Golden Matrix (GMGI) 10-Q 17 Mar 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jan. 31, 2017	Mar. 13, 2017
Document And Entity Information
Entity Registrant Name	Golden Matrix Group, Inc.
Entity Central Index Key	1,437,925
Document Type	10-Q
Document Period End Date	Jan. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		70,387,906
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jan. 31, 2017	Jul. 31, 2016
Current assets:
Cash and cash equivalents	$ 13,797	$ 2,296
Accounts receivable - related party	22,500	10,000
Total current assets	36,297	12,296
TOTAL ASSETS	36,297	12,296
Current liabilities:
Accounts payable and accrued liabilities	38,154	35,945
Accounts payable - related party	241,135	78,447
Advances from shareholders	1,000	1,000
Accrued interest	122,073	259,169
Notes payable, net of discount	85,999	1,163,569
Convertible notes payable , net - in default	100,245	515,845
Convertible notes payable - related party	795,712
Derivative liabilities - note conversion features	648,370	1,939,753
Total Current liabilities	2,032,638	3,993,738
TOTAL LIABILITIES	2,032,638	3,993,738
Shareholder's equity (deficit):
Common stock: $0.00001 par value; 2,480,000,000 shares authorized; 48,587,906 and 2,597,806 shares issued and outstanding, respectively	486	26
Additional paid in capital	25,265,283	24,709,565
Stock payable	3,360
Accumulated other comprehensive loss	(683)	(683)
Retained earnings (accumulated deficit)	(27,264,786)	(28,690,350)
Total shareholders' equity (deficit)	(1,996,341)	(3,981,442)
TOTAL LIABILITIES & STOCKHOLDERS EQUITY (DEFICIT)	36,297	12,296
Series A Preferred Stock [Member]
Shareholder's equity (deficit):
Preferred stock, value
Series B Preferred Stock [Member]
Shareholder's equity (deficit):
Preferred stock, value

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2017	Dec. 05, 2016	Jul. 31, 2016	Jan. 31, 2016	Dec. 07, 2015	Nov. 06, 2015	Oct. 31, 2015	Oct. 15, 2015	Aug. 14, 2015	Aug. 10, 2015
Common stock, par value	$ 0.00001		$ 0.00001
Common stock, shares authorized	2,480,000,000	19,866,667	2,480,000,000
Common stock, shares issued	48,587,906		2,597,806		223	223		3,472,433,130
Common stock, shares outstanding	48,587,906		2,597,806					3,472,433,130
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.00001		$ 0.00001
Preferred stock, shares authorized	19,999,000		19,999,000
Preferred stock, shares issued	0		0				0
Preferred stock, shares outstanding	0		0				0
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.00001		$ 0.00001
Preferred stock, shares authorized	1,000		1,000							1,000
Preferred stock, shares issued	1,000		1,000	1,000			1,000		1,000
Preferred stock, shares outstanding	1,000		1,000	1,000			1,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016
Consolidated Statements Of Operations And Comprehensive Loss
Sales- related party	$ 30,000		$ 60,000
Costs and expenses:
Accounting and audit fees	27,400	1,836	32,400	5,428
Amortization expense		9,649		9,649
G&A expenses	50,155	565,714	50,299	781,714
G&A expenses- related party	59,702		132,286
Management fees		60,000		90,000
Professional fees	13,958	5,518	23,902	7,164
Total operating expenses	(151,215)	(642,717)	(238,887)	(893,954)
Loss from operations	(121,215)	(642,717)	(178,887)	(893,954)
Other income (expense):
Other income		21,151		21,151
Gain on extinguishment of debt			806,867
Fair value change of derivative liability	337,172	(19,523)	1,144,313	175,399
Interest on convertible notes	(46,066)	(1,017,539)	(346,729)	(2,593,106)
Total other income (expense)	291,106	(1,015,910)	1,604,451	(2,396,555)
Net Income (Loss)	$ 169,891	$ (1,658,627)	$ 1,425,564	$ (3,290,509)
Weighted average number of common shares outstanding -Basic	9,935,555	615,289	7,472,027	313,432
Weighted average number of common shares outstanding -Diluted	252,443,800	615,289	248,410,283	313,432
Net income/(loss) per common share - Basic	$ 0.02	$ (2.70)	$ 0.19	$ (10.50)
Net income/(loss) per common share - Dilutied	$ 0		$ 0.01

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Operating activities:
Net Income (Loss)	$ 1,425,564	$ (3,290,509)
Adjustment to reconcile net loss to net cash in operating activities
Amortization expense	303,170	2,394,699
Gain from change in fair value of derivative liability	(1,144,313)	(175,399)
Gain on extinguishment of debt	(806,867)
Changes in assets and liabilities:
(Increase) decrease in accounts receivable	(12,500)
(Increase) decrease in loans receivable		13,576
(Decrease) increase in accounts payable and accrued liabilities	4,427	(22,136)
(Decrease) increase in accounts payable - related party	162,688
(Decrease) increase in accrued interest	41,332	208,056
Net cash provided (used) in operating activities	(26,499)	(871,714)
Investing activities:
Purchase of intangible assets		(140,351)
Net cash flows used in investing activities		(140,351)
Financing activities:
Bank overdraft		35
Proceeds from convertible notes payable	38,000	845,000
Due to related party		12,000
Proceeds from loan payable		5,030
Common stock issued for asset purchase		150,000
Net cash provided by financing activities	38,000	1,012,065
Change in cash and cash equivalents	11,501
Cash and cash equivalents at the beginning of the period	2,296
Cash and cash equivalents at the end of the period	13,797
Supplementary disclosure for non-cash investing and financing activities
Common stock issued for conversion of debt	559,538	60,971
Debt discount from derivative liability	$ 38,000	$ 1,375,000

Basis Of Presentation And Accou

Basis Of Presentation And Accounting Policies	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 1 - BASIS OF PRESENTATION AND ACCOUNTING POLICIES	Golden Matrix Group, Inc. (“GMGI” or “Company”) was incorporated in the State of Nevada on June 4, 2008, under the name Ibex Resources Corp. The Company business at the time was mining and exploration of mineral properties. On August 31, 2009, the Company changed its name to Source Gold Corp. in order to reflect the focus of the Company. In April 2016, the Company changed its name to Golden Matrix Group, Inc., reflected the changing direction of the Company business to software technology. The accompanying unaudited interim consolidated financial statements of Golden Matrix Group, Inc. (“GMGI” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s annual report for the year ended July 31, 2016 on Form 10-K filed on November 15, 2016. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the consolidated financial statements which would substantially duplicate the disclosure contained in the audited consolidated financial statements for the most recent fiscal year ended July 31, 2016 have been omitted. Use of Estimates The preparation of 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 amounts of assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates. Cash and Cash Equivalents For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value. Revenues Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collectability is probable. Foreign Currency Translation The Company’s functional currency is the US dollar as a substantial part of the Company’s operations is based in Arizona. IRC’s and NBI’s functional currency is the Canadian dollar. The functional currency of SB and Vulture is the US dollar as its activities are in the USA. The Company uses the United States dollar as its reporting currency for consistency with registrants of the Securities and Exchange Commission (“SEC”). Assets and liabilities denominated in a foreign currency are translated into US dollar reporting currency at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses are included in other comprehensive loss. Diluted and Basic Loss per Share Basic loss per share is computed using the weighted average number of shares outstanding during the period. Diluted earnings per share are computed similar to basic income per share except that the denominator is increased to include the number of c. Common stock equivalents represent the dilutive effect of the assumed exercise of any outstanding stock equivalents, using the treasury stock method, at either the beginning of the respective period presented or the date of issuance, whichever is later, and only if the common stock equivalents are considered dilutive based upon the Company’s net income (loss) position at the calculation date. Derivative Instruments We review the terms of the common stock, warrants and convertible debt we issue to determine whether there are embedded derivative instruments, including embedded conversion options, which are required to be bifurcated and accounted for separately as derivative financial instruments. In circumstances where the host instrument contains more than one embedded derivative instrument, including the conversion option, that is required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. Bifurcated embedded derivatives are initially recorded at fair value and are then revalued at each reporting date with changes in the fair value reported as non-operating income or expense. When the equity or convertible debt instruments contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds received are first allocated to the fair value of all the bifurcated derivative instruments. The remaining proceeds, if any are then allocated to the host instruments themselves, usually resulting in those instruments being recorded as a discount from their face value. Derivatives are measured at their fair value on the balance sheet. Changes in fair value are recorded in the statement of operation. Income Taxes The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and loss carry-forwards and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rules on deferred tax assets and liabilities is recognized in operations in the year of change. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized. Comprehensive Loss The Company is required to report comprehensive loss, which includes net loss as well as changes in equity from non-owner sources. Fair Value of Financial Instruments The Company measures its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. A three-tier fair value hierarchy prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include: · Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; · Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable, such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and · Level 3, defined as unobservable inputs 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 more significant inputs or significant value drivers are unobservable. Our financial instruments include cash, accounts payable and accrued liabilities, notes payable, convertible notes payable, advances from shareholder, and derivative liabilities. The carrying values of these financial instruments approximate their fair value due to their short-term nature. The derivative liabilities are stated at their fair value as a level 3 measurement. The Company used a Black-Scholes model to determine the fair values of these derivative liabilities. Stock-Based Compensation The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expense related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. Stock based compensation for non-employees is accounted for using the Stock Based Compensation Topic of the FASB ASC 505. We use the fair value method for equity instruments granted to non-employees and will use the Black-Scholes model for measuring the fair value of options, if issued. The stock based fair value compensation is determined as of the date of the grant or the date at which the performance of the services is completed (measurement date) and is recognized over the vesting periods. Subsequent Events The Company evaluated subsequent events through the date these financial statements were issued for disclosure purposes. Reclassification Certain prior year amounts have been reclassified for consistency with the current period presentation. Recent Issued Accounting Pronouncements In May 2014, a pronouncement was issued that creates common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards. The new guidance supersedes most preexisting revenue recognition guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with an option to adopt the standard one year earlier. The new standard is to be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of the new pronouncement on its financial statements. In February 2016, a pronouncement was issued that creates new accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early application permitted. The new standard is to be applied using a modified retrospective approach. The Company is currently evaluating the impact of the new pronouncement on its financial statements. GMGI’s management does not believe that any recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying financial statements.

Going Concern

Going Concern	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 2 - GOING CONCERN	The accompanying unaudited consolidated financial statements of GMGI have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company sustained a loss from operation of $178,887 for the six months ended January 31, 2017. The Company had a working capital deficit and stockholders’ deficit of $1,996,341 and $1,996,341 respectively, at January 31, 2017. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. Without realization of additional capital, it would be unlikely for GMGI to continue as a going concern. GMGI's management plans on raising cash from public or private debt or equity financing, on an as needed basis, and in the longer term, revenues from the gambling business. GMGI's ability to continue as a going concern is dependent on these additional cash financings, and, ultimately, upon achieving profitable operations through the development of its gambling business.

Convertible Notes Payables

Convertible Notes Payables	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 3 - CONVERTIBLE NOTES PAYABLES	Convertible notes payable at January 31, 2017 and July 31, 2016 consisted of the following: January 31, July 31, 2017 2016 Promissory Note #2 30,000 30,000 Promissory Note #31- in default 10,320 23,741 Promissory Note #39 - in default - 12,969 Promissory Note #42 - in default 430 13,955 Promissory Note #44 - in default 13,400 25,000 Promissory Note #45 - in default 28,285 28,285 Promissory Note #46 - in default 33,000 33,000 Promissory Note #50 - in default - 313,145 Promissory Note #52 14,810 211,945 Promissory Note #59 54,460 219,460 Promissory Note #68-Related party 795,712 1,045,712 Promissory Note #69 38,000 - Notes payable, principal $ 1,018,417 $ 1,957,212 Debt discount 36,511 (277,798 ) Notes payable, net of discount 981,906 1,679,414 Accrued interest 122,073 259,169 Total notes payable $ 1,103,979 $ 1,938,583 Promissory Note #2 On March 19, 2012, the Company received $30,000 cash from the issuance of a convertible promissory note in the amount of $30,000. The promissory note is unsecured, interest free and repayable upon demand. The note may be converted at the option of the holder into Common stock of the Company. The fixed conversion price is $0.01 per share. Accordingly the note may be converted into 3,000,000 common shares of the Company. The Company determined that this Promissory note should be accounted for in accordance with FASB ASC 470-20 which addresses “Accounting for Convertible Securities with Beneficial Conversion Features". The beneficial conversion feature is calculated at its intrinsic value (that is, the difference between the conversion price $0.01 and the fair value of the common stock into which the debt is convertible at the commitment date (per share being $0.08), multiplied by the number of shares into which the debt is convertible. The valuation of the beneficial conversion feature recorded cannot be greater than the face value of the note issued. Promissory Note #31 On March 17, 2014, the Company received funding pursuant to a convertible promissory note in the amount of $26,500. The promissory note is unsecured, bears interest at 8% per annum, and matures on March 17, 2015. Any principal amount not paid by the maturity date bears interest at 24% per annum. During the six months ended January 31, 2017, the Company accrued $2,041 (January 31, 2016 $3,206) in interest expense. This note is currently in default. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $42,329 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a gain of $8,453(six months ended January 31, 2016 a gain of $0) due to the change in value of the derivative liability during the period, and debt discount of $0 (three months ended October 31, 2015$ 0 ) was accreted to the statement of operations. During three months ended January 31, 2017, the Company issued 4,733,877 common shares upon the conversion of $13,421 in principal and $6,514 in interest, $28,281 of the derivative liability was re-classified as additional paid in capital upon conversion. As of January 31, 2017, principal balance of $10,320 (January 31, 2016 $26,500), accrued interest of $5,484 (January 31, 2016 $6,696), debt discount of $0 (January 31, 2016 $0) and derivative liability of $6,000 (January 31, 2016 $53,000) was recorded. Promissory Note #39 On May 19, 2014, the Company received funding pursuant to a convertible promissory note in the amount of $25,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on May 19, 2015. Any principal amount not paid by the maturity date bears interest at 16% per annum. During the six months ended O January 31, 2017, the Company accrued $325 (October 31, 2015 $1,905) in interest expense. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $32,007 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a gain of $7,375 (six months ended January 31, 2016 a loss of $6,672) due to the change in value of the derivative liability during the period. During the life of the promissory note, the debt discount of $25,000 was accreted to the statement of operations. During six months ended January 31, 2017, the Company issued 620,473 common shares upon the conversion of $12,969 in principal and $4,771 in interest, and $15,969 of the derivative liability was re-classified as additional paid in capital upon conversion. As of January 31, 2017, principal balance of $0 (January 31, 2016 $22,969), accrued interest of $0 (January 31, 2016 $4,636) and derivative liability of $0 (January 31, 2016 $38,282) was recorded. Promissory Note #42 On June 6, 2014, the Company received funding pursuant to a convertible promissory note in the amount of $25,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on June 6, 2015. Any principal amount not paid by the maturity date bears interest at 16% per annum. During the six months ended January 31, 2017, the Company accrued $298 (January 31, 2016 $1,926) in interest expense. This note is currently in default. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $33,550 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a gain of $3,580 (six months ended January 31, 2016 a loss of $580) due to the change in value of the derivative liability during the period. During the life of the promissory note, the debt discount of $25,000 was accreted to the statement of operations. During the six months ended January 31, 2017, the Company issued 1,054,799 common shares upon the conversion of $13,525 in principal and $3,466 in interest, $21,253 of the derivative liability was re-classified as additional paid in capital upon conversion. As of January 31, 2017, principal balance of $430 (January 31, 2017 $23,000), accrued interest of $1,841 (January 31, 2016 $4,472 and derivative liability of $286 (January 31, 2016 $38,333) was recorded. Promissory Note #44 On July 2, 2014, the Company received funding pursuant to a convertible promissory note in the amount of $25,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on July 2, 2015. Any principal amount not paid by the maturity date bears interest at 16% per annum. During the six months ended January 31, 2017, the Company accrued $1,282 (January 31, 2016 $2,016) in interest expense. This note is currently in default. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $40,725 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a gain of $12,516 (six months ended January 31, 2016 a gain of $1) due to the change in value of the derivative liability during the period. During the life of the promissory note, the debt discount of $25,000 was accreted to the statement of operations. During the six months ended January 31, 2017, the Company issued 1,531,458 common shares upon the conversion of $11,600 in principal and $2,183 in interest, $10,567 of the derivative liability was re-classified as additional paid in capital upon conversion As of January 31, 2017, principal balance of $13,400 (January 31, 2016 $25,000), accrued interest of $5,427 (January 31, 2016 $4,334), and derivative liability of $21,916 (January 31, 2016 $41,666) was recorded. Promissory Note #45 On July 9, 2014, the Company arranged a debt swap for $75,000 which was transferred to LG Capital Funding, LLC. The promissory note is unsecured, bears interest at 8% per annum and matures on July 9, 2015. Any principal amount not paid by the maturity date bears interest at 16% per annum. The note also contains customary events of default. During the six months ended January 31, 2017, the Company accrued $2,282 (January 31, 2016 $3,045) in interest expense. This note is currently in default. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $202,937 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a gain of $22,628 (six months ended January 31, 2016 a loss of $11,407) due to the change in value of the derivative liability during the period. During the life of the promissory note, the debt discount of $75,000 was accreted to the statement of operations. As of January 31, 2017, principal balance of $28,285 (January 31, 2016 $32,000) accrued interest of $9,846 (January 31, 2016 $5,725), and a derivative liability of $28,284 (January 31, 2016 $79,812) was recorded. Promissory Note #46 On July 9, 2014, the Company received funding pursuant to a convertible promissory note in the amount of $33,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on July 9, 2015. Any principal amount not paid by the maturity date bears interest at 16% per annum. During the six months ended January 31, 2017, the Company accrued $2,662 (January 31, 2016 $1,331) in interest expense. This note is currently in default. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $130,556 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a gain of $26,400 (six months ended January 31, 2016 a gain of $0) due to the change in value of the derivative liability during the period. During the life of the promissory note, the debt discount of $33,000 was accreted to the statement of operations. As of October 31, 2016, principal balance of $33,000 (January 31, 2016 $33,000), accrued interest of $10,915 (January 31, 2016 $5,620), and derivative liability of $33,000 (January 31, 2016 $66,000) was recorded. Promissory Note #50 On December 31, 2014 the Company entered into a Convertible Promissory Note with Direct Capital Group, Inc. in the sum of $360,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on July 1, 2015. Any principal amount not paid by the maturity date bears interest at 22% per annum. The Conversion Price shall mean par .00001 multiplied by the number of Common Stock converted at the time. The transaction was handled as a private sale exempt from registration under Section 4(2) of the Securities Act of 1933. On April 27, 2016, the Company transferred the note to N600PG, LLC. (“N600PG”). On September 22, 2016, the Company entered into a Cancellation and Release Agreement with Direct Capital Group, Inc. (“Direct”) and N600PG, LLC. (“N600PG”). As of September 22, 2016, principal balance of $313,145 accrued interest of $96,092 was recorded. In terms of Cancellation and Release Agreement, Direct and N600PG agreed to cancel the convertible promissory note with the Company. In consideration for the cancellation of the convertible promissory notes and in terms of the Asset Purchase Agreement dated February 22, 2016, the Company has agreed to transfer ownership of mining claims held in the Company’s name. It was also agreed by both the Company and Direct that Direct shall release all future claims to subsequent conversions of the Notes and the Company will have no further obligation to Direct under those Convertible Notes and Direct shall be forever barred from seeking further conversions or claiming obligations of the Company under the Convertible Notes. Promissory Note #52 On April 30, 2015 the Company entered into a Convertible Promissory Note with Direct Capital Group, Inc. in the sum of $240,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on October 30, 2015. Any principal amount not paid by the maturity date bears interest at 22% per annum. The Conversion Price shall mean par$0.00001 multiplied by the number of Common Stock converted at the time. The transaction was handled as a private sale exempt from registration under Section 4(2) of the Securities Act of 1933. This note is currently in default. A portion of the proceeds from issuance of the convertible debt, equal to the intrinsic value, is allocated to additional paid-in capital. Because the debt is due on demand and is convertible at the date of issuance, the valuation of the beneficial conversion feature is charged to interest expense at the date of issuance. On April 30, 2015, interest expense relating to the beneficial conversion feature of this convertible note of $240,000 was recorded in the financial statements, with a corresponding increase to additional paid in capital. During the life of the promissory note, the debt discount was accreted to the statement of operations. On January 19, 2016, the note was reassigned to Rockwell Capital Partners. At any time the note may be converted at the option of the holder into Common stock of the Company. The conversion price is 50% of the market price, where market price is defined as “the lowest closing price on any day with a fifteen day look back”. On 18th April 2016, Rockwell Capital Partners reassigned $165,000 of the original note back to Direct Capital Group, Inc. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $479,999 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a gain of $264,700 (January 31, 2016 $0) due to the change in value of the derivative liability during the period, and debt discount of $0 (six months ended January 31, 2016 $0) was accreted to the statement of operations. During the six months ended January 31, 2017, the Company issued 3,933,334 common shares upon the conversion of $32,135 in principal, and $82,485 of the derivative liability was re-classified as additional paid in capital upon conversion. On September 22, 2016, the Company entered into a Cancellation and Release Agreement with Direct Capital Group, Inc. (“Direct”). In terms of Cancellation and Release Agreement Direct agreed to cancel the convertible promissory note with the Company totaling $198,530. In consideration for the cancellation of the convertible promissory notes and in terms of the Asset Purchase Agreement dated February 22, 2016, the Company has agreed to transfer ownership of mining claims held in the Company’s name. It was also agreed by both the Company and Direct that Direct shall release all future claims to subsequent conversions of the Notes and the Company will have no further obligation to Direct under those Convertible Notes and Direct shall be forever barred from seeking further conversions or claiming obligations of the Company under the Convertible Notes. As of January 31, 2017, principal balance of $14,810 (January 31, 2016 $236,000) and accrued interest of $3,689 (January 31, 2016 $21,252), and derivative liability of $34,319 (January 31, 2016 $471,995) was recorded. Promissory Note #59 On July 31, 2015 the Company entered into a Convertible Promissory Note with Direct Capital Group, Inc. in the sum of $240,000. The promissory note is unsecured, bears interest at 8% per annum, and matures on January 31, 2016. Any principal amount not paid by the maturity date bears interest at 22% per annum. The Conversion Price shall mean par $0.00001 multiplied by the number of Common Stock converted at the time. The transaction was handled as a private sale exempt from registration under Section 4(2) of the Securities Act of 1933. On July 21, 2016, $25,000 was reassigned to Istvan Elek. At any time the note may be converted at the option of the holder into Common stock of the Company. The conversion price is 50% of the market price, where market price is defined as “the lowest closing price on any day with a fifteen day look back”. This note is currently in default. A portion of the proceeds from issuance of the convertible debt, equal to the intrinsic value, is allocated to additional paid-in capital. Because the debt is due on demand and is convertible at the date of issuance, the valuation of the beneficial conversion feature is charged to interest expense at the date of issuance. On July 31, 2015, interest expense relating to the beneficial conversion feature of this convertible note of $0 was recorded in the financial statements, with a corresponding increase to additional paid in capital. On September 22, 2016, the Company entered into a Cancellation and Release Agreement with Direct Capital Group, Inc. (“Direct”). In terms of Cancellation and Release Agreement Direct agreed to cancel the convertible promissory note with the Company totaling $183,157. In consideration for the cancellation of the convertible promissory notes and in terms of the Asset Purchase Agreement dated February 22, 2016, the Company has agreed to transfer ownership of mining claims held in the Company’s name. It was also agreed by both the Company and Direct that Direct shall release all future claims to subsequent conversions of the Notes and the Company will have no further obligation to Direct under those Convertible Notes and Direct shall be forever barred from seeking further conversions or claiming obligations of the Company under the Convertible Notes. As of January 31, 2017, principal balance of $54,460 (October 31, 2015 $240,000) and accrued interest of $2,014 (January 31, 2016 $9,679), and derivative liability of $23,171 (January 31, 2016 $0) was recorded Promissory Note #68 On March 1, 2016 the Company entered into a convertible promissory note with Luxor Capital, LLC in the amount of $2,374,712. The promissory note is unsecured, bears interest at 6% per annum, and matures on March 1, 2017. During the six months ended January 31, 2017, the Company accrued $31,458 (January 31, 2016 $0) in interest expense. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $2,330,680 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a gain of $830,072 (six months ended January 31, 2016 $0) due to the change in value of the derivative liability during the period. During the life of the promissory note, the debt discount of $1,662,243 was accreted to the statement of operations. During the six months ended January 31, 2017, the Company issued 34,113,061 common shares upon the conversion of $250,000 in principal, and $50,399 of the derivative liability was re-classified as additional paid in capital upon conversion. As of January 31, 2017, principal balance of $795,712 (January 31, 2017 $0) and accrued interest of $82,027 (January 31, 2017 $0), and derivative liability of $413,269 (January 31, 2016 $0) was recorded. Promissory Note #69 On January 11, 2017 the Company entered into a convertible promissory note with in the amount of $38,000. The promissory note bears interest at 8% per annum, and matures on October 28, 2017. During the six months ended January 31, 2017, the Company accrued $92 (January 31, 2016 $0) in interest expense. Upon the holder’s option to convert becoming active the Company recorded a debt discount and derivative liability of $61,883 being the fair value of the conversion feature which was determined using the Black-Scholes valuation model. The debt discount is accreted to the statement of operations using the effective interest rate method over the term of the note or to the date of conversion, and the derivative liability is revalued at each reporting date to fair value. Any change in fair value is credited or charged to the statement of operations in the period. During the six months ended January 31, 2017, the Company recorded a loss of $24,240 (six months ended January 31, 2016 $0) due to the change in value of the derivative liability during the period. During the life of the promissory note, the debt discount of $38,000 was accreted to the statement of operations. As of January 31, 2017, principal balance of $38,000 (January 31, 2017 $0) and accrued interest of $92 (January 31, 2017 $0), and derivative liability of $86,123 (January 31, 2016 $0) was recorded.

Derivative Liabilities

Derivative Liabilities	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 4 - DERIVATIVE LIABILITIES	The Company issued financial instruments in the form of convertible notes with embedded conversion features. Some of the convertible notes payable have conversion rates, which are indexed to the market value of the Company’s stock price. During the six months ended January 31, 2017 and 2016, the Company recorded derivative liabilities for embedded conversion features related to convertible notes payable of face value $61,883 and $2,023,606 respectively. During the six months ended January 31, 2017 and 2016, $349,421 and $73,628 respectively of convertible notes payable principal and accrued interest was converted into common stock of the Company. For the six months ended January 31, 2017 and 2016, the Company performed a final mark-to-market adjustment for the derivative liability related to the convertible notes of and the carrying amount of the derivative liability related to the conversion feature of $208,954 and $46,036 respectively, was re-classed to additional paid in capital on the date of conversion in the statement of shareholders’ deficit. During the six months ended January 31, 2017 and 2016, the Company recognized a gain of $1,146,313 and $175,399 respectively, based on the change in fair value (mark-to-market adjustment) of the derivative liability associated with the embedded conversion features in the accompanying statement of operations. These derivative liabilities have been measured in accordance with fair value measurements, as defined by ASC 820. The valuation assumptions are classified within Level 1 and Level 2 inputs. The following table represents the Company’s derivative liability activity for the embedded conversion features discussed above. The following table represents the Company’s derivative liability activity for the embedded conversion features discussed above: January 31, July 31, 2017 2016 Balance, beginning of period $ 1,939,753 $ 322,029 Initial recognition of derivative liability 61,883 3,754,182 Conversion of derivative instruments to Common Stock (208,954 ) (5,095,929 ) Mark-to-Market adjustment to fair value (1,146,312 ) 2,959,473 Balance, end of period $ 646,370 $ 1,939,753

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 5 - COMMITMENTS AND CONTINGENCIES	Legal Proceedings From time to time, we may be party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our business. We are not involved currently in legal proceedings other than those detailed below that could reasonably be expected to have a material adverse effect on our business, prospects, financial condition or results of operations. We may become involved in material legal proceedings in the future.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 6 - RELATED PARTY TRANSACTIONS	All related party transactions have been recorded at the exchange value which was the amount of consideration established and agreed to by the related parties. On February 22, 2016, the Company entered into an Asset Purchase Agreement with Luxor Capital, LLC, which is wholly owned by Anthony Goodman. The Company purchased a Certain Gaming IP, along with the “know how” of that Gaming IP from Luxor. Pursuant to the Asset Purchase Agreement, 11,112 shares of common stock have been issued to Luxor Capital, LLC and its designed party. On April 1, 2016, the Company entered into a Services Agreement with Articulate Pty Ltd, which is wholly owned by the director of the Company, for consulting services. Pursuant to the agreement Articulated would receive $4,500 per month ending for services rendered plus reimbursement of the Company's expenses. The agreement may be terminated by either party upon 30 days written notice. During six months ended January 31, 2017 and 2016, general and administrative expense related to this service was $132,286 and $0, respectively. As of January 31, 2017, the Company has a $152,668 payable to Articulate. On June 1, 2016, the Company entered a distribution usage rights agreement with Globaltech Software Services LLC. (“Globaltech”), a company in which the chief executive officer has an interest, the Company agreed to provide the rights of usage to its Credit Management system, Social Gaming systems and Technology. During six months ended January 31, 2017 and 2016, revenue from Globaltech was $60,000 and $0, respectively. As of January 31, 2017, the Company had a $22,500 accounts receivable to Globaltech.

Equity

Equity	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 7 - EQUITY	Preferred Stock The Company authorized the creation of 20,000,000 shares of it $0.00001 par value preferred stock. On August 10, 2015, the Company’s Board of Directors authorized the creation of 1,000 shares of Series B Voting Preferred Stock. The holder of the shares of the Series B Voting Preferred Stock has the right to vote those shares of the Series B Voting Preferred Stock regarding any matter or action that is required to be submitted to the shareholders of the Company for approval. The vote of each share of the Series B Voting Preferred Stock is equal to and counted as 4 times the votes of all of the shares of the Company’s (i) common stock, and (ii) other voting preferred stock issued and outstanding on the date of each and every vote or consent of the shareholders of the Company regarding each and every matter submitted to the shareholders of the Company for approval. On August 10, 2015, the Company filed a Certificate of Designation with the Nevada Secretary of State creating the 1,000 shares of Series B Voting Preferred Stock On August 14, 2015, the Company issued 1,000 shares of Series B Voting Preferred Stock to Santa Rosa Resources, representing 100% of the total issued and outstanding shares of the Company’s Series B Voting Preferred Stock. On April 3, 2016, the Company cancelled 1,000 shares of Series B Voting Preferred Stock to Santa Rosa Resources and a new certificate issued in the name of Luxor Capital LLC in the amount of 1,000 Series B shares. As of January 31, 2017, 19,999,000 Series A preferred shares and 1,000 Series B preferred shares of par value $0.00001 were authorized, of which 0 Series A shares were issued and outstanding, ( 0 shares as of October 31, 2015), 1,000 Series B shares were issued and outstanding, (1,000 preferred shares issued and outstanding as of January 31, 2016). Common Stock The Company authorized the creation of 2,480,000,000 shares of its $0.00001 par value common stock. On October 15, 2015, the Company effectuated a 1 for 2,000 reverse stock split, thereby reducing the issued and outstanding shares of common stock from 3,472,433,130 prior to the reverse split to 1,736,217 following the reverse split. An additional 1,043 shares were issued due to no fractional shares used as a result of the reverse stock split. On November 6, 2015, the Company purchased all data and rights to the “We Buy Gold” website from Santa Rosa Resources. The Company issued 223 shares of common stock on November 6, 2015 and 223 shares of common stock on December 7, 2015, with a total value equal to $1,800,000. On March 9, 2016, the Company’s Board of Directors approved 1 for 1,500 reverse split for the Company’s authorized, issued and outstanding shares of common stock. The reverse stock split was effective on April 7, 2016 upon approval of shareholders holding a majority of the voting stock. On December 5, 2016, the Company’s Board of Directors approved 1 for 150 reverse split for the Company’s authorized, issued and outstanding shares of common stock, reducing the number of authorized shares to 19,866,667. The reverse stock split was effective on January 9, 2017 upon approval of shareholders holding a majority of the voting stock. On January 17, 2017, the authorized number of shares of common stock was increased to 2,480,000,000. During the six months ended January 31, 2017, the Company issued 46,341,281 shares of common stock for the conversion of various convertible notes of $333,650 in principal and $16,934 in interest (see Note 4). As of January 31, 2017, 2,480,000,000 common shares of par value $0.00001 were authorized, of which 48,587,906 shares were issued and outstanding.

Concentration

Concentration	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 8 - CONCENTRATION	The Company’s revenues for the six months ended January 31, 2017 were from one related party. As of January 31, 2017, the aggregate amount due from this related party was $22,500. All of the Company’s revenues for the six month ended January 31, 2017 were from Globaltech Software Services LLC, a Company owned by the chief executive officer in which the Company agreed to provide the rights of usage to its credit management system, social gaming systems and technology.

Subsequent events

Subsequent events	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Note 9 - SUBSEQUENT EVENTS	On March 3, 2017, the Company’s Board of Director approved the engagement of M&K CPAS, PLLC (“M&K”), as the Company’s new independent registered public accounting firm. Subsequent to January 31, 2017, the Company issued 21,800,000 common shares to Rockwell for conversion of $18,171 note principal and $ 379 accrued interest.

Basis Of Presentation And Acc15

Basis Of Presentation And Accounting Policies (Policies)	6 Months Ended
	Jan. 31, 2017
Basis Of Presentation And Accounting Policies Policies
Use of Estimates	The preparation of 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 amounts of assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates.
Cash and Cash Equivalents	For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value of these investments approximates fair value.
Revenues	Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed or determinable, and collectability is probable.
Foreign Currency Translation	The Company’s functional currency is the US dollar as a substantial part of the Company’s operations is based in Arizona. IRC’s and NBI’s functional currency is the Canadian dollar. The functional currency of SB and Vulture is the US dollar as its activities are in the USA. The Company uses the United States dollar as its reporting currency for consistency with registrants of the Securities and Exchange Commission (“SEC”). Assets and liabilities denominated in a foreign currency are translated into US dollar reporting currency at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses are included in other comprehensive loss.
Diluted and Basic Loss per Share	Basic loss per share is computed using the weighted average number of shares outstanding during the period. Diluted earnings per share are computed similar to basic income per share except that the denominator is increased to include the number of c. Common stock equivalents represent the dilutive effect of the assumed exercise of any outstanding stock equivalents, using the treasury stock method, at either the beginning of the respective period presented or the date of issuance, whichever is later, and only if the common stock equivalents are considered dilutive based upon the Company’s net income (loss) position at the calculation date.
Derivative Instruments	We review the terms of the common stock, warrants and convertible debt we issue to determine whether there are embedded derivative instruments, including embedded conversion options, which are required to be bifurcated and accounted for separately as derivative financial instruments. In circumstances where the host instrument contains more than one embedded derivative instrument, including the conversion option, that is required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. Bifurcated embedded derivatives are initially recorded at fair value and are then revalued at each reporting date with changes in the fair value reported as non-operating income or expense. When the equity or convertible debt instruments contain embedded derivative instruments that are to be bifurcated and accounted for as liabilities, the total proceeds received are first allocated to the fair value of all the bifurcated derivative instruments. The remaining proceeds, if any are then allocated to the host instruments themselves, usually resulting in those instruments being recorded as a discount from their face value. Derivatives are measured at their fair value on the balance sheet. Changes in fair value are recorded in the statement of operation.
Income Taxes	The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and loss carry-forwards and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rules on deferred tax assets and liabilities is recognized in operations in the year of change. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized.
Comprehensive Loss	The Company is required to report comprehensive loss, which includes net loss as well as changes in equity from non-owner sources.
Fair Value of Financial Instruments	The Company measures its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. A three-tier fair value hierarchy prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include: · Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; · Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable, such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and · Level 3, defined as unobservable inputs 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 more significant inputs or significant value drivers are unobservable. Our financial instruments include cash, accounts payable and accrued liabilities, notes payable, convertible notes payable, advances from shareholder, and derivative liabilities. The carrying values of these financial instruments approximate their fair value due to their short-term nature. The derivative liabilities are stated at their fair value as a level 3 measurement. The Company used a Black-Scholes model to determine the fair values of these derivative liabilities.
Stock-Based Compensation	The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expense related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award. Stock based compensation for non-employees is accounted for using the Stock Based Compensation Topic of the FASB ASC 505. We use the fair value method for equity instruments granted to non-employees and will use the Black-Scholes model for measuring the fair value of options, if issued. The stock based fair value compensation is determined as of the date of the grant or the date at which the performance of the services is completed (measurement date) and is recognized over the vesting periods.
Subsequent Events	The Company evaluated subsequent events through the date these financial statements were issued for disclosure purposes.
Reclassification	Certain prior year amounts have been reclassified for consistency with the current period presentation.
Recently Issued Accounting Standards	In May 2014, a pronouncement was issued that creates common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards. The new guidance supersedes most preexisting revenue recognition guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with an option to adopt the standard one year earlier. The new standard is to be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of the new pronouncement on its financial statements. In February 2016, a pronouncement was issued that creates new accounting and reporting guidelines for leasing arrangements. The new guidance requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease primarily will depend on its classification as a finance or operating lease. The guidance also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The new standard is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, with early application permitted. The new standard is to be applied using a modified retrospective approach. The Company is currently evaluating the impact of the new pronouncement on its financial statements. GMGI’s management does not believe that any recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying financial statements.

Convertible Notes Payable (Tabl

Convertible Notes Payable (Tables)	6 Months Ended
	Jan. 31, 2017
Convertible Notes Payable Tables
Summary of Convertible Notes Payable	Convertible notes payable at January 31, 2017 and July 31, 2016 consisted of the following: January 31, July 31, 2017 2016 Promissory Note #2 30,000 30,000 Promissory Note #31- in default 10,320 23,741 Promissory Note #39 - in default - 12,969 Promissory Note #42 - in default 430 13,955 Promissory Note #44 - in default 13,400 25,000 Promissory Note #45 - in default 28,285 28,285 Promissory Note #46 - in default 33,000 33,000 Promissory Note #50 - in default - 313,145 Promissory Note #52 14,810 211,945 Promissory Note #59 54,460 219,460 Promissory Note #68-Related party 795,712 1,045,712 Promissory Note #69 38,000 - Notes payable, principal $ 1,018,417 $ 1,957,212 Debt discount 36,511 (277,798 ) Notes payable, net of discount 981,906 1,679,414 Accrued interest 122,073 259,169 Total notes payable $ 1,103,979 $ 1,938,583

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)	6 Months Ended
	Jan. 31, 2017
Derivative Liabilities (Tables):
Derivative Liabilities	The following table represents the Company’s derivative liability activity for the embedded conversion features discussed above: January 31, July 31, 2017 2016 Balance, beginning of period $ 1,939,753 $ 322,029 Initial recognition of derivative liability 61,883 3,754,182 Conversion of derivative instruments to Common Stock (208,954 ) (5,095,929 ) Mark-to-Market adjustment to fair value (1,146,312 ) 2,959,473 Balance, end of period $ 646,370 $ 1,939,753

Basis Of Presentation And Acc18

Basis Of Presentation And Accounting Policies (Details Narrative)	6 Months Ended
	Jan. 31, 2017
Notes to Financial Statements
Country or state of incorporation	Nevada
Date of incorporation	Jun. 4, 2008

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016	Jul. 31, 2016
Going Concern Details Narrative
Loss from operations	$ (121,215)	$ (642,717)	$ (178,887)	$ (893,954)
Working capital deficit	1,996,341		1,996,341
Total shareholders' equity	$ (1,996,341)		$ (1,996,341)		$ (3,981,442)

Convertible Notes Payable (Deta

Convertible Notes Payable (Details) - USD ($)	Jan. 31, 2017	Jan. 11, 2017	Sep. 22, 2016	Jul. 31, 2016	Mar. 01, 2016	Jan. 31, 2016	Apr. 30, 2015	May 19, 2014	Mar. 17, 2014
Notes payable, principal	$ 1,018,417			$ 1,957,212
Debt discount	36,511			(277,798)
Notes payable, net of discount	981,906			1,679,414
Accrued interest	122,073			259,169
Total notes payable	1,103,979			1,938,583
Promissory Note 2
Notes payable, principal	30,000			30,000
Promissory Note 31
Notes payable, principal	10,320			23,741
Debt discount	0					$ 0			$ 42,329
Accrued interest	5,484					6,696
Promissory Note 39
Notes payable, principal				12,969
Debt discount								$ 32,007
Accrued interest	0					4,636
Promissory Note 42
Notes payable, principal	430			13,955
Promissory Note 44
Notes payable, principal	13,400			25,000
Promissory Note 45
Notes payable, principal	28,285			28,285
Promissory Note 46
Notes payable, principal	33,000			33,000
Promissory Note 50
Notes payable, principal				313,145
Accrued interest			$ 96,092
Promissory Note 52
Notes payable, principal	14,810			211,945
Debt discount							$ 479,999
Accrued interest	3,689					21,252
Promissory Note 59
Notes payable, principal	54,460			219,460
Accrued interest	2,014					9,679
Promissory Note 68
Notes payable, principal	795,712			1,045,712
Debt discount					$ 2,330,680
Accrued interest	82,027					0
Promissory Note 69
Notes payable, principal	38,000
Debt discount		$ 61,883
Accrued interest	$ 92					$ 0

Convertible Notes Payable (De21

Convertible Notes Payable (Details Narrative) - USD ($)	1 Months Ended				3 Months Ended				6 Months Ended
	Jul. 21, 2016	Jan. 19, 2016	Jul. 31, 2015	Mar. 19, 2012	Jan. 31, 2017	Oct. 31, 2016	Jan. 31, 2016	Oct. 31, 2015	Jan. 31, 2017	Jan. 31, 2016	Jan. 11, 2017	Sep. 22, 2016	Jul. 31, 2016	Apr. 18, 2016	Mar. 19, 2016	Mar. 01, 2016	Oct. 30, 2015	Jul. 09, 2015	Jul. 02, 2015	Jul. 01, 2015	Jun. 06, 2015	May 19, 2015	Apr. 30, 2015	Mar. 17, 2015	Dec. 31, 2014	Jul. 09, 2014	Jul. 02, 2014	Jun. 06, 2014	May 19, 2014	Mar. 17, 2014
Gain of change in derivative liability					$ 337,172		$ (19,523)		$ 1,144,313	$ 175,399
Accrued interest					122,073				122,073				$ 259,169
Debt discount					36,511				36,511				(277,798)
Derivative liability					646,370		322,029		646,370	322,029			$ 1,939,753
Promissory Note 2
Convertible debt															$ 30,000
Proceeds from issuance of promissory notes				$ 30,000
Conversion price															$ 0.01
Common stock shares issuable upon conversion of convetible notes															3,000,000
Beneficial conversion feature				The beneficial conversion feature is calculated at its intrinsic value (that is, the difference between the conversion price $0.01 and the fair value of the common stock into which the debt is convertible at the commitment date (per share being $0.08), multiplied by the number of shares into which the debt is convertible
Promissory Note 31
Convertible debt					10,320		26,500		10,320	26,500																				$ 26,500
Accrued interest expense									2,041	3,206
Gain of change in derivative liability									8,453	0
Debt discount of statement of operations								$ 0	0
Accrued interest					5,484		6,696		5,484	6,696
Debt discount					0		0		0	0																				42,329
Derivative liability					6,000		53,000		6,000	53,000																				$ 42,329
Converted additional paid in capital					$ 28,281				8,080
Interest on promissory note																								24.00%						8.00%
Common stock shares issued upon conversion of covertible debt					4,733,877
Debt conversion converted amount					$ 13,421
Debt conversion interest amount					6,514
Promissory Note 39
Convertible debt					0		22,969		0	22,969																			$ 25,000
Accrued interest expense								1,905	325
Gain of change in derivative liability									7,375	(6,672)
Debt discount of statement of operations									25,000
Accrued interest					0		4,636		0	4,636
Debt discount																													32,007
Derivative liability					0		38,282		0	38,282																			$ 32,007
Converted additional paid in capital									$ 15,969
Interest on promissory note																						16.00%							8.00%
Common stock shares issued upon conversion of covertible debt									620,473
Debt conversion converted amount									$ 12,969
Debt conversion interest amount									4,771
Promissory Note 42
Convertible debt					430		23,000		430	23,000																		$ 25,000
Accrued interest expense									298	1,926
Gain of change in derivative liability									3,580	(580)
Debt discount of statement of operations									25,000
Accrued interest					1,841		4,472		1,841	4,472
Debt discount																												33,550
Derivative liability					286		38,333		286	38,333																		$ 33,550
Converted additional paid in capital									$ 21,253
Interest on promissory note																					16.00%							8.00%
Common stock shares issued upon conversion of covertible debt									1,054,799
Debt conversion converted amount									$ 13,525
Debt conversion interest amount									3,466
Promissory Note 44
Convertible debt					13,400		25,000		13,400	25,000																	$ 25,000
Accrued interest expense									1,282	2,016
Gain of change in derivative liability									12,516	1
Debt discount of statement of operations									25,000
Accrued interest					5,427		4,334		5,427	4,334
Debt discount																											40,725
Derivative liability					21,916		41,666		21,916	41,666																	$ 40,725
Converted additional paid in capital									$ 10,567
Interest on promissory note																			16.00%								8.00%
Common stock shares issued upon conversion of covertible debt									1,531,458
Debt conversion converted amount									$ 11,600
Debt conversion interest amount									2,183
Promissory Note 45
Convertible debt					28,285		32,000		28,285	32,000																$ 75,000
Accrued interest expense									2,282	3,045
Gain of change in derivative liability									22,628	(11,407)
Debt discount of statement of operations									75,000
Accrued interest					9,846		5,725		9,846	5,725
Debt discount																										202,937
Derivative liability					28,284		79,812		28,284	79,812																$ 202,937
Interest on promissory note																		16.00%								8.00%
Promissory Note 46
Convertible debt					33,000		33,000		33,000	33,000																$ 33,000
Accrued interest expense									2,662	1,331
Gain of change in derivative liability									26,400	0
Debt discount of statement of operations									33,000
Accrued interest					10,915		5,620		10,915	5,620
Debt discount																										130,556
Derivative liability					33,000		66,000		33,000	66,000																$ 130,556
Interest on promissory note																		16.00%								8.00%
Promissory Note 50
Convertible debt												$ 313,145													$ 360,000
Accrued interest												96,092
Conversion price																									$ 0.00001
Interest on promissory note																				22.00%					8.00%
Promissory Note 52
Convertible debt					14,810		236,000		14,810	236,000													$ 240,000
Gain of change in derivative liability									264,700	0
Debt discount of statement of operations									0	0
Accrued interest					3,689		21,252		3,689	21,252
Debt discount																							479,999
Derivative liability					34,319		471,995		34,319	471,995													$ 479,999
Converted additional paid in capital									$ 82,485
Conversion price																							$ 0.00001
Interest on promissory note																	22.00%						8.00%
Common stock shares issued upon conversion of covertible debt									3,933,334
Debt conversion converted amount									$ 32,135
Promissory Note 52 | Rockwell Capital Partners [Member]
Convertible debt														$ 165,000
Conversion price as a percentage of market price		50.00%
Promissory Note 52 | Rockwell Capital Partners [Member] | Cancellation and Release Agreement [Member]
Convertible debt												198,530
Promissory Note 52 | On April 30, 2015
Debt discount of statement of operations						$ 0
Promissory Note 59
Convertible debt			$ 240,000		54,460			$ 240,000	54,460
Accrued interest expense			$ 0
Accrued interest					2,014		9,679		2,014	9,679
Derivative liability					23,171		$ 0		23,171	$ 0
Conversion price			$ 0.00001
Interest on promissory note			8.00%				22.00%			22.00%
Promissory Note 59 | Cancellation and Release Agreement [Member]
Convertible debt												$ 183,157
Promissory Note 59 | Istvan Elek [Member]
Convertible debt	$ 25,000
Conversion price as a percentage of market price	50.00%
Promissory Note 68
Convertible debt					795,712		$ 0		795,712	$ 0						$ 2,374,712
Accrued interest expense									31,458	0
Gain of change in derivative liability									830,072	0
Debt discount of statement of operations									1,662,243
Accrued interest					82,027		0		82,027	0
Debt discount																2,330,680
Derivative liability					413,269		0		413,269	0						$ 2,330,680
Converted additional paid in capital									$ 50,399
Interest on promissory note																6.00%
Common stock shares issued upon conversion of covertible debt									34,113,061
Debt conversion converted amount									$ 250,000
Promissory Note 69
Convertible debt					38,000		0		38,000	0	$ 38,000
Accrued interest expense									92	0
Gain of change in derivative liability									(24,240)	0
Debt discount of statement of operations									38,000
Accrued interest					92		0		92	0
Debt discount											61,883
Derivative liability					$ 86,123		$ 0		$ 86,123	$ 0	$ 61,883
Interest on promissory note											8.00%

Derivative Liabilities (Details

Derivative Liabilities (Details) - USD ($)	6 Months Ended
	Jan. 31, 2017	Jul. 31, 2016
Derivative Liabilities Details
Balance, beginning of period	$ 1,939,753	$ 322,029
Initial recognition of derivative liability	61,883	3,754,182
Conversion of derivative instruments to Common Stock	(208,954)	(5,095,929)
Mark-to-Market adjustment to fair value	(1,146,312)	2,959,473
Balance, end of period	$ 646,370	$ 1,939,753

Derivative Liabilities (Detai23

Derivative Liabilities (Details Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2017	Jan. 31, 2016
Derivative Liabilities Details Narrative
Convertible notes payable of face value	$ 61,883	$ 2,023,606
Convertible notes payable and accrued interest	349,421	73,628
Derivative liability related to conversion feature	208,954	46,036
Change in fair value (mark to market adjustment)	$ 1,146,313	$ 175,399

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2017	Jan. 31, 2016	Jul. 31, 2016	Feb. 22, 2016	Dec. 07, 2015	Nov. 06, 2015	Oct. 15, 2015
Common stock issued to related party	48,587,906		48,587,906		2,597,806		223	223	3,472,433,130
Consulting fees per month	$ 13,958	$ 5,518	$ 23,902	$ 7,164
G&A expenses- related party	59,702		132,286
Accounts payable - related parties	241,135		241,135		$ 78,447
Sales- related party	30,000		60,000
Articulate Pty Ltd [Member]
Consulting fees per month			4,500
G&A expenses- related party			132,286	0
Accounts payable - related parties	152,668		152,668
Globaltech [Member]
Sales- related party			60,000	$ 0
Accounts receivable - related parties	$ 22,500		$ 22,500
Luxor Capital LLC [Member]
Common stock issued to related party						11,112

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	Dec. 05, 2016	Mar. 09, 2016	Oct. 15, 2015	Jan. 31, 2017	Jul. 31, 2016	Apr. 03, 2016	Feb. 22, 2016	Jan. 31, 2016	Dec. 07, 2015	Nov. 06, 2015	Oct. 31, 2015	Oct. 14, 2015	Aug. 14, 2015	Aug. 10, 2015
Description of reverse stock split	On December 5, 2016, the Company’s Board of Directors approved 1 for 150 reverse split for the Company’s authorized, issued and outstanding shares of common stock.	On March 9, 2016, the Company’s Board of Directors approved 1 for 1,500 reverse split for the Company’s authorized, issued and outstanding shares of common stock.	On October 15, 2015, the Company effectuated a 1 for 2,000 reverse stock split, thereby reducing the issued and outstanding shares of common stock from 3,472,433,130 prior to the reverse split to 1,736,217 following the reverse split.
Common shares issued upon conversion				46,341,281
Common stock conversion principal amount				$ 333,650
Interest of promissory notes into common stock				16,934
Common stock, value				$ 486	$ 26				$ 1,800,000
Additional common stock issued on reverse split			1,043
Common stock issued before reverse split												1,736,217
Common stock outstanding before reverse split												1,736,217
Common shares, authorized	19,866,667			2,480,000,000	2,480,000,000
Common shares, par value				$ 0.00001	$ 0.00001
Common stock, shares issued			3,472,433,130	48,587,906	2,597,806				223	223
Common shares, outstanding			3,472,433,130	48,587,906	2,597,806
Luxor Capital LLC [Member]
Common stock, shares issued							11,112
Series B Preferred Stock [Member]
Preferred stock, par value				$ 0.00001	$ 0.00001
Preferred stock, shares authorized				1,000	1,000									1,000
Preferred stock, shares issued				1,000	1,000			1,000			1,000		1,000
Preferred stock, shares outstanding				1,000	1,000			1,000			1,000
Preferred stock, shares cancelled						1,000
Series B Preferred Stock [Member] | Luxor Capital LLC [Member]
Preferred stock, shares issued						1,000
Series A Preferred Stock [Member]
Preferred stock, par value				$ 0.00001	$ 0.00001
Preferred stock, shares authorized				19,999,000	19,999,000
Preferred stock, shares issued				0	0						0
Preferred stock, shares outstanding				0	0						0

Concentration (Details Narrativ

Concentration (Details Narrative)	Jan. 31, 2017USD ($)
Globaltech [Member]
Accounts receivable - related parties	$ 22,500

Subsequent events (Details Narr

Subsequent events (Details Narrative) - USD ($)	Jan. 31, 2017	Jul. 31, 2016	Dec. 07, 2015	Nov. 06, 2015	Oct. 15, 2015
Common stock issued to related party	48,587,906	2,597,806	223	223	3,472,433,130
Notes payable, principal	$ 1,018,417	$ 1,957,212
Accrued interest	$ 122,073	$ 259,169
Subsequent event [Member] | Rockwell Capital Partners [Member]
Common stock issued to related party	21,800,000
Notes payable, principal	$ 18,171
Accrued interest	$ 379