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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: CASH AND CASH EQUIVALENTS (Policies)
3 Months Ended
Jul. 31, 2021
Policies  
CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS

 

We consider all highly liquid investments with maturities of three months or less at the time of purchase to be cash and equivalents. As of July 31, 2021, we held $489,079 of our cash and cash equivalents with commercial banking institutions in the PRC, and $181,353 with banks in the United States. As of April 30, 2021, we held $1,403,969 of our cash and cash equivalents with commercial banking institution in PRC, and $161,860 in the United States. PRC banks protect consumers against loss if their bank or thrift institution fails, and each of our PRC bank account is insured up to RMB500,000 (approximately $77,000), As a result, cash held in PRC financial institutions of $256,746 and $1,224,263 is not insured as of July 31, 2021 and April 30, 2021, respectively. We have not experienced any losses in such bank accounts through July 31, 2021.