Cover
Cover - shares | 9 Months Ended | |
Jul. 31, 2023 | Sep. 07, 2023 | |
Cover [Abstract] | ||
Entity Registrant Name | KHEOBA CORP. | |
Entity Central Index Key | 0001909770 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --10-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | true | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Jul. 31, 2023 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Entity Ex Transition Period | false | |
Entity Common Stock Shares Outstanding | 6,000,000 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 333-263020 | |
Entity Incorporation State Country Code | NV | |
Entity Tax Identification Number | 98-1636812 | |
Entity Address Address Line 1 | Petonal el Cerezo 8 | |
Entity Address Address Line 2 | 2A Los Realejos | |
Entity Address Country | ES | |
Entity Address Postal Zip Code | 38410 | |
City Area Code | 702 | |
Local Phone Number | 833-9604 | |
Entity Interactive Data Current | Yes |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jul. 31, 2023 | Oct. 31, 2022 |
BALANCE SHEETS | ||
Cash on hand | $ 4,034 | $ 2,005 |
Total current assets | 4,034 | 2,005 |
Website Development Costs, Net | 3,208 | 3,500 |
Total Assets | 7,243 | 5,505 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts payable | 340 | 4,500 |
Related party loan | 4,370 | 4,370 |
Total current liabilities | 4,710 | 8,870 |
Stockholders' Equity | ||
Common stock, $0.001 par value, 75,000,000 shares authorized; 6,000,000 shares issued and outstanding at par | 6,000 | 6,000 |
Accumulated deficit | (3,467) | (9,365) |
Total Stockholders' Equity | 2,533 | (3,365) |
Total Liabilities and Stockholders' Equity | $ 7,243 | $ 5,505 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Jul. 31, 2023 | Oct. 31, 2022 |
BALANCE SHEETS | ||
Common stock, par value | $ 0.001 | $ 0.0001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 6,000,000 | 6,000,000 |
Common stock, shares outstanding | 6,000,000 | 6,000,000 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
STATEMENTS OF OPERATIONS | ||||
REVENUES | $ 6,600 | $ 4,000 | $ 16,000 | $ 4,000 |
OPERATING EXPENSES | ||||
General and Administrative Expenses | 9,098 | 7,495 | 10,102 | 16,995 |
TOTAL OPERATING EXPENSES | 9,098 | 7,495 | 10,102 | 16,995 |
NET INCOME (LOSS) FROM OPERATIONS | (2,498) | (3,495) | 5,898 | (12,995) |
PROVISION FOR INCOME TAXES | 0 | 0 | 0 | 0 |
NET INCOME (LOSS) | $ (2,498) | $ (3,495) | $ 5,898 | $ (12,995) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 |
STATEMENTS OF STOCKHOLDERS EQUI
STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit |
Balance, shares at Oct. 31, 2021 | 6,000,000 | |||
Balance, amount at Oct. 31, 2021 | $ 5,130 | $ 6,000 | $ 0 | $ (870) |
Net income (loss) | (5,000) | $ 0 | 0 | (5,000) |
Balance, shares at Jan. 31, 2022 | 6,000,000 | |||
Balance, amount at Jan. 31, 2022 | 130 | $ 6,000 | 0 | (5,870) |
Balance, shares at Oct. 31, 2021 | 6,000,000 | |||
Balance, amount at Oct. 31, 2021 | 5,130 | $ 6,000 | 0 | (870) |
Net income (loss) | (12,995) | |||
Balance, shares at Jul. 31, 2022 | 6,000,000 | |||
Balance, amount at Jul. 31, 2022 | (7,865) | $ 6,000 | 0 | (13,865) |
Balance, shares at Jan. 31, 2022 | 6,000,000 | |||
Balance, amount at Jan. 31, 2022 | 130 | $ 6,000 | 0 | (5,870) |
Net income (loss) | (4,500) | $ 0 | 0 | (4,500) |
Balance, shares at Apr. 30, 2022 | 6,000,000 | |||
Balance, amount at Apr. 30, 2022 | (4,370) | $ 6,000 | 0 | (10,370) |
Net income (loss) | (3,495) | $ 0 | 0 | (3,495) |
Balance, shares at Jul. 31, 2022 | 6,000,000 | |||
Balance, amount at Jul. 31, 2022 | (7,865) | $ 6,000 | 0 | (13,865) |
Balance, shares at Oct. 31, 2022 | 6,000,000 | |||
Balance, amount at Oct. 31, 2022 | (3,365) | $ 6,000 | 0 | (9,365) |
Net income (loss) | 0 | $ 0 | 0 | 0 |
Balance, shares at Jan. 31, 2023 | 6,000,000 | |||
Balance, amount at Jan. 31, 2023 | (3,365) | $ 6,000 | 0 | (9,365) |
Balance, shares at Oct. 31, 2022 | 6,000,000 | |||
Balance, amount at Oct. 31, 2022 | (3,365) | $ 6,000 | 0 | (9,365) |
Net income (loss) | 5,898 | |||
Balance, shares at Jul. 31, 2023 | 6,000,000 | |||
Balance, amount at Jul. 31, 2023 | 2,533 | $ 6,000 | 0 | (3,467) |
Balance, shares at Jan. 31, 2023 | 6,000,000 | |||
Balance, amount at Jan. 31, 2023 | (3,365) | $ 6,000 | 0 | (9,365) |
Net income (loss) | 8,396 | $ 0 | 0 | 8,396 |
Balance, shares at Apr. 30, 2023 | 6,000,000 | |||
Balance, amount at Apr. 30, 2023 | 5,031 | $ 6,000 | 0 | (969) |
Net income (loss) | (2,498) | $ 0 | 0 | (2,498) |
Balance, shares at Jul. 31, 2023 | 6,000,000 | |||
Balance, amount at Jul. 31, 2023 | $ 2,533 | $ 6,000 | $ 0 | $ (3,467) |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) | $ 5,898 | $ (12,995) |
Adjustments to reconcile Net Income to net cash provided by operations: | ||
Depreciation Expense | 292 | 0 |
Accounts payable | (4,160) | 9,000 |
CASH FLOWS PROVIDED (USED) IN OPERATING ACTIVITIES | 2,029 | (3,995) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Website Development | 0 | (3,500) |
CASH FLOWS USED BY INVESTING ACTIVITIES | 0 | (3,500) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Related Party Loan | 0 | 3,500 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | 0 | 3,500 |
Net increase (decrease) in cash and equivalents | 2,029 | (3,995) |
Cash and equivalents at beginning of the period | 2,005 | 6,000 |
Cash and equivalents at end of the period | 4,034 | 2,005 |
Cash paid for: | ||
Interest | 0 | 0 |
Taxes | $ 0 | $ 0 |
ORGANIZATION AND BASIS OF PRESE
ORGANIZATION AND BASIS OF PRESENTATION | 9 Months Ended |
Jul. 31, 2023 | |
ORGANIZATION AND BASIS OF PRESENTATION | |
ORGANIZATION AND BASIS OF PRESENTATION | NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION Kheoba Corp. (referred as the “Company”, “we”, “our”) was Incorporated in the State of Nevada and established on July 27, 2021. We are a Software Development company that offers Consulting services. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Jul. 31, 2023 | |
GOING CONCERN | |
GOING CONCERN | NOTE 2 – GOING CONCERN The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the financial statements, the Company had an accumulated deficit of $3,467 at July 31, 2023, revenue of $16,000 for the nine months ended July 31, 2023. The Company has Related party loan of $4,370 on the balance sheet at July 31, 2023. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support the Company’s daily operations. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering. The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The extent of the impact of the coronavirus ("COVID‐19") outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID‐19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected. |
SUMMARY OF SIGNIFCANT ACCOUNTIN
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 9 Months Ended |
Jul. 31, 2023 | |
ORGANIZATION AND BASIS OF PRESENTATION | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is October 31. The financial information furnished herein reflects all adjustments, consisting of normal recurring items that, in the opinion of management, are necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods. The results of operations for the nine months ended July 31, 2023 are not necessarily indicative of the results to be expected for the year ending October 31, 2023. Development Stage Company The Company is a development stage company as defined in ASC 915 “Development Stage Entities”. The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities. The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company issued 6,000,000 common shares for consideration of $6,000 at par value $0.001 to director Gaga Gvenetadze. The Company owes $4,370 in Related Party Loan currently to director as per incorporation expenses of July 31, 2023. Website Development Costs The Company amortizes these costs using the straight-line method over a period of three years, which is the remaining estimated economic life of the costs. At the end of each reporting period, the Company writes down any excess of the unamortized balance over the net realizable value. In May 2022 the Company capitalized website development costs of $3,500 which will be amortized over three years. As of July 31, 2023, the total amount of website development cost was $3,500 and the amortization expense was $292. The Company expects to recognize amortization expense for the remainder of fiscal year ending October 31, 2023 of $583, amortization expense of $1,167 for the fiscal year ending October 31, 2024, amortization expense of $1,167 for the fiscal year ending October 31, 2025, and amortization expense of $583 for the fiscal year ending October 31, 2026. During the Website Application and Infrastructure Development Stage, the Company relied on Codification 350-50-25-7, which states “Costs to obtain and register an internet domain shall be capitalized under Section 350-30-25”. Codification 350-50-25-6 states “Costs incurred to purchase software tools, or costs incurred during the application development stage for internally developed tools, shall be capitalized”. Based on the above, the Company website costs are capitalized. Fair Value of Financial Instruments AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Update (ASU) 2014-09, Revenue from contracts with customers (Topic 606). Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the considerations that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery. We have sold five tourism programs: the "Caucasus Mountains Retreat" tour service, which is a 5-day guided tour at a cost of $550 per person; the "Old Tbilisi One Day Tour" at a cost of $50 per person; and the "Old Tbilisi 3 Days Tour" at a cost of $200 per person. Our main selling program is the Caucasus Mountains Retreat. At our company, customers pay us for our guided tours, which are thoughtfully designed to include tailored sightseeing, immersive local experiences, and a range of outdoor activities. We have curated a network of trusted providers who specialize in offering high-quality meals, comfortable accommodation, and convenient transportation. Customers have the flexibility to select and pay for these services directly with the respective providers, in addition to the tour fee they pay to our company. The tour includes customized tourist attractions and viewpoints in the Caucasus Mountains region. The company can arranges comfortable accommodations for the duration of the tour, such as hotels or lodges situated in picturesque locations near the Caucasus Mountains. The company handles transportation logistics, including airport transfers and transportation between various destinations throughout the tour. As stated, the tour is guided, so the company provides experienced guides who are knowledgeable about the region's history, culture, and natural beauty. The company organizes suitable activities for participants, taking into account their preferences and fitness levels. The company can organize breakfast, lunch, and dinner at selected restaurants or provide packed meals for outdoor excursions, ensuring that participants have access to nourishing and delicious food. Our company provides customer support throughout the tour, addressing any concerns or issues that participants may have. In determining the transaction price, we utilize various sources of information, including historical data, market conditions, contractual terms, customer-specific factors, and estimates of variable consideration, where applicable. These considerations enable us to make a reasonable estimate of the transaction price based on the information available at the time of revenue recognition. The transaction price is contractual. No other party can recognize revenue or issue refunds because the Kheoba director is the only party involved. Based on fair market price we allocate the transaction price as follows: 20% is planning/arranging, 30% is assistance and 50% is guide service. The Company collects payment from customers before the service is provided. When deposits are collected before the service is provided, the Company recognizes deferred income until the customer signs the act of acceptance. The Our performance obligation to plan and arrange trip are met when we finished with planning and arranging for the customers. Our performance obligation to perform assistance during the tour if needed is met when the tour is over in case no assistance is requested. Our obligation to perform the guided tours is met when we finish the guided tour and indication that guided tour is finished is signed by customers the act of acceptance of our services. The company determines that the obligation for guided tour is satisfied when the customer signs the act of acceptance. We consider the signing of the act of acceptance as the point in time when promised services is transferred to the customer. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2023, there were no potentially dilutive debt or equity instruments issued or outstanding. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements. |
LOAN FROM DIRECTOR
LOAN FROM DIRECTOR | 9 Months Ended |
Jul. 31, 2023 | |
LOAN FROM DIRECTOR | |
LOAN FROM DIRECTOR | NOTE 4 – LOAN FROM DIRECTOR As of July 31, 2023, the Company owed $4,370 to the Company’s sole director, Gaga Gvenetadze for the Company’s working capital purposes. The amount is outstanding and payable upon request. |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
Jul. 31, 2023 | |
COMMON STOCK | |
COMMON STOCK | NOTE 5 – COMMON STOCK The Company has 75,000,000, $0.001 par value shares of common stock authorized. On August 1, 2021 the Company issued 6,000,000 shares of common stock to a director for consideration of $6,000 at par value $0.001 per share. There were 6,000,000 shares of common stock issued and outstanding as of July 31, 2023. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Jul. 31, 2023 | |
COMMITMENTS AND CONTINGENCIES | |
COMMITMENTS AND CONTINGENCIES | NOTE 6 – COMMITMENTS AND CONTINGENCIES Our sole officer and director, Gaga Gvenetadze, has agreed to provide his own premise under office needs. He will not take any fee for these premises, it is for free use. The extent of the impact of the coronavirus ("COVID‐19") outbreak on the financial performance of the Company will depend on future developments, including the duration and spread of the outbreak and related advisories and restrictions and the impact of COVID‐19 on the overall economy, all of which are highly uncertain and cannot be predicted. If the overall economy is impacted for an extended period, the Company’s future operating results may be materially adversely affected. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Jul. 31, 2023 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | NOTE 7 – SUBSEQUENT EVENTS In accordance with ASC 855-10 the Company has analyzed its operations subsequent to July 31, 2023 through September 10, 2023, and has determined that it does not have any material subsequent events to disclose in these financial statements. |
SUMMARY OF SIGNIFCANT ACCOUNT_2
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Jul. 31, 2023 | |
ORGANIZATION AND BASIS OF PRESENTATION | |
Basis of Presentation | The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. The Company’s year-end is October 31. The financial information furnished herein reflects all adjustments, consisting of normal recurring items that, in the opinion of management, are necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods. The results of operations for the nine months ended July 31, 2023 are not necessarily indicative of the results to be expected for the year ending October 31, 2023. |
Development Stage Company | The Company is a development stage company as defined in ASC 915 “Development Stage Entities”. The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities. The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915. |
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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company issued 6,000,000 common shares for consideration of $6,000 at par value $0.001 to director Gaga Gvenetadze. The Company owes $4,370 in Related Party Loan currently to director as per incorporation expenses of July 31, 2023. |
Website Development Costs policy textblock | The Company amortizes these costs using the straight-line method over a period of three years, which is the remaining estimated economic life of the costs. At the end of each reporting period, the Company writes down any excess of the unamortized balance over the net realizable value. In May 2022 the Company capitalized website development costs of $3,500 which will be amortized over three years. As of July 31, 2023, the total amount of website development cost was $3,500 and the amortization expense was $292. The Company expects to recognize amortization expense for the remainder of fiscal year ending October 31, 2023 of $583, amortization expense of $1,167 for the fiscal year ending October 31, 2024, amortization expense of $1,167 for the fiscal year ending October 31, 2025, and amortization expense of $583 for the fiscal year ending October 31, 2026. During the Website Application and Infrastructure Development Stage, the Company relied on Codification 350-50-25-7, which states “Costs to obtain and register an internet domain shall be capitalized under Section 350-30-25”. Codification 350-50-25-6 states “Costs incurred to purchase software tools, or costs incurred during the application development stage for internally developed tools, shall be capitalized”. Based on the above, the Company website costs are capitalized. |
Fair Value of Financial Instruments | AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: Level 1: defined as observable inputs such as quoted prices in active markets; Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity. |
Revenue Recognition | The Company recognizes revenue in accordance with Accounting Standards Update (ASU) 2014-09, Revenue from contracts with customers (Topic 606). Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the considerations that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery. We have sold five tourism programs: the "Caucasus Mountains Retreat" tour service, which is a 5-day guided tour at a cost of $550 per person; the "Old Tbilisi One Day Tour" at a cost of $50 per person; and the "Old Tbilisi 3 Days Tour" at a cost of $200 per person. Our main selling program is the Caucasus Mountains Retreat. At our company, customers pay us for our guided tours, which are thoughtfully designed to include tailored sightseeing, immersive local experiences, and a range of outdoor activities. We have curated a network of trusted providers who specialize in offering high-quality meals, comfortable accommodation, and convenient transportation. Customers have the flexibility to select and pay for these services directly with the respective providers, in addition to the tour fee they pay to our company. The tour includes customized tourist attractions and viewpoints in the Caucasus Mountains region. The company can arranges comfortable accommodations for the duration of the tour, such as hotels or lodges situated in picturesque locations near the Caucasus Mountains. The company handles transportation logistics, including airport transfers and transportation between various destinations throughout the tour. As stated, the tour is guided, so the company provides experienced guides who are knowledgeable about the region's history, culture, and natural beauty. The company organizes suitable activities for participants, taking into account their preferences and fitness levels. The company can organize breakfast, lunch, and dinner at selected restaurants or provide packed meals for outdoor excursions, ensuring that participants have access to nourishing and delicious food. Our company provides customer support throughout the tour, addressing any concerns or issues that participants may have. In determining the transaction price, we utilize various sources of information, including historical data, market conditions, contractual terms, customer-specific factors, and estimates of variable consideration, where applicable. These considerations enable us to make a reasonable estimate of the transaction price based on the information available at the time of revenue recognition. The transaction price is contractual. No other party can recognize revenue or issue refunds because the Kheoba director is the only party involved. Based on fair market price we allocate the transaction price as follows: 20% is planning/arranging, 30% is assistance and 50% is guide service. The Company collects payment from customers before the service is provided. When deposits are collected before the service is provided, the Company recognizes deferred income until the customer signs the act of acceptance. The Our performance obligation to plan and arrange trip are met when we finished with planning and arranging for the customers. Our performance obligation to perform assistance during the tour if needed is met when the tour is over in case no assistance is requested. Our obligation to perform the guided tours is met when we finish the guided tour and indication that guided tour is finished is signed by customers the act of acceptance of our services. The company determines that the obligation for guided tour is satisfied when the customer signs the act of acceptance. We consider the signing of the act of acceptance as the point in time when promised services is transferred to the customer. |
Income Taxes | Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. |
Basic Income (Loss) Per Share | The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2023, there were no potentially dilutive debt or equity instruments issued or outstanding. |
Stock-Based Compensation | Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options. |
Recently Issued Accounting Standards | Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements. |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | Oct. 31, 2022 | |
GOING CONCERN | |||||
Related party loan | $ 4,370 | $ 4,370 | $ 4,370 | ||
Accumulated deficit | 3,467 | 3,467 | |||
Revenues | $ 6,600 | $ 4,000 | $ 16,000 | $ 4,000 |
SUMMARY OF SIGNIFCANT ACCOUNT_3
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Aug. 01, 2021 | Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | Oct. 31, 2022 | May 31, 2022 | |
Revenue | $ 6,600 | $ 4,000 | $ 16,000 | $ 4,000 | |||
Capitalized website development costs | 3,500 | 3,500 | $ 3,500 | ||||
Amortization expense | 292 | ||||||
2024 | 1,167 | 1,167 | |||||
2025 | 1,167 | 1,167 | |||||
2026 | 583 | 583 | |||||
Amortization expense for remainder of fiscal year | 583 | 583 | |||||
Related party loan | $ 4,370 | 4,370 | $ 4,370 | ||||
5 Day Guide Tour [Member] | |||||||
Revenue | 550 | ||||||
Old Tbilisi One Day Tour [Member] | |||||||
Revenue | 50 | ||||||
Old Tbilisi 3 Days Tour [Member] | |||||||
Revenue | $ 200 | ||||||
Director [Member] | |||||||
Common shares issued for consideration, shares | 6,000,000 | 6,000,000 | |||||
Common shares issued for consideration, value | $ 6,000 | $ 6,000 | |||||
Share price | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Related party loan | $ 4,370 | $ 4,370 |
LOAN FROM DIRECTOR (Details Nar
LOAN FROM DIRECTOR (Details Narrative) - USD ($) | Jul. 31, 2023 | Oct. 31, 2022 |
LOAN FROM DIRECTOR | ||
Related party loan | $ 4,370 | $ 4,370 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - USD ($) | 9 Months Ended | ||
Aug. 01, 2021 | Jul. 31, 2023 | Oct. 31, 2022 | |
Common Stock, Shares Authorized | 75,000,000 | 75,000,000 | |
Common shares outstanding | 6,000,000 | ||
Common Stock, Par Value | $ 0.001 | $ 0.0001 | |
Common stock, shares issued | 6,000,000 | 6,000,000 | |
Director [Member] | |||
Share price | $ 0.001 | $ 0.001 | |
Common shares issued for consideration, shares | 6,000,000 | 6,000,000 | |
Common shares issued for consideration, value | $ 6,000 | $ 6,000 |