Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
May 31, 2021 | Sep. 23, 2021 | |
Document Information Line Items | ||
Entity Registrant Name | Sipup Corp | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --11-30 | |
Entity Common Stock, Shares Outstanding | 24,044,000 | |
Amendment Flag | false | |
Entity Central Index Key | 0001563227 | |
Entity Current Reporting Status | No | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | May 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity File Number | 333-185408 | |
Entity Incorporation, State or Country Code | NV | |
Entity Interactive Data Current | No |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | May 31, 2021 | Nov. 30, 2020 |
Current assets: | ||
Other currents assets | $ 47,958 | $ 7,200 |
Restricted Cash (Note 1) | 1,231,511 | |
Total Current Assets | 1,279,469 | 7,200 |
Total assets | 1,279,469 | 7,200 |
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
Current Liabilities and Accrued Expenses | 98,618 | 88,200 |
Convertible Note | 34,639 | |
Loans from investors (Note 1) | 1,151,522 | |
Loan from stockholder | 177,539 | 172,882 |
Total liabilities | 1,462,318 | 261,082 |
Stockholders’ deficit: | ||
Common stock, $0.001 par value; 75,000,000 shares authorized; 24,044,000 shares issued and outstanding on May 31, 2021, and November 30, 2020 respectively | 24,044 | 24,044 |
Additional paid-in capital | 83,111 | 64,631 |
Receipt on accounts of share | 127,947 | |
Shareholder debt due to issuance of shares | (55,647) | |
Accumulated deficit | (417,951) | (286,910) |
Total stockholders’ deficit | (182,849) | (253,882) |
Total liabilities and stockholders’ deficit | $ 1,279,469 | $ 7,200 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares | May 31, 2021 | Nov. 30, 2020 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 24,044,000 | 24,044,000 |
Common stock, shares outstanding | 24,044,000 | 24,044,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | |
Income Statement [Abstract] | ||||
Revenues | ||||
Cost of revenues | ||||
Gross Margin | ||||
General and administrative expenses | $ (33,579) | (26,400) | $ (118,079) | (50,800) |
Finance and Interest (expense) income, net | (7,127) | 572 | (12,962) | (736) |
Total operating (loss) | (40,706) | (25,828) | (131,041) | (51,536) |
Net loss | $ (40,706) | $ (25,828) | $ (131,041) | $ (51,536) |
Net loss per share – basic and diluted attributable to common stockholders (in Dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Basic and diluted weighted average number of shares outstanding (in Shares) | 24,044,000 | 24,044,000 | 24,044,000 | 24,044,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
May 31, 2021 | May 31, 2020 | |
Cash flows from operating activities: | ||
Net loss for the period | $ (131,041) | $ (51,536) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Financial expenses related to convertible loan | 8,119 | |
Interest on shareholder’s loan | 4,657 | 736 |
Stock based compensation | 7,200 | 43,200 |
Changes in operating assets and liabilities: | ||
Increase in current liabilities and accrued expenses | 10,418 | 7,600 |
Net cash provided by (used in) operating activities | 100,647 | |
Cash flows from investing activities: | ||
Related party | (47,958) | |
Restricted fund | (1,231,511) | |
Net cash used in provided by investing activities | (1,279,469) | |
Cash flows from financing activities: | ||
Proceeds from Privat Placement investment | 1,279,469 | |
Proceeds from convertible note | 45,000 | |
Decrease in shareholder debt for issuance of shares | 55,647 | |
Net cash provided by financing activities | 1,380,116 | |
Increase in cash and cash equivalents | ||
Cash and cash equivalents at beginning of period | ||
Cash and cash equivalents at end of period | ||
Non cash transactions: | ||
Benefit component of convertible note | $ 18,480 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Shareholders’ Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Receipt on accounts of shares | Accumulated Deficit | Shareholder debt due to issuance of shares | Total |
Balance at Nov. 30, 2019 | $ 24,044 | $ 64,631 | $ (214,295) | $ (55,647) | $ (181,267) | |
Balance (in Shares) at Nov. 30, 2019 | 24,044,000 | |||||
Income (loss) for the period | (51,536) | (51,536) | ||||
Balance at May. 31, 2020 | $ 24,044 | 64,631 | (265,831) | (55,647) | (232,803) | |
Balance (in Shares) at May. 31, 2020 | 24,044,000 | |||||
Balance at Nov. 30, 2020 | $ 24,044 | 64,631 | (286,910) | (55,647) | (253,882) | |
Balance (in Shares) at Nov. 30, 2020 | 24,044,000 | |||||
Shareholder debt due to issuance of shares | $ 55,647 | 55,647 | ||||
Beneficial conversion feature related to convertible loan | 18,480 | 18,480 | ||||
Receipt on accounts of share | 127,947 | 127,947 | ||||
Income (loss) for the period | (131,041) | (131,041) | ||||
Balance at May. 31, 2021 | $ 24,044 | $ 83,111 | $ 127,947 | $ (417,951) | $ (182,849) | |
Balance (in Shares) at May. 31, 2021 | 24,044,000 |
General
General | 6 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
GENERAL | NOTE 1 – GENERAL Sipup Corporation (the “Company”) is a Nevada Corporation incorporated on October 31, 2012. For additional information see below and note 5 - subsequent events. On April 25, 2021, the Company entered into a Stock Exchange Agreement with VeganNation Services Ltd., a company formed under the laws of the State of Israel (“VeganNation”) and the shareholders of VeganNation pursuant to which VeganNation would become a wholly owned subsidiary of the Company. The transaction is subject to customary closing conditions. VeganNation is, a leading global plant-based company building an all-encompassing conscious consumer ecosystem, connecting and empowering plant-based and sustainable businesses and individuals. Management of the Company believes that the growth of sustainable and plant-based consumer goods presents a unique opportunity to participate in the fastest growing lifestyle globally. In connection with the proposed transaction, the VeganNation stockholders are expected to receive comomn stock of Sipup that will be equal to approximately 50% of the issued and outstanding common stock of the Company at the closing of the proposed merger, on a fully diluted basis. In connection with the anticipated closing of the Share Exchange Agreement with VeganNation in April 2021, the Company commenced a private placement to accredited and offshore investors of units of the Company securities (the “2021 Private Placement”) whereby each unit comprised of (i) one share of Common Stock of the Company at a per share purchase price of $0.35, (ii) a common stock purchase warrant for an additional share of Common Stock exercisable over a one (1) year period at a per share exercise price of $1.00 (the “Series A Warrant”) and (iii) a common stock purchase warrant for an additional share of Common Stock exercisable over a two year period at a per share exercise price of $1.50 (the “Series B Warrant”; together with the Series A Warrants, collectively, the “Warrants”). Through the date hereof, the Company received, in a third party escrow account. $1,279,469 pending the closing of the Share Exchange Agreement. The investors have agreed that pending the closing of the Share Exchange Agreement with VeganNation, the Company is authorized to utilize up to 10% of the amount in escrow to cover operating costs and costs related to the closing of the Share Exchange Agreement. As of May 31, 2021 the Company utilized $47,958 from proceeds of the 2021 Private Placement. Going concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of May 31, 2021, the Company has an accumulated deficit of $417,951 from operations. The Company has earned insufficient revenues to cover its operating costs. The Company intends to fund future operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending November 30, 2021. The ability of the Company to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. 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 and Basis of Presentation | 6 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION Unaudited Interim Financial Statements The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiary, prepared in accordance with accounting principles generally accepted in the GAAP and with the instructions to Form 10-Q. In the opinion of management, the financial statements presented herein have not been audited by an independent registered public accounting firm but include all material adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the financial condition, results of operations and cash flows for the for three-months ended May 31, 2021. However, these results are not necessarily indicative of results for any other interim period or for the year ended November 30, 2020. The preparation of financial statements in conformity with GAAP requires the Company to make certain estimates and assumptions for the reporting periods covered by the financial statements. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Actual amounts could differ from these estimates. Certain information and footnote disclosures normally included in financial statements in accordance with generally accepted accounting principles have been omitted pursuant to the rules of the U.S. Securities and Exchange Commission (“SEC”). These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report published on the SEC’s website, for the year ended November 30, 2020. Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, certain revenues and expenses, and disclosure of contingent assets and liabilities as of the date of the financial statements. Actual results could differ from those estimates. As applicable to these financial statements, the most significant estimates and assumptions relate to the going concern assumptions and convertible note. Derivative Liabilities and Fair Value of Financial Instruments Fair value accounting requires bifurcation of embedded derivative instruments such as conversion features in convertible debt or equity instruments and measurement of their fair value for accounting purposes. In assessing the convertible debt instruments, management determines if the convertible debt host instrument is conventional convertible debt and further if there is a beneficial conversion feature requiring measurement. If the instrument is not considered conventional convertible debt under Accounting Standards Codification (“ASC”) 470, the Company will continue its evaluation process of these instruments as derivative financial instruments under ASC 815, “Derivatives and Hedging”. Once determined, derivative liabilities are adjusted to reflect fair value at each reporting period end, with any increase or decrease in the fair value being recorded in results of operations as an adjustment to fair value of derivatives. Fair value of certain of the Company’s financial instruments including cash, accounts receivable, account payable, accrued expenses, notes payables, and other accrued liabilities approximate cost because of their short maturities. The Company measures and reports fair value in accordance with ASC 820, “Fair Value Measurements and Disclosure” defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value investments. Fair value, as defined in ASC 820, 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. The fair value of an asset should reflect its highest and best use by market participants, principal (or most advantageous) markets, and an in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of non performance, which includes, among other things, the Company’s credit risk. Valuation techniques are generally classified into three categories: the market approach; the income approach; and the cost approach. The selection and application of one or more of the techniques may require significant judgment and are primarily dependent upon the characteristics of the asset or liability, and the quality and availability of inputs. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 also provides fair value hierarchy for inputs and resulting measurement as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: Unobservable inputs for the asset or liability that are supported by little or no market activity, and that are significant to the fair values. |
Convertible Loans
Convertible Loans | 6 Months Ended |
May 31, 2021 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE LOANS | NOTE 3 – CONVERTIBLE LOANS During December 2020 the company, in consideration of the advance of $50,000 for purposes of paying outstanding Company obligation to third parties, the Company issued to Adi Zim and Rosario Capital Ltd. its unsecured convertible promissory note in the principal amount of $50,000 (the “Note”). The Note is repayable upon the earlier of December 15, 2021 or the closing of the Stock Exchange Agreement with VeganNation. The Note is convertible into shares of the Company’s common stock at a rate equal to $0.10 per share. During the six months ended May 31, 2021 the company received $50,000 representing the full amount of advance payment. The Conversion was estimated using the Black-Scholes option pricing model. The following are the data and assumptions used as of issuance dates and as of the balance sheet date: H1 2021 Dividend yield - Risk-free interest rate 4.5 % Expected term (years) 0.95 Volatility 315.6 % Share price 0.45 Exercise price 0.10 Fair value of beneficial component 18,480 |
Loan from Stockholder
Loan from Stockholder | 6 Months Ended |
May 31, 2021 | |
Loan From Stockholders [Abstract] | |
LOAN FROM STOCKHOLDER | NOTE 4 – LOAN FROM STOCKHOLDER As of, May 31, November 30, Loan from shareholder (*) $ 163,519 $ 158,862 Loan from related party (**) 14,020 14,020 $ 177,539 $ 172,882 (*) The loan is unsecured, bears annual 2.56% interest and has no repayment term. (**) The loan is unsecured, bears no interest and has no repayment term. This loan is repayable on demand |
Related Party Transaction
Related Party Transaction | 6 Months Ended |
May 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTION | NOTE 5 – RELATED PARTY TRANSACTION The following transactions were carried out with related parties: Three Months Ended May 31, Six Months Ended May 31, 2021 2020 2021 2020 General and administrative expenses - 21,600 7,200 43,200 Interest on shareholder’s loan 2,323 (572 ) 4,668 736 For additional information please refer to Notes 1, 3 & 4. |
Subsequent Events
Subsequent Events | 6 Months Ended |
May 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 6 – SUBSEQUENT EVENTS In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no additional material subsequent events to report. (i) on September 23, 2021, the Company and former equity owner of Enlightened Ltd. the Company’s subsidiary, entered into an agreement whereby the Company agreed to cover the repayment of a loan owed by Enlightened to Israel Discount Bank in the principal amount of 250,000 NIS (approximately $78,000 as of the date of this report). The loan bears interest at an annual rate of 4.9% with a maturity date of 10 years. In addition, the Company agreed to remit to the former owner $125,000 from the proceeds of any capital raise that the Company completes subsequent to the 2021 Private Placement. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 6 Months Ended |
May 31, 2021 | |
Accounting Policies [Abstract] | |
Unaudited Interim Financial Statements | Unaudited Interim Financial Statements The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiary, prepared in accordance with accounting principles generally accepted in the GAAP and with the instructions to Form 10-Q. In the opinion of management, the financial statements presented herein have not been audited by an independent registered public accounting firm but include all material adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of the financial condition, results of operations and cash flows for the for three-months ended May 31, 2021. However, these results are not necessarily indicative of results for any other interim period or for the year ended November 30, 2020. The preparation of financial statements in conformity with GAAP requires the Company to make certain estimates and assumptions for the reporting periods covered by the financial statements. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Actual amounts could differ from these estimates. Certain information and footnote disclosures normally included in financial statements in accordance with generally accepted accounting principles have been omitted pursuant to the rules of the U.S. Securities and Exchange Commission (“SEC”). These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report published on the SEC’s website, for the year ended November 30, 2020. |
Use of Estimates | Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, certain revenues and expenses, and disclosure of contingent assets and liabilities as of the date of the financial statements. Actual results could differ from those estimates. As applicable to these financial statements, the most significant estimates and assumptions relate to the going concern assumptions and convertible note. |
Derivative Liabilities and Fair Value of Financial Instruments | Derivative Liabilities and Fair Value of Financial Instruments Fair value accounting requires bifurcation of embedded derivative instruments such as conversion features in convertible debt or equity instruments and measurement of their fair value for accounting purposes. In assessing the convertible debt instruments, management determines if the convertible debt host instrument is conventional convertible debt and further if there is a beneficial conversion feature requiring measurement. If the instrument is not considered conventional convertible debt under Accounting Standards Codification (“ASC”) 470, the Company will continue its evaluation process of these instruments as derivative financial instruments under ASC 815, “Derivatives and Hedging”. Once determined, derivative liabilities are adjusted to reflect fair value at each reporting period end, with any increase or decrease in the fair value being recorded in results of operations as an adjustment to fair value of derivatives. Fair value of certain of the Company’s financial instruments including cash, accounts receivable, account payable, accrued expenses, notes payables, and other accrued liabilities approximate cost because of their short maturities. The Company measures and reports fair value in accordance with ASC 820, “Fair Value Measurements and Disclosure” defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value investments. Fair value, as defined in ASC 820, 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. The fair value of an asset should reflect its highest and best use by market participants, principal (or most advantageous) markets, and an in-use or an in-exchange valuation premise. The fair value of a liability should reflect the risk of non performance, which includes, among other things, the Company’s credit risk. Valuation techniques are generally classified into three categories: the market approach; the income approach; and the cost approach. The selection and application of one or more of the techniques may require significant judgment and are primarily dependent upon the characteristics of the asset or liability, and the quality and availability of inputs. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 also provides fair value hierarchy for inputs and resulting measurement as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3: Unobservable inputs for the asset or liability that are supported by little or no market activity, and that are significant to the fair values. |
Convertible Loans (Tables)
Convertible Loans (Tables) | 6 Months Ended |
May 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Black-Scholes option pricing model | H1 2021 Dividend yield - Risk-free interest rate 4.5 % Expected term (years) 0.95 Volatility 315.6 % Share price 0.45 Exercise price 0.10 Fair value of beneficial component 18,480 |
Loan from Stockholder (Tables)
Loan from Stockholder (Tables) | 6 Months Ended |
May 31, 2021 | |
Loan From Stockholders [Abstract] | |
Schedule of loan from stockholder | As of, May 31, November 30, Loan from shareholder (*) $ 163,519 $ 158,862 Loan from related party (**) 14,020 14,020 $ 177,539 $ 172,882 (*) The loan is unsecured, bears annual 2.56% interest and has no repayment term. (**) The loan is unsecured, bears no interest and has no repayment term. This loan is repayable on demand |
Related Party Transaction (Tabl
Related Party Transaction (Tables) | 6 Months Ended |
May 31, 2021 | |
Related Party Transactions [Abstract] | |
Schedule of related party transactions | Three Months Ended May 31, Six Months Ended May 31, 2021 2020 2021 2020 General and administrative expenses - 21,600 7,200 43,200 Interest on shareholder’s loan 2,323 (572 ) 4,668 736 |
General (Details)
General (Details) | 6 Months Ended |
May 31, 2021USD ($) | |
Accounting Policies [Abstract] | |
Issued and outstanding of common stock | 50.00% |
Private placement, description | (i) one share of Common Stock of the Company at a per share purchase price of $0.35, (ii) a common stock purchase warrant for an additional share of Common Stock exercisable over a one (1) year period at a per share exercise price of $1.00 (the “Series A Warrant”) and (iii) a common stock purchase warrant for an additional share of Common Stock exercisable over a two year period at a per share exercise price of $1.50 (the “Series B Warrant”; together with the Series A Warrants, collectively, the “Warrants”). Through the date hereof, the Company received, in a third party escrow account. $1,279,469 pending the closing of the Share Exchange Agreement. The investors have agreed that pending the closing of the Share Exchange Agreement with VeganNation, the Company is authorized to utilize up to 10% of the amount in escrow to cover operating costs and costs related to the closing of the Share Exchange Agreement. As of May 31, 2021 the Company utilized $47,958 from proceeds of the 2021 Private Placement. |
Accumulated deficit | $ 417,951 |
Convertible Loans (Details)
Convertible Loans (Details) - USD ($) | May 31, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | ||
Consideration of advance amount | $ 50,000 | |
Principal amount | $ 50,000 | |
Common stock rate price (in Dollars per share) | $ 0.10 | |
Advance payment | $ 50,000 |
Convertible Loans (Details) - S
Convertible Loans (Details) - Schedule of Black-Scholes option pricing model | 6 Months Ended |
May 31, 2021USD ($)$ / shares | |
Schedule of Black-Scholes option pricing model [Abstract] | |
Dividend yield | |
Risk-free interest rate | 4.50% |
Expected term (years) | 346 days |
Volatility | 315.60% |
Share price (in Dollars per share) | $ 0.45 |
Exercise price (in Dollars per share) | $ 0.10 |
Fair value of beneficial component (in Dollars) | $ | $ 18,480 |
Loan from Stockholder (Details)
Loan from Stockholder (Details) | May 31, 2021 |
Loan From Stockholders [Abstract] | |
Bears annual interest | 2.56% |
Loan from Stockholder (Detail_2
Loan from Stockholder (Details) - Schedule of loan from stockholder - USD ($) | May 31, 2021 | Nov. 30, 2020 | |
Schedule of loan from stockholder [Abstract] | |||
Loan from shareholder | [1] | $ 163,519 | $ 158,862 |
Loan from related party | [2] | 14,020 | 14,020 |
Total Loan from stockholder | $ 177,539 | $ 172,882 | |
[1] | The loan is unsecured, bears annual 2.56% interest and has no repayment term. | ||
[2] | The loan is unsecured, bears no interest and has no repayment term. This loan is repayable on demand |
Related Party Transaction (Deta
Related Party Transaction (Details) - Schedule of related party transactions - USD ($) | 3 Months Ended | 6 Months Ended | ||
May 31, 2021 | May 31, 2020 | May 31, 2021 | May 31, 2020 | |
Schedule of related party transactions [Abstract] | ||||
General and administrative expenses | $ 21,600 | $ 7,200 | $ 43,200 | |
Interest on shareholder’s loan | $ 2,323 | $ (572) | $ 4,668 | $ 736 |
Subsequent Events (Details)
Subsequent Events (Details) | 1 Months Ended |
Sep. 23, 2021 | |
Subsequent Events [Abstract] | |
Exchange agreement description | the Company’s subsidiary, entered into an agreement whereby the Company agreed to cover the repayment of a loan owed by Enlightened to Israel Discount Bank in the principal amount of 250,000 NIS (approximately $78,000 as of the date of this report). The loan bears interest at an annual rate of 4.9% with a maturity date of 10 years. In addition, the Company agreed to remit to the former owner $125,000 from the proceeds of any capital raise that the Company completes subsequent to the 2021 Private Placement. |