Cover
Cover - shares | 3 Months Ended | |
Oct. 31, 2021 | Dec. 08, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Oct. 31, 2021 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --07-31 | |
Entity File Number | 333-184061 | |
Entity Registrant Name | TIANCI INTERNATIONAL, INC. | |
Entity Central Index Key | 0001557798 | |
Entity Tax Identification Number | 45-5540446 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | No. A1111, Huafeng Financial Port | |
Entity Address, Address Line Two | 1003 | |
Entity Address, Address Line Three | Xin’an Sixth Road | |
Entity Address, Address Line Four | Bao’an District | |
Entity Address, Address Line Five | Shenzhen | |
Entity Address, City or Town | Guangdong | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 00000 | |
City Area Code | 86 | |
Local Phone Number | 13926561348 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 2,450,148 |
CONDENSED BALANCE SHEETS (UNAUD
CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 |
Current Assets | ||
Cash | $ 0 | $ 3,951 |
Prepaid expenses | 10,500 | 14,000 |
Total Current Assets | 10,500 | 17,951 |
TOTAL ASSETS | 10,500 | 17,951 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 33,040 | 9,896 |
Due to related parties | 0 | 333,165 |
Total Current Liabilities | 33,040 | 343,061 |
Total Liabilities | 33,040 | 343,061 |
Commitments and Contingencies | 0 | 0 |
SHAREHOLDERS' DEFICIT | ||
Preferred stock, $0.0001 par value; 20,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock, $0.0001 par value, 100,000,000 shares authorized; 2,450,148 shares issued and outstanding | 245 | 245 |
Additional paid-in capital | 1,477,022 | 1,127,306 |
Accumulated deficit | (1,499,807) | (1,452,661) |
Total Shareholders' Deficit | (22,540) | (325,110) |
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | $ 10,500 | $ 17,951 |
CONDENSED BALANCE SHEETS (UNA_2
CONDENSED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Oct. 31, 2021 | Jul. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 2,450,148 | 2,450,148 |
Common stock, shares outstanding | 2,450,148 | 2,450,148 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Income Statement [Abstract] | ||
Revenues | $ 0 | $ 0 |
Operating Expenses | ||
General administrative expenses | 30,696 | 123 |
Professional fees | 16,450 | 14,688 |
Total Operating Expenses | 47,146 | 14,811 |
Loss from Operations | (47,146) | (14,811) |
Loss before Income Taxes | (47,146) | (14,811) |
Provision for income taxes | 0 | 0 |
Net Loss | $ (47,146) | $ (14,811) |
Basic and diluted loss per common share | $ (0.02) | $ (0.01) |
Basic and diluted weighted average common shares outstanding | 2,450,148 | 2,525,199 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDER'S DEFICIT (UNAUDITED) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance – July 31, 2020 at Jul. 31, 2020 | $ 475 | $ 1,127,076 | $ (1,378,277) | $ (250,726) |
Beginning balance, shares at Jul. 31, 2020 | 4,751,718 | |||
Cancellation of common shares | $ (230) | 230 | ||
Cancellation of common shares, shares | (2,301,570) | |||
Net loss for the period | (14,811) | (14,811) | ||
Balance – October 31, 2020 at Oct. 31, 2020 | $ 245 | 1,127,306 | (1,393,088) | (265,537) |
Ending balance, shares at Oct. 31, 2020 | 2,450,148 | |||
Balance – July 31, 2020 at Jul. 31, 2021 | $ 245 | 1,127,306 | (1,452,661) | (325,110) |
Beginning balance, shares at Jul. 31, 2021 | 2,450,148 | |||
Debt forgiveness by related parties | 349,716 | 349,716 | ||
Net loss for the period | (47,146) | (47,146) | ||
Balance – October 31, 2020 at Oct. 31, 2021 | $ 245 | $ 1,477,022 | $ (1,499,807) | $ (22,540) |
Ending balance, shares at Oct. 31, 2021 | 2,450,148 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (47,146) | $ (14,811) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 3,500 | 3,000 |
Accounts payable and accrued liabilities | 23,144 | 723 |
Net cash used in operating activities | (20,502) | (11,088) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related parties | 17,753 | 11,088 |
Repayment to related parties | (1,202) | 0 |
Net cash provided by financing activities | 16,551 | 11,088 |
Net change in cash | (3,951) | 0 |
Cash - beginning of period | 3,951 | 3,968 |
Cash - end of period | 0 | 3,968 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Non-cash financing and investing activities | ||
Cancellation of common shares | 0 | 230 |
Debt forgiveness by related parties | $ 349,716 | $ 0 |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 3 Months Ended |
Oct. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF BUSINESS | NOTE 1 - DESCRIPTION OF BUSINESS Tianci International, Inc. (the “Company”, “Tianci”) was incorporated under the laws of the State of Nevada, as Freedom Petroleum, Inc. on June 13, 2012. In May 2015, the Company changed its name to Steampunk Wizards, Inc. and on November 9, 2016, the Company changed its name to Tianci International, Inc. As of the date of this report, the Company is a holding company and has not carried out substantive business operations of its own. The Company’s fiscal year end is July 31. Change of control Effective August 6, 2021, Tianci International, Inc., Chuah Su Mei, the Company’s former Chief Executive Officer, President and Director, and Silver Glory Group Limited, entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) pursuant to which Chuah Su Mei agreed to sell to Silver Glory Group Limited all 1,793,000 shares of common stock of the Company held by her (the “Shares”) for cash consideration of Five Hundred Twenty Five Thousand Dollars ($525,000) (the “Transaction”). The Shares represent approximately 73.18 Upon the closing of the Transaction, on August 26, 2021, each of Chuah Su Chen, Chuah Su Mei, and Jerry Ooi, constituting all current directors and officers of the Company, resigned from his or her positions with the Company. Each of the foregoing former officers and directors also forgave all amounts due to them from the Company in connection with the closing of the Transaction. Concurrently with such resignation, Zhigang Pei was appointed as Chief Executive Officer, Chief Financial Officer, Secretary and Director and two directors and three independent directors were also appointed to serve until the next annual meeting of stockholders of the Company. |
GOING CONCERN MATTERS
GOING CONCERN MATTERS | 3 Months Ended |
Oct. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN MATTERS | NOTE 2 – GOING CONCERN MATTERS As of October 31, 2021, the Company had nil 47,146 20,502 The Company’s cash balance and revenues generated are not currently sufficient and cannot be projected to cover operating expenses for the next twelve months from the date of this report. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans include attempting to improve its business profitability, its ability to generate sufficient cash flows from its operations to meet its operating needs on a timely basis, obtain additional working capital funds through equity and debt financing arrangements, and restructure on-going operations to eliminate inefficiencies to raise cash balance in order to meet its anticipated cash requirements for the next twelve months from the date of this report. However, there can be no assurance that these plans and arrangements will be sufficient to fund the Company’s ongoing capital expenditures, working capital, and other requirements. Management intends to make every effort to identify and develop sources of funds. The outcome of these matters cannot be predicted at this time. There can be no assurance that any additional financings will be available to the Company on satisfactory terms and conditions, if at all. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital and continue profitable operations. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The interim financial information referred to above has been prepared and presented in conformity with accounting principles generally accepted in the United States applicable to interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. The interim financial information has been prepared on a basis consistent with prior interim periods and years and includes all disclosures that are necessary and required by applicable laws and regulations. This report on Form 10-Q should be read in conjunction with the Company’s financial statements and notes thereto included in the Company’s Form 10-K for the fiscal year ended July 31, 2021, filed on October 25, 2021. The unaudited condensed financial statements and notes are presented in accordance with accounting principles generally accepted in the United States of America (GAAP) and are presented in U.S. dollars Results of the three months ended October 31, 2021 are not necessarily indicative of the results that may be expected for the year ended July 31, 2022 and any other future periods. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash in trust, and all highly liquid debt instruments with original maturities of three months or less. The Company had $ 0 3,951 Fair Value Measurements The carrying amounts of the Company’s financial instruments, including cash and accounts payable, approximate fair value because of their short maturities. Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on our financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's condensed financial statements. |
DUE TO RELATED PARTIES
DUE TO RELATED PARTIES | 3 Months Ended |
Oct. 31, 2021 | |
Related Party Transactions [Abstract] | |
DUE TO RELATED PARTIES | NOTE 4 – DUE TO RELATED PARTIES During the three months ended October 31, 2021 and 2020, a former shareholder of the Company advanced $ 17,753 11,088 During the three months ended October 31, 2021 and 2020, the Company repaid $ 1,202 0 On August 26, 2021 and pursuant to the Stock Purchase Agreement dated on August 6, 2021 (see Note 1 - Change of control), Chuah Su Mei, the Company’s former Chief Executive Officer, President and Director and all other former officers forgave all amounts due to them from the Company. In regard to this forgiveness, the Company recognized debt forgiveness by related parties of $ 349,716 As of October 31, 2021, and July 31, 2021, the Company owed $ 0 333,165 During the three months ended October 31, 2021, the Company accrued $ 30,600 |
EQUITY
EQUITY | 3 Months Ended |
Oct. 31, 2021 | |
Equity [Abstract] | |
EQUITY | NOTE 5 - EQUITY Preferred Stock The Company has 20,000,000 0.0001 There were no Common Stock The Company has 100,000,000 0.0001 As of October 31, 2021, and July 31, 2021, there were 2,450,148 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Oct. 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 6- SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of October 31, 2021 have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.” |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The interim financial information referred to above has been prepared and presented in conformity with accounting principles generally accepted in the United States applicable to interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. The interim financial information has been prepared on a basis consistent with prior interim periods and years and includes all disclosures that are necessary and required by applicable laws and regulations. This report on Form 10-Q should be read in conjunction with the Company’s financial statements and notes thereto included in the Company’s Form 10-K for the fiscal year ended July 31, 2021, filed on October 25, 2021. The unaudited condensed financial statements and notes are presented in accordance with accounting principles generally accepted in the United States of America (GAAP) and are presented in U.S. dollars Results of the three months ended October 31, 2021 are not necessarily indicative of the results that may be expected for the year ended July 31, 2022 and any other future periods. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash in trust, and all highly liquid debt instruments with original maturities of three months or less. The Company had $ 0 3,951 |
Fair Value Measurements | Fair Value Measurements The carrying amounts of the Company’s financial instruments, including cash and accounts payable, approximate fair value because of their short maturities. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on our financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's condensed financial statements. |
DESCRIPTION OF BUSINESS (Detail
DESCRIPTION OF BUSINESS (Details Narrative) | Aug. 06, 2021 |
Silver Glory Group Limited [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of issued and outstanding | 73.18% |
GOING CONCERN MATTERS (Details
GOING CONCERN MATTERS (Details Narrative) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Assets Held-in-trust | $ 0 | |
Net loss | 47,146 | $ 14,811 |
Cash for operating activities | $ 20,502 | $ 11,088 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 |
Accounting Policies [Abstract] | ||
Cash and cash equivalents | $ 0 | $ 3,951 |
DUE TO RELATED PARTIES (Details
DUE TO RELATED PARTIES (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | ||
Aug. 26, 2021 | Oct. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2021 | |
Related Party Transaction [Line Items] | ||||
Proceeds from related parties | $ 17,753 | $ 11,088 | ||
Debt forgiveness by related parties | $ 349,716 | 349,716 | ||
Due to related parties | 0 | $ 333,165 | ||
Accrued compensation | 30,600 | |||
Former Shareholder [Member] | ||||
Related Party Transaction [Line Items] | ||||
Proceeds from related parties | 17,753 | 11,088 | ||
Repayment of debt | $ 1,202 | $ 0 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - $ / shares | Oct. 31, 2021 | Jul. 31, 2021 |
Equity [Abstract] | ||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares issued | 2,450,148 | 2,450,148 |
Common stock, shares outstanding | 2,450,148 | 2,450,148 |