Cover
Cover - shares | 9 Months Ended | |
Oct. 31, 2023 | Dec. 15, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Oct. 31, 2023 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --01-31 | |
Entity File Number | 0-55077 | |
Entity Registrant Name | NEUTRA CORP. | |
Entity Central Index Key | 0001512886 | |
Entity Tax Identification Number | 27-4505461 | |
Entity Incorporation, State or Country Code | WY | |
Entity Address, Address Line One | 54 Sugar Creek Center Blvd. | |
Entity Address, Address Line Two | Suite 200 | |
Entity Address, City or Town | Sugar Land | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77478 | |
City Area Code | 702 | |
Local Phone Number | 793-4121 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 2,917,899,124 |
CONSOLIDATED BALANCE SHEETS (UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) | Oct. 31, 2023 | Jan. 31, 2023 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 692 | $ 1,969 |
Accounts Receivable | 98 | |
Inventory | 18,610 | 23,846 |
Total current assets | 19,400 | 25,815 |
Property and equipment, net | 7,544 | 49,360 |
TOTAL ASSETS | 26,944 | 75,175 |
Current Liabilities | ||
Accounts payable and accrued expenses | 480,974 | 516,890 |
Accounts payable to related party | 407,768 | 233,087 |
Advances payable | 3,450 | 3,450 |
Advances payable to related party | 12,314 | 2,314 |
Dividends payable on Series G preferred stock | 2,062 | |
Accrued interest payable | 4,322 | 1,836 |
Total current liabilities | 908,828 | 759,639 |
Notes payable, related party | 54,156 | 54,156 |
TOTAL LIABILITIES | 962,984 | 813,795 |
Series G preferred stock; $1.00 stated value, 0 shares and 35,200 shares issued and outstanding at October 31, 2023 and January 31, 2023, respectively | 35,200 | |
STOCKHOLDERS' DEFICIT | ||
Common stock, $0.001 par value; unlimited shares authorized; 2,917,899,124 and 2,743,575,314 shares issued and outstanding at October 31, 2023 and January 31, 2023, respectively | 2,917,899 | 2,743,575 |
Additional paid-in capital | 7,751,840 | 7,889,555 |
Preferred stock subscribed but not issued | 50,000 | 50,000 |
Accumulated deficit | (11,657,879) | (11,459,050) |
TOTAL STOCKHOLDERS' DEFICIT | (936,040) | (773,820) |
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT | 26,944 | 75,175 |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, value | 50 | 50 |
TOTAL STOCKHOLDERS' DEFICIT | 50 | 50 |
Series B Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, value | 10 | 10 |
TOTAL STOCKHOLDERS' DEFICIT | 10 | 10 |
Series C Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred stock, value | 40 | 40 |
TOTAL STOCKHOLDERS' DEFICIT | 40 | 40 |
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 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | 9 Months Ended | 12 Months Ended |
Oct. 31, 2023 | Jan. 31, 2023 | |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized, unlimited | Unlimited | Unlimited |
Common stock, issued | 2,917,899,124 | 2,743,575,314 |
Common stock, outstanding | 2,917,899,124 | 2,743,575,314 |
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 | 0 | 35,200 |
Preferred stock, outstanding | 0 | 35,200 |
Series A Preferred Stock [Member] | ||
Preferred stock, issued | 50,000 | 50,000 |
Preferred stock, outstanding | 50,000 | 50,000 |
Series B Preferred Stock [Member] | ||
Preferred stock, issued | 10,000 | 0 |
Preferred stock, outstanding | 10,000 | 0 |
Series C Preferred Stock [Member] | ||
Preferred stock, issued | 40,000 | 40,000 |
Preferred stock, outstanding | 40,000 | 40,000 |
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 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | |
Income Statement [Abstract] | ||||
REVENUE | $ 1,311 | $ 23,383 | $ 11,478 | $ 62,077 |
Cost of goods sold | 722 | 12,708 | 6,403 | 29,725 |
Gross margin | 589 | 10,675 | 5,075 | 32,352 |
OPERATING EXPENSES | ||||
Depreciation | 9,051 | 19,726 | 41,816 | 59,179 |
Sales commissions | 779 | 10,584 | 6,879 | 26,101 |
General and administrative expenses | 43,487 | 46,439 | 152,085 | 186,958 |
Total operating expenses | 53,317 | 76,749 | 200,780 | 272,238 |
LOSS FROM OPERATIONS | (52,728) | (66,074) | (195,705) | (239,886) |
OTHER INCOME (EXPENSE) | ||||
Interest expense | (2,258) | (15,718) | (2,486) | (46,528) |
Total other income (expense) | (2,258) | (15,718) | (2,486) | (46,528) |
Net loss before income taxes | (54,986) | (81,792) | (198,191) | (286,414) |
Provision for income taxes | (638) | |||
Net loss | (54,986) | (81,792) | (198,829) | (286,414) |
Dividends on Series G convertible preferred stock | (573) | (4,105) | ||
Deemed dividend on Series G convertible preferred stock | (10,200) | |||
Net loss available to common shareholders | $ (54,986) | $ (82,365) | $ (198,829) | $ (300,719) |
Net loss per common share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average shares outstanding - basic and diluted | 2,917,899,124 | 2,300,718,171 | 2,914,202,623 | 2,187,836,449 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (UNAUDITED) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Stock Subscribed but Not Issued [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Series C Preferred Stock [Member] | Series E Preferred Stock [Member] | Series F Preferred Stock [Member] | Total |
Beginning balance, value at Jan. 31, 2022 | $ 1,782,074 | $ 7,824,982 | $ (10,882,188) | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | $ (1,273,032) | |
Beginning balance (in shares) at Jan. 31, 2022 | 1,782,073,799 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Common stock issued for preferred stock conversions | $ 425,622 | (199,110) | 226,512 | |||||||
Common stock issued for preferred stock conversions (in shares) | 425,622,150 | |||||||||
Preferred stock subscribed but not issued | 50,000 | 50,000 | ||||||||
Dividends on Series G preferred stock | (2,429) | (2,429) | ||||||||
Net loss | (107,196) | (107,196) | ||||||||
Ending balance, value at Apr. 30, 2022 | 2,207,696 | 7,625,872 | (10,991,813) | 50,000 | 50 | 10 | 40 | 1,000 | 1,000 | (1,106,145) |
Beginning balance, value at Jan. 31, 2022 | $ 1,782,074 | 7,824,982 | (10,882,188) | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | (1,273,032) | |
Beginning balance (in shares) at Jan. 31, 2022 | 1,782,073,799 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Net loss | (286,414) | |||||||||
Deemed dividend on Series G convertible preferred stock | (10,200) | |||||||||
Ending balance (in shares) at Oct. 31, 2022 | 2,300,718,171 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Ending balance, value at Oct. 31, 2022 | $ 2,300,718 | 7,566,337 | (11,182,907) | 50,000 | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | (1,263,752) |
Beginning balance, value at Apr. 30, 2022 | 2,207,696 | 7,625,872 | (10,991,813) | 50,000 | 50 | 10 | 40 | 1,000 | 1,000 | (1,106,145) |
Common stock issued for preferred stock conversions | 93,022 | (59,535) | 33,487 | |||||||
Dividends on Series G preferred stock | (1,103) | (1,103) | ||||||||
Net loss | (97,426) | (97,426) | ||||||||
Deemed dividend on Series G convertible preferred stock | (10,200) | (10,200) | ||||||||
Ending balance (in shares) at Jul. 31, 2022 | 2,207,695,949 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Ending balance, value at Jul. 31, 2022 | $ 2,300,718 | 7,566,337 | (11,100,542) | 50,000 | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | (1,181,387) |
Common stock issued for preferred stock conversions (in shares) | 93,022,222 | |||||||||
Net loss | (81,792) | (81,792) | ||||||||
Deemed dividend on Series G convertible preferred stock | ||||||||||
Dividends on Series G convertible preferred stock | (573) | (573) | ||||||||
Ending balance (in shares) at Oct. 31, 2022 | 2,300,718,171 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Ending balance, value at Oct. 31, 2022 | $ 2,300,718 | 7,566,337 | (11,182,907) | 50,000 | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | (1,263,752) |
Beginning balance, value at Jan. 31, 2023 | $ 2,743,575 | 7,889,555 | (11,459,050) | 50,000 | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | (773,820) |
Beginning balance (in shares) at Jan. 31, 2023 | 2,743,575,314 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Common stock issued for preferred stock conversions | $ 174,324 | (137,715) | 36,609 | |||||||
Common stock issued for preferred stock conversions (in shares) | 174,323,810 | |||||||||
Net loss | (71,996) | (71,996) | ||||||||
Ending balance, value at Apr. 30, 2023 | 2,917,899 | 7,751,840 | (11,531,046) | 50,000 | 50 | 10 | 40 | 1,000 | 1,000 | (809,207) |
Beginning balance, value at Jan. 31, 2023 | $ 2,743,575 | 7,889,555 | (11,459,050) | 50,000 | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | (773,820) |
Beginning balance (in shares) at Jan. 31, 2023 | 2,743,575,314 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Net loss | (198,829) | |||||||||
Deemed dividend on Series G convertible preferred stock | ||||||||||
Ending balance (in shares) at Oct. 31, 2023 | 2,917,899,124 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Ending balance, value at Oct. 31, 2023 | $ 2,917,899 | 7,751,840 | (11,657,879) | 50,000 | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | (936,040) |
Beginning balance, value at Apr. 30, 2023 | 2,917,899 | 7,751,840 | (11,531,046) | 50,000 | 50 | 10 | 40 | 1,000 | 1,000 | (809,207) |
Net loss | (71,847) | (71,847) | ||||||||
Ending balance (in shares) at Jul. 31, 2023 | 2,917,899,124 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Ending balance, value at Jul. 31, 2023 | $ 2,917,899 | 7,751,840 | (11,602,893) | 50,000 | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | (881,054) |
Net loss | (54,986) | (54,986) | ||||||||
Deemed dividend on Series G convertible preferred stock | ||||||||||
Ending balance (in shares) at Oct. 31, 2023 | 2,917,899,124 | 50,000 | 10,000 | 40,000 | 1,000,000 | 1,000,000 | ||||
Ending balance, value at Oct. 31, 2023 | $ 2,917,899 | $ 7,751,840 | $ (11,657,879) | $ 50,000 | $ 50 | $ 10 | $ 40 | $ 1,000 | $ 1,000 | $ (936,040) |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN MEZZANINE EQUITY (UNAUDITED) - 9 months ended Oct. 31, 2023 | Series G Preferred Stock [Member] USD ($) shares |
Beginning balance, value at Jan. 31, 2023 | $ | $ 35,200 |
Beginning balance (in shares) at Jan. 31, 2023 | shares | 35,200 |
Series G preferred stock converted to common stock | $ | $ (35,200) |
Series G Preferred Stock Converted to Common Stock | shares | (35,200) |
Ending balance, value at Oct. 31, 2023 | $ | |
Ending balance (in shares) at Oct. 31, 2023 | shares |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 9 Months Ended | |
Oct. 31, 2023 | Oct. 31, 2022 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||
Net loss | $ (198,829) | $ (286,414) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 41,816 | 59,179 |
Changes in operating assets and liabilities | ||
Accounts Receivable | (98) | |
Inventory | 5,236 | (26,810) |
Accounts payable and accrued liabilities | 21,637 | (23,271) |
Accounts payable to related party | 116,475 | 76,332 |
Accrued interest payable | 2,486 | 46,228 |
NET CASH USED IN OPERATING ACTIVITIES | (11,277) | (154,756) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Stock subscriptions received | 50,000 | |
Proceeds from sale of Series G convertible preferred stock | 50,000 | |
Proceeds from advance from related party | 10,000 | |
Proceeds from issuance of note payable | 60,000 | |
Repayments on notes payable | (5,844) | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 10,000 | 154,156 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (1,277) | (600) |
Cash and cash equivalents at beginning of period | 1,969 | 1,056 |
Cash and cash equivalents at end of period | 692 | 456 |
Cash paid during the period for: | ||
Interest | ||
Taxes | ||
Noncash investing and financing transactions: | ||
Conversion of Series G preferred stock | 36,609 | 250,000 |
Dividends on mezzanine equity | 4,105 | |
Deemed dividend on mezzanine equity | 10,200 | |
Expenses paid on the Company’s behalf | $ 58,206 |
Background Information
Background Information | 9 Months Ended |
Oct. 31, 2023 | |
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. |
Going Concern
Going Concern | 9 Months Ended |
Oct. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 2. Going Concern For the nine months ended October 31, 2023, the Company had a net loss of $ 198,829 889,428 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 | 9 Months Ended |
Oct. 31, 2023 | |
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 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 consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended January 31, 2023, 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 nine month period ended October 31, 2023, are not necessarily indicative of the results to be expected for the full fiscal year ending January 31, 2024. Basis of Presentation The consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The consolidated financial statements have been prepared using the accrual basis of accounting in accordance with GAAP. Consolidated Financial Statements The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, Diamond Anvil Designs, LLC Deity Corporation 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. Inventory Inventory is comprised of packaging and supplies and at times raw materials. Inventory is valued at cost, based on the average cost method, unless and until the net realizable value for the inventory is lower than cost, in which case an allowance is established to reduce the valuation to the net realizable value. As of October 31, 2023, and January 31, 2023, market values of all of our inventory were greater than cost, and accordingly, no 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 41,816 59,179 Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue From Contracts With Customers. Revenues are recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods or services. Revenue is recognized based on the following five step model: • Identification of the contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation Product sales are recognized all of the following criteria are satisfied: (i) a contract with an end user exists which has commercial substance; (ii) it is probable the Company will collect the amount charged to the end user; and (iii) the Company has completed its performance obligation whereby the end user has obtained control of the product. A contract with commercial substance exists once the Company receives and accepts a purchase order or once it enters into a contract with an end user. If collectability is not probable, the sale is deferred and not recognized until collection is probable or payment is received. Control of products typically transfers when title and risk of ownership of the product has transferred to the customer. Payment is received before shipment of the product. Net revenues comprise gross revenues less customer discounts and allowances, actual and expected returns. Shipping charges billed to customers are included in net sales. Various taxes on the sale of products to customers are collected by the Company as an agent and remitted to the respective taxing authority. These taxes are presented on a net basis and recorded as a liability until remitted to the respective taxing authority. The Company allows for customers to return unopened products within 10 days in certain limited circumstances. There have been no refunds processed for returned product. Contract Costs Costs incurred to obtain a customer contract are not material to the Company. The Company elected to apply the practical expedient to not capitalize contract costs to obtain contracts with a duration of one year or less, which are expensed and included within cost of goods and services. Cost of Sales Cost of sales includes all of the costs to purchase and assemble the Company’s products. Products are manufactured for the Company by third-party contractors, such costs represent the amounts invoiced by the contractors. Additionally, shipping costs are included in Cost of Sales in the Statements of Operations. 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 As discussed in more detail in Note 5, the Company agreed to pay 60 250,000 20 There were no other known commitments or contingencies as of October 31, 2023, and January 31, 2023. 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. Subsequent events The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR. Recently Adopted Accounting Pronouncements The Company 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. |
Property and equipment, net
Property and equipment, net | 9 Months Ended |
Oct. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property and equipment, net | Note 4. Property and equipment, net Property and equipment consist of the following: October 31, 2023 January 31, 2023 Equipment $ 236,717 $ 236,717 Total property and equipment 236,717 236,717 Less: accumulated depreciation (229,173 ) (187,357 ) Property and equipment, net $ 7,544 $ 49,360 |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Oct. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 5. Related Party Transactions During the nine months ended October 31, 2023, and 2022, we incurred salary expense of $ 75,000 6,879 26,101 41,475 34,596 41,253 As of October 31, 2023, and January 31, 2023, we owed Mr. Jim, or entities controlled by him, $ 407,768 233,087 12,314 2,314 During the nine months ended October 31, 2023, an investor advanced $ 10,000 On March 11, 2022, the Company entered into a loan agreement for $ 60,000 6 4,240 54,156 4,322 During the year ended January 31, 2022, the Company acquired the assets of Deity Corporation, a Texas corporation which the Sydney Jim, the Company’s CEO, had a controlling interest in that will produce hemp and cannabis products. The transaction was considered an asset acquisition, as there were no operations of Deity Corporation prior to the transaction. The Company received the formulas for certain hemp and cannabis-based products and a website to market the products that will be produced. In exchange, the Company will pay Mr. Jim 60 250,000 20 |
Advances and Notes Payable
Advances and Notes Payable | 9 Months Ended |
Oct. 31, 2023 | |
Debt Disclosure [Abstract] | |
Advances and Notes Payable | Note 6. Advances and Notes Payable As of October 31, 2023, and January 31, 2023, we had amounts due under advances of $ 3,450 On March 11, 2022, the Company entered into a loan agreement for $ 60,000 6 4,240 54,156 4,322 |
Shareholders_ Equity
Shareholders’ Equity | 9 Months Ended |
Oct. 31, 2023 | |
Equity [Abstract] | |
Shareholders’ Equity | Note 7. Shareholders’ Equity Series A Preferred Stock. 50,000 5 10 800 50,000 Series B Preferred Stock. 10,000 5 0.4 800 10,000 50,000 10,000 Series C Preferred Stock. 40,000 5 10 500,000 1 38 40,000 200,000 40,000 Series E preferred stock issued for services On November 13, 2015, our board of directors designated 1,000,000 The Series E Preferred stock has 2 votes for each outstanding share of common stock in the company. 1,000,000 Series F preferred stock issued for services The Series F Preferred Stock is subordinated to our common stock and superior to all shares of Preferred Stock. It does not receive dividends and does not participate in equity distributions. The Series F Preferred stock retains 2/3 of the voting rights in the company. 1,000,000 1,000,000 1,000,000 Series G convertible preferred stock During the nine months ended October 31, 2023, the Company the holder of the Series G convertible preferred stock converted 35,200 1,408 174,323,810 3,532 250,000 10,000 518,644,372 Preferred Stock Subscription On February 23, 2022, the Company sold 10,000 50,000 |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2023 | |
Accounting Policies [Abstract] | |
Interim Financial Statements | 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 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 consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended January 31, 2023, 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 nine month period ended October 31, 2023, are not necessarily indicative of the results to be expected for the full fiscal year ending January 31, 2024. |
Basis of Presentation | Basis of Presentation The consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the SEC. The consolidated financial statements have been prepared using the accrual basis of accounting in accordance with GAAP. |
Consolidated Financial Statements | Consolidated Financial Statements The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, Diamond Anvil Designs, LLC Deity Corporation 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. |
Inventory | Inventory Inventory is comprised of packaging and supplies and at times raw materials. Inventory is valued at cost, based on the average cost method, unless and until the net realizable value for the inventory is lower than cost, in which case an allowance is established to reduce the valuation to the net realizable value. As of October 31, 2023, and January 31, 2023, market values of all of our inventory were greater than cost, and accordingly, no |
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 41,816 59,179 |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue From Contracts With Customers. Revenues are recognized when control of the promised goods or services is transferred to the customer in an amount that reflects the consideration the Company expects to be entitled to in exchange for transferring those goods or services. Revenue is recognized based on the following five step model: • Identification of the contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation Product sales are recognized all of the following criteria are satisfied: (i) a contract with an end user exists which has commercial substance; (ii) it is probable the Company will collect the amount charged to the end user; and (iii) the Company has completed its performance obligation whereby the end user has obtained control of the product. A contract with commercial substance exists once the Company receives and accepts a purchase order or once it enters into a contract with an end user. If collectability is not probable, the sale is deferred and not recognized until collection is probable or payment is received. Control of products typically transfers when title and risk of ownership of the product has transferred to the customer. Payment is received before shipment of the product. Net revenues comprise gross revenues less customer discounts and allowances, actual and expected returns. Shipping charges billed to customers are included in net sales. Various taxes on the sale of products to customers are collected by the Company as an agent and remitted to the respective taxing authority. These taxes are presented on a net basis and recorded as a liability until remitted to the respective taxing authority. The Company allows for customers to return unopened products within 10 days in certain limited circumstances. There have been no refunds processed for returned product. Contract Costs Costs incurred to obtain a customer contract are not material to the Company. The Company elected to apply the practical expedient to not capitalize contract costs to obtain contracts with a duration of one year or less, which are expensed and included within cost of goods and services. Cost of Sales Cost of sales includes all of the costs to purchase and assemble the Company’s products. Products are manufactured for the Company by third-party contractors, such costs represent the amounts invoiced by the contractors. Additionally, shipping costs are included in Cost of Sales in the Statements of Operations. |
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 As discussed in more detail in Note 5, the Company agreed to pay 60 250,000 20 There were no other known commitments or contingencies as of October 31, 2023, and January 31, 2023. |
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. |
Subsequent events | Subsequent events The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements were issued. Pursuant to ASU 2010-09 of the FASB Accounting Standards Codification, the Company as an SEC filer considers its financial statements issued when they are widely distributed to users, such as through filing them on EDGAR. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements The Company 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. |
Property and equipment, net (Ta
Property and equipment, net (Tables) | 9 Months Ended |
Oct. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property and equipment consist of the following: | Property and equipment consist of the following: October 31, 2023 January 31, 2023 Equipment $ 236,717 $ 236,717 Total property and equipment 236,717 236,717 Less: accumulated depreciation (229,173 ) (187,357 ) Property and equipment, net $ 7,544 $ 49,360 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Oct. 31, 2023 | Jul. 31, 2023 | Apr. 30, 2023 | Oct. 31, 2022 | Jul. 31, 2022 | Apr. 30, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
Net loss | $ 54,986 | $ 71,847 | $ 71,996 | $ 81,792 | $ 97,426 | $ 107,196 | $ 198,829 | $ 286,414 |
Working capital | $ 889,428 | $ 889,428 |
Significant Accounting Polici_3
Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | Jan. 31, 2023 | |
Property, Plant and Equipment [Line Items] | |||||
Valuation allowance recognized | $ 0 | $ 0 | $ 0 | ||
Depreciation | 9,051 | $ 19,726 | 41,816 | $ 59,179 | |
Preferred stock subscribed but not issued | $ 50,000 | $ 50,000 | $ 50,000 | ||
Mr Jim [Member] | Chief Executive Officer [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Revenue, remaining performance obligation, percentage | 60% | 60% | |||
Preferred stock subscribed but not issued | $ 250,000 | $ 250,000 | |||
Deity Corporation [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Revenue, remaining performance obligation, percentage | 20% | 20% | |||
Equipment [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Useful life | 3 years | 3 years |
Property and equipment consist
Property and equipment consist of the following: (Details) - USD ($) | Oct. 31, 2023 | Jan. 31, 2023 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 236,717 | $ 236,717 |
Less: accumulated depreciation | (229,173) | (187,357) |
Property and equipment, net | 7,544 | 49,360 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 236,717 | $ 236,717 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | |||
Oct. 31, 2023 | Oct. 31, 2022 | Jan. 31, 2023 | Mar. 11, 2022 | Jan. 31, 2022 | |
Related Party Transaction [Line Items] | |||||
Expenses paid | $ 58,206 | ||||
Advances payable to related party | 12,314 | $ 2,314 | |||
Investor advance | 10,000 | ||||
Loan agreement | $ 60,000 | ||||
Unsecured loan interest | 6% | ||||
Monthly interest payment | $ 4,240 | ||||
Principal balance | 54,156 | ||||
Accrued interest | 4,322 | ||||
Chief Executive Officer [Member] | |||||
Related Party Transaction [Line Items] | |||||
Salary expense | 75,000 | 75,000 | |||
Commission expense | 6,879 | $ 26,101 | |||
Accrued commission | 41,475 | 34,596 | |||
Chief Executive Officer [Member] | Accounts Payable Related Party and Advances Payable to Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Accounts payable - related party | 407,768 | 233,087 | |||
Advances payable to related party | 12,314 | $ 2,314 | |||
Chief Executive Officer [Member] | Mr Jim [Member] | |||||
Related Party Transaction [Line Items] | |||||
Expenses paid | $ 41,253 | ||||
Revenue obligation from Deity Corporation before sales threshold, percentage | 60% | ||||
Revenue obligation from Deity Corporation sales threshold | $ 250,000 | ||||
Revenue obligation from Deity Corporation after sales threshold, percentage | 20% |
Advances and Notes Payable (Det
Advances and Notes Payable (Details Narrative) - USD ($) | 9 Months Ended | ||
Oct. 31, 2023 | Jan. 31, 2023 | Mar. 11, 2022 | |
Debt Disclosure [Abstract] | |||
Advances payable | $ 3,450 | $ 3,450 | |
Loan agreement | $ 60,000 | ||
Unsecured loan intrest | 6% | ||
Monthly intrest payment | $ 4,240 | ||
Loan agreement | 54,156 | ||
Accrued interest | $ 4,322 |
Shareholders_ Equity (Details N
Shareholders’ Equity (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Feb. 23, 2022 | Nov. 13, 2015 | Nov. 30, 2020 | Jul. 31, 2020 | Jan. 31, 2020 | Oct. 31, 2023 | Jan. 31, 2021 | Jan. 31, 2023 | Oct. 31, 2022 | |
Class of Stock [Line Items] | |||||||||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |||||||
Number of shares sold | 10,000 | ||||||||
Cash proceeds | $ 50,000 | ||||||||
Series A Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, issued | 50,000 | 50,000 | 50,000 | ||||||
Preferred stock, par value (in dollars per share) | $ 5 | ||||||||
Prefered stock converted into common stock | 800 | ||||||||
Preferred stock, outstanding | 50,000 | 50,000 | |||||||
Series A Preferred Stock [Member] | VIVIS Corporation [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, dividend rate, percentage | 10% | ||||||||
Series B Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, issued | 10,000 | 10,000 | 0 | ||||||
Preferred stock, par value (in dollars per share) | $ 5 | ||||||||
Prefered stock converted into common stock | 800 | ||||||||
Preferred stock, outstanding | 10,000 | 0 | |||||||
Number of shares sold | 10,000 | ||||||||
Cash proceeds | $ 50,000 | ||||||||
Shares outstanding | 10,000 | 10,000 | |||||||
Series B Preferred Stock [Member] | VIVIS Corporation [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, dividend rate, percentage | 0.40% | ||||||||
Series C Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, issued | 40,000 | 40,000 | 40,000 | ||||||
Preferred stock, par value (in dollars per share) | $ 5 | ||||||||
Preferred stock, dividend rate, percentage | 1% | ||||||||
Prefered stock converted into common stock | 38 | ||||||||
Preferred stock, outstanding | 40,000 | 40,000 | |||||||
Number of shares sold | 40,000 | ||||||||
Cash proceeds | $ 200,000 | ||||||||
Shares outstanding | 40,000 | 40,000 | |||||||
Series C Preferred Stock [Member] | VIVIS Corporation [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, dividend rate, percentage | 10% | ||||||||
Convertible Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Cumulative dividends received | $ 500,000 | ||||||||
Series E Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, issued | 1,000,000 | 1,000,000 | 1,000,000 | ||||||
Preferred stock, outstanding | 1,000,000 | 1,000,000 | |||||||
Description of voting rights | The Series E Preferred stock has 2 votes for each outstanding share of common stock in the company. | ||||||||
Series F Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, issued | 1,000,000 | 1,000,000 | |||||||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |||||||
Preferred stock, outstanding | 1,000,000 | 1,000,000 | 1,000,000 | ||||||
Description of voting rights | The Series F Preferred stock retains 2/3 of the voting rights in the company. | ||||||||
Series F Preferred Stock [Member] | Chief Executive Officer [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, issued | 1,000,000 | ||||||||
Series G Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, issued | 0 | 35,200 | |||||||
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 | |||||||
Prefered stock converted into common stock | 174,323,810 | 518,644,372 | |||||||
Preferred stock, outstanding | 0 | 35,200 | |||||||
Prefered stock converted into common stock | 35,200 | 250,000 | |||||||
Accrured dividends | $ 1,408 | $ 10,000 | |||||||
Dividends payable | $ 3,532 |