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jan. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 10 – COMMITMENTS AND CONTINGENCIES On August 1, 2021, the Board of Directors approved compensation to Vikram Grover CEO of $ 10,000 2,500 7,500 5,000 5,000 During the three months ended October 31, 2023, the Company accrued $ 30,000 30,000 940,594 During the six months ended January 31, 2024, the Company accrued $ 60,000 50,000 278,442 8,694,853 Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) On January 24, 2024, the Company, along with FOMO WORLDWIDE, INC. signed a six month lease for $ 5,625 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jan. 31, 2024 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | Note 11 – SUBSEQUENT EVENTS On February 12, 2024, we appointed Charles Nahabedian to our Advisory Board to guide and consult on our launch of telehealth products and services including smart kiosks and smart chairs. Mr. Nahabedian has spent over 55 years in the telecommunications industry, mostly with Fortune 100 companies, where he developed and managed the realization of innovative systems and services both in international and domestic markets. The Advisory Board Agreement includes w 20,000,000 .001 three-year On February 10, 2024, we offered to invest in a developer and provider of artificial intelligence (“AI”)-based early cancer detection technology and services utilizing several dozen unique tests for lung cancer, breast cancer, and other cancerous diseases. We have offered a minority ownership position of our equity capitalization to the Target in exchange for an exclusive license to resell testing services to the smart kiosk and smart chair markets in the telehealth, emergency medical clinic, K12, college and university, nursing home, retirement community, municipal government, big box, and grocery store markets. Additionally, we are negotiating an option to buy 5 500 On February 11, 2024, we offered to exchange a minority ownership of our equity capitalization for a like stake in a manufacturer of patented smart kiosks and smart chairs designed for the telehealth, emergency medical clinic, K12, college and university, nursing home, retirement community, municipal government, big box, and grocery store markets. Additionally, we are negotiating a dealer, reseller, or master agent agreement to directly offer the products along with AI-driven disease detection services. Subject to regulatory and legal review, we intend to spin-out/spin-off the Target to our shareholders or merge with the Target to align our Companies’ strategic interests. On March 10, 2024, we partnered with Renovi Recovery SRL (“Renovi!”), a real estate development Company based in Santo Domingo, Dominican Republic (“DR”), to finance the development of a medical tourism resort in the #1 tourist destination in the Caribbean, the Dominican Republic. For this work, we will be paid finder fees, stock options, and shares in Renovi! We are also exploring merging some or all of the project into our Company. Additionally, the Company has appointed Renovi!’s CEO, David Burns, Ph.D., to its Advisory Board to guide its entry into this multi-billion dollar market, assist on mergers and acquisitions including a potential combination of Renovi! with Himalaya, and provide management consulting. The Advisory Board Agreement includes 20,000,000 .001 three-year |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jan. 31, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation | 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 (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2023. In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of January 31, 2024 and the results of operations and cash flows for the three and six months ended January 31, 2024 and 2023. The results of operations for the three and six months ended January 31, 2024 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make certain 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. Significant estimates include accounts payable, the recoverability of long-term assets, and the valuation of derivative liabilities. Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) |
Consolidation | Consolidation The consolidated financial statements include the accounts and operations of the Company, and its wholly owned subsidiary, Everest Networks, Inc. (formerly KANAB CORP). All material intercompany transactions and accounts have been eliminated in the consolidation. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt, and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows: Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s analyses of all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. The Company has recorded the conversion option on notes as a derivative liability because of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting. The Company recognizes derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of January 31, 2024: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) Total Level 1 Level 2 Level 3 Assets Investments 63,000 63,000 - - Total assets measured at fair value 63,000 63,000 - - Liabilities Derivative liability 263,822 - - 263,822 Total liabilities measured at fair value 263,822 263,822 Assets and liabilities measured at fair value are as follows as of July 31, 2023: Total Level 1 Level 2 Level 3 Assets Investments 21,000 21,000 - - Total assets measured at fair value 21,000 21,000 - - Liabilities Derivative liability 680,946 - - 680,946 Total liabilities measured at fair value 680,946 680,946 |
Earnings Per Share (EPS) | Earnings Per Share (EPS) During the three and six months ended January 31, 2024 and 2023, the Company generated no revenues and incurred substantial losses, of which the vast majority were due to mostly non-cash charges for accrued interest, penalties and derivative charges related to convertible debt instruments. Therefore, the effect of any common stock equivalents on EPS is anti-dilutive during those periods. |
Income Taxes | Income Taxes On January 31, 2024, and July 31, 2023, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended July 31, 2023 and prior years or in computing its tax provisions for any years. Prior management considered its tax positions and believed that all of the positions taken by the Company in its Federal and State tax returns were more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. New management, which took control of the Company on June 21, 2021, is currently evaluating prior management’s decision to not file federal tax returns and plans on filing past returns and related 1099 filings for compensation paid to prior management, employees, consultants, contractors, and affiliates. The Company does not believe it has a material tax liability due to its operating losses in these periods but is preparing tax filings to bring itself current as it completes and moves forward on announced mergers and acquisitions. |
Risks and Uncertainties | Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) |
Crude Oil and Natural Gas Properties | Crude Oil and Natural Gas Properties During the year ended July 31, 2023, the Company reached an agreement with its former CEO to sell the Company’s interest in all of its crude oil and natural gas properties. The interest was sold on or around November 8, 2022. |
Revenue Recognition | Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Codification (“ ASC” |
Stock-Based Compensation | Stock-Based Compensation The Company accounts for all stock-based compensation using a fair value-based method. The fair value of equity-classified awards granted to employees is estimated on the date of the grant using the Black-Scholes option-pricing model and the related stock-based compensation expense is recognized over the vesting period during which an employee is required to provide service in exchange for the award. |
Intangible Assets | Intangible Assets The Company’s intangible assets include the Goccha! (formerly Kanab.Club) website, which was developed for external use. The Company carries these intangibles at cost, less accumulated amortization. Amortization is recorded on a straight-line basis over the estimated useful lives, estimated to be 5 years. Costs that are incurred to produce the finished product after technological feasibility has been established are capitalized as an intangible asset. The company performs periodic reviews to ensure that unamortized program costs remain recoverable from future revenue. |
Goodwill and Other Acquired Intangible Assets | Goodwill and Other Acquired Intangible Assets The Company initially records goodwill and other acquired intangible assets at their estimated fair values and reviews these assets periodically for impairment. Goodwill represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination and is tested at least annually for impairment, historically during our fourth quarter. |
Derivative Liabilities | Derivative Liabilities The Company assessed the classification of its derivative financial instruments as of January 31, 2024 and July 31, 2023, which consist of convertible instruments and warrants in the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Jan. 31, 2024 | |
Accounting Policies [Abstract] | |
SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES | The Company recognizes derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of January 31, 2024: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) Total Level 1 Level 2 Level 3 Assets Investments 63,000 63,000 - - Total assets measured at fair value 63,000 63,000 - - Liabilities Derivative liability 263,822 - - 263,822 Total liabilities measured at fair value 263,822 263,822 Assets and liabilities measured at fair value are as follows as of July 31, 2023: Total Level 1 Level 2 Level 3 Assets Investments 21,000 21,000 - - Total assets measured at fair value 21,000 21,000 - - Liabilities Derivative liability 680,946 - - 680,946 Total liabilities measured at fair value 680,946 680,946 |
ACQUISITION OF EVEREST NETWOR_2
ACQUISITION OF EVEREST NETWORKS, INC. (formerly KANAB CORP.) (Tables) | 6 Months Ended |
Jan. 31, 2024 | |
Business Combination and Asset Acquisition [Abstract] | |
SCHEDULE OF ACQUIRED INTANGIBLE ASSETS | The following summarizes the acquired intangible assets: SCHEDULE OF ACQUIRED INTANGIBLE ASSETS January 31, July 31, 2024 2023 Intangible assets $ 30,300 $ 23,800 Accumulated amortization (11,781 ) (9,149 ) Intangible assets- net $ 18,519 $ 14,651 |
CONVERTIBLE NOTE PAYABLES (Tabl
CONVERTIBLE NOTE PAYABLES (Tables) | 6 Months Ended |
Jan. 31, 2024 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF CONVERTIBLE NOTES OUTSTANDING | SCHEDULE OF CONVERTIBLE NOTES OUTSTANDING Lender Origination Maturity January 31, 2024 July 31, 2023 Interest GS Capital Partners LLC 6/29/21 6/29/22 $ 151,500 $ 145,500 24 % 1800 Diagonal Lending LLC 8/15/22 8/15/23 - 16,700 8 % 1800 Diagonal Lending LLC 8/15/22 8/15/23 31,500 - 9 % 177,000 162,200 Unamortized discount (23,629 ) - $ 153,371 $ 162,200 |
SCHEDULE OF FAIR VALUE ASSUMPTION OF BLACK-SCHOLES MODEL | The variables used for the Binomial model are as listed below: Himalaya Technologies, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS JANUARY 31, 2024 AND 2023 (UNAUDITED) SCHEDULE OF FAIR VALUE ASSUMPTION OF BLACK-SCHOLES MODEL January 31,2024 July 31, 2023 ● Volatility: 333 347 Volatility: 333 ● Risk free rate of return: 5.40 Risk free rate of return: 5.40 ● Expected term: 1 Expected term: 1 |
STOCKHOLDERS _EQUITY (Tables)
STOCKHOLDERS ‘EQUITY (Tables) | 6 Months Ended |
Jan. 31, 2024 | |
Equity [Abstract] | |
SCHEDULE OF ASSUMPTIONS UTILIZED IN VALUING WARRANTS | The following are the assumptions utilized in valuing the warrants: SCHEDULE OF ASSUMPTIONS UTILIZED IN VALUING WARRANTS Volatility 465 % Expected life 3 5 Risk free rate 3 5.4 % Dividend yield 0 % |
SCHEDULE OF PURCHASE WARRANTS OUTSTANDING | The following table sets forth common share purchase warrants outstanding as of January 31, 2024 and July 31, 2023: SCHEDULE OF PURCHASE WARRANTS OUTSTANDING Weighted Intrinsic Warrants Exercise Price Value Outstanding, July 31, 2022 65,000,000 0.0024 105,000 Warrants granted - - - Warrants exercised (50,000,000 ) - - Warrants forfeited - - - Outstanding, July 31, 2023 15,000,000 0.01 - Warrants granted 40,000,000 0.01 - Warrants exercised - - - Warrants forfeited - - - Outstanding, January 31, 2024 55,000,000 $ 0.01 $ - |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) | 6 Months Ended |
Jan. 31, 2024 USD ($) | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Revenues | $ 1,500 |
SCHEDULE OF FAIR VALUE OF ASSET
SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES (Details) - USD ($) | Jan. 31, 2024 | Jul. 31, 2023 |
Platform Operator, Crypto-Asset [Line Items] | ||
Investments | $ 63,000 | $ 21,000 |
Total assets measured at fair value | 63,000 | 21,000 |
Derivative liability | 263,822 | 680,946 |
Total liabilities measured at fair value | 263,822 | 680,946 |
Fair Value, Inputs, Level 1 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Investments | 63,000 | 21,000 |
Total assets measured at fair value | 63,000 | 21,000 |
Derivative liability | ||
Fair Value, Inputs, Level 2 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Investments | ||
Total assets measured at fair value | ||
Derivative liability | ||
Fair Value, Inputs, Level 3 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Investments | ||
Total assets measured at fair value | ||
Derivative liability | 263,822 | 680,946 |
Total liabilities measured at fair value | $ 263,822 | $ 680,946 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Accumulated deficit | $ 9,101,618 | $ 9,101,618 | $ 8,637,251 | ||
Working capital | 690,612 | 690,612 | |||
Operating losses | $ 63,451 | $ 81,336 | $ 359,371 | $ 163,053 |
SCHEDULE OF ACQUIRED INTANGIBLE
SCHEDULE OF ACQUIRED INTANGIBLE ASSETS (Details) - USD ($) | Jan. 31, 2024 | Jul. 31, 2023 |
Business Acquisition [Line Items] | ||
Intangible assets- net | $ 18,520 | $ 14,651 |
Kanab Corp [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets | 30,300 | 23,800 |
Accumulated amortization | (11,781) | (9,149) |
Intangible assets- net | $ 18,519 | $ 14,651 |
ACQUISITION OF EVEREST NETWOR_3
ACQUISITION OF EVEREST NETWORKS, INC. (formerly KANAB CORP.) (Details Narrative) - USD ($) | 6 Months Ended | |||
Jun. 12, 2023 | Jul. 31, 2021 | Jan. 31, 2024 | Jul. 31, 2023 | |
Business Acquisition [Line Items] | ||||
Converted value of preferred shares | $ 73,443 | |||
Fomo World wide Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Common stock purchased | 210,000,000 | |||
Number of shares issued | 1,680,000 | |||
Fair value of investment | $ 63,000 | |||
Loss on acquisition of investments | 37,800 | |||
Investment, value | $ 63,000 | $ 21,000 | ||
Fomo World wide Inc [Member] | Series A Preferred Stock [Member] | ||||
Business Acquisition [Line Items] | ||||
Converted value of preferred shares | $ 100,800 | |||
Kanab Corp [Member] | ||||
Business Acquisition [Line Items] | ||||
Ownership percentage acquired | 100% | |||
Shares issued for purchase of Kanab Corp, shares | 300,000 | |||
Development costs period cost | $ 11,500 |
LOANS PAYABLE DUE TO RELATED _2
LOANS PAYABLE DUE TO RELATED PARTIES (Details Narrative) - USD ($) | 6 Months Ended | ||||||
May 10, 2023 | Jan. 31, 2024 | Oct. 31, 2023 | Jul. 31, 2023 | Jun. 15, 2023 | Oct. 31, 2022 | Jun. 28, 2021 | |
Related Party Transaction [Line Items] | |||||||
Loan from affiliate | $ 3,000 | $ 41,157 | |||||
Kanab Corp [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Sale of stock percentage | 100% | ||||||
Debt instrument, partial forgiveness | $ 17,017 | ||||||
Percentage of return on acquired loaned business | 100% | ||||||
Series B Preferred Stock [Member] | Kanab Corp [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Number of shares issued | 100,000 | ||||||
Fomo World wide Inc [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Loan received | $ 25,000 | ||||||
Credit line | $ 100,000 | ||||||
Loan from affiliate | $ 45,319 | $ 38,290 | |||||
Debt instrument conversion rate | 30% | ||||||
Debt conversion of amount | $ 38,028 | ||||||
Accrued interest | $ 20,087 | ||||||
Fomo World wide Inc [Member] | Series B Preferred Stock [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Debt conversion of shares | 278,442 |
SCHEDULE OF CONVERTIBLE NOTES O
SCHEDULE OF CONVERTIBLE NOTES OUTSTANDING (Details) - USD ($) | 6 Months Ended | |
Jan. 31, 2024 | Jul. 31, 2023 | |
Short-Term Debt [Line Items] | ||
Convertible notes | $ 177,000 | $ 162,200 |
Unamortized discount | (23,629) | |
Unamortized discount total | $ 153,371 | 162,200 |
GS Capital Partners LLC [Member] | ||
Short-Term Debt [Line Items] | ||
Lender | GS Capital Partners LLC | |
Origination | Jun. 29, 2021 | |
Maturity | Jun. 29, 2022 | |
Convertible notes | $ 151,500 | 145,500 |
Interest | 24% | |
1800 Diagonal Lending LLC [Member] | ||
Short-Term Debt [Line Items] | ||
Lender | 1800 Diagonal Lending LLC | |
Origination | Aug. 15, 2022 | |
Maturity | Aug. 15, 2023 | |
Convertible notes | 16,700 | |
Interest | 8% | |
1800 Diagonal Lending LLC One [Member] | ||
Short-Term Debt [Line Items] | ||
Lender | 1800 Diagonal Lending LLC | |
Origination | Aug. 15, 2022 | |
Maturity | Aug. 15, 2023 | |
Convertible notes | $ 31,500 | |
Interest | 9% |
SCHEDULE OF FAIR VALUE ASSUMPTI
SCHEDULE OF FAIR VALUE ASSUMPTION OF BLACK-SCHOLES MODEL (Details) | 6 Months Ended | 12 Months Ended |
Jan. 31, 2024 | Jul. 31, 2023 | |
Measurement Input, Price Volatility [Member] | ||
Debt Instrument [Line Items] | ||
Debt measurement input | 333 | |
Measurement Input, Price Volatility [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt measurement input | 333 | |
Measurement Input, Price Volatility [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt measurement input | 347 | |
Measurement Input, Risk Free Interest Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt measurement input | 5.40 | 5.40 |
Measurement Input, Expected Term [Member] | ||
Debt Instrument [Line Items] | ||
Expected term | 1 year | 1 year |
CONVERTIBLE NOTE PAYABLES (Deta
CONVERTIBLE NOTE PAYABLES (Details Narrative) - USD ($) | 6 Months Ended | ||
Nov. 01, 2023 | Aug. 15, 2022 | Jan. 31, 2024 | |
Third Party Lender [Member] | |||
Short-Term Debt [Line Items] | |||
Debt conversion of common stock, shares | 46,324,465 | ||
Debt conversion of amount | $ 18,720 | ||
Convertible Note Agreement [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 9% | 8% | |
Debt conversion of common stock, shares | 43,032,787 | ||
Convertible debt | $ 31,500 | $ 39,250 | |
Debt maturity date | Aug. 15, 2024 | Aug. 15, 2023 | |
Debt instrument convertible threshold percentage | 61% | 61% | |
GS Capital Partners LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 24% | ||
Debt conversion percentage | 60% | ||
Debt conversion of common stock, shares | 202,083,333 | ||
Debt maturity date | Jun. 29, 2022 | ||
Third Party One [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 10% | ||
Third Party Two [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 12% | ||
Third Party Three [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 22% |
SCHEDULE OF ASSUMPTIONS UTILIZE
SCHEDULE OF ASSUMPTIONS UTILIZED IN VALUING WARRANTS (Details) | Jan. 31, 2024 |
Minimum [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Expected life | 3 years |
Maximum [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Expected life | 5 years |
Measurement Input, Price Volatility [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants measurement input | 465 |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants measurement input | 3 |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants measurement input | 5.4 |
Measurement Input, Expected Dividend Rate [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants measurement input | 0 |
SCHEDULE OF PURCHASE WARRANTS O
SCHEDULE OF PURCHASE WARRANTS OUTSTANDING (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jan. 31, 2024 | Jul. 31, 2023 | |
Equity [Abstract] | ||
Number of warrants, outstanding, balance, beginning | 15,000,000 | 65,000,000 |
Weighted average exercise price, Beginning | $ 0.01 | $ 0.0024 |
Weighted average intrinsic value, beginning | $ 105,000 | |
Number of warrants, granted | 40,000,000 | |
Weighted average exercise price, granted | $ 0.01 | |
Number of warrants, exercised | (50,000,000) | |
Weighted average exercise price, exercised | ||
Number of warrants, forfeited | ||
Weighted average exercise price, forfeited | ||
Number of warrants, outstanding, balance, ending | 55,000,000 | 15,000,000 |
Weighted average exercise price, ending | $ 0.01 | $ 0.01 |
Weighted average intrinsic value, ending |
STOCKHOLDERS _EQUITY (Details N
STOCKHOLDERS ‘EQUITY (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||||
Oct. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | Jan. 23, 2024 | Jan. 22, 2024 | Jul. 31, 2023 | Apr. 30, 2023 | Jul. 31, 2022 | Jun. 29, 2021 | Jun. 28, 2021 | Jun. 22, 2021 | |
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Shares issued for acquire | $ 4,134 | ||||||||||
Issuance of stock and warrants | 260,384 | $ 45,000 | |||||||||
Fomo World wide Inc [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Debt conversion of amount | 38,028 | ||||||||||
Accrued interest | 20,087 | ||||||||||
Ron Zilkowski [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Warrant issued | 20,000,000 | ||||||||||
Warrants and rights outstanding, term | 3 years | ||||||||||
Debbie Wildricki [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Warrant issued | 20,000,000 | ||||||||||
Warrants and rights outstanding, term | 3 years | ||||||||||
Warrants unrecognized | $ 27,942 | ||||||||||
Preferred Stock [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Preferred stock, shares authorized for future | 99,000,000 | 99,000,000 | |||||||||
Preferred Class A [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Conversion of accrued compensation | $ 30,000 | ||||||||||
Preferred stock, shares authorized | 130,000,000 | 130,000,000 | |||||||||
Conversion of common stock, shares | 50 | ||||||||||
Preferred stock voting rights | voting rights of 1 vote per share | ||||||||||
Preferred Stock, Shares Issued | 9,642,179 | 8,457,777 | |||||||||
Preferred stock, shares outstanding | 9,642,179 | 8,457,777 | |||||||||
Preferred stock shares votes | 482,108,950 | 422,888,850 | |||||||||
Preferred Class A [Member] | Preferred Stock [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Shares issued for acquire | |||||||||||
Number of new shares issued | 1,184,402 | ||||||||||
Preferred Class B [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Conversion of accrued compensation | $ 60,000 | ||||||||||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | |||||||||
Conversion of common stock, shares | 1,000 | ||||||||||
Preferred stock voting rights | voting rights of 1,000 votes per share | ||||||||||
Preferred Stock, Shares Issued | 822,172 | 518,730 | |||||||||
Preferred stock, shares outstanding | 822,172 | 518,730 | |||||||||
Preferred stock shares votes | 822,172,000 | 518,730,000 | |||||||||
Preferred Class B [Member] | Preferred Stock [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Shares issued for accrued compensation, shares | 9,090 | ||||||||||
Shares issued for acquire | |||||||||||
Preferred Class C [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | |||||||||
Conversion of common stock, shares | 1 | ||||||||||
Preferred stock voting rights | voting rights of 100,000 votes per share | ||||||||||
Preferred Stock, Shares Issued | 1,000,000 | 1,000,000 | |||||||||
Preferred stock, shares outstanding | 1,000,000 | 1,000,000 | |||||||||
Preferred stock shares votes | 100,000,000,000 | 100,000,000,000 | |||||||||
Preferred Class C [Member] | Preferred Stock [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Shares issued for acquire | |||||||||||
Series B Preferred Stock [Member] | Fomo World wide Inc [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Debt conversion of shares | 278,442 | ||||||||||
Private Placement [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Shares of common stock | 36,000,000 | ||||||||||
Proceeds of common stock | $ 36,000 | ||||||||||
FOMO Beverage [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Shares issued for acquire, shares | 3,180,000 | ||||||||||
Shares issued for acquire | $ 4,134 | ||||||||||
FOMOCROP [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Warrant issued | 50,000,000 | ||||||||||
Warrants and rights outstanding, term | 5 years | ||||||||||
Exercise price per share warrants | $ 0.0001 | ||||||||||
FOMOCROP [Member] | Series A Preferred Stock [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Warrant purchased | 10,000,000 | ||||||||||
GS Capital Group [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Warrant issued | 15,000,000 | ||||||||||
Warrants and rights outstanding, term | 3 years | ||||||||||
Exercise price per share warrants | $ 0.01 | ||||||||||
FOMO Advisors LLC [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Warrant issued | 50,000,000 | ||||||||||
Exercise price per share warrants | $ 0.0001 | ||||||||||
Warrant purchased | 100,000,000 | ||||||||||
Issuance of stock and warrants | 450,000 | ||||||||||
Warrants unrecognized | $ 260,384 | 260,384 | |||||||||
Line of credit | $ 10,000 | ||||||||||
FOMO Advisors LLC [Member] | Ron Zilkowski [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Warrants unrecognized | 25,944 | ||||||||||
FOMO Advisors LLC [Member] | Series A Preferred Stock [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Warrant purchased | 10,000,000 | 2,000,000 | |||||||||
Third Party Lender [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Debt conversion of amount | $ 18,720 | ||||||||||
Debt conversion of shares | 46,324,465 | ||||||||||
Chief Executive Officer [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Shares issued for accrued compensation, shares | 8,694,853 | ||||||||||
Conversion of accrued compensation | $ 10,000 | ||||||||||
Chief Executive Officer [Member] | Preferred Class A [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Conversion of accrued compensation | $ 40,000 | ||||||||||
Number of new shares issued | 1,184,402 | ||||||||||
Chief Executive Officer [Member] | Preferred Class B [Member] | |||||||||||
Subsidiary, Sale of Stock [Line Items] | |||||||||||
Conversion of accrued compensation | $ 10,000 | ||||||||||
Number of new shares issued | 278,442 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jan. 24, 2024 | Oct. 31, 2023 | Jan. 31, 2024 | Aug. 01, 2021 | |
Monthly lease | $ 5,625 | |||
Common Stock [Member] | ||||
Converison of stock, shares issued | 8,694,853 | |||
Preferred Class A [Member] | ||||
Compensation expense | $ 30,000 | |||
Accrued compensation expense | $ 30,000 | |||
Converison of stock, shares issued | 940,594 | |||
Preferred Class B [Member] | ||||
Compensation expense | $ 60,000 | |||
Accrued compensation expense | $ 50,000 | |||
Converison of stock, shares issued | 278,442 | |||
Chief Executive Officer [Member] | ||||
Employee related liabilities | $ 10,000 | |||
Employee related liabilities noncurrent | 2,500 | |||
Employee related liabilities in shares, noncurrent | 7,500 | |||
Employee related liabilities current | 5,000 | |||
Employee related liabilities in shares current | $ 5,000 | |||
Compensation expense | $ 10,000 | |||
Chief Executive Officer [Member] | Preferred Class A [Member] | ||||
Compensation expense | 40,000 | |||
Chief Executive Officer [Member] | Preferred Class B [Member] | ||||
Compensation expense | $ 10,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Advisory Board Agreement [Member] - Subsequent Event [Member] € in Millions | Feb. 10, 2024 EUR (€) | Mar. 10, 2024 $ / shares shares | Feb. 12, 2024 $ / shares shares |
Subsequent Event [Line Items] | |||
Warrants outstanding | shares | 20,000,000 | 20,000,000 | |
Warrants strike price | $ / shares | $ 0.001 | $ 0.001 | |
Warrants and rights outstanding, term | 3 years | 3 years | |
Option to buy value | 5% | ||
Option to buy value | € | € 500 |