Note 6 - Related-Party Transactions

9 Months Ended

Jul. 31, 2020

Related Party Transactions [Abstract]

Related-Party Transactions

Note 6 – Related-Party Transactions

Revenue and Accounts Receivable

During the nine months ended July 31, 2020, the Company generated $65,000, $18,990, $2,420, 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 July 31, 2020, the Company has accounts receivable from Cloud Nine 2012, Inc. and Bhawani Krupa, Inc. in the amount of $19,800 and $110, respectively.

Purchases and Accounts Payable

During the nine months ended July 31, 2020, the Company purchased $47,771,211 of Products from Bidi and sold $55,010,416 of Products to retail and non-retail customers. As of July 31, 2020, the Company had accounts payable to Bidi of $4,286,852. Bidi is owned by Nirajkumar Patel, the Company’s Chief Executive Officer and Chief Financial Officer.

Contributed Capital

During the nine months ended July 31, 2020, Nirajkumar Patel, the Company’s Chief Executive Officer and Chief Financial Officer, and Eric Mosser, the Company’s Chief Operating Officer, contributed capital of $16,257 and $10,900, respectively, to the Company. For additional information, see Note 5, Stockholders’ Equity.

Office Space

We utilized the home office space and warehouse of our management at no cost through July 31, 2020.