10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

☒     ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1933

For the fiscal year ended October 31, 2023

or

☐     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1933

For the transition period from __________ to __________

Commission file number 333-263020

KHEOBA CORP.

(Exact name of registrant as specified in its charter)

Nevada	7371	98-1636812
(State or Other Jurisdiction of	(Primary Standard Industrial	(IRS Employer
Incorporation or Organization)	Classification Code Number)	Identification Number)

Petonal el Cerezo 8,

2A Los Realejos 38410,

Tenerife, Spain

+1 (702) 833-9604

(Address, including zip code, and telephone number,

including area code, of registrant’s principal executive offices)

Securities registered under Section 12(b) of the Exchange Act:
Title of each class	Trading Symbol	Name of each exchange on which registered
N/a	N/a	N/a

Securities registered under Section 12(g) of the Exchange Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐     No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐     No ☒

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 ☒     No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒     No ☐

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. (Check one):

Large accelerated filer	☐
Accelerated filer	☐	Smaller reporting company	☒
Non-accelerated filer	☒	Emerging growth company	☒

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 ☒

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 8,092,000 common shares issued and outstanding as of January 30, 2024.

TABLE OF CONTENTS

		Page
PART I
Item 1.	Description of Business.	3
Item 1A.	Risk Factors.	5
Item 1B.	Unresolved Staff Comments.	5
Item 2	Properties.	5
Item 3.	Legal proceedings.	5
Item 4.	Mine Safety Disclosures.	5
PART II
Item 5.	Market for Common Equity and Related Stockholder Matters.	6
Item 6.	Selected Financial Data.	7
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	7
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk.	8
Item 8.	Financial Statements and Supplementary Data.	8
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.	21
Item 9A.	Controls and Procedures.	21
Item 9B.	Other Information.	22
PART III
Item 10	Directors, Executive Officers, and Control Persons of the Company.	23
Item 11.	Executive Compensation.	25
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.	26
Item 13.	Certain Relationships and Related Transactions.	26
Item 14.	Principal Accounting Fees and Services.	26
PART IV
Item 15.	Exhibits	27
Signatures		28

2

PART I

Item 1. Description of Business

DESCRIPTION OF BUSINESS

We are development stage company commencing operations in software and travel industry. We intend to provide an online platform for private and group adventures in Georgia, Caucasus mountains region.and Tenerife Spain. Our principal executive office is located at Petonal el Cerezo 8, 2A Los Realejos 38410, Tenerife, Spain. Our phone number is (702) 833-9604.

We plan to develop a travel oriented online platform with the following features: 

- booking multi-day private and group tours.

- tour guide ranking algorithm by professional experience and clients’ feedbacks.

- artificial intelligence-based algorithm for tour choosing.

- integrated CRM system for tour suppliers.

- integrated guides by topic (Georgian wine guide, Georgian cuisine guide etc.)

- tour experience pictures and video sharing algorithm.

- 24-hours chat support.

Before we launch our platform, we are testing tours on the following topics: 

- Georgian wine tour.

- The Caucasus mountains retreat.

- Old Tbilisi tour.

- Tenerife wine tour

- Tenerife surf lessons for beginners.

Additionally, we have launched our website (kheoba.com). It is tailored for perspective Kheoba guides. We will try to attract various signature tour guides, whether they are companies or individual guides. They will pay us for access to our CRM program, hosted on kheoba.com. Our CRM program enables efficient tour management.

The program includes widgets, various calculators - everything necessary for such an assistant for the guide. Additionally, as an additional revenue stream, we can sell this platform to a tour agency that already provides it to their clients.

Our earnings will come from an annual access fee, essentially an annual subscription. An agent will pay $500 or $1000 per year and gains full access to this platform with support.

Alternatively, a company with five or six in-house guides who can also use our platform, the firm itself, can pay us $3,000 to $4,000.

We are planning to spend raised funds from the offering mostly on the software development and marketing campaign. We need up to $35,000 to create the artificial intelligence-based algorithm and CRM system coding. We need minimum of $8,000 to develop an internal CRM system for our platform. We can raise this amount if we sell 25% of the shares issued. We require additional funding of $27,000 to create artificial intelligence-based algorithm for our platform. We may proceed with the algorithm development if we sell minimum 75% of shares issued.

3

Revenue

We are planning to generate revenue from the tour suppliers (individual tour guides, travel agencies). They can purchase monthly or annual access to the platform and CRM system. The platform users (customers) can purchase monthly or annual subscription for the new adventures list and special offers. We also plan to organize group tours to test our package tours and features hypothesis. 

Competition and Marketing

There are plenty of online platforms and CRM systems with the tour offers and connection features between clients and tour guides. There many tour guides marketplaces as well. Majority of these platforms are concentrated on the worldwide adventures. We are considering to be a local oriented platform with specific knowledge about Georgia, national traditions and mentality. Moreover, we are planning to pay attention to the cultural aspects in different locations. We are planning to promote our services and products through influencers, micro-bloggers in YouTube and Instagram. Moreover, we are planning to hire the outsource sales representatives to sell our services to the tour agencies. 

Employees; Identification of Certain Significant Employees.

We have no employees other than our sole officer and director, Gaga Gvenetadze who currently devotes approximately twenty hours per week to company matters.

Government Regulation

We are subject to compliance with laws, governmental regulations, administrative determinations, court decisions and similar constraints. 

The company upon implementing its business plan expects to be in compliance with U.S. federal laws, including the U.S. Privacy Act of 1974, Health Insurance Portability and Accountability Act of 1996, Children's Online Privacy Protection Act of 1998 (COPPA), 1999 Gramm-Leach Bliley Act that protects the rights and data of U.S. consumers, patients, minors and others.

The Nevada state laws (Nevada Revised Statutes – NRS)

CHAPTER 603A - SECURITY AND PRIVACY OF PERSONAL INFORMATION

SECURITY OF INFORMATION MAINTAINED BY DATA COLLECTORS AND OTHER BUSINESSES

State of Nevada Online Privacy Policy - Effective Date 11/25/02 | 3.03 B. 

Law of Georgia in cybersecurity№6391-Ic

Law of Georgia in security and privacy of personal information №5669-PC

We will also be subject to common business and tax rules and regulations pertaining to the normal business operations.

4

DESCRIPTION OF PROPERTY

Our business office is located at Petonal el Cerezo 8, 2A Los Realejos 38410, Tenerife, Spain. This address was provided by sole officer and president, Mr. Gvenetadze. Our telephone number is (702) 833-9604. 

Item 1A. Risk Factors

Not applicable to smaller reporting companies.

Item 1B. Unresolved Staff Comments

Not applicable to smaller reporting companies.

Item 2. Properties.

We do not own any real estate or other properties.  

Item 3. Legal Proceedings

We are not currently a party to any legal proceedings, and we are not aware of any pending or potential legal actions.

Item 4. Mine Safety Disclosures

Not applicable.

5

PART II

Item 5. Market for Common Equity and Related Stockholder Matters

MARKET INFORMATION

Our common stock is not currently traded on any exchange. We cannot assure that any market for the shares will develop or be sustained.

HOLDERS

As of January 30, 2024, the Company had 8,092,000 shares of our common stock issued and outstanding held by our shareholders.

DIVIDENDS

No cash dividends were paid on our shares of common stock during the fiscal years ended October 31, 2023 and 2022.

SECURITIES AUTHORIZED UNDER EQUITY COMPENSATION PLANS

We have no equity compensation or stock option plans.

RECENT SALES OF UNREGISTERED SECURITIES

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

On August 1, 2021 the Company issued 6,000,000 shares of common stock to a director for consideration of $6,000 at par value $0.001 per share.

During September 2023 the Company issued 427,000 shares of common stock for cash proceeds of $8,540 at $0.02 per share.

During October 2023 the Company issued 868,000 shares of common stock for cash proceeds of $17,360 at $0.02 per share.

As of October 31, 2023 and 2022, the Company had 7,295,000 and 6,000,000 shares issued and outstanding, respectively.

6

OTHER STOCKHOLDER MATTERS

None.

Item 6. Selected Financial Data

Not applicable to smaller reporting companies.

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

RESULTS OF OPERATIONS

Results of operations for the years ended October 31, 2023 and 2022

During the year ended October 31, 2023 we generated revenue of $16,000. Total revenue increased for the year ended October 31, 2023 compared to the year ended October 31, 2022 due to the launch of the Company's websites, attracting new customers. Total operating expenses for the year ended October 31, 2023 were $16,047. The operating expenses included general and administrative expenses. Our net loss was $47.

During the year ended October 31, 2022 we generated revenue of $4,000. Total operating expenses for the year ended October 31, 2022 were $12,495. The operating expenses included general and administrative expenses. Our net loss was $8,495.

LIQUIDITY AND CAPITAL RESOURCES

As of October 31, 2023, our total assets were $32,695. Total assets were comprised of $29,778 in current assets and $2,917 in website development costs.

As at October 31, 2023, our current liabilities were $10,207 and stockholders’ equity was $22,488.

CASH FLOWS FROM OPERATING ACTIVITIES

For the year ended October 31, 2023 net cash flows used in operating activities was $11,127.

For the year ended October 31, 2022 net cash flows used in operating activities was $3,995.

CASH FLOWS FROM INVESTING ACTIVITIES

For the years ended October 31, 2023 and 2022 we have generated $0 in investing activities.

CASH FLOWS FROM FINANCING ACTIVITIES

For the year ended October 31, 2023 net cash flows provided in financing activities was $25,900.

For the year ended October 31, 2022 we have generated $0 in financing activities.

7

Critical Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Recent Accounting Pronouncements

The Company has reviewed all the recent accounting pronouncements issued to date of the issuance of these financial statements, and does not believe any of these pronouncements will have a material impact on the Company’s financial reporting.

OFF BALANCE SHEET ARRANGEMENTS

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

Item 7A. Quantitative and Qualitative Disclosures about Market Risk

Not applicable to smaller reporting companies.

Item 8. Financial Statements and Supplementary Data

The Company's financial statements for the years ended October 31, 2023 and 2022, immediately follow.

8

KHEOBA CORP.

FINANCIAL STATEMENTS

TABLE OF CONTENTS

	Page
Report of Independent Registered Public Accounting Firm	10
Balance Sheets as of October 31, 2023 and 2022	11
Statements of Operations for the years ended October 31, 2023 and 2022	12
Statements of Changes in Stockholders’ Equity (Deficit) for the years ended October 31, 2023 and 2022	13
Statements of Cash Flows for the years ended October 31, 2023 and 2022	14
Notes to the Audited Financial Statements October 31, 2023	15

9

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders of Kheoba Corp.

Opinion on the Financial Statements

We have audited the accompanying balance sheets of Kheoba Corp. (“the Company”) as of October 31, 2023 and 2022, and the related statements of operations, stockholders’ equity (deficit), and cash flows for each of the years in the two-year period ended October 31, 2023, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of October 31, 2023 and 2022 and the results of its operations and its cash flows for each of the years in the two-year period ended October 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has an accumulated deficit and requires financing from related parties for operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters

Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there were no critical audit matters.

 

Fruci & Associates II, PLLC – PCAOB ID #05525

We have served as the Company’s auditor since 2021.

Spokane, Washington

January 29, 2024

10

KHEOBA CORP.

BALANCE SHEETS

	October 31, 2023			October 31, 2022
ASSETS
Cash on hand	$	16,778		$	2,005
Prepaid expenses		13,000			-
Total current assets		29,778			2,005
Website Development Costs, Net		2,917			3,500
Total Assets	$	32,695		$	5,505
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	$	2,537		$	4,500
Deferred revenue		3,300			-
Related party loan		4,370			4,370
Total current liabilities		10,207			8,870
Commitments and Contingencies		-			-
Stockholders’ Equity
Common stock, $0.001 par value, 75,000,000 shares authorized; 7,295,000 and 6,000,000 shares issued and outstanding at par		7,295			6,000
Additional paid in capital		24,605			-
Accumulated deficit		(9,412	)		(9,365	)
Total Stockholders’ Equity		22,488			(3,365	)
Total Liabilities and Stockholders’ Equity	$	32,695		$	5,505

The accompanying notes are an integral part of these financial statements.

11

KHEOBA CORP.

STATEMENTS OF OPERATIONS

	Year ended October 31, 2023			Year ended October 31, 2022
REVENUES	$	16,000		$	4,000
OPERATING EXPENSES
General and Administrative Expenses		16,047			12,495
TOTAL OPERATING EXPENSES		16,047			12,495
NET INCOME (LOSS) FROM OPERATIONS		(47	)		(8,495	)
PROVISION FOR INCOME TAXES		-			-
NET INCOME (LOSS)	$	(47	)	$	(8,495	)
NET LOSS PER SHARE: BASIC AND DILUTED	$	(0.00	)	$	(0.00	)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED		6,088,232			6,000,000

The accompanying notes are an integral part of these financial statements.

12

KHEOBA CORP.

STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

	Common Stock				Additional Paid-in		Deficit Accumulated during the Development			Total Stockholders’
	Shares		Amount		Capital		Stage			Equity
Balance, October 31, 2021		6,000,000	$	6,000	$	-	$	(870	)	$	5,130
Net loss for the year ended October 31, 2022		-		-		-		(8,495	)		(8,495	)
Balance, October 31, 2022		6,000,000	$	6,000	$	-	$	(9,365	)	$	(3,365	)
Common shares issued for cash		1,295,000		1,295		24,605		-			25,900
Net income (loss) for the year ended October 31, 2023		-		-		-		(47	)		(47	)
Balance, October 31, 2023		7,295,000	$	7,295	$	24,605	$	(9,412	)	$	22,488

The accompanying notes are an integral part of these financial statements.

13

KHEOBA CORP.

STATEMENTS OF CASH FLOWS

	Year ended			Year ended
	October 31, 2023			October 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	(47	)	$	(8,495	)
Adjustments to reconcile Net Income to net cash provided by operations:
Depreciation Expense		583			-
Deferred Revenue		3,300			-
Prepaid Expenses		(13,000	)		-
Accounts payable		(1,963	)		4,500
CASH FLOWS PROVIDED (USED) IN OPERATING ACTIVITIES		(11,127	)		(3,995	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the Sale of Common Stock		25,900			-
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES		25,900			-
Net increase (decrease) in cash and equivalents		14,773			(3,995	)
Cash and equivalents at beginning of the period		2,005			6,000
Cash and equivalents at end of the period	$	16,778		$	2,005
Supplemental cash flow information:
Cash paid for:
Interest	$	-		$	-
Taxes	$	-		$	-

The accompanying notes are an integral part of these financial statements.

14

KHEOBA CORP.

NOTES TO THE AUDITED FINANCIAL STATEMENTS

YEAR ENDED OCTOBER 31, 2023

NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION

Kheoba Corp. (referred as the “Company”, “we”, “our”) was Incorporated in the State of Nevada and established on July 27, 2021. We are development stage company in software development and travel industry. We are offering group adventures in Georgia, Caucasus mountains region and Tenerife, Spain. We intend to develop and provide an online platform for private and group adventures in Georgia, Caucasus mountains region and Tenerife, Spain. We have launched two websites: https://georgiahikewinetours.com/ and https://tenerifesurfwinetours.com/ to promote our activity. Additionally, we have launched our website (kheoba.com). It is tailored for perspective Kheoba guides.

NOTE 2 – GOING CONCERN

The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.

As reflected in the financial statements, the Company had an accumulated deficit of $9,412 at October 31, 2023, revenue of $16,000 for the year ended October 31, 2023. The Company has Related party loan of $4,370 on the balance sheet at October 31, 2023. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support the Company’s daily operations.  Management intends to raise additional funds by way of a private or public offering.  While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect.  The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering.

The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America.

The Company’s year-end is October 31.

Development Stage Company

The Company is a development stage company as defined in ASC 915 “Development Stage Entities”. The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities.

15

The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents.  The Company issued 6,000,000 common shares for consideration of $6,000 at par value $0.001 to director Gaga Gvenetadze.

The Company owes $4,370 in Related Party Loan currently to director as per incorporation expenses of October 31, 2023.

Website Development Costs

The Company amortizes these costs using the straight-line method over a period of three years, which is the remaining estimated economic life of the costs. At the end of each reporting period, the Company writes down any excess of the unamortized balance over the net realizable value.

In May 2022 the Company capitalized website development costs of $3,500 which will be amortized over three years. As of October 31, 2023, the total amount of website development cost was $3,500 and the amortization expense was $583. The Company expects to recognize amortization expense of $1,167 for the fiscal year ending October 31, 2024, amortization expense of $1,167 for the fiscal year ending October 31, 2025, and amortization expense of $583 for the fiscal year ending October 31, 2026.

During the Website Application and Infrastructure Development Stage, the Company relied on Codification 350-50-25-7, which states “Costs to obtain and register an internet domain shall be capitalized under Section 350-30-25”. Codification 350-50-25-6 states “Costs incurred to purchase software tools, or costs incurred during the application development stage for internally developed tools, shall be capitalized”.

Based on the above, the Company website costs are capitalized.

Fair Value of Financial Instruments

AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

16

These tiers include:

Level 1:	defined as observable inputs such as quoted prices in active markets;
Level 2:	defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
Level 3:	defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.

Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Update (ASU) 2014-09, Revenue from contracts with customers (Topic 606). Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the considerations that the Company expects to receive in exchange for those goods.

The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.

The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery.

We have sold five tourism programs: the "Caucasus Mountains Retreat" tour service, which is a 5-day guided tour at a cost of $550 per person; the "Old Tbilisi One Day Tour" at a cost of $50 per person; and the "Old Tbilisi 3 Days Tour" at a cost of $200 per person. Our main selling program is the Caucasus Mountains Retreat.

At our company, customers pay us for our guided tours, which are thoughtfully designed to include tailored sightseeing, immersive local experiences, and a range of outdoor activities. We have curated a network of trusted providers who specialize in offering high-quality meals, comfortable accommodation, and convenient transportation. Customers have the flexibility to select and pay for these services directly with the respective providers, in addition to the tour fee they pay to our company.

The tour includes customized tourist attractions and viewpoints in the Caucasus Mountains region. The company can arrange comfortable accommodations for the duration of the tour, such as hotels or lodges situated in picturesque locations near the Caucasus Mountains. The company handles transportation logistics, including airport transfers and transportation between various destinations throughout the tour. As stated, the tour is guided, so the company provides experienced guides who are knowledgeable about the region's history, culture, and natural beauty. The company organizes suitable activities for participants, taking into account their preferences and fitness levels.

17

The company can organize breakfast, lunch, and dinner at selected restaurants or provide packed meals for outdoor excursions, ensuring that participants have access to nourishing and delicious food. Our company provides customer support throughout the tour, addressing any concerns or issues that participants may have.

In determining the transaction price, we utilize various sources of information, including historical data, market conditions, contractual terms, customer-specific factors, and estimates of variable consideration, where applicable. These considerations enable us to make a reasonable estimate of the transaction price based on the information available at the time of revenue recognition. The transaction price is contractual. No other party can recognize revenue or issue refunds because the Kheoba director is the only party involved. Based on fair market price we allocate the transaction price as follows: 20% is planning/arranging, 30% is assistance and 50% is guide service. 

The Company collects payment from customers before the service is provided. When deposits are collected before the service is provided, the Company recognizes deferred income until the customer signs the act of acceptance. The Our performance obligation to plan and arrange trip are met when we finished with planning and arranging for the customers. Our performance obligation to perform assistance during the tour if needed is met when the tour is over in case no assistance is requested. Our obligation to perform the guided tours is met when we finish the guided tour and indication that guided tour is finished is signed by customers the act of acceptance of our services. The company determines that the obligation for guided tour is satisfied when the customer signs the act of acceptance. We consider the signing of the act of acceptance as the point in time when promised services is transferred to the customer. As of October 31, 2023 and 2022, deferred revenue was $3,300 and $0, respectively.

Revenue Concentration

The following is a summary of customers that represent greater than 10% of total sales for the periods presented:

	October 31,
	2023			2022
Customer A		-			100	%
Customer B		14	%		-
Customer C		26	%		-
Customer D		19	%		-
Customer E		21	%		-
Customer F		21	%		-

For the years ended October 31, 2023 and 2022, revenue concentration was low due to the fact that our customers are not regular customers.

Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

As of October 31, 2023, there were no potentially dilutive debt or equity instruments issued or outstanding.

18

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Recent Accounting Pronouncements

Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.

NOTE 4 – LOAN FROM DIRECTOR

As of October 31, 2023, the Company owed $4,370 to the Company’s sole director, Gaga Gvenetadze for the Company’s working capital purposes. The amount is outstanding and payable upon request.

NOTE 5 – COMMON STOCK

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

On August 1, 2021 the Company issued 6,000,000 shares of common stock to a director for consideration of $6,000 at par value $0.001 per share.

During September 2023 the Company issued 427,000 shares of common stock for cash proceeds of $8,540 at $0.02 per share.

During October 2023 the Company issued 868,000 shares of common stock for cash proceeds of $17,360 at $0.02 per share.

There were 7,295,000 shares of common stock issued and outstanding as of October 31, 2023.

NOTE 6 – COMMITMENTS AND CONTINGENCIES

Our sole officer and director, Gaga Gvenetadze, has agreed to provide his own premise under office needs. He will not take any fee for these premises; it is for free use.

NOTE 7 – INCOME TAXES

The components of the Company’s provision for federal income tax for the year ended October 31, 2023 and the year ended October 31, 2022 consists of the following:

	October 31, 2023			October 31, 2022
Federal income tax benefit attributable to:
Current operations	$	9,412		$	9,365
Less: valuation allowance		(9,412	)		(9,365	)
Net provision for federal income taxes	$	-		$	-

19

The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows:

	October 31, 2023			October 31, 2022
Deferred tax asset attributable to:
Net operating loss carryover	$	1,977		$	1,967
Less: valuation allowance		(1,977	)		(1,967	)
Net deferred tax asset	$	-		$	-

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $9,412 as of October 31, 2023, for federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years.

NOTE 8 – SUBSEQUENT EVENTS

In accordance with ASC 855-10 the Company has analyzed its operations subsequent to October 31, 2023 through January 30, 2024, and has determined that it does not have any material subsequent events to disclose in these financial statements other than those described below.

During November 2023 the Company issued 797,000 shares of common stock for cash proceeds of $15,940 at $0.02 per share.

20

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

Management’s Report on Internal Control over Financial Reporting

Management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f)). The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Company conducted an evaluation of the effectiveness of the Company’s internal control over financial reporting as of October 31, 2023, using the criteria established in “Internal Control - Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO - 2013").

A material weakness is a deficiency, or 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. In its assessment of the effectiveness of internal control over financial reporting as of October 31, 2023, the Company determined that there were control deficiencies that constituted material weaknesses, as described below.

1. The Company does not have an adequate internal control structure or adequate oversight over financial reporting – The Company has only one member of management whom is also the Company’s sole director, therefore the Company lacks adequate segregation of duties. Further, the Company currently has no Audit Committee. While not being legally obligated to have an audit committee, it is the management’s view that such a committee, including a financial expert member, is an utmost important entity level control over the Company’s financial statement. Currently the Board of Directors acts in the capacity of the Audit Committee, and does not include a member that is considered to be independent of management to provide the necessary oversight over management’s activities. Lastly, due to the minimal operations and small size of the Company we have not employed individuals that have the necessary accounting knowledge and expertise to ensure accurate financial reporting under US GAAP.

2. The Company lacks appropriate information technology controls – As of October 31, 2023, the Company retains copies of all financial data and material agreements; however, there is no formal procedure or evidence of normal backup of the Company’s data or off-site storage of data in the event of theft, misplacement, or loss due to unmitigated factors.

21

Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.

As a result of the material weaknesses described above, management has concluded that the Company did not maintain effective internal control over financial reporting as of October 31, 2023 based on criteria established in Internal Control-Integrated Framework issued by COSO.

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Controls over Financial Reporting

There has been no change in our internal control over financial reporting occurred during the year ended October 31, 2023, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Item 9B. Other Information.

None

22

PART III

Item 10. Directors, Executive Officers, and Control Persons of the Company

DIRECTORS, EXECUTIVE OFFICERS, AND CONTROL PERSONS

The names, ages and titles of our executive officers and directors are as follows:

Name and Address of Executive Officer and/or Director	Age	Positions
Gaga Gvenetadze 24 Vazha-Pshavela St., Tbilisi, Georgia 0105	29	President, Secretary, Treasurer and Director

Set forth below is a brief description of the background and business experience of our executive officers and directors for the past five years.

Gaga Gvenetadze

Gaga Gvenetadze has acted as our President, Secretary, Treasurer and sole Director since our incorporation on July 27, 2021. Mr. Gvenetadze owns 100% of the outstanding shares of our common stock. As such, it was unilaterally decided that Mr. Gvenetadze was going to be our sole President, Chief Executive Officer, Treasurer, and Chief Financial Officer, Chief Accounting Officer, Secretary and sole member of our board of directors. Mr. Gvenetadze has a master’s degree from Georgian Technical University, Faculty of Informatics and Control Systems in 2017. Since 2015 till 2020, he worked as a team lead software developer for “Evolution Gaming”, LLC. Since 2020 he has been working as a freelance software developer. We believe that Mr. Gvenetadze’s specific experience, qualifications and skills will enable to develop our business.

23

During the past ten years, Mr. Gvenetadze has not been the subject to any of the following events:

1. Any bankruptcy petition filed by or against any business of which Mr. Gvenetadze was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time.

2. Any conviction in a criminal proceeding or being subject to a pending criminal proceeding.

3. An order, judgment, or decree, not subsequently reversed, suspended or vacated, or any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting Mr. Gvenetadze’s involvement in any type of business, securities or banking activities.

4. Found by a court of competent jurisdiction (in a civil action), the Securities and Exchange Commission or the Commodity Future Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated.

5. Was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right to engage in any activity described in paragraph (f)(3)(i) of this section, or to be associated with persons engaged in any such activity;

6.  Was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;

7.  Was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:

i. Any Federal or State securities or commodities law or regulation; or

ii. Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or

iii. Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

8. Was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

DIRECTOR INDEPENDENCE

We are not required to have independent members of our Board of Directors, and do not anticipate having independent Directors until such time as we are required to do so. 

INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS

No director, executive officer, significant employee or control person of the Company has been involved in any legal proceeding listed in Item 401(f) of Regulation S-K in the past 10 years.

AUDIT COMMITTEE, COMPENSATION COMMITTEE, AND FINANCIAL EXPERT

Our Company currently does not have nominating, compensation or audit committees or committees performing similar functions, nor does our Company have a written nominating, compensation or audit committee charter. Our Directors believe that it is not necessary to have such committees, at this time, because the functions of such committees can be adequately performed by the sole director.

24

Our Company does not have any defined policy or procedural requirements for shareholders to submit recommendations or nominations for Directors. The sole director believes that, given the stage of our development, a specific nominating policy would be premature and of little assistance until our business operations develop to a more advanced level. Our Company does not currently have any specific or minimum criteria for the election of nominees to the sole director and we do not have any specific process or procedure for evaluating such nominees. The sole director will assess all candidates, whether submitted by management or shareholders, and make recommendations for election or appointment.

A shareholder who wishes to communicate with our sole director may do so by directing a written request addressed to our president and director, at the address appearing on the first page of this prospectus.

CODE OF ETHICS

The Company has not adopted a formal written code of ethics due to the small size of the organization and start-up nature, along with the fact that the Company’s sole employee is also the sole member of management and sole director. 

Item 11. Executive Compensation

EXECUTIVE COMPENSATION SUMMARY COMPENSATION TABLE

The following table sets forth information regarding each element of compensation that we paid or awarded to our named executive officers for fiscal years October 31, 2023 and 2022:

Name and Principal Position	Period	Salary ($)		Bonus ($)		Stock Awards ($)*		Option Awards ($)*		Non-Equity Incentive Plan Compensation ($)		Nonqualified Deferred Compensation ($)		All Other Compensation ($)		Total ($)
Gaga Gvenetadze, President,	2023		0		0		0		0		0		0		0		0
Director, Treasurer and Secretary	2022		0		0		0		0		0		0		0		0

Our sole officer and director has not received monetary compensation since our inception to the date of this Form 10-K. We currently do not pay any compensation to any officer or any member of our board of directors.

EMPLOYMENT AGREEMENTS

There are no current employment agreements between the company and its officers.   

Mr. Gvenetadze currently devotes approximately twenty hours per week to manage the affairs of the Company. He has agreed to work with no remuneration until such time as the company receives sufficient revenues necessary to provide management salaries. At this time, we cannot accurately estimate when sufficient revenues will occur to implement this compensation, or what the amount of the compensation will be.

There are no annuity, pension or retirement benefits proposed to be paid to the officer or director or employees in the event of retirement at normal retirement date pursuant to any presently existing plan provided or contributed to by the company or any of its subsidiaries, if any.

25

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The following table lists, as of the date of this form 10-K, the number of shares of common stock of our Company that are beneficially owned by (i) each person or entity known to our Company to be the beneficial owner of more than 5% of the outstanding common stock; (ii) each officer and director of our Company; and (iii) all officers and directors as a group. Information relating to beneficial ownership of common stock by our principal shareholders and management is based upon information furnished by each person using "beneficial ownership" concepts under the rules of the Securities and Exchange Commission. Under these rules, a person is deemed to be a beneficial owner of a security if that person has or shares voting power, which includes the power to vote or direct the voting of the security, or investment power, which includes the power to vote or direct the voting of the security. The person is also deemed to be a beneficial owner of any security of which that person has a right to acquire beneficial ownership within 60 days.

Under the Securities and Exchange Commission rules, more than one person may be deemed to be a beneficial owner of the same securities, and a person may be deemed to be a beneficial owner of securities as to which he or she may not have any pecuniary beneficial interest. Except as noted below, each person has sole voting and investment power.

The percentages below are calculated based on 7,295,000 shares of our common stock issued and outstanding as of the date of this Form 10-K. We do not have any outstanding warrant, options or other securities exercisable for or convertible into shares of our common stock.

Title of class	Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership		Percent of Common Stock
Common Stock	Gaga Gvenetadze		6,000,000		82	%

Item 13. Certain Relationships and Related Transactions

On August 1, 2021, we issued a total of 6,000,000 shares of restricted common stock to Gaga Gvenetadze, our sole officer and director in consideration of $6,000.

Further, Mr. Gvenetadze has advanced funds to us. As of October 31, 2023, Mr. Gvenetadze advanced us $4,370. Mr. Gvenetadze will not be repaid from the proceeds of this offering. There is no due date for the repayment of the funds advanced by Mr. Gvenetadze. Mr. Gvenetadze will be repaid from revenues of operations if and when we generate revenues to pay the obligation. There is no assurance that we will ever generate revenues from our operations. The obligation to Mr. Gvenetadze does not bear interest. There is no written agreement evidencing the advancement of funds by Mr. Gvenetadze or the repayment of the funds to Mr. Gvenetadze. The entire transaction was oral.

Item 14. Principal Accountant Fees and Services 

The following table sets forth the fees billed to our company for the years ended October 31, 2023 and 2022 for professional services rendered by FRUCI & ASSOCIATES II, PLLC, the independent auditor:

Fees	2023		2022
Audit Fees	$	11,521	$	11,750
Audit Related Fees		-		-
Tax Fees		-		-
Other Fees		-		-
Total Fees	$	11,521	$	11,750

26

PART IV

Item 15. Exhibits

31.1	Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).
32.1	Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.
101.INS	Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH	Inline XBRL Taxonomy Extension Schema Document.
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB	Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104	Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

27

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized in Tbilisi, Georgia on January 30, 2024.

KHEOBA CORP.
By:	/s/ Gaga Gvenetadze
Name:	Gaga Gvenetadze
Title:	President
	(Principal Executive, Financial and Accounting Officer)

28

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Gaga Gvenetadze, certify that:

1.	I have reviewed this Annual Report Form 10-K of KHEOBA CORP.;
2.	Based on my knowledge, this 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 we 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 over financial reporting 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.

January 30, 2024	By:	/s/ Gaga Gvenetadze
	Name:	Gaga Gvenetadze
	Title:	President, Director and Treasurer
		(Principal Executive, Financial and 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 this Annual Report of KHEOBA CORP., on Form 10-K for the Form 10-K for the year ended October 31, 2023, as filed with the U.S. Securities and Exchange Commission on the date hereof, I,Gaga Gvenetadze, Principal Executive, Financial and Accounting Officer of the Company, certify to the best of my knowledge, pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906 of the Sarbanes-Oxley Act of 2002, that :

(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.

	KHEOBA CORP.
January 30, 2024	By:	/s/ Gaga Gvenetadze
	Name:	Gaga Gvenetadze
	Title:	President, Director and Treasurer
		(Principal Executive, Financial and Accounting Officer)

XML

Cover - USD ($)	12 Months Ended
	Oct. 31, 2023	Jan. 30, 2024
Cover [Abstract]
Entity Registrant Name	KHEOBA CORP.
Entity Central Index Key	0001909770
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--10-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Oct. 31, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Ex Transition Period	true
Entity Common Stock Shares Outstanding		8,092,000
Entity Public Float		$ 0
Entity File Number	333-263020
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	98-1636812
Entity Address Address Line 1	Petonal el Cerezo 8
Entity Address Address Line 2	2A Los Realejos
Entity Address Postal Zip Code	38410
City Area Code	702
Local Phone Number	833-9604
Document Annual Report	true
Document Transition Report	false
Entity Address Country	ES
Entity Interactive Data Current	Yes
Auditor Firm Id	5525
Auditor Name	Fruci & Associates II, PLLC
Auditor Location	Spokane, Washington
Entity Address City Or Town	Tenerife

XML

BALANCE SHEETS - USD ($)	Oct. 31, 2023	Oct. 31, 2022
ASSETS
Cash on hand	$ 16,778	$ 2,005
Prepaid expenses	13,000	0
Total current assets	29,778	2,005
Website Development Costs, Net	2,917	3,500
Total Assets	32,695	5,505
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	2,537	4,500
Deferred revenue	3,300	0
Related party loan	4,370	4,370
Total current liabilities	10,207	8,870
Commitments and Contingencies	0	0
Stockholders' Equity
Common stock, $0.001 par value, 75,000,000 shares authorized; 7,295,000 and 6,000,000 shares issued and outstanding at par	7,295	6,000
Additional paid in capital	24,605	0
Accumulated deficit	(9,412)	(9,365)
Total Stockholders' Equity	22,488	(3,365)
Total Liabilities and Stockholders' Equity	$ 32,695	$ 5,505

XML

BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 31, 2023	Oct. 31, 2022
BALANCE SHEETS
Common stock, par value	$ 0.001	$ 0.0001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	7,295,000	6,000,000
Common stock, shares outstanding	7,295,000	6,000,000

XML

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
STATEMENTS OF OPERATIONS
REVENUES	$ 16,000	$ 4,000
OPERATING EXPENSES
General and Administrative Expenses	16,047	12,495
TOTAL OPERATING EXPENSES	16,047	12,495
NET INCOME (LOSS) FROM OPERATIONS	(47)	(8,495)
PROVISION FOR INCOME TAXES	0	0
NET INCOME (LOSS)	$ (47)	$ (8,495)
NET LOSS PER SHARE: BASIC AND DILUTED	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	6,088,232	6,000,000

XML

STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIT) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Oct. 31, 2021		6,000,000
Balance, amount at Oct. 31, 2021	$ 5,130	$ 6,000	$ 0	$ (870)
Net income (loss) for the year ended	(8,495)	$ 0	0	(8,495)
Balance, shares at Oct. 31, 2022		6,000,000
Balance, amount at Oct. 31, 2022	(3,365)	$ 6,000	0	(9,365)
Net income (loss) for the year ended	(47)	$ 0	0	(47)
Common shares issued for cash, shares		1,295,000
Common shares issued for cash, amount	25,900	$ 1,295	24,605	0
Balance, shares at Oct. 31, 2023		7,295,000
Balance, amount at Oct. 31, 2023	$ 22,488	$ 7,295	$ 24,605	$ (9,412)

XML

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (47)	$ (8,495)
Adjustments to reconcile Net Income to net cash provided by operations:
Depreciation Expense	583	0
Deferred Revenue	3,300	0
Prepaid Expenses	13,000	0
Accounts payable	(1,963)	4,500
CASH FLOWS PROVIDED (USED) IN OPERATING ACTIVITIES	(11,127)	(3,995)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the Sale of Common Stock	25,900	0
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	25,900	0
Net increase (decrease) in cash and equivalents	14,773	(3,995)
Cash and equivalents at beginning of the period	2,005	6,000
Cash and equivalents at end of the period	16,778	2,005
Cash paid for:
Interest	0	0
Taxes	$ 0	$ 0

XML

ORGANIZATION AND BASIS OF PRESENTATION

12 Months Ended

Oct. 31, 2023

ORGANIZATION AND BASIS OF PRESENTATION

ORGANIZATION AND BASIS OF PRESENTATION

NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION

Kheoba Corp. (referred as the “Company”, “we”, “our”) was Incorporated in the State of Nevada and established on July 27, 2021. We are development stage company in software development and travel industry. We are offering group adventures in Georgia, Caucasus mountains region and Tenerife, Spain. We intend to develop and provide an online platform for private and group adventures in Georgia, Caucasus mountains region and Tenerife, Spain. We have launched two websites: https://georgiahikewinetours.com/ and https://tenerifesurfwinetours.com/ to promote our activity. Additionally, we have launched our website (kheoba.com). It is tailored for perspective Kheoba guides.

XML

GOING CONCERN

12 Months Ended

Oct. 31, 2023

GOING CONCERN

GOING CONCERN

NOTE 2 – GOING CONCERN

The Company’s financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.

As reflected in the financial statements, the Company had an accumulated deficit of $9,412 at October 31, 2023, revenue of $16,000 for the year ended October 31, 2023. The Company has Related party loan of $4,370 on the balance sheet at October 31, 2023. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

The Company is attempting to commence operations and generate sufficient revenue; however, the Company’s cash position may not be sufficient to support the Company’s daily operations.  Management intends to raise additional funds by way of a private or public offering.  While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect.  The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering.

The financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Oct. 31, 2023

ORGANIZATION AND BASIS OF PRESENTATION

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America.

The Company’s year-end is October 31.

Development Stage Company

The Company is a development stage company as defined in ASC 915 “Development Stage Entities”. The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities.

The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents.  The Company issued 6,000,000 common shares for consideration of $6,000 at par value $0.001 to director Gaga Gvenetadze.

The Company owes $4,370 in Related Party Loan currently to director as per incorporation expenses of October 31, 2023.

Website Development Costs

The Company amortizes these costs using the straight-line method over a period of three years, which is the remaining estimated economic life of the costs. At the end of each reporting period, the Company writes down any excess of the unamortized balance over the net realizable value.

In May 2022 the Company capitalized website development costs of $3,500 which will be amortized over three years. As of October 31, 2023, the total amount of website development cost was $3,500 and the amortization expense was $583. The Company expects to recognize amortization expense of $1,167 for the fiscal year ending October 31, 2024, amortization expense of $1,167 for the fiscal year ending October 31, 2025, and amortization expense of $583 for the fiscal year ending October 31, 2026.

During the Website Application and Infrastructure Development Stage, the Company relied on Codification 350-50-25-7, which states “Costs to obtain and register an internet domain shall be capitalized under Section 350-30-25”. Codification 350-50-25-6 states “Costs incurred to purchase software tools, or costs incurred during the application development stage for internally developed tools, shall be capitalized”.

Based on the above, the Company website costs are capitalized.

Fair Value of Financial Instruments

AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1:	defined as observable inputs such as quoted prices in active markets;
Level 2:	defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
Level 3:	defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.

Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Update (ASU) 2014-09, Revenue from contracts with customers (Topic 606). Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the considerations that the Company expects to receive in exchange for those goods.

The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.

The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery.

We have sold five tourism programs: the "Caucasus Mountains Retreat" tour service, which is a 5-day guided tour at a cost of $550 per person; the "Old Tbilisi One Day Tour" at a cost of $50 per person; and the "Old Tbilisi 3 Days Tour" at a cost of $200 per person. Our main selling program is the Caucasus Mountains Retreat.

At our company, customers pay us for our guided tours, which are thoughtfully designed to include tailored sightseeing, immersive local experiences, and a range of outdoor activities. We have curated a network of trusted providers who specialize in offering high-quality meals, comfortable accommodation, and convenient transportation. Customers have the flexibility to select and pay for these services directly with the respective providers, in addition to the tour fee they pay to our company.

The tour includes customized tourist attractions and viewpoints in the Caucasus Mountains region. The company can arrange comfortable accommodations for the duration of the tour, such as hotels or lodges situated in picturesque locations near the Caucasus Mountains. The company handles transportation logistics, including airport transfers and transportation between various destinations throughout the tour. As stated, the tour is guided, so the company provides experienced guides who are knowledgeable about the region's history, culture, and natural beauty. The company organizes suitable activities for participants, taking into account their preferences and fitness levels.

The company can organize breakfast, lunch, and dinner at selected restaurants or provide packed meals for outdoor excursions, ensuring that participants have access to nourishing and delicious food. Our company provides customer support throughout the tour, addressing any concerns or issues that participants may have.

In determining the transaction price, we utilize various sources of information, including historical data, market conditions, contractual terms, customer-specific factors, and estimates of variable consideration, where applicable. These considerations enable us to make a reasonable estimate of the transaction price based on the information available at the time of revenue recognition. The transaction price is contractual. No other party can recognize revenue or issue refunds because the Kheoba director is the only party involved. Based on fair market price we allocate the transaction price as follows: 20% is planning/arranging, 30% is assistance and 50% is guide service. 

The Company collects payment from customers before the service is provided. When deposits are collected before the service is provided, the Company recognizes deferred income until the customer signs the act of acceptance. The Our performance obligation to plan and arrange trip are met when we finished with planning and arranging for the customers. Our performance obligation to perform assistance during the tour if needed is met when the tour is over in case no assistance is requested. Our obligation to perform the guided tours is met when we finish the guided tour and indication that guided tour is finished is signed by customers the act of acceptance of our services. The company determines that the obligation for guided tour is satisfied when the customer signs the act of acceptance. We consider the signing of the act of acceptance as the point in time when promised services is transferred to the customer. As of October 31, 2023 and 2022, deferred revenue was $3,300 and $0, respectively.

Revenue Concentration

The following is a summary of customers that represent greater than 10% of total sales for the periods presented:

	October 31,
	2023			2022
Customer A		-			100	%
Customer B		14	%		-
Customer C		26	%		-
Customer D		19	%		-
Customer E		21	%		-
Customer F		21	%		-

For the years ended October 31, 2023 and 2022, revenue concentration was low due to the fact that our customers are not regular customers.

Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

As of October 31, 2023, there were no potentially dilutive debt or equity instruments issued or outstanding.

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Recent Accounting Pronouncements

Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.

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LOAN FROM DIRECTOR

12 Months Ended

Oct. 31, 2023

LOAN FROM DIRECTOR

LOAN FROM DIRECTOR

NOTE 4 – LOAN FROM DIRECTOR

As of October 31, 2023, the Company owed $4,370 to the Company’s sole director, Gaga Gvenetadze for the Company’s working capital purposes. The amount is outstanding and payable upon request.

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COMMON STOCK

12 Months Ended

Oct. 31, 2023

COMMON STOCK

COMMON STOCK

NOTE 5 – COMMON STOCK

The Company has 75,000,000, $0.001 par value shares of common stock authorized.

On August 1, 2021 the Company issued 6,000,000 shares of common stock to a director for consideration of $6,000 at par value $0.001 per share.

During September 2023 the Company issued 427,000 shares of common stock for cash proceeds of $8,540 at $0.02 per share.

During October 2023 the Company issued 868,000 shares of common stock for cash proceeds of $17,360 at $0.02 per share.

There were 7,295,000 shares of common stock issued and outstanding as of October 31, 2023.

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COMMITMENTS AND CONTINGENCIES

12 Months Ended

Oct. 31, 2023

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

NOTE 6 – COMMITMENTS AND CONTINGENCIES

Our sole officer and director, Gaga Gvenetadze, has agreed to provide his own premise under office needs. He will not take any fee for these premises; it is for free use.

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INCOME TAXES

12 Months Ended

Oct. 31, 2023

INCOME TAXES

INCOME TAXES

NOTE 7 – INCOME TAXES

The components of the Company’s provision for federal income tax for the year ended October 31, 2023 and the year ended October 31, 2022 consists of the following:

	October 31, 2023			October 31, 2022
Federal income tax benefit attributable to:
Current operations	$	9,412		$	9,365
Less: valuation allowance		(9,412	)		(9,365	)
Net provision for federal income taxes	$	-		$	-

The cumulative tax effect at the expected rate of 21% of significant items comprising our net deferred tax amount is as follows:

	October 31, 2023			October 31, 2022
Deferred tax asset attributable to:
Net operating loss carryover	$	1,977		$	1,967
Less: valuation allowance		(1,977	)		(1,967	)
Net deferred tax asset	$	-		$	-

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $9,412 as of October 31, 2023, for federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years.

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SUBSEQUENT EVENTS

12 Months Ended

Oct. 31, 2023

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 8 – SUBSEQUENT EVENTS

In accordance with ASC 855-10 the Company has analyzed its operations subsequent to October 31, 2023 through January 30, 2024, and has determined that it does not have any material subsequent events to disclose in these financial statements other than those described below.

During November 2023 the Company issued 797,000 shares of common stock for cash proceeds of $15,940 at $0.02 per share.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Oct. 31, 2023

ORGANIZATION AND BASIS OF PRESENTATION

Basis of Presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America.

The Company’s year-end is October 31.

Development Stage Company

The Company is a development stage company as defined in ASC 915 “Development Stage Entities”. The Company is devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception have been considered as part of the Company's development stage activities.

The Company has elected to adopt application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. Upon adoption, the Company no longer presents or discloses inception-to-date information and other remaining disclosure requirements of Topic 915.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents.  The Company issued 6,000,000 common shares for consideration of $6,000 at par value $0.001 to director Gaga Gvenetadze.

The Company owes $4,370 in Related Party Loan currently to director as per incorporation expenses of October 31, 2023.

Website Development Costs

The Company amortizes these costs using the straight-line method over a period of three years, which is the remaining estimated economic life of the costs. At the end of each reporting period, the Company writes down any excess of the unamortized balance over the net realizable value.

In May 2022 the Company capitalized website development costs of $3,500 which will be amortized over three years. As of October 31, 2023, the total amount of website development cost was $3,500 and the amortization expense was $583. The Company expects to recognize amortization expense of $1,167 for the fiscal year ending October 31, 2024, amortization expense of $1,167 for the fiscal year ending October 31, 2025, and amortization expense of $583 for the fiscal year ending October 31, 2026.

During the Website Application and Infrastructure Development Stage, the Company relied on Codification 350-50-25-7, which states “Costs to obtain and register an internet domain shall be capitalized under Section 350-30-25”. Codification 350-50-25-6 states “Costs incurred to purchase software tools, or costs incurred during the application development stage for internally developed tools, shall be capitalized”.

Based on the above, the Company website costs are capitalized.

Fair Value of Financial Instruments

AS topic 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1:	defined as observable inputs such as quoted prices in active markets;
Level 2:	defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
Level 3:	defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.

Revenue Recognition

The Company recognizes revenue in accordance with Accounting Standards Update (ASU) 2014-09, Revenue from contracts with customers (Topic 606). Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the considerations that the Company expects to receive in exchange for those goods.

The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.

The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery.

We have sold five tourism programs: the "Caucasus Mountains Retreat" tour service, which is a 5-day guided tour at a cost of $550 per person; the "Old Tbilisi One Day Tour" at a cost of $50 per person; and the "Old Tbilisi 3 Days Tour" at a cost of $200 per person. Our main selling program is the Caucasus Mountains Retreat.

At our company, customers pay us for our guided tours, which are thoughtfully designed to include tailored sightseeing, immersive local experiences, and a range of outdoor activities. We have curated a network of trusted providers who specialize in offering high-quality meals, comfortable accommodation, and convenient transportation. Customers have the flexibility to select and pay for these services directly with the respective providers, in addition to the tour fee they pay to our company.

The tour includes customized tourist attractions and viewpoints in the Caucasus Mountains region. The company can arrange comfortable accommodations for the duration of the tour, such as hotels or lodges situated in picturesque locations near the Caucasus Mountains. The company handles transportation logistics, including airport transfers and transportation between various destinations throughout the tour. As stated, the tour is guided, so the company provides experienced guides who are knowledgeable about the region's history, culture, and natural beauty. The company organizes suitable activities for participants, taking into account their preferences and fitness levels.

The company can organize breakfast, lunch, and dinner at selected restaurants or provide packed meals for outdoor excursions, ensuring that participants have access to nourishing and delicious food. Our company provides customer support throughout the tour, addressing any concerns or issues that participants may have.

In determining the transaction price, we utilize various sources of information, including historical data, market conditions, contractual terms, customer-specific factors, and estimates of variable consideration, where applicable. These considerations enable us to make a reasonable estimate of the transaction price based on the information available at the time of revenue recognition. The transaction price is contractual. No other party can recognize revenue or issue refunds because the Kheoba director is the only party involved. Based on fair market price we allocate the transaction price as follows: 20% is planning/arranging, 30% is assistance and 50% is guide service. 

The Company collects payment from customers before the service is provided. When deposits are collected before the service is provided, the Company recognizes deferred income until the customer signs the act of acceptance. The Our performance obligation to plan and arrange trip are met when we finished with planning and arranging for the customers. Our performance obligation to perform assistance during the tour if needed is met when the tour is over in case no assistance is requested. Our obligation to perform the guided tours is met when we finish the guided tour and indication that guided tour is finished is signed by customers the act of acceptance of our services. The company determines that the obligation for guided tour is satisfied when the customer signs the act of acceptance. We consider the signing of the act of acceptance as the point in time when promised services is transferred to the customer. As of October 31, 2023 and 2022, deferred revenue was $3,300 and $0, respectively.

Revenue Concentration

The following is a summary of customers that represent greater than 10% of total sales for the periods presented:

	October 31,
	2023			2022
Customer A		-			100	%
Customer B		14	%		-
Customer C		26	%		-
Customer D		19	%		-
Customer E		21	%		-
Customer F		21	%		-

For the years ended October 31, 2023 and 2022, revenue concentration was low due to the fact that our customers are not regular customers.

Income Taxes

Income taxes are computed using the asset and liability method.  Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws.  A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Basic Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

As of October 31, 2023, there were no potentially dilutive debt or equity instruments issued or outstanding.

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718.  To date, the Company has not adopted a stock option plan and has not granted any stock options.

Recent Accounting Pronouncements

Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Table)

12 Months Ended

Oct. 31, 2023

ORGANIZATION AND BASIS OF PRESENTATION

Summary of revenue concentration

	October 31,
	2023			2022
Customer A		-			100	%
Customer B		14	%		-
Customer C		26	%		-
Customer D		19	%		-
Customer E		21	%		-
Customer F		21	%		-

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INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2023

INCOME TAXES

Schedule of provision for federal income tax

	October 31, 2023			October 31, 2022
Federal income tax benefit attributable to:
Current operations	$	9,412		$	9,365
Less: valuation allowance		(9,412	)		(9,365	)
Net provision for federal income taxes	$	-		$	-

Schedule of deferred tax asset

	October 31, 2023			October 31, 2022
Deferred tax asset attributable to:
Net operating loss carryover	$	1,977		$	1,967
Less: valuation allowance		(1,977	)		(1,967	)
Net deferred tax asset	$	-		$	-

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GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
GOING CONCERN
Related party loan	$ 4,370	$ 4,370
Accumulated deficit	9,412
Revenues	$ 16,000	$ 4,000

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Customer B [Member]
Revenue Concentration	14.00%	0.00%
Customer A [Member]
Revenue Concentration	0.00%	100.00%
Customer C [Member]
Revenue Concentration	26.00%	0.00%
Customer D [Member]
Revenue Concentration	19.00%	0.00%
Customer E [Member]
Revenue Concentration	21.00%	0.00%
Customer F [Member]
Revenue Concentration	21.00%	0.00%

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)			12 Months Ended
	Aug. 01, 2021	Aug. 01, 2021	Oct. 31, 2023	Oct. 31, 2022	Sep. 30, 2023	May 31, 2022
2024			$ 1,167
2025			1,167
2026			583
Amortization expense for remainder of fiscal year			583
Revenue			16,000	$ 4,000
Capitalized website development costs			3,500			$ 3,500
Deferred revenue			$ 3,300	$ 0
Share price	$ 0.001	$ 0.001	$ 0.02		$ 0.02
5 Day Guide Tour [Member]
Revenue			$ 550
Old Tbilisi One Day Tour [Member]
Revenue			50
Old Tbilisi 3 Days Tour [Member]
Revenue			$ 200
Director [Member]
Common shares issued for consideration, shares	6,000,000	6,000,000	6,000,000
Common shares issued for consideration, value	$ 6,000	$ 6,000	$ 6,000
Share price	$ 0.001	$ 0.001	$ 0.001
Related party loan			$ 4,370

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LOAN FROM DIRECTOR (Details Narrative) - USD ($)	Oct. 31, 2023	Oct. 31, 2022
LOAN FROM DIRECTOR
Related party loan	$ 4,370	$ 4,370

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COMMON STOCK (Details Narrative) - USD ($)			1 Months Ended		12 Months Ended
	Aug. 01, 2021	Aug. 01, 2021	Oct. 31, 2023	Sep. 30, 2023	Oct. 31, 2023	Oct. 31, 2022
Common Stock, Shares Authorized			75,000,000		75,000,000	75,000,000
Common Stock, Par Value			$ 0.001		$ 0.001	$ 0.0001
Common stock, shares issued			7,295,000		7,295,000	6,000,000
Common shares outstanding			7,295,000		7,295,000	7,295,000
Share price	$ 0.001	$ 0.001	$ 0.02	$ 0.02	$ 0.02
Stock issued during period, shares			868,000	427,000
Proceeds from issuance of common stock			$ 17,360	$ 8,540	$ 25,900	$ 0
Director [Member]
Share price	$ 0.001	$ 0.001	$ 0.001		$ 0.001
Stock issued during period, shares	6,000,000	6,000,000			6,000,000
Stock issued during period, value	$ 6,000	$ 6,000			$ 6,000

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INCOME TAXES (Details) - USD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Federal income tax benefit attributable to:
Current operations	$ 9,412	$ 9,365
Less: valuation allowance	(9,412)	(9,365)
Net provision for federal income taxes	$ 0	$ 0

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INCOME TAXES (Details 1) - USD ($)	Oct. 31, 2023	Oct. 31, 2022
Deferred tax asset attributable to:
Net operating loss carryover	$ 1,977	$ 1,967
Less: valuation allowance	(1,977)	(1,967)
Net deferred tax asset	$ 0	$ 0

XML

INCOME TAXES (Details Narrative)	12 Months Ended
	Oct. 31, 2023 USD ($)
INCOME TAXES
Federal income tax	$ 9,412

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SUBSEQUENT EVENTS (Details Narrative) - Subsequent events [Member]	1 Months Ended
	Nov. 30, 2023 USD ($) $ / shares shares
Share price | $ / shares	$ 0.02
Stock issued during period, shares | shares	797,000
Proceeds from issuance of common stock | $	$ 15,940