Cover
Cover - USD ($) | 12 Months Ended | ||
Jul. 31, 2022 | Nov. 14, 2022 | Jan. 31, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jul. 31, 2022 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Current Fiscal Year End Date | --07-31 | ||
Entity File Number | 000-54439 | ||
Entity Registrant Name | Hartford Great Health Corp. | ||
Entity Central Index Key | 0001482554 | ||
Entity Tax Identification Number | 51-0675116 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 8832 Glendon Way | ||
Entity Address, City or Town | Rosemead | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 91770 | ||
City Area Code | (626) | ||
Local Phone Number | 321-1915 | ||
Title of 12(b) Security | Common stock, par value $0.001 par value | ||
Trading Symbol | HFUS | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Elected Not To Use the Extended Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 5,002,840 | ||
Entity Common Stock, Shares Outstanding | 100,108,000 | ||
Auditor Name | Simon & Edward, LLP | ||
Auditor Firm ID | 2485 | ||
Auditor Location | Rowland Heights, California |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jul. 31, 2022 | Jul. 31, 2021 |
ASSETS | ||
Cash and cash equivalents | $ 15,227 | $ 12,739 |
Prepaid and Other current receivables | 1,154 | 1,203 |
Related party receivable | 14,233 | 309 |
Current assets held for sale | 784,113 | 975,837 |
Total Current Assets | 814,727 | 990,088 |
Non-current Assets | ||
Property and equipment, net | 8,006 | 8,357 |
Non-current assets held for sale | 3,715,623 | 4,744,153 |
Total Non-current Assets | 3,723,629 | 4,752,510 |
TOTAL ASSETS | 4,538,356 | 5,742,598 |
Current Liabilities | ||
Related party loan and payables | 4,481,524 | 3,711,606 |
Other current payable | 144,760 | 145,435 |
Current liabilities held for sale | 3,840,635 | 2,681,639 |
Total Current Liabilities | 8,466,919 | 6,538,680 |
Long-term liabilities held for sale | 2,504,086 | 4,190,368 |
TOTAL LIABILITIES | 10,971,005 | 10,729,048 |
Commitments and contingencies (Note 7) | ||
Stockholders’ Equity (Deficit) | ||
Preferred stock - $0.001 par value, 5,000,000 shares authorized, no shares issued and outstanding | ||
Common stock - $0.001 par value, 300,000,000 shares authorized, 100,108,000 shares outstanding at both of July 31, 2022 and 2021. | 100,108 | 100,108 |
Additional paid-in capital | 2,173,521 | 2,173,521 |
Accumulated deficit | (7,400,620) | (5,821,519) |
Accumulated other comprehensive loss | (16,742) | (233,487) |
Noncontrolling interest | (1,288,916) | (1,205,073) |
Total Stockholders’ Deficit | (6,432,649) | (4,986,450) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 4,538,356 | $ 5,742,598 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jul. 31, 2022 | Jul. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares outstanding | 100,108,000 | 100,108,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Total revenue | $ 561,262 | $ 553,459 |
Operating cost and expenses | ||
Cost of revenue | 677,093 | 722,838 |
Depreciation and amortization | 122,065 | 85,103 |
Selling, general and administrative | 1,635,770 | 2,691,369 |
Goodwill impairment | 70,514 | |
Total operating cost and expenses | 2,434,928 | 3,569,824 |
Operating Loss | (1,873,666) | (3,016,365) |
Other Income (Expense) | ||
Interest (expense), net | (66,587) | (30,886) |
Gain on disposal of subsidiary | 104,317 | |
Other income, net | 168,471 | 101,395 |
Other income, net | 101,884 | 174,826 |
Loss before income taxes | (1,771,782) | (2,841,539) |
Income Tax Expense | 800 | 800 |
Net Loss | (1,772,582) | (2,842,339) |
Less: net loss attributable to noncontrolling Interest | (193,481) | (589,005) |
Net Loss Attributable to Hartford Great Health Corp | $ (1,579,101) | $ (2,253,334) |
Net loss per common share: | ||
Basic and Diluted | $ (0.02) | $ (0.02) |
Weighted average shares outstanding: | ||
Basic and diluted | 100,108,000 | 99,790,192 |
Tuition [Member] | ||
Total revenue | $ 509,920 | $ 435,149 |
Service [Member] | ||
Total revenue | $ 51,342 | $ 118,310 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Statement [Abstract] | ||
Net Loss | $ (1,579,101) | $ (2,253,334) |
Other Comprehensive income (loss), net of income tax | ||
Foreign currency translation adjustments | 267,073 | (217,953) |
Total other comprehensive loss | 267,073 | (217,953) |
Less: total other comprehensive loss attributable to noncontrolling interest | 50,328 | (39,612) |
Total Other Comprehensive Loss Attributable to Hartford Great Health Corp | 216,745 | (178,341) |
Total Comprehensive Loss | $ (1,362,356) | $ (2,431,675) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Beginning balance, value at Jul. 31, 2020 | $ 99,108 | $ 2,154,521 | $ (3,568,185) | $ (55,146) | $ (917,489) | $ (2,287,191) |
Beginning balance, shares at Jul. 31, 2020 | 99,108,000 | |||||
Net (loss) | (2,253,334) | (589,005) | (2,842,339) | |||
Issuance of common stock | $ 1,000 | 19,000 | 20,000 | |||
Issuance of common stock, shares | 1,000,000 | |||||
Restructure of subsidiary | 403,131 | 403,131 | ||||
Disposal of subsidiary | (62,098) | (62,098) | ||||
Foreign currency translation adjustment | (178,341) | (39,612) | (217,953) | |||
Ending balance, value at Jul. 31, 2021 | $ 100,108 | 2,173,521 | (5,821,519) | (233,487) | (1,205,073) | (4,986,450) |
Ending balance, shares at Jul. 31, 2021 | 100,108,000 | |||||
Net (loss) | (1,579,101) | (193,481) | (1,772,582) | |||
Foreign currency translation adjustment | 216,745 | 50,328 | 267,073 | |||
Investment from noncontrolling interest | 59,310 | 59,310 | ||||
Ending balance, value at Jul. 31, 2022 | $ 100,108 | $ 2,173,521 | $ (7,400,620) | $ (16,742) | $ (1,288,916) | $ (6,432,649) |
Ending balance, shares at Jul. 31, 2022 | 100,108,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Cash flows from operating activities: | ||
Net loss including noncontrolling interests | $ (1,772,582) | $ (2,842,339) |
Adjustments to reconcile net loss including noncontrolling interests to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 122,065 | 85,103 |
Disposal of subsidiary, including noncontrolling interest | (104,316) | |
Debts forgiveness per court ruling | (162,806) | |
Loss from restructure | 403,131 | |
Loss on disposal of property and equipment | 760 | |
Impairment loss | 70,514 | |
Changes in operating assets and liabilities: | ||
Prepaid and Other current receivables | 225,428 | (87,978) |
Inventory | 5,327 | (299,588) |
Other assets | 24,078 | 10,435 |
Related party receivables and payables | (81,013) | (185,693) |
Contract liabilities | 26,466 | 373,413 |
Other current payable | 102,526 | 312,902 |
Operating lease assets and liabilities | 458,993 | 17,779 |
Other liabilities | 27,880 | 27,108 |
Net cash used in operating activities | (860,832) | (2,381,575) |
Cash flows from investing activities: | ||
Cash proceeds from Acquisitions | 27,927 | |
Cash used in Acquisitions | (15,206) | |
Disposal of subsidiary | (30,116) | |
Purchases of property and equipment | (145,048) | (168,287) |
Net cash used in investing activities | (145,048) | (185,682) |
Cash flows from financing activities: | ||
Contribution from noncontrolling interest | 61,750 | |
Proceeds from issuance of common stock | 20,000 | |
Proceeds of related party notes payable | 145,000 | 145,000 |
Principal payments on finance lease | (23,156) | (22,049) |
Advances from related parties | 788,673 | 2,407,033 |
Net cash provided by financing activities | 972,267 | 2,549,984 |
Effect of exchange rate changes on cash | (400) | 6,174 |
Net change in Cash, cash equivalents and restricted cash | (34,013) | (11,099) |
Cash, cash equivalents and restricted cash at beginning of period | 54,178 | 65,277 |
Cash, cash equivalents and restricted cash at end of period | 20,165 | 54,178 |
Supplemental Cash Flow Information | ||
Interest paid | ||
Income taxes paid | 800 | 800 |
Non-cash investing and financing activities: | ||
Payable to acquiree | 10,462 | |
Investment return through three-party settlement | $ 765,131 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This summary of significant accounting policies is presented to assist in understanding the Company’s financial statements. The financial statements and notes are the responsibility of the Company’s management. These accounting policies conform to accounting principles generally accepted in the United States of America (“US GAAP”) and have been consistently applied in the preparation of the financial statements. Organization Hartford Great Health Corp. was originally incorporated in the State of Nevada on April 2, 2008 under the name PhotoAmigo, Inc. It changed its name to Hartford Great Health Corp. on August 22, 2018 and since then we have been engaged in activities to formulate and implement our business plans. Through its wholly owned subsidiary - Hangzhou Hartford Comprehensive Health Management, Ltd (“HZHF) and HZHF’s 60 90 The Company started to engage in early childhood education industry at Hartford International Education Technology Co., Ltd (“HF Int’l Education”). On July 24, 2019 and March 23, 2020, HF Int’l Education established two 100 96 4 Impacted by the government regulation newly implemented in education industry and the restrictions posted by the Chinese government to control the pandemic in China since 2021, to avoid further operation losses, subsequently on August 1, 2022, HFSH entered a contract with a related party, Shanghai Oversea Chinese Culture Media Ltd. (“SH Oversea”), to sell 90 900 5,850 100 1,000 6,500 Basis of Presentation Use of Estimates Foreign Currency Comprehensive Income (loss) Fair value measurement Level 1 - Quoted prices in active markets for identical assets or liabilities or funds. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, related party receivable, prepaid and other current receivable, accounts payable, related party payable and other current payable. The carrying amounts of afore-mentioned accounts approximate fair value because of their short-term nature. Cash and Cash Equivalents 500,000 250,000 Receivables Property and equipment, net SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE Years Leasehold improvements Lesser of lease term or estimated useful life ROU assets-Finance lease Lease term Furniture and fixtures 3 5 Office equipment and vehicles 3 5 Computer software 3 5 Expenditures for repairs and maintenance are charged to expense as incurred. Goodwill and Long-lived Assets The Company has the option to assess goodwill for possible impairment by performing a qualitative analysis to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. The quantitative assessment considers whether the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is recorded to the extent that the reporting unit’s carrying value exceeds its fair value. The Company’s goodwill was mainly generated from the acquisitions during the year ended July 31, 2019. We currently have two reporting units - Hospitality and Early Childhood Education. Given the impact of COVID-19 pandemic and the unfavorable operation results, an interim goodwill impairment assessment was performed as of January 31, 2020. Based on the assessment result, management determined that the goodwill generated from acquisitions was fully impaired as of July 31, 2021. Business Combinations Noncontrolling interest Advertising costs 10,540 65,406 Income Taxes On December 22, 2017, the President of the United States signed into law the Tax Reform Act. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. In addition, the 2017 Tax Act also creates a new requirement that certain income (i.e., Global Intangible Low-Taxed Income (“GILTI”)) earned by controlled foreign corporations (“CFCs”) must be included in the gross income of the CFCs’ U.S. shareholder income. The tax law in PRC applies an income tax rate of 25% to all enterprises Revenue Recognition Revenue is recognized when control of promised goods or services is transferred to our customers in an amount of consideration to which we expect to be entitled to in exchange for those goods or services. We follow the five steps approach for revenue recognition under Topic 606: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) we satisfy a performance obligation. Billings to customers for which services are not rendered are considered deferred revenue. ASC 606 has no material impacts on the Company’s financial positions. The Company’s revenue is recognized when it satisfies a single performance obligation by transferring control of its products or providing services to a customer. The Company’s general payment terms are short-term in duration. The Company does not have significant financing components or payment terms. a. Early childhood education services: HF Int’l Education generates revenue from childhood education classes provided to its customers. The educational services consist of parent-child and bilingual childcare classes. Each contract of educational classes is accounted for as a single performance obligation which is satisfied proportionately over the service period. Tuition fee is generally collected in advance and is initially recorded as deferred revenue and transferred to contract liabilities after trial period. Refunds are provided to parents if they decide within the trial period that they no longer want to take the class. After the trial period, if a parent withdraws from a class, usually only that unearned portion of the fee is available to be returned. For the year ended July 31, 2022 and 2021, $ 509,920 435,149 b. Hospitality services: HZLJ generates revenue primarily from the room rentals, sale of food and beverage and other miscellaneous hospitality services. The Company recognizes room rental and services daily as services are provided. Under ASC 606, the pattern and timing of recognition of income from hotel facility is consistent with the prior accounting model. Income (Loss) Per Share Reclassifications Certain amounts on the prior-year consolidated balance sheet, consolidated statement of operations and cash flows were reclassified to conform to current-year presentation, with no effect on ending stockholders’ equity. Recent Accounting Pronouncements Recently adopted accounting pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes which is intended to simplify various aspects related to accounting for income taxes. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2020, with early adoption permitted. The adoption of ASU 2019-12 had an immaterial impact on the Company’s consolidated statement of operation and consolidated statement of cash flows for the year ended July 31, 2022. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses”. The standard, including subsequently issued amendments (ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10 and ASU 2019-11), requires a financial asset measured at amortized cost basis, such as accounts receivable and certain other financial assets, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies defined by the SEC to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is evaluating the impact of this guidance on its consolidated financial statements. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 2. GOING CONCERN The accompanying financial statements were prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of obligations in the normal course of business. However, Hartford Great Health Corp. has incurred losses since inception, resulting in an accumulated deficit of $ 7,400,620 In view of these matters, continuation as a going concern is dependent upon several factors, including the availability of debt or equity funding upon terms and conditions acceptable to Hartford Great Health Corp., and ultimately achieving profitable operations. Management believes that Hartford Great Health Corp.’s business plan provides it with an opportunity to continue as a going concern. However, management cannot provide assurance that Hartford Great Health Corp. will meet its objectives and be able to continue in operation. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of Hartford Great Health Corp. to continue as a going concern. |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 12 Months Ended |
Jul. 31, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | NOTE 3. STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 5,000,000 0.001 No Common Stock The Company is authorized to issue 300,000,000 0.001 1,000,000 0.02 100,108,000 |
ACQUISITIONS, JOINT VENTURES AN
ACQUISITIONS, JOINT VENTURES AND DECONSOLIDATION | 12 Months Ended |
Jul. 31, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
ACQUISITIONS, JOINT VENTURES AND DECONSOLIDATION | NOTE 4. ACQUISITIONS, JOINT VENTURES AND DECONSOLIDATION Joint Venture – HF Int’l Education On March 22, 2019, HFSH entered into a joint venture agreement (the “JV agreement”) with Shanghai Jingyu Education Tech Ltd. (“SH Jingyu”) and one individual investor, to form a new entity - HF Int’l Education to provide childcare education services. HFSH initially owned 65.0% 61.0% 10 5 As a result, HFSH held 75.5% of HF Int’l Education and a total of 24.5% equity was held by noncontrolling shareholders. Pursuant to the board meeting held on June 1, 2021, the noncontrolling shareholders sold a total 14.5% equity at zero consideration to HFSH. As a result, HFSH holds 90.0% of HF Int’l Education and $403,131 noncontrolling loss was absorbed by HFSH as a result of the ownership restructure at HF Int’l Education. Continuous operation losses caused by the market uncertainties including pandemic and government regulations, HF Int’l Education entered agreements to sell the copyrights of seven education textbooks and ten “HaiDeFuDe” registered trademarks owned for RMB 1.2 1.0 5% Operation result of HF Int’l Education are included in the Company’s consolidated financial statements commencing on the formation date. The Company classifies the ownership interest held by other four parties as “Noncontrolling interest” on the consolidated balance sheet. Acquisition of Gelinke On July 20, 2020, HF Int’l Education entered an agreement with two individuals to acquire the whole ownership of Gelinke, who engages at early childhood education services in Changning District, Shanghai. The results of operations of the acquired entities are included in the Company’s consolidated financial statements commencing on the acquisition date. The Company has recorded an allocation of purchase price to Gelinke’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair value at the acquisition date. The Company accounted the acquisition transaction in accordance with FASB ASC 805, Business Combinations, under acquisition accounting method. The related transaction costs were immaterial and included in General and administrative expenses in the accompanying consolidated statements of operations. The acquisition was completed on August 31, 2021. The calculation of purchase price and purchase price allocation is as follows: SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED Assets Acquired and Liabilities Assumed Cash and cash equivalents 1,809 Restricted Cash 25,009 Prepaid and Other current receivables 4,696 Property and Equipment, net 4,294 Unearned revenue (78,696 ) Goodwill 67,712 Total consideration * 24,824 * $ 10,462 70,000 14,362 100,000 24,824 Goodwill is mainly attributable to synergies expected from the acquisition of license, list of customers and teacher workforce. Due to unfavorable operation result of Gelinke during the year ended July 31, 2021, management determined that $ 67,712 Other Acquisitions In January and February 2019, HFSH entered agreements to acquire 85 55 In January 2019, HFSH entered agreements to acquire 100 Disposal of subsidiary On December 31, 2020, HFSH disposed its 90 4.5 0.5 Net assets (liabilities) disposed of: SCHEDULE OF NET ASSETS (LIABILITIES) DISPOSED OF SUBSIDIARY 1 Net assets (liabilities) disposed of: Cash and cash equivalents 172 Restricted cash 29,944 Related party receivable 782,224 Related party payable (98,615 ) Other current payable (3,876 ) Noncontrolling interest (60,812 ) Net assets of the subsidiary, excluding noncontrolling interest 649,037 Consideration 753,354 Gain on disposal of the subsidiary (104,317 ) Gain on disposal of noncontrolling interest (60,812 ) Gain on disposal of the subsidiary, excluding noncontrolling interest (43,505 ) Net inflow / (outflow) of cash and cash equivalents in respect of the disposal subsidiary: SCHEDULE OF NET INFLOW (OUTFLOW) OF CASH AND CASH EQUIVALENTS OF DISPOSAL SUBSIDIARY 1 Cash and cash equivalents (172 ) Restricted cash (29,944 ) Cash and cash equivalents deconsolidated (30,116 ) |
DISCONTINUED OPERATION
DISCONTINUED OPERATION | 12 Months Ended |
Jul. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISCONTINUED OPERATION | NOTE 5. DISCONTINUED OPERATION Impacted by the government regulation newly implemented in education industry and the restrictions posted by the Chinese government to control the pandemic in China since 2021, the Company’s business hasn’t been developed as planned and occurred significant loss from the early child education practice. To avoid further operation losses, subsequently on August 1, 2022, HFSH entered a contract with a related party, Shanghai Oversea Chinese Culture Media Ltd. (“SH Oversea”), to sell 90 900 5,850 100 1,000 6,500 As of July 31, 2022, the assets and liabilities grouped under Education and Hospitality segments classified as assets and/or liabilities held for sale, and it is the Company’s intention to complete the sales of these assets within the upcoming year. The transactions meet the criteria to be reported as a discontinued operation as they constitute significant strategic business shifts for the Company. We have reported, for all periods presented, the financial condition, results of operations, and cash flows of the operation segments as discontinued operations in the accompanying consolidated financial statements. The total assets and liabilities of Education and hospitality segments that are classified as held for sale on the Company ’ s consolidated balance sheet as of July 31, 2022, are as follows: SCHEDULE OF DISCONTINUED OPERATIONS OF FINANCIAL STATEMENTS July 31, 2022 July 31, 2021 Assets Current Assets Cash and cash equivalents $ 4,938 $ 14,873 Prepaid and Other current receivables 45,532 311,594 Related party receivable 428,519 325,555 Inventory 305,124 323,815 Property and equipment, net 582,707 585,160 ROU assets-operating lease 2,836,698 3,837,187 Other assets 296,218 321,806 Total Assets held for sale $ 4,499,736 $ 5,719,990 Liabilities Current Liabilities Related party loan and payables $ 1,321,549 $ 1,332,338 Contract liabilities 547,906 545,346 Lease liabilities, current and noncurrent 3,715,688 4,071,767 Other current payable 401,782 553,841 Other liabilities 357,796 368,715 Total Liabilities held for sale $ 6,344,721 $ 6,872,007 For the years ended July 31, 2022 and 2021, results of operations from HF Intel Education and its subsidiaries, and HZHF and its subsidiary were as follows: For the years ended July 31, 2022 2021 Net sales $ 561,262 $ 553,459 Cost of sales 677,093 722,838 Gross profit (115,831 ) (169,379 ) Operating expenses: Selling, general, and administrative expenses 1,579,922 2,520,817 Impairment - 70,514 Total operating expenses 1,579,922 2,591,331 Income (Loss) from discontinued operations before income taxes (1,695,753 ) (2,760,710 ) Income tax benefit (expense) - - Income (loss) from discontinued operations, net of taxes before gain from sale of discontinued operations (1,695,753 ) (2,760,710 ) Loss from sale of discontinued operations, net of taxes - - Income from discontinued operations, net of taxes $ (1,695,753 ) $ (2,760,710 ) For the years ended July 31, 2022 and 2021, net cash used in discontinued operations - HF Intel Education and its subsidiaries, and HZHF and its subsidiary were as follows: Years ended July 31, Cash flow of discontinued operations: 2022 2021 Operating cash flows $ (656,663 ) $ (4,695,107 ) Investing cash flows (145,048 ) (155,566 ) Net cash used in discontinued operations $ (801,711 ) $ (4,850,673 ) |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Jul. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6. RELATED PARTY TRANSACTIONS Related Party Receivables As of July 31, 2022, $ 428,519 325,555 Related Party Payables As of July 31, 2022 and 2021, amounts of $ 620,876 and $ 616,159 , are payable to SH Qiaohong, respectively. The balances were mainly funding support from SH Qiaohong for operation. The funding support bears no interest and due on demand. HFSH had payable balances to Shanghai Oversea Chinese Culture Media Ltd. (“SH Oversea”), an entity managed by the same management team, in the amounts of $ 3,531,064 2,926,782 As of July 31, 2022 and 2021, amount of $ 290,000 145,000 5 11,857 3,856 The remaining related party payable of $ 39,583 80,477 As of July 31, 2022, $ 1,317,690 and $ 1,332,338 Other Related Party Transactions Office space at Rosemead, CA is provided to Hartford Great Health Corp. at no cost by the sole executive officer. No provision for these costs has been included in these financial statements as the amounts are not material. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Jul. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7. COMMITMENTS AND CONTINGENCIES There has been below material contractual obligations and other commitments except the lease commitments disclosed in Note 12 Leases. License agreements In June 2021, HF Int’l Education and its three subsidiaries: PDHJ, HDFD and Gelinke entered license agreements with HFHM for the rights to use the intellectual Properties (the “IPs”) HFHM owns. The IPs cover in the license agreements are four set of curriculum structure designed and fifteen trademarks including “HaiDeFuDe” registered trademarks purchased from HF Int’l Education. As a return, on a monthly basis, HF Int’l Education and its subsidiaries pays 90% of its tuition revenue generated to HFHM as license usage fee. Due to impacts from the pandemic and new regulations issued by Chinese government in education industry, HF Int’l Education occurred significant loss from operation . On July 2022, both parties mutually agreed to amend the fee to 20 6,664 and $ 161,783 license fees to HFHM for the year ended July 31, 2022 and 2021 reported under discontinued operation, respectively. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 8. INCOME TAXES We recorded income tax expense of $ 800 Hartford Great Health Corp.’s deferred tax assets, valuation allowance, and change in valuation allowance are as follows: SCHEDULE OF INCOME TAX VALUATION Estimated tax Net NOL benefit from NOL Change in Net carry- NOL and other tax Valuation valuation deferred Period Ending forward expires benefits (21%) allowance allowance tax asset 31-Jul-21 $ 6,634,644 2041 $ 1,990,393 $ (1,990,393 ) $ (919,938 ) $ - 31-Jul-22 $ 7,400,620 2042 $ 2,220,186 $ (2,220,186 ) $ (229,793 ) $ - Income taxes at the statutory rate are reconciled to reported income tax expense (benefit) as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION 2022 2021 Federal income tax rate 21.0 % 21.0 % State income tax rate 8.8 % 8.8 % Foreign tax difference (4.8 )% (4.1 )% Non-taxable item adjustment - % (3.2 )% GILTI - % - % Valuation allowance (25.0 )% (22.5 )% Others - % - % Effective tax rate 0.0 % 0.0 % At this time, the Company is unable to determine if it will be able to benefit from its deferred tax asset. There are limitations on the utilization of net operating loss carry-forwards, including a requirement that losses be offset against future taxable income, if any. In addition, there are limitations imposed by certain transactions which are deemed to be ownership changes. Accordingly, a full valuation allowance has been established for the entire deferred tax asset. Other temporary differences and estimated permanent differences are considered immaterial. Open tax years subject to examination by the IRS range from August 1, 2017 to the present. The Company has no uncertain tax positions. The Company has been in loss position for years since inception and zero balances of deferred tax assets and liabilities as of the reporting periods ended. |
SEGMENT INFORMATION
SEGMENT INFORMATION | 12 Months Ended |
Jul. 31, 2022 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | NOTE 9. SEGMENT INFORMATION The Company currently operates in following industry segments: hospitality (hotel and travel agency) and early childhood education industry in China. Segment information on assets as of July 31, 2022 and revenue generated during the year ended July 31, 2022, as follows: SCHEDULE OF SEGMENT INFORMATION Hospitality (Discontinued Operation) Education (Discontinued Operation) Corporate and unallocated Total Revenue $ 51,342 $ 509,920 $ - $ 561,262 Operating loss (129,352 ) (1,566,401 ) (177,913 ) (1,873,666 ) Loss before tax (182,979 ) (1,399,172 ) (189,631 ) (1,771,782 ) Net Loss Attributable to Hartford Great Health Corp (129,422 ) (1,259,249 ) (190,430 ) (1,579,101 ) Total assets (excluding Intercompany balances) 303,703 4,196,033 38,620 4,538,356 Assets allocated to held for sale (303,703 ) (4,196,033 ) - (4,499,736 ) Segment information on assets as of July 31, 2021 and revenue generated during the year ended July 31, 2021, as follows: Hospitality (Discontinued Operation) Education (Discontinued Operation) Corporate and unallocated Total Revenue $ 118,309 $ 435,150 $ - $ 553,459 Operating loss (275,417 ) (2,588,174 ) (152,774 ) (3,016,365 ) Loss before tax 81,520 (2,764,798 ) (158,261 ) (2,841,539 ) Net Loss Attributable to Hartford Great Health Corp 121,966 (2,216,239 ) (159,061 ) (2,253,334 ) Total assets (excluding Intercompany balances) 388,688 5,441,654 (87,744 ) 5,742,598 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Jul. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 10. SUBSEQUENT EVENTS In accordance with ASC 855 , “Subsequent Events” On August 1, 2022, see note 5, under section “Assets and liabilities held for sale”, HFSH entered a contract with a related party, SH Oversea, to sell 90 900 5,850 100 1,000 6,500 On August 1, 2022, HFSH decided to withdraw from the agreement entered in January 2019 to acquire 100 On August 17, 2022, the Company borrowed a note in a total amount of $ 30,000 5 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Organization | Organization Hartford Great Health Corp. was originally incorporated in the State of Nevada on April 2, 2008 under the name PhotoAmigo, Inc. It changed its name to Hartford Great Health Corp. on August 22, 2018 and since then we have been engaged in activities to formulate and implement our business plans. Through its wholly owned subsidiary - Hangzhou Hartford Comprehensive Health Management, Ltd (“HZHF) and HZHF’s 60 90 The Company started to engage in early childhood education industry at Hartford International Education Technology Co., Ltd (“HF Int’l Education”). On July 24, 2019 and March 23, 2020, HF Int’l Education established two 100 96 4 Impacted by the government regulation newly implemented in education industry and the restrictions posted by the Chinese government to control the pandemic in China since 2021, to avoid further operation losses, subsequently on August 1, 2022, HFSH entered a contract with a related party, Shanghai Oversea Chinese Culture Media Ltd. (“SH Oversea”), to sell 90 900 5,850 100 1,000 6,500 |
Basis of Presentation | Basis of Presentation |
Use of Estimates | Use of Estimates |
Foreign Currency | Foreign Currency |
Comprehensive Income (loss) | Comprehensive Income (loss) |
Fair value measurement | Fair value measurement Level 1 - Quoted prices in active markets for identical assets or liabilities or funds. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, related party receivable, prepaid and other current receivable, accounts payable, related party payable and other current payable. The carrying amounts of afore-mentioned accounts approximate fair value because of their short-term nature. |
Cash and Cash Equivalents | Cash and Cash Equivalents 500,000 250,000 |
Receivables | Receivables |
Property and equipment, net | Property and equipment, net SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE Years Leasehold improvements Lesser of lease term or estimated useful life ROU assets-Finance lease Lease term Furniture and fixtures 3 5 Office equipment and vehicles 3 5 Computer software 3 5 Expenditures for repairs and maintenance are charged to expense as incurred. |
Goodwill and Long-lived Assets | Goodwill and Long-lived Assets The Company has the option to assess goodwill for possible impairment by performing a qualitative analysis to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. The quantitative assessment considers whether the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is recorded to the extent that the reporting unit’s carrying value exceeds its fair value. The Company’s goodwill was mainly generated from the acquisitions during the year ended July 31, 2019. We currently have two reporting units - Hospitality and Early Childhood Education. Given the impact of COVID-19 pandemic and the unfavorable operation results, an interim goodwill impairment assessment was performed as of January 31, 2020. Based on the assessment result, management determined that the goodwill generated from acquisitions was fully impaired as of July 31, 2021. |
Business Combinations | Business Combinations |
Noncontrolling interest | Noncontrolling interest |
Advertising costs | Advertising costs 10,540 65,406 |
Income Taxes | Income Taxes On December 22, 2017, the President of the United States signed into law the Tax Reform Act. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. In addition, the 2017 Tax Act also creates a new requirement that certain income (i.e., Global Intangible Low-Taxed Income (“GILTI”)) earned by controlled foreign corporations (“CFCs”) must be included in the gross income of the CFCs’ U.S. shareholder income. The tax law in PRC applies an income tax rate of 25% to all enterprises |
Revenue Recognition | Revenue Recognition Revenue is recognized when control of promised goods or services is transferred to our customers in an amount of consideration to which we expect to be entitled to in exchange for those goods or services. We follow the five steps approach for revenue recognition under Topic 606: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) we satisfy a performance obligation. Billings to customers for which services are not rendered are considered deferred revenue. ASC 606 has no material impacts on the Company’s financial positions. The Company’s revenue is recognized when it satisfies a single performance obligation by transferring control of its products or providing services to a customer. The Company’s general payment terms are short-term in duration. The Company does not have significant financing components or payment terms. a. Early childhood education services: HF Int’l Education generates revenue from childhood education classes provided to its customers. The educational services consist of parent-child and bilingual childcare classes. Each contract of educational classes is accounted for as a single performance obligation which is satisfied proportionately over the service period. Tuition fee is generally collected in advance and is initially recorded as deferred revenue and transferred to contract liabilities after trial period. Refunds are provided to parents if they decide within the trial period that they no longer want to take the class. After the trial period, if a parent withdraws from a class, usually only that unearned portion of the fee is available to be returned. For the year ended July 31, 2022 and 2021, $ 509,920 435,149 b. Hospitality services: HZLJ generates revenue primarily from the room rentals, sale of food and beverage and other miscellaneous hospitality services. The Company recognizes room rental and services daily as services are provided. Under ASC 606, the pattern and timing of recognition of income from hotel facility is consistent with the prior accounting model. |
Income (Loss) Per Share | Income (Loss) Per Share |
Reclassifications | Reclassifications Certain amounts on the prior-year consolidated balance sheet, consolidated statement of operations and cash flows were reclassified to conform to current-year presentation, with no effect on ending stockholders’ equity. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Recently adopted accounting pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes which is intended to simplify various aspects related to accounting for income taxes. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2020, with early adoption permitted. The adoption of ASU 2019-12 had an immaterial impact on the Company’s consolidated statement of operation and consolidated statement of cash flows for the year ended July 31, 2022. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses”. The standard, including subsequently issued amendments (ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-10 and ASU 2019-11), requires a financial asset measured at amortized cost basis, such as accounts receivable and certain other financial assets, to be presented at the net amount expected to be collected based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. In November 2019, the FASB issued ASU No. 2019-10 to postpone the effective date of ASU No. 2016-13 for public business entities eligible to be smaller reporting companies defined by the SEC to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is evaluating the impact of this guidance on its consolidated financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE | SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE Years Leasehold improvements Lesser of lease term or estimated useful life ROU assets-Finance lease Lease term Furniture and fixtures 3 5 Office equipment and vehicles 3 5 Computer software 3 5 |
ACQUISITIONS, JOINT VENTURES _2
ACQUISITIONS, JOINT VENTURES AND DECONSOLIDATION (Tables) | 12 Months Ended |
Jul. 31, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED | SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED Assets Acquired and Liabilities Assumed Cash and cash equivalents 1,809 Restricted Cash 25,009 Prepaid and Other current receivables 4,696 Property and Equipment, net 4,294 Unearned revenue (78,696 ) Goodwill 67,712 Total consideration * 24,824 * $ 10,462 70,000 14,362 100,000 24,824 |
SCHEDULE OF NET ASSETS (LIABILITIES) DISPOSED OF SUBSIDIARY | Net assets (liabilities) disposed of: SCHEDULE OF NET ASSETS (LIABILITIES) DISPOSED OF SUBSIDIARY 1 Net assets (liabilities) disposed of: Cash and cash equivalents 172 Restricted cash 29,944 Related party receivable 782,224 Related party payable (98,615 ) Other current payable (3,876 ) Noncontrolling interest (60,812 ) Net assets of the subsidiary, excluding noncontrolling interest 649,037 Consideration 753,354 Gain on disposal of the subsidiary (104,317 ) Gain on disposal of noncontrolling interest (60,812 ) Gain on disposal of the subsidiary, excluding noncontrolling interest (43,505 ) |
SCHEDULE OF NET INFLOW (OUTFLOW) OF CASH AND CASH EQUIVALENTS OF DISPOSAL SUBSIDIARY | Net inflow / (outflow) of cash and cash equivalents in respect of the disposal subsidiary: SCHEDULE OF NET INFLOW (OUTFLOW) OF CASH AND CASH EQUIVALENTS OF DISPOSAL SUBSIDIARY 1 Cash and cash equivalents (172 ) Restricted cash (29,944 ) Cash and cash equivalents deconsolidated (30,116 ) |
DISCONTINUED OPERATION (Tables)
DISCONTINUED OPERATION (Tables) | 12 Months Ended |
Jul. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
SCHEDULE OF DISCONTINUED OPERATIONS OF FINANCIAL STATEMENTS | The total assets and liabilities of Education and hospitality segments that are classified as held for sale on the Company ’ s consolidated balance sheet as of July 31, 2022, are as follows: SCHEDULE OF DISCONTINUED OPERATIONS OF FINANCIAL STATEMENTS July 31, 2022 July 31, 2021 Assets Current Assets Cash and cash equivalents $ 4,938 $ 14,873 Prepaid and Other current receivables 45,532 311,594 Related party receivable 428,519 325,555 Inventory 305,124 323,815 Property and equipment, net 582,707 585,160 ROU assets-operating lease 2,836,698 3,837,187 Other assets 296,218 321,806 Total Assets held for sale $ 4,499,736 $ 5,719,990 Liabilities Current Liabilities Related party loan and payables $ 1,321,549 $ 1,332,338 Contract liabilities 547,906 545,346 Lease liabilities, current and noncurrent 3,715,688 4,071,767 Other current payable 401,782 553,841 Other liabilities 357,796 368,715 Total Liabilities held for sale $ 6,344,721 $ 6,872,007 For the years ended July 31, 2022 and 2021, results of operations from HF Intel Education and its subsidiaries, and HZHF and its subsidiary were as follows: For the years ended July 31, 2022 2021 Net sales $ 561,262 $ 553,459 Cost of sales 677,093 722,838 Gross profit (115,831 ) (169,379 ) Operating expenses: Selling, general, and administrative expenses 1,579,922 2,520,817 Impairment - 70,514 Total operating expenses 1,579,922 2,591,331 Income (Loss) from discontinued operations before income taxes (1,695,753 ) (2,760,710 ) Income tax benefit (expense) - - Income (loss) from discontinued operations, net of taxes before gain from sale of discontinued operations (1,695,753 ) (2,760,710 ) Loss from sale of discontinued operations, net of taxes - - Income from discontinued operations, net of taxes $ (1,695,753 ) $ (2,760,710 ) For the years ended July 31, 2022 and 2021, net cash used in discontinued operations - HF Intel Education and its subsidiaries, and HZHF and its subsidiary were as follows: Years ended July 31, Cash flow of discontinued operations: 2022 2021 Operating cash flows $ (656,663 ) $ (4,695,107 ) Investing cash flows (145,048 ) (155,566 ) Net cash used in discontinued operations $ (801,711 ) $ (4,850,673 ) |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF INCOME TAX VALUATION | Hartford Great Health Corp.’s deferred tax assets, valuation allowance, and change in valuation allowance are as follows: SCHEDULE OF INCOME TAX VALUATION Estimated tax Net NOL benefit from NOL Change in Net carry- NOL and other tax Valuation valuation deferred Period Ending forward expires benefits (21%) allowance allowance tax asset 31-Jul-21 $ 6,634,644 2041 $ 1,990,393 $ (1,990,393 ) $ (919,938 ) $ - 31-Jul-22 $ 7,400,620 2042 $ 2,220,186 $ (2,220,186 ) $ (229,793 ) $ - |
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION | Income taxes at the statutory rate are reconciled to reported income tax expense (benefit) as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION 2022 2021 Federal income tax rate 21.0 % 21.0 % State income tax rate 8.8 % 8.8 % Foreign tax difference (4.8 )% (4.1 )% Non-taxable item adjustment - % (3.2 )% GILTI - % - % Valuation allowance (25.0 )% (22.5 )% Others - % - % Effective tax rate 0.0 % 0.0 % |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 12 Months Ended |
Jul. 31, 2022 | |
Segment Reporting [Abstract] | |
SCHEDULE OF SEGMENT INFORMATION | Segment information on assets as of July 31, 2022 and revenue generated during the year ended July 31, 2022, as follows: SCHEDULE OF SEGMENT INFORMATION Hospitality (Discontinued Operation) Education (Discontinued Operation) Corporate and unallocated Total Revenue $ 51,342 $ 509,920 $ - $ 561,262 Operating loss (129,352 ) (1,566,401 ) (177,913 ) (1,873,666 ) Loss before tax (182,979 ) (1,399,172 ) (189,631 ) (1,771,782 ) Net Loss Attributable to Hartford Great Health Corp (129,422 ) (1,259,249 ) (190,430 ) (1,579,101 ) Total assets (excluding Intercompany balances) 303,703 4,196,033 38,620 4,538,356 Assets allocated to held for sale (303,703 ) (4,196,033 ) - (4,499,736 ) Segment information on assets as of July 31, 2021 and revenue generated during the year ended July 31, 2021, as follows: Hospitality (Discontinued Operation) Education (Discontinued Operation) Corporate and unallocated Total Revenue $ 118,309 $ 435,150 $ - $ 553,459 Operating loss (275,417 ) (2,588,174 ) (152,774 ) (3,016,365 ) Loss before tax 81,520 (2,764,798 ) (158,261 ) (2,841,539 ) Net Loss Attributable to Hartford Great Health Corp 121,966 (2,216,239 ) (159,061 ) (2,253,334 ) Total assets (excluding Intercompany balances) 388,688 5,441,654 (87,744 ) 5,742,598 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT USEFUL LIFE (Details) | 12 Months Ended |
Jul. 31, 2022 | |
Leasehold Improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Description of estimated useful lives of property and equipment | Lesser of lease term or estimated useful life |
ROU Assets-Finance Lease [Member] | |
Property, Plant and Equipment [Line Items] | |
Description of estimated useful lives of property and equipment | Lease term |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
Office Equipment and Vehicles [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 3 years |
Office Equipment and Vehicles [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
Computer Software [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 3 years |
Computer Software [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 5 years |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 1 Months Ended | 12 Months Ended | ||||||||
Dec. 22, 2017 | Jul. 31, 2022 USD ($) | Jul. 31, 2021 USD ($) | Aug. 01, 2022 USD ($) | Aug. 01, 2022 CNY (¥) | Jul. 31, 2022 CNY (¥) | Aug. 31, 2021 | Dec. 31, 2020 | Mar. 23, 2020 | Jul. 24, 2019 | |
Product Information [Line Items] | ||||||||||
FDIC insured amount | $ 250,000 | |||||||||
Advertising cost | 10,540 | $ 65,406 | ||||||||
Income tax examination description | On December 22, 2017, the President of the United States signed into law the Tax Reform Act. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 35% to a flat 21% rate, effective January 1, 2018. In addition, the 2017 Tax Act also creates a new requirement that certain income (i.e., Global Intangible Low-Taxed Income (“GILTI”)) earned by controlled foreign corporations (“CFCs”) must be included in the gross income of the CFCs’ U.S. shareholder income. The tax law in PRC applies an income tax rate of 25% to all enterprises | |||||||||
Revenue | 561,262 | 553,459 | ||||||||
Early Childhood Education Services [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Revenue | $ 509,920 | $ 435,149 | ||||||||
People's Bank of China Financial Stability Bureau [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
FDIC insured amount | ¥ | ¥ 500,000 | |||||||||
Shanghai Jingyu Education Tech Ltd [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Equity ownership percentage | 4% | |||||||||
Shanghai Hongkou Hai De Fu De Childcare Co Ltd [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Equity ownership percentage | 100% | |||||||||
Pudong Haojin Childhood Education Ltd [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Equity ownership percentage | 100% | |||||||||
Shanghai HDFD Zhongli Education Technology Co Ltd [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Equity ownership percentage | 96% | |||||||||
Hangzhou Longjing Qiao Fu Vacation Hotel Co., Ltd. [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Business acquisition, percentage of voting interests acquired | 90% | 90% | 60% | |||||||
Hangzhou Longjing Qiao Fu Vacation Hotel Co., Ltd. [Member] | Subsequent Event [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Business acquisition, percentage of voting interests acquired | 90% | 90% | ||||||||
Shanghai Hartford Comprehensive Health Management, Ltd. [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Business acquisition, percentage of voting interests acquired | 90% | |||||||||
Hartford International Education Technology Co., Ltd [Member] | Subsequent Event [Member] | Shanghai Oversea [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Related party | $ 900 | ¥ 5,850 | ||||||||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Business acquisition, percentage of voting interests acquired | 90% | |||||||||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | Subsequent Event [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Business acquisition, percentage of voting interests acquired | 100% | 100% | ||||||||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | Subsequent Event [Member] | Shanghai Oversea [Member] | ||||||||||
Product Information [Line Items] | ||||||||||
Related party | $ 1,000 | ¥ 6,500 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Jul. 31, 2022 | Jul. 31, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 7,400,620 | $ 5,821,519 |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - $ / shares | Nov. 24, 2020 | Jul. 31, 2022 | Jul. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | |||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | |
Preferred stock, par value | $ 0.001 | $ 0.001 | |
Preferred stock, shares issued | 0 | 0 | |
Preferred stock, shares outstanding | 0 | 0 | |
Common stock, shares authorized | 300,000,000 | 300,000,000 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, shares issued | 100,108,000 | 100,108,000 | |
Common stock, shares outstanding | 100,108,000 | 100,108,000 | |
Shareholder [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Issuance of common stock, shares | 1,000,000 | ||
Share price | $ 0.02 |
SCHEDULE OF RECOGNIZED IDENTIFI
SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) - Shanghai Gelinke Childcare Education Center [Member] | Jul. 20, 2020 USD ($) | |
Business Acquisition [Line Items] | ||
Cash and cash equivalents | $ 1,809 | |
Restricted Cash | 25,009 | |
Prepaid and Other current receivables | 4,696 | |
Property and Equipment, net | 4,294 | |
Unearned revenue | (78,696) | |
Goodwill | 67,712 | |
Total consideration | $ 24,824 | [1] |
[1]$ 10,462 70,000 14,362 100,000 24,824 |
SCHEDULE OF RECOGNIZED IDENTI_2
SCHEDULE OF RECOGNIZED IDENTIFIED ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) (Parenthetical) - Jul. 20, 2020 - Shanghai Gelinke Childcare Education Center [Member] | USD ($) | CNY (¥) | |
Business Acquisition [Line Items] | |||
Purchase price | $ 10,462 | ¥ 70,000 | |
Cash payments to acquire business | 14,362 | ¥ 100,000 | |
Total consideration | [1] | $ 24,824 | |
[1]$ 10,462 70,000 14,362 100,000 24,824 |
SCHEDULE OF NET ASSETS (LIABILI
SCHEDULE OF NET ASSETS (LIABILITIES) DISPOSED OF SUBSIDIARY (Details) - Qiao Garden Intel Travel [Member] | Dec. 31, 2020 USD ($) |
Cash and cash equivalents | $ 172 |
Restricted cash | 29,944 |
Related party receivable | 782,224 |
Related party payable | (98,615) |
Other current payable | (3,876) |
Noncontrolling interest | (60,812) |
Net assets of the subsidiary, excluding noncontrolling interest | 649,037 |
Consideration | 753,354 |
Gain on disposal of the subsidiary | (104,317) |
Gain on disposal of noncontrolling interest | (60,812) |
Gain on disposal of the subsidiary, excluding noncontrolling interest | $ (43,505) |
SCHEDULE OF NET INFLOW (OUTFLOW
SCHEDULE OF NET INFLOW (OUTFLOW) OF CASH AND CASH EQUIVALENTS OF DISPOSAL SUBSIDIARY (Details) - Qiao Garden Intel Travel [Member] | Dec. 31, 2020 USD ($) |
Cash and cash equivalents | $ (172) |
Restricted cash | (29,944) |
Cash and cash equivalents deconsolidated | $ (30,116) |
ACQUISITIONS, JOINT VENTURES _3
ACQUISITIONS, JOINT VENTURES AND DECONSOLIDATION (Details Narrative) ¥ in Millions | 12 Months Ended | ||||||||
Dec. 31, 2020 CNY (¥) | Jul. 31, 2022 | Jul. 31, 2021 USD ($) | Mar. 31, 2021 | Jul. 31, 2020 | Jun. 19, 2020 CNY (¥) | Mar. 22, 2019 CNY (¥) | Feb. 28, 2019 | Jan. 31, 2019 | |
Business Acquisition [Line Items] | |||||||||
Noncontrolling shareholders, description | As a result, HFSH held 75.5% of HF Int’l Education and a total of 24.5% equity was held by noncontrolling shareholders. Pursuant to the board meeting held on June 1, 2021, the noncontrolling shareholders sold a total 14.5% equity at zero consideration to HFSH. As a result, HFSH holds 90.0% of HF Int’l Education and $403,131 noncontrolling loss was absorbed by HFSH as a result of the ownership restructure at HF Int’l Education. | ||||||||
Shanghai Gelinke Childcare Education Center [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Goodwill | $ | $ 67,712 | ||||||||
Shanghai Senior Health Consulting Ltd. [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business acquired ownership interest | 85% | 85% | |||||||
Shanghai Pasadena Ltd. [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business acquired ownership interest | 55% | 55% | |||||||
Shanghai Luo Sheng International Trade Ltd. [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business acquired ownership interest | 100% | ||||||||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Business acquired ownership interest | 90% | ||||||||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Investment from noncontrolling interest | ¥ 4.5 | ||||||||
Investment income | ¥ 0.5 | ||||||||
Shareholder [Member] | Hartford International Education Technology Co., Ltd [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Noncontrolling ownership interest | 61% | ||||||||
Joint Venture Agreement [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Joint venture acquired ownership interest | 65% | ||||||||
Joint Venture Agreement [Member] | Hartford International Education Technology Co., Ltd [Member] | Seven Education Textbooks [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Registered capital | ¥ 1.2 | ||||||||
Joint Venture Agreement [Member] | Hartford International Education Technology Co., Ltd [Member] | Ten HaiDeFuDe [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Registered capital | ¥ 1 | ||||||||
Joint Venture Agreement [Member] | Maximum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Registered capital | ¥ 10 | ||||||||
Joint Venture Agreement [Member] | Minimum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Registered capital | ¥ 5 | ||||||||
Joint Venture Agreement [Member] | Chief Executive Officer [Member] | Hartford International Education Technology Co., Ltd [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Joint venture acquired ownership interest | 5% |
SCHEDULE OF DISCONTINUED OPERAT
SCHEDULE OF DISCONTINUED OPERATIONS OF FINANCIAL STATEMENTS (Details) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Current Assets | ||
Related party receivable | $ 428,519 | $ 325,555 |
Current Liabilities | ||
Related party loan and payables | 1,317,690 | 1,332,338 |
Total Liabilities held for sale | 3,840,635 | 2,681,639 |
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | Hartford International Education Technology Co., Ltd [Member] | ||
Current Liabilities | ||
Net sales | 561,262 | 553,459 |
Cost of sales | 677,093 | 722,838 |
Gross profit | (115,831) | (169,379) |
Selling, general, and administrative expenses | 1,579,922 | 2,520,817 |
Impairment | 70,514 | |
Total operating expenses | 1,579,922 | 2,591,331 |
Income (Loss) from discontinued operations before income taxes | (1,695,753) | (2,760,710) |
Income tax benefit (expense) | ||
Income (loss) from discontinued operations, net of taxes before gain from sale of discontinued operations | (1,695,753) | (2,760,710) |
Loss from sale of discontinued operations, net of taxes | ||
Income from discontinued operations, net of taxes | (1,695,753) | (2,760,710) |
Cash flow of discontinued operations: | ||
Operating cash flows | (656,663) | (4,695,107) |
Investing cash flows | (145,048) | (155,566) |
Net cash used in discontinued operations | (801,711) | (4,850,673) |
Education and Hospitality Segments [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | ||
Current Assets | ||
Cash and cash equivalents | 4,938 | 14,873 |
Prepaid and Other current receivables | 45,532 | 311,594 |
Related party receivable | 428,519 | 325,555 |
Inventory | 305,124 | 323,815 |
Property and equipment, net | 582,707 | 585,160 |
ROU assets-operating lease | 2,836,698 | 3,837,187 |
Other assets | 296,218 | 321,806 |
Total Assets held for sale | 4,499,736 | 5,719,990 |
Current Liabilities | ||
Related party loan and payables | 1,321,549 | 1,332,338 |
Contract liabilities | 547,906 | 545,346 |
Lease liabilities, current and noncurrent | 3,715,688 | 4,071,767 |
Other current payable | 401,782 | 553,841 |
Other liabilities | 357,796 | 368,715 |
Total Liabilities held for sale | $ 6,344,721 | $ 6,872,007 |
DISCONTINUED OPERATION (Details
DISCONTINUED OPERATION (Details Narrative) | Aug. 01, 2022 USD ($) | Aug. 01, 2022 CNY (¥) | Dec. 31, 2020 |
Hangzhou Longjing Qiao Fu Vacation Hotel Co., Ltd. [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Business acquired ownership interest | 90% | 90% | 60% |
Hangzhou Longjing Qiao Fu Vacation Hotel Co., Ltd. [Member] | Subsequent Event [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Business acquired ownership interest | 90% | 90% | |
Hartford International Education Technology Co., Ltd [Member] | Subsequent Event [Member] | Shanghai Oversea [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Related party | $ 900 | ¥ 5,850 | |
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Business acquired ownership interest | 90% | ||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | Subsequent Event [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Business acquired ownership interest | 100% | 100% | |
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | Subsequent Event [Member] | Shanghai Oversea [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Related party | $ 1,000 | ¥ 6,500 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Related Party Transaction [Line Items] | ||
Related party receivable | $ 428,519 | $ 325,555 |
Accounts payable, related parties | 39,583 | 80,477 |
Related party loan and payables | 1,317,690 | 1,332,338 |
SHQiahong [Member] | ||
Related Party Transaction [Line Items] | ||
Accounts payable, related parties | 620,876 | 616,159 |
Shanghai Oversea Chinese Culture Media Ltd [Member] | ||
Related Party Transaction [Line Items] | ||
Accounts payable, related parties | 3,531,064 | 2,926,782 |
Hartford Hotel Investment Inc [Member] | ||
Related Party Transaction [Line Items] | ||
Short term debt | $ 290,000 | 145,000 |
Debt instrument, interest rate, stated percentage | 5% | |
Interest expense, related party | $ 11,857 | $ 3,856 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - Hartford International Education Technology Co., Ltd [Member] - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
License [Member] | ||
Product Liability Contingency [Line Items] | ||
Incrrued license fees | $ 6,664 | $ 161,783 |
Intellectual Properties [Member] | ||
Product Liability Contingency [Line Items] | ||
Licencse description | As a return, on a monthly basis, HF Int’l Education and its subsidiaries pays 90% of its tuition revenue generated to HFHM as license usage fee. Due to impacts from the pandemic and new regulations issued by Chinese government in education industry, HF Int’l Education occurred significant loss from operation | |
Amed fee percentage | 20% |
SCHEDULE OF INCOME TAX VALUATIO
SCHEDULE OF INCOME TAX VALUATION (Details) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Net NOL carry-forward | $ 7,400,620 | $ 6,634,644 |
NOL expires | 2042 | 2041 |
Estimated tax benefit from NOL and other tax benefits (21%) | $ 2,220,186 | $ 1,990,393 |
Valuation allowance | (2,220,186) | (1,990,393) |
Change in valuation allowance | (229,793) | (919,938) |
Net deferred tax asset |
SCHEDULE OF EFFECTIVE INCOME TA
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION (Details) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Federal income tax rate | 21% | 21% |
State income tax rate | 8.80% | 8.80% |
Foreign tax difference | (480.00%) | (410.00%) |
Non-taxable item adjustment | (3.20%) | |
GILTI | ||
Valuation allowance | (25.00%) | (22.50%) |
Others | ||
Effective tax rate | 0% | 0% |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Income tax expense | $ 800 | $ 800 |
SCHEDULE OF SEGMENT INFORMATION
SCHEDULE OF SEGMENT INFORMATION (Details) - USD ($) | 12 Months Ended | |
Jul. 31, 2022 | Jul. 31, 2021 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 561,262 | $ 553,459 |
Operating loss | (1,873,666) | (3,016,365) |
Loss before tax | (1,771,782) | (2,841,539) |
Net Loss Attributable to Hartford Great Health Corp | (1,579,101) | (2,253,334) |
Total assets (excluding Intercompany balances) | 4,538,356 | 5,742,598 |
Assets allocated to held for sale | (4,499,736) | |
Hospitality [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 51,342 | 118,309 |
Operating loss | (129,352) | (275,417) |
Loss before tax | (182,979) | 81,520 |
Net Loss Attributable to Hartford Great Health Corp | (129,422) | 121,966 |
Total assets (excluding Intercompany balances) | 303,703 | 388,688 |
Assets allocated to held for sale | (303,703) | |
Education [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 509,920 | 435,150 |
Operating loss | (1,566,401) | (2,588,174) |
Loss before tax | (1,399,172) | (2,764,798) |
Net Loss Attributable to Hartford Great Health Corp | (1,259,249) | (2,216,239) |
Total assets (excluding Intercompany balances) | 4,196,033 | 5,441,654 |
Assets allocated to held for sale | (4,196,033) | |
Corporate And Unallocated [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | ||
Operating loss | (177,913) | (152,774) |
Loss before tax | (189,631) | (158,261) |
Net Loss Attributable to Hartford Great Health Corp | (190,430) | (159,061) |
Total assets (excluding Intercompany balances) | 38,620 | $ (87,744) |
Assets allocated to held for sale |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) | Aug. 17, 2022 USD ($) | Aug. 01, 2022 USD ($) | Aug. 01, 2022 CNY (¥) | Dec. 31, 2020 |
Subsequent Event [Member] | Related Party [Member] | ||||
Subsequent Event [Line Items] | ||||
Short term debt | $ 30,000 | |||
Debt instrument, interest rate, stated percentage | 5% | |||
Subsequent Event [Member] | Shangai Luo Sheng International Trade Ltd [Member] | ||||
Subsequent Event [Line Items] | ||||
Equity method investment ownership, perentage | 100% | 100% | ||
Hangzhou Longjing Qiao Fu Vacation Hotel Co., Ltd. [Member] | ||||
Subsequent Event [Line Items] | ||||
Business acquisition, percentage of voting interests acquired | 90% | 90% | 60% | |
Hangzhou Longjing Qiao Fu Vacation Hotel Co., Ltd. [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Business acquisition, percentage of voting interests acquired | 90% | 90% | ||
Hartford International Education Technology Co., Ltd [Member] | Shanghai Oversea [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Related party | $ 900 | ¥ 5,850 | ||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | ||||
Subsequent Event [Line Items] | ||||
Business acquisition, percentage of voting interests acquired | 90% | |||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Business acquisition, percentage of voting interests acquired | 100% | 100% | ||
Hangzhou Hartford Comprehensive Health Management Ltd [Member] | Shanghai Oversea [Member] | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Related party | $ 1,000 | ¥ 6,500 |