Note 5 - Related-Party Transactions

3 Months Ended

Jan. 31, 2021

Related Party Transactions [Abstract]

Related-Party Transactions

Note 5 – Related-Party Transactions 

Revenue and Accounts Receivable

During the three months ended January 31, 2021, the Company recognized revenue of $50,300 from three companies owned by Nirajkumar Patel, the Chief Executive Officer and Chief Financial Officer of the Company, and/or his wife. As of January 31, 2021, the Company has accounts receivable from this related party in the amount of $18,575.

Purchases and Accounts Payable

During the three months ended January 31, 2021, the Company purchased Products of $32,479,100 from Bidi, a related party company that is also owned by Nirajkumar Patel, our Chief Executive Officer and Chief Financial Officer. As of January 31, 2021, the Company had accounts payable to Bidi of $6,247,882.

Office Space

On August 1, 2020, the Company began leasing office space for its main corporate office in Grant, Florida. The five-year lease agreement is with a related party, Just Pick, LLC (“Just Pick”). The Company’s Chief Executive Officer is an officer of Just Pick.

Prior to this, the Company utilized the home office space and warehouse of its management at no cost through July 31, 2020.