Brilliant N.e.v. (CCYC) 10-Q 18 Mar 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jan. 31, 2024	Mar. 08, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jan. 31, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--07-31
Entity File Number	333-213698
Entity Registrant Name	BRILLIANT N.E.V. CORP.
Entity Central Index Key	0001681769
Entity Tax Identification Number	30-0944559
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	Room 805
Entity Address, Address Line Two	West Building 4
Entity Address, Address Line Three	Xintiandi Business Center
Entity Address, City or Town	Gongshu District, Hangzhou City
Entity Address, Country	CN
Entity Address, Postal Zip Code	95035
Country Region	86
City Area Code	189
Local Phone Number	1098-4577
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
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

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Jan. 31, 2024	Jul. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 4,830	$ 1,302
Prepaid expenses	180
Total current assets	5,010	1,302
TOTAL ASSETS	5,010	1,302
CURRENT LIABILITIES:
Accounts payable	4,000	2,321
Advances - related party	32,645	4,382
TOTAL CURRENT LIABILITIES	36,645	6,703
TOTAL LIABILITIES	36,645	6,703
Commitments and Contingencies
STOCKHOLDERS' DEFICIT
Common Stock, 0.001 par value, authorized 345,000,000  shares, 153,105,464 shares issued and outstanding as of January 31, 2024 and July 31, 2023	153,105	153,105
Additional paid in capital	114,333	114,333
Accumulated other comprehensive income (loss)
Accumulated deficit	(299,073)	(272,839)
TOTAL STOCKHOLDERS' DEFICIT	(31,635)	(5,401)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 5,010	$ 1,302

BALANCE SHEETS (Unaudited) (Par

BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jan. 31, 2024	Jul. 31, 2023
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

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Income Statement [Abstract]
Revenues
Cost of goods sold
Gross profit (loss)
EXPENSES
Professional fees	11,000	3,200	23,230	25,200
General and administrative Expenses	2,018	(78)	3,005	4,820
TOTAL OPERATING EXPENSES	13,018	3,122	26,235	30,020
LOSS FROM CONTINUING OPERATIONS	(13,018)	(3,122)	(26,235)	(30,020)
LOSS FROM DISCONTINUED OPERATIONS		(66,723)		(133,048)
Net loss before tax	(13,018)	(69,845)	(26,235)	(163,068)
Provision for income taxes
NET LOSS	(13,018)	(69,845)	(26,235)	(163,068)
OTHER COMPREHENSIVE ITEM
Foreign currency translation gain (loss)		(27,194)		(4,039)
COMPREHENSIVE LOSS	$ (13,018)	$ (97,039)	$ (26,235)	$ (167,107)
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - BASIC	$ 0		$ 0
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - DILUTED	0		0
NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - BASIC		0		0
NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - DILUTED		$ 0		$ 0
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	153,105,464	153,105,464	153,105,464	153,105,464
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED	153,105,464	153,105,464	153,105,464	153,105,464

STATEMENTS OF CHANGES IN SHAREH

STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jul. 31, 2022	$ 153,105	$ 213,251	$ 12,058	$ (876,571)	$ (498,157)
Beginning Balance, shares at Jul. 31, 2022	153,105,464
Currency translation			23,155		23,155
Net loss – discontinued operations				(66,325)	(66,325)
Net loss – continuing operations				(26,898)	(26,898)
Ending balance, value at Oct. 31, 2022	$ 153,105	213,251	35,213	(969,794)	(568,225)
Ending Balance, shares at Oct. 31, 2022	153,105,464
Currency translation			(27,194)		(27,194)
Net loss – discontinued operations				(66,723)	(66,723)
Net loss – continuing operations				(3,122)	(3,122)
Ending balance, value at Jan. 31, 2023	$ 153,105	213,251	8,019	(1,039,639)	(665,264)
Ending Balance, shares at Jan. 31, 2023	153,105,464
Beginning balance, value at Jul. 31, 2023	$ 153,105	114,333		(272,839)	(5,401)
Beginning Balance, shares at Jul. 31, 2023	153,105,464
Net Loss				(13,216)	(13,216)
Ending balance, value at Oct. 31, 2023	$ 153,105	114,333		(286,055)	(18,617)
Ending Balance, shares at Oct. 31, 2023	153,105,464
Net Loss				(13,018)	(13,018)
Ending balance, value at Jan. 31, 2024	$ 153,105	$ 114,333		$ 299,073	$ (31,635)
Ending Balance, shares at Jan. 31, 2024	153,105,464

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
OPERATING ACTIVITIES
Net loss from continuing operations	$ (26,235)	$ (30,020)
Net loss from discontinued operations		(133,049)
Adjustments to reconcile net cash used in operating activities:
Right-of-use/lease liability adjustments		1,620
Decrease in assets:
Change in prepaid expenses	(180)	(1,018)
Changes in deposit
Increase in liabilities:
Accounts payable	1,679
Increase in discontinued operations		26,660
Net cash provided (used) in continuing operation activities	(24,735)	(29,418)
Net cash provided (used) in discontinued operation activities		(106,389)
FINANCING ACTIVITIES:
Advances (debt adjustment)from related party - continuing operation	28,263	40,085
Advances from related party - discontinued operation		121,229
Total Net Cash Provided (used) by Financing Activities	28,263	161,314
EFFECT OF EXCHANGE RATE CHANGE ON CASH		507
NET INCREASE (DECREASE) IN CASH	3,528	26,014
CASH AT BEGINNING OF PERIOD	1,302	19,511
CASH AT END OF THE PERIOD	4,830	45,525
CASH AT END OF THE PERIOD – CONTINNUING OPERATIONS	4,830	12,102
CASH AT END OF THE PERIOD – DISCONTINUED OPERATIONS		33,423
Supplemental Cash flow Information:
Interest Paid
Taxes Paid
Supplemental Disclosure of Non Cash Lease Activity:
Recognition of Right of use asset
Recognition of Lease liability

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	6 Months Ended
	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Brilliant N.E.V. Corp. (formerly Clancy Corp.) (“Company”) was incorporated on March 22, 2016 under the laws of the State of Nevada, USA. The Company initially was formed for the purpose of producing and selling handcrafted soaps. Except where content requires, the Company includes its subsidiaries. Brilliant N.E.V. Corp. (formerly Clancy Corp.) registered a wholly foreign-owned entity in Shanghai, China on April 13, 2020 named Shanghai Clancy Enterprise Management Co., Ltd. (Shanghai Clancy). Shanghai Clancy registered a wholly-owned subsidiary in Beijing on April 24, 2020. Its name is Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy). The main business scope is technology development, transfer, consultation, services and promotion. 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 providing business 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. In June 2023, the Company's former major shareholder and sole director Mr. Xiangying Meng and other shareholders, entered into a stock purchase agreement (SPA) with Mr. Guangzhe Su. Pursuant to the SPA, Mr. Guangzhe Su became the major shareholder and the Company's CEO. Due to the ownership change and pursuant to the SPA, the Company ceased the operations of its China subsidiaries. In July 2023, based on the majority shareholders' approval, the Company changed its name from Clancy Corp. to Brilliant N.E.V Corp. The Company emended its Articles of Incorporation with the Nevada Secretary of State to effect the name change and also has filed an Issuer Company-Related Action Notification Form with FINRAto reflect the change and applied for a new stock symbol. In October 2023, the Company, Shanghai Clancy, and HongshanHongshanYuanda Limited (a company owned by Mr. Meng, the current Chief Financial Officer of the Company) entered an agreement to assign, transfer and convey all of its rights, titles and interest in and to Shanghai Clancy, along with its ownership of Beijing Clancy, to Hongshan Yuanda Limited. The effective date of this transfer is June 30, 2023. As of the date of transfer, Shanghai Clancy had no operations and no assets and all liabilities were assigned to the transferee.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jan. 31, 2024
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 six months ended January 31, 2024, 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 financial statements do not include any adjustments that might result from the outcome of this uncertainty. 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 The impact on the Company’s result of operation and the financial statements was immaterial as of January 31, 2024.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jan. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, the balance sheet as of July 31, 2023, which has been derived from audited financial statements, and these unaudited condensed financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended January 31, 2024 are not necessarily indicative of the results to be expected for the entire fiscal year ending July 31, 2024 or for any future period. These unaudited condensed financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended July 31, 2023. Fiscal year end The Company’s year-end is July 31 st 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. The cash is deposited in the institution insured by the Federal Deposit Insurance Corporation (FDIC). The Company has not experienced any losses in such accounts. 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 balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the 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 January 31, 2024 and July 31, 2023 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 Brilliant N.E.V Corp. (formerly Clancy Corp.)and reporting currency of the Company is the United States dollar (“USD” or “$”). The Company has discontinued operations in China where the local currency of RMB was used to prepare the financial statements which were translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the discontinued 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 discontinued 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 ended January 31, 2024 and 2023 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 financial statements were as follows: Schedule of exchange rates January 31, 2024 January 31, 2023 Period end USD: RMB exchange rate N/A * 6.76 Average USD: RMB exchange rate N/A * 7.01 *The Company discontinued its operations in China in June 2023. Foreign Operations All of the Company’s discontinued operations and assets are located in Beijing China. The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic (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. As of January 31, 2024, and July 31, 2023, there were no potentially dilutive equity instruments issued or outstanding. Comprehensive Income The Company follows Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 220, “Comprehensive Income,” in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, there is no such a translation adjustment for the six months ended January 31, 2024, and the translation adjust was immaterial for the six months ended January 31, 2023. Financial Instruments The carrying value of the Company’s short-term financial instruments, such as 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. To date, the Company has not adopted a stock option plan and has not granted any stock options. Recently Adopted Accounting Pronouncements As of January 31, 2024, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s consolidated financial statements.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Jan. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 4 – DISCONTINUED OPERATIONS In June 2023, the Company's former major shareholder and sole director Mr. Xiangying Meng along with other shareholders, entered into a stock purchase agreement (SPA) with Mr. Guangzhe Su. Pursuant to the SPA, Mr. Guangzhe Su became the major shareholder and the Company's CEO. Due to the ownership change and pursuant to the SPA, the Company ceased the operations of its China subsidiaries in June 2023. The following table presents the components of discontinued operations in relation to the China subsidiaries reported in the statements of operations: Schedule of components of discontinued operations Six Months Ended Jan 31, Three Months Ended Jan 31, 2024 2023 2024 2023 Net sales Operating costs and expenses - 133,070 - 66,733 Income (loss) from operations before other income taxes - (133,070 ) - (66,733 ) Other income (loss) - 22 - 9 Income (loss) before income taxes - (133,048 ) - (66,724 ) Income tax - - - - Income (loss) from discontinued operations - (133,048 ) - (66,724 ) Comprehensive income statement Net income (loss) from discontinued operations - (133,048 ) - (66,724 ) Foreign currency translation gain (loss) - (4,039 ) - (27,194 ) Total comprehensive income (loss) from discontinued operations - (137,087 ) - (93,918 )

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 5 – COMMITMENTS AND CONTINGENCIES On October 19, 2017 the Company entered into a five-year rental agreement for a $540 monthly fee, starting on November 1, 2017. Leased Premise with the area of 74 square meters is located at 8 Stasinou Ave, Lefkosia 1060, Nicosia, Cyprus. Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date, the Company has capitalized the present value of the minimum lease payments commencing August 1, 2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be non-lease components. Because of the ownership change in June 2019, the Company did not use the premise anymore and no payments were made. But the Company adopted ASC 842 accounting for leases and continued to accumulated lease liabilities up to the quarter ended July 31, 2023. Due to the ownership change and pursuant to the SPA, the former major shareholder assumed the accumulated lease liabilities of $ 21,060 On May 26, 2020, the Company entered into a three-year rental agreement for a 32,000 RMB per month. The office is located on the second floor of BYD 4S shop, No 56, Dongsihuan South Road, Chaoyang District, Beijing. In May 2020, the Company paid 480,000RMB ($67,306) including the first year rent of 384,000 RMB ($53,845) and three month rent of 96,000 RMB ($13,461) as the security deposit. In May 2021, the Company paid 384,000 RMB ($60,300) for the second year. In June 2022, the Company paid 384,000 RMB ($59,170) for the third and final year. Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date, the Company has capitalized the present value of the minimum lease payments commencing August 1, 2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be non-lease components. Total lease expense under operating leases for the three and six months ended January 31, 2024 and 2023 were $ 0 21,060 As of January 31, 2024 and July 31, 2023, both leases ended and there were no

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jan. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS The Company’s former major shareholder and now Chief Financial Officer has been funding the Company for its operations on an as needed basis. For the six months ended January 31, 2023, the Company received $ 161,314 40,085 121,229 28,263 32,645 4,382

RESEARCH AND DEVELOPMENT EXPENS

RESEARCH AND DEVELOPMENT EXPENSE	6 Months Ended
	Jan. 31, 2024
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 six months ended January 31, 2024 and 2023, the R&D expenses were $ 0 41,534

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES (G&A)	6 Months Ended
	Jan. 31, 2024
General And Administrative Expenses
GENERAL AND ADMINISTRATIVE EXPENSES (G&A)	NOTE 8 – GENERAL AND ADMINISTRATIVE EXPENSES (G&A) The general and administrative expenses contain the following – continuing operations: Schedule of general and administrative expenses For six months ended Jan 31 For three months ended Jan 31 Description 2024 2023 2024 2023 Payroll and payroll tax expenses Professional fees 23,230 25,200 11,000 3,200 Lease expenses - 1,620 - - Other G&A 3,005 3,200 2,018 (78 ) Total 26,235 30,020 13,018 3,122 The general and administrative expenses contain the following – discontinued operations: For six months ended Jan 31 For three months ended Jan 31 Description 2024 2023 2024 2023 Payroll and payroll tax expenses - 63,789 - 37,523 Professional fees - - - - Lease expenses - 27,384 - 13,778 Other G&A - 333 - 293 Total - 91,506 - 51,594

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jan. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9 – INCOME TAXES The Company utilizes the asset and liability method of accounting for income taxes in accordance with FASB ASC 740, “Income Taxes”. Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current period and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets also include the prior years’ net operating losses (“NOL”) carried forward. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized. The Company is subject to income taxes by entity on income arising in or derived from the tax jurisdiction in which each entity is domiciled. The Company’s PRC subsidiaries file their income tax returns online with PRC tax authorities. The Company conducts all of its businesses through its subsidiaries and affiliated entities, principally in the PRC. (A) United States (“US”) The Company’s US parent company was incorporated in the US and is subject to U.S. income tax rate of 21% and files U.S. federal income tax return. As of January 31, 2024, the US entity had net operating loss carry forwards for income tax purpose of $ 299,073 (B) PRC The Company’s wholly owned Chinese subsidiary Shanghai Clancy is a wholly foreign-owned entity (“WFOE”). Shanghai Clancy had no business activity from inception through July 31, 2022. The Company’s second tier WOFE subsidiary, Beijing Clancy, is subject to the reduced PRC income tax rate as follows as per Caishui (2019) No. 13 issued by General Administration of Taxation, Ministry of Finance of PRC in January 2019: if the annual taxable income of small enterprises does not exceed RMB 1 million ($152,000), only 25% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 5% of the total taxable income); if the annual taxable income of small enterprises is between RMB 1 million ($152,000) and RMB 3 million ($456,000), only 50% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 10% of the total taxable income). This tax-reduced policy is effective for the period from January 1, 2019 through December 31, 2022. Beijing Clancy did not have taxable income for year ending July 31, 2023. Tax losses of the operating subsidiaries of the Company may be carried forward for five years in China. Due to the discontinuation of the Chinese subsidiaries, the NOL does not have any impact to the Company as of January 31, 2024.

SHARES ISSUED FOR EQUITY FINANC

SHARES ISSUED FOR EQUITY FINANCING	6 Months Ended
	Jan. 31, 2024
Shares Issued For Equity Financing
SHARES ISSUED FOR EQUITY FINANCING	NOTE 10 - SHARES ISSUED FOR EQUITY FINANCING In December 2020, the Company issued 150,000,000 0.002 300,000 153,105,464

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jan. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - 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.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jan. 31, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, the balance sheet as of July 31, 2023, which has been derived from audited financial statements, and these unaudited condensed financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended January 31, 2024 are not necessarily indicative of the results to be expected for the entire fiscal year ending July 31, 2024 or for any future period. These unaudited condensed financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended July 31, 2023.
Fiscal year end	Fiscal year end The Company’s year-end is July 31 st
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. The cash is deposited in the institution insured by the Federal Deposit Insurance Corporation (FDIC). The Company has not experienced any losses in such accounts.
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 balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the 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 January 31, 2024 and July 31, 2023 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 Brilliant N.E.V Corp. (formerly Clancy Corp.)and reporting currency of the Company is the United States dollar (“USD” or “$”). The Company has discontinued operations in China where the local currency of RMB was used to prepare the financial statements which were translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the discontinued 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 discontinued 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 ended January 31, 2024 and 2023 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 financial statements were as follows: Schedule of exchange rates January 31, 2024 January 31, 2023 Period end USD: RMB exchange rate N/A * 6.76 Average USD: RMB exchange rate N/A * 7.01 *The Company discontinued its operations in China in June 2023.
Foreign Operations	Foreign Operations All of the Company’s discontinued operations and assets are located in Beijing China. The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted.
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 (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. As of January 31, 2024, and July 31, 2023, there were no potentially dilutive equity instruments issued or outstanding.
Comprehensive Income	Comprehensive Income The Company follows Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 220, “Comprehensive Income,” in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, there is no such a translation adjustment for the six months ended January 31, 2024, and the translation adjust was immaterial for the six months ended January 31, 2023.
Financial Instruments	Financial Instruments The carrying value of the Company’s short-term financial instruments, such as 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. 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 January 31, 2024, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jan. 31, 2024
Accounting Policies [Abstract]
Schedule of exchange rates	Schedule of exchange rates January 31, 2024 January 31, 2023 Period end USD: RMB exchange rate N/A * 6.76 Average USD: RMB exchange rate N/A * 7.01

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jan. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of components of discontinued operations	Schedule of components of discontinued operations Six Months Ended Jan 31, Three Months Ended Jan 31, 2024 2023 2024 2023 Net sales Operating costs and expenses - 133,070 - 66,733 Income (loss) from operations before other income taxes - (133,070 ) - (66,733 ) Other income (loss) - 22 - 9 Income (loss) before income taxes - (133,048 ) - (66,724 ) Income tax - - - - Income (loss) from discontinued operations - (133,048 ) - (66,724 ) Comprehensive income statement Net income (loss) from discontinued operations - (133,048 ) - (66,724 ) Foreign currency translation gain (loss) - (4,039 ) - (27,194 ) Total comprehensive income (loss) from discontinued operations - (137,087 ) - (93,918 )

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (G&A) (Tables)	6 Months Ended
	Jan. 31, 2024
General And Administrative Expenses
Schedule of general and administrative expenses	Schedule of general and administrative expenses For six months ended Jan 31 For three months ended Jan 31 Description 2024 2023 2024 2023 Payroll and payroll tax expenses Professional fees 23,230 25,200 11,000 3,200 Lease expenses - 1,620 - - Other G&A 3,005 3,200 2,018 (78 ) Total 26,235 30,020 13,018 3,122 The general and administrative expenses contain the following – discontinued operations: For six months ended Jan 31 For three months ended Jan 31 Description 2024 2023 2024 2023 Payroll and payroll tax expenses - 63,789 - 37,523 Professional fees - - - - Lease expenses - 27,384 - 13,778 Other G&A - 333 - 293 Total - 91,506 - 51,594

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jan. 31, 2023
Period end USD: RMB exchange rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Average USD: RMB exchange rate	0.0676
Period Average USD: RMB exchange rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Average USD: RMB exchange rate	0.0701

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Operating costs and expenses	$ 13,018	$ 3,122	$ 26,235	$ 30,020
Income (loss) from operations before other income taxes	(13,018)	(69,845)	(26,235)	(163,068)
Income tax
Income (loss) from discontinued operations		(66,723)		(133,048)
Comprehensive income statement
Foreign currency translation gain (loss)		(27,194)		(4,039)
Total comprehensive income (loss) from discontinued operations	(13,018)	(97,039)	(26,235)	(167,107)
Discontinued Operations [Member]
Operating costs and expenses		133,070		66,733
Income (loss) from operations before other income taxes		(133,070)		(66,733)
Other income (loss)		22		9
Income (loss) before income taxes		(133,048)		(66,724)
Income tax
Income (loss) from discontinued operations		(133,048)		(66,724)
Comprehensive income statement
Net income (loss) from discontinued operations		(133,048)		(66,724)
Foreign currency translation gain (loss)		(4,039)		(27,194)
Total comprehensive income (loss) from discontinued operations		$ (137,087)		$ (93,918)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Accumulated lease liabilities	$ 21,060
Operating leases expenses	0	$ 21,060
Operating lease right of use assets	$ 0		$ 0

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2024	Jul. 31, 2023
Proceeds from advances related party	$ 161,314
Proceeds from related party debt	28,263
Advance from related party	32,645	$ 4,382
Continuing Operations [Member]
Proceeds from advances related party	40,085
Discontinued Operations [Member]
Proceeds from advances related party	$ 121,229

RESEARCH AND DEVELOPMENT EXPE_2

RESEARCH AND DEVELOPMENT EXPENSE (Details Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Research And Development Expense
Research and development expense	$ 0	$ 41,534

GENERAL AND ADMINISTRATIVE EX_3

GENERAL AND ADMINISTRATIVE EXPENSES (G&A) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Professional fees	$ 11,000	$ 3,200	$ 23,230	$ 25,200
Continuing Operations [Member]
Professional fees	11,000	3,200	23,230	25,200
Lease expenses				1,620
Other G&A	2,018	(78)	3,005	3,200
Total	13,018	3,122	26,235	30,020
Discontinued Operations [Member]
Payroll and payroll tax expenses		37,523		63,789
Professional fees
Lease expenses		13,778		27,384
Other G&A		293		333
Total		$ 51,594		$ 91,506

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Jan. 31, 2024 USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 299,073

SHARES ISSUED FOR EQUITY FINA_2

SHARES ISSUED FOR EQUITY FINANCING (Details Narrative) - USD ($)	1 Months Ended
	Dec. 31, 2020	Jan. 31, 2024	Jul. 31, 2023
Share price	$ 0.002
Proceeds from private placement	$ 300,000
Common stock, shares issued		153,105,464	153,105,464
Common stock, shares outstanding		153,105,464	153,105,464
Common Stock [Member]
Shares issued	150,000,000