Discontinued Operations

12 Months Ended

Jul. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

3. DISCONTINUED OPERATIONS

On May 3, 2019 the Company exchanged its inventory for forgiveness of accrued unpaid rent. Concurrent with the exchange management with the appropriate level of authority determined to discontinue the operations of the product segment.

The detail of the consolidated balance sheets, the consolidated statement of operations and consolidated cash flows for the discontinued operations is as stated below:

	As of July 31, 2020		As of July 31, 2019
Current assets – discontinued operations
Prepaid expenses	$	-	$	3
Total current assets – discontinued operations		-		3
Total assets – discontinued operations	$	-	$	3
Current liabilities – discontinued operations
Accounts payable and accrued expenses	$	50	$	55
Total current liabilities – discontinued operations		50		55
Total liabilities – discontinued operations	$	50	$	55

	For the year ended 2020		For the year ended 2019
Selling, general and administrative expenses	$	2	$	(37	)
Other income		-		12
Gain on exchange of inventory		-		15
Gain (Loss) from discontinued operations		2		(10	)
Basic and diluted income (loss) per common share	$	0.00	$	(0.00	)

	For the year ended 2020		For the year ended 2019
Cash used in operations for discontinued operations:
Gain (loss) from discontinued operations	$	2	$	(10	)
Gain on exchange of inventory		-		(15	)
Accounts payable and accrued expenses		-		4
Cash provided by discontinued operations	$	2	$	(21	)