Cover
Cover | 9 Months Ended |
Apr. 30, 2022shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Quarterly Report | true |
Document Transition Report | false |
Document Period End Date | Apr. 30, 2022 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2022 |
Current Fiscal Year End Date | --07-31 |
Entity File Number | 333-228847 |
Entity Registrant Name | MU GLOBAL HOLDING LIMITED |
Entity Central Index Key | 0001746119 |
Entity Tax Identification Number | 30-1089215 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | Rm. 5, 7F., No. 296, Sec. 4, |
Entity Address, Address Line Two | Xinyi Rd., |
Entity Address, Address Line Three | Da’an Dist., |
Entity Address, City or Town | Taipei City |
Entity Address, Country | TW |
Entity Address, Postal Zip Code | 106427 |
City Area Code | +886 |
Local Phone Number | 905153139 |
Title of 12(b) Security | Common Stock |
Trading Symbol | MUGH |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | No |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
Entity Shell Company | false |
Entity Bankruptcy Proceedings, Reporting Current | false |
Entity Common Stock, Shares Outstanding | 59,434,838 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 |
NON-CURRENT ASSETS | ||
Property, plant and equipment | $ 219,669 | |
Leased asset- Right of use | 12,966 | |
Total non current assets, excluding intangible assets | 232,635 | |
INTANGIBLE ASSET | ||
Trademark | 24,116 | |
NON-CURRENT ASSETS | 256,751 | |
CURRENT ASSETS | ||
Prepayments and deposits | 46,613 | 101,688 |
Amount due from related party | 16,118 | 10,425 |
Inventories | 20,745 | 38,374 |
Leased asset- Right of use | 3,149 | |
Cash and cash equivalents | 2,921 | 20,231 |
Total Current Assets | 89,546 | 170,718 |
TOTAL ASSETS | 89,546 | 427,469 |
NON-CURRENT LIABILITY | ||
Lease liabilities | 2,647 | |
Loan from related party | 44,404 | 52,620 |
Loan from director | 119,715 | 136,193 |
Loan from third party | 67,204 | 85,895 |
Total Non-Current Liability | 231,323 | 277,355 |
CURRENT LIABILITIES | ||
Other payables and accrued liabilities | 11,336 | 22,092 |
Amount due to related parties | 118,214 | 95,453 |
Deposit from franchisees | 30,878 | 33,701 |
Deposit from customers | 40,100 | 41,013 |
Loan from director | 142,938 | 138,443 |
Lease liabilities | 3,149 | 10,319 |
Total Current Liabilities | 346,615 | 341,021 |
TOTAL LIABILITIES | 577,938 | 618,376 |
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding | ||
Common Shares, par value $0.0001; 600,000,000 shares authorized, 59,434,838 shares issued and outstanding as of April 30, 2022 and July 31, 2021 | 5,943 | 5,943 |
Additional paid in capital | 1,830,300 | 1,830,300 |
Foreign currency adjustment | 13,220 | 4,698 |
Accumulated deficit | (2,337,855) | (2,031,848) |
TOTAL STOCKHOLDERS’ EQUITY | (488,392) | (190,907) |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 89,546 | $ 427,469 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Apr. 30, 2022 | Jul. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 600,000,000 | 600,000,000 |
Common stock, shares issued | 59,434,838 | 59,434,838 |
Common stock, shares outstanding | 59,434,838 | 59,434,838 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Losses (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Income Statement [Abstract] | ||||
REVENUE | $ 570 | $ 5,500 | $ 39,357 | $ 46,576 |
COST OF REVENUE | (232) | (51) | (17,628) | (9,607) |
GROSS PROFIT | 338 | 5,449 | 21,729 | 36,969 |
OTHER INCOME | 24,562 | 5,227 | 51,495 | 30,214 |
SELLING AND MARKETING EXPENSES | ||||
GENERAL AND ADMINISTRATIVE EXPENSES | (210,092) | (78,879) | (379,230) | (373,153) |
LOSS BEFORE INCOME TAX | (185,192) | (68,203) | (306,006) | (305,970) |
INCOME TAX PROVISION | ||||
NET LOSS | (185,192) | (68,203) | (306,006) | (305,970) |
Other comprehensive income: | ||||
- Foreign currency translation gain | 11,263 | 3,569 | 8,522 | 5,696 |
TOTAL COMPREHENSIVE LOSS | $ (173,929) | $ (64,634) | $ (297,484) | $ (300,274) |
Net loss per share- Basic and diluted | $ (0.0029) | $ (0.0011) | $ (0.005) | $ (0.0051) |
Weighted average number of common shares outstanding - Basic and diluted | 59,434,838 | 59,434,838 | 59,434,838 | 59,434,838 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jul. 31, 2020 | $ 5,943 | $ 1,830,300 | $ (3,361) | $ (1,644,904) | $ 187,978 |
Balance, shares at Jul. 31, 2020 | 59,434,838 | ||||
Net loss for the period | (96,601) | (96,601) | |||
Foreign currency translation adjustment | 2,877 | 2,877 | |||
Ending balance, value at Oct. 31, 2020 | $ 5,943 | 1,830,300 | (484) | (1,741,505) | 94,254 |
Ending balance, shares at Oct. 31, 2020 | 59,434,838 | ||||
Beginning balance, value at Jul. 31, 2020 | $ 5,943 | 1,830,300 | (3,361) | (1,644,904) | 187,978 |
Balance, shares at Jul. 31, 2020 | 59,434,838 | ||||
Net loss for the period | (305,970) | ||||
Foreign currency translation adjustment | 5,696 | ||||
Ending balance, value at Apr. 30, 2021 | $ 5,943 | 1,830,300 | 2,335 | (1,950,874) | (112,296) |
Ending balance, shares at Apr. 30, 2021 | 59,434,838 | ||||
Beginning balance, value at Oct. 31, 2020 | $ 5,943 | 1,830,300 | (484) | (1,741,505) | 94,254 |
Balance, shares at Oct. 31, 2020 | 59,434,838 | ||||
Net loss for the period | (141,166) | (141,166) | |||
Foreign currency translation adjustment | (750) | (750) | |||
Ending balance, value at Jan. 31, 2021 | $ 5,943 | 1,830,300 | (1,234) | (1,882,671) | (47,662) |
Ending balance, shares at Jan. 31, 2021 | 59,434,838 | ||||
Net loss for the period | (68,203) | (68,203) | |||
Foreign currency translation adjustment | 3,569 | 3,569 | |||
Ending balance, value at Apr. 30, 2021 | $ 5,943 | 1,830,300 | 2,335 | (1,950,874) | (112,296) |
Ending balance, shares at Apr. 30, 2021 | 59,434,838 | ||||
Beginning balance, value at Jul. 31, 2021 | $ 5,943 | 1,830,300 | 4,698 | (2,031,848) | (190,907) |
Balance, shares at Jul. 31, 2021 | 59,434,838 | ||||
Net loss for the period | (49,290) | (49,290) | |||
Foreign currency translation adjustment | (1,881) | (1,881) | |||
Ending balance, value at Oct. 31, 2021 | $ 5,943 | 1,830,300 | 2,817 | (2,081,138) | (242,078) |
Ending balance, shares at Oct. 31, 2021 | 59,434,838 | ||||
Beginning balance, value at Jul. 31, 2021 | $ 5,943 | 1,830,300 | 4,698 | (2,031,848) | (190,907) |
Balance, shares at Jul. 31, 2021 | 59,434,838 | ||||
Net loss for the period | (306,006) | ||||
Foreign currency translation adjustment | 8,522 | ||||
Ending balance, value at Apr. 30, 2022 | $ 5,943 | 1,830,300 | 13,220 | (2,337,855) | (488,392) |
Ending balance, shares at Apr. 30, 2022 | 59,434,838 | ||||
Beginning balance, value at Oct. 31, 2021 | $ 5,943 | 1,830,300 | 2,817 | (2,081,138) | (242,078) |
Balance, shares at Oct. 31, 2021 | 59,434,838 | ||||
Net loss for the period | (71,525) | (71,525) | |||
Foreign currency translation adjustment | (860) | (860) | |||
Ending balance, value at Jan. 31, 2022 | $ 5,943 | 1,830,300 | 1,957 | (2,152,663) | (314,463) |
Ending balance, shares at Jan. 31, 2022 | 59,434,838 | ||||
Net loss for the period | (185,192) | (185,192) | |||
Foreign currency translation adjustment | 11,263 | 11,263 | |||
Ending balance, value at Apr. 30, 2022 | $ 5,943 | $ 1,830,300 | $ 13,220 | $ (2,337,855) | $ (488,392) |
Ending balance, shares at Apr. 30, 2022 | 59,434,838 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Apr. 30, 2022 | Oct. 31, 2021 | Apr. 30, 2021 | Oct. 31, 2020 | Apr. 30, 2022 | Apr. 30, 2021 | Jul. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
Net loss | $ (185,192) | $ (49,290) | $ (68,203) | $ (96,601) | $ (306,006) | $ (305,970) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
Depreciation and amortization | 103,060 | 143,867 | |||||
Impairment | 177,580 | ||||||
Asset written off | 74,458 | ||||||
Reversal on termination of leased asset | (6,507) | ||||||
Gain on disposal | (21,875) | (11,840) | $ (16,695) | ||||
Changes in operating assets and liabilities: | |||||||
Other receivables | 194 | ||||||
Prepayments and deposits | 54,111 | 22,123 | |||||
Trade payable | |||||||
Other payables and accrued liabilities | (63,967) | (21,642) | |||||
Inventories | 16,774 | 9,607 | |||||
Amount due to related party | 76,976 | ||||||
Amount due from related party | (5,692) | (1,104) | |||||
Lease liabilities | (5,704) | (23,173) | |||||
Deposit from customer | (5,933) | ||||||
Deposit from franchisee | (2,184) | (3,360) | |||||
Net cash generated from/(used in) operating activities | 23,073 | (129,280) | |||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
Proceed on disposal of property, plant and equipment | 37,376 | 20,565 | 28,065 | ||||
Purchase of trademark | (2,841) | ||||||
Purchase of property, plant and equipment | (41,811) | ||||||
Net cash (used in)/generated from investing activities | (7,276) | 20,565 | |||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
Loan from director | (8,952) | 88,492 | |||||
Loan from related party | (7,044) | 22,567 | |||||
Loan from third party | (16,779) | ||||||
Net cash (used in)/provided by financing activities | (32,775) | 111,059 | |||||
Effect of exchange rate changes on cash and cash equivalents | (332) | (3,355) | |||||
Net change in cash and cash equivalents | (17,310) | (1,011) | |||||
Cash and cash equivalents, beginning of period | $ 20,231 | $ 11,670 | 20,231 | 11,670 | 11,670 | ||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 2,921 | $ 10,659 | 2,921 | 10,659 | $ 20,231 | ||
SUPPLEMENTAL CASH FLOWS INFORMATION | |||||||
Income taxes paid | |||||||
Interest paid |
DESCRIPTION OF BUSINESS AND ORG
DESCRIPTION OF BUSINESS AND ORGANIZATION | 9 Months Ended |
Apr. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
DESCRIPTION OF BUSINESS AND ORGANIZATION | 1. DESCRIPTION OF BUSINESS AND ORGANIZATION MU Global Holding Limited is organized as a Nevada limited liability company, incorporated on June 4, 2018. For purposes of consolidated financial statement presentation, MU Global Holding Limited and its subsidiary are herein referred to as “the Company” or “we”. The Company business of which planned principal operations are to provide wellness and beauty services to customers via Company owned outlets, franchised outlets or distribution of our product to third party wellness and beauty salon. On June 29, 2018, the Company acquired 100 Details of the Company’s subsidiary: SCHEDULE OF COMPANY'S SUBSIDIARY Company name Place and date of incorporation Particulars of issued capital Principal activities 1. MU Worldwide Group Limited Seychelles, June 7, 2018 100 shares of ordinary share of US$1 each Investment holding 2. MU Global Holding Limited Hong Kong, January 30, 2018 1 ordinary share of HKD$1 Providing SPA and Wellness service in Hong Kong 3. MU Global Health Management Shanghai, August 16, 2018 RMB 7,400,300 Providing SPA and Wellness service in China MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Apr. 30, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The Company has adopted its fiscal year-end to be July 31. Basis of consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation. Use of estimates Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates. Revenue recognition Financial Accounting Standards Board, or FASB, issued ASC 606. The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue. The Company derives its revenue from provision of wellness and beauty services to customers via Company owned outlets, franchised outlets or distribution of our product to third party wellness and beauty salon. Cost of revenue Cost of revenue includes the cost of services and product incurred to provide wellness and beauty services and purchase of products. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT ESTIMATED LIFE Categories Estimated useful life Leasable equipment 5 Computer hardware and software 3 Office equipment 3 Outlet equipment 3 Outlet design 3 Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations. MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) Impairment of long-live assets Long-lived assets primarily include trademark of the company. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented. Leases Effective November 1, 2019, the Company adopted the guidance of ASC 842, Leases, Inventories Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Condensed Consolidated Statements of Operations and Comprehensive Income. Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts The Company conducts major businesses in China and is subject to tax in this jurisdiction. As a result of its business activities, the Company will file tax returns that are subject to examination by the foreign tax authority. MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) Going concern The accompanying financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. For the period ended April 30, 2022, the Company has generated revenue of $ 39,357 and continuously incurred a net loss of $ 306,006 . As of April 30, 2022, the Company suffered an accumulated deficit of $ 2,337,855 . In addition, the Company is also having net current liabilities of $ 257,069 . The Company’s ability to continue as a going concern is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern. Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260 “ Earnings per share Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income. The functional currency of the parent company is United States dollar and the functional currency of the subsidiaries MU Worldwide Group Limited (Seychelles) and MU Global Holding Limited (Hong Kong) is United States dollar. MU Global Health Management (Shanghai) Limited is in Renminbi. The reporting currency of the Company and its subsidiary is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In general, for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement Foreign currencies translation (cont’d) Translation of amounts from RMB, TWD, and HK$ into US$1 has been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN EXCHANGE RATES TRANSLATION As of and for the nine months 2022 2021 Period-end RMB : US$1 exchange rate 6.608 6.474 Period-average RMB : US$1 exchange rate 6.398 6.623 Period-end HKD$ : US$1 exchange rate 7.846 7.766 Period-average HKD$ : US$1 exchange rate 7.798 7.755 Period-end TWD : US$1 exchange rate 29.486 27.924 Period-average TWD : US$1 exchange rate 27.999 28.498 Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) Fair value of financial instruments The carrying value of the Company’s financial instruments: cash and cash equivalents, account receivables, amount due to a director, and accounts payable and approximate at their fair values because of the short-term nature of these financial instruments. The Company also follows the guidance of the ASC Topic 820-10, “ Fair Value Measurements and Disclosures Level 1 Level 2 Level 3 Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) |
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 9 Months Ended |
Apr. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY, PLANT AND EQUIPMENT | 3. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment as of April 30, 2022 and July 31, 2021 are summarized below: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT As of April 30, 2022 (Unaudited) As of July 31, 2021 (Audited) Computer hardware and software $ 129,301 $ 129,301 Outlet equipment 120,651 120,651 Leasable equipment 1 235,648 216,924 Outlet design fee and equipment 16,763 16,763 App development fee 37,413 37,413 Total 539,776 521,052 Accumulated depreciation 2 $ (395,219 ) $ (307,197 ) Impairment (152,159 ) - Foreign currency translation adjustment 7,602 5,814 Property, plant and equipment, net $ - $ 219,669 1 For the period ended April 30, 2022, $ 23,087 2 For the nine months period ended April 30, 2022 and April 30, 2021, depreciation expense was $ 95,608 124,051 DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT SCHEDULE OF DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT As of April 30, 2022 (Unaudited) As of July 31, 2021 (Audited) Proceed from disposal of property, plant and equipment $ 37,376 $ 28,065 Disposal of equipment at cost (23,087 ) (16,141 ) Accumulated depreciation 7,586 4,771 Total gain on disposal $ 21,875 $ 16,695 |
LEASE
LEASE | 9 Months Ended |
Apr. 30, 2022 | |
Lease | |
LEASE | 4. LEASE The Company officially adopted ASC 842 for the period on and after November 1, 2019 as permitted by ASU 2016-02. ASC 842 originally required all entities to use a “modified retrospective” transition approach that is intended to maximize comparability and be less complex than a full retrospective approach. On July 30, 2018, the FASB issued ASU 2018-11 to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02 of which permits entities may elect not to recast the comparative periods presented when transitioning to ASC 842. As permitted by ASU 2018-11, the Company elect not to recast comparative periods, thusly. As of November 1, 2020, the Company recognized approximately US$ 19,724 4.15 6,443 4.35 A single lease cost is recognized over the lease term on a generally straight-line basis. All cash payments of operating lease cost are classified within operating activities in the statement of cash flows. The initial recognition of operating lease right and lease liability as follow: SCHEDULE OF RECOGNITION OF OPERATING LEASE RIGHT AND LEASE LIABILITY Gross lease payable $ 6,572 Less: imputed interest (129 ) Initial recognition as of November 6, 2021 $ 6,443 As of April 30, 2022, the operating lease right of use asset as follow: SCHEDULE OF OPERATING LEASE RIGHT OF USE ASSET Initial recognition as of November 6, 2021 $ 20,544 Add: New Lease 6,443 Less: Termination of lease (20,544 ) Balance 6,443 Effect of translation exchange (111 ) Accumulated amortization (3,183 ) Balance as of April 30, 2022 $ 3,149 As of April 30, 2022, the operating lease liability as follow: SCHEDULE OF OPERATING LEASE LIABILITY Initial recognition as of November 1, 2020 $ 20,544 Add: New operating lease liability 6,443 Less: Termination of lease (20,544 ) Effect of translation exchange (111 ) Less: gross repayment (3,282 ) Add: imputed interest 99 Balance as of April 30, 2022 3,149 Less: lease liability, current (3,149 ) Lease liability, non-current $ - For the nine months ended April 30, 2022, the amortization of the operating lease right of use asset was $ 5,747 19,816 Maturities of operating lease obligation as follow: SCHEDULE OF MATURITIES OF OPERATING LEASE OBLIGATION Year ending July 31, 2022 (3 months) $ 1,566 October 31, 2022 (3 months) 1,583 Total $ 3,149 MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) Other information: SCHEDULE OF OTHER INFORMATION Nine months ended April 30, 2022 2021 (Unaudited) (Unaudited) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow from operating lease $ 5,704 $ 23,173 Right-of-use assets obtained in exchange for operating lease liabilities 3,149 15,450 Remaining lease term for operating lease (years) 0.5 1.5 Weighted average discount rate for operating lease 4.35 % 4.15 % Lease expenses were $ 1,583 5,864 |
PATENT AND TRADEMARK
PATENT AND TRADEMARK | 9 Months Ended |
Apr. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
PATENT AND TRADEMARK | 5. PATENT AND TRADEMARK SCHEDULE OF PATENT AND TRADEMARK As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Patent and trademark 1 $ 32,404 $ 29,563 Accumulated amortization (6,986 ) (5,425 ) Impairment (25,421 ) - Foreign currency translation adjustment 3 (22 ) Total trademark $ - $ 24,116 1 The trademarks are held under the Company’s subsidiaries in Hong Kong and Shanghai, China. Amortization trademark for during the three and nine months ended April 30, 2022 was $ 0 1,561 |
PREPAYMENTS AND DEPOSITS
PREPAYMENTS AND DEPOSITS | 9 Months Ended |
Apr. 30, 2022 | |
Prepayments And Deposits | |
PREPAYMENTS AND DEPOSITS | 6. PREPAYMENTS AND DEPOSITS Prepayments and deposits consisted of the following at April 30, 2022 and July 31, 2021: SCHEDULE OF PREPAYMENTS AND DEPOSITS As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Deposits $ 4,822 $ 60,187 Prepayments 41,791 41,501 Total prepayments and deposits $ 46,613 $ 101,688 MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
Apr. 30, 2022 | |
Equity [Abstract] | |
COMMON STOCK | 7. COMMON STOCK On June 4, 2018, our Chief Executive Officer, Ms. Niu Yen-Yen subscribed 100,000 0.0001 10 On July 6, 2018, Ms. Niu Yen-Yen and Server Int’l Co., Ltd. subscribed 25,000,000 11,000,000 0.0001 3,600 On July 7, 2018, Chang Chun-Ying and Chang Su-Fen subscribed 4,300,000 5,000,000 0.0001 930 On July 9, 2018, GreenPro Asia Strategic SPC and GreenPro Venture Capital Limited, subscribed 2,835,000 2,165,000 0.0001 500 From July 9, 2018 to July 10, 2018 the Company issued a total of 2,150,000 0.0001 215 On July 11, 2018 the Company issued a total of 710,000 0.03 21,300 On July 25, 2018 the Company issued a total of 995,000 0.03 29,850 On July 26, 2018 the Company issued 250,000 0.20 50,000 On July 31, 2018 Dezign Format Pte Ltd and Cheng Young-Chien each subscribed 2,000,000 0.20 800,000 On July 10, 2018, Server Int’l Co., Ltd, a Company solely controlled and owned by the CEO has transferred 1,500,000 From August 1, 2018 to December 13, 2018, Ms. Niu Yen-Yen, the CEO of the Company has transferred 1,557,800 On May 7, 2019, the convertible promissory note issued by the Company amounted $ 779,125 1 779,125 From May 14, 2019 to July 31, 2019, the company issued 150,317 1.00 As of April 30, 2022, MU Global Holding Limited has an issued and outstanding common share of 59,434,838 MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) |
INVENTORIES
INVENTORIES | 9 Months Ended |
Apr. 30, 2022 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | 8. INVENTORIES SCHEDULE OF INVENTORIES As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Finished goods, at cost $ 20,745 $ 38,374 Total inventories $ 20,745 $ 38,374 |
AMOUNT DUE FROM RELATED PARTY
AMOUNT DUE FROM RELATED PARTY | 9 Months Ended |
Apr. 30, 2022 | |
Amount Due From Related Party | |
AMOUNT DUE FROM RELATED PARTY | 9. AMOUNT DUE FROM RELATED PARTY SCHEDULE OF DUE FROM RELATED PARTY As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Tien Mu International Co., Ltd 1 $ 16,118 $ 10,425 Total $ 16,118 $ 10,425 Total amount due from related party $ 16,118 $ 10,425 1 Tien Mu International Co., Ltd is owned by Ms. Niu Yen-Yen, the Director and Chief Executive Officer of the Company. Tien Mu International Co., Ltd is an operating agent of the Company’s operation in Taiwan, which collects deposits from franchisees on behalf of the Company. |
OTHER PAYABLES AND ACCRUED LIAB
OTHER PAYABLES AND ACCRUED LIABILITIES | 9 Months Ended |
Apr. 30, 2022 | |
Payables and Accruals [Abstract] | |
OTHER PAYABLES AND ACCRUED LIABILITIES | 10. OTHER PAYABLES AND ACCRUED LIABILITIES Other payables and accrued liabilities consisted of the following at April 30, 2022 and July 31, 2021: SCHEDULE OF OTHER PAYABLES AND ACCRUED LIABILITIES As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Accrued audit fees $ 3,500 $ 14,000 Accrued professional fees 1,250 5,150 Other payables 6,586 2,942 Total payables and accrued liabilities $ 11,336 $ 22,092 MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) |
AMOUNT DUE TO RELATED PARTIES
AMOUNT DUE TO RELATED PARTIES | 9 Months Ended |
Apr. 30, 2022 | |
Amount Due To Related Parties | |
AMOUNT DUE TO RELATED PARTIES | 11. AMOUNT DUE TO RELATED PARTIES SCHEDULE OF DUE TO RELATED PARTIES As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Wu, Chun-Teh 1 $ 41,238 $ 42,177 Hsieh, Chang-Chung 2 76,976 53,276 Total amounts due to related parties $ 118,214 $ 95,453 As of April 30, 2022, the balance $ 118,214 1 Wu, Chun-Teh is a shareholder and was the staff of the Company, previously providing consultation services to the Company. He had paid company operation expenses such as renovation cost, rental and staff salaries on behalf of Company before the bank account of the Company’s Shanghai subsidiary in China could be established and used for daily operation. 2 Hsieh, Chang-Chung is Chief Financial Officer (“Principal Financial Officer”, “Principal Accounting Officer”) of the Company, and the amount represents the salary expenses accrued. The amounts due to related parties are unsecured, interest-free and repayable on demand, for working capital purpose. |
LOAN FROM DIRECTOR
LOAN FROM DIRECTOR | 9 Months Ended |
Apr. 30, 2022 | |
Loan From Director | |
LOAN FROM DIRECTOR | 12. LOAN FROM DIRECTOR SCHEDULE OF LOAN FROM DIRECTOR As of As of April 30, 2022 July 31, 2021 (Unaudited) (Audited) Current $ 142,938 $ 138,443 Non-current 119,715 136,193 Total loan from Director $ 262,653 $ 274,636 The short-term loan provided by director is unsecured, interest-free with repayable in one to two years, for working capital purpose. The long-term loan provided by director is unsecured, interest-free and repayable on year 2023 and year 2024. |
LOAN FROM RELATED PARTY
LOAN FROM RELATED PARTY | 9 Months Ended |
Apr. 30, 2022 | |
Loan From Related Party | |
LOAN FROM RELATED PARTY | 13. LOAN FROM RELATED PARTY SCHEDULE OF LOAN FROM RELATED PARTY As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Hong Ting Network Technology (Xiamen) Limited 1 $ 44,404 $ 52,620 Total $ 44,404 $ 52,620 Loan from related party $ 44,404 $ 52,620 1 Hong Ting Network Technology (Xiamen) Limited is wholly-owned by Ms. Niu Yen-Yen, who is also the Director and Chief Executive Officer of the Company. The loan is unsecured, interest-free and repayable in May 31, 2020 and further extended to May 31, 2023 with a loan agreement entered on September 2, 2021. |
LOAN FROM THIRD PARTY
LOAN FROM THIRD PARTY | 9 Months Ended |
Apr. 30, 2022 | |
Loan From Third Party | |
LOAN FROM THIRD PARTY | 14. LOAN FROM THIRD PARTY SCHEDULE OF LOAN FROM THIRD PARTY As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Shang Hai Shi Ba Enterprise Management Centre $ 67,204 $ 85,895 Total $ 67,204 $ 85,895 Loan from third party $ 67,204 $ 85,895 The loan is unsecured, interest-free and repayable on July 22, 2023. MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Apr. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 15. INCOME TAXES For the nine months period ended April 30, 2022, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following: SCHEDULE OF LOSS BEFORE INCOME TAX Nine months Ended April 30, 2022 2021 (Unaudited) (Unaudited) Tax jurisdictions from: Local $ (28,520 ) (26,644 ) Foreign, representing - Seychelles (257 ) - - Hong Kong $ (92,293 ) (58,517 ) - Shanghai $ (184,936 ) (220,809 ) Loss before income tax $ (306,006 ) (305,970 ) The provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES - Local $ - $ - For the period April 30, 2022 For the year April 30, 2021 Current: - Local $ - $ - - Foreign - - Deferred: - Local - - - Foreign - - Income tax expense $ - $ - The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company has subsidiaries that operate in various countries: United States Seychelles, Hong Kong and Shanghai, PRC that are subject to taxes in the jurisdictions in which they operate, as follows: United States of America The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of April 30, 2022, the operations in the United States of America incurred $ 415,428 80 332,342 Seychelles Under the current laws of the Seychelles, MU Worldwide Group Limited is registered as an international business company which governs by the International Business Companies Act of Seychelles and there is no income tax charged in Seychelles. Hong Kong MU Global Holding Limited is subject to Hong Kong Profits Tax, which is charged at the statutory income tax rate of 16.5 Shanghai MU Global Health Management (Shanghai) Limited are operating in the People’s Republic of China (PRC) subject to the Corporate Income Tax governed by the Income Tax Law of the PRC with a unified statutory income tax rate of 25 MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) |
CONCENTRATIONS OF RISK
CONCENTRATIONS OF RISK | 9 Months Ended |
Apr. 30, 2022 | |
Risks and Uncertainties [Abstract] | |
CONCENTRATIONS OF RISK | 16. CONCENTRATIONS OF RISK (a) Major customers For the nine months period ended April 30, 2022 and 2021, the customers who accounted for 10% or more of the Company’s revenues and its accounts receivable balance at period-end are presented as follows: SCHEDULES OF CONCENTRATION OF RISK 2022 2021 2022 2021 2022 2021 Revenue Percentage of Accounts receivable, trade (Unaudited) (Unaudited) (Unaudited) Customer A $ 37,508 $ - 95 % - $ - - $ 37,508 $ - 95 % - $ - - (b) Major suppliers For the nine months period ended April 30, 2022 and 2021, there is no vendor who accounted for 10 (c) Exchange rate risk The operation of the Company’s subsidiaries in international markets results in exposure to movements in currency exchange rates. We have experienced foreign currency gains and losses due to the strengthening and weakening of the U.S. dollar. The potential of volatile foreign exchange rate fluctuations in the future could have a significant effect on our results of operations. The Company has not historically used financial instruments to hedge its foreign currency exchange rate risks. The currencies that create a majority of the Company’s exchange rate exposure are RMB, HK$, and TWD. The Company translates all assets and liabilities at the rate of exchange in effect at the balance sheet date and income and expense activity at the approximate rate of exchange at the transaction date. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Apr. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 17. COMMITMENTS AND CONTINGENCIES On October 29, 2021, the Company entered into a contract rental agreement to rent the office in Shanghai for a period of 1 As of April 30, 2022, the Company has the aggregate minimal rent payments due in the current year and next years as follows: SCHEDULE OF AGGREGATE MINIMAL RENT PAYMENTS 2022 1,566 Year ending July 31 2022 1,566 2023 1,583 Total $ 3,149 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Apr. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | 18. RELATED PARTY TRANSACTIONS For the period ended April 30, 2022 the Company has following transactions with related parties: SCHEDULE OF OUTSTANDING PAYABLE TO RELATED PARTY For the period April 30, 2022 For the year ended July 31, 2021 (Unaudited) (Audited) Professional fee: - Related party A $ 8,137 $ 26,460 Consultation fee: - Related party B $ 24,300 $ 21,800 - Related party C $ - $ 10,500 Total $ 32,437 $ 58,760 Related party A is the fellow subsidiaries of a corporate shareholder of the Company. Related party B and C are the employees of the Company and have provided consultancy service for business operation. MU GLOBAL HOLDING LIMITED NOTES TO CONDENSED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED APRIL 30, 2022 (Currency expressed in United States Dollars (“US$”), except for number of shares) (UNAUDITED) For the period ended April 30, 2022, the Company incurred professional fees of $ 8,137 24,300 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 9 Months Ended |
Apr. 30, 2022 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | 19. SEGMENT INFORMATION ASC 280, “Segment Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about services categories, business segments and major customers in financial statements. In accordance with the “Segment Reporting” Topic of the ASC, the Company’s chief operating decision maker has been identified as the Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. Existing guidance, which is based on a management approach to segment reporting, establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products and services, major customers, and the countries in which the entity holds material assets and reports revenue. All material operating units qualify for aggregation under “Segment Reporting” due to their similar customer base and similarities in economic characteristics; nature of products and services; and procurement, manufacturing and distribution processes. The Company had no inter-segment sales for the periods presented. Summarized financial information concerning the Company’s reportable segments is shown as below: SCHEDULE OF SEGMENT REPORTING INFORMATION By Geography: Nevada Seychelles $ HK $ China $ Total For the period ended April 30, 2022 Nevada Seychelles Hong Kong China Total Revenue $ - $ - $ - $ 39,357 $ 39,357 Cost of revenue - - - (17,628 ) (17,628 ) Depreciation and amortization - - (13,670 ) (90,710 ) (104,380 ) Net loss before taxation (28,520 ) (257 ) (92,293 ) (184,936 ) (306,006 ) Total assets $ 1,480 $ 1 $ 21,933 $ 66,132 $ 89,546 Nevada Seychelles $ HK $ China $ Total For the period ended April 30, 2021 Nevada Seychelles Hong Kong China Total Revenue $ - $ - $ 196 $ 46,380 $ 46,576 Cost of revenue - - - (9,607 ) (9,607 ) Depreciation and amortization - - (16,875 ) (126,992 ) (143,867 ) Net loss before taxation (26,644 ) - (58,517 ) (220,809 ) (305,970 ) Total assets $ - - $ 1 $ 141,511 $ 315,002 $ 456,513 *Revenues and costs are attributed to countries based on the location of customers. |
SIGNIFICANT EVENTS
SIGNIFICANT EVENTS | 9 Months Ended |
Apr. 30, 2022 | |
Significant Events | |
SIGNIFICANT EVENTS | 20. SIGNIFICANT EVENTS On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the “COVID-19 outbreak”) and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report. As such, it is uncertain as to the full magnitude that the pandemic will have on our financial condition, liquidity, and future results of operations. Management is actively monitoring the impact of the global situation on our financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evolution of the COVID-19 outbreak and the global responses to curb its spread, we are not able to estimate the effects of the COVID-19 outbreak on our results of operations, financial condition, or liquidity for the period ended April 30, 2022. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Apr. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 21. SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through April 30, 2022 the date the Company issued unaudited consolidated financial statements in accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued. During this period, there was no subsequent event that required recognition or disclosure. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Apr. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The Company has adopted its fiscal year-end to be July 31. |
Basis of consolidation | Basis of consolidation The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation. |
Use of estimates | Use of estimates Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates. |
Revenue recognition | Revenue recognition Financial Accounting Standards Board, or FASB, issued ASC 606. The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue. The Company derives its revenue from provision of wellness and beauty services to customers via Company owned outlets, franchised outlets or distribution of our product to third party wellness and beauty salon. |
Cost of revenue | Cost of revenue Cost of revenue includes the cost of services and product incurred to provide wellness and beauty services and purchase of products. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. |
Property, plant and equipment | Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT ESTIMATED LIFE Categories Estimated useful life Leasable equipment 5 Computer hardware and software 3 Office equipment 3 Outlet equipment 3 Outlet design 3 Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations. |
Impairment of long-live assets | Impairment of long-live assets Long-lived assets primarily include trademark of the company. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented. |
Leases | Leases Effective November 1, 2019, the Company adopted the guidance of ASC 842, Leases, |
Inventories | Inventories Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Condensed Consolidated Statements of Operations and Comprehensive Income. |
Income taxes | Income taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, “ Income Taxes ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts The Company conducts major businesses in China and is subject to tax in this jurisdiction. As a result of its business activities, the Company will file tax returns that are subject to examination by the foreign tax authority. |
Going concern | Going concern The accompanying financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. For the period ended April 30, 2022, the Company has generated revenue of $ 39,357 and continuously incurred a net loss of $ 306,006 . As of April 30, 2022, the Company suffered an accumulated deficit of $ 2,337,855 . In addition, the Company is also having net current liabilities of $ 257,069 . The Company’s ability to continue as a going concern is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern. |
Net loss per share | Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260 “ Earnings per share |
Foreign currencies translation | Foreign currencies translation Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income. The functional currency of the parent company is United States dollar and the functional currency of the subsidiaries MU Worldwide Group Limited (Seychelles) and MU Global Holding Limited (Hong Kong) is United States dollar. MU Global Health Management (Shanghai) Limited is in Renminbi. The reporting currency of the Company and its subsidiary is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. In general, for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement Foreign currencies translation (cont’d) Translation of amounts from RMB, TWD, and HK$ into US$1 has been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN EXCHANGE RATES TRANSLATION As of and for the nine months 2022 2021 Period-end RMB : US$1 exchange rate 6.608 6.474 Period-average RMB : US$1 exchange rate 6.398 6.623 Period-end HKD$ : US$1 exchange rate 7.846 7.766 Period-average HKD$ : US$1 exchange rate 7.798 7.755 Period-end TWD : US$1 exchange rate 29.486 27.924 Period-average TWD : US$1 exchange rate 27.999 28.498 |
Related parties | Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. |
Fair value of financial instruments | Fair value of financial instruments The carrying value of the Company’s financial instruments: cash and cash equivalents, account receivables, amount due to a director, and accounts payable and approximate at their fair values because of the short-term nature of these financial instruments. The Company also follows the guidance of the ASC Topic 820-10, “ Fair Value Measurements and Disclosures Level 1 Level 2 Level 3 |
Recent accounting pronouncements | Recent accounting pronouncements The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
DESCRIPTION OF BUSINESS AND O_2
DESCRIPTION OF BUSINESS AND ORGANIZATION (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
SCHEDULE OF COMPANY'S SUBSIDIARY | Details of the Company’s subsidiary: SCHEDULE OF COMPANY'S SUBSIDIARY Company name Place and date of incorporation Particulars of issued capital Principal activities 1. MU Worldwide Group Limited Seychelles, June 7, 2018 100 shares of ordinary share of US$1 each Investment holding 2. MU Global Holding Limited Hong Kong, January 30, 2018 1 ordinary share of HKD$1 Providing SPA and Wellness service in Hong Kong 3. MU Global Health Management Shanghai, August 16, 2018 RMB 7,400,300 Providing SPA and Wellness service in China |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Accounting Policies [Abstract] | |
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT ESTIMATED LIFE | SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT ESTIMATED LIFE Categories Estimated useful life Leasable equipment 5 Computer hardware and software 3 Office equipment 3 Outlet equipment 3 Outlet design 3 |
SCHEDULE OF FOREIGN EXCHANGE RATES TRANSLATION | Translation of amounts from RMB, TWD, and HK$ into US$1 has been made at the following exchange rates for the respective periods: SCHEDULE OF FOREIGN EXCHANGE RATES TRANSLATION As of and for the nine months 2022 2021 Period-end RMB : US$1 exchange rate 6.608 6.474 Period-average RMB : US$1 exchange rate 6.398 6.623 Period-end HKD$ : US$1 exchange rate 7.846 7.766 Period-average HKD$ : US$1 exchange rate 7.798 7.755 Period-end TWD : US$1 exchange rate 29.486 27.924 Period-average TWD : US$1 exchange rate 27.999 28.498 |
PROPERTY, PLANT AND EQUIPMENT (
PROPERTY, PLANT AND EQUIPMENT (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT | Property, plant and equipment as of April 30, 2022 and July 31, 2021 are summarized below: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT As of April 30, 2022 (Unaudited) As of July 31, 2021 (Audited) Computer hardware and software $ 129,301 $ 129,301 Outlet equipment 120,651 120,651 Leasable equipment 1 235,648 216,924 Outlet design fee and equipment 16,763 16,763 App development fee 37,413 37,413 Total 539,776 521,052 Accumulated depreciation 2 $ (395,219 ) $ (307,197 ) Impairment (152,159 ) - Foreign currency translation adjustment 7,602 5,814 Property, plant and equipment, net $ - $ 219,669 1 For the period ended April 30, 2022, $ 23,087 2 For the nine months period ended April 30, 2022 and April 30, 2021, depreciation expense was $ 95,608 124,051 |
SCHEDULE OF DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT | DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT SCHEDULE OF DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT As of April 30, 2022 (Unaudited) As of July 31, 2021 (Audited) Proceed from disposal of property, plant and equipment $ 37,376 $ 28,065 Disposal of equipment at cost (23,087 ) (16,141 ) Accumulated depreciation 7,586 4,771 Total gain on disposal $ 21,875 $ 16,695 |
LEASE (Tables)
LEASE (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Lease | |
SCHEDULE OF RECOGNITION OF OPERATING LEASE RIGHT AND LEASE LIABILITY | The initial recognition of operating lease right and lease liability as follow: SCHEDULE OF RECOGNITION OF OPERATING LEASE RIGHT AND LEASE LIABILITY Gross lease payable $ 6,572 Less: imputed interest (129 ) Initial recognition as of November 6, 2021 $ 6,443 |
SCHEDULE OF OPERATING LEASE RIGHT OF USE ASSET | As of April 30, 2022, the operating lease right of use asset as follow: SCHEDULE OF OPERATING LEASE RIGHT OF USE ASSET Initial recognition as of November 6, 2021 $ 20,544 Add: New Lease 6,443 Less: Termination of lease (20,544 ) Balance 6,443 Effect of translation exchange (111 ) Accumulated amortization (3,183 ) Balance as of April 30, 2022 $ 3,149 |
SCHEDULE OF OPERATING LEASE LIABILITY | As of April 30, 2022, the operating lease liability as follow: SCHEDULE OF OPERATING LEASE LIABILITY Initial recognition as of November 1, 2020 $ 20,544 Add: New operating lease liability 6,443 Less: Termination of lease (20,544 ) Effect of translation exchange (111 ) Less: gross repayment (3,282 ) Add: imputed interest 99 Balance as of April 30, 2022 3,149 Less: lease liability, current (3,149 ) Lease liability, non-current $ - |
SCHEDULE OF MATURITIES OF OPERATING LEASE OBLIGATION | Maturities of operating lease obligation as follow: SCHEDULE OF MATURITIES OF OPERATING LEASE OBLIGATION Year ending July 31, 2022 (3 months) $ 1,566 October 31, 2022 (3 months) 1,583 Total $ 3,149 |
SCHEDULE OF OTHER INFORMATION | Other information: SCHEDULE OF OTHER INFORMATION Nine months ended April 30, 2022 2021 (Unaudited) (Unaudited) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow from operating lease $ 5,704 $ 23,173 Right-of-use assets obtained in exchange for operating lease liabilities 3,149 15,450 Remaining lease term for operating lease (years) 0.5 1.5 Weighted average discount rate for operating lease 4.35 % 4.15 % |
PATENT AND TRADEMARK (Tables)
PATENT AND TRADEMARK (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF PATENT AND TRADEMARK | SCHEDULE OF PATENT AND TRADEMARK As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Patent and trademark 1 $ 32,404 $ 29,563 Accumulated amortization (6,986 ) (5,425 ) Impairment (25,421 ) - Foreign currency translation adjustment 3 (22 ) Total trademark $ - $ 24,116 1 The trademarks are held under the Company’s subsidiaries in Hong Kong and Shanghai, China. |
PREPAYMENTS AND DEPOSITS (Table
PREPAYMENTS AND DEPOSITS (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Prepayments And Deposits | |
SCHEDULE OF PREPAYMENTS AND DEPOSITS | Prepayments and deposits consisted of the following at April 30, 2022 and July 31, 2021: SCHEDULE OF PREPAYMENTS AND DEPOSITS As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Deposits $ 4,822 $ 60,187 Prepayments 41,791 41,501 Total prepayments and deposits $ 46,613 $ 101,688 |
INVENTORIES (Tables)
INVENTORIES (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Inventory Disclosure [Abstract] | |
SCHEDULE OF INVENTORIES | SCHEDULE OF INVENTORIES As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Finished goods, at cost $ 20,745 $ 38,374 Total inventories $ 20,745 $ 38,374 |
AMOUNT DUE FROM RELATED PARTY (
AMOUNT DUE FROM RELATED PARTY (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Amount Due From Related Party | |
SCHEDULE OF DUE FROM RELATED PARTY | SCHEDULE OF DUE FROM RELATED PARTY As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Tien Mu International Co., Ltd 1 $ 16,118 $ 10,425 Total $ 16,118 $ 10,425 Total amount due from related party $ 16,118 $ 10,425 1 Tien Mu International Co., Ltd is owned by Ms. Niu Yen-Yen, the Director and Chief Executive Officer of the Company. Tien Mu International Co., Ltd is an operating agent of the Company’s operation in Taiwan, which collects deposits from franchisees on behalf of the Company. |
OTHER PAYABLES AND ACCRUED LI_2
OTHER PAYABLES AND ACCRUED LIABILITIES (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Payables and Accruals [Abstract] | |
SCHEDULE OF OTHER PAYABLES AND ACCRUED LIABILITIES | Other payables and accrued liabilities consisted of the following at April 30, 2022 and July 31, 2021: SCHEDULE OF OTHER PAYABLES AND ACCRUED LIABILITIES As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Accrued audit fees $ 3,500 $ 14,000 Accrued professional fees 1,250 5,150 Other payables 6,586 2,942 Total payables and accrued liabilities $ 11,336 $ 22,092 |
AMOUNT DUE TO RELATED PARTIES (
AMOUNT DUE TO RELATED PARTIES (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Amount Due To Related Parties | |
SCHEDULE OF DUE TO RELATED PARTIES | SCHEDULE OF DUE TO RELATED PARTIES As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Wu, Chun-Teh 1 $ 41,238 $ 42,177 Hsieh, Chang-Chung 2 76,976 53,276 Total amounts due to related parties $ 118,214 $ 95,453 As of April 30, 2022, the balance $ 118,214 1 Wu, Chun-Teh is a shareholder and was the staff of the Company, previously providing consultation services to the Company. He had paid company operation expenses such as renovation cost, rental and staff salaries on behalf of Company before the bank account of the Company’s Shanghai subsidiary in China could be established and used for daily operation. 2 Hsieh, Chang-Chung is Chief Financial Officer (“Principal Financial Officer”, “Principal Accounting Officer”) of the Company, and the amount represents the salary expenses accrued. |
LOAN FROM DIRECTOR (Tables)
LOAN FROM DIRECTOR (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Loan From Director | |
SCHEDULE OF LOAN FROM DIRECTOR | SCHEDULE OF LOAN FROM DIRECTOR As of As of April 30, 2022 July 31, 2021 (Unaudited) (Audited) Current $ 142,938 $ 138,443 Non-current 119,715 136,193 Total loan from Director $ 262,653 $ 274,636 |
LOAN FROM RELATED PARTY (Tables
LOAN FROM RELATED PARTY (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Loan From Related Party | |
SCHEDULE OF LOAN FROM RELATED PARTY | SCHEDULE OF LOAN FROM RELATED PARTY As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Hong Ting Network Technology (Xiamen) Limited 1 $ 44,404 $ 52,620 Total $ 44,404 $ 52,620 Loan from related party $ 44,404 $ 52,620 1 Hong Ting Network Technology (Xiamen) Limited is wholly-owned by Ms. Niu Yen-Yen, who is also the Director and Chief Executive Officer of the Company. The loan is unsecured, interest-free and repayable in May 31, 2020 and further extended to May 31, 2023 with a loan agreement entered on September 2, 2021. |
LOAN FROM THIRD PARTY (Tables)
LOAN FROM THIRD PARTY (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Loan From Third Party | |
SCHEDULE OF LOAN FROM THIRD PARTY | SCHEDULE OF LOAN FROM THIRD PARTY As of April 30, 2022 As of July 31, 2021 (Unaudited) (Audited) Shang Hai Shi Ba Enterprise Management Centre $ 67,204 $ 85,895 Total $ 67,204 $ 85,895 Loan from third party $ 67,204 $ 85,895 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF LOSS BEFORE INCOME TAX | For the nine months period ended April 30, 2022, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following: SCHEDULE OF LOSS BEFORE INCOME TAX Nine months Ended April 30, 2022 2021 (Unaudited) (Unaudited) Tax jurisdictions from: Local $ (28,520 ) (26,644 ) Foreign, representing - Seychelles (257 ) - - Hong Kong $ (92,293 ) (58,517 ) - Shanghai $ (184,936 ) (220,809 ) Loss before income tax $ (306,006 ) (305,970 ) |
SCHEDULE OF PROVISION FOR INCOME TAXES | The provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES - Local $ - $ - For the period April 30, 2022 For the year April 30, 2021 Current: - Local $ - $ - - Foreign - - Deferred: - Local - - - Foreign - - Income tax expense $ - $ - |
CONCENTRATIONS OF RISK (Tables)
CONCENTRATIONS OF RISK (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Risks and Uncertainties [Abstract] | |
SCHEDULES OF CONCENTRATION OF RISK | For the nine months period ended April 30, 2022 and 2021, the customers who accounted for 10% or more of the Company’s revenues and its accounts receivable balance at period-end are presented as follows: SCHEDULES OF CONCENTRATION OF RISK 2022 2021 2022 2021 2022 2021 Revenue Percentage of Accounts receivable, trade (Unaudited) (Unaudited) (Unaudited) Customer A $ 37,508 $ - 95 % - $ - - $ 37,508 $ - 95 % - $ - - |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
SCHEDULE OF AGGREGATE MINIMAL RENT PAYMENTS | As of April 30, 2022, the Company has the aggregate minimal rent payments due in the current year and next years as follows: SCHEDULE OF AGGREGATE MINIMAL RENT PAYMENTS 2022 1,566 Year ending July 31 2022 1,566 2023 1,583 Total $ 3,149 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Related Party Transactions [Abstract] | |
SCHEDULE OF OUTSTANDING PAYABLE TO RELATED PARTY | For the period ended April 30, 2022 the Company has following transactions with related parties: SCHEDULE OF OUTSTANDING PAYABLE TO RELATED PARTY For the period April 30, 2022 For the year ended July 31, 2021 (Unaudited) (Audited) Professional fee: - Related party A $ 8,137 $ 26,460 Consultation fee: - Related party B $ 24,300 $ 21,800 - Related party C $ - $ 10,500 Total $ 32,437 $ 58,760 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 9 Months Ended |
Apr. 30, 2022 | |
Segment Reporting [Abstract] | |
SCHEDULE OF SEGMENT REPORTING INFORMATION | The Company had no inter-segment sales for the periods presented. Summarized financial information concerning the Company’s reportable segments is shown as below: SCHEDULE OF SEGMENT REPORTING INFORMATION By Geography: Nevada Seychelles $ HK $ China $ Total For the period ended April 30, 2022 Nevada Seychelles Hong Kong China Total Revenue $ - $ - $ - $ 39,357 $ 39,357 Cost of revenue - - - (17,628 ) (17,628 ) Depreciation and amortization - - (13,670 ) (90,710 ) (104,380 ) Net loss before taxation (28,520 ) (257 ) (92,293 ) (184,936 ) (306,006 ) Total assets $ 1,480 $ 1 $ 21,933 $ 66,132 $ 89,546 Nevada Seychelles $ HK $ China $ Total For the period ended April 30, 2021 Nevada Seychelles Hong Kong China Total Revenue $ - $ - $ 196 $ 46,380 $ 46,576 Cost of revenue - - - (9,607 ) (9,607 ) Depreciation and amortization - - (16,875 ) (126,992 ) (143,867 ) Net loss before taxation (26,644 ) - (58,517 ) (220,809 ) (305,970 ) Total assets $ - - $ 1 $ 141,511 $ 315,002 $ 456,513 *Revenues and costs are attributed to countries based on the location of customers. |
SCHEDULE OF COMPANY'S SUBSIDIAR
SCHEDULE OF COMPANY'S SUBSIDIARY (Details) | 9 Months Ended |
Apr. 30, 2022 | |
MU Worldwide Group Limited [Member] | |
Place and date of incorporation | Seychelles, June 7, 2018 |
Particulars of issued capital | 100 shares of ordinary share of US$1 each |
Principal activities | Investment holding |
MU Global Holding Limited [Member] | |
Place and date of incorporation | Hong Kong, January 30, 2018 |
Particulars of issued capital | 1 ordinary share of HKD$1 |
Principal activities | Providing SPA and Wellness service in Hong Kong |
MU Global Health Management Shanghai Limited [Member] | |
Place and date of incorporation | Shanghai, August 16, 2018 |
Particulars of issued capital | RMB 7,400,300 |
Principal activities | Providing SPA and Wellness service in China |
DESCRIPTION OF BUSINESS AND O_3
DESCRIPTION OF BUSINESS AND ORGANIZATION (Details Narrative) | Jun. 29, 2018 |
MU Worldwide Group Limited [Member] | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |
Acquired interest for private limited liability | 100.00% |
SCHEDULE OF PROPERTY, PLANT AND
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT ESTIMATED LIFE (Details) | 9 Months Ended |
Apr. 30, 2022 | |
Leasable Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Computer Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 3 years |
Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 3 years |
Outlet Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 3 years |
Outlet Design [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 3 years |
SCHEDULE OF FOREIGN EXCHANGE RA
SCHEDULE OF FOREIGN EXCHANGE RATES TRANSLATION (Details) | Apr. 30, 2022 | Apr. 30, 2021 |
Period End RMB US Dollar Exchange Rate [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Foreign currency exchange rate, translation | 6.608 | 6.474 |
Period Average RMB US Dollar Exchange Rate [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Foreign currency exchange rate, translation | 6.398 | 6.623 |
Period End HKD US Dollar Exchange Rate [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Foreign currency exchange rate, translation | 7.846 | 7.766 |
Period Average HKD US Dollar Exchange Rate [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Foreign currency exchange rate, translation | 7.798 | 7.755 |
Period End TWD US Dollar Exchange Rate [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Foreign currency exchange rate, translation | 29.486 | 27.924 |
Period Average TWD US Dollar Exchange Rate [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Foreign currency exchange rate, translation | 27.999 | 28.498 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Apr. 30, 2022 | Jan. 31, 2022 | Oct. 31, 2021 | Apr. 30, 2021 | Jan. 31, 2021 | Oct. 31, 2020 | Apr. 30, 2022 | Apr. 30, 2021 | Jul. 31, 2021 | |
Accounting Policies [Abstract] | |||||||||
Income tax description for likelihood | tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts | ||||||||
Revenue | $ 570 | $ 5,500 | $ 39,357 | $ 46,576 | |||||
Net income loss | 185,192 | $ 71,525 | $ 49,290 | $ 68,203 | $ 141,166 | $ 96,601 | 306,006 | $ 305,970 | |
Accumulated deficit | 2,337,855 | 2,337,855 | $ 2,031,848 | ||||||
Current liabilities, net | $ 257,069 | $ 257,069 |
SCHEDULE OF PROPERTY, PLANT A_2
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 | |
Property, Plant and Equipment [Line Items] | |||
Total | $ 539,776 | $ 521,052 | |
Accumulated depreciation | [1] | (395,219) | (307,197) |
Impairment | (152,159) | ||
Foreign currency translation adjustment | 7,602 | 5,814 | |
Property, plant and equipment, net | 219,669 | ||
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total | 129,301 | 129,301 | |
Outlet Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total | 120,651 | 120,651 | |
Leasable Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total | [2] | 235,648 | 216,924 |
Outlet Design Fee and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total | 16,763 | 16,763 | |
Application Development Fee [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total | $ 37,413 | $ 37,413 | |
[1] | For the nine months period ended April 30, 2022 and April 30, 2021, depreciation expense was $ 95,608 124,051 | ||
[2] | For the period ended April 30, 2022, $ 23,087 |
SCHEDULE OF PROPERTY, PLANT A_3
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) (Parenthetical) - USD ($) | 9 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Written-off | $ 74,458 | |
Depreciation | 95,608 | $ 124,051 |
Leasable Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Written-off | $ 23,087 |
SCHEDULE OF DISPOSAL OF PROPERT
SCHEDULE OF DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | Jul. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |||
Proceed from disposal of property, plant and equipment | $ 37,376 | $ 20,565 | $ 28,065 |
Disposal of equipment at cost | (23,087) | (16,141) | |
Accumulated depreciation | 7,586 | 4,771 | |
Total gain on disposal | $ 21,875 | $ 11,840 | $ 16,695 |
SCHEDULE OF RECOGNITION OF OPER
SCHEDULE OF RECOGNITION OF OPERATING LEASE RIGHT AND LEASE LIABILITY (Details) | Nov. 06, 2021USD ($) |
Lease | |
Gross lease payable | $ 6,572 |
Less: imputed interest | (129) |
Initial recognition as of November 6, 2021 | $ 6,443 |
SCHEDULE OF OPERATING LEASE RIG
SCHEDULE OF OPERATING LEASE RIGHT OF USE ASSET (Details) | 6 Months Ended |
Apr. 30, 2022USD ($) | |
Lease | |
Initial recognition as of November 6, 2021 | $ 20,544 |
Add: New Lease | 6,443 |
Less: Termination of lease | (20,544) |
Balance | 6,443 |
Effect of translation exchange | (111) |
Accumulated amortization | (3,183) |
Balance as of April 30, 2022 | $ 3,149 |
SCHEDULE OF OPERATING LEASE LIA
SCHEDULE OF OPERATING LEASE LIABILITY (Details) - USD ($) | 6 Months Ended | |
Apr. 30, 2022 | Jul. 31, 2021 | |
Lease | ||
Initial recognition as of November 1, 2020 | $ 20,544 | |
Add: New operating lease liability | 6,443 | |
Less: Termination of lease | (20,544) | |
Effect of translation exchange | (111) | |
Less: gross repayment | (3,282) | |
Add: imputed interest | 99 | |
Balance as of April 30, 2022 | 3,149 | |
Lease liability | (3,149) | $ (10,319) |
Lease liability non current | $ 2,647 |
SCHEDULE OF MATURITIES OF OPERA
SCHEDULE OF MATURITIES OF OPERATING LEASE OBLIGATION (Details) | Apr. 30, 2022USD ($) |
Lease | |
July 31, 2022 (3 months) | $ 1,566 |
October 31, 2022 (3 months) | 1,583 |
Total | $ 3,149 |
SCHEDULE OF OTHER INFORMATION (
SCHEDULE OF OTHER INFORMATION (Details) - USD ($) | 9 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Lease | ||
Operating cash flow from operating lease | $ 5,704 | $ 23,173 |
Right-of-use assets obtained in exchange for operating lease liabilities | $ 3,149 | $ 15,450 |
Remaining lease term for operating lease (years) | 6 months | 1 year 6 months |
Weighted average discount rate for operating lease | 4.35% | 4.15% |
LEASE (Details Narrative)
LEASE (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Apr. 30, 2022 | Apr. 30, 2022 | Apr. 30, 2021 | Nov. 06, 2021 | Nov. 05, 2021 | Jul. 31, 2021 | Nov. 01, 2020 | |
Lease liability | $ 3,149 | $ 3,149 | $ 20,544 | ||||
Right-of-use asset | $ 12,966 | ||||||
Lease discounted rate | 4.35% | 4.35% | 4.15% | ||||
Amortization of operating lease right of use asset | $ 5,747 | $ 19,816 | |||||
Lease expenses | $ 1,583 | $ 5,864 | |||||
Accounting Standards Update 2016-02 [Member] | |||||||
Lease liability | $ 6,443 | $ 19,724 | |||||
Right-of-use asset | $ 6,443 | $ 19,724 | |||||
Lease discounted rate | 4.35% | 4.15% |
SCHEDULE OF PATENT AND TRADEMAR
SCHEDULE OF PATENT AND TRADEMARK (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Patent and trademark | [1] | $ 32,404 | $ 29,563 |
Accumulated amortization | 6,986 | 5,425 | |
Impairment | (25,421) | ||
Foreign currency translation adjustment | 3 | (22) | |
Total trademark | $ 24,116 | ||
[1] | The trademarks are held under the Company’s subsidiaries in Hong Kong and Shanghai, China. |
PATENT AND TRADEMARK (Details N
PATENT AND TRADEMARK (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended |
Apr. 30, 2022 | Apr. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization of intangible assets | $ 0 | $ 1,561 |
SCHEDULE OF PREPAYMENTS AND DEP
SCHEDULE OF PREPAYMENTS AND DEPOSITS (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 |
Prepayments And Deposits | ||
Deposits | $ 4,822 | $ 60,187 |
Prepayments | 41,791 | 41,501 |
Total prepayments and deposits | $ 46,613 | $ 101,688 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | May 07, 2019 | Jul. 31, 2018 | Jul. 26, 2018 | Jul. 25, 2018 | Jul. 11, 2018 | Jul. 10, 2018 | Jul. 09, 2018 | Jul. 07, 2018 | Jul. 06, 2018 | Jun. 04, 2018 | Jul. 31, 2019 | Dec. 13, 2018 | Apr. 30, 2022 | Jul. 31, 2021 |
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Common stock, shares issued | 59,434,838 | 59,434,838 | ||||||||||||
Common stock, shares outstanding | 59,434,838 | 59,434,838 | ||||||||||||
GreenPro Asia Strategic SPC [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Share issued price per shares | $ 0.0001 | |||||||||||||
Number of restricted common stock issued, value | $ 500 | |||||||||||||
GreenPro Venture Capital Limited [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Share issued price per shares | $ 0.0001 | |||||||||||||
Number of restricted common stock issued, value | $ 500 | |||||||||||||
Server Intl Co Ltd [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 11,000,000 | |||||||||||||
Share issued price per shares | $ 0.0001 | |||||||||||||
Number of restricted common stock issued, value | $ 3,600 | |||||||||||||
GreenPro Asia Strategic SPC [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 2,835,000 | |||||||||||||
GreenPro Venture Capital Limited [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 2,165,000 | |||||||||||||
Dezign Format Pte Ltd [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 2,000,000 | |||||||||||||
Share issued price per shares | $ 0.20 | |||||||||||||
Number of restricted common stock issued, value | $ 800,000 | |||||||||||||
Cheng Young-Chien [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 2,000,000 | |||||||||||||
Ms Niu Yen Yen [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 25,000,000 | 100,000 | ||||||||||||
Share issued price per shares | $ 0.0001 | $ 0.0001 | ||||||||||||
Number of restricted common stock issued, value | $ 10 | |||||||||||||
Ms Niu Yen Yen [Member] | Server Intl Co Ltd [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued, value | $ 3,600 | |||||||||||||
Chang Chun Ying [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 4,300,000 | |||||||||||||
Share issued price per shares | $ 0.0001 | |||||||||||||
Number of restricted common stock issued, value | $ 930 | |||||||||||||
Chang Su-Fen [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 5,000,000 | |||||||||||||
Share issued price per shares | $ 0.0001 | |||||||||||||
Number of restricted common stock issued, value | $ 930 | |||||||||||||
Three Non U S Residents [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 2,150,000 | |||||||||||||
Share issued price per shares | $ 0.0001 | |||||||||||||
Number of restricted common stock issued, value | $ 215 | |||||||||||||
Two Non U S Residents [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 710,000 | |||||||||||||
Share issued price per shares | $ 0.03 | |||||||||||||
Number of restricted common stock issued, value | $ 21,300 | |||||||||||||
Ten Non U S Residents [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 995,000 | |||||||||||||
Share issued price per shares | $ 0.03 | |||||||||||||
Number of restricted common stock issued, value | $ 29,850 | |||||||||||||
One Non U S Residents [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of restricted common stock issued | 250,000 | |||||||||||||
Share issued price per shares | $ 0.20 | |||||||||||||
Number of restricted common stock issued, value | $ 50,000 | |||||||||||||
Cheng Young-Chien [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Share issued price per shares | $ 0.20 | |||||||||||||
Number of restricted common stock issued, value | $ 800,000 | |||||||||||||
Eight Non U S Residents [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of shares transferred | 1,500,000 | |||||||||||||
Sixteen Non U S Residents [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Number of shares transferred | 1,557,800 | |||||||||||||
Fourty Five Accredited Investors [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Convertible promissory note issued on conversion | $ 779,125 | |||||||||||||
Conversion price per share | $ 1 | |||||||||||||
Convertible promissory note issued on conversion, shares | 779,125 | |||||||||||||
Thirty Six Non U S Residents [Member] | IPO [Member] | ||||||||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||||||||
Share issued price per shares | $ 1 | |||||||||||||
Number of common stock issued | 150,317 |
SCHEDULE OF INVENTORIES (Detail
SCHEDULE OF INVENTORIES (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Finished goods, at cost | $ 20,745 | $ 38,374 |
Total inventories | $ 20,745 | $ 38,374 |
SCHEDULE OF DUE FROM RELATED PA
SCHEDULE OF DUE FROM RELATED PARTY (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 | |
Total amount due from related party | $ 16,118 | $ 10,425 | |
Tien Mu International Co., Ltd [Member] | |||
Total amount due from related party | [1] | $ 16,118 | $ 10,425 |
[1] | Tien Mu International Co., Ltd is owned by Ms. Niu Yen-Yen, the Director and Chief Executive Officer of the Company. Tien Mu International Co., Ltd is an operating agent of the Company’s operation in Taiwan, which collects deposits from franchisees on behalf of the Company. |
SCHEDULE OF OTHER PAYABLES AND
SCHEDULE OF OTHER PAYABLES AND ACCRUED LIABILITIES (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 |
Payables and Accruals [Abstract] | ||
Accrued audit fees | $ 3,500 | $ 14,000 |
Accrued professional fees | 1,250 | 5,150 |
Other payables | 6,586 | 2,942 |
Total payables and accrued liabilities | $ 11,336 | $ 22,092 |
SCHEDULE OF DUE TO RELATED PART
SCHEDULE OF DUE TO RELATED PARTIES (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Total amounts due to related parties | $ 118,214 | $ 95,453 | |
Wu Chun Teh [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total amounts due to related parties | [1] | 41,238 | 42,177 |
Hsieh Chang Chung [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total amounts due to related parties | [2] | $ 76,976 | $ 53,276 |
[1] | Wu, Chun-Teh is a shareholder and was the staff of the Company, previously providing consultation services to the Company. He had paid company operation expenses such as renovation cost, rental and staff salaries on behalf of Company before the bank account of the Company’s Shanghai subsidiary in China could be established and used for daily operation. | ||
[2] | Hsieh, Chang-Chung is Chief Financial Officer (“Principal Financial Officer”, “Principal Accounting Officer”) of the Company, and the amount represents the salary expenses accrued. |
AMOUNT DUE TO RELATED PARTIES_2
AMOUNT DUE TO RELATED PARTIES (Details Narrative) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | ||
Amount due to related parties | $ 118,214 | $ 95,453 |
Two Related Parties [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Amount due to related parties | $ 118,214 |
SCHEDULE OF LOAN FROM DIRECTOR
SCHEDULE OF LOAN FROM DIRECTOR (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 |
Loan From Director | ||
Current | $ 142,938 | $ 138,443 |
Non-current | 119,715 | 136,193 |
Total loan from Director | $ 262,653 | $ 274,636 |
SCHEDULE OF LOAN FROM RELATED P
SCHEDULE OF LOAN FROM RELATED PARTY (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Loan from related party | $ 44,404 | $ 52,620 | |
Hong Ting Network Technology (Xiamen) Limited [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Loan from related party | [1] | $ 44,404 | $ 52,620 |
[1] | Hong Ting Network Technology (Xiamen) Limited is wholly-owned by Ms. Niu Yen-Yen, who is also the Director and Chief Executive Officer of the Company. The loan is unsecured, interest-free and repayable in May 31, 2020 and further extended to May 31, 2023 with a loan agreement entered on September 2, 2021. |
SCHEDULE OF LOAN FROM THIRD PAR
SCHEDULE OF LOAN FROM THIRD PARTY (Details) - USD ($) | Apr. 30, 2022 | Jul. 31, 2021 |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Loan from third party | $ 67,204 | $ 85,895 |
Shang Hai Shi Ba Enterprise Management Centre [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Loan from third party | $ 67,204 | $ 85,895 |
SCHEDULE OF LOSS BEFORE INCOME
SCHEDULE OF LOSS BEFORE INCOME TAX (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Local | $ (28,520) | $ (26,644) | ||
Loss before income tax | $ (185,192) | $ (68,203) | (306,006) | (305,970) |
SEYCHELLES | ||||
Foreign | (257) | |||
HONG KONG | ||||
Foreign | (92,293) | (58,517) | ||
CHINA | ||||
Foreign | $ (184,936) | $ (220,809) |
SCHEDULE OF PROVISION FOR INCOM
SCHEDULE OF PROVISION FOR INCOME TAXES (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Current: | ||||
- Local | ||||
- Foreign | ||||
Deferred: | ||||
- Local | ||||
- Foreign | ||||
Income tax expense |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | 9 Months Ended |
Apr. 30, 2022USD ($) | |
Operating Loss Carryforwards [Line Items] | |
Operating loss carryforwards | $ 415,428 |
Future taxable income | 80.00% |
Assets valuation | $ 332,342 |
HONG KONG | |
Operating Loss Carryforwards [Line Items] | |
Statutory income tax rate | 16.50% |
CHINA | |
Operating Loss Carryforwards [Line Items] | |
Statutory income tax rate | 25.00% |
SCHEDULES OF CONCENTRATION OF R
SCHEDULES OF CONCENTRATION OF RISK (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | |
Concentration Risk [Line Items] | ||||
Revenue | $ 570 | $ 5,500 | $ 39,357 | $ 46,576 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer A [Member] | ||||
Concentration Risk [Line Items] | ||||
Revenue | $ 37,508 | |||
Concentration credit risk percentage | 95.00% | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] | ||||
Concentration Risk [Line Items] | ||||
Revenue | $ 37,508 | |||
Concentration credit risk percentage | 95.00% | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member] | ||||
Concentration Risk [Line Items] | ||||
Account receivable | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member] | ||||
Concentration Risk [Line Items] | ||||
Account receivable |
CONCENTRATIONS OF RISK (Details
CONCENTRATIONS OF RISK (Details Narrative) | 9 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer [Member] | ||
Concentration Risk [Line Items] | ||
Concentration credit risk percentage | 10.00% | 10.00% |
SCHEDULE OF AGGREGATE MINIMAL R
SCHEDULE OF AGGREGATE MINIMAL RENT PAYMENTS (Details) | Apr. 30, 2022USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2022 | $ 1,566 |
2023 | 1,583 |
Total | $ 3,149 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Narrative) | Oct. 29, 2021 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Lease description | On October 29, 2021, the Company entered into a contract rental agreement to rent the office in Shanghai for a period of 1 years commencing November 6, 2021 |
Rental Agreement [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Rental agreement term | 1 year |
SCHEDULE OF OUTSTANDING PAYABLE
SCHEDULE OF OUTSTANDING PAYABLE TO RELATED PARTY (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Apr. 30, 2022 | Jul. 31, 2021 | |
Related Party Transaction [Line Items] | ||
Total | $ 32,437 | $ 58,760 |
Related Party A [Member] | ||
Related Party Transaction [Line Items] | ||
Professional fee | 8,137 | 26,460 |
Related Party B [Member] | ||
Related Party Transaction [Line Items] | ||
Consultation fee | 24,300 | 21,800 |
Related Party C [Member] | ||
Related Party Transaction [Line Items] | ||
Consultation fee | $ 10,500 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended |
Apr. 30, 2022 | Jul. 31, 2021 | |
Related Party A [Member] | ||
Related Party Transaction [Line Items] | ||
Professional Fees | $ 8,137 | $ 26,460 |
Related Party B [Member] | ||
Related Party Transaction [Line Items] | ||
Professional fee | $ 24,300 | $ 21,800 |
SCHEDULE OF SEGMENT REPORTING I
SCHEDULE OF SEGMENT REPORTING INFORMATION (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Apr. 30, 2022 | Apr. 30, 2021 | Apr. 30, 2022 | Apr. 30, 2021 | Jul. 31, 2021 | |
Segment Reporting Information [Line Items] | |||||
Revenue | $ 570 | $ 5,500 | $ 39,357 | $ 46,576 | |
Cost of revenue | (232) | (51) | (17,628) | (9,607) | |
Depreciation and amortization | 103,060 | 143,867 | |||
Net loss before taxation | (185,192) | (68,203) | (306,006) | (305,970) | |
Total assets | 89,546 | 89,546 | $ 427,469 | ||
Corporate Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 39,357 | 46,576 | |||
Cost of revenue | (17,628) | (9,607) | |||
Depreciation and amortization | (104,380) | (143,867) | |||
Net loss before taxation | (306,006) | (305,970) | |||
Total assets | 89,546 | 456,513 | 89,546 | 456,513 | |
Corporate Segment [Member] | NV | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | |||||
Cost of revenue | |||||
Depreciation and amortization | |||||
Net loss before taxation | (28,520) | (26,644) | |||
Total assets | 1,480 | 1,480 | |||
Corporate Segment [Member] | SEYCHELLES | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | |||||
Cost of revenue | |||||
Depreciation and amortization | |||||
Net loss before taxation | (257) | ||||
Total assets | 1 | 1 | 1 | 1 | |
Corporate Segment [Member] | HONG KONG | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 196 | ||||
Cost of revenue | |||||
Depreciation and amortization | (13,670) | (16,875) | |||
Net loss before taxation | (92,293) | (58,517) | |||
Total assets | 21,933 | 141,511 | 21,933 | 141,511 | |
Corporate Segment [Member] | CHINA | |||||
Segment Reporting Information [Line Items] | |||||
Revenue | 39,357 | 46,380 | |||
Cost of revenue | (17,628) | (9,607) | |||
Depreciation and amortization | (90,710) | (126,992) | |||
Net loss before taxation | (184,936) | (220,809) | |||
Total assets | $ 66,132 | $ 315,002 | $ 66,132 | $ 315,002 |