INFITECH VENTURES INC
CIK:0001129096|SEC Filings
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Apr. 30, 2020 |
Apr. 30, 2019 |
Apr. 30, 2020 |
Apr. 30, 2019 |
|
| Expenses | ||||
| Contributed executive services | $ 15,000 | $ 15,000 | $ 45,000 | $ 45,000 |
| Office | 2,184 | 2,207 | 7,350 | 7,646 |
| Professional fees | 4,820 | 4,656 | 14,550 | 13,535 |
| Rent | 600 | 600 | 1,800 | 1,800 |
| Foreign exchange gain | (4,338) | (1,669) | (4,898) | (2,310) |
| Net loss | $ (18,266) | $ (20,794) | $ (63,802) | $ (65,671) |
| Basic and diluted net loss per share (in dollars per share) | $ (0.00) | $ (0.00) | $ (0.00) | $ (0.00) |
| Weighted average number of common shares outstanding - basic and diluted (in shares) | 15,128,332 | 15,128,332 | 15,128,332 | 15,128,332 |
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) |
9 Months Ended | |
|---|---|---|
Apr. 30, 2020 |
Apr. 30, 2019 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss for the period | $ (63,802) | $ (65,671) |
| Items not affecting cash: | ||
| Contributed executive services | 45,000 | 45,000 |
| Unrealized foreign exchange gain | (4,898) | (1,275) |
| Changes in non-cash working capital items: | ||
| Decrease in accounts payable and accrued liabilities | (2,814) | (6,641) |
| Increase in accounts payable and accrued liabilities - related party | 1,800 | 1,800 |
| Net cash used in operating activities | (24,714) | (26,787) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Increase in due to related parties | 21,711 | 27,216 |
| Net cash provided by financing activities | 21,711 | 27,216 |
| Change in cash for the period | (3,003) | 429 |
| Cash, beginning of period | 4,421 | 511 |
| Cash, end of period | 1,418 | 940 |
| Cash paid for interest during the period | 0 | 4 |
| Cash paid for income taxes during the period | $ 0 | $ 0 |
BALANCE SHEETS (Unaudited) - USD ($) |
Apr. 30, 2020 |
Jul. 31, 2019 |
|---|---|---|
| Current | ||
| Cash | $ 1,418 | $ 4,421 |
| Total assets | 1,418 | 4,421 |
| Current | ||
| Accounts payable and accrued liabilities | 15,088 | 19,217 |
| Accounts payable and accrued liabilities - related party | 40,200 | 38,400 |
| Due to related parties | 393,453 | 375,325 |
| Total current liabilities | 448,741 | 432,942 |
| Stockholders' deficiency | ||
| Common stock Authorized 100,000,000 common shares with par value of $0.001 Issued and outstanding 15,128,332 shares (July 31, 2019 - 15,128,332) | 15,128 | 15,128 |
| Additional paid-in capital | 1,288,132 | 1,243,132 |
| Accumulated deficit | (1,750,583) | (1,686,781) |
| Total stockholders' deficiency | (447,323) | (428,521) |
| Total liabilities and stockholders' deficiency | $ 1,418 | $ 4,421 |