Hammer Technology (HMMR) 10-Q/A 18 Mar 22 2022 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jan. 31, 2022shares
Cover [Abstract]
Entity Registrant Name	HAMMER FIBER OPTICS HOLDINGS CORP.
Registrant CIK	0001539680
Fiscal Year End	--07-31
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2022
Entity File Number	000-1539680
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	98-1032170
Entity Address, Address Line One	6151 Lake Osprey Drive
Entity Address, City or Town	Sarasota
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34240
City Area Code	941
Local Phone Number	306-3019
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Address, Country	US
Entity Common Stock, Shares Outstanding	60,853,341
Amendment Flag	true
Amendment Description	This Form 10-Q/A amends the Company’s Quarterly Report on Form 10-Q for the quarterly period ended January 31, 2022, as filed with the Securities and Exchange Commission (“SEC”) on March 17, 2022 (the “Original Filing”). This Form 10-Q/A is being amended to include a Statement of Stockholders’ Equity (Deficit) which was not included with the Original filing. There are no other changes to this document.
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity Address, Address Line Two	Suite 300

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jan. 31, 2022	Jul. 31, 2021
Current Assets
Cash and cash equivalents	$ 66,128	$ 77,706
Accounts receivable	329,246	285,006
Security Deposits	111,082	11,802
Prepaid expenses	19,819	14,808
Total current assets	526,275	388,502
Property and equipment, net	140,562	155,939
Intangible and other assets	7,242,066	3,113,508
Assets from Discontinued Operations	1,243,960	1,243,960
Total assets	9,152,873	4,901,909
Current Liabilities
Accounts payable and accrued expenses	1,070,577	908,136
Loans payable	632,629	580,597
Deferred Revenue	280,665	299,200
Total current liabilities	1,983,871	1,787,933
Liabilities from Discontinued Operations	633,193	632,318
Total Liabilities	2,617,064	2,420,318
Stockholders' Equity (Deficit)
Common stock, $0.001 par value, 250,000,000 shares authorized 60,503,341 shares issued; 45,944,954 and 45,994,954 shares outstanding at October 31, and July 31, 2020, respectively	60,853	60,853
Additional paid-in capital	27,109,934	22,859,434
Accumulated deficit	(20,634,978)	(20,438,696)
Total Stockholder's Equity (Deficit)	6,535,809	2,481,591
Total Liabilities and Stockholders' Equity (Deficit)	$ 9,152,873	$ 4,901,909

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jan. 31, 2022	Jul. 31, 2021
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares, Issued	60,853,341	60,853,341
Common Stock, Shares, Outstanding	59,010,256	52,528,328

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2022	Jan. 31, 2021
Statement of Comprehensive Income [Abstract]
Revenues	$ 591,901	$ 508,848	$ 1,220,236	$ 993,690
Costs and Expenses [Abstract]
Cost of sales	475,618	338,001	917,551	677,177
Selling, general and administrative expenses	239,547	182,328	421,669	343,567
Depreciation expense	17,940	12,627	35,101	24,882
Total operating expenses	733,105	532,956	1,374,321	1,045,626
Operating Loss	(141,204)	(24,108)	(154,085)	(51,936)
Other expenses
Interest expense	21,817	6,204	33,051	14,857
Other expenses	(28,061)	14	(854)	68,192
Total other expenses	(6,244)	6,218	32,197	83,049
Loss Before Discontinued Operations	(134,960)	(30,326)	(186,282)	(134,985)
Income (Loss) From Discontinued Operations	7,207	4,286,673	(10,000)	4,274,011
Net income (loss)	$ (127,753)	$ 4,256,347	$ (196,282)	$ 4,139,026
Weighted average number of common shares outstanding - basic and diluted	60,853,341	60,853,341	60,853,341	60,853,341
Gain per share- basic and diluted
Continuing operations	$ 0	$ 0	$ 0	$ 0
Discontinued operations	0	0.07	0	0.07
Total	$ 0	$ 0.07	$ 0	$ 0.07

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Jul. 31, 2020	$ 60,503		$ 17,512,284	$ (22,912,310)	$ (5,339,523)
Balance (shares) at Jul. 31, 2020	60,503,341	7,975,033
Net Income (loss) for the quarter				(117,321)	(117,321)
Balance at Oct. 31, 2020	$ 60,503		17,512,284	(23,029,631)	(5,456,844)
Balance (shares) at Oct. 31, 2020	60,503,341	7,975,033
Net Income (loss) for the quarter				4,256,347	4,256,347
Balance at Jan. 31, 2021	$ 60,503		17,512,284	(18,773,284)	(1,200,497)
Balance (shares) at Jan. 31, 2021	60,503,341	7,975,033
Balance at Jul. 31, 2021	$ 60,853		22,859,434	(20,438,696)	2,481,591
Balance (shares) at Jul. 31, 2021	60,853,341	3,843,085
Net Income (loss) for the quarter				(68,529)	(68,529)
Balance at Oct. 31, 2021	$ 60,853		22,859,434	(20,507,225)	2,413,062
Balance (shares) at Oct. 31, 2021	60,853,341	3,843,085
Shares returned to treasury (shares)		3,000,000
Treasury shares issued for acquisition			4,250,500		4,250,500
Treasury shares issued for acquisition (shares)		(5,000,000)
Net Income (loss) for the quarter				(127,753)	(127,753)
Balance at Jan. 31, 2022	$ 60,853		$ 27,109,934	$ (20,634,978)	$ 6,535,809
Balance (shares) at Jan. 31, 2022	60,853,341	1,843,085

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
OPERATING ACTIVITIES
Net income (loss)	$ (196,282)	$ 4,139,026
(Income) Loss from discontinued operations	10,000	(4,274,011)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation expense	35,101	24,882
Changes in operating assets and liabilities:
Accounts receivable	(73,711)	(130,204)
Security deposits	0	0
Prepaid expenses	(7,383)	11,422
Accounts payable	231,212	105,004
Deferred revenue	(12,684)	17,341
Net cash provided by (used in) operating activities- continuing operations	(13,747)	(106,540)
Net cash provided by (used in) operating activities- discontinued operations	(10,000)	(60,995)
Net cash provided by (used in) operating activities	(23,747)	(167,535)
INVESTING ACTIVITIES
Purchase of property and equipment	(23,745)	(3,424)
Purchase of subsidiary equity	0	0
Net cash provided by (used in) investing activities- continuing operations	(23,745)	(3,424)
Net cash provided by (used in) investing activities- discontinued operations	0	0
Net cash provided by (used in) investing activities	(23,745)	(3,424)
FINANCING ACTIVITIES
Repayment of loans	(51,533)	(28,929)
Proceeds from loans	87,547	186,440
Net cash provided by (used in) financing activities- continuing operations	36,014	157,511
Net cash provided by (used in) financing activities- discontinued operations	0	0
Net cash provided by (used in) financing activities	36,014	157,511
Net increase (decrease) in cash	(11,478)	(13,448)
Cash, beginning of period	77,606	73,931
Cash, end of period	66,128	60,483
SUPPLEMENTAL DISCLOSURES OF CASH FLOW ACTIVITIES:
Cash paid for interest	21,817	17,306
Cash paid for taxes	$ 73	$ 214

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Jan. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Hammer Fiber Optics Holdings Corp (OTCQB:HMMR) is a company focused on sustainable shareholder value investing in both financial services technology and wireless telecommunications infrastructure. Hammer's financial technologies business is focused on providing digital stored value technology via its HammerPay mobile payments platform to enable digital commerce between consumers and branded merchants across the developing world, ensuring Swift, Safe and Secure encrypted remittances and banking transactions. Hammer's "Everything Wireless" go to market strategy for its telecommunications business includes the development of high speed fixed wireless service for residential, small business and enterprise clients using its wireless fiber platform, Hammer Wireless AIR®, mobility networks including 4G/LTE, Over-the-Top services such as voice, SMS and collaboration services and hosting services.

CORPORATE HISTORY AND BACKGROUN

CORPORATE HISTORY AND BACKGROUND ON MERGER	6 Months Ended
	Jan. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CORPORATE HISTORY AND BACKGROUND ON MERGER	NOTE 2 - CORPORATE HISTORY AND BACKGROUND ON MERGER The Company was originally incorporated in the State of Nevada on September 23, 2010, under the name Recursos Montana S.A. The Company's principal activity was an exploration stage company engaged in the acquisition of mineral properties then owned by the Company. On February 2, 2015, the Company entered into a Share Exchange Agreement with Tanaris Power Holdings, Inc., whereby the Company acquired 100% of Tanaris Power Holdings, Inc. issued and outstanding common stock in exchange for shares of the Company's common stock equal to 51% of the issued and outstanding common stock of the Company. Tanaris Power Holdings, Inc. was the owner of certain rights in connection with the marketing and sale of smart lithium-ion batteries and battery technologies for various industrial vehicles markets and related applications. On March 6, 2015, the Company amended its Articles of Incorporation to change its name to Tanaris Power Holdings, Inc. On April 25, 2016, Tanaris Power Holdings, Inc., a Nevada corporation entered into s Share Exchange Agreement (the "Share Exchange Agreement") with Hammer Fiber Optics Investments, Ltd., a Delaware corporation ("HFOI"), and the controlling stockholders of HFOI (the "HFOI Shareholders"). Pursuant to the Share Exchange Agreement, the Company acquired 20,000,000 shares of common stock of HFOI from the HFOI shareholders (the "HFOI Shares") and in exchange, the Company issued to the HFOI Shareholders 50,000,000 (post-Merger) restricted shares of its common stock (the "HMMR Shares"). As a result of the Share Exchange Agreement, HFOI shall become a wholly owned subsidiary of the Company. On April 13, 2016, the Board of Directors (BOD) approved a Plan of Merger (the "Plan of Merger") under Nevada Revised Statuses (NRS) Section 92A.180 to merge (the "Merger") with our wholly-owned subsidiary HFO Holdings, a Nevada corporation, to effect a name change from Tanaris Power Holdings Inc. to Hammer Fiber Optics Holdings Corp. The Plan of Merger also provides for a 1 for 1,000 exchange ratio for shareholders of both the Company and the HRO Holdings, which had the effect of a 1 for 1,000 reverse split of the common stock. Articles of Merger were filed with the Secretary of State of Nevada on April 13, 2016 and, on April 14, 2016, this corporate action was submitted to Financial Industry Regulatory Authority (the "FINRA") for its review and approval. On May 3, 2016, the FINRA approved the merger with the wholly-owned subsidiary, HMMR Fiber Optics Holdings Corp. ("HFO Holdings"). Accordingly, thereafter, the Company's name was changed and the shares of common stock began trading under new ticker symbol "HMMR" as of May 27, 2016. The merger was effected on July 19, 2016. In 2016 Hammer Fiber Optics Investments Ltd deployed its first beta network in Atlantic County, New Jersey. The network used a spectrum license agreement from Straightpath Communications, LLC. On January 17, 2018 Verizon Communications, LLC purchased Straightpath Communications, LLC and on July14 2018, Verizon terminated the spectrum license agreement effective October 31, 2018 despite communications that it would continue to honor the agreement. On October 31, 2018 the Company ceased operations of the network in Atlantic County and subsequently classified the subsidiary as a discontinued operation. On November 1, 2018, the Company acquired Open Data Centers, LLC, 1stPoint Communications, LLC and its subsidiaries. 1stPoint and its subsidiaries possess CLEC licenses in Florida, New York State, and a nationwide CMRS (Commercial Mobile Radio Services) license. The companies operate data center facilities in Piscataway, New Jersey and Homewood, Alabama. On December 17, 2018, the Company closed the acquisition of Endstream Communications, LLC, a wholesale voice operator in the United States. On January 29, 2019 our board of directors approved a stock purchase agreement with American Network, Inc to acquire all of its equity. The acquisition of American Network, Inc closed on September 1, 2019. As of April 30, 2020 our board of directors approved the discontinuation of the operations of Open Data Centers LLC. The operations of Open Data Centers, LLC were discontinued effective April 30, 2020 and the Company shut down its operations in its Piscataway, NJ data center. On October 25, 2021 our board of directors approved a share exchange agreement with Telecom Financial Services Limited ("TFS") for the acquisition one hundred percent (100%) of its stock. TFS owns the intellectual property critical to the operations of the company's financial technology business unit as well as certain key supplier, marketing and operating agreements. The acquisition of TFS closed on January 3, 2022. TFS has been renamed HammerPay [USA] Ltd.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jan. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The interim financial statements for the three months ending October 31, 2021 are unaudited. These financial statements are prepared in accordance with requirements for unaudited interim periods and consequently do not include all disclosures required to be in conformity with accounting principles generally accepted in the United States of America. The results of operations for the interim periods are not necessarily indicative of the results for the full year. In management's opinion, all adjustments necessary for a fair presentation of the Company's financial statements are reflected in the interim periods included and are of a normal recurring nature. These interim financial statements should be read in conjunction with the financial statements included in our Form 10-K, for the year ended July 31, 2021, as filed with the Securities and Exchange Commission ("the SEC") at www.sec.gov 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. COVID-19 Pandemic Update In March 2020, the World Health Organization declared a global health pandemic related to the outbreak of a novel coronavirus. The COVID-19 pandemic adversely affected the company's financial performance in the third and fourth quarters of fiscal year 2020 and could have an impact throughout fiscal year 2021. In response to the COVID-19 pandemic, government health officials have recommended and mandated precautions to mitigate the spread of the virus, including shelter-in-place orders, prohibitions on public gatherings and other similar measures. As a result, the company and certain of the company's customers and suppliers temporarily closed locations beginning late in the second quarter of fiscal year 2020, continuing into the third quarter of fiscal year 2020. Partly due to the COVID-19 pandemic, the Company shut down the operations of its' Open Data Centers, LLC operations effective April 30, 2020. There is uncertainty around the duration and breadth of the COVID-19 pandemic, as well as the impact it will have on the company's operations, supply chain and demand for its products. As a result, the ultimate impact on the company's business, financial condition or operating results cannot be reasonably estimated at this time. On May 5, 2020 and on February 26, 2021 the Company's 1stPoint Communications LLC subsidiary entered into two $88,097 notes payable to Bank of America, pursuant to the Paycheck Protection Program ("PPP Loan") under the CARES Act. 1stPoint has met the requirements for Loan Forgiveness, and as of October 19, 2021, these notes have been forgiven by the Small Business Administration in accordance with rules of the CARES Act. The amounts of have been reflected as other income in the company's financial statements. Cash and cash equivalents Cash and cash equivalents include cash in banks, money market funds and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. Property and equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the useful lives of the assets. For furniture and fixtures, the useful life is five years, Leasehold Improvements are depreciated over their respective lease terms. Expenditures for additions and improvements are capitalized. Repairs and maintenance are expensed as incurred. Impairment of long-lived assets The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to future undiscounted cash flows to be generated by the asset. If such assets are considered impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company has not recognized any related impairment losses. Indefinite lived intangible assets The Company reviews property, plant and equipment, inventory component prepayments and certain identifiable intangibles, excluding goodwill, for impairment. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If property, plant and equipment, inventory component prepayments and certain identifiable intangibles are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair value. The Company has not recorded any related impairment losses. The Company does not amortize goodwill and intangible assets with indefinite useful lives, rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. The Company has not recorded any related impairment losses. Revenue recognition We adopted ASC 606 on August 1, 2018. Revenue is measured based on a consideration specified in a contract or agreement with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Incidental items that are immaterial in the context of the contract are recognized as expense. Unearned revenues are recorded when cash payments are received or due in advance of the performance of the services. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Income taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, "Accounting for Income Taxes". The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. As of July 31, 2020, the Company did not have any amounts recorded pertaining to uncertain tax positions. Fair value measurements The Company adopted the provisions of ASC Topic 820, "Fair Value Measurements and Disclosures", which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The Company has no assets or liabilities valued at fair value on a recurring basis. Level 3 - Unobservable inputs reflecting management's assumptions about the inputs used in pricing the asset or liability. Consolidation of financial statements Hammer Fiber Optics Holdings Corp. is the parent company and sole shareholder of Hammer Wireless Corporation and its subsidiaries, 1stPoint Communications, LLC and its subsidiaries (which includes Shelcomm, Inc), Endstream Communications, LLC and American Network Inc., Hammer Wireless [SL], Ltd, and HammerPay [USA], Ltd. The financial statements for Hammer Fiber Optics Holdings Corp. and its wholly-owned subsidiaries are reported on a consolidated basis. All significant intercompany accounts and transactions have been eliminated. Its subsidiaries Open Data Centers, LLC and Hammer Fiber Optics Investments, Ltd. are discontinued and are considered discontinued operations. Open Data Centers, LLC was dissolved on December 30, 2020 Basic and Diluted Earnings (Loss) Per Share The basic earnings (loss) per share are calculated by dividing the Company's net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company's net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. As of January 31, 2022, and January 31, 2021, there were no common stock equivalents outstanding. Recent accounting pronouncements In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation (Topic 718) ("ASU 2018-07"). ASU 2018-07 provides for improvements to nonemployee share-based payment accounting by expanding the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The awards will be measured at grant date, consistent with accounting for employee share-based payment awards. The measurement date has been redefined as the date at which the grantor and grantee reach a mutual understanding of the key terms and conditions of the award. The requirement to reassess classification of equity- classified awards upon vesting has been eliminated. We do not expect the adoption of this standard to have a material impact on the Company's financial statements. The Company adopted ASU 2018-07 August 1, 2018. In February 2016, FASB issued ASU No. 2016-02, Accounting Standards Update No. 2016-02, Leases (Topic 842). ASU 2016-02 provides for improvements for accounting guidance related to leasing treatments on financial statements as a response to user input. The update maintains two classifications of leases, Financial lease and Operating leases. The Update is effective for fiscal years beginning after December 2015, 2018. The company has not yet adopted this standard but there may be impact to the presentation of the Company's financial statements during the period of adoption.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jan. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 4 - GOING CONCERN The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has consistently sustained losses since its inception. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a period of one year from the issuance of these financial statements. The Company's continuation as a going concern is dependent upon, among other things, its ability to increase revenues, adequately control operating expenses and receive debt and/or equity capital from third parties. No assurance can be given that the Company will be successful in these efforts. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company intends to continue to address this condition by seeking to raise additional capital through the issuance of debt and/or the sale of equity until such time that ongoing revenues can sustain the business, at which time capitalization may be considered through other means.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Jan. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 5 - DISCONTINUED OPERATIONS Hammer Fiber Optics Investment Ltd ceased operations in the Atlantic County geographical market on October 31, 2018 when Verizon Communications, LLC terminated the spectrum lease agreement. The operations of Hammer Fiber Optics Investments, Ltd were classified as a discontinued operation. Reporting of the discontinued operation is in accordance with Accounting Standards Update No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Open Data Centers, LLC ceased operations at its sole location in Piscataway, NJ on May 1, 2020. The operations of Open Data Centers, LLC were classified as a discontinued operation. Reporting of the discontinued operation is in accordance with Accounting Standards Update No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The following summarizes the assets and liabilities of the discontinue operations: January 31, January 31, 2022 2021 Assets Current Assets Cash $ - $ - Accounts receivable - 36,677 Other current assets - 16,139 Total current assets - 52,816 Other Assets Property and equipment- net 1,243,960 1,227,821 Total other assets 1,243,960 1,227,821 Total Assets $ 1,243,960 $ 1,280,637 Liabilities and Net Assets Current Liabilities Accounts payable $ 633,193 $ 121,406 Notes payable- related parties - 210,000 Notes payable - 3,313,544 Accrued interest - 382,474 Total current liabilities 633,193 4,027,424 Net assets (liabilities) $ 610,767 $ (2,746,787 ) The following summarizes the operations of the discontinued operations: January 31, 2022 January 31, 2021 Revenue $ - $ - Operating expenses Operations and maintenance - - General and administrative - - Depreciation and amortization - - - - Loss from operations - - Other income (expense) 7,207 4,286,673 Interest expense - - Total other income (expense) 7,207 - Net Income $ 7,207 $ 4,286,673

COMMITMENTS AND LEASES

COMMITMENTS AND LEASES	6 Months Ended
	Jan. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND LEASES	NOTE 6 - COMMITMENTS AND LEASES In discontinuing Open Data Centers, LLC and Hammer Fiber Optics Investments, Ltd. the company no longer has any material long term leases or obligations.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jan. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 7 - PROPERTY AND EQUIPMENT As of January 31, 2022 and January 31, 2021, property and equipment consisted of the following: January 31, January 31, 2022 2021 Life Computer and Telecom equipment $ 558,449 $ 472,598 5 years Less: Accumulated depreciation (417,887 ) (353,113 ) Total $ 140,562 $ 119,485

INDEFINITE LIVED INTANGIBLE ASS

INDEFINITE LIVED INTANGIBLE ASSETS	6 Months Ended
	Jan. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INDEFINITE LIVED INTANGIBLE ASSETS	NOTE 8 - INDEFINITE LIVED INTANGIBLE ASSETS The Company has $7,242,066 of recognized indefinite lived intangible assets, which consist of customer and supplier contract assets from acquisitions, intellectual property and goodwill. These assets are not amortized and are evaluated routinely for potential impairment. If a determination is made that the intangible asset is impaired after performing the initial qualitative assessment, the asset's fair value will be calculated and compared with the carrying value to determine whether an impairment loss should be recognized.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jan. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 - RELATED PARTY TRANSACTIONS During the fiscal year ended July 31, 2016, the Company entered into two promissory notes with a related party for an aggregate amount of $2,400,000 and $1,000,000, respectively. The $2,400,000 note matured on January 4, 2019. The terms consist of ten principal and interest payments due quarterly in the amount of $300,000 for total payments of $3,000,000. The Company is currently in default on this loan. To date, the Company has made payments on this note amounting to $725,831. The payments were applied to interest accrued as of the time of payment as well as to principal. The principal balance was $2,294,067 at July 31, 2019 and 2018. The interest accrued was $219,434 at July 31, 2019. The $1,000,000 note matured on June 9, 2018 at which time the principal became due in its entirety, in addition to simple interest accrued at 3%. In November 1, 2018, as a term of the Stock Purchase Agreements signed as part of the acquisition of Open Data Centers, LLC, 1stPoint Communications LLC and Endstream Communications LLC, this party agreed to convert this debt at $3 per share of Common Stock at a time of the Company's choosing. These notes were converted to equity at $3 per share of common stock on October 4, 2021. During the nine months ended April 30, 2020, the Company entered into a Stock Purchase Agreement with a related party on May 5, 2020 and May 30, 2020 in the amounts of $14,000 and $12,000 respectively. During the current fiscal year ending on July 31, 2020, the Company entered into convertible notes with a related party on April 20 th th th On January 15, 2022 the Company entered into a promissory note for the sum of $25,000 with a related party. These notes bear interest at a rate of 6%, payable quarterly and may be convertible into common stock at the Company's option, and on December 28, 2021, January 12, 2022 and January 21, 2022 1stPoint Communications, LLC entered into three notes in the amounts of $10,200, $7,600 and $4,000 with a related party under the same terms as the note on January 15, 2022. As of January 31, 2022, all of the related party payables are reported as current liabilities in the Consolidated Balance Sheet.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jan. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10 - INCOME TAXES The Company's income tax expense, deferred tax assets and liabilities, and liabilities for unrecognized tax benefits reflect management's best estimate of current and future taxes to be paid. The Company is subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgments and estimate are required in the determination of the consolidated income tax expense. The reconciliation of income tax benefit at the U.S. statutory rate of 21% for the quarter ended January 31, 2022 and 2021, to the Company's effective tax rate is as follows: January 31, 2022 2021 Income tax benefit provision at statutory rate $ (26,828 ) $ (14,391 ) Change in valuation allowance 26,828 14,391 $ - $ - The tax effects of temporary differences that give rise to the Company's net deferred tax assets as of January 31, 2022 and July 31, 2021 are as follows: January 31, January 31, 2022 2021 Net operating loss $ (127,753 ) $ 4,256,347 Valuation allowance 127,753 (4,256,347 ) $ - $ - The Company has approximately $23,339,000 of NOL carried forward to offset taxable income in future years. The tax laws enacted in 2017 also changed the treatment of NOL. Prior to the change, NOL could be carried back up to two years and carried forward up to 20 years to offset taxable income. In the new tax law, the NOL that can be carried forward is limited to 80% of the taxable income, can no longer be carried back, but are allowed to be carried forward indefinitely. The new law will apply to NOL arising in tax years beginning December 31, 2017, hence, $3,000,000 of the NOL will be subject to the 80% limitation and will be carried forward indefinitely while $19,297,000 of the NOL will be carried forward for 20 years and will begin to expire in 2036. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against all of the deferred tax assets relating to NOLs for every period because it is more likely than not that all of the deferred tax asset will not be realized. As of January 31, 2022 and January 31, 2021, the Company has no unrecognized income tax benefits. The Company's policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as a tax expense. No interest or penalties have been recorded during the quarters ended January 31, 2022 and January 31, 2021. As of January 31, 2022 and January 31, 2021, the Company did not have any amounts recorded pertaining to uncertain tax positions. The tax years from 2015 and forward remain open to examination by federal and state authorities due to net operating loss and credit carryforwards. The Company is currently not under examination by the Internal Revenue Service. The State of New Jersey has opened an audit matter associated with Hammer Fiber Optics Investments, Ltd and the matter is currently under examination by the State of New Jersey. The subsidiary did not have any revenues, nor did it have any payroll during most of the period under review. The company has engaged outside accounting counsel to represent its subsidiary in these matters.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jan. 31, 2022
Stockholders' Equity Attributable to Parent [Abstract]
STOCKHOLDERS' EQUITY	NOTE 11 - STOCKHOLDERS' EQUITY Treasury Stock In July 2016, certain shareholders of the Company contributed 9,291,670 restricted shares of their common stock to the Company's wholly-owned subsidiary, Hammer Wireless Corporation ("Treasury Shares"), for the purpose of effecting acquisitions, joint ventures or other business combinations with third parties. According to ASC 810-10-45 Consolidations, these shares are accounted for as treasury stock. On January 4, 2019 the Company repurchased 13,000,000 shares of restricted Common Stock from substantial related-party shareholders. The shares of common stock were repurchased by the Company at $0.0001 per share. The repurchased shares were added to the Treasury stock of the Company and intend to be used for the purposes of effecting mergers, acquisitions, joint ventures, contractual relations and may be issued to investors under private placement agreements. The company reclaimed 3,000,000 shares of Treasury stock in connection with a prior transaction, and will issue 5,000,000 shares of Treasury stock associated with the acquisition of TFS. The market value of the treasury shares at the closing of the acquisition were $4,250,500. 18,341,085 shares have been issued from Treasury in conjunction with mergers and acquisitions, and operating activities. In connection with the Equity Purchase Agreement with Peak One, the Company issued 350,000 shares of treasury stock. As a result of these transactions, the Company has a balance of 1,843,085 in Treasury.

FOREIGN CURRENCY

FOREIGN CURRENCY	6 Months Ended
	Jan. 31, 2022
Foreign Currency [Abstract]
FOREIGN CURRENCY	NOTE 12 - FOREIGN CURRENCY We transact business in various foreign currencies including the Euro and the Leone. In general, the functional currency of a foreign operation is the local country's currency. Consequently, revenues and expenses of operations outside the United States are translated into USD Dollars using the weighted-average exchange rates on the period end date and assets and liabilities of operations outside the United States are translated into US Dollars using the change rate on the balance sheet dates. The effects of foreign currency translation adjustments are not material to the Company's accompanying financial statements.

CLAIMS

CLAIMS	6 Months Ended
	Jan. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
CLAIMS	NOTE 13 - CLAIMS The following parties have filed claims against Hammer Fiber Optics Investments Ltd and are not secured: Calvi Electric v. Hammer Fiber Optics Inv, Ltd. $ 9209.69 15 Corporate Place, LLC v. Open Data $ 1,621,529 Horizon Blue Cross v. Hammer Fiber Optics Inv, Ltd. $ 17,308.58 Cross River Fiber v. Hammer Fiber Optics Inv, Ltd. $ 273,220 The matter of 15 Corporate Place, LLC v. Open Data Centers, LLC is currently set to move to a trial on May, 16, 2022. The claim is secured only by the security deposit provided under the lease agreement. Claims are only against the subsidiary, which does not currently have any assets, and there is no other security under the lease. Open Data Centers, LLC operated a single data center facility in Piscataway, NJ, on the premise of the plaintiff. The plaintiff is in possession of the premises and a security deposit made by the founders of the LLC in 2012. ODC, as a defendant, has made several attempts to resolve the matter and has offered the landlord assistance in leasing the space it once occupied to a new tenant. These offers have not been accepted by the Plaintiff. Cross River Fiber has advanced its claim against Hammer Fiber Optics Investments, Ltd. Cross River Fiber has expanded its claim to include Hammer Fiber Optics Holdings Corp, 1stPoint Communications, LLC, Endstream Communications, LLC, Open Data Centers, LLC, Manhattan Carrier Company, LLC, Erik Levitt personally, Local Telecommunications Services - FL, LLC, Local Telecommunications Services - NY, LLC, American Network Inc and Hammer Wireless Corporation. There never was, nor has there ever been, a contract between any of these entities or Mr. Levitt personally and Cross River Fiber, nor is there any security under the agreement between Cross River Fiber and Hammer Fiber Optics Investments, Ltd. Cross River Fiber, LLC prepared a motion to dismiss Hammer Fiber Optics Investments Ltd's response to its discovery request and Hammer Fiber Optics Investments Ltd. intends to modify its discovery request to include any additional information requested by Plaintiff. The claims in this matter are similar to those made by Zayo Group and Crown Castle Fiber, which were both settled.

S-1 REGISTRATION STATEMENT

S-1 REGISTRATION STATEMENT	6 Months Ended
	Jan. 31, 2022
Registration Statement [Abstract]
S-1 REGISTRATION STATEMENT	NOTE 14 - S-1 REGISTRATION STATEMENT On October 8, 2019, the Company completed an Equity Purchase Agreement with Peak One Opportunity Fund ("Peak One") and Peak One Investments, LLC ("Peak One Investments) giving the Company the option to sell up to $10,000,000 worth of our common stock to Peak One (the "Maximum Commitment Amount"), in increments, over the period ending twenty-four (24) months after the date the Registration Statement is deemed effective by the SEC (the "Commitment Period"). Additionally, the Company is required to issue Commitment Fees of 175,000 Shares each to Peak One and Peak One Investments. The Company also has an October 8, 2019 Registration Rights Agreement with Peak One requiring us to file an S-1 Registration Statement providing for the registration of 13,350,000 Shares that result from our selling to Peak One an indeterminate number of shares up to an aggregate purchase price of $10,000,000 and the subsequent resale by Peak One of such shares. This S-1 was effective on February 1, 2020. This registration statement is no longer in effect.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jan. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 15 - SUBSEQUENT EVENTS On February 11, 2022, the Company entered into a Securities Purchase Agreement (the "Mast SPA") by and between the Company and Mast Hill Fund, L.P. ("Mast"). Pursuant to the terms of the Mast SPA, the Company agreed to sell to Mast and Mast agreed to purchase from the Company, a promissory note in the aggregate principal amount of $550,000 (the "Mast Note"), convertible into shares of the Company's common stock upon the terms and subject to the limitations and conditions set forth in the Mast Note. The Mast Note has an original issue discount of $55,000, resulting in gross proceeds to the Company of $495,000. Mast has piggyback registration rights pursuant to the terms of the Mast SPA. Pursuant to the terms of the Mast SPA, the Company also agreed to issue (i) a common stock purchase warrant to purchase 150,000 shares of Company common stock at an exercise price of $3.00, subject to adjustment as set forth therein (the "Mast First Warrant"), (ii) a common stock purchase warrant to purchase 150,000 shares of Company common stock at an exercise price of $1.50, subject to adjustment as set forth therein (the "Mast Second Warrant" and together with the Mast First Warrant, the "Mast Warrants"), and (iii) 475,000 shares of Company common stock to Mast as additional consideration for the purchase of the Mast Note. The Mast Note bears interest at a rate of 12% per annum and matures on February 11, 2023. Any amount of principal or interest on the Mast Note which is not paid when due will bear interest at a rate of the lesser of (i) 16% per annum and (ii) the maximum amount permitted by law. The Mast Note may not be prepaid in whole or in part except as provided in the Mast Note by way of conversion at Mast's option. Mast has the right at any time to convert all or any part of the outstanding and unpaid principal amount and interest of the Mast Note into common stock, subject to a 4.99% equity blocker, at a conversion price of $0.58 per share; provided, however, The foregoing description of the Mast SPA, the Mast Note and the Mast Warrants does not purport to be complete and is qualified in its entirety by reference to the Mast SPA, the Mast Note, the First Mast Warrant and the Second Mast Warrant, copies of which are filed as Exhibits 10.1, 10.2, 10.3 and 10.4 to Form 8-K filed on February 23, 2022. On February 17, 2022, the Company entered into a Securities Purchase Agreement (the "Talos SPA") by and between the Company and Talos Victory Fund, LLC ("Talos"). Pursuant to the terms of the Talos SPA, the Company agreed to sell to Talos, and Talos agreed to purchase from the Company, a promissory note in the aggregate principal amount of $275,000 (the "Talos Note"), convertible into shares of the Company's common stock upon the terms and subject to the limitations and conditions set forth in the Talos Note. The Talos Note has an original issue discount of $27,500, resulting in gross proceeds to the Company of $247,500. Talos has piggyback registration rights pursuant to the terms of the Talos SPA. Pursuant to the terms of the Talos SPA, the Company also agreed to issue (i) a common stock purchase warrant to purchase 75,000 shares of Company common stock at an exercise price of $3.00, subject to adjustment as set forth therein (the "Talos First Warrant"), (ii) a common stock purchase warrant to purchase 75,000 shares of Company common stock at an exercise price of $1.50, subject to adjustment as set forth therein (the "Talos Second Warrant" and together with the Talos First Warrant, the "Talos Warrants"), and (iii) 237,500 shares of Company common stock to Talos as additional consideration for the purchase of the Talos Note. The Talos Note bears interest at a rate of 12% per annum and matures on February 17, 2023. Any amount of principal or interest on the Talos Note which is not paid when due will bear interest at a rate of the lesser of (i) 16% per annum, and (ii) the maximum amount permitted by law. The Talos Note may not be prepaid in whole or in part except as provided in the Talos Note by way of conversion at Talos' option.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jan. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The interim financial statements for the three months ending October 31, 2021 are unaudited. These financial statements are prepared in accordance with requirements for unaudited interim periods and consequently do not include all disclosures required to be in conformity with accounting principles generally accepted in the United States of America. The results of operations for the interim periods are not necessarily indicative of the results for the full year. In management's opinion, all adjustments necessary for a fair presentation of the Company's financial statements are reflected in the interim periods included and are of a normal recurring nature. These interim financial statements should be read in conjunction with the financial statements included in our Form 10-K, for the year ended July 31, 2021, as filed with the Securities and Exchange Commission ("the SEC") at www.sec.gov
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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
COVID-19 Pandemic Update	COVID-19 Pandemic Update In March 2020, the World Health Organization declared a global health pandemic related to the outbreak of a novel coronavirus. The COVID-19 pandemic adversely affected the company's financial performance in the third and fourth quarters of fiscal year 2020 and could have an impact throughout fiscal year 2021. In response to the COVID-19 pandemic, government health officials have recommended and mandated precautions to mitigate the spread of the virus, including shelter-in-place orders, prohibitions on public gatherings and other similar measures. As a result, the company and certain of the company's customers and suppliers temporarily closed locations beginning late in the second quarter of fiscal year 2020, continuing into the third quarter of fiscal year 2020. Partly due to the COVID-19 pandemic, the Company shut down the operations of its' Open Data Centers, LLC operations effective April 30, 2020. There is uncertainty around the duration and breadth of the COVID-19 pandemic, as well as the impact it will have on the company's operations, supply chain and demand for its products. As a result, the ultimate impact on the company's business, financial condition or operating results cannot be reasonably estimated at this time. On May 5, 2020 and on February 26, 2021 the Company's 1stPoint Communications LLC subsidiary entered into two $88,097 notes payable to Bank of America, pursuant to the Paycheck Protection Program ("PPP Loan") under the CARES Act. 1stPoint has met the requirements for Loan Forgiveness, and as of October 19, 2021, these notes have been forgiven by the Small Business Administration in accordance with rules of the CARES Act. The amounts of have been reflected as other income in the company's financial statements.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents include cash in banks, money market funds and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.
Property and equipment	Property and equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is recorded on a straight-line basis over the useful lives of the assets. For furniture and fixtures, the useful life is five years, Leasehold Improvements are depreciated over their respective lease terms. Expenditures for additions and improvements are capitalized. Repairs and maintenance are expensed as incurred.
Impairment of long-lived assets	Impairment of long-lived assets The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to future undiscounted cash flows to be generated by the asset. If such assets are considered impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company has not recognized any related impairment losses.
Indefinite lived intangible assets	Indefinite lived intangible assets The Company reviews property, plant and equipment, inventory component prepayments and certain identifiable intangibles, excluding goodwill, for impairment. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If property, plant and equipment, inventory component prepayments and certain identifiable intangibles are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair value. The Company has not recorded any related impairment losses. The Company does not amortize goodwill and intangible assets with indefinite useful lives, rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. The Company has not recorded any related impairment losses.
Revenue recognition	Revenue recognition We adopted ASC 606 on August 1, 2018. Revenue is measured based on a consideration specified in a contract or agreement with a customer. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Incidental items that are immaterial in the context of the contract are recognized as expense. Unearned revenues are recorded when cash payments are received or due in advance of the performance of the services. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.
Income taxes	Income taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, "Accounting for Income Taxes". The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. As of July 31, 2020, the Company did not have any amounts recorded pertaining to uncertain tax positions.
Fair value measurements	Fair value measurements The Company adopted the provisions of ASC Topic 820, "Fair Value Measurements and Disclosures", which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 - quoted prices in active markets for identical assets or liabilities Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The Company has no assets or liabilities valued at fair value on a recurring basis. Level 3 - Unobservable inputs reflecting management's assumptions about the inputs used in pricing the asset or liability.
Consolidation of financial statements	Consolidation of financial statements Hammer Fiber Optics Holdings Corp. is the parent company and sole shareholder of Hammer Wireless Corporation and its subsidiaries, 1stPoint Communications, LLC and its subsidiaries (which includes Shelcomm, Inc), Endstream Communications, LLC and American Network Inc., Hammer Wireless [SL], Ltd, and HammerPay [USA], Ltd. The financial statements for Hammer Fiber Optics Holdings Corp. and its wholly-owned subsidiaries are reported on a consolidated basis. All significant intercompany accounts and transactions have been eliminated. Its subsidiaries Open Data Centers, LLC and Hammer Fiber Optics Investments, Ltd. are discontinued and are considered discontinued operations. Open Data Centers, LLC was dissolved on December 30, 2020
Basic and Diluted Earnings (Loss) Per Share	Basic and Diluted Earnings (Loss) Per Share The basic earnings (loss) per share are calculated by dividing the Company's net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company's net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company. As of January 31, 2022, and January 31, 2021, there were no common stock equivalents outstanding.
Recent accounting pronouncements	Recent accounting pronouncements In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation (Topic 718) ("ASU 2018-07"). ASU 2018-07 provides for improvements to nonemployee share-based payment accounting by expanding the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The awards will be measured at grant date, consistent with accounting for employee share-based payment awards. The measurement date has been redefined as the date at which the grantor and grantee reach a mutual understanding of the key terms and conditions of the award. The requirement to reassess classification of equity- classified awards upon vesting has been eliminated. We do not expect the adoption of this standard to have a material impact on the Company's financial statements. The Company adopted ASU 2018-07 August 1, 2018. In February 2016, FASB issued ASU No. 2016-02, Accounting Standards Update No. 2016-02, Leases (Topic 842). ASU 2016-02 provides for improvements for accounting guidance related to leasing treatments on financial statements as a response to user input. The update maintains two classifications of leases, Financial lease and Operating leases. The Update is effective for fiscal years beginning after December 2015, 2018. The company has not yet adopted this standard but there may be impact to the presentation of the Company's financial statements during the period of adoption.

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jan. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of assets and liabilities & operations of discontinue operations	January 31, January 31, 2022 2021 Assets Current Assets Cash $ - $ - Accounts receivable - 36,677 Other current assets - 16,139 Total current assets - 52,816 Other Assets Property and equipment- net 1,243,960 1,227,821 Total other assets 1,243,960 1,227,821 Total Assets $ 1,243,960 $ 1,280,637 Liabilities and Net Assets Current Liabilities Accounts payable $ 633,193 $ 121,406 Notes payable- related parties - 210,000 Notes payable - 3,313,544 Accrued interest - 382,474 Total current liabilities 633,193 4,027,424 Net assets (liabilities) $ 610,767 $ (2,746,787 )
Schedule of operations of discontinued operations	January 31, 2022 January 31, 2021 Revenue $ - $ - Operating expenses Operations and maintenance - - General and administrative - - Depreciation and amortization - - - - Loss from operations - - Other income (expense) 7,207 4,286,673 Interest expense - - Total other income (expense) 7,207 - Net Income $ 7,207 $ 4,286,673

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jan. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	January 31, January 31, 2022 2021 Life Computer and Telecom equipment $ 558,449 $ 472,598 5 years Less: Accumulated depreciation (417,887 ) (353,113 ) Total $ 140,562 $ 119,485

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jan. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of effective income tax reconciliation	January 31, 2022 2021 Income tax benefit provision at statutory rate $ (26,828 ) $ (14,391 ) Change in valuation allowance 26,828 14,391 $ - $ -
Schedule of net deferred tax assets	January 31, January 31, 2022 2021 Net operating loss $ (127,753 ) $ 4,256,347 Valuation allowance 127,753 (4,256,347 ) $ - $ -

CLAIMS (Tables)

CLAIMS (Tables)	6 Months Ended
	Jan. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of claims	Calvi Electric v. Hammer Fiber Optics Inv, Ltd. $ 9209.69 15 Corporate Place, LLC v. Open Data $ 1,621,529 Horizon Blue Cross v. Hammer Fiber Optics Inv, Ltd. $ 17,308.58 Cross River Fiber v. Hammer Fiber Optics Inv, Ltd. $ 273,220

CORPORATE HISTORY AND BACKGRO_2

CORPORATE HISTORY AND BACKGROUND ON MERGER (Narrative) (Details) - Share Exchange Agreement [Member] - shares	Apr. 13, 2016	Feb. 02, 2015	Apr. 25, 2016	Oct. 25, 2021
Tanaris Power Holdings, Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage		100.00%
Percentage of issued and outstanding common stock		51.00%
Tanaris Power Holdings, Inc [Member] | Hammer Fiber Optics Investments, Ltd [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of shares acquired			20,000,000
Number of restricted shares issued			50,000,000
Reverse split	1 for 1,000
Telecom Financial Services Limited [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ownership percentage				100.00%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	6 Months Ended
	Jan. 31, 2022USD ($)
Property, Plant and Equipment [Line Items]
Property plant and equipment depreciation method	straight-line basis
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	five years
1stPoint Communications LLC [Member] | Paycheck Protection Program [Member]
Property, Plant and Equipment [Line Items]
Notes Payable	$ 88,097

DISCONTINUED OPERATIONS - Sched

DISCONTINUED OPERATIONS - Schedule of assets and liabilities of discontinued operations (Details) - USD ($)	Jan. 31, 2022	Jul. 31, 2021	Jan. 31, 2021
Current Assets
Cash	$ 0		$ 0
Accounts receivable	0		36,677
Other current assets	0		16,139
Total current assets	0		52,816
Other Assets
Property and equipment- net	1,243,960		1,227,821
Total other assets	1,243,960		1,227,821
Total Assets	1,243,960	$ 1,243,960	1,280,637
Current Liabilities
Accounts payable	633,193		121,406
Notes payable	0		3,313,544
Notes payable- related parties	0		210,000
Accrued interest	0		382,474
Total current liabilities	633,193		4,027,424
Net assets (liabilities)	$ 610,767		$ (2,746,787)

DISCONTINUED OPERATIONS - Sch_2

DISCONTINUED OPERATIONS - Schedule of Operations of discontinued operations (Details) - USD ($)	6 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Revenue	$ 0	$ 0
Operating expenses
Operations and maintenance	0	0
General and administrative	0	0
Depreciation and amortization	0	0
Operating expenses	0	0
Loss from operations	0	0
Other income (expense)	7,207	4,286,673
Interest expense	0	0
Total other income (expense)	7,207	0
Net Income (Loss)	$ 7,207	$ 4,286,673

PROPERTY AND EQUIPMENT - Schedu

PROPERTY AND EQUIPMENT - Schedule of property, plant and equipment (Details) - USD ($)	6 Months Ended
	Jan. 31, 2022	Jul. 31, 2021	Jan. 31, 2021
Less: Accumulated depreciation	$ (417,887)		$ (353,113)
Total	$ 140,562	$ 155,939	119,485
Computer and Telecom equipment [Member]
Life	5 years
Property, Plant and Equipment, Gross	$ 558,449		$ 472,598

INDEFINITE LIVED INTANGIBLE A_2

INDEFINITE LIVED INTANGIBLE ASSETS (Narrative) (Details)	Jan. 31, 2022USD ($)
Indefinite-lived Intangible Assets [Line Items]
Recognized indefinite lived intangible assets	$ 7,242,066

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($)

Jan. 15, 2022

Jan. 12, 2022

Aug. 15, 2020

May 12, 2020

May 05, 2020

Jan. 21, 2022

Dec. 28, 2021

May 30, 2020

Mar. 26, 2020

Mar. 17, 2020

Jun. 19, 2018

Jul. 31, 2016

Oct. 31, 2021

Jan. 31, 2022

Oct. 04, 2021

Jan. 19, 2021

Nov. 23, 2020

Sep. 01, 2020

Apr. 20, 2020

Apr. 06, 2020

Aug. 24, 2019

Jul. 31, 2019

Jul. 31, 2018

Feb. 12, 2018

Promissory note [Member]

Related Party Transaction [Line Items]

Face amount of debt

$ 25,000

$ 7,600

$ 4,000

$ 10,200

$ 2,400,000

$ 75,000

$ 10,000

$ 100,000

$ 36,300

Maturity date

Jan. 4, 2019

Interest rate

6.00%

6.00%

6.00%

6.00%

6.00%

6.00%

6.00%

6.00%

Payment terms of debt

The terms consist of ten principal and interest payments due quarterly in the amount of $300,000 for total payments of $3,000,000.

Frequency of periodic payment

quarterly

quarterly

quarterly

quarterly

Quarterly principal and interest payments

$ 300,000

Ten principal and interest payments

3,000,000

Payments of debt

$ 725,831

Notes payable, related parties

$ 2,294,067

$ 2,294,067

Accrued interest

$ 219,434

Promissory note two [Member]

Related Party Transaction [Line Items]

Face amount of debt

$ 1,000,000

Maturity date

Jun. 9, 2018

Interest rate

3.00%

Conversion price

$ 3

$ 3

Stock Purchase Agreement [Member]

Related Party Transaction [Line Items]

Amount of transaction with related party

$ 10,000

$ 14,000

$ 12,000

$ 40,000

$ 25,000

Erik Levitt [Member] | Convertible promissory note [Member]

Related Party Transaction [Line Items]

Face amount of debt

$ 12,000

$ 36,300

Payments of debt

$ 12,000

Andrea Levitt [Member] | Convertible promissory note [Member]

Related Party Transaction [Line Items]

Face amount of debt

$ 12,000

Payments of debt

$ 4,500

Related party one [Member] | Promissory note [Member]

Related Party Transaction [Line Items]

Face amount of debt

$ 12,000

Related party two [Member] | Promissory note [Member]

Related Party Transaction [Line Items]

Face amount of debt

$ 6,000

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details) - USD ($)	6 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Income Tax Disclosure [Abstract]
Income tax rate	21.00%	21.00%
Operating loss carryforwards	$ 23,339,000
Net operating loss carryforwards subject to 80% limitation	3,000,000
Net operating loss carryforwards for 20 years	$ 19,297,000

INCOME TAXES - Schedule of effe

INCOME TAXES - Schedule of effective tax rate reconciliation (Details) - USD ($)	6 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Income Tax Disclosure [Abstract]
Income tax benefit provision at statutory rate	$ (26,828)	$ (14,391)
Change in valuation allowance	26,828	14,391
Income Tax Expense (Benefit)	$ 0	$ 0

INCOME TAXES - Schedule of net

INCOME TAXES - Schedule of net deferred tax assets (Details) - USD ($)	Jan. 31, 2022	Jan. 31, 2021
Income Tax Disclosure [Abstract]
Net operating gain/loss	$ (127,753)	$ 4,256,347
Valuation allowance	127,753	(4,256,347)
Net deferred tax assets	$ 0	$ 0

STOCKHOLDERS' EQUITY (Narrative

STOCKHOLDERS' EQUITY (Narrative) (Details) - USD ($)	Jan. 04, 2019	Jul. 31, 2016	Jan. 31, 2022
Class of Stock [Line Items]
Treasury shares issued for acquisition (shares)		9,291,670
Number of stock repurchased	13,000,000
Price per share	$ 0.0001
Treasury stock, balance (shares)			1,843,085
Market Value Of Treasury Stocks At Close Of Acquisition			$ 4,250,500
Equity purchase agreement [Member]
Class of Stock [Line Items]
Treasury shares issued for acquisition (shares)	18,341,085
Treasury stock, balance (shares)	350,000
Financial services sector [Member] | Equity purchase agreement [Member]
Class of Stock [Line Items]
Treasury shares issued for acquisition (shares)	5,000,000
Number of stock repurchased	3,000,000

CLAIMS (Narrative) (Details)

CLAIMS (Narrative) (Details)	6 Months Ended
	Jan. 31, 2022USD ($)
15 Corporate Place South, LLC v. Open Data [Member]
Loss Contingencies [Line Items]
Amount of claim	$ 1,621,529

CLAIMS - Schedule of claims (De

CLAIMS - Schedule of claims (Details)	6 Months Ended
	Jan. 31, 2022USD ($)
Calvi Electric v. Hammer Fiber Optics Inv, Ltd [Member]
Loss Contingencies [Line Items]
Amount of claim	$ 9,209.69
15 Corporate Place South, LLC v. Open Data [Member]
Loss Contingencies [Line Items]
Amount of claim	1,621,529
Horizon Blue Cross v. Hammer Fiber Optics Inv, Ltd [Member]
Loss Contingencies [Line Items]
Amount of claim	17,308.58
Cross River Fiber v. Hammer Fiber Optics Inv, Ltd [Member]
Loss Contingencies [Line Items]
Amount of claim	$ 273,220

S-1 REGISTRATION STATEMENT (Nar

S-1 REGISTRATION STATEMENT (Narrative) (Details)	Oct. 08, 2019USD ($)shares
Equity Purchase Agreement [Member]
Registration Payment Arrangement [Line Items]
Maximum commitment amount | $	$ 10,000,000
Number of share issue for commitment fees | shares	175,000
Registration Rights Agreement [Member]
Registration Payment Arrangement [Line Items]
Number of shares sold | shares	13,350,000
Aggregate purchase price | $	$ 10,000,000

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details) - USD ($)	Feb. 11, 2022	Feb. 17, 2022	Jan. 31, 2022	Jan. 31, 2021	Jan. 04, 2019
Subsequent Event [Line Items]
Gross proceeds of debt			$ 87,547	$ 186,440
Common stock exercise price per share					$ 0.0001
Subsequent Events [Member] | Mast Hill Fund L P [Member]
Subsequent Event [Line Items]
Common stock exercise price per share	$ 0.58
Debt instrument interest rate	12.00%
Maturity period	February 11, 2023
Equity percentage	4.99%
Debt instrument conversion amount	$ 1,750
Warrants expiration period	five-year
Principal or interest rate percentage	16.00%
Subsequent Events [Member] | Talos Victory Fund, Llc [Member]
Subsequent Event [Line Items]
Debt instrument interest rate		12.00%
Maturity period		February 17, 2023
Principal or interest rate percentage		16.00%
Subsequent Events [Member] | Securities purchase agreement [Member] | Mast Hill Fund L P [Member]
Subsequent Event [Line Items]
Aggregate principal amount	$ 550,000
Original issue discount	55,000
Gross proceeds of debt	495,000
Common stock warrant purchase	475,000
Subsequent Events [Member] | Securities purchase agreement [Member] | Talos Victory Fund, Llc [Member]
Subsequent Event [Line Items]
Aggregate principal amount		$ 275,000
Original issue discount		27,500
Gross proceeds of debt		247,500
Common stock warrant purchase		237,500
Subsequent Events [Member] | Securities purchase agreement [Member] | First Warrant [Member] | Mast Hill Fund L P [Member]
Subsequent Event [Line Items]
Common stock warrant purchase	$ 150,000
Common stock exercise price per share	$ 3
Equity percentage	4.99%
Subsequent Events [Member] | Securities purchase agreement [Member] | First Warrant [Member] | Talos Victory Fund, Llc [Member]
Subsequent Event [Line Items]
Common stock warrant purchase		$ 75,000
Common stock exercise price per share		$ 3
Subsequent Events [Member] | Securities purchase agreement [Member] | Second Warrant [Member] | Mast Hill Fund L P [Member]
Subsequent Event [Line Items]
Common stock warrant purchase	$ 150,000
Common stock exercise price per share	$ 1.50
Subsequent Events [Member] | Securities purchase agreement [Member] | Second Warrant [Member] | Talos Victory Fund, Llc [Member]
Subsequent Event [Line Items]
Common stock warrant purchase		$ 75,000
Common stock exercise price per share		$ 1.50