ASSETS PURCHASE

6 Months Ended

Oct. 31, 2022

ASSETS PURCHASE

ASSETS PURCHASE

NOTE 4 – ASSETS PURCHASE

On July 7, 2022, the Company entered into an Assets Purchase Agreement to acquire inventory and intangible assets from Orev LLC. The purchase price consisted of $50,000 cash and 200,000 shares at $0.30 per share of the Company’s common stock for total consideration of $109,000. The Company acquired inventory of $23,447 and intangible assets valued at $85,553.

The inventory acquired are Nutriumph Products for resale purpose. No reserves are considered necessary for slow moving or obsolete inventory as inventory on hand at quarter-end was purchased near the end of the quarter. As of October 31, 2022 and April 30, 2022, the Company had inventory of $32,822 and $0, respectively.

The intangible assets comprised of proprietary formula at $85,553 and Herberall trademarks with a deemed value of $0. The proprietary formula has an estimated useful life of three years. The Company recognized amortization expense of $9,005 for the six months ended October 31, 2022, recorded as general and administrative expense. As of October 31, 2022, the intangible asset was $76,548, net of accumulated amortization of $9,005. Based on the carrying value of definite-lived intangible assets as of October 31, 2022, the amortization expense for the next three years will be as follows:

	Amortization
Year Ended April 30,	Expense
2023	$	14,259
2024		28,518
2025		28,518
Thereafter		5,253
	$	76,548