3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Policies)	6 Months Ended
Jul. 31, 2023
Policies
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. ASC 606 adoption is on February 1, 2018. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. GLIDELOGIC CORP. recognizes revenue in accordance with this core principle by applying the following steps: Step 1: Identifying the contract(s) with the customer. Step 2: Identifying the performance obligation to satisfy the contract. Step 3: Determining the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Revenue recognition. The Company's revenues are bifurcated into two categories: software and services. Revenues from software are recognized at a point-in-time as ownership is transferred to the customer at a distinct point in time, in accordance with the terms of the contract. For services, revenue is recognized over time as the services are rendered and milestones are achieved, pursuant to the terms specified in the service agreement. The Company shall not be liable for any failure to perform its obligations, whether related to software or services, if such failure is due to circumstances beyond its reasonable control. Any liability of the Company shall be limited to the total of all amounts paid by the customer for software and/or services under the contract. Payment Terms: The Company plans to collect payment from customers prior to transferring ownership of the software and may require deposits from customers at the time an order is placed. When deposits are collected prior to transferring ownership of the software, the Company recognizes deferred revenue until the transfer is made. Similarly, for services, the Company may require an upfront retainer or periodic payments, as outlined in the service agreement. Any prepaid amounts for services will be recognized as deferred revenue until the services are rendered. Nonmonetary Exchange Contracts: The Company accepts barter contracts and recognizes any revenue originating from such contracts, whether related to software or services, if a barter agreement is made between both parties. The following are details pertaining to the Company’s most recent nonmonetary exchange contract and its revenue recognition procedure: For the six months ended July 31, 2023, the Company rendered services to Streamline USA, Inc. (“Streamline” or “SLI”) as depicted in the following 2 key points: `§`The objective is to provide a one-time, comprehensive consulting service aimed at integrating Artificial Intelligence (AI) and Real-World Asset tokenization in Streamline's entertainment marketing operations. `§`The duration of the service is designed to be a one-time consultation, providing Streamline with a comprehensive strategy and actionable insights. At the end of the consultation, a detailed report summarizing findings, recommendations, and implementation guidelines will be provided to Streamline. The above 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"). As of the end of July 2023, the reports of analysis, evaluation, and recommendation on the subject matter have all been delivered, thus, the service was deemed completed and all $30,000 was realized in Q2.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Policies)

6 Months Ended

Jul. 31, 2023

Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Customers”. ASC 606 adoption is on February 1, 2018. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

GLIDELOGIC CORP. recognizes revenue in accordance with this core principle by applying the following steps:

Step 1: Identifying the contract(s) with the customer.

Step 2: Identifying the performance obligation to satisfy the contract.

Step 3: Determining the transaction price.

Step 4: Allocate the transaction price to the performance obligations in the contract.

Step 5: Revenue recognition.

The Company's revenues are bifurcated into two categories: software and services. Revenues from software are recognized at a point-in-time as ownership is transferred to the customer at a distinct point in time, in accordance with the terms of the contract. For services, revenue is recognized over time as the services are rendered and milestones are achieved, pursuant to the terms specified in the service agreement.

The Company shall not be liable for any failure to perform its obligations, whether related to software or services, if such failure is due to circumstances beyond its reasonable control. Any liability of the Company shall be limited to the total of all amounts paid by the customer for software and/or services under the contract.

Payment Terms: The Company plans to collect payment from customers prior to transferring ownership of the software and may require deposits from customers at the time an order is placed. When deposits are collected prior to transferring ownership of the software, the Company recognizes deferred revenue until the transfer is made. Similarly, for services, the Company may require an upfront retainer or periodic payments, as outlined in the service agreement. Any prepaid amounts for services will be recognized as deferred revenue until the services are rendered.

Nonmonetary Exchange Contracts: The Company accepts barter contracts and recognizes any revenue originating from such contracts, whether related to software or services, if a barter agreement is made between both parties.

The following are details pertaining to the Company’s most recent nonmonetary exchange contract and its revenue recognition procedure:

For the six months ended July 31, 2023, the Company rendered services to Streamline USA, Inc. (“Streamline” or “SLI”) as depicted in the following 2 key points:

§The objective is to provide a one-time, comprehensive consulting service aimed at integrating Artificial Intelligence (AI) and Real-World Asset tokenization in Streamline's entertainment marketing operations.

§The duration of the service is designed to be a one-time consultation, providing Streamline with a comprehensive strategy and actionable insights. At the end of the consultation, a detailed report summarizing findings, recommendations, and implementation guidelines will be provided to Streamline.

The above 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").

As of the end of July 2023, the reports of analysis, evaluation, and recommendation on the subject matter have all been delivered, thus, the service was deemed completed and all $30,000 was realized in Q2.