Mirage Energy (MRGE) 10-Q 2 Jun 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jan. 31, 2021	Jun. 01, 2021
Cover [Abstract]
Entity Registrant Name	MIRAGE ENERGY CORPORATION
Entity Central Index Key	0001623360
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jan. 31, 2021
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		473,318,407
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Current Assets
Cash and cash equivalents	$ 58,730	$ 166,941
Prepaid expenses	23,664	9,559
Total Current Assets	82,394	176,500
Property, plant and equipment, net	658	1,449
Other Assets
Deposits	6,921	6,921
Total Other Assets	6,921	6,921
TOTAL ASSETS	89,973	184,870
Current Liabilities
Accounts payable and accrued liabilities	914,357	836,290
Loan payable	127,844	127,844
Convertible debentures	981,601	281,351
Accrued salaries and payroll taxes, related parties	1,788,765	1,795,071
Total Current Liabilities	3,812,567	3,040,556
Long-Term Liabilities
Loan payable	2,167	1,234
TOTAL LIABILITIES	3,814,734	3,041,790
STOCKHOLDERS' DEFICIT
Preferred stock, par value $0.001, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding as of January 31, 2021 and July 31, 2020	10,000	10,000
Common stock, par value $0.001, 900,000,000 shares authorized, 470,476,740 shares issued and outstanding as of January 31, 2021; 462,730,684 shares issued and outstanding as of July 31, 2020	470,477	462,731
Stock subscription receivable	0	(20,000)
Additional paid-in capital	9,427,741	8,597,401
Accumulated deficit	(13,632,879)	(11,906,952)
Accumulated other comprehensive loss	(100)	(100)
TOTAL STOCKHOLDERS' DEFICIT	(3,724,761)	(2,856,920)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 89,973	$ 184,870

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2021	Jul. 31, 2020
STOCKHOLDERS' DEFICIT
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	10,000,000	10,000,000
Preferred stock, shares outstanding	10,000,000	10,000,000
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	470,476,740	462,730,684
Common stock, shares outstanding	470,476,740	462,730,684

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
OPERATING EXPENSES
General and administrative expenses	$ 281,117	$ 222,983	$ 809,533	$ 485,958
Professional fees	7,420	15,555	20,570	55,846
Total Operating Expenses	288,537	238,538	830,103	541,804
LOSS BEFORE OPERATIONS	(288,537)	(238,538)	(830,103)	(541,804)
OTHER EXPENSE
Interest expense	21,049	25,416	28,491	43,044
Change in fair value of convertible debt	436,820	503,085	729,083	609,348
Penalty on convertible debt	138,250	0	138,250	0
Total Other Expense	596,119	528,501	895,824	652,392
LOSS BEFORE INCOME TAXES	(884,656)	(767,039)	(1,725,927)	(1,194,196)
NET LOSS	(884,656)	(767,039)	(1,725,927)	(1,194,196)
TOTAL COMPREHENSIVE LOSS	$ (884,656)	$ (767,039)	$ (1,725,927)	$ (1,194,196)
Basic and Diluted Loss per Common Share	$ 0	$ 0	$ 0	$ 0
Basic and Diluted Weighted Average Common Shares Outstanding	470,301,740	417,852,298	469,215,407	414,896,063

Statement of Stockholders (Defi

Statement of Stockholders (Deficit) (Unaudited) - USD ($)	Total	Common Stock	Preferred Stock	Accumulated other comprehensive loss	Additional Paid-In Capital	Accumulated Earnings (Deficit)	Stock Sub. Rec.
Balance, shares at Jul. 31, 2019		406,886,489	10,000,000
Balance, amount at Jul. 31, 2019	$ (3,149,782)	$ 406,886	$ 10,000	$ (100)	$ 2,986,180	$ (6,552,748)
Common shares issued for conversion of debt and interest, shares		4,830,016
Common shares issued for conversion of debt and interest, amount	352,591	$ 4,830	$ 0	0	347,761	0
Sale of common stock, shares		2,000,000
Sale of common stock, amount	80,000	$ 2,000	$ 0	0	78,000	0
Common stock warrants issued and valued	6,595	$ 0	$ 0	0	6,595	0
Common shares issued for exercise of warrants, shares		3,696,973
Common shares issued for exercise of warrants, amount	0	$ 3,697	$ 0	0	(3,697)	0
Net loss	(427,157)	$ 0	$ 0	0	0	(427,157)
Balance, shares at Oct. 31, 2019		417,413,478	10,000,000
Balance, amount at Oct. 31, 2019	(3,137,753)	$ 417,413	$ 10,000	(100)	3,414,839	(6,979,905)
Balance, shares at Jul. 31, 2019		406,886,489	10,000,000
Balance, amount at Jul. 31, 2019	(3,149,782)	$ 406,886	$ 10,000	(100)	2,986,180	(6,552,748)
Net loss	(1,194,196)
Balance, shares at Jan. 31, 2020		421,613,478	10,000,000
Balance, amount at Jan. 31, 2020	(3,757,792)	$ 421,613	$ 10,000	(100)	3,557,639	(7,746,944)
Balance, shares at Oct. 31, 2019		417,413,478	10,000,000
Balance, amount at Oct. 31, 2019	(3,137,753)	$ 417,413	$ 10,000	(100)	3,414,839	(6,979,905)
Sale of common stock, shares		4,200,000
Sale of common stock, amount	147,000	$ 4,200	$ 0	0	142,800	0
Net loss	(767,039)	$ 0	$ 0	0	0	(767,039)
Balance, shares at Jan. 31, 2020		421,613,478	10,000,000
Balance, amount at Jan. 31, 2020	(3,757,792)	$ 421,613	$ 10,000	(100)	3,557,639	(7,746,944)
Balance, shares at Jul. 31, 2020		462,730,684	10,000,000
Balance, amount at Jul. 31, 2020	(2,856,920)	$ 462,731	$ 10,000	(100)	8,597,401	(11,906,952)	$ (20,000)
Common shares issued for conversion of debt and interest, shares		2,564,695
Common shares issued for conversion of debt and interest, amount	503,449	$ 2,565	$ 0	0	500,884	0	0
Common shares issued for exercise of warrants, shares		4,235,111
Common shares issued for exercise of warrants, amount	0	$ 4,235	$ 0	0	(4,235)	0	0
Net loss	(841,271)	$ 0	$ 0	0	0	(841,271)	0
Restricted shares issued for consulting services and fees, shares		1,246,250
Restricted shares issued for consulting services and fees, amount	286,637	$ 1,246	$ 0	0	285,391	0	0
Common shares cancelled, shares		(500,000)
Common shares cancelled, amount	0	$ (500)	$ 0	0	(19,500)	0	20,000
Balance, shares at Oct. 31, 2020		470,276,740	10,000,000
Balance, amount at Oct. 31, 2020	(2,908,105)	$ 470,277	$ 10,000	(100)	9,359,941	(12,748,223)	0
Balance, shares at Jul. 31, 2020		462,730,684	10,000,000
Balance, amount at Jul. 31, 2020	(2,856,920)	$ 462,731	$ 10,000	(100)	8,597,401	(11,906,952)	(20,000)
Net loss	(1,725,927)
Balance, shares at Jan. 31, 2021		470,476,740	10,000,000
Balance, amount at Jan. 31, 2021	(3,724,761)	$ 470,477	$ 10,000	(100)	9,427,741	(13,632,879)	0
Balance, shares at Oct. 31, 2020		470,276,740	10,000,000
Balance, amount at Oct. 31, 2020	(2,908,105)	$ 470,277	$ 10,000	(100)	9,359,941	(12,748,223)	0
Net loss	(884,656)	$ 0	$ 0			(884,656)	0
Restricted shares issued for consulting services and fees, shares		200,000
Restricted shares issued for consulting services and fees, amount	68,000	$ 200	$ 0		67,800	0	0
Balance, shares at Jan. 31, 2021		470,476,740	10,000,000
Balance, amount at Jan. 31, 2021	$ (3,724,761)	$ 470,477	$ 10,000	$ (100)	$ 9,427,741	$ (13,632,879)	$ 0

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,725,927)	$ (1,194,196)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Depreciation expense	791	791
Financing fees	13,500	34,298
Loss on change in fair value of convertible debt	729,083	609,347
Penalty on convertible debt	138,250	0
Expenses paid by shareholder	8,945	16,611
Issuance of stock for services and fees	354,637	0
Changes in operating assets and liabilities:
Prepaid expenses	(14,105)	(107)
Accounts payable	78,999	110,657
Accrued expenses	5,867	5,250
Accrued salaries and payroll taxes, related parties	(6,306)	(56,991)
Net cash (used) in operating activities	(416,266)	(474,340)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loan, related party	0	1,000
Repayments of loan, related party	(8,945)	(17,611)
Proceeds from sale of common stock	0	227,000
Proceeds from sale of convertible debt	317,000	297,500
Net cash provided by financing activities	308,055	507,889
Net increase (decrease) in cash	(108,211)	33,549
Cash and cash equivalents - beginning of period	166,941	70,456
Cash and cash equivalents - end of period	58,730	104,005
Supplemental Cash Flow Disclosures
Cash paid for interest	1,409	134
Supplemental Non-Cash Activity Disclosures
Stock issued for convertible interest	33,235	31,778
Stock issued for convertible debt	470,214	320,813
Cashless exercise of warrants	4,235	3,697
Stock cancellation of stock subscription	$ 20,000	$ 0

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Jan. 31, 2021
ORGANIZATION AND DESCRIPTION OF BUSINESS
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	Mirage Energy Corporation (formerly Bridgewater Platforms Inc.) (the “Company”) is a Nevada corporation incorporated on May 6, 2014. On May 20, 2014, the Company incorporated a Canadian subsidiary known as Bridgewater Construction Ltd. in Ontario in association with its construction business. Mirage Energy Corporation is based at 900 Isom Rd Suite 306, San Antonio, TX 78216. The Company’s fiscal year end is July 31.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jan. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s 10-K filed with the Securities and Exchange Commission on November 19, 2020. Net Income (Loss) Per Share of Common Stock The Company has adopted ASC Topic 260, “Earnings per Share,” (“EPS”) which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying financial statements, basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus common stock equivalents (if dilutive) related to convertible debt, stock options and warrants for each year. In the period of net loss, diluted EPS calculation is not deemed necessary as the effect would be anti-dilutive. As of January 31, 2021 and July 31, 2020, the Company has convertible notes with a total base principal of $348,000 and $100,500, respectively, which become convertible in 180 days. There is a potential for 2,356,102 shares if the principal of $348,000 were converted at January 31, 2021. These notes will have a dilutive effect on common stock for the quarter ended January 31, 2021. The Company has 10,000,000 shares of Mirage’s Series A Preferred Stock which possess 20 votes per share and are convertible into 200,000,000 common shares. As of January 31, 2021, the Company no longer has any outstanding common stock purchase warrants. Basis of Consolidation These financial statements include the accounts of the Company and its wholly owned subsidiaries, 4Ward Resources, Inc., Cenote Energy, S. de R.L. de C.V., WPF Transmission, Inc., and WPF Mexico Pipelines, S. de R.L. de C.V. All material intercompany balances and transactions have been eliminated. Financial Instruments The Company’s notes that have become convertible are subject to ASC Topic 480, “Distinguishing Liabilities from Equity,” as the debt is a mostly fixed amount to be settled with a variable number of shares. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases, which will amend current lease accounting to require lessees to recognize (i) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and (ii) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 does not significantly change lease accounting requirements applicable to lessors; however, certain changes were made to align, where necessary, lessor accounting with the lessee accounting model. This standard will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company has reviewed these provisions and will apply to the fiscal year which begins August 1, 2021, as we follow the private company effective dates as an Emerging Growth Company which have been extended due to COVID-19.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jan. 31, 2021
GOING CONCERN
NOTE 3 - GOING CONCERN	The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company had a net loss of $1,725,927 and had net cash used in operations of $416,266 for the six months ended January 31, 2021 and had an accumulated deficit and working capital deficit of $13,632,879 and $3,730,173 at that date. The Company has not established an ongoing source of revenues sufficient to cover its operating cost and requires additional capital to commence its operating plan. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These factors raise substantial doubt about its ability to continue as a going concern. / In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan to obtain such resources for the Company may include, but not be limited to: sales of equity instruments; traditional financing, such as loans; sale of participation interests and obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

DEBT

DEBT	6 Months Ended
	Jan. 31, 2021
DEBT
NOTE 4 - DEBT	As of January 31, 2021, the number of shares of common stock that can be issued for convertible debt are 2,356,102, which have not been converted as of this filing date. For the six months ended January 31, 2021, the Company received proceeds of $317,000 from convertible notes, which was net of $13,500 in fees deducted and converted $503,449 of convertible notes and interest. There was a $729,083 loss on change in fair value of convertible debt in total. For the year ended July 31, 2020, the Company received proceeds of $297,500 from convertible notes, which was net of $30,500 in fees deducted and converted $4,921,471 of convertible notes and interest. There was a $3,991,040 loss on change in fair value of convertible debt in total. A summary of debt at January 31, 2021 and July 31, 2020 is as follows: January 31, July 31, 2021 2020 Note, unsecured interest bearing at 2% per annum, due July 9, 2020 $ 50,000 $ 50,000 Note, unsecured interest bearing at 7.5% per annum, due April 15, 2018. This was an accounts payable bill that was converted to a loan as per Note 7 Commitments and Contingencies. This note is now in default as of April 16, 2018 and has a default interest of 17.5%. 77,844 77,844 Convertible debenture, unsecured, interest bearing at 12% per annum, issued June 12, 2018 in the amount of $18,000 with fees of $0 and cash proceeds of $18,000 which was paid directly to the vendor in the year ended July 31, 2018, convertible at December 9, 2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of March 30, 2019. This note became convertible on December 9, 2018. This note defaulted on November 14, 2018 and a default penalty of $9,000 was added to the note for a total of $27,000 and incurred default interest rate of 22%. The convertible note had a net gain on change in fair value of $6,877. 62,497 69,374 - 211,977 Convertible debenture, unsecured, interest bearing at 10% per annum, issued September 21, 2020 in the amount of $153,000 with fees of $3,000 and cash proceeds of $150,000, convertible at March 20, 2021 with conversion price at a discount rate of 39% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to conversion date; maturity date of July 21, 2021. This note defaulted on November 4, 2020 and a default penalty of $76,500 was added to the note for a total of $229,500. The note became immediately convertible. The convertible note had a loss in net change in fair value of $249,478. 478,978 - Convertible debenture, unsecured, interest bearing at 10% per annum, issued October 12, 2020 in the amount of $68,000 with fees of $3,000 and cash proceeds of $65,000, convertible at April 10, 2021 with conversion price at a discount rate of 39% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to conversion date; maturity date of August 12, 2021. This note defaulted on November 4, 2020 and a default penalty of $34,000 was added to the note for a total of $102,000. The note became immediately convertible. The convertible note had a loss in net change in fair value of $110,879. 212,879 - Convertible debenture, unsecured, interest bearing at 10% per annum, issued December 9, 2020 in the amount of $55,500 with fees of $3,500 and cash proceeds of $52,000, convertible at June 7, 2021 with conversion price at a discount rate of 39% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to conversion date; maturity date of September 9, 2021. This note defaulted on December 21, 2020 and a default penalty of $27,750 was added to the note for a total of $83,250. The note became immediately convertible. The convertible note had a loss in net change in fair value of $90,497. 173,747 - Convertible debenture, unsecured, interest bearing at 10% per annum, issued January 12, 2021 in the amount of $53,500 with fees of $3,500 and cash proceeds of $50,000, convertible at July 11, 2021 with conversion price at a discount rate of 39% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to conversion date; maturity date of November 12, 2021. 53,500 - Remaining unpaid portion due AT&T regarding cell phone installments 2,167 1,234 Total Debt 1,111,612 410,429 Less: Current Maturities 1,109,445 409,195 Total Long-Term Debt $ 2,167 $ 1,234

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jan. 31, 2021
RELATED PARTY TRANSACTIONS
NOTE 5 - RELATED PARTY TRANSACTIONS	As of January 31, 2021, the CEO and two other members of management and one other employee had earned accrued unpaid salary in the amount of $1,716,410. Accrued salaries of $1,716,410 combined with accrued payroll taxes of $72,355 for a total accrued related party salaries and payroll tax of $1,788,765 for the period from June 2015 until January 31, 2021. Also, Mr. Michael Ward, President, was owed $8,945 for monies outlaid on behalf of the Company which was netted for $8,945 in payments received leaving a net due Mr. Ward of $0 at January 31, 2021. During the year ended July 31, 2020, Mr. Michael Ward, President, provided $10,100 directly to the Company during the year with an additional $29,642 owed for monies outlaid on behalf of the Company for a total loan amount of $39,742 which was netted for $39,742 in payments received leaving a net due Mr. Ward of $0 at July 31, 2020.

LEASES

LEASES	6 Months Ended
	Jan. 31, 2021
LEASES
NOTE 6 - LEASES	On June 9, 2016, the Company entered into a Lease Agreement for its San Antonio, Texas office lease location. The Lease Period was for three (3) years beginning July 1, 2016. On July 1, 2019, the Company entered into a First Amendment to Lease Agreement at same location. The landlord continues to hold $6,921 as security which is to be returned at the end of the new lease. The new Lease Period is three (3) years beginning July 1, 2019. The Company shall pay as additional rent all other sums of money as shall become due and payable by them under this Lease. To date after nineteen (19) months of this thirty-six (36) month lease, no such additional charges have been made. The Company has incurred rent expense in the amount of $43,465 and $84,906 for the six months ended January 31, 2021 and for the year ended July 31, 2020, respectively. Below is the schedule of rent for the remaining Lease term as of January 31, 2021. Year Ending Amount July 31, 2021 $ 42,453 July 31, 2022 84,906 Total Remaining Base Rent $ 127,359

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jan. 31, 2021
COMMITMENTS AND CONTINGENCIES
NOTE 7 - COMMITMENTS AND CONTINGENCIES	The Company committed to eighteen (18) months of Acquisition of Pipeline Rights of Way to Marcos y Asociados with a total amount of $77,844 which was due April 15, 2018 and not paid as of January 31, 2021. Interest will continue accruing after January 31, 2021 until it is paid. 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.

EQUITY

EQUITY	6 Months Ended
	Jan. 31, 2021
EQUITY
NOTE 8 - EQUITY	During the six months ended January 31, 2021, the Company issued 2,564,695 shares of common stock for conversion of a convertible note totaling $82,500 with a fair value of $470,214 for the debt and a fair value of $33,235 for the interest totaling $503,449. Also, the Company issued a total of 4,235,111 shares of common stock as a cashless exercise of common stock warrants. On August 24, 2020, Crown Bridge Partners, LLC exercised the right to purchase 4,235,111 shares of common stock, respectively, per the Common Stock Warrants that were issued with the November 13, 2018 note. For the six months ended January 31, 2021, the Company entered into agreements for 1,446,250 shares of common stock as fee compensation to consultants in the amount of $286,637 and to directors in the amount of $68,000. For the six months ended January 31, 2021, the Company had a cancellation of stock subscription of 500,000 shares totaling $20,000.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jan. 31, 2021
SUBSEQUENT EVENTS
NOTE 9 - SUBSEQUENT EVENTS	The Company evaluated events occurring after January 31, 2021, identifying those that are required to be disclosed as follows: In February 2021, the Company offered and sold 41,667 shares of common stock at $0.24 per share for $10,000. On March 9, 2021, the Company entered into a Securities Purchase Agreement with Power Up Lending Group Ltd. to issue a convertible note in the principal amount of $53,500, with unsecured, interest bearing at 10% per annum and a maturity date of January 9, 2022. In May 2021, the Company offered and sold 4,050,000 shares of common stock at $0.10 per share for $405,000 but 1,250,000 shares have not yet been issued as of this filing date.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jan. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s 10-K filed with the Securities and Exchange Commission on November 19, 2020.
Net Income (Loss) Per Share of Common Stock	The Company has adopted ASC Topic 260, “Earnings per Share,” (“EPS”) which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying financial statements, basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus common stock equivalents (if dilutive) related to convertible debt, stock options and warrants for each year. In the period of net loss, diluted EPS calculation is not deemed necessary as the effect would be anti-dilutive. As of January 31, 2021 and July 31, 2020, the Company has convertible notes with a total base principal of $348,000 and $100,500, respectively, which become convertible in 180 days. There is a potential for 2,356,102 shares if the principal of $348,000 were converted at January 31, 2021. These notes will have a dilutive effect on common stock for the quarter ended January 31, 2021. The Company has 10,000,000 shares of Mirage’s Series A Preferred Stock which possess 20 votes per share and are convertible into 200,000,000 common shares. As of January 31, 2021, the Company no longer has any outstanding common stock purchase warrants.
Basis of Consolidation	These financial statements include the accounts of the Company and its wholly owned subsidiaries, 4Ward Resources, Inc., Cenote Energy, S. de R.L. de C.V., WPF Transmission, Inc., and WPF Mexico Pipelines, S. de R.L. de C.V. All material intercompany balances and transactions have been eliminated.
Financial Instruments	The Company’s notes that have become convertible are subject to ASC Topic 480, “Distinguishing Liabilities from Equity,” as the debt is a mostly fixed amount to be settled with a variable number of shares.
Recent Accounting Pronouncements	In February 2016, the FASB issued ASU 2016-02, Leases, which will amend current lease accounting to require lessees to recognize (i) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and (ii) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 does not significantly change lease accounting requirements applicable to lessors; however, certain changes were made to align, where necessary, lessor accounting with the lessee accounting model. This standard will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company has reviewed these provisions and will apply to the fiscal year which begins August 1, 2021, as we follow the private company effective dates as an Emerging Growth Company which have been extended due to COVID-19.

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jan. 31, 2021
DEBT
Schedule of debt	January 31, July 31, 2021 2020 Note, unsecured interest bearing at 2% per annum, due July 9, 2020 $ 50,000 $ 50,000 Note, unsecured interest bearing at 7.5% per annum, due April 15, 2018. This was an accounts payable bill that was converted to a loan as per Note 7 Commitments and Contingencies. This note is now in default as of April 16, 2018 and has a default interest of 17.5%. 77,844 77,844 Convertible debenture, unsecured, interest bearing at 12% per annum, issued June 12, 2018 in the amount of $18,000 with fees of $0 and cash proceeds of $18,000 which was paid directly to the vendor in the year ended July 31, 2018, convertible at December 9, 2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of March 30, 2019. This note became convertible on December 9, 2018. This note defaulted on November 14, 2018 and a default penalty of $9,000 was added to the note for a total of $27,000 and incurred default interest rate of 22%. The convertible note had a net gain on change in fair value of $6,877. 62,497 69,374 - 211,977 Convertible debenture, unsecured, interest bearing at 10% per annum, issued September 21, 2020 in the amount of $153,000 with fees of $3,000 and cash proceeds of $150,000, convertible at March 20, 2021 with conversion price at a discount rate of 39% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to conversion date; maturity date of July 21, 2021. This note defaulted on November 4, 2020 and a default penalty of $76,500 was added to the note for a total of $229,500. The note became immediately convertible. The convertible note had a loss in net change in fair value of $249,478. 478,978 - Convertible debenture, unsecured, interest bearing at 10% per annum, issued October 12, 2020 in the amount of $68,000 with fees of $3,000 and cash proceeds of $65,000, convertible at April 10, 2021 with conversion price at a discount rate of 39% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to conversion date; maturity date of August 12, 2021. This note defaulted on November 4, 2020 and a default penalty of $34,000 was added to the note for a total of $102,000. The note became immediately convertible. The convertible note had a loss in net change in fair value of $110,879. 212,879 - Convertible debenture, unsecured, interest bearing at 10% per annum, issued December 9, 2020 in the amount of $55,500 with fees of $3,500 and cash proceeds of $52,000, convertible at June 7, 2021 with conversion price at a discount rate of 39% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to conversion date; maturity date of September 9, 2021. This note defaulted on December 21, 2020 and a default penalty of $27,750 was added to the note for a total of $83,250. The note became immediately convertible. The convertible note had a loss in net change in fair value of $90,497. 173,747 - Convertible debenture, unsecured, interest bearing at 10% per annum, issued January 12, 2021 in the amount of $53,500 with fees of $3,500 and cash proceeds of $50,000, convertible at July 11, 2021 with conversion price at a discount rate of 39% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to conversion date; maturity date of November 12, 2021. 53,500 - Remaining unpaid portion due AT&T regarding cell phone installments 2,167 1,234 Total Debt 1,111,612 410,429 Less: Current Maturities 1,109,445 409,195 Total Long-Term Debt $ 2,167 $ 1,234

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jan. 31, 2021
LEASES
Schedule of rent for the remaining Lease term	Year Ending Amount July 31, 2021 $ 42,453 July 31, 2022 84,906 Total Remaining Base Rent $ 127,359

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2021	Jul. 31, 2020
Convertible note	$ 348,000	$ 100,500
Convertible note, maturity Period	180 days
Common stock shares issued upon conversion, shares	2,356,102
Common stock shares issued upon conversion, amount	$ 348,000
Series A Preferred Stock [Member]
Common stock shares issued upon conversion, shares	10,000,000
Preferred stock shares issued upon conversion, shares	200,000,000
Preferred stock, number of vote per share Description	Series A Preferred Stock which possess 20 votes per share

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jan. 31, 2020	Oct. 31, 2019	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020
GOING CONCERN
Net loss	$ (884,656)	$ (841,271)	$ (767,039)	$ (427,157)	$ (1,725,927)	$ (1,194,196)
Net cash (used) in operating activities					(416,266)	$ (474,340)
Accumulated deficit	(13,632,879)				(13,632,879)		$ (11,906,952)
Working capital deficit	$ (3,730,173)				$ (3,730,173)

DEBT (Details)

DEBT (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Remaining unpaid portion due AT&T regarding cell phone installments	$ 2,167	$ 1,234
Total Debt	1,111,612	410,429
Less: Current Maturities	1,109,445	409,195
Total Long-Term Debt	2,167	1,234
Convertible Debt 4 [Member]
Total Debt	173,747	0
Notes Payable 1 [Member]
Total Debt	50,000	50,000
Notes Payable 2 [Member]
Total Debt	77,844	77,844
Convertible Debt [Member]
Total Debt	62,497	69,374
Convertible Debt 1 [Member]
Total Debt	0	211,977
Convertible Debt 2 [Member]
Total Debt	478,978	0
Convertible Debt 3 [Member]
Total Debt	212,879	0
Convertible Debt 5 [Member]
Total Debt	$ 53,500	$ 0

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020
Common stock shares issued	470,476,740		462,730,684
Convertible notes interest	$ 33,235	$ 31,778
Proceeds from convertible notes	$ 317,000	$ 297,500
Convertible Debt [Member]
Common stock shares issued	2,356,102
Convertible notes interest	$ 503,449		$ 4,921,471
Proceeds from convertible notes	317,000		297,500
Financing fees	13,500		30,500
Loss due to change in fair value of convertible debt	$ (729,083)		$ (3,991,040)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020
Accrued payroll taxes	$ 72,355
Accrued salaries and payroll taxes, related parties	1,788,765		$ 1,795,071
Accrued salaries	1,716,410
Accrued unpaid salary	1,716,410
Proceeds from related party	0	$ 1,000
Expenses paid by shareholder	8,945	$ 16,611
Mr. Michael Ward [Member]
Due to related parties	0		0
Expenses paid on behalf of acquiree companies			39,742
Repayments of related parties	8,945
Loan amount	$ 8,945		39,742
Proceeds from related party			10,100
Expenses paid by shareholder			$ 29,642

LEASES (Details)

LEASES (Details)	Jan. 31, 2021USD ($)
LEASES
July 31, 2021	$ 42,453
July 31, 2022	84,906
Total Remaining Base Rent	$ 127,359

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Jan. 31, 2021	Jul. 31, 2020
LEASES
Lease agreement description	On June 9, 2016, the Company entered into a Lease Agreement for its San Antonio, Texas office lease location. The Lease Period was for three (3) years beginning July 1, 2016. On July 1, 2019, the Company entered into a First Amendment to Lease Agreement at same location. The landlord continues to hold $6,921 as security which is to be returned at the end of the new lease. The new Lease Period is three (3) years beginning July 1, 2019. The Company shall pay as additional rent all other sums of money as shall become due and payable by them under this Lease. To date after nineteen (19) months of this thirty-six (36) month lease, no such additional charges have been made.
Rent expense	$ 43,465	$ 84,906
Securities hold by landlord	$ 6,921

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - Marcos Y Asociados [Member]	6 Months Ended
	Jan. 31, 2021USD ($)
Acquisition description	The Company committed to eighteen (18) months of Acquisition of Pipeline Rights of Way to Marcos y Asociados with a total amount of $77,844 which was due April 15, 2018 and not paid as of January 31, 2021. Interest will continue accruing after January 31, 2021 until it is paid.
Commitment and contingencies acquisition amount	$ 77,844

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Aug. 24, 2020	Jan. 31, 2021
Debt converted into common stock		2,564,695
Convertible note issued		$ 82,500
Debt conversion converted amount, fair value		470,214
Fair value of debt		33,236
Debt conversion converted amount, accrued interest		$ 503,449
Share warrant issued, shares		4,235,111
Accredited Investor [Member]
Cancellation of shares, shares		500,000
Cancellation of shares, value		$ 20,000
Consultants [Member]
Common stock shares issued for compensation, shares		1,446,250
Common stock shares issued for compensation, amount		$ 286,637
Payment for directors		$ 68,000
Crown Bridge Partners LLC [Member]
Common stock share purchase	4,235,111

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Mar. 09, 2021	May 31, 2021	Feb. 28, 2021	Jan. 31, 2021
Debt converted principal amount				$ 470,214
Subsequent Event [Member]
Common stock shares amount		$ 405,000	$ 10,000
Price per share		$ 0.10	$ 0.24
Shares Unissued		1,250,000
Common stock shares		4,050,000	41,667
Subsequent Event [Member] | PowerUp Lending Group Ltd One [Member]
Debt converted principal amount	$ 53,500
Maturity date	Jan. 9, 2022
Unsecured, interest bearing	10.00%