10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For The Quarterly Period Ended January 31, 2021

or

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission File Number 333-228847

MU GLOBAL HOLDING LIMITED

(Exact name of registrant issuer as specified in its charter)

Nevada	30-1089215
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

4F-1., No. 106, Chang’an W. Rd., Datong Dist.,

Taipei City, 103 Taiwan (R.O.C.)

(Address of principal executive offices, including zip code)

Registrant’s phone number, including area code +886905153139

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 past 90 days.

YES [X] NO [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding twelve months (or shorter period that the registrant was required to submit and post such files).

YES [  ] NO [X]

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

Large Accelerated Filer [  ] Accelerated Filer [  ] Non-accelerated Filer [  ] Smaller reporting company [X] Emerging growth company [X]

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 [X]

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	MUGH	The OTC Market – Pink Sheets

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has fled all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Yes [  ] No [X]

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class	Outstanding at March 15, 2021
Common Stock, $.0001 par value	59,434,838

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION
ITEM 1.	UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS:	F-1
	Condensed Consolidated Balance Sheets as of January 31, 2021 (unaudited) and July 31, 2020 (audited)	F-2
	Condensed Consolidated Statements of Operations and Comprehensive Losses for the Three and Six Months Ended January 31, 2021 (unaudited) and January 31, 2020 (unaudited)	F-3
	Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Six Months Ended January 31, 2021 (unaudited) and 2020 (unaudited)	F-4
	Condensed Consolidated Statements of Cash Flows for the Six Months Ended January 31, 2021(unaudited) and January 31, 2020 (unaudited)	F-5
	Notes to the Condensed Consolidated Financial Statements	F-6 - F-17
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	3-6
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	7
ITEM 4.	CONTROLS AND PROCEDURES	7
PART II	OTHER INFORMATION
ITEM 1	LEGAL PROCEEDINGS	8
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	8
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	8
ITEM 4	MINE SAFETY DISCLOSURES	8
ITEM 5	OTHER INFORMATION	8
ITEM 6	EXHIBITS	9
	SIGNATURES	10

2

PART I FINANCIAL INFORMATION

ITEM 1. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS:

MU GLOBAL HOLDING LIMITED

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	Page
Condensed Consolidated Financial Statements
Condensed Consolidated Balance Sheets as of January 31, 2021 (unaudited) and July 31, 2020 (audited)	F-2
Condensed Consolidated Statements of Operations and Comprehensive Losses for the Three and Six Months Ended January 31, 2021 (unaudited) and January 31, 2020 (unaudited)	F-3
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Six Months Ended January 31, 2021 (unaudited) and 2020 (unaudited)	F-4
Condensed Consolidated Statements of Cash Flows for the Six Months Ended January 31, 2021 (unaudited) and January 31, 2020 (unaudited)	F-5
Notes to the Condensed Consolidated Financial Statements	F-6 - F-17

F-1

MU GLOBAL HOLDING LIMITED

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF JANUARY 31, 2021 AND JULY 31, 2020

(Currency expressed in United States Dollars (“US$”), except for number of shares)

	As of			As of
	January 31, 2021			July 31, 2020
	Unaudited			Audited
ASSETS
NON CURRENT ASSETS
Property, plant and equipment	$	291,906		$	429,261
Leased asset- Right of use		18,068			198,514
		309,974			627,775
INTANGIBLE ASSET
Trademark	$	24,500		$	25,779
		334,474			653,554
CURRENT ASSETS
Cash and cash equivalents	$	43,603		$	11,670
Other receivables		-			193
Prepayments and deposits		99,408			113,463
Amount due from related parties		16,530			12,920
Inventories		46,678			51,798
Total Current Assets	$	206,219		$	190,044
TOTAL ASSETS		540,693			843,598
LIABILITIES AND STOCKHOLDERS’ EQUITY
NON-CURRENT LIABILITIES
Leased liabilities	$	7,904		$	148,431
Total Non-Current Liabilities		7,904			148,431
CURRENT LIABILITIES
Loan from director	$	275,395		$	176,097
Leased liabilities		10,164			58,796
Loan from related party		52,913			48,739
Other payables and accrued liabilities		114,929			57,643
Amount due to related parties		42,412			85,142
Deposit from franchisee		39,332			42,624
Deposit from customers		45,306			38,148
Total Current Liabilities	$	580,451		$	507,189
TOTAL LIABILITIES	$	588,355		$	655,620
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding		-			-
Common Shares, par value $0.0001; 600,000,000 shares authorized, 59,434,838 shares issued and outstanding as of January 31, 2021 and July 31, 2020	$	5,943		$	5,943
Additional paid in capital		1,830,300			1,830,300
Foreign currency adjustment		(1,234	)		(3,361	)
Accumulated deficit		(1,882,671	)		(1,644,904	)
TOTAL STOCKHOLDERS’ EQUITY	$	(47,662	)	$	187,978
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	540,693		$	843,598

See accompanying notes to condensed consolidated financial statements.

F-2

MU GLOBAL HOLDING LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSSES

FOR THE THREE AND SIX MONTHS ENDED JANUARY 31, 2021 and 2020

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(Unaudited)

	Three Months Ended January 31,						Six Months Ended January 31,
	2021			2020			2021			2020
REVENUE	$	19,381		$	65,141		$	41,076		$	92,311
COST OF REVENUE		(7,845	)		(5,296	)		(9,556	)		(7,365	)
GROSS PROFIT	$	11,536		$	59,845		$	31,520		$	84,946
OTHER INCOME		20,321			1,551			24,987			5,272
SELLING AND MARKETING EXPENSES		-			(14,615	)		-			(17,722	)
GENERAL AND ADMINISTRATIVE EXPENSES		(173,023	)		(166,542	)		(294,274	)		(384,593	)
LOSS BEFORE INCOME TAX	$	(141,166	)	$	(119,761	)	$	(237,767	)	$	(312,097	)
INCOME TAX PROVISION		-			-			-			-
NET LOSS	$	(141,166	)	$	(119,761	)	$	(237,767	)	$	(312,097	)
Other comprehensive income/(expense):
- Foreign currency translation gain/(loss)		(750	)		3,789			2,127			(8,149	)
TOTAL COMPREHENSIVE LOSS	$	(141,916	)	$	(115,972	)	$	(235,640	)		(320,246	)
Net loss per share- Basic and diluted		(0.0023	)		(0.0019	)		(0.0040	)		(0.0054	)
Weighted average number of common shares outstanding - Basic and diluted		59,434,838			59,434,838			59,434,838			59,434,838

See accompanying notes to condensed consolidated financial statements.

F-3

MU GLOBAL HOLDING LIMITED.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

FOR THE SIX MONTHS ENDED JANUARY 31, 2021 AND 2020

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(Unaudited)

Six Months Ended 31 January 2021 (Unaudited)
	COMMON SHARES				ADDITIONAL		ACCUMULATED OTHER
	Number of Shares		Amount		PAID-IN CAPITAL		COMPREHENSIVE INCOME			ACCUMULATED DEFICIT			TOTAL EQUITY
Balance as of August 1, 2020		59,434,838	$	5,943	$	1,830,300	$	(3,361	)	$	(1,644,904	)	$	187,978
Net loss for the period		-		-		-		-		$	(96,601	)		(96,601	)
Foreign currency translation adjustment		-				-		2,877			-			2,877
Balance as of October 31, 2020		59,434,838	$	5,943		1,830,300		(484	)		(1,741,505	)		94,254
Net loss for the period		-		-		-		-			(141,166	)	$	(141,166	)
Foreign currency translation adjustment		-	$	-	$	-	$	(750	)	$	-		$	(750	)
Balance as of January 31, 2021		59,434,838	$	5,943	$	1,830,300	$	(1,234	)	$	(1,882,671	)	$	(47,662	)

Six Months Ended January 31, 2020 (Unaudited)
	Common Stock				Additional		Accumulated Other						Total
	Number of shares		Amount		Paid-in Capital		Comprehensive Loss			Accumulated Deficit			Stockholders’ Equity
Balance as of August 1, 2019		59,434,838	$	5,943	$	1,830,300	$	8,727		$	(975,996	)	$	868,974
Net loss for the period		-		-		-					(192,336	)		(192,336	)
Foreign currency translation adjustment		-		-		-		(11,938	)		-			(11,938	)
Balance as of October 31, 2019		59,434,838		5,943		1,830,300		(3,211	)		(1,168,332	)		664,700
Net loss for the period		-		-		-		-			(119,761	)		(119,761	)
Foreign currency translation adjustment		-		-		-		3,789			-			3,789
Balance as of January 31, 2020 (Unaudited)		59,434,838	$	5,943	$	1,830,300	$	578		$	(1,288,093	)	$	548,728

See accompanying notes to condensed consolidated financial statements.

F-4

MU GLOBAL HOLDING LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021 and 2020

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(Unaudited)

	Six Months Ended January 31
	2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(237,767	)	$	(312,097	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		102,807			82,928
Asset Write-off		73,053			4,264
Reversal on Termination of Leased Asset		(6,384	)		-
Gain on Disposal		(6,489	)		-
Changes in operating assets and liabilities:
Other receivables		194			(4,688	)
Deposit & Prepayment		19,047			32,222
Other payables and accrued liabilities		(13,126	)		(51,199	)
Inventory		9,556			(5,340	)
Amount due to related party		-			(5,326	)
Amount due from related party		(3,610	)		(17,922	)
Leased liabilities		(20,847	)		(13,565	)
Deposit from customer		151			14,415
Deposit from franchisee		(2,096	)		6,342
Net cash used in operating activities	$	(85,511	)	$	(269,966	)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of trademark	$	-		$	(26,394	)
Purchase of property, plant and equipment		-			(178,406	)
Proceed on disposal		12,110			-
Net cash used in investing activities	$	12,110		$	(204,800	)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan from director	$	88,492			115,324
Loam from related party		21,025			43,246
Subscription receivables		-			-
Net cash provided by financing activities	$	109,517		$	158,570
Effect of exchange rate changes on cash and cash equivalents		(4,183	)		(3,647	)
Net change in cash and cash equivalents		31,933			(319,843	)
Cash and cash equivalents, beginning of period		11,670			394,403
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	43,603		$	74,560
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid	$	-		$	-
Interest paid	$	-		$	-

See accompanying notes to condensed consolidated financial statements.

F-5

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

1. DESCRIPTION OF BUSINESS AND ORGANIZATION

MU Global Holding Limited is organized as a Nevada limited liability company, incorporated on June 4, 2018. For purposes of consolidated financial statement presentation, MU Global Holding Limited and its subsidiary are herein referred to as “the Company” or “we”. The Company business of which planned principal operations are to provide wellness and beauty services to customers via Company owned outlets, franchised outlets or distribution of our product to third party wellness and beauty salon.

On June 29, 2018, the Company acquired 100% interest in MU Worldwide Group Limited, a private limited liability company incorporated in Seychelles and its subsidiary MU Global Holding Limited, a private limited liability company incorporated in Hong Kong. On August 16, 2018, the Hong Kong Company incorporated MU Global Health Management (Shanghai) Limited, a wholly owned subsidiary of which incorporated in Shanghai, People Republic of China.

Details of the Company’s subsidiary:

	Company name	Place and date of incorporation	Particulars of issued capital	Principal activities
1.	MU Worldwide Group Limited	Seychelles, June 7, 2018	100 share of ordinary share of US$1 each	Investment holding
2.	MU Global Holding Limited	Hong Kong, January 30, 2018	1 ordinary share of HKD$1	Providing SPA and Wellness service in Hong Kong
3.	MU Global Health Management	Shanghai, August 16, 2018	RMB 7,400,300	Providing SPA and Wellness service in China

F-6

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).

The Company has adopted its fiscal year-end to be July 31.

Basis of consolidation

The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation.

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Revenue recognition

In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition”, the Company recognizes revenue from sales of goods when the following four revenue criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) selling price is fixed or determinable; and (4) collectability is reasonably assured.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue. The Company derives its revenue from provision of wellness and beauty services to customers via Company owned outlets, franchised outlets or distribution of our product to third party wellness and beauty salon.

Cost of revenue

Cost of revenue includes the cost of services and product incurred to provide wellness and beauty services and purchase of products.

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

Property, Plant and equipment

Property, Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Categories	Estimated useful life
Leasable equipment	5 years
Computer hardware and software	3 years
Office equipment	3 years

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations.

F-7

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

Leases

Prior to November 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective November 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The implementation of ASC 842 did not have a material impact on the Company’s consolidated financial statements and did not have a significant impact on our liquidity. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. (see Note 4 ).

Inventories

Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Condensed Consolidated Statements of Operations and Comprehensive Income.

Income taxes

Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

The Company conducts major businesses in China and is subject to tax in this jurisdiction. As a result of its business activities, the Company will file tax returns that are subject to examination by the foreign tax authority.

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the period ended January 31, 2021, the Company incurred a net loss of $237,767 and has generated revenue of $41,076. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

F-8

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

Net loss per share

The Company calculates net loss per share in accordance with ASC Topic 260 “Earnings per share”. Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income.

The reporting currency of the Company and its subsidiary is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$.

In general, for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity.

Translation of amounts from RMB and HK$ into US$1 has been made at the following exchange rates for the respective periods:

	As of and for the six months ended January 31
	2021		2020
Period-end RMB : US$1 exchange rate		6.4256		6.937
Period-average RMB : US$1 exchange rate		6.6675		7.037
Period-end HKD$ : US$1 exchange rate		7.7532		7.766
Period-average HKD$ : US$1 exchange rate		7.7517		7.821

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

F-9

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: cash and cash equivalents, account receivables, amount due to a director, and accounts payable and approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent accounting pronouncements

ASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

F-10

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

3. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment as of January 31, 2021 and July 31, 2020 are summarized below:

	As of January 31, 2021 (Unaudited)			As of July 31, 2020 (Audited)
Leasehold improvement	$	-		$	148,982
Computer hardware and software		129,301			129,301
Outlet equipment		100,686			100,686
Leasable equipment		216,382			223,560
Application development		37,413			37,413
Outlet Design Fee and Equipment1		16,963			16,763
Total		500,745			656,705
Accumulated depreciation	$	(238,548	)	$	(220,001	)
Foreign currency translation adjustment		29,709			(7,443	)
Property, plant and equipment, net	$	291,906		$	429,261

¹Outlet design fee is fee incurred for the outlet design concept to be follow by all the outlets or shops under the Company so to be a signage outlets of the company. As of January 31, 2021, the outlet design has not yet completed, therefore no depreciation has been provided.

²App development fee is fee incurred for the design and development of the mobile App for the Company. As of January 31, 2021, the app development has not yet completed, therefore no depreciation has been provided.

³ During the period ended January 31, 2021, 5 units of leasable equipment amounted to $7,178 disposed at a net asset value of $5,622 and generate a gain on disposal of $6,489.

⁴ Depreciation expense for the six month period ended January 31, 2021 and January 31, 2020 was 84,037 and 80,196 respectively

WRITE OFF OF PROPERTY AND EQUIPMENT

	January 31, 2021			July 31, 2020
Write off of property and equipment	$	148,982		$	-
Accumulated depreciation		(80,677	)		-
Total Write off of property and equipment	$	68,305		$	-

4. LEASE

The Company officially adopted ASC 842 for the period on and after November 1, 2019 as permitted by ASU 2016-02. ASC 842 originally required all entities to use a “modified retrospective” transition approach that is intended to maximize comparability and be less complex than a full retrospective approach. On July 30, 2018, the FASB issued ASU 2018-11 to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02 of which permits entities may elect not to recast the comparative periods presented when transitioning to ASC 842. As permitted by ASU 2018-11, the Company elect not to recast comparative periods, thusly.

As of November 1, 2020, the Company recognized approximately US$19,724, lease liability as well as right-of-use asset for all leases (with the exception of short-term leases) at the commencement date. Lease liabilities are measured at present value of the sum of remaining rental payments as of November 1, 2020, with discounted rate of 4.15% adopted from People’s Bank of China as a reference for discount rate.

A single lease cost is recognized over the lease term on a generally straight-line basis. All cash payments of operating lease cost are classified within operating activities in the statement of cash flows.

The initial recognition of operating lease right and lease liability as follow:

Gross lease payable	$	21,370
Less: imputed interest		(826	)
Initial recognition as of November 1, 2020	$	20,544

As of January 31, 2021 operating lease right of use asset as follow:

Initial recognition as of November 1, 2020	$	20,544
Accumulated amortization		(2,476	)
Balance as of January 31, 2021	$	18,068

F-11

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

As of January 31, 2021, operating lease liability as follow:

Initial recognition as of November 1, 2020	$	20,544
Less: gross repayment		(2,671	)
Add: imputed interest		195
Balance as of January 31, 2021	$	18,068
Less: lease liability current portion		(10,164	)
Lease liability non-current portion	$	7,904

For the six months ended January 31, 2021, the amortization of the operating lease right of use asset are $17,359.

Maturities of operating lease obligation as follow:

Year ending
July 31, 2021 (6 months)	$	5,029
July 31, 2022 (12 months)		10,377
October 31, 2022 (3 months)		2,662
Total	$	18,068

Other information:

	Six months ended January 31,
	2021			2020
	(unaudited)			(unaudited)
Cash paid for amounts included in the measurement of lease liabilities:		-			-
Operating cash flow from operating lease	$	20,847		$	13,565
Right-of-use assets obtained in exchange for operating lease liabilities		18,068			235,635
Remaining lease term for operating lease (years)		1.75			3.75
Weighted average discount rate for operating lease		4.15	%		4.15	%

Lease expenses were $2,476 and $19,421 during the three and six months ended January 31, 2021, respectively. The Company adopt ASC 842 on and after November 1, 2019

5. TRADEMARK

	As of January 31, 2021 (Unaudited)			As of July 31, 2020 (Audited)
Trademark1	$	28,138		$	28,138
Accumulated amortization		(3,638	)		(2,359	)
Total trademark	$	24,500		$	25,779

¹The trademarks are held under the company’s subsidiaries in Hong Kong and Shanghai, China. Amortization trademark for during the three and six months ended January 31, 2021 was $640 and $1,411

6. PREPAYMENTS AND DEPOSITS

Prepayments and deposits consisted of the following at January 31, 2021 and July 31, 2020:

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Deposits	$	60,347	$	66,388
Prepaid expenses		39,061		47,075
Total prepaid expenses and deposits	$	99,408	$	113,463

F-12

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

7. COMMON STOCK

On June 4, 2018, our Chief Executive Officer, Ms. Niu Yen-Yen subscribed 100,000 shares of restricted common stock of the Company at par value of $0.0001 per share. The monies from this transaction, which totalled $10, went to the Company to be used as initial working capital.

On July 6, 2018, Ms. Niu Yen-Yen and Server Int’l Co., Ltd. subscribed 25,000,000 and 11,000,000 restricted shares of common stock, respectively, of the Company, at par value of $0.0001 per share. The monies from these transactions, which totalled $3,600, went to the Company to be used as initial working capital. Server Int’l Co., Ltd. is controlled entirely by Ms. Niu Yen-Yen.

On July 7, 2018, Chang Chun-Ying and Chang Su-Fen subscribed 4,300,000 and 5,000,000 restricted shares of common stock, respectively, of the Company, at par value of $0.0001 per share. The monies from these transactions, which totalled $930, went to the Company to be used as initial working capital.

On July 9, 2018, GreenPro Asia Strategic SPC and GreenPro Venture Capital Limited, subscribed 2,835,000 and 2,165,000 restricted shares of common stock of the Company, respectively, at par value of $0.0001 per share. The monies from these transactions, which totalled $500, went to the Company to be used as initial working capital.

From July 9, 2018 to July 10, 2018 the Company issued a total of 2,150,000 shares of restricted common stock to three non-US residents. Shares were sold at par value, $0.0001 per share. Total proceeds from these shares totalled $215 and went to the Company to be used as initial working capital.

On July 11, 2018 the Company issued a total of 710,000 shares of restricted common stock to two non-US residents at a price of $0.03 per share. Total proceeds from these sales of shares totalled $21,300 and went to the Company to be used as initial working capital.

On July 25, 2018 the Company issued a total of 995,000 shares of restricted common stock to ten non-US residents at a price of $0.03 per share. Total proceeds from these sales of shares totalled $29,850 and went to the Company to be used as initial working capital.

On July 26, 2018 the Company issued 250,000 shares of restricted common stock to one non-US resident at a price of $0.20 per share. Total proceeds from these sales of shares totalled $50,000 and went to the Company to be used as initial working capital.

On July 31, 2018 Dezign Format Pte Ltd and Cheng Young-Chien each subscribed 2,000,000 restricted shares of common stock of the Company, at $0.20 per share, for total consideration of $800,000. Proceeds went to the Company to be used as initial working capital.

On July 10, 2018, Server Int’l Co., Ltd, a Company solely controlled and owned by the CEO has transferred 1,500,000 shares of common stock to 8 non-US residents.

From August 1, 2018 to December 13, 2018, Ms. Niu Yen-Yen, the CEO of the Company has transferred 1,557,800 shares of common stock to 16 non-US residents.

On May 7, 2019, the convertible promissory note issued by the Company amounted $779,125 to 45 accredited investors who reside in Taiwan with the conversion price of $1 per share have been converted to 779,125 common stock of the company after the S-1 registration statement was declared effective on May 6, 2019.

From May 14, 2019 to July 31, 2019, the company issued 150,317 shares of common stock at a price of $1.00 per share through the Initial Public Offering (IPO) to 36 non-US residents.

As of January 31, 2021, MU Global Holding Limited has an issued and outstanding common share of 59,434,838.

F-13

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

8. INVENTORIES

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Finished goods, at cost	$	46,678	$	51,798
Total inventories	$	46,678	$	51,798

9. DUE FROM RELATED PARTIES

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Tien Mu International Co., Ltd1	$	16,530	$	12,920
Total	$	16,530	$	12.920

¹ Tien Mu International Co., Ltd is owned by Yen-Yen Niu, the director and chief executive officer of the Company. Tien Mu is the operating agent of the Company in Taiwan’s operation and collects the deposit from franchisee on behalf of the company.

10. OTHER PAYABLES AND ACCRUED LIABILITIES

Other payables and accrued liabilities consisted of the following at January 31, 2021 and July 31, 2020:

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Accrued audit fees	$	21,100	$	14,000
Accrued professional fees		7,500		5,000
Other payable and accrued liabilities		86,329		38,643
Total payables and accrued liabilities	$	114,929	$	57,643

F-14

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

11. DUE TO RELATED PARTIES

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Wu, Chun-Teh1	$	42,412	$	39,066
Hsieh, Chang-Chung2		-		46,076
	$	42,412	$	85,142

As of January 31, 2021, the balance $42,412 represented an outstanding payable to a related party.

¹Wu, Chun-Teh is a shareholder of the Company, at the same time providing consultation services to the Company and also staff of the company have paid company operation expenses such as renovation cost, rental and staff salaries on behalf of Company.

²Hsieh, Chang-Chung is Chief Financial Officer (“Principal Financial Officer”, “Principal Accounting Officer”) of the company, and the amount represents the consultancy fee accrued.

The amounts due to related parties are unsecured, interest-free with no fixed repayment term, for working capital purpose.

12. LOAN FROM DIRECTOR

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Loan from Niu Yen-Yen	$	275,395	$	176,097
Total	$	275,395	$	176,097

The loan provided by director is unsecured, interest-free with no fixed repayment term, for working capital purpose. The amount is repayable on demand.

13. LOAN FROM RELATED PARTY

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Hong Ting Network Technology (Xiamen) Limited1	$	52,913	$	48,739
Total	$	52,913	$	48,739

¹Hong Ting Network Technology (Xiamen) Limited is wholly owned and managed by Ms Yen-Yen Niu, the CEO and director of the company. The loan is unsecured, interest-free and repayable in May 31,2020 and further extended to May 31, 2021 with a loan agreement entered on June 1, 2020.

14. INCOME TAXES

For the Six Months Ended January 31, 2021, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following:

	Six Months Ended January 31,
	2021			2020
Tax jurisdictions from:
Local	$	(16,144	)		(20,346	)
Foreign, representing
- Seychelles		-			-
- Hong Kong	$	(39,887	)		(62,921	)
- Shanghai	$	(181,736	)		(228,830	)
Loss before income tax	$	(237,767	)		(312,097	)

F-15

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

The provision for income taxes consisted of the following:

	For the period ended January 31, 2021		For the year ended January 31, 2020
Current:
- Local	$	-	$	-
- Foreign		-		-
Deferred:
- Local		-		-
- Foreign		-		-
Income tax expense	$	-	$	-

The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company has subsidiaries that operate in various countries: United States Seychelles, Hong Kong and Shanghai, PRC that are subject to taxes in the jurisdictions in which they operate, as follows:

United States of America

The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of January 31, 2021, the operations in the United States of America incurred $351,909 of cumulative net operating losses which can be carried forward indefinitely to offset a maximum of 80% future taxable income. The Company has provided for a full valuation allowance of $281,527 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

Seychelles

Under the current laws of the Seychelles, MU Worldwide Group Limited is registered as an international business company which governs by the International Business Companies Act of Seychelles and there is no income tax charged in Seychelles.

Hong Kong

MU Global Holding Limited is subject to Hong Kong Profits Tax, which is charged at the statutory income tax rate of 16.5% on its assessable income.

Shanghai

MU Global Health Management (Shanghai) Limited are operating in the People’s Republic of China (PRC) subject to the Corporate Income Tax governed by the Income Tax Law of the PRC with a unified statutory income tax rate of 25%.

F-16

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JANUARY 31, 2021

(Currency expressed in United States Dollars (“US$”), except for number of shares)

(UNAUDITED)

15. CONCENTRATIONS OF RISK

Exchange rate risk

The Company cannot guarantee that the current exchange rate will remain stable, therefore there is a possibility that the Company could post the same amount of income for two comparable periods and because of the fluctuating exchange rate actually post higher or lower income depending on exchange rate of RMB converted into US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice.

16. COMMITMENTS AND CONTINGENCIES

On November 1, 2020, the company entered into a contract rental agreement to rent the office in Shanghai for a period of 2 years commencing November 1, 2020

As of January 31, 2020, the Company has the aggregate minimal rent payments due in the next 5 years as follows:

2020	$	1,710
2021	$	10,259
2022	$	8,555
2023	$	8,549
Total	$	29,073

17. RELATED PARTY TRANSACTIONS

For the period ended January 31, 2021 the Company has following transactions with related parties:

	For the period ended January 31, 2021 (Unaudited)		For the year ended January 31, 2020 (Unaudited)
Professional fee paid:
- Related party A	$	2,500	$	12,000
Consultation fee paid:
- Related party B	$	4,500	$	17,400
- Related party C	$	8,100	$	43,530
Total	$	15,100	$	72,930

Related party A is the fellow subsidiaries of a corporate shareholder of the Company. Related party B and C are the shareholders of the Company.

For the year ended January 31, 2021, the Company incurred professional fees of $2,500 due to related party A. Related party B and C are the employees of the Company and have provided consultancy service for business operation.

The related party transactions are generally transacted in an arm-length basis at the current market value in the normal course of business.

18. SUBSEQUENT EVENTS

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after January 31, 2021 up through the date July 31, 2020 was the Company presented these audited consolidated financial statements.

19. SIGNIFICANT EVENTS

During the fiscal year, the World Health Organization declared the Coronavirus (COVID-19) outbreak to be a pandemic, which has caused severe global social and economic disruptions and uncertainties, including markets where the Company operates. The consequences brought about by Covid-19 continue to evolve and whilst the Company actively monitoring and managing its operations to respond to these changes, the Company does not consider it practicable to provide any quantitative estimate on the potential impact it may have on the Company.

F-17

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The information contained in this quarter report on Form 10-Q is intended to update the information contained in our Form S-1 Amendment No.3, dated April 30, 2019, for the period ended January 31, 2021 and presumes that readers have access to, and will have read, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other information contained in such Form S-1. The following discussion and analysis also should be read together with our consolidated financial statements and the notes to the consolidated financial statements included elsewhere in this Form 10-Q.

The following discussion contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements appear in a number of places in this Report, including, without limitation, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarterly report. You should not put undue reliance on any forward-looking statements. We strongly encourage investors to carefully read the factors described in our Form S-1 Amendment No.3, dated April 30, 2019, in the section entitled “Risk Factors” for a description of certain risks that could, among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this transition report on Form 10-Q. The following should also be read in conjunction with the unaudited Condensed Consolidated Financial Statements and notes thereto that appear elsewhere in this report.

Company Overview

MU Global Holding Limited, the US Company, operates through its wholly owned subsidiary, MU Worldwide Group Limited, a Seychelles Company; which operates through its wholly owned subsidiary, MU Global Holding Limited, a Hong Kong Company; which operates through its wholly owned subsidiary, MU Global Health Management (Shanghai) Limited, a Shanghai Company. The US, Seychelles and Hong Kong Companies act solely for holding purposes whereas all current and future operations in China are planned to be carried out via MU Global Health Management (Shanghai) Limited, the Shanghai Company. The purpose of the Hong Kong Company is to function as the current regional hub of the Company.

At present, we have a physical office in Shanghai with an address of A310, No. 2633, Yan’an West Road, Changning District, Shanghai City, 200050 People Republic China, in which renovation has completed in October 2018 and the Company has commenced business operations from the office. In addition, we also have a physical outlet in Shanghai with address of 203, No. 193 Luo Jin Hui South Road, Minhang District, Shanghai City, 201103, People Republic China in which renovation completed in January 2019 and we have started to provide our services to customers in Shanghai. In the future, we do not have definitive plans for which markets intend to expand to, but we base our operations out of our Shanghai location, as we prepare for future unidentified expansion efforts.

All of the previous entities share the same exact business plan with the goal of developing and providing wellness and beauty services to our future clients. We aim to promote improved overall health and beauty in our clients through a holistic detoxification method. We will, at least initially, primarily focus our efforts on attracting customers in China. We have intentions, but no definitive plans or timelines, to expand to Singapore, Malaysia, Hong Kong, and Middle Eastern countries in the coming years, and subsequently we intend to make efforts to expand throughout Asia. We anticipate spending a substantial amount in marketing and advertising in the coming year.

3

Results of Operation

For the Six months ended January 31, 2021 and 2020

Revenues

For the six months ended January 31, 2021 and 2020, the Company has generated revenue of $41,076 and $92,311 respectively. The revenue represented income from wellness and beauty services provided to customers and sales of products via Shanghai outlets and sharing of revenue from leasable equipment with business alliance and franchisee.

Cost of Revenue and Gross Margin

For the six months ended January 31, 2021 and 2020, cost incurred arise in providing wellness and beauty services is $9,556 and $7,365 respectively, and generate a Gross profits the for the six months ended January 31, 2021 and 2020 of $31,520 and $84,946.

Selling and marketing expenses

For the six months ended January 31, 2021 and 2020, we had incurred no marketing expenses on January 31, 2021 and incurred amount $17,722 on January 31, 2020. These expenses comprised of advertisement expenses on Wechat, mobile apps and public research on the market, and travelling expenses.

General and administrative expenses

For the six months ended January 31, 2021 and 2020, we had incurred general and administrative expenses in the amount of $294,274 on January 31, 2021 and $384,593 on January 31, 2020. These expenses are comprised of salary, allowance, professional fees, consultancy fee for IT and system management, office and outlet operation expenses and depreciation.

Other Income

The Company recorded an amount of $24,987 and $5,272 as other income for the six months ended January 31, 2021 and 2020. This income is derived from the interest income.

Net Loss

Our net loss for six months ended January 31, 2021 and 2020 were $237,767 and $312,097. The net loss mainly derived from the general and administrative expenses incurred.

4

Liquidity and Capital Resources

As of January 31, 2021 and 2020, we had cash and cash equivalents of $43,603 and $74,560 respectively. We expect increased levels of operations going forward will result in more significant cash flow and in turn working.

We depend substantially on financing activities to provide us with the liquidity and capital resources we need to meet our working capital requirements and to make capital investments in connection with ongoing operations. During the six months ended January 31, 2021, we have met these requirements primarily from the receipt of subscription for convertible promissory note and share subscription from Initial Public Offering (IPO).

Cash Used In Operating Activities

For the six months ended January 31, 2021, net cash used in operating activities was $85,511 as compared to net cash used in operating activities of $269,996 for the six months ended January 31, 2020. The increased in cash used in operating activities was mainly for payment of general and administrative expenses.

Cash Provided By Financing Activities

For the six months ended January 31, 2021 and 2020, net cash provided by financing activities was $109,517 and $158,570 respectively. The financing cash flow performance primarily reflects the provision of long-term loan by director and related party.

Cash Provided By Investing Activities

For the six months ended January 31, 2021, net cash from investing activities was $12,110 as compared to net cash used in investing activities of $204,800 for the six months ended January 31, 2020. The investing cash flow performance primarily reflects the purchase of property, plant and equipment and trademark.

Credit Facilities

We do not have any credit facilities or other access to bank credit.

Off-balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders as of January 31, 2021.

Recent Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

For the three months ended January 31, 2021 and 2020

Revenues

For the three months ended January 31, 2021 and 2020, the Company has generated revenue of $19,381 and $65,141 respectively. The revenue represented income from wellness and beauty services provided to customers and sales of products via Shanghai outlets and sharing of revenue from leasable equipment with business alliance and franchisee.

5

Cost of Revenue and Gross Margin

For the three months ended January 31, 2021 and 2020, cost incurred arise in providing wellness and beauty services is $7,845 and $5,296 respectively, and generate a Gross profits the for the three months ended January 31, 2021 and 2020 of $11,536 and $59,845.

Selling and marketing expenses

For the three months ended January 31, 2021 and 2020, we had incurred no marketing expenses on January 31, 2021 and incurred amount $14,615 on January 31, 2020. These expenses comprised of advertisement expenses on Wechat, mobile apps and public research on the market, and travelling expenses.

General and administrative expenses

For the three months ended January 31, 2021 and 2020, we had incurred general and administrative expenses in the amount of $173,023 on January 31, 2021 and $166,542 on January 31, 2020. These expenses are comprised of salary, allowance, professional fees, consultancy fee for IT and system management, office and outlet operation expenses and depreciation.

Other Income

The Company recorded an amount of $20,321 and $1,551 as other income for the three months ended January 31, 2021 and 2020. This income is derived from the interest income.

Net Loss

Our net loss for three months ended January 31, 2021 and 2020 were $141,166 and $119,761. The net loss mainly derived from the general and administrative expenses incurred.

Credit Facilities

We do not have any credit facilities or other access to bank credit.

Off-balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders as of January 31, 2021.

Recent Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

6

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:

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of JANUARY 31, 2021. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of April 30, 2019, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. Management has identified the following material weaknesses which have caused management to conclude that, as of JANUARY 31, 2021, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

Changes in Internal Control over Financial Reporting:

There were no changes in our internal control over financial reporting during the quarter ended January 31, 2021, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

7

PART II — OTHER INFORMATION

Item 1. Legal Proceedings

We know of no materials, active or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceedings or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any beneficial shareholder are an adverse party or has a material interest adverse to us.

Item 1A. Risk Factors.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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

None

Item 3. Defaults Upon Senior Securities

None

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information.

None

8

ITEM 6. Exhibits

Exhibit No.	Description
31.1	Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer*
31.2	Rule 13(a)-14(a)/15(d)-14(a) Certification of principal financial officer*
32.1	Section 1350 Certification of principal executive officer *
32.2	Section 1350 Certification of principal financial officer *
101.INS	XBRL Instance Document*
101.SCH	XBRL Schema Document*
101.CAL	XBRL Calculation Linkbase Document*
101.DEF	XBRL Definition Linkbase Document*
101.LAB	XBRL Label Linkbase Document*
101.PRE	XBRL Presentation Linkbase Document*

* Filed herewith.

9

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.

	MU Global Holding Limited
	(Name of Registrant)
Date: March 17, 2021	By:	/s/ NIU YEN YEN
	Title:	Chief Executive Officer, President, Director, Secretary and Treasurer
		(Principal Executive Officer)

Date: March 17, 2021	By:	/s/ HSIEH CHANG CHUNG
	Title:	Chief Financial Officer, (Principal Financial Officer, Principal Accounting Officer)

10

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, NIU YEN YEN, certify that:

1. I have reviewed this quarterly report on Form 10-Q of MU Global Holding Limited (the “Company”) for the quarter ended January 31, 2021;

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 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 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 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 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 the 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 17, 2021	By:	/s/ NIU YEN YEN
		NIU YEN YEN
		Chief Executive Officer, President, Director, Secretary, Treasurer
		(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION

I, HSIEH CHANG CHUNG, certify that:

1. I have reviewed this quarterly report on Form 10-Q of MU Global Holding Limited (the “Company”) for the quarter ended January 31, 2021;

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 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 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 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 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 the 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 17, 2021	By:	/s/ HSIEH CHANG CHUNG
		HSIEH CHANG CHUNG
		Chief Financial Officer, (Principal Financial Officer, Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION 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 MU Global Holding Limited (the “Company”) on Form 10-Q for the quarter ended January 31, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), The undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 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 result of operations of the Company.

Date: March 17, 2021	By:	/s/ NIU YEN YEN
		NIU YEN YEN
		Chief Executive Officer, President, Director
		(Principal Executive Officer)

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

EXHIBIT 32.2

CERTIFICATION 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 MU Global Holding Limited (the “Company”) on Form 10-Q for the quarter ended January 31, 2021 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), The undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 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 result of operations of the Company.

Date: March 17, 2021	By:	/s/ HSIEH CHANG CHUNG
		HSIEH CHANG CHUNG
		Chief Financial Officer
		(Principal Financial Officer, Principal Accounting Officer)

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	6 Months Ended
	Jan. 31, 2021	Mar. 15, 2021
Cover [Abstract]
Entity Registrant Name	MU GLOBAL HOLDING Ltd
Entity Central Index Key	0001746119
Document Type	10-Q
Document Period End Date	Jan. 31, 2021
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		59,434,838
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021

XML

Condensed Consolidated Balance Sheets - USD ($)	Jan. 31, 2021	Jul. 31, 2020
NON CURRENT ASSETS
Property, plant and equipment	$ 291,906	$ 429,261
Leased asset- Right of use	18,068	198,514
Total non-current assets	309,974	627,775
INTANGIBLE ASSET
Trademark	24,500	25,779
Total Intangible asset	334,474	653,554
CURRENT ASSETS
Cash and cash equivalents	43,603	11,670
Other receivables		193
Prepayments and deposits	99,408	113,463
Amount due from related parties	16,530	12,920
Inventories	46,678	51,798
Total Current Assets	206,219	190,044
TOTAL ASSETS	540,693	843,598
NON-CURRENT LIABILITIES
Leased liabilities	7,904	148,431
Total Non-Current Liabilities	7,904	148,431
CURRENT LIABILITIES
Loan from director	275,395	176,097
Leased liabilities	10,164	58,796
Loan from related party	52,913	48,739
Other payables and accrued liabilities	114,929	57,643
Amount due to related parties	42,412	85,142
Deposit from franchisee	39,332	42,624
Deposit from customers	45,306	38,148
Total Current Liabilities	580,451	507,189
TOTAL LIABILITIES	588,355	655,620
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding
Common Shares, par value $0.0001; 600,000,000 shares authorized, 59,434,838 shares issued and outstanding as of January 31, 2021 and July 31, 2020	5,943	5,943
Additional paid in capital	1,830,300	1,830,300
Foreign currency adjustment	(1,234)	(3,361)
Accumulated deficit	(1,882,671)	(1,644,904)
TOTAL STOCKHOLDERS' EQUITY	(47,662)	187,978
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 540,693	$ 843,598

XML

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2021	Jul. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	59,434,838	59,434,838
Common stock, shares outstanding	59,434,838	59,434,838

XML

Condensed Consolidated Statements of Operations and Comprehensive Losses (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Income Statement [Abstract]
REVENUE	$ 19,381	$ 65,141	$ 41,076	$ 92,311
COST OF REVENUE	(7,845)	(5,296)	(9,556)	(7,365)
GROSS PROFIT	11,536	59,845	31,520	84,946
OTHER INCOME	20,321	1,551	24,987	5,272
SELLING AND MARKETING EXPENSES		(14,615)		(17,722)
GENERAL AND ADMINISTRATIVE EXPENSES	(173,023)	(166,542)	(294,274)	(384,593)
LOSS BEFORE INCOME TAX	(141,166)	(119,761)	(237,767)	(312,097)
INCOME TAX PROVISION
NET LOSS	(141,166)	(119,761)	(237,767)	(312,097)
Other comprehensive income/(expense):
- Foreign currency translation gain/(loss)	(750)	3,789	2,127	(8,149)
TOTAL COMPREHENSIVE LOSS	$ (141,916)	$ (115,972)	$ (235,640)	$ (320,246)
Net loss per share- Basic and diluted	$ (0.0023)	$ (0.0019)	$ (0.0040)	$ (0.0054)
Weighted average number of common shares outstanding - Basic and diluted	59,434,838	59,434,838	59,434,838	59,434,838

XML

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Shares [Member]	Additional Paid-In Capital [Member]	Accumulate Others Comprehensive Income Loss [Member]	Accumulated Deficit [Member]	Total
Beginning balance at Jul. 31, 2019	$ 5,943	$ 1,830,300	$ 8,727	$ (975,996)	$ 868,974
Beginning balance, shares at Jul. 31, 2019	59,434,838
Net loss for the period				(192,336)	(192,336)
Foreign currency translation adjustment			(11,938)		(11,938)
Ending balance at Oct. 31, 2019	$ 5,943	1,830,300	(3,211)	(1,168,332)	664,700
Ending balance, shares at Oct. 31, 2019	59,434,838
Beginning balance at Jul. 31, 2019	$ 5,943	1,830,300	8,727	(975,996)	868,974
Beginning balance, shares at Jul. 31, 2019	59,434,838
Net loss for the period					(312,097)
Foreign currency translation adjustment					(8,149)
Ending balance at Jan. 31, 2020	$ 5,943	1,830,300	578	(1,288,093)	548,728
Ending balance, shares at Jan. 31, 2020	59,434,838
Beginning balance at Oct. 31, 2019	$ 5,943	1,830,300	(3,211)	(1,168,332)	664,700
Beginning balance, shares at Oct. 31, 2019	59,434,838
Net loss for the period				(119,761)	(119,761)
Foreign currency translation adjustment			3,789		3,789
Ending balance at Jan. 31, 2020	$ 5,943	1,830,300	578	(1,288,093)	548,728
Ending balance, shares at Jan. 31, 2020	59,434,838
Beginning balance at Jul. 31, 2020	$ 5,943	1,830,300	(3,361)	(1,644,904)	187,978
Beginning balance, shares at Jul. 31, 2020	59,434,838
Net loss for the period				(96,601)	(96,601)
Foreign currency translation adjustment			2,877		2,877
Ending balance at Oct. 31, 2020	$ 5,943	1,830,300	(484)	(1,741,505)	94,254
Ending balance, shares at Oct. 31, 2020	59,434,838
Beginning balance at Jul. 31, 2020	$ 5,943	1,830,300	(3,361)	(1,644,904)	187,978
Beginning balance, shares at Jul. 31, 2020	59,434,838
Net loss for the period					(237,767)
Foreign currency translation adjustment					2,127
Ending balance at Jan. 31, 2021	$ 5,943	1,830,300	(484)	(1,882,671)	(47,662)
Ending balance, shares at Jan. 31, 2021	59,434,838
Beginning balance at Oct. 31, 2020	$ 5,943	1,830,300	(484)	(1,741,505)	94,254
Beginning balance, shares at Oct. 31, 2020	59,434,838
Net loss for the period				(141,166)	(141,166)
Foreign currency translation adjustment			(750)		(750)
Ending balance at Jan. 31, 2021	$ 5,943	$ 1,830,300	$ (484)	$ (1,882,671)	$ (47,662)
Ending balance, shares at Jan. 31, 2021	59,434,838

XML

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (237,767)	$ (312,097)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	102,807	82,928
Asset Write-off	73,053	4,264
Reversal on Termination of Leased Asset	(6,384)
Gain on Disposal	(6,489)
Changes in operating assets and liabilities:
Other receivables	194	(4,688)
Deposit & Prepayment	19,047	32,222
Other payables and accrued liabilities	(13,126)	(51,199)
Inventory	9,556	(5,340)
Amount due to related party		(5,326)
Amount due from related party	(3,610)	(17,922)
Leased liabilities	(20,847)	(13,565)
Deposit from customer	151	14,415
Deposit from franchisee	(2,096)	6,342
Net cash used in operating activities	(85,511)	(269,966)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of trademark		(26,394)
Purchase of property, plant and equipment		(178,406)
Proceed on disposal	12,110
Net cash used in investing activities	12,110	(204,800)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan from director	88,492	115,324
Loam from related party	21,025	43,246
Subscription receivables
Net cash provided by financing activities	109,517	158,570
Effect of exchange rate changes on cash and cash equivalents	(4,183)	(3,647)
Net change in cash and cash equivalents	31,933	(319,843)
Cash and cash equivalents, beginning of period	11,670	394,403
CASH AND CASH EQUIVALENTS, END OF PERIOD	43,603	74,560
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid
Interest paid

XML

Description of Business and Organization

6 Months Ended

Jan. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business and Organization

1. DESCRIPTION OF BUSINESS AND ORGANIZATION

MU Global Holding Limited is organized as a Nevada limited liability company, incorporated on June 4, 2018. For purposes of consolidated financial statement presentation, MU Global Holding Limited and its subsidiary are herein referred to as “the Company” or “we”. The Company business of which planned principal operations are to provide wellness and beauty services to customers via Company owned outlets, franchised outlets or distribution of our product to third party wellness and beauty salon.

On June 29, 2018, the Company acquired 100% interest in MU Worldwide Group Limited, a private limited liability company incorporated in Seychelles and its subsidiary MU Global Holding Limited, a private limited liability company incorporated in Hong Kong. On August 16, 2018, the Hong Kong Company incorporated MU Global Health Management (Shanghai) Limited, a wholly owned subsidiary of which incorporated in Shanghai, People Republic of China.

Details of the Company’s subsidiary:

	Company name	Place and date of incorporation	Particulars of issued capital	Principal activities
1.	MU Worldwide Group Limited	Seychelles, June 7, 2018	100 share of ordinary share of US$1 each	Investment holding
2.	MU Global Holding Limited	Hong Kong, January 30, 2018	1 ordinary share of HKD$1	Providing SPA and Wellness service in Hong Kong
3.	MU Global Health Management	Shanghai, August 16, 2018	RMB 7,400,300	Providing SPA and Wellness service in China

XML

Summary of Significant Accounting Policies

6 Months Ended

Jan. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).

The Company has adopted its fiscal year-end to be July 31.

Basis of consolidation

The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation.

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Revenue recognition

In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition”, the Company recognizes revenue from sales of goods when the following four revenue criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) selling price is fixed or determinable; and (4) collectability is reasonably assured.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue. The Company derives its revenue from provision of wellness and beauty services to customers via Company owned outlets, franchised outlets or distribution of our product to third party wellness and beauty salon.

Cost of revenue

Cost of revenue includes the cost of services and product incurred to provide wellness and beauty services and purchase of products.

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

Property, Plant and equipment

Property, Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Categories	Estimated useful life
Leasable equipment	5 years
Computer hardware and software	3 years
Office equipment	3 years

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations.

Leases

Prior to November 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective November 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The implementation of ASC 842 did not have a material impact on the Company’s consolidated financial statements and did not have a significant impact on our liquidity. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. (see Note 4 ).

Inventories

Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Condensed Consolidated Statements of Operations and Comprehensive Income.

Income taxes

Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

The Company conducts major businesses in China and is subject to tax in this jurisdiction. As a result of its business activities, the Company will file tax returns that are subject to examination by the foreign tax authority.

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the period ended January 31, 2021, the Company incurred a net loss of $237,767 and has generated revenue of $41,076. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

Net loss per share

The Company calculates net loss per share in accordance with ASC Topic 260 “Earnings per share”. Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income.

The reporting currency of the Company and its subsidiary is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$.

In general, for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity.

Translation of amounts from RMB and HK$ into US$1 has been made at the following exchange rates for the respective periods:

	As of and for the six months ended January 31
	2021		2020
Period-end RMB : US$1 exchange rate		6.4256		6.937
Period-average RMB : US$1 exchange rate		6.6675		7.037
Period-end HKD$ : US$1 exchange rate		7.7532		7.766
Period-average HKD$ : US$1 exchange rate		7.7517		7.821

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: cash and cash equivalents, account receivables, amount due to a director, and accounts payable and approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent accounting pronouncements

ASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

XML

Property, Plant and Equipment

6 Months Ended

Jan. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

3. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment as of January 31, 2021 and July 31, 2020 are summarized below:

	As of January 31, 2021 (Unaudited)			As of July 31, 2020 (Audited)
Leasehold improvement	$	-		$	148,982
Computer hardware and software		129,301			129,301
Outlet equipment		100,686			100,686
Leasable equipment		216,382			223,560
Application development		37,413			37,413
Outlet Design Fee and Equipment1		16,963			16,763
Total		500,745			656,705
Accumulated depreciation	$	(238,548	)	$	(220,001	)
Foreign currency translation adjustment		29,709			(7,443	)
Property, plant and equipment, net	$	291,906		$	429,261

¹Outlet design fee is fee incurred for the outlet design concept to be follow by all the outlets or shops under the Company so to be a signage outlets of the company. As of January 31, 2021, the outlet design has not yet completed, therefore no depreciation has been provided.

²App development fee is fee incurred for the design and development of the mobile App for the Company. As of January 31, 2021, the app development has not yet completed, therefore no depreciation has been provided.

³ During the period ended January 31, 2021, 5 units of leasable equipment amounted to $7,178 disposed at a net asset value of $5,622 and generate a gain on disposal of $6,489.

⁴ Depreciation expense for the six month period ended January 31, 2021 and January 31, 2020 was 84,037 and 80,196 respectively

WRITE OFF OF PROPERTY AND EQUIPMENT

	January 31, 2021			July 31, 2020
Write off of property and equipment	$	148,982		$	-
Accumulated depreciation		(80,677	)		-
Total Write off of property and equipment	$	68,305		$	-

XML

Lease

6 Months Ended

Jan. 31, 2021

Leases [Abstract]

Lease

4. LEASE

The Company officially adopted ASC 842 for the period on and after November 1, 2019 as permitted by ASU 2016-02. ASC 842 originally required all entities to use a “modified retrospective” transition approach that is intended to maximize comparability and be less complex than a full retrospective approach. On July 30, 2018, the FASB issued ASU 2018-11 to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02 of which permits entities may elect not to recast the comparative periods presented when transitioning to ASC 842. As permitted by ASU 2018-11, the Company elect not to recast comparative periods, thusly.

As of November 1, 2020, the Company recognized approximately US$19,724, lease liability as well as right-of-use asset for all leases (with the exception of short-term leases) at the commencement date. Lease liabilities are measured at present value of the sum of remaining rental payments as of November 1, 2020, with discounted rate of 4.15% adopted from People’s Bank of China as a reference for discount rate.

A single lease cost is recognized over the lease term on a generally straight-line basis. All cash payments of operating lease cost are classified within operating activities in the statement of cash flows.

The initial recognition of operating lease right and lease liability as follow:

Gross lease payable	$	21,370
Less: imputed interest		(826	)
Initial recognition as of November 1, 2020	$	20,544

As of January 31, 2021 operating lease right of use asset as follow:

Initial recognition as of November 1, 2020	$	20,544
Accumulated amortization		(2,476	)
Balance as of January 31, 2021	$	18,068

As of January 31, 2021, operating lease liability as follow:

Initial recognition as of November 1, 2020	$	20,544
Less: gross repayment		(2,671	)
Add: imputed interest		195
Balance as of January 31, 2021	$	18,068
Less: lease liability current portion		(10,164	)
Lease liability non-current portion	$	7,904

For the six months ended January 31, 2021, the amortization of the operating lease right of use asset are $17,359.

Maturities of operating lease obligation as follow:

Year ending
July 31, 2021 (6 months)	$	5,029
July 31, 2022 (12 months)		10,377
October 31, 2022 (3 months)		2,662
Total	$	18,068

Other information:

	Six months ended January 31,
	2021			2020
	(unaudited)			(unaudited)
Cash paid for amounts included in the measurement of lease liabilities:		-			-
Operating cash flow from operating lease	$	20,847		$	13,565
Right-of-use assets obtained in exchange for operating lease liabilities		18,068			235,635
Remaining lease term for operating lease (years)		1.75			3.75
Weighted average discount rate for operating lease		4.15	%		4.15	%

Lease expenses were $2,476 and $19,421 during the three and six months ended January 31, 2021, respectively. The Company adopt ASC 842 on and after November 1, 2019

XML

Trademark

6 Months Ended

Jan. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Trademark

5. TRADEMARK

	As of January 31, 2021 (Unaudited)			As of July 31, 2020 (Audited)
Trademark1	$	28,138		$	28,138
Accumulated amortization		(3,638	)		(2,359	)
Total trademark	$	24,500		$	25,779

¹The trademarks are held under the company’s subsidiaries in Hong Kong and Shanghai, China. Amortization trademark for during the three and six months ended January 31, 2021 was $640 and $1,411

XML

Prepayments and Deposits

6 Months Ended

Jan. 31, 2021

Prepayments And Deposits

Prepayments and Deposits

6. PREPAYMENTS AND DEPOSITS

Prepayments and deposits consisted of the following at January 31, 2021 and July 31, 2020:

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Deposits	$	60,347	$	66,388
Prepaid expenses		39,061		47,075
Total prepaid expenses and deposits	$	99,408	$	113,463

XML

Common Stock

6 Months Ended

Jan. 31, 2021

Equity [Abstract]

Common Stock

7. COMMON STOCK

On June 4, 2018, our Chief Executive Officer, Ms. Niu Yen-Yen subscribed 100,000 shares of restricted common stock of the Company at par value of $0.0001 per share. The monies from this transaction, which totalled $10, went to the Company to be used as initial working capital.

On July 6, 2018, Ms. Niu Yen-Yen and Server Int’l Co., Ltd. subscribed 25,000,000 and 11,000,000 restricted shares of common stock, respectively, of the Company, at par value of $0.0001 per share. The monies from these transactions, which totalled $3,600, went to the Company to be used as initial working capital. Server Int’l Co., Ltd. is controlled entirely by Ms. Niu Yen-Yen.

On July 7, 2018, Chang Chun-Ying and Chang Su-Fen subscribed 4,300,000 and 5,000,000 restricted shares of common stock, respectively, of the Company, at par value of $0.0001 per share. The monies from these transactions, which totalled $930, went to the Company to be used as initial working capital.

On July 9, 2018, GreenPro Asia Strategic SPC and GreenPro Venture Capital Limited, subscribed 2,835,000 and 2,165,000 restricted shares of common stock of the Company, respectively, at par value of $0.0001 per share. The monies from these transactions, which totalled $500, went to the Company to be used as initial working capital.

From July 9, 2018 to July 10, 2018 the Company issued a total of 2,150,000 shares of restricted common stock to three non-US residents. Shares were sold at par value, $0.0001 per share. Total proceeds from these shares totalled $215 and went to the Company to be used as initial working capital.

On July 11, 2018 the Company issued a total of 710,000 shares of restricted common stock to two non-US residents at a price of $0.03 per share. Total proceeds from these sales of shares totalled $21,300 and went to the Company to be used as initial working capital.

On July 25, 2018 the Company issued a total of 995,000 shares of restricted common stock to ten non-US residents at a price of $0.03 per share. Total proceeds from these sales of shares totalled $29,850 and went to the Company to be used as initial working capital.

On July 26, 2018 the Company issued 250,000 shares of restricted common stock to one non-US resident at a price of $0.20 per share. Total proceeds from these sales of shares totalled $50,000 and went to the Company to be used as initial working capital.

On July 31, 2018 Dezign Format Pte Ltd and Cheng Young-Chien each subscribed 2,000,000 restricted shares of common stock of the Company, at $0.20 per share, for total consideration of $800,000. Proceeds went to the Company to be used as initial working capital.

On July 10, 2018, Server Int’l Co., Ltd, a Company solely controlled and owned by the CEO has transferred 1,500,000 shares of common stock to 8 non-US residents.

From August 1, 2018 to December 13, 2018, Ms. Niu Yen-Yen, the CEO of the Company has transferred 1,557,800 shares of common stock to 16 non-US residents.

On May 7, 2019, the convertible promissory note issued by the Company amounted $779,125 to 45 accredited investors who reside in Taiwan with the conversion price of $1 per share have been converted to 779,125 common stock of the company after the S-1 registration statement was declared effective on May 6, 2019.

From May 14, 2019 to July 31, 2019, the company issued 150,317 shares of common stock at a price of $1.00 per share through the Initial Public Offering (IPO) to 36 non-US residents.

As of January 31, 2021, MU Global Holding Limited has an issued and outstanding common share of 59,434,838.

XML

Inventories

6 Months Ended

Jan. 31, 2021

Inventory Disclosure [Abstract]

Inventories

8. INVENTORIES

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Finished goods, at cost	$	46,678	$	51,798
Total inventories	$	46,678	$	51,798

XML

Due from Related Parties

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Due from Related Parties

9. DUE FROM RELATED PARTIES

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Tien Mu International Co., Ltd1	$	16,530	$	12,920
Total	$	16,530	$	12.920

¹ Tien Mu International Co., Ltd is owned by Yen-Yen Niu, the director and chief executive officer of the Company. Tien Mu is the operating agent of the Company in Taiwan’s operation and collects the deposit from franchisee on behalf of the company.

XML

Other Payables and Accrued Liabilities

6 Months Ended

Jan. 31, 2021

Payables and Accruals [Abstract]

Other Payables and Accrued Liabilities

10. OTHER PAYABLES AND ACCRUED LIABILITIES

Other payables and accrued liabilities consisted of the following at January 31, 2021 and July 31, 2020:

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Accrued audit fees	$	21,100	$	14,000
Accrued professional fees		7,500		5,000
Other payable and accrued liabilities		86,329		38,643
Total payables and accrued liabilities	$	114,929	$	57,643

XML

Due to Related Parties

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Due to Related Parties

11. DUE TO RELATED PARTIES

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Wu, Chun-Teh1	$	42,412	$	39,066
Hsieh, Chang-Chung2		-		46,076
	$	42,412	$	85,142

As of January 31, 2021, the balance $42,412 represented an outstanding payable to a related party.

¹Wu, Chun-Teh is a shareholder of the Company, at the same time providing consultation services to the Company and also staff of the company have paid company operation expenses such as renovation cost, rental and staff salaries on behalf of Company.

²Hsieh, Chang-Chung is Chief Financial Officer (“Principal Financial Officer”, “Principal Accounting Officer”) of the company, and the amount represents the consultancy fee accrued.

The amounts due to related parties are unsecured, interest-free with no fixed repayment term, for working capital purpose.

XML

Loan from Director

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Loan from Director

12. LOAN FROM DIRECTOR

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Loan from Niu Yen-Yen	$	275,395	$	176,097
Total	$	275,395	$	176,097

The loan provided by director is unsecured, interest-free with no fixed repayment term, for working capital purpose. The amount is repayable on demand.

XML

Loan from Related Party

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Loan from Related Party

13. LOAN FROM RELATED PARTY

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Hong Ting Network Technology (Xiamen) Limited1	$	52,913	$	48,739
Total	$	52,913	$	48,739

¹Hong Ting Network Technology (Xiamen) Limited is wholly owned and managed by Ms Yen-Yen Niu, the CEO and director of the company. The loan is unsecured, interest-free and repayable in May 31,2020 and further extended to May 31, 2021 with a loan agreement entered on June 1, 2020.

XML

Income Taxes

6 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

14. INCOME TAXES

For the Six Months Ended January 31, 2021, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following:

	Six Months Ended January 31,
	2021			2020
Tax jurisdictions from:
Local	$	(16,144	)		(20,346	)
Foreign, representing
- Seychelles		-			-
- Hong Kong	$	(39,887	)		(62,921	)
- Shanghai	$	(181,736	)		(228,830	)
Loss before income tax	$	(237,767	)		(312,097	)

The provision for income taxes consisted of the following:

	For the period ended January 31, 2021		For the year ended January 31, 2020
Current:
- Local	$	-	$	-
- Foreign		-		-
Deferred:
- Local		-		-
- Foreign		-		-
Income tax expense	$	-	$	-

The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company has subsidiaries that operate in various countries: United States Seychelles, Hong Kong and Shanghai, PRC that are subject to taxes in the jurisdictions in which they operate, as follows:

United States of America

The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of January 31, 2021, the operations in the United States of America incurred $351,909 of cumulative net operating losses which can be carried forward indefinitely to offset a maximum of 80% future taxable income. The Company has provided for a full valuation allowance of $281,527 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

Seychelles

Under the current laws of the Seychelles, MU Worldwide Group Limited is registered as an international business company which governs by the International Business Companies Act of Seychelles and there is no income tax charged in Seychelles.

Hong Kong

MU Global Holding Limited is subject to Hong Kong Profits Tax, which is charged at the statutory income tax rate of 16.5% on its assessable income.

Shanghai

MU Global Health Management (Shanghai) Limited are operating in the People’s Republic of China (PRC) subject to the Corporate Income Tax governed by the Income Tax Law of the PRC with a unified statutory income tax rate of 25%.

XML

Concentrations of Risk

6 Months Ended

Jan. 31, 2021

Risks and Uncertainties [Abstract]

Concentrations of Risk

15. CONCENTRATIONS OF RISK

Exchange rate risk

The Company cannot guarantee that the current exchange rate will remain stable, therefore there is a possibility that the Company could post the same amount of income for two comparable periods and because of the fluctuating exchange rate actually post higher or lower income depending on exchange rate of RMB converted into US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice.

XML

Commitments and Contingencies

6 Months Ended

Jan. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

16. COMMITMENTS AND CONTINGENCIES

On November 1, 2020, the company entered into a contract rental agreement to rent the office in Shanghai for a period of 2 years commencing November 1, 2020

As of January 31, 2020, the Company has the aggregate minimal rent payments due in the next 5 years as follows:

2020	$	1,710
2021	$	10,259
2022	$	8,555
2023	$	8,549
Total	$	29,073

XML

Related Party Transactions

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Related Party Transactions

17. RELATED PARTY TRANSACTIONS

For the period ended January 31, 2021 the Company has following transactions with related parties:

	For the period ended January 31, 2021 (Unaudited)		For the year ended January 31, 2020 (Unaudited)
Professional fee paid:
- Related party A	$	2,500	$	12,000
Consultation fee paid:
- Related party B	$	4,500	$	17,400
- Related party C	$	8,100	$	43,530
Total	$	15,100	$	72,930

Related party A is the fellow subsidiaries of a corporate shareholder of the Company. Related party B and C are the shareholders of the Company.

For the year ended January 31, 2021, the Company incurred professional fees of $2,500 due to related party A. Related party B and C are the employees of the Company and have provided consultancy service for business operation.

The related party transactions are generally transacted in an arm-length basis at the current market value in the normal course of business.

XML

Subsequent Events

6 Months Ended

Jan. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

18. SUBSEQUENT EVENTS

In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after January 31, 2021 up through the date July 31, 2020 was the Company presented these audited consolidated financial statements.

XML

Significant Events

6 Months Ended

Jan. 31, 2021

Significant Events

Significant Events

19. SIGNIFICANT EVENTS

During the fiscal year, the World Health Organization declared the Coronavirus (COVID-19) outbreak to be a pandemic, which has caused severe global social and economic disruptions and uncertainties, including markets where the Company operates. The consequences brought about by Covid-19 continue to evolve and whilst the Company actively monitoring and managing its operations to respond to these changes, the Company does not consider it practicable to provide any quantitative estimate on the potential impact it may have on the Company.

XML

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jan. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation

Basis of presentation

The accompanying condensed consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).

The Company has adopted its fiscal year-end to be July 31.

Basis of Consolidation

Basis of consolidation

The condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All inter-company accounts and transactions have been eliminated upon consolidation.

Use of Estimates

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Revenue Recognition

Revenue recognition

In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition”, the Company recognizes revenue from sales of goods when the following four revenue criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) selling price is fixed or determinable; and (4) collectability is reasonably assured.

Revenue is measured at the fair value of the consideration received or receivable, net of discounts and taxes applicable to the revenue. The Company derives its revenue from provision of wellness and beauty services to customers via Company owned outlets, franchised outlets or distribution of our product to third party wellness and beauty salon.

Cost of Revenue

Cost of revenue

Cost of revenue includes the cost of services and product incurred to provide wellness and beauty services and purchase of products.

Cash and Cash Equivalents

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

Property, Plant and Equipment

Property, Plant and equipment

Property, Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Categories	Estimated useful life
Leasable equipment	5 years
Computer hardware and software	3 years
Office equipment	3 years

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the statement of operations.

Leases

Leases

Prior to November 1, 2019, the Company accounted for leases under ASC 840, Accounting for Leases. Effective November 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. The implementation of ASC 842 did not have a material impact on the Company’s consolidated financial statements and did not have a significant impact on our liquidity. The Company adopted ASC 842 using a modified retrospective approach. As a result, the comparative financial information has not been updated and the required disclosures prior to the date of adoption have not been updated and continue to be reported under the accounting standards in effect for those periods. (see Note 4 ).

Inventories

Inventories

Inventories consisting of products available for sell, are stated at the lower of cost or market value. Cost of inventory is determined using the first-in, first-out (FIFO) method. Inventory reserve is recorded to write down the cost of inventory to the estimated market value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased. Write downs are recorded in cost of revenues in the Condensed Consolidated Statements of Operations and Comprehensive Income.

Going Concern

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the period ended January 31, 2021, the Company incurred a net loss of $237,767 and has generated revenue of $41,076. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

Income Taxes

Income taxes

Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

The Company conducts major businesses in China and is subject to tax in this jurisdiction. As a result of its business activities, the Company will file tax returns that are subject to examination by the foreign tax authority.

Net Loss Per Share

Net loss per share

The Company calculates net loss per share in accordance with ASC Topic 260 “Earnings per share”. Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive.

Foreign Currencies Translation

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income.

The reporting currency of the Company and its subsidiary is United States Dollars (“US$”) and the accompanying financial statements have been expressed in US$.

In general, for consolidation purposes, assets and liabilities of its subsidiary whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity.

Translation of amounts from RMB and HK$ into US$1 has been made at the following exchange rates for the respective periods:

	As of and for the six months ended January 31
	2021		2020
Period-end RMB : US$1 exchange rate		6.4256		6.937
Period-average RMB : US$1 exchange rate		6.6675		7.037
Period-end HKD$ : US$1 exchange rate		7.7532		7.766
Period-average HKD$ : US$1 exchange rate		7.7517		7.821

Related Parties

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair Value of Financial Instruments

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: cash and cash equivalents, account receivables, amount due to a director, and accounts payable and approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent Accounting Pronouncements

Recent accounting pronouncements

ASB issues various Accounting Standards Updates relating to the treatment and recording of certain accounting transactions. On June 10, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) Elimination of Certain Financial Reporting Requirements, including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) entirely from current accounting guidance. The Company has elected adoption of this standard, which eliminates the designation of DSEs and the requirement to disclose results of operations and cash flows since inception.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

XML

Description of Business and Organization (Tables)

6 Months Ended

Jan. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Company's Subsidiary

Details of the Company’s subsidiary:

	Company name	Place and date of incorporation	Particulars of issued capital	Principal activities
1.	MU Worldwide Group Limited	Seychelles, June 7, 2018	100 share of ordinary share of US$1 each	Investment holding
2.	MU Global Holding Limited	Hong Kong, January 30, 2018	1 ordinary share of HKD$1	Providing SPA and Wellness service in Hong Kong
3.	MU Global Health Management	Shanghai, August 16, 2018	RMB 7,400,300	Providing SPA and Wellness service in China

XML

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jan. 31, 2021

Accounting Policies [Abstract]

Schedule of Property, Plant and Equipment Estimated Life

Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

Categories	Estimated useful life
Leasable equipment	5 years
Computer hardware and software	3 years
Office equipment	3 years

Schedule of Foreign Exchange Rates Translation

Translation of amounts from RMB and HK$ into US$1 has been made at the following exchange rates for the respective periods:

	As of and for the six months ended January 31
	2021		2020
Period-end RMB : US$1 exchange rate		6.4256		6.937
Period-average RMB : US$1 exchange rate		6.6675		7.037
Period-end HKD$ : US$1 exchange rate		7.7532		7.766
Period-average HKD$ : US$1 exchange rate		7.7517		7.821

XML

Property, Plant and Equipment (Tables)

6 Months Ended

Jan. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment as of January 31, 2021 and July 31, 2020 are summarized below:

	As of January 31, 2021 (Unaudited)			As of July 31, 2020 (Audited)
Leasehold improvement	$	-		$	148,982
Computer hardware and software		129,301			129,301
Outlet equipment		100,686			100,686
Leasable equipment		216,382			223,560
Application development		37,413			37,413
Outlet Design Fee and Equipment1		16,963			16,763
Total		500,745			656,705
Accumulated depreciation	$	(238,548	)	$	(220,001	)
Foreign currency translation adjustment		29,709			(7,443	)
Property, plant and equipment, net	$	291,906		$	429,261

¹Outlet design fee is fee incurred for the outlet design concept to be follow by all the outlets or shops under the Company so to be a signage outlets of the company. As of January 31, 2021, the outlet design has not yet completed, therefore no depreciation has been provided.

²App development fee is fee incurred for the design and development of the mobile App for the Company. As of January 31, 2021, the app development has not yet completed, therefore no depreciation has been provided.

³ During the period ended January 31, 2021, 5 units of leasable equipment amounted to $7,178 disposed at a net asset value of $5,622 and generate a gain on disposal of $6,489.

⁴ Depreciation expense for the six month period ended January 31, 2021 and January 31, 2020 was 84,037 and 80,196 respectively

Schedul of Write Off of Property and Equipment

WRITE OFF OF PROPERTY AND EQUIPMENT

	January 31, 2021			July 31, 2020
Write off of property and equipment	$	148,982		$	-
Accumulated depreciation		(80,677	)		-
Total Write off of property and equipment	$	68,305		$	-

XML

Lease (Tables)

6 Months Ended

Jan. 31, 2021

Leases [Abstract]

Schedule of Recognition of Operating Lease Right and Lease Liability

The initial recognition of operating lease right and lease liability as follow:

Gross lease payable	$	21,370
Less: imputed interest		(826	)
Initial recognition as of November 1, 2020	$	20,544

Schedule of Operating Lease Right of Use Asset

As of January 31, 2021 operating lease right of use asset as follow:

Initial recognition as of November 1, 2020	$	20,544
Accumulated amortization		(2,476	)
Balance as of January 31, 2021	$	18,068

Schedule of Operating Lease Liability

As of January 31, 2021, operating lease liability as follow:

Initial recognition as of November 1, 2020	$	20,544
Less: gross repayment		(2,671	)
Add: imputed interest		195
Balance as of January 31, 2021	$	18,068
Less: lease liability current portion		(10,164	)
Lease liability non-current portion	$	7,904

Schedule of Maturities of Operating Lease Obligation

Maturities of operating lease obligation as follow:

Year ending
July 31, 2021 (6 months)	$	5,029
July 31, 2022 (12 months)		10,377
October 31, 2022 (3 months)		2,662
Total	$	18,068

Schedule of Other Information

Other information:

	Six months ended January 31,
	2021			2020
	(unaudited)			(unaudited)
Cash paid for amounts included in the measurement of lease liabilities:		-			-
Operating cash flow from operating lease	$	20,847		$	13,565
Right-of-use assets obtained in exchange for operating lease liabilities		18,068			235,635
Remaining lease term for operating lease (years)		1.75			3.75
Weighted average discount rate for operating lease		4.15	%		4.15	%

XML

Trademark (Tables)

6 Months Ended

Jan. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Trademark

	As of January 31, 2021 (Unaudited)			As of July 31, 2020 (Audited)
Trademark1	$	28,138		$	28,138
Accumulated amortization		(3,638	)		(2,359	)
Total trademark	$	24,500		$	25,779

1The trademarks are held under the company’s subsidiaries in Hong Kong and Shanghai, China. Amortization trademark for during the three and six months ended January 31, 2021 was $640 and $1,411

XML

Prepayments and Deposits (Tables)

6 Months Ended

Jan. 31, 2021

Prepayments And Deposits

Schedule of Prepayments and Deposits

Prepayments and deposits consisted of the following at January 31, 2021 and July 31, 2020:

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Deposits	$	60,347	$	66,388
Prepaid expenses		39,061		47,075
Total prepaid expenses and deposits	$	99,408	$	113,463

XML

Inventories (Tables)

6 Months Ended

Jan. 31, 2021

Inventory Disclosure [Abstract]

Schedule of Inventories

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Finished goods, at cost	$	46,678	$	51,798
Total inventories	$	46,678	$	51,798

XML

Due from Related Parties (Tables)

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Schedule of Due from Related Parties

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Tien Mu International Co., Ltd1	$	16,530	$	12,920
Total	$	16,530	$	12.920

¹ Tien Mu International Co., Ltd is owned by Yen-Yen Niu, the director and chief executive officer of the Company. Tien Mu is the operating agent of the Company in Taiwan’s operation and collects the deposit from franchisee on behalf of the company.

XML

Other Payables and Accrued Liabilities (Tables)

6 Months Ended

Jan. 31, 2021

Payables and Accruals [Abstract]

Schedule of Other Payables and Accrued Liabilities

Other payables and accrued liabilities consisted of the following at January 31, 2021 and July 31, 2020:

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Accrued audit fees	$	21,100	$	14,000
Accrued professional fees		7,500		5,000
Other payable and accrued liabilities		86,329		38,643
Total payables and accrued liabilities	$	114,929	$	57,643

XML

Due to Related Parties (Tables)

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Schedule of Due to Related Parties

	As of January 31, 2021 (Unaudited)		As of July 31, 2020 (Audited)
Wu, Chun-Teh1	$	42,412	$	39,066
Hsieh, Chang-Chung2		-		46,076
	$	42,412	$	85,142

¹Wu, Chun-Teh is a shareholder of the Company, at the same time providing consultation services to the Company and also staff of the company have paid company operation expenses such as renovation cost, rental and staff salaries on behalf of Company.

²Hsieh, Chang-Chung is Chief Financial Officer (“Principal Financial Officer”, “Principal Accounting Officer”) of the company, and the amount represents the consultancy fee accrued.

XML

Loan from Director (Tables)

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Schedule of Loan from Director

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Loan from Niu Yen-Yen	$	275,395	$	176,097
Total	$	275,395	$	176,097

XML

Loan from Related Party (Tables)

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Schedule of Loan from Related Party

	As of		As of
	January 31, 2021 (Unaudited)		July 31, 2020 (Audited)
Hong Ting Network Technology (Xiamen) Limited1	$	52,913	$	48,739
Total	$	52,913	$	48,739

¹Hong Ting Network Technology (Xiamen) Limited is wholly owned and managed by Ms Yen-Yen Niu, the CEO and director of the company. The loan is unsecured, interest-free and repayable in May 31,2020 and further extended to May 31, 2021 with a loan agreement entered on June 1, 2020.

XML

Income Taxes (Tables)

6 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Loss Before Income Tax

For the Six Months Ended January 31, 2021, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following:

	Six Months Ended January 31,
	2021			2020
Tax jurisdictions from:
Local	$	(16,144	)		(20,346	)
Foreign, representing
- Seychelles		-			-
- Hong Kong	$	(39,887	)		(62,921	)
- Shanghai	$	(181,736	)		(228,830	)
Loss before income tax	$	(237,767	)		(312,097	)

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following:

	For the period ended January 31, 2021		For the year ended January 31, 2020
Current:
- Local	$	-	$	-
- Foreign		-		-
Deferred:
- Local		-		-
- Foreign		-		-
Income tax expense	$	-	$	-

XML

Commitments and Contingencies (Tables)

6 Months Ended

Jan. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Aggregate Minimal Rent Payments

As of January 31, 2020, the Company has the aggregate minimal rent payments due in the next 5 years as follows:

2020	$	1,710
2021	$	10,259
2022	$	8,555
2023	$	8,549
Total	$	29,073

XML

Related Party Transactions (Tables)

6 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Schedule of Outstanding Payable to Related Party

For the period ended January 31, 2021 the Company has following transactions with related parties:

	For the period ended January 31, 2021 (Unaudited)		For the year ended January 31, 2020 (Unaudited)
Professional fee paid:
- Related party A	$	2,500	$	12,000
Consultation fee paid:
- Related party B	$	4,500	$	17,400
- Related party C	$	8,100	$	43,530
Total	$	15,100	$	72,930

XML

Description of Business and Organization (Details Narrative)	Jun. 29, 2018
MU Worldwide Group Limited [Member]
Acquired interest for private limited liability	100.00%

XML

Description of Business and Organization - Schedule of Company's Subsidiary (Details)	6 Months Ended
	Jan. 31, 2021
MU Worldwide Group Limited [Member]
Place and date of incorporation	Seychelles, June 7, 2018
Particulars of issued capital	100 share of ordinary share of US$1 each
Principal activities	Investment holding
MU Global Holding Limited [Member]
Place and date of incorporation	Hong Kong, January 30, 2018
Particulars of issued capital	1 ordinary share of HKD$1
Principal activities	Providing SPA and Wellness service in Hong Kong
MU Global Health Management [Member]
Place and date of incorporation	Shanghai, August 16, 2018
Particulars of issued capital	RMB 7,400,300
Principal activities	Providing SPA and Wellness service in China

XML

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jan. 31, 2020	Oct. 31, 2019	Jan. 31, 2021	Jan. 31, 2020
Accounting Policies [Abstract]
Income tax description for likelihood					Tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.
Net loss	$ (141,166)	$ (96,601)	$ (119,761)	$ (192,336)	$ (237,767)	$ (312,097)
Revenue	$ 19,381		$ 65,141		$ 41,076	$ 92,311

XML

Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment Estimated Life (Details)	6 Months Ended
	Jan. 31, 2021
Leasable Equipment [Member]
Estimated useful life	5 years
Computer Hardware and Software [Member]
Estimated useful life	3 years
Office Equipment [Member]
Estimated useful life	3 years

XML

Summary of Significant Accounting Policies - Schedule of Foreign Exchange Rates Translation (Details)	Jan. 31, 2021	Jan. 31, 2020
Period-end RMB : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	6.4256	7.037
Period-average RMB : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	6.6675	6.937
Period-end HKD$ : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	7.7532	7.766
Period-average HKD$ : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	7.7517	7.821

XML

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)		Jan. 31, 2021	Jul. 31, 2020	Jan. 31, 2020
Total		$ 500,745	$ 656,705
Accumulated depreciation		(238,548)	(220,001)
Foreign currency translation adjustment		29,709	(7,443)
Property, plant and equipment, net		291,906	429,261
Leasehold Improvement [Member]
Total			148,982
Computer Hardware and Software [Member]
Total		129,301	129,301
Office Equipment [Member]
Total		100,686	100,686
Leasable Equipment [Member]
Total		216,382	223,560
Application Development [Member]
Total		37,413		$ 37,413
Outlet Design Fee and Equipment [Member]
Total	[1]	$ 16,963	$ 16,763

[1] Outlet design fee is fee incurred for the outlet design concept to be follow by all the outlets or shops under the Company so to be a signage outlets of the company. As of January 31, 2021, the outlet design has not yet completed, therefore no depreciation has been provided.

XML

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) (Parenthetical) - USD ($)	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020
Equipment net asset, value	$ 291,906		$ 429,261
Gain on disposal of equipment	6,489
Property, Plant and Equipment [Member]
Depreciation expense	84,037	$ 80,196
Outlet Design Fee and Equipment [Member]
Depreciation expense
Application Development Fee [Member]
Depreciation expense
5 Units of Leasable Equipment [Member]
Equipment disposed, value	7,178
Equipment net asset, value	5,622
Gain on disposal of equipment	$ 6,489

XML

Property, Plant and Equipment - Schedul of Write Off of Property and Equipment (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Write off of property and equipment	$ 148,982
Accumulated depreciation	(80,677)
Total Write off of property and equipment	$ 68,305

XML

Lease (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2021	Jan. 31, 2021	Nov. 02, 2020	Jul. 31, 2020	Feb. 02, 2020	Jan. 31, 2020
Lease liability right-of-use asset	$ 18,068	$ 18,068	$ 18,068		$ 198,514	$ 20,544	$ 235,635
Lease discounted rate	4.15%	4.15%	4.15%				4.15%
Amortization of operating lease right of use asset		$ 17,359	$ 2,476
Lease expenses	$ 2,476	$ 19,421
Adopted ASC 842 [Member]
Lease liability right-of-use asset				$ 19,724
Lease discounted rate				4.15%

XML

Lease - Schedule of Recognition of Operating Lease Right and Lease Liability (Details)	Jan. 31, 2021 USD ($)
Leases [Abstract]
Gross lease payable	$ 21,370
Less: imputed interest	(826)
Initial recognition as of November 1, 2020	$ (20,544)

XML

Lease - Schedule of Operating Lease Right of Use Asset (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2021
Leases [Abstract]
Initial recognition as of November 1, 2020	$ 198,514	$ 20,544
Accumulated amortization	(17,359)	(2,476)
Balance as of January 31, 2021	$ 18,068	$ 18,068

XML

Lease - Schedule of Operating Lease Liability (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Leases [Abstract]
Initial recognition as of November 1, 2020	$ 20,544
Less: gross repayment	(2,671)
Add: imputed interest	195
Balance as of January 31, 2021	18,068
Less: lease liability current portion	(10,164)
Lease liability non-current portion	$ 7,904	$ 148,431

XML

Lease - Schedule of Maturities of Operating Lease Obligation (Details) - Operating Lease Obligation [Member]	Jan. 31, 2021 USD ($)
July 31, 2021 (6 months)	$ 5,029
July 31, 2022 (12 months)	10,377
October 31, 2022 (3 months)	2,662
Total	$ 18,068

XML

Lease - Schedule of Other Information (Details) - USD ($)	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jul. 31, 2020	Feb. 02, 2020
Leases [Abstract]
Operating cash flow from operating lease	$ 20,847	$ 13,565
Right-of-use assets obtained in exchange for operating lease liabilities	$ 18,068	$ 235,635	$ 198,514	$ 20,544
Remaining lease term for operating lease (years)	1 year 9 months	3 years 9 months
Weighted average discount rate for operating lease	4.15%	4.15%

XML

Trademark - Schedule of Trademark (Details) - USD ($)		Jan. 31, 2021	Jul. 31, 2020
Total trademark		$ 334,474	$ 653,554
Trademarks [Member]
Trademark	[1]	28,138	28,138
Accumulated amortization		(3,638)	(2,359)
Total trademark		$ 24,500	$ 25,779

[1] The trademarks are held under the company's subsidiaries in Hong Kong and Shanghai, China. Amortization trademark for during the three and six months ended January 31, 2021 was $640 and $1,411

XML

Trademark - Schedule of Trademark (Details) (Parenthetical) - USD ($)	3 Months Ended	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2021
Trademarks [Member]
Amortization	$ 640	$ 1,411

XML

Prepayments and Deposits - Schedule of Prepayments and Deposits (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Prepayments And Deposits
Deposits	$ 60,347	$ 66,388
Prepaid expenses	39,061	47,075
Total prepaid expenses and deposits	$ 99,408	$ 113,463

XML

Common Stock (Details Narrative) - USD ($)											3 Months Ended	4 Months Ended
	May 07, 2019	Jul. 31, 2018	Jul. 26, 2018	Jul. 25, 2018	Jul. 11, 2018	Jul. 10, 2018	Jul. 09, 2018	Jul. 07, 2018	Jul. 06, 2018	Jun. 04, 2018	Jul. 31, 2019	Dec. 13, 2018	Jan. 31, 2021	Jul. 31, 2020
Common stock, shares issued													59,434,838	59,434,838
Common stock, shares outstanding													59,434,838	59,434,838
GreenPro Asia Strategic SPC and GreenPro Venture Capital Limited [Member]
Share issued price per shares							$ 0.0001
Number of restricted common stock issued, value							$ 500
Server Int'l Co., Ltd [Member]
Number of restricted common stock issued									11,000,000
GreenPro Asia Strategic SPC [Member]
Number of restricted common stock issued							2,835,000
GreenPro Venture Capital Limited [Member]
Number of restricted common stock issued							2,165,000
Dezign Format Pte Ltd [Member]
Number of restricted common stock issued		2,000,000
Ms. Niu Yen-Yen [Member]
Number of restricted common stock issued									25,000,000	100,000
Share issued price per shares										$ 0.0001
Number of restricted common stock issued, value										$ 10
Ms. Niu Yen-Yen [Member] | Server Int'l Co., Ltd [Member]
Share issued price per shares									$ 0.0001
Number of restricted common stock issued, value									$ 3,600
Chang Chun-Ying [Member]
Number of restricted common stock issued								4,300,000
Chang Su-Fen [Member]
Number of restricted common stock issued								5,000,000
Chang Chun-Ying and Chang Su-Fen [Member]
Share issued price per shares								$ 0.0001
Number of restricted common stock issued, value								$ 930
Three Non-US Residents [Member]
Number of restricted common stock issued						2,150,000
Share issued price per shares						$ 0.0001
Number of restricted common stock issued, value						$ 215
Two Non-US Residents [Member]
Number of restricted common stock issued					710,000
Share issued price per shares					$ 0.03
Number of restricted common stock issued, value					$ 21,300
Ten Non-US Residents [Member]
Number of restricted common stock issued				995,000
Share issued price per shares				$ 0.03
Number of restricted common stock issued, value				$ 29,850
One Non-US Residents [Member]
Number of restricted common stock issued			250,000
Share issued price per shares			$ 0.20
Number of restricted common stock issued, value			$ 50,000
Cheng Young-Chien [Member]
Number of restricted common stock issued		2,000,000
Cheng Young-Chien [Member] | Dezign Format Pte Ltd [Member]
Share issued price per shares		$ 0.20
Number of restricted common stock issued, value		$ 800,000
Eight Non-US Residents [Member] | Server Int'l Co., Ltd [Member]
Number of shares transferred						1,500,000
Sixteen Non-US Residents [Member] | Ms. Niu Yen-Yen [Member]
Number of shares transferred												1,557,800
45 Accredited Investors [Member]
Convertible promissory note issued on conversion	$ 779,125
Conversion price per share	$ 1
Convertible promissory note issued on conversion, shares	779,125
Thirty Six Non-US Residents [Member]
Share issued price per shares											$ 1.00
Number of common stock issued											150,317

XML

Inventories - Schedule of Inventories (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Inventory Disclosure [Abstract]
Finished goods, at cost	$ 46,678	$ 51,798
Total inventories	$ 46,678	$ 51,798

XML

Due from Related Parties - Schedule of Due from Related Parties (Details) - USD ($)		Jan. 31, 2021	Jul. 31, 2020
Total amount due from related party		$ 16,530	$ 12,920
Tien Mu International Co., Ltd [Member]
Total amount due from related party	[1]	$ 16,530	$ 12,920

[1] Tien Mu International Co., Ltd is owned by Yen-Yen Niu, the director and chief executive officer of the Company. Tien Mu is the operating agent of the Company in Taiwan's operation and collects the deposit from franchisee on behalf of the company.

XML

Other Payables and Accrued Liabilities - Schedule of Other Payables and Accrued Liabilities (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Payables and Accruals [Abstract]
Accrued audit fees	$ 21,100	$ 14,000
Accrued professional fees	7,500	5,000
Other payable and accrued liabilities	86,329	38,643
Total payables and accrued liabilities	$ 114,929	$ 57,643

XML

Due to Related Parties (Details Narrative) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Related Party Transactions [Abstract]
Amount due to related parties	$ 42,412	$ 85,142

XML

Due to Related Parties - Schedule of Due to Related Parties (Details) - USD ($)		Jan. 31, 2021	Jul. 31, 2020
Due to related parties		$ 42,412	$ 85,142
Wu, Chun-Teh [Member]
Due to related parties	[1]	42,412	39,066
Hsieh, Chang-Chung [Member]
Due to related parties	[2]		$ 46,076

[1] Wu, Chun-Teh is a shareholder of the Company, at the same time providing consultation services to the Company and also staff of the company have paid company operation expenses such as renovation cost, rental and staff salaries on behalf of Company.

[2] Hsieh, Chang-Chung is Chief Financial Officer ("Principal Financial Officer", "Principal Accounting Officer") of the company, and the amount represents the consultancy fee accrued.

XML

Loan from Director - Schedule of Loan from Director (Details) - USD ($)	Jan. 31, 2021	Jul. 31, 2020
Total	$ 275,395	$ 176,097
Loan from Niu Yen-Yen [Member]
Total	$ 275,395	$ 176,097

XML

Loan from Related Party - Schedule of Loan from Related Party (Details) - USD ($)		Jan. 31, 2021	Jul. 31, 2020
Total		$ 52,913	$ 48,739
Hong Ting Network Technology (Xiamen) Limited [Member]
Total	[1]	$ 52,913	$ 48,739

[1] Hong Ting Network Technology (Xiamen) Limited is wholly owned and managed by Ms Yen-Yen Niu, the CEO and director of the company. The loan is unsecured, interest-free and repayable in May 31,2020 and further extended to May 31, 2021 with a loan agreement entered on June 1, 2020.

XML

Income Taxes (Details Narrative)	6 Months Ended
	Jan. 31, 2021 USD ($)
Cumulative net operating losses carryforwards	$ 351,909
Valuation allowance	$ 281,527
Hong Kong [Member]
Statutory income tax rate	16.50%
People's Republic of China (PRC) [Member]
Statutory income tax rate	25.00%
Maximum [Member]
Future taxable income percentage	80.00%

XML

Income Taxes - Schedule of Loss Before Income Tax (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Local			$ (16,144)	$ (20,346)
Loss before income tax	$ (141,166)	$ (119,761)	(237,767)	(312,097)
Seychelles [Member]
Foreign
Hong Kong [Member]
Foreign			(39,887)	(62,921)
Shanghai [Member]
Foreign			$ (181,736)	$ (228,830)

XML

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020
Income Tax Disclosure [Abstract]
Current - Local
Current - Foreign
Deferred - Local
Deferred - Foreign
Income tax expense

XML

Commitments and Contingencies (Details Narrative) - Rental Agreement [Member] - Shanghai [Member]	6 Months Ended
	Jan. 31, 2021	Nov. 02, 2020
Rental agreement term		2 years
Lease description	On November 1, 2020, the company entered into a contract rental agreement to rent the office in Shanghai for a period of 2 years commencing November 1, 2020

XML

Commitments and Contingencies - Schedule of Aggregate Minimal Rent Payments (Details) - Rental Agreement [Member]	Jan. 31, 2021 USD ($)
2020	$ 1,710
2021	10,259
2022	8,555
2023	8,549
Total	$ 29,073

XML

Related Party Transactions (Details Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Related Party A [Member]
Professional fees	$ 2,500	$ 12,000

XML

Related Party Transactions - Schedule of Outstanding Payable to Related Party (Details) - USD ($)	6 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Total	$ 15,100	$ 72,930
Related Party A [Member]
Professional fee	2,500	12,000
Related Party B [Member]
Consultation fee	4,500	17,400
Related Party C [Member]
Consultation fee	$ 8,100	$ 43,530