2025 Q1 Form 10-K Financial Statement
#000149315225003478 Filed on January 24, 2025
Income Statement
Concept | 2025 Q1 | 2024 Q4 | 2024 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | $16.71K | ||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | |||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | |||
YoY Change | |||
Operating Profit | |||
YoY Change | |||
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | -$62.11K | ||
YoY Change | -87.59% | ||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$62.11K | ||
YoY Change | -87.59% | ||
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | ||
Diluted Earnings Per Share | $0.00 | ||
COMMON SHARES | |||
Basic Shares Outstanding | 154.4M shares | 154.4M shares | |
Diluted Shares Outstanding | 154.4M shares |
Balance Sheet
Concept | 2025 Q1 | 2024 Q4 | 2024 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $570.00 | ||
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $3.540K | ||
YoY Change | -46.85% | ||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | ||
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $3.540K | ||
Total Long-Term Assets | $0.00 | ||
Total Assets | $3.540K | ||
YoY Change | -46.85% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | |||
YoY Change | |||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $94.56K | ||
YoY Change | 165.88% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | |||
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $94.56K | ||
Total Long-Term Liabilities | |||
Total Liabilities | |||
YoY Change | |||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.534M | ||
YoY Change | 4.22% | ||
Common Stock | $15.44K | ||
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$91.02K | ||
YoY Change | |||
Total Liabilities & Shareholders Equity | $3.540K | ||
YoY Change | -46.85% |
Cashflow Statement
Concept | 2025 Q1 | 2024 Q4 | 2024 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$62.11K | ||
YoY Change | -87.59% | ||
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$70.30K | ||
YoY Change | -86.03% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $68.99K | ||
YoY Change | -86.32% | ||
NET CHANGE | |||
Cash From Operating Activities | -$70.30K | ||
Cash From Investing Activities | |||
Cash From Financing Activities | $68.99K | ||
Net Change In Cash | -$1.304K | ||
YoY Change | -221.08% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$70.30K | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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2024-10-31 | |
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GLOBAL LEADERS CORP. | |
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Entity Incorporation State Country Code
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NV | |
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Entity Tax Identification Number
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65-0386288 | |
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8102 3633 | |
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Entity Well Known Seasoned Issuer
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No | |
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Entity Voluntary Filers
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Entity Current Reporting Status
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Yes | |
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Entity Public Float
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Entity Common Stock Shares Outstanding
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154394750 | shares |
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Auditor Firm
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572 | |
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Weinberg & Company, P.A. | |
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Los Angeles, California | |
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Preferred Stock Par Or Stated Value Per Share
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Preferred Stock Shares Authorized
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200000000 | shares |
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Preferred Stock Shares Authorized
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200000000 | shares |
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Common Stock Par Or Stated Value Per Share
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Common Stock Par Or Stated Value Per Share
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0.0001 | |
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Common Stock Shares Authorized
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600000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
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600000000 | shares |
CY2024Q4 | us-gaap |
Common Stock Shares Issued
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Common Stock Shares Outstanding
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Common Stock Shares Issued
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Common Stock Shares Outstanding
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Common Stock Value
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Common Stock Value
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Additional Paid In Capital
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Additional Paid In Capital
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|
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Accumulated Other Comprehensive Income Loss Net Of Tax
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|
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Accumulated Other Comprehensive Income Loss Net Of Tax
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Retained Earnings Accumulated Deficit
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Retained Earnings Accumulated Deficit
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Stockholders Equity
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|
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Stockholders Equity
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Liabilities And Stockholders Equity
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Liabilities And Stockholders Equity
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Cost Of Revenue
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Earnings Per Share Basic
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|
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Earnings Per Share Diluted
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-0.00 | |
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Earnings Per Share Basic
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-0.00 | |
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Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.00 | |
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Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
154394750 | shares |
CY2024 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
154394750 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
154365315 | shares |
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Weighted Average Number Of Diluted Shares Outstanding
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|
154365315 | shares |
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Stockholders Equity
StockholdersEquity
|
-63459 | usd |
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Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
535000 | usd |
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Net Income Loss
NetIncomeLoss
|
-500444 | usd |
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Stockholders Equity
StockholdersEquity
|
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Stockholders Equity
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|
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Stockholders Equity
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Stockholders Equity
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Net Income Loss
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Net Cash Provided By Used In Operating Activities
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|
-70297 | usd |
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Net Cash Provided By Used In Operating Activities
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|
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Proceeds From Repayments Of Related Party Debt
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Proceeds From Repayments Of Related Party Debt
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CY2024 | GLCP |
Repayment Of Advances From Officerprincipal Shareholder
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Repayment Of Advances From Officerprincipal Shareholder
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|
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Net Cash Provided By Used In Financing Activities
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|
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Net Cash Provided By Used In Financing Activities
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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1077 | usd |
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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|
1874 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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|
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CY2024Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
570 | usd |
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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|
1874 | usd |
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Net Income Loss
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|
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Net Cash Provided By Used In Operating Activities
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|
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Use Of Estimates
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<p id="xdx_84E_eus-gaap--UseOfEstimates_zzEthnofC0H9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of estimates</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting year. Actual results could differ from those estimates. Significant estimates include estimates for the accrual of potential liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
0 | usd |
CY2024Q4 | us-gaap |
Cash
Cash
|
570 | usd |
CY2023Q4 | us-gaap |
Cash
Cash
|
1874 | usd |
CY2024 | us-gaap |
Advertising Expense
AdvertisingExpense
|
0 | usd |
CY2023 | us-gaap |
Advertising Expense
AdvertisingExpense
|
16078 | usd |
CY2024 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84C_eus-gaap--ConcentrationRiskCreditRisk_zvMjvXQ2R0Tl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentrations</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended October 31, 2024, two customers accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20241031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zWhAunhJehS4">32</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% (<span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20241031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_z04tgrwVIWw2">16</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% each) of the Company’s revenue. </span>For the year ended October 31, 2023, five customers accounted for <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20231031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveCustomersMember_zs9ILMaS6FSl">100</span>% (one customer for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20231031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zcg1QM0Oq7c8">28</span>%, and four customers for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20231031__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveCustomerMember_zW5hpC1OzTrc">18</span>% each) of the Company’s revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the year ended October 31, 2024, one vendor accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20241031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorsMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostsAndExpensesMember_zROuGvMgMFo9" title="Concentration risk percentage">100</span>% of the Company’s cost of service revenues.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the years ended October 31, 2024, and 2023, three vendors accounted for <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20241031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--ThreeVendorsMember_zBBiljPXfB45" title="Concentration risk percentage">86</span>% (<span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20241031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorOneMember_zIpu1IVZDEw2" title="Concentration risk percentage">39</span>%, <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20241031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorTwoMember_zp1Ost3rcZe2" title="Concentration risk percentage">35</span>% and <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231101__20241031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorThreeMember_zdgHyhVyegJ2" title="Concentration risk percentage">12</span>%) and two vendors accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20231031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--TwoVendorsMember_zrwYAPyRDdW8" title="Concentration risk percentage">75</span>% (<span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20231031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorOneMember_zdumoHig4D97" title="Concentration risk percentage">65</span>% and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20221101__20231031__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--OperatingExpenseMember__us-gaap--ShareBasedGoodsAndNonemployeeServicesTransactionBySupplierAxis__custom--VendorTwoMember_zWnyyMd1P887" title="Concentration risk percentage">10</span>%) of the Company’s operating expenses, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2024 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-62113 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-500444 | usd |
CY2024 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2024 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-13044 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-105093 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
13044 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
105093 | usd |
CY2024Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
267703 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
254659 | usd |
CY2024Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
267703 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
254659 | usd |
CY2024Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
267703 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
254659 | usd |
CY2024Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
0 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
0 | usd |
CY2024 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2024 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
usd | |
CY2024 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | |
CY2024 | dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
26/F., Shui On Centre | |
CY2024 | dei |
Entity Address Address Line3
EntityAddressAddressLine3
|
6-8 Harbour Road | |
CY2024 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Wanchai | |
CY2024 | dei |
Entity Address Country
EntityAddressCountry
|
HK | |
CY2024 | dei |
City Area Code
CityAreaCode
|
(852) |