Cover
Cover - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Sep. 21, 2022 | |
Cover [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Documen Annual Report | true | |
Document Transition Report | false | |
Document Period End Date | Jul. 31, 2022 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --07-31 | |
File Number | 333-228803 | |
Registrant Name | BIGEON CORP. | |
Entity Central Index Key | 0001753391 | |
Tax Identification Number | 38-4086827 | |
Incorporation State Country Code | NV | |
Address Line1 | No.32, Huili Township, Jiaocheng County | |
Address City | Lvliang | |
Address Country | CN | |
Address Postal Zip Code | 030500 | |
City Area Code | 139 | |
Local Phone Number | 10972765 | |
WellKnownSeasonedIssuer | No | |
VoluntaryFilers | No | |
Current Reporting Status | Yes | |
Interactive Data Current | No | |
Filer Category | Non-accelerated Filer | |
Small Business | true | |
Emerging Growth Company | true | |
extended transition period | false | |
Shell Company | true | |
Public Float | $ 0 | |
Common Stock Shares Outstanding | 4,381,550 | |
Auditor Firm Id | 6258 | |
Auditor Name | Mac Accounting Group, LLP | |
Auditor Location | Midvale, Utah |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jul. 31, 2022 | Jul. 31, 2021 |
Current Assets | ||
Cash | $ 1,889 | $ 124 |
Prepaid Rent | 72 | 104 |
Prepaid Expenses | 621 | 621 |
Total Current Assets | 2,582 | 849 |
Intangible Assets, Net | 21,084 | |
TOTAL ASSETS | 23,666 | 849 |
Current Liabilities | ||
Accounts Payable | 5,990 | |
Payroll Liabilities | 68,400 | 22,800 |
Related Party Payable | 71,724 | 36,794 |
Total Current Liabilities | 146,114 | 59,594 |
Total Liabilities | 146,114 | 59,594 |
Stockholders’ Deficit | ||
Common Stock, $0.001 par value 75,000,000 authorized, 4,381,550 shares issued and outstanding as of July 31, 2022 and 2021 | 4,381 | 4,381 |
Additional Paid in Capital | 16,750 | 16,750 |
Accumulated deficit | (143,579) | (79,876) |
Total Stockholders’ Deficit | (122,448) | (58,745) |
TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT | $ 23,666 | $ 849 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Statement [Abstract] | ||
REVENUE | ||
EXPENSES | ||
General and Administrative Costs | 45,670 | 22,934 |
Amortization Expense | 900 | |
Professional Fees | 16,820 | 22,764 |
Rent Expense | 313 | 355 |
Total expenses | 63,703 | 46,053 |
Income (Loss) from Operations | (63,703) | (46,053) |
Income Tax Expense | ||
NET INCOME (LOSS) AFTER TAX | $ (63,703) | $ (46,053) |
Basic and Diluted Net Loss per Common Share | $ 0.01 | $ 0.01 |
Weighted-Average Number of Common Shares Outstanding – Basic and Diluted | 4,381,550 | 4,381,550 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance, shares | 4,381,550 | |||
Beginning balance, value at Jul. 31, 2020 | $ 4,381 | $ 16,750 | $ (33,823) | $ (12,692) |
Net loss | (46,053) | (46,053) | ||
Ending balance, value at Jul. 31, 2021 | 4,381 | 16,750 | (79,876) | (58,745) |
Balance, value | 4,381,550 | |||
Net loss | (63,703) | (63,703) | ||
Ending balance, value at Jul. 31, 2022 | $ 4,381 | $ 16,750 | $ (143,579) | (122,448) |
Balance, value | $ 4,381,550 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ (63,703) | $ (46,053) |
Adjustments to reconcile Net Income to net cash provided by operations: | ||
Amortization Expenses | 900 | |
Prepaid Rent | 32 | 117 |
Payroll Liabilities | 45,600 | 22,800 |
Accounts Payable | 5,990 | |
Net cash used in Operating Activities | (11,181) | (23,136) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash paid for intangible assets | (21,984) | |
Net cash used in Investing Activities | (21,984) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Related Party Payable | 34,930 | 21,650 |
Net cash provided by Financing Activities | 34,930 | 21,650 |
Net cash increase for period | 1,765 | (1,486) |
Cash at beginning of period | 124 | 1,610 |
Cash at end of period | 1,889 | 124 |
Cash paid during the period: | ||
Interest paid | ||
Income taxes paid |
ORGANIZATION AND OPERATIONS
ORGANIZATION AND OPERATIONS | 12 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND OPERATIONS | NOTE 1 - ORGANIZATION AND OPERATIONS Bigeon (“Company”) was incorporated on June 19, 2018 under the laws of Nevada. We are developing a new kind of messenger application. The product of the Company (“the App”) is intended to provide an entirely new way of sharing information. The App enables a user to draw a picture or a writing instead of typing the whole message. Our intended users will be the people whose jobs are connected with drawing and creating graphic animation. Bigeon’s product will be an appropriate tool to make short sketches on the go and share them with others. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Management of the Company is responsible for the selection and use of appropriate accounting policies and the appropriateness of accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Company’s financial condition and results and require management’s most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Company’s significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles. Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is July 31. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. The cash equivalents as of July 31, 2022 and 2021 were $0. 15 Related Parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the related parties include (a) affiliates of the Company; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. Net Income (Loss) per Common Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants. There were no potentially dilutive common shares outstanding as of July 31, 2022 and July 31, 2021. Intangible Assets The Company follows the provisions of ASC 985, Software, which requires that all costs relating to the purchase or internal development and production of software products to be sold, leased or otherwise marketed, be expensed in the period incurred unless the requirements for technological feasibility have been established. The Company amortizes these costs using the straight-line method over the remaining estimated economic life of the product. During the year ended July 31, 2022, the Company acquired software for $21,984, recognized $900 in amortization expense and accumulated amortization, thus reported intangible assets with a net carrying amount of $21,084 on the balance sheet. The Company expects to recognize amortization expense of $4,397 annually for the next four fiscal years and $3,496 of amortization expense in the fiscal year ending July 31, 2027. Software Costs Software costs are accounted for in accordance with FASB ASC 350-50, Website Development Costs. For intangible assets acquired either individually or as part of a group of assets (in either an asset acquisition, a business combination, or an acquisition by a not-for-profit entity), all of the following information shall be disclosed in the notes to financial statements in the period of acquisition: · The total amount assigned and the amount assigned to any major intangible asset class · The amount of any significant residual value, in total and by major intangible asset class · The weighted-average amortization period, in total and by major intangible asset class. 16 The following information shall be disclosed in the financial statements or the notes to financial statements for each period for which a statement of financial position is presented: · The gross carrying amount and accumulated amortization, in total and by major intangible asset class · The aggregate amortization expense for the period · The estimated aggregate amortization expense for each of the five succeeding fiscal years. Recent Accounting Pronouncements The Company’s management has evaluated all the recently issued, but not yet effective, accounting standards that have been issued or proposed by the FASB or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position and results of operations. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 – GOING CONCERN The financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the financial statements, the Company had no revenues during the years ended July 31, 2022, and 2021, has reoccurring net losses, and is showing total liabilities in excess of total assets. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is attempting to commence full-scale operations and generate sufficient revenue, however the Company’s cash position may not be sufficient to support the Company’s daily operations long-term. Management intends to finance operating costs with loans from director. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 12 Months Ended |
Jul. 31, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | NOTE 4 – STOCKHOLDERS’ EQUITY Upon formation, the total number of shares of all classes of stock which the Company is authorized to issue is seventy-five million (75,000,000) shares of Common Stock, par value $0.001 per share. During the years ended July 31, 2022 and 2021, the Company issued no shares of common stock. There were 4,381,550 17 |
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS | 12 Months Ended |
Jul. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED-PARTY TRANSACTIONS | NOTE 5 – RELATED-PARTY TRANSACTIONS The former President of the Company, Olegas Tunevicius, is the only related party with whom the Company had transactions with during the year ended July 31, 2022. During the year ended July 31, 2022, Mr. Tunevicius contributed $34,930 in cash to assist in paying for operating expenses on behalf of the Company. The amounts due to the related party are unsecured and non-interest bearing with no set terms of repayment and were $ 71,724 36,794 |
INCOME TAX PROVISION
INCOME TAX PROVISION | 12 Months Ended |
Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAX PROVISION | NOTE 6 – INCOME TAX PROVISION Deferred Tax Assets As of July 31, 2022, the Company had net operating loss (“NOL”) carry–forwards for Federal income tax purposes of $143,579 that may be offset against future taxable income through 2040. No tax benefit has been recorded with respect to these net operating loss carry-forwards in the accompanying consolidated financial statements as the management of the Company believes that the realization of the Company’s net deferred tax assets of approximately $30,152 was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by the full valuation allowance. Deferred tax assets consist primarily of the tax effect of NOL carry-forwards which was used to offset tax payable from prior year’s operations. The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realization. The current valuation of tax allowance is not applicable as of July 31, 2022. Components of deferred tax assets For the Reporting Period Ended July 31, 2022 For the Reporting Period Ended July 31, 2021 Net Deferred Tax Asset Non-Current: Net Operating Loss Carry-Forward $ 143,579 $ 79,876 Effective tax rate 21 % 21 % Expected Income Tax Benefit from NOL Carry-Forward 30,152 16,774 Less: Valuation Allowance (30,152) (16,774) Deferred Tax Asset, Net of Valuation Allowance $ - $ - 18 The actual tax benefit For the Reporting Period Ended July 31, 2022 For the Reporting Period Ended July 31, 2021 Computed “expected” tax expense (benefit) $ (13,378) $ (9,671) Change in valuation allowance $ 13,378 $ 9,671 Actual tax expense (benefit) $ - $ - |
FOREIGN CURRENCY
FOREIGN CURRENCY | 12 Months Ended |
Jul. 31, 2022 | |
Foreign Currency [Abstract] | |
FOREIGN CURRENCY | NOTE 7 – FOREIGN CURRENCY As a result of the Company’s management operating in Europe, some of the Company’s transactions occurred in Euros. However, due to the little variance in the foreign currency translation rate in the period under audit, there were no gains or losses recorded to either other comprehensive income or net income. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Jul. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENTS The Company has evaluated all events that occur after the balance sheet date through the date when the financial statements were available to be issued to determine if they must be reported. Management of the Company determined that there are no material subsequent events to be disclosed other than those described below. On August 31, 2022, the former President of the Company, Olegas Tunevicius, sold all of his 3,500,000 common shares of Bigeon to Shanxi Qiansui Tancheng Culture Media Co., Ltd., a privately-owned Chinese company, thus constituting a change of control of the Company. As part of the change of control, Olegas Tunevicius resigned as the Company’s sole officer and director, and Yu Yang became the Company’s sole officer and director. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is July 31. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash Equivalents | Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. The cash equivalents as of July 31, 2022 and 2021 were $0. 15 |
Related Parties | Related Parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the related parties include (a) affiliates of the Company; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. |
Net Income (Loss) per Common Share | Net Income (Loss) per Common Share Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common shares issuable through contingent share arrangements, stock options and warrants. There were no potentially dilutive common shares outstanding as of July 31, 2022 and July 31, 2021. |
Intangible Assets | Intangible Assets The Company follows the provisions of ASC 985, Software, which requires that all costs relating to the purchase or internal development and production of software products to be sold, leased or otherwise marketed, be expensed in the period incurred unless the requirements for technological feasibility have been established. The Company amortizes these costs using the straight-line method over the remaining estimated economic life of the product. During the year ended July 31, 2022, the Company acquired software for $21,984, recognized $900 in amortization expense and accumulated amortization, thus reported intangible assets with a net carrying amount of $21,084 on the balance sheet. The Company expects to recognize amortization expense of $4,397 annually for the next four fiscal years and $3,496 of amortization expense in the fiscal year ending July 31, 2027. |
Software Costs | Software Costs Software costs are accounted for in accordance with FASB ASC 350-50, Website Development Costs. For intangible assets acquired either individually or as part of a group of assets (in either an asset acquisition, a business combination, or an acquisition by a not-for-profit entity), all of the following information shall be disclosed in the notes to financial statements in the period of acquisition: · The total amount assigned and the amount assigned to any major intangible asset class · The amount of any significant residual value, in total and by major intangible asset class · The weighted-average amortization period, in total and by major intangible asset class. 16 The following information shall be disclosed in the financial statements or the notes to financial statements for each period for which a statement of financial position is presented: · The gross carrying amount and accumulated amortization, in total and by major intangible asset class · The aggregate amortization expense for the period · The estimated aggregate amortization expense for each of the five succeeding fiscal years. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
INCOME TAX PROVISION (Tables)
INCOME TAX PROVISION (Tables) | 12 Months Ended |
Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
actual tax benefit | Components of deferred tax assets For the Reporting Period Ended July 31, 2022 For the Reporting Period Ended July 31, 2021 Net Deferred Tax Asset Non-Current: Net Operating Loss Carry-Forward $ 143,579 $ 79,876 Effective tax rate 21 % 21 % Expected Income Tax Benefit from NOL Carry-Forward 30,152 16,774 Less: Valuation Allowance (30,152) (16,774) Deferred Tax Asset, Net of Valuation Allowance $ - $ - 18 The actual tax benefit For the Reporting Period Ended July 31, 2022 For the Reporting Period Ended July 31, 2021 Computed “expected” tax expense (benefit) $ (13,378) $ (9,671) Change in valuation allowance $ 13,378 $ 9,671 Actual tax expense (benefit) $ - $ - |
actual tax benefit | The actual tax benefit For the Reporting Period Ended July 31, 2022 For the Reporting Period Ended July 31, 2021 Computed “expected” tax expense (benefit) $ (13,378) $ (9,671) Change in valuation allowance $ 13,378 $ 9,671 Actual tax expense (benefit) $ - $ - |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - shares | Jul. 31, 2022 | Jul. 31, 2021 |
Equity [Abstract] | ||
Common Stock Shares Issued and Outstanding | 4,381,550 | 4,381,550 |
RELATED-PARTY TRANSACTIONS (Det
RELATED-PARTY TRANSACTIONS (Details Narrative) - USD ($) | Jul. 31, 2022 | Jul. 31, 2021 |
Related Party Transactions [Abstract] | ||
due to the related party | $ 71,724 | $ 36,794 |
actual tax benefit (Details)
actual tax benefit (Details) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Net Deferred Tax Asset Non-Current: | ||
Net Operating Loss Carry-Forward | $ 143,579 | $ 79,876 |
Expected Income Tax Benefit from NOL Carry-Forward | 30,152 | 16,774 |
Less: Valuation Allowance | (30,152) | (16,774) |
Computed “expected” tax expense (benefit) | (13,378) | (9,671) |
Change in valuation allowance | 13,378 | 9,671 |
Actual tax expense (benefit) |