PROJECT DEVELOPMENT COSTS

12 Months Ended

Jul. 31, 2021

Research and Development [Abstract]

PROJECT DEVELOPMENT COSTS

7. PROJECT DEVELOPMENT COSTS

At July 31, 2021, the Company had one documentary film titled “It’s Complicated” about the life of former Arizona Sheriff Joseph M. Arpaio, and two feature films, entitled “Please Bay Please” and “Mistress”, that are completed and one feature film in development entitled “Taurus”. The Company also began an animated series tilted Storyland, which is currently on hold. The project development costs are summarized as follows.

	Production
	“It’s Complicated”		“Please Baby Please”			“Mistress Movie”		“Storyland”		“Taurus”		Total
Balance, February 11, 2020	$	-	$	-		$	-	$	-	$	-	$	-
Additions		134,413		-			-		-		-		134,413
Balance, July 31, 2020		134,413		-			-		-		-		134,413
Additions		27,559		2,086,103			1,057,436		12,250		1,572,208		4,755,556
Refunds		-		(52,081	)		-		-		-		(52,081	)
Capitalized Interest		-		77,722			-		-		-		77,722
Balance, July 31, 2021	$	161,972	$	2,111,744		$	1,057,436	$	12,250	$	1,572,208	$	4,915,610

During the year ended July 31, 2021, the Company paid producer fees to an officer of the Company of $25,000, which are accounted for as project development costs in the accompanying consolidated balance sheet at July 31, 2021. See note 11.

As of July 31, 2021, the Company’s management tested each of the media assets for impairment and concluded that the none of the assets had suffered any impairment of value.