Treasure & Shipwreck Recovery (BLIS) 10-Q 19 Dec 19 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2019	Dec. 12, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2019
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 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 Common Stock, Shares Outstanding		5,552,504
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Oct. 31, 2019	Apr. 30, 2019
Current Assets
Cash	$ 4,945
Total Current Assets	4,945
Fixed Assets
Equipment and furniture, net	57,968
Total Fixed Assets	57,968
Total Assets	62,913	0
Current Liabilities
Accounts Payable		1,899
Customer Deposits	8,700	8,700
Short Term Loans	16,763	16,763
Related Party Loan	56,390	17,790
Total Current Liabilities	81,853	45,152
Total Liabilities	81,853	45,152
Commitments and Contingencies
Stockholder's Equity
Common stock, par value $0.001; 75,000,000 shares authorized, 5,491,002 and 5,035,000 shares issued and outstanding.	5,491	5,035
Additional paid in capital	186,709	38,665
Accumulated deficit	(211,140)	(88,852)
Total Stockholder's Equity	(18,940)	(45,152)
Total Liabilities and Stockholder's Equity	$ 62,913	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Oct. 31, 2019	Apr. 30, 2019
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares Issued	5,491,002	5,035,000
Common Stock, Shares Outstanding	5,491,002	5,035,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Income Statement [Abstract]
REVENUES				$ 14,150
Cost of Revenues
Gross Profit				14,150
OPERATING EXPENSES
Boat Expenses	51,626		51,626
Labor	31,248		31,250
Professional Fees	19,152	947	21,651	3,644
Accounting and Audit Fees	13,300	(3,500)	13,300	5,023
General and Administrative Expenses	2,040	1,959	2,039	3,556
Depreciation	2,422	1,189	2,422	2,377
TOTAL OPERATING EXPENSES	119,788	595	122,288	14,600
NET LOSS FROM OPERATIONS	(119,788)	(595)	(122,288)	(450)
PROVISION FOR INCOME TAXES
NET LOSS	$ (119,788)	$ (595)	$ (122,288)	$ (450)
NET LOSS PER SHARE: BASIC AND DILUTED	$ (0.02)	$ 0	$ (0.02)	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	5,471,834	5,035,000	5,253,417	5,035,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKERS' DEFICIT (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance at Apr. 30, 2018	$ 5,035	$ 38,665	$ (40,270)	$ 3,430
Beginning Balance, Shares at Apr. 30, 2018	5,035,000
Net (Loss) for the period			145	145
Ending Balance at Jul. 31, 2018	$ 5,035	38,665	(40,125)	3,575
Ending Balance, Shares at Jul. 31, 2018	5,035,000
Beginning Balance at Apr. 30, 2018	$ 5,035	38,665	(40,270)	3,430
Beginning Balance, Shares at Apr. 30, 2018	5,035,000
Net (Loss) for the period				(450)
Ending Balance at Oct. 31, 2018	$ 5,035	38,665	(40,720)	2,980
Ending Balance, Shares at Oct. 31, 2018	5,035,000
Beginning Balance at Jul. 31, 2018	$ 5,035	38,665	(40,125)	3,575
Beginning Balance, Shares at Jul. 31, 2018	5,035,000
Net (Loss) for the period			(595)	(595)
Ending Balance at Oct. 31, 2018	$ 5,035	38,665	(40,720)	2,980
Ending Balance, Shares at Oct. 31, 2018	5,035,000
Beginning Balance at Apr. 30, 2019	$ 5,035	38,665	(88,852)	(45,152)
Beginning Balance, Shares at Apr. 30, 2019	5,035,000
Net (Loss) for the period			(2,500)	(2,500)
Ending Balance at Jul. 31, 2019	$ 5,491	186,709	(208,640)	(18,940)
Ending Balance, Shares at Jul. 31, 2019	5,491,002
Beginning Balance at Apr. 30, 2019	$ 5,035	38,665	(88,852)	(45,152)
Beginning Balance, Shares at Apr. 30, 2019	5,035,000
Net (Loss) for the period				(122,288)
Ending Balance at Oct. 31, 2019	$ 5,491	186,709	(211,140)	(18,940)
Ending Balance, Shares at Oct. 31, 2019	5,491,002
Beginning Balance at Jul. 31, 2019	$ 5,491	186,709	(208,640)	(18,940)
Beginning Balance, Shares at Jul. 31, 2019	5,491,002
Sale of Stock	$ 456	148,044		148,500
Sale of Stock, Shares	456,002
Net (Loss) for the period			(119,788)	(119,788)
Ending Balance at Oct. 31, 2019	$ 5,491	$ 186,709	$ (211,140)	$ (18,940)
Ending Balance, Shares at Oct. 31, 2019	5,491,002

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (122,288)	$ (450)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	2,422	2,377
Changes in operating assets and liabilities:
Increase in Prepaid Expenses		950
Increase in Customer Deposits	(1,899)	(5,810)
Increase Decrease in Related Party Loans		(7,000)
CASH FLOWS USED IN OPERATING ACTIVITIES	(121,765)	(9,933)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Equipment	(60,390)
CASH FLOWS FROM INVESTING ACTIVITIES	(60,390)
CASH FLOWS FROM FINANCING ACTIVITIES
Sale of Stock	148,500
Increase in Related Party Loans	38,600	3,500
CASH FLOWS FROM FINANCING ACTIVITIES	187,100	3,500
NET DECREASE IN CASH	4,945	(6,433)
Cash, beginning of period		7,257
Cash, end of period	4,945	824
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid
Income taxes paid

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	6 Months Ended
	Oct. 31, 2019
Accounting Policies [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Treasure& Shipwreck Recovery, Inc. was incorporated in the State of Nevada on October 24, 2016 as Beliss Corp. The Company changed its name to Treasure & Shipwreck Recovery Corp. on June 26, 2019. The Company’s primary business strategy is to focus on opportunities in the sunken treasure industry. 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”). The Company has shifted its focus to the sunken treasure industry, however it is maintaining its Internet Marketing business in order to fulfill any obligations to previous customers who made deposits or in the event that any substantial new opportunities should arise, which Management views as unlikely. Moreover, the Company does not anticipate generating any significant revenues from the Internet Marketing business for the foreseeable future. All of these movements were made with explicit authorities for change in the business plan with all involved as consultants and former officers and directors. Our general business strategy is to be actively engaged in the sunken treasure industry, researching, surveying, finding and recovering artifacts, treasure or other items of value from valuable historical shipwrecks from the 15th century to the present day. We have taken on certain persons, in particular Dr. E. Lee Spence, who are experts in the necessary fields of treasure finds. We also intend to secure the rights for treasure salvage through courts and other means. Furthermore, we will contract with outside service providers to conduct salvage operations. Any recovered finds by the Company are going to be split with Dr. E. Lee Spence who is a foremost treasure expert and has taken on the role of Chief Operating Officer as well as Chairman of the Board.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Oct. 31, 2019
Going Concern
GOING CONCERN	NOTE 2 – GOING CONCERN These condensed 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 one month from December 19, 2019. 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 October 31, 2019, the Company had a working capital deficit of $76,908. 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 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 condensed 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 condensed 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.

SIGNIFCANT ACCOUNTING POLICIES

SIGNIFCANT ACCOUNTING POLICIES	6 Months Ended
	Oct. 31, 2019
Accounting Policies [Abstract]
SIGNIFCANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Management acknowledges its responsibility for the preparation of the accompanying interim 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 financial statements should be read in conjunction with the summary of significant accounting policies and notes to financial statements included in the Company’s Form 10-K annual report for the year ended April 30, 2019. The balance sheet as of October 31, 2019 has been derived from the audited financial statements. The results of the three and six months ended October 31, 2019 are not necessarily indicative of the results to be expected for the full fiscal year ending April 30, 2020. Principles of Consolidation The consolidated financial statements of the Company include the accounts of the TSR Holdings, Inc. which is a wholly owned subsidiary. Intercompany accounts and transactions have been eliminated in consolidation. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $4,945 of cash as of October 31, 2019 and $0 as of April 30, 2019. 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. The Company had $8,700 in customer deposits as of October 31, 2019 and April 30, 2019. Property and Equipment Property and equipment are recorded at cost. 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 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 which were both purchased in 2019 and are being depreciated over a ten and three year useful lives, respectively. Fair Value of Financial Instruments As topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Revenue Recognition Effective May 1, 2018, the Company adopted the guidance of Accounting Standards Codification (ASC) 606, Revenue from Contracts. The implementation of ASC 606 did not have a material impact on the Company’s financial statements as the Company, previously recognized revenue when the performance obligation for customers had been satisfied. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. The Company’s previous revenue was derived from providing high impact internet marketing to Internet based businesses and small businesses seeking to create websites and provide better search engine optimization (“SEO”) software and techniques to small Internet based businesses and people seeking to create websites. The new revenue recognition standard won’t have impact on the company since the company has not generated any revenues during the three month period October 31, 2019. For our service contracts, our services provided are considered to be one single performance obligation. Revenue and expenses are recognized as services are rendered. The average period for satisfying the performance obligation is three months. We have analyzed all of our contracts and can confirm that all the requirements are considered in these contracts: 1) The contracts with customers were identified; 2) The performance obligation was the creation of a website and the provision of SEO-optimization and other services for this site; 3) The transaction price was determined in paragraph 1.3; 4) The Company has only one performance obligation, so the whole transaction price is related to this performance obligation; 5) The revenue was recognized when the performance obligation had been satisfied. 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 computes loss per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of October 31, 2019 and 2018 there were no potentially dilutive debt or equity instruments issued or outstanding. Recent Accounting Pronouncements We have reviewed the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. In February 2016, the FASB issued ASU 2016-02, Leases

FIXED ASSETS

FIXED ASSETS	6 Months Ended
	Oct. 31, 2019
Property, Plant and Equipment [Abstract]
FIXED ASSETS	NOTE 4 – FIXED ASSETS Fixed assets at October 31, 2019 and April 30, 2019 are summarized below: October 31, 2019 (Unaudited) April 30, 2019 Fixed Assets $ 60,390 $ 17,720 Accumulated Depreciation (2,422 ) (17,720 ) Fixed Assets, Net $ 57,968 $ — Depreciation expense was $2,422 and $1,189 for the three months ended October 31, 2019 and 2018, respectively, and $2,422 and $2,377 for the six months ended October 31, 2019 and 2018, respectively. Depreciation expense for the periods ended in 2019 are related to the diving vessel and the magnetometer. Depreciation expense for the periods ended in 2018 was for furniture and office equipment that the Company wrote down to a balance of $0 at April 30, 2019.

LOANS

LOANS	6 Months Ended
	Oct. 31, 2019
Related Party Transactions [Abstract]
LOANS	NOTE 5 – LOANS Loan from Officer As of October 31, 2019 Craig Huffman, an officer and director, provided loans to the Company of $56,390 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 Mr. Huffman was $56,390 as of October 31, 2019, and $17,790 as of April 30, 2019. Short Term Loans As of October 31, 2019, the Company had loans totaling $16,763 with two non-related parties, a loan in the amount of $14,063 and a loan in the amount of $2,700. These loans are unsecured, non-interest bearing and due on demand.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Oct. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6 – COMMITMENTS AND CONTINGENCIES Material Agreement On June 22, 2019 the Company entered into a consulting agreement with Dr. E. Lee Spence to provide supervisory services as the Company’s Chief Operation Officer (“COO”). As COO Dr. Spence agreed to perform duties and responsibilities on a part time basis related to overseeing the operations of the Company including selection and supervision of archaeologists, selection and supervision of personnel and experts to oversee the conservation of any recovered objects, assistance with selection of personnel for the scanning and search and recovery operations including boat captains and crew, analysis and review of potential shipwreck sites, other supervisory and advisory services over the operations, interaction with state and governmental authorities as necessary for site approval and permitting, budgeting and purchasing of equipment, vessels, crew, etc. Per the agreement the Company intended for Dr. Spence to be the lead expert of all of its projects. Dr. Spence is to provide the services at his discretion on a part time basis. The Agreement further stipulates that Dr. Spence will commit research, recovery and other operations for an admiralty claim under his control which exists off the coast of South Carolina. Dr. Spence my also provide the Company with information pertaining to other shipwreck sites under certain conditions. The term of the Agreement is for five years after which it may continue on an at will basis in perpetuity. The Agreement is not exclusive for either party. The Company agreed to provide Dr. Spence with information including funding, timelines, etc. regarding its potential shipwreck sites and operations. The Company agreed to pay Dr. Spence an annual salary of $125,000 annualized for the first six months of the agreement and then a salary of $250,000 annualized thereafter. If the Company is not able to pay the salary then it will be accrued and paid on a first due basis of accounting and shall accrue interest at eighteen percent per annum. The compensation may be converted into shares of the Company common stock at a fifty percent discount to the then existing market price. The Board of Directors may award additional bonuses to Dr. Spence at its discretion based on the success of any research, location and/or recovery of artifacts or wrecks. The Company also agrees to pay all necessary expenses for travel, lodging , meals and other necessary costs. Legal Proceedings During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with FASB ASC 450-20-50, Contingencies. The Company evaluates its exposure to the matter, possible legal or settlement strategies and the likelihood of an unfavorable outcome. If the Company determines that an unfavorable outcome is probable and can be reasonably estimated, it establishes the necessary accruals. As of October 31, 2019, the Company is not aware of any contingent liabilities that should be reflected in the consolidated financial statements.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Oct. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS Subsequent to October 31, 2019 the Company sold 68,334 shares of restricted common stock under subscription agreements for approximately $62,500 in proceeds, used for general corporate purposes, working capital and repayment of debt. In November 2019, TSR and Dr. Spence agreed that his services as Chief Operating Officer and as Chairman would be concluded and his resignation from such positions was accepted as of the date of the filing of this Form 10-Q. TSR and Dr. Spence are in discussions regarding several issue including whether or not he will continue to provide consulting services to the Company and the terms and conditions of any such future services. TSR determined that it needed a more aggressive business plan for operations which could be concluded through numerous other potential short term and long term partners.

SIGNIFCANT ACCOUNTING POLICIES

SIGNIFCANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Oct. 31, 2019
Accounting Policies [Abstract]
Basis of presentation	Basis of Presentation Management acknowledges its responsibility for the preparation of the accompanying interim 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 financial statements should be read in conjunction with the summary of significant accounting policies and notes to financial statements included in the Company’s Form 10-K annual report for the year ended April 30, 2019. The balance sheet as of October 31, 2019 has been derived from the audited financial statements. The results of the three and six months ended October 31, 2019 are not necessarily indicative of the results to be expected for the full fiscal year ending April 30, 2020.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of the Company include the accounts of the TSR Holdings, Inc. which is a wholly owned subsidiary. Intercompany accounts and transactions have been eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $4,945 of cash as of October 31, 2019 and $0 as of April 30, 2019.
Customer Deposit	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. The Company had $8,700 in customer deposits as of October 31, 2019 and April 30, 2019.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. 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 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 which were both purchased in 2019 and are being depreciated over a ten and three year useful lives, respectively.
Fair Value of Financial Instruments	Fair Value of Financial Instruments As topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Revenue Recognition	Revenue Recognition Effective May 1, 2018, the Company adopted the guidance of Accounting Standards Codification (ASC) 606, Revenue from Contracts. The implementation of ASC 606 did not have a material impact on the Company’s financial statements as the Company, previously recognized revenue when the performance obligation for customers had been satisfied. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. The Company’s previous revenue was derived from providing high impact internet marketing to Internet based businesses and small businesses seeking to create websites and provide better search engine optimization (“SEO”) software and techniques to small Internet based businesses and people seeking to create websites. The new revenue recognition standard won’t have impact on the company since the company has not generated any revenues during the three month period October 31, 2019. For our service contracts, our services provided are considered to be one single performance obligation. Revenue and expenses are recognized as services are rendered. The average period for satisfying the performance obligation is three months. We have analyzed all of our contracts and can confirm that all the requirements are considered in these contracts: 1) The contracts with customers were identified; 2) The performance obligation was the creation of a website and the provision of SEO-optimization and other services for this site; 3) The transaction price was determined in paragraph 1.3; 4) The Company has only one performance obligation, so the whole transaction price is related to this performance obligation; 5) The revenue was recognized when the performance obligation had been satisfied. 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 computes loss per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of October 31, 2019 and 2018 there were no potentially dilutive debt or equity instruments issued or outstanding.
Recent Accounting Pronouncements	Recent Accounting Pronouncements We have reviewed the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company. In February 2016, the FASB issued ASU 2016-02, Leases

FIXED ASSETS (Tables)

FIXED ASSETS (Tables)	6 Months Ended
	Oct. 31, 2019
Disclosure Fixed Assets Tables Abstract
Schedule of Fixed Assets	Fixed assets at October 31, 2019 and April 30, 2019 are summarized below: October 31, 2019 (Unaudited) April 30, 2019 Fixed Assets $ 60,390 $ 17,720 Accumulated Depreciation (2,422 ) (17,720 ) Fixed Assets, Net $ 57,968 $ —

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative)	Oct. 31, 2019USD ($)
Disclosure Going Concern Details Narrative Abstract
Working Capital Deficit	$ 76,908

SIGNIFCANT ACCOUNTING POLICIE_2

SIGNIFCANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	6 Months Ended
	Oct. 31, 2019	Apr. 30, 2019	Oct. 31, 2018	Apr. 30, 2018
Cash	$ 4,945		$ 824	$ 7,257
Customer Deposit	$ 8,700	$ 8,700
Diving Vessel [Member]
Useful Life of Assets	10 years
Magnetometer [Member]
Useful Life of Assets	3 years

FIXED ASSETS (Details)

FIXED ASSETS (Details) - USD ($)	Oct. 31, 2019	Apr. 30, 2019
Disclosure Fixed Assets Details Abstract
Fixed Assets	$ 60,390	$ 17,720
Accumulated Depreciation	(2,422)	(17,720)
Total Fixed Assets	$ 57,968

FIXED ASSETS (Details Narrative

FIXED ASSETS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019	Oct. 31, 2018
Fixed Assets Disclosure Abstract
Depreciation expenses	$ 2,422	$ 1,189	$ 2,422	$ 2,377

LOANS (Details Narrative)

LOANS (Details Narrative) - USD ($)	Oct. 31, 2019	Apr. 30, 2019
Loan from Related Parties	$ 56,390	$ 17,790
Short-term Loan [Member]
Loan from Non-Related Parties	16,763
Short-term Loan - First Party [Member]
Loan from Non-Related Parties	14,063
Short-term Loan - Second Party [Member]
Loan from Non-Related Parties	2,700
Director [Member]
Loan from Related Parties	$ 56,390	$ 17,790

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Nov. 02, 2019	Oct. 31, 2019	Apr. 30, 2019
Common Stock Shares Sold		5,491,002	5,035,000
Subsequent Event [Member] | Restricted Stock [Member]
Common Stock Shares Sold	68,334
Common Stock Proceeds	$ 62,500