Document Entity Information
Document Entity Information | 3 Months Ended |
Oct. 31, 2020 | |
Cover [Abstract] | |
Entity Registrant Name | 3D PIONEER SYSTEMS, INC. |
Entity Central Index Key | 0001556753 |
Document Type | 10-12G |
Amendment Flag | false |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Balance Sheets
Balance Sheets - USD ($) | Oct. 31, 2020 | Jul. 31, 2020 | Jul. 31, 2019 |
Current Assets | |||
Cash | |||
Total Current Assets | |||
TOTAL ASSETS | 0 | 0 | 0 |
Current Liabilities | |||
Accounts payable | 806 | 500 | 2,700 |
Due to related party | 22,155 | 18,655 | |
Total Current Liabilities | 22,961 | 19,155 | 2,700 |
STOCKHOLDERS' EQUITY (DEFICIT) | |||
Series A Preferred stock value | 1 | 1 | |
Common stock value | 358,525 | 108,525 | 108,525 |
Additional paid-in capital | 637,844 | 752,844 | 748,885 |
Accumulated deficit | (1,019,331) | (880,525) | (860,110) |
Total Stockholders' Equity (Deficit) | (22,961) | (19,155) | (2,700) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $ 0 | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Oct. 31, 2020 | Jul. 31, 2020 | Jul. 31, 2019 |
Statement of Financial Position [Abstract] | |||
Series A Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Series A Preferred stock, shares authorized | 1,000 | 1,000 | 1,000 |
Series A Preferred stock, shares issued | 1,000 | 1,000 | 0 |
Series A Preferred stock, shares outstanding | 1,000 | 1,000 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 599,999,000 | 599,999,000 | 599,999,000 |
Common stock, shares issued | 358,525,256 | 108,525,256 | 108,525,256 |
Common stock, shares outstanding | 358,525,256 | 108,525,256 | 108,525,256 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 12 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | |
Income Statement [Abstract] | ||||
Revenue | ||||
Total Revenue | ||||
Expenses | ||||
Consulting expense | 135,000 | |||
General & administrative expenses | 3,806 | 8,760 | 20,415 | 1,200 |
Total Operating Expenses | 138,806 | 8,760 | 20,415 | 1,200 |
Loss from Operations | (138,806) | (8,760) | (20,415) | (1,200) |
Net Loss | $ (138,806) | $ (8,760) | $ (20,415) | $ (1,200) |
Loss per share - basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding - basic and diluted | 334,068,734 | 108,525,256 | 108,525,256 | 108,525,256 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Jul. 31, 2018 | $ 108,525 | $ 748,885 | $ (858,910) | $ (1,500) | |
Balance, shares at Jul. 31, 2018 | 108,525,256 | ||||
Net loss | (1,200) | (1,200) | |||
Balance at Jul. 31, 2019 | $ 108,525 | 748,885 | (860,110) | (2,700) | |
Balance, shares at Jul. 31, 2019 | 108,525,256 | ||||
Related party debt forgiven | 3,420 | 3,420 | |||
Preferred Stock issued for settlement of related party debt | $ 1 | 539 | 540 | ||
Preferred Stock issued for settlement of related party debt, shares | 1,000 | ||||
Net loss | (8,760) | (8,760) | |||
Balance at Oct. 31, 2019 | $ 108,525 | $ 1 | 752,844 | (868,870) | (7,500) |
Balance, shares at Oct. 31, 2019 | 108,525,256 | 1,000 | |||
Balance at Jul. 31, 2019 | $ 108,525 | 748,885 | (860,110) | (2,700) | |
Balance, shares at Jul. 31, 2019 | 108,525,256 | ||||
Related party debt forgiven | 3,420 | 3,420 | |||
Preferred Stock issued for settlement of related party debt | $ 1 | 539 | 540 | ||
Preferred Stock issued for settlement of related party debt, shares | 1,000 | ||||
Net loss | (20,415) | (20,415) | |||
Balance at Jul. 31, 2020 | $ 108,525 | $ 1 | 752,844 | (880,525) | (19,155) |
Balance, shares at Jul. 31, 2020 | 108,525,256 | 1,000 | |||
Common Stock issued to related party for consulting services | $ 250,000 | (115,000) | 115,000 | ||
Common Stock issued to related party for consulting services, shares | 250,000,000 | ||||
Net loss | (138,806) | (138,806) | |||
Balance at Oct. 31, 2020 | $ 358,525 | $ 1 | $ 637,844 | $ (1,019,331) | $ (22,961) |
Balance, shares at Oct. 31, 2020 | 358,525,256 | 1,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 3 Months Ended | 12 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | |
Cash Flow from Operating Activities | ||||
Net loss | $ (138,806) | $ (8,760) | $ (20,415) | $ (1,200) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Common stock issued for consulting services - related party | 135,000 | |||
Expenses paid by related party | 3,960 | 3,960 | ||
Changes in operating assets and liabilities | ||||
Increase (decrease) in accounts payable | 306 | (2,500) | (2,200) | 1,200 |
Net Cash Used in Operating Activities | (3,500) | (7,300) | (18,655) | |
Cash Flows from Financing Activities | ||||
Proceeds from related party | 3,500 | 7,300 | 18,655 | |
Net Cash Provided by Financing Activities | 3,500 | 7,300 | 18,655 | |
Net change in cash | ||||
Cash at beginning | ||||
Cash at end | ||||
Supplemental Disclosure of Interest and Income Taxes Paid: | ||||
Interest paid | ||||
Income taxes paid | ||||
Non-Cash Financing Activities: | ||||
Related party debt forgiven | 3,420 | 3,420 | ||
Preferred stock issued for settlement of related party debt | $ 540 | $ 540 |
Organization and Operations
Organization and Operations | 3 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Jul. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Organization and Operations | NOTE 1 - ORGANIZATION AND OPERATIONS 3D Pioneer Systems, Inc. (the “Company”) was originally incorporated in the State of Nevada on April 2, 2008 under the name Mobile Gaming International Corp. On October 13, 2014, the Company changed its name to 3D Pioneer Systems, Inc., its current name. The Company has been inactive since the summer of 2014, and is currently a public shell company seeking to create value for its shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. No potential merger candidate has been identified at this time. | NOTE 1 - ORGANIZATION AND OPERATIONS 3D Pioneer Systems, Inc. (the “Company”) was originally incorporated in the State of Nevada on April 2, 2008 under the name Mobile Gaming International Corp. On October 13, 2014, the Company changed its name to 3D Pioneer Systems, Inc., its current name. The Company has been inactive since the summer of 2014, and is currently a public shell company seeking to create value for its shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. No potential merger candidate has been identified at this time. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Jul. 31, 2020 | |
Accounting Policies [Abstract] | ||
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s fiscal year-end is July 31. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 740, “Income Taxes,” for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. Stock-based Compensation The Company follows FASB ASC Subtopic 718, “Stock Compensation,” for accounting for stock-based compensation. The guidance requires that share-based payment transactions with employees and non-employees for services rendered be recognized in the financial statements based on their fair value at the grant date and recognized as compensation expense over their vesting periods. Basic and Diluted Loss Per Share Earnings per share (EPS) is calculated in accordance with the FASB ASC Topic 260, “Earnings Per Share.” Basic net income (loss) per share is based upon the weighted average number of common shares outstanding. Diluted net income (loss) per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Potentially-dilutive securities are excluded from income (loss) per share when they are anti-dilutive. The Company has no potentially-dilutive securities issued and outstanding during the periods presented. Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents are on deposit with financial institutions without any restrictions. At October 31, 2020 and July 31, 2020, cash and cash equivalents amounted to $0. COVID-19 In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. Due to the outbreak and spread of COVID-19, the Company’s management and advisors responsible for financial reporting have experienced administrative delays, include travel restrictions and reduced work hours. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at October 31, 2020. The Company is not may | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s fiscal year-end is July 31. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 740, “Income Taxes,” for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. Stock-based Compensation The Company follows FASB ASC Subtopic 718, “Stock Compensation,” for accounting for stock-based compensation. The guidance requires that share-based payment transactions with employees and non-employees, such as grants of stock options and restricted stock for services, be recognized in the financial statements based on their fair value at the grant date and recognized as compensation expense over their vesting periods. Basic and Diluted Loss Per Share Earnings per share (EPS) is calculated in accordance with the FASB ASC Topic 260, “Earnings Per Share.” Basic net income (loss) per share is based upon the weighted average number of common shares outstanding. Diluted net income (loss) per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Potentially-dilutive securities are excluded from income (loss) per share when they are anti-dilutive. The Company has no potentially-dilutive securities issued and outstanding during the periods presented. Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents are on deposit with financial institutions without any restrictions. At July 31, 2020 and 2019, cash and cash equivalents amounted to $0. COVID-19 In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. Due to the outbreak and spread of COVID-19, the Company’s management and advisors responsible for financial reporting have experienced administrative delays, include travel restrictions and reduced work hours. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at July 31, 2020. The Company is not may |
Going Concern
Going Concern | 3 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Jul. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Going Concern | NOTE 3 – GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company had an accumulated deficit at October 31, 2020 of $1,019,331 and its liabilities exceeded its assets. These factors among others raise substantial doubt about the Company’s ability to continue as a going concern. While the Company is attempting to commence operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. | NOTE 3 – GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company had an accumulated deficit at July 31, 2020 of $880,525 and its liabilities exceeded its assets. These factors among others raise substantial doubt about the Company’s ability to continue as a going concern. While the Company is attempting to commence operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement its business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Stockholders' Deficit
Stockholders' Deficit | 3 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Jul. 31, 2020 | |
Equity [Abstract] | ||
Stockholders' Deficit | NOTE 4 – STOCKHOLDERS’ DEFICIT Capital Stock Issued During the year ended July 31, 2020, the Company issued 1,000 shares of Series A Preferred Stock to Barbara McIntyre Bauman for repayment of the related party debt totaling $540 (see NOTE 5). The Series A Preferred Stock entitle holder to 1,000,000 votes per share on all shareholder matters and have no conversion rights. During the three months ended October 31, 2020, the Company issued 250,000,000 shares of common stock to Barbara McIntyre Bauman for consulting services totaling $135,000. Authorized Capital Stock Common Stock The Company is authorized to issue 599,999,000 shares of common stock with a par value of $0.001 per share. As of October 31, 2020 and July 31, 2020, 358,525,256 and 108,525,256 shares were issued and outstanding, respectively. Preferred Stock The Company is authorized to issue 1,000 shares of Series A Preferred Stock with a par value of $0.001 per share. As of October 31, 2020, and July 31, 2020, 1,000 shares were issued and outstanding. The Series A Preferred Stock is not convertible into any other class or series of stock and shall not be entitled to receive any dividend except as may be declared by the Board of Directors. On all matters to come before the shareholders of the Company, the holder of Series A Preferred shall be entitled to 1,000,000 votes per share. | NOTE 4 – STOCKHOLDERS’ DEFICIT Capital Stock Issued During the year ended July 31, 2020, Barbara McIntyre Bauman (the Company’s then-President, Secretary, and Treasurer) paid for $3,960 of expenses in the Company’s behalf. Shortly thereafter and also during the year ended July 31, 2020, the Company issued 1,000 shares of Series A Preferred Stock valued at $540 to Ms. Bauman for repayment of these expenses. The resulting gain on forgiveness of related party debt of $3,420 was recorded as an increase in additional paid-in capital. Authorized Capital Stock Common Stock The Company is authorized to issue 599,999,000 shares of common stock with a par value of $0.001 per share. As of July 31, 2020, and 2019, 108,525,256 shares were issued and outstanding. Preferred Stock On October 16, 2019, the Board of Directors of the Company authorized and approved to create a new class of voting preferred stock called “Series A Preferred Stock,” consisting of 1,000 shares authorized, $0.001 par value. The Series A Preferred Stock is not convertible into any other class or series of stock and shall not be entitled to receive any dividend except as may be declared by the Board of Directors. On all matters to come before the shareholders of the Company, the holder of Series A Preferred shall be entitled to 1,000,000 votes per share. As of July 31, 2020 and 2019, 1,000 and 0 shares were issued and outstanding, respectively. This preferred stock was repurchased by and returned to the Company and cancelled subsequent to year-end as disclosed in NOTE 6. |
Related Party Transactions
Related Party Transactions | 3 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Jul. 31, 2020 | |
Related Party Transactions [Abstract] | ||
Related Party Transactions | NOTE 5 – RELATED PARTY TRANSACTIONS During the three months ended October 31, 2019, Barbara McIntyre Bauman paid expenses on behalf of the Company totaling $3,960 to revive the Company’s operations. Also during the three months ended October 31, 2019, the Company issued 1,000 shares of Series A Preferred Stock valued at $540 to Ms. Bauman for repayment of these amounts owed to her. The difference of $3,420 was forgiven by Ms. Bauman, and the Company recorded the resulting gain as additional paid-in capital. During the three months ended October 31, 2020, the Company issued 250,000,000 shares of common stock to Barbara McIntyre Bauman for consulting services totaling $135,000. During the three months ended October 31, 2020 and 2019, the Company received $3,500 and $7,300, respectively, in advances from related parties, resulting in related party payables of $22,155 and $18,655 at October 31, 2020 and July 31, 2020, respectively. These loans are non-interest bearing and due on demand. | NOTE 5 – RELATED PARTY TRANSACTIONS During the year ended July 31, 2020, Barbara McIntyre Bauman, the Company’s former President, Secretary and Treasurer, paid expenses on behalf of the Company totaling $3,960 to revive the Company’s operations. Also during the year ended July 31, 2020, the Company issued 1,000 shares of Series A Preferred Stock valued at $540 to Ms. Bauman for repayment of these amounts owed to her. The difference of $3,420 was forgiven by Ms. Bauman, and the Company recorded the resulting gain as additional paid-in capital. During the years ended July 31, 2020 and 2019, the Company received $18,655 and $0, respectively, in advances from related parties, resulting in related party payables of $18,655 and $0 at July 31, 2020 and 2019, respectively. These loans are non-interest bearing and due on demand. |
Income Tax (10-K)
Income Tax (10-K) | 12 Months Ended |
Jul. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Tax | NOTE 6 – INCOME TAX The Company provides for income taxes under ASC 740, “ Income Taxes.” The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of July 31, 2020 and 2019, are as follows: July 31, July 31, 2020 2019 Net operating loss carryforward $ (880,525 ) $ (860,110 ) Effective tax rate 21 % 21 % Deferred tax asset (184,910 ) (180,623 ) Less: Valuation allowance 184,910 180,623 Net deferred asset $ - $ - The valuation allowance increased by $4,287 and $252 during the years ended July, 2020 and 2019, respectively. As of July 31, 2020, the Company had $880,525 in net operating losses (“NOLs”) that may be available to offset future taxable income, which begin to expire between 2036 and 2038. NOLs generated in tax years prior to July 31, 2018 can be carryforward for twenty years, whereas NOLs generated after July 31, 2018 can be carryforward indefinitely. In accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards is subject to annual limitations following greater than 50% ownership changes. |
Subsequent Events
Subsequent Events | 3 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Jul. 31, 2020 | |
Subsequent Events [Abstract] | ||
Subsequent Events | NOTE 6 – SUBSEQUENT EVENTS On December 1, 2020, pursuant to a Securities Purchase Agreement dated October 30, 2020, ABRAR Investments Pty Ltd purchased 250,000,000 shares of the Company’s common stock and 1,000 shares of the Company’s Series A preferred stock (the “Purchased Shares”) from Barbara M. Bauman for $135,000. The Purchased Shares represented approximately 70% of the Company’s issued and outstanding shares of Common Stock. In connection with the closing of the transaction and in accordance with the Agreement, the Board appointed Mr. Agim Metalla to fill vacancy on the Company’s Board of Directors caused by the resignation of Ms. Bauman. In addition, Mr. Shilow Shaffier appointed CEO, President, CFO and secretary of the Company. On December 1, 2020, as consideration for redemption of 1,000 shares of Series A Preferred Stock, the Company issued to ABRAR Investments Pty Ltd, the Shareholder, 1,000,000 shares of Common Stock, concurrently with and upon the Shareholder returning the Series A Preferred Stock to the Company. The Series A Preferred Stock was returned to the Company and cancelled. The Company has evaluated events occurring from October 31, 2020 through the date these financial statements were issued and determined there are no additional events requiring disclosure. | NOTE 7 – SUBSEQUENT EVENTS On August 10, 2020, the Company issued 250,000,000 shares of common stock to Barbara McIntyre Bauman for consulting services totaling $135,000. On September 24, 2020, Barbara McIntyre Bauman paid additional expenses on behalf of the Company totaling $3,500. On December 1, 2020, pursuant to a Securities Purchase Agreement dated October 30, 2020, ABRAR Investments Pty Ltd purchased 250,000,000 shares of the Company’s common stock and 1,000 shares of the Company’s Series A preferred stock for $135,000 (the “Purchased Shares”) from Barbara M. Bauman. The Purchased Shares represented approximately 70% of the Company’s issued and outstanding shares of Common Stock. In connection with the closing of the transaction and in accordance with the Agreement, the Board appointed Mr. Agim Metalla to fill vacancy on the Company’s Board of Directors caused by the resignation of Ms. Bauman. In addition, Mr. Shilow Shaffier appointed CEO, President, CFO and secretary of the Company. Also on December 1, 2020, as consideration for redemption of 1,000 shares of Series A Preferred Stock, the Company issued to ABRAR Investments Pty Ltd, the Shareholder, 1,000,000 shares of Common Stock, concurrently with and upon the Shareholder returning the Series A Preferred Stock to the Company. The Series A Preferred Stock was returned to the Company and cancelled. The Company has evaluated events occurring from the July 31, 2020 through the date these financial statements were issued and determined there are no additional events requiring disclosure. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Jul. 31, 2020 | |
Accounting Policies [Abstract] | ||
Basis of Presentation | Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s fiscal year-end is July 31. | Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s fiscal year-end is July 31. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Income Taxes | Income Taxes The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 740, “Income Taxes,” for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. | Income Taxes The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 740, “Income Taxes,” for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. |
Stock-based Compensation | Stock-based Compensation The Company follows FASB ASC Subtopic 718, “Stock Compensation,” for accounting for stock-based compensation. The guidance requires that share-based payment transactions with employees and non-employees for services rendered be recognized in the financial statements based on their fair value at the grant date and recognized as compensation expense over their vesting periods. | Stock-based Compensation The Company follows FASB ASC Subtopic 718, “Stock Compensation,” for accounting for stock-based compensation. The guidance requires that share-based payment transactions with employees and non-employees, such as grants of stock options and restricted stock for services, be recognized in the financial statements based on their fair value at the grant date and recognized as compensation expense over their vesting periods. |
Basic and Diluted Loss Per Share | Basic and Diluted Loss Per Share Earnings per share (EPS) is calculated in accordance with the FASB ASC Topic 260, “Earnings Per Share.” Basic net income (loss) per share is based upon the weighted average number of common shares outstanding. Diluted net income (loss) per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Potentially-dilutive securities are excluded from income (loss) per share when they are anti-dilutive. The Company has no potentially-dilutive securities issued and outstanding during the periods presented. | Basic and Diluted Loss Per Share Earnings per share (EPS) is calculated in accordance with the FASB ASC Topic 260, “Earnings Per Share.” Basic net income (loss) per share is based upon the weighted average number of common shares outstanding. Diluted net income (loss) per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Potentially-dilutive securities are excluded from income (loss) per share when they are anti-dilutive. The Company has no potentially-dilutive securities issued and outstanding during the periods presented. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents are on deposit with financial institutions without any restrictions. At October 31, 2020 and July 31, 2020, cash and cash equivalents amounted to $0. | Cash and Cash Equivalents Cash equivalents consist of highly liquid investments with maturities of three months or less when purchased. Cash and cash equivalents are on deposit with financial institutions without any restrictions. At July 31, 2020 and 2019, cash and cash equivalents amounted to $0. |
COVID-19 | COVID-19 In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. Due to the outbreak and spread of COVID-19, the Company’s management and advisors responsible for financial reporting have experienced administrative delays, include travel restrictions and reduced work hours. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at October 31, 2020. The Company is not may | COVID-19 In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. Due to the outbreak and spread of COVID-19, the Company’s management and advisors responsible for financial reporting have experienced administrative delays, include travel restrictions and reduced work hours. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at July 31, 2020. The Company is not may |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Reconciliation of Income Taxes | The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of July 31, 2020 and 2019, are as follows: July 31, July 31, 2020 2019 Net operating loss carryforward $ (880,525 ) $ (860,110 ) Effective tax rate 21 % 21 % Deferred tax asset (184,910 ) (180,623 ) Less: Valuation allowance 184,910 180,623 Net deferred asset $ - $ - |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | Oct. 31, 2020 | Jul. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 |
Accounting Policies [Abstract] | ||||
Cash equivalents | $ 0 | $ 0 | $ 0 | $ 0 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) (10-K) - USD ($) | Oct. 31, 2020 | Jul. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 |
Accounting Policies [Abstract] | ||||
Cash equivalents | $ 0 | $ 0 | $ 0 | $ 0 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | Oct. 31, 2020 | Jul. 31, 2020 | Jul. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accumulated deficit | $ (1,019,331) | $ (880,525) | $ (860,110) |
Going Concern (Details Narrat_2
Going Concern (Details Narrative) (10-K) - USD ($) | Oct. 31, 2020 | Jul. 31, 2020 | Jul. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accumulated deficit | $ (1,019,331) | $ (880,525) | $ (860,110) |
Stockholders' Deficit (Details
Stockholders' Deficit (Details Narrative) - USD ($) | Aug. 10, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 |
Stock issued during the period services, value | $ 115,000 | ||||
Common stock, shares authorized | 599,999,000 | 599,999,000 | 599,999,000 | ||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||
Common stock, shares issued | 358,525,256 | 108,525,256 | 108,525,256 | ||
Common stock, shares outstanding | 358,525,256 | 108,525,256 | 108,525,256 | ||
Preferred stock, shares authorized | 1,000 | 1,000 | 1,000 | ||
Preferred, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||
Preferred, shares issued | 1,000 | 1,000 | 0 | ||
Preferred, shares outstanding | 1,000 | 1,000 | 0 | ||
Barbara McIntyre Bauman [Member] | |||||
Preferred stock voting rights | The Series A Preferred Stock entitle holder to 1,000,000 votes per share on all shareholder matters and has no conversion rights. | ||||
Stock issued during the period services | 250,000,000 | 250,000,000 | |||
Stock issued during the period services, value | $ 135,000 | $ 135,000 | |||
Series A Preferred Stock [Member] | Barbara McIntyre Bauman [Member] | |||||
Stock issued during the period | 1,000 | 1,000 | |||
Repayment of the related party debt | $ 540 | $ 540 | |||
Preferred stock voting rights | The holder of Series A Preferred shall be entitled to 1,000,000 votes per share. |
Stockholders' Deficit (Detail_2
Stockholders' Deficit (Details Narrative) (10-K) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | |
Common stock, shares authorized | 599,999,000 | 599,999,000 | 599,999,000 | |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Common stock, shares issued | 358,525,256 | 108,525,256 | 108,525,256 | |
Common stock, shares outstanding | 358,525,256 | 108,525,256 | 108,525,256 | |
Preferred stock, shares authorized | 1,000 | 1,000 | 1,000 | |
Preferred, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Preferred, shares issued | 1,000 | 1,000 | 0 | |
Preferred, shares outstanding | 1,000 | 1,000 | 0 | |
Barbara McIntyre Bauman [Member] | ||||
Preferred stock voting rights | The Series A Preferred Stock entitle holder to 1,000,000 votes per share on all shareholder matters and has no conversion rights. | |||
Series A Preferred Stock [Member] | Barbara McIntyre Bauman [Member] | ||||
Stock issued during the period | 1,000 | 1,000 | ||
Repayment of the related party debt | $ 540 | $ 540 | ||
Preferred stock voting rights | The holder of Series A Preferred shall be entitled to 1,000,000 votes per share. |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | Aug. 10, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | Sep. 24, 2020 |
Stock issued during the period services, value | $ 115,000 | |||||
Due to related party payables | 22,155 | $ 18,655 | $ 18,655 | $ 3,500 | ||
Advances from related parties | $ 3,500 | 7,300 | 18,655 | |||
Barbara McIntyre Bauman [Member] | ||||||
Expenses paid | $ 3,960 | $ 3,960 | ||||
Stock issued during the period services | 250,000,000 | 250,000,000 | ||||
Stock issued during the period services, value | $ 135,000 | $ 135,000 | ||||
Barbara McIntyre Bauman [Member] | Series A Preferred Stock [Member] | ||||||
Stock issued during the period | 1,000 | 1,000 | ||||
Repayment of the related party debt | $ 540 | $ 540 | ||||
Gain on forgiven of debt | $ 3,420 | $ 3,420 |
Related Party Transactions (D_2
Related Party Transactions (Details Narrative) (10-K) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | Sep. 24, 2020 | |
Advances from related parties | $ 3,500 | $ 7,300 | $ 18,655 | ||
Due to related party payables | $ 22,155 | 18,655 | 18,655 | $ 3,500 | |
Barbara McIntyre Bauman [Member] | |||||
Expenses paid | $ 3,960 | $ 3,960 | |||
Barbara McIntyre Bauman [Member] | Series A Preferred Stock [Member] | |||||
Stock issued during the period | 1,000 | 1,000 | |||
Repayment of the related party debt | $ 540 | $ 540 | |||
Gain on forgiven of debt | $ 3,420 | $ 3,420 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) $ in Thousands | 12 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
Valuation Allowance | $ 4,287 | $ 252 |
Net operating loss | $ (880,525) | $ (860,110) |
Earliest Tax Year [Member] | ||
Operating loss expiration year | 2036 | |
Latest Tax Year [Member] | ||
Operating loss expiration year | 2038 |
Income Taxes- Schedule of Defer
Income Taxes- Schedule of Deferred Tax Assets and Reconciliation of Income Taxes (Details) (10-K) - USD ($) $ in Thousands | 12 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforward | $ (880,525) | $ (860,110) |
Effective tax rate | 21.00% | 21.00% |
Deferred tax asset | $ (184,910) | $ (1,806,236) |
Less: Valuation allowance | 184,910 | 180,623 |
Net deferred asset |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - Subsequent Event [Member] | Dec. 01, 2020USD ($)shares |
Common Stock [Member] | |
Shares issued upon conversion | 1,000,000 |
Securities Purchase Agreement [Member] | |
Common stock issued and outstanding percentage | 70.00% |
Securities Purchase Agreement [Member] | Series A Preferred Stock [Member] | |
Number of shares purchased | 1,000 |
Value of shares purchased | $ | $ 135,000 |
Number of shares converted | 1,000 |
Securities Purchase Agreement [Member] | ABRAR Investments Pty Ltd [Member] | |
Number of shares purchased | 250,000,000 |
Subsequent Events (Details Na_2
Subsequent Events (Details Narrative) (10-K) - USD ($) | Dec. 01, 2020 | Aug. 10, 2020 | Oct. 31, 2020 | Sep. 24, 2020 | Jul. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 |
Stock issued during the period services, value | $ 115,000 | ||||||
Due to related party | $ 22,155 | $ 3,500 | $ 18,655 | $ 18,655 | |||
Common Stock [Member] | |||||||
Stock issued during the period services | 250,000,000 | ||||||
Stock issued during the period services, value | $ 250,000 | ||||||
Subsequent Event [Member] | Common Stock [Member] | |||||||
Shares issued upon conversion | 1,000,000 | ||||||
Subsequent Event [Member] | Securities Purchase Agreement [Member] | |||||||
Common stock issued and outstanding percentage | 70.00% | ||||||
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Series A Preferred Stock [Member] | |||||||
Number of shares purchased | 1,000 | ||||||
Value of shares purchased | $ 135,000 | ||||||
Number of shares converted | 1,000 | ||||||
Subsequent Event [Member] | Securities Purchase Agreement [Member] | ABRAR Investments Pty Ltd [Member] | |||||||
Number of shares purchased | 250,000,000 | ||||||
Barbara McIntyre Bauman [Member] | |||||||
Stock issued during the period services | 250,000,000 | 250,000,000 | |||||
Stock issued during the period services, value | $ 135,000 | $ 135,000 |