Arax Holdings Corp

CIK:0001566243|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (Audited) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Revenue
Revenue	$ 311,886	$ 909,176
Revenue- related party	301,750
Cost of revenue
Gross Profit (Loss)	613,636	909,176
Operating expenses:
General and administrative expenses(including stock-based compensation of $724,862 and $1,963,296, respectively)	3,839,240	7,445,821
Depreciation and amortization	65,960	49,096
Total Operating Expenses	3,905,200	7,494,917
LOSS FROM OPERATIONS	(3,291,564)	(6,585,741)
OTHER INCOME (EXPENSE):
Impairment expense	(169,373)
Loss on short-term borrowing settlement	(103,400)
OID expense		(750)
Total Other Expense	(272,773)	(750)
Net loss before taxes	(3,564,336)	(6,586,491)
Income tax provision (benefit)
Net loss	$ (3,564,336)	$ (6,586,491)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Audited) - USD ($)	12 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,564,336)	$ (6,586,491)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on settlement of debt	103,400
Depreciation	604	79
Amortization expense	65,356	49,017
Amortization of debt issuance expense	377	750
Equity based compensation expense - stock	724,862	1,963,296
Impairment loss on Software	169,373
Provision for credit losses (allowance)	226,886
Changes in operating assets and liabilities
Accounts receivable- related party, net	(528,636)
Accounts payable and accrued liabilities	345,502	106,599
Net cash used in operating activities	(2,456,612)	(4,446,750)
CASH FLOWS FROM INVESTING ACTIVITIES
Capitalized software and development costs		(326,780)
Purchase of property, plant and equipment, net		(1,589)
Capitalized software and development costs		(169,373)
Net cash used in investing activities		(497,742)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable	1,127,000	6,413,260
Net cash provided by financing activities	1,127,000	6,413,260
Net decrease in cash and cash equivalents	(1,329,612)	1,448,769
Cash and cash equivalents, beginning of the year	1,448,769
Cash and cash equivalents, end of the year	119,157	1,448,769
Supplemental disclosure of Noncash financing and investing activities:
Issuance of common stock upon conversion of convertible promissory notes	268,005	6,495,100
Non-cash proceeds from short-term borrowings	44,000
Issuance of common stock upon settlement of debt	147,400
Issuance of common stock for debt treated as a capital contribution	95,375
Issuance of common stock for intangible assets related to the Cilandro acquisition		$ 110,000

CONSOLIDATED BALANCE SHEETS (Audited) - USD ($)	Oct. 31, 2024	Oct. 31, 2023
Current Assets
Cash	$ 119,157	$ 1,448,769
Accounts receivable, net	301,750
Total current assets	420,907	1,448,769
Property, plant and equipment, net	906	1,510
Capitalized Software, net	212,407	277,763
Intangible assets	268,000	268,000
Other Assets		169,373
TOTAL ASSETS	902,220	2,165,414
Current Liabilities:
Accounts payable	103,298	100,000
Accrued expenses	397,580	100,378
Due to related party	157,756	157,756
Notes payable	765,000
Total current liabilities	1,423,633	358,134
TOTAL LIABILITIES :-	1,423,633	358,134
Commitments and contingencies (Note 10)
STOCKHOLDERS’ DEFICIT:
Preferred Stock Series A, par value $0.001, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding as of October 31, 2024 and October 31, 2023, respectively	10,000	10,000
Common stock, par value $0.0001, 950,000,000 shares authorized, 129,641,074 and 126,160,534 issued and outstanding as of October 31, 2024 and October 31, 2023, respectively	12,964	12,616
Common stock to be issued	33,142	33,142
Additional paid in capital	10,452,313	9,217,019
Accumulated deficit	(11,029,833)	(7,465,496)
TOTAL STOCKHOLDERS’ EQUITY	(521,414)	1,807,280
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 902,220	$ 2,165,414