Cover
Cover - shares | 3 Months Ended | |
Apr. 30, 2021 | Jun. 14, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | NEUTRA CORP. | |
Entity Central Index Key | 0001512886 | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2021 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --01-31 | |
Entity Incorporation State Country Code | WY | |
Entity File Number | 0-55077 | |
Entity Reporting Status Current | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth | false | |
Entity Common Stock, Shares Outstanding | 1,518,950,011 | |
Entity Shell Company | false | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) | Apr. 30, 2021 | Jan. 31, 2021 |
CURRENT ASSETS | ||
Cash | $ 18,679 | $ 23,308 |
Deposits | 1,610 | 1,610 |
Accounts receivable | 190 | 25 |
Total current assets | 20,479 | 24,943 |
Property and equipment, net | 187,838 | 165,824 |
TOTAL ASSETS | 208,317 | 190,767 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 429,396 | 426,482 |
Accounts payable to related party | 131,755 | 131,755 |
Advances payable | 3,450 | 3,450 |
Advance payable to related party | 2,314 | 16,236 |
PPP loan payable | 11,262 | |
Dividends payable on Series G preferred stock | 3,968 | 2,634 |
Convertible notes payable, in default | 239,711 | 239,711 |
Accrued interest payable | 196,287 | 181,675 |
Total current liabilities | 1,018,143 | 1,001,943 |
TOTAL LIABILITIES | 1,018,143 | 1,001,943 |
COMMITMENTS AND CONTINGENCIES | ||
MEZZANINE EQUITY | ||
Series G preferred stock; $1.00 stated value, 235,700 shares and 156,300 shares issued and outstanding at April 30, 2021 and January 31, 2021, respectively | 235,700 | 156,300 |
STOCKHOLDERS' DEFICIT | ||
Common stock, $0.001 par value; unlimited shares authorized; 1,518,950,011 and 1,492,765,422 shares issued and outstanding at April 30, 2021 and January 31, 2021, respectively | 1,518,950 | 1,492,765 |
Additional paid-in capital | 7,489,650 | 7,427,709 |
Preferred stock subscribed but not issued | 250,000 | 250,000 |
Accumulated deficit | (10,306,176) | (10,140,000) |
Total stockholders' deficit | (1,045,526) | (967,476) |
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT | 208,317 | 190,767 |
Series A Convertible Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, value | 50 | 50 |
Total stockholders' deficit | 50 | 50 |
Series E Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, value | 1,000 | 1,000 |
Total stockholders' deficit | 1,000 | 1,000 |
Series F Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, value | 1,000 | 1,000 |
Total stockholders' deficit | $ 1,000 | $ 1,000 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended |
Apr. 30, 2021 | Jan. 31, 2021 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized, unlimited | Unlimited | Unlimited |
Common stock, issued | 1,518,950,011 | 1,492,765,422 |
Common stock, outstanding | 1,518,950,011 | 1,492,765,422 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 20,000,000 | 20,000,000 |
Series G Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, issued | 235,700 | 235,700 |
Preferred stock, outstanding | 156,300 | 156,300 |
Series A Convertible Preferred Stock [Member] | ||
Preferred stock, issued | 50,000 | 50,000 |
Preferred stock, outstanding | 50,000 | 50,000 |
Series E Preferred Stock [Member] | ||
Preferred stock, issued | 1,000,000 | 1,000,000 |
Preferred stock, outstanding | 1,000,000 | 1,000,000 |
Series F Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, issued | 1,000,000 | 1,000,000 |
Preferred stock, outstanding | 1,000,000 | 1,000,000 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Income Statement [Abstract] | ||
REVENUE | $ 11,553 | $ 3,036 |
COST OF GOODS SOLD | 10,261 | 1,023 |
GROSS MARGIN | 1,292 | 2,013 |
OPERATING EXPENSES | ||
Depreciation | 18,212 | |
Sales commissions | 2,914 | |
General and administrative | 102,869 | 50,531 |
LOSS FROM OPERATIONS | (122,703) | (48,518) |
OTHER INCOME (EXPENSE) | ||
Interest expense | (14,613) | (61,855) |
Total other income (expense) | (14,613) | (61,855) |
NET LOSS | (137,316) | (110,373) |
Deemed dividend on Series G convertible preferred stock | (28,860) | |
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS | $ (166,176) | $ (110,373) |
NET LOSS PER COMMON SHARE - Basic and fully diluted (in dollars per share) | $ 0 | $ 0 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic and fully diluted (in shares) | 1,503,852,887 | 684,755,781 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (UNAUDITED) - USD ($) | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Stock Subscribed But Not Issued [Member] | Series A Convertible Preferred Stock [Member] | Series E Preferred Stock [Member] | Series F Preferred Stock [Member] | Total |
Balance at beginning at Jan. 31, 2020 | $ 616,198 | $ 8,091,570 | $ (9,559,308) | $ 50 | $ 1,000 | $ 1,000 | $ (849,490) | |
Balance at beginning (in shares) at Jan. 31, 2020 | 616,198,035 | 50,000 | 1,000,000 | 1,000,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Common stock issued for debt conversion | $ 314,534 | (269,034) | 45,500 | |||||
Common stock issued for debt conversion (in shares) | 314,534,051 | |||||||
Net loss | (110,373) | (110,373) | ||||||
Balance at ending at Apr. 30, 2020 | $ 930,732 | 7,822,536 | (9,669,681) | $ 50 | $ 1,000 | $ 1,000 | (914,363) | |
Balance at ending (in shares) at Apr. 30, 2020 | 930,732,086 | 50,000 | 1,000,000 | 1,000,000 | ||||
Balance at beginning at Jan. 31, 2021 | $ 1,492,765 | 7,427,709 | (10,140,000) | 250,000 | $ 50 | $ 1,000 | $ 1,000 | (967,476) |
Balance at beginning (in shares) at Jan. 31, 2021 | 1,492,765,422 | 50,000 | 1,000,000 | 1,000,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Common stock issued for preferred stock conversion | $ 26,185 | 61,941 | 88,126 | |||||
Common stock issued for preferred stock conversion (in shares) | 26,184,589 | |||||||
Dividends on Series G preferred stock | (4,260) | (4,260) | ||||||
Deemed dividend on Series G preferred stock | (24,600) | (24,600) | ||||||
Net loss | (137,316) | (137,316) | ||||||
Balance at ending at Apr. 30, 2021 | $ 1,518,950 | $ 7,489,650 | $ (10,306,176) | $ 250,000 | $ 50 | $ 1,000 | $ 1,000 | $ (1,045,526) |
Balance at ending (in shares) at Apr. 30, 2021 | 1,518,950,011 | 50,000 | 1,000,000 | 1,000,000 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGE IN MEZZANINE EQUITY - 3 months ended Apr. 30, 2021 | Series G Preferred Stock [Member]USD ($)shares |
Balance at beginning at Jan. 31, 2021 | $ | $ 156,300 |
Balance at beginning (in shares) at Jan. 31, 2021 | shares | 156,300 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |
Series G preferred stock issued for cash | $ | $ 164,600 |
Series G preferred stock issued for cash (in shares) | shares | 164,600 |
Series G preferred stock converted to common stock | $ | $ (85,200) |
Series G preferred stock converted to common stock (in shares) | shares | (85,200) |
Balance at ending at Apr. 30, 2021 | $ | $ 235,700 |
Balance at ending (in shares) at Apr. 30, 2021 | shares | 235,700 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||
Net loss | $ (137,316) | $ (110,373) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization of discount on convertible note payable | 42,539 | |
Depreciation | 18,212 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (165) | |
Prepaid expenses | ||
Inventory | 1,005 | |
Accounts payable and accrued liabilities | 2,914 | 101 |
Accrued interest payable | 14,612 | 19,317 |
NET CASH USED IN OPERATING ACTIVITIES | (101,743) | (47,411) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of fixed assets | (40,226) | (80,254) |
NET CASH USED IN INVESTING ACTIVITIES | (40,226) | (80,254) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayments of advance from related party | (13,922) | |
Proceeds from sale of Series G convertible preferred stock | 140,000 | |
Proceeds from issuance of note payable | 11,262 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 137,340 | |
NET DECREASE IN CASH | (4,629) | (127,665) |
CASH, at the beginning of the period | 23,308 | 177,176 |
CASH, at the end of the period | 18,679 | 49,511 |
Cash paid during the period for: | ||
Interest | ||
Taxes | ||
Noncash investing and financing transaction: | ||
Conversion of Series G preferred stock | 85,200 | |
Conversion of convertible notes payable | 45,500 | |
Beneficial conversion discount on convertible notes payable | ||
Deemed dividend on Series G convertible preferred stock | $ 24,600 |
Background Information
Background Information | 3 Months Ended |
Apr. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Background Information | Note 1. Background Information Neutra Corp. was incorporated in Nevada on January 11, 2011 to market and participate in the nutraceutical space by bringing products derived from all natural and organic origins. Along with participating in the actual nutraceutical products, we plan to research and bring new technology to the nutraceutical space. Nutraceutical natural medicine is an alternative system that focuses on natural remedies and the body’s vital ability to heal and maintain itself. One of the nutraceutical sub-markets is the new thriving medical cannabis market, in which we intend to participate. We intend to entrust the manufacturing to a nutraceutical contractor to private label all of our products and to sell them under our unique brand. We have established a fiscal year end of January 31. As the global cannabis market grows exponentially, it is constantly in need of better technologies and products to be more efficient in how it grows, what it grows and how it consumes cannabis and its related products. From lighting to dosage devices, from pesticide replacements to plant enhancers, Neutra Corp. is constantly combing the industry for the latest and greatest to test, prove and bring to market. We have generated limited revenues to date and our activities have been primarily limited to developing our business plan and research and development of products. We will not have the necessary capital to fully develop or execute our business plan until we are able to secure additional financing. There can be no assurance that such financing will be available on suitable terms. We need to raise additional funds in order to implement our business plan. Our current cash on hand is insufficient to commercialize our products or fully develop our business strategy. If we are unable to raise adequate additional funds or if those funds are not available on terms that are acceptable to us, we will not be able to execute our business plan and we may cease operations. |
Going Concern
Going Concern | 3 Months Ended |
Apr. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 2. Going Concern For the three months ended April 30, 2021, the Company had a net loss of $137,316 and did not have positive cash flow from operations. As of April 30, 2021, the Company has negative working capital of $997,664. These factors raise a substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern. The Company does not have the resources at this time to repay its credit and debt obligations, make any payments in the form of dividends to its shareholders or fully implement its business plan. Without additional capital, the Company will not be able to remain in business. Management has plans to address the Company’s financial situation as follows: In the near term, management plans to continue to focus on raising the funds necessary to implement the Company’s business plan. Management will continue to seek out debt financing to obtain the capital required to meet the Company’s financial obligations. There is no assurance, however, that lenders will continue to advance capital to the Company or that the new business operations will be profitable. The possibility of failure in obtaining additional funding and the potential inability to achieve profitability raises doubts about the Company’s ability to continue as a going concern. In the long term, management believes that the Company’s projects and initiatives will be successful and will provide cash flow to the Company that will be used to finance the Company’s future growth. However, there can be no assurances that the Company’s planned activities will be successful, or that the Company will ultimately attain profitability. The Company’s long-term viability depends on its ability to obtain adequate sources of debt or equity funding to meet current commitments and fund the continuation of its business operations, and the ability of the Company to achieve adequate profitability and cash flows from operations to sustain its operations. |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2021 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 3. Significant Accounting Policies The significant accounting policies that the Company follows are: Interim Financial Statements The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and such adjustments are of a normal recurring nature. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended January 31, 2021 and notes thereto and other pertinent information contained in our Form 10-K that we filed with the Securities and Exchange Commission (the “SEC”). The results of operations for the three-month period ended April 30, 2021 are not necessarily indicative of the results to be expected for the full fiscal year ending January 31, 2022. Basis of Presentation The condensed consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The condensed consolidated financial statements have been prepared using the accrual basis of accounting in accordance with GAAP. Consolidated Financial Statements The condensed consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, Diamond Anvil Designs, LLC and Vivis Corporation (Vivis), from the date of their formations or acquisition. Significant intercompany transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Property and Equipment, net Property and equipment consist of equipment used to manufacture the Company’s products and is presented at cost. Depreciation is recognized over the useful life of the equipment on a straight-line basis over three years beginning when the asset is put in service. For the three months ended April 30, 2021, the Company recognized depreciation expense of $18,212. The Company did not record any depreciation expense during the three months ended April 30, 2020. Revenue Recognition On February 1, 2018, the Company adopted ASC 606, Revenue from Contracts with Customers ASC 606 requires that an entity recognize revenue to depict the transfer of control 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. For the three months ended April 30, 2021 and 2020, revenue from contracts with customers was $11,553 and $3,036, respectively. Earnings (Loss) per Common Share We compute basic and diluted earnings per common share amounts in accordance with ASC Topic 260, Earnings per Share Commitments and Contingencies The Company follows ASC 450-20, Loss Contingencies Mezzanine equity Where ordinary or preferred shares are determined to be conditionally redeemable upon the occurrence of certain events that are not solely within the control of the issuer, and upon such event, the shares would become redeemable at the option of the holders, they are classified as ‘mezzanine equity’ (temporary equity). The purpose of this classification is to convey that such a security may not be permanently part of equity and could result in a demand for cash, securities or other assets of the entity in the future. |
Deposits
Deposits | 3 Months Ended |
Apr. 30, 2021 | |
Deposits [Abstract] | |
Deposits | Note 4. Deposits Deposits represent cash on deposit with the Company’s attorney. As of April 30, 2021 and January 31, 2021, the Company had amounts on deposit with its attorney in the amount of $1,610 and $1,610, respectively. |
Property and equipment, net
Property and equipment, net | 3 Months Ended |
Apr. 30, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property and equipment, net | Note 5. Property and equipment, net Property and equipment consist of the following: April 30, 2021 January 31, 2021 Equipment $ 236,716 $ 196,490 Total property and equipment 236,716 196,490 Less: accumulated depreciation (48,878 ) (30,666 ) Property and equipment, net $ 187,838 $ 165,824 |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Apr. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 6. Related Party Transactions During the three months ended April 30, 2021, we incurred and paid salary expense of $25,000 to our CEO, Sydney Jim. In addition, we incurred commission expense of $2,914 payable to Mr. Jim during the same period. The commissions were not paid during the period. During the three months ended April 30, 2021, the Company repaid advances of $13,922 owed to Mr. Jim. As of April 30, 2021, we owe Mr. Jim, or entities controlled by him, $46,633, which is recorded on the balance sheet in “Accounts Payable – Related Party” and “Advances payable to related party.” |
Advances
Advances | 3 Months Ended |
Apr. 30, 2021 | |
Debt Disclosure [Abstract] | |
Advances | Note 7. Advances As of April 30, 2021 and January 31, 2021, we had amounts due under advances of $3,450 at each period. These advances are not collateralized, non-interest bearing and are due on demand. |
Convertible Notes Payable
Convertible Notes Payable | 3 Months Ended |
Apr. 30, 2021 | |
Debt Disclosure [Abstract] | |
Convertible Notes Payable | Note 8. Convertible Notes Payable Convertible notes payable consists of the following as of April 30, 2021 and January 31, 2021: April 30, 2021 January 31, 2021 Convertible note, dated October 31, 2015, bearing interest at 10% per annum, bearing default interest at 25% per annum, matured on October 31, 2018 and convertible into shares of common stock at $0.50 per share, in default $ 156,976 $ 156,976 Convertible note, dated January 31, 2016, bearing interest at 10% per annum, bearing default interest at 25% per annum, matured on January 31, 2019 and convertible into shares of common stock at a 60% discount to the market price, in default 82,735 82,735 Total convertible notes payable $ 239,711 $ 239,711 Less: convertible notes payable, in default (239,711 ) (239,711 ) Current convertible notes payable, net of discount $ — $ — Convertible Promissory Notes During the three months ended April 30, 2021 and 2020, we recorded amortization of discounts on convertible notes payable and recognized interest expense of $nil and $42,539, respectively. Conversions to Common Stock During the three months ended April 30, 2020, the holders of our convertible promissory notes converted $45,500 of principal into 314,534,051 shares of our common stock. See Note 9 for a detail of the conversions. No gain or loss was recognized on the conversions as they occurred within the terms of the agreement which provided for conversion. |
Shareholders' Equity
Shareholders' Equity | 3 Months Ended |
Apr. 30, 2021 | |
Equity [Abstract] | |
Stockholders' Equity | Note 9. Shareholders’ Equity Conversions to common stock During three months ended April 30, 2021, the holders of our Series G preferred stock elected to preferred shares and accumulated dividends into shares of common stock as detailed below: Date Preferred Shares Converted Amount Converted Number of March 4, 2021 48,200 $ 49,646 15,190,303 April 19, 2021 37,000 38,480 10,994,286 Total 85,200 $ 88,126 26,184,589 During three months ended April 30, 2020, the holders of our convertible notes elected to convert principal and interest into shares of common stock as detailed below: Date Amount Number of March 3, 2020 $ 9,500 30,645,161 March 20, 2020 5,800 32,222,222 April 1, 2020 3,800 31,666,667 April 3, 2020 3,800 31,666,667 April 13, 2020 3,800 31,666,667 April 16, 2020 4,400 36,666,667 April 20, 2020 4,800 40,000,000 April 24, 2020 4,800 40,000,000 April 27, 2020 4,800 40,000,000 Total $ 45,500 314,534,051 No gain or loss was recognized on the above conversions as they occurred within the terms of the agreement which provided for conversion. Series G convertible preferred stock In three months ended April 30, 2021, the Company issued 164,600 shares of Series G convertible preferred stock and received cash proceeds of $140,000. The Series G convertible preferred stock has a stated value of $1.00 per share, carries no voting rights and earns dividends of 8% per annum on the stated value of the stock. Dividends are payable on liquidation, redemption or conversion. The Series G convertible preferred stock is redeemable at the option of the Company during the first six months it is outstanding at a premium of between 3% and 33% depending on the date of redemption. After the stock has been outstanding for six months, it is convertible into common stock of the Company at a 29% discount to the market value of the common stock. The Series G convertible preferred stock is included in mezzanine equity on the condensed consolidated balance sheet, because it is convertible at the stated value into a variable number of shares. The $24,600 difference between the stated value of the stock and the proceeds received has been recognized as a deemed dividend to the preferred shareholders. During the three months ended April 30, 2021, the Company accrued dividends of $4,260. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The condensed consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The condensed consolidated financial statements have been prepared using the accrual basis of accounting in accordance with GAAP. |
Consolidated Financial Statements | Consolidated Financial Statements The condensed consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, Diamond Anvil Designs, LLC and Vivis Corporation (Vivis), from the date of their formations or acquisition. Significant intercompany transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Property and Equipment, net | Property and Equipment, net Property and equipment consist of equipment used to manufacture the Company’s products and is presented at cost. Depreciation is recognized over the useful life of the equipment on a straight-line basis over three years beginning when the asset is put in service. For the three months ended April 30, 2021, the Company recognized depreciation expense of $18,212. The Company did not record any depreciation expense during the three months ended April 30, 2020. |
Revenue Recognition | Revenue Recognition On February 1, 2018, the Company adopted ASC 606, Revenue from Contracts with Customers ASC 606 requires that an entity recognize revenue to depict the transfer of control 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. For the three months ended April 30, 2021 and 2020, revenue from contracts with customers was $11,553 and $3,036, respectively. |
Earnings (Loss) per Common Share | Earnings (Loss) per Common Share We compute basic and diluted earnings per common share amounts in accordance with ASC Topic 260, Earnings per Share |
Commitments and Contingencies | Commitments and Contingencies The Company follows ASC 450-20, Loss Contingencies |
Mezzanine equity | Mezzanine equity Where ordinary or preferred shares are determined to be conditionally redeemable upon the occurrence of certain events that are not solely within the control of the issuer, and upon such event, the shares would become redeemable at the option of the holders, they are classified as ‘mezzanine equity’ (temporary equity). The purpose of this classification is to convey that such a security may not be permanently part of equity and could result in a demand for cash, securities or other assets of the entity in the future. |
Property and equipment, net (Ta
Property and equipment, net (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | Property and equipment consist of the following: April 30, 2021 January 31, 2021 Equipment $ 236,716 $ 196,490 Total property and equipment 236,716 196,490 Less: accumulated depreciation (48,878 ) (30,666 ) Property and equipment, net $ 187,838 $ 165,824 |
Convertible Notes Payable (Tabl
Convertible Notes Payable (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of convertible notes payable | Convertible notes payable consists of the following as of April 30, 2021 and January 31, 2021: April 30, 2021 January 31, 2021 Convertible note, dated October 31, 2015, bearing interest at 10% per annum, bearing default interest at 25% per annum, matured on October 31, 2018 and convertible into shares of common stock at $0.50 per share, in default $ 156,976 $ 156,976 Convertible note, dated January 31, 2016, bearing interest at 10% per annum, bearing default interest at 25% per annum, matured on January 31, 2019 and convertible into shares of common stock at a 60% discount to the market price, in default 82,735 82,735 Total convertible notes payable $ 239,711 $ 239,711 Less: convertible notes payable, in default (239,711 ) (239,711 ) Current convertible notes payable, net of discount $ — $ — |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Equity [Abstract] | |
Schedule of conversions to common stock | During three months ended April 30, 2021, the holders of our Series G preferred stock elected to preferred shares and accumulated dividends into shares of common stock as detailed below: Date Preferred Shares Converted Amount Converted Number of March 4, 2021 48,200 $ 49,646 15,190,303 April 19, 2021 37,000 38,480 10,994,286 Total 85,200 $ 88,126 26,184,589 During three months ended April 30, 2020, the holders of our convertible notes elected to convert principal and interest into shares of common stock as detailed below: Date Amount Number of March 3, 2020 $ 9,500 30,645,161 March 20, 2020 5,800 32,222,222 April 1, 2020 3,800 31,666,667 April 3, 2020 3,800 31,666,667 April 13, 2020 3,800 31,666,667 April 16, 2020 4,400 36,666,667 April 20, 2020 4,800 40,000,000 April 24, 2020 4,800 40,000,000 April 27, 2020 4,800 40,000,000 Total $ 45,500 314,534,051 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net loss | $ (137,316) | $ (110,373) |
Working capital | $ 997,664 |
Significant Accounting Polici_3
Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Depreciation expense | $ 18,212 | |
Revenue from contracts with customers | $ 11,553 | $ 3,036 |
Equipment [Member] | ||
Useful life | 3 years | |
Depreciation expense | $ 18,212 |
Deposits (Details Narrative)
Deposits (Details Narrative) - USD ($) | Apr. 30, 2021 | Jan. 31, 2021 |
Deposits [Abstract] | ||
Deposits | $ 1,610 | $ 1,610 |
Property and equipment, net (De
Property and equipment, net (Details) - USD ($) | Apr. 30, 2021 | Jan. 31, 2021 |
Total property and equipment | $ 236,716 | $ 196,490 |
Less: accumulated depreciation | (48,878) | (30,666) |
Property and equipment, net | 187,838 | 165,824 |
Equipment [Member] | ||
Total property and equipment | $ 236,716 | $ 196,490 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Jan. 31, 2021 | |
Advance payable to related party | $ 2,314 | $ 16,236 |
Sydney Jim [Member] | ||
Salary expense | 25,000 | |
Commission expense | 2,914 | |
Advance payable to related party | 13,922 | |
Sydney Jim [Member] | Accounts Payable - Related Party and Advances Payable To Related Party [Member] | ||
Due to related party | $ 46,633 |
Advances (Details Narrative)
Advances (Details Narrative) - USD ($) | Apr. 30, 2021 | Jan. 31, 2021 |
Debt Disclosure [Abstract] | ||
Advances payable | $ 3,450 | $ 3,450 |
Convertible Notes Payable (Deta
Convertible Notes Payable (Details) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Jan. 31, 2021 | |
Total convertible notes payable | $ 239,711 | $ 239,711 |
Less: convertible notes payable, in default | (239,711) | (239,711) |
Current convertible notes payable, net of discount | ||
10% Convertible Note Due October 31, 2018 [Member] | ||
Total convertible notes payable | $ 156,976 | 156,976 |
Debt instrument, issuance date | Oct. 31, 2015 | |
Debt instrument, interest rate | 10.00% | |
Bearing default interest | 25.00% | |
Debt instrument, maturity date | Oct. 31, 2018 | |
Debt instrument, conversion price (in dollars per share) | $ 0.50 | |
10% Convertible Note Due January 31, 2019 [Member] | ||
Total convertible notes payable | $ 82,735 | $ 82,735 |
Debt instrument, issuance date | Jan. 31, 2016 | |
Debt instrument, interest rate | 10.00% | |
Bearing default interest | 25.00% | |
Debt instrument, maturity date | Jan. 31, 2019 | |
Percentage of discount on debt conversion | 60.00% |
Convertible Notes Payable (De_2
Convertible Notes Payable (Details Narrative) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Amortization of discount | $ 42,539 | |
Debt amount converted | 45,500 | |
Number of common shares issued upon conversion of debt (in shares) | 26,184,589 | |
Convertible Notes Payable [Member] | ||
Amortization of discount | 42,539 | |
Interest expense | 42,539 | |
Debt amount converted | $ 45,500 | |
Number of common shares issued upon conversion of debt (in shares) | 314,534,051 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Amount converted | $ 45,500 | |
Number of shares issued | 26,184,589 | |
March 4, 2021 [Member] | ||
Amount converted | $ 49,646 | |
Number of shares issued | 15,190,303 | |
April 19, 2021 [Member] | ||
Amount converted | $ 38,480 | |
Number of shares issued | 10,994,286 | |
Series G Preferred Stock [Member] | ||
Number of shares issued | 85,200 | |
Series G Preferred Stock [Member] | March 4, 2021 [Member] | ||
Number of shares issued | 48,200 | |
Series G Preferred Stock [Member] | April 19, 2021 [Member] | ||
Number of shares issued | 37,000 |
Shareholders' Equity (Details 1
Shareholders' Equity (Details 1) - USD ($) | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Amount converted | $ 45,500 | |
Number of shares issued | 26,184,589 | |
Convertible Notes Payable [Member] | ||
Amount converted | $ 45,500 | |
Number of shares issued | 314,534,051 | |
Convertible Notes Payable [Member] | March 3, 2020 [Member] | ||
Amount converted | $ 9,500 | |
Number of shares issued | 30,645,161 | |
Convertible Notes Payable [Member] | March 20, 2020 [Member] | ||
Amount converted | $ 5,800 | |
Number of shares issued | 32,222,222 | |
Convertible Notes Payable [Member] | April 1, 2020 [Member] | ||
Amount converted | $ 3,800 | |
Number of shares issued | 31,666,667 | |
Convertible Notes Payable [Member] | April 3, 2020 [Member] | ||
Amount converted | $ 3,800 | |
Number of shares issued | 31,666,667 | |
Convertible Notes Payable [Member] | April 13, 2020 [Member] | ||
Amount converted | $ 3,800 | |
Number of shares issued | 31,666,667 | |
Convertible Notes Payable [Member] | April 16, 2020 [Member] | ||
Amount converted | $ 4,400 | |
Number of shares issued | 36,666,667 | |
Convertible Notes Payable [Member] | April 20, 2020 [Member] | ||
Amount converted | $ 4,800 | |
Number of shares issued | 40,000,000 | |
Convertible Notes Payable [Member] | April 24, 2020 [Member] | ||
Amount converted | $ 4,800 | |
Number of shares issued | 40,000,000 | |
Convertible Notes Payable [Member] | April 27, 2020 [Member] | ||
Amount converted | $ 4,800 | |
Number of shares issued | 40,000,000 |
Shareholders' Equity (Details N
Shareholders' Equity (Details Narrative) - Series G Preferred Stock [Member] | 3 Months Ended |
Apr. 30, 2021USD ($)$ / sharesshares | |
Number of convertible preferred stock issued | shares | 164,600 |
Cash proceeds | $ 140,000 |
Conversion price (in dollars per shares) | $ / shares | $ 1 |
Percentage of dividends | 8.00% |
Description of redemption | Premium of between 3% and 33% depending on the date of redemption. |
Percentage of discount on debt conversion | 29.00% |
Deemed dividend | $ 24,600 |
Accrued dividends | $ 4,260 |