Organization and Basis of Presentation
|6 Months Ended|
Jul. 31, 2022
|Organization and Basis of Presentation|
|Organization and Basis of Presentation||
Note 1. Organization and Basis of Presentation
The accompanying unaudited consolidated financial statements of Everything Blockchain, Inc. and its consolidated subsidiaries (collectively, the “Company”, “we”, “our”), have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules of the SEC. All significant intercompany accounts and transactions have been eliminated in consolidation.
Description of Business
The Company is primarily engaged in the business of consulting and developing blockchain and cybersecurity related solutions.
Subsidiaries of the Company
On April 26, 2021, the Company became the sole owner of Render Payment, LLC (“Render”). On June 21, 2021, the Company acquired all of the equity interests of 832 Energy Technology Consultants, LLC (“832”). On June 30, 2021, the Company acquired all of the equity interests of Mercury, Inc. (“Mercury”). On July 31, 2021, the Company acquired all of the equity interests of Vengar Technologies LLC (“Vengar”).
The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef