Cover
Cover - shares | 6 Months Ended | |
Apr. 30, 2023 | Jun. 09, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Apr. 30, 2023 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --10-31 | |
Entity File Number | 333-251324 | |
Entity Registrant Name | GLOBAL LEADERS CORP. | |
Entity Central Index Key | 0001830696 | |
Entity Tax Identification Number | 00-0000000 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | Units 2613-18 | |
Entity Address, Address Line Two | 26/F., Shui On Centre | |
Entity Address, Address Line Three | 6-8 Harbour Road | |
Entity Address, City or Town | Wanchai | |
Entity Address, Country | HK | |
Entity Address, Postal Zip Code | 999077 | |
City Area Code | 852 | |
Local Phone Number | 8102 3633 | |
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 | |
Entity Bankruptcy Proceedings, Reporting Current | true | |
Entity Common Stock, Shares Outstanding | 154,394,750 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Apr. 30, 2023 | Oct. 31, 2022 |
Current assets | ||
Cash and cash equivalents | $ 150,364 | $ 797 |
Prepayments | 623 | 2,041 |
Total currents assets | 150,987 | 2,838 |
TOTAL ASSETS | 150,987 | 2,838 |
Current liabilities | ||
Accrued liabilities | 3,822 | 10,000 |
Due to officer/principal shareholder | $ 6,329 | $ 56,297 |
Other Liability, Current, Related and Nonrelated Party Status [Extensible Enumeration] | Related Party [Member] | Related Party [Member] |
Total current liabilities | $ 10,151 | $ 66,297 |
Commitments and Contingencies | ||
STOCKHOLDERS’ EQUITY (DEFICIT) | ||
Common Stock, $0.0001 par value, 600,000,000 shares authorized; 154,394,750 and 153,726,000 shares issued and outstanding at April 30, 2023 and October 31, 2022, respectively | 15,439 | 15,372 |
Additional paid in capital | 1,424,320 | 889,387 |
Accumulated other comprehensive income | 3,332 | 3,332 |
Accumulated deficit | (1,302,255) | (971,550) |
Total stockholders’ equity (deficit) | 140,836 | (63,459) |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $ 150,987 | $ 2,838 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Apr. 30, 2023 | Oct. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 600,000,000 | 600,000,000 |
Common stock, shares issued | 154,394,750 | 153,726,000 |
Common stock, shares outstanding | 154,394,750 | 153,726,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2023 | Apr. 30, 2022 | |
Revenues: | ||||
Service revenues | $ 2,560 | $ 2,560 | ||
Revenue, Product and Service [Extensible Enumeration] | Service [Member] | Service [Member] | Service [Member] | Service [Member] |
Total revenue | $ 2,560 | $ 2,560 | ||
Operating costs and expenses: | ||||
Cost of service revenues | 1,536 | 1,536 | ||
Total operating costs and expenses | 138,261 | 16,826 | 330,705 | 44,239 |
Loss from operations | (138,261) | (14,266) | (330,705) | (41,679) |
Net loss | (138,261) | (14,266) | (330,705) | (41,679) |
Other comprehensive income: | ||||
-Foreign currency translation income | 2,420 | 3,116 | ||
Comprehensive loss | $ (138,261) | $ (11,846) | $ (330,705) | $ (38,563) |
Basic and diluted net loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of shares outstanding | 154,394,750 | 153,726,000 | 154,339,021 | 153,726,000 |
Related Party [Member] | ||||
Operating costs and expenses: | ||||
General and administrative | $ 107,558 | $ 12,517 | $ 253,900 | $ 26,094 |
Other [Member] | ||||
Operating costs and expenses: | ||||
General and administrative | $ 30,703 | $ 2,773 | $ 76,805 | $ 16,609 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Oct. 31, 2021 | $ 15,372 | $ 752,338 | $ 159 | $ (862,229) | $ (94,360) |
Beginning balance, shares at Oct. 31, 2021 | 153,726,000 | ||||
Net loss | (41,679) | (41,679) | |||
Foreign currency translation | 3,116 | 3,116 | |||
Ending balance, value at Apr. 30, 2022 | $ 15,372 | 752,338 | 3,275 | (903,908) | (132,923) |
Ending balance, shares at Apr. 30, 2022 | 153,726,000 | ||||
Beginning balance, value at Jan. 31, 2022 | $ 15,372 | 752,338 | 855 | (889,642) | (121,077) |
Beginning balance, shares at Jan. 31, 2022 | 153,726,000 | ||||
Net loss | (14,266) | (14,266) | |||
Foreign currency translation | 2,420 | 2,420 | |||
Ending balance, value at Apr. 30, 2022 | $ 15,372 | 752,338 | 3,275 | (903,908) | (132,923) |
Ending balance, shares at Apr. 30, 2022 | 153,726,000 | ||||
Beginning balance, value at Oct. 31, 2022 | $ 15,372 | 889,387 | 3,332 | (971,550) | (63,459) |
Beginning balance, shares at Oct. 31, 2022 | 153,726,000 | ||||
Net loss | (330,705) | (330,705) | |||
Common Stock issued for cash in private placements | $ 67 | 534,933 | 535,000 | ||
Common Stock issued for cash in private placements, shares | 668,750 | ||||
Ending balance, value at Apr. 30, 2023 | $ 15,439 | 1,424,320 | 3,332 | (1,302,255) | 140,836 |
Ending balance, shares at Apr. 30, 2023 | 154,394,750 | ||||
Beginning balance, value at Jan. 31, 2023 | $ 15,439 | 1,424,320 | 3,332 | (1,163,994) | 279,097 |
Beginning balance, shares at Jan. 31, 2023 | 154,394,750 | ||||
Net loss | (138,261) | (138,261) | |||
Ending balance, value at Apr. 30, 2023 | $ 15,439 | $ 1,424,320 | $ 3,332 | $ (1,302,255) | $ 140,836 |
Ending balance, shares at Apr. 30, 2023 | 154,394,750 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Cash Flows From Operating Activities | ||
Net loss | $ (330,705) | $ (41,679) |
Change in operating assets and liabilities: | ||
Prepayments | 1,418 | (419) |
Accrued expense due to related party | (50,000) | |
Accrued liabilities and customer deposit | (6,178) | (32,716) |
Net cash used in operating activities | (335,465) | (124,814) |
Cash Flows From Financing Activities | ||
(Repayment to) advances from officer/principal shareholder | (49,968) | 114,505 |
Proceeds from shares issued for cash in private placements | 535,000 | |
Net cash provided by financing activities | 485,032 | 114,505 |
Effect of exchange rate changes in cash and cash equivalents | 3,116 | |
Net change in cash and cash equivalents | 149,567 | (7,193) |
Cash and cash equivalents, beginning of period | 797 | 11,822 |
Cash and cash equivalents, ending of period | 150,364 | 4,629 |
Cash paid for: | ||
Interest | ||
Income taxes |
BASIS OF PRESENTATION AND SUMMA
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Apr. 30, 2023 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of business Global Leaders Corporation, a Nevada corporation (the “Company”), was incorporated in the State of Nevada on July 20, 2020. Mr. Yip Hoi Hing Peter (“Mr. Peter Yip”), founder of the Company, is Chief Executive Officer, President and sole director of the Company. The Company plans to develop professional consultancy services to management executives of small and medium enterprises in Hong Kong. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements as of and for the three and six months ended April 30, 2023 and 2022, have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The consolidated balance sheet as of October 31, 2022, included herein was derived from the audited consolidated financial statements as of that date, included in the Company’s Annual Report on Form 10-K filed with the SEC on February 7, 2023. These financial statements should be read in conjunction with that report. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods have been included. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for the full fiscal year ending October 31, 2023. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary Global Leaders Corporation, a company incorporated in Anguilla. All intercompany balances and transactions have been eliminated in consolidation. Going Concern The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, for the six months ended April 30, 2023, the Company has failed to generate any revenue, incurred a net loss of $ 330,705 335,465 At April 30, 2023, our cash balance was $ 150,364 COVID-19 The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The Company monitors guidance from national and local public health authorities and has implemented health and safety precautions and protocols in response to these guidelines. The extent of the impact of the COVID-19 pandemic has had and will continue to have on the Company’s business is highly uncertain and difficult to predict and quantify at this time. 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, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates for the accruals of potential liabilities. Cash and cash equivalents Cash consists of funds on hand and held in bank accounts. Cash equivalents includes demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities of three months or less, including money market funds. SCHEDULE OF CASH AND CASH EQUIVALENTS As of As of (Unaudited) Cash and cash equivalents Denominated in United States Dollars $ 6,782 $ 217 Denominated in Hong Kong Dollars 143,582 580 Cash and cash equivalents $ 150,364 $ 797 Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of April 30, 2023, substantially all the Company’s cash was held by a major financial institution located in Hong Kong, which management believes is of high credit quality. Fair value measurements The Company follows the guidance of ASC 820-10, “Fair Value Measurements and Disclosures”, with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1 : Level 2 : Level 3 : The Company believes the carrying amount reported in the balance sheet for cash and cash equivalents, prepaid expenses and other current assets, accrued liabilities, due to officer/principal shareholder, and due from or due to a related party, approximate their fair values because of the short-term nature of these financial instruments. Foreign currency translation The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying condensed consolidated financial statements have been expressed in US$. In addition, the Company’s operating subsidiary uses Hong Kong Dollars (“HK$”) as its functional currency and maintains its books and records in the reporting currency US$, respectively. In general, for consolidation purposes, assets and liabilities of the Company’s subsidiaries whose functional currency is not the 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 of a foreign subsidiary are recorded as a separate component of accumulated other comprehensive loss within stockholders’ equity. Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the period: SCHEDULE OF FOREIGN CURRENCY TRANSLATION As of and for the six months 2023 2022 Period-end HK$ : US$1 exchange rate 7.85 7.85 Period-average HK$ : US$1 exchange rate 7.83 7.81 Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed like basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of April 30, 2023, the Company has no potentially dilutive securities, such as options or warrants, outstanding. Concentrations For the three and six months ended April 30, 2023, one vendor accounted for 73 71 For the three and six months ended April 30, 2022, one customer accounted for 100 For the three and six months ended April 30, 2022, one vendor accounted for 74 59 Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Credit Losses – Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for the Company beginning on November 1, 2023. The adoption of ASU 2016-13 is not expected to have a material impact on the Company’s financial position, results of operations, and cash flows. Other recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
STOCKHOLDERS
STOCKHOLDERS | 6 Months Ended |
Apr. 30, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS | NOTE 2 - STOCKHOLDERS Shares issued for cash in private placement During the three months ended April 30, 2023, the Company did not issue any shares of Common Stock. During the six months ended April 30, 2023, the Company sold 668,750 0.80 535,000 For the three and six months ended April 30, 2022, the Company did not issue any shares. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Apr. 30, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 3 - RELATED PARTY TRANSACTIONS In 2020, Mr. Peter Yip, CEO, purchased 30,100,000 3,100 19.50 30,000,000 3,000 19.43 In November 2022, the Company entered into two contacts with CS Global that have a term from November 1, 2022 to October 31, 2023. In the first contract, CS Global is to provide management services, as defined, to the Company for a monthly fee of $ 10,000 24,000 187,200 80,000 624,000 80,000 For the three months ended April 30, 2023, fees paid to CS Global totaled $ 101,567 29,873 71,694 For the six months ended April 30, 2023, fees paid to CS Global totaled $ 235,393 59,787 95,606 80,000 For the three and six months ended April 30, 2022, the Company did not incur any fees to CS Global. As of April 30, 2023 and October 31, 2022, the Company owed Mr. Peter Yip $ 6,329 56,297 Greenpro Capital Corp., through its wholly owned subsidiaries (collectively “Greenpro”), is a 5.83 10.36 For the three months ended April 30, 2023, the Company incurred total fees to Greenpro of $ 5,991 5,736 255 For the six months ended April 30, 2023, the Company incurred total fees to Greenpro of $ 18,507 16,812 640 800 255 During the three months ended April 30, 2022, the Company incurred professional fees to Greenpro of $ 12,517 26,094 |
BASIS OF PRESENTATION AND SUM_2
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Apr. 30, 2023 | |
Accounting Policies [Abstract] | |
Description of business | Description of business Global Leaders Corporation, a Nevada corporation (the “Company”), was incorporated in the State of Nevada on July 20, 2020. Mr. Yip Hoi Hing Peter (“Mr. Peter Yip”), founder of the Company, is Chief Executive Officer, President and sole director of the Company. The Company plans to develop professional consultancy services to management executives of small and medium enterprises in Hong Kong. |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements as of and for the three and six months ended April 30, 2023 and 2022, have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The consolidated balance sheet as of October 31, 2022, included herein was derived from the audited consolidated financial statements as of that date, included in the Company’s Annual Report on Form 10-K filed with the SEC on February 7, 2023. These financial statements should be read in conjunction with that report. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods have been included. The results of operations for the interim periods presented are not necessarily indicative of the results of operations to be expected for the full fiscal year ending October 31, 2023. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary Global Leaders Corporation, a company incorporated in Anguilla. All intercompany balances and transactions have been eliminated in consolidation. |
Going Concern | Going Concern The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying condensed consolidated financial statements, for the six months ended April 30, 2023, the Company has failed to generate any revenue, incurred a net loss of $ 330,705 335,465 At April 30, 2023, our cash balance was $ 150,364 |
COVID-19 | COVID-19 The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. The Company monitors guidance from national and local public health authorities and has implemented health and safety precautions and protocols in response to these guidelines. The extent of the impact of the COVID-19 pandemic has had and will continue to have on the Company’s business is highly uncertain and difficult to predict and quantify at this time. |
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, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates for the accruals of potential liabilities. |
Cash and cash equivalents | Cash and cash equivalents Cash consists of funds on hand and held in bank accounts. Cash equivalents includes demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities of three months or less, including money market funds. SCHEDULE OF CASH AND CASH EQUIVALENTS As of As of (Unaudited) Cash and cash equivalents Denominated in United States Dollars $ 6,782 $ 217 Denominated in Hong Kong Dollars 143,582 580 Cash and cash equivalents $ 150,364 $ 797 Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash. As of April 30, 2023, substantially all the Company’s cash was held by a major financial institution located in Hong Kong, which management believes is of high credit quality. |
Fair value measurements | Fair value measurements The Company follows the guidance of ASC 820-10, “Fair Value Measurements and Disclosures”, with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: Level 1 : Level 2 : Level 3 : The Company believes the carrying amount reported in the balance sheet for cash and cash equivalents, prepaid expenses and other current assets, accrued liabilities, due to officer/principal shareholder, and due from or due to a related party, approximate their fair values because of the short-term nature of these financial instruments. |
Foreign currency translation | Foreign currency translation The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying condensed consolidated financial statements have been expressed in US$. In addition, the Company’s operating subsidiary uses Hong Kong Dollars (“HK$”) as its functional currency and maintains its books and records in the reporting currency US$, respectively. In general, for consolidation purposes, assets and liabilities of the Company’s subsidiaries whose functional currency is not the 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 of a foreign subsidiary are recorded as a separate component of accumulated other comprehensive loss within stockholders’ equity. Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the period: SCHEDULE OF FOREIGN CURRENCY TRANSLATION As of and for the six months 2023 2022 Period-end HK$ : US$1 exchange rate 7.85 7.85 Period-average HK$ : US$1 exchange rate 7.83 7.81 |
Net loss per share | Net loss per share The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed like basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of April 30, 2023, the Company has no potentially dilutive securities, such as options or warrants, outstanding. |
Concentrations | Concentrations For the three and six months ended April 30, 2023, one vendor accounted for 73 71 For the three and six months ended April 30, 2022, one customer accounted for 100 For the three and six months ended April 30, 2022, one vendor accounted for 74 59 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Credit Losses – Measurement of Credit Losses on Financial Instruments (“ASC 326”). The standard significantly changes how entities will measure credit losses for most financial assets, including accounts and notes receivables. The standard will replace today’s “incurred loss” approach with an “expected loss” model, under which companies will recognize allowances based on expected rather than incurred losses. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for the Company beginning on November 1, 2023. The adoption of ASU 2016-13 is not expected to have a material impact on the Company’s financial position, results of operations, and cash flows. Other recent accounting pronouncements issued by the FASB, its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements. |
BASIS OF PRESENTATION AND SUM_3
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Apr. 30, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF CASH AND CASH EQUIVALENTS | SCHEDULE OF CASH AND CASH EQUIVALENTS As of As of (Unaudited) Cash and cash equivalents Denominated in United States Dollars $ 6,782 $ 217 Denominated in Hong Kong Dollars 143,582 580 Cash and cash equivalents $ 150,364 $ 797 |
SCHEDULE OF FOREIGN CURRENCY TRANSLATION | Translation of amounts from the local currencies of the Company into US$ has been made at the following exchange rates for the period: SCHEDULE OF FOREIGN CURRENCY TRANSLATION As of and for the six months 2023 2022 Period-end HK$ : US$1 exchange rate 7.85 7.85 Period-average HK$ : US$1 exchange rate 7.83 7.81 |
SCHEDULE OF CASH AND CASH EQUIV
SCHEDULE OF CASH AND CASH EQUIVALENTS (Details) - USD ($) | Apr. 30, 2023 | Oct. 31, 2022 |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Cash and cash equivalents | $ 150,364 | $ 797 |
United States of America, Dollars | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Cash and cash equivalents | 6,782 | 217 |
Hong Kong, Dollars | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Cash and cash equivalents | $ 143,582 | $ 580 |
SCHEDULE OF FOREIGN CURRENCY TR
SCHEDULE OF FOREIGN CURRENCY TRANSLATION (Details) | Apr. 30, 2023 | Apr. 30, 2022 |
Period-End HK$ : US$1 Exchange Rate [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Exchange rate | 7.85 | 7.85 |
Period-Average HK$ : US$1 Exchange Rate [Member] | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Exchange rate | 7.83 | 7.81 |
BASIS OF PRESENTATION AND SUM_4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Apr. 30, 2023 | Apr. 30, 2022 | Apr. 30, 2023 | Apr. 30, 2022 | Oct. 31, 2022 | |
Product Information [Line Items] | |||||
Net loss | $ 138,261 | $ 14,266 | $ 330,705 | $ 41,679 | |
Net cash provided by (used in) operating activities | 335,465 | $ 124,814 | |||
Cash balance | $ 150,364 | $ 150,364 | $ 797 | ||
Costs and Expenses [Member] | Supplier Concentration Risk [Member] | One Vendor [Member] | |||||
Product Information [Line Items] | |||||
Concentration risk percentage | 73% | 74% | 71% | 59% | |
Revenue Benchmark [Member] | Supplier Concentration Risk [Member] | One Customer [Member] | |||||
Product Information [Line Items] | |||||
Concentration risk percentage | 100% | 100% |
STOCKHOLDERS (Details Narrative
STOCKHOLDERS (Details Narrative) - USD ($) | 6 Months Ended | |
Apr. 30, 2023 | Apr. 30, 2022 | |
Subsidiary, Sale of Stock [Line Items] | ||
Proceeds from issuance of private placement | $ 535,000 | |
Private Placement [Member] | Restricted Stock [Member] | Eighteen Individuals [Member] | ||
Subsidiary, Sale of Stock [Line Items] | ||
Number of shares sold, shares | 668,750 | |
Sale of stock, price per share | $ 0.80 | |
Proceeds from issuance of private placement | $ 535,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Nov. 30, 2022 USD ($) | Nov. 30, 2022 HKD ($) | Apr. 30, 2023 USD ($) | Apr. 30, 2022 USD ($) | Apr. 30, 2023 USD ($) | Apr. 30, 2022 USD ($) | Oct. 31, 2020 USD ($) shares | Oct. 31, 2022 USD ($) | |
Related Party Transaction [Line Items] | ||||||||
Other Liabilities, Current | $ 6,329 | $ 6,329 | $ 56,297 | |||||
Greenpro Capital Corp., [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Professional fees | 5,991 | $ 12,517 | 18,507 | $ 26,094 | ||||
Accounting fees | 5,736 | 16,812 | ||||||
Secretarial fees | 255 | 255 | ||||||
Administration fee | 640 | |||||||
Advisory fees | 800 | |||||||
Related Party [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Other Liabilities, Current | 6,329 | 6,329 | $ 56,297 | |||||
CS Global Consultancy Limited [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
One time non refundable fees | $ 80,000 | $ 624,000 | ||||||
Non refundable fees | 80,000 | |||||||
Professional fees | 101,567 | 235,393 | ||||||
Management fees | 29,873 | 59,787 | ||||||
Other office usage and manpower support fees | $ 71,694 | 95,606 | ||||||
One time fee | $ 80,000 | |||||||
Greenpro Capital Corp., [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity method investment, ownership percentage | 5.83% | 5.83% | ||||||
First Contract [Member] | CS Global Consultancy Limited [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Management services fees | 10,000 | |||||||
Second Contract [Member] | CS Global Consultancy Limited [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Management services fees | $ 24,000 | $ 187,200 | ||||||
Three Executives [Member] | Greenpro Capital Corp., [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity method investment, ownership percentage | 10.36% | 10.36% | ||||||
Restricted Stock [Member] | CS Global Consultancy Limited and CSG Group Holdings Limited [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Number of shares sold, shares | shares | 30,000,000 | |||||||
Proceeds from issuance of common stock | $ 3,000 | |||||||
Restricted Stock [Member] | Shareholder [Member] | CS Global Consultancy Limited and CSG Group Holdings Limited [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity method investment, ownership percentage | 19.43% | |||||||
Restricted Stock [Member] | Chief Executive Officer [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Number of shares sold, shares | shares | 30,100,000 | |||||||
Proceeds from issuance of common stock | $ 3,100 | |||||||
Restricted Stock [Member] | Chief Executive Officer [Member] | Shareholder [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Equity method investment, ownership percentage | 19.50% |