Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended October 31, 2023

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ______________ to ______________

Commission file number 000-53048

Concrete Leveling Systems, Inc.

(Exact name of registrant as specified in its charter)

Nevada		26-0851977
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

5046 E. Boulevard, NW, Canton, OH		44718
(Address of principal executive offices)		(Zip Code)

(330) 966-8120

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of exchange on which registered
Common Stock		CLEV		OTC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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 fling requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth 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 ☐ No ☒

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ☐ No ☐

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. 14,027,834 shares of common stock outstanding as of November 29, 2023.

CONCRETE LEVELING SYSTEMS, INC.

Index

		Page
Part I – FINANCIAL INFORMATION

Item 1.	Financial Statements	3

	Balance Sheets as of October 31, 2023 (unaudited) and July 31, 2023 (audited)	3

	Statements of Operations for the three months ended October 31, 2023 and 2022 (unaudited)	4

	Statements of Stockholders’ Deficit for the three months ended October 31, 2023 and 2022 (unaudited)	5

	Statements of Cash Flows for the three months ended October 31, 2023 and 2022 (unaudited)	6

	Notes to Financial Statements (unaudited)	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	11

Item 3.	Quantitative and Qualitative Disclosure About Market Risk	14

Item 4.	Controls and Procedures	14

Part II - OTHER INFORMATION

Item 1.	Legal Proceedings	16

Item 1A.	Risk Factors	16

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	16

Item 3.	Defaults Upon Senior Securities	16

Item 4.	Mine Safety Disclosures	16

Item 5.	Other Information	16

Item 6.	Exhibits	17

SIGNATURES		18

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PART I – FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

Concrete Leveling Systems, Inc.
Balance Sheets
October 31, 2023 and July 31, 2023

	October 31, 2023			July 31, 2023
	(Unaudited)			(Audited)
Assets

Current Assets
Cash	$	748		$	682
Inventory		23,803			23,862
Prepaid expenses		-			900
Total Current Assets		24,551			25,444

Property, Plant and Equipment
Equipment		700			700
Less: Accumulated depreciation		(700	)		(700	)
Total Property, Plant and Equipment, net		-			-

Total Assets	$	24,551		$	25,444

Liabilities and Stockholders’ Deficit

Current Liabilities
Accounts payable and accrued expenses	$	28,368		$	25,403
Accrued interest - stockholders		40,655			38,404
Advances - stockholders		289,019			268,944
Notes payable - stockholders		186,967			186,967
Total Current Liabilities		545,009			519,718

Commitments and Contingencies (Note 4)

Stockholders’ Deficit
Common stock (par value $0.001)
100,000,000 shares authorized:
14,027,834 shares issued and outstanding		14,027			14,027
Additional paid-in capital		433,209			433,209
Accumulated deficit		(967,694	)		(941,510	)
Total Stockholders’ Deficit		(520,458	)		(494,274	)

Total Liabilities and Stockholders’ Deficit	$	24,551		$	25,444

See accompanying notes to unaudited financial statements.

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Concrete Leveling Systems, Inc.
Statements of Operations
For the Three Months October 31, 2023 and 2022 (Unaudited)



	2023			2022

Equipment and parts sales	$	175		$	200

Cost of sales		59			82

Gross margin		116			118

Operating expenses
Legal and professional fees		20,976			16,150
Selling, general and administration		2,723			2,270
Total operating expenses		23,699			18,420

Loss from Operations		(23,583	)		(18,302	)

Other income (expense)
Interest expense		(2,601	)		(2,536	)
Total other expense		(2,601	)		(2,536	)

Net loss before income taxes		(26,184	)		(20,838	)

Provision for Income Taxes		-			-

Net loss	$	(26,184	)	$	(20,838	)

Net loss per share - basic and fully diluted	$	(0.00	)	$	(0.00	)

Weighted average number of common shares outstanding - basic and fully diluted		14,027,834			14,027,834

See accompanying notes to unaudited financial statements.

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Concrete Leveling Systems, Inc.
Statements of Stockholders' Deficit
For the Three Months Ended October 31, 2023 and 2022 (Unaudited)


	Common Stock				Additional					Total
	Issued		Par		Paid-in		Accumulated			Stockholders’
	Shares		Value		Capital		Deficit			Deficit

Balance July 31, 2023		14,027,834	$	14,027	$	433,209	$	(941,510	)	$	(494,274	)

Net loss		-		-		-		(26,184	)		(26,184	)

Balance October 31, 2023		14,027,834	$	14,027	$	433,209	$	(967,694	)	$	(520,458	)

	Common Stock				Additional					Total
	Issued		Par		Paid-in		Accumulated			Stockholders’
	Shares		Value		Capital		Deficit			Deficit

Balance July 31, 2022		14,027,834	$	14,027	$	433,209	$	(887,780	)	$	(440,544	)

Net loss		-		-		-		(20,838	)		(20,838	)

Balance October 31, 2022		14,027,834	$	14,027	$	433,209	$	(908,618	)	$	(461,382	)

See accompanying notes to unaudited financial statements.

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Concrete Leveling Systems, Inc.
Statements of Cash Flows
For the Three Months Ended October 31, 2023 and 2022 (Unaudited)


	2023			2022

Cash Flows from Operating Activities

Net loss	$	(26,184	)	$	(20,838	)
Adjustments to reconcile net loss to net cash
used in operating activities:
Inventory		59			82
Prepaid expenses		900			607
Accounts payable and accrued expenses		2,965			402
Accrued interest - stockholders		2,251			2,252
Net cash from operating activities		(20,009	)		(17,495	)

Cash Flows from Financing Activities
Advances from stockholders		20,075			17,248
Net cash from financing activities		20,075			17,248

Net change in cash		66			(247	)
Cash - beginning		682			747
Cash - ending	$	748		$	500

Supplemental Disclosure of Cash Flows Information
Cash paid for interest	$	350		$	284
Cash paid for income taxes	$	-		$	-

See accompanying notes to unaudited financial statements.

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CONCRETE LEVELING SYSTEMS, INC.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

OCTOBER 31, 2023

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of significant accounting policies of Concrete Leveling Systems, Inc. (hereinafter the “Company”), is presented to assist in understanding the financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) and have been consistently applied in the preparation of the financial statements.

Nature of Operations

The Company manufactures for sale specialized equipment for use in the concrete leveling industry. The Company’s product is sold primarily to end users.

On March 24, 2017, the Company entered into an agreement with Jericho Associates, Inc. (“Jericho”), a start-up company which plans to operate in the gaming, hospitality and entertainment industries. The Company issued Jericho 7,151,416 shares of the Company’s common stock, subject to a performance requirement, which provides that by March 1, 2018, if the management of Jericho does not identify at least one entity or business opportunity for acquisition, in order to supplement the Company’s current business operations, the shares issued as part of the agreement shall be returned to the Company. In July 2017, an additional 481,000 shares were issued to shareholders of Jericho under the same contingencies as the original shares.

On February 25, 2018, Jericho identified the acquisition of 50% interests in two LLCs (the “LLCs”). The LLCs have a Term Sheet agreement to develop a casino and hotel resort, and provide certain gaming equipment on a shared profit basis (the “Project”). The Project is in the process of regulatory review, finalization of closing documents, and completion of financing. Notwithstanding the identification of the business opportunity, the shares issued to Jericho remain contingent upon the regulatory review, the finalization of closing documentation, and the completion of financing arrangements for the project. Also, upon the regulatory review, the finalization of closing documentation, and the completion of financing arrangements for the project, the Company’s President will cancel all shares of common stock held (879,167 shares as of October 31, 2023), the Company’s Chief Executive Officer will cancel all but 550,000 shares of common stock held (2,951,667 shares as of October 31, 2023), subject to an 18-month non-dilution right in order to maintain an ownership percentage of 4.99%, and the Company’s Secretary will cancel all but 45,000 shares of common stock held (185,000 shares as of October 31, 2023). Prior to the August 13, 2018 amendment to the agreement with Jericho, the Chief Executive Officer would cancel all but 523,000 shares of her common stock, subject to an 18-month non-dilution right in order to maintain an ownership percentage of 4.99%. The amendment provided that the Chief Executive Officer would retain an additional 27,000 shares of common stock and the non-dilution right was eliminated.

Principal Services

If the transaction with Jericho finalizes, the Company will operate two business divisions, which will be operated simultaneously and consist of the following:

The concrete leveling division of the business will fabricate and market a concrete leveling service unit utilized in the concrete leveling industry. This unit secures to the back of a truck and consists of a mixing device to mix lime with water and a pumping device capable of pumping the mixture under pressure into pre-drilled holes in order to raise the level of any flat concrete surface.

The gaming and hospitality division of the business will focus on casino gaming, hospitality, entertainment and leisure time industries, and will pursue opportunities in the tribal and commercial casino gaming industries, both in California and Nevada. The Company will also operate in the casino gaming technology industry, and is seeking opportunities to partner, joint venture, or acquire companies developing casino games that combine traditional casino games with the challenge of video games and the playability of social games, meaning games that pit the player’s skill against the skill of another player as opposed to the casino itself.

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Basis of Presentation

The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is July 31.

Revenue Recognition

The Company recognizes revenue in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, “Revenue from contracts with customers”. Revenue is recognized when a customer obtains control of the promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount; (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each 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 or services it transfers to the customer. Once a contract is determined to be within the scope of FASB ASC Topic 606 at contract inception, the Company reviews the contract to determine which performance obligation the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Advertising and Marketing

Advertising and marketing costs are charged to operations when incurred. Advertising costs were $0 for the three months ended October 31, 2023 and 2022.

Inventory

Inventories, which consist of parts and work in progress, are recorded at the lower of first-in first-out cost or net realizable value (estimated selling price less costs of completion, disposal and transportation). When an impairment suggests that the carrying amounts of inventories might not be recoverable, the Company reviews such carrying amounts and estimates the net realizable value based on the most reliable evidence available at that time. An impairment loss is recorded if the net realizable value is less than the carrying value. Impairment indicators considered for these purposes are, among others, obsolescence, decrease in market prices, damage and a firm commitment to sell.

Use of Estimates

The preparation of the financial statements in conformity with GAAP 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 period. Actual results could differ from those estimates.

Property, Plant, and Equipment

Property, plant, and equipment are recorded at cost. Depreciation is provided for by using the straight-line method over the estimated useful lives of the respective assets.

Maintenance and repairs are charged to expense as incurred. Major additions and betterments are capitalized. When items of property and equipment are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the determination of net income.

Income taxes

Concrete Leveling Systems, Inc. recognizes deferred income tax assets and liabilities for the expected future tax consequences of temporary differences between the income tax and financial reporting carrying amount of the Company’s assets and liabilities. The Company monitors its deferred tax assets and evaluates the need for a valuation allowance based on the estimate of the amount of such deferred tax assets that it believes does not meet the more-likely-than-not recognition criteria. The Company also evaluates whether it has any uncertain tax positions and would record a reserve if management believes it is more likely than not their position would not prevail with the applicable tax authorities. The Company’s assessment of tax positions as of October 31, 2023 and July 31, 2023, determined that there were no material uncertain tax positions.

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Going Concern

The Company has sustained substantial operating losses since its inception. In addition, the Company has used substantial amounts of working capital in its operations. Further, at October 31, 2023, current liabilities exceed current assets by $520,458, and total liabilities exceed total assets by $520,458.

Success will be dependent upon management’s ability to obtain future financing and liquidity, and success of its future operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 2 - INCOME TAXES

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Additionally, the recognition of future tax benefits, such as net operating loss carry forwards, is required to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities 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 tax expense in the period that includes the enactment date.

In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities result in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies.

As of October 31, 2023, the Company had net operating loss carry forwards of approximately $783,790 that may be available to reduce future years’ taxable income in varying amounts through 2041.

The Company’s income tax returns are subject to examination by tax authorities. Generally, the statute of limitations related to the Company’s federal and state income tax return is three years from the date of filing. The state impact of any federal changes of prior years remains subject to examination for a period of up to five years after formal notification to the states.

Management has evaluated tax positions in accordance with FASB ASC 740, Income Taxes, and has not identified any significant tax positions, other than those disclosed.

Income taxes on continuing operations include the following:

	October 31, 2023		July 31, 2023

Currently payable	$	-0-	$	-0-
Deferred		-0-		-0-

Total	$	-0-	$	-0-

A reconciliation of the effective tax rate with the statutory U.S. income tax rate is as follows:

	October 31, 2023						October 31, 2022
	Income			% of Pretax Amount			Income			% of Pretax Amount

Income taxes per statement of operations	$	-0-			0	%	$	-0-			0	%

Loss for financial reporting purposes without tax expense or benefit		(5,000	)		(21	)		(3,900	)		(21	)
Income taxes at statutory rate	$	(5,000	)		(21	)%	$	(3,900	)		(21	)%

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The components of and changes in the net deferred taxes were as follows:

Deferred tax assets:

	October 31, 2023			July 31, 2023

Net operating loss carryforwards	$	164,600		$	159,600
Compensation and miscellaneous		8,500			8,100
Deferred tax assets		173,100			167,700
Valuation Allowance		(173,100	)		(167,700	)
Net deferred tax assets:	$	-0-		$	-0-

Tax periods ended July 31, 2018 through 2023 are subject to examination by major taxing authorities.

NOTE 3 - RELATED PARTIES

The Company uses warehouse and office space belonging to one of its stockholders. The stockholder does not charge the Company rent or other fees for the use of these facilities.

Four stockholders of the Company loaned a total of $62,750 to the Company at various times during the years ended July 31, 2010 through 2012. The loans carry interest rates from 8.00% to 12.00% and are due on demand. The balances on the loans are $62,750 at October 31, 2023 and July 31, 2023. Effective July 31, 2013, further interest accrual was waived by the noteholders. Accrued interest is $15,139 at October 31, 2023 and July 31, 2023.

One of the Company’s stockholders and a company owned by the stockholder advanced a total of $124,817 to the Company at various times between November 2012 and December 2020. On December 31, 2020, $124,217 of the balance of the advances was converted to a note payable to the stockholder. The note carries interest at a rate of 7.25% and is payable on demand. Accrued interest is $25,516 and $23,265 at October 31, 2023 and July 31, 2023, respectively. The balances on the advances and note payable are $128,017 and $127,467 at October 31, 2023 and July 31, 2023, respectively. The advances carry no interest.

Another stockholder of the Company paid invoices of the Company at various times between August 2018 and October 2023. The balances on these advances are $285,219 and $265,694 at October 31, 2023 and July 31, 2023, respectively. The advances carry no interest.

NOTE 4 – COMMITMENTS AND CONTINGENCIES

During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with FASB ASC 450-20-50, Contingencies. The Company evaluates its exposure to the matter, possible legal or settlement strategies and the likelihood of an unfavorable outcome. If the Company determines that an unfavorable outcome is probable and can be reasonably estimated, it establishes the necessary accruals. As of October 31, 2023, the Company is not aware of any contingent liabilities that should be reflected in the financial statements.

NOTE 5 - SUBSEQUENT EVENTS

The Company has evaluated all subsequent events through December 13, 2023, the date the financial statements were available to be issued. There are no subsequent events to report.

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PART I - FINANCIAL INFORMATION

ITEM 1 - FINANCIAL STATEMENTS

ITEM 2 - MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

For purposes of this report, unless otherwise indicated or the context otherwise requires, all references herein to “Concrete Leveling Systems”, “CLEV”, “the Company, “we”, “us”, and “our”, refer to Concrete Leveling Systems, Inc., a Nevada corporation.

Cautionary Statement Concerning Forward-Looking Statements

This report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management and information currently available to management. The use of words such as “believes”, “expects”, “anticipates”, “intends”, “plans”, “estimates”, “should”, “likely” or similar expressions, indicates a forward-looking statement.

The identification in this report of factors that may affect our future performance and the accuracy of forward-looking statements is meant to be illustrative and by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.

Factors that could cause our actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to:

	·	Trends affecting the Company’s financial condition, results of operations, or future prospects;
	·	The Company’s business and growth strategies;
	·	The Company’s financing plans and forecasts;
	·	The factors that we expect to contribute to our success and the Company’s ability to be successful in the future;
	·	The Company’s business model and strategy for realizing positive results as sales increase;
	·	Competition, including the Company’s ability to respond to such competition and its expectations regarding continued competition in the market in which the Company competes;
	·	Expenses;
	·	The Company’s ability to meet its projected operating expenditures and the costs associated with development of new projects;
	·	The Company’s ability to pay dividends or to pay any specific rate of dividends, if declared;
	·	The impact of new accounting pronouncements on its financial statements;
	·	That the Company’s cash flows from operating activities will be sufficient to meet its projected operating expenditures for the next twelve months;
	·	The Company’s market risk exposure and efforts to minimize risk;
	·	Development opportunities and its ability to successfully take advantage of such opportunities;
	·	Regulations, including anticipated taxes, tax credits or tax refunds expected;
	·	The outcome of various tax audits and assessments, including appeals thereof, timing of resolution of such audits, the Company’s estimates as to the amount of taxes that will ultimately be owed and the impact of these audits on the Company’s financial statements;
	·	The Company’s overall outlook including all statements under Management’s Discussion and Analysis or Plan of Operation;
	·	That estimates and assumptions made in the preparation of financial statements in conformity with US GAAP may differ from actual results; and
	·	Expectations, plans, beliefs, hopes or intentions regarding the future.

The following discussion and analysis was prepared to supplement information contained in the accompanying financial statements and is intended to provide certain details regarding the Company’s financial condition as of October 31, 2023, and the results of operations for the three months ended October 31, 2023. It should be read in conjunction with the unaudited financial statements and notes thereto contained in this report as well as the audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal years ended July 31, 2023 and 2022.

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Overview

Concrete Leveling Services, Inc. (“we”, “us”, “our” or the “Company”) was incorporated on August 28, 2007 in the State of Nevada. The Company’s principal offices are located at 5046 East Boulevard Northwest, Canton, Ohio 44718. In Ohio, the Company does business under the trade name of CLS Fabricating, Inc. CLS has never declared bankruptcy, it has never been in receivership, and it has never been involved in any legal action or proceedings.

Also, upon the regulatory review, the finalization of closing documentation, and the completion of financing arrangements for the project, the Company’s President will cancel all shares of common stock held (879,167 shares as of October 31, 2023), the Company’s Chief Executive Officer will cancel all but 550,000 shares of common stock held (2,951,667 shares as of October 31, 2023), subject to an 18-month non-dilution right in order to maintain an ownership percentage of 4.99%, and the Company’s Secretary will cancel all but 45,000 shares of common stock held (185,000 shares as of October 31, 2023). Prior to the August 13, 2018 amendment to the agreement with Jericho, the Chief Executive Officer would cancel all but 523,000 shares of her common stock, subject to an 18-month non-dilution right in order to maintain an ownership percentage of 4.99%. The amendment provided that the Chief Executive Officer would retain an additional 27,000 shares of common stock and the non-dilution right was eliminated.

Principal Services

If a transaction with Jericho finalizes, the Company will operate two business divisions, which will be operated simultaneously and consist of the following:

For the Three months Ended October 31, 2023 Compared to the Three months Ended October 31, 2022

The Company generated $175 in revenue for the three months ended October 31, 2023, which compares to revenue of $200 for the three months ended October 31, 2022. Our revenues decreased during the three months ended October 31, 2023, due to lower parts sales.

Cost of sales for the three months ended October 31, 2023 was $59, which compares to cost of sales of $82 for the three months ended October 31, 2022. Our costs of sales decreased during the three months ended October 31, 2023, due to lower parts sales.

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Operating expenses, which consisted of selling, general, and administrative expenses, and legal and professional fees for the three months ended October 31, 2023, were $23,699. This compares with operating expenses for the three months ended October 31, 2022 of $18,420. Our operating expenses increased during the three months ended October 31, 2023 primarily due to increases in our professional fees resulting from higher accounting and auditing fees.

As a result of the foregoing, we had a net loss of $26,184 for the three months ended October 31, 2023. This compares with a net loss of $20,838 for the three months ended October 31, 2022.

In its audited financial statements as of July 31, 2023, the Company was issued an opinion by its auditors that raised substantial doubt about the ability to continue as a going concern based on the Company’s current financial position. Our ability to achieve and maintain profitability and positive cash flow is dependent upon our ability to successfully develop and market our products and our ability to generate revenues.

Liquidity and Capital Resources

As of October 31, 2023, we had cash of $748. As of July 31, 2023, we had cash of $682.

We believe that with our existing cash flows, we do not have sufficient cash to meet our operating requirements for the next twelve months. We believe that with the addition of our gaming and hospitality business, we will begin to generate increased revenue over the 2024 fiscal year. However, if our revenue is not sufficient to allow us to meet our cash requirements during the next twelve months, the Company may need to raise additional funds through the sale of debt or equity securities. We cannot guarantee that we will be successful in generating sufficient revenues or other funds in the future to cover these operating costs. Failure to generate sufficient revenues or additional financing when needed could cause us to go out of business.

Net cash used in operating activities for the three months ended October 31, 2023 was $20,009. This compares to net cash used in operating activities of $17,495 for the three months ended October 31, 2022. We experienced a higher operating loss during the three months ended October 31, 2023.

Cash flows provided by financing activities were $20,075 for the three months ended October 31, 2023 which compares to cash flows provided by financing activities of $17,248 for the three months ended October 31, 2022. The change in cash flows provided by financing activities is due to more advances from stockholders during the three months ended October 31, 2023. We anticipate significant increases in cash flows provided by financing activities during the next 12 months, as we intend to raise capital through either debt or equity securities to fund our business.

As of October 31, 2023, our total assets were $24,551 and our total liabilities were $545,009. As of July 31, 2023, our total assets were $25,444 and our total liabilities were $519,718.

Critical Accounting Policies and Estimates

We believe that the following critical policies affect our more significant judgments and estimates used in preparation of our financial statements.

We disclose those accounting policies that we consider to be significant in determining the amounts to be utilized for communicating our financial position, results of operations and cash flows in the first note to our financial statements included elsewhere herein. Our discussion and analysis of our financial condition and results of operations are based on our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of financial statements in conformity with these principles requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results are likely to differ from these estimates, but management does not believe such differences will materially affect our financial position or results of operations.

We believe that the following accounting policies are the most critical because they have the greatest impact on the presentation of our financial condition and results of operations.

Table of Contents

Use of Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America 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 period. Actual results could differ from those estimates.

Going Concern

The Company was formed on August 28, 2007 and was in the development stage through July 31, 2009. The year ended July 31, 2010 was the first year during which it was considered an operating company. The Company has sustained substantial operating losses since its inception. In addition, the Company has used substantial amounts of working capital in its operations. Further, at October 31, 2023, our liabilities exceed our assets by $520,458.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on its financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Foreign Currency Transactions

None.

ITEM 3 – QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide this information.

ITEM 4 – CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

We maintain “disclosure controls and procedures”, as that term is defined in Rule 13a-15(e), promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in our company’s reports filed under the Securities Exchange Act of 1934 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 to our management, including our principal executive officer and our principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

As required by paragraph (b) of Rules 13a-15 under the Securities Exchange Act of 1934, our management, with the participation of our principal executive officer and our principal financial officer, evaluated our company’s disclosure controls and procedures as of the end of the period covered by this quarterly report on Form 10-Q. Based on this evaluation, our management concluded that as of the end of the period covered by this quarterly report on Form 10-Q, our disclosure controls and procedures were not effective.

Table of Contents

Management Report on Internal Control Over Financial Reporting

Management is responsible for establishing and maintaining adequate internal control over the Company’s financial reporting. In order to evaluate the effectiveness of internal control over financial reporting, as required by Section 404 of the Sarbanes-Oxley Act of 2002. Our management, with the participation of our principal executive officer and principal financial officer have conducted an assessment, including testing, using the criteria in Internal Control – Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) (2013). Our system of internal control over financial reporting is designed 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. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. This assessment included review of the documentation of controls, evaluation of the design effectiveness of controls, testing of the operating effectiveness of controls and a conclusion on this evaluation. Based on this evaluation, management concluded that our internal control over financial reporting was not effective as of October 31, 2023. The ineffectiveness of the Company’s internal control over financial reporting was due to the following material weaknesses, which are indicative of many small companies with small staff:

	(I)	inadequate segregation of duties consistent with control objectives;

	(ii)	lack of a code of ethics;

	(iii)	lack of a whistleblower policy;

	(iv)	lack of an independent board of directors or board committees related to financial reporting; and

	(v)	lack of multiple levels of supervision and review.

We believe that the weaknesses identified above have not had any material effect on our financial results. While not being legally obligated to have an audit committee, it is our management’s view that such a committee, including an independent financial expert member, is an utmost important entity level control over the Company’s financial statements. Currently, the board of directors acts in the capacity of the audit committee. However, we are currently reviewing our disclosure controls and procedures related to these material weaknesses and expect to implement changes in the 2024 fiscal year, including identifying specific areas within our governance, accounting and financial reporting processes to add adequate resources to potentially mitigate these material weaknesses.

Our management will continue to monitor and evaluate the effectiveness of our internal controls and procedures and our internal controls over financial reporting on an ongoing basis and is committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow.

Because of its inherent limitations, internal controls over financial reporting may not prevent or detect misstatements. 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. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

Management’s Remediation Plan

The weaknesses and their related risks are not uncommon in a company of our size because of the limitations in the size and number of staff. Due to our size and nature, segregation of all conflicting duties has not always been possible and may not be economically feasible.

However, we plan to take steps to enhance and improve the design of our internal control over financial reporting. During the period covered by this quarterly report on Form 10-Q, we have not been able to remediate the material weaknesses identified above. To remediate such weaknesses, we plan to implement the following changes in the current fiscal year as resources allow:

	(i)	appoint additional qualified personnel to address inadequate segregation of duties and implement modifications to our financial controls to address such inadequacies;

	(ii)	adopt a written whistleblower policy and code of ethics; and

	(iii)	appoint an independent board of directors, including board committees related to financial controls and reporting.

The remediation efforts set out herein will be implemented in the 2024 fiscal year. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues, if any, within our company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty and that breakdowns can occur because of simple error or mistake.

Management believes that despite our material weaknesses set forth above, our financial statements for the three month period ended October 31, 2023 are fairly stated, in all material respects, in accordance with U.S. GAAP.

Changes in Internal Control Over Financial Reporting

There were no changes to our internal control over financial reporting during the three month period ended October 31, 2023.

Table of Contents

PART II – OTHER INFORMATION

ITEM 1 – LEGAL PROCEEDINGS

To the best of the Company’s knowledge and belief, no legal proceedings are currently pending or threatened.

ITEM 1A. – RISK FACTORS

We are not required to provide this information as we are a Smaller Reporting Company.

ITEM 2 – UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

There were no unregistered sales of equity securities during this quarter.

ITEM 3 – DEFAULTS UPON SENIOR SECURITIES

There are no defaults upon any senior securities.

ITEM 4 – MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5 – OTHER INFORMATION

None.

Table of Contents

ITEM 6 – EXHIBITS

31.1		Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for Edward A. Barth.
31.2		Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for Suzanne I. Barth.
32		Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 for Edward A. Barth. and Suzanne I. Barth.
101.INS*		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data file because its XBRL tags are embedded within the Inline XBRL document)
101.SCH*		Inline XBRL Taxonomy Schema
101.CAL*		Inline XBRL Taxonomy Calculation Linkbase
101.DEF*		Inline XBRL Taxonomy Definition Linkbase
101.LAB*		Inline XBRL Taxonomy Label Linkbase
101.PRE*		Inline XBRL Taxonomy Presentation Linkbase
104*		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

_______

Furnished herewith. XBRL (eXtensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

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, thereunto duly authorized.

	CONCRETE LEVELING SYSTEMS, INC.

Date: December 12, 2023	By:	/s/ Edward A. Barth
		Edward A. Barth Principal Executive Officer

Date: December 12, 2023	By:	/s/ Suzanne I. Barth
		Suzanne I. Barth Principal Financial Officer

nullnullnull

Cover - shares	3 Months Ended
Cover - shares	Oct. 31, 2023	Nov. 29, 2023
Cover [Abstract]
Entity Registrant Name	Concrete Leveling Systems, Inc.
Entity Central Index Key	0001414382
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--07-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Oct. 31, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		14,027,834
Entity File Number	000-53048
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	26-0851977
Entity Address Address Line 1	5046 E. Boulevard
Entity Address Address Line 2	NW
Entity Address City Or Town	Canton
Entity Address State Or Province	OH
Entity Address Postal Zip Code	44718
City Area Code	330
Local Phone Number	966-8120
Security 12b Title	Common Stock
Trading Symbol	CLEV
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Balance Sheets - USD ($)	Oct. 31, 2023	Jul. 31, 2023
Current Assets
Cash	$ 748	$ 682
Inventory	23,803	23,862
Prepaid expenses	0	900
Total Current Assets	24,551	25,444
Property, Plant and Equipment
Equipment	700	700
Less: Accumulated depreciation	(700)	(700)
Total Property, Plant and Equipment	0	0
Total Assets	24,551	25,444
Current Liabilities
Accounts payable and accrued expenses	28,368	25,403
Accrued interest - stockholders	40,655	38,404
Advances - stockholders	289,019	268,944
Notes payable - stockholders	186,967	186,967
Total Current Liabilities	545,009	519,718
Stockholders' Deficit
Common stock (par value $0.001) 100,000,000 shares authorized: 14,027,834 shares issued and outstanding	14,027	14,027
Additional paid-in capital	433,209	433,209
Accumulated deficit	(967,694)	(941,510)
Total Stockholders' Deficit	(520,458)	(494,274)
Total Liabilities and Stockholders' Deficit	$ 24,551	$ 25,444

Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2023	Jul. 31, 2023
Stockholders' Deficit
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	14,027,834	14,027,834
Common stock, shares outstanding	14,027,834	14,027,834

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
Statements of Operations (Unaudited) - USD ($)	Oct. 31, 2023	Oct. 31, 2022
Statements of Operations (Unaudited)
Equipment and parts sales	$ 175	$ 200
Cost of sales	59	82
Gross margin	116	118
Operating expenses
Legal and professional fees	20,976	16,150
Selling, general and administration	2,723	2,270
Total operating expenses	23,699	18,420
Loss from Operations	(23,583)	(18,302)
Other income (expense)
Interest expense	(2,601)	(2,536)
Total other expense	(2,601)	(2,536)
Net loss before income taxes	(26,184)	(20,838)
Provision for Income Taxes	0	0
Net loss	$ (26,184)	$ (20,838)
Net loss per share - basic and fully diluted	$ (0.00)	$ (0.00)
Weighted average number of common shares outstanding - basic and fully diluted	14,027,834	14,027,834

Statements of Stockholders' Deficit (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)
Balance, shares at Jul. 31, 2022		14,027,834
Balance, amount at Jul. 31, 2022	$ (440,544)	$ 14,027	$ 433,209	$ (887,780)
Net loss	(20,838)	$ 0	0	(20,838)
Balance, shares at Oct. 31, 2022		14,027,834
Balance, amount at Oct. 31, 2022	(461,382)	$ 14,027	433,209	(908,618)
Balance, shares at Jul. 31, 2023		14,027,834
Balance, amount at Jul. 31, 2023	(494,274)	$ 14,027	433,209	(941,510)
Net loss	(26,184)	$ 0	0	(26,184)
Balance, shares at Oct. 31, 2023		14,027,834
Balance, amount at Oct. 31, 2023	$ (520,458)	$ 14,027	$ 433,209	$ (967,694)

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
Statements of Cash Flows (Unaudited) - USD ($)	Oct. 31, 2023	Oct. 31, 2022
Cash Flows from Operating Activities
Net loss	$ (26,184)	$ (20,838)
Adjustments to reconcile net loss to net cash used in operating activities:
Inventory	59	82
Prepaid expenses	900	607
Accounts payable and accrued expenses	2,965	402
Accrued interest - stockholders	2,251	2,252
Net cash from operating activities	(20,009)	(17,495)
Cash Flows from Financing Activities
Advances from stockholders	20,075	17,248
Net cash from financing activities	20,075	17,248
Change in cash	66	(247)
Cash - beginning	682	747
Cash - ending	748	500
Supplemental Disclosure of Cash Flows Information
Cash paid for interest	350	284
Cash paid for income taxes	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Oct. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

The Company manufactures for sale specialized equipment for use in the concrete leveling industry. The Company’s product is sold primarily to end users.

Principal Services

If the transaction with Jericho finalizes, the Company will operate two business divisions, which will be operated simultaneously and consist of the following:

Basis of Presentation

The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is July 31.

Revenue Recognition

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Advertising and Marketing

Advertising and marketing costs are charged to operations when incurred. Advertising costs were $0 for the three months ended October 31, 2023 and 2022.

Inventory

Use of Estimates

Property, Plant, and Equipment

Property, plant, and equipment are recorded at cost. Depreciation is provided for by using the straight-line method over the estimated useful lives of the respective assets.

Income taxes

Going Concern

INCOME TAXES

3 Months Ended

Oct. 31, 2023

INCOME TAXES

INCOME TAXES

NOTE 2 - INCOME TAXES

As of October 31, 2023, the Company had net operating loss carry forwards of approximately $783,790 that may be available to reduce future years’ taxable income in varying amounts through 2041.

Management has evaluated tax positions in accordance with FASB ASC 740, Income Taxes, and has not identified any significant tax positions, other than those disclosed.

Income taxes on continuing operations include the following:

	October 31, 2023		July 31, 2023

Currently payable	$	-0-	$	-0-
Deferred		-0-		-0-

Total	$	-0-	$	-0-

A reconciliation of the effective tax rate with the statutory U.S. income tax rate is as follows:

	October 31, 2023						October 31, 2022
	Income			% of Pretax Amount			Income			% of Pretax Amount

Income taxes per statement of operations	$	-0-			0	%	$	-0-			0	%

Loss for financial reporting purposes without tax expense or benefit		(5,000	)		(21	)		(3,900	)		(21	)
Income taxes at statutory rate	$	(5,000	)		(21	)%	$	(3,900	)		(21	)%

The components of and changes in the net deferred taxes were as follows:

Deferred tax assets:

	October 31, 2023			July 31, 2023

Net operating loss carryforwards	$	164,600		$	159,600
Compensation and miscellaneous		8,500			8,100
Deferred tax assets		173,100			167,700
Valuation Allowance		(173,100	)		(167,700	)
Net deferred tax assets:	$	-0-		$	-0-

Tax periods ended July 31, 2018 through 2023 are subject to examination by major taxing authorities.

RELATED PARTIES

3 Months Ended

Oct. 31, 2023

RELATED PARTIES

RELATED PARTIES

NOTE 3 - RELATED PARTIES

The Company uses warehouse and office space belonging to one of its stockholders. The stockholder does not charge the Company rent or other fees for the use of these facilities.

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Oct. 31, 2023

Commitments and Contingencies (Note 4)

COMMITMENTS AND CONTINGENCIES

NOTE 4 – COMMITMENTS AND CONTINGENCIES

SUBSEQUENT EVENTS

3 Months Ended

Oct. 31, 2023

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 5 - SUBSEQUENT EVENTS

The Company has evaluated all subsequent events through December 13, 2023, the date the financial statements were available to be issued. There are no subsequent events to report.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Oct. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations	The Company manufactures for sale specialized equipment for use in the concrete leveling industry. The Company’s product is sold primarily to end users. On March 24, 2017, the Company entered into an agreement with Jericho Associates, Inc. (“Jericho”), a start-up company which plans to operate in the gaming, hospitality and entertainment industries. The Company issued Jericho 7,151,416 shares of the Company’s common stock, subject to a performance requirement, which provides that by March 1, 2018, if the management of Jericho does not identify at least one entity or business opportunity for acquisition, in order to supplement the Company’s current business operations, the shares issued as part of the agreement shall be returned to the Company. In July 2017, an additional 481,000 shares were issued to shareholders of Jericho under the same contingencies as the original shares. On February 25, 2018, Jericho identified the acquisition of 50% interests in two LLCs (the “LLCs”). The LLCs have a Term Sheet agreement to develop a casino and hotel resort, and provide certain gaming equipment on a shared profit basis (the “Project”). The Project is in the process of regulatory review, finalization of closing documents, and completion of financing. Notwithstanding the identification of the business opportunity, the shares issued to Jericho remain contingent upon the regulatory review, the finalization of closing documentation, and the completion of financing arrangements for the project. Also, upon the regulatory review, the finalization of closing documentation, and the completion of financing arrangements for the project, the Company’s President will cancel all shares of common stock held (879,167 shares as of October 31, 2023), the Company’s Chief Executive Officer will cancel all but 550,000 shares of common stock held (2,951,667 shares as of October 31, 2023), subject to an 18-month non-dilution right in order to maintain an ownership percentage of 4.99%, and the Company’s Secretary will cancel all but 45,000 shares of common stock held (185,000 shares as of October 31, 2023). Prior to the August 13, 2018 amendment to the agreement with Jericho, the Chief Executive Officer would cancel all but 523,000 shares of her common stock, subject to an 18-month non-dilution right in order to maintain an ownership percentage of 4.99%. The amendment provided that the Chief Executive Officer would retain an additional 27,000 shares of common stock and the non-dilution right was eliminated.
Principal Services	If the transaction with Jericho finalizes, the Company will operate two business divisions, which will be operated simultaneously and consist of the following: The concrete leveling division of the business will fabricate and market a concrete leveling service unit utilized in the concrete leveling industry. This unit secures to the back of a truck and consists of a mixing device to mix lime with water and a pumping device capable of pumping the mixture under pressure into pre-drilled holes in order to raise the level of any flat concrete surface. The gaming and hospitality division of the business will focus on casino gaming, hospitality, entertainment and leisure time industries, and will pursue opportunities in the tribal and commercial casino gaming industries, both in California and Nevada. The Company will also operate in the casino gaming technology industry, and is seeking opportunities to partner, joint venture, or acquire companies developing casino games that combine traditional casino games with the challenge of video games and the playability of social games, meaning games that pit the player’s skill against the skill of another player as opposed to the casino itself.
Basis of Presentation	The accompanying financial statements have been prepared in accordance with GAAP. The Company’s year-end is July 31.
Revenue Recognition	The Company recognizes revenue in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, “Revenue from contracts with customers”. Revenue is recognized when a customer obtains control of the promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount; (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each 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 or services it transfers to the customer. Once a contract is determined to be within the scope of FASB ASC Topic 606 at contract inception, the Company reviews the contract to determine which performance obligation the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery.
Cash and Cash Equivalents	The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Advertising and Marketing	Advertising and marketing costs are charged to operations when incurred. Advertising costs were $0 for the three months ended October 31, 2023 and 2022.
Inventory	Inventories, which consist of parts and work in progress, are recorded at the lower of first-in first-out cost or net realizable value (estimated selling price less costs of completion, disposal and transportation). When an impairment suggests that the carrying amounts of inventories might not be recoverable, the Company reviews such carrying amounts and estimates the net realizable value based on the most reliable evidence available at that time. An impairment loss is recorded if the net realizable value is less than the carrying value. Impairment indicators considered for these purposes are, among others, obsolescence, decrease in market prices, damage and a firm commitment to sell.
Use of Estimates	The preparation of the financial statements in conformity with GAAP 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 period. Actual results could differ from those estimates.
Property, Plant, and Equipment	Property, plant, and equipment are recorded at cost. Depreciation is provided for by using the straight-line method over the estimated useful lives of the respective assets. Maintenance and repairs are charged to expense as incurred. Major additions and betterments are capitalized. When items of property and equipment are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the determination of net income.
Income taxes	Concrete Leveling Systems, Inc. recognizes deferred income tax assets and liabilities for the expected future tax consequences of temporary differences between the income tax and financial reporting carrying amount of the Company’s assets and liabilities. The Company monitors its deferred tax assets and evaluates the need for a valuation allowance based on the estimate of the amount of such deferred tax assets that it believes does not meet the more-likely-than-not recognition criteria. The Company also evaluates whether it has any uncertain tax positions and would record a reserve if management believes it is more likely than not their position would not prevail with the applicable tax authorities. The Company’s assessment of tax positions as of October 31, 2023 and July 31, 2023, determined that there were no material uncertain tax positions.
Going Concern	The Company has sustained substantial operating losses since its inception. In addition, the Company has used substantial amounts of working capital in its operations. Further, at October 31, 2023, current liabilities exceed current assets by $520,458, and total liabilities exceed total assets by $520,458. Success will be dependent upon management’s ability to obtain future financing and liquidity, and success of its future operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

INCOME TAXES (Tables)

3 Months Ended

Oct. 31, 2023

INCOME TAXES

Schedule of income taxes on continuing operations

	October 31, 2023		July 31, 2023

Currently payable	$	-0-	$	-0-
Deferred		-0-		-0-

Total	$	-0-	$	-0-

Schedule of reconciliation of the effective tax rate with the statutory U.S. income tax

	October 31, 2023						October 31, 2022
	Income			% of Pretax Amount			Income			% of Pretax Amount

Income taxes per statement of operations	$	-0-			0	%	$	-0-			0	%

Loss for financial reporting purposes without tax expense or benefit		(5,000	)		(21	)		(3,900	)		(21	)
Income taxes at statutory rate	$	(5,000	)		(21	)%	$	(3,900	)		(21	)%

Schedule of components of and changes in the net deferred taxes

	October 31, 2023			July 31, 2023

Net operating loss carryforwards	$	164,600		$	159,600
Compensation and miscellaneous		8,500			8,100
Deferred tax assets		173,100			167,700
Valuation Allowance		(173,100	)		(167,700	)
Net deferred tax assets:	$	-0-		$	-0-

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
	Aug. 13, 2018	Feb. 25, 2018	Oct. 31, 2023	Oct. 31, 2022	Jul. 31, 2023	Jul. 31, 2022	Jul. 31, 2017	Mar. 24, 2017
Advertising and Marketing costs			$ 0	$ 0
Common stock shares issued			14,027,834		14,027,834
Stockholders' Equity Attributable to Parent			$ (520,458)	$ (461,382)	$ (494,274)	$ (440,544)
Chief Executive Officer [Member]
Common stock shares held			2,951,667
Retain additional shares of common stock			27,000
Business acquisition, remaining common stock held, number of shares	523,000		550,000
Non-dilution right period	18 months		18 months
Ownership percentage	4.99%		4.99%
Chief Executive Officer [Member] \| Common Stock
Stockholders' Equity Attributable to Parent			$ 520,458
Secretary [Member]
Common stock shares held			185,000
Business acquisition, remaining common stock held, number of shares			45,000
President [Member]
Common stock shares held			879,167				481,000
Jericho Associates, Inc
Business acquisition interest in two LIC		50.00%
Common stock shares issued								7,151,416

INCOME TAXES (Details) - USD ($)	3 Months Ended		12 Months Ended
INCOME TAXES (Details) - USD ($)	Oct. 31, 2023	Oct. 31, 2022	Jul. 31, 2023
INCOME TAXES
Currently payable	$ 0		$ 0
Deferred	0		0
Total	$ 0	$ 0	$ 0

INCOME TAXES (Details 1) - USD ($)	3 Months Ended
INCOME TAXES (Details 1) - USD ($)	Oct. 31, 2023	Oct. 31, 2022
INCOME TAXES
Income taxes per statement of operations	$ 0	$ 0
Loss for financial reporting purposes without tax expense or benefit	(5,000)	(3,900)
Income taxes at statutory rate	$ (5,000)	$ (3,900)
Income taxes per statement of operations (% of Pretax Amount)	0.00%	0.00%
Loss for financial reporting purposes without tax expense or benefit (% of Pretax Amount)	(21.00%)	(21.00%)
Income taxes at statutory rate (% of Pretax Amount)	(21.00%)	(21.00%)

INCOME TAXES (Details 2) - USD ($)	Oct. 31, 2023	Jul. 31, 2023
Deferred tax assets:
Net operating loss carryforwards	$ 164,600	$ 159,600
Compensation and miscellaneous	8,500	8,100
Deferred tax assets	173,100	167,700
Valuation Allowance	(173,100)	167,700
Net deferred tax assets:	$ 0	$ 0

INCOME TAXES (Details Narrative)	3 Months Ended
INCOME TAXES (Details Narrative)	Oct. 31, 2023 USD ($)
INCOME TAXES
Net operating loss carry forwards	$ 783,790
Income tax expiration future years	varying amounts through 2041

RELATED PARTIES (Details Narrative) - USD ($)	1 Months Ended	24 Months Ended
RELATED PARTIES (Details Narrative) - USD ($)	Dec. 31, 2020	Jul. 31, 2012	Oct. 31, 2023	Jul. 31, 2023
Notes payable - stockholders			$ 186,967	$ 186,967
Accrued interest			40,655	38,404
Stockholders [Member] \| Minimum [Member]
Loan carry interest rate		8.00%
Stockholders [Member] \| Maximum [Member]
Loan carry interest rate		12.00%
July 31, 2010 through 2012 [Member] \| Stockholders [Member]
Notes payable - stockholders			62,750	62,750
Accrued interest			15,139	15,139
Proceeds from related party loan		$ 62,750
Between November 2012 and December 2020 [Member] \| Stockholders [Member]
Accrued interest			$ 25,516	23,265
Interest rate			7.25%
Advances - stockholders				124,217
Proceeds from related party loan	$ 124,817
Between October 31, 2023 And July 2023 [Member] \| Stockholders [Member]
Advances - stockholders			$ 128,017	127,467
Between August 2018 And October 2023 [Member] \| Stockholders [Member]
Advances - stockholders			$ 285,219	$ 265,694