Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Apr. 30, 2020 | Jun. 05, 2020 | |
Document And Entity Information | ||
Entity Registrant Name | Tianci International, Inc. | |
Entity Central Index Key | 0001557798 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --07-31 | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2020 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 5,054,985 | |
Entity Shell Company | true | |
Entity Small Company | true | |
Entity Emerging Growth | false | |
Entity Interactive Current | Yes | |
Entity File Number | 333-184061 | |
Entity Incorporation State | NV |
Condensed Balance Sheets (Unaud
Condensed Balance Sheets (Unaudited) - USD ($) | Apr. 30, 2020 | Jul. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 3,968 | $ 3,968 |
Prepaid expenses | 3,000 | 12,030 |
Total Current Assets | 6,968 | 15,998 |
TOTAL ASSETS | 6,968 | 15,998 |
Current Liabilities | ||
Accounts payable | 3,708 | 7,171 |
Due to related parties | 232,474 | 185,705 |
Total Current Liabilities | 236,182 | 192,876 |
Total Liabilities | 236,182 | 192,876 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, $0.0001 par value; 20,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $0.0001 par value, 100,000,000 shares authorized; 5,054,985 shares issued and outstanding | 505 | 505 |
Additional paid-in capital | 1,127,046 | 1,127,046 |
Accumulated deficit | (1,356,765) | (1,304,429) |
TOTAL STOCKHOLDERS' DEFICIT | (229,214) | (176,878) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 6,968 | $ 15,998 |
Condensed Balance Sheets (Una_2
Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Apr. 30, 2020 | Jul. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 5,054,985 | 5,054,985 |
Common stock, shares outstanding | 5,054,985 | 5,054,985 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2020 | Apr. 30, 2019 | Apr. 30, 2020 | Apr. 30, 2019 | |
Income Statement [Abstract] | ||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Operating Expenses | ||||
Office and miscellaneous | 82 | 123 | 328 | 319 |
Professional fees | 14,999 | 18,539 | 52,008 | 78,434 |
Total Operating Expenses | 15,081 | 18,662 | 52,336 | 78,753 |
Loss from operations | (15,081) | (18,662) | (52,336) | (78,753) |
Loss before income taxes | (15,081) | (18,662) | (52,336) | (78,753) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net Loss | $ (15,081) | $ (18,662) | $ (52,336) | $ (78,753) |
Basic and diluted loss per common share | $ 0 | $ 0 | $ (0.01) | $ (0.02) |
Basic and diluted weighted average common shares outstanding | 5,054,985 | 5,054,985 | 5,054,985 | 5,054,985 |
Condensed Statments of Changes
Condensed Statments of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, shares at Jul. 31, 2018 | 5,054,985 | |||
Beginning balance, value at Jul. 31, 2018 | $ 505 | $ 1,127,046 | $ (1,216,406) | $ (88,855) |
Net loss for the period | (22,816) | (22,816) | ||
Ending balance, shares at Oct. 31, 2018 | 5,054,985 | |||
Ending balance, value at Oct. 31, 2018 | $ 505 | 1,127,046 | (1,239,222) | (111,671) |
Beginning balance, shares at Jul. 31, 2018 | 5,054,985 | |||
Beginning balance, value at Jul. 31, 2018 | $ 505 | 1,127,046 | (1,216,406) | (88,855) |
Net loss for the period | (78,753) | |||
Ending balance, shares at Apr. 30, 2019 | 5,054,985 | |||
Ending balance, value at Apr. 30, 2019 | $ 505 | 1,127,046 | (1,295,159) | (167,608) |
Beginning balance, shares at Oct. 31, 2018 | 5,054,985 | |||
Beginning balance, value at Oct. 31, 2018 | $ 505 | 1,127,046 | (1,239,222) | (111,671) |
Net loss for the period | (37,275) | (37,275) | ||
Ending balance, shares at Jan. 31, 2019 | 5,054,985 | |||
Ending balance, value at Jan. 31, 2019 | $ 505 | 1,127,046 | (1,276,497) | (148,946) |
Net loss for the period | (18,662) | (18,662) | ||
Ending balance, shares at Apr. 30, 2019 | 5,054,985 | |||
Ending balance, value at Apr. 30, 2019 | $ 505 | 1,127,046 | (1,295,159) | (167,608) |
Beginning balance, shares at Jul. 31, 2019 | 5,054,985 | |||
Beginning balance, value at Jul. 31, 2019 | $ 505 | 1,127,046 | (1,304,429) | (176,878) |
Net loss for the period | (22,707) | (22,707) | ||
Ending balance, shares at Oct. 31, 2019 | 5,054,985 | |||
Ending balance, value at Oct. 31, 2019 | $ 505 | 1,127,046 | (1,327,136) | (199,585) |
Beginning balance, shares at Jul. 31, 2019 | 5,054,985 | |||
Beginning balance, value at Jul. 31, 2019 | $ 505 | 1,127,046 | (1,304,429) | (176,878) |
Net loss for the period | (52,336) | |||
Ending balance, shares at Apr. 30, 2020 | 5,054,985 | |||
Ending balance, value at Apr. 30, 2020 | $ 505 | 1,127,046 | (1,356,765) | (229,214) |
Beginning balance, shares at Oct. 31, 2019 | 5,054,985 | |||
Beginning balance, value at Oct. 31, 2019 | $ 505 | 1,127,046 | (1,327,136) | (199,585) |
Net loss for the period | (14,548) | (14,548) | ||
Ending balance, shares at Jan. 31, 2020 | 5,054,985 | |||
Ending balance, value at Jan. 31, 2020 | $ 505 | 1,127,046 | (1,341,684) | (214,133) |
Net loss for the period | (15,081) | (15,081) | ||
Ending balance, shares at Apr. 30, 2020 | 5,054,985 | |||
Ending balance, value at Apr. 30, 2020 | $ 505 | $ 1,127,046 | $ (1,356,765) | $ (229,214) |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Apr. 30, 2020 | Apr. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (52,336) | $ (78,753) |
Changes in operating assets and liabilities: | ||
Decrease in prepaid expenses | 9,030 | 2,826 |
Decrease in accounts payable | (3,463) | (2,030) |
Net cash used in operating activities | (46,769) | (77,957) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Net cash provided by investing activities | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related parties | 46,769 | 79,925 |
Net cash provided by financing activities | 46,769 | 79,925 |
Net change in cash and cash equivalents | 0 | 1,968 |
Cash and cash equivalents - beginning of period | 3,968 | 2,000 |
Cash and cash equivalents - end of period | 3,968 | 3,968 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
1. Organization and Description
1. Organization and Description of Business | 9 Months Ended |
Apr. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Tianci International, Inc. (“the Company”, “Tianci”) was incorporated under the laws of the State of Nevada, as Freedom Petroleum, Inc. on June 13, 2012. In May 2015, the Company changed its name to Steampunk Wizards, Inc. and on November 9, 2016, the Company changed its name to Tianci International, Inc. As of the date of this report, the Company is a holding company and has not carried out substantive business operations of its own. The Company’s fiscal year end is July 31. 2017 Securities Sale and Change in Control On January 4, 2017, the Company issued 490,520 shares of our common stock to certain purchasers in accordance with the terms and conditions of a Securities Purchase Agreement (the “Private Placement SPA”), at price of $0.20 per share for an aggregate purchase price of $98,104. The shares sold in the private placement were issued in reliance on an exemption from registration under the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof. The proceeds were used for working capital purposes. On August 3, 2017, Tianci, ShiFang Wan (“SFW”), Chuah Su Mei, and the Chuah Su Chen executed a Stock Purchase Agreement (the “Stock Purchase Agreement”), pursuant to which SFW sold to Chuah Su Chen and Chuah Su Mei an aggregate of 4,397,837 shares of Common Stock, or approximately 87% of the issued and outstanding Common Stock, at a purchase price of $350,000. The acquisition consummated on August 15, 2017, and 2,000,000 shares of the Company’s common stock were purchased by Chuah Su Chen using her own personal funds. Upon consummation, the sole executive officer and director of Tianci resigned from all of her positions with Tianci, and Chuah Su Mei, Chuah Su Chen and Yeow Yuen Kai were appointed to serve in as executive officers and directors of the Corporation. |
2. Going Concern
2. Going Concern | 9 Months Ended |
Apr. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN As of April 30,2020, the Company had $3,968 in cash held in trust. The Company had incurred a net loss of $52,336 for the nine months ended April 30, 2020. The Company’s cash balance and revenues generated are not currently sufficient and cannot be projected to cover operating expenses for the next twelve months from the date of this report. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans include attempting to improve its business profitability, its ability to generate sufficient cash flow from its operations to meet its operating needs on a timely basis, obtain additional working capital funds through equity and debt financing arrangements, and restructure on-going operations to eliminate inefficiencies to raise cash balance in order to meet its anticipated cash requirements for the next twelve months from the date of this report. However, there can be no assurance that these plans and arrangements will be sufficient to fund the Company’s ongoing capital expenditures, working capital, and other requirements. Management intends to make every effort to identify and develop sources of funds. The outcome of these matters cannot be predicted at this time. There can be no assurance that any additional financings will be available to the Company on satisfactory terms and conditions, if at all. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital and continue profitable operations. The accompanying unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
3. Summary of Significant Accou
3. Summary of Significant Accounting Policies | 9 Months Ended |
Apr. 30, 2020 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The interim financial information referred to above has been prepared and presented in conformity with accounting principles generally accepted in the United States applicable to interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. The interim financial information has been prepared on a basis consistent with prior interim periods and years and includes all disclosures that are necessary and required by applicable laws and regulations. This report on Form 10-Q should be read in conjunction with the Company’s financial statements and notes thereto included in the Company’s Form 10-K for the fiscal year ended July 31, 2019 filed on October 10, 2019. The unaudited condensed financial statements and notes are presented in accordance with accounting principles generally accepted in the United States of America (GAAP) and are presented in U.S. dollars Results of the nine months ended April 30, 2020 are not necessarily indicative of the results that may be expected for the year ended July 31, 2020 and any other future periods. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash in trust, and all highly liquid debt instruments with original maturities of three months or less. The Company had $3,968 in cash and cash equivalents as of April 30, 2020 and July 31, 2019. Fair Value Measurements 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 Company's financial instruments consist of cash, prepaid expense, accounts payable, and due to related parties. The carrying amounts of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements. Revenue Recognition The Company has yet to generate revenues from operations. The Company will recognize revenue when delivery of goods or completion of services has occurred provided there is persuasive evidence of an agreement exists, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is reasonably assured. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded to reduce the Company’s deferred tax assets to the amount that is more likely than not to be realized. Basic and Diluted Earnings (Loss) Per Share Basic earning (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of April 30, 2020 and July 31, 2019. Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on our financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's unaudited condensed financial statements. |
4. Due to Related Parties
4. Due to Related Parties | 9 Months Ended |
Apr. 30, 2020 | |
Related Party Transactions [Abstract] | |
DUE TO RELATED PARTIES | NOTE 4 – DUE TO RELATED PARTIES During the nine months ended April 30, 2020 and 2019, a shareholder of the Company advanced $46,769 and $79,925 for working capital purpose, respectively. As of April 30, 2020, and July 31, 2019, the Company owed $232,474 and $185,705, respectively, to a shareholder of the Company. This loan is non-interest bearing and due on demand. |
5. Subsequent Events
5. Subsequent Events | 9 Months Ended |
Apr. 30, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 5 – SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of April 30, 2020 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.” |
3. Summary of Significant Acc_2
3. Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Apr. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The interim financial information referred to above has been prepared and presented in conformity with accounting principles generally accepted in the United States applicable to interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. The interim financial information has been prepared on a basis consistent with prior interim periods and years and includes all disclosures that are necessary and required by applicable laws and regulations. This report on Form 10-Q should be read in conjunction with the Company’s financial statements and notes thereto included in the Company’s Form 10-K for the fiscal year ended July 31, 2019 filed on October 10, 2019. The unaudited condensed financial statements and notes are presented in accordance with accounting principles generally accepted in the United States of America (GAAP) and are presented in U.S. dollars Results of the nine months ended April 30, 2020 are not necessarily indicative of the results that may be expected for the year ended July 31, 2020 and any other future periods. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, cash in trust, and all highly liquid debt instruments with original maturities of three months or less. The Company had $3,968 in cash and cash equivalents as of April 30, 2020 and July 31, 2019. |
Fair Value Measurements | Fair Value Measurements 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 Company's financial instruments consist of cash, prepaid expense, accounts payable, and due to related parties. The carrying amounts of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements. |
Revenue Recognition | Revenue Recognition The Company has yet to generate revenues from operations. The Company will recognize revenue when delivery of goods or completion of services has occurred provided there is persuasive evidence of an agreement exists, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is reasonably assured. |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded to reduce the Company’s deferred tax assets to the amount that is more likely than not to be realized. |
Basic and Diluted Earnings (Loss) Per Share | Basic and Diluted Earnings (Loss) Per Share Basic earning (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net loss available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of April 30, 2020 and July 31, 2019. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on our financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's unaudited condensed financial statements. |
1. Organization and Descripti_2
1. Organization and Description of Business (Details Narrative) - USD ($) | Aug. 15, 2017 | Jan. 04, 2017 |
Stock Purchase Agreement [Member] | ||
Stock issued for change of control, shares | 4,397,837 | |
Stock issued for change of control, value | $ 350,000 | |
Private Placement [Member] | ||
Stock issued new, shares | 490,520 | |
Proceeds from sale of stock | $ 98,104 |
2. Going Concern (Details Narra
2. Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Apr. 30, 2020 | Jan. 31, 2020 | Oct. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2020 | Apr. 30, 2019 | |
Going Concern [Abstract] | ||||||||
Cash held in trust | $ 3,968 | $ 3,968 | ||||||
Net loss | $ (15,081) | $ (14,548) | $ (22,707) | $ (18,662) | $ (37,275) | $ (22,816) | $ (52,336) | $ (78,753) |
3. Summary of Significant Acc_3
3. Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Apr. 30, 2020 | Jul. 31, 2019 | Apr. 30, 2019 | Jul. 31, 2018 | |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 3,968 | $ 3,968 | $ 3,968 | $ 2,000 |
Antidilutive shares | 0 | 0 |
4. Due to Related Parties (Deta
4. Due to Related Parties (Details Narrative) - USD ($) | 9 Months Ended | ||
Apr. 30, 2020 | Apr. 30, 2019 | Jul. 31, 2019 | |
Proceeds from related parties | $ 46,769 | $ 79,925 | |
Shareholder [Member] | |||
Due to related parties | 232,474 | $ 185,705 | |
Proceeds from related parties | $ 46,769 | $ 79,925 |