Mirage Energy Corp

CIK:0001623360|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Jul. 31, 2021	Jul. 31, 2020
OPERATING EXPENSES
General and administrative expenses	$ 3,155,895	$ 929,142
Professional fees	61,176	99,563
Total Operating Expenses	3,217,071	1,028,705
LOSS FROM OPERATIONS	(3,217,071)	(1,028,705)
OTHER EXPENSES
Interest expense	60,463	103,517
Change in fair value of convertible debt	753,376	3,991,040
Penalty on convertible debt	191,750	230,942
Total Other Expense	1,005,589	4,325,499
LOSS BEFORE INCOME TAXES	(4,222,660)	(5,354,204)
NET LOSS	$ (4,222,660)	$ (5,354,204)
Basic and Diluted Loss per Common Share	$ (0.01)	$ (0.01)
Basic and Diluted Weighted Average Common Shares Outstanding	471,364,258	424,924,258

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jul. 31, 2021	Jul. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,222,660)	$ (5,354,204)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Depreciation expense	1,449	1,581
Financing fees	17,000	38,098
Loss on change in fair value of convertible debt	753,376	3,991,040
Penalty on convertible debt	191,750	230,942
Expenses paid by shareholder	28,188	29,642
Issuance of stock for services and fees	2,254,637	0
Changes in operating assets and liabilities:
Prepaid expenses	(40,860)	(7,799)
Accounts payable and accrued expenses	189,296	247,192
Accrued salaries and payroll taxes, related parties	6,229	(66,865)
Net cash used in operating activities	(821,595)	(890,373)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loan, related party	0	10,100
Repayments of loan, related party	(28,188)	(39,742)
Proceeds from sale of common stock	415,000	719,000
Proceeds from sale of convertible debt	367,000	297,500
Net cash provided by financing activities	753,812	986,858
Net increase (decrease) in cash	(67,783)	96,485
Cash and cash equivalents - beginning of period	166,941	70,456
Cash and cash equivalents - end of period	99,158	166,941
Supplemental Cash Flow Disclosures
Cash paid for interest	3,232	1,533
Supplemental Non-Cash Activity Disclosures
Stock issued for convertible debt and interest	1,340,263	4,921,471
Cashless exercise of warrants	4,235	$ 7,807
Stock cancellation of stock subscription	$ 20,000

Consolidated Balance Sheets - USD ($)	Jul. 31, 2021	Jul. 31, 2020
Current Assets
Cash and cash equivalents	$ 99,158	$ 166,941
Prepaid expenses	50,419	9,559
Total Current Assets	149,577	176,500
Property, plant and equipment, net	0	1,449
Other Assets
Deposits	6,921	6,921
Total Other Assets	6,921	6,921
TOTAL ASSETS	156,498	184,870
Current Liabilities
Accounts payable and accrued liabilities	1,005,926	836,290
Loan payable	127,844	127,844
Convertible debentures	289,905	281,351
Accrued salaries and payroll taxes, related parties	1,801,300	1,795,071
Total Current Liabilities	3,224,975	3,040,556
Long-Term Liabilities
Loans payable	1,203	1,234
TOTAL LIABILITIES	3,226,178	3,041,790
STOCKHOLDERS' DEFICIT
Preferred stock, par value $0.001, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding as of July 31, and July 31, 2020	10,000	10,000
Common stock, par value $0.001, 900,000,000 shares authorized, 478,824,365 shares issued and outstanding as of July 31, 2021; 462,730,684 shares issued and outstanding as of July 31, 2020	478,825	462,731
Stock Subscription Receivable	0	(20,000)
Additional paid-in capital	12,571,207	8,597,401
Accumulated deficit	(16,129,612)	(11,906,952)
Accumulated other comprehensive loss	(100)	(100)
TOTAL STOCKHOLDERS' DEFICIT	(3,069,680)	(2,856,920)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 156,498	$ 184,870