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Note 5 - Related-Party Transactions
6 Months Ended
Apr. 30, 2020
Related Party Transactions [Abstract]  
Related-Party Transactions

Note 5 – Related-Party Transactions

 

Revenue and Accounts Receivable

 

During the six months ended April 30, 2020, the Company generated $22,460, $9,030, $880, and $110 of revenue from Cloud Nine 2012, Inc., JC Products of USA, LLC, Shree Maharaj, Inc., and Bhawani Krupa, Inc., respectively. All of these companies are owned by Nirajkumar Patel, the Chief Executive Officer and Chief Financial Officer of the Company, and/or his wife. As of April 30, 2020, the Company has accounts receivable from Cloud Nine 2012, Inc., Shree Maharaj, Inc., and Bhawani Krupa, Inc. in the amount of $4,080, $880, and $110, respectively.

 

Purchases and Accounts Payable

 

During the six months ended April 30, 2020, the Company purchased $18,318,219 of products from Bidi and sold $18,301,800 of goods to retail and non-retail customers. As of April 30, 2020, the Company had accounts payable to Bidi of $1,278,638.

 

Contributed Capital

 

During the six months ended April 30, 2020, the Company’s Chief Executive Officer / Chief Financial Officer and Chief Operating Officer provided contributed capital of $16,257 and $10,900, respectively, to the Company. For additional information, see Note 4, Additional Paid-in Capital.

 

Office Space

 

We utilize the home office space and warehouse of our management at no cost.