Cover
Cover - shares | 9 Months Ended | |
Jan. 31, 2023 | Mar. 21, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jan. 31, 2023 | |
Document Fiscal Period Focus | Q3 | |
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 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 Interactive Data Current | 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 | 28,305,358 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Jan. 31, 2023 | Apr. 30, 2022 |
Current Assets | ||
Cash | $ 47,003 | |
Total current assets | 47,003 | |
Fixed Assets | ||
Fixed assets, net of depreciation | 15,800 | 21,644 |
Total fixed assets | 15,800 | 21,644 |
Other Assets | ||
Security deposit | 1,000 | 11,000 |
Total other assets | 1,000 | 11,000 |
Total Assets | 16,800 | 79,647 |
Current liabilities | ||
Accounts payable | 29,804 | 30,350 |
Accrued expenses | 126,121 | 66,332 |
Customer deposits | 8,700 | 8,700 |
Convertible notes payable, net of discounts | 770,666 | 774,552 |
Short term loans | 2,700 | 16,763 |
Related party convertible loan | 60,890 | 53,890 |
Total current liabilities | 998,881 | 950,587 |
Total Liabilities | 998,881 | 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, 18,019,025 and 9,488,502 shares issued and outstanding at January 31, 2023 and April 30, 2022, respectively | 18,019 | 9,489 |
Common stock to be issued | 118,500 | 118,500 |
Additional paid in capital | 2,579,062 | 2,335,529 |
Accumulated deficit | (3,697,662) | (3,334,458) |
Total Stockholders Deficit | (982,081) | (870,940) |
Total Liabilities and Stockholders Deficit | $ 16,800 | $ 79,647 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jan. 31, 2023 | 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 | 18,019,025 | 9,488,502 |
Common Stock, Shares, Outstanding | 18,019,025 | 9,488,502 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2023 | Jan. 31, 2022 | |
Income Statement [Abstract] | ||||
REVENUES | ||||
Cost of revenues | ||||
Gross profit | ||||
OPERATING EXPENSES | ||||
Consulting and accounting | 3,500 | 27,550 | 87,878 | 100,108 |
Labor | 1,232 | 10,585 | 36,925 | |
Legal Fees | 398 | 8,825 | 19,513 | 33,575 |
Professional fees | 2,000 | 5,448 | 51,088 | 80,614 |
Boat expenses | 3,984 | 11,142 | 73,829 | 246,826 |
Research and Development | 8,000 | |||
General and administrative expenses | 4,303 | 36,335 | 33,565 | 99,891 |
Depreciation | 600 | 3,632 | 5,843 | 10,897 |
TOTAL OPERATING EXPENSES | 14,785 | 94,164 | 282,301 | 616,836 |
NET LOSS FROM OPERATIONS | (14,785) | (94,164) | (282,301) | (616,836) |
OTHER EXPENSES | ||||
Interest expense | 819 | (222,525) | (80,903) | (574,905) |
NET LOSS BEFORE INCOME TAXES | (13,966) | (316,689) | (363,204) | (1,191,741) |
Provision for income tax | ||||
NET LOSS | $ (13,966) | $ (316,689) | $ (363,204) | $ (1,191,741) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ (0.03) | $ (0.03) | $ (0.13) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 17,744,299 | 9,424,502 | 14,207,357 | 9,293,893 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (EQUITY) (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 | |
Shares, Outstanding, Beginning Balance at Apr. 30, 2021 | 51 | 8,146,502 | ||||
Common stock issued for services | $ 800 | 200,875 | 201,675 | |||
Common Stock Issued for Financing Fees in Shares | 800,000 | |||||
Stock compensation | $ 350 | (204,500) | 204,150 | |||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 350,000 | |||||
Warrants issued with debt | 158,325 | 158,325 | ||||
Warrants | 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 | |
Shares, Outstanding, Ending Balance at Jul. 31, 2021 | 51 | 9,296,502 | ||||
Beginning balance, value at Apr. 30, 2021 | $ 8,147 | 312,500 | 1,709,258 | (1,264,891) | 765,014 | |
Shares, Outstanding, Beginning Balance at Apr. 30, 2021 | 51 | 8,146,502 | ||||
Warrants issued with debt | 180,938 | |||||
Net loss | (1,191,741) | |||||
Shares issued for services | 11,700 | |||||
Ending balance, value at Jan. 31, 2022 | $ 9,489 | 108,000 | 2,335,529 | (2,456,632) | (3,614) | |
Shares, Outstanding, Ending Balance at Jan. 31, 2022 | 51 | 9,488,502 | ||||
Beginning balance, value at Jul. 31, 2021 | $ 9,297 | 108,000 | 2,284,308 | (1,755,000) | 646,605 | |
Shares, Outstanding, Beginning Balance at Jul. 31, 2021 | 51 | 9,296,502 | ||||
Net loss | (384,943) | (384,943) | ||||
Ending balance, value at Oct. 31, 2021 | $ 9,297 | 108,000 | 2,284,308 | (2,139,943) | 261,662 | |
Shares, Outstanding, Ending Balance at Oct. 31, 2021 | 51 | 9,296,502 | ||||
Warrants issued with debt | 22,613 | 22,613 | ||||
Net loss | (316,689) | (316,689) | ||||
Shares issued for services | $ 192 | 28,608 | 28,800 | |||
Stock Issued During Period, Shares, Issued for Services | 192,000 | |||||
Ending balance, value at Jan. 31, 2022 | $ 9,489 | 108,000 | 2,335,529 | (2,456,632) | (3,614) | |
Shares, Outstanding, Ending Balance at Jan. 31, 2022 | 51 | 9,488,502 | ||||
Beginning balance, value at Apr. 30, 2022 | $ 9,489 | 118,500 | 2,335,529 | (3,334,458) | (870,940) | |
Shares, Outstanding, Beginning Balance at Apr. 30, 2022 | 51 | 9,488,502 | ||||
Net loss | (148,359) | (148,359) | ||||
Sale of common stock | $ 1,667 | 48,333 | 50,000 | |||
Stock Issued During Period, Shares, New Issues | 1,666,667 | |||||
Ending balance, value at Jul. 31, 2022 | $ 11,156 | 118,500 | 2,383,862 | (3,482,817) | (969,299) | |
Shares, Outstanding, Ending Balance at Jul. 31, 2022 | 51 | 11,155,169 | ||||
Beginning balance, value at Apr. 30, 2022 | $ 9,489 | 118,500 | 2,335,529 | (3,334,458) | (870,940) | |
Shares, Outstanding, Beginning Balance at Apr. 30, 2022 | 51 | 9,488,502 | ||||
Warrants issued with debt | ||||||
Net loss | (363,204) | |||||
Shares issued for services | ||||||
Ending balance, value at Jan. 31, 2023 | $ 18,019 | 118,500 | 2,579,062 | (3,697,662) | (982,081) | |
Shares, Outstanding, Ending Balance at Jan. 31, 2023 | 51 | 18,019,025 | ||||
Beginning balance, value at Jul. 31, 2022 | $ 11,156 | 118,500 | 2,383,862 | (3,482,817) | (969,299) | |
Shares, Outstanding, Beginning Balance at Jul. 31, 2022 | 51 | 11,155,169 | ||||
Warrants | 20,710 | 20,710 | ||||
Net loss | (200,879) | (200,879) | ||||
Shares issued for services | $ 100 | 2,900 | 3,000 | |||
Stock Issued During Period, Shares, Issued for Services | 100,000 | |||||
Sale of common stock | $ 4,500 | 109,790 | 114,290 | |||
Stock Issued During Period, Shares, New Issues | 4,500,000 | |||||
Conversion of debt to equity | $ 833 | 24,167 | 25,000 | |||
Debt Conversion, Converted Instrument, Shares Issued | 833,333 | |||||
Ending balance, value at Oct. 31, 2022 | $ 16,589 | 118,500 | 2,541,429 | (3,683,696) | (1,007,178) | |
Shares, Outstanding, Ending Balance at Oct. 31, 2022 | 51 | 16,588,502 | ||||
Warrants | 2,612 | 2,612 | ||||
Net loss | (13,966) | (13,966) | ||||
Sale of common stock | $ 833 | 21,555 | 22,388 | |||
Stock Issued During Period, Shares, New Issues | 833,333 | |||||
Conversion of debt to equity | $ 597 | 13,466 | 14,063 | |||
Debt Conversion, Converted Instrument, Shares Issued | 597,190 | |||||
Ending balance, value at Jan. 31, 2023 | $ 18,019 | $ 118,500 | $ 2,579,062 | $ (3,697,662) | $ (982,081) | |
Shares, Outstanding, Ending Balance at Jan. 31, 2023 | 51 | 18,019,025 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (363,204) | $ (1,191,741) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 5,843 | 10,897 |
Warrants issued for services | 11,700 | |
Amortization of discount | 21,114 | 525,448 |
Stock compensation | 3,000 | |
Changes in operating assets and liabilities: | ||
Security deposits | 10,000 | (10,000) |
Account payable | (545) | |
Accrued expenses | 59,789 | 63,990 |
CASH FLOWS USED IN OPERATING ACTIVITIES | (264,003) | (589,706) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from sale of common stock | 210,000 | |
Proceeds from sale of convertible notes | 413,000 | |
Proceeds from related party convertible loan | 7,000 | |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 217,000 | 413,000 |
NET INCREASE (DECREASE) IN CASH | (47,003) | (176,706) |
Cash, beginning of period | 47,003 | 197,761 |
Cash, end of period | 21,055 | |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for interest expense | ||
Cash paid for income taxes | ||
NON-CASH OPERATING AND FINANCING ACTIVITIES: | ||
Conversion of debt to equity | 39,063 | |
Warrants issued with debt | $ 180,938 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
Jan. 31, 2023 | |
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 Companys 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 | 9 Months Ended |
Jan. 31, 2023 | |
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 Companys ability to continue as a going concern. The Company had no cash at January 31, 2023. Based on its historical rate of expenditures, the Company expects to expend its available cash in less than three months from March 21, 2023. Managements 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 January 31, 2023, the Company had net working capital deficit of $998,881. The Company is in immediate need of further working capital and is seeking options, with respect to financing, in the form of debt, equity or a combination thereof. Failure to raise adequate capital and generate adequate revenues could result in the Company having to curtail or cease operations. The Companys 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 Companys 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. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Management acknowledges its responsibility for the preparation of the accompanying interim consolidated financial statements which reflect all adjustments, consisting of normal recurring adjustments, considered necessary in its opinion for a fair statement of its financial position and the results of its operations for the interim period presented. These consolidated unaudited financial statements should be read in conjunction with the summary of significant accounting policies and notes to the consolidated financial statements included in the Companys Form 10-K annual report for the year ended April 30, 2022. The results of the nine months ended January 31, 2023 are not necessarily indicative of the results to be expected for the full fiscal year ending April 30, 2023. Principles of Consolidation The consolidated financial statements of the Company include the accounts of TSR Holdings, Inc. and TSR Media, 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 for the nine month periods ended January 31, 2023 and 2022 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 The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. There were no cash equivalents at January 31, 2023 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 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 Financial Accounting Standard 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 periods ended January 31, 2023 and 2022 were excluded from the dilutive loss per share calculation as they would be antidilutive due to the net loss. As of January 31, 2023 and 2022, there were approximately 10,349,827 8,074,096 Fair Value of Financial Instruments The carrying amounts of financial assets and liabilities, such as cash, accounts payable, short term loans, and the Companys 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 Companys only assets are a diving vessel and a magnetometer which were purchased in fiscal year 2020 and are being depreciated over three to twelve year useful lives. 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 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 Companys present or future consolidated financial statements. |
FIXED ASSETS
FIXED ASSETS | 9 Months Ended |
Jan. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
FIXED ASSETS | Note 4 – FIXED ASSETS Fixed assets at January 31, 2023 and April 30, 2022 are summarized below: Schedule of Fixed Assets Fixed Assets January 31, 2023 April 30, 2022 Diving Vessel $ 36,390 $ 36,390 Magnetometer 24,000 24,000 Accumulated Depreciation (44,590 ) (38,746 ) Fixed Assets, Net $ 15,800 $ 21,644 For the nine month periods ended January 31, 2023 and 2022, depreciation expenses were $ 5,843 10,897 For the three month periods ended January 31, 2023 and 2022, depreciation expenses were $ 600 3,632 |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Jan. 31, 2023 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | Note 5 – 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 $ 60,890 53,890 Short Term Loans As of January 31, 2023 and April 30, 2022, the Company had two loans totaling $ 2,700 16,763 14,063 597,190 Convertible Notes Payable The following table reflects the convertible notes payable as of January 31, 2023 and April 30, 2022: Schedule of Notes Payable Issue Date Maturity Date January 31, 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 4/23/2023 - 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 $ 770,666 $ 795,666 Less unamortized discounts - 21,114 Balance convertible notes payable $ 770,666 $ 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 nine months ended January 31, 2023 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 on these notes of $0 and $206,818 for the three months ended January 31, 2023 and 2022, respectively. The Company recorded interest expense related to the amortization of debt discounts on these notes of $ 21,114 525,448 New Convertible Notes Payable Issued During the Nine Month Periods Ended January 31, 2023 and 2022 2023 The Company did not enter into any new convertible note payable agreements during the nine month period ended January 31, 2023. 2022 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 holders option, into the Companys common shares at a fixed conversation rate of $0.10. The conversion of the note into shares of the Companys 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 Companys 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 holders option, into the Companys common shares at a fixed conversation rate of $0.10. The conversion of the note into shares of the Companys 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 Companys 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 holders option, into the Companys common shares at a fixed conversation rate of $0.10. The conversion of the note into shares of the Companys 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 Companys shares. On December 6, 2021, the Company entered into a convertible note payable with a corporation. The note payable, with a face value of $70,666, including a $17,666 original issue discount, bears interest at 0.0% per annum and is due on March 6, 2023. The default interest rate is 15% if the note is not repaid within ninety days of the issue date, retroactive to the date of issuance. There was also $3,000 for legal fees included in the note balance. After the occurrence of any event of default, the convertible note payable is convertible, at the holders option, into the Companys common shares at a fixed conversation rate of $0.10. The lender also received 282,667 warrants to purchase the Companys common stock at a purchase price of $0.25 for a period of five years from the date of the note. During the twelve months immediately following the Closing, with respect to each and any securities offering conducted by the Company, the Company agrees to, and hereby does, irrevocably grant to the Buyer the option to purchase up to $1,000,000 worth of the securities offered in such offering at the applicable offering prices thereunder. The conversion of the note into shares of the Companys 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 Companys shares. On April 20, 2022, the Company entered into a convertible note payable with an individual who is a member of the Companys 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, 2023. The convertible note payable is convertible upon default, at the note holders option, into the Companys common shares at a fixed conversation rate of $0.05. The conversion of the note into shares of the Companys 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 Companys shares. This convertible promissory note is currently in default due to non payment of principal and interest. |
STOCKHOLDERS_ DEFICIT
STOCKHOLDERS’ DEFICIT | 9 Months Ended |
Jan. 31, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS’ DEFICIT | Note 6 – STOCKHOLDERS DEFICIT Series A Preferred Stock On May 1, 2020, the Companys Board authorized the creation of 100 At January 31, 2023 and April 30, 2022 the Company had 51 Warrants At April 30, 2022 there were 1,255,667 0.25 4.7 years 0.11 887,500 0.06 2,143,167 0.17 2.25 years 0.11 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Jan. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 7 – COMMITMENTS AND CONTINGENCIES Operations Managers Agreement In October of 2020, TSR entered into an agreement with an individual consultant to be the Companys 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, 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 | 9 Months Ended |
Jan. 31, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | Note 8 – RELATED PARTY TRANSACTIONS 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 $ 60,890 53,890 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Jan. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | Note 9 – SUBSEQUENT EVENTS The Company has evaluated all subsequent events through March 21, 2023, the date the financial statements were available to be issued. Subsequent to January 31, 2023: On March 8, 2023, the Company purchased a vessel and a boat for its treasure recovery operations. The treasure recovery vessel, the M/V Bottomline, is a 36 foot Chris Craft Commander outfitted with two Caterpillar 370 HP engine and retrofitted with two blowers used in the treasure recovery process, The boat is a 17 foot Boston Whaler, to be utilized as an anchor and utility boat. The total purchase price for both the vessel and the smaller boat was $ 148,225 Subsequent to January 31, 2023, the Company issued or has agreed to issue shares of its common stock as follows: (i) 7,336,333 shares of common stock for proceeds of $220,100 under its Reg A filing; and (ii) 2,950,000 shares of common stock to settle the principal and accrued interest of$88,100 of two convertible notes. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Management acknowledges its responsibility for the preparation of the accompanying interim consolidated financial statements which reflect all adjustments, consisting of normal recurring adjustments, considered necessary in its opinion for a fair statement of its financial position and the results of its operations for the interim period presented. These consolidated unaudited financial statements should be read in conjunction with the summary of significant accounting policies and notes to the consolidated financial statements included in the Companys Form 10-K annual report for the year ended April 30, 2022. The results of the nine months ended January 31, 2023 are not necessarily indicative of the results to be expected for the full fiscal year ending April 30, 2023. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements of the Company include the accounts of TSR Holdings, Inc. and TSR Media, 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 for the nine month periods ended January 31, 2023 and 2022 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 The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. There were no cash equivalents at January 31, 2023 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 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 Financial Accounting Standard 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 periods ended January 31, 2023 and 2022 were excluded from the dilutive loss per share calculation as they would be antidilutive due to the net loss. As of January 31, 2023 and 2022, there were approximately 10,349,827 8,074,096 |
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 Companys 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 Companys only assets are a diving vessel and a magnetometer which were purchased in fiscal year 2020 and are being depreciated over three to twelve year useful lives. |
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 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 Companys present or future consolidated financial statements. |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 9 Months Ended |
Jan. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Fixed Assets | Fixed assets at January 31, 2023 and April 30, 2022 are summarized below: Schedule of Fixed Assets |
FIXED ASSETS | Fixed Assets January 31, 2023 April 30, 2022 Diving Vessel $ 36,390 $ 36,390 Magnetometer 24,000 24,000 Accumulated Depreciation (44,590 ) (38,746 ) Fixed Assets, Net $ 15,800 $ 21,644 |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 9 Months Ended |
Jan. 31, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | The following table reflects the convertible notes payable as of January 31, 2023 and April 30, 2022: Schedule of Notes Payable |
NOTES PAYABLE | Issue Date Maturity Date January 31, 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 4/23/2023 - 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 $ 770,666 $ 795,666 Less unamortized discounts - 21,114 Balance convertible notes payable $ 770,666 $ 774,552 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 9 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Accounting Policies [Abstract] | ||
Cash, FDIC Insured Amount | $ 250,000 | |
Cash, Uninsured Amount | $ 0 | |
Weighted Average Number of Shares Outstanding, Diluted, Adjustment | 10,349,827 | 8,074,096 |
FIXED ASSETS (Details)
FIXED ASSETS (Details) - USD ($) | Jan. 31, 2023 | Apr. 30, 2022 |
Property, Plant and Equipment [Line Items] | ||
Accumulated Depreciation | $ (44,590) | $ (38,746) |
Fixed Assets, Net | 15,800 | 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 | 9 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2023 | Jan. 31, 2022 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation | $ 600 | $ 3,632 | $ 5,843 | $ 10,897 |
NOTES PAYABLE (Details)
NOTES PAYABLE (Details) - USD ($) | 2 Months Ended | 9 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2023 | Apr. 30, 2022 | |
Short-Term Debt [Line Items] | |||
Debt Instrument, Face Amount | $ 770,666 | $ 770,666 | |
Debt Instrument, Face Amount | 795,666 | ||
Debt Instrument, Face Amount | 770,666 | 770,666 | $ 795,666 |
Debt Instrument, Unamortized Discount, Current | 21,114 | ||
Convertible Notes Payable, Current | $ 770,666 | 770,666 | 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 | 10% | 10% | |
Debt Instrument, Convertible, Conversion Price | $ 0.10 | $ 0.10 | |
Debt Instrument, Face Amount | $ 250,000 | $ 250,000 | |
Convertible Notes Payable 04/26/2021 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Apr. 26, 2021 | ||
Debt Instrument, Maturity Date | Apr. 23, 2023 | ||
Debt Instrument, Face Amount | |||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt, Weighted Average Interest Rate | 10% | 10% | |
Debt Instrument, Convertible, Conversion Price | $ 0.10 | $ 0.10 | |
Debt Instrument, Face Amount | 25,000 | ||
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 | 10% | 10% | |
Debt Instrument, Convertible, Conversion Price | $ 0.10 | $ 0.10 | |
Debt Instrument, Face Amount | $ 150,000 | $ 150,000 | 150,000 |
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 | 10% | 10% | |
Debt Instrument, Convertible, Conversion Price | $ 0.10 | $ 0.10 | |
Debt Instrument, Face Amount | $ 100,000 | $ 100,000 | 100,000 |
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 | 10% | 10% | |
Debt Instrument, Convertible, Conversion Price | $ 0.10 | $ 0.10 | |
Debt Instrument, Face Amount | $ 150,000 | $ 150,000 | 150,000 |
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 | 10% | 10% | |
Debt Instrument, Convertible, Conversion Price | $ 0.10 | $ 0.10 | |
Debt Instrument, Face Amount | $ 70,666 | $ 70,666 | 70,666 |
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 | 10% | 10% | |
Debt Instrument, Convertible, Conversion Price | $ 0.05 | $ 0.05 | |
Debt Instrument, Face Amount | $ 50,000 | $ 50,000 | $ 50,000 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Jan. 31, 2023 | Oct. 31, 2022 | Jan. 31, 2023 | Jan. 31, 2022 | Apr. 30, 2022 | |
Extinguishment of Debt [Line Items] | |||||
Due to Related Parties, Current | $ 60,890 | $ 60,890 | $ 53,890 | ||
Debt Conversion, Converted Instrument, Amount | 14,063 | $ 25,000 | |||
Amortization of Debt Discount (Premium) | 21,114 | $ 525,448 | |||
Common Stock [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Debt Conversion, Converted Instrument, Amount | $ 597 | $ 833 | |||
Debt Conversion, Converted Instrument, Shares Issued | 597,190 | 833,333 | |||
Short-Term Debt [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Loans Payable | $ 2,700 | 2,700 | 16,763 | ||
Officer [Member] | |||||
Extinguishment of Debt [Line Items] | |||||
Due to Related Parties, Current | $ 60,890 | $ 60,890 | $ 53,890 |
STOCKHOLDERS_ DEFICIT (Details
STOCKHOLDERS’ DEFICIT (Details Narrative) - $ / shares | 9 Months Ended | 12 Months Ended | |
Jan. 31, 2023 | Apr. 30, 2022 | May 02, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Preferred Stock, Shares Authorized | 100 | 100 | 100 |
Preferred Stock, Shares Outstanding | 51 | 51 | |
Warrant [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 2,143,167 | 1,255,667 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 0.17 | $ 0.25 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 2 years 3 months | 4 years 8 months 12 days | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instrument Other than Option, Nonvested, Intrinsic Value | $ 0.11 | $ 0.11 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 887,500 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.06 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Jan. 31, 2023 | Apr. 30, 2022 |
Related Party Transactions [Abstract] | ||
Due to Related Parties, Current | $ 60,890 | $ 53,890 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) | Mar. 08, 2023 USD ($) |
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Payments to Acquire Productive Assets | $ 148,225 |