Brilliant N.e.v. (CCYC) 10-Q 14 Jun 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Apr. 30, 2022	Jun. 13, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Apr. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--07-31
Entity File Number	333-213698
Entity Registrant Name	CLANCY CORP.
Entity Central Index Key	0001681769
Entity Tax Identification Number	30-0944559
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	2nd Floor, BYD
Entity Address, Address Line Two	No. 56, Dongsihuan South Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100023
Country Region	+86
City Area Code	189
Local Phone Number	1098-4577
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		153,105,464

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Apr. 30, 2022	Jul. 31, 2021
CURRENT ASSETS
Cash and equivalents	$ 35,441	$ 54,375
Prepaid expenses	14,917	15,260
Business advances
Total current assets	50,358	69,635
NONCURRENT ASSETS
Deposit - rent	14,507	14,860
Right of use asset, net	62,338	112,515
Total noncurrent assets	76,845	127,375
TOTAL ASSETS	127,202	197,010
CURRENT LIABILITIES
Accounts payable	21,978	30,385
Advance from related party	453,463	222,738
Operating lease liability	75,323	72,648
Total current liabilities	550,764	325,771
Operating lease liability, non-current		3,292
TOTAL LIABILITIES	550,764	329,063
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock, $0.001 par value; authorized 345,000,000 shares; 153,105,464 shares issued and outstanding at July 31, 2021 and April 30, 2022	153,105	153,105
Additional paid-in capital	213,251	213,251
Accumulated other comprehensive loss	6,413	(2,489)
Accumulated deficit	(796,331)	(495,920)
TOTAL EQUITY (DEFICIT)	(423,562)	(132,053)
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$ 127,202	$ 197,010

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Apr. 30, 2022	Jul. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	345,000,000	345,000,000
Common stock, shares, issued	153,105,464	153,105,464
Common stock, shares, outstanding	153,105,464	153,105,464

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Income Statement [Abstract]
Revenues		$ 8,210		$ 24,376
Revenues - related party		6,840		20,312
Total Revenues		15,050		44,688
Cost of revenues		67,687		142,548
Gross loss		(52,638)		(97,861)
Operating expenses
Research and development expense-software	63,745	1,093	204,246	40,624
General and administrative	27,108	21,525	96,220	85,220
Total operating expenses	90,853	22,618	300,466	125,844
Loss from operations	(90,853)	(75,257)	(300,466)	(223,706)
Non-operating income
Interest income	9	196	56	231
Total non-operating loss, net	9	196	56	231
Loss before income tax	(90,844)	(75,061)	(300,411)	(223,475)
Income tax expense	0	0	0	0
Net loss	(90,844)	(75,061)	(300,411)	(223,475)
Other comprehensive item
Foreign currency translation loss	10,638	(1,144)	8,902	(3,059)
Comprehensive loss	$ (80,206)	$ (76,205)	$ (291,509)	$ (226,534)
Basic weighted average shares outstanding	153,105,464	153,105,464	153,105,464	73,435,134
Basic net loss per share	$ 0	$ 0	$ 0	$ 0

STATEMENT OF CHANGES IN SHAREHO

STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT (EQUITY) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jul. 31, 2020	$ 3,105	$ 63,251		$ (147,025)	$ (80,669)
Beginning balance, shares at Jul. 31, 2020	3,105,250
Net loss				(68,517)	(68,517)
Currency translation			(1,824)		(1,824)
Ending balance, value at Oct. 31, 2020	$ 3,105	63,251	(1,824)	(215,542)	(151,010)
Ending balance, shares at Oct. 31, 2020	3,105,250
Shares Issued for Equity Financing	$ 150,000	150,000			300,000
Shares Issued for Equity Financing, shares	150,000,000
Rounding of shares due to stock split, shares	214
Net loss				(79,898)	(79,898)
Currency translation			(91)		(91)
Ending balance, value at Jan. 31, 2021	$ 153,105	213,251	(1,915)	(295,440)	69,002
Ending balance, shares at Jan. 31, 2021	153,105,464
Net loss				(75,061)	(75,061)
Currency translation			(1,144)		(1,144)
Ending balance, value at Apr. 30, 2021	$ 153,105	213,251	(3,059)	(370,500)	(7,202)
Ending balance, shares at Apr. 30, 2021	153,105,464
Beginning balance, value at Jul. 31, 2021	$ 153,105	213,251	(2,489)	(495,920)	(132,053)
Beginning balance, shares at Jul. 31, 2021	153,105,464
Net loss				(106,195)	(106,195)
Currency translation			(1,195)		(1,195)
Ending balance, value at Oct. 31, 2021	$ 153,105	213,251	(3,684)	(602,115)	(239,443)
Ending balance, shares at Oct. 31, 2021	153,105,464
Net loss				(103,371)	(103,371)
Currency translation			(541)		(541)
Ending balance, value at Jan. 31, 2022	$ 153,105	213,251	(4,225)	(705,486)	(343,355)
Ending balance, shares at Jan. 31, 2022	153,105,464
Net loss				(90,844)	(90,844)
Currency translation			10,638		10,638
Ending balance, value at Apr. 30, 2022	$ 153,105	$ 213,251	$ 6,413	$ (796,331)	$ (423,562)
Ending balance, shares at Apr. 30, 2022	153,105,464

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (300,411)	$ (223,475)
Lease expense	49,704	48,983
(Increase) decrease in assets and liabilities:
Business advances		10,422
Prepaid expense	(10)	41,581
Accounts payable	(7,905)	800
Advances from customers		(14,896)
Net cash used in operating activities	(258,622)	(136,585)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from shares issued for equity financing		300,000
Changes in due to related party	240,208	17,565
Net cash provided by financing activities	240,208	317,565
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND EQUIVALENTS	(521)	1,716
NET INCREASE IN CASH AND EQUIVALENTS	(18,934)	182,696
CASH AND EQUIVALENTS, BEGINNING OF PERIOD	54,375	21,821
CASH AND EQUIVALENTS, END OF PERIOD	35,441	204,517
Supplemental cash flow data:
Income tax paid
Interest paid
Supplemental Disclosure of Non-cash lease activities:
Recognition of right of use asset
Recognition of lease liability

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Clancy Corp. (“Company”) was incorporated on March 22, 2016 under the laws of the State of Nevada. On April 13, 2020, the Company registered Shanghai Clancy Enterprise Management Co., Ltd. (Shanghai Clancy) as a wholly foreign-owned entity and as a wholly owned subsidiary in Shanghai, China. Shanghai Clancy had no business activity from inception through April 30, 2022. On April 24, 2020, Shanghai Clancy registered Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy) in Beijing as its wholly-owned subsidiary and a second tier subsidiary of the Company. From August 1, 2020 to April 30, 2021, the Company business centered on providing IT services to a small number of clients. Beginning in May 2021, the Company terminated its IT services and re-focused its business operations to marketing consulting services to small and median sized businesses. Management believes their prior business experience will enable them to assist small and medium sized companies improve their operating efficiencies. The Company will charge its clients based on their performance. Management believes the new business model will reduce internal overhead costs and potentially provide a larger market for its services.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. For the three and nine months ended April 30, 2022, the Company incurred loss, an accumulated deficit and experienced negative cash flow from operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Mr. Meng, the major stockholder, Chief Executive Officer and sole director of the Company, verbally has agreed to provide continued financial support to the Company. The Company’s business objective for the next twelve month and beyond such time will be to expand business operations and increase revenue. The Company will focus on product management, digital marketing, refined user operations, performance optimization, after-sales service, etc. to provide customers with more convenient and high- quality service experience. The Covid-19 pandemic presents novel challenges and a chaotic business environment globally. The duration and intensity of the impact of the Covid-19 to business entities differ geographically. Covid-19 has a limited impact on the Company’s activities since Shanghai Clancy has no activities and Beijing Clancy operations are limited to Beijing, PRC. The impact on the Company’s result of operation and the financial statements was immaterial as of April 30, 2022.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Clancy Corp. and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Fiscal year end The Company’s year-end is July 31. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of three months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values. Concentration of Credit Risk The Company is exposed to credit risk in the normal course of business, primarily related to cash and cash equivalents. Balances at financial institutions and state-owned banks within the PRC are covered by insurance up to RMB 500,000 (US$77,000) per bank. Balances at Federal Deposit Insurance Corporation (“FDIC”) insured bank in US are covered by insurance up to $ 250,000 28,542 6,899 Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease and finance lease ROU assets and liabilities recognized at April 30, 2022 based on the present value of lease payments over the lease term discounted using the rate implicit in the lease. In cases where the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases. Reporting Currency and Translation The financial statements of the Company’s foreign subsidiaries are measured using the local currency, Renminbi (“RMB”), as the functional currency; whereas the functional currency of Clancy Corp. and reporting currency of the Company is the United States dollar (“USD” or “$”). The Company has operations in China where the local currency of RMB is used to prepare the consolidated financial statements which are translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the operations outside the United States. Changes in the exchange rates between this currency and the Company’s reporting currency are partially responsible for some of the periodic changes in the consolidated financial statements. Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Company’s foreign operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in stockholders’ deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the six months period ended April 30, 2022 and 2021 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities. The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows: Schedule of exchange rates April 30, April 30, Period end USD: RMB exchange rate 6.6177 6.6462 Average USD: RMB exchange rate 6.4222 6.4672 Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 ”Earnings per Share”. Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted income (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. In the three and nine months ended April 30, 2022 and 2021, there were no potentially dilutive equity instruments issued or outstanding. Financial Instrument The carrying value of the Company’s short-term financial instruments, such as prepaid expenses, security deposit, accounts payable and advances, approximates their fair values because of their short maturities. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718, “Compensation – Stock Compensation”, which requires that share-based payment transactions with employees be measured based on the grant-date fair value of the equity instrument issued and recognized as compensation expense over the requisite service period. To date, the Company has not adopted a stock option plan and has not granted any stock options. Recently Adopted Accounting Pronouncements As of April 30, 2022 and for the period then ended, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted As of April 30, 2022, there was no recently issued accounting standards adopted which would have a material effect on the Company’s consolidated financial statements.

OPERATING LEASE RIGHT-OF-USE AS

OPERATING LEASE RIGHT-OF-USE ASSETS	9 Months Ended
	Apr. 30, 2022
Operating Lease Right-of-use Assets
OPERATING LEASE RIGHT-OF-USE ASSETS	NOTE 4 - OPERATING LEASE RIGHT-OF-USE ASSETS As of January 31, 2022, the total operating lease Right of Use assets were $ 62,338 15,020 16,481 48,380 49,392

LEASE LIABILITIES- OPERATING LE

LEASE LIABILITIES- OPERATING LEASE	9 Months Ended
	Apr. 30, 2022
Lease Liabilities- Operating Lease
LEASE LIABILITIES- OPERATING LEASE	NOTE 5 - LEASE LIABILITIES- OPERATING LEASE Future minimum lease payments under the operating lease as of April 30, 2022 are: Schedule of Future minimum lease payments 12 months ended April 30, 2023 $ 79,086 12 months ended April 30, 2024 — Total Lease payments 79,086 Less Imputed Interest (3,763 ) Net Lease liability $ 75,324

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Apr. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 - RELATED PARTY TRANSACTIONS The Company’s major shareholder has orally agreed to loan funds to the Company for its operations on an as needed basis. For the nine months ended April 30, 2022 and 2021, the major shareholder loaned the Company $ 240,208 17,565 As of April 30, 2022 and July 31, 2021, the balance owing the major shareholder was $ 453,463 222,738

RESEARCH AND DEVELOPMENT EXPENS

RESEARCH AND DEVELOPMENT EXPENSE	9 Months Ended
	Apr. 30, 2022
Research And Development Expense
RESEARCH AND DEVELOPMENT EXPENSE	NOTE 7 - RESEARCH AND DEVELOPMENT EXPENSE The Company incurred significant expenses in research and development (R&D). For the three months ended April 30, 2022 and 2021, the R&D expenses were $ 63,745 1,093 204,246 40,624

INCOME TAXES

INCOME TAXES	9 Months Ended
	Apr. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 8 - INCOME TAXES Income tax expense was $ 0 As of April 30, 2022, the Company had no no no There is no income tax benefit for the losses for the three and nine months ended April 30, 2022 and 2021, since management has determined that the realization of the net tax deferred asset is not assured and has created a valuation allowance for the entire amount of such benefits.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Apr. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 - SUBSEQUENT EVENTS Management has evaluated subsequent events through the date of filing the financial statements with the Securities and Exchange Commission, the date the financial statements were available to be issued. Management is not aware of any reportable events that occurred subsequent to the balance sheet date up to the date of filing this report.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Clancy Corp. and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.
Fiscal year end	Fiscal year end The Company’s year-end is July 31.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of three months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values.
Concentration of Credit Risk	Concentration of Credit Risk The Company is exposed to credit risk in the normal course of business, primarily related to cash and cash equivalents. Balances at financial institutions and state-owned banks within the PRC are covered by insurance up to RMB 500,000 (US$77,000) per bank. Balances at Federal Deposit Insurance Corporation (“FDIC”) insured bank in US are covered by insurance up to $ 250,000 28,542 6,899
Leases	Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease and finance lease ROU assets and liabilities recognized at April 30, 2022 based on the present value of lease payments over the lease term discounted using the rate implicit in the lease. In cases where the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases.
Reporting Currency and Translation	Reporting Currency and Translation The financial statements of the Company’s foreign subsidiaries are measured using the local currency, Renminbi (“RMB”), as the functional currency; whereas the functional currency of Clancy Corp. and reporting currency of the Company is the United States dollar (“USD” or “$”). The Company has operations in China where the local currency of RMB is used to prepare the consolidated financial statements which are translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the operations outside the United States. Changes in the exchange rates between this currency and the Company’s reporting currency are partially responsible for some of the periodic changes in the consolidated financial statements. Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Company’s foreign operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in stockholders’ deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the six months period ended April 30, 2022 and 2021 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities. The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows: Schedule of exchange rates April 30, April 30, Period end USD: RMB exchange rate 6.6177 6.6462 Average USD: RMB exchange rate 6.4222 6.4672
Basic Income (Loss) Per Share	Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 ”Earnings per Share”. Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted income (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. In the three and nine months ended April 30, 2022 and 2021, there were no potentially dilutive equity instruments issued or outstanding.
Financial Instrument	Financial Instrument The carrying value of the Company’s short-term financial instruments, such as prepaid expenses, security deposit, accounts payable and advances, approximates their fair values because of their short maturities.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718, “Compensation – Stock Compensation”, which requires that share-based payment transactions with employees be measured based on the grant-date fair value of the equity instrument issued and recognized as compensation expense over the requisite service period. To date, the Company has not adopted a stock option plan and has not granted any stock options.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements As of April 30, 2022 and for the period then ended, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted As of April 30, 2022, there was no recently issued accounting standards adopted which would have a material effect on the Company’s consolidated financial statements.

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Schedule of exchange rates	Schedule of exchange rates April 30, April 30, Period end USD: RMB exchange rate 6.6177 6.6462 Average USD: RMB exchange rate 6.4222 6.4672

LEASE LIABILITIES- OPERATING _2

LEASE LIABILITIES- OPERATING LEASE (Tables)	9 Months Ended
	Apr. 30, 2022
Lease Liabilities- Operating Lease
Schedule of Future minimum lease payments	Schedule of Future minimum lease payments 12 months ended April 30, 2023 $ 79,086 12 months ended April 30, 2024 — Total Lease payments 79,086 Less Imputed Interest (3,763 ) Net Lease liability $ 75,324

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Apr. 30, 2022	Apr. 30, 2021
Period End R M B U S D Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Exchange rates	6.6177	6.6462
Period Average R M B U S D Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Exchange rates	6.4222	6.4672

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Apr. 30, 2022USD ($)
FDIC insured limit	$ 250,000
P R C [Member]
Cash	28,542
UNITED STATES
Cash	$ 6,899

OPERATING LEASE RIGHT-OF-USE _2

OPERATING LEASE RIGHT-OF-USE ASSETS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021	Jul. 31, 2021
Operating Lease Right-of-use Assets
Operating lease, right-of-use asset	$ 62,338		$ 62,338		$ 112,515
Operating lease cost	$ 15,020	$ 16,481	$ 48,380	$ 49,392

LEASE LIABILITIES OPERATING LEA

LEASE LIABILITIES OPERATING LEASE (Details)	Apr. 30, 2022USD ($)
Lease Liabilities- Operating Lease
12 months ended April  30, 2023	$ 79,086
12 months ended April 30, 2024
Total Lease payments	79,086
Less Imputed Interest	(3,763)
Net Lease liability	$ 75,324

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Jul. 31, 2021
Related Party Transactions [Abstract]
Proceeds from related party debt	$ 240,208	$ 17,565
Advance from related party	$ 453,463		$ 222,738

RESEARCH AND DEVELOPMENT EXPE_2

RESEARCH AND DEVELOPMENT EXPENSE (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Research And Development Expense
Research and development expense	$ 63,745	$ 1,093	$ 204,246	$ 40,624

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2022	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 0	$ 0	$ 0	$ 0
Unrecognized tax benefits	0		0
Unrecognized tax benefits interest or penalties	0		0
Uncertain tax positions	$ 0		$ 0