Cover
Cover - USD ($) | 12 Months Ended | |
Jul. 31, 2023 | Oct. 27, 2023 | |
Cover [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Period End Date | Jul. 31, 2023 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --07-31 | |
Entity File Number | 000-55282 | |
Entity Registrant Name | HIMALAYA TECHNOLOGIES, INC. | |
Entity Central Index Key | 0001409624 | |
Entity Tax Identification Number | 26-0841675 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 831 W North Ave. | |
Entity Address, City or Town | Pittsburgh | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 15233 | |
City Area Code | (630) | |
Local Phone Number | 708-0750 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Public Float | $ 184,990 | |
Entity Common Stock, Shares Outstanding | 205,791,975 | |
Documents Incorporated by Reference [Text Block] | None. | |
ICFR Auditor Attestation Flag | false | |
Document Financial Statement Error Correction [Flag] | false | |
Auditor Name | Victor Mokuolu, CPA PLLC | |
Auditor Location | Houston, Texas | |
Auditor Firm ID | 6771 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jul. 31, 2023 | Jul. 31, 2022 |
Current assets | ||
Cash | $ 324 | $ 4,141 |
Total current assets | 324 | 4,141 |
Other assets: | ||
Investment in oil and gas properties | ||
Investments | 21,000 | 309,590 |
Website design | 14,651 | 13,338 |
Total other assets | 35,651 | 322,928 |
Total assets | 35,975 | 327,069 |
Current liabilities | ||
Accounts payable and accrued expenses | 277,478 | 293,856 |
Derivative liability | 680,946 | 440,766 |
Loans payable due to non-related parties, net | 162,025 | 151,500 |
Total current liabilities | 1,161,606 | 1,020,744 |
Total liabilities | 1,161,606 | 1,020,744 |
Stockholders’ deficit | ||
Common stock; $0.0001 par value authorized: 1,000,000,000 shares; issued and outstanding 186,878,572 and 147,201,861 | 18,688 | 14,720 |
Additional paid-in-capital | 7,491,934 | 7,350,927 |
Accumulated deficit | (8,637,251) | (8,059,476) |
Total stockholders’ deficit | (1,125,631) | (693,675) |
Total liabilities and stockholders’ deficit | 35,975 | 327,069 |
Preferred Class A [Member] | ||
Stockholders’ deficit | ||
Preferred stock value | 846 | |
Preferred Class B [Member] | ||
Stockholders’ deficit | ||
Preferred stock value | 52 | 54 |
Preferred Class C [Member] | ||
Stockholders’ deficit | ||
Preferred stock value | 100 | 100 |
Majority Shareholder [Member] | ||
Current liabilities | ||
Loan from related parties | 96,400 | |
Affiliated Entity [Member] | ||
Current liabilities | ||
Loan from related parties | $ 41,157 | $ 38,222 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jul. 31, 2023 | Jul. 31, 2022 |
Common Stock, par value | $ 0.0001 | $ 0.0001 |
Common Stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, shares issued | 186,878,572 | 147,201,861 |
Common stock, shares, outstanding | 186,878,572 | 147,201,861 |
Preferred Class A [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 130,000,000 | 130,000,000 |
Preferred stock, shares issued | 8,457,777 | 0 |
Preferred stock, shares outstanding | 8,457,777 | 0 |
Preferred Class B [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 518,730 | 536,876 |
Preferred stock, shares outstanding | 518,730 | 536,876 |
Preferred Class C [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 1,000,000 | 1,000,000 |
Consolidated Statement of Opera
Consolidated Statement of Operations - USD ($) | 12 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Income Statement [Abstract] | ||
Operating revenue | ||
Cost of revenue | ||
Gross profit | ||
Operating expenses: | ||
General and administrative | 297,512 | 283,068 |
Amortization expense | 4,687 | 2,663 |
Total operating expenses | 302,199 | 285,731 |
Loss from operations | (302,199) | (285,731) |
Other income (expenses) | ||
Interest expense | (33,630) | (22,986) |
Derivative expense | (64,937) | |
Change in derivative liability | (209,603) | 111,125 |
Investment loss | (79,800) | |
Gain on sale of oil and gas properties | 112,000 | |
Other income | 393 | 553 |
Total other income (expenses) | (275,577) | 88,692 |
Loss before income taxes | (577,776) | (197,039) |
Provision for income taxes | ||
Net income (loss) | $ (577,776) | $ (197,039) |
Net income (loss) per share, basic | $ 0 | $ 0 |
Net income (loss) per share, diluted | $ 0 | $ 0 |
Weighted average common equivalent share outstanding, basic | 157,911,455 | 130,845,920 |
Weighted average common equivalent share outstanding, diluted | 157,911,455 | 130,845,920 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Deficit - USD ($) | Common Stock [Member] | Preferred Stock [Member] Preferred Class A [Member] | Preferred Stock [Member] Preferred Class B [Member] | Preferred Stock [Member] Preferred Class C [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Preferred Class B [Member] | Total |
Balance at Jul. 31, 2021 | $ 9,773 | $ 30 | $ 100 | $ 6,709,111 | $ (7,862,437) | $ (1,143,423) | ||
Balance, shares at Jul. 31, 2021 | 97,734,883 | 300,000 | 1,000,000 | |||||
Conversion of convertible debt | $ 4,947 | 123,050 | 127,997 | |||||
Conversion of convertible debt, shares | 49,466,978 | |||||||
Shares issued for services | $ 2 | 39,198 | 39,200 | |||||
Shares issued for services, shares | 22,000 | |||||||
Shares issued for accrued compensation | $ 2 | 79,998 | 80,000 | |||||
Shares issued for accrued compensation, shares | 15,504 | |||||||
Shares issued for investment | $ 20 | 309,570 | 309,590 | |||||
Shares issued for investment, shares | 199,372 | |||||||
Recognition of warrants | 90,000 | 90,000 | ||||||
Net income (loss) | (197,039) | (197,039) | ||||||
Balance at Jul. 31, 2022 | $ 14,720 | $ 54 | $ 100 | 7,350,927 | (8,059,476) | (693,675) | ||
Balance, shares at Jul. 31, 2022 | 147,201,861 | 536,876 | 1,000,000 | |||||
Conversion of convertible debt | $ 3,968 | 60,641 | 64,609 | |||||
Conversion of convertible debt, shares | 39,676,711 | |||||||
Shares issued for services, shares | 99,686 | |||||||
Shares issued for accrued compensation | $ 478 | $ 8 | 159,514 | 160,000 | ||||
Shares issued for accrued compensation, shares | 4,777,777 | 81,590 | ||||||
Recognition of warrants | 90,000 | 90,000 | ||||||
Net income (loss) | (577,776) | (577,776) | ||||||
Conversion of warrants | $ 200 | 9,800 | 10,000 | |||||
Conversion of warrants, shares | 2,000,000 | |||||||
Recission of investment in TAG | $ (10) | (119,830) | (119,840) | |||||
Recission of investment in TAG, shares | (99,686) | |||||||
Recission of investment in GenBio | $ (10) | (189,739) | (189,749) | |||||
Recission of investment in GenBio, shares | (99,686) | |||||||
Acquisition of investment in PTOP | $ 168 | 100,632 | 100,800 | |||||
Acquisition of investment in PTOP, shares | 1,680,000 | |||||||
Shares issued for debt forgiveness and advisory fees | $ 10 | 29,990 | 30,000 | |||||
Shares issued for debt forgiveness and advisory fees, shares | 100,000 | |||||||
Balance at Jul. 31, 2023 | $ 18,688 | $ 846 | $ 52 | $ 100 | $ 7,491,934 | $ (8,637,252) | $ (1,125,631) | |
Balance, shares at Jul. 31, 2023 | 186,878,572 | 8,457,777 | 518,730 | 1,000,000 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 12 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Cash flows provided by (used for) operating activities: | ||
Net income (loss) | $ (577,776) | $ (197,039) |
Adjustments to reconcile net loss to net cash provided by (used for) operating activities: | ||
Amortization expense | 4,687 | 2,663 |
Gain on sale of oil and gas properties | (112,000) | |
Change in derivative liability | 209,603 | (111,125) |
Derivative expense | 64,937 | |
Amortization of debt discount | 4,075 | |
Shares/ Warrants issued for services | 90,000 | 129,200 |
Shares issued for advisory fees | 12,983 | |
Loss on investments | 79,800 | |
Increase (decrease) in assets and liabilities: | ||
Accounts payable | 131,367 | 147,002 |
Accrued interest on loans payable | 29,555 | |
Net cash used for operating activities | (62,769) | (29,299) |
Cash flows provided by (used for) Investing activities | ||
Payment of Website Design | (6,000) | (5,800) |
Net cash provided by (used for) investing activities | (6,000) | (5,800) |
Cash flows provided by (used for) Financing activities | ||
Payment of related party loan | (20,863) | (600) |
Proceeds from loan from affiliate | 50,815 | 11,222 |
Proceeds from non-related loans | 35,000 | |
Net cash provided by (used for) financing activities | 64,952 | 10,622 |
Net (decrease) increase in cash | (3,817) | (24,477) |
Cash, beginning of year | 4,141 | 28,618 |
Cash, end of year | 324 | 4,141 |
Supplemental disclosure of cash flow information | ||
Cash paid for interest | ||
Cash paid for taxes | ||
Preferred stock issued for accrued compensation | 140,000 | |
Common stock issued for debt | 64,609 | 761,456 |
Conversion of warrants | 10,000 | |
Recission of investment in TAG | 119,841 | 761,456 |
Recission of investment in GenBio | $ 189,749 | $ 761,456 |
ORGANIZATION
ORGANIZATION | 12 Months Ended |
Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION | Note 1 – ORGANIZATION Himalaya Technologies, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on July 8, 2003. The Company’s principal historical activities had been the acquisition of a mineral property in the State of New Mexico. During the fiscal year ended July 31, 2010, the Company began to acquire working interests in a seismic exploration program as well as a drilling program in crude oil and natural gas properties in Oklahoma. Prior to July 31, 2019 the Company discontinued the exploration and drilling in Oklahoma and New Mexico. The Company had leases on two properties that were fully depleted prior to July 31, 2022. Over the past few years, the company generated approximately $ 1,500 On June 28, 2021 the Company amended its Articles of Incorporation to change the name of the Company to “Himalaya Technologies, Inc.” from Homeland Resources Ltd. The Company’s business plan includes completing its’ social site Kanab.Club targeting health and wellness based on the cannabis market, generating revenues from advertising and subscriptions, incorporating social media site into the site. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements were prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”) and in conformity with the rules and regulation of the U.S. Securities and Exchange Commission (SEC). Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make certain 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. Actual results could differ from those estimates. Significant estimates include accounts payable, the recoverability of long-term assets, and the valuation of derivative liabilities. Consolidation The consolidated financial statements include the accounts and operations of the Company, and its wholly owned subsidiary, KANAB CORP. All intercompany transactions and accounts have been eliminated in the consolidation. Cash Cash consists of deposits in two large national banks in the United States. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt, and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows: Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s analyses of all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. The Company has recorded the conversion option on notes as a derivative liability because of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting. The Company recognizes derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of July 31, 2023: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Total Level 1 Level 2 Level 3 Assets Investments 21,000 21,000 - - Total assets measured at fair value 21,000 21,000 - - Liabilities Derivative liability 680,946 - - 680,946 Total liabilities measured at fair value 680,946 - - 680,946 Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 Assets and liabilities measured at fair value are as follows as of July 31, 2022: Total Level 1 Level 2 Level 3 Assets Total assets measured at fair value - - - - Liabilities Derivative liability 440,766 - - 440,766 Total liabilities measured at fair value 440,766 - - 440,766 Earnings Per Share (EPS) Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS assumes that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). During the fiscal years ended July 31, 2023 and 2022, the Company generated no revenues and incurred substantial losses, of which the vast majority were due to mostly non-cash charges for accrued interest, penalties and derivative charges related to convertible debt instruments. Therefore, the effect of any common stock equivalents on EPS is anti-dilutive during those periods. Income Taxes The Company utilizes FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that were included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 On July 31, 2023 and 2022, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended July 31, 2023 and prior years or in computing its tax provisions for any years. Prior management considered its tax positions and believed that all of the positions taken by the Company in its Federal and State tax returns were more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. New management, which took control of the Company on June 21, 2021, is currently evaluating prior management’s decision to not file federal tax returns and plans on filing past returns and related 1099 filings for compensation paid to prior management, employees, consultants, contractors and affiliates. The Company does not believe it has a material tax liability due to its operating losses in these periods but is preparing tax filings to bring itself current as it completes and moves forward on announced mergers and acquisitions. Concentration of Credit Risk Cash is mainly maintained by one highly qualified institution in the United States. At various times, such amounts are more than federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash. Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. Crude Oil and Natural Gas Properties The Company follows the full cost accounting method to account for crude oil and natural gas properties, whereby costs incurred in the acquisition, exploration and development of crude oil and natural gas reserves are capitalized. Such costs include lease acquisition, geological and geophysical activities, rentals on non-producing leases, drilling, completing and equipping of crude oil and natural gas wells and administrative costs directly attributable to those activities and asset retirement costs. Disposition of crude oil and natural gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless, such adjustment would significantly alter the relationship between capital costs and proved reserves of crude oil and natural gas, in which case the gain or loss is recognized to income. The capitalized costs of crude oil and natural gas properties, excluding unevaluated and unproved properties, are amortized using the units-of-production method based on estimated proved recoverable crude oil and natural gas reserves. Amortization of unevaluated and unproved property costs begins when the properties become proved or their values become impaired. Impairment of unevaluated and unproved prospects is assessed periodically based on a variety of factors, including management’s intention with regard to future exploration and development of individually significant properties and the ability of the Company to obtain funds to finance such exploration and development. Under full cost accounting rules for each cost center, capitalized costs of evaluated crude oil and natural gas properties, including asset retirement costs, less accumulated amortization and related deferred income taxes, may not exceed an amount (the “cost ceiling”) equal to the sum of (a) the present value of future net cash flows from estimated production of proved crude oil and natural gas reserves, based on current economic and operating conditions, discounted at 10%, plus (b) the cost of properties not being amortized, plus (c) the lower of cost or estimated fair value of any unproved properties included in the costs being amortized, less (d) any income tax effects related to differences between the book and tax basis of the properties involved. If capitalized costs exceed this limit, the excess is charged to earnings. Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 Given the volatility of crude oil and natural gas prices, it is reasonably possible that the estimate of discounted future net cash flows from proved crude oil and natural gas reserves could change in the near term. If crude oil and natural gas prices decline in the future, even if only for a short period of time, it is possible that additional impairments of crude oil and natural gas properties could occur. In addition, it is reasonably possible that additional impairments could occur if costs are incurred in excess of any increases in the present value of future net cash flows from proved crude oil and natural gas reserves, or if properties are sold for proceeds less than the discounted present value of the related proved crude oil and natural gas reserves. The crude oil and gas properties were fully depleted prior to July 31, 2019. During the year ended July 31, 2023, the Company reached an agreement with its former CEO to sell the Company’s interest in all of its crude oil and natural gas properties. The interest was sold on or around November 8, 2022. Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Codification (“ ASC” Stock-Based Compensation The Company accounts for all stock-based compensation using a fair value-based method. The fair value of equity-classified awards granted to employees is estimated on the date of the grant using the Black-Scholes option-pricing model and the related stock-based compensation expense is recognized over the vesting period during which an employee is required to provide service in exchange for the award. Intangible Assets The Company’s intangible assets include the Kanab.Club website, which was developed for external use. The Company carries these intangibles at cost, less accumulated amortization. Amortization is recorded on a straight-line basis over the estimated useful lives, estimated to be 5 Goodwill and Other Acquired Intangible Assets The Company initially records goodwill and other acquired intangible assets at their estimated fair values and reviews these assets periodically for impairment. Goodwill represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination and is tested at least annually for impairment, historically during our fourth quarter. Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 Derivative Liabilities The Company assessed the classification of its derivative financial instruments as of July 31, 2023 and 2022, which consist of convertible instruments and warrants in the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815. ASC 815 generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument subject to the requirements of ASC 815. ASC 815 also provides an exception to this rule when the host instrument is deemed to be conventional, as described. The Company uses judgment in determining the fair value of derivative liabilities at the date of issuance and at every balance sheet thereafter and in determining which valuation method is most appropriate for the instrument, the expected volatility, the implied risk-free interest rate, as well as the expected dividend rate, if any. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) – Accounting for Convertible Instruments and Contracts on an Entity’s Own Equity. The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for the exceptions. The ASU also simplifies the diluted net income per share calculation in certain areas. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the impact of the adoption of the standard on the consolidated financial statements. Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | Note 3 – GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate the continuation of the Company as a going concern. The Company reported an accumulated deficit of $ 8,637,251 1,161,282 302,199 285,731 In view of the matters described, there is substantial doubt as to the Company’s ability to continue as a going concern without a significant infusion of capital. We anticipate that we will have to raise additional capital to fund operations over the next 12 months. To the extent that we are required to raise additional funds to acquire properties, and to cover costs of operations, we intend to do so through additional offerings of debt or equity securities. There are no commitments or arrangements for other offerings in place, no guaranties that any such financings would be forthcoming, or as to the terms of any such financings. Any future financing may involve substantial dilution to existing investors. |
ACQUISITION OF KANAB CORP
ACQUISITION OF KANAB CORP | 12 Months Ended |
Jul. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
ACQUISITION OF KANAB CORP | Note 4 – ACQUISITION OF KANAB CORP On July 31, 2021, the Company acquired 100 KANAB CORP.’s business plan includes completing its social site targeting health and wellness products and services in the cannabis market, generating revenues from advertising and subscriptions, incorporating social media site into the site, and marketing health and wellness products targeting consumers. KANAB CORP. is a 300,000 11,500 The following summarizes the acquired intangible assets: SCHEDULE OF ACQUIRED INTANGIBLE ASSETS July 31, July 31, 2023 2022 Intangible assets $ 23,800 $ 17,800 Accumulated amortization (9,149 ) (4,462 ) Intangible assets- net $ 14,651 $ 13,338 |
INVESTMENTS
INVESTMENTS | 12 Months Ended |
Jul. 31, 2023 | |
Investments, All Other Investments [Abstract] | |
INVESTMENTS | Note 5 - INVESTMENTS On November 28, 2021 the Company executed a 19.9 99,686 2,036,188 19.9 .0019 99,685,794 189,749 99,686 Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 On January 1, 2022, the Company executed a 19.9 99,686 1,242,000 .0012 99,868,000 119,841 99,686 On June 12, 2023, the Company purchased 210,000,000 1,680,000 63,000 100,800 37,800 21,000 The following summarizes the Company’s investments: SCHEDULE OF COMPANY’S INVESTMENTS 2023 2022 July 31, 2023 2022 GenBio, Inc. $ - $ 189,749 The Agrarian Group LLC - 119,841 Peer to Peer Network 21,000 - Investments $ 21,000 $ 309,590 |
LOANS PAYABLE DUE TO RELATED PA
LOANS PAYABLE DUE TO RELATED PARTIES | 12 Months Ended |
Jul. 31, 2023 | |
Related Party Transactions [Abstract] | |
LOANS PAYABLE DUE TO RELATED PARTIES | Note 6 – LOANS PAYABLE DUE TO RELATED PARTIES As of July 31, 2023 and 2022, the Company’s former chief executive officer had an outstanding balance of $ 0 96,400 On June 28, 2021, the Company received a loan of $ 25,000 58,174 38,222 30 due on December 25, 2021. This maturity has been extended, most recently on October 10, 2022, to December 31, 2023 On May 10, 2023, the Company sold 100 17,017 100 100,000 Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 |
CONVERTIBLE NOTE PAYABLES
CONVERTIBLE NOTE PAYABLES | 12 Months Ended |
Jul. 31, 2023 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTE PAYABLES | Note 7 - CONVERTIBLE NOTE PAYABLES The Company had convertible note payables with two third parties with stated interest rates ranging between 10 12 22 SCHEDULE OF CONVERTIBLE NOTES OUTSTANDING Lender Origination Maturity July 31, 2023 July 31, 2022 Interest GS Capital Partners LLC 6/29/21 6/29/22 $ 145,500 $ 151,500 24 % 1800 Diagonal Lending LLC 8/15/22 8/15/23 16,700 - 8 % 162,200 $ 151,500 The convertible note for GS Capital Partners LLC converts at a price of 60 404,166,667 On August 15, 2022, the Company entered into a convertible note agreement 1800 Diagonal Lending LLC for $ 39,250 August 15, 2023 8 61 34,221,311 In connection with the convertible note with 1800 Diagonal Lending LLC, the note contained an original issue discount (“OID”) of $ 4,250 4,075 During the year ended July 31, 2023, third-party lenders converted $ 64,609 39,676,711 During the year ended July 31, 2022, third-party lenders converted $ 127,997 49,466,978 The variables used for the Black-Scholes model are as listed below: SCHEDULE OF FAIR VALUE ASSUMPTION OF BLACK-SCHOLES MODEL July 31,2023 July 31, 2022 ● Volatility: 333 Volatility: 355 ● Risk free rate of return: 5.40 Risk free rate of return: 2.98 ● Expected term: 1 Expected term: 1 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Jul. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | Note 8 – INCOME TAXES The Company did not file its federal tax returns for fiscal years from 2012 through 2022. Management at year-end 2023 and 2022 believed that it should not have any material impact on the Company’s financials because the Company did not have any tax liabilities due to net loss incurred during these years. Based on the available information and other factors, management believes it is more likely than not that any potential net deferred tax assets on July 31, 2023 and 2022 will not be fully realizable. Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 |
STOCKHOLDERS _EQUITY
STOCKHOLDERS ‘EQUITY | 12 Months Ended |
Jul. 31, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS ‘EQUITY | Note 9 – STOCKHOLDERS ‘EQUITY Common Stock During the year ended July 31, 2023, third-party lenders converted $ 64,609 39,676,711 During the year ended July 31, 2022, third-party lenders converted $ 127,997 49,466,978 Preferred Stock The preferred shares are in three classes: ● Class A shares which, 130,000,000 50 voting rights of 1 vote per share 8,457,777 0 422,888,850 0 ● Class B shares, 20,000,000 1,000 voting rights of 1,000 votes per share 518,730 536,876 518,730,000 536,876,000 ● Class C shares, 1,000,000 1 voting rights of 100,000 votes per share 1,000,000 100,000,000,000 99,000,000 During the year ended July 31, 2023, the Company issued 4,777,777 81,590 160,000 During the year ended July 31, 2023, the Company issued 1,680,000 210,000,000 63,000 100,800 37,800 During the year ended July 31, 2023, the Company agreed for the unwinding of its investment in TAG. As such, the Company returned its membership interests and TAG agreed to return 99,686 During the year ended July 31, 2023, the Company unwound its investment in TAG, and received back 99,686 During the year ended July 31, 2023, issued 100,000 During the year ended July 31, 2022, the Company issued 22,000 Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 During the year ended July 31, 2022, the Company issued 15,504 80,000 On November 28, 2021 the Company issued 99,686 2,036,188 19.9 On January 1, 2022, the Company issued 99,686 1,242,000 19.9 Warrants On June 22, 2021, the Company issued 50,000,000 five-year .0001 On June 29, 2021, the Company issued 15,000,000 0.01 On June 28, 2021, the Company issued 50,000,000 five-year .0001 The Company estimates the fair value of each award on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the table below. Since Black-Scholes option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Expected volatilities are based on the historical volatility of the Company’s stock. The Company uses historical data to estimate award exercise and employee termination within the valuation model, whereby separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of granted awards is derived from the output of the option valuation model and represents the period of time that granted awards are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the award is based on the U.S. Treasury yield curve in effect at the time of grant. These FOMO Advisors LLC warrants were valued at $ 450,000 99,616 350,384 During the quarter ended April 30, 2023, FOMO Advisors, LLC exercised 100,000,000 2,000,000 10,000 The following are the assumptions utilized in valuing the warrants: SCHEDULE OF ASSUMPTIONS UTILIZED IN VALUING WARRANTS Volatility 465 % Expected life 5 years Risk free rate 3 % Dividend yield 0 % Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 The following table sets forth common share purchase warrants outstanding as of July 31, 2023 and 2022: SCHEDULE OF PURCHASE WARRANTS OUTSTANDING Weighted Average Intrinsic Warrants Exercise Price Value Outstanding, July 31, 2021 65,000,000 0.0024 430,000 Warrants granted - - - Warrants exercised - - - Warrants forfeited - - - Outstanding, July 31, 2022 65,000,000 0.0024 105,000 Warrants granted - - - Warrants exercised (50,000,000 ) - - Warrants forfeited - - - Outstanding, July 31, 2023 15,000,000 $ 0.0024 $ - |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Jul. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 10 – COMMITMENTS AND CONTINGENCIES On August 1, 2021, the Board of Directors approved compensation to Vikram Grover CEO of $ 10,000 2,500 7,500 5,000 5,000 During the years ended July 31, 2023 and 2022, the Company accrued $ 120,000 120,000 |
SALE OF OIL AND GAS INTERESTS
SALE OF OIL AND GAS INTERESTS | 12 Months Ended |
Jul. 31, 2023 | |
Sale Of Oil And Gas Interests | |
SALE OF OIL AND GAS INTERESTS | Note 11 – SALE OF OIL AND GAS INTERESTS On November 8, 2022, the Company reached an agreement with its former CEO to sell the Company’s interest in all of its crude oil and natural gas properties for $ 112,000 112,000 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Jul. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | Note 12 – SUBSEQUENT EVENTS Subsequent to July 31, 2023, 1800 Diagonal Lending LLC converted debt of $ 4,500 9,183,673 On September 8, 2023, our CEO Vikram Grover converted $ 10,000 333,333 On September 26, 2023, our CEO Vikram Grover converted $ 5,000 142,857 On September 28, 2023, 1800 Diagonal Lending LLC converted debt of $ 3,600 9,729,730 On September 28, 2023, our CEO Vikram Grover converted $ 2,500 62,500 On October 2, 2023, our CEO Vikram Grover converted $ 2,500 68,571 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements were prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”) and in conformity with the rules and regulation of the U.S. Securities and Exchange Commission (SEC). |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make certain 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. Actual results could differ from those estimates. Significant estimates include accounts payable, the recoverability of long-term assets, and the valuation of derivative liabilities. |
Consolidation | Consolidation The consolidated financial statements include the accounts and operations of the Company, and its wholly owned subsidiary, KANAB CORP. All intercompany transactions and accounts have been eliminated in the consolidation. |
Cash | Cash Cash consists of deposits in two large national banks in the United States. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 |
Fair Value of Financial Instruments | Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt, and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows: Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s analyses of all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. The Company has recorded the conversion option on notes as a derivative liability because of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting. The Company recognizes derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of July 31, 2023: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Total Level 1 Level 2 Level 3 Assets Investments 21,000 21,000 - - Total assets measured at fair value 21,000 21,000 - - Liabilities Derivative liability 680,946 - - 680,946 Total liabilities measured at fair value 680,946 - - 680,946 Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 Assets and liabilities measured at fair value are as follows as of July 31, 2022: Total Level 1 Level 2 Level 3 Assets Total assets measured at fair value - - - - Liabilities Derivative liability 440,766 - - 440,766 Total liabilities measured at fair value 440,766 - - 440,766 |
Earnings Per Share (EPS) | Earnings Per Share (EPS) Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS assumes that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). During the fiscal years ended July 31, 2023 and 2022, the Company generated no revenues and incurred substantial losses, of which the vast majority were due to mostly non-cash charges for accrued interest, penalties and derivative charges related to convertible debt instruments. Therefore, the effect of any common stock equivalents on EPS is anti-dilutive during those periods. |
Income Taxes | Income Taxes The Company utilizes FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that were included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 On July 31, 2023 and 2022, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended July 31, 2023 and prior years or in computing its tax provisions for any years. Prior management considered its tax positions and believed that all of the positions taken by the Company in its Federal and State tax returns were more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. New management, which took control of the Company on June 21, 2021, is currently evaluating prior management’s decision to not file federal tax returns and plans on filing past returns and related 1099 filings for compensation paid to prior management, employees, consultants, contractors and affiliates. The Company does not believe it has a material tax liability due to its operating losses in these periods but is preparing tax filings to bring itself current as it completes and moves forward on announced mergers and acquisitions. |
Concentration of Credit Risk | Concentration of Credit Risk Cash is mainly maintained by one highly qualified institution in the United States. At various times, such amounts are more than federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash. |
Risks and Uncertainties | Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. |
Crude Oil and Natural Gas Properties | Crude Oil and Natural Gas Properties The Company follows the full cost accounting method to account for crude oil and natural gas properties, whereby costs incurred in the acquisition, exploration and development of crude oil and natural gas reserves are capitalized. Such costs include lease acquisition, geological and geophysical activities, rentals on non-producing leases, drilling, completing and equipping of crude oil and natural gas wells and administrative costs directly attributable to those activities and asset retirement costs. Disposition of crude oil and natural gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless, such adjustment would significantly alter the relationship between capital costs and proved reserves of crude oil and natural gas, in which case the gain or loss is recognized to income. The capitalized costs of crude oil and natural gas properties, excluding unevaluated and unproved properties, are amortized using the units-of-production method based on estimated proved recoverable crude oil and natural gas reserves. Amortization of unevaluated and unproved property costs begins when the properties become proved or their values become impaired. Impairment of unevaluated and unproved prospects is assessed periodically based on a variety of factors, including management’s intention with regard to future exploration and development of individually significant properties and the ability of the Company to obtain funds to finance such exploration and development. Under full cost accounting rules for each cost center, capitalized costs of evaluated crude oil and natural gas properties, including asset retirement costs, less accumulated amortization and related deferred income taxes, may not exceed an amount (the “cost ceiling”) equal to the sum of (a) the present value of future net cash flows from estimated production of proved crude oil and natural gas reserves, based on current economic and operating conditions, discounted at 10%, plus (b) the cost of properties not being amortized, plus (c) the lower of cost or estimated fair value of any unproved properties included in the costs being amortized, less (d) any income tax effects related to differences between the book and tax basis of the properties involved. If capitalized costs exceed this limit, the excess is charged to earnings. Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 Given the volatility of crude oil and natural gas prices, it is reasonably possible that the estimate of discounted future net cash flows from proved crude oil and natural gas reserves could change in the near term. If crude oil and natural gas prices decline in the future, even if only for a short period of time, it is possible that additional impairments of crude oil and natural gas properties could occur. In addition, it is reasonably possible that additional impairments could occur if costs are incurred in excess of any increases in the present value of future net cash flows from proved crude oil and natural gas reserves, or if properties are sold for proceeds less than the discounted present value of the related proved crude oil and natural gas reserves. The crude oil and gas properties were fully depleted prior to July 31, 2019. During the year ended July 31, 2023, the Company reached an agreement with its former CEO to sell the Company’s interest in all of its crude oil and natural gas properties. The interest was sold on or around November 8, 2022. |
Revenue Recognition | Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Codification (“ ASC” |
Stock-Based Compensation | Stock-Based Compensation The Company accounts for all stock-based compensation using a fair value-based method. The fair value of equity-classified awards granted to employees is estimated on the date of the grant using the Black-Scholes option-pricing model and the related stock-based compensation expense is recognized over the vesting period during which an employee is required to provide service in exchange for the award. |
Intangible Assets | Intangible Assets The Company’s intangible assets include the Kanab.Club website, which was developed for external use. The Company carries these intangibles at cost, less accumulated amortization. Amortization is recorded on a straight-line basis over the estimated useful lives, estimated to be 5 |
Goodwill and Other Acquired Intangible Assets | Goodwill and Other Acquired Intangible Assets The Company initially records goodwill and other acquired intangible assets at their estimated fair values and reviews these assets periodically for impairment. Goodwill represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination and is tested at least annually for impairment, historically during our fourth quarter. Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 |
Derivative Liabilities | Derivative Liabilities The Company assessed the classification of its derivative financial instruments as of July 31, 2023 and 2022, which consist of convertible instruments and warrants in the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815. ASC 815 generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument subject to the requirements of ASC 815. ASC 815 also provides an exception to this rule when the host instrument is deemed to be conventional, as described. The Company uses judgment in determining the fair value of derivative liabilities at the date of issuance and at every balance sheet thereafter and in determining which valuation method is most appropriate for the instrument, the expected volatility, the implied risk-free interest rate, as well as the expected dividend rate, if any. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) – Accounting for Convertible Instruments and Contracts on an Entity’s Own Equity. The ASU simplifies accounting for convertible instruments by removing major separation models required under current GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features. The ASU removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for the exceptions. The ASU also simplifies the diluted net income per share calculation in certain areas. The new guidance is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and early adoption is permitted. The Company is currently evaluating the impact of the adoption of the standard on the consolidated financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES | The Company recognizes derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of July 31, 2023: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Total Level 1 Level 2 Level 3 Assets Investments 21,000 21,000 - - Total assets measured at fair value 21,000 21,000 - - Liabilities Derivative liability 680,946 - - 680,946 Total liabilities measured at fair value 680,946 - - 680,946 Himalaya Technologies, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS JULY 31, 2023 AND 2022 Assets and liabilities measured at fair value are as follows as of July 31, 2022: Total Level 1 Level 2 Level 3 Assets Total assets measured at fair value - - - - Liabilities Derivative liability 440,766 - - 440,766 Total liabilities measured at fair value 440,766 - - 440,766 |
ACQUISITION OF KANAB CORP (Tabl
ACQUISITION OF KANAB CORP (Tables) | 12 Months Ended |
Jul. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
SCHEDULE OF ACQUIRED INTANGIBLE ASSETS | The following summarizes the acquired intangible assets: SCHEDULE OF ACQUIRED INTANGIBLE ASSETS July 31, July 31, 2023 2022 Intangible assets $ 23,800 $ 17,800 Accumulated amortization (9,149 ) (4,462 ) Intangible assets- net $ 14,651 $ 13,338 |
INVESTMENTS (Tables)
INVESTMENTS (Tables) | 12 Months Ended |
Jul. 31, 2023 | |
Investments, All Other Investments [Abstract] | |
SCHEDULE OF COMPANY’S INVESTMENTS | The following summarizes the Company’s investments: SCHEDULE OF COMPANY’S INVESTMENTS 2023 2022 July 31, 2023 2022 GenBio, Inc. $ - $ 189,749 The Agrarian Group LLC - 119,841 Peer to Peer Network 21,000 - Investments $ 21,000 $ 309,590 |
CONVERTIBLE NOTE PAYABLES (Tabl
CONVERTIBLE NOTE PAYABLES (Tables) | 12 Months Ended |
Jul. 31, 2023 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF CONVERTIBLE NOTES OUTSTANDING | SCHEDULE OF CONVERTIBLE NOTES OUTSTANDING Lender Origination Maturity July 31, 2023 July 31, 2022 Interest GS Capital Partners LLC 6/29/21 6/29/22 $ 145,500 $ 151,500 24 % 1800 Diagonal Lending LLC 8/15/22 8/15/23 16,700 - 8 % 162,200 $ 151,500 |
SCHEDULE OF FAIR VALUE ASSUMPTION OF BLACK-SCHOLES MODEL | The variables used for the Black-Scholes model are as listed below: SCHEDULE OF FAIR VALUE ASSUMPTION OF BLACK-SCHOLES MODEL July 31,2023 July 31, 2022 ● Volatility: 333 Volatility: 355 ● Risk free rate of return: 5.40 Risk free rate of return: 2.98 ● Expected term: 1 Expected term: 1 |
STOCKHOLDERS _EQUITY (Tables)
STOCKHOLDERS ‘EQUITY (Tables) | 12 Months Ended |
Jul. 31, 2023 | |
Equity [Abstract] | |
SCHEDULE OF ASSUMPTIONS UTILIZED IN VALUING WARRANTS | The following are the assumptions utilized in valuing the warrants: SCHEDULE OF ASSUMPTIONS UTILIZED IN VALUING WARRANTS Volatility 465 % Expected life 5 years Risk free rate 3 % Dividend yield 0 % |
SCHEDULE OF PURCHASE WARRANTS OUTSTANDING | The following table sets forth common share purchase warrants outstanding as of July 31, 2023 and 2022: SCHEDULE OF PURCHASE WARRANTS OUTSTANDING Weighted Average Intrinsic Warrants Exercise Price Value Outstanding, July 31, 2021 65,000,000 0.0024 430,000 Warrants granted - - - Warrants exercised - - - Warrants forfeited - - - Outstanding, July 31, 2022 65,000,000 0.0024 105,000 Warrants granted - - - Warrants exercised (50,000,000 ) - - Warrants forfeited - - - Outstanding, July 31, 2023 15,000,000 $ 0.0024 $ - |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) | 12 Months Ended |
Jul. 31, 2023 USD ($) | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Revenues | $ 1,500 |
SCHEDULE OF FAIR VALUE OF ASSET
SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES (Details) - USD ($) | Jul. 31, 2023 | Jul. 31, 2022 |
Platform Operator, Crypto-Asset [Line Items] | ||
Investments | $ 21,000 | |
Total assets measured at fair value | 21,000 | |
Derivative liability | 680,946 | 440,766 |
Total liabilities measured at fair value | 680,946 | 440,766 |
Fair Value, Inputs, Level 1 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Investments | 21,000 | |
Total assets measured at fair value | 21,000 | |
Derivative liability | ||
Total liabilities measured at fair value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Investments | ||
Total assets measured at fair value | ||
Derivative liability | ||
Total liabilities measured at fair value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Investments | ||
Total assets measured at fair value | ||
Derivative liability | 680,946 | 440,766 |
Total liabilities measured at fair value | $ 680,946 | $ 440,766 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 12 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Income tax likelihood description | more than 50 percent likely |
Finite lived intangible asset useful life | 5 years |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 12 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 8,637,251 | $ 8,059,476 |
Working capital | 1,161,282 | |
Operating losses | $ 302,199 | $ 285,731 |
SCHEDULE OF ACQUIRED INTANGIBLE
SCHEDULE OF ACQUIRED INTANGIBLE ASSETS (Details) - USD ($) | Jul. 31, 2023 | Jul. 31, 2022 |
Business Acquisition [Line Items] | ||
Intangible assets- net | $ 14,651 | $ 13,338 |
Kanab Corp [Member] | ||
Business Acquisition [Line Items] | ||
Intangible assets | 23,800 | 17,800 |
Accumulated amortization | (9,149) | (4,462) |
Intangible assets- net | $ 14,651 | $ 13,338 |
ACQUISITION OF KANAB CORP (Deta
ACQUISITION OF KANAB CORP (Details Narrative) - Kanab Corp [Member] | Jul. 31, 2021 USD ($) shares |
Business Acquisition [Line Items] | |
Ownership percentage acquired | 100% |
Development costs period cost | $ | $ 11,500 |
Series B Preferred Stock [Member] | |
Business Acquisition [Line Items] | |
Shares issued for purchase of Kanab Corp, shares | shares | 300,000 |
SCHEDULE OF COMPANY_S INVESTMEN
SCHEDULE OF COMPANY’S INVESTMENTS (Details) - USD ($) | Jul. 31, 2023 | Jul. 31, 2022 |
Investments | $ 21,000 | $ 309,590 |
GenBio, Inc [Member] | ||
Investments | 189,749 | |
The Agrarian Group, LLC [Member] | ||
Investments | 119,841 | |
Peer to Peer Network [Member] | ||
Investments | $ 21,000 |
INVESTMENTS (Details Narrative)
INVESTMENTS (Details Narrative) - USD ($) | 12 Months Ended | ||||||
Jun. 12, 2023 | May 16, 2023 | Apr. 03, 2023 | Jan. 01, 2022 | Nov. 28, 2021 | Jul. 31, 2023 | Jul. 31, 2022 | |
Investment, value | $ 21,000 | $ 309,590 | |||||
Converted value of preferred shares | 64,609 | $ 127,997 | |||||
Fomo Worldwide Inc [Member] | |||||||
Investment, value | 21,000 | ||||||
Common stock purchased | 210,000,000 | ||||||
Fair value of investment | $ 63,000 | 63,000 | |||||
Loss on acquisition of investments | $ 37,800 | $ 37,800 | |||||
Series B Preferred Stock [Member] | |||||||
Stock issued during period shares new issues | 99,686 | ||||||
Series B Preferred Stock [Member] | Fomo Worldwide Inc [Member] | |||||||
Stock issued during period shares new issues | 100,000 | ||||||
Series A Preferred Stock [Member] | |||||||
Stock issued during period shares new issues | 1,680,000 | ||||||
Series A Preferred Stock [Member] | Fomo Worldwide Inc [Member] | |||||||
Stock issued during period shares new issues | 1,680,000 | ||||||
Converted value of preferred shares | $ 100,800 | $ 100,800 | |||||
GenBio, Inc [Member] | |||||||
Ownership percentage | 19.90% | ||||||
Stock issued during period shares new issues | 2,036,188 | ||||||
Stock price, per share | $ 0.0019 | ||||||
Common stock equivalents | 99,685,794 | ||||||
Investment, value | $ 189,749 | ||||||
GenBio, Inc [Member] | Series B Preferred Stock [Member] | |||||||
Ownership percentage | 19.90% | ||||||
Stock issued during period shares new issues | 99,686 | ||||||
Number of shares repurchased | 99,686 | ||||||
The Agrarian Group, LLC [Member] | |||||||
Ownership percentage | 19.90% | ||||||
Stock issued during period shares new issues | 1,242,000 | ||||||
Stock price, per share | $ 0.0012 | ||||||
Common stock equivalents | 99,868,000 | ||||||
Investment, value | $ 119,841 | ||||||
The Agrarian Group, LLC [Member] | Series B Preferred Stock [Member] | |||||||
Ownership percentage | 19.90% | ||||||
Stock issued during period shares new issues | 99,686 | ||||||
Number of shares repurchased | 99,686 | 99,686 | |||||
The Agrarian Group, LLC [Member] | Class A Membership Units [Member] | |||||||
Stock issued during period shares, exchanged | 1,242,000 |
LOANS PAYABLE DUE TO RELATED _2
LOANS PAYABLE DUE TO RELATED PARTIES (Details Narrative) - USD ($) | 12 Months Ended | |||||
May 10, 2023 | Nov. 28, 2021 | Jul. 31, 2023 | Jun. 15, 2023 | Jul. 31, 2022 | Jun. 28, 2021 | |
Series B Preferred Stock [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Number of shares issued | 99,686 | |||||
Kanab Corp [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Debt instrument, partial forgiveness | $ 17,017 | |||||
Percentage of return on acquired loaned business | 100% | |||||
Kanab Corp [Member] | Series B Preferred Stock [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Number of shares issued | 100,000 | |||||
Majority Shareholder [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Loan from affiliate | $ 96,400 | |||||
Majority Shareholder [Member] | Chief Executive Officer [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Loan from affiliate | 0 | 96,400 | ||||
Fomo Worldwide Inc [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Loan from affiliate | $ 58,174 | $ 38,222 | ||||
Loan received | $ 25,000 | |||||
Debt instrument conversion rate | 30% | |||||
Maturity date, description | due on December 25, 2021. This maturity has been extended, most recently on October 10, 2022, to December 31, 2023 | |||||
Kanab Corp [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Sale of stock | 100% |
SCHEDULE OF CONVERTIBLE NOTES O
SCHEDULE OF CONVERTIBLE NOTES OUTSTANDING (Details) - USD ($) | 12 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Short-Term Debt [Line Items] | ||
Convertible notes | $ 162,200 | $ 151,500 |
GS Capital Partners LLC [Member] | ||
Short-Term Debt [Line Items] | ||
Lender | GS Capital Partners LLC | |
Origination | Jun. 29, 2021 | |
Maturity | Jun. 29, 2022 | |
Convertible notes | $ 145,500 | 151,500 |
Interest | 24% | |
1800 Diagonal Lending LLC [Member] | ||
Short-Term Debt [Line Items] | ||
Lender | 1800 Diagonal Lending LLC | |
Origination | Aug. 15, 2022 | |
Maturity | Aug. 15, 2023 | |
Convertible notes | $ 16,700 | |
Interest | 8% |
SCHEDULE OF FAIR VALUE ASSUMPTI
SCHEDULE OF FAIR VALUE ASSUMPTION OF BLACK-SCHOLES MODEL (Details) | 12 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Measurement Input, Price Volatility [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt measurement input | 3.33 | 3.55 |
Measurement Input, Risk Free Interest Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Debt measurement input | 5.40 | 2.98 |
Measurement Input, Expected Term [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Expected term | 1 year | 1 year |
CONVERTIBLE NOTE PAYABLES (Deta
CONVERTIBLE NOTE PAYABLES (Details Narrative) - USD ($) | 12 Months Ended | ||
Aug. 15, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Short-Term Debt [Line Items] | |||
Interest and debt expense | $ 4,075 | ||
Third Party Lender [Member] | |||
Short-Term Debt [Line Items] | |||
Debt conversion of common stock, shares | 39,676,711 | 49,466,978 | |
Debt conversion of amount | $ 64,609 | $ 127,997 | |
Convertible Note Agreement [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 8% | ||
Debt conversion of common stock, shares | 34,221,311 | ||
Convertible debt | $ 39,250 | ||
Debt maturity date | Aug. 15, 2023 | ||
Debt instrument convertible threshold percentage | 61% | ||
GS Capital Partners LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 24% | ||
Debt conversion percentage | 60% | ||
Debt conversion of common stock, shares | 404,166,667 | ||
Debt maturity date | Jun. 29, 2022 | ||
Third Party One [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 10% | ||
Third Party Two [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 12% | ||
Third Party Three [Member] | |||
Short-Term Debt [Line Items] | |||
Debt interest rate | 22% | ||
1800 Diagonal Lending LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Amortization of debt discount premium | $ 4,250 |
SCHEDULE OF ASSUMPTIONS UTILIZE
SCHEDULE OF ASSUMPTIONS UTILIZED IN VALUING WARRANTS (Details) | Jul. 31, 2023 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Expected life | 5 years |
Measurement Input, Price Volatility [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants measurement input | 465 |
Measurement Input, Risk Free Interest Rate [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants measurement input | 3 |
Measurement Input, Expected Dividend Rate [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants measurement input | 0 |
SCHEDULE OF PURCHASE WARRANTS O
SCHEDULE OF PURCHASE WARRANTS OUTSTANDING (Details) - USD ($) | 12 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Equity [Abstract] | ||
Number of warrants, outstanding, balance, Beginning | 65,000,000 | 65,000,000 |
Weighted average exercise price, Beginning | $ 0.0024 | $ 0.0024 |
Weighted average intrinsic value, beginning | $ 105,000 | $ 430,000 |
Number of warrants, granted | ||
Weighted average exercise price, granted | ||
Number of warrants, exercised | (50,000,000) | |
Weighted average exercise price, exercised | ||
Number of warrants, forfeited | ||
Weighted average exercise price, forfeited | ||
Number of warrants, outstanding, balance, ending | 15,000,000 | 65,000,000 |
Weighted average exercise price, ending | $ 0.0024 | $ 0.0024 |
Weighted average intrinsic value, ending | $ 105,000 |
STOCKHOLDERS _EQUITY (Details N
STOCKHOLDERS ‘EQUITY (Details Narrative) - USD ($) | 12 Months Ended | |||||||||
Jun. 12, 2023 | May 16, 2023 | Apr. 03, 2023 | Jan. 01, 2022 | Nov. 28, 2021 | Jul. 31, 2023 | Jul. 31, 2022 | Jun. 29, 2021 | Jun. 28, 2021 | Jun. 22, 2021 | |
Class of Stock [Line Items] | ||||||||||
Converted value of preferred shares | $ 64,609 | $ 127,997 | ||||||||
Warrants and rights outstanding, term | 5 years | |||||||||
Issuance of stock and warrants | $ 90,000 | 129,200 | ||||||||
The Agrarian Group, LLC [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 1,242,000 | |||||||||
Ownership percentage | 19.90% | |||||||||
GenBio, Inc [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 2,036,188 | |||||||||
Ownership percentage | 19.90% | |||||||||
Fomo Worldwide Inc [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Fair value of investment | $ 63,000 | 63,000 | ||||||||
Loss on acquisition of investments | $ 37,800 | 37,800 | ||||||||
FOMOCROP [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Warrant issued | 50,000,000 | |||||||||
Warrants and rights outstanding, term | 5 years | |||||||||
Exercise price per share warrants | $ 0.0001 | |||||||||
GS Capital Group [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Warrant issued | 15,000,000 | |||||||||
Exercise price per share warrants | $ 0.01 | |||||||||
FOMO Advisors LLC [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Warrant issued | 50,000,000 | |||||||||
Warrants and rights outstanding, term | 5 years | |||||||||
Exercise price per share warrants | $ 0.0001 | |||||||||
Issuance of stock and warrants | $ 450,000 | |||||||||
Warrants recognized | 99,616 | |||||||||
Warrants unrecognized | $ 350,384 | |||||||||
Warrant purchased | 100,000,000 | |||||||||
Line of credit | $ 10,000 | |||||||||
Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized for future | 99,000,000 | 99,000,000 | ||||||||
Preferred Class A [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 130,000,000 | 130,000,000 | ||||||||
Conversion of common stock, shares | 50 | |||||||||
Preferred stock voting rights | voting rights of 1 vote per share | |||||||||
Preferred stock shares issued | 8,457,777 | 0 | ||||||||
Preferred stock, shares outstanding | 8,457,777 | 0 | ||||||||
Preferred stock shares votes | 422,888,850 | 0 | ||||||||
Preferred Class A [Member] | Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Converted value of preferred shares | ||||||||||
Preferred Class B [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | ||||||||
Conversion of common stock, shares | 1,000 | |||||||||
Preferred stock voting rights | voting rights of 1,000 votes per share | |||||||||
Preferred stock shares issued | 518,730 | 536,876 | ||||||||
Preferred stock, shares outstanding | 518,730 | 536,876 | ||||||||
Preferred stock shares votes | 518,730,000 | 536,876,000 | ||||||||
Number of new shares issued | 4,777,777 | |||||||||
Conversion of accrued compensation | $ 120,000 | $ 120,000 | ||||||||
Number of new shares issued for services | 99,686 | |||||||||
Preferred Class B [Member] | Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Converted value of preferred shares | ||||||||||
Number of new shares issued for services | 22,000 | |||||||||
Preferred Class C [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | ||||||||
Conversion of common stock, shares | 1 | |||||||||
Preferred stock voting rights | voting rights of 100,000 votes per share | |||||||||
Preferred stock shares issued | 1,000,000 | 1,000,000 | ||||||||
Preferred stock, shares outstanding | 1,000,000 | 1,000,000 | ||||||||
Preferred stock shares votes | 100,000,000,000 | 100,000,000,000 | ||||||||
Preferred Class C [Member] | Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Converted value of preferred shares | ||||||||||
Series A Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 1,680,000 | |||||||||
Series A Preferred Stock [Member] | FOMO World Wide [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number shares acquired | 210,000,000 | |||||||||
Series A Preferred Stock [Member] | Fomo Worldwide Inc [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 1,680,000 | |||||||||
Converted value of preferred shares | $ 100,800 | $ 100,800 | ||||||||
Series A Preferred Stock [Member] | FOMO Advisors LLC [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Warrant purchased | 2,000,000 | |||||||||
Series B Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 99,686 | |||||||||
Series B Preferred Stock [Member] | The Agrarian Group, LLC [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 99,686 | |||||||||
Number of shares repurchased | 99,686 | 99,686 | ||||||||
Ownership percentage | 19.90% | |||||||||
Series B Preferred Stock [Member] | GenBio, Inc [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 99,686 | |||||||||
Number of shares repurchased | 99,686 | |||||||||
Ownership percentage | 19.90% | |||||||||
Series B Preferred Stock [Member] | Fomo Worldwide Inc [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 100,000 | |||||||||
Common Stock [Member] | GenBio, Inc [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 2,036,188 | |||||||||
Third Party Lender [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Debt conversion of amount | $ 64,609 | $ 127,997 | ||||||||
Debt conversion of common stock, shares | 39,676,711 | 49,466,978 | ||||||||
Chief Executive Officer [Member] | Preferred Class B [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of new shares issued | 81,590 | 15,504 | ||||||||
Conversion of accrued compensation | $ 160,000 | $ 80,000 | ||||||||
Number of new shares issued for services | 22,000 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 12 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Aug. 01, 2021 | |
Preferred Class B [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Compensation expense | $ 120,000 | $ 120,000 | |
Chief Executive Officer [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Employee related liabilities | $ 10,000 | ||
Employee related liabilities noncurrent | 2,500 | ||
Employee related liabilities in shares, noncurrent | 7,500 | ||
Employee related liabilities current | 5,000 | ||
Employee related liabilities in shares current | $ 5,000 | ||
Chief Executive Officer [Member] | Preferred Class B [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Compensation expense | $ 160,000 | $ 80,000 |
SALE OF OIL AND GAS INTERESTS (
SALE OF OIL AND GAS INTERESTS (Details Narrative) - USD ($) | 12 Months Ended | ||
Nov. 08, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Gain on sale of oil and gas properties | $ 112,000 | $ 112,000 | |
Chief Executive Officer [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||
Sale of crude oil and natural gas properties | $ 112,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 12 Months Ended | ||||||
Oct. 02, 2023 | Sep. 28, 2023 | Sep. 26, 2023 | Sep. 08, 2023 | Aug. 01, 2023 | Jul. 31, 2023 | Jul. 31, 2022 | |
Common Stock [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Number of conversion of shares | 39,676,711 | 49,466,978 | |||||
Subsequent Event [Member] | 1800 Diagonal Lending LLC [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Compensation expense | $ 3,600 | ||||||
Subsequent Event [Member] | 1800 Diagonal Lending LLC [Member] | Common Stock [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Converison of stock, shares issued | 9,729,730 | ||||||
Subsequent Event [Member] | Chief Executive Officer [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Compensation expense | $ 2,500 | $ 2,500 | $ 5,000 | $ 10,000 | |||
Subsequent Event [Member] | Chief Executive Officer [Member] | Series A Preferred Stock [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Converison of stock, shares issued | 142,857 | 333,333 | |||||
Subsequent Event [Member] | Chief Executive Officer [Member] | Preferred Class A [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Converison of stock, shares issued | 68,571 | 62,500 | |||||
Subsequent Event [Member] | 1800 Diagonal Lending LLC [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Convertible debt | $ 4,500 | ||||||
Number of conversion of shares | 9,183,673 |