Cover
Cover - USD ($) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | May 16, 2023 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jan. 31, 2023 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Current Fiscal Year End Date | --01-31 | ||
Entity File Number | 033-20966 | ||
Entity Registrant Name | LVPAI GROUP LIMITED | ||
Entity Central Index Key | 0000831378 | ||
Entity Tax Identification Number | 76-0251547 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 50 West Liberty Street | ||
Entity Address, Address Line Two | Suite 880 | ||
Entity Address, City or Town | Reno | ||
Entity Address, State or Province | NV | ||
Entity Address, Postal Zip Code | 89501 | ||
City Area Code | (646) | ||
Local Phone Number | 768-8417 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | true | ||
Entity Public Float | $ 6,230 | ||
Entity Common Stock, Shares Outstanding | 100,103,103 | ||
Document Financial Statement Error Correction [Flag] | false | ||
ICFR Auditor Attestation Flag | false | ||
Auditor Firm ID | 6108 | 5041 | |
Auditor Name | MICHAEL GILLESPIE & ASSOCIATES, PLLC | BF Borgers CPA PC (PCAOB ID 5041) | |
Auditor Location | Vancouver, Washington | Lakewood, CO |
Balance Sheets
Balance Sheets - USD ($) | Jan. 31, 2023 | Jan. 31, 2022 | |
ASSETS | |||
Total Assets | |||
LIABILITIES & STOCKHOLDERS’ DEFICIT | |||
Accrued liabilities | 420 | 4,270 | |
Note payable related parties | $ 64,607 | $ 24,499 | |
Notes Payable, Current, Related and Nonrelated Party Status [Extensible Enumeration] | Related Party [Member] | Related Party [Member] | |
Total liabilities | $ 65,027 | $ 28,769 | |
Commitments and Contingencies | |||
Stockholders’ Equity | |||
Preferred Series A stock, $0.001 par value, 20,000,000 shares authorized, 8,000,000 shares issued and outstanding | [1] | 8,000 | 8,000 |
Common stock, $0.001 par value; 300,000,000 authorized, 100,103,103 shares issued and outstanding | [1] | 100,103 | 100,103 |
Additional paid in capital | 19,518,948 | 19,518,948 | |
Accumulated deficit | (19,692,078) | (19,655,820) | |
Total Stockholders’ Deficit | (65,027) | (28,769) | |
Total Liabilities and Stockholders’ Deficit | |||
[1]Given effect of the Convert, See Note 7 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jan. 31, 2023 | Dec. 15, 2022 | Dec. 14, 2022 | Jan. 31, 2022 |
Statement of Financial Position [Abstract] | ||||
Preferred stock, par value | $ 0.001 | $ 0.001 | ||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | ||
Preferred stock, shares issued | 8,000,000 | 8,000,000 | ||
Preferred stock, shares outstanding | 8,000,000 | 8,000,000 | 0 | |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Common stock, shares authorized | 300,000,000 | 300,000,000 | ||
Common stock, shares issued | 100,103,103 | 103,103 | 100,103,103 | |
Common stock, shares outstanding | 100,103,103 | 103,103 | 100,103,103 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | ||
Income Statement [Abstract] | |||
Revenue | |||
Operating Expenses: | |||
Administrative expenses | 36,258 | 28,769 | |
Total operating expenses | 36,258 | 28,769 | |
Loss from operations | (36,258) | (28,769) | |
Other expense | |||
Other expense net | |||
Loss before provision for income taxes | (36,258) | (28,769) | |
Provision for income taxes | |||
Net Loss | $ (36,258) | $ (28,769) | |
Basic and diluted loss per common share | [1] | $ 0 | $ (0.28) |
Weighted average number of shares outstanding | [1] | 13,253,788 | 103,103 |
[1]Given effect of the Convert, See Note 7 |
Statements of Changes in Stockh
Statements of Changes in Stockholders' Equity - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total | |
Beginning balance, value at Jan. 31, 2021 | $ 10,000 | $ 103 | $ 19,616,948 | $ (19,627,051) | ||
Beginning balance, shares at Jan. 31, 2021 | 10,000,000 | 103,103 | ||||
Net loss | (28,769) | (28,769) | ||||
Ending balance, value at Jan. 31, 2022 | $ 10,000 | $ 103 | 19,616,948 | (19,655,820) | (28,769) | |
Ending balance, shares at Jan. 31, 2022 | 10,000,000 | 103,103 | ||||
Net loss | (36,258) | (36,258) | ||||
Preferred Stock converted to common stock | [1] | $ (2,000) | $ 100,000 | (98,000) | ||
Preferred stock converted to common stock, shares | (2,000,000) | 100,000,000 | ||||
Ending balance, value at Jan. 31, 2023 | $ 8,000 | $ 100,103 | $ 19,518,948 | $ (19,692,078) | $ (65,027) | |
Ending balance, shares at Jan. 31, 2023 | 8,000,000 | 100,103,103 | ||||
[1]Given effect of the Convert, See Note 7 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (36,258) | $ (28,769) |
Adjustments to reconcile net income to net cash provided by (used for) operating activities | ||
Stock- based compensation | ||
Changes in operating assets and liabilities: | ||
Accrued liabilities | (3,850) | 4,270 |
Net cash used for operating activities | (40,108) | (24,499) |
Cash Flows From Financing Activities: | ||
Proceeds from related party loans | 40,108 | 24,499 |
Net cash provided by financing activities | 40,108 | 24,499 |
Net Increase In Cash | ||
Cash At The Beginning Of The Period | ||
Cash At The End Of The Period | ||
Supplemental disclosure of cash flow information: | ||
Cash paid for interest |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 12 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Lvpai Group Limited has been dormant since November 2011. On March 16, 2020, as a result of a custodianship in Clark County, Nevada, Case Number: A-20-809716-B, Custodian Ventures LLC (“Custodian”) was appointed custodian of the Company. On March 17, 2020, Custodian appointed David Lazar as the Company’s Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer, and Chairman of the Board of Directors. David Lazar has been CEO and Chairman of the Company since May 16, 2018. David Lazar is a private investor. Mr. Lazar has been a partner at Zenith Partners International since 2013, where he specializes in research and development, sales, and marketing. From 2014 through 2015, David was the Chief Executive Officer of Dico, Inc., which was then sold to Peekay Boutiques. Since February of 2018, Mr. Lazar has been the managing member of Custodian Ventures LLC, where he specializes in assisting distressed public companies. Since March 2018, David has acted as the managing member of Activist Investing LLC, which specializes in active investing in distressed public companies. David has a diverse knowledge of financial, legal, and operations management; public company management, accounting, audit preparation, due diligence reviews, and SEC regulations. On January 25, 2021, as a result of a private transaction, 10,000,000 0.001 200 86.95 250,000 65,503 On January 25, 2021, David Lazar, serving as a director and an officer, ceased to be the Company’s Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary, and a Director. At the effective date of the transfer, Yang Fuzhu consented to act as the new President, CEO, CFO, Treasurer, Secretary and Chairman of the Board of Directors of the Company. The Company’s accounting year-end is January 31. |
Going Concern
Going Concern | 12 Months Ended |
Jan. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 2 – Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these financial statements. The Company has incurred operating losses since inception. As of January 31, 2023 the Company had negative retained earnings of 19,692,078 Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Prior to August 12, 2022 when a change of control in the Company occurred, the Company had been being funded by Mr. Fuzhu Yang who extended interest-free demand loans to the Company. Historically, the Company has raised capital through private placements, as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities, the liability for the excess share issuance, and disclosure of contingent assets and liabilities at the date of the financial statements. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Revenue Recognition On July 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). Results for reporting periods beginning after January 1, 2018, are presented under ASC 606. As of and for the year ended April 30, 2020 the financial statements were not impacted due to the application of Topic 606 because the Company had no revenues. Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On January 31, 2023, and January 31, 2022, the Company’s cash equivalents totaled $ 0 0 Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. Stock-based Compensation The Company accounts for stock-based compensation using the fair value method following the guidance outlined in Section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Codification Improvements Codification Improvements to Topic 842, Leases (Topic 842) Targeted Improvements, We adopted ASC 842 on July 1, 2020. The adoption of this guidance did not have any impact on our financial statements. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Jan. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 4 – COMMITMENTS AND CONTINGENCIES The Company did not have any contractual commitments of January 31, 2023, and 2022. |
NOTES PAYABLE-RELATED PARY
NOTES PAYABLE-RELATED PARY | 12 Months Ended |
Jan. 31, 2023 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE-RELATED PARY | NOTE 5 – NOTES PAYABLE-RELATED PARY Mr. Chen Yuanhang, the Company’s former chief executive officer, the principal member of the Company’s Court-appointed custodian is considered a related party. During the year ended January 31, 2023, he extended $ 40,108 Mr. Fuzhu Yang, the Company’s former chief executive officer and chief financial officer the principal member of the Company’s Court-appointed custodian is considered a related party. During the year ended January 31, 2023, he extended $ 24,499 |
HOLDER
HOLDER | 12 Months Ended |
Jan. 31, 2023 | |
Holder | |
HOLDER | NOTE 6 – HOLDER Common Stock As of January 31, 2023, Common stock, $ 0.001 300,000,000 100,103,103 Preferred Stock The Company’s board of directors has the authority, without further action by stockholders, to issue up to 20,000,000 As of January 31, 2023 and 2022, 8,000,000 0 0.001 20,000,000 |
PREFERRED STOCK CONVERT TO COMM
PREFERRED STOCK CONVERT TO COMMON STOCK | 12 Months Ended |
Jan. 31, 2023 | |
Equity [Abstract] | |
PREFERRED STOCK CONVERT TO COMMON STOCK | NOTE 7 – PREFERRED STOCK CONVERT TO COMMON STOCK Effective on December 15, 2022, the Company has approved a 1 for 50 conversion to convert 2,000,000 100,000,000 8,000,000 103,103 0.001 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Jan. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENTS Company evaluates subsequent events that have occurred after the balance sheet date but before the financial statements are issued. There are two types of subsequent events: (1) recognized, or those that provide additional evidence with respect to conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements, and (2) non-recognized, or those that provide evidence with respect to conditions that did not exist at the date of the balance sheet but arose subsequent to that date. There was no event that management deemed necessary for disclosure as a material subsequent event. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of liabilities, the liability for the excess share issuance, and disclosure of contingent assets and liabilities at the date of the financial statements. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. |
Revenue Recognition | Revenue Recognition On July 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”). Results for reporting periods beginning after January 1, 2018, are presented under ASC 606. As of and for the year ended April 30, 2020 the financial statements were not impacted due to the application of Topic 606 because the Company had no revenues. |
Cash and cash equivalents | Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On January 31, 2023, and January 31, 2022, the Company’s cash equivalents totaled $ 0 0 |
Income taxes | Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. |
Stock-based Compensation | Stock-based Compensation The Company accounts for stock-based compensation using the fair value method following the guidance outlined in Section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service. |
Net Loss per Share | Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Codification Improvements Codification Improvements to Topic 842, Leases (Topic 842) Targeted Improvements, We adopted ASC 842 on July 1, 2020. The adoption of this guidance did not have any impact on our financial statements. |
ORGANIZATION AND DESCRIPTION _2
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - Series A Preferred Stock [Member] | Jan. 25, 2021 USD ($) $ / shares shares |
Private Transaction [Member] | |
Ownership percentage | 86.95% |
Private Transaction [Member] | |
Shares issued in transaction, shares | shares | 10,000,000 |
Sale of stock price per share | $ / shares | $ 0.001 |
Shares issued upon conversion | shares | 200 |
Proceeds from issuance of stock | $ | $ 250,000 |
Private Transaction [Member] | David Lazar [Member] | |
Debt forgiven | $ | $ 65,503 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | Jan. 31, 2023 | Jan. 31, 2022 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 19,692,078 | $ 19,655,820 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Jan. 31, 2023 | Jan. 31, 2022 |
Accounting Policies [Abstract] | ||
Cash equivalents | $ 0 | $ 0 |
NOTES PAYABLE-RELATED PARY (Det
NOTES PAYABLE-RELATED PARY (Details Narrative) | Jan. 31, 2023 USD ($) |
Mr.Chen Yuanhang [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |
Interest free demand loans | $ 40,108 |
Mr.Fuzhu Yang [Member] | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |
Interest free demand loans | $ 24,499 |
HOLDER (Details Narrative)
HOLDER (Details Narrative) - $ / shares | Jan. 31, 2023 | Dec. 15, 2022 | Dec. 14, 2022 | Jan. 31, 2022 |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Common stock, shares authorized | 300,000,000 | 300,000,000 | ||
Common stock, shares issued | 100,103,103 | 103,103 | 100,103,103 | |
Common stock, shares outstanding | 100,103,103 | 103,103 | 100,103,103 | |
Preferred stock, shares issued | 8,000,000 | 8,000,000 | ||
Preferred stock, shares outstanding | 8,000,000 | 8,000,000 | 0 | |
Preferred stock, shares par value | $ 0.001 | $ 0.001 | ||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | ||
Maximum [Member] | ||||
Preferred stock, shares issued | 20,000,000 |
PREFERRED STOCK CONVERT TO CO_2
PREFERRED STOCK CONVERT TO COMMON STOCK (Details Narrative) - $ / shares | Dec. 15, 2022 | Jan. 31, 2023 | Dec. 14, 2022 | Jan. 31, 2022 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Conversion of stock, description | 1 for 50 conversion to convert | |||
Preferred stock, shares outstanding | 8,000,000 | 8,000,000 | 0 | |
Common stock, shares issued | 100,103,103 | 103,103 | 100,103,103 | |
Common stock, shares outstanding | 100,103,103 | 103,103 | 100,103,103 | |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |
Preferred Stock [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Shares converted | 2,000,000 | |||
Common Stock [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Shares issued | 100,000,000 |