4. ACCOUNTS RECEIVABLE

6 Months Ended

Jul. 31, 2023

Notes

4. ACCOUNTS RECEIVABLE

4.Accounts Receivable 

Accounts receivables are stated at their carrying values, net of a reserve for doubtful accounts. For the six months ended July 31, 2023, the Company rendered services to Streamline USA, Inc. (“Streamline” or “SLI”). This created a Nonmonetary Exchange Invoice for $30,000. Consequently, the Company entered into a Nonmonetary Exchange Agreement with Streamline USA, Inc. as depicted below:

§The Company is to provide to Streamline USA, Inc. the equivalent of Thirty Thousand Dollars ($30,000) in Artificial Intelligence (AI) technology time (the  “AI Time Credit"). 

§The Company offsets “Accounts Receivable from” and “SLI Loan Payable to” until the full amount of $30,000 is counterbalanced.  

As of July 31, 2023, the Company has accounts receivable of $10,094. Hence, this figure is also the remaining credit that still needs to be counterbalanced (as portrayed below).   

Nonmonetary Exchange Invoice Amount	$30,000
SLI Loan Payable Payoff	(19,906)
Due to Glidelogic Corp.	$10,094

As of July 31, 2023, this loan has been fully paid with the Nonmonetary Exchange agreement stated above. Consequently, there is still an Accounts Receivable of $10,094 to be counterbalanced by future dealings with Streamline USA, Inc.