XML 19 R7.htm IDEA: XBRL DOCUMENT v3.24.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Cash flows from operating activities:    
Net (loss) income $ (1,033,101) $ 698,466
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 59,338 73,311
Amortization of right-of-use assets 223,285 212,210
Loss from early termination of an operating lease 7,600
Loss from disposal of a subsidiary 69,045
Loss (gain) from investment in trading securities 28,733 (19,116)
Changes in operating assets and liabilities:    
Accounts receivable 150,000 (1,650,000)
Accounts receivable – related parties 600,000
Deposits (25,000) 55,000
Prepaid expenses and other current assets 128,845 12,232
Deferred revenue (70,000) (20,785)
Taxes payable (6,915) 566,957
Accrued expenses and other liabilities 134,679 (561,677)
Lease liabilities (214,877) (190,357)
Net cash used in operating activities (17,413) (754,714)
Cash flows from investing activities:    
Purchase of property and equipment (5,086) (8,140)
Investment in trading securities (446,661) (59,396)
Loans made to a related party (17,710) (100,000)
Collection of borrowings from a related party 20,000 1,500
Net cash used in investing activities (449,457) (166,036)
Net decrease in cash (466,870) (920,750)
Cash, beginning of period 606,022 1,750,137
Cash, end of period 139,152 829,387
Supplemental disclosure of cash flow information:    
Cash paid for interest expenses
Cash paid for income tax 6,915
Supplemental disclosure of Non-cash investing and financing activities of discontinued operations    
Right-of-use assets obtained in exchange for operating lease obligations 109,492
Disposal of right-of-use assets with decrease of operating lease obligations $ 79,524