Next Meats (NXMH) 10-Q 25 Mar 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Jan. 31, 2024	Mar. 25, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--04-30
Entity File Number	000-56167
Entity Registrant Name	Next Meats Holdings, Inc.
Entity Central Index Key	0001811530
Entity Tax Identification Number	85-4008709
Entity Incorporation, State or Country Code	NV
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
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
Common Stock, Shares, Outstanding		437,592,510

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jan. 31, 2024	Apr. 30, 2023
Current Assets
Cash and cash equivalents	$ 40,000	$ 292,454
Accounts receivable	213,840	339,463
Accounts receivable - related party	15,245	839
Accounts receivable - related party from discontinued operations	13	13
Advance payments and prepaid expenses	45,763	194,987
Inventories	82,074	134,646
TOTAL CURRENT ASSETS	396,935	962,402
Non-current assets
Equipment, net depreciation	89,597	120,531
Security deposits	128,253	141,750
TOTAL NON-CURRENT ASSETS	217,850	262,281
TOTAL ASSETS	614,785	1,224,683
Current Liabilities
Accrued expenses and other payables	264,548	343,742
Due to related party	38,739	9,815
Advance receipts	296,176	416,075
Short term loans	14,019	23,494
Current portion of long term loans	39,607
Short term loans - related party	383,599	23,858
TOTAL CURRENT LIABILITIES	1,036,687	816,984
Noncurrent Liabilities
Loans	138,190	231,894
Loans - related party	330,492	127,588
Other long term liabilities		1,753
TOTAL LIABILITIES	1,505,370	1,178,219
Preferred stock ($0.001 par value, 20,000,000 shares authorized, 0 issued and outstanding as of January 31, 2024 and April 30, 2023)
Common stock ($0.001 par value, 1,000,000,000 shares authorized, 437,592,510 and 502,562,280 shares issued and outstanding as of January 31, 2024 and April 30, 2023, respectively)	437,592	502,256
Additional paid-in capital	12,927,153	12,747,075
Accumulated deficit	(12,538,101)	(11,712,412)
Accumulated other comprehensive income(loss)	(1,719,407)	(1,492,940)
Accumulated other comprehensive income(loss) from discontinued operations	2,178	2,179
TOTAL SHAREHOLDERS' EQUITY(DEFICIT)	(890,585)	46,464
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY(DEFICIT)	$ 614,785	$ 1,224,683

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical)	Jan. 31, 2024 $ / shares shares
Statement of Financial Position [Abstract]
preferred par value | $ / shares	$ 0.001
preferred authorized	20,000,000
preferred issued	0
common par value | $ / shares	$ 0.001
common authorized	1,000,000,000
common stock issued	437,592,510

Condensed Consolidated Statemen

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
REVENUES
Revenues	$ 204,166	$ 221,567	$ 598,353	$ 1,092,882
Revenues - related party	60,469		141,906
Total revenues	264,635	221,567	740,259	1,092,882
Cost of revenues	98,356	209,841	192,168	977,301
Cost of revenues - related party	114,652		361,559
Total cost of revenues	213,008	209,841	553,727	977,301
GROSS PROFIT (LOSS)	51,627	11,726	186,532	115,581
OPERATING EXPENSE
Depreciation	6,476	12,534	19,093	30,516
General and administrative expenses	228,277	315,174	949,336	2,048,038
Total operating expenses	234,753	327,708	968,429	2,078,554
Income (loss) from operations	(183,126)	(315,982)	(781,897)	(1,962,973)
Other income (expense)
Interest expense	(2,372)	(1,692)	(6,248)	(5,386)
Other expense	(7,822)	34,942	(133,498)	(88,129)
Other income	6,400	192,956	28,157	237,814
Other income - related party	21,257		67,797
Total other income (expenses)	17,463	226,206	(43,792)	144,299
Net income (loss) before tax	(165,663)	(89,776)	(825,689)	(1,818,674)
Income tax expense		(341)
NET INCOME (LOSS)	(165,663)	(89,435)	(825,689)	(1,818,674)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	(629)	397,698	(226,468)	(154,767)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ (166,292)	$ 308,263	$ (1,052,157)	$ (1,973,441)
Income per common share
Basic	$ 0	$ 0	$ 0	$ 0
Diluted
Weighted average common shares outstanding
Basic	448,551,110	502,465,609	502,562,280	502,193,032
Diluted
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss from continuing operations			$ (825,689)	$ (1,818,674)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization			19,093	30,516
Provision for bad debt - Advance payments			131,816
Loss on the sale of fixed assets				371
Loss on the sale of stock				39,876
Changes in operating assets and liabilities:
Accounts receivable			125,623	754,722
Accounts receivable - related party			(14,406)	(192)
Short term loan receivable				(165,897)
Short term loans to the company			(9,475)
Short term loans to the company - related party			359,741
Advance receipts			(54,618)
Accrued expenses and other payables			(80,947)	86,486
Advance payments and prepaid expenses			17,409	34,456
Advance payments - related party
Accounts payable - related party			28,924
Security deposits			13,497	5,676
Deferred assets				739
Income tax payable				(23,841)
Expenses contributed to capital				87,283
Inventories			52,572	149,010
Net cash used in operating activities			(236,461)	(819,469)
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for equipment, net cash received for sale or disposal				(10,574)
Disposal of construction in progress				136,777
Disposal of land and improvements				29,581
Cash received for stock				147,624
Net cash provided by investing activities				303,408
CASH FLOWS FROM FINANCING ACTIVITIES
Common shares sold		$ 205,470	115,108	205,470
Common shares purchased and returned to treasury			(65,281)
Loans			(54,097)	(92,716)
Loans - related party			405,207
Payments on related party loans			(202,382)
Net cash provided by (used in) financing activities			198,635	112,754
Net effect of exchange rate changes on cash	$ (629)	397,698	(214,627)	154,768
Net Change in Cash and Cash Equivalents			(252,454)	(558,075)
Cash and cash equivalents - beginning of period			292,454	620,297
Cash and cash equivalents - end of period	$ 40,000	$ 58,140	40,000	58,140
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest paid			6,248	1,692
Income taxes paid				$ 23,841

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Changes in Stockholders' Equity/ Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid in Capital	Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Common shares issued and outstanding					502,255,600
Balance, value	$ 502,256	$ 5,893,031,815	$ (1,199,027)	$ (5,887,460,258)	$ 4,874,786
Beginning balance, value at Apr. 30, 2022	502,256	5,893,031,815	(1,199,027)	(5,887,460,258)	4,874,786
Net loss				(942,498)	(942,498)
Foreign currency translation			(182,451)		(182,451)
Beginning balance, value at Apr. 30, 2022	502,256	5,893,031,815	(1,199,027)	(5,887,460,258)	4,874,786
Common shares sold					205,470
Net loss					(1,818,674)
Foreign currency translation					$ 154,768
Common shares issued and outstanding					502,255,600
Balance, value	502,256	5,893,036,428	(1,381,478)	(5,888,402,756)	$ 3,754,449
Beginning balance, value at Jul. 31, 2022	502,256	5,893,036,428	(1,381,478)	(5,888,402,756)	3,754,449
Net loss				(786,741)	(786,741)
Foreign currency translation			(370,014)		$ (370,014)
Common shares issued and outstanding					502,255,600
Balance, value	502,256	5,893,119,099	(1,751,492)	(5,889,189,497)	$ 2,680,367
Beginning balance, value at Oct. 31, 2022	502,256	5,893,119,099	(1,751,492)	(5,889,189,497)	2,680,367
Common shares sold	306	205,164			205,470
Net loss				(89,435)	(89,435)
Foreign currency translation			397,698		$ 397,698
Common shares issued and outstanding					502,562,280
Balance, value	502,562	5,893,324,262	(1,353,794)	(5,889,278,932)	$ 3,194,098
Common shares issued and outstanding					502,562,280
Balance, value	502,562	12,747,075	(1,490,761)	(11,712,412)	$ 46,464
Beginning balance, value at Apr. 30, 2023	502,562	12,747,075	(1,490,761)	(11,712,412)	46,464
Common shares sold	311	114,797			115,108
Net loss				(336,520)	(336,520)
Foreign currency translation			(216,729)		(216,729)
Beginning balance, value at Apr. 30, 2023	502,562	12,747,075	(1,490,761)	(11,712,412)	46,464
Common shares sold					115,108
Net loss					(825,689)
Foreign currency translation					$ (214,627)
Common shares issued and outstanding					502,873,382
Balance, value	502,873	12,861,872	(1,707,490)	(12,048,932)	$ (391,677)
Beginning balance, value at Jul. 31, 2023	502,873	12,861,872	(1,707,490)	(12,048,932)	(391,677)
Net loss				(323,507)	(323,507)
Foreign currency translation			(9,110)		(9,110)
Shares purchased and returned to treasury	(40,168)	40,168
Common shares issued and outstanding					462,705,290
Balance, value	462,705	12,902,040	(1,716,600)	(12,372,439)	$ (724,293)
Beginning balance, value at Oct. 31, 2023	462,705	12,902,040	(1,716,600)	(12,372,439)	(724,293)
Net loss				(165,663)	(165,663)
Foreign currency translation			(629)		(629)
Shares purchased and returned to treasury	(25,113)	25,113
Common shares issued and outstanding					437,592,510
Balance, value	$ 437,592	$ 12,927,153	$ (1,717,229)	$ (12,538,101)	$ (890,585)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Stockholders' Equity/ Deficit (Unaudited) Continued - USD ($)	Common Stock [Member]	Additional Paid in Capital	Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Common shares issued and outstanding					502,255,600
Balance, value	$ 502,256	$ 5,893,031,815	$ (1,199,027)	$ (5,887,460,258)	$ 4,874,786
Beginning balance, value at Apr. 30, 2022	502,256	5,893,031,815	(1,199,027)	(5,887,460,258)	4,874,786
Contributed capital		4,612			4,612
Net loss				(942,498)	(942,498)
Foreign currency translation			(182,451)		(182,451)
Beginning balance, value at Apr. 30, 2022	502,256	5,893,031,815	(1,199,027)	(5,887,460,258)	4,874,786
Contributed capital					87,283
Net loss					(1,818,674)
Foreign currency translation					154,768
Common shares sold					$ 205,470
Common shares issued and outstanding					502,255,600
Balance, value	502,256	5,893,036,428	(1,381,478)	(5,888,402,756)	$ 3,754,449
Beginning balance, value at Jul. 31, 2022	502,256	5,893,036,428	(1,381,478)	(5,888,402,756)	3,754,449
Contributed capital		82,671			82,671
Net loss				(786,741)	(786,741)
Foreign currency translation			(370,014)		$ (370,014)
Common shares issued and outstanding					502,255,600
Balance, value	502,256	5,893,119,099	(1,751,492)	(5,889,189,497)	$ 2,680,367
Beginning balance, value at Oct. 31, 2022	502,256	5,893,119,099	(1,751,492)	(5,889,189,497)	2,680,367
Net loss				(89,435)	(89,435)
Foreign currency translation			397,698		397,698
Common shares sold	306	205,164			$ 205,470
Common shares issued and outstanding					502,562,280
Balance, value	502,562	5,893,324,262	(1,353,794)	(5,889,278,932)	$ 3,194,098
Common shares issued and outstanding					502,562,280
Balance, value	502,562	12,747,075	(1,490,761)	(11,712,412)	$ 46,464
Beginning balance, value at Apr. 30, 2023	502,562	12,747,075	(1,490,761)	(11,712,412)	46,464
Net loss				(336,520)	(336,520)
Foreign currency translation			(216,729)		(216,729)
Common shares sold	311	114,797			115,108
Beginning balance, value at Apr. 30, 2023	502,562	12,747,075	(1,490,761)	(11,712,412)	46,464
Contributed capital
Net loss					(825,689)
Foreign currency translation					(214,627)
Common shares sold					$ 115,108
Common shares issued and outstanding					502,873,382
Balance, value	502,873	12,861,872	(1,707,490)	(12,048,932)	$ (391,677)
Beginning balance, value at Jul. 31, 2023	502,873	12,861,872	(1,707,490)	(12,048,932)	(391,677)
Net loss				(323,507)	(323,507)
Foreign currency translation			(9,110)		$ (9,110)
Common shares issued and outstanding					462,705,290
Balance, value	462,705	12,902,040	(1,716,600)	(12,372,439)	$ (724,293)
Beginning balance, value at Oct. 31, 2023	462,705	12,902,040	(1,716,600)	(12,372,439)	(724,293)
Net loss				(165,663)	(165,663)
Foreign currency translation			(629)		$ (629)
Common shares issued and outstanding					437,592,510
Balance, value	$ 437,592	$ 12,927,153	$ (1,717,229)	$ (12,538,101)	$ (890,585)

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	9 Months Ended
	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1 - Organization and Description of Business	Note 1 - Organization and Description of Business Next Meats Holdings, Inc. (we, us, our, or the "Company"), formerly known as Turnkey Solutions, Inc., was incorporated on April 15, 2020 in the State of Nevada. Next Meats Holdings Inc. currently operates in the “alternative meat” industry through its subsidiaries in Japan, Singapore, Hong Kong and the United States. These financial statements consolidate those of Next Meats Holdings, Inc., Next Meats Japan Co. Ltd., Next Meats Holdings USA, Next Meats Hong Kong, and Next Meats Singapore. The Company has elected April 30th as its year end.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Jan. 31, 2024
Accounting Policies [Abstract]
Note 2 - 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. The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the unaudited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosures contained in the unaudited financial statements for the most recent fiscal period, as reported in the 2021 Annual Report, have been omitted. 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 January 31, 2024 and April 30, 2023 were $40,000 $292,454,

Accounts Receivable and Credit

Accounts Receivable and Credit Policies	9 Months Ended
	Jan. 31, 2024
Accounting Policies [Abstract]
Accounts Receivable and Credit Policies	Accounts Receivable and Credit Policies Accounts receivable are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred.

Advance payments and prepaid ex

Advance payments and prepaid expenses	9 Months Ended
	Jan. 31, 2024
Advance Payments And Prepaid Expenses
Advance payments and prepaid expenses	Advance payments and prepaid expenses Advance payments and prepaid expenses are cash paid amounts that represent costs incurred from which a service or benefit is expected to be derived in the future.

Inventory

Inventory	9 Months Ended
	Jan. 31, 2024
Inventory
Inventory	Inventory Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out ("FIFO") method, and are valued at the lower of cost or net realizable value. This valuation requires the Company to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category.

Fixed assets and depreciation

Fixed assets and depreciation	9 Months Ended
	Jan. 31, 2024
Fixed Assets And Depreciation
Fixed assets and depreciation	Fixed assets and depreciation The company recognizes purchased assets with a useful life longer than one year as fixed or non-current assets. These assets are depreciated using the straight-line method of depreciation over the estimated useful life of the assets.

Foreign currency translation

Foreign currency translation	9 Months Ended
	Jan. 31, 2024
Foreign Currency [Abstract]
Foreign currency translation	Foreign currency translation The Company maintains its books and records in its local currency, Japanese YEN (“JPY”), which is a functional currency as being the primary currency of the economic environment in which its operation is conducted. 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 statements of operations. The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In accordance with ASC Topic 830-30, “Translation of Financial Statement”, assets and liabilities of the Company whose functional currency is not US$ are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity. Translation of amounts from the local currency of the Company into US$1 January 31, 2024 Current JPY: US$1 exchange rate 147.55 Average JPY: US$1 exchange rate 144.74

Comprehensive income or loss

Comprehensive income or loss	9 Months Ended
	Jan. 31, 2024
Equity [Abstract]
Comprehensive income or loss	Comprehensive income or loss ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive income or loss, its components and accumulated balances. Comprehensive income or loss as defined includes all changes in equity during a period from non-owner sources. Accumulated comprehensive income, as presented in the accompanying consolidated statements of shareholders’ equity consists of changes in unrealized gains and losses on foreign currency translation.

Revenue recognition

Revenue recognition	9 Months Ended
	Jan. 31, 2024
Revenue Recognition
Revenue recognition	Revenue recognition The Company adopted ASC 606 - Revenue from contracts with Customers: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. Revenue for products is recognized when the products are delivered to the customer and the customer complete the product inspection. Cash receipts for undelivered products are recorded as deferred revenues. As of January 31, 2024, the Company had no deferred revenues. Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets or liabilities were recognized on January 31, 2024 and April 30, 2023. Basic Earnings (Loss) Per Share The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share. Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company. The Company does not have any potentially dilutive instruments as of January 31, 2024 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 assets and 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 January 31, 2024. 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, for the identification of related parties and disclosure of related party transactions. 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 January 31, 2024. The Company’s stock-based compensation for the periods ended January 31, 2024 and January 31, 2023 was $0 for both periods. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 We have no assets and or leases that we believe will be impacted in the foreseeable future by the newly adopted accounting standard(s) mentioned above. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations. -F5- Table of Contents

Note 3 - Going Concern

Note 3 - Going Concern	9 Months Ended
	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 3 - 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 recorded enough revenue to cover its operating costs and gross revenue for the nine months ended January 31, 2024 decreased by $352,623 or 32.27% as compared to the nine months ended January 31, 2023. Management attributes this drop in revenue to global economic challenges, a restructuring of the Company’s large-scale sales department, changes in product offerings, and discontinued operations in two subsidiaries. We believe the products we offer, and continue to offer, to be a ‘premium’ alternative to traditional food options, which typically coincides with increased costs. Given the condition of the global economy, we believe there is likely less demand for premium alternatives to traditional food products, such as those we currently offer. Over the course of the last year, we believe we have been affected by decreased demand for our products, our decision to no longer wholesale rice, and the decreased price at which we have offered our products, resulting in less revenue as compared to the previous year. Previously, we also had a wider selection of food options and other facets of our business which we believe drove revenues. Specifically, from time to time we would engage in the wholesale sale of rice, however we no longer engage in the wholesale sale of rice because our previous sole supplier is no longer in business. We believe that due to the current downtrend in the global economy, such efforts should not recommence, if at all, until the global economy recovers to pre-pandemic levels. At this time, we also no longer offer “Next Milk” which we believed would gain popularity in the near term. Various components of the products we offered, or seek to continue to offer, are either not available, or available at price points that are not as attractive. As a result, at this time, it is difficult for us to produce cost effective products that we believe would rival the cost of generic food products, and thus bolster our revenues. We believe many consumers are purchasing more cost-effective options. Because of this, we are exploring means to lessen the cost of our product lineup while maintaining what we believe to be the same quality products, but we cannot forecast with any level of certainty if such efforts will be successful. Many of these endeavors rely on our ability to source ingredients at a lower cost, which, at this time, is a challenge. In December of 2022, we dissolved NextMeats France, a French Entity. We do not believe there to be a great enough demand for our products in France and surrounding areas, although we do still intend to offer our products in areas of Europe in the future . We have also paused efforts to pursue selling products in Hong Kong under our wholly owned subsidiary, Next Meats HK Co. Limited (“Next Meats HK”), a Hong Kong Company. We do not believe the current market would be conducive to our business objectives in this area at this point in time. However, we will reassess this decision in the future, although we cannot specifically identity when that may be. Next Meats HK Co. Limited remains a wholly owned subsidiary of the Company. We expect our other wholly owned subsidiaries, Next Meats USA and Next Meats Japan Co. Ltd, to improve their operating income in the next fiscal year. However, management plans to fund some operating expenses with related party contributions to capital until there is sufficient revenue to cover all operating expenses. 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 if the Company cannot continue as a going concern.

Note 4 - Advance payments and P

Note 4 - Advance payments and Prepaid Expenses	9 Months Ended
	Jan. 31, 2024
Note 4 - Advance Payments And Prepaid Expenses
Note 4 - Advance payments and Prepaid Expenses	Note 4 - Advance payments and Prepaid Expenses Advance payments are comprised mainly of payments for prepaid rent. As of January 31, 2024 and April 30, 2023, the Company had advance payments of $ 45,762 194,987

Note 5 - Fixed Assets

Note 5 - Fixed Assets	9 Months Ended
	Jan. 31, 2024
Note 5 - Fixed Assets
Note 5 - Fixed Assets	Note 5 - Fixed Assets Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives. When retired or otherwise disposed, the carrying value and accumulated depreciation of the fixed asset is removed from its respective accounts and the net difference less any amount realized from disposition is reflected in earnings. Expenditures for maintenance and repairs which do not extend the useful lives of the related assets are expensed as incurred. As of January 31, 2024 and April 30, 2023 fixed assets, net depreciation Estimated Useful Life July 31, April 30, (approx. years) 2023 2023 Machinery and equipment 10 $ 68,824 $ 89,070 Machinery and equipment 5 3,315 5,209 Furniture fixtures and tools 4 742 3,011 Furniture fixtures and tools 5 5,705 8,965 Furniture fixtures and tools 6 2,211 3,242 Furniture fixtures and tools 10 2,032 2,630 Furniture fixtures and tools 12 3,719 4,677 Furniture fixtures and tools 15 3,049 3,725 Net book value $ 89,597 $ 120,531 During the period ended January 31, 2024, the Company did not purchase any long-term assets. Total depreciation expense for the period ended January 31, 2024 was $ 19,093 During the year ended April 30, 2023, the Company, through its subsidiary in France (which has since been dissolved), disposed of fixed assets, including Machinery and equipment due to liquidation of subsidiary. The Company recorded a profit from the liquidation of the assets as $ 148,122

Note 6 - Income Taxes

Note 6 - Income Taxes	9 Months Ended
	Jan. 31, 2024
Income Tax Disclosure [Abstract]
Note 6 - Income Taxes	Note 6 - Income Taxes The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. As of January 31, 2024, the Company has incurred a net loss of approximately $ 12,538,101 2,633,001 Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company has incurred a net operating loss carryforward of $ 12,538,101 which begins expiring in 2040. The Company has adopted ASC 740, “Accounting for Income Taxes”, as of its inception. Pursuant to ASC 740 the Company is required to compute tax asset benefits for non-capital losses carried forward. The potential benefit of the net operating loss has not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the loss carried forward in future years.

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	9 Months Ended
	Jan. 31, 2024
Payables and Accruals [Abstract]
Note 7 - Accrued Expenses	Note 7 - Accrued Expenses Accrued expenses and other payables totaled $ 264,548 343,742

Note 8 - Shareholders_ Equity

Note 8 - Shareholders’ Equity	9 Months Ended
	Jan. 31, 2024
Equity [Abstract]
Note 8 - Shareholders’ Equity	Note 8 - Shareholders’ Equity Preferred Stock The authorized preferred stock of the Company consists of 20,000,000 shares with a par value of $0.001. There were no shares issued and outstanding as of January 31, 2024 and April 30, 2023. Common Stock The authorized common stock of the Company consists of 1,000,000,000 shares with a par value of $0.001. There were 437,592,510 and 502,562,280 shares of common stock issued and outstanding as of January 31, 2024 and April 30, 2023, respectively. On or about December 5, 2023, the Company entered into an agreement for the purchase of 25,112,780 shares of the Company’s restricted Common Stock from Hiroki Tajiri, a Japanese Citizen, at a price of $0.001 per share of Common Stock. The transaction was completed, and recorded, by the Company’s transfer agent on December 11, 2023, at which time the 25,112,780 shares of common stock were cancelled and resumed the status of Treasury Shares. The total subscription amount paid by the Company was approximately $25,113. At this time, Hiroki Tajiri is not a related party to the Company. On or about September 7, 2023, the Company entered into an agreement for the purchase of 40,168,092 shares of the Company’s restricted Common Stock from Ryo Shirai, a Japanese Citizen and our former Chief Executive Officer, at a price of $0.001 per share of Common Stock. The transaction was completed, and recorded, by the Company’s transfer agent on October 23, 2023, at which time the 40,168,092 resumed the status of Treasury Shares. The total subscription amount paid by the Company was approximately $40,168. At this time, Ryo Shirai is not a related party to the Company. On or about June 26, 2023, the company consummated an agreement for the sale of 311,102 shares of restricted Common Stock to Ultimate One LLC, a Japanese Company, at a price of $0.37 per share of Common Stock. The transaction was completed, and recorded by the Company’s transfer agent, on June 30, 2023. The total subscription amount paid by Ultimate One LLC was approximately $115,108. Ultimate One LLC is not a related party to the Company.

Note 9 - Related-Party Transact

Note 9 - Related-Party Transactions	9 Months Ended
	Jan. 31, 2024
Related Party Transactions [Abstract]
Note 9 - Related-Party Transactions	Note 9 - Related-Party Transactions Accounts receivable During the period ended January 31, 2024, our subsidiary, Next Meats Japan Co., Ltd (“NMCO”), paid expenses totaling approximately $ 14,482 on behalf of Mama Foods Co., Ltd (“Mama Foods”), a Japanese company indirectly controlled by our CEO, Koichi Ishizuka. During the year ended April 30, 2023, our subsidiary, Next Meats Japan Co., Ltd, paid expenses, totaling approximately $ 753 During the year ended April 30, 2023, our subsidiary, Next Meats Hong Kong Co., Ltd, paid expenses, totaling approximately $ 13 , on behalf of a shareholder of the Company. Accounts payable During the period ended January 31, 2024, NMCO was invoiced approximately $ 38,497 242 Short term loans During the period ended January 31, 2024, our subsidiary Next Meats Japan received funds from and made repayments to related party WB Burgers Japan Co. Ltd (“WBBJ”) which resulted in a net amount of approximately $ 383,599 During the year ended April 30, 2023, our subsidiary, Next Meats Japan Co., Ltd, was loaned approximately $ 23,858 from officers of the company. These loans are unsecured, noninterest-bearing, and payable upon demand. Additional Paid-In Capital During the period ended April 30, 2023, our subsidiary, Next Meats Hong Kong Co., Ltd, was loaned approximately $ 2,687 Revenue During the period ended January 31, 2024, NMCO recorded approximately $ 139,866 2,039 Cost of Revenues During the period ended January 31, 2024, NMCO purchased products totaling approximately $ 361,559 Office Space From tim

Note 10 - Subsequent Events

Note 10 - Subsequent Events	9 Months Ended
	Jan. 31, 2024
Subsequent Events [Abstract]
Note 10 - Subsequent Events	Note 10 - Subsequent Events None.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2024
Accounting Policies [Abstract]
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. The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the unaudited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosures contained in the unaudited financial statements for the most recent fiscal period, as reported in the 2021 Annual Report, have been omitted.
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 January 31, 2024 and April 30, 2023 were $40,000 $292,454,

Revenue recognition (Policies)

Revenue recognition (Policies)	9 Months Ended
	Jan. 31, 2024
Revenue Recognition
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets or liabilities were recognized on January 31, 2024 and April 30, 2023.
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. Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company. The Company does not have any potentially dilutive instruments as of January 31, 2024 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 assets and 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 January 31, 2024. 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, for the identification of related parties and disclosure of related party transactions.
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 January 31, 2024. The Company’s stock-based compensation for the periods ended January 31, 2024 and January 31, 2023 was $0 for both periods.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 We have no assets and or leases that we believe will be impacted in the foreseeable future by the newly adopted accounting standard(s) mentioned above. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Foreign currency translation (T

Foreign currency translation (Tables)	9 Months Ended
	Jan. 31, 2024
Foreign Currency [Abstract]
Translation of amounts from the local currency of the Company into US$1	Translation of amounts from the local currency of the Company into US$1 January 31, 2024 Current JPY: US$1 exchange rate 147.55 Average JPY: US$1 exchange rate 144.74

Note 5 - Fixed Assets (Tables)

Note 5 - Fixed Assets (Tables)	9 Months Ended
	Jan. 31, 2024
Note 5 - Fixed Assets
fixed assets, net depreciation	As of January 31, 2024 and April 30, 2023 fixed assets, net depreciation Estimated Useful Life July 31, April 30, (approx. years) 2023 2023 Machinery and equipment 10 $ 68,824 $ 89,070 Machinery and equipment 5 3,315 5,209 Furniture fixtures and tools 4 742 3,011 Furniture fixtures and tools 5 5,705 8,965 Furniture fixtures and tools 6 2,211 3,242 Furniture fixtures and tools 10 2,032 2,630 Furniture fixtures and tools 12 3,719 4,677 Furniture fixtures and tools 15 3,049 3,725 Net book value $ 89,597 $ 120,531

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Jan. 31, 2024	Apr. 30, 2023
Accounting Policies [Abstract]
Cash and Cash Equivalents, As of	$ 40,000	$ 292,454

Note 4 - Advance payments and_2

Note 4 - Advance payments and Prepaid Expenses (Details Narrative) - USD ($)	Jan. 31, 2024	Apr. 30, 2023
Note 4 - Advance Payments And Prepaid Expenses
prepaid expenses	$ 45,762	$ 194,987

Note 5 - Fixed Assets (Details

Note 5 - Fixed Assets (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Jan. 31, 2024	Apr. 30, 2023
Note 5 - Fixed Assets
depreciation	$ 19,093
liquidation of assets		$ 148,122

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Narrative)	Jan. 31, 2024 USD ($)
Income Tax Disclosure [Abstract]
net loss	$ 12,538,101
deferred tax asset	2,633,001
[custom:Netoperatinglosscarryforward-0]	$ 12,538,101

Note 7 - Accrued Expenses (Deta

Note 7 - Accrued Expenses (Details Narrative) - USD ($)	Jan. 31, 2024	Apr. 30, 2023
Payables and Accruals [Abstract]
Accrued Liabilities, Current	$ 264,548	$ 343,742

Note 9 - Related-Party Transa_2

Note 9 - Related-Party Transactions (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Jan. 31, 2024	Apr. 30, 2023
Related Party Transactions [Abstract]
[custom:Expensespaidbyjapansubformama]	$ 14,482
expenses paid by nmco for wbba year		$ 753
[custom:Expensespaidbynextmeatshongkong]		13
[custom:Nmcoinvoicedbymamafoods]	38,497
[custom:Nmcoinvoicedbydrfs]	242
repayment to wbbj	383,599
[custom:Loanedtosubsidiarybyofficers]		23,858
loan		$ 2,687
[custom:Revenuefrommamafoods]	139,866
[custom:Revenuefromwbbj]	2,039
[custom:Productspurchasedfrommamafoods]	$ 361,559