Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jul. 31, 2020 | Sep. 10, 2020 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jul. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Venture Vanadium Inc. | |
Entity Central Index Key | 0001692981 | |
Current Fiscal Year End Date | --10-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 56,047,470 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | No | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Jul. 31, 2020 | Oct. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 167 | $ 184,939 |
Prepaid expense | 17,500 | 0 |
Total Current Assets | 17,667 | 184,939 |
Fixed Assets | ||
Exploration Licenses (2019 Options) | 1,030,050 | 125,050 |
Total Non-current Assets | 1,030,050 | 125,050 |
Total Assets | 1,047,717 | 309,989 |
Liabilities | ||
Current Liabilities Accounts Payable | 104,607 | 48,928 |
Related Party Loans | 103,131 | 106,481 |
Total Current Liabilities | 207,738 | 155,409 |
Total Liabilities | $ 207,738 | $ 155,409 |
Stockholders' Equity | ||
Common stock, par value $0.001; 75,000,000 shares authorized, 56,047,470 and 54,947,470 shares issued and outstanding respectively | 56,047 | 54,947 |
Discount on common stock | $ (21,800) | $ (21,800) |
Additional paid in capital | $ 1,249,024 | $ 345,124 |
Common stock to be issued | 120,000 | 0 |
Retained earnings (accumulated deficit) | $ (563,292) | $ (223,691) |
Total Stockholder's Equity | 839,979 | 154,580 |
Total Liabilities and Stockholders' Equity | $ 1,047,717 | $ 309,989 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - USD ($) | Jul. 31, 2020 | Oct. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock shares issued and outstanding | $ 56,047,470 | $ 56,047,470 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2019 | |
Income Statement [Abstract] | ||||
REVENUE | $ 0 | $ 0 | $ 0 | $ 0 |
OPERATING EXPENSES | ||||
Work Program & Technical | 29,250 | 7,203 | 216,500 | 7,203 |
Legal & Professional | 17,748 | 35,824 | 55,385 | 35,824 |
Website design & Development | 0 | 13,927 | 3,606 | 13,927 |
General and Administrative Expenses | 20,810 | 2,854 | 64,109 | 2,854 |
TOTAL OPERATING EXPENSES | 67,808 | 59,808 | 339,600 | 59,808 |
LOSS FROM CONTINUING OPERATIONS | $ (67,808) | $ (59,808) | $ (339,600) | $ (59,808) |
LOSS FROM DISCONTINUED OPERATIONS | $ 0 | $ 0 | $ 0 | $ (29,607) |
LOSS FROM OPERATIONS | $ (67,808) | $ (59,808) | $ (339,600) | $ (89,415) |
PROVISION FOR INCOME TAXES | 0 | 0 | 0 | 0 |
NET LOSS | $ (67,808) | $ (59,808) | $ (339,600) | $ (89,415) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 55,931,412 | 54,430,000 | 55,931,412 | 54,430,000 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) | Total | Common Stock | Additional Paid-in Capital | Discount on common stock | Common Stock to be issued | Accumulat-ed Deficit |
Balance at Jan. 31, 2020 | $ 972,919 | $ 56,047 | $ 1,249,024 | $ (21,800) | $ (310,352) | |
Balance (in shares) at Jan. 31, 2020 | 56,047,470 | |||||
Shares to be issued for non-cash consideration to a senior consultant | 120,000 | 120,000 | ||||
Net loss | $ (185,131) | (185,131) | ||||
Balance at Apr. 30, 2020 | 907,787 | $ 56,047 | 1,249,024 | (21,800) | $ 120,000 | (495,484) |
Balance (in shares) at Apr. 30, 2020 | 56,047,470 | |||||
Net loss | (67,808) | (67,808) | ||||
Balance at Jul. 31, 2020 | $ 839,979 | $ 56,047 | $ 1,249,024 | $ (21,800) | $ 120,000 | $ (563,292) |
Balance (in shares) at Jul. 31, 2020 | 56,047,470 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
Statement of Cash Flows [Abstract] | ||
CASH FLOWS FROM OPERATING ACTIVITIES Net loss - continuing operations | $ (339,600) | $ (59,808) |
Stock based compensation | 207,500 | 0 |
Adjustments to reconcile net loss to net cash (used in) operating activities: | ||
Accounts payable and accrued expenses | 55,678 | 0 |
CASH FLOWS USED IN OPERATING ACTIVITIES OF CONTINUING OPERATIONS | (76,422) | (59,808) |
CASH FLOWS USED IN OPERATING ACTIVITIES OF DISCONTINUED OPERATIONS | 0 | (24,822) |
CASH FLOWS USED IN OPERATING ACTIVITIES | (76,422) | (84,630) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of Fixed Assets | (105,000) | (66,150) |
CASH FLOWS PROVIDED/(USED) IN INVESTING ACTIVITIES OF CONTINUING OPERATIONS | (105,000) | |
CASH FLOWS PROVIDED/(USED) IN INVESTING ACTIVITIES OF DISCONTINUED OPERATIONS | 0 | 8,389 |
Net CASH FLOWS PROVIDED/(USED) IN INVESTING ACTIVITIES | (105,000) | (57,761) |
Related party loans | (3,350) | 134,972 |
CASH FLOWS PROVIDED/(USED) BY FINANCING ACTIVITIES OF CONTINUING OPERATIONS | (3,350) | 134,972 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES OF DISCONTINUED OPERATIONS | 1,700 | |
Total CASH FLOWS FROM FINANCING ACTIVITIES | (3,350) | 136,672 |
NET DECREASE IN CASH | (184,772) | (5,719) |
Cash, beginning of period | 184,939 | 5,719 |
Cash, end of period | 167 | 0 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 0 | 0 |
Income taxes paid | 0 | 0 |
NON CASH ACTIVITY: | ||
Shares issued as prepaid expenses | 17,500 | 0 |
Shares issued to acquire licences | $ 800,000 | $ 0 |
- ORGANIZATION AND NATURE OF BU
- ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
Jul. 31, 2020 | |
- ORGANIZATION AND NATURE OF BUSINESS [Abstract] | |
- ORGANIZATION AND NATURE OF BUSINESS | Note 1 - ORGANIZATION AND NATURE OF BUSINESS Venture Vanadium Inc. (the “Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on September 26, 2016. Venture Vanadium Inc. (Formerly Aura Energy Inc.) was previously engaged in the production of wood-manufactured bow ties in China, Hunan Province. This has now ceased. On June 12, 2019, we entered into an assignment agreement with Ian Ilsley to assign his rights and obligations under an option agreement to acquire a 100% interest in over 30 mineral claims (The Desgrobois Vanadium/Titanium Property) representing 1,789.80 hectares (4,422.69 acres) situated in Quebec . On November 22, 2019, Mr. Ilsley, Venture Vanadium Inc. and Mr. Yacoub entered into the Amended and Restated Desgrosbois Option Agreement whereby certain terms of the original agreement were amended. Under the Amended and Restated Agreement, Mr. Yacoub agreed to transfer the titles in exchange for a $70,000 cash payment, the receipt from the Company of 1,000,000 shares and a two per cent (2.0%) Net Smelter Return on all metals extracted from the property. We now intend to focus on the minerals and resources sector. The accompanying unaudited interim financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission set forth in Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim financial statements furnished reflect all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Unaudited interim results are not necessarily indicative of the results for the full fiscal year. These financial statements should be read in conjunction with our financial statements for the fiscal year ended October 31, 2019 and the notes thereto contained in our Annual Report on Form 10-K. |
- GOING CONCERN
- GOING CONCERN | 9 Months Ended |
Jul. 31, 2020 | |
- GOING CONCERN [Abstract] | |
- GOING CONCERN | Note 2 - GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. We had no revenues for the nine months ended July 31, 2020. We currently have losses and have not completed our efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about our ability to continue as a going concern. Management anticipates that we will depend, for the near future, on additional investment capital to fund operating expenses. We intend to raise additional funds through the capital markets. In light of management's efforts, there are no assurances that we will be successful in this or any of our endeavors or become financially viable and continue as a going concern. |
- IMPACT OF COVID-19
- IMPACT OF COVID-19 | 9 Months Ended |
Jul. 31, 2020 | |
- IMPACT OF COVID-19 [Abstract] | |
- IMPACT OF COVID-19 | Note 3 - IMPACT OF COVID-19 With the ongoing COVID-19 pandemic, the Company will need to manage its cash flow during these difficult times and funding resources may not be available as the outlook is uncertain. The Company's plan of operations may not proceed and can be held up due to the impact of COVID-19. These are unprecedented times and the Company will adjust to the new realities and will actively monitor the impact of the pandemic on the Company's business. The full extent of the impact of economic uncertainty on the Company's business operations and financial results will depend on numerous factors that the company may not be able to accurately predict. In an effort to protect the health and safety are employees and consultants a significant amount of time is spent working remotely, international travel has been curtailed and a lot of other functions have been paused. Governments from around the world have enacted various measures to slow the spread and contain COVID-19. These measures include orders to close all business deemed “non-essential”, isolate residents to their homes and practice social distancing when engaging in essential activities. The Company anticipates that these actions and the global health crisis caused by this pandemic will negatively impact business activity across the globe. It is not clear what the potential effects, if any, that such alterations or modifications we have on our business, financial condition and cash flows. The duration of these measures is also unknown and may be extended with additional imposed measures. |
- SUMMARY OF SIGNIFICANT ACCOUN
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Jul. 31, 2020 | |
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |
- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Note 4 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. Our year-end is October 31. Use of Estimates 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recently Issued Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements, and we do not believe any of these pronouncements will have a material impact on us. 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. Management does not believe that any pronouncement not yet effective but recently issued by the FASB (including its Emerging Issues Task Force), the AICPA or the SEC would, if adopted, have a material effect on the accompanying financial statements for the nine months to July 31, 2020. Mineral Properties The Company will expense mineral property exploration expenditures when incurred. When it has established that a mineral deposit is commercially mineable and following a decision to commence development, the costs subsequently incurred to develop a mine on the property prior to the start of mining operations are capitalized and will be amortized against production following commencement of commercial production, or written off if the property is sold, allowed to lapse or abandoned. Mineral property acquisition costs are initially capitalized when incurred. Option payments and expenditures required to earn an interest in the properties are capitalized. The Company assesses the carrying costs for impairment. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral property over its estimated fair value. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations. Stock-based compensation In June 2018, the FASB issued ASU No. 2018-07, " Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting" , an update that expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. This guidance was adopted by Venture Vanadium Inc for the financial year ended October 31, 2019. There was no material effect on the financial statements as a result of this adoption. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification 606, “Revenue from Contracts with Customers”. ASC 606 adoption is on February 1, 2018. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. |
- RELATED PARTY LOANS
- RELATED PARTY LOANS | 9 Months Ended |
Jul. 31, 2020 | |
- RELATED PARTY LOANS [Abstract] | |
- RELATED PARTY LOANS | Note 5 - RELATED PARTY LOANS Related Party Loans are not covered by a formal loan agreement and are interest free with no fixed repayment date. They are due to Ian Ilsley, the company's sole director and controlling shareholder, and were made following the change of control on May 29, 2019. |
- SUBSEQUENT EVENTS
- SUBSEQUENT EVENTS | 9 Months Ended |
Jul. 31, 2020 | |
- SUBSEQUENT EVENTS [Abstract] | |
- SUBSEQUENT EVENTS | Note 6 - SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10), we have analyzed our operations subsequent to July 31, 2020 to the date these financial statements were issued and have determined that we do not have any material subsequent events to disclose in these financial statements. |
- MINERAL PROPERTIES
- MINERAL PROPERTIES | 9 Months Ended |
Jul. 31, 2020 | |
- MINERAL PROPERTIES [Abstract] | |
- MINERAL PROPERTIES | Note 7 - MINERAL PROPERTIES On June 12, 2019, we entered into an assignment agreement with Ian Ilsley to assign his rights and obligations under an option agreement to acquire exploration rights over 30 mineral claims (The Desgrobois Vanadium/Titanium Property) representing 1,789.80 hectares (4,422.69 acres) situated in Quebec. Under the terms of the assignment agreement, we issued 50,000 shares to Ian Ilsley on June 21, 2019 and a further 50,000 shares ninety days thereafter in consideration for him having entered into the assignment agreement. Under the terms of the option agreement, payments totaling $65,000 were made to the Optionor and 1,150,000 shares were issued to the Optionor. O n November 22, 2019, Mr. Ilsley, Venture Vanadium Inc. and Mr. Yacoub entered into the Amended and Restated Desgrosbois Option Agreement whereby certain terms of the original agreement were amended. Under the Amended and Restated Agreement, Mr. Yacoub agreed to transfer the titles in exchange for a $70,000 cash payment, the receipt from the Company of 1,000,000 shares and a two per cent (2.0%) Net Smelter Return on all metals extracted from the property. These transactions are reflected in the accounts as of July 31, 2020 and have been capitalized in accordance with the company's accounting policy noted in note 3 above. |
- DISCONTINUED OPERATIONS
- DISCONTINUED OPERATIONS | 9 Months Ended |
Jul. 31, 2020 | |
- DISCONTINUED OPERATIONS [Abstract] | |
- DISCONTINUED OPERATIONS | Note 8 - DISCONTINUED OPERATIONS Further to the company entering into the Split-Off Agreement dated May 29, 2019, pursuant to current accounting guidelines, the business component relating to the assets and liabilities taken over is reported as a discontinued operations. |
- INCOME_(LOSS) PER SHARE
- INCOME/(LOSS) PER SHARE | 9 Months Ended |
Jul. 31, 2020 | |
- INCOME/(LOSS) PER SHARE [Abstract] | |
- INCOME/(LOSS) PER SHARE | Note 9 - INCOME/(LOSS) PER SHARE Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the income (loss) of the Company. In computing diluted income (loss) per share, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Options and warrants may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants. As of July 31, 2020 and 2019, there were no outstanding warrants or options. The following table sets forth the computation of basic and diluted earnings per share: For the nine months ended July 31, 2020 2019 Earnings per share - Basic and Diluted Income (Loss) for the period $ (339,600) $ (89,415) Basic average common stock outstanding - Basic and Diluted 55,931,412 54,430,000 Net earnings (loss) per share discontinued operations $ (0.00) $ (0.00) Net earnings (loss) per share continuing operations $ (0.00) $ (0.00) Net earnings (loss) per share - Basic and Diluted $ (0.00) $ (0.00) |
- RECENT SALES OF UNREGISTERED
- RECENT SALES OF UNREGISTERED SECURITIES | 9 Months Ended |
Jul. 31, 2020 | |
- RECENT SALES OF UNREGISTERED SECURITIES [Abstract] | |
- RECENT SALES OF UNREGISTERED SECURITIES | Note 10 - RECENT SALES OF UNREGISTERED SECURITIES In January 2020 we issued 100,000 shares to pursuant to a consulting agreement. T he shares were initially valued at $105,000 with $61,250 being recognized as work program and technical expense, with the remaining $43,750 to be recognized as expense over the remaining term of the agreement. In January 2020 we were due to issue a further 150,000 shares to a senior geologist under the terms of his consultancy agreement entered into on January 1, These shares have not yet been issued, but instead are recorded as shares to be issued at a value of $120,000. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Jul. 31, 2020 | |
Significant Accounting Policies (Policies) [Abstract] | |
Basis of presentation | Basis of presentation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America. Our year-end is October 31. |
Use of Estimates | Use of Estimates 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements We have reviewed all the recently issued, but not yet effective, accounting pronouncements, and we do not believe any of these pronouncements will have a material impact on us. 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. Management does not believe that any pronouncement not yet effective but recently issued by the FASB (including its Emerging Issues Task Force), the AICPA or the SEC would, if adopted, have a material effect on the accompanying financial statements for the nine months to July 31, 2020. |
Mineral Properties | Mineral Properties The Company will expense mineral property exploration expenditures when incurred. When it has established that a mineral deposit is commercially mineable and following a decision to commence development, the costs subsequently incurred to develop a mine on the property prior to the start of mining operations are capitalized and will be amortized against production following commencement of commercial production, or written off if the property is sold, allowed to lapse or abandoned. Mineral property acquisition costs are initially capitalized when incurred. Option payments and expenditures required to earn an interest in the properties are capitalized. The Company assesses the carrying costs for impairment. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral property over its estimated fair value. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations. |
Stock-based compensation | Stock-based compensation In June 2018, the FASB issued ASU No. 2018-07, " Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting" , an update that expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. This guidance was adopted by Venture Vanadium Inc for the financial year ended October 31, 2019. There was no material effect on the financial statements as a result of this adoption. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification 606, “Revenue from Contracts with Customers”. ASC 606 adoption is on February 1, 2018. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts. |
- INCOME_(LOSS) PER SHARE (Tabl
- INCOME/(LOSS) PER SHARE (Tables) | 9 Months Ended |
Jul. 31, 2020 | |
- INCOME/(LOSS) PER SHARE (Tables) [Abstract] | |
The following table sets forth the computation of basic and diluted earnings per share | The following table sets forth the computation of basic and diluted earnings per share: For the nine months ended July 31, 2020 2019 Earnings per share - Basic and Diluted Income (Loss) for the period $ (339,600) $ (89,415) Basic average common stock outstanding - Basic and Diluted 55,931,412 54,430,000 Net earnings (loss) per share discontinued operations $ (0.00) $ (0.00) Net earnings (loss) per share continuing operations $ (0.00) $ (0.00) Net earnings (loss) per share - Basic and Diluted $ (0.00) $ (0.00) |
- ORGANIZATION AND NATURE OF _2
- ORGANIZATION AND NATURE OF BUSINESS (Details Text) | Nov. 22, 2019USD ($) |
Accrued Liabilities and Other Liabilities [Abstract] | |
Yacoub agreed to transfer the titles in exchange for a $70,000 cash payment, the receipt from the Company of 1,000,000 shares and a two per cent (2.0%) Net Smelter Return on all metals extracted from the property | $ 70,000 |
- MINERAL PROPERTIES (Details T
- MINERAL PROPERTIES (Details Text) | Jun. 21, 2019USD ($) |
- MINERAL PROPERTIES [Abstract] | |
Under the terms of the option agreement, payments totaling $65,000 were made to the Optionor and 1,150,000 shares were issued to the Optionor | $ 65,000 |
- INCOME_(LOSS) PER SHARE (Deta
- INCOME/(LOSS) PER SHARE (Details 1) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2019 | |
Earnings per share - Basic and Diluted | ||||||
Income (Loss) for the period | $ (339,600) | $ (89,415) | ||||
Basic average common stock outstanding - Basic and Diluted | 55,931,412 | 54,430,000 | ||||
Net earnings (loss) per share discontinued operations | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ (29,607) |
Net earnings (loss) per share continuing operations | 0 | 0 | ||||
Net earnings (loss) per share - Basic and Diluted | $ 0 | $ 0 |
- RECENT SALES OF UNREGISTERE_2
- RECENT SALES OF UNREGISTERED SECURITIES (Details Text) | 6 Months Ended |
Jul. 31, 2020USD ($) | |
- RECENT SALES OF UNREGISTERED SECURITIES [Abstract] | |
In January 2020 we issued 100,000 shares to pursuant to a consulting agreement. The shares were initially valued at $105,000 with $61,250 being recognized as work program and technical expense, with the remaining $43,750 to be recognized as expense over the remaining term of the agreement. | $ 105,000 |