Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Nov. 13, 2020 | Jan. 31, 2020 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | SUMMIT NETWORKS INC. | ||
Entity Central Index Key | 0001619096 | ||
Amendment Flag | false | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --07-31 | ||
Entity Well Known Seasoned Issuer | No | ||
Document Type | 10-K | ||
Document Period End Date | Jul. 31, 2020 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Shell Company | true | ||
Entity Emerging Growth Company | false | ||
Entity Common Stock Shares Outstanding | 64,049,990 | ||
Entity Public Float | $ 0 | ||
Entity File Number | 333-199108 | ||
Entity Interactive Data Current | Yes | ||
Entity Incorporation State Country Code | NV |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Current Assets | ||
Cash & Cash Equivalents | $ 304,796 | $ 553 |
Prepaid Expenses | 5,470 | |
Total Current Assets | 310,266 | 553 |
TOTAL ASSETS | 310,266 | 553 |
Current Liabilities | ||
Accounts payable and accrued expenses | 9,525 | 34,252 |
Due to related party | 518,607 | 52,642 |
Total Current Liabilities | 528,132 | 86,894 |
Stockholders’ Deficit | ||
Preferred stock, $0.001 par value, 10,000,000 shares authorized; 0 share issued and outstanding | ||
Common stock, $0.001 par value, 500,000,000 shares authorized; 64,049,990 and 61,049,990 shares issued and outstanding as of July 31 , 2020, and July 31, 2019 | 64,050 | 61,050 |
Additional Paid in Capital | 361,867 | 364,867 |
Accumulated Deficit | (643,783) | (512,258) |
Total Stockholders’ Deficit | (217,866) | (86,341) |
TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT | $ 310,266 | $ 553 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Stockholders' Equity | ||
Preferred stock par value | $ 0.001 | $ 0.001 |
Preferred stock shares authorized | 10,000,000 | 10,000,000 |
Preferred stock shares issued | 0 | 0 |
Preferred stock shares outstanding | $ 0 | $ 0 |
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 500,000,000 | 500,000,000 |
Common stock shares issued | 64,049,990 | 61,049,990 |
Common stock shares outstanding | 64,049,990 | 61,049,990 |
Consolidated Statement of Opera
Consolidated Statement of Operations - USD ($) | 12 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
Income Statement [Abstract] | ||
Revenue | ||
Operating Expenses | ||
General and Administrative Expenses | 131,525 | 370,900 |
Loss from operations | (131,525) | (370,900) |
Loss on disposal of subsidiary | (5,092) | |
Loss before provision for income taxes | (131,525) | (375,992) |
Provision for Income taxes | ||
Net Loss | $ (131,525) | $ (375,992) |
Basic and diluted earnings per share | $ 0 | $ (0.06) |
Basic and diluted Weighted average number of common shares outstanding | 62,738,515 | 61,049,990 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Jul. 31, 2018 | $ 61,050 | $ 12,457 | $ (136,266) | $ (62,759) |
Balance, shares at Jul. 31, 2018 | 61,049,990 | |||
Disposal of Real Capital Ltd. | 3,643 | 3,643 | ||
Net loss | (375,992) | (375,992) | ||
Debt forgiven by related parties | 348,767 | 348,767 | ||
Balance at Jul. 31, 2019 | $ 61,050 | 364,867 | (512,258) | (86,341) |
Balance, shares at Jul. 31, 2019 | 61,049,990 | |||
Issuance of common shares, in connection with acquisition | $ 3,000 | (3,000) | ||
Issuance of common shares, in connection with acquisition, shares | 3,000,000 | |||
Net loss | (131,525) | (131,525) | ||
Balance at Jul. 31, 2020 | $ 64,050 | $ 361,867 | $ (643,783) | $ (217,866) |
Balance, shares at Jul. 31, 2020 | 64,049,990 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 12 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (131,525) | $ (375,992) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Impairment | 11,172 | |
Changes in operating assets and liabilities: | ||
Receivable | 4,556 | |
Prepaid expenses | (5,470) | |
Accounts payable and accrued expenses | (24,727) | 22,884 |
Net cash used in operating activities | (161,722) | (337,380) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Debt forgiven by related parties | 348,767 | |
Advance from related party | 465,965 | (28,563) |
Net cash provided by financing activities | 465,965 | (320,204) |
Net increase(decrease) in cash | 304,243 | (17,176) |
Cash at beginning of year | 553 | 17,729 |
Cash at end of year | 304,796 | 553 |
Cash paid during year for : | ||
Interest | ||
Income Taxes | ||
Non-cash financing activities: | ||
Forgiveness of debt from related parties - contributed to additional paid-in capital | $ 348,767 |
Organization and Description of
Organization and Description of Business | 12 Months Ended |
Jul. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Summit Networks Inc. (together with its subsidiary, the "Company") was incorporated under the laws of the State of Nevada on July 8, 2014. Originally, the Company was formed to engage in the development and operation of a business engaged in the distribution of glass craft products produced in China. On May 8, 2018, the Company acquired Real Capital Limited, a Hong Kong company ("Real Capital"), to seek opportunities in the food and beverage industry. On March 31, 2019, the Company entered into a Share Purchase Agreement (the "Real Capital SPA") pursuant to which it sold its interests in Real Capital. The closing of the Real Capital SPA occurred on April 10, 2019. On April 9, 2019, the Company entered into a Share Exchange Agreement (the "MoralArrival Share Exchange Agreement") with MoralArrival Environmental and Blockchain Technology Services Limited, a British Virgin Islands company ("MoralArrival"), and the sole shareholder of MoralArrival, which was Shuhua Liu, Ms. Liu. The acquisition of MoralArrival was with a related party as Ms. Liu controls The Hass Group, Inc., the Company's largest stockholder, and it was accounted for as acquisition of entity under common control. Under the terms of the MoralArrival Share Exchange Agreement, the Company agreed to exchange 3,000,000 shares of its common stock for all the outstanding shares of common stock of MoralArrival. As a result of this transaction, MoralArrival has become a wholly-owned subsidiary of the Company. MoralArrival had no business activity as of the date of acquisition. MoralArrival changed its name to Goodwill Motion Enterprises, Inc. ("Goodwill") on May 4, 2020. On May 8, 2020, Sumnet (Canada) Inc. ("Sumnet (Canada)") was incorporated in Canada. Sumnet (Canada) issued all its ordinary shares to the Company on May 8, 2020 so that Sumnet (Canada) became the wholly owned subsidiary of Company. On July 29, 2020, Smith Barney Enterprises Limited ("Smith Barney") was incorporated in the British Virgin Islands. Smith Barney issued all its ordinary shares to the Company on July 29, 2020 so that Smith Barney became the wholly owned subsidiary of Company. On August 28, 2020, Green Energy (HK) Limited ("Green Energy") was incorporated in Hong Kong. Green Energy issued all its ordinary shares to Smith Barney on August 28, 2020 so that Green Energy became the wholly owned subsidiary of Smith Barney. On September 27, 2020, Beijing Asian League Wins Technology Co., Ltd. ("Beijing ALW") was incorporated in People's Republic of China. Green Energy subscribed all capital stock of Beijing ALW on September 27, 2020 so that Beijing ALW became the wholly owned subsidiary of Green Energy. Currently, we are in the early stage of development of our new business plan involves acting as an international agent through our wholly-owned subsidiary, MoralArrival, for a Chinese environmental company to market its environmental technologies, equipment and products and to develop projects utilizing its environmental technologies, equipment and products in worldwide markets. However, to date, our activities to have been limited to capital formation, organization and development of a business plan. On July 17, 2019, the Company received FINRA approval to effect a 10-for-1 stock dividend to holders of its common stock as of June 1, 2019, the record date for the dividend. As a result, common stock figures, share capital, additional paid in capital, and earnings per share information have been retroactively adjusted to reflect the stock dividend. Management has evaluated the effect of the recent and ongoing outbreak of the coronavirus disease 2019 (the "COVID-19"), which was declared a pandemic by the World Health Organization in March 2020. Although the ultimate disruption caused by the outbreak is uncertain, it may not have significant impact on the Company's financial position, operations and cash flows. |
Going Concern
Going Concern | 12 Months Ended |
Jul. 31, 2020 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2. GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company had limited operations during the period from July 8, 2014 (date of inception) to July 31, 2020, resulting in accumulated deficit of $643,783 and has not generated any revenue. There is no guarantee that Company will generate revenue and net income in the future. At July 31, 2020, the Company had a working capital deficiency of $217,866. These conditions, among others, raise substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements do not include adjustments that might result from the outcome of this uncertainty. The Company's operations may be affected by the recent and ongoing outbreak of the coronavirus disease 2019 (COVID-19) which in March 2020 was declared a pandemic by the World Health Organization. The ultimate disruption which may be caused by the outbreak is uncertain; however it may result in a material adverse impact on the Company's financial position, operations and cash flows. Possible areas that may be affected include, but are not limited to, disruption to the Company's potential customers, unavailability of products and supplies used in operations, and the unavailability of capital. The Company actively looks for new business opportunities, and its operating expenses are solely relied on loans from the shareholders. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jul. 31, 2020 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3. Summary of significant accounting policies Basis of Presentation and Consolidation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP) . Use of Estimates The preparation of condensed consolidated 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 disclosures of contingent assets and liabilities at the date of consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, "Accounting for Income Taxes". The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Fair Value ASC 740 provides guidance for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. If the Company determines that an uncertain tax position exists in which the Company could incur income taxes, the Company would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by the taxing authorities. A liability for uncertain tax positions would then be recorded if the Company determined it is more likely than not that a position would not be sustained upon examination or if a payment would have to be made to a taxing authority and the amount is reasonably estimable. The Company does not believe any uncertain tax positions exist that would result in the Company having a liability to the taxing authorities. The Company classifies interest and penalties related to unrecognized tax benefits, if and when required, as part of interest expense and other expense in the statements of operations. As of July 31, 2020 and 2019, the Company did not have any amounts recorded pertaining to uncertain tax positions. Fair Value Measurements The Company adopted the provisions of ASC Topic 820, "Fair Value Measurements and Disclosures", which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The Company has no assets or liabilities valued at fair value on a recurring basis. Recent Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jul. 31, 2020 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4. RELATED PARTY TRANSACTIONS As of July 31, 2020, the amount due to its shareholders of the Company was $518,607, which was unsecured, non-interest bearing with no specific repayment terms. The amount has been increased from $52,642 since July 31, 2019. During the year period ended July 31, 2020, the company has borrowed amount of $465,965 from its shareholders to pay certain expenses. During the year ended July 31, 2019, the Company has borrowed amount of $276,640 from a related party and recognized debt forgiveness of $348,767 from related parties, which was recorded as additional paid-in capital. On April 9, 2019, the Company entered into MoralArrival Share Exchange Agreement with MoralArrival, a British Virgin Islands company, and the sole shareholder of MoralArrival was Shuhua Liu. The acquisition of MoralArrival was with a related party, as Ms. Liu controls The Hass Group, Inc., the Company’s largest stockholder and it was accounted for as acquisition of entity under common control. Under the terms of that MoralArival Share Exchange Agreement, the Company agreed to exchange 3,000,000 shares of its common stock for all the outstanding shares of common stock of MoralArrival. As a result of this transaction, MoralArrival has become a wholly-owned subsidiary of the Company. The Company issued 3,000,000 shares of common stock to Ms. Liu in January 2020. See Note 1. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Jul. 31, 2020 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 5. STOCKHOLDERS' EQUITY On July 8, 2019, the Company filed an Amended and Restated Articles of Incorporation (the "Restated Charter") with the Secretary of State of the State of Nevada. Pursuant to the Restated Charter, the Company's capital stock consists of 510,000,000 shares, of which 500,000,000 are designated common stock and 10,000,000 are designated as preferred stock. On July 17, 2019, the Company received FINRA approval to effect a 10-for-1 stock dividend to holders of its common stock as of June 1, 2019, the record date for the dividend. As a result, common stock figures, share capital, additional paid in capital, and earnings per share information have been retroactively adjusted for all periods presented to reflect the stock dividend. In connection with the MoralArrival Share Exchange Agreement, the Company issued 3,000,000 shares of common stock to Ms. Liu on January 7, 2020. See Note 1 and Note 4 above. As of July 31, 2020, the Company had 64,049,990 shares of common stock issued and outstanding. |
Income Taxes
Income Taxes | 12 Months Ended |
Jul. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 6 - INCOME TAXES The reconciliation of income tax benefit at the U.S. statutory rate of 21% for the years ended July 31, 2020 and 2019 to the Company’s effective tax rate is as follows: Year Ended July 31, 2020 2019 21 % 21 % Income tax benefit at statutory rate $ (25,755 ) $ (78,958 ) Change in valuation allowance 25,755 78,958 Income tax expense $ — $ — The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of July 31, 2020 and 2019 are as follows: July 31 July 31 2020 2019 Net operating loss carryforward $ 134,399 $ 108,643 Valuation allowance (134,399 ) (108,643 ) Net deferred tax assets $ — $ — As of July 31, 2020, the Company has approximately $639,993 of net operating losses (“NOL”) carryovers to offset taxable income, if any, in future years. Of the net operating loss from the Company’s operations, $141,356 can be carried forward for a period of twenty years from the year of the initial loss and $498,637 can be carried forward with no time limit from the year of the initial loss pursuant to relevant US laws and regulations. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against all of the deferred tax assets relating to the NOL period because it is more likely than not that all of the deferred tax assets will not be realized. On December 22, 2017, legislation commonly known as the Tax Cuts and Jobs Act, or the Tax Act, was signed into law. The Tax Act, among other changes, reduces the U.S. federal corporate tax rate from 35% to 21%, requires taxpayers to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and creates new taxes on certain foreign sourced earnings. The Company did not have any earnings from foreign subsidiaries, and, as such, the international aspects of the Tax Act are not applicable. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jul. 31, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 7. Subsequent events Management has evaluated subsequent events through the date these financial statements were available to be issued and concluded the following subsequent event need to be disclosed: On November 11, 2020, the Company entered into a Mutual Rescission Agreement (the "Goodwill Rescission Agreement") with Goodwill and Shuhua Liu, the shareholder of Goodwill. Under the Goodwill Rescission Agreement, Shuhua Liu agreed to deliver to the Company 3,000,000 shares of its common stock that were issued to Liu under the MoralArrival Share Exchange Agreement, which the Company agreed to cancel upon such delivery by Shuhua Liu. Under the terms of the Goodwill Rescission Agreement, the obligations of all parties to the MoralArrival Share Exchange Agreement shall be terminated and the transactions contemplated thereby unwound and voided as if the MoralArrival Share Exchange Agreement was never entered into and the transactions contemplated thereby never occurred. Currently, the Company is in the early stage of development of its new business plan which involves acting as an international agent through our wholly-owned subsidiaries, Smith Barney, Green Energy and Beijing ALW, for a Chinese environmental company, Hengshui Jingzhen Environmental Technology Company Limited of Hebei, China ("Hengshui"), to market its environmental technologies, equipment and products and to develop projects utilizing its environmental technologies, equipment and products in worldwide markets. However, to date, the Company's activities have been limited to capital formation, organization and development of a business plan." |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jul. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP) . |
Use of Estimates | Use of Estimates The preparation of condensed consolidated 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 disclosures of contingent assets and liabilities at the date of consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, "Accounting for Income Taxes". The asset and liability method provide that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities and for operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. |
Fair Value | Fair Value ASC 740 provides guidance for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. If the Company determines that an uncertain tax position exists in which the Company could incur income taxes, the Company would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by the taxing authorities. A liability for uncertain tax positions would then be recorded if the Company determined it is more likely than not that a position would not be sustained upon examination or if a payment would have to be made to a taxing authority and the amount is reasonably estimable. The Company does not believe any uncertain tax positions exist that would result in the Company having a liability to the taxing authorities. The Company classifies interest and penalties related to unrecognized tax benefits, if and when required, as part of interest expense and other expense in the statements of operations. As of July 31, 2020 and 2019, the Company did not have any amounts recorded pertaining to uncertain tax positions. |
Fair Value Measurements | Fair Value Measurements The Company adopted the provisions of ASC Topic 820, "Fair Value Measurements and Disclosures", which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements. The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 — quoted prices in active markets for identical assets or liabilities Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The Company has no assets or liabilities valued at fair value on a recurring basis. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of reconcilation of income tax benefit | Year Ended July 31, 2020 2019 21 % 21 % Income tax benefit at statutory rate $ (25,755 ) $ (78,958 ) Change in valuation allowance 25,755 78,958 Income tax expense $ — $ — |
Schedule of net deferred tax assets | July 31 July 31 2020 2019 Net operating loss carryforward $ 134,399 $ 108,643 Valuation allowance (134,399 ) (108,643 ) Net deferred tax assets $ — $ — |
Organization and Description _2
Organization and Description of Business (Details) - shares | 1 Months Ended | 12 Months Ended | |
Jul. 17, 2019 | Jul. 31, 2020 | Apr. 09, 2019 | |
Organization and Description of Business (Textual) | |||
State of Incorporation | Nevada | ||
Date of Incorporation | Jul. 8, 2014 | ||
Exchange of common stock | 3,000,000 | ||
Stock split, description | The Company received FINRA approval to effect a 10-for-1 stock dividend to holders of its common stock as of June 1, 2019, the record date for the dividend. |
Going Concern (Details)
Going Concern (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Going Concern (Textual) | ||
Accumulated deficit | $ (643,783) | $ (512,258) |
working capital deficiency | 217,866 | |
Cash |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Apr. 09, 2019 | Jan. 31, 2020 | Jul. 31, 2020 | Jul. 31, 2019 |
Related Party Transactions (Textual) | ||||
Due to related party | $ 518,607 | $ 52,642 | ||
Share exchange agreement, description | The Company agreed to exchange 3,000,000 shares of its common stock for all the outstanding shares of common stock of MoralArrival. | |||
Due from related party | $ 465,965 | 276,640 | ||
Debt forgiveness | $ 348,767 | |||
Ms. Shuhua Liu [Member] | ||||
Related Party Transactions (Textual) | ||||
Issuance of common stock | 3,000,000 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - shares | Jan. 07, 2020 | Jul. 17, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | Jul. 08, 2019 |
Stockholders' Equity (Textual) | |||||
Stock split, description | The Company received FINRA approval to effect a 10-for-1 stock dividend to holders of its common stock as of June 1, 2019, the record date for the dividend. | ||||
Common stock shares issued | 64,049,990 | 61,049,990 | |||
Common stock shares outstanding | 64,049,990 | 61,049,990 | |||
Shares designated | 510,000,000 | ||||
Common stock designated | 500,000,000 | ||||
Preferred stock designated | 10,000,000 | ||||
MoralArrival Share Exchange Agreement [Member] | |||||
Stockholders' Equity (Textual) | |||||
Issuance of common stock | 3,000,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 12 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
Income tax benefit percentage | 21.00% | 21.00% |
Income tax benefit at statutory rate | $ (25,755) | $ (78,958) |
Change in valuation allowance | 25,755 | 78,958 |
Income tax expense |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforward | $ 134,399 | $ 108,643 |
Valuation allowance | (134,399) | (108,643) |
Net deferred tax assets |
Income Taxes (Details Textual)
Income Taxes (Details Textual) | 1 Months Ended | 12 Months Ended | |
Dec. 22, 2017 | Jul. 31, 2020 | Jul. 31, 2019 | |
Income Tax (Textual) | |||
U.S. statutory rate income tax benefit percentage | 21.00% | 21.00% | |
Income tax, description | As of July 31, 2020, the Company has approximately $639,993 of net operating losses (“NOL”) carryovers to offset taxable income, if any, in future years. Of the net operating loss from the Company’s operations, $141,356 can be carried forward for a period of twenty years from the year of the initial loss and $498,637 can be carried forward with no time limit from the year of the initial loss pursuant to relevant US laws and regulations. | ||
Maximum [Member] | |||
Income Tax (Textual) | |||
U.S. federal corporate tax rate percentage | 35.00% | ||
Minimum [Member] | |||
Income Tax (Textual) | |||
U.S. federal corporate tax rate percentage | 21.00% |
Subsequent Events (Details)
Subsequent Events (Details) | Nov. 11, 2020 |
Subsequent Event [Member] | |
Subsequent Events (Textual) | |
Goodwill rescission agreement, description | The Company entered into a Mutual Rescission Agreement (the "Goodwill Rescission Agreement") with Goodwill and Shuhua Liu, the shareholder of Goodwill. Under the Goodwill Rescission Agreement, Shuhua Liu agreed to deliver to the Company 3,000,000 shares of its common stock that were issued to Liu under the MoralArrival Share Exchange Agreement, which the Company agreed to cancel upon such delivery by Shuhua Liu. Under the terms of the Goodwill Rescission Agreement, the obligations of all parties to the MoralArrival Share Exchange Agreement shall be terminated and the transactions contemplated thereby unwound and voided as if the MoralArrival Share Exchange Agreement was never entered into and the transactions contemplated thereby never occurred. |