Cover
Cover - USD ($) | 12 Months Ended | ||
Oct. 31, 2020 | Apr. 19, 2021 | Apr. 30, 2020 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Oct. 31, 2020 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Current Fiscal Year End Date | --10-31 | ||
Entity File Number | 333-185928 | ||
Entity Registrant Name | ARAX HOLDINGS CORP | ||
Entity Central Index Key | 0001566243 | ||
Entity Incorporation, State or Country Code | NV | ||
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 | ||
Entity Public Float | $ 9,302,332 | ||
Entity Common Stock, Shares Outstanding | 10,335,924 |
Balance Sheets
Balance Sheets | Oct. 31, 2020USD ($) |
ASSETS | |
Total current assets | $ 0 |
Current liabilities | |
Loan from related party | 0 |
Related party payable for services | 0 |
Convertible note | 0 |
Accrued expenses | 0 |
Accrued interest payable | 0 |
Total current liabilities | 0 |
Commitments and Contingencies | |
Stockholders' Equity | |
Common stock, Par Value $0.001, 75,000,000 shares authorized, 10,335,924 issued and outstanding as of October 31, 2020 | 10,335 |
Additional paid-in capital | 588,271 |
Retained earnings (deficit) | (598,606) |
Total Stockholders' (Deficit) | 0 |
Total Liabilities and Stockholders' (Equity) | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) | Oct. 31, 2020$ / sharesshares |
Statement of Financial Position [Abstract] | |
Common stock, par value (in dollars per share) | $ / shares | $ 0.001 |
Common stock, authorized | 75,000,000 |
Common stock, issued | 10,335,924 |
Common stock, outstanding | 10,335,924 |
Statements of Operations
Statements of Operations | 12 Months Ended |
Oct. 31, 2020USD ($)$ / sharesshares | |
Income Statement [Abstract] | |
REVENUE | $ 0 |
Operating Expenses: | |
Administrative expenses | 0 |
Total operating expenses | 0 |
(Loss) from operations | 0 |
Other expense | |
Other (expense) net | 0 |
Income (loss) before provision for income taxes | 0 |
Provision for Income Taxes | 0 |
NET LOSS | $ 0 |
Basic and diluted earnings(loss) per common share | $ / shares | $ 0 |
Weighted average number of shares outstanding | shares | 10,335,924 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity - 12 months ended Oct. 31, 2020 - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance at Oct. 31, 2019 | $ 10,335 | $ 588,271 | $ (598,606) | $ 0 |
Beginning balance (in shares) at Oct. 31, 2019 | 10,335,924 | |||
Net loss | 0 | |||
Ending Balance at Oct. 31, 2020 | $ 10,335 | $ 588,271 | $ (598,606) | $ 0 |
Ending Balance (in shares) at Oct. 31, 2020 | 10,335,924 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows | 12 Months Ended |
Oct. 31, 2020USD ($) | |
Cash Flows From Operating Activities: | |
Net loss | $ 0 |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |
Net cash provided by (used for) operating activities | 0 |
Cash Flows From Investing Activities: | |
Net cash provided by (used for) investing activities | 0 |
Cash Flows From Financing Activities: | |
Net cash provided by (used for) financing activities | 0 |
Net Increase (Decrease) In Cash | 0 |
Cash At The Beginning Of The Period | 0 |
Cash At The End Of The Period | $ 0 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 12 Months Ended |
Oct. 31, 2020 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Arax Holdings Corp. (the “Company”) was incorporated under the laws of the State of Nevada on February 23, 2012 with a business plan to sell hot dogs from mobile hot dog stands throughout the major cities in Mexico. As of the filing of the 10K for 2016, the Company stated that it was re-evaluating its business plan. It was further indicated as possible that a new business model could be related to a new business sector other than the food sector, and that any new business model could entail a capital restructuring of the Company in order to provide new capital and a broader base of shareholders. Such a capital restructuring of the Company could involve a merger or acquisition of assets through various techniques, including a possible reverse-merger. On October 31, 2016 management believed that the best business model for our investors is to pursue business activity in the Life Sciences sector of the United States and possibly internationally. The Company has been dormant since September 28, 2017. On December 30, 2020, as a result of a custodianship in Clark County, Nevada, Case Number: A-20-825346-B, Custodian Ventures LLC (“Custodian”) was appointed custodian of the “Company”. On the same date, Custodian appointed David Lazar as the Company’s Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer and Chairman of the Board of Directors. The Company’s accounting year-end is October 31. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Oct. 31, 2020 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of October 31, 2020, the Company had no cash and an accumulated deficit of $598,606. Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company being funded by David Lazar who extended interest-free demand loans to the Company. Mr. Lazar sold his interest in the company and will no longer be offering any form of financing. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On October 31, 2020. Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Recent Accounting Pronouncements There are no recent accounting pronouncements that impact the Company’s operations. |
EQUITY
EQUITY | 12 Months Ended |
Oct. 31, 2020 | |
Equity [Abstract] | |
EQUITY | NOTE 3 – EQUITY Common Stock The Company has authorized 75,000,000 shares of $0.001 par value, common stock. As of October 31, 2020, there were 10,335,924 shares of Common Stock issued and outstanding, respectively. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Oct. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 4 – COMMITMENTS AND CONTINGENCIES The Company did not have any contractual commitments as of October 31, 2020. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Oct. 31, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued and has determined that it does not have any material subsequent events to disclose in these financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Oct. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP |
Going Concern | Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of October 31, 2020, the Company had no cash and an accumulated deficit of $598,606. Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company being funded by David Lazar who extended interest-free demand loans to the Company. Mr. Lazar sold his interest in the company and will no longer be offering any form of financing. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. |
Cash and Cash Equivalents | Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On October 31, 2020. |
Income Taxes | Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. |
Net Loss per Share | Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements There are no recent accounting pronouncements that impact the Company’s operations. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | Oct. 31, 2020USD ($) |
Accounting Policies [Abstract] | |
Cash | $ 0 |
Accumulated deficit | $ (598,606) |
EQUITY (Details Narrative)
EQUITY (Details Narrative) | Oct. 31, 2020$ / sharesshares |
Equity [Abstract] | |
Common stock, authorized | 75,000,000 |
Common stock, par value | $ / shares | $ 0.001 |
Common stock, issued | 10,335,924 |
Common stock, outstanding | 10,335,924 |