Treasure & Shipwreck Recovery (BLIS) 10-Q/A 26 Sep 22 2023 Q1 Quarterly report (amended) Financial data

Cover

Cover - shares	3 Months Ended
	Jul. 31, 2022	Aug. 13, 2022
Cover [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	The purpose of this amendment on Form 10-Q/A to Treasure & Shipwreck Recover, Inc.'s Quarterly Report on Form 10-Q for the period ended July 31, 2022, filed with the Securities and Exchange Commission on September 19, 2022 is solely to furnish the Inline eXtensible Business Reporting Language (iXBRL) data under Exhibit 101 and 104 to the Form 10-Q in accordance with Rule 405 of Regulation S-T.No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jul. 31, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--04-30
Entity File Number	333-219700
Entity Registrant Name	Treasure & Shipwreck Recovery, Inc.
Entity Central Index Key	0001703625
Entity Primary SIC Number	7310
Entity Tax Identification Number	37-1844836
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	13046 Racetrack Road
Entity Address, Address Line Two	#234
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33626
City Area Code	(813)
Local Phone Number	504-7831
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,115,169

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 31, 2022	Apr. 30, 2022
Current Assets
Cash	$ 4,515	$ 47,003
Total current assets	4,515	47,003
Fixed Assets
Fixed assets, net of depreciation	18,011	21,644
Total fixed assets	18,011	21,644
Other Assets
Security deposit	1,000	11,000
Total other assets	1,000	11,000
Total Assets	23,526	79,647
Current liabilities
Accounts payable	31,482	30,350
Accrued expenses	86,324	66,332
Customer deposits	8,700	8,700
Convertible notes payable, net of discounts	795,666	774,552
Short term loans	16,763	16,763
Related party convertible loan	53,890	53,890
Total current liabilities	992,825	950,587
Total Liabilities	992,825	950,587
Stockholders’ Deficit
Preferred stock, $0.001 par value; 100 shares authorized, 51 shares issued and outstanding.
Common stock, par value $0.001; 75,000,000 shares authorized, 11,155,169 and 9,488,502 shares issued at July 31, 2022 and April 30, 2022, respectively	11,156	9,489
Common stock to be issued	118,500	118,500
Additional paid in capital	2,383,862	2,335,529
Accumulated deficit	(3,482,817)	(3,334,458)
Total Stockholders’ Deficit	(969,299)	(870,940)
Total Liabilities and Stockholders’ Deficit	$ 23,526	$ 79,647

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 31, 2022	Apr. 30, 2022
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	100	100
Preferred Stock, Shares Issued	51	51
Preferred Stock, Shares Outstanding	51	51
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares, Issued	11,155,169	9,488,502
Common Stock, Shares, Outstanding	11,155,169	9,488,502

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Income Statement [Abstract]
REVENUES
Cost of revenues
Gross profit
OPERATING EXPENSES
Boat expenses	34,465	117,621
Professional fees	20,088	58,089
Consulting and accounting	23,486	50,408
General and administrative expenses	13,581	42,333
Research and Development		20,000
Legal Fees	12,000	14,750
Labor		11,605
Depreciation	3,633	3,633
TOTAL OPERATING EXPENSES	107,253	318,439
NET LOSS FROM OPERATIONS	(107,253)	(318,439)
OTHER EXPENSES
Interest expense	41,106	171,670
NET LOSS BEFORE INCOME TAXES	(148,359)	(490,109)
Provision for income taxes
NET LOSS	$ (148,359)	$ (490,109)
NET LOSS PER SHARE: BASIC AND DILUTED	$ (0.02)	$ (0.05)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	9,673,687	9,160,946

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES TO STOCKHOLDERS' DEFICIT (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Common Stock to be Issued [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Apr. 30, 2021		$ 8,147	$ 312,500	$ 1,709,258	$ (1,264,891)	$ 765,014
Beginning Balance, Shares at Apr. 30, 2021	51	8,146,502
Common stock issued for financing fees		$ 800		200,875		201,675
Common stock issued for financing fees, Shares		800,000
Stock compensation		$ 350	(204,500)	204,150
Stock compensation, Shares		350,000
Warrants issued with debt				158,325		158,325
Warrants issued for services				11,700		11,700
Net loss					(490,109)	(490,109)
Ending balance, value at Jul. 31, 2021		$ 9,297	108,000	2,284,308	(1,755,000)	646,605
Ending Balance, Shares at Jul. 31, 2021	51	9,296,502
Beginning balance, value at Apr. 30, 2022		$ 9,489	118,500	2,335,529	(3,334,458)	(870,940)
Beginning Balance, Shares at Apr. 30, 2022	51	9,488,502
Common stock issued for financing fees						201,675
Stock compensation, Shares		350,000
Warrants issued with debt
Net loss					(148,359)	(148,359)
Sale of common stock		$ 1,667		48,333		50,000
Sale of common stock, Shares		1,666,667
Ending balance, value at Jul. 31, 2022		$ 11,156	$ 118,500	$ 2,383,862	$ (3,482,817)	$ (969,299)
Ending Balance, Shares at Jul. 31, 2022	51	11,155,169

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (148,359)	$ (490,109)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	3,633	3,633
Warrants issued for services		11,700
Amortization of discount	21,114	145,409
Changes in operating assets and liabilities:
Security deposits	10,000	(10,000)
Accounts payable	1,132	1,568
Accrued expenses	19,992	(16,875)
CASH FLOWS USED IN OPERATING ACTIVITIES	(92,488)	(354,674)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common stock	50,000
Proceed from sales of convertible notes		400,000
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	50,000	400,000
NET CHANGE IN CASH	(42,488)	45,326
Cash, beginning of period	47,003	197,761
Cash, end of period	4,515	243,087
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest expense
Cash paid for income taxes
NON-CASH OPERATING AND FINANCING ACTIVITIES:
Warrants issued with debt		$ 158,325

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	3 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	Note 1 – ORGANIZATION AND NATURE OF BUSINESS Treasure & Shipwreck Recovery, Inc (“TSR” or the “Company”), was incorporated in the State of Nevada on October 24, 2016 as Beliss Corp. The Company changed its name to Treasure & Shipwreck Recovery Inc. on June 26, 2019. TSR formed TSR Holdings, Inc., a wholly owned subsidiary, on August 22, 2019 as the Company’s operating vehicle to focus on the recovery of sunken treasure from historic shipwrecks. The Company was originally focused on the development of high impact internet marketing, search engine optimization (“SEO”) software and techniques, and the development of digital properties (collectively “Internet Marketing”). On April 6, 2020, TSR formed TSR Media Group, Inc. (“TSR Media”), a wholly owned subsidiary, in order to develop various digital media properties. TSR Media is in the process of developing, through an outside app developer, a treasure search and salvage gaming app.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Jul. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	Note 2 – GOING CONCERN These consolidated financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred net losses since inception, which raises substantial doubt about the Company’s ability to continue as a going concern. Based on its historical rate of expenditures, the Company expects to expend its available cash in less than three months from September 19, 2022. Management’s plans include raising capital through the equity markets to fund operations and, eventually, the generation of revenue through its business. The Company does not expect to generate any significant revenues for the foreseeable future. At July 31, 2022, the Company had net working capital of $ 988,310 Failure to raise adequate capital and generate adequate revenues could result in the Company having to curtail or cease operations. The Company’s ability to raise additional capital through the future issuances of the common stock is unknown. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate adequate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop to a level where it will generate profits and cash flows from operations. These matters raise substantial doubt about the Company’s ability to continue as a going concern; however, the accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. These consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classifications of the liabilities that might be necessary should the Company be unable to continue as a going concern. Covid-19 Disclosure The Company’s operations may be adversely affected by the ongoing outbreak of the coronavirus disease 2019 (“COVID-19”) which was declared a pandemic by the World Health Organization (“WHO”) in March 2020. The ultimate disruption which may be caused by the outbreak is uncertain; however, it may result in a material adverse impact on TSR’s financial position, operations and cash flows. Additionally, it is possible that the Company may face additional challenges in obtaining financing due to COVID-19’s effects on the general economy and the capital markets. If the Company is not able to obtain financing due to COVID-19, then it is highly likely that it will be forced to cease operations. The impact on smaller companies such as TSR of having to cease operations due to the effects of COVID-19 would likely result in the Company not being able to survive and would cause a complete loss of all capital invested in the Company. To date TSR has not suffered any significant setback due to COVID-19 interfering with operations.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation This summary of significant accounting policies of TSR is presented to assist in understanding the Company’s consolidated financial statements. The consolidated financial statements and notes are representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) and have been consistently applied in the preparation of the consolidated financial statements. The Company’s year-end is April 30. Principles of Consolidation The consolidated financial statements of the Company include the accounts of TSR Holdings, Inc. and TSR Media Group, Inc., which are wholly owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The process of preparing consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Significant estimates include the useful life of property and equipment, valuation allowances against deferred tax assets and fair value of non cash equity transactions. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents. There were no cash equivalents at July 31, 2022 and April 30, 2022. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 0 Research and Development Expenses Expenditures for research and development are expensed as incurred. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from contracts with customers. 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 and Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. 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; and d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. The Company offers no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against service revenue. Additionally, to date, the Company has not incurred incremental costs in obtaining a client contract. Basic Loss per Share The Company has adopted the Financial Accounting Standards Board (“FASB”) ASC 260-10, which provides for the calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. The potentially dilutive common stock equivalents for the quarters ended July 31, 2022 and 2021 were excluded from the dilutive loss per share calculation as they would be antidilutive due to the net loss. As of July 31, 2022 and 2021, there were 9,812,327 7,736,596 Fair Value of Financial Instruments The carrying amounts of financial assets and liabilities, such as cash, accounts payable, short term loans, and the Company’s related party loan from a shareholder approximate their fair values because of the short maturity of these instruments. Fixed Assets Fixed assets are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets. Gains and losses upon disposition are reflected in the consolidated statements of operations in the period of disposition. Maintenance and repair expenditures are charged to expense as incurred. Currently the Company’s only assets are a diving vessel and a magnetometer. They are being depreciated over three twelve Impairment of Long-Lived and Intangible Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the book value of the asset may not be recoverable. The Company periodically evaluates whether events and circumstances have occurred that indicate possible impairment. When impairment indicators exist, the Company uses market quotes, if available or an estimate of the future undiscounted net cash flows of the related asset or asset group over the remaining life in measuring whether or not the asset values are recoverable. Identified intangible assets are reviewed for impairment at least annually, or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Stock Based Compensation to Employees and Service Providers The Company recognizes all share-based payments to employees and service providers, including grants of employee stock options, as compensation expense in the consolidated financial statements based on their fair values. That expense will be recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period) or immediately if the share-based payments vest immediately. Convertible Notes Payable The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815, in accordance with the provisions of ASC 470-20, which provides guidance on accounting for convertible securities with beneficial conversion features. ASC 470-10 addresses classification determination for specific obligations, such as short-term obligations expected to be refinanced on a long-term basis, due-on-demand loan arrangements, callable debt, sales of future revenue, increasing rate debt, debt that includes covenants, revolving credit agreements subject to lock-box arrangements and subjective acceleration clauses. Accordingly, the Company records, as a discount to convertible notes, the intrinsic value of such conversion options based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt. Customer Deposits Customer deposits discloses an amount paid by a customer prior to the Company providing it with goods or services. The Company has an obligation to provide the goods or services to the customer or to return the money. 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. Recent Accounting Pronouncements All other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

FIXED ASSETS

FIXED ASSETS	3 Months Ended
	Jul. 31, 2022
Property, Plant and Equipment [Abstract]
FIXED ASSETS	Note 4 – FIXED ASSETS Fixed assets at July 31 and April 30, 2022 are summarized below: Schedule of Fixed Assets Fixed Assets July 31, 2022 April 30, 2022 Diving Vessel $ 36,390 $ 36,390 Magnetometer 24,000 24,000 Accumulated Depreciation (42,379 ) (38,746 ) Fixed Assets, Net $ 18,011 $ 21,644 Depreciation expense was $ 3,633

PURCHASE OF TRADEMARK, GRAPHICS

PURCHASE OF TRADEMARK, GRAPHICS, RELATED MEDIA AND PRODUCT MATERIALS	3 Months Ended
	Jul. 31, 2022
Business Combination and Asset Acquisition [Abstract]
PURCHASE OF TRADEMARK, GRAPHICS, RELATED MEDIA AND PRODUCT MATERIALS	Note 5 – PURCHASE OF TRADEMARK, GRAPHICS, RELATED MEDIA AND PRODUCT MATERIALS The Company entered into a Trademark and Usage Purchase Agreement with Galleon Quest, LLC (“GQ”), a privately held limited liability company, on March 5, 2020. Under the terms of the Trademark and Usage Purchase Agreement, the Company agreed to issue 1,200,000 shares of its restricted common stock to GQ in exchange for the acquisition of a registered trademark and all other developed graphics, including for gaming, web site and all other material for television, multimedia, gaming, food and products such as beverages, and all other issues. In addition, the Company agreed that GQ shall retain the right to ten percent of the gaming rights and five percent of the television media revenue, which shall be for rights of the gaming name rights, as used in all app, online or other gaming as owned by TSR and any television related media. All shares issued by both parties under the agreement have all rights and entitlements as the common stock of every other shareholder of such share class. The purchase of the trademark and related graphics and materials was valued at $636,000 based on fair value of TSR’s shares on the date of the Trademark and Usage Purchase Agreement. At April 30, 2022, the Company wrote down the balance to $0 and recorded an impairment loss of $636,000.

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
	Jul. 31, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE	Note 6 – NOTES PAYABLE Related Party Convertible Loan An officer of the Company has provided a loan to TSR under a convertible promissory note. This convertible promissory note is unsecured, non-interest bearing, and is convertible into common shares of the Company stock at $2.75 per share and due on demand. The balance due to the officer was $ 53,890 On April 20, 2022, the Company entered into a convertible note payable with an individual who is a member of the Company’s Board of Directors. The note payable, with a face value of $50,000, bears interest at 10.0% per annum and is due on July 21, 2022. The convertible note payable is convertible upon default, at the note holder’s option, into the Company’s common shares at a fixed conversation rate of $0.05. The conversion of the note into shares of the Company’s common stock is potentially highly dilutive to current shareholders. If the note holder elects to sell the shares that it has acquired as a result of converting the note into shares of common stock, then any such sales may result in a significant decrease in the market price of the Company’s shares. This convertible promissory note is currently in default due to non payment of principal and interest. Short Term Loans As of July 31 and April 30, 2022, the Company had loans totaling $ 16,763 14,063 2,700 Convertible Notes Payable The following table reflects the convertible notes payable as of July 31, 2022 and April 30, 2022: Schedule of Notes Payable Issue Date Maturity July 31, 2022 April 30, 2022 Rate Conversion Convertible notes payable Face Value 4/26/2021 4/26/2023 $ 250,000 $ 250,000 10.00 % 0.10 Face Value 4/26/2021 4/26/2023 25,000 25,000 10.00 % 0.10 Face Value 5/5/2021 5/5/2023 150,000 150,000 10.00 % 0.10 Face Value 5/7/2021 5/7/2023 100,000 100,000 10.00 % 0.10 Face Value 5/19/2021 5/19/2023 150,000 150,000 10.00 % 0.10 Face Value 12/06/2021 3/6/2023 70,666 70,666 10.00 % 0.10 Face Value 4/20/2022 7/21/2023 50,000 $ 50,000 10.00 % 0.05 Face value 795,666 795,666 Less unamortized discounts - 21,114 Balance convertible notes payable $ 795,666 $ 774,552 The convertible notes payable are convertible into a fixed number of shares and with no down round protection features. The Company accounted for the beneficial conversion features based on the intrinsic value at the date of issuance. During the quarter ended July 31, 2022 and year ended April 30, 2022, the Company recognized beneficial conversion features totaling $0 and $479,579, respectively. The discount from the beneficial conversion features are being amortized through charges to interest expense over the term of the convertible notes payable. The Company recorded interest expense related to the amortization of debt discounts of $21,114 and $145,409 for the quarters ended July 31, 2022 and 2021, respectively. New Convertible Notes Payable Issued During the Three Month Periods Ended July 31, 2022 and 2021 2022 The Company did not enter into any new convertible note payable agreements during the three month period ended July 31, 2022. 2021 On May 5, 2021, the Company entered into a convertible note payable with a corporation. The note payable, with a face value of $150,000, including a $15,000 original issue discount, bears interest at 10.0% per annum and is due on May 5, 2023. The convertible note payable is convertible, at the holder’s option, into the Company’s common shares at a fixed conversation rate of $0.10. The conversion of the note into shares of the Company’s common stock is potentially highly dilutive to current shareholders. If the note holder elects to sell the shares that it has acquired as a result of converting the note into shares of common stock, then any such sales may result in a significant decrease in the market price of the Company’s shares. On May 7, 2021, the Company entered into a convertible note payable with a corporation. The note payable, with a face value of $100,000, including a $10,000 original issue discount, bears interest at 10.0% per annum and is due on May 7, 2023. The convertible note payable is convertible, at the holder’s option, into the Company’s common shares at a fixed conversation rate of $0.10. The conversion of the note into shares of the Company’s common stock is potentially highly dilutive to current shareholders. If the note holder elects to sell the shares that it has acquired as a result of converting the note into shares of common stock, then any such sales may result in a significant decrease in the market price of the Company’s shares. On May 19, 2021, the Company entered into a convertible note payable with a corporation. The note payable, with a face value of $150,000, including a $15,000 original issue discount, bears interest at 10.0% per annum and is due on May 19, 2023. The convertible note payable is convertible, at the holder’s option, into the Company’s common shares at a fixed conversation rate of $0.10. The conversion of the note into shares of the Company’s common stock is potentially highly dilutive to current shareholders. If the note holder elects to sell the shares that it has acquired as a result of converting the note into shares of common stock, then any such sales may result in a significant decrease in the market price of the Company’s shares.

STOCKHOLDERS_ DEFICIT

STOCKHOLDERS’ DEFICIT	3 Months Ended
	Jul. 31, 2022
Equity [Abstract]
STOCKHOLDERS’ DEFICIT	Note 7 – STOCKHOLDERS’ DEFICIT Common Stock The Company is authorized to issue 75,000,000 0.001 Common Stock Issuances During the three month period ended July 31, 2022, the Company issued or was to issue the following shares of restricted common stock: - 1,666,667 50,000 During the three month period ended July 31, 2021, the Company issued the following shares of restricted common stock: - 800,000 201,675 - 350,000 The Company is in the process of canceling the shares issued to an individual from the canceled Southern Amusement transaction. All such shares are held in escrow for cancellation under the Company’s Counsel and President. Series A Preferred Stock On May 1, 2020, the Company’s Board authorized the creation of 100 At July 31, 2022, the Company had 51 shares of Series A preferred shares outstanding. Warrants At April 30, 2022 there were 1,255,667 warrants outstanding with a weighted average exercise price of $0.25, weighted average reaming life of 5 years and an average intrinsic value of $0.11. There were no warrants granted during the three month period ended July 31, 2022. A total of 282,667 warrants expired during the three month period ended ended July 31, 2022. At July 31, 2022, there were 973,000 warrants with a weighted average exercise price of $0.25, weighted average reaming life of 4.75 years, and an average intrinsic value of $0.11.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Note 8 – COMMITMENTS AND CONTINGENCIES Partnering Agreement In April of 2021, TSR entered into an agreement with a limited liability company and an individual consultant who controls the limited liability company for both services and the rights to treasure that is successfully recovered in a known shipwreck area. The term of the agreement is for a minimum of one year. Under the terms of the agreement TSR and the consultant agreed: 1. That the consultant has rights as a third party to certain known treasure sites controlled through a third party. Such rights exist under such agreement between the consultant and the company owning such rights. The consultant has been working such site area for an extensive period, and has produced finds of artifacts, as well as other scanned, researched, and targeted areas for further search and recovery. 2. The consultant is agreeing to take capital in, as well as contributions of available and as available, boats, crew and equipment, which TSR may have in exchange for a percentage of recovery from such site, which the consultant is entitled to from recoveries made. TSR shall receive that portion set out below for such investment of funds. 3. The consultant, agreed to enter into a partnership for such shipwreck noted above where the consultant will work, in exchange for 25% of the net due to the consultant from finds made, during the time period of this agreement, in exchange for $50,000, payable in monthly amounts starting at the time of the first payment. Each payment of $10,000 shall entitle TSR to 5% of such net proceeds up to the 25% of the net due to the consultant. Such net, means that amount after the State of Florida proceeds, and the amount due to the owner of the shipwreck site. Such amount of investment shall entitle TSR to such share for a period to December 31, 2021. In addition, after a two month term of this agreement, TSR will award the consultant 100,000 common shares of restricted stock, and additional shares upon success at the discretion of TSR. 4. TSR shall also contribute, on a project and availability basis, for such operations, supporting vessels through TSR, to include the RV Bellows, with appropriate crew, and use for project site use, for survey use, etc. to support operations directed by the consultant on site from number 1 above, as well as addressed below. TSR shall have the right to contribute crew, technical, divers or other persons to observe and participate on such ventures. 5. Additional sites which may be identified by the consultant for future joint ventures which have not been explored, within or outside the state of Florida waters, where TSR shall provide capital and other materials, crew and vessels, to be agreed upon by the Parties, but wherein TSR if funding such ventures, shall be entitled to 50% of such finds, sites and artifacts. Operations Manager’s Agreement In October of 2020, TSR entered into an agreement with an individual consultant to be the Company’s operations manager for site selection and operational oversight. The term of the agreement is for a minimum of one year. The services to be rendered, on an as needed basis include selection for sites, and personnel for diving for recovery operations, assistance in the selection of personnel, contractors, and parties for wreck site scanning, search operations, and recovery operations of wreck sites, analysis and review of shipwreck sites, interaction with state and governmental authorities as necessary for wreck site approval and operations, and at the option of TSR participate in and have the right to appear in media productions involving the Company. There are additional terms in the agreement where the Company has agreed to pay to the consultant shares of its restricted common stock for successfully locating treasure. Trademark and Usage Purchase Agreement Gaming and Media Rights Payments TSR entered into a Trademark and Usage Purchase Agreement on March 5, 2020, see Note 5 Purchase of Trademark, Graphics, Related Media and Product Materials. Under the terms of the agreement TSR is obligated to pay ten percent of the gaming rights and five percent of television media revenue, which shall be for rights of the gaming name rights, as used in all such app, online or other gaming as owned by TSR and any television related media.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Jul. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Note 9 – RELATED PARTY TRANSACTIONS As of July 31, 2022, an officer of the Company has provided a loan to TSR under a convertible promissory note. This convertible promissory note is unsecured, non-interest bearing, and is convertible into common shares of the Company stock at $2.75 per share and due on demand. The balance due to the officer was $ 53,890

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jul. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Note 10 – SUBSEQUENT EVENTS The Company has evaluated all subsequent events through September 19, 2022, the date the consolidated financial statements were available to be issued. There are no subsequent events to report.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jul. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation This summary of significant accounting policies of TSR is presented to assist in understanding the Company’s consolidated financial statements. The consolidated financial statements and notes are representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) and have been consistently applied in the preparation of the consolidated financial statements. The Company’s year-end is April 30.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of the Company include the accounts of TSR Holdings, Inc. and TSR Media Group, Inc., which are wholly owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The process of preparing consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Significant estimates include the useful life of property and equipment, valuation allowances against deferred tax assets and fair value of non cash equity transactions.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents. There were no cash equivalents at July 31, 2022 and April 30, 2022. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $ 250,000 0
Research and Development Expenses	Research and Development Expenses Expenditures for research and development are expensed as incurred.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from contracts with customers. 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 and Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. 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; and d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. The Company offers no discounts, rebates, rights of return, or other allowances to clients which would result in the establishment of reserves against service revenue. Additionally, to date, the Company has not incurred incremental costs in obtaining a client contract.
Basic Loss per Share	Basic Loss per Share The Company has adopted the Financial Accounting Standards Board (“FASB”) ASC 260-10, which provides for the calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. The potentially dilutive common stock equivalents for the quarters ended July 31, 2022 and 2021 were excluded from the dilutive loss per share calculation as they would be antidilutive due to the net loss. As of July 31, 2022 and 2021, there were 9,812,327 7,736,596
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of financial assets and liabilities, such as cash, accounts payable, short term loans, and the Company’s related party loan from a shareholder approximate their fair values because of the short maturity of these instruments.
Fixed Assets	Fixed Assets Fixed assets are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets. Gains and losses upon disposition are reflected in the consolidated statements of operations in the period of disposition. Maintenance and repair expenditures are charged to expense as incurred. Currently the Company’s only assets are a diving vessel and a magnetometer. They are being depreciated over three twelve
Impairment of Long-Lived and Intangible Assets	Impairment of Long-Lived and Intangible Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the book value of the asset may not be recoverable. The Company periodically evaluates whether events and circumstances have occurred that indicate possible impairment. When impairment indicators exist, the Company uses market quotes, if available or an estimate of the future undiscounted net cash flows of the related asset or asset group over the remaining life in measuring whether or not the asset values are recoverable. Identified intangible assets are reviewed for impairment at least annually, or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
Stock Based Compensation to Employees and Service Providers	Stock Based Compensation to Employees and Service Providers The Company recognizes all share-based payments to employees and service providers, including grants of employee stock options, as compensation expense in the consolidated financial statements based on their fair values. That expense will be recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period) or immediately if the share-based payments vest immediately.
Convertible Notes Payable	Convertible Notes Payable The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815, in accordance with the provisions of ASC 470-20, which provides guidance on accounting for convertible securities with beneficial conversion features. ASC 470-10 addresses classification determination for specific obligations, such as short-term obligations expected to be refinanced on a long-term basis, due-on-demand loan arrangements, callable debt, sales of future revenue, increasing rate debt, debt that includes covenants, revolving credit agreements subject to lock-box arrangements and subjective acceleration clauses. Accordingly, the Company records, as a discount to convertible notes, the intrinsic value of such conversion options based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt.
Customer Deposits	Customer Deposits Customer deposits discloses an amount paid by a customer prior to the Company providing it with goods or services. The Company has an obligation to provide the goods or services to the customer or to return the money.
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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements All other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

FIXED ASSETS (Tables)

FIXED ASSETS (Tables)	3 Months Ended
	Jul. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Fixed Assets	Fixed assets at July 31 and April 30, 2022 are summarized below: Schedule of Fixed Assets
FIXED ASSETS	Fixed Assets July 31, 2022 April 30, 2022 Diving Vessel $ 36,390 $ 36,390 Magnetometer 24,000 24,000 Accumulated Depreciation (42,379 ) (38,746 ) Fixed Assets, Net $ 18,011 $ 21,644

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	3 Months Ended
	Jul. 31, 2022
Debt Disclosure [Abstract]
Schedule of Notes Payable	The following table reflects the convertible notes payable as of July 31, 2022 and April 30, 2022: Schedule of Notes Payable
NOTES PAYABLE	Issue Date Maturity July 31, 2022 April 30, 2022 Rate Conversion Convertible notes payable Face Value 4/26/2021 4/26/2023 $ 250,000 $ 250,000 10.00 % 0.10 Face Value 4/26/2021 4/26/2023 25,000 25,000 10.00 % 0.10 Face Value 5/5/2021 5/5/2023 150,000 150,000 10.00 % 0.10 Face Value 5/7/2021 5/7/2023 100,000 100,000 10.00 % 0.10 Face Value 5/19/2021 5/19/2023 150,000 150,000 10.00 % 0.10 Face Value 12/06/2021 3/6/2023 70,666 70,666 10.00 % 0.10 Face Value 4/20/2022 7/21/2023 50,000 $ 50,000 10.00 % 0.05 Face value 795,666 795,666 Less unamortized discounts - 21,114 Balance convertible notes payable $ 795,666 $ 774,552

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative)	Apr. 30, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working Capital Deficit	$ 988,310

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Property, Plant and Equipment [Line Items]
Cash, FDIC Insured Amount	$ 250,000
Cash, Uninsured Amount	$ 0
Weighted Average Number of Shares Outstanding, Diluted, Adjustment	9,812,327	7,736,596
Automobiles [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Automobiles [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	12 years
Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	12 years

FIXED ASSETS (Details)

FIXED ASSETS (Details) - USD ($)	Jul. 31, 2022	Apr. 30, 2022
Property, Plant and Equipment [Line Items]
Accumulated Depreciation	$ (42,379)	$ (38,746)
Fixed Assets, Net	18,011	21,644
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Magnetometer	36,390	36,390
Equipment [Member]
Property, Plant and Equipment [Line Items]
Magnetometer	$ 24,000	$ 24,000

FIXED ASSETS (Details Narrative

FIXED ASSETS (Details Narrative) - USD ($)	3 Months Ended		15 Months Ended
	Jul. 31, 2022	Jul. 31, 2021	Jul. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 3,633	$ 3,633	$ 3,633

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	2 Months Ended	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2022	Apr. 30, 2022
Short-Term Debt [Line Items]
Debt Instrument, Face Amount	$ 795,666	$ 795,666
Debt Instrument, Face Amount		795,666
Debt Instrument, Unamortized Discount, Current			$ 21,114
Convertible Notes Payable, Current	$ 795,666	795,666	$ 774,552
Convertible Notes Payable 04/26/2021 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Apr. 26, 2021
Debt Instrument, Maturity Date	Apr. 26, 2023
Debt Instrument, Face Amount	$ 250,000	$ 250,000
Debt Instrument, Face Amount	$ 250,000
Debt, Weighted Average Interest Rate	1,000%	1,000%
Debt Instrument, Convertible, Conversion Price	$ 0.10	$ 0.10
Convertible Notes Payable 04/26/2021 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date		Apr. 26, 2021
Debt Instrument, Maturity Date		Apr. 26, 2023
Debt Instrument, Face Amount	$ 25,000	$ 25,000
Debt Instrument, Face Amount		$ 25,000
Debt, Weighted Average Interest Rate	1,000%	1,000%
Debt Instrument, Convertible, Conversion Price	$ 0.10	$ 0.10
Convertible Notes Payable 05/05/2021 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date		May 05, 2021
Debt Instrument, Maturity Date		May 05, 2023
Debt Instrument, Face Amount	$ 150,000	$ 150,000
Debt Instrument, Face Amount		$ 150,000
Debt, Weighted Average Interest Rate	1,000%	1,000%
Debt Instrument, Convertible, Conversion Price	$ 0.10	$ 0.10
Convertible Notes Payable 05/05/2021 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date		May 07, 2021
Debt Instrument, Maturity Date		May 07, 2023
Debt Instrument, Face Amount	$ 100,000	$ 100,000
Debt Instrument, Face Amount		$ 100,000
Debt, Weighted Average Interest Rate	1,000%	1,000%
Debt Instrument, Convertible, Conversion Price	$ 0.10	$ 0.10
Convertible Notes Payable 05/19/2021 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date		May 19, 2021
Debt Instrument, Maturity Date		May 19, 2023
Debt Instrument, Face Amount	$ 150,000	$ 150,000
Debt Instrument, Face Amount		$ 150,000
Debt, Weighted Average Interest Rate	1,000%	1,000%
Debt Instrument, Convertible, Conversion Price	$ 0.10	$ 0.10
Convertible Notes Payable 6 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date		Dec. 06, 2021
Debt Instrument, Maturity Date		Mar. 06, 2023
Debt Instrument, Face Amount	$ 70,666	$ 70,666
Debt Instrument, Face Amount		$ 70,666
Debt, Weighted Average Interest Rate	1,000%	1,000%
Debt Instrument, Convertible, Conversion Price	$ 0.10	$ 0.10
Convertible Notes Payable 7 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date		Apr. 20, 2022
Debt Instrument, Maturity Date		Jul. 21, 2023
Debt Instrument, Face Amount	$ 50,000	$ 50,000
Debt Instrument, Face Amount		$ 50,000
Debt, Weighted Average Interest Rate	1,000%	1,000%
Debt Instrument, Convertible, Conversion Price	$ 0.05	$ 0.05

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	Jul. 31, 2022	Apr. 30, 2022
Extinguishment of Debt [Line Items]
Due to Related Parties, Current	$ 53,890	$ 53,890
Short-Term Debt [Member]
Extinguishment of Debt [Line Items]
Loans Payable	16,763	16,763
Short-term Loan - First Party [Member]
Extinguishment of Debt [Line Items]
Loans Payable	14,063	14,063
Short-term Loan - Second Party [Member]
Extinguishment of Debt [Line Items]
Loans Payable	2,700	2,700
Officer [Member]
Extinguishment of Debt [Line Items]
Due to Related Parties, Current	$ 53,890	$ 53,890

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details Narrative) - USD ($)	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021	Apr. 30, 2022	May 02, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common Stock, Shares Authorized	75,000,000		75,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001		$ 0.001
Stock Issued During Period, Value, New Issues	$ 50,000
Common Stock Issued for Financing Fees	$ 201,675	$ 201,675
Preferred Stock, Shares Authorized	100		100	100
Preferred Stock, Shares Outstanding	51		51
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues	1,666,667
Stock Issued During Period, Value, New Issues	$ 1,667
Common Stock Allocated for Financing Fees (in shares)	800,000
Common Stock Issued for Financing Fees		$ 800
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture	350,000	350,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Jul. 31, 2022	Apr. 30, 2022
Related Party Transactions [Abstract]
Due to Related Parties, Current	$ 53,890	$ 53,890