DUE TO RELATED PARTIES

6 Months Ended

Jan. 31, 2022

Related Party Transactions [Abstract]

DUE TO RELATED PARTIES

NOTE 4 – DUE TO RELATED PARTIES

During the six months ended January 31, 2022 and 2021, the former and current shareholders of the Company advanced $95,560 and $39,561 for working capital purpose, respectively.

During the six months ended January 31, 2022 and 2021, the Company repaid $1,202 and $0 due to a former shareholder of the Company, respectively.

On August 26, 2021 and pursuant to the Stock Purchase Agreement dated on August 6, 2021 (see Note 1 - Change of control), Chuah Su Mei, the Company’s former Chief Executive Officer, President and Director and all other former officers forgave all amounts due to them from the Company. In regard to this forgiveness, the Company recognized debt forgiveness by related parties of $349,716 as additional paid-in-capital.

During the six months ended January 31, 2022, the Company accrued $76,500 for the compensation of its CEO and five directors. During the six months ended January 31, 2022, the Company paid six months’ salary of $69,000 to the five directors. As of January 31, 2022, the Company owed $19,000 unpaid compensation to the CEO, which was included in accounts payable and accrued liabilities, and prepaid the amount of $11,500 for compensation to the five directors.

As of January 31, 2022 and July 31, 2021, the Company owed $77,807 and $333,165 to related parties, respectively. These loans were unsecured, none-interest bearing, and due on demand.