RELATED PARTY TRANSACTIONS |
9 Months Ended |
|---|---|
Jul. 31, 2024 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 3 - RELATED PARTY TRANSACTIONS
Mr. Yip Hoi Hing Peter (“Mr. Peter Yip”), our Chief Executive Officer, Chief Financial Officer, and Director, and his spouse, and two companies owned by Mr. Peter Yip, CS Global Consultancy Limited (“CS Global”) and CSG Group Holdings Limited, control , or 68.23%, of the Company’s restricted Common Stock.
As of July 31, 2024 and October 31, 2023, the Company owed Mr. Peter Yip $90,695 and $25,563, respectively, for advances made to the Company for operations. The advances are due on demand, are unsecured, and are non-interest bearing.
For the three and nine months ended July 31, 2024, the Company did not incur any fees to Mr. Peter Yip’s companies.
For the three months ended July 31, 2023, fees paid to CS Global totaled $101,435 consisting of management fees of $29,834 and office usage and manpower support of $71,601. For the nine months ended July 31, 2023, fees paid to CS Global totaled $336,828 consisting of management fees of $89,621, other office usage and manpower support $167,207, and the one-time fee of $80,000.
Greenpro Capital Corp., through its wholly owned subsidiaries (collectively “Greenpro”), holds shares of the Company’s Common Stock, and is currently a 5.83% shareholder of the Company. In addition, three executives of Greenpro who collectively hold shares of the Company’s Common Stock, are currently 10.36% shareholders of the Company.
As of July 31, 2024 and October 31, 2023, the Company prepaid accounting fees to Greenpro of $1,920 and $1,915, respectively.
For the three months ended July 31, 2024, the Company incurred total fees to Greenpro of $9,553, consisting of accounting fees of $5,757 and company secretarial fees of $3,796, respectively. For the nine months ended July 31, 2024, the Company incurred total fees to Greenpro of $24,062, consisting of accounting fees of $20,266 and company secretarial fees of $3,796, respectively.
For the three months ended July 31, 2023, the Company incurred total fees to Greenpro of $9,522, consisting of accounting fees of $5,737 and company secretarial fees of $3,785, respectively. For the nine months ended July 31, 2023, the Company incurred total fees to Greenpro of $28,029, including accounting fees of $22,549, administration fees of $640, advisory fees of $800 and company secretarial fees of $4,040, respectively. |