Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Jan. 31, 2023 | Mar. 31, 2023 | |
Details | ||
Registrant CIK | 0001551887 | |
Fiscal Year End | --10-31 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jan. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 000-54800 | |
Entity Registrant Name | DUESENBERG TECHNOLOGIES INC. | |
Entity Incorporation, State or Country Code | A1 | |
Entity Tax Identification Number | 99-0364150 | |
Entity Address, Address Line One | No 21, Denai Endau 3, Seri Tanjung, Pinang | |
Entity Address, Postal Zip Code | 10470 | |
Entity Address, City or Town | Tanjung Tokong | |
Entity Address, Country | MY | |
City Area Code | 236 | |
Local Phone Number | 304-0299 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 61,477,632 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Jan. 31, 2023 | Oct. 31, 2022 |
Current assets | ||
Cash | $ 47,362 | $ 253,002 |
Receivables | 976 | 1,182 |
Prepaids | 17,610 | 32,708 |
Total current assets | 65,948 | 286,892 |
Equipment | 240 | 517 |
Total assets | 66,188 | 287,409 |
Current liabilities | ||
Accounts payable | 559,400 | 547,483 |
Accrued liabilities | 33,999 | 28,770 |
Due to related parties, current | 394,390 | 695,755 |
Notes payable | 76,974 | 105,284 |
Total liabilities | 1,064,763 | 1,377,292 |
Stockholders' deficit | ||
Common stock, no par value, unlimited number authorized, 61,144,298 and 58,444,835 issued and outstanding at January 31, 2023 and October 31, 2022, respectively | 11,064,200 | 10,419,029 |
Additional paid-in capital | (101,172) | (101,172) |
Obligation to issue shares | 28,290 | 0 |
Accumulated other comprehensive loss | (92,746) | (93,419) |
Deficit | (11,897,147) | (11,314,321) |
Total stockholders' deficit | (998,575) | (1,089,883) |
Total liabilities and stockholders' deficit | $ 66,188 | $ 287,409 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS - Parenthetical - $ / shares | Jan. 31, 2023 | Oct. 31, 2022 |
CONDENSED CONSOLIDATED BALANCE SHEETS | ||
Common Stock, Par or Stated Value Per Share | $ 0 | $ 0 |
Common Stock, Shares, Issued | 61,144,298 | 58,444,835 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||
Revenues | $ 0 | $ 9,475 |
Operating expenses | ||
Accounting | 23,304 | 6,539 |
Amortization | 319 | 339 |
General and administrative expenses | 23,334 | 31,495 |
Management fees | 18,000 | 18,000 |
Professional fees | 1,878 | 4,780 |
Regulatory and filing | 7,685 | 3,884 |
Research and development costs | 45,533 | 192,025 |
Salaries and wages | 100,154 | 119,267 |
Travel and entertainment | 15,698 | 0 |
Total operating expenses | (235,905) | (376,329) |
Other items | ||
Gain (loss) on foreign exchange | (3,286) | (2,142) |
Interest expense | (2,447) | (1,448) |
Gain (loss) on debt settlement, other | (341,188) | 0 |
Net income (loss) | (582,826) | (370,444) |
Translation to reporting currency | 673 | 6,094 |
Comprehensive loss | $ (270,589) | $ (364,350) |
Loss per share - basic and diluted | $ (0.01) | $ (0.01) |
Weighted average number of shares outstanding | 59,442,463 | 45,616,043 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) | Common Stock | Obligation to Issue Stock | Additional Paid-in Capital | AOCI Attributable to Parent | Retained Earnings | Total |
Equity Balance at Oct. 31, 2021 | $ 8,503,314 | $ 76,950 | $ (111,119) | $ 26,838 | $ (9,457,922) | $ (961,939) |
Equity Balance, Shares at Oct. 31, 2021 | 45,616,043 | |||||
Translation to reporting currency | $ 0 | 0 | 0 | 6,094 | 0 | 6,094 |
Net loss for the period | 0 | 0 | 0 | 0 | (370,444) | (370,444) |
Equity Balance at Jan. 31, 2022 | $ 8,503,314 | 76,950 | (111,119) | 32,932 | (9,828,366) | (1,326,289) |
Equity Balance, Shares at Jan. 31, 2022 | 45,616,043 | |||||
Equity Balance at Oct. 31, 2022 | $ 10,419,029 | 0 | (101,172) | (93,419) | (11,314,321) | (1,089,883) |
Equity Balance, Shares at Oct. 31, 2022 | 58,444,835 | |||||
Translation to reporting currency | $ 0 | 0 | 0 | 673 | 0 | 673 |
Net loss for the period | 0 | 0 | 0 | 0 | (582,826) | (582,826) |
Equity Balance at Jan. 31, 2023 | $ 11,064,200 | 28,290 | (101,172) | (92,746) | (11,897,147) | (998,575) |
Equity Balance, Shares at Jan. 31, 2023 | 61,144,298 | |||||
Stock issued for debt, value | $ 645,171 | 0 | 0 | 0 | 0 | 645,171 |
Stock issued for debt, shares | 2,699,463 | |||||
Stock issued for private placements, value | $ 0 | $ 28,290 | $ 0 | $ 0 | $ 0 | $ 28,290 |
Stock issued for private placements, shares | 0 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) | 3 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Cash flow used in in operating activities | ||
Net income (loss) | $ (582,826) | $ (370,444) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Accrued interest on notes payable, related party notes | 1,163 | 0 |
Accrued interest on long-term debt | 1,284 | 1,448 |
Amortization | 319 | 339 |
Gain (loss) on debt settlement | 341,188 | 0 |
Foreign exchange | 3,953 | 3,156 |
Changes in operating assets and liabilities | ||
Increase (decrease) in Receivables | 227 | (314) |
Increase (decrease) in Prepaids | 15,560 | (12,041) |
Increase (decrease) in Accounts payable and accrued liabilities | 6,488 | 37,365 |
Increase (decrease) in Due to related parties | (50,352) | 204,224 |
Increase (decrease) in Accrued salaries | 24,536 | 117,000 |
Net cash used in operating activities | (238,460) | (19,267) |
Cash flows provided by financing activities | ||
Proceeds from sale of stock | 28,290 | 0 |
Proceeds from related party debt | 0 | 14,220 |
Net cash provided by financing activities | 28,290 | 14,220 |
Effect of exchange rate changes on cash | 4,530 | (6) |
Net decrease in cash | (205,640) | (5,053) |
Cash, beginning | 253,002 | 7,434 |
Cash, ending | $ 47,362 | $ 2,381 |
Organization and Basis of Prese
Organization and Basis of Presentation | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Organization and Basis of Presentation | NOTE 1 - ORGANIZATION AND BASIS OF PRESENTATION Nature of Operations Duesenberg Technologies Inc. (the “Company”) was incorporated on August 4, 2010, under the laws of the State of Nevada under the name “SOS Link Corporation”. On April 15, 2011, the Company changed its place of incorporation from the State of Nevada to the Province of British Columbia, Canada and concurrently changed its name to Venza Gold Corp. On January 6, 2014, the Company changed its name to CoreComm Solutions Inc., on February 11, 2015, to VGrab Communications Inc., and on December 23, 2020, the name was changed to Duesenberg Technologies Inc. The Company’s common shares trade on the OTC Markets inter-dealer quotation system under the ticker symbol DUSYF. On November 1, 2019, the Company incorporated Duesenberg Inc., a Nevada corporation (“Duesenberg Nevada”), with a purpose to undertake the development of Electric Vehicles (“EV”) using the Duesenberg brand and its VGrab Technology and applications based on the VGrab technology. On May 21, 2021, the Company incorporated Duesenberg Heritage LLC, a Nevada corporation (“Duesenberg Heritage”), with a purpose to reproduce very limited Duesenberg Heritage vehicles, Duesenberg Model J and Boat Tail series, which were originally manufactured in the 1920s and 1930s. As of the date of these condensed consolidated financial statements, the Company has the following wholly owned subsidiaries: Name Incorporation Incorporation Date Duesenberg Malaysia Sdn Bhd. Malaysia Companies Act 2016 May 17, 2018 Duesenberg Technologies Evolution Ltd Companies Ordinance, Chapter 622 of the Laws of Hong Kong February 18, 2019 Duesenberg Inc. Nevada, USA November 1, 2019 Duesenberg Heritage LLC Nevada, USA May 21, 2021 Basis of Presentation The unaudited condensed consolidated financial statements of the Company are presented in United States dollars and have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). They do not include all information and footnotes required by GAAP for complete financial statements. Except as disclosed herein, there have been no material changes in the information disclosed in the notes to the consolidated financial statements for the year ended October 31, 2022, included in the Company’s Annual Report on Form 10-K, filed with the SEC on February 17, 2023. The unaudited condensed consolidated financial statements of the Company should be read in conjunction with those financial statements for the year ended October 31, 2022, included in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments considered necessary for fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three-month period ended January 31, 2023, are not necessarily indicative of the results that may be expected for the year ending October 31, 2023. Going Concern The Company’s condensed consolidated financial statements are prepared on a going concern basis in accordance with GAAP which contemplate the realization of assets and discharge of liabilities and commitments in the normal course of business. To date the Company has accumulated losses of $11,897,147 since inception. Continuation of the Company as a going concern is dependent upon the ability of the Company to obtain the necessary financing to meet its obligations and pay its liabilities arising from normal business operations when they come due and ultimately upon its ability to achieve profitable operations. To date the Company has funded its operations through the issuance of capital stock and debt. Management plans to raise additional funds through equity and/or debt financing. There is no certainty that further funding will be available as needed. These factors raise substantial doubt about the ability of the Company to continue operating as a going concern. The Company’s ability to continue its operations as a going concern, realize the carrying value of its assets, and discharge its liabilities in the normal course of business is dependent upon its ability to raise new capital sufficient to fund its commitments and ongoing losses, and ultimately on generating profitable operations. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. On consolidation, all intercompany balances and transactions are eliminated. |
Related Party Transactions Disc
Related Party Transactions Disclosure | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Related Party Transactions Disclosure | NOTE 3 - RELATED PARTY TRANSACTIONS The following amounts were due to related parties as at: January 31, 2023 October 31, 2022 Due to the Chief Executive Officer (“CEO”) and Director of the Company (a) $ 26,100 $ 31,455 Due to a company controlled by the CEO and Director of the Company (a) - 82,477 Notes payable to the CEO and Director of the Company (b) 121,817 112,160 Due to the Chief Financial Officer (“CFO”) and Director of the Company (a) 164,473 148,481 Due to the Chief Strategy Officer (“CSO”) of the Company’s subsidiary (a) 10,000 250,675 Due to a Director of the Company (a) 30,000 24,000 Due to a Director of the Company (a) 30,000 24,000 Due to a Director of the Company (a) 12,000 6,000 Due to a former Director of the Company (c) - 16,000 Due to a major shareholder for payments made on behalf of the Company (d) - 507 Total due to related parties $ 394,390 $ 695,755 (a) Amounts are unsecured, due on demand and bear no interest. (b) Amounts are unsecured, due on demand and bear interest at 4%. (c) Mr. Chee Wai Hong resigned from his position as a director of the Company on July 6. 2022, therefore as at January 31, 2023, the amount owed to Mr. Chee Wai Hong, being $16,000 has been included with trade payables. (d) this Company ceased to be related party, therefore the amount owed has been included with trade payables. During the three-month period ended January 31, 2023, the Company incurred $30,012 (2022 - $30,000) in wages and salaries to Mr. Lim Hun Beng, the Company’s CEO, President, and director. In addition, the Company incurred $10,753 (2022 - $7,155) in reimbursable expenses with Mr. Lim. During the three-month period ended January 31, 2022, Mr. Lim advanced the Company $14,220 in the form of vendor payments made by him on behalf of the Company. The Company did not have similar transactions during the three-month period ended January 31, 2023. During the three-month period ended January 31, 2023, the Company accrued $1,163 in interest expense on the MYR510,000 note payable due to Mr. Lim Hun Beng. The note payable accumulates interest at 4% per annum compounded monthly, and is due on demand (2022 - $Nil). During the three-month period ended January 31, 2023, the Company incurred $24,010 (2022 - $24,000) in wages and salaries to Mr. Liong Fook Weng, the Company’s CFO and director. In addition, the Company incurred $3,921 (2022 - $1,817) in reimbursable expenses with Mr. Liong. During the three-month period ended January 31, 2023, the Company incurred a total of $18,000 in management/director fees to its directors (2022 - $18,000). During the three-month period ended January 31, 2023, the Company incurred $15,000 (2022 - $45,000) in wages and salaries to its CSO, Mr. Brendan Norman. On December 1, 2022, Mr. Norman and the Company reached an agreement to amend his employment agreement by reducing his monthly fee from $15,000 per month, to $5,000 per month, the amended fees are reported as consulting fees included in general and administrative expenses. During the three-month period ended January 31, 2023, the Company incurred a total of $10,000 in consulting fees with Mr. Norman (2022 - $Nil). In addition, on December 12, 2022, Mr. Norman agreed to convert $265,674 the Company owed him on account of unpaid salary and reimbursable expenses into 2,415,222 shares of the Company’s common stock. These shares were issued on December 28, 2022 (Note 6) and resulted in $311,564 loss on conversion of debt. On January 18, 2023, the Company entered into a subscription agreement with Mr. Norman to issue 333,333 Shares at $0.15 per Share for total proceeds of $50,000. As at January 31, 2023, the Company had received $28,290, which were recorded as obligation to issue shares. The remining $21,710 were received subsequent to January 31, 2023, and the Shares were issued on February 17, 2023. During the three-month period ended January 31, 2022, the Company recognized $7,155 in revenue from licensing and maintenance of its SMART Systems applications to a company of which Mr. Lim is a 50% shareholder. Due to the unfavorable economic conditions following the COVID-19 pandemic, the customer was unable to continue paying for the services, and therefore the Company did not record any revenue from this customer during the three-month period ended January 31, 2023. During the three-month period ended January 31, 2023, the Company incurred $45,533 (2022 - $190,803) to Hampshire Automotive Sdn Bhd. (“Hampshire Automotive”) a private company of which Mr. Joe Lim is a 33% shareholder, for engineering and drafting of the Duesenberg Heritage vehicles, which fees were recorded as part of research and development fees. |
Equipment Disclosure
Equipment Disclosure | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Equipment Disclosure | NOTE 4 - EQUIPMENT Changes in the net book value of the equipment at January 31, 2023 and at October 31, 2022 are as follows: January 31, 2023 October 31, 2022 Net book value, beginning of the period $ 517 $ 1,952 Amortization (319) (1,299) Foreign exchange 42 (136) Net book value, end of the period $ 240 $ 517 |
Notes Payable Disclosure
Notes Payable Disclosure | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Notes Payable Disclosure | NOTE 5 - NOTES PAYABLE The following amounts were due under notes payable at January 31, 2023 and October 31, 2021: January 31, 2023 October 31, 2022 Balance, beginning of the period $ 105,284 $ 106,892 Debt converted to shares (31,267) - Interest accrued during the period 1,284 5,787 Foreign exchange 1,673 (7,395) Balance, end of the period $ 76,974 $ 105,284 During the three-month period ended January 31, 2023, the Company accrued $1,141 in interest on the CAD$83,309 note payable accumulating 6% interest compounded monthly (2022 - $1,145). The note payable is unsecured and due on demand. As at January 31, 2023, the Company owed a total of $76,974 under this note payable (2022 - $74,161). In addition, during the three-month period ended January 31, 2023, the Company accrued $143 (2022 - $303) in interest on the notes payable totaling $29,000, which accumulated interest at 4% compounded monthly. On December 12, 2022, the holders of these notes payable agreed to convert the full amount the Company owed under these notes, being $31,267, including interest accrued thereon up to December 12, 2022, into 284,241 shares of the Company. These shares were issued on December 28, 2022 (Note 6), and resulted in $36,666 loss on conversion of debt. |
Common Stock Disclosure
Common Stock Disclosure | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Common Stock Disclosure | NOTE 6 - COMMON STOCK On December 12, 2022, Mr. Norman, the Company’s CSO, agreed to convert a total of $265,674 the Company owed him on account of unpaid salary and reimbursable expenses into 2,415,222 shares of the Company’s common stock (Note 3). The shares were issued on December 28, 2022, and were valued at $577,238, resulting in $311,564 loss on debt settlement. On December 12, 2022, the Company converted a $31,267 in outstanding 4% notes payable (Note 5) into 284,241 shares of its common stock. The shares were issued on December 28, 2022, and were valued at $67,933. The transaction resulted in a loss on debt settlement of $36,666. Obligation to issue shares On January 18, 2023, the Company entered into a subscription agreement with Mr. Norman to issue 333,333 Shares at $0.15 per Share for total proceeds of $50,000 (Note 3). As at January 31, 2023, the Company had received $28,290, which were recorded as obligation to issue shares. The remining $21,710 were received subsequent to January 31, 2023, and the Shares were issued on February 17, 2023. Warrants and Options During the three-month period ended January 31, 2023, and for the year ended October 31, 2022, the Company did not have any warrants or options issued and exercisable. |
Forgiveness of Debt, Disclosure
Forgiveness of Debt, Disclosure | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Forgiveness of Debt, Disclosure | NOTE 7 - FORGIVENESS OF DEBT During the three-month period ended January 31, 2023, one of the vendors of the Company agreed to forgive a total of $7,394, the Company owed for the services (2022 - $Nil). The gain on forgiveness of debt, being $7,042 was included as part of loss on debt settlement. |
Segment Reporting Disclosure
Segment Reporting Disclosure | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Segment Reporting Disclosure | NOTE 8 - SEGMENT INFORMATION The Company has one segment, being the development of Electrical Vehicles and applications based on the VGRAB technology. As at January 31, 2023, the Company’s geographical segments consisted of long-lived assets of $240, of which $240 was attributable to Asia and $Nil was attributable to Canada and the US (2022 - $517 in Asia and $Nil in Canada and the US). The Company’s revenues from customers for the same period were $Nil (2022 - $9,475 with all revenue attributable to operations in Asia). |
Subsequent Events
Subsequent Events | 3 Months Ended |
Jan. 31, 2023 | |
Notes | |
Subsequent Events | NOTE 9 - SUBSEQUENT EVENTS On March 2, 2023, the Company entered into an agreement (the “Agreement”) with Brightcliff Limited (“Brightcliff”). The Agreement gives the Company a right to use Duesenberg’s logo and trademark (The “Licensed Trademarks”) in designing, developing, and manufacturing electric vehicles as well as various associated merchandise with the Licensed Trademarks for 20 years. As consideration for the license, the Company agreed to a $5,000,000 fee, payable in cash or common shares, which shares would be issued at 25% discount to current market value. In addition, the Company will have to pay a royalty of 3% from gross revenue on sales of the trademark products. The Company is unable to sublicense the Licensed Trademarks without the prior written consent of Brightcliff, and subject to payment of a sublicensing fee in the amount of $1,000,000 in cash or stock, at Brightcliff’s sole option, along with a royalty fee at the rate of 8% of the sublicensee’s revenue from its sale of the Licensed Products. The Agreement will be terminated and the Company will lose its rights to the Licensed Trademarks if the Company failed to have licensed products ready for sale to the public within five years of the effective date of the Agreement. The Agreement with Brightcliff is considered a related party transaction as the Company’s CEO and director is a shareholder and director of Brightcliff. On March 3, 2023, the Company entered into a sublicense agreement (the “Sublicense Agreement”) with Duesenberg Korea Inc. (“DKI”). Under the term of the Sublicense Agreement, the Company has granted a license to DKI to design, develop, and manufacture electric vehicles and associated merchandise using Duesenberg logo and trademark in South Korea. The Sublicense Agreement is for a term of 20 years and includes a royalty fee of 4% payable on gross revenue from the sale of the products and merchandise marketed under Duesenberg’s logo and trademark. The Sublicense Agreement will be terminated and DKI will lose its rights to the Licensed Trademarks if DKI failed to have licensed products ready for sale to the public within three years of the effective date of the Sublicense Agreement. Brightcliff waived the sublicensing fee and royalty fee that would otherwise be applicable to Brightcliff as a result of this Sublicense Agreement. Subsequent to January 31, 2023, the Company received a total of $19,125 in cash advances from Mr. Lim in exchange for notes payable that accumulate interest at 4% per annum and are payable on demand. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies: Consolidation, Policy (Policies) | 3 Months Ended |
Jan. 31, 2023 | |
Policies | |
Consolidation, Policy | Principles of Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. On consolidation, all intercompany balances and transactions are eliminated. |
Organization and Basis of Pre_2
Organization and Basis of Presentation: Scedule of Subsidiaries Owned (Tables) | 3 Months Ended |
Jan. 31, 2023 | |
Tables/Schedules | |
Scedule of Subsidiaries Owned | Name Incorporation Incorporation Date Duesenberg Malaysia Sdn Bhd. Malaysia Companies Act 2016 May 17, 2018 Duesenberg Technologies Evolution Ltd Companies Ordinance, Chapter 622 of the Laws of Hong Kong February 18, 2019 Duesenberg Inc. Nevada, USA November 1, 2019 Duesenberg Heritage LLC Nevada, USA May 21, 2021 |
Related Party Transactions Di_2
Related Party Transactions Disclosure: Schedule of Amounts Due to Related Parties (Tables) | 3 Months Ended |
Jan. 31, 2023 | |
Tables/Schedules | |
Schedule of Amounts Due to Related Parties | January 31, 2023 October 31, 2022 Due to the Chief Executive Officer (“CEO”) and Director of the Company (a) $ 26,100 $ 31,455 Due to a company controlled by the CEO and Director of the Company (a) - 82,477 Notes payable to the CEO and Director of the Company (b) 121,817 112,160 Due to the Chief Financial Officer (“CFO”) and Director of the Company (a) 164,473 148,481 Due to the Chief Strategy Officer (“CSO”) of the Company’s subsidiary (a) 10,000 250,675 Due to a Director of the Company (a) 30,000 24,000 Due to a Director of the Company (a) 30,000 24,000 Due to a Director of the Company (a) 12,000 6,000 Due to a former Director of the Company (c) - 16,000 Due to a major shareholder for payments made on behalf of the Company (d) - 507 Total due to related parties $ 394,390 $ 695,755 |
Equipment Disclosure_ Changes i
Equipment Disclosure: Changes in Book Value of Equipment (Tables) | 3 Months Ended |
Jan. 31, 2023 | |
Tables/Schedules | |
Changes in Book Value of Equipment | January 31, 2023 October 31, 2022 Net book value, beginning of the period $ 517 $ 1,952 Amortization (319) (1,299) Foreign exchange 42 (136) Net book value, end of the period $ 240 $ 517 |
Notes Payable Disclosure_ Sched
Notes Payable Disclosure: Schedule of Notes Payable (Tables) | 3 Months Ended |
Jan. 31, 2023 | |
Tables/Schedules | |
Schedule of Notes Payable | January 31, 2023 October 31, 2022 Balance, beginning of the period $ 105,284 $ 106,892 Debt converted to shares (31,267) - Interest accrued during the period 1,284 5,787 Foreign exchange 1,673 (7,395) Balance, end of the period $ 76,974 $ 105,284 |
Organization and Basis of Pre_3
Organization and Basis of Presentation (Details) - USD ($) | Jan. 31, 2023 | Oct. 31, 2022 |
Details | ||
Deficit | $ 11,897,147 | $ 11,314,321 |
Related Party Transactions Di_3
Related Party Transactions Disclosure: Schedule of Amounts Due to Related Parties (Details) - USD ($) | Jan. 31, 2023 | Oct. 31, 2022 |
Due to related parties, current | $ 394,390 | $ 695,755 |
Due to the CEO and Director | ||
Due to related parties, current | 26,100 | 31,455 |
Due to a company controlled by the CEO and Director | ||
Due to related parties, current | 0 | 82,477 |
Notes payable to CEO and Director | ||
Due to related parties, current | 121,817 | 112,160 |
Due to the CFO and Director | ||
Due to related parties, current | 164,473 | 148,481 |
Due to the CSO of a subsidiary | ||
Due to related parties, current | 10,000 | 250,675 |
Due to a Director | ||
Due to related parties, current | 30,000 | 24,000 |
Due to a Director - 2 | ||
Due to related parties, current | 30,000 | 24,000 |
Due to a Director - 3 | ||
Due to related parties, current | 12,000 | 6,000 |
Due to former Director | ||
Due to related parties, current | 0 | 16,000 |
Due to a major shareholder for payments made on behalf of the Company | ||
Due to related parties, current | $ 0 | $ 507 |
Related Party Transactions Di_4
Related Party Transactions Disclosure (Details) - USD ($) | 2 Months Ended | 3 Months Ended | |||
Mar. 31, 2023 | Jan. 31, 2023 | Jan. 31, 2022 | Dec. 01, 2022 | Oct. 31, 2022 | |
Accounts payable | $ 559,400 | $ 547,483 | |||
Interest expense | 2,447 | $ 1,448 | |||
Management fees | 18,000 | 18,000 | |||
Gain (loss) on conversion of debt | 341,188 | 0 | |||
Stock issued for private placements, value | 28,290 | ||||
Revenues | 0 | 9,475 | |||
Research and development costs | 45,533 | 192,025 | |||
Due to former Director | |||||
Other payables, current | 16,000 | ||||
Due to the CEO and Director | |||||
Wages and Salary, for officers | 30,012 | 30,000 | |||
Reimbursable expense incurred | 10,753 | 7,155 | |||
Accounts payable | 14,220 | ||||
Notes payable to CEO and Director | |||||
Interest expense | $ 1,163 | ||||
Interest rate on debt agreement | 4% | 4% | |||
Due to the CFO and Director | |||||
Wages and Salary, for officers | $ 24,010 | 24,000 | |||
Reimbursable expense incurred | 3,921 | 1,817 | |||
Directors for Management Fees | |||||
Management fees | 18,000 | 18,000 | |||
Due to the CSO of a subsidiary | |||||
Wages and Salary, for officers | 15,000 | 45,000 | |||
Management fees | 10,000 | ||||
Monthly Salary, amended | $ 5,000 | ||||
Debt converted, amount | $ 265,674 | ||||
Stock issued for debt, shares | 2,415,222 | ||||
Gain (loss) on conversion of debt | $ 311,564 | ||||
Obligation to issue shares, to be issued | 333,333 | ||||
Stock issued for private placements, per share | $ 0.15 | ||||
Stock issued for private placements, value | $ 21,710 | $ 28,290 | |||
SMART Systems applications licensing | |||||
Revenues | 7,155 | ||||
Hampshire Automotive | |||||
Research and development costs | $ 45,533 | $ 190,803 |
Equipment Disclosure_ Changes_2
Equipment Disclosure: Changes in Book Value of Equipment (Details) - USD ($) | 3 Months Ended | |||
Jan. 31, 2023 | Jan. 31, 2022 | Oct. 31, 2022 | Oct. 31, 2021 | |
Details | ||||
Amortization of equipment | $ 319 | $ 1,299 | ||
Foreign exchange effect on equipment | 42 | $ (136) | ||
Equipment, net | $ 240 | $ 517 | $ 1,952 |
Notes Payable Disclosure_ Sch_2
Notes Payable Disclosure: Schedule of Notes Payable (Details) - USD ($) | Jan. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2021 |
Details | |||
Notes payable | $ 76,974 | $ 105,284 | $ 106,892 |
Notes Payable Disclosure (Detai
Notes Payable Disclosure (Details) - USD ($) | 3 Months Ended | |||
Jan. 31, 2023 | Jan. 31, 2022 | Oct. 31, 2022 | Oct. 31, 2021 | |
Notes payable | $ 76,974 | $ 105,284 | $ 106,892 | |
Gain (loss) on conversion of debt | 341,188 | $ 0 | ||
6% Note Payable | ||||
Interest accrued on defer repayment | $ 1,141 | 1,145 | ||
Interest rate on debt agreement | 6% | |||
Notes payable | $ 76,974 | 74,161 | ||
4% Note Payable | ||||
Interest accrued on defer repayment | $ 143 | $ 303 | ||
Interest rate on debt agreement | 4% | |||
Debt converted, amount | $ 31,267 | |||
Stock issued for debt, shares | 284,241 | |||
Gain (loss) on conversion of debt | $ 36,666 |
Common Stock Disclosure (Detail
Common Stock Disclosure (Details) - USD ($) | 2 Months Ended | 3 Months Ended | |
Mar. 31, 2023 | Jan. 31, 2023 | Jan. 31, 2022 | |
Stock issued for debt, value | $ 645,171 | ||
Gain (loss) on conversion of debt | 341,188 | $ 0 | |
Stock issued for private placements, value | 28,290 | ||
4% Note Payable | |||
Debt converted, amount | $ 31,267 | ||
Stock issued for debt, shares | 284,241 | ||
Stock issued for debt, value | $ 67,933 | ||
Gain (loss) on conversion of debt | $ 36,666 | ||
Interest rate on debt agreement | 4% | ||
Due to the CSO of a subsidiary | |||
Debt converted, amount | $ 265,674 | ||
Stock issued for debt, shares | 2,415,222 | ||
Stock issued for debt, value | $ 577,238 | ||
Gain (loss) on conversion of debt | $ 311,564 | ||
Obligation to issue shares, to be issued | 333,333 | ||
Stock issued for private placements, per share | $ 0.15 | ||
Stock issued for private placements, value | $ 21,710 | $ 28,290 |
Forgiveness of Debt, Disclosu_2
Forgiveness of Debt, Disclosure (Details) - USD ($) | 3 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Gain (loss) on debt settlement | $ 341,188 | $ 0 |
Debt forgiven by vendors | ||
Amount of debt extinguished | 7,394 | |
Gain (loss) on debt settlement | $ 7,042 |
Segment Reporting Disclosure (D
Segment Reporting Disclosure (Details) - USD ($) | 3 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2023 | Oct. 31, 2022 | |
Long-lived assets | $ 240 | ||
From Asia | |||
Long-lived assets | $ 240 | $ 517 | |
Revenues from customers | $ 9,475 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | 2 Months Ended | 3 Months Ended | |
Mar. 31, 2023 | Jan. 31, 2023 | Jan. 31, 2022 | |
Proceeds from related party debt | $ 0 | $ 14,220 | |
Notes payable to CEO and Director | |||
Proceeds from related party debt | $ 19,125 | ||
Interest rate on debt agreement | 4% | 4% | |
Brightcliff Limited Logo License | |||
Trademark license fees to be paid | $ 5,000,000 | ||
Share acquisition discount | 25% | ||
Rotalty Percentage | 3% | ||
Brightcliff Limited Logo Sublicense | |||
Trademark license fees to be paid | $ 1,000,000 | ||
Rotalty Percentage | 8% | ||
Duesenberg Korea Inc. License Granted | |||
Rotalty Percentage | 4% |