Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Oct. 31, 2018 | Jan. 29, 2019 | Apr. 30, 2018 | |
Document and Entity Information: | |||
Entity Registrant Name | VGRAB COMMUNICATIONS INC. | ||
Document Type | 10-K | ||
Document Period End Date | Oct. 31, 2018 | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,551,887 | ||
Current Fiscal Year End Date | --10-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Entity Common Stock, Shares Outstanding | 35,513,838 | ||
Entity Public Float | $ 1,226,266 | ||
Trading Symbol | vgrbf |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Oct. 31, 2018 | Oct. 31, 2017 |
Current Assets | ||
Cash | $ 17,964 | $ 15,887 |
GST recoverable | 982 | 798 |
Prepaids | 4,799 | 3,303 |
Total Current Assets | 23,745 | 19,988 |
Equipment | 3,931 | |
Total Assets | 27,676 | 19,988 |
Current Liabilities | ||
Accounts payable | 454,254 | 265,251 |
Accrued liabilities | 9,555 | 10,239 |
Due to related parties | 354,877 | 37,484 |
Loan payable | 100,000 | 100,000 |
Total Current Liabilities | 918,686 | 412,974 |
Total Liabilities | 918,686 | 412,974 |
Stockholders' Deficit | ||
Common stock value | 5,358,377 | 5,298,377 |
Additional paid-in capital | 123,093 | 123,093 |
Accumulated other comprehensive income | 50,428 | 51,283 |
Deficit | (6,422,908) | (5,865,739) |
Total Stockholders' Equity (Deficit) | (891,010) | (392,986) |
Total Liabilities and Stockholders' Equity (Deficit) | $ 27,676 | $ 19,988 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - shares | Oct. 31, 2018 | Oct. 31, 2017 | |
Balance Sheet | |||
Common stock, shares authorized | [1] | ||
Common stock, shares issued | 35,513,838 | 35,013,838 | |
Common stock, shares outstanding | 35,513,838 | 35,013,838 | |
[1] | Unlimited |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Oct. 31, 2018 | Oct. 31, 2017 | |
Operating expenses | ||
Accounting | $ 19,206 | $ 16,734 |
General and administrative expenses | 50,139 | 47,677 |
Management fees | 62,038 | |
Professional fees | 7,058 | 8,013 |
Regulatory and filing | 21,426 | 21,271 |
Salaries and wages | 206,825 | |
Software development costs | 183,427 | 180,000 |
Travel and entertainment | 11,450 | |
Total operating expenses | 561,569 | 273,695 |
Other items | ||
Gain (loss) on foreign exchange | 7,376 | (15,922) |
Interest expense | 2,976 | 250 |
Net loss | (557,169) | (289,867) |
Translation to reporting currency | (855) | 12,957 |
Comprehensive loss | $ (558,024) | $ (276,910) |
Loss per common share - basic and diluted | $ (0.02) | $ (0.01) |
Weighted common shares outstanding - basic and diluted | 35,091,920 | 35,013,838 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Total |
Beginning Balance, shares at Oct. 31, 2016 | 35,013,838 | ||||
Beginning Balance, amount at Oct. 31, 2016 | $ 5,298,377 | $ 123,093 | $ 38,326 | $ (5,575,872) | $ (116,076) |
Translation to reporting currency | 12,957 | 12,957 | |||
Net loss for the period | (289,867) | (289,867) | |||
Ending Balance, shares at Oct. 31, 2017 | 35,013,838 | ||||
Ending Balance, amount at Oct. 31, 2017 | $ 5,298,377 | 123,093 | 51,283 | (5,865,739) | (392,986) |
Management fees paid by stock, shares | 500,000 | ||||
Management fees paid by stock, value | $ 60,000 | 60,000 | |||
Translation to reporting currency | (855) | (855) | |||
Net loss for the period | (557,169) | (557,169) | |||
Ending Balance, shares at Oct. 31, 2018 | 35,513,838 | ||||
Ending Balance, amount at Oct. 31, 2018 | $ 5,358,377 | $ 123,093 | $ 50,428 | $ (6,422,908) | $ (891,010) |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 12 Months Ended | |
Oct. 31, 2018 | Oct. 31, 2017 | |
Cash Flows used in Operating Activities | ||
Net loss | $ (557,169) | $ (289,867) |
Adjustment to reconcile net loss to net cash used in operating activities: | ||
Accrued interest | 2,976 | 250 |
Management fees, non-cash | 60,000 | |
Foreign exchange | (3,705) | 16,389 |
Changes in operating assets and liabilities: | ||
GST recoverable | (203) | 791 |
Prepaids | (1,577) | 404 |
Accounts payable and accrued liabilities | 190,186 | 213,724 |
Due to related parties | 27,481 | 728 |
Accrued salaries | 180,965 | |
Net cash used in operating activities | (101,046) | (57,581) |
Cash Flows from Investing Activities | ||
Payments for purchase of equipment | 3,931 | |
Net cash provided by investing activities | (3,931) | |
Cash Flows from Financing Activities | ||
Loan payable to related party | 107,205 | 35,841 |
Net cash provided by financing activities | 107,205 | 35,841 |
Effect of exchange rate changes on cash | (151) | 572 |
Net increase (decrease) in cash during the period | 2,077 | (21,168) |
Cash, beginning of period | 15,887 | 37,055 |
Cash, end of period | $ 17,964 | $ 15,887 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
Oct. 31, 2018 | |
Notes | |
Organization and Basis of Presentation | NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION Nature of Operations On January 8, 2015, the Company entered into a software purchase agreement with Hampshire Capital Limited (the Vendor) to acquire the VGrab Software Application (VGrab Application). VGrab Application is developed for use with smartphones using the Android and Apple iOS operating systems allowing users to redeem vouchers on their smartphones at a number of retailers and merchants. On June 24, 2015, the Company formed a subsidiary, VGrab International Ltd., (Subsidiary) under the Labuan Companies Act 1990 in Federal Territory of Labuan, Malaysia. On May 17, 2018, the Company formed an additional subsidiary, VGrab Communications Malaysia Sdn Bhd (VGrab Malaysia) under the Labuan Companies Act 1990 in Federal Territory of Labuan, Malaysia (collectively, the Subsidiaries). The Companys consolidated financial statements are prepared on a going concern basis in accordance with US generally accepted accounting principles (GAAP) which contemplate the realization of assets and discharge of liabilities and commitments in the normal course of business. The Company has not generated operating revenues to date, and has accumulated losses of $6,422,908 since inception. The Company has funded its operations through the issuance of capital stock and debt. Management plans to raise additional funds through equity and/or debt financing. There is no certainty that further funding will be available as needed. These factors raise substantial doubt about the ability of the Company to continue operating as a going concern. The Companys ability to continue its operations as a going concern, realize the carrying value of its assets, and discharge its liabilities in the normal course of business is dependent upon its ability to raise new capital sufficient to fund its commitments and ongoing losses, and ultimately on generating profitable operations. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Oct. 31, 2018 | |
Notes | |
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These consolidated financial statements and related notes are presented in accordance with US GAAP and are presented in United States dollars. Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain of the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. Significant areas of estimate include the carrying value of the intangible assets and deferred income tax obligations. The actual results experienced by the Company may differ materially and adversely from the Companys estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Reclassifications Certain prior period amounts in the accompanying audited consolidated financial statements have been reclassified to conform to the current periods presentation. These reclassifications had no effect on the results of operations or financial position for any period presented. Principles of Consolidation The audited consolidated financial statements include the accounts of the Company and its Subsidiaries. On consolidation, all intercompany balances and transactions are eliminated. Internal-Use Software The Company incurs costs related to the development of its VGrab Applications, Vmore Platform and VGrab.com website. Costs incurred in the planning and evaluation stage of internally-developed software and website, as well as development costs where economic benefit cannot be readily determined, are expensed as incurred. Costs incurred and accumulated during the development stage, where economic benefit of the software can be readily determined, are capitalized and included as part of Intangible assets on the balance sheets. Additional improvements to the web site following the initial development stage are expensed as incurred. Capitalized internally-developed software and website development costs are amortized over their expected economic life using the straight-line method. Fair Value of Financial Instruments The Companys financial instruments consist of cash, accounts payable and accrued liabilities as well as amounts due to related parties and loans payable. The carrying value of these financial instruments approximates their fair value based on their short-term nature. The Company is not exposed to significant interest, exchange or credit risk arising from these financial instruments. The fair value hierarchy under US GAAP is based on the following three levels of inputs, of which the first two are considered observable and the last unobservable: Level 1 Level 2 Level 3 Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). There were no assets or liabilities measured at fair value on a nonrecurring basis during the periods ended October 31, 2018 and 2017. Foreign Currency Translation and Transaction The Companys functional currency is the Canadian dollar and reporting currency is the United States dollar. The Company translates assets and liabilities to US dollars using year-end exchange rates, and translates revenues and expenses using average exchange rates during the period. Gains and losses arising on translation to the reporting currency are included in the other comprehensive income. The Subsidiarys functional and reporting currency is the United States dollar. Foreign exchange gains and losses on the settlement of foreign currency transactions are included in foreign exchange expense. Except for translations of intercompany balances, all translations of monetary balances to the functional currency at the yearend exchange rate are included in foreign exchange expense. The translations of intercompany balances to the functional currency at the yearend exchange rate are included in accumulated other comprehensive income or loss. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. Income Taxes Income taxes are determined using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes that date of enactment. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. The Company accounts for uncertainty in income taxes by applying a two-step method. First, it evaluates whether a tax position has met a more likely than not recognition threshold, and second, it measures that tax position to determine the amount of benefit, if any, to be recognized in the financial statements. The application of this method did not have a material effect on the Company's consolidated financial statements. Loss per Share The Company presents both basic and diluted loss per share (LPS) on the face of the consolidated statements of operations. Basic LPS is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during the year. Diluted LPS gives effect to all dilutive potential common shares outstanding during the period including convertible debt, stock options, and warrants, using the treasury stock method. Diluted LPS excludes all dilutive potential shares if their effect is anti-dilutive. Equipment Equipment is stated at cost and is amortized over its estimated useful life on a straight-line basis over 2 years. |
Related Party Transactions Disc
Related Party Transactions Disclosures | 12 Months Ended |
Oct. 31, 2018 | |
Notes | |
Related Party Transactions Disclosures | NOTE 3 - RELATED PARTY TRANSACTIONS The following amounts were due to related parties as at: October 31, 2018 October 31, 2017 Due to a major shareholder for payments made on behalf of the Company (a) $ 1,301 $ 728 Notes payable to a major shareholder (b) 148,289 36,719 Due to the Chief Executive Officer (CEO) and Director of the Company (a) 121,156 -- Due to the Chief Financial Officer (CFO) and Director of the Company (a) 84,131 -- Due to a former director (a) -- 37 Total due to related parties $ 354,877 $ 37,484 (a) Amounts are unsecured, due on demand and bear no interest. (b) Amounts are unsecured, due on demand and bear interest at 4%. During the year ended October 31, 2018, the Company recorded $2,976 (2017 - $250) in interest expense associated with its liabilities under the notes payable issued to the major shareholder. During the year ended October 31, 2018, the Company received $107,205 (2017 - $35,841) in exchange for the notes payable to Hampshire Avenue SDN BHD, a parent company of Hampshire Capital Limited and Hampshire Infotech. The loans bear interest at 4% per annum, are unsecured and payable on demand. During the year ended October 31, 2018, the Company incurred $100,536 (2017 - $Nil) in wages and salary to Mr. Lim Hun Beng, the Companys CEO, President and director, in addition, the Company incurred $24,076 (2017 - $Nil) in reimbursable expenses with Mr. Lim. During the year ended October 31, 2018, the Company incurred $80,429 (2017 - $Nil) in wages and salary to Mr. Liong Fook Weng, the Companys CFO and director, in addition, the Company incurred $7,326 (2017 - $Nil) in reimbursable expenses with Mr. Liong. On May 31, 2018, the Company entered into a release agreement with its then current director, Mr. Skurtys. As consideration for Mr. Skurtyss past services, the Company agreed to issue to Mr. Skurtys 500,000 shares of its common stock as fully paid and non-assessable. The fair value of these shares was calculated to be $60,000, which the Company recorded as management fees. The shares were issued on September 4, 2018 (Note 5). |
Equipment Disclosure
Equipment Disclosure | 12 Months Ended |
Oct. 31, 2018 | |
Notes | |
Equipment Disclosure | NOTE 4 - EQUIPMENT As at October 31, 2018, the equipment consisted of several computers and office equipment required for operations and costing at $3,931. The Company did not record any amortization on its equipment for the year ended October 31, 2018. |
Common Stock Disclosure
Common Stock Disclosure | 12 Months Ended |
Oct. 31, 2018 | |
Notes | |
Common Stock Disclosure | NOTE 5 - COMMON STOCK During the year ended October 31, 2018, the Company, the Company issued 500,000 shares of its common stock to Mr. Skurtys (Note 3). The shares were issued as consideration for Mr. Skurtyss past services Share issuances during the year ended October 31, 2017 During the year ended October 31, 2017, the Company did not have any transactions that would have resulted in issuance of its common stock. |
Income Taxes Disclosure
Income Taxes Disclosure | 12 Months Ended |
Oct. 31, 2018 | |
Notes | |
Income Taxes Disclosure | NOTE 6 - INCOME TAXES The Company has established a valuation allowance against its federal and state deferred tax assets due to the uncertainty surrounding the realization of such assets as evidenced by the cumulative losses from operations through October 31, 2018. Management periodically evaluates the recoverability of the deferred tax assets. At such time as it is determined that it is more likely than not that deferred assets are realizable, the valuation allowance will be reduced accordingly and recorded as a tax benefit. A reconciliation of income taxes at statutory rates is as follows: Year ended October 31, 2018 2017 Loss before income taxes $ (557,169) $ (289,867) Statutory tax rate 26% 26% Expected recovery of income taxes (145,000) (75,000) Non-deductible expenses - 3,000 Share issue costs (4,000) (4,000) Effect of foreign exchange 359,000 346,000 Adjustment to prior year provision to statutory tax returns 923,000 942,000 Change in valuation allowance (1,133,000) (1,212,000) $ -- $ -- The Companys tax-effected deferred income tax assets and liabilities are estimated as follows: Year ended October 31, 2018 2017 Share issuance costs $ 13,000 $ 13,000 Non-capital losses carried forward 307,000 228,000 Mineral properties 4,000 4,000 Less: Valuation allowance (324,000) (245,000) $ -- $ -- The Company has non-capital losses carried forward of approximately $1,182,000 which will expire from 2031 to 2038. |
Subsequent Event, Disclosure
Subsequent Event, Disclosure | 12 Months Ended |
Oct. 31, 2018 | |
Notes | |
Subsequent Event, Disclosure | NOTE 7 - SUBSEQUENT EVENTS Subsequent to October 31, 2018, the Company received a total of $86,800 under loan agreements with its major shareholder. The loans bear interest at 4% per annum compounded monthly are unsecured, non-convertible and payable on demand. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies: Basis of Presentation (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Basis of Presentation | Basis of Presentation These consolidated financial statements and related notes are presented in accordance with US GAAP and are presented in United States dollars. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies: Use of Estimates (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain of the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. Significant areas of estimate include the carrying value of the intangible assets and deferred income tax obligations. The actual results experienced by the Company may differ materially and adversely from the Companys estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies: Reclassifications Policy (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Reclassifications Policy | Reclassifications Certain prior period amounts in the accompanying audited consolidated financial statements have been reclassified to conform to the current periods presentation. These reclassifications had no effect on the results of operations or financial position for any period presented. |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies: Principles of Consolidation Policy (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Principles of Consolidation Policy | Principles of Consolidation The audited consolidated financial statements include the accounts of the Company and its Subsidiaries. On consolidation, all intercompany balances and transactions are eliminated. |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies: Internal-use Software Policy (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Internal-use Software Policy | Internal-Use Software The Company incurs costs related to the development of its VGrab Applications, Vmore Platform and VGrab.com website. Costs incurred in the planning and evaluation stage of internally-developed software and website, as well as development costs where economic benefit cannot be readily determined, are expensed as incurred. Costs incurred and accumulated during the development stage, where economic benefit of the software can be readily determined, are capitalized and included as part of Intangible assets on the balance sheets. Additional improvements to the web site following the initial development stage are expensed as incurred. Capitalized internally-developed software and website development costs are amortized over their expected economic life using the straight-line method. |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies: Fair Value of Financial Instruments Policy (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Fair Value of Financial Instruments Policy | Fair Value of Financial Instruments The Companys financial instruments consist of cash, accounts payable and accrued liabilities as well as amounts due to related parties and loans payable. The carrying value of these financial instruments approximates their fair value based on their short-term nature. The Company is not exposed to significant interest, exchange or credit risk arising from these financial instruments. The fair value hierarchy under US GAAP is based on the following three levels of inputs, of which the first two are considered observable and the last unobservable: Level 1 Level 2 Level 3 Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). There were no assets or liabilities measured at fair value on a nonrecurring basis during the periods ended October 31, 2018 and 2017. |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies: Foreign Currency Translation and Transaction Policy (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Foreign Currency Translation and Transaction Policy | Foreign Currency Translation and Transaction The Companys functional currency is the Canadian dollar and reporting currency is the United States dollar. The Company translates assets and liabilities to US dollars using year-end exchange rates, and translates revenues and expenses using average exchange rates during the period. Gains and losses arising on translation to the reporting currency are included in the other comprehensive income. The Subsidiarys functional and reporting currency is the United States dollar. Foreign exchange gains and losses on the settlement of foreign currency transactions are included in foreign exchange expense. Except for translations of intercompany balances, all translations of monetary balances to the functional currency at the yearend exchange rate are included in foreign exchange expense. The translations of intercompany balances to the functional currency at the yearend exchange rate are included in accumulated other comprehensive income or loss. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies: Income Taxes Policy (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Income Taxes Policy | Income Taxes Income taxes are determined using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes that date of enactment. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. The Company accounts for uncertainty in income taxes by applying a two-step method. First, it evaluates whether a tax position has met a more likely than not recognition threshold, and second, it measures that tax position to determine the amount of benefit, if any, to be recognized in the financial statements. The application of this method did not have a material effect on the Company's consolidated financial statements. |
Summary of Significant Accou_10
Summary of Significant Accounting Policies: Loss Per Share Policy (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Loss Per Share Policy | Loss per Share The Company presents both basic and diluted loss per share (LPS) on the face of the consolidated statements of operations. Basic LPS is computed by dividing net loss available to common shareholders by the weighted average number of shares outstanding during the year. Diluted LPS gives effect to all dilutive potential common shares outstanding during the period including convertible debt, stock options, and warrants, using the treasury stock method. Diluted LPS excludes all dilutive potential shares if their effect is anti-dilutive. |
Summary of Significant Accou_11
Summary of Significant Accounting Policies: Equipment Policy (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Policies | |
Equipment Policy | Equipment Equipment is stated at cost and is amortized over its estimated useful life on a straight-line basis over 2 years. |
Related Party Transactions Di_2
Related Party Transactions Disclosures: Schedule of Amounts Due to Related Parties (Tables) | 12 Months Ended |
Oct. 31, 2018 | |
Tables/Schedules | |
Schedule of Amounts Due to Related Parties | October 31, 2018 October 31, 2017 Due to a major shareholder for payments made on behalf of the Company (a) $ 1,301 $ 728 Notes payable to a major shareholder (b) 148,289 36,719 Due to the Chief Executive Officer (CEO) and Director of the Company (a) 121,156 -- Due to the Chief Financial Officer (CFO) and Director of the Company (a) 84,131 -- Due to a former director (a) -- 37 Total due to related parties $ 354,877 $ 37,484 (a) Amounts are unsecured, due on demand and bear no interest. (b) Amounts are unsecured, due on demand and bear interest at 4%. |
Income Taxes Disclosure_ Schedu
Income Taxes Disclosure: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Oct. 31, 2018 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | Year ended October 31, 2018 2017 Loss before income taxes $ (557,169) $ (289,867) Statutory tax rate 26% 26% Expected recovery of income taxes (145,000) (75,000) Non-deductible expenses - 3,000 Share issue costs (4,000) (4,000) Effect of foreign exchange 359,000 346,000 Adjustment to prior year provision to statutory tax returns 923,000 942,000 Change in valuation allowance (1,133,000) (1,212,000) $ -- $ -- |
Income Taxes Disclosure_ Sche_2
Income Taxes Disclosure: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Oct. 31, 2018 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | Year ended October 31, 2018 2017 Share issuance costs $ 13,000 $ 13,000 Non-capital losses carried forward 307,000 228,000 Mineral properties 4,000 4,000 Less: Valuation allowance (324,000) (245,000) $ -- $ -- |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Details) - USD ($) | Oct. 31, 2018 | Oct. 31, 2017 |
Details | ||
Deficit | $ 6,422,908 | $ 5,865,739 |
Related Party Transactions Di_3
Related Party Transactions Disclosures: Schedule of Amounts Due to Related Parties (Details) - USD ($) | Oct. 31, 2018 | Oct. 31, 2017 |
Due to related parties | $ 354,877 | $ 37,484 |
Major shareholder for payments made on behalf of the Company | ||
Due to related parties | 1,301 | 728 |
Major shareholder note payable | ||
Due to related parties | 148,289 | 36,719 |
CEO and Director | ||
Due to related parties | 121,156 | |
CFO and Director | ||
Due to related parties | $ 84,131 | |
Former director | ||
Due to related parties | $ 37 |
Related Party Transactions Di_4
Related Party Transactions Disclosures (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2018 | Oct. 31, 2017 | |
Interest expense | $ 2,976 | $ 250 |
Wages and Salary, for officers | 206,825 | |
Value of shares issued for Management Fees | 60,000 | |
Major shareholder note payable | ||
Interest expense | 2,976 | 250 |
Hampshire Avenue SDN BHD | ||
Proceeds from Notes payable | 107,205 | $ 35,841 |
CEO and Director | ||
Wages and Salary, for officers | 100,536 | |
Reimbursable expense incurred | 24,076 | |
CFO and Director | ||
Wages and Salary, for officers | 80,429 | |
Reimbursable expense incurred | $ 7,326 | |
Release agreement with former director, Mr. Skurtys | ||
Common stock issued for Management Fees | 500,000 | |
Value of shares issued for Management Fees | $ 60,000 |
Equipment Disclosure (Details)
Equipment Disclosure (Details) | Oct. 31, 2018USD ($) |
Equipment | $ 3,931 |
Consisting of several computers and office equipment | |
Equipment | $ 3,931 |
Common Stock Disclosure (Detail
Common Stock Disclosure (Details) | 12 Months Ended |
Oct. 31, 2018USD ($)shares | |
Value of shares issued for Management Fees | $ 60,000 |
Release agreement with former director, Mr. Skurtys | |
Common stock issued for Management Fees | shares | 500,000 |
Value of shares issued for Management Fees | $ 60,000 |
Income Taxes Disclosure_ Sche_3
Income Taxes Disclosure: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2018 | Oct. 31, 2017 | |
Details | ||
Loss before income taxes | $ (557,169) | $ (289,867) |
Statutory tax rate | 26.00% | 26.00% |
Expected recovery of income taxes | $ (145,000) | $ (75,000) |
Non-deductible expenses | 3,000 | |
Share issue costs | (4,000) | (4,000) |
Effect of foreign exchange | 359,000 | 346,000 |
Adjustment to prior year provision to statutory tax returns | 923,000 | 942,000 |
Change in valuation allowance | $ (1,133,000) | $ (1,212,000) |
Income Taxes Disclosure_ Sche_4
Income Taxes Disclosure: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Oct. 31, 2018 | Oct. 31, 2017 |
Details | ||
Share issuance costs (deferred income tax) | $ 13,000 | $ 13,000 |
Non-capital losses carried forward | 307,000 | 228,000 |
Mineral properties (deferred income tax) | 4,000 | 4,000 |
(Less) Valuation allowance | $ (324,000) | $ (245,000) |
Income Taxes Disclosure (Detail
Income Taxes Disclosure (Details) | Oct. 31, 2018USD ($) |
Details | |
Operating losses carried forward | $ 1,182,000 |
Subsequent Event, Disclosure (D
Subsequent Event, Disclosure (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jan. 29, 2019 | Oct. 31, 2018 | Oct. 31, 2017 | |
Loans received from related party | $ 107,205 | $ 35,841 | |
Loan agreements with its major shareholder | |||
Loans received from related party | $ 86,800 |