Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Oct. 31, 2019 | Jan. 27, 2020 | Apr. 30, 2019 | |
Document And Entity Information | |||
Entity Registrant Name | Kaival Brands Innovations Group, Inc. | ||
Entity Central Index Key | 0001762239 | ||
Document Type | 10-K | ||
Document Period End Date | Oct. 31, 2019 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --10-31 | ||
Is Entity a Well-known Seasoned Issuer? | No | ||
Is Entity a Voluntary Filer? | No | ||
Is Entity's Reporting Status Current? | Yes | ||
Entity Shell Company? | true | ||
Is Entity Emerging Growth Company? | true | ||
Elected Not To Use the Extended Transition Period | false | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Public Float | $ 1,025,468 | ||
Entity Common Stock, Shares Outstanding | 572,364,574 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2019 | ||
Interactive Data Current | Yes | ||
Incorporation State | DE | ||
File Number | 000-56016 |
Balance Sheets
Balance Sheets - USD ($) | Oct. 31, 2019 | Oct. 31, 2018 |
Statement of Financial Position [Abstract] | ||
TOTAL ASSETS | $ 0 | $ 0 |
CURRENT LIABILITIES: | ||
Accrued expenses | 44,886 | 3,000 |
Total current liabilities | 44,886 | 3,000 |
TOTAL LIABILITIES | 44,886 | 3,000 |
STOCKHOLDERS' DEFICIT: | ||
Preferred stock ($.001 par value, 5,000,000 shares authorized, none issued and outstanding as of October 31, 2019 and 2018) | ||
Common stock ($.001 par value, 1,000,000,000 shares authorized, 572,364,574 issued and outstanding as of October 31, 2019 and 2018) | 572,365 | 572,365 |
Additional paid in capital | (544,026) | (570,989) |
Accumulated deficit | (73,225) | (4,376) |
Total Stockholders' deficit | (44,886) | (3,000) |
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $ 0 | $ 0 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Oct. 31, 2019 | Oct. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ .001 | $ .001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | ||
Preferred stock, shares outsanding | ||
Common stock, par value | $ .001 | $ .001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 572,364,574 | 572,364,574 |
Common stock, shares outstanding | 572,364,574 | 572,364,574 |
Statement of Operations
Statement of Operations - USD ($) | 12 Months Ended | |
Oct. 31, 2019 | Oct. 31, 2018 | |
Operating expenses | ||
General and administrative | $ 68,849 | $ 4,376 |
Total operating expenses | 68,849 | 4,376 |
Net loss | $ (68,849) | $ (4,376) |
Basic and diluted loss per share | $ 0 | $ 0 |
Weighted average number of common shares outstanding - Basic and Diluted | 572,364,574 | 155,129,844 |
Statement of Changes in Shareho
Statement of Changes in Shareholders Deficit - USD ($) | Preferred Stock Series A | Preferred Stock Series B | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning Balance at Oct. 31, 2017 | ||||||
Beginning Balance Shares at Oct. 31, 2017 | ||||||
Shares issued in reorganization (value at par) | $ 1,000 | $ 72 | $ 66,398 | $ (67,470) | ||
Shares issued in reorganization (shares) | 1,000,000 | 71,700 | 66,397,574 | |||
Issuance of preferred and common shares for services (value at par) | $ 400 | $ 500,000 | $ (500,400) | |||
Issuance of preferred and common shares for services (shares) | 400,000 | 500,000,000 | ||||
Conversion of preferred Series A & B into common shares (value at par) | $ (1,000) | $ (472) | $ 5,967 | $ (4,495) | ||
Conversion of preferred Series A & B into common shares (shares) | (1,000,000) | (471,700) | 5,967,000 | |||
Expenses paid on behalf of the Company and contributed to capital | $ 1,376 | $ 1,376 | ||||
Net Loss | (4,376) | (4,376) | ||||
Ending Balance at Oct. 31, 2018 | $ 572,365 | $ (570,989) | $ (4,376) | $ (3,000) | ||
Ending Balance (Shares) at Oct. 31, 2018 | 572,364,574 | |||||
Expenses paid on behalf of the Company and contributed to capital | $ 26,963 | $ 26,963 | ||||
Net Loss | (68,849) | (68,849) | ||||
Ending Balance at Oct. 31, 2019 | $ 572,365 | $ (544,026) | $ (73,225) | $ (44,886) | ||
Ending Balance (Shares) at Oct. 31, 2019 | 572,364,574 |
Statement of Cash Flows
Statement of Cash Flows - USD ($) | 12 Months Ended | |
Oct. 31, 2019 | Oct. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (68,849) | $ (4,376) |
Adjustment to reconcile net loss to net cash used in operating activities: | ||
Expenses contributed to capital | 26,963 | 1,376 |
Changes in current assets and liabilities: | ||
Accrued expenses | 41,886 | 3,000 |
Net cash used in operating activities | ||
Net change in cash | ||
Beginning cash balance | ||
Ending cash balance | ||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Interest paid | ||
Income taxes paid | ||
NON-CASH FINANCING TRANSACTIONS: | ||
Preferred Series A & B and common shares issued in reorganization | 67,470 | |
Preferred Series B and common shares issued for services | 500,400 | |
Conversion of Preferred Series A & B into common shares | $ 4,495 |
Note 1 - Organization, Descript
Note 1 - Organization, Description of Business and Basis of Presentation | 12 Months Ended |
Oct. 31, 2019 | |
Accounting Policies [Abstract] | |
Organization, Description of Business and Basis of Presentation | Note 1 – Organization, Description of Business and Basis of Presentation Kaival Brands, Inc. (we, us, our, the “Company,” or the “Registrant”), formerly known as Quick Start Holdings, Inc., was incorporated on September 4, 2018 in the State of Delaware. USSE Corp. and USSE Delaware Merger USSE Corp., a Nevada Corporation (“USSE Nevada”), formerly known as Quick Start Holdings, Inc., was incorporated with the Nevada Secretary of State on July 8, 1998 under the original name C&A Restaurants, Inc. (“C&A Restaurants”). On June 15, 2009, C&A Restaurants changed its name to USSE Corp. Effective September 19, 2018, USSE Nevada re-domiciled from Nevada to Delaware pursuant to a merger of USSE Nevada with and into USSE Delaware, Inc., a Delaware corporation (“USSE Delaware”), with USSE Delaware as the surviving entity (the “Re-domestication Merger”). Each share of USSE Nevada’s common stock issued and outstanding immediately prior to the effective date of the Re-domestication Merger was automatically converted into one fully paid and nonassessable share of USSE Delaware. Immediately following the Re-domestication Merger, USSE Delaware was authorized to issue up to 1,005,000,000 shares, which consisted of: (i) 1,000,000,000 shares of common stock, par value $0.001 per share, of which 66,397,574 shares were issued and outstanding at such date; (ii) 5,000,000 shares of preferred stock, par value $0.001 per share, of which (a) 1,000,000 shares were designated as Convertible Series A, all of which were issued and outstanding at that date; and (b) 500,000 shares were designated as Convertible Series B, of which 71,700 Convertible Series B preferred shares were issued and outstanding at that date. Holding Company Reorganization On September 4, 2018, USSE Delaware acquired 1,000 shares of common stock of the Company, which represented 100% of the Company’s then-outstanding shares of common stock, for no consideration, resulting in the Company becoming a wholly-owned subsidiary of USSE Delaware. Also, immediately prior to the Holding Company Reorganization (as defined below), USSE Merger Sub, Inc., a Delaware corporation (“USSE Merger Sub”), was the Company’s wholly-owned subsidiary. On September 19, 2018 (the “Effective Time”), and in accordance with the provisions set forth in Section 251(g) of the Delaware General Corporation Law (“DGCL”), USSE Merger Sub, an indirect wholly-owned subsidiary of USSE Delaware and the Company’s direct wholly-owned subsidiary merged with and into USSE Delaware, the Company’s then parent (the “Holding Company Reorganization”). USSE Delaware was the surviving corporation and the Company’s wholly-owned subsidiary. USSE Delaware also changed its name to USSE Corp. following the Holding Company Reorganization. Upon completion of the Holding Company Reorganization, by virtue of the merger, and without any action on the part of the holder thereof, each share of USSE Delaware’s common stock issued and outstanding immediately prior to the Effective Time of the Holding Company Reorganization was automatically converted into one validly issued, fully paid, and non-assessable share of the Company’s common stock. Additionally, each share of USSE Delaware’s preferred stock issued and outstanding immediately prior to the Effective Time was converted into one validly issued, fully paid, and non-assessable share of the Company’s preferred stock, having the same designations, rights, powers, and preferences, and the qualifications, limitations, and restrictions thereof, as the corresponding share of USSE Delaware’s preferred stock. Each share of the Company’s common stock issued and outstanding and held by USSE Delaware immediately prior to the Effective Time was cancelled. This resulted in the Company being authorized to issue up to 1,005,000,000 shares, which consisted of: (i) 1,000,000,000 shares of common stock, par value $0.001 per share, of which 66,397,574 shares were issued and outstanding; (ii) 5,000,000 shares of preferred stock, par value $0.001 per share, of which (a) 1,000,000 shares were designated as Convertible Series A, all of which were issued and outstanding; and (b) 500,000 shares were designated as Convertible Series B, of which 71,700 shares of Convertible Series B preferred stock were issued and outstanding. Post-Holding Company Reorganization On October 19, 2018, the Company issued 500,000,000 shares of restricted common stock and 400,000 shares of Convertible Series B Preferred Stock to GMRZ Holdings LLC, a Nevada limited liability company (“GRMZ”) for services rendered to the Company. Commensurate with the filing of the Company’s Amended and Restated Certificate of Incorporation with the Delaware Secretary of State on October 22, 2018, every issued and outstanding share of Convertible Series A preferred stock was converted into 1.25 shares of common stock with shareholders’ economic rights preserved. Additionally, at the same time, every share of Convertible Series B preferred stock, issued and outstanding was converted into ten shares of common stock with stockholders’ economic rights adversely affected in the conversion. Immediately following the conversion of the aforementioned shares, and upon filing of the Amended and Restated Certificate of Incorporation, the authorized and unissued shares of Convertible Series A and Convertible Series B preferred stock were cancelled. As of October 22, 2018, Convertible Series A and Series B preferred stock were removed from the status of authorized but unissued preferred stock. On February 6, 2019, the Company entered into a non-binding Share Purchase Agreement (the “Agreement”), by and among the Company, GMRZ, and Kaival Holdings, LLC (formerly known as Kaival Brands Innovations Group, LLC), a Delaware limited liability company (formerly known as Kaival Brands Innovations Group, LLC) (“KH”), pursuant to which, on February 20, 2019, GMRZ sold 504,000,000 shares of the Company’s restricted common stock, representing approximately 88.06 percent of the Company’s issued and outstanding shares of common stock, to KH, and KH paid GMRZ consideration in the amount set forth in the Agreement (the “Purchase Price”). The consummation of the transactions contemplated by the Agreement resulted in a change in control of the Company, with KH becoming the Company’s largest controlling stockholder. The sole members of KH are Nirajkumar Patel and Eric Mosser. The Purchase Price was paid with personal funds of the members of KH. Effective July 12, 2019, we changed our corporate name from Quick Start Holdings, Inc. to Kaival Brands Innovations Group, Inc. The name change was effected through a parent/subsidiary short-form merger of Kaival Brands Innovations Group, Inc., our wholly-owned Delaware subsidiary formed solely for the purpose of the name change, with and into us. We were the surviving entity. On the effective date of the merger, our name was changed to “Kaival Brands Innovations Group, Inc.” and our Amended and Restated Certificate of Incorporation, as amended (the “Charter”), was further amended to reflect our new legal name. There were no other changes to our Charter. Currently, we have 572,364,574 shares of common stock issued and outstanding and no shares of preferred stock issued and outstanding. KH, which is owned and controlled by Nirajkumar Patel and Eric Mosser, is our controlling stockholder, owning 504,000,000 shares of our restricted common stock. As of October 31, 2019, the Company had not yet commenced any business operations. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Oct. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | Note 2 – Summary of Significant Accounting Policies Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents at October 31, 2019 and 2018 were $0. Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of October 31, 2019 and 2018 and, thus, anti-dilution issues are not applicable. Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of October 31, 2019. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses. Related Parties The Company follows ASC 850, Related Party Disclosures, Share-Based Compensation ASC 718, “ Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “ Equity – Based Payments to Non-Employees.” The Company had no stock-based compensation plans as of October 31, 2019 and 2018. The Company’s stock-based compensation for the years ended October 31, 2019 and 2018 were $0. Recently Issued Accounting Pronouncements We have reviewed the FASB issued Accounting Standards Update accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration. |
Note 3 - Going Concern
Note 3 - Going Concern | 12 Months Ended |
Oct. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 3 – Going Concern The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these financial statements. These adverse conditions are negative financial trends, specifically operating loss, working capital deficiency, and other adverse key financial ratios. The Company has not established any source of revenue to cover its operating costs. Management plans to fund operating expenses with related party contributions to capital. There is no assurance that management's plan will be successful. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern. |
Note 4 - Income Taxes
Note 4 - Income Taxes | 12 Months Ended |
Oct. 31, 2019 | |
Notes to Financial Statements | |
Income Taxes | Note 4 – Income Taxes Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has a net carryforward operating loss of $73,225, which starts to expire in 2038. The Company adopted ASC 740, “ Accounting for Income Taxes The U.S. Tax Cuts and Jobs Act of 2017 (the “2017 Act”) reduced the corporate tax rate from 34% to 21% for tax years beginning after December 31, 2017. For net operating losses (“NOLs”) arising after December 31, 2017, the 2017 Act limits a taxpayer’s ability to utilize NOL carryforwards to 80% of taxable income. In addition, NOLs arising after 2017 can be carried forward indefinitely, but carryback is generally prohibited. NOLs generated in tax years beginning before January 1, 2018 will not be subject to the taxable income limitation. The 2017 Act would generally eliminate the carryback of all NOLs arising in a tax year ending after 2017 and, instead, would permit all such NOLs to be carried forward indefinitely. Significant components of the Company’s deferred tax assets and liabilities as of October 31, 2019 and 2018 after applying enacted corporate income tax rates, is net operating loss carryforward of $15,377 and $919, and a valuation allowance of $15,377 and $919, respectively, which is a total deferred tax asset of $0. The Company’s tax returns for 2018 and 2019 remain open to examination. October 31, 2019 October 31, 2018 Deferred tax asset, generated from NOL at statutory rates $ 15,377 $ 919 Valuation allowance $ (15,377 ) (919) $ - $ - The reconciliation of the effective income tax rate to the federal statutory rate is as follows: Federal income tax rate 21.0 % Increase in valuation allowance (21.0) % Effective income tax rate 0.0 % |
Note 5 - Commitments and Contin
Note 5 - Commitments and Contingencies | 12 Months Ended |
Oct. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 5 – Commitments and Contingencies The Company follows ASC 450-20, Los Contingencies, |
Note 6 - Stockholders Deficit
Note 6 - Stockholders Deficit | 12 Months Ended |
Oct. 31, 2019 | |
Equity [Abstract] | |
Stockholder Equity | Note 6 – Stockholder Equity Additional Paid-In Capital The Company’s Chief Executive Officer, Mr. Nirajkumar Patel, paid expenses on behalf of the Company totaling $6,000 during the year ended October 31, 2019, which is considered a contribution to the Company with no expectation of repayment and is recorded as additional paid-in capital. The Company’s Chief Operating Officer, Mr. Eric Mosser, paid expenses on behalf of the Company totaling $13,628 during the year ended October 31, 2019, which is considered a contribution to the Company with no expectation of repayment and is recorded as additional paid-in capital. The Company’s former officer and director, Paul Moody, paid expenses on behalf of the Company totaling $7,335 during the year ended October 31, 2019, which is considered a contribution to the Company with no expectation of repayment and is recorded as additional paid-in capital. The Company’s former officer and director, Paul Moody, paid expenses on behalf of the Company totaling $1,376 during the period from September 4, 2018 (inception) to October 31, 2018, which is considered a contribution to the Company with no expectation of repayment and is recorded as additional paid-in capital. |
Note 7 - Related-Party Transact
Note 7 - Related-Party Transactions | 12 Months Ended |
Oct. 31, 2019 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | Note 7 – Related-Party Transactions Office Space We utilize the home office space and equipment of our management at no cost. |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 12 Months Ended |
Oct. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 8 – Subsequent Events The Company’s Chief Executive Officer and Chief Operating Officer paid expenses on behalf of the Company totaling $15,957 and $10,200, respectively. These payments are considered to be contributions to the Company with no expectation of repayment. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Oct. 31, 2019 | |
Significant Accounting Policies | |
Basis of Presentation | Basis of Presentation This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents at October 31, 2019 and 2018 were $0. |
Income Taxes | Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes |
Basic Earnings (Loss) Per Share | Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share The Company does not have any potentially dilutive instruments as of October 31, 2019 and 2018 and, thus, anti-dilution issues are not applicable. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. ASC 820, Fair Value Measurements and Disclosures - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of October 31, 2019. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses. |
Related Parties | Related Parties The Company follows ASC 850, Related Party Disclosures, |
Share-Based Compensation | Share-Based Compensation ASC 718, “ Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “ Equity – Based Payments to Non-Employees.” The Company had no stock-based compensation plans as of October 31, 2019 and 2018. The Company’s stock-based compensation for the years ended October 31, 2019 and 2018 were $0. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements We have reviewed the FASB issued Accounting Standards Update accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. The Company has carefully considered the new pronouncements that alter previous generally accepted accounting principles and does not believe that any new or modified principles will have a material impact on the corporation’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of our financial management and certain standards are under consideration. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Notes to Financial Statements | |
Income Taxes (Tables) | Significant components of the Company’s deferred tax assets and liabilities as of October 31, 2019 and 2018 after applying enacted corporate income tax rates, is net operating loss carryforward of $15,377 and $919, and a valuation allowance of $15,377 and $919, respectively, which is a total deferred tax asset of $0. The Company’s tax returns for 2018 and 2019 remain open to examination. October 31, 2019 October 31, 2018 Deferred tax asset, generated from NOL at statutory rates $ 15,377 $ 919 Valuation allowance $ (15,377 ) (919) $ - $ - The reconciliation of the effective income tax rate to the federal statutory rate is as follows: Federal income tax rate 21.0 % Increase in valuation allowance (21.0) % Effective income tax rate 0.0 % |
Organization, Description of Bu
Organization, Description of Business and Basis of Presentation (Details) - $ / shares | Feb. 06, 2019 | Sep. 04, 2018 | Oct. 19, 2018 | Oct. 31, 2019 | Oct. 31, 2018 | Sep. 19, 2018 |
Common stock, par value | $ .001 | $ .001 | ||||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | ||||
Preferred stock, par value | $ .001 | $ .001 | ||||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | ||||
Preferred stock, shares issued | ||||||
Preferred stock, shares outstanding | ||||||
Common stock acquisition | 1,000 | |||||
Percentage of acquisition | 100.00% | |||||
Common stock, shares issued | 572,364,574 | 572,364,574 | ||||
Common stock, shares outstanding | 572,364,574 | 572,364,574 | ||||
Share Purchase Agreement [Member] | ||||||
Number of restricted common stock sold | 504,000,000 | |||||
Percentage of purchase | 88.06% | |||||
Predecessor [Member] | ||||||
Authorized capital | 1,005,000,000 | |||||
Common stock, par value | $ 0.001 | |||||
Common stock, shares authorized | 1,000,000,000 | |||||
Preferred stock, par value | $ 0.001 | |||||
Preferred stock, shares authorized | 5,000,000 | |||||
Common stock, shares issued | 66,397,574 | |||||
Common stock, shares outstanding | 66,397,574 | |||||
Predecessor [Member] | Preferred Shares (Series B) | ||||||
Preferred stock, shares authorized | 500,000 | |||||
Preferred stock, shares issued | 71,700 | |||||
Preferred stock, shares outstanding | 71,700 | |||||
Predecessor [Member] | Preferred Stock Series A | ||||||
Preferred stock, shares authorized | 1,000,000 | |||||
Preferred stock, shares issued | 1,000,000 | |||||
Preferred stock, shares outstanding | 1,000,000 | |||||
GRMZ [Member] | ||||||
Preferred stock, shares issued | 400,000 | |||||
Number of restricted common stock sold | 500,000,000 | |||||
KBIG [Member] | ||||||
Number of restricted common stock owned | 504,000,000 |
Cash and cash equivalents (Deta
Cash and cash equivalents (Details) - USD ($) | Oct. 31, 2019 | Oct. 31, 2018 | Sep. 03, 2018 |
Cash And Cash Equivalents | |||
Cash and cash equivalents |
Additional Paid-In Capital (Det
Additional Paid-In Capital (Details) - USD ($) | 12 Months Ended | |
Oct. 31, 2019 | Oct. 31, 2018 | |
Contribution | $ 26,963 | $ 1,376 |
Paul Moody [Member] | ||
Contribution | 7,335 | $ 1,376 |
Eric Mosser [Member] | ||
Contribution | 13,628 | |
Nirajkumar Patel [Member] | ||
Contribution | $ 6,000 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jan. 27, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Total Contribution by Officers | $ 26,963 | $ 1,376 | |
Subsequent Event [Member] | |||
Total Contribution by Officers | $ 26,157 |