10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934   FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2024

Commission file number 333-180164

NFiniTi inc.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation or organization)

Pampana 18

La Cruz, C.P. 63734

La Cruz de Huanacaxtle

Nayarit, Mexico

(Address of principal executive offices, including zip code.)

+523 221984348

(Telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Exchange Act: None

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days. Yes ☒     No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒     No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, an emerging growth company or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-Accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒     No ☐

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 120,000,000 shares as of March 11, 2024.

ITEM 1. FINANCIAL INFORMATION

		Page
PART I – FINANCIAL INFORMATION
Item 1.	Condensed Financial Statements		2
Item 2.	Management’s Discussion and Analysis or Plan of Operation		11
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		12
Item 4.	Controls and Procedures		12
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings		13
Item 1a.	Risk Factors		13
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		13
Item 3.	Defaults Upon Senior Securities		13
Item 4.	Mine Safety Disclosures		13
Item 5.	Other Information		13
Item 6.	Exhibits		14

2

NFiniTi inc.
Balance Sheets
	As of			As of
	January 31, 2024			October 31, 2023
	(Unaudited)			(Audited)
ASSETS
Current Assets
Cash	$	-		$	-
Total Current Assets		-			-
Total Assets	$	-		$	-
LIABILITIES & STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts Payable	$	8,816		$	10,357
Loans Payable - Shareholders		130,033			116,925
Loan Payable - Related Party		6,744			6,744
Total Current Liabilities		145,593			134,026
Commitments and Contingencies
Stockholders' Deficit
Common stock, $0.001 par value, 450,000,000 shares authorized; 120,000,000 shares issued and outstanding as of January 31, 2024 and October 31, 2023	$	120,000		$	120,000
Additional Paid-In Capital		(60,000	)		(60,000	)
Accumulated deficit		(205,593	)		(194,026	)
Total Stockholders' Deficit		(145,593	)		(134,026	)
Total Liabilities & Stockholders' Deficit	$	-		$	-
The Accompanying Notes are an Integral Part of These Unaudited Condensed Financial Statements

3

NFiniTi inc.
Statements of Operations (Unaudited)
	Three Months			Three Months
	ended			ended
	January 31, 2024			January 31, 2023
Revenues	$	-		$	-
Expenses
Professional Fees		11,567			6,198
Total Expenses		11,567			6,198
Net Operating (Loss)		(11,567	)		(6,198	)
Net (Loss)	$	(11,567	)	$	(6,198	)
Net Loss Per Basic and Diluted share	$	(0.00	)	$	(0.00	)
Weighted average number of Common Shares outstanding		120,000,000			120,000,000
The Accompanying Notes are an Integral Part of These Unaudited Condensed Financial Statements

4

NFiniTi inc.
Condensed Statements of Changes in Stockholders' Deficit
(Unaudited)
			Common		Additional						Total
	Common Stock		Stock Amount		Paid-in Capital			Accumulated Deficit			Stockholders' Deficit
For the Three Months Ended January 31, 2024
Balance, October 31, 2023		120,000,000	$	120,000	$	(60,000	)	$	(194,026	)	$	(134,026	)
Net loss,  January 31, 2024									(11,567	)		(11,567	)
Balance, January 31, 2024		120,000,000	$	120,000	$	(60,000	)	$	(205,593	)	$	(145,593	)
For the Three Months Ended January 31, 2023
Balance, October 31, 2022		120,000,000	$	120,000	$	(60,000	)	$	(176,363	)	$	(116,363	)
Net loss,  January 31, 2023									(6,198	)		(6,198	)
Balance, January 31, 2023		120,000,000	$	120,000	$	(60,000	)	$	(182,561	)	$	(122,561	)
The Accompanying Notes are an Integral Part of These Unaudited Condensed Financial Statements

5

NFiniTi inc.
Statements of Cash Flows (Unaudited)
	Three Months			Three Months
	ended			ended
	January 31, 2024			January 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$	(11,567	)	$	(6,198	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Changes in operating assets and liabilities:
Accounts Payable		(1,541	)		1,097
Net cash (used in) operating activities		(13,108	)		(5,101	)
CASH FLOWS FROM INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Loan Payable - Shareholders		13,108			5,101
Net cash provided by financing activities		13,108			5,101
Net change in cash		-			-
Cash at beginning of period		-			-
Cash at end of period	$	-		$	-
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during year for :
Interest	$	-		$	-
Income Taxes	$	-		$	-
The Accompanying Notes are an Integral Part of These Unaudited Condensed Financial Statements

6

NFiniTi inc.

Notes to Condensed Financial Statements

January 31, 2024 (unaudited)

NOTE 1.   ORGANIZATION AND DESCRIPTION OF BUSINESS

NFiniTi inc. was incorporated under the laws of the State of Nevada on January 23, 2012, as American Oil and Gas Inc.  The Company was formed to engage in the acquisition, exploration and development of oil and gas properties.  On December 30, 2021, the name of the Company was changed to NFiniTi inc.

The Company is in the exploration stage. The Company currently does not operate any properties.  The Company has not commenced any exploration activities.

NOTE 2.   GOING CONCERN

The accompanying financial statements are presented on a going concern basis.  The Company has had limited operations during the period from January 23, 2012 (date of inception) to January 31, 2024 and generated an accumulated deficit of $205,593.  This condition raises substantial doubt about the Company’s ability to continue as a going concern.  The Company is currently in the exploration stage with no operations and has minimal expenses, however, management believes that the Company’s current cash is insufficient to cover the expenses they will incur during the next twelve months in a limited operations scenario or until it raises additional funding. The Company has depended upon loans from its president and shareholders for operating capital.  As of January 31, 2024, the Company had a working capital deficit of $145,593 and $0 cash, compared to a working capital deficit of $134,026 and cash of $0 as of October 31, 2023.

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 3.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our audited financial statements included in our Annual Report on Form 10-K for the year ended October 31, 2023.

7

NFiniTi inc.

Notes to Condensed Financial Statements

January 31, 2024 (unaudited)

In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair presentation of financial statements for the interim period, have been included.

Basic Earnings (loss) Per Share

ASC No. 260, “Earnings Per Share”, specifies the computation, presentation, and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.   Basic net earnings (loss) per share amounts is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding.  Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.

Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair Value of Financial Instruments

The carrying amount of cash, account payable, loans payable – related parties approximate their estimated fair value due to the short-term maturities of these financial instruments.

Income Taxes

Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income and research and development credits.

Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

8

NFiniTi inc.

Notes to Condensed Financial Statements

January 31, 2024 (unaudited)

ASC 740, clarifies the accounting for uncertainty in income taxes recognized in the financial statements. ASC 740 provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the position. Income tax positions must meet a more-likely-than-not recognition threshold to be recognized. ASC 740 also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. We have determined that the Company does not have uncertain tax positions on its tax returns for the years 2023 and prior. Based on evaluation of the 2022 transactions and events, the Company does not have any material uncertain tax positions that require measurement. Because the Company had a full valuation allowance on its deferred tax assets as of the years ended October 31, 2023 and 2022, the Company has not recognized any tax benefits since inception.

Our policy is to recognize interest and/or penalties related to income tax matters in income tax expense. We had no accrual for interest or penalties on our balance sheets at January 31, 2024 or 2023, and have not recognized interest and/or penalties in the statement of operations for the three months ended January 31, 2024 or 2023.

Revenue

The Company records revenue on an accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured.  The Company has not generated any revenue since its inception.

Advertising

The Company will expense its advertising when incurred. There has been no advertising since inception.

Stock-Based Compensation

The Company account for equity awards issued to employees and non-employees for services rendered in accordance with the provisions of ASC 718, “Compensation – Stock Compensation”.  These transactions are accounted for based on the grant date fair value of the equity award issued.  A resulting compensations expense is recorded over the requisite service period, which is typically the vesting period. 

NOTE 4.   RECENT ACCOUNTING PRONOUCEMENTS

The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and believes that none of them will have a material effect on the Company’s financial statements.

NOTE 5.   RELATED PARTY TRANSACTIONS

As of January 31, 2024 and 2023, $6,744 was owed to Michael Noble, current president of the Company from funds loaned by him to the Company and is non-interest bearing with no specific repayment terms. 

9

NFiniTi inc.

Notes to Condensed Financial Statements

January 31, 2024 (unaudited)

As of January 31, 2024 and 2023, $130,033 and $104,519 was owed to shareholders of the Company from funds loaned by them to the Company and is non-interest bearing with no specific repayment terms.  The Company received proceeds of $113,108 and $5,101 during the three months ended January 31, 2024 and 2023, respectively, and made no repayments.

The sole officer and director of the Company may, in the future, become involved in other business opportunities as they become available, he may face a conflict in selecting between the Company and his other business opportunities.  The Company has not formulated a policy for the resolution on such conflicts.

NOTE 6.  STOCKHOLDERS’ DEFICIT

The stockholders’ deficit section of the Company contains the following classes of capital stock as of January 31, 2024 and 2023:

Common stock, $ 0.001 par value: 450,000,000 shares authorized; 120,000,000 shares issued and outstanding.

NOTE 7.  SUBSEQUENT EVENTS

The Company has evaluated events subsequent to the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that, other than the event noted above, no subsequent events occurred that require recognition or disclosure in the financial statements.

10

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

Forward Looking Statements

This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Results of Operations

We generated no revenue for the three-month periods ended January 31, 2024 and 2023.

We incurred operating expenses of $11,567 and $6,198 for the three-month periods ended January 31, 2024 and 2023, respectively. The operating expenses were comprised of professional fees. The increase was due to additional professional fees.

Our net loss for the three months ended January 31, 2024 and 2023 was $11,567 and $6,198, respectively.

Liquidity and Capital Resources

Our cash balance at January 31, 2024 was $0, with $8,816 in accounts payable, $130,033 in loans payable to shareholders, and $6,744 in loans payable to the Company’s sole officer and director, Michael Noble. If we experience a shortage of funds in the next twelve months, we may utilize additional funds from Mr. Noble, and our major shareholder, Robert Gelfand, who have agreed to advance funds for operations, however they have no formal commitment, arrangement or legal obligation to advance or loan funds to us.

Net cash used in operating activities was $13,108 and $5,101 during the three months ended January 31, 2024 and 2023, respectively.

Net cash used in investing activities was $0 during the three months ended January 31, 2024 and 2023.

Net cash provided by financing activities was $13,108 and $5,101 during the three months ended January 31, 2024 and 2023, respectively.

Plan of Operation

We are an exploration stage company with no revenues and a short operating history. Our independent auditor has issued an audit opinion on our October 31, 2023 financial statements that includes a statement expressing substantial doubt as to our ability to continue as a going concern.

Our focus for the fiscal year ending October 31, 2024 will be on pursuing other business opportunities to increase shareholder value.

During fiscal 2024, we anticipate spending $10,000 on professional fees, including fees payable for complying with reporting obligations, $5,000 in general administrative costs and $1,500 in working capital. Total expenditures over the next 12 months are therefore expected to be approximately $16,500.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

11

Going Concern

Our auditor has issued a going concern opinion on our October 31, 2023 financial statements. The continuation of the Company is dependent upon the continued financial support from our shareholders, our ability to obtain necessary equity financing to continue operations and the attainment of profitable operations.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not required under Rule 12b-2 of the Securities Exchange Act of 1934 for “smaller reporting companies.”

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

Management maintains “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

In connection with the preparation of this quarterly report on Form 10-Q, an evaluation was carried out by management, with the participation of the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of January 31, 2024.

Based on that evaluation, management concluded, as of the end of the period covered by this report, that our disclosure controls and procedures were not effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Securities and Exchange Commission’s rules and forms.

Changes in Internal Controls over Financial Reporting

There have been no changes in the internal controls over financial reporting during the quarter ended January 31, 2024, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting subsequent to the date of management’s last evaluation.

12

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Our Company is not involved in any material litigation and we are unaware of any threatened material litigation. From time to time, we may become involved in litigation relating to claims arising from the ordinary course of our business.

ITEM 1A. RISK FACTORS

Not required under Rule 12b-2 of the Securities Exchange Act of 1934 for “smaller reporting companies.”

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

There were no defaults upon senior securities during the period ended January 31, 2024.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

13

ITEM 6. EXHIBITS.

The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our original Registration Statement on Form S-1, filed under SEC File Number 333-180164, at the SEC website at www.sec.gov:

Exhibit No.	Description
3.1	Articles of Incorporation*
3.2	Bylaws*
31	Sec. 302 Certification of Chief Executive Officer and Chief Financial Officer
32	Sec. 906 Certification of Chief Executive Officer and Chief Financial Officer
101.INS	Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH	Inline XBRL Taxonomy Extension Schema Document.
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB	Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104	Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

14

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	NFiniTi inc. Registrant
Date March 13, 2024	By:	/s/ Michael Noble
		Michael Noble, Chief Executive Officer, Chief Financial Officer and Director

15

EX-31

EXHIBIT 31

Certification of Chief Executive Officer and Chief Financial Officer

pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Michael Noble, certify that:

1.	I have reviewed this report on Form 10-Q of NFiniTi inc.
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 13, 2024

/s/ Michael Noble

Michael Noble

Chief Executive Officer and Chief Financial Officer

EX-32

EXHIBIT 32

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of NFiniTi inc. (the “Company”) on Form 10-Q for the period ending January 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Michael Noble, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

IN WITNESS WHEREOF, the undersigned has executed this certification as of the 13^th day of March, 2024.

/s/ Michael Noble

Chief Executive Officer and Chief Financial Officer

XML

Cover - shares	3 Months Ended
	Jan. 31, 2024	Mar. 11, 2024
Cover [Abstract]
Entity Registrant Name	NFiniTi inc.
Entity Central Index Key	0001544400
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--10-31
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jan. 31, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		120,000,000
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-180164
Entity Incorporation State Country Code	NV
Entity Address Address Line 1	Pampana 18
Entity Address Address Line 2	La Cruz, C.P. 63734
Entity Address Address Line 3	La Cruz de Huanacaxtle
Entity Address City Or Town	Nayarit
Entity Address Country	MX
City Area Code	523
Local Phone Number	221984348
Entity Interactive Data Current	Yes

XML

Balance Sheets - USD ($)	Jan. 31, 2024	Oct. 31, 2023
Current Assets
Cash	$ 0	$ 0
Total Current Assets	0	0
Total Assets	0	0
Current Liabilities
Accounts Payable	8,816	10,357
Loans Payable - Shareholders	130,033	116,925
Loan Payable - Related Party	6,744	6,744
Total Current Liabilities	145,593	134,026
Stockholders' Deficit
Common stock, $0.001 par value, 450,000,000 shares authorized; 120,000,000 shares issued and outstanding as of January 31, 2024 and October 31, 2023	120,000	120,000
Additional Paid-In Capital	(60,000)	(60,000)
Accumulated deficit	(205,593)	(194,026)
Total Stockholders' Deficit	(145,593)	(134,026)
Total Liabilities & Stockholders' Deficit	$ 0	$ 0

XML

Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2024	Oct. 31, 2023
Balance Sheets
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	120,000,000	120,000,000
Common stock, shares outstanding	120,000,000	120,000,000

XML

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Statements of Operations (Unaudited)
Revenues	$ 0	$ 0
Expenses
Professional Fees	11,567	6,198
Total Expenses	11,567	6,198
Net Operating (Loss)	(11,567)	(6,198)
Net (Loss)	$ (11,567)	$ (6,198)
Net Loss Per Basic and Diluted share	$ (0.00)	$ (0.00)
Weighted average number of Common Shares outstanding	120,000,000	120,000,000

XML

Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Total	Additional Paid-In Capital	Common Stock	Accumulated Deficit
Balance, shares at Oct. 31, 2022			120,000,000
Balance, amount at Oct. 31, 2022	$ (116,363)	$ (60,000)	$ 120,000	$ (176,363)
Net loss	(6,198)			(6,198)
Balance, shares at Jan. 31, 2023			120,000,000
Balance, amount at Jan. 31, 2023	(122,561)	(60,000)	$ 120,000	(182,561)
Balance, shares at Oct. 31, 2023			120,000,000
Balance, amount at Oct. 31, 2023	(134,026)	(60,000)	$ 120,000	(194,026)
Net loss	(11,567)			(11,567)
Balance, shares at Jan. 31, 2024			120,000,000
Balance, amount at Jan. 31, 2024	$ (145,593)	$ (60,000)	$ 120,000	$ (205,593)

XML

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (11,567)	$ (6,198)
Changes in operating assets and liabilities:
Accounts Payable	(1,541)	1,097
Net cash (used in) operating activities	(13,108)	(5,101)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan Payable - Shareholders	13,108	5,101
Net cash provided by financing activities	13,108	5,101
Net change in cash	0	0
Cash at beginning of period	0	0
Cash at end of period	0	0
Cash paid during year for :
Interest	0	0
Income Taxes	$ 0	$ 0

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ORGANIZATION AND DESCRIPTION OF BUSINESS

3 Months Ended

Jan. 31, 2024

ORGANIZATION AND DESCRIPTION OF BUSINESS

ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1.   ORGANIZATION AND DESCRIPTION OF BUSINESS

NFiniTi inc. was incorporated under the laws of the State of Nevada on January 23, 2012, as American Oil and Gas Inc.  The Company was formed to engage in the acquisition, exploration and development of oil and gas properties.  On December 30, 2021, the name of the Company was changed to NFiniTi inc.

The Company is in the exploration stage. The Company currently does not operate any properties.  The Company has not commenced any exploration activities.

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GOING CONCERN

3 Months Ended

Jan. 31, 2024

GOING CONCERN

GOING CONCERN

NOTE 2.   GOING CONCERN

The accompanying financial statements are presented on a going concern basis.  The Company has had limited operations during the period from January 23, 2012 (date of inception) to January 31, 2024 and generated an accumulated deficit of $205,593.  This condition raises substantial doubt about the Company’s ability to continue as a going concern.  The Company is currently in the exploration stage with no operations and has minimal expenses, however, management believes that the Company’s current cash is insufficient to cover the expenses they will incur during the next twelve months in a limited operations scenario or until it raises additional funding. The Company has depended upon loans from its president and shareholders for operating capital.  As of January 31, 2024, the Company had a working capital deficit of $145,593 and $0 cash, compared to a working capital deficit of $134,026 and cash of $0 as of October 31, 2023.

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Jan. 31, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our audited financial statements included in our Annual Report on Form 10-K for the year ended October 31, 2023.

In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair presentation of financial statements for the interim period, have been included.

Basic Earnings (loss) Per Share

ASC No. 260, “Earnings Per Share”, specifies the computation, presentation, and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.   Basic net earnings (loss) per share amounts is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding.  Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.

Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair Value of Financial Instruments

The carrying amount of cash, account payable, loans payable – related parties approximate their estimated fair value due to the short-term maturities of these financial instruments.

Income Taxes

Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income and research and development credits.

Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

ASC 740, clarifies the accounting for uncertainty in income taxes recognized in the financial statements. ASC 740 provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the position. Income tax positions must meet a more-likely-than-not recognition threshold to be recognized. ASC 740 also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. We have determined that the Company does not have uncertain tax positions on its tax returns for the years 2023 and prior. Based on evaluation of the 2022 transactions and events, the Company does not have any material uncertain tax positions that require measurement. Because the Company had a full valuation allowance on its deferred tax assets as of the years ended October 31, 2023 and 2022, the Company has not recognized any tax benefits since inception.

Our policy is to recognize interest and/or penalties related to income tax matters in income tax expense. We had no accrual for interest or penalties on our balance sheets at January 31, 2024 or 2023, and have not recognized interest and/or penalties in the statement of operations for the three months ended January 31, 2024 or 2023.

Revenue

The Company records revenue on an accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured.  The Company has not generated any revenue since its inception.

Advertising

The Company will expense its advertising when incurred. There has been no advertising since inception.

Stock-Based Compensation

The Company account for equity awards issued to employees and non-employees for services rendered in accordance with the provisions of ASC 718, “Compensation – Stock Compensation”.  These transactions are accounted for based on the grant date fair value of the equity award issued.  A resulting compensations expense is recorded over the requisite service period, which is typically the vesting period. 

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RECENT ACCOUNTING PRONOUCEMENTS

3 Months Ended

Jan. 31, 2024

RECENT ACCOUNTING PRONOUCEMENTS

RECENT ACCOUNTING PRONOUCEMENTS

NOTE 4.   RECENT ACCOUNTING PRONOUCEMENTS

The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and believes that none of them will have a material effect on the Company’s financial statements.

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RELATED PARTY TRANSACTIONS

3 Months Ended

Jan. 31, 2024

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 5.   RELATED PARTY TRANSACTIONS

As of January 31, 2024 and 2023, $6,744 was owed to Michael Noble, current president of the Company from funds loaned by him to the Company and is non-interest bearing with no specific repayment terms. 

As of January 31, 2024 and 2023, $130,033 and $104,519 was owed to shareholders of the Company from funds loaned by them to the Company and is non-interest bearing with no specific repayment terms.  The Company received proceeds of $113,108 and $5,101 during the three months ended January 31, 2024 and 2023, respectively, and made no repayments.

The sole officer and director of the Company may, in the future, become involved in other business opportunities as they become available, he may face a conflict in selecting between the Company and his other business opportunities.  The Company has not formulated a policy for the resolution on such conflicts.

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STOCKHOLDERS DEFICIT

3 Months Ended

Jan. 31, 2024

STOCKHOLDERS DEFICIT

STOCKHOLDERS' DEFICIT

NOTE 6.  STOCKHOLDERS’ DEFICIT

The stockholders’ deficit section of the Company contains the following classes of capital stock as of January 31, 2024 and 2023:

Common stock, $ 0.001 par value: 450,000,000 shares authorized; 120,000,000 shares issued and outstanding.

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SUBSEQUENT EVENTS

3 Months Ended

Jan. 31, 2024

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 7.  SUBSEQUENT EVENTS

The Company has evaluated events subsequent to the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that, other than the event noted above, no subsequent events occurred that require recognition or disclosure in the financial statements.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Jan. 31, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our audited financial statements included in our Annual Report on Form 10-K for the year ended October 31, 2023.

In the opinion of management, all adjustments, which are of a normal recurring nature, considered necessary for the fair presentation of financial statements for the interim period, have been included.

Basic Earnings (Loss) Per Share

ASC No. 260, “Earnings Per Share”, specifies the computation, presentation, and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.   Basic net earnings (loss) per share amounts is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding.  Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.

Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair Value of Financial Instruments

The carrying amount of cash, account payable, loans payable – related parties approximate their estimated fair value due to the short-term maturities of these financial instruments.

Income Taxes

Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred income taxes. Deferred income taxes are recognized for temporary differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future. Deferred income taxes are also recognized for net operating loss carryforwards that are available to offset future taxable income and research and development credits.

Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.

ASC 740, clarifies the accounting for uncertainty in income taxes recognized in the financial statements. ASC 740 provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits of the position. Income tax positions must meet a more-likely-than-not recognition threshold to be recognized. ASC 740 also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. We have determined that the Company does not have uncertain tax positions on its tax returns for the years 2023 and prior. Based on evaluation of the 2022 transactions and events, the Company does not have any material uncertain tax positions that require measurement. Because the Company had a full valuation allowance on its deferred tax assets as of the years ended October 31, 2023 and 2022, the Company has not recognized any tax benefits since inception.

Our policy is to recognize interest and/or penalties related to income tax matters in income tax expense. We had no accrual for interest or penalties on our balance sheets at January 31, 2024 or 2023, and have not recognized interest and/or penalties in the statement of operations for the three months ended January 31, 2024 or 2023.

Revenue

The Company records revenue on an accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured.  The Company has not generated any revenue since its inception.

Advertising

The Company will expense its advertising when incurred. There has been no advertising since inception.

Stock Based Compensation

The Company account for equity awards issued to employees and non-employees for services rendered in accordance with the provisions of ASC 718, “Compensation – Stock Compensation”.  These transactions are accounted for based on the grant date fair value of the equity award issued.  A resulting compensations expense is recorded over the requisite service period, which is typically the vesting period. 

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GOING CONCERN (Details Narrative) - USD ($)	Jan. 31, 2024	Oct. 31, 2023
GOING CONCERN
Working capital deficits	$ (145,593)	$ (134,026)
Cash	0	0
Accumulated Deficit	$ (205,593)	$ (194,026)

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RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Proceeds from Loan Payable - Shareholders	$ 13,108	$ 5,101
Loan Payable - Related Party	6,744	6,744
Shareholders [Member]
Proceeds from Loan Payable - Shareholders	113,108	5,101
Loan Payable - Shareholders	$ 130,033	$ 104,519

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STOCKHOLDERS EQUITY (Details Narrative) - $ / shares	Jan. 31, 2024	Oct. 31, 2023
STOCKHOLDERS EQUITY (Details Narrative)
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	120,000,000	120,000,000
Common stock, shares outstanding	120,000,000	120,000,000