Sale of Assets to Related Party (Details Narrative) - May 13, 2020 [Member] - First Bitcoin Capital Inc. [Member] |
9 Months Ended |
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Oct. 31, 2020
USD ($)
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| Purchase Price | $ 1,900,000 |
| Interest fee | 9.00% |
| Discount rate | 10.00% |
| Purchase Price Description | The $1,900,000 was paid through the transfer of $500,000 in BIT cryptocurrency and a $1,400,000 convertible promissory note. The Company received 122,968,776.18 BIT tokens at the price of $0.004066098 per token |
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- Definition Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. No definition available.
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- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. No definition available.
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- Definition The cash inflow from disposal of asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Excluding long-term commitments, description of arrangements in which the entity has agreed to expend funds to procure goods or services from one or more suppliers, which may include identification of the goods or services to be purchased, identity of the seller, pricing, effects on pricing (such as penalties) of failing to reach minimum quantities required to be purchased, cancellation rights, and termination provisions. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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