Cover
Cover - shares | 3 Months Ended | |
Jan. 31, 2021 | Feb. 19, 2021 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jan. 31, 2021 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --10-31 | |
Entity File Number | 333-179212 | |
Entity Registrant Name | PUGET TECHNOLOGIES, INC. | |
Entity Central Index Key | 0001540615 | |
Entity Tax Identification Number | 01-0959140 | |
Entity Incorporation, State or Country Code | NV | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
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 | true | |
Entity Common Stock, Shares Outstanding | 4,745,728,041 |
BALANCE SHEET (Unaudited)
BALANCE SHEET (Unaudited) - USD ($) | Jan. 31, 2021 | Oct. 31, 2020 |
Current assets: | ||
Cash | $ 277 | $ 55 |
Total current assets | 277 | 55 |
Total assets | 277 | 55 |
Current liabilities: | ||
Accounts payable and accrued expenses | 24,395 | 36,971 |
Related Party Debt | 78,619 | 120,964 |
Current portion of Notes Payable | 0 | 99,674 |
Accrued interest on Current portion of Notes Payable | 0 | 66,538 |
Total current liabilities | 103,014 | 324,147 |
Long-term liabilities: | ||
Notes payable | 0 | 0 |
Total long-term liabilities | 0 | 0 |
Total liabilities | 103,014 | 324,147 |
Stockholders' Equity | ||
Common stock, $.001 par value; Authorized - 2020 - 4,990,000,000, 2019 - 2,990,000,000; Issued - 2020 - 3,545,540,022, 2019 - 843,490,790 | 4,745,728 | 3,545,540 |
Paid in Capital | 1,760,180 | 2,193,434 |
Accumulated deficit | (6,612,147) | (6,066,566) |
Total stockholders' equity (deficit) | (102,737) | (324,092) |
Total liabilities and stockholders' equity | 277 | 55 |
Series A Preferred Stock [Member] | ||
Stockholders' Equity | ||
Preferred stock value | 500 | 500 |
Series B Preferred Stock [Member] | ||
Stockholders' Equity | ||
Preferred stock value | $ 3,002 | $ 3,000 |
BALANCE SHEET (Parenthetical)
BALANCE SHEET (Parenthetical) - $ / shares | Jan. 31, 2021 | Oct. 31, 2020 |
Common stock, par value | $ .001 | $ .001 |
Common stock, shares authorized | 4,990,000,000 | 4,990,000,000 |
Common stock, shares issued | 4,745,728,041 | 3,545,540,022 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value | $ .001 | $ .001 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 500,000 | 500,000 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value | $ .001 | $ .001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 3,001,904 | 3,000,000 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Income Statement [Abstract] | ||
Sales | $ 0 | $ 0 |
Cost of Sales | 0 | 0 |
Gross profit | 0 | 0 |
Operations | ||
Interest expense | 257,677 | 8,180 |
Officer compensation | 240,038 | |
Management fees to related party | 30,500 | |
Wages accrued for officers | 0 | 90,000 |
Legal and professional fees | 12,500 | 0 |
Other general and administrative | 4,866 | 78 |
Total expenses | 545,581 | 98,258 |
(Loss) from operations | (545,581) | (98,258) |
Provision (credit) for taxes on income | 0 | 0 |
Net (loss) | $ (545,581) | $ (98,258) |
Weighted average number of shares outstanding | 4,411,756,358 | 843,490,790 |
Basic and diluted (loss) per common share | $ (0.000124) | $ (0.000116) |
Statements of Stockholders' Def
Statements of Stockholders' Deficit (Unaudited) - 3 months ended Jan. 31, 2021 - USD ($) | Common Stock | Preferred Stock A | Preferred Stock B | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, shares at Oct. 31, 2020 | 3,545,540,022 | |||||
Beginning balance, value at Oct. 31, 2020 | $ 3,545,540 | $ 500 | $ 3,000 | $ 2,193,434 | $ (6,066,566) | $ (324,092) |
Issued for AP conversion | 2 | 1,801 | 1,803 | |||
Issued for debt conversions, shares | 1,091,080,017 | |||||
Issued for debt conversions, value | $ 1,091,080 | (565,985) | 525,095 | |||
Issued for stock compensation, shares | 109,108,002 | |||||
Issued for stock compensation, value | $ 109,108 | 130,930 | 240,038 | |||
Net income (loss) | (545,581) | (545,581) | ||||
Ending balance, shares at Jan. 31, 2021 | 4,745,728,041 | |||||
Ending balance, value at Jan. 31, 2021 | $ 4,745,728 | $ 500 | $ 3,002 | $ 1,760,180 | $ (6,612,147) | $ (102,737) |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Cash flows from operating activities: | ||
Net (loss) | $ (545,581) | $ (98,258) |
Adjustments to reconcile net (loss) to cash provided (used) by developmental stage activities: | ||
Stock compensation | 240,038 | 0 |
Conversion Interest Expense | 241,847 | 0 |
Change in current assets and liabilities: | ||
Expenses paid by related parties | 6,494 | 25 |
Accounts payable and accrued expenses | (12,576) | 94,810 |
Net cash flows from operating activities | (69,778) | (3,423) |
Cash flows from financing activities: | ||
Proceeds from sale of common stock | 0 | |
Paid in capital | 0 | |
Advances from shareholders and related parties | 70,000 | 3,370 |
Proceeds/(Payment) of notes payable | 0 | 0 |
Net cash flows from financing activities | 70,000 | 3,370 |
Net cash flows | 222 | (53) |
Cash and equivalents, beginning of period | 55 | 97 |
Cash and equivalents, end of period | 277 | 44 |
Supplemental cash flow disclosures: | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Supplemental non-cash transaction disclosures: | ||
Shares issued for services | 240,038 | 0 |
Debt converted to equity | $ 766,936 | $ 76,931 |
Description of Business and Goi
Description of Business and Going Concern | 3 Months Ended |
Jan. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business and Going Concern | Note 1 Description of Business and Going Concern Puget Technologies, Inc. (the “Registrant”) is a publicly held corporation incorporated in the State of Nevada on March 17, 2010, and, since May 25, 2012, when its registration statement on Form S-1 pursuant to Section 5 of the Securities Act was declared effective by the Commission, has been subject to reporting requirements pursuant to Sections 13 and 15(d) of the Exchange Act. It was initially organized to engage in the distribution of luxury wool bedding products produced in Germany. Its principal executive offices, originally in Fort Lauderdale, Florida, are currently located at 1200 North Federal Highway, Suite 200-A; Boca Raton, Florida 33432. Description of Business The Registrant has never filed for bankruptcy, receivership or similar proceedings nor, since the date of the last annual report on Form 10-K filed (for the fiscal year 2014), has it been involved in any reclassification, merger, consolidation, or purchase or sale of a significant amount of assets not in the ordinary course of business. From 2015 until July of 2020, the Registrant was inactive as its prior management resigned leaving it indebted and without business operations. Consequently, during such period it lacked the funds required to comply with its reporting obligations under the Exchange Act. Since July of 2020, with the assistance of its Parent (“a person that directly or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the person specified”, Rule 405 of Commission Regulation C) and strategic consultant, Qest Consulting Group, Inc., a Colorado corporation (“Qest”), the Registrant has eliminated its convertible debt and resumed filing of reports to the Commission. Most of the Registrant’s efforts during the period from 2015 until July of 2020 involved first, repudiation of the series of 8% convertible notes issued by prior management under terms which current management considered toxic (the “Convertible Notes”) but, after the Registrant and its management were sued by two of the noteholders in the United States District Court for the Southern District of New York (Case No. 15-cv-08860 entitled Adar Bays LLC v Puget Technologies Inc. and Hermann Burckhardt Union Capital LLC v Puget Technologies Inc. and Herman Burckhardt On October 22, 2020, the Registrant entered into a retainer and consulting agreement with Qest (the “Qest Agreement”) and in conjunction therewith, in order to induce Qest to defer cash compensation, the Registrant’s officers and directors (who are also the principal stockholders, officers and directors of Qest), contributed all of their securities in the Registrant, including rights to compensation in the form of securities, to Qest. The terms of the Qest Agreement are summarized in Item 7 hereof, “Certain Relationships and Related Transactions, and Director Independence”). In conjunction with its role under the Qest Agreement, Qest advanced Registrant funds Registrant used to pay for auditing and legal fees in conjunction with its annual report, to pay balances due to the Registrant’s transfer agent and to settle remaining obligations under the Convertible Notes and is temporarily providing it with office space, utilities and the use of its personnel. During October of 2020, the Registrant, at the suggestion of Qest, decided to implement a new business model as a holding company operating through subsidiaries in four different albeit related areas. These primarily involve assisting promising operating companies to attain independent public company status. In order to properly implement the following described business plan, the Registrant’s current limited management has been directed to recruit conduct a nationwide search for new members of its Board of Directors and replacement officers prior to the next scheduled annual meeting of its stockholders currently anticipated for February of 2022. As disclosed in a current report filed by the Registrant with the Commission on January 15, 2021, Qest has recommended that the Registrant’s Board of Directors be expanded to nine or more members, at least three of whom should be independent so that audit and compensation committees could be implemented as envisioned by the Registrant’s articles of incorporation and bylaws. In terms of experience, Qest has recommended that the new board of directors continue to employ persons with investment banking and accounting experience but also with experience with mutual funds, the insurance industry, innovative technologies ( e.g. Caveat The foregoing plans and business models are speculative, totally reliant on the experience of the Registrant’s management and independent consultants and contractor’s to be recruited and retained by the Registrant, and on market conditions beyond the Registrant’s control, and, on the Registrant’s ability to obtain significant additional financing, as to which there can be no assurances. In addition, the Registrant is likely to encounter significant competition in its quest for desirable acquisition candidates and thereafter, even if successful, in the operations of the acquired companies. Consequently, no assurances can be provided that the Registrant’s ambitious current business plans can or will be implemented as envisioned, or that even if implemented, they will prove successful. Going concern and Liquidity Considerations The accompanying financial statements have been prepared assuming that Registrant will continue as a going concern which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of January 31, 2021, the Registrant had recurring losses from operations, an accumulated deficit of $6,612,147 and had earned no revenues except for a total of approximately $49,000 from previous now discontinued operations. The Registrant intends to fund operations through equity financing arrangements which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending October 31, 2021. The ability of the Registrant to emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings and to acquire one or more operating companies. These factors, among others, raise substantial doubt about the Registrant’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Jan. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 Summary of Significant Accounting Policies Basis of Presentation of Unaudited Interim Financial Statements The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the United States Securities and Exchange Commission (“Commission”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Registrant’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Registrant as of January 31, 2021 and the results of operations and cash flows for the periods presented. The results of operations for the quarterly period ended January 31, 2021 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited interim financial statements should be read in conjunction with the financial statements and related notes thereto included in the Registrant’s Annual Report on Form 10-K for the year ended October 31, 2020 filed with the Commission on February 12, 2021. Basic and Diluted Loss per Share The Registrant computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. Registrant has Preferred B shares which can convert to common shares at a rate 10 shares common for each Preferred B share. However since the inclusion of the effects of these potential conversions on the net loss per share would be anti-dilutive loss and diluted loss per share are equal. The total potential shares not included in the calculation are 30,019,040 as of January 31, 2021. Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued. The Registrant’s management believes that these recent pronouncements will not have a material effect on the Registrant’s unaudited interim financial statements. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Jan. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Related Party Transactions | Note 3. Related Party Transactions During the three month period ended January 31, 2021, the Registrant entered into the following transactions with related parties: Qest converted $46,844 of principal and $71,995 of accrued interest owed to it by the Registrant into 118,839,180 common shares. 109,108,002 common shares were issued to Qest as compensation under the Registrant’s employment agreement with its president, the rights to which have been assigned to Qest. Qest advanced $40,000 in cash and Registrant accrued $30,000 in contract fees in the quarter ended January 31, 2021. As of January 31, 2021 and October 31, 2020, there were $78,619 and $120,964 due to a related party, respectively. The Registrant’s officers and directors have agreed to suspend payment of their salaries as of the fiscal year ended October 31, 2020 until such time, if ever, as the Registrant’s income from operations provides adequate funds to pay such salaries and still comply with its other financial obligations. Thus officers’ salaries have not been accrued since such date. |
Notes Payable
Notes Payable | 3 Months Ended |
Jan. 31, 2021 | |
Notes Payable [Abstract] | |
Notes payable | Note 4. Notes Payable A summary of notes payable and accrued interest for three months ended January 31, 2021 is as follows: Adar LG Union Vis Vires TOTAL Notes Payable Balance 10/31/2020 $ 9,099 $ 21,256 $ 54,859 $ 14,460 $ 99,674 Conversions (8,966 ) (21,256 ) (54,859 ) — (85,081 ) Payments (133 ) — — (14,460 ) (14,593 ) Balance 1/31/2021 $ — $ — $ — $ — $ — Accrued Interest Balance 10/31/2020 $ 5,295 $ 31,274 $ 26,929 $ 3,040 $ 66,538 Conversions (5,295 ) (31,274 ) (26,929 ) — (63,498 ) Payments — — — (3,040 ) (3,040 ) Balance 1/31/2021 $ — $ — $ — $ — $ — Convertible Note Payable – Number 1 Adar On February 2, 2015, the Registrant issued an unsecured 8% Convertible Redeemable Note to Adar Bays LLC (Note Number 1), in the amount of $75,000, which was due January 30, 2016 with interest on the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise (Adar). The principal and any accrued interest was convertible into shares of common stock at the discretion of the note holder. The conversion price (the “Conversion Price”) was equal to 57.5% multiplied by the Market Price (as defined therein) (representing a discount rate of 42.5%). The Registrant had the right to prepay the note only during the initial 180 days. During 2015 a law suit was filed in the United States District Court for the Southern District of New York (Case No. 15-cv-08860 entitled Adar Bays LLC v Puget Technologies Inc. and Hermann Burckhardt At October 31, 2018 the Registrant had a balance principal balance owed under the note of $118,000 and accrued interest of $21,217. During fiscal 2019, 141,927,826 shares were issued to the holder to convert $8,736 in principal and $0.00 in accrued interest. Interest expense of $5,600 was recognized. At October 31, 2019, the Registrant had a balance principal balance owed of $9,099 and accrued interest of $5,295. During fiscal 2020, 2,112,921,739 shares were issued to the holder to convert $100,165 in principal and $27,122 in accrued interest. Interest expense of $5,600 was recognized. At October 31, 2020, the Registrant had a balance principal balance owed of $109,264 and accrued interest of $26,817. In the first quarter of fiscal 2021, 186,518,261 shares were issued to the holder to convert $9,099 in principal and $5,295 in accrued interest and a cash payment was made of $132.54. At January 31, 2021, the Registrant had a balance principal balance owed of $0 and accrued interest of $0. Over the course of this note, a total of 2,441,367,826 shares were issued and $132.54 was paid to cover $139,600 in principal and $32,417 of interest. Convertible Note Payable – Number 2 LG On February 2, 2015, the Registrant finalized a Convertible Redeemable Note with LG Capital Funding LLC (Note Number 2) in the amount of $53,500, which was due January 28, 2016 with interest on the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The principal and any accrued interest was convertible into shares of common stock at the discretion of the note holder. The conversion price (the “Conversion Price”) was equal to 54% multiplied by the Market Price (as defined therein) (representing a discount rate of 46%). The Registrant had the right to prepay the note only during the initial 180 days. At October 31, 2018 the Registrant had a balance principal balance owed of $21,256 and accrued interest of $19,594. During fiscal 2019, interest expense of $5,840 was recognized. At October 31, 2019, the Registrant had a balance principal balance owed of $21,256 and accrued interest of $25,434. During fiscal 2020, interest expense of $5,600 was recognized. At October 31, 2020, the Registrant had a balance principal balance owed of $21,256 and accrued interest of $31,274. In the first quarter of fiscal 2021, 52,530,000 shares were issued to the holder to convert $21,256 in principal and $31,274 in accrued interest. At January 31, 2021, the Registrant had a balance principal balance owed of $0 and accrued interest of $0. Over the course of this note, a total of 64,142,007 shares were issued to cover $53,500 in principal and $32,746 of interest. Convertible note payable – Number 4 Union The Registrant finalized an 8% Convertible Redeemable Note with Union Capital LLC (Note Number 4) in the amount of $75,000, which was due January 30, 2016 with interest on the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The principal and any accrued interest was convertible into shares of common stock at the discretion of the note holder. The conversion price (the “Conversion Price”) was equal to 57.5% multiplied by the Market Price (as defined in the note) representing a discount rate of 42.5%. The Registrant could only prepay the note during its initial 180 days. During 2015 a law suit was filed in the United States District Court for the Southern District of New York Case No. 15-cv-09542 entitled Union Capital LLC v Puget Technologies Inc. and Herman Burckhardt At October 31, 2018 the Registrant had a balance principal balance owed of $128,600 and accrued interest of $26,624. During fiscal 2019, 406,279,540 shares were issued to the holder to convert $60,400 in principal and $7,795 in accrued interest. Interest expense of $7,800 was recognized. At October 31, 2019, the Registrant had a balance principal balance owed of $68,200 and accrued interest of $26,629. During fiscal 2020, 343,486,654 shares were issued to the holder to convert $13,341 in principal and $6,410 in accrued interest. Interest expense of $6,710 was recognized. At October 31, 2020, the Registrant had a balance principal balance owed of $54,859 and accrued interest of $26,629. In the first quarter of fiscal 2021, 733,192,576 shares were issued to the holder to convert $54,859 in principal and $26,929 in accrued interest. At January 31, 2021, the Registrant had a balance principal balance owed of $0 and accrued interest of $0. Over the course of this note, a total of 1,515,989,330 shares were issued to cover $156,980 in principal and $42,741 of interest. Convertible note payable – Number 5 Vis Vires On February 27, 2015, the Registrant finalized a Convertible Promissory Note with Vis Vires Group, Inc. (Note Number 5) in the amount of $50,000, which was due December 3, 2015 with interest on the unpaid principal balance thereof at the rate of eight percent (8%) per annum until the same became due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The principal and any accrued interest was convertible into shares of common stock at the discretion of the note holder. The conversion price (the “Conversion Price”) was equal to 58% multiplied by the Market Price (as defined therein) representing a discount rate of 42%. The Registrant had the right to prepay the note only during the initial 180 days. At October 31, 2018 the Registrant had a balance principal balance owed of $14,460 and accrued interest of $3,040. During fiscal 2019, interest expense of $0 was recognized. At October 31, 2019, the Registrant had a balance principal balance owed of $14,460 and accrued interest of $3,040. During fiscal 2020, interest expense of $0 was recognized. At October 31, 2020, the Registrant had a balance principal balance owed of $14,460 and accrued interest of $3,040. In the first quarter of fiscal 2021, $17,500 was paid in cash to the holder to convert $14,460 in principal and $3,040 in accrued interest. At January 31, 2021, the Registrant had a balance principal balance owed of $0 and accrued interest of $0. Over the course of this note, a total of 12,087,383 shares were issued to cover $20,540 in principal, and $32,500 was paid in cash to cover $29,460 in principal and $3,040 of interest. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Jan. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 5. Subsequent Events The Registrant has evaluated all events that occurred after the balance sheet date through the date when the financial statements were issued to determine if they must be reported. There were no material subsequent events through February 19, 2021 which needed to be disclosed in the accompanying financial statements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Jan. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation of Unaudited Interim Financial Statements | Basis of Presentation of Unaudited Interim Financial Statements The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the United States Securities and Exchange Commission (“Commission”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Registrant’s management, the accompanying unaudited financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Registrant as of January 31, 2021 and the results of operations and cash flows for the periods presented. The results of operations for the quarterly period ended January 31, 2021 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited interim financial statements should be read in conjunction with the financial statements and related notes thereto included in the Registrant’s Annual Report on Form 10-K for the year ended October 31, 2020 filed with the Commission on February 12, 2021. |
Basic and Diluted Loss per Share | Basic and Diluted Loss per Share The Registrant computes loss per share in accordance with “ASC-260”, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted loss per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. Registrant has Preferred B shares which can convert to common shares at a rate 10 shares common for each Preferred B share. However since the inclusion of the effects of these potential conversions on the net loss per share would be anti-dilutive loss and diluted loss per share are equal. The total potential shares not included in the calculation are 30,019,040 as of January 31, 2021. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued. The Registrant’s management believes that these recent pronouncements will not have a material effect on the Registrant’s unaudited interim financial statements. |
Notes Payable (Tables)
Notes Payable (Tables) | 3 Months Ended |
Jan. 31, 2021 | |
Notes Payable [Abstract] | |
Schedule of notes payable | A summary of notes payable and accrued interest for three months ended January 31, 2021 is as follows: Adar LG Union Vis Vires TOTAL Notes Payable Balance 10/31/2020 $ 9,099 $ 21,256 $ 54,859 $ 14,460 $ 99,674 Conversions (8,966 ) (21,256 ) (54,859 ) — (85,081 ) Payments (133 ) — — (14,460 ) (14,593 ) Balance 1/31/2021 $ — $ — $ — $ — $ — Accrued Interest Balance 10/31/2020 $ 5,295 $ 31,274 $ 26,929 $ 3,040 $ 66,538 Conversions (5,295 ) (31,274 ) (26,929 ) — (63,498 ) Payments — — — (3,040 ) (3,040 ) Balance 1/31/2021 $ — $ — $ — $ — $ — |
Description of Business and G_2
Description of Business and Going Concern (Details Narrative) - USD ($) | 3 Months Ended | |
Jan. 31, 2021 | Oct. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ (6,612,147) | $ (6,066,566) |
Revenue from discontinued operations | $ 49,000 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) | 3 Months Ended |
Jan. 31, 2021shares | |
Accounting Policies [Abstract] | |
Anti dilutive shares | 30,019,040 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Oct. 31, 2020 | |
Debt conversion, amount | $ 85,081 | ||
Proceed from related party | 70,000 | $ 3,370 | |
Due to related party | $ 78,619 | $ 120,964 | |
Qest [Member] | |||
Debt conversion, shares issued | 118,839,180 | ||
Proceed from related party | $ 40,000 | ||
Contract fees | $ 30,000 | ||
Qest [Member] | Registrant's Employment Agreement [Member] | |||
Share issued for compensation | 109,108,002 | ||
Qest [Member] | Principal [Member] | |||
Debt conversion, amount | $ 46,844 | ||
Qest [Member] | Accrued Interest [Member] | |||
Debt conversion, amount | $ 71,995 |
Notes Payable (Details)
Notes Payable (Details) | 3 Months Ended |
Jan. 31, 2021USD ($) | |
Notes Payable, Beginning | $ 99,674 |
Conversions | (85,081) |
Payments | (14,593) |
Notes Payable, Ending | 0 |
Accrued Interest, Beginning | 66,538 |
Conversions | (63,498) |
Payments | (3,040) |
Accrued Interest, Ending | 0 |
Adar [Member] | |
Notes Payable, Beginning | 9,099 |
Conversions | (8,966) |
Payments | (133) |
Notes Payable, Ending | 0 |
Accrued Interest, Beginning | 5,295 |
Conversions | (5,295) |
Payments | 0 |
Accrued Interest, Ending | 0 |
LG [Member] | |
Notes Payable, Beginning | 21,256 |
Conversions | (21,256) |
Payments | 0 |
Notes Payable, Ending | 0 |
Accrued Interest, Beginning | 31,274 |
Conversions | (31,274) |
Payments | 0 |
Accrued Interest, Ending | 0 |
Union [Member] | |
Notes Payable, Beginning | 54,859 |
Conversions | (54,859) |
Payments | 0 |
Notes Payable, Ending | 0 |
Accrued Interest, Beginning | 26,929 |
Conversions | (26,929) |
Payments | 0 |
Accrued Interest, Ending | 0 |
Vis Vires [Member] | |
Notes Payable, Beginning | 14,460 |
Conversions | 0 |
Payments | (14,460) |
Notes Payable, Ending | 0 |
Accrued Interest, Beginning | 3,040 |
Conversions | 0 |
Payments | (3,040) |
Accrued Interest, Ending | $ 0 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Feb. 27, 2015 | Feb. 02, 2015 | Jan. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Notes payable | $ 0 | $ 99,674 | ||||
Accrued interest | 0 | 66,538 | ||||
Debt conversion, principal amount | 85,081 | |||||
Debt conversion, accrued interest | 63,498 | |||||
Repayment of related party debt | $ 14,593 | |||||
Qest [Member] | ||||||
Debt conversion, shares issued | 118,839,180 | |||||
Adar [Member] | ||||||
Notes payable | $ 0 | 9,099 | ||||
Accrued interest | 0 | 5,295 | ||||
Debt conversion, principal amount | 8,966 | |||||
Debt conversion, accrued interest | 5,295 | |||||
Repayment of related party debt | $ 133 | |||||
Adar [Member] | ||||||
Debt conversion, shares issued | 2,441,367,826 | |||||
Debt conversion, principal amount | $ 139,600 | |||||
Debt conversion, accrued interest | 32,417 | |||||
Repayment of related party debt | 133 | |||||
LG [Member] | ||||||
Notes payable | 0 | 21,256 | ||||
Accrued interest | 0 | 31,274 | ||||
Debt conversion, principal amount | 21,256 | |||||
Debt conversion, accrued interest | 31,274 | |||||
Repayment of related party debt | $ 0 | |||||
LG [Member] | ||||||
Debt conversion, shares issued | 64,142,007 | |||||
Debt conversion, principal amount | $ 53,500 | |||||
Debt conversion, accrued interest | 32,746 | |||||
Union [Member] | ||||||
Notes payable | 0 | 54,859 | ||||
Accrued interest | 0 | 26,929 | ||||
Debt conversion, principal amount | 54,859 | |||||
Debt conversion, accrued interest | 26,929 | |||||
Repayment of related party debt | $ 0 | |||||
Union [Member] | ||||||
Debt conversion, shares issued | 1,515,989,330 | |||||
Debt conversion, principal amount | $ 156,980 | |||||
Debt conversion, accrued interest | 42,741 | |||||
Vis Vires [Member] | ||||||
Notes payable | 0 | 14,460 | ||||
Accrued interest | 0 | 3,040 | ||||
Debt conversion, principal amount | 0 | |||||
Debt conversion, accrued interest | 0 | |||||
Repayment of related party debt | $ 14,460 | |||||
Vis Vires [Member] | ||||||
Debt conversion, shares issued | 12,087,383 | |||||
Debt conversion, principal amount | $ 20,540 | |||||
Repayment of related party debt | 32,500 | |||||
Unsecured 8% Convertible Redeemable Note [Member] | Adar [Member] | ||||||
Principal amount | $ 75,000 | |||||
Maturity date | Jan. 30, 2016 | |||||
Interest rate | 8.00% | |||||
Due to related parties | $ 64,600 | |||||
Notes payable | 0 | 109,264 | $ 9,099 | $ 118,000 | ||
Accrued interest | $ 0 | $ 26,817 | $ 5,295 | 21,217 | ||
Debt conversion, shares issued | 186,518,261 | 2,112,921,739 | 141,927,826 | |||
Debt conversion, principal amount | $ 9,099 | $ 100,165 | $ 8,736 | |||
Debt conversion, accrued interest | 5,295 | 27,122 | 0 | |||
Interest expense | 5,600 | 5,600 | ||||
Repayment of related party debt | 133 | 133 | ||||
8% Convertible Note [Member] | LG [Member] | ||||||
Principal amount | $ 53,500 | |||||
Maturity date | Jan. 28, 2016 | |||||
Interest rate | 8.00% | |||||
Notes payable | 0 | 21,256 | 21,256 | 21,256 | ||
Accrued interest | $ 0 | 31,274 | 25,434 | 19,594 | ||
Debt conversion, shares issued | 52,530,000 | |||||
Debt conversion, principal amount | $ 21,256 | |||||
Debt conversion, accrued interest | 31,274 | |||||
Interest expense | 5,600 | 5,840 | ||||
8% Convertible Note [Member] | Union [Member] | ||||||
Principal amount | $ 75,000 | |||||
Maturity date | Jan. 30, 2016 | |||||
Interest rate | 8.00% | |||||
Due to related parties | $ 81,980 | |||||
Notes payable | 0 | 54,859 | 68,200 | 128,600 | ||
Accrued interest | $ 0 | $ 26,629 | $ 26,629 | 26,624 | ||
Debt conversion, shares issued | 1,027 | 733,192,576 | 343,486,654 | 406,279,540 | ||
Debt conversion, principal amount | $ 54,859 | $ 13,341 | $ 60,400 | |||
Debt conversion, accrued interest | 26,929 | 6,410 | 7,795 | |||
Interest expense | 6,710 | 7,800 | ||||
Repayment of related party debt | $ 8,000 | |||||
8% Convertible Note [Member] | Union [Member] | Qest [Member] | ||||||
Debt conversion, shares issued | 4,998,973 | |||||
8% Convertible Note [Member] | Vis Vires [Member] | ||||||
Principal amount | $ 50,000 | |||||
Maturity date | Dec. 3, 2015 | |||||
Interest rate | 8.00% | |||||
Notes payable | 0 | 14,460 | 14,460 | 14,460 | ||
Accrued interest | 0 | 3,040 | 3,040 | $ 3,040 | ||
Debt conversion, principal amount | 14,460 | |||||
Debt conversion, accrued interest | 3,040 | |||||
Interest expense | $ 0 | $ 0 | ||||
Repayment of related party debt | $ 17,500 |