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 April 30, 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 April 30, 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 April 30, 2021 (unaudited) and July 31, 2020 (audited)	F-2
	Condensed Consolidated Statements of Operations and Comprehensive Losses for the Three and Nine months Ended April 30, 2021 (unaudited) and April 30, 2020 (unaudited)	F-3
	Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Nine months Ended April 30, 2021 (unaudited) and 2020 (unaudited)	F-4
	Condensed Consolidated Statements of Cash Flows for the Nine months Ended April 30, 2021 (unaudited) and April 30, 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	3-5
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	6
ITEM 4.	CONTROLS AND PROCEDURES	6
PART II	OTHER INFORMATION
ITEM 1	LEGAL PROCEEDINGS	7
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	7
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	7
ITEM 4	MINE SAFETY DISCLOSURES	7
ITEM 5	OTHER INFORMATION	7
ITEM 6	EXHIBITS	8
	SIGNATURES	9

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 April 30, 2021 (unaudited) and July 31, 2020 (audited)	F-2
Condensed Consolidated Statements of Operations and Comprehensive Losses for the Three and Nine months Ended April 30, 2021 (unaudited) and April 30, 2020 (unaudited)	F-3
Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Nine months Ended April 30, 2021 (unaudited) and 2020 (unaudited)	F-4
Condensed Consolidated Statements of Cash Flows for the Nine months Ended April 30, 2021 (unaudited) and April 30, 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 APRIL 30, 2021 AND JULY 31, 2020

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

	As of			As of
	April 30, 2021			July 31, 2020
	Unaudited			Audited
ASSETS
NON CURRENT ASSETS
Property, plant and equipment	$	250,536		$	429,261
Leased asset- Right of use		15,450			198,514
		265,986			627,775
INTANGIBLE ASSET
Trademark	$	23,781		$	25,779
		289,767			653,554
CURRENT ASSETS
Cash and cash equivalents	$	10,659		$	11,670
Other receivables		-			193
Prepayments and deposits		95,857			113,463
Amount due from related parties		14,024			12,920
Inventories		46,206			51,798
Total Current Assets	$	166,746		$	190,044
TOTAL ASSETS		456,513			843,598
LIABILITIES AND STOCKHOLDERS’ EQUITY
NON-CURRENT LIABILITY
Leased liability	$	5,257		$	148,431
Total Non-Current Liability		5,257			148,431
CURRENT LIABILITIES
Loan from director		274,369			176,097
Leased liabilities		10,193			58,796
Loan from related party		52,517			48,739
Other payables and accrued liabilities		107,640			57,643
Amount due to related parties		42,094			85,142
Deposit from franchisee		35,807			42,624
Deposit from customers		40,932			38,148
Total Current Liabilities	$	563,552		$	507,189
TOTAL LIABILITIES	$	568,809		$	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 April 30, 2021 and July 31, 2020	$	5,943		$	5,943
Additional paid in capital		1,830,300			1,830,300
Foreign currency adjustment		2,335			(3,361	)
Accumulated deficit		(1,950,874	)		(1,644,904	)
TOTAL STOCKHOLDERS’ EQUITY	$	(112,296	)	$	187,978
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	456,513		$	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 NINE MONTHS ENDED APRIL 30, 2021 and 2020

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

(Unaudited)

	Three Months Ended April 30,						Nine months Ended April 30,
	2021			2020			2021			2020
REVENUE	$	5,500		$	2,216		$	46,576		$	94,527
COST OF REVENUE		(51	)		(4,977	)		(9,607	)		(12,342	)
GROSS PROFIT/(LOSS)	$	5,449		$	(2,761	)	$	36,969		$	82,185
OTHER INCOME		5,227			1,698			30,214			6,970
SELLING AND MARKETING EXPENSES		-			(1,768	)		-			(19,490	)
GENERAL AND ADMINISTRATIVE EXPENSES		(78,879	)		(178,832	)		(373,153	)		(563,425	)
LOSS BEFORE INCOME TAX	$	(68,203	)	$	(181,663	)	$	(305,970	)	$	(493,760	)
INCOME TAX PROVISION		-			-			-			-
NET LOSS	$	(68,203	)	$	(181,663	)	$	(305,970	)	$	(493,760	)
Other comprehensive income/(expense):
- Foreign currency translation gain/(loss)		3,569			(5,948	)		5,696			(14,097	)
TOTAL COMPREHENSIVE LOSS	$	(64,634	)	$	(187,611	)	$	(300,274	)		(507,857	)
Net loss per share- Basic and diluted		(0.0011	)		(0.0003	)		(0.0051	)		(0.0085	)
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 NINE MONTHS ENDED APRIL 30, 2021 AND 2020

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

(Unaudited)

Nine months Ended April 30, 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	)
Net loss for the period		-		-		-		-			(68,203	)		(68,203	)
Foreign currency translation adjustment		-		-		-		3,569			-			3,569
Balance as of April 30, 2021		59,434,838		5,943		1,830,300		2,335			(1,950,874	)		(112,296	)

Nine months Ended April 30, 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 (Unaudited)		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
Net loss for the period		-		-		-		-			(181,663	)	$	(181,663	)
Foreign currency translation adjustment		-		-		-		(5,948	)		-			(5,948	)
Balance as of April 30, 2020 (Unaudited)		59,434,838	$	5,943	$	1,830,300	$	(5,370	)	$	(1,469,756	)	$	361,117

See accompanying notes to condensed consolidated financial statements.

F-4

MU GLOBAL HOLDING LIMITED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE AND NINE MONTHS ENDED APRIL 30, 2021 and 2020

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

(Unaudited)

	Nine months Ended April 30,
	2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(305,970	)	$	(493,760	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		143,867			138,135
Asset Write-off		74,458			4,264
Reversal on Termination of Leased Asset		(6,507	)		-
Gain on Disposal		(11,840	)		-
Changes in operating assets and liabilities:
Other receivables		194			(4,267	)
Prepayments and Deposits		22,123			46,271
Trade payable		-			5,599
Other payables and accrued liabilities		(21,642	)		(4,160	)
Inventories		9,607			(4,457	)
Amount due to related party		-			(6,030	)
Amount due from related party		(1,104	)		(30,164	)
Leased liabilities		(23,173	)		(27,069	)
Deposit from customer		(5,933	)		14,157
Deposit from franchisee		(3,360	)		15,533
Net cash used in operating activities	$	(129,280	)	$	(345,948	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceed on disposal of property, plant and equipment	$	20,565		$	-
Purchase of trademark		-			(26,394	)
Purchase of property, plant and equipment		-			(181,099	)
Net cash generate from/(used in) investing activities	$	20,565		$	(207,493	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan from director	$	88,492		$	136,223
Loan from related party		22,567			42,471
Net cash provided by financing activities	$	111,059		$	178,694
Effect of exchange rate changes on cash and cash equivalents		(3,355	)		(4,082	)
Net change in cash and cash equivalents		(1,011	)		(378,829	)
Cash and cash equivalents, beginning of period		11,670			394,403
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	10,659		$	15,574
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 NINE MONTHS ENDED APRIL 30, 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 NINE MONTHS ENDED APRIL 30, 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

Financial Accounting Standards Board, or FASB, issued ASC 606. The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services.

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
Outlet equipment	3 years
Outlet design	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.

Impairment of long-live assets

Long-lived assets primarily include trademark of the company. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented.

F-7

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED APRIL 30, 2021

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

(UNAUDITED)

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. (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.

F-8

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED APRIL 30, 2021

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

(UNAUDITED)

Going concern

The accompanying financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

For the period ended April 30, 2021, the Company has generated revenue of $46,576 and continuously incurred a net loss of $305,970. As of April 30, 2021, the Company suffered an accumulated deficit of $1,950,874. In addition, the company is also having net current liability of $396,806. The Company’s ability to continue as a going concern is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due.

These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

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 functional currency of the parent Company is United States dollar and the functional currency of the subsidiaries MU Worldwide Group Limited (Syechell) and MU Global Holding Limited (Hong Kong) is United States dollar. MU Global Health Management (Shanghai) Limited is in Renminbi.

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.

Foreign currencies translation (cont’d)

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

	As of and for the nine months ended April 30
	2021		2020
Period-end RMB : US$1 exchange rate		6.474		7.064
Period-average RMB : US$1 exchange rate		6.623		7.035
Period-end HKD$ : US$1 exchange rate		7.766		7.751
Period-average HKD$ : US$1 exchange rate		7.755		7.802
Period-end TWD: US$1 exchange rate		27.924		29.763
Period-average TWD: US$1 exchange rate		28.498		30.468

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 NINE MONTHS ENDED APRIL 30, 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

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 NINE MONTHS ENDED APRIL 30, 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 April 30, 2021 and July 31, 2020 are summarized below:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Leasehold improvement	$	-		$	148,982
Computer hardware and software		129,301			129,301
Outlet equipment		100,686			100,686
Leasable equipment		211,719			223,560
Application development		37,413			37,413
Outlet Design Fee and Equipment		16,963			16,673
Total		496,082			656,705
Accumulated depreciation	$	(269,871	)	$	(220,001	)
Foreign currency translation adjustment		24,325			(7,443	)
Property, plant and equipment, net	$	250,536		$	429,261

Depreciation expense for the nine month period ended April 30, 2021 is $124,051.

WRITE OFF OF PROPERTY, PLANT AND EQUIPMENT

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Write off of property and equipment	$	148,982		$	-
Accumulated depreciation		(80,677	)		-
Foreign currency translation adjustment		6,153			-
Total Write off of property and equipment	$	74,458		$	-

DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT

	As of April 30, 2021 (unaudited)			As of July 31, 2020 (audited)
Proceed from disposal of property, plant and equipment	$	20,565		$	-
Disposal of equipment at cost		(11,821	)		-
Accumulated depreciation		3,096			-
Total gain on disposal	$	11,840		$	-

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 October 31, 2020, the Company had terminate the leased asset which has been recognize on November 1, 2019. Thereafter 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:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Gross lease payable	$	21,370		$	271,328
Less: imputed interest		(826	)		(21,228	)
Initial recognition as of November 1, 2020 and 2019	$	20,544		$	250,100

As April 30, 2021 and July 31, 2020 operating lease right of use asset as follow:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Initial recognition	$	250,100		$	250,100
Add: New Lease addition		20,544			-
Less: Termination of lease		(250,100	)		-
Balance		20,544			250,100
Foreign exchange translation loss		-			(9,351	)
Accumulated amortization		(5,094	)		(42,235	)
Balance as end of the year	$	15,450		$	198,514

F-11

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED APRIL 30, 2021

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

(UNAUDITED)

As April 30, 2021 and July 31, 2020 operating lease liability as follow:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Initial recognition	$	250,100		$	250,100
Add: New operating lease liability		20,544			-
Less: Termination of lease		(250,100	)		-
Less: Foreign exchange translation gain		-			(4,482	)
Less: gross repayment		(5,128	)		(43,254	)
Add: imputed interest		34			4,836
Balance		15,450			207,227
Less: lease liability current portion		(10,193	)		(58,796	)
Lease liability non-current portion	$	5,257		$	148,431

For the nine months ended April 30, 2021, the amortization of the operating lease right of use asset are $19,816.

Maturities of operating lease obligation as follow:

Year ending
July 31, 2021 (3 months)	$	2,411
July 31, 2022 (12 months)		10,377
October 31, 2022 (3 months)		2,662
Total	$	15,450

Other information:

	Nine months ended April 30,
	2021			2020
	(unaudited)			(unaudited)
Cash paid for amounts included in the measurement of lease liabilities:					-
Operating cash flow from operating lease	$	23,173		$	27,069
Right-of-use assets obtained in exchange for operating lease liabilities		15,450			217,065
Remaining lease term for operating lease (years)		1.5			3.75
Weighted average discount rate for operating lease		4.15	%		4.15	%

Lease expenses were $2,618 and $22,039 during the three and nine months ended April 30, 2021, respectively. The Company adopt ASC 842 on and after November 1, 2019

5. TRADEMARK

	As of April 30, 2021			As of July 31, 2020
	(Unaudited)			(Audited)
Trademark1	$	28,138		$	28,138
Accumulated amortization		(4,357	)		(2,359	)
Total trademark	$	23,781		$	25,779

¹The trademarks are held under the company’s subsidiaries in Hong Kong and Shanghai, China.

6. PREPAYMENTS AND DEPOSITS

Prepayments and deposits consisted of the following at April 30, 2021 and July 31, 2020:

	As of April 30, 2021		As of July 31, 2020
		(Unaudited)		(Audited)
Deposits	$	57,089	$	66,388
Prepaid expenses		38,768		47,075
Total prepaid expenses and deposits	$	95,857	$	113,463

F-12

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED APRIL 30, 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 April 30, 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 NINE MONTHS ENDED APRIL 30, 2021

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

(UNAUDITED)

8. INVENTORIES

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Finished goods, at cost	$	46,206	$	51,798
Total inventories	$	46,206	$	51,798

9. DUE FROM RELATED PARTIES

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Tien Mu International Co., Ltd1	$	14,024	$	12,920
Total	$	14,024	$	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 April 30, 2021 and July 31, 2020:

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Accrued audit fees	$	3,550	$	14,000
Accrued professional fees		1,250		5,000
Other payable and accrued liabilities		102,840		38,643
Total payables and accrued liabilities	$	107,640	$	57,643

F-14

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED APRIL 30, 2021

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

(UNAUDITED)

11. DUE TO RELATED PARTIES

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Wu, Chun-Teh1	$	42,094	$	39,066
Hsieh, Chang-Chung2		-		46,076
	$	42,094	$	85,142

As of April 30, 2021, the balance $42,094 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
	April 30, 2021		July 31, 2020
	(Unaudited)		(Audited)
Loan from Niu Yen-Yen	$	274,369	$	176,097
Total	$	274,369	$	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 April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Hong Ting Network Technology (Xiamen) Limited1	$	52,517	$	48,739
Total	$	52,517	$	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 2021.

14. INCOME TAXES

For the Nine months Ended April 30, 2021, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following:

	Nine months Ended April 30,
	2021			2020
Tax jurisdictions from:
Local	$	(26,644	)		(46,927	)
Foreign, representing
- Seychelles		-			-
- Hong Kong	$	(58,517	)		(120,104	)
- Shanghai	$	(220,809	)		(326,729	)
Loss before income tax	$	(305,970	)		(493,760	)

F-15

MU GLOBAL HOLDING LIMITED

NOTES TO CONDENSED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED APRIL 30, 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 April 30, 2021		For the year ended April 30, 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 April 30, 2021, the operations in the United States of America incurred $26,644 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 $21,315 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 NINE MONTHS ENDED APRIL 30, 2021

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

(UNAUDITED)

15. CONCENTRATIONS OF RISK

(a.)Major customers

For the period ended 30 April, 2021, there was no customer who accounted for 10% or more of the Company’s revenues nor with significant outstanding receivables.

(b.) Major suppliers

For the period ended 30 April, 2021, there was no supplier who accounted for 10% or more of the Company’s purchases nor with significant outstanding payable.

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

Balance as of April 30, 2021	$	15,450
Less: lease liability current portion		(10,193	)
Lease liability non-current portion	$	5,257

17. RELATED PARTY TRANSACTIONS

For the period ended April 30, 2021 the Company has following transactions with related parties:

	For the period ended April 30, 2021		For the year ended July 31, 2020
	(Unaudited)		(Audited)
Professional fee paid:
- Related party A	$	1,250	$	44,052
Consultation fee paid:
- Related party B	$	1,500	$	2,893
- Related party C	$	39,075	$	47,135
Total	$	41,825	$	94,080

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 April 30, 2021, the Company incurred professional fees of $1,250 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. SIGNIFICANT EVENTS

Imposition of lockdown and other restrictive measures

On 23 January 2020, the Chinese government imposed a lockdown in Wuhan and other cities in the province of Hubei in an effort to quarantine the center of an outbreak of COVID-19. The lockdown in the city of Wuhan has set a precedent to other cities, where other cities within the country has implemented respective restrictive measures, including outdoor restrictions and closed management of communities. Shanghai, where the Company primarily operates the business in, was put under closed managed communities on 10 February 2020. The Chinese economy did fully restart until April 2021.

Before the financial statements were made out, the Board of Directors had considered the impact of COVID-19 outbreak in China, which would have affected the financial position, performance and cash flow of the Company as ended on the reporting date thereon.

The Management concluded that the impact of non-adjusting events from the COVID-19 outbreak has not significantly affected the fair value of the financial assets or liabilities and non-financial assets of the Company, including the classification of current and non-current items that were presented on the reporting date.

19. 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 July 31, 2020 up through the date April 30, 2021 was the Company presented these audited consolidated financial statements.

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, 2020, for the period ended April 30, 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, 2020, 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 nine months ended April 30, 2021 and 2020

Revenues

For the nine months ended April 30, 2021 and 2020, the Company has generated revenue of $46,576 and $94,527 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 nine months ended April 30, 2021 and 2020, cost incurred arise in providing wellness and beauty services is $9,607 and $12,342 respectively, and generate a Gross profits for the nine months ended April 30, 2021 and 2020 of $36,969 and $$82,185.

Selling and marketing expenses

For the nine months ended April 30, 2021 and 2020, we had no incurred marketing expenses on April 30, 2021 and incurred amount of $19,490 on April 30, 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 nine months ended April 30, 2021 and 2020, we had incurred general and administrative expenses in the amount of $373,153 and $563,425 respectively. 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 $30,214 and $6,970 as other income for the nine months ended April 30, 2021 and 2020. This income is derived from gain on disposal, foreign exchange and interest income.

Net Loss

Our net loss for nine months ended April 30, 2021 and 2020 were $305,970 and $493,760. The net loss mainly derived from the general and administrative expenses incurred.

4

Liquidity and Capital Resources

As of April 30, 2021 and 2020, we had cash and cash equivalents of $10,659 and $15,574 respectively. We expect increased levels of operations going forward will result in more significant cash flow and in turn working.

Cash Used In Operating Activities

For the nine months ended April 30, 2021, net cash used in operating activities was $129,280 as compared to net cash used in operating activities of $345,948 for the nine months ended April 30, 2020. The decrease in cash used in operating activities was mainly due to lower spend in general and administrative expenses.

Cash Provided In Financing Activities

For the nine months ended April 30, 2021 and 2020, net cash provided by financing activities was $111,059 and $178,694 respectively. The financing cash flow performance primarily reflects the provision of short-term loan by director and related party.

Cash Provided In Investing Activities

For the nine months ended April 30, 2021 and 2020, the net cash provided in investing activities was $20,565 and used in investing activities was $207,493. 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 April 30, 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.

5

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 APRIL 30, 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, 2020, 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 APRIL 30, 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 APRIL 30, 2021, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

6

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

7

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.

8

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: June 16, 2021	By:	/s/ NIU YEN YEN
	Title:	Chief Executive Officer, President, Director, Secretary and Treasurer
		(Principal Executive Officer)

Date: June 16, 2021	By:	/s/ HSIEH CHANG CHUNG
	Title:	Chief Financial Officer, (Principal Financial Officer, Principal Accounting Officer)

9

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 April 30, 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: June 16, 2021	By:	/s/ NIIU 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 April 30, 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: June 16, 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 April 30, 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: June 16, 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 April 30, 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: June 16, 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	9 Months Ended
	Apr. 30, 2021 shares
Cover [Abstract]
Entity Registrant Name	MU GLOBAL HOLDING Ltd
Entity Central Index Key	0001746119
Document Type	10-Q
Document Period End Date	Apr. 30, 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	Q3
Document Fiscal Year Focus	2021

XML

Condensed Consolidated Balance Sheets - USD ($)	Apr. 30, 2021	Jul. 31, 2020
NON CURRENT ASSETS
Property, plant and equipment	$ 250,536	$ 429,261
Leased asset- Right of use	15,450	198,514
Total non-current assets	265,986	627,775
INTANGIBLE ASSET
Trademark	23,781	25,779
Total Intangible asset	289,767	653,554
CURRENT ASSETS
Cash and cash equivalents	10,659	11,670
Other receivables		193
Prepayments and deposits	95,857	113,463
Amount due from related parties	14,024	12,920
Inventories	46,206	51,798
Total Current Assets	166,746	190,044
TOTAL ASSETS	456,513	843,598
NON-CURRENT LIABILITY
Leased liability	5,257	148,431
Total Non-Current Liability	5,257	148,431
CURRENT LIABILITIES
Loan from director	274,369	176,097
Leased liabilities	10,193	58,796
Loan from related party	52,517	48,739
Other payables and accrued liabilities	107,640	57,643
Amount due to related parties	42,094	85,142
Deposit from franchisee	35,807	42,624
Deposit from customers	40,932	38,148
Total Current Liabilities	563,552	507,189
TOTAL LIABILITIES	568,809	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 April 30, 2021 and July 31, 2020	5,943	5,943
Additional paid in capital	1,830,300	1,830,300
Foreign currency adjustment	2,335	(3,361)
Accumulated deficit	(1,950,874)	(1,644,904)
TOTAL STOCKHOLDERS' EQUITY	(112,296)	187,978
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 456,513	$ 843,598

XML

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 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		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Income Statement [Abstract]
REVENUE	$ 5,500	$ 2,216	$ 46,576	$ 94,527
COST OF REVENUE	(51)	(4,977)	(9,607)	(12,342)
GROSS PROFIT/(LOSS)	5,449	(2,761)	36,969	82,185
OTHER INCOME	5,227	1,698	30,214	6,970
SELLING AND MARKETING EXPENSES		(1,768)		(19,490)
GENERAL AND ADMINISTRATIVE EXPENSES	(78,879)	(178,832)	(373,153)	(563,425)
LOSS BEFORE INCOME TAX	(68,203)	(181,663)	(305,970)	(493,760)
INCOME TAX PROVISION
NET LOSS	(68,203)	(181,663)	(305,970)	(493,760)
Other comprehensive income/(expense):
- Foreign currency translation gain/(loss)	3,567	(5,948)	5,696	(14,097)
TOTAL COMPREHENSIVE LOSS	$ (68,209)	$ (187,611)	$ (300,274)	$ (507,857)
Net loss per share- Basic and diluted	$ (0.0011)	$ (0.0003)	$ (0.0051)	$ (0.0085)
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					(493,760)
Foreign currency translation adjustment					(14,097)
Ending balance at Apr. 30, 2020	$ 5,943	1,830,300	(5,370)	(1,469,756)	361,117
Ending balance, shares at Apr. 30, 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
Net loss for the period				(181,663)	(181,663)
Foreign currency translation adjustment			(5,948)		(5,948)
Ending balance at Apr. 30, 2020	$ 5,943	1,830,300	(5,370)	(1,469,756)	361,117
Ending balance, shares at Apr. 30, 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					(305,970)
Foreign currency translation adjustment					5,696
Ending balance at Apr. 30, 2021	$ 5,943	1,830,300	2,335	(1,950,874)	(112,296)
Ending balance, shares at Apr. 30, 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	(1,234)	(1,882,671)	(47,662)
Ending balance, shares at Jan. 31, 2021	59,434,838
Net loss for the period				(68,203)	(68,203)
Foreign currency translation adjustment			3,569		3,567
Ending balance at Apr. 30, 2021	$ 5,943	$ 1,830,300	$ 2,335	$ (1,950,874)	$ (112,296)
Ending balance, shares at Apr. 30, 2021	59,434,838

XML

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Apr. 30, 2021	Oct. 31, 2020	Apr. 30, 2020	Oct. 31, 2019	Apr. 30, 2021	Apr. 30, 2020	Jul. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (68,203)	$ (96,601)	$ (181,663)	$ (192,336)	$ (305,970)	$ (493,760)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization					143,867	138,135
Asset Write-off					74,458	4,264
Reversal on Termination of Leased Asset					(6,507)
Gain on Disposal					(11,840)
Changes in operating assets and liabilities:
Other receivables					194	(4,267)
Prepayments and Deposits					22,123	46,271
Trade payable						5,599
Other payables and accrued liabilities					(21,642)	(4,160)
Inventories					9,607	(4,457)
Amount due to related party						(6,030)
Amount due from related party					(1,104)	(30,164)
Leased liabilities					(23,173)	(27,069)
Deposit from customer					(5,933)	14,157
Deposit from franchisee					(3,360)	15,533
Net cash used in operating activities					(129,280)	(345,948)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceed on disposal of property, plant and equipment					20,565
Purchase of trademark						(26,394)
Purchase of property, plant and equipment						(181,099)
Net cash generate from/(used in) investing activities					20,565	(207,493)
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan from director					88,492	136,223
Loan from related party					22,567	42,471
Net cash provided by financing activities					111,059	178,694
Effect of exchange rate changes on cash and cash equivalents					(3,355)	(4,082)
Net change in cash and cash equivalents					(1,011)	(378,829)
Cash and cash equivalents, beginning of period		$ 11,670		$ 394,403	11,670	394,403	394,403
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 10,659		$ 15,574		10,659	15,574	$ 11,670
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid
Interest paid

XML

Description of Business and Organization

9 Months Ended

Apr. 30, 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

9 Months Ended

Apr. 30, 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

Financial Accounting Standards Board, or FASB, issued ASC 606. The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services.

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
Outlet equipment	3 years
Outlet design	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.

Impairment of long-live assets

Long-lived assets primarily include trademark of the company. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented.

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. (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 using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

For the period ended April 30, 2021, the Company has generated revenue of $46,576 and continuously incurred a net loss of $305,970. As of April 30, 2021, the Company suffered an accumulated deficit of $1,950,874. In addition, the company is also having net current liability of $396,806. The Company’s ability to continue as a going concern is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due.

These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

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 functional currency of the parent Company is United States dollar and the functional currency of the subsidiaries MU Worldwide Group Limited (Syechell) and MU Global Holding Limited (Hong Kong) is United States dollar. MU Global Health Management (Shanghai) Limited is in Renminbi.

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.

Foreign currencies translation (cont’d)

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

	As of and for the nine months ended April 30
	2021		2020
Period-end RMB : US$1 exchange rate		6.474		7.064
Period-average RMB : US$1 exchange rate		6.623		7.035
Period-end HKD$ : US$1 exchange rate		7.766		7.751
Period-average HKD$ : US$1 exchange rate		7.755		7.802
Period-end TWD: US$1 exchange rate		27.924		29.763
Period-average TWD: US$1 exchange rate		28.498		30.468

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

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.

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Property, Plant and Equipment

9 Months Ended

Apr. 30, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

3. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment as of April 30, 2021 and July 31, 2020 are summarized below:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Leasehold improvement	$	-		$	148,982
Computer hardware and software		129,301			129,301
Outlet equipment		100,686			100,686
Leasable equipment		211,719			223,560
Application development		37,413			37,413
Outlet Design Fee and Equipment		16,963			16,673
Total		496,082			656,705
Accumulated depreciation	$	(269,871	)	$	(220,001	)
Foreign currency translation adjustment		24,325			(7,443	)
Property, plant and equipment, net	$	250,536		$	429,261

Depreciation expense for the nine month period ended April 30, 2021 is $124,051.

WRITE OFF OF PROPERTY, PLANT AND EQUIPMENT

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Write off of property and equipment	$	148,982		$	-
Accumulated depreciation		(80,677	)		-
Foreign currency translation adjustment		6,153			-
Total Write off of property and equipment	$	74,458		$	-

DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT

	As of April 30, 2021 (unaudited)			As of July 31, 2020 (audited)
Proceed from disposal of property, plant and equipment	$	20,565		$	-
Disposal of equipment at cost		(11,821	)		-
Accumulated depreciation		3,096			-
Total gain on disposal	$	11,840		$	-

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Lease

9 Months Ended

Apr. 30, 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 October 31, 2020, the Company had terminate the leased asset which has been recognize on November 1, 2019. Thereafter 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:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Gross lease payable	$	21,370		$	271,328
Less: imputed interest		(826	)		(21,228	)
Initial recognition as of November 1, 2020 and 2019	$	20,544		$	250,100

As April 30, 2021 and July 31, 2020 operating lease right of use asset as follow:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Initial recognition	$	250,100		$	250,100
Add: New Lease addition		20,544			-
Less: Termination of lease		(250,100	)		-
Balance		20,544			250,100
Foreign exchange translation loss		-			(9,351	)
Accumulated amortization		(5,094	)		(42,235	)
Balance as end of the year	$	15,450		$	198,514

As April 30, 2021 and July 31, 2020 operating lease liability as follow:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Initial recognition	$	250,100		$	250,100
Add: New operating lease liability		20,544			-
Less: Termination of lease		(250,100	)		-
Less: Foreign exchange translation gain		-			(4,482	)
Less: gross repayment		(5,128	)		(43,254	)
Add: imputed interest		34			4,836
Balance		15,450			207,227
Less: lease liability current portion		(10,193	)		(58,796	)
Lease liability non-current portion	$	5,257		$	148,431

For the nine months ended April 30, 2021, the amortization of the operating lease right of use asset are $19,816.

Maturities of operating lease obligation as follow:

Year ending
July 31, 2021 (3 months)	$	2,411
July 31, 2022 (12 months)		10,377
October 31, 2022 (3 months)		2,662
Total	$	15,450

Other information:

	Nine months ended April 30,
	2021			2020
	(unaudited)			(unaudited)
Cash paid for amounts included in the measurement of lease liabilities:					-
Operating cash flow from operating lease	$	23,173		$	27,069
Right-of-use assets obtained in exchange for operating lease liabilities		15,450			217,065
Remaining lease term for operating lease (years)		1.5			3.75
Weighted average discount rate for operating lease		4.15	%		4.15	%

Lease expenses were $2,618 and $22,039 during the three and nine months ended April 30, 2021, respectively. The Company adopt ASC 842 on and after November 1, 2019

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Trademark

9 Months Ended

Apr. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Trademark

5. TRADEMARK

	As of April 30, 2021			As of July 31, 2020
	(Unaudited)			(Audited)
Trademark1	$	28,138		$	28,138
Accumulated amortization		(4,357	)		(2,359	)
Total trademark	$	23,781		$	25,779

¹The trademarks are held under the company’s subsidiaries in Hong Kong and Shanghai, China.

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Prepayments and Deposits

9 Months Ended

Apr. 30, 2021

Prepayments And Deposits

Prepayments and Deposits

6. PREPAYMENTS AND DEPOSITS

Prepayments and deposits consisted of the following at April 30, 2021 and July 31, 2020:

	As of April 30, 2021		As of July 31, 2020
		(Unaudited)		(Audited)
Deposits	$	57,089	$	66,388
Prepaid expenses		38,768		47,075
Total prepaid expenses and deposits	$	95,857	$	113,463

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Common Stock

9 Months Ended

Apr. 30, 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 April 30, 2021, MU Global Holding Limited has an issued and outstanding common share of 59,434,838.

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Inventories

9 Months Ended

Apr. 30, 2021

Inventory Disclosure [Abstract]

Inventories

8. INVENTORIES

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Finished goods, at cost	$	46,206	$	51,798
Total inventories	$	46,206	$	51,798

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Due from Related Parties

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Due from Related Parties

9. DUE FROM RELATED PARTIES

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Tien Mu International Co., Ltd1	$	14,024	$	12,920
Total	$	14,024	$	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.

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Other Payables and Accrued Liabilities

9 Months Ended

Apr. 30, 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 April 30, 2021 and July 31, 2020:

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Accrued audit fees	$	3,550	$	14,000
Accrued professional fees		1,250		5,000
Other payable and accrued liabilities		102,840		38,643
Total payables and accrued liabilities	$	107,640	$	57,643

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Due to Related Parties

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Due to Related Parties

11. DUE TO RELATED PARTIES

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Wu, Chun-Teh1	$	42,094	$	39,066
Hsieh, Chang-Chung2		-		46,076
	$	42,094	$	85,142

As of April 30, 2021, the balance $42,094 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.

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Loan from Director

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Loan from Director

12. LOAN FROM DIRECTOR

	As of		As of
	April 30, 2021		July 31, 2020
	(Unaudited)		(Audited)
Loan from Niu Yen-Yen	$	274,369	$	176,097
Total	$	274,369	$	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.

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Loan from Related Party

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Loan from Related Party

13. LOAN FROM RELATED PARTY

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Hong Ting Network Technology (Xiamen) Limited1	$	52,517	$	48,739
Total	$	52,517	$	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 2021.

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Income Taxes

9 Months Ended

Apr. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

14. INCOME TAXES

For the Nine months Ended April 30, 2021, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following:

	Nine months Ended April 30,
	2021			2020
Tax jurisdictions from:
Local	$	(26,644	)		(46,927	)
Foreign, representing
- Seychelles		-			-
- Hong Kong	$	(58,517	)		(120,104	)
- Shanghai	$	(220,809	)		(326,729	)
Loss before income tax	$	(305,970	)		(493,760	)

The provision for income taxes consisted of the following:

		For the period ended April 30, 2021		For the year ended April 30, 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 April 30, 2021, the operations in the United States of America incurred $26,644 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 $21,315 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%.

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Concentrations of Risk

9 Months Ended

Apr. 30, 2021

Risks and Uncertainties [Abstract]

Concentrations of Risk

15. CONCENTRATIONS OF RISK

(a.)Major customers

For the period ended 30 April, 2021, there was no customer who accounted for 10% or more of the Company’s revenues nor with significant outstanding receivables.

(b.) Major suppliers

For the period ended 30 April, 2021, there was no supplier who accounted for 10% or more of the Company’s purchases nor with significant outstanding payable.

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.

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Commitments and Contingencies

9 Months Ended

Apr. 30, 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

Balance as of April 30, 2021	$	15,450
Less: lease liability current portion		(10,193	)
Lease liability non-current portion	$	5,257

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Related Party Transactions

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Related Party Transactions

17. RELATED PARTY TRANSACTIONS

For the period ended April 30, 2021 the Company has following transactions with related parties:

	For the period ended April 30, 2021		For the year ended July 31, 2020
	(Unaudited)		(Audited)
Professional fee paid:
- Related party A	$	1,250	$	44,052
Consultation fee paid:
- Related party B	$	1,500	$	2,893
- Related party C	$	39,075	$	47,135
Total	$	41,825	$	94,080

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 April 30, 2021, the Company incurred professional fees of $1,250 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.

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Significant Events

9 Months Ended

Apr. 30, 2021

Significant Events

Significant Events

18. SIGNIFICANT EVENTS

Imposition of lockdown and other restrictive measures

On 23 January 2020, the Chinese government imposed a lockdown in Wuhan and other cities in the province of Hubei in an effort to quarantine the center of an outbreak of COVID-19. The lockdown in the city of Wuhan has set a precedent to other cities, where other cities within the country has implemented respective restrictive measures, including outdoor restrictions and closed management of communities. Shanghai, where the Company primarily operates the business in, was put under closed managed communities on 10 February 2020. The Chinese economy did fully restart until April 2021.

Before the financial statements were made out, the Board of Directors had considered the impact of COVID-19 outbreak in China, which would have affected the financial position, performance and cash flow of the Company as ended on the reporting date thereon.

The Management concluded that the impact of non-adjusting events from the COVID-19 outbreak has not significantly affected the fair value of the financial assets or liabilities and non-financial assets of the Company, including the classification of current and non-current items that were presented on the reporting date.

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Subsequent Events

9 Months Ended

Apr. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

19. 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 April 30, 2021 up through the date July 31, 2020 was the Company presented these audited consolidated financial statements.

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Summary of Significant Accounting Policies (Policies)

9 Months Ended

Apr. 30, 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

Financial Accounting Standards Board, or FASB, issued ASC 606. The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services.

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
Outlet equipment	3 years
Outlet design	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.

Impairment of long-live assets

Impairment of long-live assets

Long-lived assets primarily include trademark of the company. In accordance with the provision of ASC Topic 360, “Impairment or Disposal of Long-Lived Assets”, the Company generally conducts its annual impairment evaluation to its long-lived assets, usually in the fourth quarter of each fiscal year, or more frequently if indicators of impairment exist, such as significant sustained change in the business climate. The recoverability of long-lived assets is measured at the lowest level group. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for the difference between the fair value and carrying amount of the asset. There has been no impairment charge for the years presented.

Leases

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. (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.

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.

Going Concern

Going concern

The accompanying financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

For the period ended April 30, 2021, the Company has generated revenue of $46,576 and continuously incurred a net loss of $305,970. As of April 30, 2021, the Company suffered an accumulated deficit of $1,950,874. In addition, the company is also having net current liability of $396,806. The Company’s ability to continue as a going concern is dependent upon improving the profitability and the continuing financial support from its stockholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due.

These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result in the Company not being able to continue as a going concern.

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 functional currency of the parent Company is United States dollar and the functional currency of the subsidiaries MU Worldwide Group Limited (Syechell) and MU Global Holding Limited (Hong Kong) is United States dollar. MU Global Health Management (Shanghai) Limited is in Renminbi.

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, TWD, and HK$ into US$1 has been made at the following exchange rates for the respective periods:

	As of and for the nine months ended April 30
	2021		2020
Period-end RMB : US$1 exchange rate		6.474		7.064
Period-average RMB : US$1 exchange rate		6.623		7.035
Period-end HKD$ : US$1 exchange rate		7.766		7.751
Period-average HKD$ : US$1 exchange rate		7.755		7.802
Period-end TWD: US$1 exchange rate		27.924		29.763
Period-average TWD: US$1 exchange rate		28.498		30.468

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

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.

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Description of Business and Organization (Tables)

9 Months Ended

Apr. 30, 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

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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Apr. 30, 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
Outlet equipment	3 years
Outlet design	3 years

Schedule of Foreign Exchange Rates Translation

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

	As of and for the nine months ended April 30
	2021		2020
Period-end RMB : US$1 exchange rate		6.474		7.064
Period-average RMB : US$1 exchange rate		6.623		7.035
Period-end HKD$ : US$1 exchange rate		7.766		7.751
Period-average HKD$ : US$1 exchange rate		7.755		7.802
Period-end TWD: US$1 exchange rate		27.924		29.763
Period-average TWD: US$1 exchange rate		28.498		30.468

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Property, Plant and Equipment (Tables)

9 Months Ended

Apr. 30, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment as of April 30, 2021 and July 31, 2020 are summarized below:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Leasehold improvement	$	-		$	148,982
Computer hardware and software		129,301			129,301
Outlet equipment		100,686			100,686
Leasable equipment		211,719			223,560
Application development		37,413			37,413
Outlet Design Fee and Equipment		16,963			16,673
Total		496,082			656,705
Accumulated depreciation	$	(269,871	)	$	(220,001	)
Foreign currency translation adjustment		24,325			(7,443	)
Property, plant and equipment, net	$	250,536		$	429,261

Schedule of Write Off of Property, Plant and Equipment

WRITE OFF OF PROPERTY, PLANT AND EQUIPMENT

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Write off of property and equipment	$	148,982		$	-
Accumulated depreciation		(80,677	)		-
Foreign currency translation adjustment		6,153			-
Total Write off of property and equipment	$	74,458		$	-

Schedule of Disposal of Property, Plant and Equipment

DISPOSAL OF PROPERTY, PLANT AND EQUIPMENT

	As of April 30, 2021 (unaudited)			As of July 31, 2020 (audited)
Proceed from disposal of property, plant and equipment	$	20,565		$	-
Disposal of equipment at cost		(11,821	)		-
Accumulated depreciation		3,096			-
Total gain on disposal	$	11,840		$	-

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Lease (Tables)

9 Months Ended

Apr. 30, 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:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Gross lease payable	$	21,370		$	271,328
Less: imputed interest		(826	)		(21,228	)
Initial recognition as of November 1, 2020 and 2019	$	20,544		$	250,100

Schedule of Operating Lease Right of Use Asset

As April 30, 2021 and July 31, 2020 operating lease right of use asset as follow:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Initial recognition	$	250,100		$	250,100
Add: New Lease addition		20,544			-
Less: Termination of lease		(250,100	)		-
Balance		20,544			250,100
Foreign exchange translation loss		-			(9,351	)
Accumulated amortization		(5,094	)		(42,235	)
Balance as end of the year	$	15,450		$	198,514

Schedule of Operating Lease Liability

As April 30, 2021 and July 31, 2020 operating lease liability as follow:

	As of April 30, 2021			As of July 31, 2020
	(unaudited)			(audited)
Initial recognition	$	250,100		$	250,100
Add: New operating lease liability		20,544			-
Less: Termination of lease		(250,100	)		-
Less: Foreign exchange translation gain		-			(4,482	)
Less: gross repayment		(5,128	)		(43,254	)
Add: imputed interest		34			4,836
Balance		15,450			207,227
Less: lease liability current portion		(10,193	)		(58,796	)
Lease liability non-current portion	$	5,257		$	148,431

Schedule of Maturities of Operating Lease Obligation

Maturities of operating lease obligation as follow:

Year ending
July 31, 2021 (3 months)	$	2,411
July 31, 2022 (12 months)		10,377
October 31, 2022 (3 months)		2,662
Total	$	15,450

Schedule of Other Information

Other information:

	Nine months ended April 30,
	2021			2020
	(unaudited)			(unaudited)
Cash paid for amounts included in the measurement of lease liabilities:					-
Operating cash flow from operating lease	$	23,173		$	27,069
Right-of-use assets obtained in exchange for operating lease liabilities		15,450			217,065
Remaining lease term for operating lease (years)		1.5			3.75
Weighted average discount rate for operating lease		4.15	%		4.15	%

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Trademark (Tables)

9 Months Ended

Apr. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Trademark

	As of April 30, 2021			As of July 31, 2020
	(Unaudited)			(Audited)
Trademark1	$	28,138		$	28,138
Accumulated amortization		(4,357	)		(2,359	)
Total trademark	$	23,781		$	25,779

¹The trademarks are held under the company’s subsidiaries in Hong Kong and Shanghai, China.

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Prepayments and Deposits (Tables)

9 Months Ended

Apr. 30, 2021

Prepayments And Deposits

Schedule of Prepayments and Deposits

Prepayments and deposits consisted of the following at April 30, 2021 and July 31, 2020:

	As of April 30, 2021		As of July 31, 2020
		(Unaudited)		(Audited)
Deposits	$	57,089	$	66,388
Prepaid expenses		38,768		47,075
Total prepaid expenses and deposits	$	95,857	$	113,463

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Inventories (Tables)

9 Months Ended

Apr. 30, 2021

Inventory Disclosure [Abstract]

Schedule of Inventories

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Finished goods, at cost	$	46,206	$	51,798
Total inventories	$	46,206	$	51,798

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Due from Related Parties (Tables)

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Schedule of Due from Related Parties

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Tien Mu International Co., Ltd1	$	14,024	$	12,920
Total	$	14,024	$	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.

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Other Payables and Accrued Liabilities (Tables)

9 Months Ended

Apr. 30, 2021

Payables and Accruals [Abstract]

Schedule of Other Payables and Accrued Liabilities

Other payables and accrued liabilities consisted of the following at April 30, 2021 and July 31, 2020:

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Accrued audit fees	$	3,550	$	14,000
Accrued professional fees		1,250		5,000
Other payable and accrued liabilities		102,840		38,643
Total payables and accrued liabilities	$	107,640	$	57,643

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Due to Related Parties (Tables)

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Schedule of Due to Related Parties

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Wu, Chun-Teh1	$	42,094	$	39,066
Hsieh, Chang-Chung2		-		46,076
	$	42,094	$	85,142

As of April 30, 2021, the balance $42,094 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.

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Loan from Director (Tables)

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Schedule of Loan from Director

	As of		As of
	April 30, 2021		July 31, 2020
	(Unaudited)		(Audited)
Loan from Niu Yen-Yen	$	274,369	$	176,097
Total	$	274,369	$	176,097

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Loan from Related Party (Tables)

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Schedule of Loan from Related Party

	As of April 30, 2021		As of July 31, 2020
	(Unaudited)		(Audited)
Hong Ting Network Technology (Xiamen) Limited1	$	52,517	$	48,739
Total	$	52,517	$	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 2021.

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Income Taxes (Tables)

9 Months Ended

Apr. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Loss Before Income Tax

For the Nine months Ended April 30, 2021, the local (United States) and foreign components of income/ (loss) before income taxes were comprised of the following:

	Nine months Ended April 30,
	2021			2020
Tax jurisdictions from:
Local	$	(26,644	)		(46,927	)
Foreign, representing
- Seychelles		-			-
- Hong Kong	$	(58,517	)		(120,104	)
- Shanghai	$	(220,809	)		(326,729	)
Loss before income tax	$	(305,970	)		(493,760	)

Schedule of Provision for Income Taxes

The provision for income taxes consisted of the following:

		For the period ended April 30, 2021		For the year ended April 30, 2020
Current:
- Local	$	-	$	-
- Foreign		-		-
Deferred:
- Local		-		-
- Foreign		-		-
Income tax expense	$	-	$	-

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Commitments and Contingencies (Tables)

9 Months Ended

Apr. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Lease Liability

Balance as of April 30, 2021	$	15,450
Less: lease liability current portion		(10,193	)
Lease liability non-current portion	$	5,257

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Related Party Transactions (Tables)

9 Months Ended

Apr. 30, 2021

Related Party Transactions [Abstract]

Schedule of Outstanding Payable to Related Party

For the period ended April 30, 2021 the Company has following transactions with related parties:

	For the period ended April 30, 2021		For the year ended July 31, 2020
	(Unaudited)		(Audited)
Professional fee paid:
- Related party A	$	1,250	$	44,052
Consultation fee paid:
- Related party B	$	1,500	$	2,893
- Related party C	$	39,075	$	47,135
Total	$	41,825	$	94,080

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

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Description of Business and Organization - Schedule of Company's Subsidiary (Details)	9 Months Ended
	Apr. 30, 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

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Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	Apr. 30, 2021	Jan. 31, 2021	Oct. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Apr. 30, 2021	Apr. 30, 2020	Jul. 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.
Revenues	$ 5,500			$ 2,216			$ 46,576	$ 94,527
Net loss	(68,203)	$ (141,166)	$ (96,601)	$ (181,663)	$ (119,761)	$ (192,336)	(305,970)	$ (493,760)
Accumulated deficit	(1,950,874)						(1,950,874)		$ (1,644,904)
Current liabilities	$ 563,552						$ 563,552		$ 507,189

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Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment Estimated Life (Details)	9 Months Ended
	Apr. 30, 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
Outlet Equipment [Member]
Estimated useful life	3 years
Outlet Design [Member]
Estimated useful life	3 years

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Summary of Significant Accounting Policies - Schedule of Foreign Exchange Rates Translation (Details)	Apr. 30, 2021	Apr. 30, 2020
Period-end RMB : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	6.474	7.064
Period-average RMB : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	6.623	7.035
Period-end HKD$ : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	7.766	7.751
Period-average HKD$ : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	7.755	7.802
Period-end TWD: US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	27.924	29.763
Period-average TWD : US$1 Exchange Rate [Member]
Foreign currency exchange rate, translation	28.498	30.468

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Property, Plant and Equipment (Details Narrative)	9 Months Ended
	Apr. 30, 2021 USD ($)
Outlet Design Fee and Equipment [Member]
Depreciation expense	$ 124,051

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Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)	Apr. 30, 2021	Jul. 31, 2020
Total	$ 496,082	$ 656,705
Accumulated depreciation	(269,871)	(220,001)
Foreign currency translation adjustment	24,325	(7,443)
Property, plant and equipment, net	250,536	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	211,719	223,560
Application Development [Member]
Total	37,413	37,413
Outlet Design Fee and Equipment [Member]
Total	$ 16,963	$ 16,673

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Property, Plant and Equipment - Schedule of Write Off of Property, Plant and Equipment (Details) - USD ($)	Apr. 30, 2021	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Write off of property and equipment	$ 148,982
Accumulated depreciation	(80,677)
Foreign currency translation adjustment	6,153
Total Write off of property and equipment	$ 74,458

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Property, Plant and Equipment - Schedule of Disposal of Property, Plant and Equipment (Details) - USD ($)	9 Months Ended		12 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Jul. 31, 2020
Property, Plant and Equipment [Abstract]
Proceed from disposal of property, plant and equipment	$ 20,565
Disposal of equipment at cost	(11,821)
Accumulated depreciation	3,096
Total gain on disposal	$ 11,840

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Lease (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Apr. 30, 2021	Apr. 30, 2021	Apr. 30, 2020	Nov. 02, 2020	Jul. 31, 2020	Jul. 31, 2019
Lease liability right-of-use asset	$ 15,450	$ 15,450	$ 217,065		$ 198,514	$ 250,100
Lease discounted rate	4.15%	4.15%	4.15%
Amortization of operating lease right of use asset		$ 19,816	$ 29,074
Lease expenses	$ 2,618	$ 22,039
Adopted ASC 842 [Member]
Lease liability right-of-use asset				$ 19,724
Lease discounted rate				4.15%

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Lease - Schedule of Recognition of Operating Lease Right and Lease Liability (Details) - USD ($)	Apr. 30, 2021	Apr. 30, 2020
Leases [Abstract]
Gross lease payable	$ 21,370	$ 271,328
Less: imputed interest	(826)	(21,228)
Initial recognition as of November 1, 2020 and 2019	$ 250,100	$ 250,100

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Lease - Schedule of Operating Lease Right of Use Asset (Details) - USD ($)	9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Leases [Abstract]
Initial recognition	$ 198,514	$ 250,100
Add: New Lease addition	20,544
Less: Termination of lease	(250,100)
Balance	20,544	250,100
Foreign exchange translation loss		(3,961)
Accumulated amortization	(19,816)	(29,074)
Balance as of April 30	$ 15,450	$ 217,065

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Lease - Schedule of Operating Lease Liability (Details) - USD ($)	Apr. 30, 2021	Jul. 31, 2020	Apr. 30, 2020
Leases [Abstract]
Initial recognition	$ 250,100		$ 250,100
Add: New operating lease liability	20,544
Less: Termination of lease	(250,100)
Less: Foreign exchange translation gain			(4,482)
Less: gross repayment	(5,128)		(31,825)
Add: imputed interest	34		4,755
Balance as of April 30	15,450		218,548
Less: lease liability current portion	(10,193)		(57,030)
Lease liability non-current portion	$ 5,257	$ 148,431	$ 161,518

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Lease - Schedule of Maturities of Operating Lease Obligation (Details) - Operating Lease Obligation [Member]	Apr. 30, 2021 USD ($)
July 31, 2021 (3 months)	$ 2,411
July 31, 2022 (12 months)	10,377
October 31, 2022 (3 months)	2,662
Total	$ 15,450

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Lease - Schedule of Other Information (Details) - USD ($)	9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Jul. 31, 2020	Jul. 31, 2019
Leases [Abstract]
Operating cash flow from operating lease	$ 23,173	$ 27,069
Right-of-use assets obtained in exchange for operating lease liabilities	$ 15,450	$ 217,065	$ 198,514	$ 250,100
Remaining lease term for operating lease (years)	1 year 6 months	3 years 9 months
Weighted average discount rate for operating lease	4.15%	4.15%

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Trademark - Schedule of Trademark (Details) - USD ($)		Apr. 30, 2021	Jul. 31, 2020
Total trademark		$ 289,767	$ 653,554
Trademarks [Member]
Trademark	[1]	28,138	28,138
Accumulated amortization		(4,357)	(2,359)
Total trademark		$ 23,781	$ 25,779

[1] The trademarks are held under the company's subsidiaries in Hong Kong and Shanghai, China.

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Prepayments and Deposits - Schedule of Prepayments and Deposits (Details) - USD ($)	Apr. 30, 2021	Jul. 31, 2020
Prepayments And Deposits
Deposits	$ 57,089	$ 66,388
Prepaid expenses	38,768	47,075
Total prepaid expenses and deposits	$ 95,857	$ 113,463

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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	Apr. 30, 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

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Inventories - Schedule of Inventories (Details) - USD ($)	Apr. 30, 2021	Jul. 31, 2020
Inventory Disclosure [Abstract]
Finished goods, at cost	$ 46,206	$ 51,798
Total inventories	$ 46,206	$ 51,798

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Due from Related Parties - Schedule of Due from Related Parties (Details) - USD ($)		Apr. 30, 2021	Jul. 31, 2020
Total amount due from related party		$ 14,024	$ 12,920
Tien Mu International Co., Ltd [Member]
Total amount due from related party	[1]	$ 14,024	$ 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.

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Other Payables and Accrued Liabilities - Schedule of Other Payables and Accrued Liabilities (Details) - USD ($)	Apr. 30, 2021	Jul. 31, 2020
Payables and Accruals [Abstract]
Accrued audit fees	$ 3,550	$ 14,000
Accrued professional fees	1,250	5,000
Other payable and accrued liabilities	102,840	38,643
Total payables and accrued liabilities	$ 107,640	$ 57,643

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Due to Related Parties (Details Narrative) - USD ($)	Apr. 30, 2021	Jul. 31, 2020
Related Party Transactions [Abstract]
Amount due to related parties	$ 42,094	$ 85,142

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Due to Related Parties - Schedule of Due to Related Parties (Details) - USD ($)		Apr. 30, 2021	Jul. 31, 2020
Due to related parties		$ 42,094	$ 85,142
Wu, Chun-Teh [Member]
Due to related parties	[1]	42,094	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.

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Loan from Director - Schedule of Loan from Director (Details) - USD ($)	Apr. 30, 2021	Jul. 31, 2020
Total	$ 274,369	$ 176,097
Loan from Niu Yen-Yen [Member]
Total	$ 274,369	$ 176,097

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Loan from Related Party - Schedule of Loan from Related Party (Details) - USD ($)		Apr. 30, 2021	Jul. 31, 2020
Total		$ 52,517	$ 48,739
Hong Ting Network Technology (Xiamen) Limited [Member]
Total	[1]	$ 52,517	$ 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 2021.

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Income Taxes (Details Narrative)	9 Months Ended
	Apr. 30, 2021 USD ($)
Cumulative net operating losses carryforwards	$ 26,644
Valuation allowance	$ 21,315
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%

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Income Taxes - Schedule of Loss Before Income Tax (Details) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Local			$ (26,644)	$ (46,927)
Loss before income tax	$ (68,203)	$ (181,663)	(305,970)	(493,760)
Seychelles [Member]
Foreign
Hong Kong [Member]
Foreign			(58,517)	(120,104)
Shanghai [Member]
Foreign			$ (220,809)	$ (326,729)

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Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Current - Local
Current - Foreign
Deferred - Local
Deferred - Foreign
Income tax expense

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Commitments and Contingencies (Details Narrative) - Rental Agreement [Member] - Shanghai [Member]	9 Months Ended
	Apr. 30, 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

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Commitments and Contingencies - Schedule of Lease Liability (Details) - USD ($)	Apr. 30, 2021	Jul. 31, 2020	Apr. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Balance as of April 30, 2021	$ 15,450		$ 218,548
Less: lease liability current portion	(10,193)		(57,030)
Lease liability non-current portion	$ 5,257	$ 148,431	$ 161,518

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Related Party Transactions (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Apr. 30, 2021	Jul. 31, 2020
Related Party A [Member]
Professional fees	$ 1,250	$ 44,052

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Related Party Transactions - Schedule of Outstanding Payable to Related Party (Details) - USD ($)	9 Months Ended	12 Months Ended
	Apr. 30, 2021	Jul. 31, 2020
Total	$ 41,825	$ 94,080
Related Party A [Member]
Professional fee	1,250	44,052
Related Party B [Member]
Consultation fee	1,500	2,893
Related Party C [Member]
Consultation fee	$ 39,075	$ 47,135