| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE
2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use
of Estimates The
accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”)
for interim financial information and with the instructions to Form 10K and Article 8 of Regulation S-X. Accordingly, they do not include
all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments
(all of which are of a normal recurring nature) considered necessary for a fair presentation have been included. Cash
and Cash Equivalents The
Company considers all unrestricted demand deposits, money market funds and highly liquid debt instruments with an original maturity of
less than 90 days to be cash and cash equivalents. There were no Property
and Equipment All
expenditures on the acquisition for property and equipment are recorded at cost and capitalized as incurred, provided the asset benefits
the Company for a period of more than one year. Expenditures on routine repairs and maintenance of property and equipment are charged
directly to operating expense. The property and equipment are depreciated based upon its estimated useful life after being placed in
service. The estimated useful life of computer equipment is 3 years Impairment
of Long-Lived Assets In
accordance with Accounting Standards Codification (“ASC”) 360-10, “Property, Plant, and Equipment”, the Company
periodically reviews its long- lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount
of the assets may not be fully recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future cash
flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s
estimated fair value and its book value. The Company did no Website
Development Costs The
Company accounts for website development costs in accordance with Accounting Standards Codification 350-50 “Website Development
Costs”. Accordingly, all costs incurred in the planning stage are expensed as incurred, costs incurred in the website application
and infrastructure development stage that meet specific criteria are capitalized and costs incurred in the day-to-day operation of the
website are expensed as incurred. Fair
Value of Financial Instruments ASC
topic 820, “Fair Value Measurements and Disclosures” (ASC 820) defines “fair value” as the price that would be
received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability
in an orderly transaction between market participants on the measurement date. ASC
820 also describes three levels of inputs that may be used to measure fair value: Level
1: Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities traded in active markets. Level
2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level
3: Inputs that are generally unobservable. These inputs may be used with internally developed methodologies that result in management’s
best estimate of fair value. Financial
instruments consist principally of cash, accounts payable, accrued liabilities and other current liabilities. The carrying amounts of
such financial instruments in the accompanying balance sheets approximate their fair values due to their relatively short- term nature.
The fair value of long-term debt is based on current rates at which the Company could borrow funds with similar remaining maturities.
The carrying amounts approximate fair value. It is management’s opinion that the Company is not exposed to any significant currency
or credit risks arising from these financial instruments. Revenue
Recognition In
May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This standard provides a single model for
revenue arising from contracts with customers and supersedes current revenue recognition guidance. The core principle of the guidance
is that an entity should recognize 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. We adopted the standard effective
December 1, 2018, with no cumulative adjustment needed as of this date. All of our revenue is generated from the United States of America. Revenue
is recognized when all of the following criteria are met: ●
Identification of the contract, or contracts, with a customer ●
Identification of the performance obligations in the contract ● Determination
of the transaction price ● Allocation
of the transaction price to the performance obligations in the contract ● Recognition
of revenue when, or as, we satisfy performance obligation Cost
of Revenues Cost
of revenues includes costs attributable to services sold and delivered. These costs include engineering costs incurred to maintain our
networks. Advertising
Expense Advertising
costs are charged to expense as incurred and are included in selling and promotions expense in the accompanying financial statements.
Advertising expense for the year ended November 30, 2021, and 2020 were $ 544 17,563 Share-Based
Compensation The
Company computes share based payments in accordance with Accounting Standards Codification 718-10 “Compensation” (ASC 718-10).
ASC 718-10 establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods and
services at fair value, focusing primarily on accounting for transactions in which an entity obtains employees services in share-based
payment transactions. It also addresses transactions in which an entity incurs liabilities in exchange for goods and services that are
based on the fair value of an entity’s equity instruments or that may be settled by the issuance of those equity instruments. In
March 2005, the SEC issued SAB No. 107, Share-Based Payment (“SAB 107”) which provides guidance regarding the interaction
of ASC 718-10 and certain SEC rules and regulations. The Company has applied the provisions of SAB 107 in its adoption of ASC 718-10.
The Company estimates the fair value of stock options by using the Black-Scholes option pricing model. Additionally, the Company has
early adopted ASU 2018-07 during fiscal year 2019. In June 2018, the FASB issued ASU 2018-07 Compensation—Stock Compensation (Topic
718): Improvements to Nonemployee Share-Based Payment Accounting (ASU 2018-07), which simplifies the accounting for share-based payments
to nonemployees by aligning it with the accounting for share-based payments to employees, with certain exceptions. Income
Taxes The
Company accounts for income taxes in accordance with ASC 740, Accounting for Income Taxes, as clarified by ASC 740-10, Accounting for
Uncertainty in Income Taxes. Under this method, deferred income taxes are determined based on the estimated future tax effects of differences
between the financial statement and tax basis of assets and liabilities and net operating loss and tax credit carryforwards given the
provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year
to year. In providing for deferred taxes, the Company considers tax regulations of the jurisdictions in which the Company operates, estimates
of future taxable income, and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning
strategies vary, adjustments to the carrying value of deferred tax assets and liabilities may be required. Valuation allowances are recorded
related to deferred tax assets based on the “more likely than not” criteria of ASC 740. ASC
740-10 requires that the Company recognize the financial statement benefit of a tax position only after determining that the relevant
tax authority would more likely than not sustain the position following an audit. For tax positions meeting the “more-likely-than-not”
threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood The
Company recognizes expenses for tax penalties and interest assessed by the Internal Revenue Service and other taxing authorities upon
receiving valid notice of assessments. The Company has received no such notices as of November 30, 2021. In assessing the realizability of deferred
tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will be realized.
The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which
those temporary differences will become deductible. The Company considers the scheduled reversal of deferred tax liabilities, projected
future taxable income and tax planning strategies in making this assessment. The Company has recorded a full valuation allowance against
its net deferred tax assets because it is not currently able to conclude that it is more likely than not that these assets will be realized.
The amount of deferred tax assets considered to be realizable could be increased in the near term if estimates of future taxable income
during the carryforward period are increased. As of November 30, 2021, the Company had unused
net operating loss carry forwards of $ 365,221 Earnings
Per Share Basic
earnings per share is computed by dividing net income attributable to common stockholders by the weighted average number of shares of
common stock outstanding during the period. Diluted
earnings per share is computed by dividing net income attributable to common stockholders by the weighted average number of shares of
common stock, common stock equivalents and potentially dilutive securities outstanding during each period. Diluted loss per common share
is equal to basic because the common stock equivalents are anti-dilutive. The Company’s anti-dilutive common stock equivalents
include the following: SCHEDULE OF ANTI-DILUTIVE SECURITIES OUTSTANDING
November 30, November 30,
Shares on issuance of warrants as share-based compensation 1,428,005 1,192,500
Shares on convertible promissory notes 722,443 -
Anti-dilutive securities 2,150,448 1,192,500 Concentrations,
Risks and Uncertainties The
Company’s operations and revenue are related to the real estate industry and its prospects for success are tied indirectly to interest
rates and the general housing and business climates in the United States. Financial instruments and related items, which potentially
subject the Company to concentration of credit risk consists primarily of cash. The Company places its cash with high credit quality
institutions. At times, such deposits may be in excess of the FDIC insurance limit of $ 250,000 no Recently
Issued Accounting Pronouncements The
Company has reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the
periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted
accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported
financial position or operations in the near term. The applicability of any standard is subject to the formal review of the Company’s
financial management. In
August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging
- Contracts in Entity’s Own Equity (Subtopic 815-40) - Accounting for Convertible Instruments and Contracts on an Entity’s
Own Equity. The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP.
Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded
conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative
scope exception, which will permit more equity contracts to qualify for the exceptions. The ASU also simplifies the diluted net income
per share calculation in certain areas. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim
periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the impact of the adoption of
the standard on the consolidated financial statements. In
May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock
Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses
issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This amendment
is effective for all entities, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years.
Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements. |
