XBRL File

 
Document - Document and Entity Information
Document - Document and Entity Information (USD $) 12 Months Ended    
( custom:DocumentAndEntityInformationAbstract [Extension] )      
  Jul. 31, 2016 Mar. 8, 2017 Feb. 14, 2017
       
       
       
Entity Registrant Name Precious Investments, Inc.    
( dei:EntityRegistrantName )      
Entity Central Index Key 0001304741    
( dei:EntityCentralIndexKey )      
Document Type 10-K    
( dei:DocumentType )      
Document Period End Date 2016-07-31    
( dei:DocumentPeriodEndDate )      
Amendment Flag false    
( dei:AmendmentFlag )      
Current Fiscal Year End Date --07-31    
( dei:CurrentFiscalYearEndDate )      
Is Entity a Well-known Seasoned Issuer? No    
( dei:EntityWellKnownSeasonedIssuer )      
Is Entity a Voluntary Filer? No    
( dei:EntityVoluntaryFilers )      
Is Entity's Reporting Status Current? No    
( dei:EntityCurrentReportingStatus )      
Entity Filer Category Smaller Reporting Company    
( dei:EntityFilerCategory )      
Entity Public Float   3,157,310  
( dei:EntityPublicFloat )      
Entity Common Stock, Shares Outstanding     35,262,577
( dei:EntityCommonStockSharesOutstanding )      
Document Fiscal Period Focus Q4    
( dei:DocumentFiscalPeriodFocus )      
Document Fiscal Year Focus 2016    
( dei:DocumentFiscalYearFocus )      
(End Document - Document and Entity Information)
 
Statement - Balance Sheets
Statement - Balance Sheets (USD $)    
( us-gaap:StatementOfFinancialPositionAbstract )    
  Jul. 31, 2016 Jul. 31, 2015
     
     
     
ASSETS    
( us-gaap:AssetsAbstract )    
    Inventory 1,314,976
    ( us-gaap:InventoryNet )    
    Total assets 1,314,976
    ( us-gaap:Assets )    
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)    
====>>>ELEMENT REQUIRED    
    Current liabilities    
    ( us-gaap:LiabilitiesCurrentAbstract )    
        Accounts payable and accrued liabilities 102,037 151,336
        ( us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent )    
        Promissory notes 16,450 16,450
        ( us-gaap:NotesPayableCurrent )    
        Convertible notes payable 22,701 312,285
        ( us-gaap:ConvertibleNotesPayableCurrent )    
    Related party payables 159,717 45,949
    ( us-gaap:DueToRelatedPartiesCurrent )    
    Total current liabilities 300,905 526,020
    ( us-gaap:LiabilitiesCurrent )    
    Total liabilities 300,905 526,020
    ( us-gaap:Liabilities )    
Stockholders' equity (deficit)    
====>>>ELEMENT REQUIRED    
    Preferred stock, par value $.001; 10,000,000 shares authorized; 250,000 and 250,000 issued and outstanding as of April 30, 2016 and July 31, 2015, respectively. 250 250
    ( us-gaap:PreferredStockValue )    
    Common stock; $0.001 par value; 250,000,000 shares authorized; 26,750,924 and 3,377,294 outstanding as of July 31, 2016 and July 31,2015, respectively 26,751 3,377
    ( us-gaap:CommonStockValue )    
    Additional paid-in capital 68,391,085 959,198
    ( us-gaap:AdditionalPaidInCapital )    
    Treasury stock (45,000 ) (45,000 )
    ( us-gaap:TreasuryStockValue )    
    Accumulated deficit (67,359,015 ) (1,443,845 )
    ( us-gaap:RetainedEarningsAccumulatedDeficit )    
    Total stockholders' equity (deficit) 1,014,071 (526,020 )
    ( us-gaap:StockholdersEquity )    
    Total liabilities and stockholders' equity (deficit) 1,314,976
    ( us-gaap:LiabilitiesAndStockholdersEquity )    
(End Statement - Balance Sheets)
 
Statement - Balance Sheets (Parenthetical)
Statement - Balance Sheets (Parenthetical) (USD $)      
( us-gaap:StatementOfFinancialPositionAbstract )      
  Jul. 31, 2016 Apr. 30, 2016 Jul. 31, 2015
       
       
       
Preferred stock, par value 0.001 0.001 0.001
( us-gaap:PreferredStockParOrStatedValuePerShare )      
Preferred stock, shares authorized 250,000 10,000,000 10,000,000
( us-gaap:PreferredStockSharesAuthorized )      
Preferred stock, shares issued   250,000 250,000
( us-gaap:PreferredStockSharesIssued )      
Preferred stock, shares outstanding   250,000 250,000
( us-gaap:PreferredStockSharesOutstanding )      
Common stock, par value   0.001 0.001
( us-gaap:CommonStockParOrStatedValuePerShare )      
Common stock, shares authorized   250,000,000 250,000,000
( us-gaap:CommonStockSharesAuthorized )      
Common stock, shares issued   4,964,154  
( us-gaap:CommonStockSharesIssued )      
Common stock, shares outstanding 26,750,924   3,377,294
( us-gaap:CommonStockSharesOutstanding )      
(End Statement - Balance Sheets (Parenthetical))
 
Statement - Statements of Operations
Statement - Statements of Operations (USD $) 12 Months Ended
( us-gaap:IncomeStatementAbstract )  
  Jul. 31, 2016 Jul. 31, 2015
     
     
     
Revenues 7,500
( us-gaap:Revenues )    
Cost of revenue 10,782,677
( us-gaap:CostOfRevenue )    
Gross profit (10,775,177 )
( us-gaap:GrossProfit )    
Operating expenses    
( us-gaap:OperatingExpensesAbstract )    
    Executive compensation 49,169,643 486,250
    ( us-gaap:AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation )    
    General and administrative expenses 11,075 156,013
    ( us-gaap:GeneralAndAdministrativeExpense )    
    Professional fees 2,575,269
    ( us-gaap:ProfessionalFees )    
    Total operating expenses 51,755,987 642,263
    ( us-gaap:OperatingExpenses )    
Interest expense (4,238,149 ) (18,934 )
( us-gaap:InterestExpense )    
Loss from operations (62,531,164 ) (642,263 )
( us-gaap:OperatingIncomeLoss )    
Other expense    
====>>>ELEMENT REQUIRED    
Gain on the sale of subsidiary 307,500
( us-gaap:GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome )    
Gain on the settlement of notes payable 546,643
( custom:GainOnSettlement [Extension] )    
Total other expense (3,384,006 ) (18,934 )
( us-gaap:NonoperatingIncomeExpense )    
Net loss (65,915,170 ) (661,197 )
( us-gaap:NetIncomeLoss )    
Net loss per common share: basic and diluted (12.28 ) (0.20 )
( us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare )    
Basic and diluted weighted average common shares outstanding 5,366,132 3,367,294
( us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted )    
(End Statement - Statements of Operations)
 
Statement - Consolidated Statements of Stockholders' Equity
Statement - Consolidated Statements of Stockholders' Equity (USD $)            
( us-gaap:StatementOfStockholdersEquityAbstract )            
  Preferred Stock Common Stock Additional Paid-In Capital Treasury Stock Retained Earnings [Member] <Total>
( us-gaap:StatementEquityComponentsAxis )            
             
( us-gaap:EquityComponentDomain )            
From Aug. 1, 2013 to Jul. 31, 2014            
             
Beginning balance   179 374,628   (693,293 )  
( us-gaap:StockholdersEquity )            
Beginning balance, shares   178,544        
( us-gaap:SharesOutstanding )            
Beneficial conversion feature on convertible promissory notes     45,000     45,000
( us-gaap:DebtInstrumentConvertibleBeneficialConversionFeature )            
Common stock issued in exchange for lease assumption   2,500 47,500     50,000
( custom:SharesIssuedInExchangeLeaseAssumption [Extension] )            
Common stock issued in exchange for lease assumption, shares   2,500,000        
( custom:SharesIssuedInExchangeLeaseAssumptionShare [Extension] )            
Stock issued to settle convertible debt            
( us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities )            
Stock issued to settle convertible debt, Shares            
( us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities )            
Shares issued services            
( us-gaap:StockIssuedDuringPeriodValueIssuedForServices )            
Shares issued services, shares            
( us-gaap:StockIssuedDuringPeriodSharesIssuedForServices )            
Shares issued services            
( custom:StockIssuedDuringPeriodValueOneIssuedForServices [Extension] )            
Shares issued services, Shares            
( custom:StockIssuedDuringPeriodShareOneIssuedForServices [Extension] )            
Net loss         (89,355 ) (89,355 )
( us-gaap:NetIncomeLoss )            
Ending Balance   2,678 467,129   (782,648 ) (357,841 )
( us-gaap:StockholdersEquity )            
Ending Balance, shares   2,678,544        
( us-gaap:SharesOutstanding )            
             
             
From Aug. 1, 2015 to Jul. 31, 2016            
====>>>ELEMENT REQUIRED            
Beginning balance            
====>>>ELEMENT REQUIRED            
Beginning balance, shares            
====>>>ELEMENT REQUIRED            
Beneficial conversion feature on convertible promissory notes            
====>>>ELEMENT REQUIRED            
Common stock issued in exchange for lease assumption            
====>>>ELEMENT REQUIRED            
Common stock issued in exchange for lease assumption, shares            
====>>>ELEMENT REQUIRED            
Stock issued to settle convertible debt            
====>>>ELEMENT REQUIRED            
Stock issued to settle convertible debt, Shares            
====>>>ELEMENT REQUIRED            
Shares issued services            
====>>>ELEMENT REQUIRED            
Net loss            
( custom:NetLoss [Extension] )            
Ending Balance            
( custom:EndingBalance2 [Extension] )            
Ending Balance, shares            
( custom:EndingBalance [Extension] )            
             
             
From Aug. 1, 2014 to Jul. 31, 2015            
             
Beginning balance   2,678 467,129   (782,648 ) (357,841 )
( us-gaap:StockholdersEquity )            
Beginning balance, shares   2,678,544        
( us-gaap:SharesOutstanding )            
Beneficial conversion feature on convertible promissory notes            
( us-gaap:DebtInstrumentConvertibleBeneficialConversionFeature )            
Common stock issued in exchange for lease assumption            
( custom:SharesIssuedInExchangeLeaseAssumption [Extension] )            
Common stock issued in exchange for lease assumption, shares            
( custom:SharesIssuedInExchangeLeaseAssumptionShare [Extension] )            
Stock issued to settle convertible debt   399 6,369     6,768
( us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities )            
Stock issued to settle convertible debt, Shares   398,750        
( us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities )            
Shares issued services   300 485,700     486,000
( us-gaap:StockIssuedDuringPeriodValueIssuedForServices )            
Shares issued services, shares   300,000        
( us-gaap:StockIssuedDuringPeriodSharesIssuedForServices )            
Shares issued services 250         250
( custom:StockIssuedDuringPeriodValueOneIssuedForServices [Extension] )            
Shares issued services, Shares 250,000          
( custom:StockIssuedDuringPeriodShareOneIssuedForServices [Extension] )            
Net loss         (661,197 ) (661,197 )
( us-gaap:NetIncomeLoss )            
Ending Balance 250 3,377 959,198   (1,443,845 )  
( us-gaap:StockholdersEquity )            
Ending Balance, shares 250,000 3,377,294        
( us-gaap:SharesOutstanding )            
             
             
From Aug. 1, 2015 to Jul. 31, 2016            
====>>>ELEMENT REQUIRED            
Beginning balance            
====>>>ELEMENT REQUIRED            
Beginning balance, shares            
====>>>ELEMENT REQUIRED            
Beneficial conversion feature on convertible promissory notes            
====>>>ELEMENT REQUIRED            
Common stock issued in exchange for lease assumption   337       35586
====>>>ELEMENT REQUIRED            
Common stock issued in exchange for lease assumption, shares   336860       23919000
====>>>ELEMENT REQUIRED            
Stock issued to settle convertible debt   9666555        
====>>>ELEMENT REQUIRED            
Stock issued to settle convertible debt, Shares   139000       3129
====>>>ELEMENT REQUIRED            
Shares issued services   8100000        
====>>>ELEMENT REQUIRED            
Net loss         (65,915,170 )  
( custom:NetLoss [Extension] )            
Ending Balance         (67,359,015 )  
( custom:EndingBalance2 [Extension] )            
Ending Balance, shares   26,750,924     (67,359,015 ) 1,014,071
( custom:EndingBalance [Extension] )            
(End Statement - Consolidated Statements of Stockholders' Equity)
 
Statement - Statements of Cash Flows
Statement - Statements of Cash Flows (USD $) 12 Months Ended
( us-gaap:StatementOfCashFlowsAbstract )  
  Jul. 31, 2016 Jul. 31, 2015
     
     
     
Cash Flows from Operating Activities    
( us-gaap:NetCashProvidedByUsedInOperatingActivitiesAbstract )    
    Net loss (65,915,170 ) (661,197 )
    ( us-gaap:NetIncomeLoss )    
    Adjustments to reconcile net loss to net cash provided by operating activities:    
    ( us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract )    
        Shares issued for services 51,626,144 486,250
        ( us-gaap:IssuanceOfStockAndWarrantsForServicesOrClaims )    
        Amortization of debt discount 4,002,933 13,713
        ( us-gaap:AmortizationOfDebtDiscountPremium )    
        Gain on settlement of note payable (546,643 )
        ( custom:GainOnSettlementOfNotePayable [Extension] )    
        Gain on the sale of subsidiary (307,500 )
        ( us-gaap:GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee )    
        Impairment of mining properties 50,000
        ( custom:MiningPropertiesAccumulatedImpairment [Extension] )    
    Changes in assets and liabilities    
    ( us-gaap:IncreaseDecreaseInOperatingCapitalAbstract )    
        Inventory 10,782,677
        ( custom:Inventory [Extension] )    
        Accounts payable and accrued expenses 208,204 68,324
        ( us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities )    
    Net cash from operating activities (149,355 ) (42,910 )
    ( us-gaap:NetCashProvidedByUsedInOperatingActivities )    
Cash Flows from Financing Activities    
( us-gaap:NetCashProvidedByUsedInFinancingActivitiesAbstract )    
    Proceeds from the sale of common stock 35,586
    ( us-gaap:ProceedsFromIssuanceOrSaleOfEquity )    
    Advances from related parties 113,768 42,910
    ( us-gaap:ProceedsFromRelatedPartyDebt )    
    Net cash from financing activities 149,355 42,910
    ( us-gaap:NetCashProvidedByUsedInFinancingActivities )    
Net increase (decrease) in cash
( us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease )    
Cash, beginning of period
( us-gaap:CashAndCashEquivalentsAtCarryingValue )    
Cash, end of period
( us-gaap:CashAndCashEquivalentsAtCarryingValue )    
Non-Cash investing and financing transactions    
( us-gaap:NoncashInvestingAndFinancingItemsAbstract )    
    Issuance of note payables for inventory 4,000,250
    ( us-gaap:NoncashOrPartNoncashAcquisitionInventoryAcquired1 )    
    Common stock issued for inventory 12,097,653  
    ( custom:CommonStockIssuedForInventory [Extension] )    
    Shares issued to settle convertible debt 3,378 6,768
    ( custom:SharesIssuedToSettleConvertibleDebt [Extension] )    
(End Statement - Statements of Cash Flows)
 
Disclosure - Orgnization and Summary of Significant Accounting Policies
Disclosure - Orgnization and Summary of Significant Accounting Policies (USD $) 12 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Jul. 31, 2016
   
   
   
ORGANIZATION AND BASIS OF ACCOUNTING

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Organization and Description of Business

 

Precious Investments, Inc. (Formerly FIGO Ventures, Inc.) (‘The Company’) was incorporated under the laws of the State of Nevada on May 26, 2004. The Company was an Exploration Stage Company with the principle business being the acquisition and exploration of resource properties.

 

The Company had allowed its charter with the state of Nevada to be revoked by the Secretary of State for failure to file the required annual lists and pay the required annual fees. Its last known officers and directors reflected in the records of the Secretary of State were unresponsive or stated they were no longer involved with the Company. The purported replacement officers and directors were unresponsive.

 

On September 14, 2012, NPNC Management, LLC filed a petition in the Eighth Judicial District Court in Clark County, Nevada and was appointed custodian of the Company on October 15, 2012.

 

In order to obtain basic operating capital to pay for the reinstatement of the Company’s good standing with the Nevada Secretary of State, to bring the Company’s account current with creditors essential for the reorganization of the Company, such as the transfer agent, and for basic general corporate purposes, on October 24, 2012, the interim board authorized the sale of 55,000,000 (2,200,000 split adjusted) shares of common stock for $6,000 to NPNC Management, LLC, in a private placement transaction exempt from the Securities Act of 1933, as amended, pursuant to section 4(2) thereof and the rules and regulations promulgated there under.

 

On October 24, 2012, NPNC Management, LLC appointed Bryan Clark as director of the Company, to hold office until such time as the shareholders elected a board. The interim board, consisting of Mr. Clark, further acted to appoint Mr. Clark as president, treasurer, and secretary of the Company, to act on behalf of the Company, and to hold such offices until removed by any subsequent board elected by the shareholders.

 

On November 13, 2013, Bryan Clark tendered his resignation from all positions as an Officer and Director of the Company and the Board appointed Anna Wlodarkiewicz as a Director, President, Secretary and Treasurer of the Company.

 

On October 9, 2014, Ania Wlodarkiewicz tendered her resignation from all positions as an Officer and Director of the Company and the Board appointed Nataliya Hearn as a Director, President, Secretary and Treasurer of the Company.

 

On March 28, 2016, Nataliya Hearn resigned as the Company’s Chief Executive Officer and Director. Mr. Kashif Khan is the Company’s sole officer and director.

 

The Company has completed an asset purchase agreement dated August 10, 2015 where the Company acquired from Kashif Khan, its sole officer and director, colored diamonds with a wholesale value of US$4 Million, which he was in control of, in exchange for issuing three secured demand convertible promissory notes totaling US$4 Million.

 

The Company is in the business of purchasing and selling colored diamonds.

 

 

Precious Investments, Inc.

Notes to Audited Financial Statements

July 31, 2016 and 2015

 

Basis of Presentation

 

Our financial statements are presented in conformity with accounting principles generally accepted in the United States of America, as reported on our fiscal years ending on July 31, 2016 and 2015. We have summarized our most significant 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.

 

Derivative Financial Instruments

 

The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks.

The Company reviews the terms of convertible loans, equity instruments and other financing arrangements to determine whether there are embedded derivative instruments, including embedded conversion options that are required to be bifurcated and accounted for separately as a derivative financial instrument. Also, in connection with the issuance of financing instruments, the Company may issue freestanding options or warrants to employees and non-employees in connection with consulting or other services. These options or warrants may, depending on their terms, be accounted for as derivative instrument liabilities, rather than as equity.

Derivative financial instruments are initially measured at their fair value. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at fair value and then re-valued at each reporting date, with changes in the fair value reported as charges or credits to income. To the extent that the initial fair values of the freestanding and/or bifurcated derivative instrument liabilities exceed the total proceeds received an immediate charge to income is recognized in order to initially record the derivative instrument liabilities at their fair value.

The discount from the face value of the convertible debt instruments resulting from allocating some or all of the proceeds to the derivative instruments, together with the stated rate of interest on the instrument, is amortized over the life of the instrument through periodic charges to income, using the effective interest method.

The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. If reclassification is required, the fair value of the derivative instrument, as of the determination date, is reclassified. Any previous charges or credits to income for changes in the fair value of the derivative instrument are not reversed. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within twelve months of the balance sheet date.

 

Precious Investments, Inc.

Notes to Audited Financial Statements

July 31, 2016 and 2015

 

Fair value of financial instruments

 

The Company’s financial instruments consist of its liabilities. The carrying amount of payables and the loan payable – related party approximate fair value because of the short-term nature of these items. The promissory notes, and convertible notes payables are measured at amortized cost using the effective interest method, which approximates fair value due to the relationship between the interest rate on long-term debt and the Company’s incremental risk adjusted borrowing rate.

 

Inventories

Inventory consist of loose colored diamond acquired during the period (See Note 7) and is stated at the lower of cost or net realizable value. The Company writes-down inventory once it has been determined that conditions exist that may not allow the inventory to be sold for its intended purpose or the inventory is determined to be excess or obsolete based on our forecasted future sales. The charge related to inventory write-downs is recorded as a cost of revenue.

 

Long-lived assets

 

Long-lived assets, including investments to be held and used or disposed of other than by sale, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. When required, impairment losses on assets to be held and used or disposed of other than by sale are recognized based on the fair value of the asset. Long-lived assets to be disposed of by sale are reported at the lower of the asset’s carrying amount or fair value less cost to sell.

 

Income Taxes

 

The Company accounts for income taxes pursuant to FASB ASC 740—Income Taxes, which requires recognition of deferred income tax liabilities and assets for the expected future tax consequences of events that have been recognized in the financial statements or tax returns. The Company provides for deferred taxes on temporary differences between the financial statements and tax basis of assets using the enacted tax rates that are expected to apply to taxable income when the temporary differences are expected to reverse.

 

FASB ASC 740 establishes a more-likely-than-not threshold for recognizing the benefits of tax return positions in the financial statements. Also, the statement implements a process for measuring those tax positions that meet the recognition threshold of being ultimately sustained upon examination by the taxing authorities. There are no uncertain tax positions taken by the Company on its tax returns. The Company files tax returns in the U.S. and states in which it has operations and is subject to taxation. Tax years subsequent to 2008 remain open to examination by U.S. federal and state tax jurisdictions.

 

Net Loss per Common Share

 

Basic earnings per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method.

 

 

Precious Investments, Inc.

Notes to Audited Financial Statements

July 31, 2016 and 2015

 

 

Recently Issued Accounting Pronouncements

Management has considered all recent accounting pronouncements issued since the last audit of its financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's financial statements.

( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureAndSignificantAccountingPoliciesTextBlock )  
(End Disclosure - Orgnization and Summary of Significant Accounting Policies)
 
Disclosure - Going Concern
Disclosure - Going Concern (USD $) 12 Months Ended
( custom:GoingConcernAbstract [Extension] )  
  Jul. 31, 2016
   
   
   
GOING CONCERN

NOTE 2 – GOING CONCERN

 

These condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As of July, 31, 2016, the Company has an accumulated deficit of $67,359,015. The Company’s ability to continue as a going concern is contingent upon the successful completion of additional financing arrangements and our ability to achieve and maintain profitable operations. While we are expanding our best efforts to achieve the above plans, there is no assurance that any such activity will generate funds that will be available for operations. These conditions raise substantial doubt about our ability to continue as a going concern. These condensed consolidated interim financial statements do not include any adjustments that might arise from this uncertainty.

( custom:GoingConcernTextBlock [Extension] )  
(End Disclosure - Going Concern)
 
Disclosure - Bitgems Asset Management Ltd
Disclosure - Bitgems Asset Management Ltd (USD $) 12 Months Ended
( us-gaap:FairValueDisclosuresAbstract )  
  Jul. 31, 2016
   
   
   
BITGEMS ASSET MANAGEMENT LTD

NOTE 3 – BITGEMS ASSETS MANAGEMENT LTD

 

On March 24, 2016, the Company entered into an Agreement for Transfer of Ownership with Gulf Peal Ltd. and goNumerical Ltd.(the Consulting Firms) (the “Transfer Agreement”). Under the Transfer Agreement, the Company agreed to transfer all intellectual property rights as part of the cryptocurrency diamond market and PinkCoin projects to Gulf Pearl Ltd. and GoNumerical Ltd. (the “Consulting Firms”). In addition, the Company agreed to transfer ownership and management of its subsidiary, Bitgems Assets Management Ltd., to the Consulting Firms. In exchange, the Consulting Firms agreed to return their collective 1,000,000 shares in the Company acquired under the previously entered Memorandum of Understanding dated October 1, 2015 and Amended Memorandum of Understanding dated October 12, 2015.

 

Management had no assets or liabilities and as such the Company recorded the value of the 1,000,000 shares received of $2,400,000 as a gain on the sale of subsidiary recorded to additional paid in capital. Additionally, the Company recorded the amortization of a previously recorded prepaid expense of $2,092,500 (See note 4) associated with the MOU to the sale price of the subsidiary and netted it against the gain.

 

During the year ended July 31, 2016, the Company recorded the net gain on the sale of its subsidiary of $307,500.

( us-gaap:FairValueOptionQualitativeDisclosuresRelatedToElectionTextBlock )  
(End Disclosure - Bitgems Asset Management Ltd)
 
Disclosure - Prrepaid Expenses
Disclosure - Prrepaid Expenses (USD $) 9 Months Ended
( us-gaap:FairValueDisclosuresAbstract )  
  Apr. 30, 2016
   
   
   
PREPAID EXPENSES

NOTE 4 – PREPAID EXPENSES

 

On October 1, 2015, we entered into a Memorandum of Understanding (“MOU”) with Gulf Peal Ltd. and goNumerical Ltd. (the “Consulting Firms”) in which each of the Consulting Firms shall receive 500,000 shares of common stock upon meeting certain milestones, with 250,000 shares of common stock being earned upon execution of the MOU. During the period ended April 30, 2016, we issued a total of 1,000,000 shares of common stock valued $2,790,000 to the consultants related to the agreement.

 

The Company included the value of the 750,000 unearned shares amounting to $2,092,500 as a prepaid expense until such time the milestones are met and the shares are earned.

 

As of July 31, 2016, no additional milestones were met and as a result of the Transfer agreement (See Note 3) and the return of the previously issued shares, the Company has amortized the balance of the outstanding prepaid of $2,092,500 to the selling price of the subsidiary. As of July 31, 2016 and 2015, the balance of the prepaid expenses is $0.

( us-gaap:FairValueDisclosuresTextBlock )  
(End Disclosure - Prrepaid Expenses)
 
Disclosure - Promissory Notes
Disclosure - Promissory Notes (USD $) 12 Months Ended
( us-gaap:DebtDisclosureAbstract )  
  Jul. 31, 2016
   
   
   
PROMISSORY NOTES

NOTE 5 – PROMISSORY NOTES

 

Promissory notes payable as of July 31, 2016 and 2015 consisted of the following:

 

Description   July 31,  2016    

July 31,

2015

 
Note payable dated January 15, 2014, matured January 15, 2015 bearing interest at 12% per annum.   $ 3,000     $ 3,000  
Note payable dated February 14, 2014 matured February 14, 2015, bearing interest at 12% per annum.     3,750       3,750  
Note payable dated April 1, 2014 matured April 1, 2015, bearing interest at 12% per annum.     4,700       4,700  
Note payable dated January 30, 2014, matured January 30, 2015, bearing interest at 12% per annum.     5,000       5,000  
Total   $ 16,450     $ 16,450  

 

These notes have matured as of July 31, 2016, however they have not been paid. Accordingly, they are due on demand and recorded as current liabilities. Interest expense related to the notes for the six months ended July 31, 2016 and 2015 was $1,979 and $3,246 respectively.

( us-gaap:DebtDisclosureTextBlock )  
(End Disclosure - Promissory Notes)
 
Disclosure - Convertible Debt
Disclosure - Convertible Debt (USD $) 12 Months Ended
( custom:ConvertibleDebtDisclosureAbstract [Extension] )  
  Jul. 31, 2016
   
   
   
CONVERTIBLE DEBT

NOTE 6- CONVERTIBLE DEBT

 

Convertible debt as of July 31, 2016 and July 31, 2015 consisted of the following:

 

Description  

July 31,

2016

   

July 31,

2015

 
Convertible note agreement dated January 11, 2007, of up to $1,000,000 bearing interest at 10% per annum, originally scheduled to mature on January 11, 2009. Convertible by Lender at its sole option into units in the capital stock such that for each $0.40 of principal outstanding at the time of conversion may be converted into one unit consisting of one common share and one non-transferable share purchase warrant exercisable for a period of up to two years from the date of conversion. Each warrant shall entitle the Lender to purchase an additional common share of the Company at $0.60 during the term of the warrants. The remaining balance of the beneficial feature conversion applicable to this note at July 31, 2016 and 2015 was zero.   $ -     $ 289,140  
Convertible note agreements (3) dated November 1, 2013, totaling $45,000. Maturing on November 30, 2015 bearing interest at 12% per annum. Principal and accrued interest is convertible at $.00225 per share. The beneficial conversion feature was recorded as a discount to the debt and is being amortized over the term of the notes.     23,679       27,056  
Convertible note agreements (3) dated August 10, 2015, totaling $4,000,000. Maturing on August 9, 2018 or a) within 20 business days of a receipt of written demand from the holder for payment of all of the Notes, provided that i) we have not raised $5 million in debt or equity financing before written demand was tendered or any portion bearing interest at 6% per annum. Principal and accrued interest is convertible at $.247 per share. The beneficial conversion feature was recorded as a discount to the debt and is being amortized over the term of the notes. (See note 9)     -       -  
                 
Less: unamortized discount     (978 )     (3,910 )
Convertible notes, net of discount     22,701       312,285  

 

 

Precious Investments, Inc.

Notes to Audited Financial Statements

July 31, 2016 and 2015

 

The Company does not have a copy of the Convertible note agreement dated January 11, 2007. Neither the Note nor the name of the lender are found in our public filings. The Company has taken significant efforts to locate a copy of the Note to no avail. The Company contacted the prior auditor, Dale Matheson Carr-Hilton Labonte LLP, which audited our July 31, 2008 and 2007 financial statements found in our 10KSB for the year ended July 31, 2008. After conducting a search, Dale Matheson informed us that they do not have a copy of the Note. Despite not having a copy of the Note, the material terms of the note were contained in our prior financial statements for the year ended July 31, 2008, and those terms are sufficient for all material purposes to accurately present our current financial statements. The Note matured on January 11, 2009 and the statute of limitations ran on January 11, 2015 and the Company has not received any demand for the payment of the note from the holder. As such, the Company has concluded that it no longer has a legal obligation for the payment of the note and has thus decided to remove the note. During the year ended July 31, 2016, the Company has recorded an gain on the cancellation of the debt in the amount of $316.507.

 

On July 15, 2016, the holder of the note dated August15, 2015 demanded payment on the Notes. We have not raised $5 million in debt or equity financing and no portion of the Notes have been converted. As such, on July 25, 2016, we elected to return the Assets to Khan in lieu of payment. The interest accrued on the notes through July 25, 2016 amounting to $230,137 was forgiven by Khan and therefore recorded as a gain on settlement of notes payable as of July 31, 2016.

 

During the year ended July 31, 2016 and 2015, the Company recognized $4,002,933 and $8,800 of debt discount accretion expense on the above notes, respectively. Interest expense related to these notes for the years ended July 31, 2016 and 2015 was $232,986 and $2,552, respectively.

( custom:ConvertibleDebtDisclosureTextBlock [Extension] )  
(End Disclosure - Convertible Debt)
 
Disclosure - Related Party Transactions
Disclosure - Related Party Transactions (USD $) 12 Months Ended
( us-gaap:RelatedPartyTransactionsAbstract )  
  Jul. 31, 2016
   
   
   
RELATED PARTY TRANSACTIONS

NOTE 7 – RELATED PARTY TRANSACTIONS

 

A shareholder of the Company has paid certain expenses of the Company. These amounts are reflected as a loan payable to related party. The shareholder advanced $113,768 and $42,910 during the years ended July 31, 2016 and 2015. As of the July 31, 2016 and 2015, there were $159,717 and $45,949 due to related parties, respectively.

( us-gaap:RelatedPartyTransactionsDisclosureTextBlock )  
(End Disclosure - Related Party Transactions)
 
Disclosure - Karrah, Inc.
Disclosure - Karrah, Inc. (USD $) 12 Months Ended
( custom:NotesToFinancialStatementsAbstract [Extension] )  
  Jul. 31, 2016
   
   
   
Karrah, Inc.

NOTE 8 – KARRAH, INC

 

On March 28, 2016, the Company signed a letter of intent (the “LOI”) with Karrah Inc., an Ontario corporation (“Karrah”), and the sole shareholder of Karrah, Farrah Khan (“Khan”). Khan is the wife of the Company’s officer and director, Kashif Khan. Pursuant to the LOI, the parties set forth their understandings in contemplation of an acquisition from Khan of all of the issued and outstanding shares of stock in Karrah, resulting in a parent subsidiary relationship. In consideration for the acquisition of Karrah, the Company plans to issue to Khan a three year promissory note (the “Note”) for $1,500,000, with interest at 6% per annum. Interest will be payable at maturity or from time to time at the Company’s sole discretion. The Company has the right to prepay the Note. The Note will be secured by the assets of Karrah.

 

The agreement never closed as it was not possible to obtain an audit of Karrah that the Company was required to file with the SEC in connection with the acquisition as a result of the nature of the company’s jewelry inventory. (See note 13)

( custom:KarrahIncTextBlock [Extension] )  
(End Disclosure - Karrah, Inc.)
 
Disclosure - Diamond Purchase Agreement
Disclosure - Diamond Purchase Agreement (USD $) 12 Months Ended
( custom:DiamondPurchaseAgreementAbstract [Extension] )  
  Jul. 31, 2016
   
   
   
DIAMOND PURCHASE AGREEMENT

NOTE 9 – DIAMOND PURCHASE AGREEMENTS

 

On August 10, 2015, we entered into a Diamond Purchase Agreement (the “Agreement”) with Kashif Khan (“Khan”), an arm’s length party, who subsequently became the sole office and director. Pursuant to the Agreement, we acquired from Khan colored diamonds (the “Assets”) for three demand secured convertible promissory notes (the “Notes”) in the aggregate principal amount of $4,000,000. The Notes have the following features:

 

Note A

 

Note A is in the principal amount of $1.7 million, accrues interest at 6% per annum and matures: a) within 20 business days of a receipt of written demand from the holder for payment of all of the Notes, provided that i) we have not raised $5 million in debt or equity financing before written demand was tendered or any portion of Note was converted into shares of our common stock; or b) in all other cases, thirty-six months from the issuance of Note A.

 

Upon written demand for payment, the Company may either pay all principal and accrued interest on the Notes or return the Assets to the holder to fulfill all obligations.

 

The holder may convert the principal and accrued interest into shares of our common stock at $0.247386975 per share up to a maximum conversion allowance of 6,871,825 shares. If we raise $5 million in debt or equity financing or if the holder converts any portion of Note A, then the Note will automatically convert at maturity into a total of 6,871,825 shares of our common stock. If we prepay Notes B and C, however, then the conversion price will adjust to $0.105139464 per share for a total conversion allowance of 16,169,000 shares.

 

The Company may not prepay Note A and it is secured by $1,700,000 worth of the Assets.

 

Note B

 

Note B is in the principal amount of $1.15 million, accrues interest at 6% per annum and matures: a) within 20 business days of a receipt of written demand from the holder for payment of all of the Notes, provided that i) we have not raised $5 million in debt or equity financing before written demand was tendered or any portion of Note was converted into shares of our common stock; or b) in all other cases, thirty-six months from the issuance of Note B.

 

Upon written demand for payment, the Company may either pay all principal and accrued interest on the Notes or return the Assets to the holder to fulfill all obligations.

 

The holder may convert the principal and accrued interest into shares of our common stock at $0.247386975 per share up to a maximum conversion allowance of 4,648,588 shares. If we raise $5 million in debt or equity financing or if the holder converts any portion of Note B, then the Note will automatically convert at maturity into a total of 4,648,588 shares of our common stock.

 

The Company may prepay all of the outstanding principal and accrued interest under Note B, provided that we also prepays all of the outstanding principal and accrued interest of Note C. Note B is secured by $1,150,000 worth of the Assets.

 

Note C

 

Note C is in the principal amount of $1.15 million, accrues interest at 6% per annum and matures: a) within 20 business days of a receipt of written demand from the holder for payment of all of the Notes, provided that i) we have not raised $5 million in debt or equity financing before written demand was tendered or any portion of Note was converted into shares of our common stock; or b) in all other cases, thirty-six months from the issuance of Note C.

 

 

Precious Investments, Inc.

Notes to Audited Financial Statements

July 31, 2016 and 2015

 

Upon written demand for payment, the Company may either pay all principal and accrued interest on the Notes or return the Assets to the holder to fulfill all obligations.

 

The holder may convert the principal and accrued interest into shares of our common stock at $0.247386975 per share up to a maximum conversion allowance of 4,648,588. If we raise $5 million in debt or equity financing or if the holder converts any portion of Note B, then the Note will automatically convert at maturity into a total of 4,648,588 shares of our common stock.

 

The Company may prepay all of the outstanding principal and accrued interest under Note C, provided that we also prepay all of the outstanding principal and accrued interest of Note B. Note C is secured by $1,150,000 worth of the Assets.

 

Also, as provided in the Agreement, our former officer and director, Natalya Hearn, agreed to transfer her 250,000 shares of Series A Preferred Stock to Khan. Under the Agreement, these shares of Series A Preferred Stock will cancel and return to our treasury upon Khan converting the Notes into 51% of the Company issued and outstanding common stock. Also, if Kahn demands payment of the Notes, then the shares of Series A Preferred Stock will cancel and return to our treasury.

 

The Company also agreed to appoint two nominees of Khan to our board of directors and to register 7,500,000 shares of common stock converted from existing notes along with remaining shares of common stock underlying convertible notes. The Notes in favor of Khan do not have registration rights.

 

The Company has determined that the asset acquired did not meet the definition of a business as defined in ASC 805 and as such the transaction was treated as an asset acquisition and the diamonds are shown on the Company’s condensed consolidated interim balance sheet as inventory.

 

In measuring the Notes, it was determined that they contained a beneficial conversion feature, which upon measurement resulted in the full amount of the proceeds being allocated entirely to the beneficial conversion feature.

 

On July 15, 2016, Khan demanded payment on the Notes. Since, the Company has not raised $5 million in debt or equity financing and no portion of the Notes have been converted, on July 25, 2016, we elected to return the Assets to Khan in lieu of payment. The interest accrued on the notes through July 25, 2016 amounting to $230,137 was forgiven by Khan and therefore recorded as a gain on settlement of notes payable as of July 31, 2016.

 

During the year ended July 31, 2016, the Company entered into and closed various additional Diamond Purchase Agreements to purchase diamond assets consisting of various colored diamonds with stated values of $11,447,653 for 4,880,215 shares of common stock.

( custom:DiamondPurchaseAgreementTextBlock [Extension] )  
(End Disclosure - Diamond Purchase Agreement)
 
Disclosure - Stock Options
Disclosure - Stock Options (USD $) 12 Months Ended
( OtherLiabilitiesDisclosureAbstract )  
  Jul. 31, 2016
   
   
   
Stock Options

NOTE 10 – STOCK OPTIONS

 

On July 29, 2016, the Company issued options to purchase 10,000,000 shares of common stock at an exercise price of $0.10 per share to a Mr. Kashif Khan for employment services. The options were valued at $29,799,644 using the Black Scholes option pricing model based upon the following assumptions: term of 5 years, risk free interest rate of 1.03%, a dividend yield of 0% and volatility rate of 793.31%. The warrants were fully earned and vested on July 31, 2016. 

 

The following is a summary of stock warrants activity during the year ended July 31, 2016 and 2015. 

 

    Number of Shares       Weighted Average Exercise Price  
Balance, July 31, 2015   —      $ 0.00  
Warrants granted and assumed   10,000,000     $ 0.10  
Warrants expired   —         —    
Warrants canceled   —         —    
Warrants exercised   10,000,000     $ 0.10  
Balance, July 31, 2016   —         —    
( us-gaap:ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock )  
(End Disclosure - Stock Options)
 
Disclosure - Stockholders' Equity
Disclosure - Stockholders' Equity (USD $) 12 Months Ended
( us-gaap:EquityAbstract )  
  Jul. 31, 2016
   
   
   
STOCKHOLDERS' EQUITY

NOTE 11 – STOCKHOLDERS’ EQUITY

 

As of July 31, 2016 and 2015, the Company had 200,000 shares of common stock held in treasury valued at $45,000 that were acquired as part of Stock Repurchase Agreement dated November 13, 2013.

 

During the year ended July 31, 2016, the Company issued 4,980,215 shares of common stock valued at $12,097,653 related to various Diamond Purchase Agreements.

 

During the year ended July 31, 2016, the Company issued 1,000 units consisting of one share and one warrant of stock for $2,000 cash.

 

During the year ended July 31, 2016, the Company issued 335,860 shares of common stock for $33,586 cash.

 

During the year ended July 31, 2016, the Company issued 1,390,000 shares valued at $3,129 for the conversion of a convertible note payable dated November 1, 2013.

 

During the year ended July 31, 2016, the Company issued 1,000,000 shares valued at $2,790,000 for services. The shares were returned during the year.

 

During the year ended July 31, 2016, the Company issued 8,100,000 shares valued at $23,919,000 for services.

 

During the year ended July 31, 2016, the Company issued 9,666,555 shares valued at $29,799,644 for the non-cash exercise of stock options.

( us-gaap:StockholdersEquityNoteDisclosureTextBlock )  
(End Disclosure - Stockholders' Equity)
 
Disclosure - Commitments and Contingencies
Disclosure - Commitments and Contingencies (USD $) 12 Months Ended
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract )  
  Jul. 31, 2016
   
   
   
COMMITMENTS AND CONTINGENCIES

NOTE 12 – COMMITMENTS AND CONTINGENCIES

 

Employment agreement

 

On July 29, 2016, we entered into an employment agreement with Kashif Khan (“Khan”) to be the Chief Executive Officer. Khan’s initial annual Base Salary is $100,000. Khan will also be eligible to earn a Performance Bonus for each complete fiscal year, which will be equal to fifty percent (50%) of his Base Salary for such fiscal year. Kahn was also granted 6,500,000 shares of common stock and 10,000,000 options.

 

Litigations, Claims and Assessments 

 

The Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise that may harm its business. The Company is currently not aware of any such legal proceedings or claims that they believe will have, individually or in the aggregate, a material adverse effect on its business, financial condition or operating results.

( us-gaap:CommitmentsAndContingenciesDisclosureTextBlock )  
(End Disclosure - Commitments and Contingencies)
 
Disclosure - Income Taxes
Disclosure - Income Taxes (USD $) 12 Months Ended
( us-gaap:IncomeTaxDisclosureAbstract )  
  Jul. 31, 2016
   
   
   
INCOME TAXES

NOTE 13 – INCOME TAXES 

 

For the year ended July 31, 2016, the cumulative net operating loss carry-forward from continuing operations is approximately $3,728,083 at July 31, 2016, and will expire beginning in the year 2030.

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of June 30, 2016 and 2015:

 

    2016     2015  
Deferred tax asset attributable to:                
Net operating loss carryover   $ 1,267,548     $ 76,607  
Valuation allowance     (1,267,548 )     (76,607 )
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 $3,728,083 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.

( us-gaap:IncomeTaxDisclosureTextBlock )  
(End Disclosure - Income Taxes)
 
Disclosure - Orgnization and Summary of Significant Accounting Policies (Policies)
Disclosure - Orgnization and Summary of Significant Accounting Policies (Policies) (USD $) 12 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Jul. 31, 2016
   
   
   
Organization and Description of Business

Organization and Description of Business

 

Precious Investments, Inc. (Formerly FIGO Ventures, Inc.) (‘The Company’) was incorporated under the laws of the State of Nevada on May 26, 2004. The Company was an Exploration Stage Company with the principle business being the acquisition and exploration of resource properties.

 

The Company had allowed its charter with the state of Nevada to be revoked by the Secretary of State for failure to file the required annual lists and pay the required annual fees. Its last known officers and directors reflected in the records of the Secretary of State were unresponsive or stated they were no longer involved with the Company. The purported replacement officers and directors were unresponsive.

 

On September 14, 2012, NPNC Management, LLC filed a petition in the Eighth Judicial District Court in Clark County, Nevada and was appointed custodian of the Company on October 15, 2012.

 

In order to obtain basic operating capital to pay for the reinstatement of the Company’s good standing with the Nevada Secretary of State, to bring the Company’s account current with creditors essential for the reorganization of the Company, such as the transfer agent, and for basic general corporate purposes, on October 24, 2012, the interim board authorized the sale of 55,000,000 (2,200,000 split adjusted) shares of common stock for $6,000 to NPNC Management, LLC, in a private placement transaction exempt from the Securities Act of 1933, as amended, pursuant to section 4(2) thereof and the rules and regulations promulgated there under.

 

On October 24, 2012, NPNC Management, LLC appointed Bryan Clark as director of the Company, to hold office until such time as the shareholders elected a board. The interim board, consisting of Mr. Clark, further acted to appoint Mr. Clark as president, treasurer, and secretary of the Company, to act on behalf of the Company, and to hold such offices until removed by any subsequent board elected by the shareholders.

 

On November 13, 2013, Bryan Clark tendered his resignation from all positions as an Officer and Director of the Company and the Board appointed Anna Wlodarkiewicz as a Director, President, Secretary and Treasurer of the Company.

 

On October 9, 2014, Ania Wlodarkiewicz tendered her resignation from all positions as an Officer and Director of the Company and the Board appointed Nataliya Hearn as a Director, President, Secretary and Treasurer of the Company.

 

On March 28, 2016, Nataliya Hearn resigned as the Company’s Chief Executive Officer and Director. Mr. Kashif Khan is the Company’s sole officer and director.

 

The Company has completed an asset purchase agreement dated August 10, 2015 where the Company acquired from Kashif Khan, its sole officer and director, colored diamonds with a wholesale value of US$4 Million, which he was in control of, in exchange for issuing three secured demand convertible promissory notes totaling US$4 Million.

 

The Company is in the business of purchasing and selling colored diamonds.

( us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock )  
Basis of Presentation

Basis of Presentation

 

Our financial statements are presented in conformity with accounting principles generally accepted in the United States of America, as reported on our fiscal years ending on July 31, 2016 and 2015. We have summarized our most significant accounting policies.

( us-gaap:BasisOfAccountingPolicyPolicyTextBlock )  
Use of Estimates

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.

( us-gaap:UseOfEstimates )  
Derivative Financial Instruments

Derivative Financial Instruments

 

The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks.

The Company reviews the terms of convertible loans, equity instruments and other financing arrangements to determine whether there are embedded derivative instruments, including embedded conversion options that are required to be bifurcated and accounted for separately as a derivative financial instrument. Also, in connection with the issuance of financing instruments, the Company may issue freestanding options or warrants to employees and non-employees in connection with consulting or other services. These options or warrants may, depending on their terms, be accounted for as derivative instrument liabilities, rather than as equity.

Derivative financial instruments are initially measured at their fair value. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at fair value and then re-valued at each reporting date, with changes in the fair value reported as charges or credits to income. To the extent that the initial fair values of the freestanding and/or bifurcated derivative instrument liabilities exceed the total proceeds received an immediate charge to income is recognized in order to initially record the derivative instrument liabilities at their fair value.

The discount from the face value of the convertible debt instruments resulting from allocating some or all of the proceeds to the derivative instruments, together with the stated rate of interest on the instrument, is amortized over the life of the instrument through periodic charges to income, using the effective interest method.

The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. If reclassification is required, the fair value of the derivative instrument, as of the determination date, is reclassified. Any previous charges or credits to income for changes in the fair value of the derivative instrument are not reversed. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within twelve months of the balance sheet date.

( us-gaap:DerivativesPolicyTextBlock )  
Fair value of financial instruments

Fair value of financial instruments

 

The Company’s financial instruments consist of its liabilities. The carrying amount of payables and the loan payable – related party approximate fair value because of the short-term nature of these items. The promissory notes, and convertible notes payables are measured at amortized cost using the effective interest method, which approximates fair value due to the relationship between the interest rate on long-term debt and the Company’s incremental risk adjusted borrowing rate.

 

( us-gaap:FairValueOfFinancialInstrumentsPolicy )  
Inventories

Inventories

Inventory consist of loose colored diamond acquired during the period (See Note 7) and is stated at the lower of cost or net realizable value. The Company writes-down inventory once it has been determined that conditions exist that may not allow the inventory to be sold for its intended purpose or the inventory is determined to be excess or obsolete based on our forecasted future sales. The charge related to inventory write-downs is recorded as a cost of revenue.

( us-gaap:InventoryPolicyTextBlock )  
Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

Management has considered all recent accounting pronouncements issued since the last audit of its financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's financial statements.

( us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock )  
Net Loss per Common Share

Net Loss per Common Share

 

Basic earnings per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method.

( us-gaap:EarningsPerSharePolicyTextBlock )  
Long Lived Assets

Long-lived assets

 

Long-lived assets, including investments to be held and used or disposed of other than by sale, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. When required, impairment losses on assets to be held and used or disposed of other than by sale are recognized based on the fair value of the asset. Long-lived assets to be disposed of by sale are reported at the lower of the asset’s carrying amount or fair value less cost to sell.

( custom:LongLived [Extension] )  
(End Disclosure - Orgnization and Summary of Significant Accounting Policies (Policies))
 
Disclosure - Subsequent Events
Disclosure - Subsequent Events (USD $) 12 Months Ended
( us-gaap:SubsequentEventsAbstract )  
  Jul. 31, 2016
   
   
   
SUBSEQUENT EVENTS

NOTE 14 – SUBSEQUENT EVENTS

  

On October 26, 2016, the Company learned that it was not possible to obtain an audit of Karrah that we were required to file with the SEC in connection with the acquisition as a result of the nature of the company’s jewelry inventory. Because the Company was unable to obtain an audit of Karrah, on October 28, 2016, the Company has restructured the entire transaction by entering into a Termination and Restructure Agreement. First, the Company and Khan have mutually agreed to cancel the Agreement to acquire the issue and outstanding shares of stock in Karrah. Second, the Company agreed to purchase from Karrah its customer list in exchange for a revised promissory note (the “New Note”). The New Note will be in favor of Karrah (and not Khan), valued at $1,500,000 with interest at 6% per annum, and will not be secured by the assets of Karrah. The customer list has been invaluable in establishing our current colored diamond inventory. Third, we have acquired some of the inventory from Karrah, and the value of the New Note reflects that consideration as well. Finally, the Company will not be acquiring the accounts receivable of Karrah so the AR Note will be terminated.

 

On December 5, 2016, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Cornerstone United Capital, LLC (“Cornerstone”). Pursuant to the Purchase Agreement, the Company acquired from Cornerstone colored diamonds with a wholesale value of $105,000,000 (the “Assets”). We did not assume any of Cornerstone’s liabilities in the transaction.

 

In consideration for the Assets, we issued to Cornerstone and its nominees a total of 214,000,000 shares of common stock. In addition, Kashif Khan, our officer and director, agreed to transfer his 16,000,000 shares of common stock as part of the Purchase Agreement in exchange for 9,457,931 shares of our Series B Preferred Stock.

 

December 21, 2016, the Company was informed that Cornerstone could not fulfill its obligations under the Purchase Agreement. On February 14, 2017, Conerstone and its nominees returned the 214,000,000 shares of common stock issued under the Purchase Agreement to the Company’s treasury.

 

On December 6, 2016, the Company entered into a one year Consulting Agreement with Karrah, Inc. and Kashif Khan for the team to act as a non-exclusive advisor and sales agent in assisting us in the marketing and sales of our colored diamond inventory on an international basis and domestically.

 

In exchange for the consulting services, the Company agreed to allow the consultant to retain up to the first $1,500,000 in revenues generated, which shall be used exclusively to pay off that certain promissory note we issued to Karrah, Inc. dated October 28, 2016 in the principal amount of $1,500,000. Following such payment, we have agreed to a revenue share, with our company allotted 95% and the consultant allotted 5% of all gross revenues received solely from the efforts of the consultant in the sale of our diamond inventory. Sales conducted by us will not be subject to a revenue share.

 

On March 1, 2017, the Company entered into a joint venture agreement (the “JVA”) with Eddeb Management (“Eddeb”). The purpose of the joint venture is to build a fund for the purpose of trading in precious gems, notably, colored diamonds.

 

The material terms of the JVA for this joint venture are as follows:

 

§  the parties will be owners in an already formed Ontario corporation, known as Flawless Funds GP Inc. (the “Joint Venture”), with the Company owning 75% of the Joint Venture and Eddeb owning 25% of the Joint Venture;

§  the Company and Eddeb will contribute relationships and resources to the Joint Venture;

§  the Company will primarily be responsible for marketing and managing the fund;

§  Eddeb will be primarily responsible for fundraising activities;

§  the Company’s CEO, Kashif Khan, and Abdurrahman Eddeb of Eddeb will manage the day-to-day operations of the Joint Venture as directors; and

§  the parties agreed that officers may be appointed to delegate the responsibilities of the directors.

 

In order to acquire a 75% interest in the Joint Venture, the Company agreed to provide two founding partners to the Joint Venture a total of 16 million shares of the Company’s common stock in lieu of a percentage of the Joint Venture. These shares have not yet been issued.

( us-gaap:SubsequentEventsTextBlock )  
(End Disclosure - Subsequent Events)
 
Disclosure - Promissory Notes (Tables)
Disclosure - Promissory Notes (Tables) (USD $) 12 Months Ended
( us-gaap:DebtDisclosureAbstract )  
  Jul. 31, 2016
   
   
   
Schedule of Promissory Notes
Description   July 31,  2016    

July 31,

2015

 
Note payable dated January 15, 2014, matured January 15, 2015 bearing interest at 12% per annum.   $ 3,000     $ 3,000  
Note payable dated February 14, 2014 matured February 14, 2015, bearing interest at 12% per annum.     3,750       3,750  
Note payable dated April 1, 2014 matured April 1, 2015, bearing interest at 12% per annum.     4,700       4,700  
Note payable dated January 30, 2014, matured January 30, 2015, bearing interest at 12% per annum.     5,000       5,000  
Total   $ 16,450     $ 16,450  
( us-gaap:ScheduleOfDebtTableTextBlock )  
(End Disclosure - Promissory Notes (Tables))
 
Disclosure - Convertible Debt (Tables)
Disclosure - Convertible Debt (Tables) (USD $) 12 Months Ended
( custom:ConvertibleDebtDisclosureAbstract [Extension] )  
  Jul. 31, 2016
   
   
   
Summary of Convertible Debt
Description  

July 31,

2016

   

July 31,

2015

 
Convertible note agreement dated January 11, 2007, of up to $1,000,000 bearing interest at 10% per annum, originally scheduled to mature on January 11, 2009. Convertible by Lender at its sole option into units in the capital stock such that for each $0.40 of principal outstanding at the time of conversion may be converted into one unit consisting of one common share and one non-transferable share purchase warrant exercisable for a period of up to two years from the date of conversion. Each warrant shall entitle the Lender to purchase an additional common share of the Company at $0.60 during the term of the warrants. The remaining balance of the beneficial feature conversion applicable to this note at July 31, 2016 and 2015 was zero.   $ -     $ 289,140  
Convertible note agreements (3) dated November 1, 2013, totaling $45,000. Maturing on November 30, 2015 bearing interest at 12% per annum. Principal and accrued interest is convertible at $.00225 per share. The beneficial conversion feature was recorded as a discount to the debt and is being amortized over the term of the notes.     23,679       27,056  
Convertible note agreements (3) dated August 10, 2015, totaling $4,000,000. Maturing on August 9, 2018 or a) within 20 business days of a receipt of written demand from the holder for payment of all of the Notes, provided that i) we have not raised $5 million in debt or equity financing before written demand was tendered or any portion bearing interest at 6% per annum. Principal and accrued interest is convertible at $.247 per share. The beneficial conversion feature was recorded as a discount to the debt and is being amortized over the term of the notes. (See note 9)     -       -  
                 
Less: unamortized discount     (978 )     (3,910 )
Convertible notes, net of discount     22,701       312,285  
( us-gaap:ConvertibleDebtTableTextBlock )  
(End Disclosure - Convertible Debt (Tables))
 
Disclosure - Stock Options (Tables)
Disclosure - Stock Options (Tables) (USD $) 12 Months Ended
( us-gaap:EquityAbstract )  
  Jul. 31, 2016
   
   
   
Summary of the shares issued for services
    Number of Shares       Weighted Average Exercise Price  
Balance, July 31, 2015   —      $ 0.00  
Warrants granted and assumed   10,000,000     $ 0.10  
Warrants expired   —         —    
Warrants canceled   —         —    
Warrants exercised   10,000,000     $ 0.10  
Balance, July 31, 2016   —         —    
( us-gaap:ScheduleOfSaleOfStockBySubsidiaryOrEquityMethodInvesteeDisclosureTextBlock )  
(End Disclosure - Stock Options (Tables))
 
Disclosure - Income Taxes (Tables)
Disclosure - Income Taxes (Tables) (USD $) 12 Months Ended
( us-gaap:IncomeTaxDisclosureAbstract )  
  Jul. 31, 2016
   
   
   
Schedule of deferred tax benefit
    2016     2015  
Deferred tax asset attributable to:                
Net operating loss carryover   $ 1,267,548     $ 76,607  
Valuation allowance     (1,267,548 )     (76,607 )
Net deferred tax asset   $     $  
( us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock )  
(End Disclosure - Income Taxes (Tables))
 
Disclosure - Orgnization and Summary of Significant Accounting Policies (Details)
Disclosure - Orgnization and Summary of Significant Accounting Policies (Details) (Asset Management Company [Member], USD $) 0 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Oct. 24, 2012
( dei:LegalEntityAxis )  
   
( dei:EntityDomain )  
Accounting Policies Textual [Abstract]  
( custom:AccountingPoliciesTextualAbstract [Extension] )  
    Sale of stock during period, Shares 55,000,000
    ( us-gaap:StockIssuedDuringPeriodSharesNewIssues )  
    Stock splits 2,200,000
    ( us-gaap:StockIssuedDuringPeriodSharesStockSplits )  
    Sale of stock during period, Value 6,000
    ( us-gaap:StockIssuedDuringPeriodValueNewIssues )  
(End Disclosure - Orgnization and Summary of Significant Accounting Policies (Details))
 
Disclosure - Going Concern (Details)
Disclosure - Going Concern (Details) (USD $)  
( custom:GoingConcernAbstract [Extension] )  
  Jul. 31, 2016
   
   
   
Going Concern (Textual)  
( custom:GoingConcernTextualAbstract [Extension] )  
    Accumulated deficit (67,359,015 )
    ( us-gaap:RetainedEarningsAccumulatedDeficit )  
(End Disclosure - Going Concern (Details))
 
Disclosure - Biitgems Asset Management (Details)
Disclosure - Biitgems Asset Management (Details) (USD $) 12 Months Ended
( us-gaap:ExtractiveIndustriesAbstract )  
In Millions, except Share Data Jul. 31, 2016
   
   
   
Mineral Industries Textual [Abstract]  
( custom:MineralIndustriesTextualAbstract [Extension] )  
    Shares issued in exchange common stock, shares  
    ( us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction )  
    Shares issued in exchange common stock  
    ( us-gaap:SaleOfStockConsiderationReceivedOnTransaction )  
    Shares Returned 1,000,000
    ( custom:SharesReturned [Extension] )  
    Gain on Sale of Subsidiary 2,400,000
    ( custom:GainOnSaleOfSubsidiary [Extension] )  
    Prepaid Expense 2,092,500
    ( custom:PrepaidExpense [Extension] )  
(End Disclosure - Biitgems Asset Management (Details))
 
Disclosure - Prepaid Expenses (Details)
Disclosure - Prepaid Expenses (Details) (USD $)       12 Months Ended
( us-gaap:FairValueDisclosuresAbstract )        
  Oct. 1, 2015 Apr. 30, 2016 Apr. 30, 2016 Jul. 31, 2016
( us-gaap:FairValueByFairValueHierarchyLevelAxis )        
    Fair Value, Inputs, Level 2 [Member]    
( us-gaap:FairValueMeasurementsFairValueHierarchyDomain )        
Schedule of Fair Value Hierarchy        
( custom:ScheduleOfFairValueHierarchyAbstract [Extension] )        
    Current Convertible Notes   750,000    
    ( us-gaap:ConvertibleNotesPayableCurrent )        
    Balance   2,092,500 1,277,665  
    ( us-gaap:ConvertibleNotesPayable )        
    Common Stock Issued 500,000 1,000,000    
    ( us-gaap:EquityIssuedInBusinessCombinationFairValueDisclosure )        
    Value of Common Stock Issued       2092500
    ( us-gaap:FairValueOptionEventsTriggeringElectionReasons )        
    Common Stock Issued upon Milestone 250,000   250,000  
    ( us-gaap:ConvertibleDebtFairValueDisclosures )        
(End Disclosure - Prepaid Expenses (Details))
 
Disclosure - Promissory Notes (Details)
Disclosure - Promissory Notes (Details) (USD $)                    
( us-gaap:DebtDisclosureAbstract )                    
  Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2015 Jul. 31, 2015 Jul. 31, 2015 Jul. 31, 2015 Jul. 31, 2015
( us-gaap:DebtInstrumentAxis )                    
  Promissory Notes Three [Member] Promissory Notes Two [Member] Promissory Notes One [Member] Promissory Notes Four [Member]   Promissory Notes Three [Member] Promissory Notes Two [Member] Promissory Notes One [Member] Promissory Notes Four [Member]  
( us-gaap:DebtInstrumentNameDomain )                    
Notes payable, Total 4,700 3,750 3,000 5,000 16,450 4,700 3,750 3,000 5,000 16,450
( us-gaap:NotesPayableCurrent )                    
(End Disclosure - Promissory Notes (Details))
 
Disclosure - Promissory Notes (Details Textual)
Disclosure - Promissory Notes (Details Textual) (USD $) 12 Months Ended         12 Months Ended
( us-gaap:DebtDisclosureAbstract )            
In Hundreds, except Share Data Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2015
( us-gaap:DebtInstrumentAxis )                    
  Promissory Notes Two [Member] Promissory Notes Three [Member] Promissory Notes Four [Member] Promissory Notes One [Member] Promissory Notes Two [Member] Promissory Notes Three [Member] Promissory Notes Four [Member] Promissory Notes One [Member]    
( us-gaap:DebtInstrumentNameDomain )                    
Promissory Notes (Textual)                    
( custom:PromissoryNotesTextualAbstract [Extension] )                    
    Notes payable, issuance date 2014-02-14 2014-04-01 2014-01-30 2014-01-15            
    ( us-gaap:DebtInstrumentIssuanceDate1 )                    
    Notes payable, maturity date 2015-02-14 2015-04-01 2015-01-30 2015-01-15            
    ( us-gaap:DebtInstrumentMaturityDate )                    
    Notes payable, rate of interest         0.12 0.12 0.12 0.12    
    ( us-gaap:DebtInstrumentInterestRateStatedPercentage )                    
    Interest Expense                 1,979 3,246
    ( custom:InterestExpenseForPeriod [Extension] )                    
(End Disclosure - Promissory Notes (Details Textual))
 
Disclosure - Convertible Debt (Details)
Disclosure - Convertible Debt (Details) (USD $)            
( custom:ConvertibleDebtDisclosureAbstract [Extension] )            
  Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2015 Jul. 31, 2015 Jul. 31, 2015
( us-gaap:ShortTermDebtTypeAxis )            
  Convertible Debt One [Member] Convertible Debt [Member]   Convertible Debt One [Member] Convertible Debt [Member]  
( us-gaap:ShortTermDebtTypeDomain )            
Convertible notes payable [Abstract]            
( us-gaap:ConvertibleLongtermNotesPayableCurrentAndNoncurrentAbstract )            
    Convertible notes 0 289,140 23,679 27,056 289,140  
    ( custom:ConvertibleNotesPayableGross [Extension] )            
    Less: unamortized discount     (978 )     (3,910 )
    ( us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet )            
    Convertible notes, net of discount     22,701     312,285
    ( us-gaap:ConvertibleNotesPayable )            
    Less: current maturities            
    ( us-gaap:ConvertibleNotesPayableCurrent )            
    Long term maturities            
    ( us-gaap:ConvertibleLongTermNotesPayable )            
(End Disclosure - Convertible Debt (Details))
 
Disclosure - Convertible Debt (Details Textual)
Disclosure - Convertible Debt (Details Textual) (USD $) 12 Months Ended          
( custom:ConvertibleDebtDisclosureAbstract [Extension] )            
  Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2016 Sep. 24, 2015 Aug. 22, 2015 Aug. 19, 2015
( us-gaap:ShortTermDebtTypeAxis )              
  Convertible Debt One [Member] Convertible Debt [Member] Convertible Debt One [Member] Convertible Debt [Member]      
( us-gaap:ShortTermDebtTypeDomain )              
Convertible Debt (Textual)              
( custom:ConvertibleDebtTextualAbstract [Extension] )              
    Convertible debt     45,000 1,000,000      
    ( us-gaap:ConvertibleDebt )              
    Convertible payable, Issuance Date 2013-11-01 2009-01-11          
    ( us-gaap:DebtInstrumentIssuanceDate1 )              
    Convertible note, rate of interest     0.12 0.10      
    ( us-gaap:DebtInstrumentInterestRateStatedPercentage )              
    Convertible notes, conversion price     0.00225 0.40 0.00225 0.00225 0.00225
    ( us-gaap:DebtInstrumentConvertibleConversionPrice1 )              
    Convertible notes, terms of conversion feature   <div>At the time of conversion may be converted into one unit consisting of one common share and one non-transferable share purchase warrant exercisable for a period of up to two years from the date of conversion. Each warrant shall entitle the Lender to purchase an additional common share of the Company at $0.60 during the term of the warrants. The beneficial conversion remaining balance applicable to this note at April 30, 2015 and July 31, 2014 was zero.</div>          
    ( us-gaap:DebtInstrumentConvertibleTermsOfConversionFeature )              
(End Disclosure - Convertible Debt (Details Textual))
 
Disclosure - Related Party Transactions (Details)
Disclosure - Related Party Transactions (Details) (USD $)    
( us-gaap:RelatedPartyTransactionsAbstract )    
  Jul. 31, 2016 Jul. 31, 2015
     
     
     
Related Party Transactions (Textual)    
( custom:RelatedPartyTransactionsTextualAbstract [Extension] )    
    Loan payable - related party 159,717 45,949
    ( us-gaap:DueToRelatedPartiesCurrent )    
    Shareholder Advances 113,768 42,768
    ( custom:ShareholderAdvances [Extension] )    
(End Disclosure - Related Party Transactions (Details))
 
Disclosure - Karrah, Inc. (Details Narrative)
Disclosure - Karrah, Inc. (Details Narrative) (USD $) 12 Months Ended
( custom:NotesToFinancialStatementsAbstract [Extension] )  
  Jul. 31, 2016
   
   
   
Letter of Intent 2016-03-28
( custom:LetterOfIntent [Extension] )  
Three Year Promissory Note 1,500,000
( custom:PromissoryNote [Extension] )  
Interest on Promissory Note 0.06
( custom:InterestOnPromissoryNote [Extension] )  
(End Disclosure - Karrah, Inc. (Details Narrative))
 
Disclosure - Stock Options (Policies)
Disclosure - Stock Options (Policies) (USD $) 12 Months Ended
( OtherLiabilitiesDisclosureAbstract )  
  Jul. 31, 2016 Jul. 31, 2015
     
     
     
Number of Shares   0
( custom:NumberOfShares [Extension] )    
Weighted Average Excerciise Price   0.00
( custom:WeightedAverage [Extension] )    
Weighted Average Excerciise Price 2016 0.10  
( custom:Weighted2016 [Extension] )    
Warrants Granted and Assumed 10,000,000  
( custom:WarrantsExpired [Extension] )    
Warrants Excerised 10,000,000  
( custom:WarrantsExercised [Extension] )    
(End Disclosure - Stock Options (Policies))
 
Disclosure - Stock Options (Details Narrative)
Disclosure - Stock Options (Details Narrative) (USD $) 12 Months Ended
( OtherLiabilitiesDisclosureAbstract )  
  Jul. 31, 2016
   
   
   
Options to Purchase Date 2016-07-29
( custom:OptionToPurchaseDate [Extension] )  
Option to purchase shares 10,000,000
( custom:OptionToPurchaseShares [Extension] )  
exercise price 0.10
( custom:ExerrcisePrice [Extension] )  
Value of Shares 29,799,644
( custom:ValueOfShares [Extension] )  
Term of option Y5
====>>>ELEMENT REQUIRED  
Risk free rate 1.03
( custom:RiskFreeRate [Extension] )  
Dividend Yield 0
( custom:DividendYield [Extension] )  
Volatility Rate 793.31
( custom:VolatilityRate [Extension] )  
Date Vested 2016-07-31
( custom:DateVested [Extension] )  
(End Disclosure - Stock Options (Details Narrative))
 
Disclosure - Stockholders' Equity (Details)
Disclosure - Stockholders' Equity (Details) (USD $) 9 Months Ended     12 Months Ended
( us-gaap:EquityAbstract )        
  Apr. 30, 2016 Sep. 18, 2015 Nov. 1, 2013 Jul. 31, 2016
         
         
         
Stockholders' Equity (Textual)        
( custom:StockholdersEquityTextualAbstract [Extension] )        
    Number of units issued   1,000    
    ( us-gaap:SharesIssued )        
    Rights, stock or warrants price   2,000    
    ( us-gaap:WarrantsAndRightsOutstanding )        
    Cash Received 33,586      
    ( us-gaap:SaleOfStockConsiderationReceivedOnTransaction )        
    Shares Issued 335,860      
    ( us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction )        
    Shares Issued for conversion 750,000      
    ( us-gaap:AuctionMarketPreferredSecuritiesSharesIssued )        
    Value of Shares Issued for conversion     1,800  
    ( us-gaap:CommonStockOtherValueOutstanding )        
    Shares Issued for Services 500,000      
    ( us-gaap:StockIssuedDuringPeriodSharesIssuedForServices )        
    Value of Shares Issued for services 1,490,000      
    ( custom:ValueOfSharesIssuedForServices [Extension] )        
    Shares Issued for Services (Returned) 1,000,000      
    ( custom:ShareIissuedForServicesAndReturned [Extension] )        
    Value of Shares Issued for services (Reurned) 2,790,000      
    ( custom:ValueOfSharesIssuedForServicesAndReturned [Extension] )        
(End Disclosure - Stockholders' Equity (Details))
 
Disclosure - Commitments and Contingecies (Details)
Disclosure - Commitments and Contingecies (Details) (USD $) 12 Months Ended
( us-gaap:AccountingPoliciesAbstract )  
  Jul. 31, 2016
   
   
   
Eplayment Agreement Date 2016-07-29
( custom:EmploymentAgreementDate [Extension] )  
Base Salary 100,000
( custom:BaseSalary [Extension] )  
Performance Bonus 0.50
( custom:PerformanceBonus [Extension] )  
Shares Granted 6,500,000
( custom:SharesGranted [Extension] )  
Stock Options 10,000,000
( custom:StockOptions [Extension] )  
(End Disclosure - Commitments and Contingecies (Details))
 
Disclosure - Income Taxes (Details)
Disclosure - Income Taxes (Details) (USD $)    
( us-gaap:IncomeTaxDisclosureAbstract )    
  Jul. 31, 2016 Jul. 31, 2015
     
     
     
Deferred tax benefit 1,267,548 78,607
( us-gaap:DeferredTaxAssetsGross )    
Valuation allowance (1,267,548 ) (76,607 )
( us-gaap:DeferredTaxAssetsValuationAllowance )    
Net deferred tax benefit    
( us-gaap:DeferredTaxAssetsLiabilitiesNet )    
(End Disclosure - Income Taxes (Details))
 
Disclosure - Income Taxes (Details Textual)
Disclosure - Income Taxes (Details Textual) (USD $) 12 Months Ended      
( us-gaap:IncomeTaxDisclosureAbstract )        
In Hundreds, except Share Data Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2015 Jul. 31, 2014
         
         
         
Income Taxes (Textual)        
( custom:IncomeTaxesTextualAbstract [Extension] )        
    Total valuation allowance   3,728,083   34,000
    ( us-gaap:DeferredTaxAssetsNet )        
    Taxable cumulative   3,728,083    
    ( us-gaap:DeferredIncomeTaxLiabilities )        
    Tax rate 0.34      
    ( us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes )        
    Total deferred tax        
    ( us-gaap:DeferredTaxAssetsGross )        
(End Disclosure - Income Taxes (Details Textual))
 
Disclosure - Subsequent Events (Details)
Disclosure - Subsequent Events (Details) (USD $) 0 Months Ended 1 Month Ended         12 Months Ended    
( custom:SubsequentEventDetailsUsdAbstract [Extension] )                  
  Dec. 21, 2016 Oct. 26, 2016 Oct. 28, 2016 Apr. 25, 2016 May. 5, 2016 May. 16, 2016 Jul. 31, 2016 Jul. 31, 2016 Jul. 31, 2015
( us-gaap:DebtInstrumentAxis )                  
                   
( us-gaap:DebtInstrumentNameDomain )                  
Return of Shares 214,000,000                
( us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate )                  
Plans to issue Promissory Note             16,000,000    
( us-gaap:IncreaseDecreaseInNotesPayableRelatedParties )                  
Convertible effective percentage       0.06          
( us-gaap:DebtInstrumentInterestRateEffectivePercentage )                  
Shares Issued                  
( us-gaap:CommonStockIssuedEmployeeStockTrust )                  
Common Stock Issued     1,500,000   414,250     214,000,000  
( us-gaap:CommonStockShareSubscribedButUnissuedSubscriptionsReceivable )                  
Value of Common Stock Issued   1,500,000              
( custom:ValueOfCommonStockIssued [Extension] )                  
Common Stock Issued for Conversion of Note Payable           450,000      
( custom:CommonStockIssuedForConversionOfNotePayable [Extension] )                  
Interest   0.06              
( custom:Interest [Extension] )                  
Prefferred Stock Issued               16,000,000  
( custom:PreferredStockIssued [Extension] )                  
Transfer of common shares               9,457,931  
( custom:TransferCommonShares [Extension] )                  
Interest in Joint Venture             0.75    
( custom:InterestInJointVenture [Extension] )                  
(End Disclosure - Subsequent Events (Details))
Contexts
ID Period CIK Dimensions
From2015-08-01to2016-07-31 2015-08-01 - 2016-07-31 0001304741  
AsOf2017-03-08 2017-03-08 0001304741  
AsOf2017-02-14 2017-02-14 0001304741  
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AsOf2015-07-31 2015-07-31 0001304741  
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  Asset management company.  
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  Convertible debt disclosure.  
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  Convertible notes payable gross.  
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  Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.  
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  All the names of the entities being reported upon in a document. Any legal structure used to conduct activities or to hold assets. Some examples of such structures are corporations, partnerships, limited liability companies, grantor trusts, and other trusts. This item does not include business and geographical segments which are included in the geographical or business segments domains.  
dei:EntityFilerCategory dei:filerCategoryItemType   Duration      
  Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.  
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  State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.  
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  The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.  
dei:EntityVoluntaryFilers dei:yesNoItemType   Duration      
  Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  
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  The set of legal entities associated with a report.  
us-gaap:AccountingPoliciesAbstract xbrli:stringItemType   Duration      
   
us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent xbrli:monetaryItemType   Instant   Credit    
  Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.  
us-gaap:AccumulatedOtherComprehensiveIncomeMember nonnum:domainItemType   Duration      
  Accumulated increase (decrease) in equity from transactions and other events and circumstances from non-owner sources, attributable to the parent. Excludes net income (loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners.  
us-gaap:AdditionalPaidInCapital xbrli:monetaryItemType   Instant   Credit    
  Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.  
us-gaap:AdditionalPaidInCapitalMember nonnum:domainItemType   Duration      
  Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders.  
us-gaap:AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation xbrli:monetaryItemType   Duration   Debit    
  The amount of adjustment to stockholders' equity associated with an employee's income tax withholding obligation as part of a net-share settlement of a share-based award.  
us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract xbrli:stringItemType   Duration      
   
us-gaap:AmortizationOfDebtDiscountPremium xbrli:monetaryItemType   Duration   Debit    
  Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense.  
us-gaap:Assets xbrli:monetaryItemType   Instant   Debit    
  Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.  
us-gaap:AssetsAbstract xbrli:stringItemType   Duration      
   
us-gaap:AuctionMarketPreferredSecuritiesSharesIssued xbrli:sharesItemType   Duration      
  Number of auction market preferred securities shares issued.  
us-gaap:BasisOfAccountingPolicyPolicyTextBlock nonnum:textBlockItemType   Duration      
  Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).  
us-gaap:CashAndCashEquivalentsAtCarryingValue xbrli:monetaryItemType   Instant   Debit    
  Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.  
us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease xbrli:monetaryItemType   Duration   Debit    
  Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.  
us-gaap:ClassOfStockLineItems xbrli:stringItemType   Duration      
  Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.  
us-gaap:CommitmentsAndContingenciesDisclosureAbstract xbrli:stringItemType   Duration      
   
us-gaap:CommitmentsAndContingenciesDisclosureTextBlock nonnum:textBlockItemType   Duration      
  The entire disclosure for commitments and contingencies.  
us-gaap:CommonStockIssuedEmployeeStockTrust xbrli:monetaryItemType   Instant   Debit    
  Value of common stock issued to a trust (for example, a 'rabbi trust') set up specifically to accumulate stock for the sole purpose of distribution to participating employees. This trust does not allow employees to immediately or after a holding period diversify into nonemployer securities. The deferred compensation plan for which this trust is set up must be settled by the delivery of a fixed number of shares of employer stock.  
us-gaap:CommonStockMember nonnum:domainItemType   Duration      
  Stock that is subordinate to all other stock of the issuer.  
us-gaap:CommonStockOtherValueOutstanding xbrli:monetaryItemType   Instant   Credit    
  Value of shares of other common stock instruments held by shareholders, such as exchangeable shares. May be all or portion of the number of common shares authorized.  
us-gaap:CommonStockParOrStatedValuePerShare num:perShareItemType   Instant      
  Face amount or stated value per share of common stock.  
us-gaap:CommonStockShareSubscribedButUnissuedSubscriptionsReceivable xbrli:monetaryItemType   Instant   Debit    
  Amount of subscription receivable from investors who have been allocated common stock.  
us-gaap:CommonStockSharesAuthorized xbrli:sharesItemType   Instant      
  The maximum number of common shares permitted to be issued by an entity's charter and bylaws.  
us-gaap:CommonStockSharesIssued xbrli:sharesItemType   Instant      
  Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.  
us-gaap:CommonStockSharesOutstanding xbrli:sharesItemType   Instant      
  Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.  
us-gaap:CommonStockValue xbrli:monetaryItemType   Instant   Credit    
  Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.  
us-gaap:ConvertibleDebt xbrli:monetaryItemType   Instant   Credit    
  Including the current and noncurrent portions, carrying amount of debt identified as being convertible into another form of financial instrument (typically the entity's common stock) as of the balance sheet date, which originally required full repayment more than twelve months after issuance or greater than the normal operating cycle of the company.  
us-gaap:ConvertibleDebtFairValueDisclosures xbrli:monetaryItemType   Instant   Credit    
  Fair value portion of borrowing which can be exchanged for a specified number of another security at the option of the issuer or the holder, for example, but not limited to, the entity's common stock.  
us-gaap:ConvertibleDebtMember nonnum:domainItemType   Duration      
  Borrowing which can be exchanged for a specified number of another security at the option of the issuer or the holder, for example, but not limited to, the entity's common stock.  
us-gaap:ConvertibleDebtTableTextBlock nonnum:textBlockItemType   Duration      
  Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components.  
us-gaap:ConvertibleLongTermNotesPayable xbrli:monetaryItemType   Instant   Credit    
  Carrying value as of the balance sheet date of long-term debt (with maturities initially due after one year or beyond the operating cycle if longer) identified as Convertible Notes Payable, excluding current portion. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder.  
us-gaap:ConvertibleLongtermNotesPayableCurrentAndNoncurrentAbstract xbrli:stringItemType   Duration      
   
us-gaap:ConvertibleNotesPayable xbrli:monetaryItemType   Instant   Credit    
  Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or more securities (typically common stock), at the option of the issuer or the holder.  
us-gaap:ConvertibleNotesPayableCurrent xbrli:monetaryItemType   Instant   Credit    
  Carrying value as of the balance sheet date of the portion of long-term debt due within one year or the operating cycle if longer identified as Convertible Notes Payable. Convertible Notes Payable is a written promise to pay a note which can be exchanged for a specified amount of another, related security, at the option of the issuer and the holder.  
us-gaap:CostOfRevenue xbrli:monetaryItemType   Duration   Debit    
  The aggregate cost of goods produced and sold and services rendered during the reporting period.  
us-gaap:DebtDisclosureAbstract xbrli:stringItemType   Duration      
   
us-gaap:DebtDisclosureTextBlock nonnum:textBlockItemType   Duration      
  The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.  
us-gaap:DebtInstrumentAxis xbrli:stringItemType   Duration      
  Information by type of debt instrument, including, but not limited to, draws against credit facilities.  
us-gaap:DebtInstrumentConvertibleBeneficialConversionFeature xbrli:monetaryItemType   Duration   Credit    
  Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date.  
us-gaap:DebtInstrumentConvertibleConversionPrice1 num:perShareItemType   Instant      
  The price per share of the conversion feature embedded in the debt instrument.  
us-gaap:DebtInstrumentConvertibleTermsOfConversionFeature xbrli:stringItemType   Duration      
  Description of the conversion terms of a debt instrument which may include the conversion ratio (including all potential conversion ratios if contingently adjustable), type of debt or equity security into which the debt is convertible, the dollars of debt or the number of shares into which the instrument is convertible (or potentially convertible into), the conversion period, any contingencies associated with the conversion terms, and the existence and amount of a beneficial conversion feature.  
us-gaap:DebtInstrumentInterestRateEffectivePercentage num:percentItemType   Instant      
  Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.  
us-gaap:DebtInstrumentInterestRateStatedPercentage num:percentItemType   Instant      
  Contractual interest rate for funds borrowed, under the debt agreement.  
us-gaap:DebtInstrumentIssuanceDate1 xbrli:dateItemType   Duration      
  Date the debt instrument was issued, in CCYY-MM-DD format.  
us-gaap:DebtInstrumentMaturityDate xbrli:dateItemType   Duration      
  Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.  
us-gaap:DebtInstrumentNameDomain nonnum:domainItemType   Duration      
  The name for the particular debt instrument or borrowing that distinguishes it from other debt instruments or borrowings, including draws against credit facilities.  
us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet xbrli:monetaryItemType   Instant   Debit    
  Amount, after accumulated amortization, of debt discount (premium).  
us-gaap:DeferredIncomeTaxLiabilities xbrli:monetaryItemType   Instant   Credit    
  Amount of deferred tax liability attributable to taxable temporary differences.  
us-gaap:DeferredTaxAssetsGross xbrli:monetaryItemType   Instant   Debit    
  Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.  
us-gaap:DeferredTaxAssetsLiabilitiesNet xbrli:monetaryItemType   Instant   Debit    
  Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.  
us-gaap:DeferredTaxAssetsNet xbrli:monetaryItemType   Instant   Debit    
  Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.  
us-gaap:DeferredTaxAssetsValuationAllowance xbrli:monetaryItemType   Instant   Credit    
  Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.  
us-gaap:DefinedBenefitPlanDisclosureLineItems xbrli:stringItemType   Duration      
  Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.  
us-gaap:DerivativesPolicyTextBlock nonnum:textBlockItemType   Duration      
  Disclosure of accounting policy for its derivative instruments and hedging activities.  
us-gaap:DueToRelatedPartiesCurrent xbrli:monetaryItemType   Instant   Credit    
  Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).  
us-gaap:EarningsPerSharePolicyTextBlock nonnum:textBlockItemType   Duration      
  Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.  
us-gaap:EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes num:percentItemType   Duration      
  Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit).  
us-gaap:EquityAbstract xbrli:stringItemType   Duration      
   
us-gaap:EquityComponentDomain nonnum:domainItemType   Duration      
  Components of equity are the parts of the total Equity balance including that which is allocated to common, preferred, treasury stock, retained earnings, etc.  
us-gaap:EquityIssuedInBusinessCombinationFairValueDisclosure xbrli:monetaryItemType   Instant   Credit    
  Fair value of equity issued in a business combination.  
us-gaap:ExtractiveIndustriesAbstract xbrli:stringItemType   Duration      
   
us-gaap:FairValueByFairValueHierarchyLevelAxis xbrli:stringItemType   Duration      
  Information by level within the fair value hierarchy.  
us-gaap:FairValueDisclosuresAbstract xbrli:stringItemType   Duration      
   
us-gaap:FairValueDisclosuresTextBlock nonnum:textBlockItemType   Duration      
  The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related i  
us-gaap:FairValueInputsLevel2Member nonnum:domainItemType   Duration      
  Inputs other than quoted prices included within level 1 that are observable for an asset or liability, either directly or indirectly, including, but not limited to, quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in inactive markets.  
us-gaap:FairValueMeasurementsFairValueHierarchyDomain nonnum:domainItemType   Duration      
  Categories used to prioritize the inputs to valuation techniques to measure fair value.  
us-gaap:FairValueOfFinancialInstrumentsPolicy nonnum:textBlockItemType   Duration      
  Disclosure of accounting policy for determining the fair value of financial instruments.  
us-gaap:FairValueOptionEventsTriggeringElectionReasons xbrli:stringItemType   Duration