Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Oct. 31, 2019 | Feb. 19, 2020 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | iMine Corp | |
Entity Central Index Key | 0001556801 | |
Current Fiscal Year End Date | --07-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 79,792,286 | |
Document Type | 10-Q | |
Document Period End Date | Oct. 31, 2019 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Entity Shell Company | true | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Interactive Data Current | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Oct. 31, 2019 | Jul. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 1,625 | $ 1,850 |
Total Current Assets | 1,625 | 1,850 |
TOTAL ASSETS | 1,625 | 1,850 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 63,570 | 59,582 |
Due to a related party | 164,706 | 164,706 |
Convertible notes payable - related party | 441,702 | 371,089 |
Liabilities from discontinued operation | 19,500 | 19,500 |
Total Current Liabilities | 689,478 | 614,877 |
TOTAL LIABILITIES | 689,478 | 614,877 |
Stockholders' Deficit | ||
Common stock: 300,000,000 authorized; $0.001 par value 79,792,286 shares issued and outstanding as of October 31, 2019 and July 31, 2019 | 79,792 | 79,792 |
Additional paid in capital | 11,660,263 | 11,660,263 |
Accumulated deficit | (12,427,908) | (12,353,082) |
Total Stockholders' Deficit | (687,853) | (613,027) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 1,625 | $ 1,850 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Oct. 31, 2019 | Jul. 31, 2019 |
Statement Of Financial Position [Abstract] | ||
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares issued | 79,792,286 | 79,792,286 |
Common stock, shares outstanding | 79,792,286 | 79,792,286 |
Consolidated Statements of Oper
Consolidated Statements of Operation - USD ($) | 3 Months Ended | |
Oct. 31, 2019 | Oct. 31, 2018 | |
Income Statement [Abstract] | ||
Revenue | $ 0 | $ 0 |
Operating expenses | ||
General and administrative | 225 | 378 |
Professional fees | 3,988 | 22,697 |
Total operating expenses | 4,213 | 23,075 |
Net loss from operations | (4,213) | (23,075) |
Other income and expense | ||
Interest and accretion on convertible notes | (70,613) | (64,155) |
Total other expense | (70,613) | (64,155) |
Loss before income taxes | (74,826) | (87,230) |
Provision for income taxes | 0 | 0 |
Net loss from continuing operations | (74,826) | (87,230) |
Loss from discontinued operations, net of tax | (37,270) | |
Net loss | $ (74,826) | $ (124,500) |
Basic and diluted loss per common share | ||
Continuing operations (in dollars per share) | $ 0 | $ 0 |
Discontinued operations (in dollars per share) | 0 | |
Net loss (in dollars per share) | $ 0 | $ 0 |
Basic weighted average number of common shares outstanding (in shares) | 79,792,286 | 79,398,264 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($) | Common Stock | Additional Paid in Capital | Accumulated Deficit | Total |
Balance at Jul. 31, 2018 | $ 78,542 | $ 11,365,925 | $ (11,335,439) | $ (109,028) |
Balance (in shares) at Jul. 31, 2018 | 78,542,286 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Stock-based compensation | $ 1,250 | 223,750 | 225,000 | |
Stock-based compensation (in shares) | 1,250,000 | |||
Net loss | (124,500) | (124,500) | ||
Balance at Oct. 31, 2018 | $ 79,792 | 11,589,675 | (11,459,939) | 209,528 |
Balance (in shares) at Oct. 31, 2018 | 79,792,286 | |||
Balance at Jul. 31, 2019 | $ 79,792 | 11,660,263 | (12,353,082) | (613,027) |
Balance (in shares) at Jul. 31, 2019 | 79,792,286 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (74,826) | (74,826) | ||
Balance at Oct. 31, 2019 | $ 79,792 | $ 11,660,263 | $ (12,427,908) | $ (687,853) |
Balance (in shares) at Oct. 31, 2019 | 79,792,286 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Oct. 31, 2019 | Oct. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (74,826) | $ (124,500) |
Net loss from discontinued operations | (37,270) | |
Net loss from continuing operations | (74,826) | (87,230) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Accrued interest and accretion on convertible notes | 70,613 | 58,430 |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | 3,988 | 5,197 |
Net cash used in operation activities - continuing operations | (225) | (23,603) |
Net cash used in operation activities - discontinued operations | (18,520) | |
Net cash used in operating activities | (225) | (42,123) |
Net change in cash | (225) | (42,123) |
Cash, beginning of period | 1,850 | 53,971 |
Cash, end of period | 1,625 | 11,848 |
Supplemental cash flow information | ||
Cash paid for interest | 0 | 0 |
Cash paid for taxes | $ 0 | $ 0 |
ORGANIZATION AND BUSINESS OPERA
ORGANIZATION AND BUSINESS OPERATIONS | 3 Months Ended |
Oct. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND BUSINESS OPERATIONS | NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS iMine Corporation (the “Company”) is a Nevada corporation incorporated on October 26, 2010 under the name Oconn Industries. The Company’s name was changed to Oconn Industries Corp. on February 16, 2012, to Diamante Minerals, Inc. on April 1, 2014, and to iMine Corporation on March 20, 2018. The change of name to iMine Corporation was effected through the merger of the Company’s wholly-owned subsidiary, iMine Corporation, a Nevada corporation, into the Company. The Company has one During 2018, the Company was engaged in the development of the business of selling computer equipment which can be used for the mining of cryptocurrency. As a result of the decline in the price of cryptocurrency, which made the purchase of its equipment uneconomical, the Company has discontinued that business, which is reflected as a discontinued operation, and the value of the prepaid inventory, which was the only asset of the discontinued operation at July 31, 2019, was fully reserved against. The Company is not engaged in any business activities and is looking to engage in another business, either through an acquisition of an existing business or by engaging a management team to develop a new business. The Company does not have any agreement to acquire any company or to bring on a management team to commence new business activities. The Company cannot give assurance that it will be successful in attracting either an acquisition candidate or a new management team. Any business the Company may acquire may be an operating business or a business with no history of earnings that is seeking to develop its business. Because of the Company’s financial condition and the market for and market price of its common stock, the Company does not believe that it would be an attractive candidate for a profitable business that is looking to go public through a reverse acquisition. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Oct. 31, 2019 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Presentation of Interim Information The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information and with Rule 8-03 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Notes to the unaudited interim consolidated financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the year ended July 31, 2019 have been omitted. These financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended July 31, 2019 included within the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. Principles of Consolidation The accompanying consolidated financial statements, including the accounts of the Company and its wholly-owned subsidiary, iMine Corporation, an Indiana corporation. All material intercompany accounts, transactions, and profits have been eliminated in consolidation. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that directly affect the results of reported assets, liabilities, revenue, and expenses, including the valuation of non-cash transactions. Actual results may differ from these estimates. Reclassification Certain reclassifications have been made to the prior year financial statements to conform to the current period presentation. The reclassification had no impact on previously reported net loss or accumulated deficit. Fair Value of Financial Instruments As defined in ASC 820” Fair Value Measurements,” fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The following table summarizes fair value measurements by level at October 31, 2019, measured at fair value on a recurring basis: October 31, 2019 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level3) Assets: Cash $ 1,625 $ 1,625 $ — $ — Liabilities: Convertible notes payable 441,702 — 441,702 — Revenue Recognition The Company recognizes revenue in accordance with Topic 606, which requires the Company to recognize revenues when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those goods or services. The Company recognizes revenue based on the five criteria for revenue recognition established under Topic 606: 1) identify the contract, 2) identify separate performance obligations, 3) determine the transaction price, 4) allocate the transaction price among the performance obligations, and 5) recognize revenue as the performance obligations are satisfied. The Company has not realized any revenues from operations, and is not currently engaged in any active business. Stock-based expenses The Company accounts for stock-based compensation arrangements with employees, nonemployee directors and consultants using a fair value method, which requires the recognition of compensation expense for costs related to all stock-based payments, including stock options, on a straight-line basis over the requisite service period in the Company’s consolidated statements of operations. The fair value method requires the Company to estimate the fair value of stock-based payment awards on the date of grant. Income Taxes The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Concentrations of Credit Risk The Company's financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the near future. The Company places its cash with financial institutions of high credit worthiness. At times, its cash balance with a particular financial institution may exceed any applicable government insurance limits. The Company's management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. Net Loss per Share of Common Stock The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share of common stock are computed by dividing net earnings by the weighted average number of shares and potential shares outstanding during the period. Potential shares of common stock consist of shares issuable upon the conversion of outstanding convertible debt. As of October 31, 2019, there were 25,000,000 Recent Accounting Pronouncements The Company has implemented all new pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial statements or results of operations. |
GOING CONCERN AND LIQUIDITY CON
GOING CONCERN AND LIQUIDITY CONSIDERATIONS | 3 Months Ended |
Oct. 31, 2019 | |
Going Concern and Liquidity Considerations [Abstract] | |
GOING CONCERN AND LIQUIDITY CONSIDERATIONS | NOTE 3 - GOING CONCERN AND LIQUIDITY CONSIDERATIONS The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the three months ended October 31, 2019, the Company incurred a net loss of $74,826. $12,427,908 The ability of the Company to begin operations in its new business model is dependent upon, among other things, obtaining financing to commence operations and develop a business plan or making an acquisition. The Company cannot give any assurance as to its ability to develop or acquire a business or to operate profitably. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
DISCONTINUED OPERATION
DISCONTINUED OPERATION | 3 Months Ended |
Oct. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISCONTINUED OPERATION | NOTE 4 – DISCONTINUED OPERATION The change of the business qualified as a discontinued operation of the Company (Note 1). In conjunction with the discontinued operations, the Company has excluded results of discontinued operations from its consolidated statements of operations to classify that business as discontinued operations in all periods presented. The liabilities of the discontinued operations were presented separately under the captions “Liabilities from discontinued operation” in the accompanying consolidated balance sheets at October 31, 2019 and July 31, 2019. The following table shows the results of operations which are included in the loss from discontinued operations: Three Months Ended October 31, 2019 2018 Operating expenses General and administrative $ — $ 18,520 Stock-based compensation — 18,750 Operating loss — 37,270 Income tax provision — — Loss from discontinued operations, net of tax $ — $ 37,270 The following table summarizes the carrying amounts of the net liabilities from discontinued operations as of October 31, 2019 and July 31, 2019, respectively. October 31, July 31, 2019 2019 Liabilities from discontinued operations Advance from customer $ 19,500 $ 19,500 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Oct. 31, 2019 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 5 - RELATED PARTY TRANSACTIONS On March 19, 2018, the Company entered into a one-year 17,500,000 $980,000, and agreed to pay him $164,706 $164,706 In 2018, the Company issued convertible notes in the principal amount of $500,000 |
CONVERTIBLE NOTES - RELATED PAR
CONVERTIBLE NOTES - RELATED PARTY | 3 Months Ended |
Oct. 31, 2019 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTES - RELATED PARTY | NOTE 6 – CONVERTIBLE NOTES – RELATED PARTY At convertible note consisted of the following: October 31, July 31, 2019 2019 Convertible promissory notes issued $ 500,000 $ 500,000 Less discount (97,867 ) (162,179 ) Total convertible note 402,133 337,821 Accrued interest 39,569 33,268 Liability component $ 441,702 $ 371,089 Pursuant to a note purchase agreement dated March 20, 2018 between the Company and a then non-affiliated lender, the lender made loans to the Company in the total amount of $500,000, for which the Company issued two year 5% convertible notes. $0.02 per share. Interest of 5% |
COMMON STOCK
COMMON STOCK | 3 Months Ended |
Oct. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
COMMON STOCK | NOTE 7 - COMMON STOCK Authorized Common Stock The Company has authorized 300,000,000 shares of common stock at par value of $0.001 Issuance of Common Stock During the three months ended October 31, 2019, there were no issuance of common stock. During the three months ended October 31, 2018, the Company issued 1,250,000 shares, of $225,000. As of October 31, 2019 and July 31, 2019, the Company had no options and warrants outstanding. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Oct. 31, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENT Management has evaluated subsequent events through the date which the financial statements are available to be issued. All subsequent events requiring recognition as of October 31, 2019 have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.” |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Oct. 31, 2019 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The accompanying consolidated financial statements, including the accounts of the Company and its wholly-owned subsidiary, iMine Corporation, an Indiana corporation. All material intercompany accounts, transactions, and profits have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that directly affect the results of reported assets, liabilities, revenue, and expenses, including the valuation of non-cash transactions. Actual results may differ from these estimates. |
Reclassification | Reclassification Certain reclassifications have been made to the prior year financial statements to conform to the current period presentation. The reclassification had no impact on previously reported net loss or accumulated deficit. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments As defined in ASC 820” Fair Value Measurements,” fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The following table summarizes fair value measurements by level at October 31, 2019, measured at fair value on a recurring basis: October 31, 2019 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level3) Assets: Cash $ 1,625 $ 1,625 $ — $ — Liabilities: Convertible notes payable 441,702 — 441,702 — |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with Topic 606, which requires the Company to recognize revenues when control of the promised goods or services is transferred to customers at an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those goods or services. The Company recognizes revenue based on the five criteria for revenue recognition established under Topic 606: 1) identify the contract, 2) identify separate performance obligations, 3) determine the transaction price, 4) allocate the transaction price among the performance obligations, and 5) recognize revenue as the performance obligations are satisfied. The Company has not realized any revenues from operations, and is not currently engaged in any active business. |
Share-based expenses | Stock-based expenses The Company accounts for stock-based compensation arrangements with employees, nonemployee directors and consultants using a fair value method, which requires the recognition of compensation expense for costs related to all stock-based payments, including stock options, on a straight-line basis over the requisite service period in the Company’s consolidated statements of operations. The fair value method requires the Company to estimate the fair value of stock-based payment awards on the date of grant. |
Income Taxes | Income Taxes The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. |
Concentrations of Credit Risk | Concentrations of Credit Risk The Company's financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the near future. The Company places its cash with financial institutions of high credit worthiness. At times, its cash balance with a particular financial institution may exceed any applicable government insurance limits. The Company's management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. |
Net Loss per Share of Common Stock | Net Loss per Share of Common Stock The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share of common stock are computed by dividing net earnings by the weighted average number of shares and potential shares outstanding during the period. Potential shares of common stock consist of shares issuable upon the conversion of outstanding convertible debt. As of October 31, 2019, there were 25,000,000 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has implemented all new pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial statements or results of operations. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Oct. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule of assets measured at fair value on a recurring basis | October 31, 2019 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level3) Assets: Cash $ 1,625 $ 1,625 $ — $ — Liabilities: Convertible notes payable 441,702 — 441,702 — |
DISCONTINUED OPERATION (Tables)
DISCONTINUED OPERATION (Tables) | 3 Months Ended |
Oct. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of discontinued operations | Three Months Ended October 31, 2019 2018 Operating expenses General and administrative $ — $ 18,520 Stock-based compensation — 18,750 Operating loss — 37,270 Income tax provision — — Loss from discontinued operations, net of tax $ — $ 37,270 October 31, July 31, 2019 2019 Liabilities from discontinued operations Advance from customer $ 19,500 $ 19,500 |
CONVERTIBLE NOTES - RELATED P_2
CONVERTIBLE NOTES - RELATED PARTY (Tables) | 3 Months Ended |
Oct. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of intrinsic value of the conversion option to convert the liability into equity of the group | October 31, July 31, 2019 2019 Convertible promissory notes issued $ 500,000 $ 500,000 Less discount (97,867 ) (162,179 ) Total convertible note 402,133 337,821 Accrued interest 39,569 33,268 Liability component $ 441,702 $ 371,089 |
ORGANIZATION AND BUSINESS OPE_2
ORGANIZATION AND BUSINESS OPERATIONS (Detail Textuals) Subsidiary in Thousands | 3 Months Ended |
Oct. 31, 2019Subsidiary | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of subsidiary | 1 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Fair Value, Measurements, Recurring | Oct. 31, 2019USD ($) |
Assets: | |
Cash | $ 1,625 |
Liabilities: | |
Convertible notes payable | 441,702 |
Quoted Prices in Active Markets (Level 1) | |
Assets: | |
Cash | 1,625 |
Liabilities: | |
Convertible notes payable | 0 |
Significant Other Observable Inputs (Level 2) | |
Assets: | |
Cash | 0 |
Liabilities: | |
Convertible notes payable | 441,702 |
Significant Unobservable Inputs (Level 3) | |
Assets: | |
Cash | 0 |
Liabilities: | |
Convertible notes payable | $ 0 |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) | 3 Months Ended |
Oct. 31, 2019shares | |
Accounting Policies [Abstract] | |
Antidilutive securities excluded from computation of earnings per share, amount | 25,000,000 |
GOING CONCERN AND LIQUIDITY C_2
GOING CONCERN AND LIQUIDITY CONSIDERATIONS (Detail Textuals) - USD ($) | 3 Months Ended | ||
Oct. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2019 | |
Going Concern and Liquidity Considerations [Abstract] | |||
Net loss | $ (74,826) | $ (124,500) | |
Accumulated deficit | $ 12,427,908 | $ 12,353,082 |
DISCONTINUED OPERATION (Details
DISCONTINUED OPERATION (Details) - Discontinued operations - USD ($) | 3 Months Ended | |
Oct. 31, 2019 | Oct. 31, 2018 | |
Operating expenses | ||
General and administrative | $ 0 | $ 18,520 |
Stock-based compensation | 0 | 18,750 |
Operating loss | 0 | 37,270 |
Income tax provision | 0 | 0 |
Loss from discontinued operations, net of tax | $ 0 | $ 37,270 |
DISCONTINUED OPERATION (Detai_2
DISCONTINUED OPERATION (Details 1) - USD ($) | Oct. 31, 2019 | Jul. 31, 2019 |
Discontinued operations | ||
Liabilities from discontinued operations | ||
Advance from customer | $ 19,500 | $ 19,500 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Detail Textuals) - USD ($) | 1 Months Ended | ||
Mar. 19, 2018 | Oct. 31, 2019 | Jul. 31, 2019 | |
Related Party Transaction [Line Items] | |||
Convertible promissory notes issued | $ 500,000 | $ 500,000 | |
Employment agreement | Director and chief executive officer | |||
Related Party Transaction [Line Items] | |||
Term of agreement | 1 year | ||
Number of shares issued | 17,500,000 | ||
Value of shares issued | $ 980,000 | ||
Agreement of related party obligations | $ 164,706 | ||
Due to related parties, current | $ 164,706 | $ 164,706 |
CONVERTIBLE NOTES - RELATED P_3
CONVERTIBLE NOTES - RELATED PARTY (Details) - USD ($) | Oct. 31, 2019 | Jul. 31, 2019 |
Debt Disclosure [Abstract] | ||
Convertible promissory notes issued | $ 500,000 | $ 500,000 |
Less discount | (97,867) | (162,179) |
Total convertible note | 402,133 | 337,821 |
Accrued interest | 39,569 | 33,268 |
Liability component | $ 441,702 | $ 371,089 |
CONVERTIBLE NOTES - RELATED P_4
CONVERTIBLE NOTES - RELATED PARTY (Detail Textuals) - USD ($) | 1 Months Ended | 3 Months Ended |
Mar. 20, 2018 | Oct. 31, 2019 | |
Debt Instrument [Line Items] | ||
Interest Payable | 5.00% | |
Note purchase agreement | Non-affiliated party | ||
Debt Instrument [Line Items] | ||
Convertible notes, amount | $ 500,000 | |
Debt instrument, term | 2 years | |
Percentage of convertible notes | 5.00% | |
Conversion price | $ 0.02 |
COMMON STOCK (Detail Textuals)
COMMON STOCK (Detail Textuals) - USD ($) | 3 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2019 | Jul. 31, 2019 | |
Schedule of Equity Method Investments [Line Items] | |||
Common shares, shares authorized | 300,000,000 | 300,000,000 | |
Common shares, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Consultant | |||
Schedule of Equity Method Investments [Line Items] | |||
Number of shares issued for consulting service | 1,250,000 | ||
Value of shares issued for consulting service | $ 225,000 |