Cover
Cover - USD ($) | 12 Months Ended | ||
Apr. 30, 2021 | Sep. 10, 2021 | Oct. 31, 2020 | |
Cover [Abstract] | |||
Entity Registrant Name | GPO PLUS, INC. | ||
Entity Central Index Key | 0001673475 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --04-30 | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | true | ||
Entity Current Reporting Status | Yes | ||
Document Period End Date | Apr. 30, 2021 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Entity Ex Transition Period | false | ||
Entity Common Stock Shares Outstanding | 18,941,316 | ||
Entity Public Float | $ 4,662,008 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity Interactive Data Current | Yes | ||
Entity File Number | 333-213744 | ||
Entity Incorporation State Country Code | NV | ||
Entity Tax Identification Number | 37-1817132 | ||
Entity Address Address Line 1 | 3571 E | ||
Entity Address Address Line 2 | Sunset Road | ||
Entity Address Address Line 3 | Suite 300 | ||
Entity Address City Or Town | Las Vegas | ||
Entity Address State Or Province | NV | ||
Entity Address Postal Zip Code | 89120 | ||
City Area Code | 852 | ||
Local Phone Number | 5238-9111 |
AUDITED BALANCE SHEETS
AUDITED BALANCE SHEETS - USD ($) | Apr. 30, 2021 | Apr. 30, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 12,407 | $ 0 |
Accounts receivable | 5,252 | 0 |
Prepaid expenses | 2,000 | 16,127 |
Total Current Assets | 19,659 | 16,127 |
Property, Plant, and Equipment, net | 5,241 | 0 |
TOTAL ASSETS | 24,900 | 16,127 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 73,268 | 5,221 |
Stock payable | 18,000 | 0 |
Total Current Liabilities | 91,268 | 5,221 |
Total Liabilities | 91,268 | 5,221 |
Commitments and Contingencies (Note 6) | 0 | 0 |
Stockholders' Equity (Deficit): | ||
Common stock value | 967 | 932 |
Additional paid in capital | 675,820 | 128,790 |
Accumulated deficit | (743,270) | (118,816) |
Total Stockholders' Equity (Deficit) | (66,368) | 10,906 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | 24,900 | 16,127 |
Series A Non - Voting Redeemable Preferred Stock [Member] | ||
Stockholders' Equity (Deficit): | ||
Preferred stock value | 3 | 0 |
Series A Preferred Shares | ||
Stockholders' Equity (Deficit): | ||
Total Stockholders' Equity (Deficit) | 100 | 0 |
Preferred stock value | 100 | 0 |
Class A Common Stock [Member] | ||
Stockholders' Equity (Deficit): | ||
Common stock value | $ 12 | $ 0 |
AUDITED BALANCE SHEETS (Parenth
AUDITED BALANCE SHEETS (Parenthetical) - USD ($) | Apr. 30, 2021 | Apr. 30, 2020 |
Stockholders' Deficit | ||
Common stock, shares par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 90,000,000 | 90,000,000 |
Common stock, shares issued | 9,666,674 | 9,316,674 |
Common stock, shares outstanding | 9,666,674 | 9,316,674 |
Preferred Stock, shares authorized | 1,000,000 | |
Preferred Stock, shares issued | 1,000,000 | |
Founders Class A Stocks | ||
Stockholders' Deficit | ||
Common stock, shares par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 115,000 | 0 |
Common stock, shares outstanding | 115,000 | 0 |
Founders Series A Non - Voting Redeemable Preferred Stock | ||
Stockholders' Deficit | ||
Preferred Stock, shares par value | $ 0.0001 | $ 0.0001 |
Preferred Stock, stated value | $ 15 | $ 15 |
Preferred Stock, shares authorized | 500,000 | 500,000 |
Preferred Stock, shares issued | 28,750 | 0 |
Preferred Stock, shares outstanding | 28,750 | 0 |
Series A Preferred Stock [Member] | ||
Stockholders' Deficit | ||
Preferred Stock, shares par value | $ 0.0001 | $ 0.0001 |
Preferred Stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred Stock, shares issued | 1,000,000 | 0 |
Preferred Stock, shares outstanding | 1,000,000 | 0 |
AUDITED STATEMENTS OF OPERATION
AUDITED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
AUDITED STATEMENTS OF OPERATIONS | ||
Revenues | $ 826,731 | $ 0 |
Cost of revenue | 731,251 | 0 |
Gross Profit | 95,480 | 0 |
Operating Expenses | ||
General and administrative | 159,014 | 0 |
Professional fees | 491,765 | 27,366 |
Salaries and wages | 58,164 | 0 |
Management fees - related party | 10,991 | 0 |
Total Operating Expenses | 719,934 | 27,366 |
Net Loss | $ (624,454) | $ (27,366) |
Net Loss Per Common Share: Basic and Diluted | $ (0.06) | $ 0 |
Weighted Average Number of Common Shares Outstanding: Basic and Diluted | 9,764,797 | 9,316,674 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (DEFICIT) - USD ($) | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Series A Preferred Shares | Founders Class A Stocks | Founders Series A Non - Voting Redeemable Preferred Stock |
Balance, shares at Apr. 30, 2019 | 9,316,674 | ||||||
Balance, amount at Apr. 30, 2019 | $ (63,387) | $ 932 | $ 18,746 | $ (91,450) | $ 0 | $ 0 | $ 0 |
Forgiveness of related party loan | 101,659 | 0 | 101,659 | 0 | 0 | 0 | |
Net loss for the period | (27,366) | $ 0 | 0 | (27,366) | 0 | 0 | |
Balance, shares at Apr. 30, 2020 | 9,316,674 | ||||||
Balance, amount at Apr. 30, 2020 | 10,906 | $ 932 | 128,790 | (118,816) | 0 | 0 | 0 |
Net loss for the period | (624,454) | 0 | 0 | (624,454) | 0 | $ 0 | $ 0 |
Issuance of Preferred Stock and Class A Common Stock units for cash, shares | 115,000 | 28,750 | |||||
Issuance of Preferred Stock and Class A Common Stock units for cash, amount | 287,500 | $ 0 | 287,485 | 0 | 0 | $ 12 | $ 3 |
Issuance of Common Stock for cash, shares | 80,000 | ||||||
Issuance of Common Stock for cash, amount | 80 | $ 8 | 72 | 0 | $ 0 | 0 | 0 |
Issuance of Preferred Stock for cash, shares | 1,000,000 | ||||||
Issuance of Preferred Stock for cash, amount | 100 | $ 0 | 0 | 0 | $ 100 | 0 | 0 |
Stock based compensation, shares | 270,000 | ||||||
Stock based compensation, amount | 259,500 | $ 27 | 259,473 | 0 | $ 0 | $ 0 | $ 0 |
Balance, shares at Apr. 30, 2021 | 9,666,674 | 1,000,000 | 115,000 | 28,750 | |||
Balance, amount at Apr. 30, 2021 | $ (66,368) | $ 967 | $ 675,820 | $ (743,270) | $ 100 | $ 12 | $ 3 |
AUDITED STATEMENTS OF CASH FLOW
AUDITED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (624,454) | $ (27,366) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation | 259,500 | 0 |
Depreciation of furniture and equipment | 478 | |
Lease expense to be settled by common stock | 18,000 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (5,252) | 0 |
Prepaid expenses | 14,127 | 4,231 |
Accounts payable and accrued liabilities | 68,047 | (6,256) |
Net cash used in Operating Activities | (269,554) | (29,391) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property, plant and equipment | (5,719) | 0 |
Net cash used in Investing Activities | (5,719) | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from issuance of preferred stock | 100 | |
Proceeds from issuance of common stock | 80 | |
Proceeds from issuance of preferred stock and common stock units | 287,500 | 0 |
Proceeds from related party loan | 0 | 29,391 |
Net cash provided by Financing Activities | 287,680 | 29,391 |
Net change in cash for period | 12,407 | 0 |
Cash at beginning of period | 0 | 0 |
Cash at end of period | 12,407 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for income taxes | 0 | 0 |
Cash paid for interest | 0 | 0 |
NON CASH INVESTING AND FINANCING ACTIVITIES | ||
Forgiveness of related party loans | $ 0 | $ 101,659 |
ORGANIZATION AND BASIS OF PRESE
ORGANIZATION AND BASIS OF PRESENTATION | 12 Months Ended |
Apr. 30, 2021 | |
ORGANIZATION AND BASIS OF PRESENTATION | |
NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION | NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION GPO Plus, Inc. (the “Company”) is a corporation originally established under the name of Koldeck, Inc. under the corporation laws in the State of Nevada on March 29, 2016. The Company’s activities are subject to significant risks and uncertainties including failure to secure additional funding to properly execute the Company’s business plan. On April 2, 2018, the Company approved an agreement and plan of merger for the purposes of changing our corporate name from Koldeck Inc. to Global House Holdings Ltd. Pursuant to the agreement and plan of merger, our company merged with our wholly-owned subsidiary Global House Holdings Ltd., a Nevada corporation. Koldeck Inc. remained the surviving company of the merger, continuing under the name Global House Holdings Ltd. The name change, as well as a 20:1 forward stock split, was approved by FINRA and effective April 3, 2018. On June 19, 2020, the Company approved an agreement and plan of merger for the purposes of changing our corporate name from Global House Holdings Ltd. to GPO Plus, Inc. Pursuant to the agreement and plan of merger, our company merged with our wholly-owned subsidiary GPO Plus, Inc., a Nevada corporation. Global House Holdings Ltd. remained the surviving company of the merger, continuing under the name GPO Plus, Inc. The name change, as well as a 12:1 reverse stock split, was approved by FINRA and effective August 20, 2020. The issued and outstanding shares and authorized capital have been restated retroactively in the financial statements. Effective May 5, 2020, Brett H. Pojunis acquired 5,000,000 (post-split) of the issued and outstanding common shares of the Company from Jian Han Chen. As a result of the transaction, Mr. Pojunis had voting and dispositive control over 53.67% of our outstanding voting securities. The shares were acquired in a private transaction using Mr. Pojunis’ personal funds. Mr. Pojunis’s ownership has since been diluted to 29.04%, and Mr. Chen no longer holds any equity interest in the Company. We are a start-up company engaged in the business of organizing, promoting, and operating industry-specific group purchase organizations (GPOs). A GPO is an entity created to leverage the purchasing power of a group of businesses (or individuals) to obtain discounts from vendors. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Apr. 30, 2021 | |
GOING CONCERN | |
NOTE 2 - GOING CONCERN | NOTE 2 – GOING CONCERN The Company’s financial statements as of April 30, 2021 have been prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplate the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has incurred a cumulative net loss of $743,270. These factors among others raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Apr. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company’s year-end is April 30. Use of Estimates Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. As of April 30, 2021 and April 30, 2020, the Company had cash and cash equivalents of $12,407 and $0, respectively. Accounts Receivable Accounts receivable are recorded in accordance with ASC 310, “Receivables.” Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in its existing accounts receivable. The Company does not currently have any amount recorded as an allowance for doubtful accounts. Based on management’s estimate and based on all accounts being current, the Company has not deemed it necessary to reserve for doubtful accounts at this time. As of April 30, 2021 and April 30, 2020, the Company had accounts receivable of $5,252 and $0, respectively. Prepaid Expense Prepaid expenses relate to security deposit for office premise and prepayment made for future services in advance that will be expensed over time as the benefit of the services is received in the future expected within one year. Property, Plant and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method. The depreciation and amortization methods are designed to amortize the cost of the assets over their estimated useful lives, in years, of the respective assets as follows: Furniture and Equipment 5 years Maintenance and repairs are charged to expense as incurred. Improvements of a major nature are capitalized. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any gains or losses are reflected in income. The long-lived assets of the Company are reviewed for impairment in accordance with ASC 360, “Property, Plant and Equipment” (“ASC 360”), whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During the year ended April 30, 2021 and 2020, no impairment losses have been identified. As of April 30, 2021 and April 30, 2020, Property, Plant and Equipment was $5,241 and $0, respectively. Depreciation of $478 was incurred during the year ended April 30, 2021. Revenue Recognition During the year ended April 30, 2021, the Company generated its first revenue since its establishment. The Company recognizes revenue from the sale of products in accordance with ASC 606, “ Revenue Recognition Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation The Company engages in the business of organizing, promoting, and operating industry-specific group purchase organizations (GPOs). A GPO is an entity created to leverage the purchasing power of a group of businesses (or individuals) to obtain discounts from vendors. The Company identifies underserved markets, segments and industries where there is little to no competition and develops specific GPOs around them. The Company develops industry specific GPO that leverage the aggregated purchasing power of its members. The GPOs use collective buying power to obtain and negotiate discounts on products and services from vendors. The discounted rates are then shared with its members saving them money and time by also improving supply chain efficiencies. The main business segments are HealthGPO, a Group Purchasing Organization for the Healthcare industry, and cbdGPO, a Group Purchasing Organization for the Hemp industry. In addition, the Company offers professional services through GPOPRO Services. During the year ended April 30, 2021, the Company recognized $824,065 of revenues related to merchandise and product sales, and $2,666 of revenues related to shipping recovered on merchandise sales. In regard to the sales that occurred during the year ended April 30, 2021, there are no unfulfilled obligations related to the merchandise and product sales. HealthGPO works with companies that have well priced high-quality products and services with advantageous terms. The Company’s primary offerings are volume supply acquisitions, access to quality personal protective equipment (PPE), essential necessities and medical equipment from non-traditional, yet fully accredited suppliers. Additionally, the Company identify “best of breed” products that have a unique value proposition and become distributors with some form of exclusivity and/or favorable terms. HealthGPO is developing a b2b healthcare portal to offer medical products to everyday business. Technology will continue to play an important role in exceeding our stated goals. HealthGPO also addresses the needs of individual consumers who want access to products at a good price that is typically only available to healthcare professionals. The Company intend on developing a b2c (business to consumer) portal to sell healthcare and wellness products directly to consumers. In accordance with ASC 606 , · The invoice has been generated and provided to the customer. · The performance obligations of delivery of products are stated in the invoice. · The transaction price has been identified in the invoice. · The Company has allocated the transaction price to performance obligation in the invoice. · The Company has shipped out the product and, therefore, satisfied the performance obligation. During the year ended April 30, 2021, the Company recognized revenue of $826,731, incurred cost of revenue of $731,251 and generated gross profit of $95,480. Financial Instruments The carrying values of our financial instruments, with the exception of the Series A Convertible Preferred Stock, including, cash and cash equivalent, accounts receivable, and accounts payable, and accrued expenses approximate their fair value due to the short maturities of these financial instruments. Convertible Financial Instruments The Company bifurcates conversion options from their host instruments and accounts for them as free-standing derivative financial instruments if certain criteria are met. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not remeasured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur, and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule is when the host instrument is deemed to be conventional, as that term is described under applicable U.S. GAAP. When the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, discounts are recorded for the intrinsic value of conversion options embedded in the instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the transaction and the effective conversion price embedded in the instrument. Share-Based Compensation Employees Nonemployees Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting During the year ended April 30, 2021 and 2020, the Company recorded $259,500 and $0 share-based compensation, respectively. Year ended April 30, 2021 2020 Common stock award to consultants $ 237,500 $ - Restricted common stock award to employees 22,000 - $ 259,500 $ - Basic and Diluted Loss per Share Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had 1,000,000 and 0 shares of Series A Preferred Stock issued and outstanding at April 30, 2021 and 2020, respectively, that are convertible into shares of common stock at a one-for-one rate. These if-converted common shares have been excluded from the computation of loss per share, as their inclusion would be anti-dilutive due to the Company’s losses. New Accounting Pronouncements In November 2019, the FASB issued ASU No. 2019-08, Compensation-Stock Compensation and Revenue from Contracts with Customers; Codification Improvements- Share-Based Consideration Payable to a Customer. In December 2019, the FASB issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on our financial statements. Management has considered all other recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
CAPITAL STOCK
CAPITAL STOCK | 12 Months Ended |
Apr. 30, 2021 | |
CAPITAL STOCK | |
NOTE 4 - CAPITAL STOCK | NOTE 4 – CAPITAL STOCK Share Capital On June 19, 2020, the Company announced a reverse stock split of the issued and authorized shares of common stock on the basis of 1 new share for 12 old shares. The reverse stock split has been reviewed by the Financial Industry Regulatory Authority (“FINRA”) and has been approved with an effective date of August 20, 2020. Our issued and outstanding capital decreased from 111,800,000 shares of common stock to 9,316,674 shares of common stock. The reverse stock split also resulted in the decrease of the authorized capital from 1,500,000,000 shares of common stock to 125,000,000 shares of common stock. The issued and outstanding shares and authorized capital have been restated retroactively in the financial statements. On November 20, 2020, the Company filed amended and restated article of incorporation, resulting in increasing the authorized share capital from 125,000,000 shares to 200,000,000 shares and par value from $0.001 per share to $0.0001 per share consisting of the following: · 90,000,000 shares of ordinary common stock · 10,000,000 shares of founders’ class A common stock · 50,000,000 shares of blank check common stock · 500,000 shares of founders’ series A non-voting redeemable preferred stock · 49,500,000 shares of blank check preferred stock On January 21, 2021, the Company filed amended certification of stock designation after issuance of class/series for designating 1,000,000 shares of blank check preferred stock as Series A Preferred Stock. Ordinary Common Stock On December 30, 2020, the Company issued 80,000 shares of ordinary common stock at $0.001 per share for cash proceeds of $80 to nonaffiliates through private placement. On December 29, 2020, the Company issued restricted stock awards for 20,000 shares of ordinary common stock at market stock price of $1.10 per share to employees at $22,000. Restricted stock awards were issued to certain employees as consideration for services rendered. The restricted stock units were vested immediately on the date of grant. On January 1, 2021, the Company issued 250,000 shares of ordinary common stock at market stock price of $0.95 per share to consultants for service at $237,500. As of April 30, 2021 and April 30, 2020, the issued and outstanding ordinary common stock was 9,666,674 and 9,316,674, respectively. Founders’ Class A Common Stock and Founders Series A Non-Voting Redeemable Preferred Stock During the year ended April 30, 2021, the Company issued common and preferred stock units comprising of 115,000 shares of founder’s class A common stock and 28,750 shares of founder’s series A non-voting redeemable preferred stock to non-affiliates for total consideration of $287,500. The founder’s series A non-voting redeemable preferred stock had redemption value of $15 per share at the option of the issuer and as a result, was classified as permanent equity in the Company’s balance sheet. As of April 30, 2021, the Company had 115,000 shares of founder’s class A common stock issued and outstanding and 28,750 shares of founder’s series A non-voting redeemable preferred stock issued and outstanding. Series A Preferred Stock The Company has designated 1,000,000 shares of series A preferred stock. The series A preferred stock may convert into common stock at a rate equal to one share of common stock for each share of series A preferred stock. Each Series A preferred shareholder is entitled to vote, on one hundred (100) votes for each share held of record on matters submitted to a vote of holders of the Company’s ordinary Common Stock. On January 21, 2021, the Company issued 500,000 shares of series A preferred stock to the CEO of the Company at $0.0001 per share for consideration of $50 (Note 5). On January 21, 2021, the Company issued 500,000 shares of series A preferred stock to a consultant of the Company at $0.0001 per shares for consideration of $50. As of April 30, 2021, the Company had 1,000,000 shares of series A preferred stock issued and outstanding. Stock Payable On August 5, 2020, the Company entered into a lease agreement for an office premise at 3571 E. Sunset Road Las Vegas Nevada under a term of 6 months commencing on August 10, 2020 at the cost of $4,750 per month, consisting of $2,000 payable in common shares of the Company and $2,750 payable in cash (Note 6). During the year ended April 30, 2021, the Company recorded stock payable of $18,000 for August 2020 to April 2021 lease. As of April 30, 2021, stock payable was $18,000. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Apr. 30, 2021 | |
RELATED PARTY TRANSACTIONS | |
NOTE 5 - RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS On January 21, 2021, the Company issued 500,000 shares of series A preferred stock to the CEO of the Company at $0.0001 per share for consideration of $50. During the year ended April 30, 2021, the Company incurred management fees of $10,991 to the CEO of the Company. During the year ended April 30, 2020, the Company received loans from its former sole officer and director totaling $29,391 resulting in a balance owed of $101,659. Concurrent with the change of control on May 5, 2020 (Note 1), the aggregate related party loan of $101,659 was forgiven and reflected in additional paid-in capital. |
COMMITTMENTS AND CONTINGENCIES
COMMITTMENTS AND CONTINGENCIES | 12 Months Ended |
Apr. 30, 2021 | |
COMMITTMENTS AND CONTINGENCIES | |
NOTE 6 - COMMITTMENT | NOTE 6 – COMMITTMENTS AND CONTINGENCIES Consulting Agreement On January 1, 2021, the Company signed a consulting service agreement with an independent contractor. Pursuant to the agreement, the Company issued 250,000 shares of ordinary common stock at market stock price of $0.95 per share to the consultants for service at $237,500. In six months from the date of the agreement, the Company will issue another 250,000 shares of ordinary common stock to the consultants. Office Leases The Company’s principal business and corporate address is 3571 E. Sunset Road, Suite 300, Las Vegas, NV 89120. This office is currently leased for a term of 6 months at the cost of $4,500 per month, consisting of $2,500 payable in common shares of the Company (calculated based on a 10% discount to fair market value at the time of payment) and $2,000 payable in cash. The Company may extend this lease on a month-to-month basis following expiration of the initial term. The Company also maintains a sales office at 3375 Shoal Line Blvd., Hernando Beach, Florida 34607. This office is leased for a term of 12 months expiring on April 30, 2022 at the cost of $1,857.50 per month. The leases are exempt from the provisions of ASC 842, Leases, due to the short-terms of their durations. |
INCOME TAX
INCOME TAX | 12 Months Ended |
Apr. 30, 2021 | |
INCOME TAX | |
NOTE 7 - INCOME TAX | NOTE 7 INCOME TAX The Company provides for income taxes under ASC 740, “ Income Taxes.” The reconciliation of the net operating loss for year ended April 30, 2021 and 2020 is shown as follows: Year Ended April 30, April 30, 2021 2020 Net loss $ (624,454 ) $ (27,366 ) Add: Stock based compensation 259,500 0 Net operating loss $ (364,954 ) $ (27,366 ) The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate to the income tax amount recorded as of April 30, 2021 and 2020, are as follows: April 30, April 30, 2021 2020 Net operating loss carryforward $ (483,770 ) $ (118,816 ) Effective tax rate 21 % 21 % Deferred tax asset (101,592 ) (24,951 ) Less: Valuation allowance 101,592 24,951 Net deferred asset $ - $ - The valuation allowance increased by $76,640 and $5,746 during the years ended April 30, 2021 and 2020, respectively. As of April 30, 2021, the Company had $483,770 in net operating losses (“NOLs”) that may be available to offset future taxable income, which begin to expire between 2036 and 2038. NOLs generated in tax years prior to April 30, 2018 can be carryforward for twenty years, whereas NOLs generated after April 30, 2018 can be carryforward indefinitely. In accordance with Section 382 of the U.S. Internal Revenue Code, the usage of the Company’s net operating loss carry forwards is subject to annual limitations following greater than 50% ownership changes. Tax returns for the years ended 2016 through 2021 are subject to review by the tax authorities. The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the provisions of Section 740-10-25 for the years ended April 30, 2021 or 2020. The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recognized during the periods presented. The Company had no accruals for interest and penalties at April 30, 2021 or 2020. |
RISKS AND UNCERTAINTIES
RISKS AND UNCERTAINTIES | 12 Months Ended |
Apr. 30, 2021 | |
RISKS AND UNCERTAINTIES | |
NOTE 8 - RISKS AND UNCERTAINTIES | NOTE 8 – RISKS AND UNCERTAINTIES In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. Due to the outbreak and spread of COVID-19, the Company’s management and advisors responsible for financial reporting have experienced administrative delays, include travel restrictions and reduced work hours. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at April 30, 2021. The Company is not may |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Apr. 30, 2021 | |
SUBSEQUENT EVENTS | |
NOTE 9 - SUBSEQUENT EVENTS | NOTE 9 – SUBSEQUENT EVENTS Subsequent to April 30, 2021 and through the date that these financials were issued, the Company had the following subsequent events: On September 8, 2021, the Company entered into a Securities Purchase Agreement with an institutional investor (the “Investor”) pursuant to which the Company issued a $168,000 Original Issue Discounted Convertible Promissory Note for a purchase price of $150,000 (the “Note”), convertible at $1.00 per share. Additionally, the Company issued to the investor 168,000 three-year warrants to purchase the Company’s common stock at an exercise price of $1.25 per share (the “Warrant”). The Note matures nine months from the issuance date and accrues interest at 9%. On May 21, 2021, the Company authorized the sale and issuance of up to 19,625,000 Shares of its Common Stock and 175,000 Series A Non-Voting Redeemable On May 21, 2021, the Company issued restricted stock awards for 1,959,642 shares of ordinary common stock to employees and consultants under the 2020 Incentive Plan at market stock price of $2.45 per share to employees at $4,801,123. Restricted stock awards were issued to certain employees as consideration for services rendered. The restricted stock units were vested immediately on the date of grant. On May 21, 2021, the Company issued 175,000 Series A Non-Voting Redeemable Preferred Shares to an executive at $10 stated value per share and cash consideration of $17.50. On June 1, 2021, the Company issued 7,200,000 shares of common stock at market stock price $2.45 per share to non-affiliates at $17,640,000. On June 16, 2021, (the Company entered into a Securities Purchase Agreement with an institutional investor (the “Investor”) pursuant to which the Company issued a $280,000 Original Issue Discounted Convertible Promissory Note for a purchase price of $250,000 (the “Note”), convertible at $1.00 per share. Additionally, the Company issued to the investor 280,000 three-year warrants to purchase the Company’s common stock at an exercise price of $1.25 per share (the “Warrant”). Pursuant to the Note, the Company promises to pay the principal sum of the Note to the noteholder on the date that is the nine-month anniversary of the original issue date, or such earlier date as the Note is required or permitted to be repaid as provided thereunder, and to pay interest to the noteholder on the aggregate unconverted and then outstanding principal amount of the Note in accordance with the provisions thereof. Interest shall accrue on the aggregate unconverted and then outstanding principal amount of the Note at the rate of 9% per annum, calculated based on a 360-day year and shall accrue daily commencing on the original issue date until payment in full of the outstanding principal (or conversion to the extent applicable), together with all accrued and unpaid interest, liquidated damages and other amounts which may become due thereunder, has been made. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Apr. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of presentation | The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company’s year-end is April 30. |
Use of Estimates | Preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Actual results and outcomes may differ from management’s estimates and assumptions. |
Cash and Cash Equivalents | For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. As of April 30, 2021 and April 30, 2020, the Company had cash and cash equivalents of $12,407 and $0, respectively. |
Account Receivable | Accounts receivable are recorded in accordance with ASC 310, “Receivables.” Accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in its existing accounts receivable. The Company does not currently have any amount recorded as an allowance for doubtful accounts. Based on management’s estimate and based on all accounts being current, the Company has not deemed it necessary to reserve for doubtful accounts at this time. As of April 30, 2021 and April 30, 2020, the Company had accounts receivable of $5,252 and $0, respectively. |
Prepaid Expense | Prepaid expenses relate to security deposit for office premise and prepayment made for future services in advance that will be expensed over time as the benefit of the services is received in the future expected within one year. |
Property, Plant and Equipment | Property and equipment are stated at cost. Depreciation is computed using the straight-line method. The depreciation and amortization methods are designed to amortize the cost of the assets over their estimated useful lives, in years, of the respective assets as follows: Furniture and Equipment 5 years Maintenance and repairs are charged to expense as incurred. Improvements of a major nature are capitalized. At the time of retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any gains or losses are reflected in income. The long-lived assets of the Company are reviewed for impairment in accordance with ASC 360, “Property, Plant and Equipment” (“ASC 360”), whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. During the year ended April 30, 2021 and 2020, no impairment losses have been identified. As of April 30, 2021 and April 30, 2020, Property, Plant and Equipment was $5,241 and $0, respectively. Depreciation of $478 was incurred during the year ended April 30, 2021. |
Revenue Recognition | During the year ended April 30, 2021, the Company generated its first revenue since its establishment. The Company recognizes revenue from the sale of products in accordance with ASC 606, “ Revenue Recognition Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation The Company engages in the business of organizing, promoting, and operating industry-specific group purchase organizations (GPOs). A GPO is an entity created to leverage the purchasing power of a group of businesses (or individuals) to obtain discounts from vendors. The Company identifies underserved markets, segments and industries where there is little to no competition and develops specific GPOs around them. The Company develops industry specific GPO that leverage the aggregated purchasing power of its members. The GPOs use collective buying power to obtain and negotiate discounts on products and services from vendors. The discounted rates are then shared with its members saving them money and time by also improving supply chain efficiencies. The main business segments are HealthGPO, a Group Purchasing Organization for the Healthcare industry, and cbdGPO, a Group Purchasing Organization for the Hemp industry. In addition, the Company offers professional services through GPOPRO Services. During the year ended April 30, 2021, the Company recognized $824,065 of revenues related to merchandise and product sales, and $2,666 of revenues related to shipping recovered on merchandise sales. In regard to the sales that occurred during the year ended April 30, 2021, there are no unfulfilled obligations related to the merchandise and product sales. HealthGPO works with companies that have well priced high-quality products and services with advantageous terms. The Company’s primary offerings are volume supply acquisitions, access to quality personal protective equipment (PPE), essential necessities and medical equipment from non-traditional, yet fully accredited suppliers. Additionally, the Company identify “best of breed” products that have a unique value proposition and become distributors with some form of exclusivity and/or favorable terms. HealthGPO is developing a b2b healthcare portal to offer medical products to everyday business. Technology will continue to play an important role in exceeding our stated goals. HealthGPO also addresses the needs of individual consumers who want access to products at a good price that is typically only available to healthcare professionals. The Company intend on developing a b2c (business to consumer) portal to sell healthcare and wellness products directly to consumers. In accordance with ASC 606 , · The invoice has been generated and provided to the customer. · The performance obligations of delivery of products are stated in the invoice. · The transaction price has been identified in the invoice. · The Company has allocated the transaction price to performance obligation in the invoice. · The Company has shipped out the product and, therefore, satisfied the performance obligation. During the year ended April 30, 2021, the Company recognized revenue of $826,731, incurred cost of revenue of $731,251 and generated gross profit of $95,480. |
Financial Instruments | The carrying values of our financial instruments, with the exception of the Series A Convertible Preferred Stock, including, cash and cash equivalent, accounts receivable, and accounts payable, and accrued expenses approximate their fair value due to the short maturities of these financial instruments. |
Convertible Financial Instruments | The Company bifurcates conversion options from their host instruments and accounts for them as free-standing derivative financial instruments if certain criteria are met. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not remeasured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur, and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule is when the host instrument is deemed to be conventional, as that term is described under applicable U.S. GAAP. When the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, discounts are recorded for the intrinsic value of conversion options embedded in the instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the transaction and the effective conversion price embedded in the instrument. |
Share-Based Compensation | Employees Nonemployees Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting During the year ended April 30, 2021 and 2020, the Company recorded $259,500 and $0 share-based compensation, respectively. Year ended April 30, 2021 2020 Common stock award to consultants $ 237,500 $ - Restricted common stock award to employees 22,000 - $ 259,500 $ - |
Basic and Diluted Loss Per Share | Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. The Company had 1,000,000 and 0 shares of Series A Preferred Stock issued and outstanding at April 30, 2021 and 2020, respectively, that are convertible into shares of common stock at a one-for-one rate. These if-converted common shares have been excluded from the computation of loss per share, as their inclusion would be anti-dilutive due to the Company’s losses. |
New Accounting Pronouncements | In November 2019, the FASB issued ASU No. 2019-08, Compensation-Stock Compensation and Revenue from Contracts with Customers; Codification Improvements- Share-Based Consideration Payable to a Customer. In December 2019, the FASB issued Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This guidance will be effective for entities for the fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 on a prospective basis, with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on our financial statements. Management has considered all other recent accounting pronouncements issued. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Apr. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Schedule of property, plant and equipment | Furniture and Equipment 5 years |
Schedule of share-based compensation | Year ended April 30, 2021 2020 Common stock award to consultants $ 237,500 $ - Restricted common stock award to employees 22,000 - $ 259,500 $ - |
INCOME TAX (Tables)
INCOME TAX (Tables) | 12 Months Ended |
Apr. 30, 2021 | |
INCOME TAX | |
Summary of net operating loss | Year Ended April 30, April 30, 2021 2020 Net loss $ (624,454 ) $ (27,366 ) Add: Stock based compensation 259,500 0 Net operating loss $ (364,954 ) $ (27,366 ) |
Summary of deferred tax assets | April 30, April 30, 2021 2020 Net operating loss carryforward $ (483,770 ) $ (118,816 ) Effective tax rate 21 % 21 % Deferred tax asset (101,592 ) (24,951 ) Less: Valuation allowance 101,592 24,951 Net deferred asset $ - $ - |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Apr. 30, 2021 | Apr. 30, 2020 |
GOING CONCERN | ||
Accumulated deficit | $ (743,270) | $ (118,816) |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) | 12 Months Ended |
Apr. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Furniture and Equipment | 5 years |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - shares | 12 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Common stock award to consultants | 237,500 | 0 |
Restricted common stock award to employees | 22,000 | 0 |
Total | 259,500 | 0 |
SUMMARY OF SIGNIFICANT ACCOUN_6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | ||
Apr. 30, 2021 | Apr. 30, 2020 | Apr. 30, 2019 | |
Accounts Receivable | $ 5,252 | $ 0 | |
Cash and cash equivalents | 12,407 | 0 | $ 0 |
Property, Plant and Equipment | 5,241 | 0 | |
Depreciation | 478 | ||
Share-based compensation | 259,500 | 0 | |
Product sales revenue | 824,065 | ||
Shipping recovered revenue | 2,666 | ||
Cost of revenue | 731,251 | 0 | |
Gross profit | 95,480 | 0 | |
Revenue Recognition | $ 826,731 | $ 0 | |
Preferred Stock, shares issued | 1,000,000 | ||
Series A Preferred Stock [Member] | |||
Preferred Stock, shares outstanding | 1,000,000 | 0 | |
Preferred Stock, shares issued | 1,000,000 | 0 |
CAPITAL STOCK (Details Narrativ
CAPITAL STOCK (Details Narrative) - USD ($) | Aug. 05, 2020 | Jan. 21, 2021 | Dec. 30, 2020 | Dec. 29, 2020 | Jun. 19, 2020 | Apr. 30, 2021 | Nov. 20, 2020 | Apr. 30, 2020 |
Common stock, shares authorized | 150,000,000 | 90,000,000 | 90,000,000 | |||||
Description of reverse stock split | the Company announced a reverse stock split of the issued and authorized shares of common stock on the basis of 1 new share for 12 old shares. | |||||||
Common stock shares | $ 125,000,000 | |||||||
Common stock, shares issued | 9,316,674 | 9,666,674 | 9,316,674 | |||||
Common stock, shares outstanding | 111,800,000 | 9,666,674 | 9,316,674 | |||||
Reverse stock split effective date | Aug. 20, 2020 | |||||||
Stock payable for lease | $ 18,000 | |||||||
Stock payable | $ 18,000 | $ 0 | ||||||
Series A preferred stock | 1,000,000 | |||||||
Series A preferred stock, share issued | 1,000,000 | |||||||
Series A preferred stock, share outstanding | $ 1,000,000 | |||||||
Common stock, shares par value | $ 0.0001 | $ 0.0001 | ||||||
Lease Arrangement [Member] | ||||||||
Description lease | Company entered into a lease agreement for an office premise at 3571 E. Sunset Road Las Vegas Nevada under a term of 6 months commencing on August 10, 2020 at the cost of $4,750 per month, consisting of $2,000 payable in common shares of the Company and $2,750 payable in cash | |||||||
Chief Executive Officer [Member] | ||||||||
Per shares | $ 0.0001 | |||||||
Preferred Stock shares | 500,000 | |||||||
Consideration | $ 50 | |||||||
Consultant [Member] | ||||||||
Per shares | $ 0.0001 | |||||||
Preferred Stock shares | 500,000 | |||||||
Consideration | $ 50 | |||||||
Private Placement [Member] | Restricted Stock [Member] | January 1 2021 [Member] | ||||||||
Per shares | $ 0.001 | $ 1.10 | $ 0.95 | |||||
Ordinary Common Stock | 80,000 | 20,000 | 250,000 | |||||
Cash proceeds | $ 80 | |||||||
Restricted stock amount | $ 22,000 | |||||||
consultants for service | $ 237,500 | |||||||
Amended and restated article [Member] | ||||||||
Common stock, shares authorized | 90,000,000 | |||||||
Common stock, shares par value | $ 0.0001 | |||||||
Series A Non - Voting Redeemable Preferred Stock [Member] | ||||||||
Common stock, shares issued | 28,750 | |||||||
Common stock, shares outstanding | 28,750 | |||||||
Series A preferred stock | 500,000 | |||||||
Per shares | $ 15 | |||||||
Total consideration | $ 287,500 | |||||||
Class A Common Stock [Member] | ||||||||
Common stock, shares authorized | 10,000,000 | |||||||
Common stock, shares issued | 115,000 | |||||||
Common stock, shares outstanding | 115,000 | |||||||
Common and preferred stock units | 115,000 | |||||||
Class A common stock | 28,750 | |||||||
Blank Check Common Stock [Member] | ||||||||
Common stock, shares authorized | 50,000,000 | |||||||
Blank Check Preferred Stock [Member] | ||||||||
Series A preferred stock | 1,000,000 | 49,500,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | ||
Apr. 30, 2021 | Apr. 30, 2020 | Jan. 21, 2021 | |
Forgiveness of related party loans | $ 0 | $ 101,659 | |
Preferred stock, shares authorized | 1,000,000 | ||
Management fees | $ 10,991 | 0 | |
CEO [Member] | Series A Preferred Stock [Member] | |||
Preferred stock, shares authorized | 500,000 | ||
Preferred stock , shares par value | $ 0.0001 | ||
Consideration | $ 50 | ||
Management fees | $ 10,991 | ||
Former sole officer and director [Member] | |||
Proceeds from loans | 29,391 | ||
Loans payable, Balance | 101,659 | ||
Forgiveness of related party loans | $ 101,659 |
COMMITTMENTS AND CONTINGENCIES
COMMITTMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | |
Jan. 31, 2021 | Apr. 30, 2021 | Jan. 21, 2021 | |
Consulting Service Agreement [Member] | January 1, 2021 [Member] | |||
Ordinary common stock shares issued | 250,000 | ||
Market price per shares | $ 0.95 | ||
Ordinary common stock shares , value | $ 237,500 | ||
Consulting Service Agreement [Member] | January 1, 2021 [Member] | Consultant [Member] | |||
Ordinary common stock shares issued | 250,000 | ||
Las Vegas [Member] | |||
Office lease cost | $ 4,500 | ||
Common shares payable | 2,500 | ||
Cash payable | $ 2,000 | ||
Lease term | 6 years | ||
Florida [Member] | |||
Office lease cost | $ 1,857 | ||
Lease term | 12 years |
INCOME TAX (Details)
INCOME TAX (Details) - USD ($) | 12 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
INCOME TAX | ||
Net loss | $ (624,454) | $ (27,366) |
Add: Stock based compensation | 259,500 | 0 |
Net operating loss | $ (364,954) | $ (27,366) |
INCOME TAX (Details 1)
INCOME TAX (Details 1) - USD ($) | 12 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
INCOME TAX | ||
Net operating loss carryforward | $ (483,770) | $ (118,816) |
Effective tax rate | 21.00% | 21.00% |
Deferred tax asset | $ (101,592) | $ (24,951) |
Less: Valuation allowance | 101,592 | 24,951 |
Net deferred asset | $ 0 | $ 0 |
INCOME TAX (Details Narrative)
INCOME TAX (Details Narrative) - USD ($) | 12 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
INCOME TAX | ||
Change in valuation allowance | $ 76,640 | $ 5,746 |
Net operating losses expiration period | which begin to expire between 2036 and 2038. | |
Net operating losses | $ (483,770) | |
Net operating loss carry forwards ownership changes | 50 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | Sep. 10, 2021 | Sep. 08, 2021 | Jun. 01, 2021 | May 21, 2021 | Apr. 30, 2021 | Apr. 30, 2020 | Jun. 16, 2021 | Jun. 19, 2020 |
Restricted stock awards issued to employees and consultants, shares | 22,000 | 0 | ||||||
Common stock share issued | 9,666,674 | 9,316,674 | 9,316,674 | |||||
Proceeds from issuance of stocks | $ 80 | |||||||
Class A Common Stock [Member] | ||||||||
Common stock share issued | 115,000 | |||||||
Subsequent Event [Member] | Non-affiliates [Member] | ||||||||
Common stock share issued | 7,200,000 | |||||||
Proceeds from issuance of stocks | $ 17,640,000 | |||||||
Shares issued price per share | $ 2.45 | |||||||
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Investor [Member] | ||||||||
Convertible promissory note | $ 168,000 | |||||||
Purchase price | $ 150,000 | |||||||
Exercise price | $ 1.25 | |||||||
Accrued interest | 9.00% | |||||||
Conversion price | $ 1 | |||||||
Warrants to purchase common stock shares | 280,000 | |||||||
Warrants to purchase common stock shares exercise price | $ 1.25 | |||||||
Subsequent Event [Member] | 2020 Incentive Plan [Member] | ||||||||
Restricted stock awards issued to employees and consultants, shares | 1,959,642 | |||||||
Restricted stock awards issued price per share | $ 2.45 | |||||||
Restricted stock awards issued to employees and consultants, amount | $ 4,801,123 | |||||||
Subsequent Event [Member] | Series A Non-Voting Redeemable Preferred [Member] | ||||||||
Aggregate warrants issued | 448,000 | |||||||
Subsequent Event [Member] | Class A Common Stock [Member] | ||||||||
Sale and issuance of stocks | 19,625,000 | |||||||
Subsequent Event [Member] | Warrants [Member] | ||||||||
Warrants to purchase common stock shares purchase price per unit | $ 15,000 | |||||||
Warrants to purchase common stock shares | 10,000 | |||||||
Warrants to purchase common stock shares exercise price | $ 2 | |||||||
Subsequent Event [Member] | Common Stocks [Member] | ||||||||
Shares issued price per share | $ 1.50 | |||||||
Sale and issuance of stocks | 18,941,316 | 10,000 | ||||||
Subsequent Event [Member] | Series A Non - Voting Redeemable Preferred Stock [Member] | ||||||||
Shares issued price per share | $ 10 | |||||||
Sale and issuance of stocks | 203,750 | |||||||
Redeemable preferred stock | 175,000 | |||||||
Sale and issuance of stocks, amout | $ 5,000,000,000,000 | |||||||
Cash consideration per share amount | $ 17.50 |