Cover
Cover - USD ($) | 12 Months Ended | ||
Jul. 31, 2022 | Oct. 24, 2022 | Jan. 31, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jul. 31, 2022 | ||
Document Fiscal Period Focus | FY | ||
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 | 20 Holbeche Road | ||
Entity Address, City or Town | Arndell Park, NSW, | ||
Entity Address, Country | AU | ||
Entity Address, Postal Zip Code | 2148 | ||
Country Region | 61 | ||
City Area Code | 02 | ||
Local Phone Number | 9672 1899 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
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 | ||
Public Float | $ 722,862 | ||
Entity Common Stock, Shares Outstanding | 2,450,148 | ||
Auditor Firm ID | 2851 | ||
Auditor Name | KCCW Accountancy Corp. | ||
Auditor Location | Diamond Bar, California |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Jul. 31, 2022 | Jul. 31, 2021 |
Current Assets | ||
Cash | $ 9,000 | $ 3,951 |
Prepaid expenses | 1,750 | 14,000 |
Prepaid compensation | 11,500 | 0 |
Total Current Assets | 22,250 | 17,951 |
TOTAL ASSETS | 22,250 | 17,951 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 50,499 | 9,896 |
Due to related parties | 194,888 | 333,165 |
Total Current Liabilities | 245,387 | 343,061 |
Total Liabilities | 245,387 | 343,061 |
Commitments and Contingencies | ||
Preferred stock, $0.0001 par value; 20,000,000 shares authorized; no shares issued and outstanding | ||
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 | (1,700,404) | (1,452,661) |
Total Shareholders' Deficit | (223,137) | (325,110) |
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | $ 22,250 | $ 17,951 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | Jul. 31, 2022 | Jul. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par or Stated Value 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 or Stated Value 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 - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Statement [Abstract] | ||
Revenues | $ 0 | $ 0 |
Operating Expenses | ||
General administrative expenses | 174,331 | 624 |
Professional fees | 73,412 | 62,379 |
Total Operating Expenses | 247,743 | 63,003 |
Loss from Operations | (247,743) | (63,003) |
Other Income (Expense) | ||
Other expenses | 0 | (11,381) |
Total Other Income (Expense) | 0 | (11,381) |
Loss before Income Taxes | (247,743) | (74,384) |
Provision for income taxes | 0 | 0 |
Net Loss | $ (247,743) | $ (74,384) |
Condensed Statements of Opera_2
Condensed Statements of Operations (Parenthetical) - $ / shares | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Statement [Abstract] | ||
Earnings Per Share, Basic | $ 0.10 | $ 0.03 |
Earnings Per Share, Diluted | $ 0.10 | $ 0.03 |
Weighted Average Number of Shares Outstanding, Basic | 2,450,148 | 2,469,065 |
Weighted Average Number of Shares Outstanding, Diluted | 2,450,148 | 2,469,065 |
Condensed Statements of Changes
Condensed Statements of Changes in Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance - July 31, 2021 at Jul. 31, 2020 | $ 475 | $ 1,127,076 | $ (1,378,277) | $ (250,726) |
Shares, Outstanding, Beginning Balance at Jul. 31, 2020 | 4,751,718 | |||
Cancellation of common shares | $ (230) | 230 | ||
Stock Repurchased During Period, Shares | (2,301,570) | |||
Net loss for the year | (74,384) | (74,384) | ||
Balance - July 31, 2022 at Jul. 31, 2021 | $ 245 | 1,127,306 | (1,452,661) | (325,110) |
Shares, Outstanding, Ending Balance at Jul. 31, 2021 | 2,450,148 | |||
Net loss for the year | (247,743) | (247,743) | ||
Debt forgiveness by related parties | 349,716 | 349,716 | ||
Balance - July 31, 2022 at Jul. 31, 2022 | $ 245 | $ 1,477,022 | $ (1,700,404) | $ (223,137) |
Shares, Outstanding, Ending Balance at Jul. 31, 2022 | 2,450,148 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (247,743) | $ (74,384) |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 12,250 | (2,000) |
Prepaid compensation | (11,500) | |
Accounts payable and accrued liabilities | 40,603 | 2,136 |
Net cash used in operating activities | (206,390) | (74,248) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related parties | 212,641 | 74,231 |
Repayment to related parties | (1,202) | 0 |
Net cash provided by financing activities | 211,439 | 74,231 |
Net change in cash | 5,049 | (17) |
Cash - beginning of period | 3,951 | 3,968 |
Cash - end of period | 9,000 | 3,951 |
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 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 12 Months Ended |
Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 - ORGANIZATION AND 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% of the issued and outstanding common stock of the Company. The sale of the Shares consummated on August 26, 2021. As a result of the Transaction, Silver Glory Group Limited holds a controlling interest in the Company. 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 | 12 Months Ended |
Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN MATTERS | NOTE 2 - GOING CONCERN MATTERS As of July 31, 2022, the Company had $ 9,000 247,743 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 | 12 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The annual financial information referred to above has been prepared and presented in conformity with accounting principles generally accepted in the United States of America applicable to annual financial information and with the instructions to Form 10-K and regulation of the Securities and Exchange Commission (“SEC”). The annual financial information has been prepared on a basis consistent with prior periods and years and includes all disclosures that are necessary and required by applicable laws and regulations. The accompanying financial statements and notes are presented in accordance with accounting principles generally accepted in the United States of America (the U.S. GAAP) and are presented in U.S. dollars. These annual financial statements include all adjustments that, in the opinion of management, are necessary in order to make the financial statements not misleading. 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 $ 9,000 3,951 Fair Value Measurements As defined in ASC 820” Fair Value Measurements,” fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The Company's financial instruments consist of cash, prepaid expense, accounts payable, and due to related parties. The carrying amounts of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements. Revenue Recognition The Company has yet to generate revenues from operations. The Company will recognize revenue when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded to reduce the Company’s deferred tax assets to the amount that is more likely than not to be realized. See Note 6 for information related to income taxes, including the recorded balances of its valuation allowance related to deferred tax assets. Basic and Diluted Earnings (Loss) Per Share Basic earnings (loss) per share is calculated by dividing the Company’s net loss applicable to common stockholders by the weighted average number of common shares during the period. Diluted earnings (loss) per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on the financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's financial statements. |
DUE TO RELATED PARTIES
DUE TO RELATED PARTIES | 12 Months Ended |
Jul. 31, 2022 | |
Related Party Transactions [Abstract] | |
DUE TO RELATED PARTIES | NOTE 4 - DUE TO RELATED PARTIES During the years ended July 31, 2022 and 2021, the former and current shareholder of the Company advanced $ 212,641 74,231 During the years ended July 31, 2022 and 2021, 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 additional paid-in-capital. During the year ended July 31, 2022, the Company accrued $ 168,300 for the compensation of its CEO and five directors. During the year ended July 31, 2022, the Company paid compensation of $ 126,500 to the five directors. As of July 31, 2022, the Company owed $ 41,800 unpaid compensation to the CEO, which was included in accounts payable and accrued liabilities, and prepaid the amount of $ for compensation to the five directors. As of July 31, 2022, and July 31, 2021, the Company owed $ 194,888 333,165 |
EQUITY
EQUITY | 12 Months Ended |
Jul. 31, 2022 | |
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 On August 4, 2020, the Chief Executive Officer of the Company cancelled 301,570 2,000,000 As of July 31, 2022, and 2021, there were 2,450,148 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 6 - INCOME TAXES The Company files income tax returns in the U.S. federal jurisdiction, and state and local jurisdictions. The Company follows ASC 740. Deferred income taxes reflect the net effect of (a) temporary difference between carrying amounts of assets and liabilities for financial purposes and the amounts used for income tax reporting purposes, and (b) net operating loss carry-forwards. No net provision for refundable Federal income tax has been made in the accompanying statements of operations because no recoverable taxes were paid previously. Similarly, no deferred tax asset attributable to the net operating loss carry-forward has been recognized, as it is not deemed likely to be realized. The income tax benefit for the years ended July 31, 2022 and 2021 consists of the following: Schedule of components of income tax expense For the Years Ended July 31, 2022 2021 Loss before income tax $ (247,743 ) $ (74,384 ) Tax rate 21% 21% Income tax expense (benefit) at statutory rate $ (52,026 ) $ (15,621 ) Change in valuation allowance 52,026 15,621 Income tax expense (benefit) $ – $ – Deferred taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts recorded for tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows: Schedule of deferred tax assets As of July 31, 2022 2021 NOL Carryover $ 546,983 $ 494,957 Valuation allowance (546,983 ) (494,957 ) Net deferred tax asset $ – $ – The reconciliation of the effective income tax rate to the U.S. federal statutory rate as of July 31, 2022 and 2021: Schedule of effective income tax reconciliation As of July 31, 2022 2021 Federal income tax (benefit) (21)% (21)% Increase in valuation allowance 21% 21% Effective income tax rate 0% 0% At July 31, 2022 and 2021, the Company had $ 2,604,680 2,356,937 The Company assesses the likelihood that deferred tax assets will not be realized. FASB ASC Topic 740, “Income Taxes” requires that a valuation allowance be established when it is “more likely than not” that all, or a portion of, deferred tax assets will not be realized. A review of all available positive and negative evidence needs to be considered, including the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies. After consideration of all the information available, management believes that uncertainty exists with respect to future realization of its deferred tax assets and has, therefore, established a full valuation allowance as of July 31, 2022 and 2021. The Company has not completed its evaluation of NOL utilization limitation under IRC Section 382, change of ownership rules, but believes that it had a change of ownership that would limit the amount of U.S. NOLs that could be utilized each year based on the “Internal Revenue Code, as Amended.” The Company’s tax returns are subject to examination by tax authorities beginning with the year ended July 31, 2018. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Jul. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7 - COMMITMENTS AND CONTINGENCIES The Company had no other commitments or contingencies as of July 31, 2022. From time to time the Company may become a party to litigation matters involving claims against the Company. Management believes that it is adequately insured for its operations and there are no current matters that would have a material effect on the Company's financial position or results of operations. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Jul. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8 - SUBSEQUENT EVENTS Management has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of July 31, 2022 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) | 12 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The annual financial information referred to above has been prepared and presented in conformity with accounting principles generally accepted in the United States of America applicable to annual financial information and with the instructions to Form 10-K and regulation of the Securities and Exchange Commission (“SEC”). The annual financial information has been prepared on a basis consistent with prior periods and years and includes all disclosures that are necessary and required by applicable laws and regulations. The accompanying financial statements and notes are presented in accordance with accounting principles generally accepted in the United States of America (the U.S. GAAP) and are presented in U.S. dollars. These annual financial statements include all adjustments that, in the opinion of management, are necessary in order to make the financial statements not misleading. |
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 $ 9,000 3,951 |
Fair Value Measurements | Fair Value Measurements As defined in ASC 820” Fair Value Measurements,” fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The Company's financial instruments consist of cash, prepaid expense, accounts payable, and due to related parties. The carrying amounts of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements. |
Revenue Recognition | Revenue Recognition The Company has yet to generate revenues from operations. The Company will recognize revenue when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded to reduce the Company’s deferred tax assets to the amount that is more likely than not to be realized. See Note 6 for information related to income taxes, including the recorded balances of its valuation allowance related to deferred tax assets. |
Basic and Diluted Earnings (Loss) Per Share | Basic and Diluted Earnings (Loss) Per Share Basic earnings (loss) per share is calculated by dividing the Company’s net loss applicable to common stockholders by the weighted average number of common shares during the period. Diluted earnings (loss) per share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on the financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's financial statements. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Schedule of components of income tax expense | Schedule of components of income tax expense For the Years Ended July 31, 2022 2021 Loss before income tax $ (247,743 ) $ (74,384 ) Tax rate 21% 21% Income tax expense (benefit) at statutory rate $ (52,026 ) $ (15,621 ) Change in valuation allowance 52,026 15,621 Income tax expense (benefit) $ – $ – |
Schedule of deferred tax assets | Schedule of deferred tax assets As of July 31, 2022 2021 NOL Carryover $ 546,983 $ 494,957 Valuation allowance (546,983 ) (494,957 ) Net deferred tax asset $ – $ – |
Schedule of effective income tax reconciliation | Schedule of effective income tax reconciliation As of July 31, 2022 2021 Federal income tax (benefit) (21)% (21)% Increase in valuation allowance 21% 21% Effective income tax rate 0% 0% |
GOING CONCERN MATTERS (Details
GOING CONCERN MATTERS (Details Narrative) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Assets Held-in-trust | $ 9,000 | |
Net Income (Loss) Attributable to Parent | $ 247,743 | $ 74,384 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Accounting Policies [Abstract] | ||
Cash and Cash Equivalents, at Carrying Value | $ 9,000 | $ 3,951 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 |
DUE TO RELATED PARTIES (Details
DUE TO RELATED PARTIES (Details Narrative) - USD ($) | 12 Months Ended | ||
Aug. 26, 2021 | Jul. 31, 2022 | Jul. 31, 2021 | |
Related Party Transactions [Abstract] | |||
Proceeds from Related Party Debt | $ 212,641 | $ 74,231 | |
Repayments of Related Party Debt | 1,202 | 0 | |
[custom:DebtForgivenessByRelatedParties] | $ 349,716 | 349,716 | 0 |
Salary and Wage, NonOfficer, Excluding Cost of Good and Service Sold | 168,300 | ||
Noninterest Expense Directors Fees | 126,500 | ||
Accrued Salaries | 41,800 | ||
Due to Related Parties, Current | $ 194,888 | $ 333,165 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - $ / shares | Aug. 04, 2020 | Jul. 31, 2022 | Jul. 31, 2021 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |
Preferred Stock, Shares Outstanding | 0 | 0 | |
Preferred Stock, Shares Issued | 0 | 0 | |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | |
Common Stock, Par or Stated Value 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 | |
Chief Executive Officer [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Stock Repurchased During Period Shares | 301,570 | ||
Chief Executive Financial [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Stock Repurchased During Period Shares | 2,000,000 |
Income Taxes (Details - Provisi
Income Taxes (Details - Provision for income taxes) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Loss before income tax | $ (247,743) | $ (74,384) |
Tax rate | 21% | 21% |
Income tax expense (benefit) at statutory rate | $ (52,026) | $ (15,621) |
Change in valuation allowance | 52,026 | 15,621 |
Income tax expense (benefit) | $ 0 | $ 0 |
Income Taxes (Details - Deferre
Income Taxes (Details - Deferred taxes) - USD ($) | Jul. 31, 2022 | Jul. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
NOL Carryover | $ 546,983 | $ 494,957 |
Valuation allowance | (546,983) | (494,957) |
Net deferred tax asset | $ 0 | $ 0 |
Income Taxes (Details - Schedul
Income Taxes (Details - Schedule of effective income tax reconciliation) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Federal income tax (benefit) | (21.00%) | (21.00%) |
Increase in valuation allowance | 21% | 21% |
Effective income tax rate | 0% | 0% |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | Jul. 31, 2022 | Jul. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Net Operating Losses | $ 2,604,680 | $ 2,356,937 |