XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
ORGANIZATION AND BUSINESS
3 Months Ended
Aug. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION AND BUSINESS

NOTE 1 – ORGANIZATION AND BUSINESS

 

Blue Chip Capital Group, Inc., (the “Company”) was incorporated in the State of Delaware on November 27, 2019, under the name of Blue-Chip Financial Group Corp. It was subsequently re-domiciled to the state of Nevada on December 17, 2020, with a name change to Blue Chip Capital Group, Inc.  Blue Chip Capital Group, Inc (the “Company”) owns 100% of Raisewise USA, Inc., a company incorporated in the State of New York on June 15, 2020. The Company’s Raisewise USA platform will be operating through several wholly or majority owned Subsidiaries in Morocco, Sweden and Brazil which will conduct business, when and if operational, in various U.S. and international jurisdictions.

 

To date, the Company has established four wholly owned and majority owned subsidiaries: Raisewise USA, Inc., a New York corporation (100% owned); Raisewise Sweden AB (80% owned), Raisewise Morocco SARL (100% owned) and the recently formed Raisewise Brazil LTDA (95% owned) to operate in the Crowdfunding industry under the Raisewise name in their respective jurisdictions, with each of these subsidiaries owning its own platform. The first one established, Raisewise USA, has been registered and authorized as a Crowdfunding entity by the United States Securities and Exchange Commission (“SEC”). Raisewise Sweden and Raisewise Morocco have received requisite licenses from the respective securities/regulatory authorities in Sweden and Morocco and Raisewise Brazil was recently organized and is in the process for applying for licenses in Brazil, the timing of which cannot be determined at present or at which time, if ever, that Raisewise Brazil will own its own platform and have license and management agreements.

 

On January 8, 2021, the Company created an additional wholly subsidiary entitled Raise Wise Morocco L.L.C. No assets or liabilities have been recorded on its balance sheet, nor has the subsidiary had any transactions since inception. The subsidiary’s purpose is to create a Crowdfunding platform that provides individual investors with access to investment opportunities. The company owns 100% of the subsidiary.

 

The Company is in the process of establishing a Crowdfunding platform in Sweden under the name RaiseWise Sweden AB. The Company formed a Swedish Limited liability on May 21, 2020, company with the name RaiseWise Sweden AB that is a wholly owned subsidiary of the Company that has been granted a registration to provide crowd funding services with the national regulator in Sweden). On December 22, 2020, Medcap LTD agreed to purchase a twenty percent (20%) ownership in the wholly owned subsidiary for $50,000. There have been no transactions currently.