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Investment in associate | 3 Months Ended
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Oct. 31, 2025
Investment in associate [Abstract] |
Investment in associate |
7. | Investment in associate
On November 6, 2024, the Company received 2,000,000 shares in FCS, in connection with an agreement to acquire a stake in FCS in exchange for 200,000 shares of the Company that was entered into on October 28, 2024. At the time of acquisition, the 2,000,000 shares of FCS received by the Company represented 50% of shares outstanding, and the initial balance of investment was determined to be $1,220,000 being the fair value of the shares issued by the Company in consideration for the exchange. As at October 31, 2025, the Company’s share of ownership remained at 50%. Management assessed that the Company has significant influence over FCS based on its share of ownership, and that the investment should be accounted for using the equity method of accounting. Summarized financial information of FCS and a reconciliation of the carrying amount of the investment set forth in the consolidated balance sheets are set out below: Summarized balance sheet
|  | October 31, 2025 |
ASSETS |  |  |
Cash |  | $ | 162 |
Due from related parties |  |  | 123,075 |
Start-up costs, net |  |  | 101,859 |
Total assets |  | $ | 225,096 |
LIABILITIES |  |  |  |
Accounts payable and accrued liabilities |  | $ | 255,875 |
Convertible notes |  |  | 1,303,875 |
Total liabilities |  | $ | 1,559,750 |
Summarized statement of loss
|  | For the three months ended October 31, 2025 |
Operating expenses |  |  |
General and administrative expenses |  | $ | 2,339 |
Guaranteed payments |  |  | 150,899 |
Legal and professional fees |  |  | 1,337 |
Travel |  |  | 1,241 |
Amortization |  |  | 5,493 |
Total operating expenses |  |  | (161,309 | )
Interest expenses |  |  | (17,825 | )
Net loss |  | $ | (179,134 | )
Company’s ownership |  |  | 50 | %
Company’s share of loss |  | $ | (89,567 | )
A continuity of the Company’s investment in associate is as follows:
Balance as at July 31, 2024 |  | $ | - |
Investment by the Company |  |  | 1,220,000 |
Company’s share of loss |  |  | (512,011 | )
Balance as at July 31, 2025 |  | $ | 707,989 |
Company’s share of loss |  |  | (89,567 | )
Balance as at October 31, 2025 |  | $ | 618,422 |

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