Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Apr. 30, 2017 | May 08, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | Summit Networks Inc. | |
Entity Central Index Key | 1,619,096 | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --07-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 5,000,000 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,017 |
Balance Sheets
Balance Sheets - USD ($) | Apr. 30, 2017 | Jul. 31, 2016 |
Current Assets | ||
Cash | $ 902 | $ 859 |
Total Current Assets | 902 | 859 |
Other Assets | 1,000 | 1,000 |
Property & Office Equipment, net | 13,167 | 14,362 |
Deferred Tax Asset | 1,478 | |
TOTAL ASSETS | 15,069 | 17,699 |
Current Liabilities | ||
Due to related party | 458 | 458 |
Accrued expenses | 500 | 500 |
Total Liabilities | 958 | 958 |
Stockholders' Equity | ||
Common stock, ($0.001 par value, 75,000,000 shares authorized; 5,000,000 shares issued and outstanding as of April 30, 2017 and July 31, 2016 | 5,000 | 5,000 |
Additional Paid in Capital | 39,000 | 39,000 |
Income (deficit) accumulated during development stage | (29,889) | (27,259) |
Total Stockholders' Equity | 14,111 | 16,741 |
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | $ 15,069 | $ 17,699 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Apr. 30, 2017 | Jul. 31, 2016 |
Stockholders' Equity | ||
Common Stock Par Value | $ 0.001 | $ 0.001 |
Common Stock Shares Authorized | 75,000,000 | 75,000,000 |
Common Stock Shares Issued | 5,000,000 | 5,000,000 |
Common Stock Shares Outstanding | 5,000,000 | 5,000,000 |
Statement of Operations (Unaudi
Statement of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 34 Months Ended | ||
Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2017 | |
Statement Of Operations | |||||
Sales | $ 8,010 | $ 6,869 | $ 28,193 | $ 36,247 | $ 223,911 |
Cost of Goods | 6,349 | 5,693 | 21,266 | 21,831 | 163,258 |
Gross Profit | 1,661 | 1,176 | 6,927 | 14,416 | 60,653 |
Selling, General & Administrative Expenses | 1,320 | 1,600 | 9,559 | 23,927 | 92,021 |
Income/ (loss) from operations | 341 | (424) | (2,632) | (9,511) | (31,368) |
Other income (expenses) | |||||
Income before income taxes | 341 | (424) | (2,632) | (9,511) | (31,368) |
Income tax benefit | 1,478 | ||||
Net Income (Loss) | $ 341 | $ (424) | $ (2,632) | $ (9,511) | $ (29,889) |
Basic and diluted earnings per share | $ 0 | $ 0 | $ 0 | $ 0 | |
Weighted average number of common shares outstanding | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 |
Statement of Cash Flows (Unaudi
Statement of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | 34 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income (loss) | $ (2,632) | $ (9,511) | $ (29,889) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Depreciation Expense | 1,197 | 1,196 | 4,583 |
Provision (benefit) for deferred taxes | 1,478 | ||
Changes in operating assets and liabilities: | |||
Other assets | (1,000) | ||
Income Taxes payable | |||
Accrued expenses | 500 | ||
Net cash provided by (used in) operating activities | 43 | (8,315) | (25,806) |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Office & Shop | (17,750) | ||
Net cash provided by (used in) investing activities | (17,750) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Advances from related party | 458 | ||
Issuance of common stock | 44,000 | ||
Net cash provided by (used in) financing activities | 44,458 | ||
Net increase (decrease) in cash | 43 | (8,315) | 902 |
Cash at beginning of period | 859 | 8,711 | |
Cash at end of year | 902 | 396 | 902 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
Cash paid during year for Interest | |||
Cash paid during year for Income Taxes |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS | Summit Networks Inc. (the Company) was incorporated under the laws of the State of Nevada on July 8, 2014. 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. The Company is in the development stage. Its activities to date have been limited to capital formation, organization, development of its business plan and minimal sales. The Company has commenced limited operations. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | a. Basis of Presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles (US GAAP). In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. This ASU removes the definition of a development stage entity from the ASC, thereby removing the financial reporting distinction between development stage entities and other reporting entities from GAAP. In addition, the ASU eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of operations, cash flows, and shareholders deficit, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. Early adoption is permitted. The Company has adopted this ASU and, accordingly, no inception to date financial information is disclosed and the accompanying financial statements are not labeled as those of a development stage entity. The Company has a July 31, year-end. b. Reclassification Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported net income or losses. c. Earnings per Share ASC No. 260, Earnings Per Share, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. d. Cash and Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. e. Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles 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 and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. There were no significant estimates in the current reporting period. f. Income Taxes Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. g. Revenue Recognition The Company records revenue on the accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured. The Company has generated $223,911 in revenue from the sales of glass products since its inception. h. Allowances All orders from customers are prepaid prior to shipment and delivery so no allowance is necessary. i. Warranties Summit, and its customers, has the right to inspect the goods upon receipt and notify the Supplier of any claim for damages. If any defect or damages is identified the Supplier will replace or repair the goods or refund the purchase price at the Suppliers option. The Supplier is liable for all damages and repairs and not the company so no warranty liability is booked. j. Advertising The Company expenses its advertising when incurred. There has been $12,498 in advertising expense since inception. k. Fixed Assets Fixed assets are stated at cost. The Company utilizes straight-line depreciation over the estimated useful life of the asset. Assets are tested for impairment annually and no impairment was found for the period ended April 30, 2017. Property 40 years Office Equipment 7 years l. New Accounting Pronouncements ASC 842 was added by ASU 2016-02 on February 25, 2016. It is effective for public business entities for annual periods beginning after December 15, 2018 (i.e., calendar periods beginning on January 1, 2019) and interim periods therein. For all other entities, ASC 842 will be effective for annual periods beginning after December 15, 2019 (i.e., calendar periods beginning on January 1, 2020) and interim periods thereafter. Early adoption will be permitted for all entities. The main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The Board ultimately reached the conclusion that the economics of leases can vary for a lessee and that those economics should be reflected in the financial statements; therefore, Topic 842 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous GAAP. The Company is currently evaluating whether ASC 842 will have a material effect on the Companys financial statements and if so whether to early adopt the accounting standard. The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission and other than noted above believe that none of them will have a material effect on the companys financial statements. The Company will continue to evaluate accounting pronouncements as they are issued to determine whether they will have a material effect on the companys financial statements. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 3. GOING CONCERN | The accompanying financial statements are presented on a going concern basis. The Company had limited operations during the period from July 8, 2014 (date of inception) to April 30, 2017 resulting in net loss of $29,889. This condition raises substantial doubt about the Companys ability to continue as a going concern. Even though the Company is currently in the development stage and has minimal expenses, management does not believe that the companys current cash of $902 is sufficient to cover the expenses they will incur during the next twelve months. |
WARRANTS AND OPTIONS
WARRANTS AND OPTIONS | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 4. WARRANTS AND OPTIONS | There are no warrants or options outstanding to acquire any additional shares of common. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 5. RELATED PARTY TRANSACTIONS | The sole officer and director of the Company may, in the future, become involved in other business opportunities as they become available, he may face a conflict in selecting between the Company and his other business opportunities. The Company has not formulated a policy for the resolution of such conflicts. As of April 30, 2017, an amount due to Mr. Andris Berzins, CEO of the Company, was $458 which is non-interest bearing with no specific repayment terms. |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 6. INCOME TAXES | April 30, 2017 US Federal Statutory Tax Rate 15.0 % Nevada State & Local Tax Rate 0.0 % Net Operating Loss Carryforward (0.0 )% Effective Tax Rate 15.0 % |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 7. STOCKHOLDERS' EQUITY | Transactions, other than employees stock issuance, are in accordance with ASC No. 505. Thus issuances shall be accounted for based on the fair value of the consideration received. Transactions with employees stock issuance are in accordance with ASC No. 718. These issuances shall be accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, or whichever is more readily determinable. As of April 30, 2017 the stockholders equity section of the Company contains Common stock, $0.001 par value: 75,000,000 shares authorized; 5,000,000 shares issued and outstanding. On July 23, 2014 the Company issued a total of 4,000,000 shares of common stock to a director for cash in the amount of $0.001 per share for a total of $4,000. On January 29, 2015 the Company issued a total of 1,000,000 shares of common stock to 30 independent investors for cash in the amount of $0.04 per share for a total of $40,000. As of April 30, 2017, the Company had 5,000,000 shares of common stock issued and outstanding. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 8. PROPERTY AND EQUIPMENT | The Company currently has property consisting of an office and shop for $8,000 located at Jaunciema gatve 40, Ziemeļu rajons, Rīga, LV-1023, Latvia. The Company has also leases executive offices at 8153 Finch Feather St., Las Vegas, NV 89143. Office Equipment is of value $9,750. Depreciation expense for the Latvia property and office equipment for the period ended April 30, 2017 was $50 and $349 respectively. |
COMMITMENT & CONTINGENCIES
COMMITMENT & CONTINGENCIES | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 9. COMMITMENT & CONTINGENCIES | On July 30, 2014, the Company entered into Commercial Lease Agreement for three years that expires July 30, 2017 for $1,000 a month as the Companys office space. The rent expense for the years ended July 31, 2017, 2016 and 2015 was $0 due to a free rent promotion offered by the property manager based upon the Company committing to a new lease beginning in August 2018, which has not been signed or agreed upon yet. |
CONCENTRATIONS
CONCENTRATIONS | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 10. CONCENTRATIONS | The Companys revenue to date has been concentrated with one client. The Companys orders to date have been from one vendor, based upon the product requirements of our client. This raises a substantial risk for the Company if we lost either the current customer or current vendor. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Apr. 30, 2017 | |
Notes to Financial Statements | |
NOTE 11. SUBSEQUENT EVENTS | The Company has evaluated events subsequent to the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that no subsequent events occurred that require recognition or disclosure in the financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN17
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Apr. 30, 2017 | |
Summary Of Significant Accounting Policies Policies | |
Basis of Presentation | The accompanying financial statements have been prepared in accordance with generally accepted accounting principles (US GAAP). In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation. This ASU removes the definition of a development stage entity from the ASC, thereby removing the financial reporting distinction between development stage entities and other reporting entities from GAAP. In addition, the ASU eliminates the requirements for development stage entities to (1) present inception-to-date information in the statements of operations, cash flows, and shareholders deficit, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. Early adoption is permitted. The Company has adopted this ASU and, accordingly, no inception to date financial information is disclosed and the accompanying financial statements are not labeled as those of a development stage entity. The Company has a July 31, year-end. |
Reclassification | Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported net income or losses. |
Earnings per Share | ASC No. 260, Earnings Per Share, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The Company has adopted the provisions of ASC No. 260. Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company. |
Cash and Equivalents | The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. |
Use of Estimates and Assumptions | The preparation of financial statements in conformity with generally accepted accounting principles 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 and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. There were no significant estimates in the current reporting period. |
Income Taxes | Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carry forwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of all of the deferred tax assets will be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Revenue Recognition | The Company records revenue on the accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured. The Company has generated $223,911 in revenue from the sales of glass products since its inception. |
Allowances | All orders from customers are prepaid prior to shipment and delivery so no allowance is necessary. |
Warranties | Summit, and its customers, has the right to inspect the goods upon receipt and notify the Supplier of any claim for damages. If any defect or damages is identified the Supplier will replace or repair the goods or refund the purchase price at the Suppliers option. The Supplier is liable for all damages and repairs and not the company so no warranty liability is booked. |
Advertising | The Company expenses its advertising when incurred. There has been $12,498 in advertising expense since inception. |
Fixed Assets | Fixed assets are stated at cost. The Company utilizes straight-line depreciation over the estimated useful life of the asset. Assets are tested for impairment annually and no impairment was found for the period ended April 30, 2017. Property 40 years Office Equipment 7 years |
New Accounting Pronouncements | ASC 842 was added by ASU 2016-02 on February 25, 2016. It is effective for public business entities for annual periods beginning after December 15, 2018 (i.e., calendar periods beginning on January 1, 2019) and interim periods therein. For all other entities, ASC 842 will be effective for annual periods beginning after December 15, 2019 (i.e., calendar periods beginning on January 1, 2020) and interim periods thereafter. Early adoption will be permitted for all entities. The main difference between previous GAAP and Topic 842 is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The Board ultimately reached the conclusion that the economics of leases can vary for a lessee and that those economics should be reflected in the financial statements; therefore, Topic 842 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous GAAP. The Company is currently evaluating whether ASC 842 will have a material effect on the Companys financial statements and if so whether to early adopt the accounting standard. The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission and other than noted above believe that none of them will have a material effect on the companys financial statements. The Company will continue to evaluate accounting pronouncements as they are issued to determine whether they will have a material effect on the companys financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN18
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Apr. 30, 2017 | |
Summary Of Significant Accounting Policies Tables | |
Fixed Assets | Property 40 years Office Equipment 7 years |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 9 Months Ended |
Apr. 30, 2017 | |
Income Taxes Tables | |
Schedule of Effective Income Tax Rate | April 30, 2017 US Federal Statutory Tax Rate 15.0 % Nevada State & Local Tax Rate 0.0 % Net Operating Loss Carryforward (0.0 )% Effective Tax Rate 15.0 % |
ORGANIZATION AND DESCRIPTION 20
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) | 9 Months Ended |
Apr. 30, 2017 | |
Organization And Description Of Business Details Narrative | |
State Country Name | State of Nevada |
Entity Incorporation, Date of Incorporation | Jul. 8, 2014 |
SUMMARY OF SIGNIFICANT ACCOUN21
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) | 9 Months Ended |
Apr. 30, 2017 | |
Property [Member] | |
Estimated useful life | 40 years |
Office Equipment [Member] | |
Estimated useful life | 7 years |
SUMMARY OF SIGNIFICANT ACCOUN22
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 34 Months Ended | ||
Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2017 | |
Summary Of Significant Accounting Policies Details Narrative | |||||
Revenue | $ 8,010 | $ 6,869 | $ 28,193 | $ 36,247 | $ 223,911 |
Advertising expense | $ 12,498 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 34 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2017 | Jul. 31, 2016 | |
Going Concern Details Narrative | ||||||
Net income (loss) | $ 341 | $ (424) | $ (2,632) | $ (9,511) | $ (29,889) | |
Cash | $ 902 | $ 902 | $ 902 | $ 859 |
RELATED PARTY TRANSACTIONS (De
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Apr. 30, 2017 | Jul. 31, 2016 |
Related Party Transactions Details Narrative | ||
Due to related party | $ 458 | $ 458 |
INCOME TAXES (Details)
INCOME TAXES (Details) | 9 Months Ended |
Apr. 30, 2017 | |
Income Taxes Details | |
US Federal Statutory Tax Rate | 15.00% |
Nevada State & Local Tax Rate | 0.00% |
Net Operating Loss Carryforward | 0.00% |
Effective Tax Rate | 15.00% |
STOCKHOLDERS' EQUITY (Details N
STOCKHOLDERS' EQUITY (Details Narrative) | 1 Months Ended | |||
Jan. 29, 2015USD ($)Number$ / sharesshares | Jul. 23, 2014USD ($)$ / sharesshares | Apr. 30, 2017$ / sharesshares | Jul. 31, 2016$ / sharesshares | |
Common Stock Par Value | $ / shares | $ 0.001 | $ 0.001 | ||
Common Stock Shares Authorized | 75,000,000 | 75,000,000 | ||
Common Stock Shares Issued | 5,000,000 | 5,000,000 | ||
Common Stock Shares Outstanding | 5,000,000 | 5,000,000 | ||
Director [Member] | ||||
Common Stock Par Value | $ / shares | $ 0.001 | |||
Common Stock Shares Issued | 4,000,000 | |||
Proceeds from issuance of common stock | $ | $ 4,000 | |||
Investor [Member] | ||||
Common Stock Par Value | $ / shares | $ 0.04 | |||
Common Stock Shares Issued | 1,000,000 | |||
Proceeds from issuance of common stock | $ | $ 40,000 | |||
Number of independent investors | Number | 30 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 9 Months Ended | 34 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2017 | |
Property consisting of an office and shop | $ 8,000 | $ 8,000 | |
Depreciation expense | 1,197 | $ 1,196 | 4,583 |
Office equipment | 9,750 | $ 9,750 | |
Latvia property [Member] | |||
Depreciation expense | $ 50 | $ 349 |
COMMITMENT & CONTINGENCIES (Det
COMMITMENT & CONTINGENCIES (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Jul. 30, 2014 | Jul. 31, 2017 | Jul. 31, 2016 | Jul. 31, 2015 | |
Commitment Contingencies Details Narrative | ||||
Rent expense | $ 0 | $ 0 | $ 0 | |
Lease Agreement Expiration Date | July 30, 2017 | |||
Amount of commercial lease agreement per month | $ 1,000 |