Point of Care Nano-Technology (PCNT) 10-K 25 Oct 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jul. 31, 2022	Oct. 25, 2022	Jan. 31, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Jul. 31, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--07-31
Entity File Number	000-56356
Entity Registrant Name	POINT OF CARE NANO-TECHNOLOGY INC.
Entity Central Index Key	0001504239
Entity Tax Identification Number	27-2830681
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	109 Ambersweet Way
Entity Address, City or Town	Davenport
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33897
City Area Code	(732)
Local Phone Number	723-7395
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float			$ 2,820,000
Entity Common Stock, Shares Outstanding		940,621
Auditor Name	K. R.
Auditor Location	Vancouver, Canada
Auditor Firm ID	1212

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 31, 2022	Jul. 31, 2021
Current Assets
Cash	$ 3,198
Prepaid expense	2,917
Current Assets	6,115
Intangible asset – license (Note 7)	123,466
Total Assets	129,581
Current Liabilities
Accounts payable and accrued charges	213,335	20,240
Total Liabilities	213,335	20,240
Stockholders’ Deficit
Preferred stock, par value $0.0001,(Note 5) 10,000,000 shares authorized; 1,000 shares issued and outstanding	1
Common stock, par value $0.0001, (Note 5) 100,000,000 shares authorized 940,621 shares issued and outstanding	940	940
520,000 Treasury shares	(520)
Additional paid-in capital	120,191,707	120,191,187
Accumulated deficit	(120,275,882)	(120,212,367)
Total Stockholders’ Deficit	(83,754)	(20,240)
Total Liabilities and Stockholders’ Deficit	$ 129,581

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2022	Jul. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par Value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	1,000	1,000
Preferred Stock, Shares Outstanding	1,000	1,000
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	940,621	940,621
Common Stock, Shares, Outstanding	940,621	940,621
Treasury Stock, Shares	520,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Income Statement [Abstract]
Royalty revenue	$ 100,000
Royalty fee	90,000
Net royalty income	10,000
Operating expenses
Professional fees	51,800	7,500
General and administration	20,180
Amortization	1,534
Officer compensation	1
Operating expenses	73,515	7,500
Net loss and comprehensive loss	$ (63,515)	$ (7,500)
Weighted average Net Loss per share, basic and diluted	$ 0.08	$ 0
Weighted average number of common shares outstanding	787,183	940,621

CONSOLIDATED STATEMENTS OF DEFI

CONSOLIDATED STATEMENTS OF DEFICIT (EQUITY) - USD ($)	Total	Preferred Stock [Member]	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balance, July 31, 2020 at Jul. 31, 2020	$ (12,740)		$ 940		$ 120,191,187	$ (120,204,867)
Beginning Balance, Shares at Jul. 31, 2020			940,621
Net loss for the period
Balance, July 31, 2021 at Oct. 31, 2020	(12,740)		$ 940		120,191,187	(120,204,867)
Ending Balance, Shares at Oct. 31, 2020			940,621
Balance, July 31, 2020 at Jul. 31, 2020	(12,740)		$ 940		120,191,187	(120,204,867)
Beginning Balance, Shares at Jul. 31, 2020			940,621
Net loss for the period	(7,500)
Balance, July 31, 2021 at Jul. 31, 2021	(20,240)		$ 940		120,191,187	(120,212,367)
Ending Balance, Shares at Jul. 31, 2021			940,621
Balance, July 31, 2020 at Oct. 31, 2020	(12,740)		$ 940		120,191,187	(120,204,867)
Beginning Balance, Shares at Oct. 31, 2020			940,621
Net loss for the period
Balance, July 31, 2021 at Jan. 31, 2021	(12,740)		$ 940		120,191,187	(120,204,867)
Ending Balance, Shares at Jan. 31, 2021			940,621
Net loss for the period
Balance, July 31, 2021 at Apr. 30, 2021	(12,740)		$ 940		120,191,187	(120,204,867)
Ending Balance, Shares at Apr. 30, 2021			940,621
Net loss for the period	(7,500)					(7,500)
Balance, July 31, 2021 at Jul. 31, 2021	(20,240)		$ 940		120,191,187	(120,212,367)
Ending Balance, Shares at Jul. 31, 2021			940,621
Shares issued	1	$ 1
Shares issued, Shares		1,000
Net loss for the period	(42,255)					(42,255)
Balance, July 31, 2021 at Oct. 31, 2021	(62,494)	$ 1	$ 940		120,191,187	(120,254,622)
Ending Balance, Shares at Oct. 31, 2021		1,000	940,621
Balance, July 31, 2020 at Jul. 31, 2021	(20,240)		$ 940		120,191,187	(120,212,367)
Beginning Balance, Shares at Jul. 31, 2021			940,621
Net loss for the period	(63,515)
Balance, July 31, 2021 at Jul. 31, 2022	(83,754)	$ 1	$ 940	$ (520)	120,191,707	(120,275,882)
Ending Balance, Shares at Jul. 31, 2022		1,000	940,621	(520,000)
Balance, July 31, 2020 at Oct. 31, 2021	(62,494)	$ 1	$ 940		120,191,187	(120,254,622)
Beginning Balance, Shares at Oct. 31, 2021		1,000	940,621
Net loss for the period	(13,795)					(13,795)
Balance, July 31, 2021 at Jan. 31, 2022	(76,289)	$ 1	$ 940		120,191,187	(120,268,417)
Ending Balance, Shares at Jan. 31, 2022		1,000	940,621
Net loss for the period	(5,837)					(5,837)
Balance, July 31, 2021 at Apr. 30, 2022	(82,126)	$ 1	$ 940	$ (520)	120,191,707	(120,274,254)
Ending Balance, Shares at Apr. 30, 2022		1,000	940,621	(520,000)
Settlement (Note 6)				$ (520)	520
Settlement, Shares				(520,000)
Net loss for the period	(1,628)					(1,628)
Balance, July 31, 2021 at Jul. 31, 2022	$ (83,754)	$ 1	$ 940	$ (520)	$ 120,191,707	$ (120,275,882)
Ending Balance, Shares at Jul. 31, 2022		1,000	940,621	(520,000)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Cash flows from operating activities
Net loss for the year	$ (63,515)	$ (7,500)
Non-cash expense
Amortization	1,534
Officer compensation	1
Change in working capital items
Prepaid expense	(2,917)
Accounts payable	68,095	7,500
Net cash flows from operating activities	3,198
Change in cash for the year	3,198
Cash, beginning of year
Cash, end of year	3,198
Supplemental disclosures of cash flow Information Cash paid during the year for:
Interest
Income tax
License fee to be paid in common shares (unpaid)	$ 125,000

COMPANY AND BACKGROUND

COMPANY AND BACKGROUND	12 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
COMPANY AND BACKGROUND	Note 1 COMPANY AND BACKGROUND Point of Care Nano-Technology, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on June 10, 2010, under the name of “Alternative Energy and Environmental Solutions, Inc.” On August 28, 2014, the Company filed an amendment to its Articles of Incorporation changing the name of the Company to “Unique Growing Solutions, Inc.” On March 31, 2015, the Company filed an amendment to its Articles of Incorporation changing the name of the Company to “Point of Care Nano-Technology, Inc.” On February 26, 2015, the Company’s business model was related to using its license, under a certain license agreement (the “License Agreement”) from Lamina Equities Corporation, to first develop and then manufacture saliva-based medical diagnosis products. The Company was not successful and discontinued the majority of its operations by July 31, 2016. Beginning from August 2016, the Company’s plan, which it has since discontinued, was to provide business services and financing to emerging growth entities. On April 15, 2021, the Company accepted the resignations of Dr. Guirguis and Mr. El-Salhy, received a mutual release from both, and appointed Mr. Nicholas DeVito to be Director, Chief Executive Officer and Chief Financial Officer. In addition, for his services to the Company, Mr. DeVito was awarded 1,000 shares of Class A Preferred Stock that grants him 80% voting rights. Also on April 15, 2021 the Company agreed to form a subsidiary and transfer all debts and the License Agreement back to Dr. Guirguis in exchange for 520,000 shares of Common Stock. On August 231, 2021, the Company formed the wholly owned subsidiary, DRG Transfer, Inc. This transaction closed on March 26, 2022. On July 2, 2021, the Company incorporated a wholly owned subsidiary, Duo Sciences, Inc. (“DSI”). On April 11, 2022, the Company, through DSI, acquired an exclusive license to distribute certain intellectual property in animal nutrition and animal supplements from Cedoga Consulting, LLC (“Cedoga”). On April 19, 2022, DSI signed an exclusive sales and promotion agreement with Lucy Pet Products Inc. (“Lucy”) pursuant to which Lucy will manufacture, market and distribute pet products from the Cedoga intellectual property. The Company’s principal executive office location and mailing address is 109 Ambersweet Way, Davenport, FL 33897.

CONTROL BY PRINCIPAL OWNERS

CONTROL BY PRINCIPAL OWNERS	12 Months Ended
	Jul. 31, 2022
Control By Principal Owners
CONTROL BY PRINCIPAL OWNERS	Note 2 CONTROL BY PRINCIPAL OWNERS The directors and executive officers own, directly or indirectly, beneficially and in the aggregate, the majority of the voting power of the outstanding capital stock of the Company. Accordingly, directors, executive officers and their affiliates, if they voted their shares uniformly, would have the ability to control the approval of most corporate actions, including approving significant expenses, increasing the authorized capital and the dissolution, merger, or sale of the Company’s assets.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Jul. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	Note 3 GOING CONCERN These financial statements have been prepared in accordance with generally accepted principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next twelve months. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classifications of assets and liabilities should the Company be unable to continue as a going concern. At July 31, 2022, the Company had not yet achieved profitable operations and had accumulated losses of $ 120,275,882 3,198

ACCOUNTING POLICIES

ACCOUNTING POLICIES	12 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
ACCOUNTING POLICIES	Note 4 ACCOUNTING POLICIES The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America, the more significant of which are as follows: Consolidation The accompanying consolidated financial statement include the accounts of the Company and its wholly owned subsidiary Duo Sciences Inc. (“DSI”) 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 and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Actual results could differ from those estimates. Financial Instruments Financial instruments consist of cash and accounts payable and accrued liabilities. The carrying amounts of the financial instruments approximate their fair values due to their relatively short-term nature of the underlying terms are consistent with market terms. As of the financial statement date, the Company does not hold any derivate financial instruments. Financial assets and liabilities are measured upon first recognition and reviewed at the financial statement date. Changes in fair value are recognized through profit and loss. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Fair Value Measurements The Company follows FASB Codification topic (“ASC”) 820, Fair Value Measurements and Disclosures, for all financial instruments and non-financial instruments accounted for at fair value on a recurring basis. This new accounting standard establishes a single definition of fair value and a framework for measuring fair value, sets out a fair value hierarchy to be used to classify the source of information used in fair value measurement and expands disclosures about fair value measurements required under other accounting pronouncements. It does not change existing guidance as to whether or not an instrument is carried at fair value. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk. The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments. An asset or liability’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Availability of observable inputs can vary and is affected by a variety of factors. The Company uses judgment in determining fair value of assets and liabilities, and Level 3 assets and liabilities involve greater judgment than Level 1 and Level 2 assets or liabilities. Income Taxes The Company accounts for income taxes under FASB ASC Topic 740, Income Taxes (“ASC Topic 740”). Under ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities 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. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. As the Company has yet to produce positive cash flows from operations, no deferred tax asset or income taxes have been recorded in the financial statements. Comprehensive Income (Loss) The Company adopted FASB ASC 220, Reporting Comprehensive Income, which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. Comprehensive income consists of net income and other gains and losses affecting stockholder’s equity that are excluded from net income, such as unrealized gains and losses on investments available for sale, foreign currency translation gains and losses and minimum pension liability. Since inception, the Company has not had any comprehensive income / loss. Net Income (Loss) per Common Share FASB ASC 260, Earnings per share, requires dual presentation of basic and diluted earnings per share (EPS) with a reconciliation of the numerator and denominator of the EPS computations. Basic earnings per share amounts are based on the weighted average shares of common stock outstanding. If applicable, diluted earnings per share would assume the conversion, exercise or issuance of all potential common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. Diluted net income (loss) per share on the potential exercise of the equity-based financial instruments is not presented where anti-dilutive. Accordingly, although the diluted weighted average number of common stock outstanding is disclosed on the statements of operation, the calculated net loss per share is the same for bother basic and diluted as both are based on the basic weighted average of common stock outstanding. There were no adjustments required to net income for the period presented in the computation of diluted earnings per share. Segment Reporting FASB ASC 820, “Segments Reporting,” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about geographical areas, business segments and major customers in financial statements. The Company currently operates in one principal business segment. Intangible assets Intangible asset are non-monetary identifiable assets, controlled by the Company that will produce future economic benefits, based on reasonable and supportable assumptions about conditions that will exist over the life of the asset. An intangible asset that does not meet these attributes will be recognized as an expense when it is incurred. Intangible assets that do, are capitalized and initially measure at cost. Those with a determinable life will be amortized on a systematic basis over their future economic life. Those with an indefinite useful life shall not be amortized until its useful life is determined to be longer than indefinite. An intangible asset subject to amortization shall be periodically reviewed for impairment. A recoverability test will be performed and, if applicable, unscheduled amortization is considered. The license agreements has been capitalized, recorded at cost and amortized over its estimated useful life of ten Non-cash transactions The Company follows FASB ASC 845 then recording non-cash transactions. The value of the asset received should be based on the value of the assets surrendered. However, where that value is difficult to determine, then the value could be based on the asset received, provided it is more clearly evident than the value of the asset surrendered. Related Parties The Company adopted FASB ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions. Recent Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow.

COMMON and PREFERRED STOCK

COMMON and PREFERRED STOCK	12 Months Ended
	Jul. 31, 2022
Equity [Abstract]
COMMON and PREFERRED STOCK	Note 5 COMMON and PREFERRED STOCK The Company has authorized capital of 100,000,000 0.0001 10,000,000 0.0001 On June 8, 2022, the Company received approval from the Financial Industry Regulatory Authority to effect a 50:1 reverse split of the Company’s outstanding common stock. On August 2, 2021, the Company issued 1,000 Nicholas DeVito On April 10, 2022, the Company entered into an agreement under which it agreed to issue 300,000 common shares in order to obtain a license to distribute product (See below). The Company has not yet issued those shares and the obligation to do so is included in the accounts as a $ 125,000 On April 15, 2022, as part of the Settlement agreement (See below), the Company received into treasury 520,000 There were no transactions in the Company’s common or preferred stock in the year ended July 31, 2021. There were no warrants or options outstanding as of July 31, 2022.

SETTLEMENT AGREEMENT

SETTLEMENT AGREEMENT	12 Months Ended
	Jul. 31, 2022
Settlement Agreement
SETTLEMENT AGREEMENT	Note 6 SETTLEMENT AGREEMENT On April 15, 2021, the Company formed a wholly owned subsidiary, DRG Transfer Inc. (“DRG”) and transferred all Company debts relating to the License Agreement business and the License Agreement to DRG to be split off to Dr. Guirguis in exchange for 520,000 share (26,000,000 shares pre reverse split) of the Company’s common stock held by Dr. Guirguis. This transaction closed on March 26, 2022 with Dr. Guirguis giving up and transferring to DRG all the rights, title and interest in the 520,000

LICENSE PURCHASED and INTANGIBL

LICENSE PURCHASED and INTANGIBLE ASSETS	12 Months Ended
	Jul. 31, 2022
License Purchased And Intangible Assets
LICENSE PURCHASED and INTANGIBLE ASSETS	Note 7 LICENSE PURCHASED and INTANGIBLE ASSETS On April 11, 2022, the Company, through its wholly owned subsidiary DSI, acquired an exclusive license to distribute in the USA, Canada and Mexico, certain intellectual property in animal nutrition and animal supplements from Cedoga Consulting, LLC. The Company receives 10% of all licensing fees due to Cedoga in exchange for 300,000 post reverse split shares of common stock of the Company. Under the terms of the agreement, the Company will pay royalties from sub-licensing on the following basis: ● 90% of net royalties for sale and initial payments up to $100,000,000 per calendar year. ● 95% of net royalties received for continuing sales above $100,000,000 per calendar year. ● 90% of any lump up-front payment sub-licensing fees. ● Option to purchase 200,000 shares of the Company’s common stock when net sales exceed $100,000,000. The license value has been based on the expected discounted cash flows the license will generate to the Company over its estimated 10 year life. The Company’s common shares are very lightly traded and management determined that their market value are not reliable as a determinant of value for this transaction. Schedule of License Purchased As of July 31 2022 2021 License $ 125,000 $ - Accumulated amortization 1,534 - Balance, end of year $ 123,466 $ -

EXCLUSIVE SALES SUB-LICENSING A

EXCLUSIVE SALES SUB-LICENSING AGREEMENT	12 Months Ended
	Jul. 31, 2022
Exclusive Sales Sub-licensing Agreement
EXCLUSIVE SALES SUB-LICENSING AGREEMENT	Note 8 EXCLUSIVE SALES SUB-LICENSING AGREEMENT On April 19, 2022, DSI signed an exclusive sales and promotion sub-licensing agreement with Lucy Pet Products Inc. (“Lucy”) pursuant to which Lucy will manufacture, market and distribute pet products derived from the Cedoga intellectual property. The terms of the sub-licensing agreement are as follows: ● Lucy will pay the Company a one-time sub-license fee of $100,000 on execution of the sub-licensing agreement. ● Lucy will pay the Company royalties of 5% of Net Revenue, calculated and payable quarterly. Net Revenue is defined as total revenue less direct cost of materials, manufacturing, packaging and delivery expenses and less excise, sales or similar taxes. On May 11, 2022, the Company received the first payment from Lucy of $ 100,000 90,000

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jul. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	Note 9 INCOME TAXES As at July 31, 2022, no tax benefit has been recorded with respect to the net operating loss in the financial statements as the management of the Company believes that the realization of the Company’s net deferred tax assets would not be considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by the full valuation allowance. The Company has a net operating loss carryforward of approximately $ 1,813,968 Income tax recovery differs from that which would be expected from applying the effective tax rates to the net loss for the years ended July 31, 2022 and 2021 as follows: Schedule of Income tax Reconciliation Year Ended July 31 2022 2021 Net loss for the year $ (63,515 ) $ (7,500 ) Statutory and effective tax rate 25.46 % 25.46 % Expected income tax recovery $ (16,162 ) $ (1,909 ) Tax benefit deferred 16,162 1,909 Income taxes recorded $ - $ - Schedule of Deferred Tax Assets Year Ended July 31 2022 2021 Tax losses carried forward $ 1,814,000 $ 1,750,000 Statutory and effective tax rate 25.46 % 25.46 % Deferred tax asset $ 462,000 $ 446,000 Valuation allowance (462,000 ) (446,000 ) Net deferred tax asset $ - $ - The Company’s income tax filings are subject to audit by various taxing authorities. The Company’s open audit periods include from Inception (June 10, 2010) to the current tax year.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jul. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Note 10 SUBSEQUENT EVENTS On August 24, 2022, the Company completed a financing with an investor for $10,000 in exchange for Units consisting of (i) one share of common stock, par value $0.001 per share for $0.10 per share, (ii) one LOI option to purchase one share of common stock for $0.20 per share upon the Company signing a letter of intent with a third party and (iii) one Agreement option to purchase one share of common stock for $0.30 per share upon the Company signing an agreement with a third party.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
Consolidation	Consolidation The accompanying consolidated financial statement include the accounts of the Company and its wholly owned subsidiary Duo Sciences Inc. (“DSI”)
Use of Estimates	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 and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Actual results could differ from those estimates.
Financial Instruments	Financial Instruments Financial instruments consist of cash and accounts payable and accrued liabilities. The carrying amounts of the financial instruments approximate their fair values due to their relatively short-term nature of the underlying terms are consistent with market terms. As of the financial statement date, the Company does not hold any derivate financial instruments. Financial assets and liabilities are measured upon first recognition and reviewed at the financial statement date. Changes in fair value are recognized through profit and loss. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments.
Fair Value Measurements	Fair Value Measurements The Company follows FASB Codification topic (“ASC”) 820, Fair Value Measurements and Disclosures, for all financial instruments and non-financial instruments accounted for at fair value on a recurring basis. This new accounting standard establishes a single definition of fair value and a framework for measuring fair value, sets out a fair value hierarchy to be used to classify the source of information used in fair value measurement and expands disclosures about fair value measurements required under other accounting pronouncements. It does not change existing guidance as to whether or not an instrument is carried at fair value. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk. The Company has adopted FASB ASC 825, Financial Instruments, which allows companies to choose to measure eligible financial instruments and certain other items at fair value that are not required to be measured at fair value. The Company has not elected the fair value option for any eligible financial instruments. An asset or liability’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Availability of observable inputs can vary and is affected by a variety of factors. The Company uses judgment in determining fair value of assets and liabilities, and Level 3 assets and liabilities involve greater judgment than Level 1 and Level 2 assets or liabilities.
Income Taxes	Income Taxes The Company accounts for income taxes under FASB ASC Topic 740, Income Taxes (“ASC Topic 740”). Under ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities 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. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. As the Company has yet to produce positive cash flows from operations, no deferred tax asset or income taxes have been recorded in the financial statements.
Comprehensive Income (Loss)	Comprehensive Income (Loss) The Company adopted FASB ASC 220, Reporting Comprehensive Income, which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. Comprehensive income consists of net income and other gains and losses affecting stockholder’s equity that are excluded from net income, such as unrealized gains and losses on investments available for sale, foreign currency translation gains and losses and minimum pension liability. Since inception, the Company has not had any comprehensive income / loss.
Net Income (Loss) per Common Share	Net Income (Loss) per Common Share FASB ASC 260, Earnings per share, requires dual presentation of basic and diluted earnings per share (EPS) with a reconciliation of the numerator and denominator of the EPS computations. Basic earnings per share amounts are based on the weighted average shares of common stock outstanding. If applicable, diluted earnings per share would assume the conversion, exercise or issuance of all potential common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. Diluted net income (loss) per share on the potential exercise of the equity-based financial instruments is not presented where anti-dilutive. Accordingly, although the diluted weighted average number of common stock outstanding is disclosed on the statements of operation, the calculated net loss per share is the same for bother basic and diluted as both are based on the basic weighted average of common stock outstanding. There were no adjustments required to net income for the period presented in the computation of diluted earnings per share.
Segment Reporting	Segment Reporting FASB ASC 820, “Segments Reporting,” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about geographical areas, business segments and major customers in financial statements. The Company currently operates in one principal business segment.
Intangible assets	Intangible assets Intangible asset are non-monetary identifiable assets, controlled by the Company that will produce future economic benefits, based on reasonable and supportable assumptions about conditions that will exist over the life of the asset. An intangible asset that does not meet these attributes will be recognized as an expense when it is incurred. Intangible assets that do, are capitalized and initially measure at cost. Those with a determinable life will be amortized on a systematic basis over their future economic life. Those with an indefinite useful life shall not be amortized until its useful life is determined to be longer than indefinite. An intangible asset subject to amortization shall be periodically reviewed for impairment. A recoverability test will be performed and, if applicable, unscheduled amortization is considered. The license agreements has been capitalized, recorded at cost and amortized over its estimated useful life of ten
Non-cash transactions	Non-cash transactions The Company follows FASB ASC 845 then recording non-cash transactions. The value of the asset received should be based on the value of the assets surrendered. However, where that value is difficult to determine, then the value could be based on the asset received, provided it is more clearly evident than the value of the asset surrendered.
Related Parties	Related Parties The Company adopted FASB ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow.

LICENSE PURCHASED and INTANGI_2

LICENSE PURCHASED and INTANGIBLE ASSETS (Tables)	12 Months Ended
	Jul. 31, 2022
License Purchased And Intangible Assets
Schedule of License Purchased	Schedule of License Purchased
LICENSE PURCHASED and INTANGIBLE ASSETS	As of July 31 2022 2021 License $ 125,000 $ - Accumulated amortization 1,534 - Balance, end of year $ 123,466 $ -

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income tax Reconciliation	Income tax recovery differs from that which would be expected from applying the effective tax rates to the net loss for the years ended July 31, 2022 and 2021 as follows: Schedule of Income tax Reconciliation
INCOME TAXES	Year Ended July 31 2022 2021 Net loss for the year $ (63,515 ) $ (7,500 ) Statutory and effective tax rate 25.46 % 25.46 % Expected income tax recovery $ (16,162 ) $ (1,909 ) Tax benefit deferred 16,162 1,909 Income taxes recorded $ - $ -
Schedule of Deferred Tax Assets	Schedule of Deferred Tax Assets
INCOME TAXES (Details 2)	Year Ended July 31 2022 2021 Tax losses carried forward $ 1,814,000 $ 1,750,000 Statutory and effective tax rate 25.46 % 25.46 % Deferred tax asset $ 462,000 $ 446,000 Valuation allowance (462,000 ) (446,000 ) Net deferred tax asset $ - $ -

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Jul. 31, 2022	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Retained Earnings (Accumulated Deficit)	$ 120,275,882	$ 120,212,367
Cash Equivalents, at Carrying Value	$ 3,198

ACCOUNTING POLICIES (Details Na

ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
Finite-Lived Intangible Asset, Useful Life	10 years

COMMON and PREFERRED STOCK (Det

COMMON and PREFERRED STOCK (Details Narrative) - USD ($)		12 Months Ended
	Jun. 08, 2022	Jul. 31, 2022	Jul. 31, 2021	Apr. 15, 2022	Mar. 26, 2022	Aug. 02, 2021
Equity [Abstract]
Common Stock, Shares Authorized		100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share		$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized		10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.0001	$ 0.0001
Stockholders' Equity, Reverse Stock Split	On June 8, 2022, the Company received approval from the Financial Industry Regulatory Authority to effect a 50:1 reverse split of the Company’s outstanding common stock.
Preferred Stock, Shares Issued		1,000	1,000			1,000
[custom:LicenseFeeToBePaidInCommonShares]		$ 125,000
Treasury Stock, Shares		520,000		520,000	520,000

SETTLEMENT AGREEMENT (Details N

SETTLEMENT AGREEMENT (Details Narrative) - shares	Jul. 31, 2022	Apr. 15, 2022	Mar. 26, 2022
Settlement Agreement
Treasury Stock, Shares	520,000	520,000	520,000

LICENSE PURCHASED and INTANGI_3

LICENSE PURCHASED and INTANGIBLE ASSETS (Details) - USD ($)	12 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
License Purchased And Intangible Assets
License	$ 125,000
Accumulated amortization	1,534
Balance, end of year	$ 123,466

EXCLUSIVE SALES SUB-LICENSING_2

EXCLUSIVE SALES SUB-LICENSING AGREEMENT (Details Narrative) - USD ($)		12 Months Ended
	May 11, 2022	Jul. 31, 2022	Jul. 31, 2021
Exclusive Sales Sub-licensing Agreement
Revenues, Excluding Interest and Dividends	$ 100,000	$ 100,000
Royalty Expense	$ 90,000	$ 90,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended								12 Months Ended
	Jul. 31, 2022	Apr. 30, 2022	Jan. 31, 2022	Oct. 31, 2021	Jul. 31, 2021	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2022	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Net loss for the year	$ (1,628)	$ (5,837)	$ (13,795)	$ (42,255)	$ (7,500)				$ (63,515)	$ (7,500)
Statutory and effective tax rate									25.46%	25.46%
Expected income tax recovery									$ (16,162)	$ (1,909)
Tax benefit deferred									16,162	1,909
Income taxes recorded

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	12 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Tax losses carried forward	$ 1,814,000	$ 1,750,000
Statutory and effective tax rate	25.46%	25.46%
Deferred tax asset	$ 462,000	$ 446,000
Valuation allowance	(462,000)	(446,000)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Jul. 31, 2022 USD ($)
Income Tax Disclosure [Abstract]
Operating Loss Carryforwards	$ 1,813,968