DISCONTINUED OPERATION

6 Months Ended

Jan. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATION

NOTE 4 – DISCONTINUED OPERATION

The change of the business qualified as a discontinued operation of the Company (Note 1). In conjunction with the discontinued operations, the Company has excluded results of discontinued operations from its consolidated statements of operations to classify that business as discontinued operations in all periods presented. The liabilities of the discontinued operations were presented separately under the captions “Liabilities from discontinued operation” in the accompanying consolidated balance sheets at January 31, 2020 and July 31, 2019.

The following table shows the results of operations which are included in the loss from discontinued operations:

	Three Months Ended					Six Months Ended
	January 31,					January 31,
	2020		2019			2020		2019
Revenue	$	—	$	—		$	—	$	—
Cost of revenue		—		—			—		—
Inventory valuation reserve		—		(404,350	)		—		(404,350	)
Gross profit		—		(404,350	)		—		(404,350	)
General and administrative		—		(9,000	)		—		(27,520	)
Stock-based compensation		—		(28,125	)		—		(46,875	)
Operating loss		—		(441,475	)		—		(478,745	)
Income tax provision		—		—			—		—
Loss from discontinued operations, net of tax	$	—	$	(441,475	)	$	—	$	(478,745	)

The following table summarizes the carrying amounts of the net liabilities from discontinued operations as of January 31, 2020 and July 31, 2019, respectively.

	January 31,		July 31,
	2020		2019
Liabilities from discontinued operations
Advance from customer	$	19,500	$	19,500