UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

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

For the quarterly period ended ~~October~~January 31, ~~2023~~2024

☐ TRANSACTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File No. 333-213698

BRILLIANT N.E.V. CORP.

(Exact name of registrant as specified in its charter)

Nevada		30-0944559
(State or other jurisdiction of		(I.R.S. employer
incorporation or formation)		Identification No.)

Room 805, West Building 4, Xintiandi Business Center,

Gongshu District, Hangzhou City, Zhejiang Province, China 95035

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: +86-189-1098-4577

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

None

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

None

Indicate by check mark whether the registrant (1) has 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. 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,” “non-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 ☐

As of ~~December~~March 8, ~~2023~~2024, there were 153,105,464 shares of Common Stock, $0.001 par value per share, outstanding.

Table of Contents

PART I – FINANCIAL INFORMATION

BRILLIANT N.E.V CORP. (FORMERLY CLANCY CORP.)

INDEX TO FINANCIAL STATEMENTS

	Page Number
BALANCE SHEETS	F-1
CONSOLIDATED BALANCE SHEETS	F-1
STATEMENTS OF OPERATIONS	F-2
CONSOLIDATED STATEMENTS OF OPERATIONS	F-2
STATEMENT OF CHANGES IN STOCKHOLDERS’ DEFICIT	F-3
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT	F-3
STATEMENT OF CASH FLOWS	F-4
COINSOLIDATED STATEMENT OF CASH FLOWS	F-4
NOTES TO THE FINANCIAL STATEMENTS	F-5 to F-9
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS	F-5 to F-9

-1-

Table of Contents

~~Item 1.~~Part ~~Financial~~I ~~Statements~~ – FINANCIAL INFORMATION

~~BRILLIANT N.E.V.~~Item ~~CORP~~1. Financial Statements

~~BALANCE SHEETS~~BRILLIANT N.E.V CORP. (FORMERLY CLANCY CORP.)

ASSETS	October 31, 2023			July 31, 2023
				(Audited)
CURRENT ASSETS:
Cash and cash equivalents	$	12,167		$	1,302
Prepaid expenses		—			—
Total current assets		12,167			1,302
TOTAL ASSETS	$	12,167		$	1,302
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES:
Accounts payable	$	7,003		$	2,321
Advances - related party		23,782			4,382
TOTAL CURRENT LIABILITIES		30,785			6,703
TOTAL LIABILITIES		30,785			6,703
Commitments and Contingencies		—			—
STOCKHOLDERS’ DEFICIT
Common Stock, 0.001 par value, authorized 345,000,000 shares, 153,105,464 shares issued and outstanding as of October 31, 2023 and July 31, 2023		153,105			153,105
Additional paid in capital		114,333			114,333
Accumulated other comprehensive income (loss)		—			—
Accumulated deficit		(286,055	)		(272,839	)
TOTAL STOCKHOLDERS’ DEFICIT		(18,617	)		(5,401	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	12,167		$	1,302

BALANCE SHEETS

See accompanying notes to the financial statements.


ASSETS	January 31, 2024			July 31, 2023
				(Audited)
CURRENT ASSETS:
Cash and cash equivalents	$	4,830		$	1,302
Prepaid expenses		180			-
Total current assets		5,010			1,302

TOTAL ASSETS	$	5,010		$	1,302

LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Accounts payable	$	4,000		$	2,321
Advances - related party		32,645			4,382
TOTAL CURRENT LIABILITIES		36,645			6,703

TOTAL LIABILITIES		36,645			6,703

Commitments and Contingencies		-			-

STOCKHOLDERS' DEFICIT
Common Stock, 0.001 par value, authorized 345,000,000 shares, 153,105,464 shares issued and outstanding as of January 31, 2024 and July 31, 2023		153,105			153,105
Additional paid in capital		114,333			114,333
Accumulated other comprehensive income (loss)		-			-
Accumulated deficit		(299,073	)		(272,839	)
TOTAL STOCKHOLDERS' DEFICIT		(31,635	)		(5,401	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	5,010		$	1,302

~~F-1~~See accompanying notes to the consolidated financial statements.

~~Table of Contents~~F-1

~~BRILLIANT N.E.V~~Table ~~CORP.~~of Contents

~~STATEMENTS OF~~BRILLIANT ~~OPERATIONS~~N.E.V CORP. (FORMERLY CLANCY CORP.)

	For the three months ended Oct 31,
	2023			2022 (Consolidated)
Revenues	$	—		$	—
Cost of goods sold		—			—
Gross profit (loss)		—			—
EXPENSES
Professional fees		12,230			22,000
General and administrative Expenses		987			4,898
TOTAL OPERATING EXPENSES		13,216			26,898
LOSS FROM CONTINUING OPERATIONS		(13,216	)		(26,898	)
LOSS FROM DISCONTINUED OPERATIONS		—			(66,325	)
Net loss before tax		(13,216	)		(93,223	)
Provision for income taxes		—			—
NET LOSS	$	(13,216	)	$	(93,223	)
OTHER COMPREHENSIVE ITEM
Foreign currency translation gain (loss)		—			23,155
COMPREHENSIVE LOSS	$	(13,216	)	$	(70,068	)
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - BASIC & DILUTED	$	(0.00	)	$	(0.00	)
NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - BASIC & DILUTED	$	(0.00	)	$	(0.00	)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC & DILUTED		153,105,464			153,105,464

STATEMENTS OF OPERATIONS

See accompanying notes to the financial statements.


	For six months ended Jan 31,						For the three months ended Jan 31,
	2024			2023 (Consolidated)			2024			2023 (Consolidated)
Revenues	$	-		$	-		$	-		$	-
Cost of goods sold		-			-			-			-
Gross profit (loss)		-			-			-			-

EXPENSES
Professional fees		23,230			25,200			11,000			3,200
General and administrative Expenses		3,005			4,820			2,018			(78	)
TOTAL OPERATING EXPENSES		26,235			30,020			13,018			3,122

LOSS FROM CONTINUING OPERATIONS		(26,235	)		(30,020	)		(13,018	)		(3,122	)
LOSS FROM DISCONTINUED OPERATIONS		-			(133,048	)		-			(66,723	)
Net loss before tax		(26,235	)		(163,068	)		(13,018	)		(69,845	)
Provision for income taxes		-			-			-			-
NET LOSS	$	(26,235	)	$	(163,068	)		(13,018	)	$	(69,845	)
OTHER COMPREHENSIVE ITEM
Foreign currency translation gain (loss)		-			(4,039	)		-			(27,194	)
COMPREHENSIVE LOSS	$	(26,235	)	$	(167,107	)	$	(13,018	)	$	(97,039	)
NET LOSS PER COMMON SHARE FROM CONTINUING OPERATIONS - BASIC & DILUTED	$	(0.00	)	$	-		$	(0.00	)	$	-

NET LOSS PER COMMON SHARE FROM DISCONTINUED OPERATIONS - BASIC & DILUTED	$	-		$	(0.00	)	$	-		$	(0.00	)

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC & DILUTED		153,105,464			153,105,464			153,105,464			153,105,464

~~F-2~~See accompanying notes to the consolidated financial statements.

~~Table of Contents~~F-2

~~BRILLIANT N.E.V~~Table ~~CORP.~~of Contents

~~STATEMENTS OF~~BRILLIANT ~~CHANGES~~N.E.V INCORP. ~~SHAREHOLDERS’~~(FORMERLY ~~DEFICIT~~CLANCY CORP.)

~~For the~~STATEMENTS ~~three~~OF ~~months~~CHANGES ~~ended~~IN ~~October~~SHAREHOLDERS' ~~31, 2023 and 2022~~DEFICIT

							Accumulated
					Additional		Other
	Common Stock				Paid in		Comprehensive		Accumulated
	Shares		Amount		Capital		Income(Loss)		Deficit			TOTAL
Balance, July 31, 2023		153,105,464	$	153,105	$	114,333	$	—	$	(272,839	)	$	(5,401	)
Net Loss		—		—		—		—		(13,216	)		(13,216	)
Balance, October 31, 2023		153,105,464	$	153,105	$	114,333	$	—	$	(286,055	)	$	(18,617	)
(Consolidated)
Balance, July 31, 2022		153,105,464	$	153,105	$	213,251	$	12,058	$	(876,571	)	$	(498,157	)
Currency translation		—		—		—		23,155		—			23,155
Net loss – discontinued operations		—		—		—		—		(66,325	)		(66,325	)
Net loss – continuing operations		—		—		—		—		(26,898	)		(26,898	)
Balance, October 31, 2022		153,105,464	$	153,105	$	213,251	$	35,213	$	(969,794	)	$	(568,225	)

For the three and six months ended January 31, 2024 and 2023

See accompanying notes to the financial statements.


							Accumulated
					Additional		Other
	Common Stock				Paid in		Comprehensive			Accumulated
		Shares	Amount		Capital		Income(Loss)			Deficit			TOTAL
Balance, July 31, 2023		153,105,464	$	153,105	$	114,333	$	-		$	(272,839	)	$	(5,401	)

Net Loss		-		-		-		-			(13,216	)		(13,216	)
Balance, October 31, 2023		153,105,464	$	153,105	$	114,333	$	-		$	(286,055	)	$	(18,617	)

Net Loss		-		-		-		-			(13,018	)		(13,018	)
Balance, January 31, 2024		153,105,464	$	153,105	$	114,333	$	-		$	299,073		$	(31,635	)
(Consolidated)
Balance, July 31, 2022		153,105,464	$	153,105	$	213,251	$	12,058		$	(876,571	)	$	(498,157	)
Currency translation								23,155						23,155
Net loss – discontinued operations		-		-		-		-			(66,325	)		(66,325	)
Net loss – continuing operations		-		-		-		-			(26,898	)		(26,898	)
Balance, October 31, 2022		153,105,464	$	153,105	$	213,251	$	35,213		$	(969,794	)	$	(568,225	)
Currency translation								(27,194	)					(27,194	)
Net loss – discontinued operations				-		-		-			(66,723	)		(66,723	)
Net loss – continuing operations				-		-		-			(3,122	)		(3,122	)
Balance, January 31, 2023		153,105,464	$	153,105	$	213,251	$	8,019		$	(1,039,639	)	$	(665,264	)

~~F-3~~See accompanying notes to the consolidated financial statements.

~~Table of Contents~~F-3

~~BRILLIANT N.E.V~~Table ~~CORP.~~of Contents

~~STATEMENTS OF~~BRILLIANT ~~CASH~~N.E.V ~~FLOWS~~CORP. (FORMERLY CLANCY CORP.)

	For the three months ended Oct 31,
	2023			2022
OPERATING ACTIVITIES				(Consolidated)
Net loss from continuing operations	$	(13,216	)	$	(26,898	)
Net loss from discontinued operations		—			(66,325	)
Adjustments to reconcile net cash used in operating activities:
Right-of-use/lease liability adjustments		—			1,620
Decrease in assets:
Change in prepaid expenses		—			212
Increase in liabilities:
Accounts payable		4,682			8,508
Increase in discontinued operations		—			13,606
Net cash provided (used) in continuing operation activities		(8,534	)		(16,558	)
Net cash provided (used) in discontinued operation activities		—			(52,719	)
FINANCING ACTIVITIES:
Advances (debt adjustment)from related party - continuing operation		19,400			20,085
Advances from related party - discontinued operation		—			49,605
Total Net Cash Provided (used) by Financing Activities		19,400			69,690
EFFECT OF EXCHANGE RATE CHANGE ON CASH		—			(1,038	)
NET INCREASE (DECREASE) IN CASH		10,866			(625	)
CASH AT BEGINNING OF YEAR		1,302			19,511
CASH AT END OF THE PERIOD		12,167			18,887
CASH AT END OF THE PERIOD – CONTINNUING OPERATIONS		12,167			4,962
CASH AT END OF THE PERIOD – DISCONTINUED OPERATIONS	$	—		$	13,925
Supplemental Cash flow Information:
Interest Paid	$	—		$	—
Taxes Paid	$	—		$	—
Supplemental Disclosure of Non Cash Lease Activity:
Recognition of Right of use asset	$	—		$	—
Recognition of Lease liability	$	—		$	—

STATEMENTS OF CASH FLOWS

See accompanying notes to the financial statements.


	For the six months ended January 31,
	2024			2023
				(Consolidated)
OPERATING ACTIVITIES
Net loss from continuing operations	$	(26,235	)	$	(30,020	)
Net loss from discontinued operations		-			(133,049	)
Adjustments to reconcile net cash used in operating activities:
Right-of-use/lease liability adjustments		-			1,620
Decrease in assets:
Change in prepaid expenses		(180	)		(1,018	)
Changes in deposit		-			-
Increase in liabilities:
Accounts payable		1,679			-
Increase in discontinued operations		-			26,660
Net cash provided (used) in continuing operation activities		(24,735	)		(29,418	)
Net cash provided (used) in discontinued operation activities		-			(106,389	)

FINANCING ACTIVITIES:
Advances (debt adjustment)from related party - continuing operation		28,263			40,085
Advances from related party - discontinued operation		-			121,229

Total Net Cash Provided (used) by Financing Activities		28,263			161,314

EFFECT OF EXCHANGE RATE CHANGE ON CASH		-			507

NET INCREASE (DECREASE) IN CASH		3,528			26,014

CASH AT BEGINNING OF PERIOD		1,302			19,511
CASH AT END OF THE PERIOD		4,830			45,525
CASH AT END OF THE PERIOD – CONTINNUING OPERATIONS	$	4,830		$	12,102
CASH AT END OF THE PERIOD – DISCONTINUED OPERATIONS	$	-		$	33,423

Supplemental Cash flow Information:
Interest Paid	$	—		$	—
Taxes Paid	$	—		$	—

Supplemental Disclosure of Non Cash Lease Activity:
Recognition of Right of use asset	$	—		$	-
Recognition of Lease liability	$	—		$	-

~~F-4~~See accompanying notes to the consolidated financial statements.

~~Table of Contents~~F-4

~~BRILLIANT N.E.V~~Table ~~CORP.~~of Contents

~~NOTES TO~~BRILLIANT ~~THE~~N.E.V ~~FINANCIAL~~CORP. ~~STATEMENTS~~(FORMERLY CLANCY CORP.)

~~JULY 31,~~NOTES ~~2023~~TO THE CONSOLIDATED FINANCIAL STATEMENTS

~~NOTE 1 – ORGANIZATION~~JULY ~~AND~~31, ~~NATURE OF BUSINESS~~2023

~~Brilliant N.E.V.~~NOTE ~~Corp.~~1 – ORGANIZATION ~~(“Company”)~~AND ~~was~~NATURE ~~incorporated~~OF on March 22, 2016 under the laws of the State of Nevada, USA. The Company initially was formed for the purpose of producing and selling handcrafted soaps. Except where content requires, the Company includes its subsidiaries.BUSINESS

Brilliant N.E.V. Corp. ~~registered~~(formerly aClancy ~~wholly~~Corp.) ~~foreign-owned~~(“Company”) was ~~entity~~incorporated inon ~~Shanghai~~March 22, ~~China~~2016 onunder ~~April~~the ~~13,~~laws ~~2020~~of ~~named~~the ~~Shanghai~~State ~~Clancy~~of ~~Enterprise Management Co.~~Nevada, ~~Ltd~~USA. ~~(Shanghai~~The ~~Clancy).~~Company ~~Shanghai~~initially ~~Clancy~~was ~~registered~~formed afor ~~wholly-owned~~the ~~subsidiary~~purpose inof ~~Beijing on~~producing ~~April~~and ~~24,~~selling ~~2020.~~handcrafted ~~Its name is Beijing Clancy Information Technology Co~~soaps., ~~Ltd.~~Except ~~(Beijing~~where ~~Clancy).~~content ~~The main business scope is technology development~~requires, ~~transfer,~~the ~~consultation,~~Company ~~services~~includes ~~and~~its ~~promotion~~subsidiaries.

~~From August~~Brilliant 1,N.E.V. ~~2020~~Corp. to(formerly ~~April~~Clancy ~~30,~~Corp.) ~~2021,~~registered ~~the Company business centered on providing IT services to~~ a ~~small~~wholly foreign-owned ~~number~~entity ~~of clients. Beginning~~ in ~~May 2021~~Shanghai, ~~the~~China ~~Company~~on ~~terminated~~April ~~its~~13, IT2020 ~~services~~named ~~and~~Shanghai ~~re-focused~~Clancy ~~its~~Enterprise ~~business~~Management ~~operations~~Co., toLtd. ~~providing~~(Shanghai ~~business~~Clancy). ~~consulting services to small~~Shanghai ~~and~~Clancy ~~median~~registered ~~sized~~a ~~businesses.~~wholly-owned ~~Management~~subsidiary ~~believes~~in ~~their~~Beijing ~~prior~~on ~~business~~April ~~experience~~24, ~~will~~2020. ~~enable~~Its ~~them~~name tois ~~assist~~Beijing ~~small~~Clancy ~~and~~Information ~~medium~~Technology ~~sized~~Co., ~~companies~~Ltd. ~~improve~~(Beijing ~~their operating efficiencies~~Clancy). The ~~Company~~main ~~will~~business ~~charge~~scope ~~its~~is ~~clients~~technology ~~based~~development, ontransfer, ~~their~~consultation, ~~performance.~~services ~~Management believes the new business model will reduce internal overhead costs~~ and ~~potentially provide a larger market for its services~~promotion.

~~In June~~From ~~2023~~August 1, 2020 to April 30, 2021, the Company’s business ~~former~~centered ~~major~~on ~~shareholder~~providing ~~and~~IT ~~sole~~services ~~director~~to ~~Mr.~~a ~~Xiangying~~small ~~Meng~~number ~~and~~of ~~other~~clients. ~~shareholders~~Beginning in May 2021, ~~entered~~the ~~into~~Company aterminated ~~stock~~its ~~purchase~~IT services ~~agreement~~and ~~(SPA)~~re-focused ~~with~~its ~~Mr.~~business ~~Guangzhe~~operations ~~Su.~~to ~~Pursuant~~providing business consulting services to ~~the~~small ~~SPA,~~and Mrmedian sized businesses. ~~Guangzhe~~Management Subelieves their ~~became~~prior ~~the~~business ~~major~~experience ~~shareholder~~will enable them to assist small and ~~the~~medium sized companies improve their operating efficiencies. The Company’s ~~CEO~~will charge its clients based on their performance. ~~Due~~Management to believes the ~~ownership~~new ~~change~~business ~~and~~model ~~pursuant~~will toreduce ~~the~~internal ~~SPA,~~overhead ~~the~~costs and ~~Company~~potentially ~~ceased~~provide ~~the~~a ~~operations~~larger ofmarket for its ~~China subsidiaries~~services.

~~On July~~In ~~28,~~June 2023, the Company's ~~changed~~former ~~its~~major ~~name~~shareholder and ~~from~~sole ~~Clancy~~director ~~Corp~~Mr. toXiangying ~~Brilliant~~Meng ~~N.E.V.~~and ~~Corp.~~other ~~The~~shareholders, ~~Company~~entered ~~amended~~into ~~its~~a ~~Articles~~stock ofpurchase ~~Incorporation with~~agreement ~~the~~(SPA) ~~Nevada~~with ~~Secretary~~Mr. ofGuangzhe ~~State~~Su. Pursuant to ~~effect~~ the ~~name~~SPA, ~~change~~Mr. ItGuangzhe ~~also~~Su ~~has~~became ~~filed~~the anmajor ~~Issuer~~shareholder ~~Company-Related~~and ~~Action~~the ~~Notification~~Company's ~~Form~~CEO. ~~with FINRA~~Due to ~~reflect~~ the ~~name~~ownership change and ~~applied~~pursuant ~~for~~to athe ~~new~~SPA, ~~stock~~the Company ~~symbol~~ceased the operations of its China subsidiaries.

In ~~October~~ July 2023, ~~the~~based ~~Company,~~on ~~Shanghai~~the ~~Clancy,~~majority ~~and~~shareholders' ~~Hongshan Yuanda Limited (a company owned by Mr. Meng~~approval, the ~~current Chief Financial Officer~~Company ofchanged ~~the~~its ~~Company)~~name ~~entered~~from anClancy ~~agreement~~Corp. to ~~assign,~~Brilliant ~~transfer~~N.E.V ~~and~~Corp. ~~convey~~The ~~all~~Company ofemended its ~~rights,~~Articles ~~titles~~of ~~and~~Incorporation ~~interest in and to Shanghai Clancy, along~~ with ~~its~~the ~~ownership~~Nevada Secretary of ~~Beijing~~State ~~Clancy~~to ~~(including~~effect ~~all~~the ~~assets~~name change and ~~liabilities~~also ofhas ~~both~~filed ~~companies),~~an toIssuer ~~Hongshan~~Company-Related ~~Yuanda~~Action ~~Limited.~~Notification ~~The effective~~Form ~~date~~with ofFINRAto ~~this~~reflect ~~transfer is June 30, 2023. As of~~ the ~~date of transfer, Shanghai Clancy had no operations~~ change and noapplied ~~assets~~for ~~and~~a ~~all liabilities~~new ~~were~~stock ~~assigned to the transferee~~symbol.

~~NOTE~~In October 2023, the Company, Shanghai Clancy, and HongshanHongshanYuanda 2Limited –(a ~~GOING~~company ~~CONCERN~~owned by Mr. Meng, the current Chief Financial Officer of the Company) entered an agreement to assign, transfer and convey all of its rights, titles and interest in and to Shanghai Clancy, along with its ownership of Beijing Clancy, to Hongshan Yuanda Limited. The effective date of this transfer is June 30, 2023. As of the date of transfer, Shanghai Clancy had no operations and no assets and all liabilities were assigned to the transferee.

~~The accompanying~~NOTE ~~financial~~2 ~~statements~~– ~~have~~GOING been prepared assuming that the Company will continue as a going concern. For the three months ended October 31, 2023, the Company incurred loss, an accumulated deficit and experienced negative cash flow from operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.CONCERN

The accompanying consolidated ~~Covid-19~~financial ~~pandemic~~statements ~~presents~~have ~~novel~~been ~~challenges~~prepared ~~and~~assuming athat ~~chaotic~~the ~~business~~Company ~~environment~~will ~~globally.~~continue ~~The~~as ~~duration~~a ~~and~~going ~~intensity~~concern. ofFor the ~~impact~~six ofmonths ended January 31, 2024, the ~~Covid-19~~Company toincurred ~~business~~loss, ~~entities~~an ~~differ~~accumulated ~~geographically.~~deficit ~~Covid-19~~and ~~has~~experienced anegative ~~limited~~cash ~~impact~~flow onfrom ~~the~~operations. ~~Company’s~~These ~~activities~~conditions ~~The~~raise ~~impact on~~substantial doubt about the Company’s ~~result~~ability ofto ~~operation~~continue ~~and~~as ~~the~~a going concern. The financial statements ~~was~~do ~~immaterial~~not asinclude ofany ~~October~~adjustments ~~31,~~that ~~2023~~might result from the outcome of this uncertainty.

~~NOTE~~The Covid-19 pandemic ~~3 – SUMMARY~~presents OFnovel ~~SIGNIFICANT~~challenges ~~ACCOUNTING~~and ~~POLICIES~~a chaotic business environment globally. The duration and intensity of the impact of the Covid-19 to business entities differ geographically. Covid-19 has a limited impact on the Company’s activities The impact on the Company’s result of operation and the financial statements was immaterial as of January 31, 2024.

~~BASIS~~ NOTE 3 – SUMMARY OF ~~PRESENTATION.~~SIGNIFICANT ACCOUNTING POLICIES

~~The accompanying~~BASIS ~~unaudited~~OF condensed financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-XPRESENTATION. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.

~~In the~~The ~~opinion~~accompanying ofunaudited ~~management,~~condensed ~~the~~financial statements ~~balance~~have ~~sheet~~been asprepared ofby ~~July~~management ~~31,~~in ~~2023,~~accordance ~~which~~with ~~has~~both ~~been~~accounting ~~derived~~principles ~~from~~generally ~~audited~~accepted ~~financial~~in ~~statements,~~the ~~and~~United ~~these~~States (“GAAP”), ~~unaudited~~and ~~condensed~~the ~~financial~~instructions ~~statements~~to ~~reflect~~Form ~~all~~10-Q ~~normal~~ and ~~recurring~~Rule ~~adjustments~~10-01 ~~considered~~of ~~necessary~~Regulation toS-X. ~~state~~Certain ~~fairly~~information ~~the~~and ~~results for~~note ~~the~~disclosures ~~periods~~normally ~~presented.~~included ~~The~~in ~~results~~audited financial ~~for~~statements ~~the~~prepared ~~period~~in ~~ended~~accordance ~~October~~with ~~31,~~generally ~~2023~~accepted ~~are~~accounting ~~not~~principles ~~necessarily~~have ~~indicative~~been ofcondensed ~~the~~or ~~results~~omitted pursuant to ~~be expected~~those ~~for~~rules and regulations, although the ~~entire~~Company ~~fiscal~~believes ~~year~~that ~~ending~~the ~~July~~disclosures ~~31,~~made ~~2024~~are oradequate ~~for~~to ~~any~~make ~~future~~the ~~period~~information not misleading.

~~F-5~~In the opinion of management, the balance sheet as of July 31, 2023, which has been derived from audited financial statements, and these unaudited condensed financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended January 31, 2024 are not necessarily indicative of the results to be expected for the entire fiscal year ending July 31, 2024 or for any future period.

~~Table of Contents~~F-5

~~These unaudited~~Table ~~condensed~~of financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended July 31, 2023.Contents

~~Fiscal~~These unaudited condensed financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ~~end~~ended July 31, 2023.

~~The Company’s~~Fiscal year end ~~is July 31st.~~

~~Use of~~The ~~Estimates~~Company’s year-end is July 31st.

~~The preparation~~Use 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.Estimates

~~Income~~The preparation of financial statements in conformity with generally ~~Taxes~~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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Income ~~taxes~~ are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.Taxes

~~Revenue~~Income taxes are computed using the asset and liability method. Under ~~Recognition~~the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

~~Cash~~The Company recognizes revenue in accordance with ASC 606, Revenue ~~and~~from ~~Cash~~Contracts. ~~Equivalents~~The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

Cash ~~and~~ ~~cash equivalents consist of all cash balances~~ and ~~highly~~Cash ~~liquid investments with original maturities of three months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values.~~Equivalents

~~Concentration~~Cash and cash equivalents consist of all cash balances and highly liquid investments with original maturities of ~~Credit~~three ~~Risk~~months or less. Because of short maturity of these investments, the carrying amounts approximate their fair values.

~~The Company~~Concentration ~~is exposed to credit risk in the normal course~~ of ~~business,~~Credit primarily related to cash and cash equivalents. The cash is deposited in the institution insured by the Federal Deposit Insurance Corporation (FDIC). The Company has not experienced any losses in such accounts.Risk

~~Leases~~The Company is exposed to credit risk in the normal course of business, primarily related to cash and cash equivalents. The cash is deposited in the institution insured by the Federal Deposit Insurance Corporation (FDIC). The Company has not experienced any losses in such accounts.

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the balance sheets. Finance leases are included in finance lease ROU assets and finance lease liabilities in the balance sheets.Leases

~~ROU assets~~The ~~represent the~~ Company’s ~~right~~determines toif ~~use~~ an ~~underlying~~arrangement ~~asset~~is ~~for the lease term and lease liabilities represent the Company’s~~a ~~obligation to make~~ lease ~~payments~~at ~~arising from the lease~~inception. Operating ~~lease~~leases ~~and~~are ~~finance~~included in operating lease right-of-use (“ROU”) assets and ~~liabilities~~operating ~~recognized at October 31, 2023 and July 31, 2023 based on the present value of~~ lease ~~payments over the lease term discounted using the rate implicit~~liabilities in the ~~lease~~balance sheets. InFinance ~~cases~~leases ~~where~~are ~~the~~included ~~implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date~~ in ~~determining~~finance ~~the present value of~~ lease ~~payments.~~ROU ~~Lease~~assets ~~expense~~and ~~for~~finance lease ~~payments~~liabilities ~~is recognized~~in ~~on a straight-line basis over~~ the ~~lease~~balance ~~term~~sheets.

~~The~~ ROU assets represent the Company’s ~~has~~right to ~~elected~~use ~~not~~an underlying asset for the lease term and lease liabilities represent the Company’s obligation to ~~recognize~~make ~~operating~~lease payments arising from the lease. Operating lease and finance lease ROU assets and liabilities ~~arising~~recognized ~~from~~at ~~short-~~January 31, 2024 and July 31, 2023 based on the present value of lease payments over the lease term ~~leases~~discounted using the rate implicit in the lease. In cases where the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

FThe Company has elected not to recognize operating lease ROU assets and liabilities arising from short-6term leases.

~~Table~~Reporting ofCurrency ~~Contents~~and Translation

~~Reporting~~The financial statements of the Company’s foreign subsidiaries ~~Currency~~are measured using the local currency, Renminbi (“RMB”), as the functional currency; whereas the functional currency of Brilliant N.E.V Corp. (formerly Clancy Corp.)and ~~Translation~~reporting currency of the Company is the United States dollar (“USD” or “$”).

The financial statements of the Company’s foreign subsidiaries are measured using the local currency, Renminbi (“RMB”), as the functional currency; whereas the functional currency of Brilliant N.E.V. Corp. and reporting currency of the Company is the United States dollar (“USD” or “$”).F-6

~~The Company~~Table ~~has discontinued operations in China where the local currency~~ of RMB was used to prepare the financial statements which were translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB is the functional currency for the discontinued operations outside the United States. Changes in the exchange rates between this currency and the Company’s reporting currency, are partially responsible for some of the periodic changes in the financial statements. Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Company’s foreign discontinued operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as a component of accumulated other comprehensive income (loss) in stockholders’ deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the three months ended October 31, 2023 and 2022 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities.Contents

The Company has discontinued operations in China ~~exchange~~where ~~rates~~the local currency of RMB was used to ~~translate~~prepare ~~amounts~~the infinancial statements which were translated into the Company’s reporting currency, U.S. dollars. The local currency of RMB tois ~~USD~~the functional currency for the ~~purposes~~discontinued operations outside the United States. Changes in the exchange rates between this currency and the Company’s reporting currency, are partially responsible for some of the ~~preparing~~periodic changes in the consolidated financial statements. ~~were~~Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars at the spot rate in effect at the applicable reporting date. Revenues and expenses of the Company’s foreign discontinued operations are translated at the average exchange rate during the applicable period. The resulting unrealized cumulative translation adjustment is recorded as ~~follows:~~a component of accumulated other comprehensive income (loss) in stockholders’ deficit. Realized and unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entity are recorded in general and administrative expense in the period in which they occur. For the six months ended January 31, 2024 and 2023 there were no realized or unrealized transaction gains and losses generated by transactions denominated in a currency different from the functional currency of the applicable entities.

Schedule of exchange rates
	October 31, 2023		October 31, 2022
Period end USD: RMB exchange rate		N/A*		7.18
Average USD: RMB exchange rate		N/A*		7.06

The exchange rates used to translate amounts in RMB to USD for the purposes of preparing the financial statements were as follows:

* The Company discontinued its operations in China in June 2023.

Schedule of exchange rates
	January 31, 2024			January 31, 2023
Period end USD: RMB exchange rate		N/A	*		6.76
Average USD: RMB exchange rate		N/A	*		7.01

~~Foreign Operations~~ *The Company discontinued its operations in China in June 2023.

~~All of~~Foreign the Company’s discontinued operations and assets are located in Beijing China. The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted.Operations

~~Basic~~All of the Company’s discontinued operations and assets are located ~~Income~~in ~~(Loss)~~Beijing ~~Per~~China. ~~Share~~The Company may be adversely affected by possible political or economic events in this country. The effect of these factors cannot be accurately predicted.

~~The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”.~~ Basic ~~(loss)~~Income ~~per share is computed by dividing net income~~ (~~loss~~Loss) ~~available~~Per to common stockholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of October 31, 2023, and July 31, 2023, there were no potentially dilutive equity instruments issued or outstanding. Share

~~Comprehensive~~The Company computes income (loss) per share in ~~Income~~accordance with FASB ASC 260 “Earnings per Share”. Basic (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of January 31, 2024, and July 31, 2023, there were no potentially dilutive equity instruments issued or outstanding.

~~The Company follows Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 220, “~~Comprehensive ~~Income,”~~ in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, the translation adjustment was immaterial for the three months ended October 31, 2023 and 2022.Income

The Company follows Financial ~~Instruments~~Accounting Standards Board Accounting Standards Codification (“FASB ASC”) 220, “Comprehensive Income,” in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. The Company has one item of other comprehensive income, consisting of a foreign translation adjustment; however, there is no such a translation adjustment for the six months ended January 31, 2024, and the translation adjust was immaterial for the six months ended January 31, 2023.

~~The carrying~~Financial ~~value of the Company’s short-term financial instruments, such as accounts payable and advances, approximates their fair values because of their short maturities.~~Instruments

~~Stock~~The carrying value of the Company’s short-~~Based~~term financial instruments, ~~Compensation~~such as accounts payable and advances, approximates their fair values because of their short maturities.

Stock-~~based compensation~~Based ~~is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.~~Compensation

~~Recently~~Stock-based compensation is accounted for at fair value in accordance ~~Adopted~~with ~~Accounting~~ASC ~~Pronouncements~~Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

~~As of~~Recently ~~October~~Adopted ~~31,~~Accounting ~~2023, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s financial statements.~~Pronouncements

~~F-7~~As of January 31, 2024, there are no recently issued accounting standards not yet adopted which would have a material effect on the Company’s consolidated financial statements.

~~Table~~NOTE of4 ~~Contents~~– DISCONTINUED OPERATIONS

~~NOTE~~In June 2023, the Company's former major shareholder 4and –sole ~~DISCONTINUED~~director ~~OPERATIONS~~Mr. Xiangying Meng along with other shareholders, entered into a stock purchase agreement (SPA) with Mr. Guangzhe Su. Pursuant to the SPA, Mr. Guangzhe Su became the major shareholder and the Company's CEO. Due to the ownership change and pursuant to the SPA, the Company ceased the operations of its China subsidiaries in June 2023.

In June 2023, the Company’s former major shareholder and sole director Mr. Xiangying Meng along with other shareholders, entered into a stock purchase agreement (SPA) with Mr. Guangzhe Su. Pursuant to the SPA, Mr. Guangzhe Su became the major shareholder and the Company’s CEO. Due to the ownership change and pursuant to the SPA, the Company ceased the operations of its China subsidiaries in June 2023.F-7

~~The following~~Table ~~table presents the components~~ of ~~discontinued operations in relation to the China subsidiaries reported in the statements of operations:~~Contents

Schedule of components of discontinued operations
	Three Months Ended October 31,
	2023		2022
Net Sales		—		—
Operating costs and expenses		—		66,337
Income (loss) from operations before other income and income taxes		—		(66,337	)
Other income (loss)		—		13
Income (loss) before income taxes, loss on equity investment, and non-controlling interest		—		(66,324	)
Income tax		—		—
Income (loss) from discontinued operations		—		(66,324	)
Comprehensive income statement
Net income (loss) from discontinued operations		—		(66,324	)
Foreign currency translation gain		—		23,155
Total comprehensive income (loss) from discontinued operations		—		(43,169	)

The following table presents the components of discontinued operations in relation to the China subsidiaries reported in the statements of operations:

NOTE 5 – COMMITMENTS AND CONTINGENCIES


	Six Months Ended Jan 31,					Three Months Ended Jan 31,
	2024		2023			2024		2023

Net sales
Operating costs and expenses		-		133,070			-		66,733
Income (loss) from operations before other income taxes		-		(133,070	)		-		(66,733	)
Other income (loss)		-		22			-		9
Income (loss) before income taxes		-		(133,048	)		-		(66,724	)
Income tax		-		-			-		-
Income (loss) from discontinued operations		-		(133,048	)		-		(66,724	)

Comprehensive income statement
Net income (loss) from discontinued operations		-		(133,048	)		-		(66,724	)
Foreign currency translation gain (loss)		-		(4,039	)		-		(27,194	)
Total comprehensive income (loss) from discontinued operations		-		(137,087	)		-		(93,918	)

~~On October~~NOTE ~~19,~~5 – COMMITMENTS ~~2017 the Company entered into a five-year rental agreement for a $540 monthly fee, starting on November 1, 2017. Leased Premise~~AND ~~with the area of 74 square meters is located at 8 Stasinou Ave, Lefkosia 1060, Nicosia, Cyprus.~~CONTINGENCIES

~~Due to~~On ~~the~~October ~~adoption~~19, of2017 the ~~new~~Company ~~lease~~entered ~~standard~~into ~~under~~a five-year ~~the~~rental ~~optional~~agreement ~~transition~~for ~~method~~a ~~which~~$540 ~~allows~~monthly ~~the~~fee, ~~entity~~starting toon ~~apply~~November ~~the new lease standard at the adoption date~~1, ~~the~~2017. ~~Company~~Leased ~~has~~Premise ~~capitalized~~with the ~~present~~area ~~value~~ of ~~the~~74 ~~minimum~~square ~~lease~~meters ~~payments~~is ~~commencing~~located at ~~August~~8 1,Stasinou ~~2019~~Ave, ~~using~~Lefkosia ~~an estimated~~1060, ~~incremental~~Nicosia, ~~borrowing rate of 6%~~Cyprus. ~~The minimum lease payments do not include common area annual expenses which are considered to be non-lease components.~~

~~Because of~~Due to the ~~ownership~~adoption ~~change~~of inthe ~~June~~new ~~2019,~~lease standard under the ~~Company~~optional ~~did~~transition ~~not~~method ~~use~~which allows the ~~premise~~entity ~~anymore~~to ~~and~~apply nothe ~~payments~~new ~~were~~lease ~~made.~~standard ~~But~~at the ~~Company~~adoption ~~adopted ASC~~date, ~~842~~the ~~accounting~~Company ~~for~~has ~~leases~~capitalized the ~~and~~present ~~continued~~value toof ~~accumulated~~the minimum lease ~~liabilities~~payments upcommencing toAugust ~~the~~1, ~~quarter~~2019, ~~ended~~using ~~July~~an ~~31,~~estimated ~~2023.~~incremental ~~Due~~borrowing torate ~~the~~of ~~ownership change~~6%. ~~and~~The ~~pursuant~~minimum lease topayments ~~the~~do ~~SPA,~~not ~~the~~include ~~former~~common ~~major~~area ~~shareholder~~annual ~~assumed~~expenses ~~the~~which ~~accumulated~~are ~~lease~~considered ~~liabilities~~to ofbe ~~$21,060~~non-lease components.

~~On May~~Because ~~26,~~of ~~2020,~~ the ~~Company~~ownership ~~entered~~change ~~into~~in aJune ~~three-year rental agreement for a 32~~2019,~~000 RMB per month. The office is located on the second~~ ~~floor of BYD 4S shop, No 56, Dongsihuan South Road, Chaoyang District, Beijing. In May 2020,~~ the Company ~~paid~~did ~~480,000RMB~~not ~~($67,306)~~use ~~including~~ the ~~first~~premise ~~year~~anymore ~~rent of 384,000 RMB ($53,845)~~ and ~~three~~no ~~month~~payments ~~rent~~were ~~of 96,000 RMB ($13,461) as the security deposit~~made. InBut ~~May 2021,~~ the Company ~~paid~~ ~~384,000~~adopted ~~RMB~~ASC ~~($60,300)~~842 ~~for~~accounting ~~the second year. In June 2022, the Company paid 384,000 RMB ($59,170)~~ for ~~the~~leases ~~third~~ and ~~final year. Due~~continued to ~~the~~accumulated ~~adoption of the new~~ lease ~~standard~~liabilities ~~under~~up to the ~~optional~~quarter ~~transition~~ended ~~method~~July ~~which~~31, ~~allows~~2023. ~~the~~Due ~~entity~~ to ~~apply~~ the ~~new~~ownership ~~lease~~change ~~standard at~~and ~~the~~pursuant ~~adoption~~to ~~date,~~ the ~~Company~~SPA, ~~has capitalized~~ the ~~present~~former major ~~value~~shareholder ofassumed the ~~minimum~~accumulated lease ~~payments~~liabilities ~~commencing August 1, 2019, using an estimated incremental borrowing rate~~ of 6%$21,060. ~~The minimum lease payments do not include common area annual expenses which are considered to be non-lease components.~~

~~Total lease~~On ~~expense~~May ~~under~~26, ~~operating~~2020, ~~leases~~the Company entered into a three-year rental agreement for a 32,000 RMB per month. The office is located on the ~~three~~second ~~months~~floor ~~ended~~of ~~October~~BYD 314S shop, ~~2023~~No 56, Dongsihuan South Road, Chaoyang District, Beijing. In May 2020, the Company paid 480,000RMB ($67,306) including the first year rent of 384,000 RMB ($53,845) and three month rent of 96,000 RMB ($13,461) as the security deposit. In May 2021, the Company paid 384,000 RMB ($60,300) for the second year. In June 2022, ~~were~~the Company paid 384,000 RMB ($059,170) for the third and ~~$21~~final year. Due to the adoption of the new lease standard under the optional transition method which allows the entity to apply the new lease standard at the adoption date,~~060~~ the Company has capitalized the present value of the minimum lease payments commencing August 1, ~~respectively~~2019, using an estimated incremental borrowing rate of 6%. The minimum lease payments do not include common area annual expenses which are considered to be non-lease components.

~~As of~~Total ~~October~~lease ~~31,~~expense ~~2023~~under ~~and~~operating ~~July~~leases ~~31,~~for the ~~2023,~~three ~~both~~and ~~leases~~six months ended ~~and~~January ~~there~~31, ~~were~~2024 noand ~~lease~~2023 ~~Right~~were of$0 ~~Use~~and ~~assets~~$21,060, respectively.

~~F-8~~As of January 31, 2024 and July 31, 2023, both leases ended and there were no lease Right of Use assets.

~~Table~~NOTE of6 – RELATED ~~Contents~~PARTY TRANSACTIONS

~~NOTE~~The Company’s former major shareholder ~~6 – RELATED~~and ~~PARTY~~now ~~TRANSACTIONS~~Chief Financial Officer has been funding the Company for its operations on an as needed basis. For the six months ended January 31, 2023, the Company received $161,314, including $40,085 for the continuing operations and $121,229 for the discontinued operations. During the six months ended January 31, 2024, the former major shareholder and now Chief Financial Officer loaned the Company $28,263. As of January 31, 2024 and July 31, 2023, the Company owed the former major shareholder and now Chief Financial Officer $32,645 and $4,382, respectively. This loan is unsecured, non-interest bearing and due on demand.

The Company’s former major shareholder and now Chief Financial Officer has been funding the Company for its operations on an as needed basis. For the three months ended October 31, 2022, the Company received $69,690, including $20,085 for the continuing operations and $49,605 for the discontinued operations. During the three ended October 31, 2023, the former major shareholder and now Chief Financial Officer loaned the Company $19,400. As of October 31, 2023 and July 31, 2023, the Company owed the former major shareholder and now Chief Financial Officer $23,782 and $4,382, respectively. This loan is unsecured, nonF-~~interest bearing and due on demand.~~8

~~NOTE 7~~Table -of ~~RESEARCH AND DEVELOPMENT EXPENSE~~Contents

~~The Company~~NOTE ~~incurred~~7 ~~significant~~- ~~expenses~~RESEARCH inAND ~~research~~DEVELOPMENT ~~and development (R&D). For the three months ended October 31, 2023 and 2022, the R&D expenses were $0 and $26,425, respectively.~~ EXPENSE

~~NOTE 8~~The ~~– GENERAL~~Company ~~AND~~incurred ~~ADMINISTRATIVE~~significant ~~EXPENSES~~expenses in research and development (GR&AD). For the six months ended January 31, 2024 and 2023, the R&D expenses were $0 and $41,534, respectively.

~~The general~~NOTE ~~and~~8 ~~administrative expenses contain the following~~ – GENERAL ~~continuing~~AND ~~operations:~~ADMINISTRATIVE EXPENSES (G&A)

Schedule of general and administrative expenses
	For the three months ended Oct 31,
Description	2023		2022
Payroll and payroll tax expenses	$	—		—
Professional fees		12,230		22,000
Lease expenses		—		1,620
Other G&A		987		3,278
Total	$	13,216	$	26,898

The general and administrative expenses contain the following – continuing operations:

The general and administrative expenses contain the following – discontinued operations:


	For six months ended Jan 31				For three months ended Jan 31
Description	2024		2023		2024		2023

Payroll and payroll tax expenses
Professional fees		23,230		25,200		11,000		3,200
Lease expenses		-		1,620		-		-
Other G&A		3,005		3,200		2,018		(78	)
Total		26,235		30,020		13,018		3,122

	For the year ended July 31,
Description	2023		2022
Payroll and payroll tax expenses	$	—		26,266
Professional fees		—		—
Lease expenses		—		13,606
Other G&A		—		40
Total	$	—	$	39,912

The general and administrative expenses contain the following – discontinued operations:

NOTE 9 – INCOME TAXES

	For six months ended Jan 31				For three months ended Jan 31
Description	2024		2023		2024		2023

Payroll and payroll tax expenses		-		63,789		-		37,523
Professional fees		-		-		-		-
Lease expenses		-		27,384		-		13,778
Other G&A		-		333		-		293

Total		-		91,506		-		51,594

~~The Company~~NOTE ~~utilizes~~9 the asset and liability method of accounting for income taxes in accordance with FASB ASC 740, “Income Taxes”. Under this method, income tax expense is recognized for the amount of: (i) taxes payable or refundable for the current period and (ii) deferred tax consequences of temporary differences resulting from– ~~matters~~INCOME that have been recognized in an entity’s financial statements or tax returns. Deferred tax assets also include the prior years’ net operating losses (“NOL”) carried forward. 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 the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized.TAXES

The Company isutilizes ~~subject~~the toasset and liability method of accounting for income taxes byin ~~entity~~accordance onwith FASB ASC 740, “Income Taxes”. Under this method, income ~~arising~~tax inexpense is recognized for the amount of: (i) taxes payable or ~~derived~~refundable ~~from~~for the current period and (ii) deferred tax ~~jurisdiction~~consequences inof ~~which~~temporary ~~each~~differences resulting from matters that have been recognized in an entity’s isfinancial ~~domiciled~~statements or tax returns. ~~The~~ Deferred tax assets also ~~Company~~include the prior years’s ~~PRC~~net ~~subsidiaries~~operating ~~file~~losses ~~their~~(“NOL”) ~~income~~carried forward. Deferred tax ~~returns~~assets ~~online~~and ~~with~~liabilities ~~PRC~~are measured using enacted tax ~~authorities~~rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The ~~Company~~effect ~~conducts~~on ~~all~~deferred tax assets and liabilities of ~~its~~a ~~businesses~~change in tax rates is recognized in the results of operations in the ~~through~~period ~~its~~that ~~subsidiaries~~includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and ~~affiliated~~negative ~~entities~~evidence, ~~principally~~it inis more likely than not some portion or all of the ~~PRC~~deferred tax assets will not be realized.

~~(A)~~The ~~United~~Company ~~States~~is ~~(“US”)~~subject to income taxes by entity on income arising in or derived from the tax jurisdiction in which each entity is domiciled. The Company’s PRC subsidiaries file their income tax returns online with PRC tax authorities. The Company conducts all of its businesses through its subsidiaries and affiliated entities, principally in the PRC.

~~The Company’s~~(A) USUnited ~~parent~~States ~~company was incorporated in the~~ (“US and is subject to U.S. income tax rate of 21% and files U.S. federal income tax return. As of October 31, 2023, the US entity had net operating loss carry forwards for income tax purpose of $286,055. The ultimate realization of deferred tax assets is dependent upon the Company’s future generation of taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets due to the Company’s US parent company’s limited operating history and continuous loss, and has therefore established a full valuation allowance as of October 31, 2023. ”)

~~F-9~~The Company’s US parent company was incorporated in the US and is subject to U.S. income tax rate of 21% and files U.S. federal income tax return. As of January 31, 2024, the US entity had net operating loss carry forwards for income tax purpose of $299,073. The ultimate realization of deferred tax assets is dependent upon the Company’s future generation of taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets due to the Company’s US parent company’s limited operating history and continuous loss, and has therefore established a full valuation allowance as of January 31, 2024.

~~Table of Contents~~F-9

~~(B)~~Table ~~PRC~~of Contents

~~The Company’s wholly owned Chinese subsidiary Shanghai Clancy is a wholly foreign-owned entity~~ (~~“WFOE”~~B). ~~Shanghai Clancy had no business activity from inception through July 31, 2022. The Company’s second tier WOFE subsidiary, Beijing Clancy, is subject to the reduced~~ PRC income tax rate as follows as per Caishui (2019) No. 13 issued by General Administration of Taxation, Ministry of Finance of PRC in January 2019: if the annual taxable income of small enterprises does not exceed RMB 1 million ($152,000), only 25% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 5% of the total taxable income); if the annual taxable income of small enterprises is between RMB 1 million ($152,000) and RMB 3 million ($456,000), only 50% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 10% of the total taxable income). This tax-reduced policy is effective for the period from January 1, 2019 through December 31, 2022. Beijing Clancy did not have taxable income for year ending July 31, 2023. Tax losses of the operating subsidiaries of the Company may be carried forward for five years in China.

~~Due~~The Company’s wholly owned Chinese subsidiary Shanghai Clancy is a wholly foreign-owned entity (“WFOE”). Shanghai Clancy had no business activity from inception through July 31, 2022. The Company’s second tier WOFE subsidiary, Beijing Clancy, is subject to the ~~discontinuation~~reduced ofPRC ~~the~~income ~~Chinese~~tax ~~subsidiaries~~rate as follows as per Caishui (2019) No. 13 issued by General Administration of Taxation, Ministry of Finance of PRC in January 2019: if the ~~NOL~~annual taxable income of small enterprises does not ~~have~~exceed ~~any~~RMB ~~impact~~1 million ($152,000), only 25% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 5% of the ~~Company~~total astaxable income); if the annual taxable income of ~~October~~small enterprises is between RMB 1 million ($152,000) and RMB 3 million ($456,000), only 50% of such taxable income is required for paying the income tax at an income tax rate of 20% (equivalent to 10% of the total taxable income). This tax-reduced policy is effective for the period from January 1, 2019 through December 31, 2022. Beijing Clancy did not have taxable income for year ending July 31, 2023. Tax losses of the operating subsidiaries of the Company may be carried forward for five years in China.

~~NOTE~~Due to the discontinuation of the Chinese subsidiaries, the NOL does 10not -have ~~SHARES~~any ~~ISSUED~~impact ~~FOR~~to ~~EQUITY~~the ~~FINANCING~~Company as of January 31, 2024.

~~In December~~NOTE ~~2020,~~10 ~~the~~- ~~Company issued 150,000,000 shares of common stock of the Company to five individuals including the Company’s~~SHARES ~~CEO,~~ISSUED atFOR ~~$0.002~~EQUITY ~~per share. The Company received proceeds of $300,000 from this private placement. As of October 31, 2023 and July 31, 2023, the shares issued and outstanding were 153,105,464.~~FINANCING

~~NOTE~~In December 2020, the 11Company -issued ~~SUBSEQUENT~~150,000,000 ~~EVENTS~~shares of common stock of the Company to five individuals including the Company’s CEO, at $0.002 per share. The Company received proceeds of $300,000 from this private placement. As of January 31, 2024 and July 31, 2023, the shares issued and outstanding were 153,105,464.

~~Management has~~NOTE ~~evaluated~~11 ~~subsequent~~- ~~events~~SUBSEQUENT through the date of filing the financial statements with the Securities and Exchange Commission, the date the financial statements were available to be issued. Management is not aware of any reportable events that occurred subsequent to the balance sheet date up to the date of filing this report.EVENTS

~~Item~~Management has evaluated subsequent events through the date of filing 2.the ~~Management’s~~financial ~~Discussion~~statements with the Securities and ~~Analysis~~Exchange Commission, the date the financial statements were available to be issued. Management is not aware of ~~Financial~~any ~~Condition~~reportable ~~and~~events ~~Results~~that occurred subsequent to the balance sheet date up to the date of ~~Operations~~filing this report.

~~Forward-Looking Statements~~Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

~~Certain statements made in this quarterly report on Form 10~~Forward-QLooking are “forward-looking statements” in regard to the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the registrant to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. The Company’s plans and objectives are based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance the forward-looking statements included in this quarterly report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the registrant or any other person that the objectives and plans of the registrant will be achieved.Statements

~~Substantial~~Certain statements made ~~risks~~in ~~exist~~this ~~with~~quarterly ~~respect~~report toon anForm ~~investment~~10-Q are “forward-looking statements” in regard to the ~~Company~~plans and objectives of management for future operations. ~~These~~Such statements involve known and unknown risks, ~~include~~uncertainties ~~but~~and ~~are~~other ~~not~~factors ~~limited~~that may cause actual results, performance or achievements of the registrant to be materially different from any future results, ~~those~~performance ~~factors~~or ~~discussed~~achievements inexpressed or ~~our~~implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve ~~Annual~~numerous ~~Report~~risks and uncertainties. The Company’s plans and objectives are based, in part, on ~~Form~~assumptions ~~10-K~~involving ~~for~~the continued expansion of business. Assumptions relating to the ~~fiscal~~foregoing ~~year~~involve ~~ended~~judgments ~~July~~with 31respect to, ~~2023~~among other things, ~~filed~~future ~~with~~economic, ~~the~~competitive and ~~Securities~~market conditions and ~~Exchange~~future ~~Commission~~business ~~(“Commission”)~~decisions, all of which are difficult or impossible to predict accurately and many of which onare ~~October~~beyond ~~31,~~the ~~2023~~control of the Company. ~~More~~Although ~~broadly~~the Company believes its assumptions underlying the forward-looking statements are reasonable, any ~~these~~of ~~factors~~the ~~include~~assumptions could prove inaccurate and, ~~but~~therefore, ~~are~~there ~~not~~can ~~limited~~be no assurance the forward-looking statements included in this quarterly report will prove to: be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the registrant or any other person that the objectives and plans of the registrant will be achieved.

●Substantial Werisks ~~have~~exist with ~~incurred~~respect ~~significant~~to ~~losses~~an ~~and~~investment ~~expect~~in tothe ~~incur~~Company. ~~future~~These ~~losses;~~risks ●include ~~Our~~but ~~current~~are ~~financial~~not ~~condition~~limited ~~and~~to, ~~immediate~~those ~~need~~factors ~~for~~discussed ~~capital;~~in ●our ~~Potential~~Annual ~~significant~~Report on ~~dilution~~Form ~~resulting~~10-K ~~from~~for the ~~issuance~~fiscal ofyear ~~new~~ended ~~securities~~July ~~for~~31, ~~any funding~~2023, ~~debt~~filed ~~conversion~~with orthe ~~any~~Securities ~~business~~and ~~combination;~~Exchange ~~and~~Commission ●(“Commission”) Weon November ~~are~~14, a2023. ~~“penny~~More ~~stock”~~broadly, ~~company.~~these factors include, but are not limited to:

~~-2-~~● We have incurred significant losses and expect to incur future losses; ● Our current financial condition and immediate need for capital; ● Potential significant dilution resulting from the issuance of new securities for any funding, debt conversion or any business combination; and ● We are a “penny stock” company.

~~Table of Contents~~-2-

~~Description~~ Table of ~~Business~~Contents

~~Brilliant N.E.V.~~Description ~~Corp. (“The Company”) was incorporated on March 22, 2016 under the laws~~ of ~~the State of Nevada, USA. The Company initially was formed for the purpose of producing and selling handcrafted soaps.~~Business

OnBrilliant ~~April~~N.E.V. ~~13,~~Corp. ~~2020,~~(formerly ~~the Company registered Shanghai~~ Clancy ~~Enterprise Management Co~~Corp.,) ~~Ltd.~~ (~~Shanghai~~“The ~~Clancy~~Company”) aswas aincorporated ~~wholly~~on ~~foreign-owned~~March ~~entity and as a wholly owned subsidiary in Shanghai~~22, ~~China.~~2016 ~~Shanghai~~under ~~Clancy~~the ~~had~~laws noof ~~business~~the ~~activity~~State ~~from~~of ~~inception through June 30~~Nevada, ~~2023~~ USA. ~~On April~~The ~~24,~~Company ~~2020,~~initially ~~Shanghai~~was ~~Clancy~~formed ~~registered~~for ~~Beijing~~the ~~Clancy~~purpose ~~Information~~of ~~Technology~~producing ~~Co., Ltd. (Beijing Clancy) in Beijing as its wholly-owned subsidiary~~ and aselling ~~second~~handcrafted ~~tier subsidiary of the Company~~soaps.

~~From~~On ~~August~~April 113, 2020 ~~to April 30~~, ~~2021,~~ the Company ~~business~~registered ~~centered~~Shanghai onClancy ~~providing~~Enterprise ITManagement ~~services to a small number of clients~~Co. ~~In May 2021~~, ~~the~~Ltd. ~~Company~~(Shanghai ~~ceased~~Clancy) ~~its~~as ITa ~~services~~wholly ~~and re~~foreign-~~focused~~owned ~~its operations to provide marketing services to small~~ entity and ~~median~~as ~~sized businesses. Brilliant N.E.V. Corp. was~~ a ~~product~~wholly ~~marketing~~owned ~~consulting~~subsidiary ~~firm that provides product marketing consulting services to clients. The Company developed marketing programs and strategies~~ in ~~line~~Shanghai, ~~with customer needs~~China. ~~Our~~ ~~marketing~~Shanghai ~~programs~~Clancy ~~was~~had ~~designed~~no tobusiness ~~provide~~activity ~~clients~~from ~~with~~inception ~~detailed analysis~~through onJune ~~the market data in their industry~~30, ~~including historical data~~2023. ~~We also assisted clients expand their marketing communication~~On ~~channels~~April ~~including~~24, ~~but~~2020, ~~not~~Shanghai ~~limited~~Clancy toregistered ~~advertisements~~Beijing inClancy ~~the~~Information ~~business~~Technology ~~journals~~Co., ~~electronical~~Ltd. ~~communication~~(Beijing ~~tools~~Clancy) ~~such~~in Beijing as ~~WeChat~~its ~~marketing~~wholly-owned ~~programs,~~subsidiary ~~etc. We charge an agreed upon fee based on technical difficulties~~ and ~~the~~a ~~marketing~~second ~~reach~~tier subsidiary of the ~~programs~~Company. ~~During the fourth quarter of fiscal 2022, we terminated this business.~~

From August 1, 2020 to April 30, 2021, the Company business centered on providing IT services to a small number of clients. In ~~June~~May ~~2023~~2021, the Company’s ~~former~~ceased ~~major~~its ~~shareholder~~IT services and ~~sole~~re-focused ~~director~~its ~~Mr.~~operations ~~Xiangying~~to ~~Meng,~~provide ~~entered~~marketing ~~into~~services to small and median sized businesses. Clancy was a ~~stock~~product ~~purchase~~marketing ~~agreement~~consulting ~~(SPA)~~firm that provides product marketing consulting services to clients. The Company developed marketing programs and strategies in line with Mrcustomer needs. Our ~~Guangzhe~~marketing ~~Su.~~programs ~~Pursuant~~was designed to provide clients with detailed analysis on the ~~SPA~~market data in their industry, Mrincluding historical data. ~~Guangzhe~~We Sualso ~~became~~assisted ~~the~~clients ~~major~~expand ~~shareholder~~their ~~and~~marketing ~~the~~communication ~~Company’s~~channels including ~~CEO.~~but ~~Due~~not limited to advertisements in the ~~ownership~~business ~~change~~journals, electronical communication tools such as WeChat marketing programs, ~~and~~etc. ~~pursuant~~We tocharge an agreed upon fee based on technical difficulties and the ~~SPA,~~marketing reach of the ~~Company~~programs. ~~ceased~~During the ~~operations~~fourth quarter of fiscal ~~its~~2022, ~~China~~we ~~subsidiaries~~terminated this business.

~~On July~~In ~~28,~~June 2023, the Company's ~~changed~~former ~~its~~major ~~name~~shareholder and ~~from~~sole ~~Clancy~~director ~~Corp~~Mr. toXiangying ~~Brilliant~~Meng, ~~N.E.V.~~entered ~~Corp.~~into ~~The~~a ~~Company~~stock ~~amended~~purchase ~~its~~agreement ~~Articles~~(SPA) ~~of Incorporation~~ with ~~the~~Mr. ~~Nevada~~Guangzhe ~~Secretary~~Su. ofPursuant ~~State~~ to ~~effect~~ the ~~name~~SPA, ~~change~~Mr. ItGuangzhe Su ~~also~~became ~~has~~the ~~filed~~major anshareholder ~~Issuer~~and the Company~~-Related~~'s ~~Action~~CEO. ~~Notification~~Due ~~Form with FINRA~~ to ~~reflect~~ the ~~name~~ownership change and ~~applied~~pursuant ~~for~~to athe ~~new~~SPA, ~~stock~~the ~~symbol~~Company ceased the operations of its China subsidiaries.

In ~~October~~ October 2023, the Company, Shanghai Clancy, and Hongshan Yuanda Limited (a company owned by Mr. Meng, the current Chief Financial Officer of of the Company) entered an agreement to assign, transfer and convey all of its rights, titles and interest in and to Shanghai Clancy, ~~along~~ along with its ownership of Beijing Clancy ~~(including all assets and liabilities of both companies)~~, to Hongshan Yuanda Limited. The effective date of this transfer is June 30, 2023. As of the date of transfer, Shanghai Clancy had no operations and no assets and all liabilities were assigned to the transferee.

Results of Operations

Revenues.

For the three months and six ended ~~October~~January 31, ~~2023~~2024 and ~~2022~~2023, the Company had no revenues.

Costs of Revenues

For the three and six months ended ~~October~~January 31, ~~2023~~2024 and ~~2022~~2023, the Company had no cost of goods sold as we did not have any revenues for the ~~respective~~ respective periods.

Operating Expenses

For the three months ended ~~October~~January 31, ~~2023~~2024, the Company had total operating expenses of $13,~~216~~018 consisting of $1211,~~230~~000 of professional fees and $~~987~~2,018 of general and administrative expenses. For the three months ended January 31, 2023, the Company had total operating expenses of $69,854, including operating expenses of $3,122 from continuing operations and $66,717 from discontinued operations. The operating expenses of $3,122 from continuing operations consist of $3,200 professional fees, $0 of research and development and negative $78 (due to credit of $580 for filing fees) of general and administrative expenses. The operating expenses of $66,717 from discontinued operations consist of $0 of professional fees, $15,109 in research and development (R&D), $51,624 in general and administrative expenses including payroll and payroll tax expenses of $37,522.

For the six months ended January 31, 2024, the ~~three~~Company had total operating expenses of $26,235 consisting of $23,230 of professional fees and $3,005 of general and administrative expenses. For the six months ended ~~October~~January 31, ~~2022~~2023, the Company had total operating expenses of $93163,~~223~~090, including operating expenses of $2630,~~898~~ 020 from continuing operations and $66133,~~325~~069 from discontinued operations. The operating expenses of $2630,~~898~~ 020 from continuing operations consist of $2225,~~000~~200 professional fees, $0 of research and development and $4,~~898~~820 of general and administrative expenses. The operating expenses of $66133,~~325~~069 from discontinued operations consist of $0 of professional fees, $2641,~~425~~534 in research and development (R&D), $3991,~~912~~505 in general and administrative expenses including payroll and ~~interest~~payroll ~~income~~tax expenses of $1363,789.

The ~~decrease~~ decreases of $8056,~~007~~836 for the three months and $136,855 for the six months ended January 31, 2024 in operating expenses ~~was~~were due to the discontinuation of the Company’'s business in China in June 2023.

~~Net Loss~~-3-

~~For the~~Table ~~three months ended October 31, 2023 and 2022, the Company had net losses~~ of ~~$13,216 and $93,223, respectively, for the reasons discussed above.~~Contents

~~-3-~~Net Loss

~~Table~~For the three months ended January 31, 2024 and 2023, the Company had net losses of ~~Contents~~$13,018 and $69,845, respectively, for the reasons discussed above.

~~Liquidity~~For the six months ended January 31, 2024 and ~~Capital~~2023, ~~Resources~~the Company had net losses of $26,235 and $163,068, respectively, for the reasons discussed above.

~~The Company~~Liquidity ~~had $12,167~~ and ~~$1,302~~Capital ~~in cash and cash equivalents as of October 31, 2023 and July 31, 2023, respectively.~~Resources

AsThe ~~of October 31, 2023 and July 31, 2023, the~~ Company had ~~working capital deficit of~~ $184,~~617~~830 and $51,~~401,~~302 ~~respectively.~~in ~~The~~cash ~~increase~~and incash ~~working capital~~equivalents ~~deficit~~as ~~was~~of ~~due~~January to31, ~~net~~2024 ~~loss~~and ~~for~~July ~~the~~31, ~~current~~2023, ~~period~~respectively.

~~The~~As of January 31, 2023 and July 31, 2023, the Company ~~can~~had ~~provide~~working nocapital ~~assurances~~deficit ~~that~~of it$31,635 ~~can~~and ~~continue~~$5,401, torespectively. ~~satisfy~~The ~~its~~increase ~~cash~~in ~~requirements~~working capital ~~for~~deficit atwas ~~least~~due ~~the~~to ~~next~~net ~~twelve~~loss ~~months~~for the current period.

The ~~following~~Company iscan aprovide ~~summary~~no ofassurances ~~the~~that ~~Company’s~~it ~~cash~~can ~~flows~~continue ~~from~~to ~~operating~~satisfy ~~and~~its ~~financing~~cash ~~activities~~requirements for ~~the~~at ~~three~~least ~~months~~the ~~ended~~next ~~October~~twelve ~~31, 2023 and 2022:~~ months.

	Three Months Ended October 31, 2023			Three Months Ended October 31, 2022
Net Cash Used From Operating Activities – Continuing Operations	$	(8,534	)	$	(16,558	)
Net Cash Used From Operating Activities – Discontinued Operations		—			(52,719	)
Net Cash Provided (adjustment) From Financing Activities – Continuing Operations	$	19,400		$	20,085
Net Cash Provided From Financing Activities – Discontinued Operations		—			49,605
Effect of exchange rate change on cash	$	—		$	(1,038	)
Net Change in Cash	$	10,866		$	(625	)

The following is a summary of the Company’s cash flows from operating and financing activities for the six months ended January 31, 2024 and 2023:

Operating Activities

	Six Months Ended January 31, 2024			Six Months Ended January 31, 2023
Net Cash Used From Operating Activities – Continuing Operations	$	(24,735	)	$	(29,418	)
Net Cash Used From Operating Activities – Discontinued Operations		-			(106,389	)
Net Cash Provided (adjustment) From Financing Activities – Continuing Operations	$	28,263		$	40,085
Net Cash Provided From Financing Activities – Discontinued Operations		-			121,229
Effect of exchange rate change on cash	$	-		$	507
Net Change in Cash	$	3,528		$	26,014

~~During the~~Operating three months ended October 31, 2023, the Company had a net loss of $13,216 and after adjusting for increase of $4,682 in accounts payable, resulted in net cash of $8,534 used from continuing operations. By comparison, during the three months ended October 31, 2022, the Company had used $69,277 in operating activities, $16,558 used in continuing operations and $52,719 used in discontinued operations.Activities

~~Financing~~During the six months ended ~~Activities~~January 31, 2024, the Company had a net loss of $26,235 and after adjusting for increase of $1,679 in accounts payable and an decrease of $180 in prepaid expenses, resulted in net cash of $24,735 used from continuing operations. By comparison, during the six months ended January 31, 2023, the Company had used $135,807 in operating activities, $29,418 used in continuing operations and $106,389 used in discontinued operations.

~~During the~~Financing three months ended October 31, 2023, the Company received $19,400 from the advances from the related party. By comparison, during the three months ended October 31, 2022, the Company received $20,085 of proceeds from continuing operations and $49,605 from discontinued operations. The significant change in financing activities was due to the ownership change in June 2023 and the discontinuation of its China operations.Activities

~~Our financial~~During ~~statements reflect~~ the ~~fact~~six ~~that~~months weended January do31, ~~not~~2024, ~~have~~the ~~sufficient~~Company ~~revenue~~received to$28,263 ~~cover~~of ~~expenses.~~the Weadvances ~~are~~from atthe ~~present~~related ~~under-capitalized~~party. ~~The~~ ~~Company~~By iscomparison, ~~dependent~~during ~~upon~~ the ~~receipt~~six ofmonths ~~capital~~ended ~~investment or other financing to fund its ongoing operations and to execute its~~January ~~business~~31, ~~plan of seeking a combination with a private operating company. In addition~~2023, the Company isreceived ~~dependent~~$40,085 ~~upon~~of ~~certain~~proceeds ~~related~~from ~~parties to~~continuing ~~provide~~operations ~~continued~~and ~~funding~~$121,229 ~~and~~from ~~capital~~discontinued ~~resources~~operations. IfThe ~~continued~~significant change ~~funding~~in ~~and~~financing ~~capital~~activities ~~resources~~was ~~are~~due ~~unavailable~~to atthe ~~reasonable~~ownership ~~terms,~~change ~~the Company~~in ~~may~~June ~~not~~2023 beand ~~able~~the todiscontinuation ~~implement~~of its ~~plan~~China of operations.

~~Basis~~Our financial statements reflect the fact that we do not have sufficient revenue to cover expenses. We are at present under-capitalized. The Company is dependent upon the receipt of ~~presentation~~capital investment or other financing to fund its ongoing operations and to execute its business plan of seeking a combination with a private operating company. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, the Company may not be able to implement its plan of operations.

~~The accompanying~~Basis ~~financial statements have been prepared in accordance with generally accepted accounting principles in the United States~~ of ~~America. The Company’s year end is July 31.~~presentation

~~Use~~The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of ~~Estimates~~America. The Company’s yearend is July 31.

~~Cash~~The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and ~~Cash~~assumptions ~~Equivalents~~that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $12,167 in cash and equivalents as of October 31, 2023 and $1,302 as of July 31, 2023.-4-

~~-4-~~Table of Contents

~~Table~~Cash ofand ~~Contents~~Cash Equivalents

~~Depreciation~~The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $4,830 in cash ~~Amortization~~and equivalents as of January 31, 2024 and ~~Capitalization~~$1,302 as of July 31, 2023.

The Company records depreciation and amortization when appropriate using straight-line balance method over the estimated useful life of the assets. The Company establishes capitalization policy of its assets based on dollar amount that are more than $1Depreciation,~~000~~ in value or if it’s estimated useful life exceeds one year. We estimate that the useful life of our equipment is 3 years. Expenditures for maintenance and repairs are charged to expense as incurred. AdditionsAmortization, ~~major renewals~~ and replacements that increase the property’s useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income.Capitalization

~~Income~~The Company records depreciation and amortization ~~Taxes~~when appropriate using straight-line balance method over the estimated useful life of the assets. The Company establishes capitalization policy of its assets based on dollar amount that are more than $1,000 in value or if it’s estimated useful life exceeds one year. We estimate that the useful life of our equipment is 3 years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property’s useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income.

~~Fair~~Income taxes are computed using the asset and liability ~~Value~~method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of ~~Financial~~assets ~~Instruments~~and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

~~ASC topic 820 “~~Fair Value ~~Measurements~~of ~~and~~Financial Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.Instruments

~~These~~ASC topic 820 “Fair Value Measurements and ~~tiers~~Disclosures” ~~include:~~establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

Level 1:	defined as observable inputs such as quoted prices in active markets;
Level 2:	defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and
Level 3:	defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

These tiers include:

The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.

Level 1:	defined as observable inputs such as quoted prices in active markets;

Level 2:	defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3:	defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

~~Revenue~~The carrying value of cash and the Company’s ~~Recognition~~loan from shareholder approximates its fair value due to their short-term maturity.

~~The Company recognizes revenue in accordance with ASC 606,~~ Revenue from Contracts. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts.Recognition

~~Basic~~The Company recognizes revenue in accordance with ~~Income~~ASC 606, Revenue from Contracts. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(~~Loss~~s) ~~Per~~with ~~Share~~a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. Specifically, Section 606-10-50 requires an entity to provide information about: a. Revenue recognized from contracts with customers, including the disaggregation of revenue into appropriate categories; b. Contract balances, including the opening and closing balances of receivables, contract assets, and contract liabilities; c. Performance obligations, including when the entity typically satisfies its performance obligations and the transaction price that is allocated to the remaining performance obligations in a contract; d. Significant judgments, and changes in judgments, made in applying the requirements to those contracts.

~~The Company computes income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”.~~ Basic ~~loss~~Income ~~per share is computed by dividing net income~~ (~~loss~~Loss) ~~available~~Per to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2023, there were no potentially dilutive debt or equity instruments issued or outstanding. Share

~~Comprehensive~~The Company computes income (loss) per share in ~~Income~~accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of July 31, 2023, there were no potentially dilutive debt or equity instruments issued or outstanding.

Comprehensive income is defined as all changes in stockholders’ equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-~~for~~5-~~sale securities. For the three months ended October 31, 2023, the comprehensive loss was $13,216, the same as that of the net loss which contains the foreign currency translation gain/loss of $0.~~

~~-5-~~Table of Contents

~~Table~~Comprehensive ~~of Contents~~Income

~~Stock~~Comprehensive income is defined as all changes in stockholders’ equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-~~Based~~for-sale securities. For the six months ended January 31, ~~Compensation~~2024, the comprehensive loss was $26,235, the same as that of the net loss which contains the foreign currency translation gain/loss of $0.

~~Recent~~Stock-based compensation is accounted for at fair ~~Accounting~~value ~~Pronouncements~~in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

~~We have~~Recent ~~reviewed~~Accounting ~~all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.~~Pronouncements

~~Off-Balance~~We have reviewed all the recently issued, but not ~~Sheet~~yet ~~Arrangements~~effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

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

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

~~As a~~Contractual ~~“smaller reporting company” as defined by Rule 12b-2 of the Exchange Act, the Company is not required to provide this information.~~Obligations

~~Item~~As a “smaller reporting company” as ~~3. Quantitative~~defined ~~and~~by ~~Qualitative~~Rule ~~Disclosures~~12b-2 ~~about~~of ~~Market~~the ~~Risk~~Exchange Act, the Company is not required to provide this information.

~~As a “smaller reporting company” as defined by~~ Item 103. ofQuantitative ~~Regulation~~and ~~S-K,~~Qualitative ~~the~~Disclosures ~~Company~~about isMarket ~~not required to provide information required by this Item~~Risk.

~~Item~~As a “smaller reporting company” ~~4. Controls~~as ~~and~~defined ~~Procedures~~by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

~~Evaluation of~~Item ~~Disclosure~~4. Controls and Procedures.

InEvaluation ~~connection with the preparation~~ of this quarterly report, an evaluation was carried out by the Company’s management, with the participation of the principal executive officer and the principal financial officer, of the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act (“Exchange Act”) as of October 31, 2023. Disclosure ~~controls~~Controls and procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Commission’s rules and forms, and that such information is accumulated and communicated to management, including the principal executive officer and the principal financial officer, to allow timely decisions regarding required disclosures.Procedures

~~Based~~In connection onwith ~~that~~the ~~evaluation~~preparation of this quarterly report, an evaluation was carried out by the Company’s management ~~concluded~~, aswith the participation of the ~~end~~principal ofexecutive ~~the~~officer ~~period~~and ~~covered~~the byprincipal ~~this~~financial ~~report~~officer, ~~that~~of the effectiveness of the Company’s disclosure controls and procedures ~~were~~(as ~~not~~defined ~~effective~~ in ~~recording,~~Rules ~~processing,~~13a-15(e) ~~summarizing~~and 15d-15(e) under the Exchange Act (“Exchange Act”) as of January 31, 2024. Disclosure controls and ~~reporting~~procedures are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Commission’s rules and forms, and that such information ~~was~~is ~~not~~ accumulated and communicated to management, including the principal executive officer and the principal financial officer, to allow timely decisions regarding required disclosures.

~~Management~~Based on that evaluation, the Company’s ~~Report~~management onconcluded, ~~Internal~~as ~~Control~~of ~~over~~the ~~Financial~~end ~~Reporting~~of the period covered by this report, that the Company’s disclosure controls and procedures were not effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Commission’s rules and forms, and that such information was not accumulated and communicated to management, including the principal executive officer and the principal financial officer, to allow timely decisions regarding required disclosures.

~~Change~~Management’s inReport on Internal Control over Financial Reporting

~~During the~~Change ~~quarter ended October 31, 2023, there has been no changes~~ in ~~internal~~Internal ~~control~~Control over ~~financial~~Financial ~~reporting that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.~~Reporting

~~PART~~During the quarter ended January 31, 2024, there has been IIno -changes ~~OTHER~~in ~~INFORMATION~~internal control over financial reporting that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

~~Item 1. Legal Proceedings.~~-6-

~~There are~~Table ~~presently no material pending legal proceedings to which the Company, any executive officer, any owner~~ of record or beneficially of more than five percent of any class of voting securities is a party or as to which any of its property is subject, and no such proceedings are known to the Company to be threatened or contemplated against it.Contents

PART II -6- OTHER INFORMATION

~~Table~~Item of1. ~~Contents~~Legal Proceedings.

~~Item~~There are presently no material ~~1A.~~pending ~~Risk~~legal ~~Factors~~proceedings to which the Company, any executive officer, any owner of record or beneficially of more than five percent of any class of voting securities is a party or as to which any of its property is subject, and no such proceedings are known to the Company to be threatened or contemplated against it.

~~As a “smaller reporting company” as defined by~~ Item 101A. ofRisk ~~Regulation S-K, the Company is not required to provide information required by this Item~~Factors.

~~Item~~As a “smaller 2.reporting ~~Unregistered~~company” ~~Sale~~as defined by Item 10 of ~~Equity~~Regulation ~~Securities~~S-K, ~~and~~the ~~Use~~Company ofis ~~Proceeds~~not required to provide information required by this Item.

~~None~~Item 2. Unregistered Sale of Equity Securities and Use of Proceeds.

~~Item 3~~None. ~~Defaults Upon Senior Securities.~~

~~None~~Item 3. Defaults Upon Senior Securities.

~~Item 4~~None. ~~Mine Safety Disclosures.~~

~~Not applicable~~Item to4. ~~our~~Mine ~~Company~~Safety Disclosures.

~~Item~~Not applicable ~~5. Other~~to ~~Information~~our Company.

~~None~~Item 5. Other Information.

~~Item 6. Exhibits.~~None

Exhibit		Description
31.1		Certification of the Company’s Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
32.1		Certification of the Company’s Principal Executive Officer and Principal Financial pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002+
101.INS		XBRL INSTANCE DOCUMENT*
101.SCH		XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT*
101.CAL		XBRL TAXONOMY CALCULATION LINKBASE DOCUMENT*
101.DEF		XBRL TAXONOMY DEFINITION LINKBASE DOCUMENT*
101.LAB		XBRL TAXONOMY LABEL LINKBASE DOCUMENT*
101.PRE		XBRL TAXONOMY PRESENTATION LINKBASE DOCUMENT*

Item 6. Exhibits.

+ In accordance with SEC Release 33-8238, Exhibit 32.1 is being furnished and not filed.

Exhibit		Description
31.1		Certification of the Company’s Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*

32.1		Certification of the Company’s Principal Executive Officer and Principal Financial pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002+

101.INS		XBRL INSTANCE DOCUMENT*

101.SCH		XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT*

101.CAL		XBRL TAXONOMY CALCULATION LINKBASE DOCUMENT*

101.DEF		XBRL TAXONOMY DEFINITION LINKBASE DOCUMENT*

101.LAB		XBRL TAXONOMY LABEL LINKBASE DOCUMENT*

101.PRE		XBRL TAXONOMY PRESENTATION LINKBASE DOCUMENT*

*+ ~~Filed~~In ~~herewith~~accordance with SEC Release 33-8238, Exhibit 32.1 is being furnished and not filed.

~~-7-~~* Filed herewith.

~~Table of Contents~~-7-

Table of Contents ~~SIGNATURES~~

~~Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~SIGNATURES

Date: December 13, 2023	BRILLIANT N.E.V. CORP.
	/s/ Xiangying Meng
	Xiangying Meng Chief Financial Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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Date: March __, 2024	BRILLIANT N.E.V. CORP.

	/s/ Xiangying Meng
	Xiangying Meng Chief Financial Officer

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Filing Compare · BRILLIANT N.E.V. CORP.