Cover
Cover - USD ($) | 12 Months Ended | ||
Nov. 30, 2023 | Feb. 26, 2024 | May 31, 2023 | |
Cover [Abstract] | |||
Entity Registrant Name | AMJ Global Technology | ||
Entity Central Index Key | 0001593773 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --11-30 | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Current Reporting Status | No | ||
Document Period End Date | Nov. 30, 2023 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Entity Common Stock Shares Outstanding | 103,033,323 | ||
Entity Public Float | $ 1,046,100 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Fin Stmt Error Correction Flag | false | ||
Entity File Number | 333-194055 | ||
Entity Incorporation State Country Code | NV | ||
Entity Address Address Line 1 | 2470 E Flamingo Rd. | ||
Entity Address Address Line 2 | Suite A | ||
Entity Address City Or Town | Las Vegas | ||
Entity Address State Or Province | NV | ||
Entity Address Postal Zip Code | 89121 | ||
City Area Code | 818 | ||
Local Phone Number | 853-7033 | ||
Security 12g Title | Common Stock, $0.001 par value | ||
Entity Interactive Data Current | Yes | ||
Icfr Auditor Attestation Flag | false | ||
Auditor Name | GreenGrowth CPAs | ||
Auditor Firm Id | 6580 | ||
Auditor Location | Los Angeles, California |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Nov. 30, 2023 | Nov. 30, 2022 |
Current Assets | ||
Cash | $ 0 | $ 0 |
Prepaid expenses | 9,140 | 0 |
Total Current Assets | 9,140 | 0 |
TOTAL ASSETS | 9,140 | 0 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 750 | 5,655 |
Accrued management fees - related party | 110,000 | 0 |
Due to related party | 16,465 | 11,098 |
Total Current Liabilities | 127,215 | 16,753 |
Stockholders' Deficit | ||
Common stock, $0.001 par value, 750,000,000 shares authorized, 103,033,323 and 89,623,323 shares issued and outstanding, respectively | 103,033 | 89,623 |
Additional paid-in capital | 169,469 | 147,412 |
Accumulated deficit | (390,577) | (253,788) |
Total Stockholders' Deficit | (118,075) | (16,753) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 9,140 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Nov. 30, 2023 | Nov. 30, 2022 |
Consolidated Balance Sheets | ||
Common stock, Par value | $ 0.001 | $ 0.001 |
Common stock, Authorized | 750,000,000 | 750,000,000 |
Common stock, Issued | 103,033,323 | 89,623,323 |
Common stock, Outstanding | 103,033,323 | 89,623,323 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
Consolidated Statements of Operations | ||
Revenues | $ 0 | $ 0 |
Operating Expenses | ||
General and administrative | 7,300 | 12,753 |
Professional fees | 39,773 | 0 |
Management compensation | 118,992 | 26,449 |
Total operating expenses | 166,065 | 39,202 |
Operating loss | (166,065) | (39,202) |
Other income (expense) | ||
Gain on settlement of debt - related party | 19,302 | (105,404) |
Gain loss on settlement of debt | 9,974 | 0 |
Total other income (expenses) | 29,276 | (105,404) |
Net loss | $ (136,789) | $ (144,606) |
Basic and diluted loss per common share | $ 0 | $ 0 |
Basic and diluted weighted average common shares outstanding | 92,509,487 | 89,623,323 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders Deficit - USD ($) | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit |
Balance, shares at Nov. 30, 2021 | 14,396,323 | |||
Balance, amount at Nov. 30, 2021 | $ (71,107) | $ 14,396 | $ 23,679 | $ (109,182) |
Common stock issued for settlement of debt - related party, shares | 65,227,000 | |||
Common stock issued for settlement of debt - related party, amount | 172,511 | $ 65,227 | 107,284 | 0 |
Common stock issued for compensation - related party, shares | 10,000,000 | |||
Common stock issued for compensation - related party, amount | 26,449 | $ 10,000 | 16,449 | 0 |
Net loss | (144,606) | $ 0 | 0 | (144,606) |
Balance, shares at Nov. 30, 2022 | 89,623,323 | |||
Balance, amount at Nov. 30, 2022 | (16,753) | $ 89,623 | 147,412 | (253,788) |
Common stock issued for compensation - related party, shares | 2,000,000 | |||
Common stock issued for compensation - related party, amount | 5,290 | $ 2,000 | 3,290 | 0 |
Net loss | (136,789) | $ 0 | 0 | (136,789) |
Common stock issued for settlement of debt- related party, shares | 10,000,000 | |||
Common stock issued for settlement of debt- related party, amount | 26,448 | $ 10,000 | 16,448 | 0 |
Common stock issued for settlement of debt, shares | 10,000 | |||
Common stock issued for settlement of debt, amount | 26 | $ 10 | 16 | 0 |
Common stock issued for services - related party, shares | 1,400,000 | |||
Common stock issued for services - related party, amount | 3,703 | $ 1,400 | 2,303 | 0 |
Balance, shares at Nov. 30, 2023 | 103,033,323 | |||
Balance, amount at Nov. 30, 2023 | $ (118,075) | $ 103,033 | $ 169,469 | $ (390,577) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (136,789) | $ (144,606) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation - related party | 8,993 | 26,449 |
Gain on settlement of debt - related party | (19,302) | 105,404 |
Gain on settlement of debt | (9,974) | 0 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (9,140) | 0 |
Accounts payable and accrued liabilities | 5,094 | 1,655 |
Accrued management fee - related party | 110,000 | 0 |
Net cash used in operating activities | (51,118) | (11,098) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related party | 51,118 | 11,098 |
Net cash provided by financing activities | 51,118 | 11,098 |
Net change in cash for the period | 0 | 0 |
Cash at beginning of period | 0 | 0 |
Cash at end of period | 0 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | 0 | 0 |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Common stock issued for settlement of debt - related party | 26,448 | 175,511 |
Common stock issued for settlement of debt | $ 26 | $ 0 |
ORGANIZATION, BUSINESS AND LIQU
ORGANIZATION, BUSINESS AND LIQUIDITY | 12 Months Ended |
Nov. 30, 2023 | |
ORGANIZATION, BUSINESS AND LIQUIDITY | |
ORGANIZATION, BUSINESS AND LIQUIDITY | NOTE 1 – ORGANIZATION, BUSINESS AND LIQUIDITY Business AMJ Global Technology (the ‘Company’) was incorporated under the laws of the State of Nevada on August 16, 2013, originally incorporated as Kange Corp. Effective April 22, 2023, the Company filed with the State of Nevada a Certificate of Amendment to its Articles of Incorporation, changing the name of the Company to AMJ Global Technology. We are a start-up company developing mobile software products, starting in Estonia and Europe, which is our initial intended market. Apple is a trademark of Apple Inc., and Android is a trademark of Alphabet Inc. During 2017, we began focusing on the intersection of technology and wholistic technology-based health treatments. We retained an advisor having substantial experience in the technology sector, and two former professional athletes to advise us regarding sports health issues and treatments. We intend to provide services to formulate a treatment model to meet the needs of professional athletes that suffer from PTSD and the early onset of dementia and Alzheimer’s. The Company is currently evaluating operations in the wholistic health industry. On April 26, 2023, the Company entered into an assignment agreement with AMJ Global Entertainment, LLC, a Nevada limited liability company controlled by the Company’s CEO and director., pursuant to which AMJ Global Entertainment, LLC assigned to the Company 25% of the ownership rights to AMJ Global Entertainment’s intellectual property in connection with the “Blabeey” platform, including software, code and trade secrets at zero cost. Going Concern The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company used cash in operating activities of $51,118 for the year ended November 30, 2023. The Company had an accumulated deficit of $390,577 at November 30, 2023. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s continuation as a going concern is dependent upon its ability to generate revenues and its ability to continue receiving investment capital and loans from related parties to sustain its current level of operations. The Company is in the process of securing working capital from investors for common stock, convertible notes payable, and/or strategic partnerships. No assurance can be given that the Company will be successful in these efforts. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Nov. 30, 2023 | |
SIGNIFICANT ACCOUNTING POLICIES | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. Fair Value of Financial Instruments The Company’s consolidated financial instruments, including accounts payable, accrued expenses, and due to related parties are carried at historical cost. At November 30, 2023 and 2022, the carrying amounts of these instruments approximated their fair values because of the short-term nature of these instruments. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP 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 expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. Share-Based Expense ASC 718, “Compensation - Stock Compensation,” prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). Net Loss per Share of Common Stock In accordance with ASC 260, “Earnings per Share,” basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period, which are excluded from the computation if anti-dilutive. There are no dilutive or potentially dilutive securities outstanding during the periods presented. Income Taxes Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The deferred tax assets of the Company relate primarily to operating loss carryforwards for federal income tax purposes. A full valuation allowance for deferred tax assets has been provided because the Company believes it is not more likely than not that the deferred tax asset will be realized. Realization of deferred tax assets is dependent on the Company generating sufficient taxable income in future periods. The Company periodically evaluates its tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by a tax authority for all open tax years, as defined by the statute of limitations, based on their technical merits. As of November 30, 2023, and 2022, the Company has not established a liability for uncertain tax positions. Recent Accounting Pronouncements The Company reviews new accounting pronouncements as issued. No new pronouncements had any material effect on these financial statements. The accounting pronouncements issued subsequent to the date of these consolidated financial statements that were considered significant by management were evaluated for the potential effect on these consolidated financial statements. Management does not believe any of the subsequent pronouncements will have a material effect on these financial statements as presented and does not anticipate the need for any future restatement of these financial statements because of the retro-active application of any accounting pronouncements issued subsequent to November 30, 2023 through the date these consolidated financial statements were issued. Restatement of Previously Issued Financial Statements The Company has restated amounts reported in previously issued financial statements for the periods presented in this Annual Report on Form 10-K relating to errors. The restated amounts relate to share values utilized to settle transactions with related parties. The following tables present the restatement to the line items of our previously issued financial statements to reflect the correction of errors: Statements of Operations : December 31,2022 As Reported Adjustment As Restated Management compensation $ 273,074 $ (246,625 ) $ 26,449 Loss on settlement of debt- related party $ 1,714,069 $ (1,608,665 ) $ 105,404 Net loss $ (1,999,896 ) $ 1,855,290 $ (144,606 ) Balance Sheets: December 31,2021 As Reported Adjustment As Restated Additional paid -in-capital $ 1,276,084 $ (1,252,405 ) $ 23,679 Accumulated deficit $ (1,361,587 ) $ 1,252,405 $ (109,182 ) December 31,2022 As Reported Adjustment As Restated Additional paid -in-capital $ 3,255,107 $ (3,107,695 ) $ 147,412 Accumulated deficit $ (3,361,483 ) $ 3,107,695 $ (253,788 ) Statements of Changes in Stockholder's Deficit: December 31,2021 As Reported Adjustment As Restated Additional paid -in-capital $ 1,276,084 $ (1,252,405 ) $ 23,679 Accumulated deficit $ (1,361,587 ) $ 1,252,405 $ (109,182 ) December 31,2022 As Reported Adjustment As Restated Additional paid -in-capital $ 3,255,107 $ (3,107,695 ) $ 147,412 Accumulated deficit $ (3,361,483 ) $ 3,107,695 $ (253,788 ) Statements of Cash Flows December 31,2022 As Reported Adjustment As Restated Net Loss $ (1,999,896 ) $ 1,855,290 $ (144,606 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock based compensation - related party $ 273,074 $ (246,625 ) $ 26,449 Loss on settlement of debt - related party $ 1,714,069 $ (1,608,665 ) $ 105,404 Income Taxes December 31,2022 As Reported Adjustment As Restated Income tax expenses at statuary rate $ (362,633 ) $ 332,266 $ (30,367 ) NOL Carryover $ 528,047 $ (581,342 ) $ (53,295 ) Valuation allowance $ (528,047 ) $ 581,342 $ 53,295 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Nov. 30, 2023 | |
RELATED PARTY TRANSACTIONS | |
RELATED PARTY TRANSACTIONS | NOTE 3 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such a time that the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are non-interest bearing, considered temporary in nature, and have not been formalized by a promissory note. During the years ended November 30, 2023 and 2022, AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director advanced to the Company an amount of $51,118 and $11,098, respectively, by paying for operating expenses on behalf of the Company. During the years ended November 30, 2023 and 2022, the Company accrued management fees of $110,000 and $0, respectively. During the years ended November 30, 2023 and 2022, the Company’s board of directors approved the issuance of 10,000,000 and 65,227,000 shares of common stock for settlement of $45,751 and $67,107 due to AMJ Global Entertainment, LLC, a related party controlled by the Company’s CEO and director, respectively. The shares were valued at $26,448 and $172,511, resulting in a gain (loss) of settlement on debt of $19,302 and ($105,404), respectively. During the years ended November 30, 2023 and 2022, the Company’s board of directors approved the issuance of 2,000,000 and 10,000,000 shares of common stock as a one-time bonus to the Company’s CEO for services rendered as CEO and director, respectively. The Company valued the shares and recognized compensation of $5,290 and $26,448 for the issuance of 2,000,000 and 10,000,000 shares of common stock, respectively. During the year ended November 30, 2023, the Company’s board of directors approved to appoint advisory board members and has determined six advisors. The Company’s board of directors approved issuing 250,000 shares of common stock to each of the five advisors and 150,000 shares of common stock to another advisor as compensation for serving as the advisory board. According to advisory board member agreements, the advisor shall be entitled to an additional 150,000 shares of common stock on one year anniversary. The advisory agreement shall expire upon written notice by the Company to the advisor. During the year ended November 30, 2023 the Company issued 1,400,000 shares of common stock to six advisors. The Company valued the shares and recognized compensation of $3,703 for issuance of 1,400,000 shares of common stock. On April 26, 2023, the Company entered into an assignment agreement with AMJ Global Entertainment, LLC, a Nevada limited liability company controlled by the Company’s CEO and director, pursuant to which AMJ Global Entertainment assigned to the Company 25% of the ownership rights to AMJ Global Entertainment’s intellectual property in connection with the “Blabeey” platform, including software, code and trade secrets at zero cost. At November 30, 2023 and 2022, the Company owed $16,465 and $11,098, respectively, to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director. The amount is unsecured, non-interest bearing and due on demand. |
COMMON STOCK
COMMON STOCK | 12 Months Ended |
Nov. 30, 2023 | |
COMMON STOCK | |
COMMON STOCK | NOTE 4 – COMMON STOCK Common Stock The Company has authorized common shares of 750,000,000, par value $0.001 per share. Each outstanding share of common stock entitles the holder to one vote per share on all matters submitted to a stockholder vote. All shares of common stock are non-assessable and non-cumulative, with no pre-emptive rights. On January 27, 2022, the Company adopted the Board Resolution and issued 65,227,000 shares of common stock against amount owed to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director, and 10,000,000 shares of common stock as stock - based compensation to the Company’s CEO and director (see Note 3). On September 27, 2023, the Company adopted the Board Resolution and issued 10,000,000 shares of common stock against amount owed to AMJ Global Entertainment LLC, a related party controlled by the Company’s CEO and director, and 2,000,000 shares of common stock as stock - based compensation to the Company’s CEO and director (see Note 3). On March 9, 2023 and September 27, 2023, the Company issued 900,000 and 500,000 shares of common stock to the Company’s board advisors as advisory fees (see Note 3). On October 4, 2023, the Company issued 10,000 shares of common stock for settlement of debt to a vendor. The shares were valued at $26, resulting in a gain of settlement on debt of $9,974. There were 103,033,323 and 89,623,323 shares of common stock issued and outstanding as of November 30, 2023 and 2022, respectively. |
LOSS PER SHARE
LOSS PER SHARE | 12 Months Ended |
Nov. 30, 2023 | |
LOSS PER SHARE | |
LOSS PER SHARE | NOTE 5 – LOSS PER SHARE The following represents of the numerators and denominators of the basic and diluted loss per shares for the years ended December 31,2023 and 2022: December 31 December 31 2023 2022 As Restated Net loss $ (136,789 ) $ (144,606 ) Basic and diluted weighted average common shares outstanding 92,509,487 89,623,323 Basic and diluted loss per common share (0.00 ) (0.00 ) |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Nov. 30, 2023 | |
INCOME TAXES | |
INCOME TAXES | NOTE 6 – INCOME TAXES The Company’s tax expense differs from the “expected” tax expense for Federal income tax purposes (computed by applying the United States Federal tax rate of 21% to loss before taxes), as follows: For the Years Ended November 30, 2023 2022 As Restated Income tax expense at statutory rate $ (26,837 ) $ (30,367 ) Change in valuation allowance 26,837 30,367 Income tax expense per books $ - $ - The tax effects of the temporary differences between reportable consolidated financial statement income and taxable income are recognized as deferred tax assets and liabilities. The tax effect of significant components of the Company’s deferred tax assets and liabilities at November 30, 2023 and 2022, respectively, are as follows: For the Years Ended November 30, 2023 2022 As Restated NOL Carryover $ 80,132 $ 53,295 Valuation allowance (80,132 ) (53,295 ) Net deferred tax asset $ - $ - In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Because of the historical earnings history of the Company, the net deferred tax asset for 2023 was fully offset by a 100% valuation allowance. The valuation allowance for the remaining net deferred tax assets was $80,132 and $53,295 as of November 30, 2023 and 2022, respectively. The Company’s tax returns are subject to examination by tax authorities. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Nov. 30, 2023 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | NOTE 7 – SUBSEQUENT EVENTS The Company has evaluated events occurring subsequent to the balance sheet date through the date these consolidated financial statements were issued and determined there are no additional events requiring disclosure. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Nov. 30, 2023 | |
SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | The accompanying consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. |
Fair Value of Financial Instruments | The Company’s consolidated financial instruments, including accounts payable, accrued expenses, and due to related parties are carried at historical cost. At November 30, 2023 and 2022, the carrying amounts of these instruments approximated their fair values because of the short-term nature of these instruments. |
Use of Estimates | The preparation of consolidated financial statements in conformity with GAAP 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 expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. |
Share-Based Expense | ASC 718, “Compensation - Stock Compensation,” prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). |
Net Loss per Share of Common Stock | In accordance with ASC 260, “Earnings per Share,” basic net earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed using the weighted average number of common and dilutive common stock equivalent shares outstanding during the period, which are excluded from the computation if anti-dilutive. There are no dilutive or potentially dilutive securities outstanding during the periods presented. |
Income Taxes | Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The deferred tax assets of the Company relate primarily to operating loss carryforwards for federal income tax purposes. A full valuation allowance for deferred tax assets has been provided because the Company believes it is not more likely than not that the deferred tax asset will be realized. Realization of deferred tax assets is dependent on the Company generating sufficient taxable income in future periods. The Company periodically evaluates its tax positions to determine whether it is more likely than not that such positions would be sustained upon examination by a tax authority for all open tax years, as defined by the statute of limitations, based on their technical merits. As of November 30, 2023, and 2022, the Company has not established a liability for uncertain tax positions. |
Recent Accounting Pronouncements | The Company reviews new accounting pronouncements as issued. No new pronouncements had any material effect on these financial statements. The accounting pronouncements issued subsequent to the date of these consolidated financial statements that were considered significant by management were evaluated for the potential effect on these consolidated financial statements. Management does not believe any of the subsequent pronouncements will have a material effect on these financial statements as presented and does not anticipate the need for any future restatement of these financial statements because of the retro-active application of any accounting pronouncements issued subsequent to November 30, 2023 through the date these consolidated financial statements were issued. |
Restatement of Previously Issued Financial Statements | The Company has restated amounts reported in previously issued financial statements for the periods presented in this Annual Report on Form 10-K relating to errors. The restated amounts relate to share values utilized to settle transactions with related parties. The following tables present the restatement to the line items of our previously issued financial statements to reflect the correction of errors: Statements of Operations : December 31,2022 As Reported Adjustment As Restated Management compensation $ 273,074 $ (246,625 ) $ 26,449 Loss on settlement of debt- related party $ 1,714,069 $ (1,608,665 ) $ 105,404 Net loss $ (1,999,896 ) $ 1,855,290 $ (144,606 ) Balance Sheets: December 31,2021 As Reported Adjustment As Restated Additional paid -in-capital $ 1,276,084 $ (1,252,405 ) $ 23,679 Accumulated deficit $ (1,361,587 ) $ 1,252,405 $ (109,182 ) December 31,2022 As Reported Adjustment As Restated Additional paid -in-capital $ 3,255,107 $ (3,107,695 ) $ 147,412 Accumulated deficit $ (3,361,483 ) $ 3,107,695 $ (253,788 ) Statements of Changes in Stockholder's Deficit: December 31,2021 As Reported Adjustment As Restated Additional paid -in-capital $ 1,276,084 $ (1,252,405 ) $ 23,679 Accumulated deficit $ (1,361,587 ) $ 1,252,405 $ (109,182 ) December 31,2022 As Reported Adjustment As Restated Additional paid -in-capital $ 3,255,107 $ (3,107,695 ) $ 147,412 Accumulated deficit $ (3,361,483 ) $ 3,107,695 $ (253,788 ) Statements of Cash Flows December 31,2022 As Reported Adjustment As Restated Net Loss $ (1,999,896 ) $ 1,855,290 $ (144,606 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock based compensation - related party $ 273,074 $ (246,625 ) $ 26,449 Loss on settlement of debt - related party $ 1,714,069 $ (1,608,665 ) $ 105,404 Income Taxes December 31,2022 As Reported Adjustment As Restated Income tax expenses at statuary rate $ (362,633 ) $ 332,266 $ (30,367 ) NOL Carryover $ 528,047 $ (581,342 ) $ (53,295 ) Valuation allowance $ (528,047 ) $ 581,342 $ 53,295 |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Nov. 30, 2023 | |
SIGNIFICANT ACCOUNTING POLICIES | |
Schedule of restatement of financial statements | Statements of Operations : December 31,2022 As Reported Adjustment As Restated Management compensation $ 273,074 $ (246,625 ) $ 26,449 Loss on settlement of debt- related party $ 1,714,069 $ (1,608,665 ) $ 105,404 Net loss $ (1,999,896 ) $ 1,855,290 $ (144,606 ) Balance Sheets: December 31,2021 As Reported Adjustment As Restated Additional paid -in-capital $ 1,276,084 $ (1,252,405 ) $ 23,679 Accumulated deficit $ (1,361,587 ) $ 1,252,405 $ (109,182 ) December 31,2022 As Reported Adjustment As Restated Additional paid -in-capital $ 3,255,107 $ (3,107,695 ) $ 147,412 Accumulated deficit $ (3,361,483 ) $ 3,107,695 $ (253,788 ) Statements of Changes in Stockholder's Deficit: December 31,2021 As Reported Adjustment As Restated Additional paid -in-capital $ 1,276,084 $ (1,252,405 ) $ 23,679 Accumulated deficit $ (1,361,587 ) $ 1,252,405 $ (109,182 ) December 31,2022 As Reported Adjustment As Restated Additional paid -in-capital $ 3,255,107 $ (3,107,695 ) $ 147,412 Accumulated deficit $ (3,361,483 ) $ 3,107,695 $ (253,788 ) Statements of Cash Flows December 31,2022 As Reported Adjustment As Restated Net Loss $ (1,999,896 ) $ 1,855,290 $ (144,606 ) Adjustments to reconcile net loss to net cash used in operating activities: Stock based compensation - related party $ 273,074 $ (246,625 ) $ 26,449 Loss on settlement of debt - related party $ 1,714,069 $ (1,608,665 ) $ 105,404 |
Schedule of restatement of Income Tax | Income Taxes December 31,2022 As Reported Adjustment As Restated Income tax expenses at statuary rate $ (362,633 ) $ 332,266 $ (30,367 ) NOL Carryover $ 528,047 $ (581,342 ) $ (53,295 ) Valuation allowance $ (528,047 ) $ 581,342 $ 53,295 |
LOSS PER SHARE (Tables)
LOSS PER SHARE (Tables) | 12 Months Ended |
Nov. 30, 2023 | |
LOSS PER SHARE | |
Schedule Of basic and diluted loss per shares | December 31 December 31 2023 2022 As Restated Net loss $ (136,789 ) $ (144,606 ) Basic and diluted weighted average common shares outstanding 92,509,487 89,623,323 Basic and diluted loss per common share (0.00 ) (0.00 ) |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Nov. 30, 2023 | |
INCOME TAXES | |
Federal income tax expense | For the Years Ended November 30, 2023 2022 As Restated Income tax expense at statutory rate $ (26,837 ) $ (30,367 ) Change in valuation allowance 26,837 30,367 Income tax expense per books $ - $ - |
Deferred tax assets and liabilities | For the Years Ended November 30, 2023 2022 As Restated NOL Carryover $ 80,132 $ 53,295 Valuation allowance (80,132 ) (53,295 ) Net deferred tax asset $ - $ - |
ORGANIZATION, BUSINESS AND LI_2
ORGANIZATION, BUSINESS AND LIQUIDITY (Detail Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Apr. 26, 2023 | Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2021 | |
Accumulated deficit | $ (390,577) | $ (253,788) | $ (109,182) | |
Net cash used in operating activities | $ (51,118) | $ (11,098) | ||
Common Stock | AMJ Global Entertainment LLC [Member] | ||||
Right of owenership | 25% |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | 12 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
Management compensation | $ 26,449 | |
Loss on settlement of debt - related party | $ 19,302 | (105,404) |
Net loss | $ (136,789) | (144,606) |
As Reported [Member] | ||
Management compensation | 273,074 | |
Loss on settlement of debt - related party | 1,714,069 | |
Net loss | (1,999,896) | |
Adjustment [Member] | ||
Management compensation | 246,625 | |
Loss on settlement of debt - related party | (1,608,665) | |
Net loss | $ 1,855,290 |
SIGNIFICANT ACCOUNTING POLICI_5
SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($) | Nov. 30, 2023 | Nov. 30, 2022 | Nov. 30, 2021 |
Additional paid-in capital | $ 169,469 | $ 147,412 | $ 23,679 |
Accumulated deficit | $ (390,577) | (253,788) | (109,182) |
As Reported [Member] | |||
Additional paid-in capital | 3,255,107 | 1,276,084 | |
Accumulated deficit | (3,361,483) | (1,361,587) | |
Adjustment [Member] | |||
Additional paid-in capital | (3,107,695) | (1,252,405) | |
Accumulated deficit | $ 3,107,695 | $ 1,252,405 |
SIGNIFICANT ACCOUNTING POLICI_6
SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) | 12 Months Ended | |
Nov. 30, 2022 | Nov. 30, 2021 | |
Additional paid in capital | $ 147,412 | $ 23,679 |
Accumulated deficit | (253,788) | (109,182) |
As Reported [Member] | ||
Additional paid in capital | 3,255,107 | 1,276,084 |
Accumulated deficit | (3,361,483) | (1,361,587) |
Adjustment [Member] | ||
Additional paid in capital | (3,107,695) | (1,252,405) |
Accumulated deficit | $ 3,107,695 | $ 1,252,405 |
SIGNIFICANT ACCOUNTING POLICI_7
SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($) | 12 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
Net loss | $ (136,789) | $ (144,606) |
Stock based compensation - related party | 8,993 | 26,449 |
Loss on settlement of debt - related party | $ 19,302 | (105,404) |
As Reported [Member] | ||
Net loss | (1,999,896) | |
Stock based compensation - related party | 273,074 | |
Loss on settlement of debt - related party | 1,714,069 | |
Adjustment [Member] | ||
Net loss | 1,855,290 | |
Stock based compensation - related party | (246,625) | |
Loss on settlement of debt - related party | $ (1,608,665) |
SIGNIFICANT ACCOUNTING POLICI_8
SIGNIFICANT ACCOUNTING POLICIES (Details 4) - USD ($) | 12 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
Income tax expense at statutory rate | $ (26,837) | $ (30,367) |
NOL Carryover | (80,132) | (53,295) |
Valuation allowance | 80,132 | 53,295 |
Valuation allowance | $ (80,132) | (53,295) |
As Reported [Member] | ||
Income tax expense at statutory rate | (362,633) | |
Valuation allowance | 528,047 | |
NOL Carryover | 528,047 | |
Valuation allowance | (528,047) | |
Adjustment [Member] | ||
Income tax expense at statutory rate | 332,266 | |
NOL Carryover | (581,342) | |
Valuation allowance | 581,342 | |
Valuation allowance | $ (581,342) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Mar. 05, 2023 | Nov. 30, 2023 | Nov. 30, 2022 | Apr. 26, 2023 | |
Compensation | $ 8,993 | $ 26,449 | ||
Due to related party | $ 16,465 | $ 11,098 | ||
Common stock issued | 103,033,323 | 89,623,323 | ||
Common stock issued for settlement of debt related party | $ 26 | $ 0 | ||
Proceeds from related party | 51,118 | 11,098 | ||
Accrued management fees | 118,992 | 26,449 | ||
Common stock market value | 103,033 | 89,623 | ||
Board Of Directors [Member] | ||||
Compensation | $ 5,290 | $ 26,448 | ||
Common stock issued | 1,400,000 | |||
Common stock issued for services | 2,000,000 | 10,000,000 | ||
Issuance of shares of common stock based on the market price | 2,000,000 | 10,000,000 | ||
Accrued management fees | $ 110,000 | $ 0 | ||
Common stock market value | 1,400,000 | |||
Recognized compensation | 3,703 | |||
Discription of share issued to advisors | The Company’s board of directors approved issuing 250,000 shares of common stock to each of the five advisors and 150,000 shares of common stock to another advisor as compensation for serving as the advisory board. According to advisory board member agreements, the advisor shall be entitled to an additional 150,000 shares of common stock on one year anniversary. The advisory agreement shall expire upon written notice by the Company to the advisor | |||
AMJ Global Entertainment LLC [Member] | ||||
Due to related party owed | $ 16,465 | 11,098 | ||
Due to related party | $ 11,098 | |||
Right of owenership | 25% | |||
Common stock issued | 10,000,000 | 65,227,000 | ||
Common stock issued for settlement of debt related party | $ 45,751 | $ 67,107 | ||
Common stock value | 26,448 | 172,511 | ||
Loss of settlement | $ 19,302 | $ (105,404) |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | 1 Months Ended | |||||
Jan. 27, 2022 | Nov. 30, 2023 | Oct. 04, 2023 | Sep. 27, 2023 | Mar. 09, 2023 | Nov. 30, 2022 | |
Common stock, Authorized | 750,000,000 | 750,000,000 | ||||
Common stock, Par value | $ 0.001 | $ 0.001 | ||||
Common Stock, Shares Issued | 103,033,323 | 89,623,323 | ||||
Common stock against amount owed | 10,000,000 | |||||
Common stock as stock - based compensation | 2,000,000 | |||||
Common stock for settlement of debt | 10,000 | |||||
Shares valued | $ 26 | |||||
Gain on settlement of debt | $ 9,974 | |||||
Common stock, Shares Outstanding | 103,033,323 | 89,623,323 | ||||
Common Stock And Share Member | ||||||
Stock based compensation | 10,000,000 | |||||
Common Stock, Shares Issued | 65,227,000 | |||||
Common Stock And Share Member | Advisory Fees Member | ||||||
Common Stock, Shares Issued | 500,000 | 900,000 |
LOSS PER SHARE (Details)
LOSS PER SHARE (Details) - USD ($) | 12 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
LOSS PER SHARE | ||
Net loss | $ (136,789) | $ (144,606) |
Basic and diluted weighted average common shares outstanding | 92,509,487 | 89,623,323 |
Basic and diluted loss per common share | $ 0 | $ 0 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
INCOME TAXES | ||
Income tax expense at statutory rate | $ (26,837) | $ (30,367) |
Change in valuation allowance | 26,837 | 30,367 |
Income tax expense per books | $ 0 | $ 0 |
INCOME TAXES (Details 1)
INCOME TAXES (Details 1) - USD ($) | Nov. 30, 2023 | Nov. 30, 2022 |
INCOME TAXES | ||
NOL Carryover | $ 80,132 | $ 53,295 |
Valuation allowance | (80,132) | (53,295) |
Net deferred tax asset | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Nov. 30, 2023 | Nov. 30, 2022 | |
INCOME TAXES | ||
Deferred tax asset valuation allowance | $ 80,132 | $ 53,295 |
Valuation allowance | 100% | |
United States Federal tax rate | 21% |