CLANCY CORP.

CONSOLIDATED BALANCE SHEETS


	As of January 31, 2023 (Unaudited)			As of July 31, 2022
ASSETS

CURRENT ASSETS
Cash and equivalents	$	45,525		$	19,511
Prepaid expenses		1,230			212
Business advances		—			—

Total current assets		46,755			19,723

NONCURRENT ASSETS
Deposit - rent		14,200			14,236
Right of use asset, net		18,934			48,831

Total noncurrent assets		33,134			63,067

TOTAL ASSETS	$	79,889		$	82,790

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

CURRENT LIABILITIES

Accounts payable	$	17,579		$	18,377
Advance from related party		706,514			541,750
Operating lease liability		21,060			20,820

Total current liabilities		745,153			580,947

Operating lease liability, non-current		—			—

TOTAL LIABILITIES	$	745,153		$	580,947

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock, $0.001 par value; authorized 345,000,000 shares; 153,105,464 shares issued and outstanding at July 31, 2022 and January 31, 2023	$	153,105		$	153,105
Additional paid-in capital		213,251			213,251
Accumulated other comprehensive income		8,019			12,058
Accumulated deficit		(1,039,639	)		(876,571	)

TOTAL EQUITY (DEFICIT)	$	(665,264	)	$	(498,157	)

TOTAL LIABILITIES AND EQUITY (DEFICIT)	$	79,889		$	82,790

See accompanying notes to the consolidated financial statements.

F-1

CLANCY CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months and six months ended January 31, 2023 and 2022
(unaudited)


	THREE MONTHS ENDED JANUARY 31,						SIX MONTHS ENDED JANUARY 31,
	2023			2022			2023			2022
Revenues	$	—		$	—		$	—		$	—
Revenues - related party		—			—			—			—

Total Revenues		—			—			—			—

Cost of revenues		—			—			—			—

Gross loss		—			—			—			—

Operating expenses
Research and development expense-software		15,109			70,020			41,534			140,501
General and administrative		54,745			33,393			121,556			69,112

Total operating expenses		69,854			103,413			163,090			209,613

Loss from operations		(69,854	)		(103,413	)		(163,090	)		(209,613	)

Non-operating income
Interest income		9			42			22			47

Total non-operating loss, net		9			42			22			47

Loss before income tax		(69,845	)		(103,371	)		(163,068	)		(209,566	)

Income tax expense		—			—			—			—

Net loss		(69,845	)		(103,371	)		(163,068	)		(209,566	)

Other comprehensive item
Foreign currency translation loss		(27,194	)		(541	)		(4,039	)		(1,736	)

Comprehensive loss	$	(97,039	)	$	(103,912	)	$	(167,107	)	$	(211,302	)

Basic weighted average shares outstanding		153,105,464			153,105,464			153,105,464			153,105,464

Basic net loss per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)

See accompanying notes to the consolidated financial statements

F-2

CLANCY CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)


	SIX MONTHS ENDED JANUARY 31,
	2023			2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(163,068	)	$	(209,566	)
Lease expense		29,004			33,151
(Increase) decrease in assets and liabilities:
Accounts receivable		—			—
Prepaid expense		(1,018	)		400
Accounts payable		(725	)		(3,822	)
Advances from customers		—			—
Net cash used in operating activities		(135,807	)		(179,837	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from shares issued for equity financing		—			—
Changes in due to related party		161,314			154,628

Net cash provided by financing activities		161,314			154,628

EFFECT OF EXCHANGE RATE CHANGE ON CASH AND EQUIVALENTS		507			481

NET INCREASE IN CASH AND EQUIVALENTS		26,014			(24,728	)

CASH AND EQUIVALENTS, BEGINNING OF PERIOD		19,511			54,375

CASH AND EQUIVALENTS, END OF PERIOD	$	45,525		$	29,647

Supplemental cash flow data:
Income tax paid	$	—		$	—
Interest paid	$	—		$	—

Supplemental Disclosure of Non-cash lease activities:
Recognition of right of use asset	$	—		$	—
Recognition of lease liability	$	—		$	—

See accompanying notes to financial statements.

F-3

CLANCY CORP.
STATEMENT OF CHANGES IN SHAREHOLDERS’ DEFICIT

For the three months and six months ended January 31, 2023


							Accumulated
					Additional		Other
	Common Stock				Paid in		Comprehensive			Accumulated
	Shares		Amount		Capital		Loss			Deficit			Total
Balance July 31, 2022		153,105,464	$	153,105	$	213,251	$	12,058		$	(876,571	)	$	(498,157	)

Net Loss		—		—		—		—			(93,223	)		(93,223	)

Currency Translation Adjustment		—		—		—		23,155			—			23,155

Balance October 31, 2022		153,105,464		153,105		213,251		35,213			(969,794	)		(568,225	)

Net Loss		—		—		—		—			(69,845	)		(69,845	)

Currency translation		—		—		—		(27,194	)		—			27,194

Balance, January 31, 2023		153,105,464	$	153,105	$	213,251	$	8,019		$	(1,039,639	)	$	(665,264	)

For the six months ended January 31, 2022

							Accumulated
					Additional		Other
	Common Stock				Paid in		Comprehensive			Accumulated
	Shares		Amount		Capital		Loss			Deficit			Total
Balance July 31, 2021		153,105,464	$	153,105	$	213,251	$	(2,489	)	$	(495,920	)	$	(132,053	)

Net Loss		—		—		—		—			(106,195	)		(106,195	)

Currency Translation Adjustment		—		—		—		(1,195	)		—			(1,195	)

Balance October 31, 2021		153,105,464		153,105		213,251		(3,684	)		(602,115	)		(239,443	)

Net Loss		—		—		—		—			(103,371	)		(103,371	)

Currency translation		—		—		—		(541	)		—			(541	)

Balance, January 31, 2022		153,105,464	$	153,105	$	213,251	$	(4,225	)	$	(705,486	)	$	(343,355	)

For the six months ended January 31, 2022

See accompanying notes to the consolidated financial statements

F-4

CLANCY CORP.
NOTES TO THE FINANCIAL STATEMENTS

January 31, 2023 (Unaudited) and July 31, 2022

NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS

Clancy Corp. (“Company”) was incorporated on March 22, 2016 under the laws of the State of Nevada, USA.

On April 13, 2020, the Company registered Shanghai Clancy Enterprise Management Co., Ltd. (Shanghai Clancy) as a wholly foreign-owned entity and as a wholly owned subsidiary in Shanghai, China. Shanghai Clancy had no business activity from inception through January 31, 2023.

On April 24, 2020, Shanghai Clancy registered Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy) in Beijing as its wholly-owned subsidiary and a second tier subsidiary of the Company.

From August 1, 2020 to April 30, 2021, the Company business centered on providing IT services to a small number of clients. Beginning in May 2021, the Company terminated its IT services and re-focused its business operations to business consulting services to small and median sized businesses. Management believes their prior business experience will enable them to assist small and medium sized companies improve their operating efficiencies. The Company will charge its clients based on their performance. Management believes the new business model will reduce internal overhead costs and potentially provide a larger market for its services.

NOTE 2 – GOING CONCERN

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. For the three and six months ended January 31, 2023, the Company incurred loss, an accumulated deficit and experienced negative cash flow from operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Mr. Meng, the major stockholder, Chief Executive Officer and sole director of Company, verbally has agreed to provide continued financial support to the Company.

The Company’s business objective for the next twelve month and beyond such time will be to expand business operations and increase revenue. The Company will focus on product management, digital marketing, refined user operations, performance optimization, after-sales service, etc. to provide customers with more convenient and high- quality service experience.

The Covid-19 pandemic presents novel challenges and a chaotic business environment globally. The duration and intensity of the impact of the Covid-19 to business entities differ geographically. Covid-19 has a limited impact on the Company’s activities since Shanghai Clancy has no activities and Beijing Clancy operations are limited to Beijing, PRC. The impact on the Company’s result of operation and the financial statements was immaterial as of January 31, 2023.

F-5

NOTE 3 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Clancy Corp. and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.

Fiscal year end

The Company’s year-end is July 31.

Use of Estimates

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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

Cash and Cash Equivalents

Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of three months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values.

Concentration of Credit Risk

The Company is exposed to credit risk in the normal course of business, primarily related to cash and cash equivalents. A portion of the Company’s cash and cash equivalents are deposited with Industrial and Commercial Bank of China Limited and Pingan Bank in the PRC, which is not insured or otherwise protected. The Company had deposits of $33,423 as of January 31, 2023. The Company has not experienced any losses in such accounts in the PRC.

F-6

Leases

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the consolidated balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease and finance lease ROU assets and liabilities recognized at January 31, 2023 based on the present value of lease payments over the lease term discounted using the rate implicit in the lease. In cases where the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases.

Reporting Currency and Translation

The financial statements of the Company’s foreign subsidiaries are measured using the local currency, Renminbi (“RMB”), as the functional currency; whereas the functional currency of Clancy Corp. and reporting currency of the Company is the United States dollar (“USD” or “$”).

The Company has operations in China where the local currency of RMB is used to prepare the consolidated financial statements which are translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the operations outside the United States. Changes in the exchange rates between this currency and the Company’s reporting currency are partially responsible for some of the periodic changes in the consolidated financial statements. Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Company’s foreign operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in stockholders’ deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the six months period ended January 31, 2023 and 2022 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities.

The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows:

Schedule of exchange rates
	January 31, 2023		January 31, 2022
Period end USD: RMB exchange rate		6.7604		6.3746
Average USD: RMB exchange rate		7.0115		6.4191

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. In the three and six months ended January 31, 2023 and 2022, there were no potentially dilutive equity instruments issued or outstanding.

F-7

Financial Instrument

The carrying value of the Company’s short-term financial instruments, such as prepaid expenses, security deposit, accounts payable and advances, approximates their fair values because of their short maturities.

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718, “Compensation – Stock Compensation”, which requires that share-based payment transactions with employees be measured based on the grant-date fair value of the equity instrument issued and recognized as compensation expense over the requisite service period. To date, the Company has not adopted a stock option plan and has not granted any stock options.

Recently Adopted Accounting Pronouncements

As of January 31, 2023 and for the period then ended, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

As of January 31, 2023, there was no recently issued accounting standards adopted which would have a material effect on the Company’s consolidated financial statements.

NOTE 4 - OPERATING LEASE RIGHT-OF-USE ASSETS

As of January 31, 2023, the total operating lease Right of Use assets were $18,934. The total operating lease cost was $13,376 and $16,718, respectively, for the three-month period ended January 31, 2023 and 2022. The total operating lease cost was $26,753 and $33,360,397, respectively, for the six-month period ended January 31, 2023 and 2022.

NOTE 5 - LEASE LIABILITIES- OPERATING LEASE

Future minimum lease payments under the operating lease as of January 31, 2023 are:


12 months ended January 31, 2024	$	21,060
12 months ended January 31, 2025		—
Total Lease payments		21,060
Less Imputed Interest		—
Net Lease liability	$	21,060

F-8

NOTE 6 - RELATED PARTY TRANSACTIONS

The Company’s major shareholder has orally agreed to loan funds to the Company for its operations on an as needed basis. For the six months ended January 31, 2023 and 2022, the major shareholder loaned the Company $161,314 and 154,628, respectively.

As of January 31, 2023 and July 31, 2022, the balance owing the major shareholder was $706,514 and $541,750, respectively. The loan is interest free and unsecured and had no stated terms of repayment.

NOTE 7 - RESEARCH AND DEVELOPMENT EXPENSE

The Company incurred significant expenses in research and development (R&D). For the three months ended January 31, 2023 and 2022, the R&D expenses were $15,109 and $70,020, respectively. For the six months ended January 31, 2023 and 2022, the R&D expenses were $41,534 and $140,501, respectively.

NOTE 8 - INCOME TAXES

Income tax expense was $0 for the six and there months ended January 31, 2023 and 2022.

As of January 31, 2023, the Company had no unrecognized tax benefits and, accordingly, the Company did not recognize interest or penalties during the three and six months ended January 31, 2023 related to unrecognized tax benefits. There was no accrual for uncertain tax positions as of January 31, 2023.

There is no income tax benefit for the losses for the three and six months ended January 31, 2023 and 2022, since management has determined that the realization of the net tax deferred asset is not assured and has created a valuation allowance for the entire amount of such benefits.

NOTE 9 - SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date of filing the financial statements with the Securities and Exchange Commission, the date the financial statements were available to be issued. Management is not aware of any reportable events that occurred subsequent to the balance sheet date up to the date of filing this report.

F-9

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

Certain statements made in this quarterly report on Form 10-Q are “forward-looking statements” in regard to the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the registrant to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. The Company’s plans and objectives are based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance the forward-looking statements included in this quarterly report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the registrant or any other person that the objectives and plans of the registrant will be achieved.

Substantial risks exist with respect to an investment in the Company. These risks include but are not limited to, those factors discussed in our Annual Report on Form 10-K for the fiscal year ended July 31, 2022, filed with the Securities and Exchange Commission (“Commission”) on October 31, 2022. More broadly, these factors include, but are not limited to:

●

We have incurred significant losses and expect to incur future losses;

●

Our current financial condition and immediate need for capital;

●

Potential significant dilution resulting from the issuance of new securities for any funding, debt conversion or any business combination; and

●

We are a “penny stock” company.

Description of Business

Clancy Corp. (“the Company”) was incorporated on March 22, 2016 under the laws of the State of Nevada, USA. The Company initially was formed for the purpose of producing and selling handcrafted soaps.

On April 24, 2020, Shanghai Clancy registered Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy) in Beijing as its wholly-owned subsidiary and a second tier subsidiary of the Company.

From August 1, 2020 to April 30, 2021, the Company business centered on providing IT services to a small number of clients. In May 2021, the Company ceased its IT services and re-focused its operations to provide marketing services to small and median sized businesses. Clancy is now a product marketing consulting firm that provides product marketing consulting services to clients. The Company will develop marketing programs and strategies in line with customer needs. Our marketing programs will provide clients with detailed analysis on the market data in their industry, including historical data. We also will assist clients expand their marketing communication channels including but not limited to advertisements in the business journals, electronical communication tools such as WeChat marketing programs, etc. We charge an agreed upon fee based on technical difficulties and the marketing reach of the programs.

Results of Operations

While we commenced limited operations during the first fiscal quarter of last year, at the present time, the Company still is considered a shell company as defined in Rule 504 of the Act. One of our principal business objective for the next 12 months and beyond such time will be to achieve meaningful business operations. Alternatively, if we are unable to successfully develop our business, we may seek a combination with a business rather than immediate, short-term earnings. The Company will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

-3-

Comparison of Three and Six Month Periods ended January 31, 2023 and 2022

Revenues

For the three months and six months ended January 31, 2023 and 2022, the Company had no revenues.

Cost of Revenues

For both the three months and six months ended January 31, 2023 and 2022, the Company had no cost of goods sold as we did not have any revenues for the respective periods.

Operating Expenses

For the three months ended January 31, 2023, the Company had total operating expenses of $69,854, consisting of $15,109 in research and development (“R&D”) expense, $54,745 in general and administrative expenses. These amounts compare with total operating expenses of $103,412 consisting of $70,020 in R&D expense and $33,392 in general and administrative expense for the three months ended January 31, 2022. The decrease of $33,558 was due to the decrease in R&D expense.

For the six months ended January 31, 2023, the Company had total operating expenses of $163,090, consisting of $41,534 in R&D expense, $121,556 in general and administrative expenses. These amounts compare with total operating expenses of $209,613 consisting of $140,501 in R&D expense and $69,112 in general and administrative expense for the six months ended January 31, 2022. The decrease of $46,523 was due to the decrease in R&D expense.

Net Loss

For the six months ended 31, 2023 and 2022, the Company had a net loss of $163,068 and $209,566, respectively, for the reasons discussed above, mainly the decrease of the R&D expenses.

For the three months ended 31, 2023 and 2022, the Company had a net loss of $69,845 and $103,370, respectively, for the reasons discussed above, mainly the decrease of the R&D expenses.

Liquidity and Capital Resource

The Company had $45,525 and $19,511, respectively, in cash and cash equivalents as of January 31, 2023 and July 31, 2022.

As of January 31, 2023 and July 31, 2022, the Company had working capital deficit of $698,398 and $561,224, respectively. The increase in working capital deficit was due to increased operating expenses during the period.

The Company can provide no assurances that it can continue to satisfy its cash requirements for at least the next twelve months.

-4-

The following is a summary of the Company’s cash flows from operating and financing activities for the six months ended January 31, 2023 and 2022:

	Six Month Ended			Six Month Ended
	January 31, 2023			January 31, 2022
Net Cash Used in Operating Activities	$	(135,807	)	$	(179,837	)
Net Cash Provided by Financing Activities		161,314			154,628

Effects of Exchange rate Changes on Cash		507			481
Net Change in Cash	$	26,014		$	(24,728	)

Operating Activities

During the six months ended January 31, 2023, the Company had a net loss of $163,068 and after adjusting for lease expense, increased cash amortization of prepaid expenses and decreased payment on accounts payable, net cash used in operating activities of $135,807 was recorded. By comparison, during the six months period ended January 31, 2022, the Company incurred net cash used in operating activities of $179,837, which was mainly from net loss of $209,566 for the period.

Financing Activities

During the six months ended January 31, 2023, the Company had cash provided by financing activities of $161,314, which were loans from a related party (the Company’s sole officer and major shareholder). By comparison, during the nine months ended January 31, 2022, the Company had cash provided by financing activities of $154,628, which were loans from a related party (the Company’s sole officer and major shareholder).

Our financial statements reflect the fact that we do not have enough revenue to cover expenses. We are at present under-capitalized. The Company is dependent upon the receipt of capital investment or other financing to fund its ongoing operations and to execute its business plan of seeking a combination with a private operating company. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, the Company may not be able to implement its plan of operations.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Contractual Obligations

None except as disclosed in the notes to the financial statements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

In connection with the preparation of this quarterly report, an evaluation was carried out by the Company’s management, with the participation of the principal executive officer and the principal financial officer, of the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act (“Exchange Act”) as of January 31, 2023. Disclosure controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Commission’s rules and forms, and that such information is accumulated and communicated to management, including the principal executive officer and the principal financial officer, to allow timely decisions regarding required disclosures.

Based on that evaluation, the Company’s management concluded, as of the end of the period covered by this report, that the Company’s 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 Commission’s rules and forms, and that such information was not accumulated and communicated to management, including the principal executive officer and the principal financial officer, to allow timely decisions regarding required disclosures.

-5-

Management’s Report on Internal Control over Financial Reporting

Change in Internal Control over Financial Reporting

During the quarter ended January 31, 2023, there has been no changes in internal control over financial reporting that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

There are presently no material pending legal proceedings to which the Company, any executive officer, any owner of record or beneficially of more than five percent of any class of voting securities is a party or as to which any of its property is subject, and no such proceedings are known to the Company to be threatened or contemplated against it.

Item 1A. Risk Factors.

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

Item 2. Unregistered Sale of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not applicable to our Company.

Item 5. Other Information.

None

Item 6. Exhibits.

Exhibit		Description
31.1		Certification of the Company’s Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*

32.1		Certification of the Company’s Principal Executive Officer and Principal Financial pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002+

101.INS		XBRL INSTANCE DOCUMENT*

101.SCH		XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT*

101.CAL		XBRL TAXONOMY CALCULATION LINKBASE DOCUMENT*

101.DEF		XBRL TAXONOMY DEFINITION LINKBASE DOCUMENT*

101.LAB		XBRL TAXONOMY LABEL LINKBASE DOCUMENT*

101.PRE		XBRL TAXONOMY PRESENTATION LINKBASE DOCUMENT*

+ In accordance with SEC Release 33-8238, Exhibit 32.1 is being furnished and not filed.

*	Filed herewith.

-6-

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.

Date: March 16, 2022	CLANCY CORP.

	/s/ Xiangying Meng
	Xiangying Meng

-7-

EX-31.1 2 ccyc-20230131_10qex31z1.htm EX-31.1

Exhibit 31.1

Certification of the Company’s Principal Executive Officer and Principal Financial Officer

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

and Securities and Exchange Commission Release 34-46427

I, Xiangying Meng, certify that:

1.	I have reviewed this report on Form 10-Q of Clancy Corp.;

2.	Based on my knowledge, this quarterly 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 quarterly report;

3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods present in this quarterly report;

4.	As the registrant’s sole certifying officer, 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:

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;

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;

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

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 quarterly report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	As the registrant’s sole certifying officer, 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 the registrant’s board of directors (or persons performing the equivalent functions):

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

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 16, 2023

	/s/ Xiangying Meng
	Xiangying Meng Chief Executive Officer and Chief Financial Officer (Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer)

EX-32.1 3 ccyc-20230131_10qex32z1.htm EX-32.1

Exhibit 32.1

Certification of Principal Executive Officer and Principal 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 Clancy Corp. (the “Company”) on Form 10-Q for the period ended January 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Xiangying Meng, certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

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 results of operations of the Company.

Date: March 16, 2023

/s/ Xiangying Meng

Xiangying Meng

Chief Executive Officer and Chief Financial Officer
(Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer)

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rent Right of use asset, net Total noncurrent assets TOTAL ASSETS LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) CURRENT LIABILITIES Accounts payable Advance from related party Operating lease liability Total current liabilities Operating lease liability, non-current TOTAL LIABILITIES COMMITMENTS AND CONTINGENCIES STOCKHOLDERS’ EQUITY (DEFICIT) Common stock, $0.001 par value; authorized 345,000,000 shares; 153,105,464 shares issued and outstanding at July 31, 2022 and January 31, 2023 Additional paid-in capital Accumulated other comprehensive income Accumulated deficit TOTAL EQUITY (DEFICIT) TOTAL LIABILITIES AND EQUITY (DEFICIT) Common Stock, Par Value Common Stock, Shares Authorized Common Stock, Shares Issued Common Stock, Shares Outstanding Income Statement [Abstract] Revenues Revenues - related party Total Revenues Cost of revenues Gross loss Operating expenses Research and development expense-software General and administrative Total operating expenses Loss from operations Non-operating income Interest income Total non-operating loss, net Loss before income tax Income tax expense Net loss Other comprehensive item Foreign currency translation loss Comprehensive loss Basic weighted average shares outstanding Basic net loss per share Statement of Cash Flows [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES: Net loss Lease expense (Increase) decrease in assets and liabilities: Accounts receivable Prepaid expense Accounts payable Advances from customers Net cash used in operating activities CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from shares issued for equity financing Changes in due to related party Net cash provided by financing activities EFFECT OF EXCHANGE RATE CHANGE ON CASH AND EQUIVALENTS NET INCREASE IN CASH AND EQUIVALENTS CASH AND EQUIVALENTS, BEGINNING OF PERIOD CASH AND EQUIVALENTS, END OF PERIOD Supplemental cash flow data: Income tax paid Interest paid Supplemental Disclosure of Non-cash lease activities: Recognition of right of use asset Recognition of lease liability Statement [Table] Statement [Line Items] Beginning balance, value Beginning balance, shares Net Loss Currency Translation Adjustment Currency translation Ending balance, value Ending balance, shares Organization, Consolidation and Presentation of Financial Statements [Abstract] ORGANIZATION AND NATURE OF BUSINESS GOING CONCERN Accounting Policies [Abstract] BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Operating Lease Right-of-use Assets OPERATING LEASE RIGHT-OF-USE ASSETS Lease Liabilities- Operating Lease LEASE LIABILITIES- OPERATING LEASE Related Party Transactions [Abstract] RELATED PARTY TRANSACTIONS Research And Development Expense RESEARCH AND DEVELOPMENT EXPENSE Income Tax Disclosure [Abstract] INCOME TAXES Subsequent Events [Abstract] SUBSEQUENT EVENTS Basis of Presentation Fiscal year end Use of Estimates Income Taxes Revenue Recognition Cash and Cash Equivalents Concentration of Credit Risk Leases Reporting Currency and Translation Basic Income (Loss) Per Share Financial Instrument Stock-Based Compensation Recently Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted Schedule of exchange rates Schedule of future minimum lease payment Schedule of Intercompany Foreign Currency Balance [Table] Intercompany Foreign Currency Balance [Line Items] Average USD: RMB exchange rate Bank Deposits Potentially dilutive shares Operating lease right of use assets Operating lease cost EX-101.PRE 8 ccyc-20230131_pre.xml XBRL PRESENTATION FILE XML 9 R1.htm IDEA: XBRL DOCUMENT

Cover - shares	6 Months Ended
Cover - shares	Jan. 31, 2023	Mar. 14, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jan. 31, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--07-31
Entity File Number	333-213698
Entity Registrant Name	CLANCY CORP.
Entity Central Index Key	0001681769
Entity Tax Identification Number	30-0944559
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	2nd Floor, BYD
Entity Address, Address Line Two	No. 56, Dongsihuan South Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100023
Country Region	+86
City Area Code	189
Local Phone Number	1098-4577
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		153,105,464

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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jan. 31, 2023	Jul. 31, 2022
CURRENT ASSETS
Cash and equivalents	$ 45,525	$ 19,511
Prepaid expenses	1,230	212
Business advances
Total current assets	46,755	19,723
NONCURRENT ASSETS
Deposit - rent	14,200	14,236
Right of use asset, net	18,934	48,831
Total noncurrent assets	33,134	63,067
TOTAL ASSETS	79,889	82,790
CURRENT LIABILITIES
Accounts payable	17,579	18,377
Advance from related party	706,514	541,750
Operating lease liability	21,060	20,820
Total current liabilities	745,153	580,947
Operating lease liability, non-current
TOTAL LIABILITIES	745,153	580,947
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock, $0.001 par value; authorized 345,000,000 shares; 153,105,464 shares issued and outstanding at July 31, 2022 and January 31, 2023	153,105	153,105
Additional paid-in capital	213,251	213,251
Accumulated other comprehensive income	8,019	12,058
Accumulated deficit	(1,039,639)	(876,571)
TOTAL EQUITY (DEFICIT)	(665,264)	(498,157)
TOTAL LIABILITIES AND EQUITY (DEFICIT)	$ 79,889	$ 82,790

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CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jan. 31, 2023	Jul. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	345,000,000	345,000,000
Common Stock, Shares Issued	153,105,464	153,105,464
Common Stock, Shares Outstanding	153,105,464	153,105,464

XML 12 R4.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Income Statement [Abstract]
Revenues
Revenues - related party
Total Revenues
Cost of revenues
Gross loss
Operating expenses
Research and development expense-software	15,109	70,020	41,534	140,501
General and administrative	54,745	33,393	121,556	69,112
Total operating expenses	69,854	103,413	163,090	209,613
Loss from operations	(69,854)	(103,413)	(163,090)	(209,613)
Non-operating income
Interest income	9	42	22	47
Total non-operating loss, net	9	42	22	47
Loss before income tax	(69,845)	(103,371)	(163,068)	(209,566)
Income tax expense	0	0	0	0
Net loss	(69,845)	(103,371)	(163,068)	(209,566)
Other comprehensive item
Foreign currency translation loss	(27,194)	(541)	(4,039)	(1,736)
Comprehensive loss	$ (97,039)	$ (103,912)	$ (167,107)	$ (211,302)
Basic weighted average shares outstanding	153,105,464	153,105,464	153,105,464	153,105,464
Basic net loss per share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (163,068)	$ (209,566)
Lease expense	29,004	33,151
(Increase) decrease in assets and liabilities:
Accounts receivable
Prepaid expense	(1,018)	400
Accounts payable	(725)	(3,822)
Advances from customers
Net cash used in operating activities	(135,807)	(179,837)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from shares issued for equity financing
Changes in due to related party	161,314	154,628
Net cash provided by financing activities	161,314	154,628
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND EQUIVALENTS	507	481
NET INCREASE IN CASH AND EQUIVALENTS	26,014	(24,728)
CASH AND EQUIVALENTS, BEGINNING OF PERIOD	19,511	54,375
CASH AND EQUIVALENTS, END OF PERIOD	45,525	29,647
Supplemental cash flow data:
Income tax paid
Interest paid
Supplemental Disclosure of Non-cash lease activities:
Recognition of right of use asset
Recognition of lease liability

XML 14 R6.htm IDEA: XBRL DOCUMENT

STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jul. 31, 2021	$ 153,105	$ 213,251	$ (2,489)	$ (495,920)	$ (132,053)
Beginning balance, shares at Jul. 31, 2021	153,105,464
Net Loss				(106,195)	(106,195)
Currency Translation Adjustment			(1,195)		(1,195)
Ending balance, value at Oct. 31, 2021	$ 153,105	213,251	(3,684)	(602,115)	(239,443)
Ending balance, shares at Oct. 31, 2021	153,105,464
Net Loss				(103,371)	(103,371)
Currency translation			(541)		(541)
Ending balance, value at Jan. 31, 2022	$ 153,105	213,251	(4,225)	(705,486)	(343,355)
Ending balance, shares at Jan. 31, 2022	153,105,464
Beginning balance, value at Jul. 31, 2022	$ 153,105	213,251	12,058	(876,571)	(498,157)
Beginning balance, shares at Jul. 31, 2022	153,105,464
Net Loss				(93,223)	(93,223)
Currency Translation Adjustment			23,155		23,155
Ending balance, value at Oct. 31, 2022	$ 153,105	213,251	35,213	(969,794)	(568,225)
Ending balance, shares at Oct. 31, 2022	153,105,464
Net Loss				(69,845)	(69,845)
Currency translation			(27,194)		27,194
Ending balance, value at Jan. 31, 2023	$ 153,105	$ 213,251	$ 8,019	$ (1,039,639)	$ (665,264)
Ending balance, shares at Jan. 31, 2023	153,105,464

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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Organization, Consolidation and Presentation of Financial Statements [Abstract]

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ORGANIZATION AND NATURE OF BUSINESS

6 Months Ended

Jan. 31, 2023

ORGANIZATION AND NATURE OF BUSINESS

NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS

Clancy Corp. (“Company”) was incorporated on March 22, 2016 under the laws of the State of Nevada, USA.

On April 24, 2020, Shanghai Clancy registered Beijing Clancy Information Technology Co., Ltd. (Beijing Clancy) in Beijing as its wholly-owned subsidiary and a second tier subsidiary of the Company.

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GOING CONCERN

6 Months Ended

Jan. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GOING CONCERN

NOTE 2 – GOING CONCERN

Mr. Meng, the major stockholder, Chief Executive Officer and sole director of Company, verbally has agreed to provide continued financial support to the Company.

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jan. 31, 2023

Accounting Policies [Abstract]

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Fiscal year end

The Company’s year-end is July 31.

Use of Estimates

Income Taxes

Revenue Recognition

Cash and Cash Equivalents

Concentration of Credit Risk

Leases

The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases.

Reporting Currency and Translation

The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows:

Schedule of exchange rates
	January 31, 2023		January 31, 2022
Period end USD: RMB exchange rate		6.7604		6.3746
Average USD: RMB exchange rate		7.0115		6.4191

Basic Income (Loss) Per Share

Financial Instrument

Stock-Based Compensation

Recently Adopted Accounting Pronouncements

As of January 31, 2023 and for the period then ended, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

As of January 31, 2023, there was no recently issued accounting standards adopted which would have a material effect on the Company’s consolidated financial statements.

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OPERATING LEASE RIGHT-OF-USE ASSETS

6 Months Ended

Jan. 31, 2023

Operating Lease Right-of-use Assets

OPERATING LEASE RIGHT-OF-USE ASSETS

NOTE 4 - OPERATING LEASE RIGHT-OF-USE ASSETS

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LEASE LIABILITIES- OPERATING LEASE

6 Months Ended

Jan. 31, 2023

Lease Liabilities- Operating Lease

LEASE LIABILITIES- OPERATING LEASE

NOTE 5 - LEASE LIABILITIES- OPERATING LEASE

Future minimum lease payments under the operating lease as of January 31, 2023 are:


12 months ended January 31, 2024	$	21,060
12 months ended January 31, 2025		—
Total Lease payments		21,060
Less Imputed Interest		—
Net Lease liability	$	21,060

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RELATED PARTY TRANSACTIONS

6 Months Ended

Jan. 31, 2023

RELATED PARTY TRANSACTIONS

NOTE 6 - RELATED PARTY TRANSACTIONS

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RESEARCH AND DEVELOPMENT EXPENSE

6 Months Ended

Jan. 31, 2023

Research And Development Expense

RESEARCH AND DEVELOPMENT EXPENSE

NOTE 7 - RESEARCH AND DEVELOPMENT EXPENSE

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INCOME TAXES

6 Months Ended

Jan. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 8 - INCOME TAXES

Income tax expense was $0 for the six and there months ended January 31, 2023 and 2022.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Cash and Cash Equivalents

XML 23 R15.htm IDEA: XBRL DOCUMENT

SUBSEQUENT EVENTS

6 Months Ended

Jan. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 9 - SUBSEQUENT EVENTS

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jan. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

Fiscal year end

The Company’s year-end is July 31.

Use of Estimates

Income Taxes

Revenue Recognition

Concentration of Credit Risk

Leases

The Company has elected not to recognize operating lease ROU assets and liabilities arising from short-term leases.

Reporting Currency and Translation

The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the consolidated financial statements were as follows:

Schedule of exchange rates
	January 31, 2023		January 31, 2022
Period end USD: RMB exchange rate		6.7604		6.3746
Average USD: RMB exchange rate		7.0115		6.4191

Basic Income (Loss) Per Share

Financial Instrument

Stock-Based Compensation

Recently Adopted Accounting Pronouncements

As of January 31, 2023 and for the period then ended, there were no recently adopted accounting standards that had a material effect on the Company’s financial statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

As of January 31, 2023, there was no recently issued accounting standards adopted which would have a material effect on the Company’s consolidated financial statements.

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jan. 31, 2023

Accounting Policies [Abstract]

Schedule of exchange rates

Schedule of exchange rates
	January 31, 2023		January 31, 2022
Period end USD: RMB exchange rate		6.7604		6.3746
Average USD: RMB exchange rate		7.0115		6.4191

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LEASE LIABILITIES- OPERATING LEASE (Tables)

6 Months Ended

Jan. 31, 2023

Lease Liabilities- Operating Lease

Schedule of future minimum lease payment


12 months ended January 31, 2024	$	21,060
12 months ended January 31, 2025		—
Total Lease payments		21,060
Less Imputed Interest		—
Net Lease liability	$	21,060

XML 27 R19.htm IDEA: XBRL DOCUMENT

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jan. 31, 2023	Jan. 31, 2022
Period End R M B U S D Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Average USD: RMB exchange rate	6.7604	6.3746
Period Average R M B U S D Exchange Rate [Member]
Intercompany Foreign Currency Balance [Line Items]
Average USD: RMB exchange rate	7.0115	6.4191

XML 28 R20.htm IDEA: XBRL DOCUMENT

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Accounting Policies [Abstract]
Bank Deposits	$ 33,423		$ 33,423
Potentially dilutive shares	0	0	0	0

XML 29 R21.htm IDEA: XBRL DOCUMENT

OPERATING LEASE RIGHT-OF-USE ASSETS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022	Jul. 31, 2022
Operating Lease Right-of-use Assets
Operating lease right of use assets	$ 18,934		$ 18,934		$ 48,831
Operating lease cost	$ 13,376	$ 16,718	$ 26,753	$ 33,360,397

XML 30 R22.htm IDEA: XBRL DOCUMENT

LEASE LIABILITIES- OPERATING LEASE (Details)	Jan. 31, 2023 USD ($)
Lease Liabilities- Operating Lease
12 months ended January 31, 2024	$ 21,060
12 months ended January 31, 2025
Total Lease payments	21,060
Less Imputed Interest
Net Lease liability	$ 21,060

XML 31 R23.htm IDEA: XBRL DOCUMENT

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jul. 31, 2022
Related Party Transactions [Abstract]
Proceeds from related party debt	$ 161,314	$ 154,628
Advance from related party	$ 706,514		$ 541,750

Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

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RESEARCH AND DEVELOPMENT EXPENSE (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Research And Development Expense
Research and development expense	$ 15,109	$ 70,020	$ 41,534	$ 140,501

XML 33 R25.htm IDEA: XBRL DOCUMENT

INCOME TAXES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
INCOME TAXES (Details Narrative) - USD ($)	Jan. 31, 2023	Jan. 31, 2022	Jan. 31, 2023	Jan. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense	$ (0)	$ (0)	$ (0)	$ (0)
Unrecognized tax benefits	0		0
Unrecognized tax benefits interest or penalties	0		0
Uncertain tax positions	$ 0		$ 0