Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jan. 31, 2019 | Mar. 15, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | BLUE EAGLE LITHIUM INC. | |
Entity Central Index Key | 0001557668 | |
Document Type | 10-Q | |
Document Period End Date | Jan. 31, 2019 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --04-30 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business Flag | true | |
Entity Emerging Growth Company | false | |
Entity Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 76,183,855 | |
Trading Symbol | BEAG | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 |
Condensed Interim Balance Sheet
Condensed Interim Balance Sheets - USD ($) | Jan. 31, 2019 | Apr. 30, 2018 |
Current Assets | ||
Cash | $ 165 | $ 9,785 |
Prepaids | 10,333 | 5,833 |
Total Current Assets | 10,498 | 15,618 |
Equipment, net (Note 4) | 2,150 | |
Intangible Assets, net (Note 5) | 6,121 | |
Mineral Properties (Note 9) | 553,000 | |
TOTAL ASSETS | 571,769 | 15,618 |
Current Liabilities | ||
Accounts payable & Accrued interest (Note 6) | 124,017 | 59,610 |
Convertible loan payable (Note 7) | 50,000 | 50,000 |
Loans payable (Note 7) | 152,800 | 101,300 |
TOTAL CURRENT LIABILITIES | 326,817 | 210,910 |
Commitments and Contingencies | ||
STOCKHOLDER'S EQUITY | ||
Capital stock authorized: 200,000,000 common shares with a par value $0.0001 Issued and outstanding: 76,183,855 common shares (Note 8) (75,000,000 common shares at April 30, 2018) | 7,618 | 7,500 |
Additional paid-in capital | 952,107 | 14,500 |
Accumulated deficit | (714,773) | (217,292) |
TOTAL STOCKHOLDER'S EQUITY | 244,952 | (195,292) |
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY | $ 571,769 | $ 15,618 |
Condensed Interim Balance She_2
Condensed Interim Balance Sheets (Parenthetical) - $ / shares | Jan. 31, 2019 | May 10, 2018 | Apr. 30, 2018 |
Statement of Financial Position [Abstract] | |||
Common stock, shares authorized | 200,000,000 | 200,000,000 | |
Common stock, par value | $ 0.0001 | $ 0.001 | $ 0.0001 |
Common stock, shares issued | 76,183,855 | 3,750,000 | 75,000,000 |
Common stock, shares outstanding | 76,183,855 | 3,750,000 | 75,000,000 |
Condensed Interim Income Statem
Condensed Interim Income Statements (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2019 | Jan. 31, 2018 | |
OPERATING EXPENSES | ||||
Amortization | $ 592 | $ 987 | ||
Consulting fees | 76,250 | |||
Management fees | 33,600 | 182,550 | ||
Rent | 516 | 1,047 | ||
General & administrative expenses | 12,436 | 4,500 | 36,957 | 8,564 |
Marketing and promotional expenses | 2,654 | 81,527 | ||
Mineral exploration expenses | 34,742 | 67,242 | ||
Professional fees | 16,450 | 2,175 | 36,762 | 8,225 |
TOTAL EXPENSES | 100,990 | 6,675 | 483,332 | 16,789 |
OPERATING LOSS | (100,990) | (6,675) | (483,332) | (16,789) |
OTHER EXPENSES | ||||
Interest on loans | 5,081 | 4,064 | 14,159 | 10,122 |
NET INCOME/(LOSS) | $ (106,071) | $ (10,739) | $ (497,481) | $ (26,911) |
Net loss per share, basic and diluted | $ (0.0014) | $ (0.0001) | $ (0.007) | $ (0.0004) |
Weighted average common shares outstanding basic and diluted | 75,166,537 | 75,000,000 | 75,673,607 | 75,000,000 |
Condensed Interim Statements of
Condensed Interim Statements of Changes in Stockholder's Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Apr. 30, 2017 | $ 7,500 | $ 14,500 | $ (170,502) | $ (148,502) |
Balance, shares at Apr. 30, 2017 | 75,000,000 | |||
Net income/loss | (7,914) | (7,914) | ||
Balance at Jul. 31, 2017 | $ 7,500 | 14,500 | (178,416) | (156,416) |
Balance, shares at Jul. 31, 2017 | 75,000,000 | |||
Balance at Apr. 30, 2017 | $ 7,500 | 14,500 | (170,502) | (148,502) |
Balance, shares at Apr. 30, 2017 | 75,000,000 | |||
Net income/loss | (26,911) | |||
Balance at Jan. 31, 2018 | $ 7,500 | 14,500 | (197,413) | (175,413) |
Balance, shares at Jan. 31, 2018 | 75,000,000 | |||
Balance at Jul. 31, 2017 | $ 7,500 | 14,500 | (178,416) | (156,416) |
Balance, shares at Jul. 31, 2017 | 75,000,000 | |||
Net income/loss | (8,258) | (8,258) | ||
Balance at Oct. 31, 2017 | $ 7,500 | 14,500 | (186,674) | (164,674) |
Balance, shares at Oct. 31, 2017 | 75,000,000 | |||
Net income/loss | (10,739) | (10,739) | ||
Balance at Jan. 31, 2018 | $ 7,500 | 14,500 | (197,413) | (175,413) |
Balance, shares at Jan. 31, 2018 | 75,000,000 | |||
Balance at Apr. 30, 2018 | $ 7,500 | 14,500 | (217,292) | (195,292) |
Balance, shares at Apr. 30, 2018 | 75,000,000 | |||
Net income/loss | (14,189) | (14,189) | ||
Balance at Jul. 31, 2018 | $ 7,500 | 14,500 | (231,481) | (209,481) |
Balance, shares at Jul. 31, 2018 | 75,000,000 | |||
Balance at Apr. 30, 2018 | $ 7,500 | 14,500 | (217,292) | (195,292) |
Balance, shares at Apr. 30, 2018 | 75,000,000 | |||
Net income/loss | (497,481) | |||
Balance at Jan. 31, 2019 | $ 7,618 | 952,107 | (714,773) | 244,952 |
Balance, shares at Jan. 31, 2019 | 76,183,855 | |||
Balance at Jul. 31, 2018 | $ 7,500 | 14,500 | (231,481) | (209,481) |
Balance, shares at Jul. 31, 2018 | 75,000,000 | |||
Shares issued at $0.75 per share for assets | $ 50 | 374,950 | 375,000 | |
Shares issued at $0.75 per share for assets, shares | 500,000 | |||
Shares issued at $0.75 per share for assets | $ 10 | 74,990 | 75,000 | |
Shares issued at $0.75 per share for assets, shares | 100,000 | |||
Shares issued at $0.95 per share for services | $ 3 | 28,497 | 28,500 | |
Shares issued at $0.95 per share for services, shares | 30,000 | |||
Shares issued at $0.60 per share | $ 8 | 49,992 | 50,000 | |
Shares issued at $0.60 per share, shares | 83,333 | |||
Shares issued at $0.6375 per share | $ 16 | 99,984 | 100,000 | |
Shares issued at $0.6375 per share, shares | 156,862 | |||
Shares issued at $0.95 per share for services | $ 13 | 118,737 | 118,750 | |
Shares issued at $0.95 per share for services, shares | 125,000 | |||
Shares issued at $0.95 per share for services | $ 5 | 47,495 | 47,500 | |
Shares issued at $0.95 per share for services, shares | 50,000 | |||
Net income/loss | (377,221) | (377,221) | ||
Balance at Oct. 31, 2018 | $ 7,605 | 809,145 | (608,702) | 208,048 |
Balance, shares at Oct. 31, 2018 | 76,045,195 | |||
Shares issued at $1.034 per share | $ 3 | 39,972 | 39,975 | |
Shares issued at $1.034 per share, shares | 38,660 | |||
Shares issued at $1.03 per share for assets | $ 10 | 102,990 | 103,000 | |
Shares issued at $1.03 per share for assets, shares | 100,000 | |||
Net income/loss | (106,071) | (106,071) | ||
Balance at Jan. 31, 2019 | $ 7,618 | $ 952,107 | $ (714,773) | $ 244,952 |
Balance, shares at Jan. 31, 2019 | 76,183,855 |
Condensed Interim Statements _2
Condensed Interim Statements of Changes in Stockholder's Equity (Unaudited) (Parenthetical) - $ / shares | Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2017 |
Common stock, shares authorized | 200,000,000 | |||||
Common Stock [Member] | ||||||
Common stock, shares authorized | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 |
Common Stock One [Member] | ||||||
Shares issued price per share | $ 1.034 | $ 0.75 | ||||
Common Stock Two [Member] | ||||||
Shares issued price per share | $ 1.03 | 0.75 | ||||
Common Stock Three [Member] | ||||||
Shares issued price per share | 0.95 | |||||
Common Stock Four [Member] | ||||||
Shares issued price per share | 0.60 | |||||
Common Stock Five [Member] | ||||||
Shares issued price per share | 0.6375 | |||||
Common Stock Six [Member] | ||||||
Shares issued price per share | 0.95 | |||||
Common Stock Seven [Member] | ||||||
Shares issued price per share | $ 0.95 |
Condensed Interim Statements _3
Condensed Interim Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Cash Flows from Operating Activities | ||
Net income/(loss) | $ (497,481) | $ (26,911) |
Amortization | 987 | 139 |
Shares issued for services | 194,750 | |
Changes in current assets and liabilities: | ||
Prepaids | (4,500) | (8,733) |
Accounts payable & accrued interest | 64,407 | (4,519) |
Net cash used in operating activities | (241,837) | (40,024) |
Cash Flows from Investing Activities | ||
Intangible Assets | (9,258) | (5,000) |
Net cash provided by investing activities | (9,258) | (5,000) |
Cash Flows from Financing Activities | ||
Proceeds from loans payable | 51,500 | 6,961 |
Proceeds from convertible loans payable | 50,000 | |
Proceeds from issuance of common stock | 189,975 | |
Net cash provided by financing activities | 241,475 | 56,961 |
Net increase(decrease) in cash | (9,620) | 11,937 |
Cash and cash equivalents, beginning of period | 9,785 | 583 |
Cash and cash equivalents, end of period | 165 | 12,520 |
Supplemental Disclosure | ||
Interest paid | ||
Taxes paid | ||
Non-cash Financing and Investing Activities | ||
Common stock issued for assets | $ 553,000 |
Nature and Continuance of Opera
Nature and Continuance of Operations | 9 Months Ended |
Jan. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature and Continuance of Operations | Note 1 Nature and Continuance of Operations Blue Eagle Lithium Inc. (the “Company”) was incorporated in the State of Nevada on July 30, 2009. The Company is engaged in identifying, evaluating and developing early-stage lithium exploration opportunities and has not realized any revenues from its planned operations. Previously, the Company was engaged in the business of developing, manufacturing, marketing and selling dog waste removal devices. On May 10, 2018, a majority of the Company’s stockholders approved a share split of the issued and outstanding shares of common stock, on a 20-for-1 basis, thereby increasing the issued and outstanding share capital from 3,750,000 to 75,000,000. On July 12, 2018 the Company effectively changed its name from Wishbone Pet Products Inc. to Blue Eagle Lithium Inc. These financial statements give retroactive effect to both these changes. The Company’s fiscal year ends on April 30. |
Basis of Presentation - Going C
Basis of Presentation - Going Concern Uncertainties | 9 Months Ended |
Jan. 31, 2019 | |
Basis Of Presentation - Going Concern Uncertainties | |
Basis of Presentation - Going Concern Uncertainties | Note 2 Basis of Presentation – Going Concern Uncertainties These financial statements have been prepared in conformity with generally accepted accounting principles in the United States, which contemplate continuation of the Company as a going concern. The Company is at its early stages of development and has limited operations and has sustained operating losses resulting in a deficit. The Company has accumulated a deficit of $714,773 since inception, has yet to achieve revenue producing or profitable operations, and further significant losses are anticipated in the development of its business. The Company’s ability to continue as a going concern is in substantial doubt and is dependent upon obtaining financing and/or generating revenue and achieving a sustainable profitable level of operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company will need seek additional equity financing from time to time in order to fund its business plan, and it plans to raise funds through private or public equity financings or loans from directors of the Company in order to support existing operations. There is no assurance that such additional funds will be available for the Company on acceptable terms, if at all. |
Interim Reporting and Significa
Interim Reporting and Significant Accounting Policies | 9 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Interim Reporting and Significant Accounting Policies | Note 3 Interim Reporting and Significant Accounting Policies The condensed interim financial statements are prepared under the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for the interim information. Accordingly, the financial statements do not include all of the information and notes required by GAAP for the complete financial statements. While the information presented is unaudited, it includes all adjustments, which are, in the opinion of management, necessary to present fairly the financial position, result of operation and cash flows for the interim periods presented in accordance with accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature. It is suggested that the interim financial statements be read in conjunction with the Company’s April 30, 2018 annual financial statements. Operating results for the nine months period ended January 31, 2019 are not necessarily indicative of the results that can be expected for the year ended April 30, 2019. There have been no changes in the accounting policies from those disclosed in the notes to the audited financial statements for the year ended April 30, 2018. Convertible debt The Company accounts for convertible debt according to ASC 470, “Debt with Conversion and Other Options”. No portion of the proceeds is attributable to the conversion feature when there is no beneficial conversion feature (“BCF”), there is no BCF when the debt instrument is convertible into common stock at a specified price at the option of the holder and when the debt instrument is issued at a price not significantly in excess of the face amount. Website Development Costs The Company recognizes the costs associated with developing a website in accordance with ASC 350-50 “Website Development Cost” that codified the American Institute of Certified Public Accountants (“AICPA”) Statement of Position (“SOP”) NO. 98-1, “Accounting for the Costs of Computer Software Developed or Obtained for Internal Use”. Relating to website development costs the Company follows the guidance pursuant to the Emerging Issues Task Force (EITF) NO. 00-2, “Accounting for Website Development Costs”. The website development costs are divided into three stages, planning, development and production. The development stage can further be classified as application and infrastructure development, graphics development and content development. In short, website development cost for internal use should be capitalized except content input and data conversion costs in content development stage. Amortization is based on estimated useful life on a straight-line basis. Mineral Properties The Company expenses mineral property exploration expenditures when incurred. When it has established that a mineral deposit is commercially mineable and following a decision to commence development, the costs subsequently incurred to develop a mine on the property prior to the start of mining operations are capitalized and will be amortized against production following commencement of commercial production, or written off if the property is sold, allowed to lapse or abandoned. Mineral property acquisition costs are initially capitalized when incurred. Option payments and expenditures required to earn an interest in the properties are initially expensed and then capitalized if the option is exercised. The Company assesses the carrying costs for impairment. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral property over its estimated fair value. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations. Equipment The cost of equipment is capitalized and depreciated over its estimated useful life of 3 years on a straight-line basis. Recently issued accounting pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any pronouncement not yet effective but recently issued by the FASB (including its Emerging Issues Task Force), the AICPA or the SEC would, if adopted, have a material effect on the accompanying financial statements |
Equipment
Equipment | 9 Months Ended |
Jan. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Equipment | Note 4 Equipment Equipment is amortized over 3 years on a straight-line basis. January 31, 2019 Cost Accumulated Amortization Net Equipment $ 2,150 $ - $ 2,150 |
Intangible Assets
Intangible Assets | 9 Months Ended |
Jan. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 5 Intangible Assets The assets are amortized over 3 years on a straight-line basis. January 31, 2019 Cost Accumulated Amortization Net Website $ 7,108 $ (987 ) $ 6,121 |
Accounts Payable & Accrued Inte
Accounts Payable & Accrued Interest | 9 Months Ended |
Jan. 31, 2019 | |
Payables and Accruals [Abstract] | |
Accounts Payable & Accrued Interest | Note 6 Accounts Payable & Accrued Interest Accrued expenses as of January 31, 2019 and April 30, 2018 are summarized as follows: Jan 31, 2019 Apr 30, 2018 Amount owing to officers $ 32,205 $ - Accrued accounting fees 10,275 7,650 Accrued legal fees 16,913 2,650 Accrued office expenses 10,086 8,930 Accrued interest expenses 54,538 40,380 $ 124,017 $ 59,610 |
Notes Payable
Notes Payable | 9 Months Ended |
Jan. 31, 2019 | |
Debt Disclosure [Abstract] | |
Notes Payable | Note 7 Notes Payable The Company entered into 11 unsecured notes payable. They are all due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). The Company partially repaid one note and accrued interest totaling $2,000 on March 1, 2018. The following were the principal loan amounts and accrued interests remaining as at October 31, 2018 and April 30, 2018: Jan 31 2019 April 30, 2018 Principal Interest Principal Interest Amount Accrued Total Amount Accrued Total Dec 31 12 17,000 12,410 29,410 Dec 31 12 17,000 10,880 27,880 Aug 13 13 20,000 13,100 33,100 Aug 13 13 20,000 11,300 31,300 Dec 04 14 11,000 5,488 16,488 Dec 04 14 11,000 4,498 15,498 Jun 26 15 10,000 4,317 14,317 Jun 26 15 10,000 3,417 13,417 Jan 25 16 3,671 367 4,038 Jan 25 16 3,671 36 3,707 Mar 22 16 17,725 6,115 23,840 Mar 22 16 17,725 4,520 22,245 Jul 28 16 2,700 810 3,510 Jul 28 16 2,700 567 3,267 Oct 31 16 5,161 1,393 6,554 Oct 31 16 5,161 929 6,090 Jan 31 17 3,902 936 4,838 Jan 31 17 3,902 585 4,487 Apr 28 17 3,181 668 3,849 Apr 28 17 3,181 382 3,563 Jun 03 17 6,961 1,392 8,353 Jun 03 17 6,961 766 7,726 $ 101,300 $ 46,997 $ 148,297 $ 101,300 $ 37,880 $ 139,180 The Company entered into one unsecured note payable that is due November 1, 2019 with an interest of 12% per annum. The following was the principal amount and the accrued interests remaining at January 31, 2019. Amount Interest Total Nov 01 18 $ 12,500 $ 378 $ 12,878 The Company entered into one unsecured note payable that is due on December 7, 2019 with an interest of 3% per annum. The following was the principal amount and the accrued interests remaining at January 31, 2019. Amount Interest Total Dec 12 18 $ 39,000 $ 163 $ 39,163 The Company entered into one unsecured convertible note payable on December 4, 2017. The note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). At any time prior to repayment, the holder may convert all or part of the principal loan into common stock of the Company at a conversion price of $1.00 of debt to 1 common share. The effect that conversion would have on earnings per share has not been disclosed due to the current anti-dilutive effect. The conversion rate of $1.00 creates a zero conversion benefit at current stock prices at that time. Therefore, no beneficial conversion feature has been recorded. January 31, 2019 April 30, 2018 Principal Interest Principal Interest Amount Accrued Total Amount Accrued Total Dec 04 17 50,000 7,000 57,000 Dec 04 17 50,000 2,500 52,500 |
Common Shares
Common Shares | 9 Months Ended |
Jan. 31, 2019 | |
Equity [Abstract] | |
Common Shares | Note 8 Common Shares On May 10, 2018, the Company effected a forward stock split on a 20 to 1 basis, thereby increasing the issued and outstanding share capital from 3,750,000 common shares to 75,000,000 common shares. The common stock par value was changed from $0.001 to $0.0001. These financial statements presented provide the retroactive effect to the changes. On August 15, 2018, the Company issued 600,000 common shares at $0.75 per share for the purchase of the mineral properties. The share price was issued at market. On August 17, 2018, the Company issued 83,333 common shares for cash at $0.60 per share to an investor. The share price was negotiated with a 20% discount when the market was at $0.75 per share. On August 17, 2018, the Company issued 30,000 common shares at $0.95 per share for consulting services. The share price was issued at market. On August 20, 2018, the Company issued 156,862 common shares for cash at $0.6375 per share to an investor. The share price was negotiated with a 15% discount when the market was at $0.75 per share. On August 20, 2018, the Company issued 125,000 common shares at $0.95 per share to its Chief Operating Officer. The share price was issued at market On August 20, 2018, the Company issued 50,000 common shares at $0.95 per share for board advisory services. The share price was issued at market. On November 1, 2018, the Company issued 38,660 common shares for cash at $1.034 per share to a shareholder. The share price was negotiated with a 15% discount from the previous 10 days closing average price of $1.2175 per share. On November 14, 2018, the Company issued 100,000 common shares at $1.03 per share for the purchase of the mineral properties. The share price was issued at market. At January 31, 2019, the Company had 76,183,855 common shares outstanding (75,000,000 common shares at April 30, 2018). There were no warrants or stock options outstanding as of January 31, 2019 and April 30, 2018. |
Mineral Properties
Mineral Properties | 9 Months Ended |
Jan. 31, 2019 | |
Extractive Industries [Abstract] | |
Mineral Properties | Note 9 Mineral Properties On August 9, 2018, the Company entered into a property lease assignment agreement with a third party (the “Assignor”) to purchase 200 mineral claims totaling 4,000 acres located in the State of Nevada known as the Railroad Valley, in Nye County. The Company agreed to assume all the rights, titles and interest in the lease in exchange for issuing to the Assignor 500,000 common shares and to the lessor of the property (the “Lessor”) 300,000 common shares as follows (see Note 7): To the Assignor – 500,000 common shares upon completion of the agreement (issued) To the Lessor – 100,000 common shares upon completion of the agreement (issued); and – 100,000 common shares within 90 days upon completion of the agreement (issued); and – 100,000 common shares within 180 days upon completion of the agreement (to be issued) In addition, the Company further acknowledged and agreed that the Lessor shall reserve onto itself a royalty on revenues derived from the sale of lithium concentrate and other ores extracted from the property. The Lessor shall have the right to buy 1% of the royalty at any time for $2,000,000 from the Company. Such cash payment will be paid in 90 days intervals, upon completion of an inferred resource calculation that confirms the presence on the property of a minimum 500,000 tons of lithium carbonate equivalent grading no lower than a 40 parts per million lithium grade average. |
Commitments
Commitments | 9 Months Ended |
Jan. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | Note 10 Commitments Effective August 15, 2018, the Company entered into a consulting agreement with John P Hart for a period of one year. Upon signing, the Company issued 30,000 common shares valued at $28,500. (see Note 8). Effective August 20, 2018, the Company entered into an annual consulting agreement with Peter R Murray, the Company’s Chief Operating Officer and director. The agreement requires the Company to pay Mr. Murray a monthly consulting fee of $3,000 and a stock remuneration of up to 500,000 common shares as follows (see Note 8): 125,000 common shares effective immediately (issued) 125,000 common shares in the event the agreement is first renewed on the first anniversary date 125,000 common shares in the event the agreement is renewed on the second anniversary date 125,000 common shares in the event the agreement is renewed on the third anniversary date On August 20, 2018, the Company entered into an annual consulting agreement with Robert FE Jones as a board advisor. The agreement requires the Company to pay Mr. Jones a daily rate of $350 and a stock remuneration of up to 200,000 common shares as follows (see Note 8): 50,000 common shares effective immediately (issued) 50,000 common shares in the event the agreement is first renewed on the first anniversary date 50,000 common shares in the event the agreement is renewed on the second anniversary date 50,000 common shares in the event the agreement is renewed on the third anniversary date |
Subsequent Events
Subsequent Events | 9 Months Ended |
Jan. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 11 Subsequent Events The Company evaluated all events and transactions that occurred after January 31, 2019 up through the date the Company issued these financial statements and found no other subsequent events that needed to be reported. |
Interim Reporting and Signifi_2
Interim Reporting and Significant Accounting Policies (Policies) | 9 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Convertible Debt | Convertible debt The Company accounts for convertible debt according to ASC 470, “Debt with Conversion and Other Options”. No portion of the proceeds is attributable to the conversion feature when there is no beneficial conversion feature (“BCF”), there is no BCF when the debt instrument is convertible into common stock at a specified price at the option of the holder and when the debt instrument is issued at a price not significantly in excess of the face amount. |
Website Development Costs | Website Development Costs The Company recognizes the costs associated with developing a website in accordance with ASC 350-50 “Website Development Cost” that codified the American Institute of Certified Public Accountants (“AICPA”) Statement of Position (“SOP”) NO. 98-1, “Accounting for the Costs of Computer Software Developed or Obtained for Internal Use”. Relating to website development costs the Company follows the guidance pursuant to the Emerging Issues Task Force (EITF) NO. 00-2, “Accounting for Website Development Costs”. The website development costs are divided into three stages, planning, development and production. The development stage can further be classified as application and infrastructure development, graphics development and content development. In short, website development cost for internal use should be capitalized except content input and data conversion costs in content development stage. Amortization is based on estimated useful life on a straight-line basis. |
Mineral Properties | Mineral Properties The Company expenses mineral property exploration expenditures when incurred. When it has established that a mineral deposit is commercially mineable and following a decision to commence development, the costs subsequently incurred to develop a mine on the property prior to the start of mining operations are capitalized and will be amortized against production following commencement of commercial production, or written off if the property is sold, allowed to lapse or abandoned. Mineral property acquisition costs are initially capitalized when incurred. Option payments and expenditures required to earn an interest in the properties are initially expensed and then capitalized if the option is exercised. The Company assesses the carrying costs for impairment. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral property over its estimated fair value. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations. |
Equipment | Equipment The cost of equipment is capitalized and depreciated over its estimated useful life of 3 years on a straight-line basis. |
Recently Issued Accounting Pronouncements | Recently issued accounting pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. Management does not believe that any pronouncement not yet effective but recently issued by the FASB (including its Emerging Issues Task Force), the AICPA or the SEC would, if adopted, have a material effect on the accompanying financial statement |
Equipment (Tables)
Equipment (Tables) | 9 Months Ended |
Jan. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Equipment | Equipment is amortized over 3 years on a straight-line basis. January 31, 2019 Cost Accumulated Amortization Net Equipment $ 2,150 $ - $ 2,150 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 9 Months Ended |
Jan. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets | The assets are amortized over 3 years on a straight-line basis. January 31, 2019 Cost Accumulated Amortization Net Website $ 7,108 $ (987 ) $ 6,121 |
Accounts Payable & Accrued In_2
Accounts Payable & Accrued Interest (Tables) | 9 Months Ended |
Jan. 31, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Interest | Accrued expenses as of January 31, 2019 and April 30, 2018 are summarized as follows: Jan 31, 2019 Apr 30, 2018 Amount owing to officers $ 32,205 $ - Accrued accounting fees 10,275 7,650 Accrued legal fees 16,913 2,650 Accrued office expenses 10,086 8,930 Accrued interest expenses 54,538 40,380 $ 124,017 $ 59,610 |
Notes Payable (Tables)
Notes Payable (Tables) | 9 Months Ended |
Jan. 31, 2019 | |
Schedule of Note Payable | The following were the principal loan amounts and accrued interests remaining as at October 31, 2018 and April 30, 2018: Jan 31 2019 April 30, 2018 Principal Interest Principal Interest Amount Accrued Total Amount Accrued Total Dec 31 12 17,000 12,410 29,410 Dec 31 12 17,000 10,880 27,880 Aug 13 13 20,000 13,100 33,100 Aug 13 13 20,000 11,300 31,300 Dec 04 14 11,000 5,488 16,488 Dec 04 14 11,000 4,498 15,498 Jun 26 15 10,000 4,317 14,317 Jun 26 15 10,000 3,417 13,417 Jan 25 16 3,671 367 4,038 Jan 25 16 3,671 36 3,707 Mar 22 16 17,725 6,115 23,840 Mar 22 16 17,725 4,520 22,245 Jul 28 16 2,700 810 3,510 Jul 28 16 2,700 567 3,267 Oct 31 16 5,161 1,393 6,554 Oct 31 16 5,161 929 6,090 Jan 31 17 3,902 936 4,838 Jan 31 17 3,902 585 4,487 Apr 28 17 3,181 668 3,849 Apr 28 17 3,181 382 3,563 Jun 03 17 6,961 1,392 8,353 Jun 03 17 6,961 766 7,726 $ 101,300 $ 46,997 $ 148,297 $ 101,300 $ 37,880 $ 139,180 |
One Unsecured Notes Payable [Member] | |
Schedule of Note Payable | The following was the principal amount and the accrued interests remaining at January 31, 2019. Amount Interest Total Nov 01 18 $ 12,500 $ 378 $ 12,878 The following was the principal amount and the accrued interests remaining at January 31, 2019. Amount Interest Total Dec 12 18 $ 39,000 $ 163 $ 39,163 |
One Unsecured Convertible Notes Payable [Member] | |
Schedule of Note Payable | January 31, 2019 April 30, 2018 Principal Interest Principal Interest Amount Accrued Total Amount Accrued Total Dec 04 17 50,000 7,000 57,000 Dec 04 17 50,000 2,500 52,500 |
Nature and Continuance of Ope_2
Nature and Continuance of Operations (Details Narrative) - shares | May 10, 2018 | May 10, 2018 | Jan. 31, 2019 | Apr. 30, 2018 |
Common stock, shares issued | 3,750,000 | 3,750,000 | 76,183,855 | 75,000,000 |
Common stock, shares outstanding | 3,750,000 | 3,750,000 | 76,183,855 | 75,000,000 |
Forward Stock Split [Member] | ||||
Stockholders share split description | The Company effected a forward stock split on a 20 to 1 basis, thereby increasing the issued and outstanding share capital from 3,750,000 common shares to 75,000,000 common shares. | A majority of the Company's stockholders approved a share split of the issued and outstanding shares of common stock, on a 20-for-1 basis, thereby increasing the issued and outstanding share capital from 3,750,000 to 75,000,000. |
Basis of Presentation - Going_2
Basis of Presentation - Going Concern Uncertainties (Details Narrative) - USD ($) | Jan. 31, 2019 | Apr. 30, 2018 |
Basis Of Presentation - Going Concern Uncertainties | ||
Accumulated deficit | $ 714,773 | $ 217,292 |
Interim Reporting and Signifi_3
Interim Reporting and Significant Accounting Policies (Details Narrative) | 9 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Estimated useful life for equipment | 3 years |
Equipment - Schedule of Equipme
Equipment - Schedule of Equipment (Details) - USD ($) | Jan. 31, 2019 | Apr. 30, 2018 |
Property, Plant and Equipment [Abstract] | ||
Equipment Cost | $ 2,150 | |
Equipment Accumulated Amortization | ||
Equipment Net | $ 2,150 |
Equipment - Schedule of Equip_2
Equipment - Schedule of Equipment (Details) (Parenthetical) | 9 Months Ended |
Jan. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Estimated useful life for equipment | 3 years |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) | Jan. 31, 2019 | Apr. 30, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Website Cost | $ 7,108 | |
Website Accumulated Amortization | (987) | |
Website Net | $ 6,121 |
Intangible Assets - Schedule _2
Intangible Assets - Schedule of Intangible Assets (Details) (Parenthetical) | 9 Months Ended |
Jan. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Estimated useful life of assets | 3 years |
Accounts Payable & Accrued In_3
Accounts Payable & Accrued Interest - Schedule of Accounts Payable and Accrued Interest (Details) - USD ($) | Jan. 31, 2019 | Apr. 30, 2018 |
Payables and Accruals [Abstract] | ||
Amount owing to officers | $ 32,205 | |
Accrued accounting fees | 10,275 | 7,650 |
Accrued legal fees | 16,913 | 2,650 |
Accrued office expenses | 10,086 | 8,930 |
Accrued interest expenses | 54,538 | 40,380 |
Accounts payable & Accrued interest | $ 124,017 | $ 59,610 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | 9 Months Ended | ||
Jan. 31, 2019 | Apr. 30, 2018 | Mar. 01, 2018 | |
Accrued interest | $ 46,997 | $ 37,880 | |
Eleven Unsecured Convertible Notes Payable [Member] | |||
Note due period | 30 days | ||
Notes payable interest rate per month | 1.00% | ||
Notes payable interest rate per annum | 12.00% | ||
Accrued interest | $ 2,000 | ||
One Unsecured Notes Payable [Member] | November 1, 2019 [Member] | |||
Notes payable interest rate per annum | 12.00% | ||
Note due date | Nov. 1, 2019 | ||
One Unsecured Notes Payable [Member] | December 7, 2019 [Member] | |||
Notes payable interest rate per annum | 3.00% | ||
Note due date | Dec. 7, 2019 | ||
One Unsecured Convertible Notes Payable [Member] | |||
Note due period | 30 days | ||
Notes payable interest rate per month | 1.00% | ||
Notes payable interest rate per annum | 12.00% | ||
Principal loan converted into common stock, conversion price per share | $ 1 | ||
Conversion price description | At any time prior to repayment, the holder may convert all or part of the principal loan into common stock of the Company at a conversion price of $1.00 of debt to 1 common share. |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Note Payable (Details) - USD ($) | Jan. 31, 2019 | Apr. 30, 2018 |
Principal Amount | $ 101,300 | $ 101,300 |
Interest Accrued | 46,997 | 37,880 |
Total | 148,297 | 139,180 |
Note One [Member] | December 31, 2012 [Member] | ||
Principal Amount | 17,000 | 17,000 |
Interest Accrued | 12,410 | 10,880 |
Total | 29,410 | 27,880 |
Note Two [Member] | August 13, 2013 [Member] | ||
Principal Amount | 20,000 | 20,000 |
Interest Accrued | 13,100 | 11,300 |
Total | 33,100 | 31,300 |
Note Three [Member] | December 04, 2014 [Member] | ||
Principal Amount | 11,000 | 11,000 |
Interest Accrued | 5,488 | 4,498 |
Total | 16,488 | 15,498 |
Note Four [Member] | June 26, 2015 [Member] | ||
Principal Amount | 10,000 | 10,000 |
Interest Accrued | 4,317 | 3,417 |
Total | 14,317 | 13,417 |
Note Five [Member] | January 25, 2016 [Member] | ||
Principal Amount | 3,671 | 3,671 |
Interest Accrued | 367 | 36 |
Total | 4,038 | 3,707 |
Note Six [Member] | March 22, 2016 [Member] | ||
Principal Amount | 17,725 | 17,725 |
Interest Accrued | 6,115 | 4,520 |
Total | 23,840 | 22,245 |
Note Seven [Member] | July 28, 2016 [Member] | ||
Principal Amount | 2,700 | 2,700 |
Interest Accrued | 810 | 567 |
Total | 3,510 | 3,267 |
Note Eight [Member] | October 31, 2016 [Member] | ||
Principal Amount | 5,161 | 5,161 |
Interest Accrued | 1,393 | 929 |
Total | 6,554 | 6,090 |
Note Nine [Member] | January 31, 2017 [Member] | ||
Principal Amount | 3,902 | 3,902 |
Interest Accrued | 936 | 585 |
Total | 4,838 | 4,487 |
Note Ten [Member] | April 28, 2017 [Member] | ||
Principal Amount | 3,181 | 3,181 |
Interest Accrued | 668 | 382 |
Total | 3,849 | 3,563 |
Note Eleven [Member] | June 03, 2017 [Member] | ||
Principal Amount | 6,961 | 6,961 |
Interest Accrued | 1,392 | 766 |
Total | 8,353 | 7,726 |
One Unsecured Notes Payable [Member] | November 01, 2018 [Member] | ||
Principal Amount | 12,500 | |
Interest Accrued | 378 | |
Total | 12,878 | |
One Unsecured Notes Payable [Member] | December 12, 2018 [Member] | ||
Principal Amount | 39,000 | |
Interest Accrued | 163 | |
Total | 39,163 | |
One Unsecured Convertible Notes Payable [Member] | December 04, 2017 [Member] | ||
Principal Amount | 50,000 | 50,000 |
Interest Accrued | 7,000 | 2,500 |
Total | $ 57,000 | $ 52,500 |
Common Shares (Details Narrativ
Common Shares (Details Narrative) - USD ($) | Nov. 14, 2018 | Nov. 02, 2018 | Aug. 20, 2018 | Aug. 17, 2018 | Aug. 15, 2018 | May 10, 2018 | May 10, 2018 | Jan. 31, 2019 | Apr. 30, 2018 |
Common stock, shares issued | 3,750,000 | 3,750,000 | 76,183,855 | 75,000,000 | |||||
Common stock, shares outstanding | 3,750,000 | 3,750,000 | 76,183,855 | 75,000,000 | |||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.0001 | $ 0.0001 | |||||
Warrants outstanding | |||||||||
Stock options outstanding | |||||||||
Consulting Services [Member] | |||||||||
Common shares issued, price per share | $ 0.95 | ||||||||
Number of common stock shares issued during the period for services | 30,000 | ||||||||
Advisory Services [Member] | |||||||||
Common shares issued, price per share | $ 0.95 | ||||||||
Number of common stock shares issued during the period for services | 50,000 | ||||||||
Investor [Member] | |||||||||
Number of common stock shares issued during the period | 156,862 | 83,333 | |||||||
Common shares issued, price per share | $ 0.6375 | $ 0.60 | |||||||
Common stock price negotiated, description | The share price was negotiated with a 15% discount when the market was at $0.75 per share. | The share price was negotiated with a 20% discount when the market was at $0.75 per share. | |||||||
Market price per shares | $ 0.75 | $ 0.75 | |||||||
Chief Operating Officer [Member] | |||||||||
Number of common stock shares issued during the period | 125,000 | ||||||||
Common shares issued, price per share | $ 0.95 | ||||||||
Shareholder [Member] | |||||||||
Number of common stock shares issued during the period | 38,660 | ||||||||
Common shares issued, price per share | $ 1.034 | ||||||||
Common stock price negotiated, description | The share price was negotiated with a 15% discount from the previous 10 days closing average price of $1.2175 per share. | ||||||||
Market price per shares | $ 1.2175 | ||||||||
Purchase of Mineral Properties [Member] | |||||||||
Number of common stock shares issued during the period | 100,000 | 600,000 | |||||||
Common shares issued, price per share | $ 1.03 | $ 0.75 | |||||||
Forward Stock Split [Member] | |||||||||
Stockholders share split description | The Company effected a forward stock split on a 20 to 1 basis, thereby increasing the issued and outstanding share capital from 3,750,000 common shares to 75,000,000 common shares. | A majority of the Company's stockholders approved a share split of the issued and outstanding shares of common stock, on a 20-for-1 basis, thereby increasing the issued and outstanding share capital from 3,750,000 to 75,000,000. |
Mineral Properties (Details Nar
Mineral Properties (Details Narrative) | Aug. 09, 2018USD ($)aMineralClaimsTonnesshares | Jan. 31, 2019shares | May 10, 2018shares | Apr. 30, 2018shares |
Number of shares issued | 76,183,855 | 3,750,000 | 75,000,000 | |
Property Lease Assignment Agreement [Member] | Assignor [Member] | ||||
Number of claims purchased | MineralClaims | 200 | |||
Area of land | a | 4,000 | |||
Number of shares issued | 500,000 | |||
Property Lease Assignment Agreement [Member] | Assignor [Member] | Upon Completion of Agreement [Member] | ||||
Number of shares issued | 500,000 | |||
Property Lease Assignment Agreement [Member] | Lessor [Member] | ||||
Number of shares issued | 300,000 | |||
Royalty percentage | 1.00% | |||
Royalty amount | $ | $ 2,000,000 | |||
Lithium carbonate tonnes | Tonnes | 500,000 | |||
Property Lease Assignment Agreement [Member] | Lessor [Member] | Upon Completion of Agreement [Member] | ||||
Number of shares issued | 100,000 | |||
Property Lease Assignment Agreement [Member] | Lessor [Member] | 90 Days Upon Completion of Agreement [Member] | ||||
Number of shares issued | 100,000 | |||
Property Lease Assignment Agreement [Member] | Lessor [Member] | 180 Days Upon Completion of Agreement [Member] | ||||
Number of shares issued | 100,000 |
Commitments (Details Narrative)
Commitments (Details Narrative) - USD ($) | Aug. 20, 2018 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2019 | Jan. 31, 2018 | Aug. 15, 2018 | May 10, 2018 | Apr. 30, 2018 |
Number of shares issued | 76,183,855 | 76,183,855 | 3,750,000 | 75,000,000 | ||||
Common stock issued, value | $ 7,618 | $ 7,618 | $ 7,500 | |||||
Monthly consulting fee | $ 16,450 | $ 2,175 | $ 36,762 | $ 8,225 | ||||
Consulting Agreement [Member] | John P Hart [Member] | ||||||||
Number of shares issued | 30,000 | |||||||
Common stock issued, value | $ 28,500 | |||||||
Annual Consulting Agreement [Member] | Peter R Murray [Member] | ||||||||
Monthly consulting fee | $ 3,000 | |||||||
Stock remuneration, shares | 500,000 | |||||||
Annual Consulting Agreement [Member] | Peter R Murray [Member] | First Anniversary Date [Member] | ||||||||
Stock remuneration, shares | 125,000 | |||||||
Annual Consulting Agreement [Member] | Peter R Murray [Member] | Second Anniversary Date [Member] | ||||||||
Stock remuneration, shares | 125,000 | |||||||
Annual Consulting Agreement [Member] | Peter R Murray [Member] | Third Anniversary Date [Member] | ||||||||
Stock remuneration, shares | 125,000 | |||||||
Annual Consulting Agreement [Member] | Peter R Murray [Member] | Tranche One [Member] | ||||||||
Stock remuneration, shares | 125,000 | |||||||
Annual Consulting Agreement [Member] | Robert FE Jones [Member] | ||||||||
Monthly consulting fee | $ 350 | |||||||
Stock remuneration, shares | 200,000 | |||||||
Annual Consulting Agreement [Member] | Robert FE Jones [Member] | First Anniversary Date [Member] | ||||||||
Stock remuneration, shares | 50,000 | |||||||
Annual Consulting Agreement [Member] | Robert FE Jones [Member] | Second Anniversary Date [Member] | ||||||||
Stock remuneration, shares | 50,000 | |||||||
Annual Consulting Agreement [Member] | Robert FE Jones [Member] | Third Anniversary Date [Member] | ||||||||
Stock remuneration, shares | 50,000 | |||||||
Annual Consulting Agreement [Member] | Robert FE Jones [Member] | Tranche One [Member] | ||||||||
Stock remuneration, shares | 50,000 |