| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements have been prepared
in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is January 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 year. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities
of six months or less to be cash equivalents. The Company had $21,590 of cash and cash equivalents as of July 31, 2022. Allowance for Doubtful Accounts The allowance for doubtful accounts
represents an estimate by the Company's management of specific accounts deemed uncollectible. The estimate takes into account prior bad
debt experience and customer receivables outstanding for 90 days or more. Allowance for doubtful accounts was $0 as of July 31, 2022. Prepaid Expenses and Deposits Prepaid Expenses are recorded at cost less amortized value. The
Company had $17,614 in prepaid expenses and deposits as of July 31, 2022. 8 Note 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued) Inventories Inventories are stated at the lower of
cost or market. Cost is principally determined using the first-in, first out (FIFO) method. The Company had $0 in finished goods inventory
as of July 31, 2022. The Company had $0 prepaid inventory as of July 31, 2022. Depreciation, Amortization, and Capitalization The Company records depreciation and amortization
when appropriate using straight-line balance method over the estimated useful life of the assets. The Company estimates that the useful
life of necessary equipment is 5 years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major
renewals, and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related
accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. Accounts Payable and Accrued Liabilities Accounts payable discloses a liability
to a creditor, carried on open account, usually for purchases of goods and services. Accrued liabilities represent unpaid goods and services.
The Company had $0 in accounts payable and accrued liabilities as of July 31, 2022. Credit Card Liability Credit card liability represents amounts
owed to credit card issuers for money borrowed to pay merchants for goods and services based on the cardholder’s promise to pay
the card issuer borrowed amounts plus other agreed upon charges. The Company had $0 in credit card liability as of July 31, 2022. Fair Value of Financial Instruments Financial Accounting Standards Board (“FASB”)
Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures These tiers include: Level 1: defined as observable inputs such as quoted prices in active
markets; Level 2: defined as inputs other than quoted prices in active
markets that are either directly or indirectly observable; Level 3: defined as unobservable inputs in which little
or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s
loan from shareholder approximates its fair value due to their short- term maturity. 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 realize. Revenue Recognition The Company recognizes revenue in accordance
with ASC Topic 606, Revenue from Contracts with Customers 9 Specifically, Section 606-10-50 requires
an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into
appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract
liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction
price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made
in applying the requirements to those contracts. For the six months ended July 31, 2022, the Company generated $1,490,000 in revenue. Basic Income (Loss) Per Share The Company computes income (loss)
per share in accordance with ASC Topic 260, Earnings per Share 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 July 31, 2022, there were no potentially dilutive debt or equity instruments issued or outstanding. Comprehensive Income (Loss) Comprehensive income (loss) is defined
as all changes in stockholders’ equity, exclusive of transactions with owners, such as capital investments. Comprehensive income
(loss) includes net income (loss), changes in certain assets and liabilities that are reported directly in equity such as translation
adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of July 31, 2022,
there were no differences between our comprehensive income (loss) and net income (loss). Stock-Based Compensation The Company measures all stock-based
awards granted to employees, directors and non-employees based on the fair value on the date of grant in accordance with ASC Topic 718,
Compensation – Stock Compensation The fair value of stock-based grant
awards is estimated using the fair value of the Company’s most recent historical transaction with third parties. The Company classifies
stock-based compensation expense in its statements of operations in the same manner in which the award recipient’s payroll costs
are classified or in which the award recipient’s service payments are classified. Foreign Currency Translation The Company’s functional and reporting
currency is the U.S. dollar. Transactions may occur in foreign currencies and management has adopted ASC Topic 830, Foreign Currency
Matters Leases The Company determines whether a contract
is or contains a lease at contract inception. Operating leases are included in operating lease right-of-use (“ROU”) assets,
other current liabilities, and operating lease liabilities on our balance sheets. Finance leases are included in property and equipment,
other current liabilities, and other long-term liabilities on the Company’s balance sheets. Operating lease ROU assets and
operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at
commencement date. As most of the Company’s leases do not provide an implicit rate, we use the Company’s incremental
borrowing rate based on the information available at commencement date in determining the present value of future payments. The
operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. The
Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will
exercise that option. Operating lease expense for fixed lease payments is recognized on a straight-line basis over the lease term.
Variable lease payments are generally expensed as incurred and may include certain index-based changes in rent and other non-fixed
payments for services provided by the lessor. The Company’s leases do not contain any material residual guarantees or material
restrictive covenants. 10 Lease arrangements with lease and non-lease
components are generally accounted for separately. For certain equipment leases, such as vehicles, the Company will account for the lease
and non-lease components as a single lease component. Additionally, for certain equipment leases, the Company will apply a portfolio approach
to effectively account for the operating lease ROU assets and liabilities. Risk Factors The following risks could adversely affect
the Company’s business, financial condition, cash flows, and results of operations. These risk factors do not identify all risks
that we face; our operations could also be affected by factors that are not presently known to us or that we currently consider to be
immaterial to our operations. Due to risks and uncertainties, known and unknown, our past financial results may not be a reliable indicator
of future performance, and historical trends should not be used to anticipate results or trends in future years. The COVID-19 pandemic has adversely affected
significant portions of our business and could have a material adverse effect on our financial condition and results of operations. The
Company is subject to numerous pandemic-related risks, including those described below. The degree to which COVID-19 impacts the results
will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to, the duration and
severity of the pandemic, the actions taken to contain the virus or treat its impact, other actions taken by governments, businesses,
and individuals in response to the virus and resulting economic disruption, and how quickly and to what extent normal economic and operating
conditions can resume. We are similarly unable to predict the extent of the impact of the pandemic on our customers, suppliers, vendors,
and other partners, and their financial conditions, but a material effect on these parties could also materially adversely affect us. Risk Factors (Continued) The pandemic has resulted in authorities
imposing, and businesses and individuals implementing, numerous measures to try to contain the virus, such as travel bans and restrictions,
quarantines, shelter-in-place/stay-at-home and social distancing orders, and shutdowns. These measures have impacted and may further impact
our workforce and operations, the operations of our customers, and those of our respective vendors, suppliers, and partners. There is considerable uncertainty regarding
the business impacts from such measures and potential future measures. Shelter-in-place orders and other measures, including work-from-home
and social distancing policies implemented to protect employees. The pandemic has caused the Company to
modify its business practices, including with respect to employee travel; employee work locations; cancellation of physical participation
in meetings, events, and conferences; and social distancing measures. The Company may take further actions as
required by government authorities or others, or that we determine are in the best interests of our employees, customers, suppliers, vendors,
and partners. Work-from-home and other measures introduce additional operational risks, including cybersecurity risks, and have affected
the way we conduct our product development, validation, and qualification, customer support, and other activities, which could have an
adverse effect on our operations. There is no certainty that such measures will be sufficient to mitigate the risks posed by the virus,
and illness and workforce disruptions could lead to unavailability of key personnel and harm our ability to perform critical functions. |
