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INCOME TAXES
 6 Months Ended
Jul. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES

NOTE 10 – INCOME TAXES

 

As of July 31, 2026 and January 31, 2026, the Company has net operating loss carry forwards of $2,311,429 and $1,726,961, respectively, which may be available to reduce future years’ taxable income through 2046. The Company’s net operating loss carry forwards may be subject to annual limitations, which could reduce or defer the utilization of the losses as a result of an ownership change as defined in Section 382 of the Internal Revenue Code.

 

The Company’s tax expense differs from the “expected” tax expense for Federal income tax purposes computed by applying the United States Federal tax rate of 21% and state rate of 5% to loss before taxes for fiscal years 2027 and 2026 as follows:

  

   July 31,   January 31, 
   2026   2026 
Tax expense (benefit) at the statutory rate  $(472,070)  $(335,674)
State income taxes, net of federal income tax benefit   (112,398)   (79,922)
Change in valuation allowance   584,468    415,596 
Total  $-   $- 

 

 

The tax effect of significant components of the Company’s deferred tax assets and liabilities at July 31, 2026, and January 31, 2026, are as follows:

  

   July 31,   January 31, 
   2026   2026 
Deferred tax assets:          
Net operating loss carryforward  $2,311,429   $1,726,961 
Timing differences   -    - 
Total gross deferred tax assets   2,311,429    1,726,961 
Less: Deferred tax asset valuation allowance   (2,311,429)   (1,726,961)
Total net deferred taxes  $-   $- 

 

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment.

 

Because of the historical earnings history of the Company, the net deferred tax assets are offset by a 100% valuation allowance. The valuation allowance for the remaining net deferred tax assets was $2,311,429 and $1,726,961 as of July 31, 2026, and January 31, 2026, respectively.

 

The tax years 2023 through 2026 remain open for examination by federal agencies and other jurisdictions in which it operates.