WBBAD WB Burgers Asia Inc (PK)

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

FOR THE QUARTERLY PERIOD ENDED April 30, 2024

OR

 

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from to

COMMISSION FILE NUMBER: 000-56233

  

WB Burgers Asia, Inc.

(Exact name of registrant as specified in its charter)

 

	Nevada	00-0000000
	(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
	3F K’s Minamiaoyama 6-6-20 Minamiaoyama, Minato-ku, Tokyo 107-0062, Japan	107-0062
	(Address of Principal Executive Offices)	(Zip Code)

81-90-6002-4978

(registrant’s telephone number, including area code)

 

N/A

(former name or former mailing address, if changed since last report)

 

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. [X] Yes [ ] No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). [X] Yes [ ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer  ☐		Accelerated filer  ☐		Non-accelerated filer  ☒
Smaller reporting company  ☒		Emerging growth company  ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

 [  ] Yes [X] No

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

As of June 18, 2024, there were 20,726,542 shares of the Registrant’s Common Stock and 0 shares of the Registrant’s Preferred Stock issued and outstanding.

 

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INDEX

 

			Page
PART I - FINANCIAL INFORMATION
ITEM 1	FINANCIAL STATEMENTS - UNAUDITED		F1
CONSOLIDATED Balance Sheet - UNAUDITED			F1
CONSOLIDATED Statement of Operations- UNAUDITED			F2
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) - UNAUDITED			F3
CONSOLIDATED Statement of Cash Flows - unaudited			F4
Notes to CONSOLIDATED Financial Statements - unaudited			F5
ITEM 2	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS		3
ITEM 3	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK		3
ITEM 4	CONTROLS AND PROCEDURES		4
PART II - OTHER INFORMATION
ITEM 1	LEGAL PROCEEDINGS		5
ITEM 1A	RISK FACTORS
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS		5
ITEM 3	DEFAULTS UPON SENIOR SECURITIES		5
ITEM 4	MINE SAFETY DISCLOSURES		5
ITEM 5	OTHER INFORMATION		5
ITEM 6	EXHIBITS		5
SIGNATURES			6

 

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Table of Contents

PART I - FINANCIAL INFORMATION

 

WB Burgers Asia, Inc.

Consolidated Balance Sheet

 

		April 30, 2024 (Unaudited)			July 31, 2023
ASSETS
Current Assets
Cash and cash equivalents	$	14,419		$	161,213
Accounts receivable		18,482			62,063
Inventories		10,759			4,950
Advance payments		19,913			-
Prepaid expenses		28,858			28,928
Total Current Assets		92,431			257,154
Equipment, software and leasehold improvement, net depreciation		414,981			602,543
Right of use asset		434,899			146,373
Deposits		227,451			253,153
TOTAL ASSETS	$	1,169,762		$	1,259,223
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable		276,109			252,917
Accounts payable - related party		637			-
Income tax payable		-			1,348
Lease liability, short term		262,793			156,362
Accrued expenses and other payables		2,186			2,429
Total Current Liabilities		541,725			413,056
Noncurrent Liabilities
Lease liability, long term		172,106			-
TOTAL LIABILITIES		713,831			413,056
Stockholders’ Equity (Deficit)
Preferred stock ($0.0001 par value, 200,000,000 shares authorized; 0 and 1,000,000 issued and outstanding as of April 30, 2024 and July 31, 2023, respectively)		-			100
Common stock ($0.0001 par value, 5,000,000,000 shares authorized, 20,726,542 and 10,707,187 shares issued and outstanding as of April 30, 2024 and July 31, 2023, respectively)		2,073			1,071
Subscription payable		-			10,000
Additional paid-in capital		7,450,813			7,130,710
Accumulated deficit		(6,294,599)			(5,687,400)
Accumulated other comprehensive income		(702,356)			(608,314)
Total Stockholders’ Equity		455,931			846,167
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)		1,169,762			1,259,223

 

The accompanying notes are an integral part of these consolidated unaudited financial statements.

 

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 Table of Contents

 

WB Burgers Asia, Inc.

Consolidated Statement of Operations

(Unaudited)

 

		Three Months Ended April 30, 2024		Three Months Ended April 30, 2023		Nine Months Ended April 30, 2024		Nine Months Ended April 30, 2023
Revenues	$	177,905	$	168,090	$	467,746	$	435,313
Cost of revenue		390,575		289,413		946,218		874,204
Gross profit (loss)	$	(212,670)	$	(121,323)	$	(478,472)	$	(438,891)
Operating expenses
General and administrative expenses	$	89,929	$	185,004	$	334,998	$	1,605,242
Total operating expenses		89,929		185,004		334,998		1,605,242
Net operating loss	$	(302,599)	$	(306,927)	$	(813,470)	$	(2,044,133)
Other Income (Loss)
Gain on foreign currency exchange		(258,872)		(5,600)		(251,422)		(3,054)
Interest credit (expense)		(53)		-		-		-
Other income (expense)		430,085		2,465		457,693		153,967
Total other income (loss)		171,161		(3,135)		206,272		150,913
Income (loss) before income taxes provision	$	(131,439)	$	(310,062)	$	(607,199)	$	(1,893,220)
Provision for income taxes		-		(60)		-		-
Net loss		(131,439)		(310,002)		(607,199)		(1,893,220)
Other comprehensive income
Currency translation adjustment		(48,992)		(78,625)		(94,042)		36,125
Comprehensive Income (Loss)	$	(180,431)	$	(388,627)	$	(701,241)	$	(1,857,095)
Basic and Diluted net loss per common share	$	(0.01)	$	(0.03)	$	(0.03)	$	(0.18)
Weighted average number of common shares outstanding - Basic and Diluted		20,726,424		10,698,168		20,067,011		10,587,111

 

The accompanying notes are an integral part of these consolidated unaudited financial statements.

 

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WB Burgers Asia, Inc.

Consolidated Statement of Changes in Stockholders’ Equity (Deficit)

For the Period ended April 30, 2024

(Unaudited) 

 

		Common Shares		Par Value Common Shares	Series A Preferred Shares		Par Value Series A Preferred Shares		Shares Payable		Additional Paid-in Capital		Accumulated Other Comprehensive Income		Accumulated Deficit		Total
Balances, July 31, 2023		10,707,187	$	1,071	1,000,000	$	100	$	10,000	$	7,130,710	$	(608,314)	$	(5,687,400)	$	846,167
Common shares sold		19,238		2	-		-		(10,000)		44,245		-		-		34,247
Preferred shares converted to common shares		10,000,000		1,000	(1,000,000)		(100)		-		275,858		-		-		276,758
Net loss		-		-	-		-		-		-		-		(455,769)		(455,769)
Foreign currency translation		-		-	-		-		-		-		(56,922)		-		(56,922)
Balances, October 31, 2023		20,726,424	$	2,073	-	$	-	$	-	$	7,450,813	$	(665,236)	$	(6,143,169)	$	644,481
Net loss		-		-	-		-		-		-		-		(19,991)		(19,991)
Foreign currency translation		-		-	-		-		-		-		11,872		-		11,872
Balances, January 31, 2024		20,726,424	$	2,073	-	$	-	$	-	$	7,450,813	$	(653,364)	$	(6,163,160)	$	636,362
Reverse stock split rounding		118		-	-		-		-		-		-		-		-
Net loss		-		-	-		-		-		-		-		(131,439)		(131,439)
Foreign currency translation		-		-	-		-		-		-		(48,992)		-		(48,992)
Balances, April 30, 2024		20,726,542	$	2,073	-	$	-	$	-	$	7,450,813	$	(702,356)	$	(6,294,599)	$	455,931

 

WB Burgers Asia, Inc.

Consolidated Statement of Changes in Stockholders’ Equity (Deficit)

For the Period ended April 30, 2023

(Unaudited) 

 

		Common Shares		Par Value Common Shares	Series A Preferred Shares		Par Value Series A Preferred Shares		Shares Payable		Additional Paid-in Capital		Accumulated Other Comprehensive Income		Accumulated Deficit		Total
Balances, July 31, 2022		10,140,226	$	1,014	1,000,000	$	100	$	130,392	$	5,372,762	$	(463,185)	$	(1,765,735)	$	3,275,348
Common shares sold		433,182		43	-		-		(130,392)		1,386,138		-		-		1,255,789
Net loss		-		-	-		-		-		-		-		(1,263,246)		(1,263,246)
Foreign currency translation		-		-	-		-		-		-		(297,655)				(297,655)
Balances, October 31, 2022		10,573,408	$	1,057	1,000,000	$	100	$	-	$	6,758,900	$	(760,840)	$	(3,028,981)	$	2,970,236
Cash received for shares not yet issued		-		-	-		-		307,692		-		-		-		307,692
Net loss		-		-	-		-		-		-		-		(319,972)		(319,972)
Foreign currency translation		-		-	-		-		-		-		412,405		-		412,105
Balances, January 31, 2023		10,573,408	$	1,057	1,000,000	$	100	$	307,692	$	6,758,900	$	(348,435)	$	(3,348,953)	$	3,370,361
Common shares sold		133,779		14	-		-		(307,692)		307,678		-		-		-
Net loss		-		-	-		-		-		-		-		(310,002)		(310,002)
Foreign currency translation		-		-	-		-		-		-		(78,625)		-		(78,625)
Balances, April 30, 2023		10,707,187	$	1,071	1,000,000	$	100	$	-	$	7,066,578	$	(427,060)	$	(3,658,955)	$	2,981,734

 

The accompanying notes are an integral part of these consolidated unaudited financial statements.

  

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WB Burgers Asia, Inc.

Statement of Cash Flows

(Unaudited)

 

			Nine Months Ended April 30, 2024			Nine Months Ended April 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$	(607,199)		$	(1,893,220)
Adjustment to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation			133,644			142,557
Amortization			-			80,326
Loss on exchange of shares			276,758			-
Changes in current assets and liabilities:
Accounts receivable			19,027			(7,646)
Inventories			(6,674)			(1,688)
Other assets			(320,808)			222,492
Accounts payable			50,874			108,921
Deposits and prepaid expenses			(3,032)			(1,230)
Accrued expenses and other payables			311,317			(241,941)
Net cash provided by (used in) operating activities			(146,093)			(1,591,429)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets			-			(12,241)
Net cash used in investing activities			-			(12,241)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash received from the sale of stock			34,247			1,563,481
Net cash provided by financing activities			34,247			1,563,481
Net effect of exchange rate changes on cash		$	(34,948)		$	29,332
Net increase (decrease) in cash and cash equivalents		$	(146,794)		$	(10,857)
Beginning cash and cash equivalents balance			161,213			126,669
Ending cash and cash equivalents balance		$	14,419		$	115,812
Cash paid for:
Interest		$	-		$	16,052
Income taxes		$	1,348		$	60
Non-cash Transactions
Preferred shares exchanged for Common stock		$	1,000		$	-

 

The accompanying notes are an integral part of these consolidated unaudited financial statements.

  

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WB Burgers Asia, Inc.

Notes to Consolidated Unaudited Financial Statements

 

Note 1 - Organization and Description of Business

 

The Company was incorporated in the state of Nevada on August 30, 2019, under its original name of Business Solutions Plus, Inc.

 

On September 14, 2021, we acquired 100% of the equity interest of WB Burgers Japan Co., Ltd., a Japan Company. Following the acquisition, we ceased to be a shell company and adopted the same business plan as that of our now wholly owned subsidiary, WB Burgers Japan Co., Ltd (“WBBJ”), which we now operate through and share the same business plan of. On February 9, 2022, we incorporated Store Foods Co., Ltd. (“Store Foods”), a Japan Company. Store Foods is now a wholly owned subsidiary of the Company and currently Koichi Ishizuka is the sole Officer and Director. As a result, we now have two wholly owned subsidiaries, WB Burgers Japan Co., Ltd, and Store Foods Co., Ltd., both of which are Japan Companies.

 

While our plans for Store Foods are presently on hold, the intended business purpose of the Company is as follows:

 

1. Food sales;

2. Food wholesale and retail;

3. Chain organizations consisting of food retailers as members;

4. Restaurants;

5. Manufacturing and sales of boxed lunches for catering;

6. Alcohol sales;

7. Health supplement and health drink sales;

8. Manufacturing and sales of functional foods;

9. Lease of goods related to restaurant management;

10. System development;

11. Delivery;

12. Application development and sales;

13. Advertising;

14. Management consulting;

15. All businesses incidental to any of the above.

  

The Company’s main office is located at 3F K’s Minamiaoyama  6-6-20 Minamiaoyama, Minato-ku, Tokyo

107-0062, Japan.

 

The Company has elected July 31st as its year end.

 

Note 2 - Summary of Significant Accounting Policies  

 

Basis of Presentation

 

This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements.

 

The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the unaudited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosures contained in the unaudited financial statements for the most recent fiscal period, as reported in the 2023 Annual Report, have been omitted.

 

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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents at April 30, 2024 and July 31, 2023 were $14,419 and $161,213, respectively.

 

Revenue Recognition

 

The Company adopted ASC 606, Revenue from Contracts with Customers (Topic 606) (“ASC 606”), in the second quarter of fiscal year 2020, as this was the first quarter that the Company generated revenues. Under ASC 606, the Company recognizes revenue when a customer obtains control of promised goods, in an amount that reflects the consideration that the Company expects to receive in exchange for the goods. To determine revenue recognition for arrangements within the scope of ASC 606, the Company performs the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when or as the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to the customer. Under ASC 606, disaggregated revenue from contracts with customers depicts the nature, amount, timing, and uncertainty of revenue and cash flows affected by economic factors.

 

Foreign currency translation 

 

The Company maintains its books and records in its local currency, Japanese YEN (“JPY”), which is a functional currency as being the primary currency of the economic environment in which its operation is conducted. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.

 

The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In accordance with ASC Topic 830-30, “Translation of Financial Statement”, assets and liabilities of the Company whose functional currency is not US$ are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity.

 

Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates:

 

		April 30,
		2024			2023
Current JPY:US$1 exchange rate			156.90		134.13
Average JPY:US$1 exchange rate			148.38		137.04

 

Comprehensive income or loss

 

ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive income or loss, its components and accumulated balances. Comprehensive income or loss as defined includes all changes in equity during a period from non-owner sources. Accumulated comprehensive income, as presented in the accompanying consolidated statements of shareholders’ equity consists of changes in unrealized gains and losses on foreign currency translation.

 

Accounts Receivable and Allowance for Doubtful Accounts

 

Accounts receivable are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred.

 

Inventory 

 

Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out (“FIFO”) method, and are valued at the lower of cost or market value. This valuation requires the Company to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category.

 

Fixed assets and depreciation

 

Property, plant and equipment are stated at cost less depreciation and impairment loss. The initial cost of the assets comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the respective assets.

 

ROU lease assets and liabilities

 

The Company capitalizes all leased assets pursuant to ASU 2016-02, “Leases (Topic 842),” which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. The Company excludes short-term leases having initial terms of 12 months or less from Topic 842 as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company adopted the standard in the third quarter of fiscal year 2022.

 

Income Taxes

 

The Company accounts for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets or liabilities were recognized at April 30, 2024 and July 31, 2023.

 

Basic Earnings (Loss) Per Share

 

The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share. Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company.

 

The Company does not have any potentially dilutive instruments as of April 30, 2024 and, thus, anti-dilution issues are not applicable.

 

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Fair Value of Financial Instruments

 

The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.

 

ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

 

- Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

- Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

- Level 3 - Inputs that are both significant to the fair value measurement and unobservable.  

 

Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of April 30, 2024 and July 31, 2023. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses. 

 

Related Parties

 

The Company follows ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.

 

On August 18, 2023, our majority shareholder, White Knight Co., Ltd., a Japanese Company, owned and controlled by our sole Officer and Director, Koichi Ishizuka, elected to convert its 1,000,000 shares of Series A Preferred Stock of WB Burgers Asia, Inc. into shares of Common Stock. This conversion has been approved by the Company, and the conversion became effective on August 18, 2023. Every 1 share of Series A Preferred Stock was converted into 1,000 shares of Common Stock, for a total of 10,000,000 shares of Common Stock. An evaluation was made regarding this exchange and it was determined that the Company should post an expense of $276,758 related to the shares valuation.

 

Share-Based Compensation

 

ASC 718, “Compensation – Stock Compensation”, prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period).

 

The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “Equity – Based Payments to Non-Employees.”  Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable:  (a) the goods or services received; or (b) the equity instruments issued.  The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date.  

 

The Company had no stock-based compensation plans as of April 30, 2024.

The Company’s stock-based compensation for the periods ended April 30, 2024 and January 31, 2023 were $0 for both periods.

 

Recently Issued Accounting Pronouncements

 

The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.

 

Note 3 - Going Concern

 

The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business.

 

The Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these financial statements. These adverse conditions are negative financial trends, specifically operating loss, working capital deficiency, and other adverse key financial ratios.

 

The Company has not established any source of revenue to cover its operating costs. Management plans to fund operating expenses with related party contributions to capital and the sale of shares of stock. There is no assurance that management's plan will be successful. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

 

Note 4 - Income Taxes

 

Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences between the recorded book basis and the tax basis of assets and liabilities for financial and income tax reporting. Deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses that are available to offset future taxable income and tax credits that are available to offset future federal income taxes. The Company believes that its income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material adverse effect on the Company’s financial condition, results of operations, or cash flow. Therefore, no reserves for uncertain income tax positions have been recorded pursuant to ASC 740.

 

The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.

 

As of April 30, 2024, the Company has incurred a net loss of approximately $6,241,592 which resulted in a net operating loss for income tax purposes. The loss results in a deferred tax asset of approximately $1,311,261 at the effective statutory rate of 21%. The deferred tax asset has been offset by an equal valuation allowance. Given our inception on August 30, 2019, and our fiscal year end of July 31, 2023, we have completed four taxable fiscal years as of April 30, 2024.

 

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Note 5 - Commitments and Contingencies

 

The Company follows ASC 450-20, Loss Contingencies, to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. There were no commitments or contingencies as of April 30, 2024 and July 31, 2023.

 

Note 6 - Fixed Assets  

 

Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives. When retired or otherwise disposed, the carrying value and accumulated depreciation of the fixed asset is removed from its respective accounts and the net difference less any amount realized from disposition is reflected in earnings. Expenditures for maintenance and repairs which do not extend the useful lives of the related assets are expensed as incurred.

 

As of April 30, 2024 and July 31, 2023 fixed assets were made up of the following:

 

		Estimated
		Useful
		Life				April 30,				July 31,
		(approx.. years)				2024				2023
Furniture fixtures and equipment			5			$	41,531			$	46,224
Furniture fixtures and equipment			6				13,880				15,448
Furniture fixtures and equipment			8				153,405				170,740
Software			5				7,946				10,652
Leasehold improvement			Remaining Lease Term				545,782				607,457
Accumulated depreciation							(347,562	)			(247,978)
Net book value						$	414,981			$	602,543

 

Total depreciation expense for the periods ended April 30, 2024 and 2023, was $133,644 and $142,557, respectively, all of which was recorded in our general and administrative expenses on our statement of operations.

 

Note 7 - Right of Use Asset

 

The Company capitalizes all leased assets pursuant to ASU 2016-02, “Leases (Topic 842),” which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. The Company excludes short-term leases having initial terms of 12 months or less from Topic 842 as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company adopted the standard in the third quarter of fiscal year 2022.

 

Our adoption of ASU 2016-02, Leases (Topic 842), and subsequent ASUs related to Topic 842, requires us to recognize substantially all leases on the balance sheet as an ROU asset and a corresponding lease liability. The new guidance also requires additional disclosures as detailed below.

 

We determine if a contract is a lease at the inception of the arrangement. We review all options to extend, terminate, or purchase the ROU assets, and when reasonably certain to exercise, we include the option in the determination of the lease term and lease liability.

 

Lease ROU assets and liabilities are recognized at commencement date of the lease, based on the present value of lease payments over the lease term. The lease ROU asset also includes any lease payments made and excludes any lease incentives. When readily determinable, we use the implicit rate in determining the present value of lease payments. When leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date, including the lease term.

 

The tables below present financial information associated with our leases. As noted above, we adopted Topic 842 using a transition method that does not require application to periods prior to adoption. The initial recognition of the ROU operating lease was $650,820 for both the ROU asset and ROU liability. As of April 30, 2024, the ROU lease liability was $434,899.

 

	Balance Sheet Classification		April 30, 2024		July 31, 2023
Right-of-use assets	Lease asset long	$	434,899	$	146,373
Current lease liabilities	Short-term lease liability		262,793		156,362
Non-current lease liabilities	Lease liability long term		172,106		-
Maturities of lease liabilities as of April 30, 2024 are as follows:
2024	262,793
2025	172,106
2026 and beyond	-
Total	-
Add(Less): Imputed interest	-
Present value of lease liabilities	434,899

 

Note 8 - Deposits

 

During the period ended July 31, 2022, the Company paid two security deposits for the leased office and restaurant space totaling approximately $227,451 at the April 30, 2024 exchange rate.

 

Note 9 - Accrued Expenses and Other Payables   

 

Accrued expenses and other payables totaled $2,186 and $2,429 at April 30, 2024 and July 31, 2023, respectively, and consisted primarily of withholding taxes.

 

Note 10 - Shareholder Equity   

 

Preferred Stock

 

The authorized preferred stock of the Company consists of 200,000,000 shares with a par value of $0.0001. There were 0 and 1,000,000 Series A preferred shares issued and outstanding as of April 30, 2024 and July 31, 2023, respectively. Our Certificate of Incorporation authorizes the issuance of up to 200,000,000 shares of Preferred Stock with designations, rights and preferences to be determined from time to time by our Board of Directors. Accordingly, our Board of Directors is empowered, without stockholder approval, to issue Preferred Stock with dividend, liquidation, conversion, voting, or other rights which could adversely affect the voting power or other rights of the holders of the Common Stock. In the event of issuance, the Preferred Stock could be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of the Company. Although we have no present intention to issue any shares of our authorized Preferred Stock, there can be no assurance that we will not do so in the future.

 

Of the 200,000,000 shares of preferred stock, 1,000,000 shares are designated as Series A Preferred Stock, $0.0001 par value each. Series A Preferred stock pay no dividends and each share of Series A Preferred Stock shall have voting rights equal to one thousand (1,000) votes of Common Stock. With respect to all matters upon which stockholders are entitled to vote or to which stockholders are entitled to give consent, the holders of the outstanding shares of Series A Preferred Stock shall vote together with the holders of Common Stock without regard to class, except as to those matters on which separate class voting is required by applicable law or the Corporation's Certificate of Incorporation or by-laws.

 

On August 17, 2023, our majority shareholder, White Knight Co., Ltd., and Koichi Ishizuka, our sole Officer and Director, executed a resolution to ratify, affirm, and approve to file an Amended and Restated Certificate of Incorporation. The Amended and Restated Certificate of Incorporation was filed with the Nevada Secretary of State on August 17, 2023, effective immediately. The Amended and Restated Certificated of Incorporation revised the rights of Series A Preferred Stock, now allowing each one (1) share of Series A Preferred Stock to be converted into one thousand (1,000) shares of Common Stock at the discretion of the holder(s) of Series A Preferred Stock. It also resulted in an increase to the authorized shares of our Common Stock from One Billion Five Hundred Million (1,500,000,000) to Five Billion (5,000,000,000).

 

On August 18, 2023, our majority shareholder, White Knight Co., Ltd., a Japanese Company, owned and controlled by our sole Officer and Director, Koichi Ishizuka, elected to convert its 1,000,000 shares of Series A Preferred Stock of WB Burgers Asia, Inc. into shares of Common Stock. This conversion has been approved by the Company, and the conversion became effective on August 18, 2023. Every 1 share of Series A Preferred Stock was converted into 1,000 shares of Common Stock, for a total of 10,000,000    shares of Common Stock. An evaluation was made regarding this exchange and it was determined that the Company should post an expense of $276,758 related to the shares valuation.

 

Common Stock    

 

The authorized common stock of the Company consists of 5,000,000,000 shares with a par value of $0.0001. There were 20,726,542 and 10,707,187 shares of common stock issued and outstanding as of April 30, 2024 and July 31, 2023, respectively.

 

On August 17, 2023, our majority shareholder, White Knight Co., Ltd., and Koichi Ishizuka, our sole Officer and Director, executed a resolution to ratify, affirm, and approve to file an Amended and Restated Certificate of Incorporation. The Amended and Restated Certificate of Incorporation was filed with the Nevada Secretary of State on August 17, 2023, effective immediately. The Amended and Restated Certificated of Incorporation resulted in an increase to the authorized shares of our Common Stock from One Billion Five Hundred Million (1,500,000,000) to Five Billion (5,000,000,000). It also revised the rights of Series A Preferred Stock, now allowing each one (1) share of Series A Preferred Stock to be converted into one thousand (1,000) shares of Common Stock at the discretion of the holder(s) of Series A Preferred Stock.  

 

On August 18, 2023, our majority shareholder, White Knight Co., Ltd., a Japanese Company, owned and controlled by our sole Officer and Director, Koichi Ishizuka, elected to convert its 1,000,000 shares of Series A Preferred Stock of WB Burgers Asia, Inc. into shares of Common Stock. This conversion has been approved by the Company, and the conversion became effective on August 18, 2023. Every 1 share of Series A Preferred Stock was converted into 1,000 shares of Common Stock, for a total of 1,000,000,000 shares of Common Stock. An evaluation was made regarding this exchange and it was determined that the Company should post an expense of $276,758 related to the shares valuation.

 

On August 9, 2023, the Company sold 434,783 shares of restricted Common Stock to Takahiro Fujiwara, a Japanese Citizen, at a price of $0.023 per share of Common Stock. The total subscription amount paid by Takahiro Fujiwara was approximately $10,000, which was received by the Company prior to July 31, 2023 and was recorded as shares payable at that time (see Shares payable). Takahiro Fujiwara is not a related party to the Company.

 

On or about September 12, 2023, we sold 1,488,982 shares of restricted common stock to Shokafulin LLP, a Japanese Company, which is controlled by Takuya Watanabe, a Japanese citizen, at a price of approximately $0.023 per share of common stock.

 

The total subscription amount paid by Shokafulin LLP was approximately $34,247. Shokafulin LLP and Mr. Watanabe are not related parties to the Company.

 

On November 3, 2023, the Board of Directors, consisting solely of Koichi Ishizuka, along with White Knight Co., Ltd., and Koichi Ishizuka, “the Consenting Stockholders”, approved the following:

 

To conduct a 100 to 1 Reverse Stock Split, affecting only the outstanding Common Shares of the Company. Accordingly, the Company will file a Certificate of Change with the Nevada Secretary of State on December 6, 2023.

 

On April 2, 2024 this 100-1 reverse stock split was completed. Due to rounding, the resulting shares outstanding after the reverse stock split totaled 20,726,542.

 

Shares payable

 

During the period ended July 31, 2023, the Company received funds totaling approximately $10,000 to be used to finalize the sale of common shares which took place August 9, 2023 (see Common shares).

 

Note 11 - Related-Party Transactions

 

Accounts payable

 

During the period ended April 30, 2024, White Knight, controlled by our CEO Koichi Ishizuka, paid expenses on behalf of our wholly owned subsidiary, Store Foods Co., Ltd., totaling $637. 

 

Partnership and Licensing agreement

 

During the periods ended April 30, 2024 and July 31, 2023, we operated a ghost kitchen, called Next Restaurant, in partnership with Next Meats Holdings, Inc. (Next Meats). Our CEO, Koichi Ishizuka, is the majority shareholder and CEO of Next Meats. The Company has a licensing agreement with Next Meats related to the Next Restaurant operations whereby the Company pays a 1% royalty fee to Next Meats based on revenue earned from selling Next Meats products. As of April 30, 2024, the royalty liability owed to Next Meats was approximately $134.

  

Note 12 - Subsequent Events

 

None.

 

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ITEM 2

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

Forward-Looking Statements

 

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.”

 

These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions.

 

Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

 

Company Overview

 

WB Burgers Asia, Inc., operates through its two wholly owned subsidiaries, WB Burgers Japan Co., Ltd and Store Foods, Ltd., which share the same business plan. WB Burgers Japan Co., Ltd. holds the rights to the “Master Franchise Agreement” with Jakes’ Franchising LLC, a Delaware Limited Liability Company, as it pertains to the establishment and operation of Wayback Burger Restaurants within the country of Japan. The Master Franchise Agreement provides WBBJ the right to establish and operate Wayback Burgers restaurants in the country of Japan, and also license affiliated and unaffiliated third parties (“Franchisees”) to establish and operate Wayback Burgers restaurants in the Country of Japan. It should be noted that the above operations are primarily conducted, at this time, through WB Burgers Japan Co., Ltd.

 

On March 11, 2022, we unveiled our inaugural flagship Wayback Burgers restaurant location in the Omotesando shopping plaza (Tokyo, Japan). Our menu items offered at this location feature an of quick bites, highlighted by classic hamburgers, crisp fries, creamy shakes, and various other options. Moreover, we also utilize this location as a ghost kitchen to support our affiliate, Next Meats Holdings, Inc., known for its alternative meat offerings. In a further expansion of our culinary horizons, we've introduced a mobile "kitchen car," or "food truck," serving Wayback Burgers' menu items. Currently, our food truck serves customers across Tokyo and Niseko, Japan, bringing our signature flavors to new audiences.

 

Liquidity and Capital Resources 

 

Our cash balance is $14,419 as of April 30, 2024 and $161,213 as of July 31, 2023. We have been utilizing available cash balances and funds from our Chief Executive Officer, Koichi Ishizuka, and may continue to do so in the future. The variance between periods is attributable primarily to a reduction in funds loaned or made available by White Knight Co., Ltd.

 

Mr. Ishizuka has no formal commitment, arrangement or legal obligation to advance or loan funds to the company. In order to implement our plan of operations for the next twelve-month period, we may require further funding. Being a start-up stage company, we have very limited operating history. After a twelve-month period we may need additional financing but currently do not have any arrangements for such financing, although the Company may seek to sell shares of its common stock in the future to fund its operations.

 

If we need additional cash and cannot raise it, we will either have to suspend operations until we do raise the cash we need, or scale back operations entirely.

 

Our total assets as of April 30, 2024 were $1,169,762 and $1,259,223 as of July 31, 2023. These were comprised primarily of equipment, right of use assets, and deposits for the quarter ended April 30, 2024, and were comprised primarily of equipment for the quarter ended July 31, 2023.

 

Liabilities

 

Our total liabilities were $713,831 as of April 30, 2024, and $413,056 as of July 31, 2023. For both periods, our total liabilities were primarily comprised of accounts payable and lease liabilities. As of April 30, 2024, the lease liabilities were comprised of both long- and short-term loans, whereas as of July 31, 2023, there were no long-term loans. Short term loans as of April 30, 2024 were $262,793 and long-term loans as of this date were $172,106. Short-term loans as of July 31, 2023 were $156,362. The variance is attributed primarily to the commencement of the company’s food truck business.

 

Revenues

 

The company generated $177,905 in revenue for the three months ended April 30, 2024, and our cost of revenue was $390,575, while our gross loss was $212,670. The company generated $168,090 in revenue for the three months ended April 30, 2023, and our cost of revenue was $289,413, while our gross loss was $121,323. We believe that, for both periods, our gross loss was attributable to a small number of customers visiting our Wayback Burgers restaurant locations during these quarters, as we had not, as of April 30, 2024, conducted sufficient marketing efforts to attract enough customers to become profitable.

 

The company generated $467,746 in revenue for the nine months ended April 30, 2024, and our cost of revenue was $946,218, while our gross loss was $478,472. The company generated $435,313 in revenue for the nine months ended April 30, 2023, and our cost of revenue was $874,204, while our gross loss was $438,891. We believe that, for both periods, our gross loss was attributable to a small number of customers visiting our Wayback Burgers restaurant locations during these quarters, as we had not, as of April 30, 2024, conducted sufficient marketing efforts to attract enough customers to become profitable.

 

The revenue generated is from our Wayback Burgers restaurant locations. We offer an array of quick bites, including, but not limited to, traditional hamburgers, fries, shakes, and other alternatives. During the period ended April 30, 2024, we hired an additional four full-time employees, which resulted in an overall increase in cost of revenue.

 

Operating Expenses

 

Our total operating expenses were $89,929 for the three months ended April 30, 2024, and $185,004 for the three months ended April 30, 2023. For both periods, our total operating expenses were solely comprised of general and administrative expenses.

 

Our total operating expenses were $334,998 for the nine months ended April 30, 2024, and $1,605,242 for the nine months ended April 30, 2023. For both periods, our total operating expenses were solely comprised of general and administrative expenses. The Company believes the variance is attributable to a reduction in administration support and consulting fees.

 

Net Income/Loss

 

We recorded a net loss of $131,439 and $310,002 for the three months ended April 30, 2024 and April 30, 2023, respectively. The variance between periods is primarily attributable to a difference in general and administrative expenses between periods.

 

We recorded a net loss of $607,199 and $1,893,220 for the nine months ended April 30, 2024 and April 30, 2023, respectively. The variance between periods is primarily attributable to a difference in general and administrative expenses between periods.

 

We believe we will need additional revenue to cover our expenses going forward. The variance in net loss is primarily attributable to a variance between general and administrative expenses between periods.

 

Cash flows

 

For the nine months ended April 30, 2024, we had negative cash flows from operating activities in the amount of $146,093. For the nine months ended April 30, 2023, we had negative cash flows from operating activities in the amount of $1,591,429. The variance between periods is the result of a significantly larger net loss during the nine months ended April 30, 2023.

 

For the nine months ended April 30, 2024, we did not have any cash flows from investing activities. For the nine months ended April 30, 2023, we had negative cash flows from investing activities in the amount of $12,241. The variance between periods is the result of the purchase of fixed assets during the nine months ended April 30, 2023.

 

For the nine months ended April 30, 2024, we had positive cash flows from financing activities in the amount of $34,247 and for the nine months ended April 30, 2023, we had positive cash flows from financing activities in the amount of $1,563,481. The variance between periods is the result of greater cash received from the sale of stock for the nine months ended April 30, 2023.

 

Partnership and Licensing agreement

 

During the periods ended April 30, 2024 and July 31, 2023, we operated a ghost kitchen, called Next Restaurant, in partnership with Next Meats Holdings, Inc. (Next Meats). Our CEO, Koichi Ishizuka, is the majority shareholder and CEO of Next Meats. The Company has a licensing agreement with Next Meats related to the Next Restaurant operations whereby the Company pays a 1% royalty fee to Next Meats based on revenue earned from selling Next Meats products. As of April 30, 2024, the royalty liability owed to Next Meats was approximately $43.

 

Going Concern

 

The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business.

 

The Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these financial statements. These adverse conditions are negative financial trends, specifically operating loss, working capital deficiency, and other adverse key financial ratios.

 

The Company has not established any source of revenue to cover its operating costs. Management plans to fund operating expenses with related party contributions to capital and the sale of shares of stock. There is no assurance that management's plan will be successful. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern. 

 

Change in Registered Public Accounting Firm

 

On May 20, 2022, WB Burgers Asia Inc. (the “Company”) dismissed its independent registered public accounting firm, BF Borgers CPA PC (“BFG”) effective immediately. This decision was approved by the Company’s Board of Directors, comprised solely of Koichi Ishizuka. The report of BFG on the Company’s financial statements for fiscal years ended July 31, 2021 and 2020 included in the Company’s annual report on Form 10-K for the year ended July 31, 2021, did not contain an adverse opinion or a disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principle.

 

On May 20, 2022, the Company engaged M&K CPAS, PLLC (“M&K”) as its new independent registered public accountant for the fiscal year ending July 31, 2022 and for the financial periods going forward. This decision was approved by the Company’s Board of Directors, comprised solely of Koichi Ishizuka.

 

ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

As a smaller reporting company, as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information called for by this Item.

 

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ITEM 4

CONTROLS AND PROCEDURES

 

Management’s Report on Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our chief executive officer and our chief financial officer (who is acting as our principal executive officer, principal financial officer and principle accounting officer) to allow for timely decisions regarding required disclosure.

 

As of April 30, 2024, we carried out an evaluation, under the supervision of our chief executive officer, Koichi Ishizuka, who also serves as our chief financial officer, of the effectiveness of the design and the operation of our disclosure controls and procedures. Our officer, Koichi Ishizuka, concluded that the disclosure controls and procedures were not effective as of the end of the period covered by this report due to material weaknesses identified below. 

 

The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: domination of management by a single individual without adequate compensating controls, lack of a majority of outside directors on board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; inadequate segregation of duties consistent with control objectives, and lack of an audit committee. These material weaknesses were identified by our Chief Executive Officer who also serves as our Chief Financial Officer in connection with the above evaluation.

 

Inherent limitations on effectiveness of controls

 

Internal control over financial reporting has inherent limitations which include but is not limited to the use of independent professionals for advice and guidance, interpretation of existing and/or changing rules and principles, segregation of management duties, scale of organization, and personnel factors. Internal control over financial reporting is a process which involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management override. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements on a timely basis, however these inherent limitations are known features of the financial reporting process and it is possible to design into the process safeguards to reduce, though not eliminate, this risk. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

 

Changes in Internal Control over Financial Reporting

 

There have been no changes in our internal controls over financial reporting that have occurred for the fiscal quarter ended April 30, 2024, that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

 

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PART II-OTHER INFORMATION

 

ITEM 1

LEGAL PROCEEDINGS

 

There are no legal proceedings against the Company and the Company is unaware of such proceedings contemplated against it.

 

ITEM 1A

RISK FACTORS

 

As a smaller reporting company, as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information called for by this Item.

 

ITEM 2

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

On or about July 1, 2021, we sold 9,090,909 shares of restricted common stock to SJ Capital Co., Ltd., a Japanese Company, at a price of $0.20 per share of common stock. The total subscription amount paid by SJ Capital Co., Ltd. was approximately $1,818,181.80 or approximately 200,000,000 Japanese Yen.

 

SJ Capital Co., Ltd., is owned and controlled by Senju Pharmaceutical Co., Ltd., a Japanese Company.

 

Mr. Takeshi Sugisawa, the President of SJ Capital Co., Ltd., authorized the above transaction on behalf of SJ Capital Co., Ltd. Both SJ Capital Co., Ltd., and Senju Pharmaceutical Co., Ltd. are considered non-related parties to the Company.

 

The proceeds from the above sale of shares are to be used by the Company for working capital.

 

On August 24, 2021, we sold 1,363,636 shares of restricted common stock to Yasuhiko Miyazaki, a Japanese Citizen, at a price of $0.20 per share of common stock. The total subscription amount paid by Yasuhiko Miyazaki was approximately $272,727 or approximately 30,000,000 Japanese Yen. Mr. Yasuhiko Miyazaki is not a related party to the Company. The proceeds from the above sale of shares are to be used by the Company for working capital. 

 

On October 22, 2021, we sold 2,252,252 shares of restricted common stock to Shokafulin LLP, a Japan Company, which is controlled by Takuya Watanabe, a Japanese Citizen, at a price of $0.20 per share of common stock. The total subscription amount paid by Shokafulin LLP was approximately $450,450 or approximately 50,000,000 Japanese Yen. Shokafulin LLP and Mr. Watanabe are not related parties to the Company.

 

On December 27, 2021, we sold 1,315,789 shares of restricted Common Stock to Takahiro Fujiwara, Japanese Citizen, at a price of $0.20 per share of Common Stock. The total subscription amount paid by Takahiro Fujiwara was approximately $263,158. Takahiro Fujiwara is not a related party to the Company.

 

On August 8, 2022, we sold 1,586,538 shares of restricted Common Stock to Takahiro Fujiwara, a Japanese Citizen, at a price of $0.032 per share of Common Stock. The total subscription amount paid by Takahiro Fujiwara was approximately $50,769. Takahiro Fujiwara is not a related party to the Company.

 

On August 8, 2022, we sold 2,403,846 shares of restricted Common Stock to Shokafulin LLP, a Japanese Company, at a price of $0.032 per share of Common Stock. The total subscription amount paid by Shokafulin LLP was approximately $76,923. Shokafulin LLP is not a related party to the Company.

 

On August 12, 2022, we sold 32,065,458 shares of restricted Common Stock to Asset Acceleration Axis, LLC, a Japanese Company, at a price of $0.032 per share of Common Stock. The total subscription amount paid by Asset Acceleration Axis, LLC was approximately $1,026,094. Asset Acceleration Axis, LLC is not a related party to the Company.

 

On September 13, 2022, we sold 7,262,324 shares of restricted Common Stock to Asset Acceleration Axis, LLC, a Japanese Company, at a price of $0.032 per share of Common Stock. The total subscription amount paid by Asset Acceleration Axis, LLC was approximately $232,395. Asset Acceleration Axis, LLC is not a related party to the Company.

 

On February 6, 2023, we sold 10,033,445 shares of restricted Common Stock to Kazuya Iwasaki, a Japanese Citizen, at a price of $0.023 per share of Common Stock. The total subscription amount paid by Kazuya Iwasaki was approximately $230,769. Kazuya Iwasaki is not a related party to the Company.

 

On February 6, 2023, we sold 3,344,482 shares of restricted Common Stock to Shokafulin LLP, a Japanese Company, at a price of $0.023 per share of Common Stock. The total subscription amount paid by Shokafulin LLP was approximately $76,923. Shokafulin LLP is not a related party to the Company.

 

On August 9, 2023, the Company sold 434,783 shares of restricted Common Stock to Takahiro Fujiwara, a Japanese Citizen, at a price of $0.023 per share of Common Stock. The total subscription amount paid by Takahiro Fujiwara was approximately $10,000. Takahiro Fujiwara is not a related party to the Company.

 

On or about September 12, 2023, we sold 1,488,982 shares of restricted common stock to Shokafulin LLP, a Japanese Company, which is controlled by Takuya Watanabe, a Japanese citizen, at a price of approximately $0.023 per share of common stock. The total subscription amount paid by Shokafulin LLP was approximately $34,247. Shokafulin LLP and Mr. Watanabe are not related parties to the Company.

 

The proceeds from these sales went to the Company to be used as working capital.

 

In regards to all of the above transactions, the Company claims an exemption from registration afforded by Section Regulation S of the Securities Act of 1933, as amended ("Regulation S") for the above sales/issuances of the stock since the sales/issuances of the stock were made to non-U.S. persons (as defined under Rule 902 section (k)(2)(i) of Regulation S), pursuant to offshore transactions, and no directed selling efforts were made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of the foregoing. 

 

ITEM 3

DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4

MINE SAFETY DISCLOSURES

 

Not applicable.

 

ITEM 5

OTHER INFORMATION

 

None.

 

ITEM 6

EXHIBITS

 

(b) Exhibits required by Item 601 of Regulation S-K.

 

Exhibit No.		Description
3.1		Restated Articles of Incorporation (1)
3.1 (i)		Certificate of Amendment (2)
3.1 (ii)		Certificate of Amendment (3)
3.1 (iii)		Amended and Restated Certificate of Incorporation (4)
3.1 (iv)		Certificate of Change (5)
3.2		By-laws (6)
31		Certification of the Company’s Principal Executive and Prinipal Financial Officer pursuant to the Securities Exchange Act Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (7)
32		Certification of the Company’s Principal Executive and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (7)
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibits 101)

_________________

(1)	Filed as an exhibit to the Company's Form 8-K, as filed with the SEC on March 4, 2021, and incorporated herein by this reference.
(2)	Filed as an exhibit to the Company’s Form 8-K, as filed with the SEC on June 22, 2021, and incorporated herein by this reference.
(3)	Filed as an exhibit to the Company's Form 8-K, as filed with the SEC on July 8, 2021, and incorporated herein by this reference.
(4)	Filed as an exhibit to the Company's Form 8-K, as filed with the SEC on August 21, 2023, and incorporated herein by this reference.
(5)	Filed as an exhibit to the Company's Form 8-K, as filed with the SEC on December 7, 2023, and incorporated herein by this reference.
(6)	Filed as an exhibit to the Company's Form 10-12G, as filed with the SEC on December 28, 2020, and incorporated herein by this reference.
(7)	Filed herewith.

 

-5-

---

Table of Contents

 

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, there unto duly authorized.

 

WB Burgers Asia, Inc.

(Registrant)

 

By: /s/ Koichi Ishizuka

Name: Koichi Ishizuka

Chief Executive Officer

Dated: June 18, 2024 

 

By: /s/ Koichi Ishizuka

Name: Koichi Ishizuka

Chief Financial Officer

Dated: June 18, 2024 

 

 

-6-

---

 

 

EXHIBIT 31.1

 

WB Burgers Asia, INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

 

I, Koichi Ishizuka, certify that:

 

1.   I have reviewed this report on Form 10-Q of WB Burgers Asia, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The small business issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The small business owner’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting. 

 

Dated: June 18, 2024

 

By: /s/ Koichi Ishizuka

Koichi Ishizuka,

Chief Executive Officer

(Principal Executive Officer)

 

EXHIBIT 31.2

 

 

WB Burgers Asia, INC.

OFFICER'S CERTIFICATE PURSUANT TO SECTION 302

 

I, Koichi Ishizuka, certify that:

 

1.   I have reviewed this report on Form 10-Q of WB Burgers Asia, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The small business issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the small business issuer and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The small business owner’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small issuer's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting. 

 

Dated: June 18, 2024

 

By: /s/ Koichi Ishizuka

Koichi Ishizuka,

Chief Financial Officer

(Principal Financial Officer)

 

EXHIBIT 32.1

 

 

WB Burgers Asia, INC.

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

 

 

In connection with the Quarterly Report of WB Burgers Asia, Inc. (the Company) on Form 10-Q for the quarterly period ended April 30, 2024, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Koichi Ishizuka, Principal  Executive Officer of the Company, certify,  pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)  The Report fully complies with the  requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)  The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

A signed original of this written statement required by Section 906 has been provided to Koichi Ishizuka and will be retained by WB Burgers Asia, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

 

Dated: June 18, 2024

 

By: /s/ Koichi Ishizuka

Koichi Ishizuka,

Chief Executive Officer

(Principal Executive Officer)

 

 

 

EXHIBIT 32.2

 

 

WB Burgers Asia, INC.

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

 

 

In connection with the Quarterly Report of WB Burgers Asia, Inc. (the Company) on Form 10-Q for the quarterly period ended April 30, 2024, as filed with the Securities and Exchange Commission on the date hereof (the Report), I, Koichi Ishizuka, Principal Financial Officer of the Company, certify,  pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)  The Report fully complies with the  requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)  The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

A signed original of this written statement required by Section 906 has been provided to Koichi Ishizuka and will be retained by WB Burgers Asia, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

 

Dated: June 18, 2024

 

By: /s/ Koichi Ishizuka

Koichi Ishizuka,

Chief Financial Officer

(Principal Financial Officer)

 

v3.24.1.1.u2

Cover - shares	9 Months Ended
	Apr. 30, 2024	Jun. 18, 2024	Jan. 31, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Jan. 31, 2023	Oct. 31, 2022	Jul. 31, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--07-31
Entity File Number	000-56233
Entity Registrant Name	WB Burgers Asia, Inc.
Entity Central Index Key	0001787412
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	NV
Entity Address, Postal Zip Code	107-0062
Local Phone Number	81-90-6002-4978
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Common Stock, Shares, Issued	20,726,542	20,726,542	20,726,424	20,726,424	10,707,187	10,707,187	10,573,408	10,573,408	10,140,226

v3.24.1.1.u2

Consolidated Balance Sheet - USD ($)	Apr. 30, 2024	Jul. 31, 2023
Current Assets
Cash and cash equivalents	$ 14,419	$ 161,213
Accounts receivable	18,482	62,063
Inventories	10,759	4,950
Advance payments	19,913
Prepaid expenses	28,858	28,928
Total Current Assets	92,431	257,154
Equipment, software and leasehold improvement, net depreciation	414,981	602,543
Right of use asset	434,899	146,373
Deposits	227,451	253,153
TOTAL ASSETS	1,169,762	1,259,223
Current Liabilities
Accounts payable	276,109	252,917
Accounts payable - related party	637
Income tax payable		1,348
Lease liability, short term	262,793	156,362
Accrued expenses and other payables	2,186	2,429
Total Current Liabilities	541,725	413,056
Noncurrent Liabilities
Lease liability, long term	172,106
TOTAL LIABILITIES	713,831	413,056
Preferred stock ($0.0001 par value, 200,000,000 shares authorized; 0 and 1,000,000 issued and outstanding as of April 30, 2024 and July 31, 2023, respectively)		100
Common stock ($0.0001 par value, 5,000,000,000 shares authorized, 20,726,542 and 10,707,187 shares issued and outstanding as of April 30, 2024 and July 31, 2023, respectively)	2,073	1,071
Subscription payable		10,000
Additional paid-in capital	7,450,813	7,130,710
Accumulated deficit	(6,294,599)	(5,687,400)
Accumulated other comprehensive income	(702,356)	(608,314)
Total Stockholders’ Equity	455,931	846,167
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)	$ 1,169,762	$ 1,259,223

v3.24.1.1.u2

Consolidated Balance Sheet (Parenthetical)	Apr. 30, 2024 $ / shares shares
Statement of Financial Position [Abstract]
preferred par value | $ / shares	$ 0.0001
preferred shares authorized	200,000,000
preferred shares issued	0
common par value | $ / shares	$ 0.0001
common stock authorized	5,000,000,000
common stock issued	20,726,542

v3.24.1.1.u2

Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Income Statement [Abstract]
Revenues	$ 177,905	$ 168,090	$ 467,746	$ 435,313
Cost of revenue	390,575	289,413	946,218	874,204
Gross profit (loss)	(212,670)	(121,323)	(478,472)	(438,891)
Operating expenses
General and administrative expenses	89,929	185,004	334,998	1,605,242
Total operating expenses	89,929	185,004	334,998	1,605,242
Net operating loss	(302,599)	(306,927)	(813,470)	(2,044,133)
Other Income (Loss)
Gain on foreign currency exchange	(258,872)	(5,600)	(251,422)	(3,054)
Interest credit (expense)	(53)
Other income (expense)	430,085	2,465	457,693	153,967
Total other income (loss)	171,161	(3,135)	206,272	150,913
Income (loss) before income taxes provision	(131,439)	(310,062)	(607,199)	(1,893,220)
Provision for income taxes		(60)
Net loss	(131,439)	(310,002)	(607,199)	(1,893,220)
Currency translation adjustment	(48,992)	(78,625)	(94,042)	36,125
Comprehensive Income (Loss)	$ (180,431)	$ (388,627)	$ (701,241)	$ (1,857,095)
Basic and Diluted net loss per common share	$ (0.01)	$ (0.03)	$ (0.03)	$ (0.18)
Weighted average number of common shares outstanding - Basic and Diluted	20,726,424	10,698,168	20,067,011	10,587,111

v3.24.1.1.u2

Consolidated Statement of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Notes Payable, Other Payables [Member]	Additional Paid-in Capital [Member]	Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Common Shares Issued and Outstanding							10,140,226
Balance, value	$ 1,014	$ 100	$ 130,392	$ 5,372,762	$ (463,185)	$ (1,765,735)	$ 3,275,348
Beginning balance, value at Jul. 31, 2022	1,014	100	130,392	5,372,762	(463,185)	(1,765,735)	3,275,348
Common shares sold	43		(130,392)	1,386,138			1,255,789
Net loss						(1,263,246)	(1,263,246)
Foreign currency translation					(297,655)		(297,655)
Beginning balance, value at Jul. 31, 2022	1,014	100	130,392	5,372,762	(463,185)	(1,765,735)	3,275,348
Net loss							$ (1,893,220)
Common Shares Issued and Outstanding							10,573,408
Balance, value	1,057	100		6,758,900	(760,840)	(3,028,981)	$ 2,970,236
Beginning balance, value at Oct. 31, 2022	1,057	100		6,758,900	(760,840)	(3,028,981)	2,970,236
Net loss						(319,972)	(319,972)
Foreign currency translation					412,405		$ 412,105
Common Shares Issued and Outstanding							10,573,408
Balance, value	1,057	100	307,692	6,758,900	(348,435)	(3,348,953)	$ 3,370,361
Beginning balance, value at Jan. 31, 2023	1,057	100	307,692	6,758,900	(348,435)	(3,348,953)	3,370,361
Common shares sold	14		(307,692)	307,678
Net loss						(310,002)	(310,002)
Foreign currency translation					(78,625)		$ (78,625)
Common Shares Issued and Outstanding							10,707,187
Balance, value	1,071	100		7,066,578	(427,060)	(3,658,955)	$ 2,981,734
Common Shares Issued and Outstanding							10,707,187
Balance, value	1,071	100	10,000	7,130,710	(608,314)	(5,687,400)	$ 846,167
Beginning balance, value at Jul. 31, 2023	1,071	100	10,000	7,130,710	(608,314)	(5,687,400)	846,167
Common shares sold	2		(10,000)	44,245			34,247
Preferred shares converted to common shares	1,000	(100)		275,858			276,758
Net loss						(455,769)	(455,769)
Foreign currency translation					(56,922)		(56,922)
Beginning balance, value at Jul. 31, 2023	1,071	100	10,000	7,130,710	(608,314)	(5,687,400)	846,167
Net loss							$ (607,199)
Common Shares Issued and Outstanding							20,726,424
Balance, value	2,073			7,450,813	(665,236)	(6,143,169)	$ 644,481
Beginning balance, value at Oct. 31, 2023	2,073			7,450,813	(665,236)	(6,143,169)	644,481
Net loss						(19,991)	(19,991)
Foreign currency translation					11,872		$ 11,872
Common Shares Issued and Outstanding							20,726,424
Balance, value	2,073			7,450,813	(653,364)	(6,163,160)	$ 636,362
Beginning balance, value at Jan. 31, 2024	2,073			7,450,813	(653,364)	(6,163,160)	636,362
Net loss						(131,439)	(131,439)
Foreign currency translation					(48,992)		(48,992)
Reverse stock split rounding
Common Shares Issued and Outstanding							20,726,542
Balance, value	$ 2,073			$ 7,450,813	$ (702,356)	$ (6,294,599)	$ 455,931

v3.24.1.1.u2

Consolidated Statement of Changes in Stockholders' Equity (Deficit) (Unaudited) Continued - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Notes Payable, Other Payables [Member]	Additional Paid-in Capital [Member]	Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Common Shares Issued and Outstanding							10,140,226
Preferred Stock Issued and Outstanding							1,000,000
Balance, value	$ 1,014	$ 100	$ 130,392	$ 5,372,762	$ (463,185)	$ (1,765,735)	$ 3,275,348
Beginning balance, value at Jul. 31, 2022	1,014	100	130,392	5,372,762	(463,185)	(1,765,735)	3,275,348
Common shares sold	43		(130,392)	1,386,138			1,255,789
Net loss						(1,263,246)	(1,263,246)
Foreign currency translation					(297,655)		(297,655)
Beginning balance, value at Jul. 31, 2022	1,014	100	130,392	5,372,762	(463,185)	(1,765,735)	3,275,348
Net loss							$ (1,893,220)
Common Shares Issued and Outstanding							10,573,408
Preferred Stock Issued and Outstanding							1,000,000
Balance, value	1,057	100		6,758,900	(760,840)	(3,028,981)	$ 2,970,236
Beginning balance, value at Oct. 31, 2022	1,057	100		6,758,900	(760,840)	(3,028,981)	2,970,236
Net loss						(319,972)	(319,972)
Foreign currency translation					412,405		412,105
Cash received for shares not yet issued			307,692				$ 307,692
Common Shares Issued and Outstanding							10,573,408
Preferred Stock Issued and Outstanding							1,000,000
Balance, value	1,057	100	307,692	6,758,900	(348,435)	(3,348,953)	$ 3,370,361
Beginning balance, value at Jan. 31, 2023	1,057	100	307,692	6,758,900	(348,435)	(3,348,953)	3,370,361
Common shares sold	14		(307,692)	307,678
Net loss						(310,002)	(310,002)
Foreign currency translation					(78,625)		$ (78,625)
Common Shares Issued and Outstanding							10,707,187
Preferred Stock Issued and Outstanding							1,000,000
Balance, value	1,071	100		7,066,578	(427,060)	(3,658,955)	$ 2,981,734
Common Shares Issued and Outstanding							10,707,187
Preferred Stock Issued and Outstanding							1,000,000
Balance, value	1,071	100	10,000	7,130,710	(608,314)	(5,687,400)	$ 846,167
Beginning balance, value at Jul. 31, 2023	1,071	100	10,000	7,130,710	(608,314)	(5,687,400)	846,167
Common shares sold	2		(10,000)	44,245			34,247
Net loss						(455,769)	(455,769)
Foreign currency translation					(56,922)		(56,922)
Beginning balance, value at Jul. 31, 2023	1,071	100	10,000	7,130,710	(608,314)	(5,687,400)	846,167
Net loss							$ (607,199)
Common Shares Issued and Outstanding							20,726,424
Balance, value	2,073			7,450,813	(665,236)	(6,143,169)	$ 644,481
Beginning balance, value at Oct. 31, 2023	2,073			7,450,813	(665,236)	(6,143,169)	644,481
Net loss						(19,991)	(19,991)
Foreign currency translation					11,872		$ 11,872
Common Shares Issued and Outstanding							20,726,424
Balance, value	2,073			7,450,813	(653,364)	(6,163,160)	$ 636,362
Beginning balance, value at Jan. 31, 2024	2,073			7,450,813	(653,364)	(6,163,160)	636,362
Net loss						(131,439)	(131,439)
Foreign currency translation					(48,992)		$ (48,992)
Common Shares Issued and Outstanding							20,726,542
Preferred Stock Issued and Outstanding							0
Balance, value	$ 2,073			$ 7,450,813	$ (702,356)	$ (6,294,599)	$ 455,931

v3.24.1.1.u2

Statement of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (607,199)	$ (1,893,220)
Adjustment to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	133,644	142,557
Amortization		80,326
Loss on exchange of shares	276,758
Changes in current assets and liabilities:
Accounts receivable	19,027	(7,646)
Inventories	(6,674)	(1,688)
Other assets	(320,808)	222,492
Accounts payable	50,874	108,921
Deposits and prepaid expenses	(3,032)	(1,230)
Accrued expenses and other payables	311,317	(241,941)
Net cash provided by (used in) operating activities	(146,093)	(1,591,429)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets		(12,241)
Net cash used in investing activities		(12,241)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash received from the sale of stock	34,247	1,563,481
Net cash provided by financing activities	34,247	1,563,481
Net effect of exchange rate changes on cash	(34,948)	29,332
Net increase (decrease) in cash and cash equivalents	(146,794)	(10,857)
Beginning cash and cash equivalents balance	161,213	126,669
Ending cash and cash equivalents balance	14,419	115,812
Interest		16,052
Income taxes	1,348	60
Non-cash Transactions
Preferred shares exchanged for Common stock	$ 1,000

v3.24.1.1.u2

Note 1 - Organization and Description of Business	9 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1 - Organization and Description of Business	Note 1 - Organization and Description of Business   The Company was incorporated in the state of Nevada on August 30, 2019, under its original name of Business Solutions Plus, Inc.   On September 14, 2021, we acquired 100% of the equity interest of WB Burgers Japan Co., Ltd., a Japan Company. Following the acquisition, we ceased to be a shell company and adopted the same business plan as that of our now wholly owned subsidiary, WB Burgers Japan Co., Ltd (“WBBJ”), which we now operate through and share the same business plan of. On February 9, 2022, we incorporated Store Foods Co., Ltd. (“Store Foods”), a Japan Company. Store Foods is now a wholly owned subsidiary of the Company and currently Koichi Ishizuka is the sole Officer and Director. As a result, we now have two wholly owned subsidiaries, WB Burgers Japan Co., Ltd, and Store Foods Co., Ltd., both of which are Japan Companies.   While our plans for Store Foods are presently on hold, the intended business purpose of the Company is as follows:   1. Food sales; 2. Food wholesale and retail; 3. Chain organizations consisting of food retailers as members; 4. Restaurants; 5. Manufacturing and sales of boxed lunches for catering; 6. Alcohol sales; 7. Health supplement and health drink sales; 8. Manufacturing and sales of functional foods; 9. Lease of goods related to restaurant management; 10. System development; 11. Delivery; 12. Application development and sales; 13. Advertising; 14. Management consulting; 15. All businesses incidental to any of the above.    The Company’s main office is located at 3F K’s Minamiaoyama  6-6-20 Minamiaoyama, Minato-ku, Tokyo 107-0062, Japan.   The Company has elected July 31st as its year end.

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Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Note 2 - Summary of Significant Accounting Policies	Note 2 - Summary of Significant Accounting Policies     Basis of Presentation   This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements.   The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the unaudited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosures contained in the unaudited financial statements for the most recent fiscal period, as reported in the 2023 Annual Report, have been omitted.   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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.   Cash and Cash Equivalents   The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents at April 30, 2024 and July 31, 2023 were $14,419 and $161,213, respectively.   Revenue Recognition   The Company adopted ASC 606, Revenue from Contracts with Customers (Topic 606) (“ASC 606”), in the second quarter of fiscal year 2020, as this was the first quarter that the Company generated revenues. Under ASC 606, the Company recognizes revenue when a customer obtains control of promised goods, in an amount that reflects the consideration that the Company expects to receive in exchange for the goods. To determine revenue recognition for arrangements within the scope of ASC 606, the Company performs the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when or as the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to the customer. Under ASC 606, disaggregated revenue from contracts with customers depicts the nature, amount, timing, and uncertainty of revenue and cash flows affected by economic factors.   Foreign currency translation    The Company maintains its books and records in its local currency, Japanese YEN (“JPY”), which is a functional currency as being the primary currency of the economic environment in which its operation is conducted. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.   The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In accordance with ASC Topic 830-30, “Translation of Financial Statement”, assets and liabilities of the Company whose functional currency is not US$ are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity.   Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates:       April 30,               2024   2023   Current JPY:US$1 exchange rate     156.90   134.13   Average JPY:US$1 exchange rate     148.38   137.04                   Comprehensive income or loss   ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive income or loss, its components and accumulated balances. Comprehensive income or loss as defined includes all changes in equity during a period from non-owner sources. Accumulated comprehensive income, as presented in the accompanying consolidated statements of shareholders’ equity consists of changes in unrealized gains and losses on foreign currency translation.   Accounts Receivable and Allowance for Doubtful Accounts   Accounts receivable are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred.   Inventory    Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out (“FIFO”) method, and are valued at the lower of cost or market value. This valuation requires the Company to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category.   Fixed assets and depreciation   Property, plant and equipment are stated at cost less depreciation and impairment loss. The initial cost of the assets comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the respective assets.   ROU lease assets and liabilities   The Company capitalizes all leased assets pursuant to ASU 2016-02, “Leases (Topic 842),” which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. The Company excludes short-term leases having initial terms of 12 months or less from Topic 842 as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company adopted the standard in the third quarter of fiscal year 2022.   Income Taxes   The Company accounts for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets or liabilities were recognized at April 30, 2024 and July 31, 2023.   Basic Earnings (Loss) Per Share   The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share. Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company.   The Company does not have any potentially dilutive instruments as of April 30, 2024 and, thus, anti-dilution issues are not applicable.   F-5 Table of Contents   Fair Value of Financial Instruments   The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.   ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:   - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable.     Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of April 30, 2024 and July 31, 2023. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses.    Related Parties   The Company follows ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.   On August 18, 2023, our majority shareholder, White Knight Co., Ltd., a Japanese Company, owned and controlled by our sole Officer and Director, Koichi Ishizuka, elected to convert its 1,000,000 shares of Series A Preferred Stock of WB Burgers Asia, Inc. into shares of Common Stock. This conversion has been approved by the Company, and the conversion became effective on August 18, 2023. Every 1 share of Series A Preferred Stock was converted into 1,000 shares of Common Stock, for a total of 10,000,000 shares of Common Stock. An evaluation was made regarding this exchange and it was determined that the Company should post an expense of $276,758 related to the shares valuation.   Share-Based Compensation   ASC 718, “Compensation – Stock Compensation”, prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period).   The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “Equity – Based Payments to Non-Employees.”  Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable:  (a) the goods or services received; or (b) the equity instruments issued.  The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date.     The Company had no stock-based compensation plans as of April 30, 2024. The Company’s stock-based compensation for the periods ended April 30, 2024 and January 31, 2023 were $0 for both periods.   Recently Issued Accounting Pronouncements   The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Note 3 - Going Concern	9 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 3 - Going Concern	Note 3 - Going Concern   The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business.   The Company demonstrates adverse conditions that raise substantial doubt about the Company's ability to continue as a going concern for one year following the issuance of these financial statements. These adverse conditions are negative financial trends, specifically operating loss, working capital deficiency, and other adverse key financial ratios.   The Company has not established any source of revenue to cover its operating costs. Management plans to fund operating expenses with related party contributions to capital and the sale of shares of stock. There is no assurance that management's plan will be successful. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

v3.24.1.1.u2

Note 4 - Income Taxes	9 Months Ended
	Apr. 30, 2024
Income Tax Disclosure [Abstract]
Note 4 - Income Taxes	Note 4 - Income Taxes   Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to differences between the recorded book basis and the tax basis of assets and liabilities for financial and income tax reporting. Deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Deferred taxes are also recognized for operating losses that are available to offset future taxable income and tax credits that are available to offset future federal income taxes. The Company believes that its income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material adverse effect on the Company’s financial condition, results of operations, or cash flow. Therefore, no reserves for uncertain income tax positions have been recorded pursuant to ASC 740.   The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.   As of April 30, 2024, the Company has incurred a net loss of approximately $6,241,592 which resulted in a net operating loss for income tax purposes. The loss results in a deferred tax asset of approximately $1,311,261 at the effective statutory rate of 21%. The deferred tax asset has been offset by an equal valuation allowance. Given our inception on August 30, 2019, and our fiscal year end of July 31, 2023, we have completed four taxable fiscal years as of April 30, 2024.   F-6 Table of Contents

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Note 5 - Commitments and Contingencies	9 Months Ended
	Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Note 5 - Commitments and Contingencies	Note 5 - Commitments and Contingencies   The Company follows ASC 450-20, Loss Contingencies, to report accounting for contingencies. Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. There were no commitments or contingencies as of April 30, 2024 and July 31, 2023.

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Note 6 - Fixed Assets	9 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Note 6 - Fixed Assets	Note 6 - Fixed Assets     Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives. When retired or otherwise disposed, the carrying value and accumulated depreciation of the fixed asset is removed from its respective accounts and the net difference less any amount realized from disposition is reflected in earnings. Expenditures for maintenance and repairs which do not extend the useful lives of the related assets are expensed as incurred.   As of April 30, 2024 and July 31, 2023 fixed assets were made up of the following:       Estimated                   Useful                   Life     April 30,     July 31,       (approx.. years)     2024     2023   Furniture fixtures and equipment     5      $ 41,531     $ 46,224   Furniture fixtures and equipment     6       13,880       15,448   Furniture fixtures and equipment       8       153,405       170,740   Software       5       7,946       10,652   Leasehold improvement     Remaining Lease Term       545,782       607,457                             Accumulated depreciation             (347,562 )     (247,978)   Net book value           $ 414,981       $ 602,543     Total depreciation expense for the periods ended April 30, 2024 and 2023, was $133,644 and $142,557, respectively, all of which was recorded in our general and administrative expenses on our statement of operations.

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Note 7 - Right of Use Asset	9 Months Ended
	Apr. 30, 2024
Leases [Abstract]
Note 7 - Right of Use Asset	Note 7 - Right of Use Asset   The Company capitalizes all leased assets pursuant to ASU 2016-02, “Leases (Topic 842),” which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. The Company excludes short-term leases having initial terms of 12 months or less from Topic 842 as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company adopted the standard in the third quarter of fiscal year 2022.   Our adoption of ASU 2016-02, Leases (Topic 842), and subsequent ASUs related to Topic 842, requires us to recognize substantially all leases on the balance sheet as an ROU asset and a corresponding lease liability. The new guidance also requires additional disclosures as detailed below.   We determine if a contract is a lease at the inception of the arrangement. We review all options to extend, terminate, or purchase the ROU assets, and when reasonably certain to exercise, we include the option in the determination of the lease term and lease liability.   Lease ROU assets and liabilities are recognized at commencement date of the lease, based on the present value of lease payments over the lease term. The lease ROU asset also includes any lease payments made and excludes any lease incentives. When readily determinable, we use the implicit rate in determining the present value of lease payments. When leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date, including the lease term.   The tables below present financial information associated with our leases. As noted above, we adopted Topic 842 using a transition method that does not require application to periods prior to adoption. The initial recognition of the ROU operating lease was $650,820 for both the ROU asset and ROU liability. As of April 30, 2024, the ROU lease liability was $434,899.     Balance Sheet Classification April 30, 2024 July 31, 2023             Right-of-use assets Lease asset long $ 434,899 $ 146,373 Current lease liabilities Short-term lease liability   262,793   156,362 Non-current lease liabilities Lease liability long term 　 172,106 　 -             Maturities of lease liabilities as of April 30, 2024 are as follows:   2024 262,793         2025 172,106         2026 and beyond   -         Total -         Add(Less): Imputed interest -         Present value of lease liabilities 434,899

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Note 8 - Deposits	9 Months Ended
	Apr. 30, 2024
Note 8 - Deposits	Note 8 - Deposits   During the period ended July 31, 2022, the Company paid two security deposits for the leased office and restaurant space totaling approximately $227,451 at the April 30, 2024 exchange rate.

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Note 9 - Accrued Expenses and Other Payables	9 Months Ended
	Apr. 30, 2024
Deprecated Items [Abstract]
Note 9 - Accrued Expenses and Other Payables	Note 9 - Accrued Expenses and Other Payables      Accrued expenses and other payables totaled $2,186 and $2,429 at April 30, 2024 and July 31, 2023, respectively, and consisted primarily of withholding taxes.

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Note 10 - Shareholder Equity	9 Months Ended
	Apr. 30, 2024
Equity [Abstract]
Note 10 - Shareholder Equity	Note 10 - Shareholder Equity      Preferred Stock   The authorized preferred stock of the Company consists of 200,000,000 shares with a par value of $0.0001. There were 0 and 1,000,000 Series A preferred shares issued and outstanding as of April 30, 2024 and July 31, 2023, respectively. Our Certificate of Incorporation authorizes the issuance of up to 200,000,000 shares of Preferred Stock with designations, rights and preferences to be determined from time to time by our Board of Directors. Accordingly, our Board of Directors is empowered, without stockholder approval, to issue Preferred Stock with dividend, liquidation, conversion, voting, or other rights which could adversely affect the voting power or other rights of the holders of the Common Stock. In the event of issuance, the Preferred Stock could be utilized, under certain circumstances, as a method of discouraging, delaying or preventing a change in control of the Company. Although we have no present intention to issue any shares of our authorized Preferred Stock, there can be no assurance that we will not do so in the future.   Of the 200,000,000 shares of preferred stock, 1,000,000 shares are designated as Series A Preferred Stock, $0.0001 par value each. Series A Preferred stock pay no dividends and each share of Series A Preferred Stock shall have voting rights equal to one thousand (1,000) votes of Common Stock. With respect to all matters upon which stockholders are entitled to vote or to which stockholders are entitled to give consent, the holders of the outstanding shares of Series A Preferred Stock shall vote together with the holders of Common Stock without regard to class, except as to those matters on which separate class voting is required by applicable law or the Corporation's Certificate of Incorporation or by-laws.   On August 17, 2023, our majority shareholder, White Knight Co., Ltd., and Koichi Ishizuka, our sole Officer and Director, executed a resolution to ratify, affirm, and approve to file an Amended and Restated Certificate of Incorporation. The Amended and Restated Certificate of Incorporation was filed with the Nevada Secretary of State on August 17, 2023, effective immediately. The Amended and Restated Certificated of Incorporation revised the rights of Series A Preferred Stock, now allowing each one (1) share of Series A Preferred Stock to be converted into one thousand (1,000) shares of Common Stock at the discretion of the holder(s) of Series A Preferred Stock. It also resulted in an increase to the authorized shares of our Common Stock from One Billion Five Hundred Million (1,500,000,000) to Five Billion (5,000,000,000).   On August 18, 2023, our majority shareholder, White Knight Co., Ltd., a Japanese Company, owned and controlled by our sole Officer and Director, Koichi Ishizuka, elected to convert its 1,000,000 shares of Series A Preferred Stock of WB Burgers Asia, Inc. into shares of Common Stock. This conversion has been approved by the Company, and the conversion became effective on August 18, 2023. Every 1 share of Series A Preferred Stock was converted into 1,000 shares of Common Stock, for a total of 10,000,000    shares of Common Stock. An evaluation was made regarding this exchange and it was determined that the Company should post an expense of $276,758 related to the shares valuation.   Common Stock       The authorized common stock of the Company consists of 5,000,000,000 shares with a par value of $0.0001. There were 20,726,542 and 10,707,187 shares of common stock issued and outstanding as of April 30, 2024 and July 31, 2023, respectively.   On August 17, 2023, our majority shareholder, White Knight Co., Ltd., and Koichi Ishizuka, our sole Officer and Director, executed a resolution to ratify, affirm, and approve to file an Amended and Restated Certificate of Incorporation. The Amended and Restated Certificate of Incorporation was filed with the Nevada Secretary of State on August 17, 2023, effective immediately. The Amended and Restated Certificated of Incorporation resulted in an increase to the authorized shares of our Common Stock from One Billion Five Hundred Million (1,500,000,000) to Five Billion (5,000,000,000). It also revised the rights of Series A Preferred Stock, now allowing each one (1) share of Series A Preferred Stock to be converted into one thousand (1,000) shares of Common Stock at the discretion of the holder(s) of Series A Preferred Stock.     On August 18, 2023, our majority shareholder, White Knight Co., Ltd., a Japanese Company, owned and controlled by our sole Officer and Director, Koichi Ishizuka, elected to convert its 1,000,000 shares of Series A Preferred Stock of WB Burgers Asia, Inc. into shares of Common Stock. This conversion has been approved by the Company, and the conversion became effective on August 18, 2023. Every 1 share of Series A Preferred Stock was converted into 1,000 shares of Common Stock, for a total of 1,000,000,000 shares of Common Stock. An evaluation was made regarding this exchange and it was determined that the Company should post an expense of $276,758 related to the shares valuation.   On August 9, 2023, the Company sold 434,783 shares of restricted Common Stock to Takahiro Fujiwara, a Japanese Citizen, at a price of $0.023 per share of Common Stock. The total subscription amount paid by Takahiro Fujiwara was approximately $10,000, which was received by the Company prior to July 31, 2023 and was recorded as shares payable at that time (see Shares payable). Takahiro Fujiwara is not a related party to the Company.   On or about September 12, 2023, we sold 1,488,982 shares of restricted common stock to Shokafulin LLP, a Japanese Company, which is controlled by Takuya Watanabe, a Japanese citizen, at a price of approximately $0.023 per share of common stock.   The total subscription amount paid by Shokafulin LLP was approximately $34,247. Shokafulin LLP and Mr. Watanabe are not related parties to the Company.   On November 3, 2023, the Board of Directors, consisting solely of Koichi Ishizuka, along with White Knight Co., Ltd., and Koichi Ishizuka, “the Consenting Stockholders”, approved the following:   To conduct a 100 to 1 Reverse Stock Split, affecting only the outstanding Common Shares of the Company. Accordingly, the Company will file a Certificate of Change with the Nevada Secretary of State on December 6, 2023.   On April 2, 2024 this 100-1 reverse stock split was completed. Due to rounding, the resulting shares outstanding after the reverse stock split totaled 20,726,542.   Shares payable   During the period ended July 31, 2023, the Company received funds totaling approximately $10,000 to be used to finalize the sale of common shares which took place August 9, 2023 (see Common shares).

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Note 11 - Related-Party Transactions	9 Months Ended
	Apr. 30, 2024
Related Party Transactions [Abstract]
Note 11 - Related-Party Transactions	Note 11 - Related-Party Transactions   Accounts payable   During the period ended April 30, 2024, White Knight, controlled by our CEO Koichi Ishizuka, paid expenses on behalf of our wholly owned subsidiary, Store Foods Co., Ltd., totaling $637.    Partnership and Licensing agreement   During the periods ended April 30, 2024 and July 31, 2023, we operated a ghost kitchen, called Next Restaurant, in partnership with Next Meats Holdings, Inc. (Next Meats). Our CEO, Koichi Ishizuka, is the majority shareholder and CEO of Next Meats. The Company has a licensing agreement with Next Meats related to the Next Restaurant operations whereby the Company pays a 1% royalty fee to Next Meats based on revenue earned from selling Next Meats products. As of April 30, 2024, the royalty liability owed to Next Meats was approximately $134.

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Note 12 - Subsequent Events	9 Months Ended
	Apr. 30, 2024
Subsequent Events [Abstract]
Note 12 - Subsequent Events	Note 12 - Subsequent Events   None.

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Note 2 - Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation   This summary of significant accounting policies is presented to assist in understanding the Company's financial statements. These accounting policies conform to accounting principles, generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements.   The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the unaudited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosures contained in the unaudited financial statements for the most recent fiscal period, as reported in the 2023 Annual Report, have been omitted.
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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. In the opinion of management, all adjustments necessary in order to make the financial statements not misleading have been included. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents   The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents at April 30, 2024 and July 31, 2023 were $14,419 and $161,213, respectively.
Revenue Recognition	Revenue Recognition   The Company adopted ASC 606, Revenue from Contracts with Customers (Topic 606) (“ASC 606”), in the second quarter of fiscal year 2020, as this was the first quarter that the Company generated revenues. Under ASC 606, the Company recognizes revenue when a customer obtains control of promised goods, in an amount that reflects the consideration that the Company expects to receive in exchange for the goods. To determine revenue recognition for arrangements within the scope of ASC 606, the Company performs the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when or as the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to the customer. Under ASC 606, disaggregated revenue from contracts with customers depicts the nature, amount, timing, and uncertainty of revenue and cash flows affected by economic factors.
Foreign currency translation	Foreign currency translation    The Company maintains its books and records in its local currency, Japanese YEN (“JPY”), which is a functional currency as being the primary currency of the economic environment in which its operation is conducted. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.   The reporting currency of the Company is the United States Dollars (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In accordance with ASC Topic 830-30, “Translation of Financial Statement”, assets and liabilities of the Company whose functional currency is not US$ are translated into US$, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements are recorded as a separate component of accumulated other comprehensive income within the statements of shareholders’ equity.   Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates:       April 30,               2024   2023   Current JPY:US$1 exchange rate     156.90   134.13   Average JPY:US$1 exchange rate     148.38   137.04
Comprehensive income or loss	Comprehensive income or loss   ASC Topic 220, “Comprehensive Income”, establishes standards for reporting and display of comprehensive income or loss, its components and accumulated balances. Comprehensive income or loss as defined includes all changes in equity during a period from non-owner sources. Accumulated comprehensive income, as presented in the accompanying consolidated statements of shareholders’ equity consists of changes in unrealized gains and losses on foreign currency translation.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts   Accounts receivable are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An estimate for doubtful accounts is made when collection of the full amount is no longer probable. Bad debts are written off as incurred.
Inventory	Inventory    Inventories, consisting of products available for sale, are primarily accounted for using the first-in, first-out (“FIFO”) method, and are valued at the lower of cost or market value. This valuation requires the Company to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category.
Fixed assets and depreciation	Fixed assets and depreciation   Property, plant and equipment are stated at cost less depreciation and impairment loss. The initial cost of the assets comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the respective assets.
ROU lease assets and liabilities	ROU lease assets and liabilities   The Company capitalizes all leased assets pursuant to ASU 2016-02, “Leases (Topic 842),” which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. The Company excludes short-term leases having initial terms of 12 months or less from Topic 842 as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company adopted the standard in the third quarter of fiscal year 2022.
Income Taxes	Income Taxes   The Company accounts for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets or liabilities were recognized at April 30, 2024 and July 31, 2023.
Basic Earnings (Loss) Per Share	Basic Earnings (Loss) Per Share   The Company computes basic and diluted earnings (loss) per share in accordance with ASC Topic 260, Earnings per Share. Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company.   The Company does not have any potentially dilutive instruments as of April 30, 2024 and, thus, anti-dilution issues are not applicable.   F-5 Table of Contents
Fair Value of Financial Instruments	Fair Value of Financial Instruments   The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization.   ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:   - Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. - Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. - Level 3 - Inputs that are both significant to the fair value measurement and unobservable.     Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of April 30, 2024 and July 31, 2023. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accrued expenses.
Related Parties	Related Parties   The Company follows ASC 850, Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.   On August 18, 2023, our majority shareholder, White Knight Co., Ltd., a Japanese Company, owned and controlled by our sole Officer and Director, Koichi Ishizuka, elected to convert its 1,000,000 shares of Series A Preferred Stock of WB Burgers Asia, Inc. into shares of Common Stock. This conversion has been approved by the Company, and the conversion became effective on August 18, 2023. Every 1 share of Series A Preferred Stock was converted into 1,000 shares of Common Stock, for a total of 10,000,000 shares of Common Stock. An evaluation was made regarding this exchange and it was determined that the Company should post an expense of $276,758 related to the shares valuation.
Share-Based Compensation	Share-Based Compensation   ASC 718, “Compensation – Stock Compensation”, prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period).   The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, “Equity – Based Payments to Non-Employees.”  Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable:  (a) the goods or services received; or (b) the equity instruments issued.  The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date.     The Company had no stock-based compensation plans as of April 30, 2024. The Company’s stock-based compensation for the periods ended April 30, 2024 and January 31, 2023 were $0 for both periods.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements   The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Note 2 - Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Translation of amounts from the local currency of the Company into US$1	Translation of amounts from the local currency of the Company into US$1 has been made at the following exchange rates:       April 30,               2024   2023   Current JPY:US$1 exchange rate     156.90   134.13   Average JPY:US$1 exchange rate     148.38   137.04

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Note 6 - Fixed Assets (Tables)	9 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
As of April 30, 2024 and July 31, 2023 fixed assets	As of April 30, 2024 and July 31, 2023 fixed assets were made up of the following:       Estimated                   Useful                   Life     April 30,     July 31,       (approx.. years)     2024     2023   Furniture fixtures and equipment     5      $ 41,531     $ 46,224   Furniture fixtures and equipment     6       13,880       15,448   Furniture fixtures and equipment       8       153,405       170,740   Software       5       7,946       10,652   Leasehold improvement     Remaining Lease Term       545,782       607,457                             Accumulated depreciation             (347,562 )     (247,978)   Net book value           $ 414,981       $ 602,543

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Note 7 - Right of Use Asset (Tables)	9 Months Ended
	Apr. 30, 2024
Leases [Abstract]
The tables below present financial information associated with our leases	The tables below present financial information associated with our leases. As noted above, we adopted Topic 842 using a transition method that does not require application to periods prior to adoption. The initial recognition of the ROU operating lease was $650,820 for both the ROU asset and ROU liability. As of April 30, 2024, the ROU lease liability was $434,899.     Balance Sheet Classification April 30, 2024 July 31, 2023             Right-of-use assets Lease asset long $ 434,899 $ 146,373 Current lease liabilities Short-term lease liability   262,793   156,362 Non-current lease liabilities Lease liability long term 　 172,106 　 -             Maturities of lease liabilities as of April 30, 2024 are as follows:   2024 262,793         2025 172,106         2026 and beyond   -         Total -         Add(Less): Imputed interest -         Present value of lease liabilities 434,899

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Note 2 - Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Apr. 30, 2024	Jul. 31, 2023
Accounting Policies [Abstract]
[custom:Cashequivalentsasof-0]	$ 14,419	$ 161,213

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Note 4 - Income Taxes (Details Narrative)	Apr. 30, 2024 USD ($)
Income Tax Disclosure [Abstract]
[custom:Incurrednetloss-0]	$ 6,241,592
[custom:Deferredtaxassetapprox-0]	$ 1,311,261

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Note 6 - Fixed Assets (Details Narrative) - USD ($)	9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Accounting Policies [Abstract]
Depreciation Expense	$ 133,644	$ 142,557

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The tables below present financial information associated with our leases (Details)	Apr. 30, 2024 USD ($)
Leases [Abstract]
initial rou operating lease	$ 650,820
rou lease liabilities	$ 434,899

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Note 8 - Deposits (Details Narrative)	Apr. 30, 2024 USD ($)
Deposits, as of	$ 227,451

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Note 9 - Accrued Expenses and Other Payables (Details Narrative) - USD ($)	Apr. 30, 2024	Jul. 31, 2023
Deprecated Items [Abstract]
[custom:Accruedexpensesandotherpayables-0]	$ 2,186	$ 2,429

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Note 10 - Shareholder Equity (Details Narrative) - USD ($)	9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Equity [Abstract]
Loss on exchange of shares	$ 276,758

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Note 11 - Related-Party Transactions (Details Narrative)	3 Months Ended
	Apr. 30, 2024 USD ($)
Related Party Transactions [Abstract]
[custom:Expensespaidbykoichiforstorefoods]	$ 637
royalty liability	$ 134

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