5. RELATED PARTY TRANSACTIONS |
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| 5. RELATED PARTY TRANSACTIONS | 5.RELATED PARTY TRANSACTIONS
In terms of related party transactions, Streamline and Glidelogic Corp. share the same ultimate controlling persons – Mr. Dapeng Ma and Mr. Yitian Xue. While they hold majority interest in Streamline, together they own 100% of Star Success Business, LLC (SSB), which owns 75% of Glidelogic’s interest.
On February 1, 2025, Glidelogic executed separate Promissory Note Amendments with Streamline, Dapeng Ma, Yitian Xue, and Star Success Business extending the maturity date of each loan to January 31, 2026. Under the amended terms, all outstanding loans will remain interest-free until January 31, 2026. Thereafter, a simple annual interest rate of 3% will apply, calculated on a 365-day year basis. Interest will begin accruing from February 1, 2026, until the loan is repaid. The terms may be renegotiated upon mutual agreement.
The related party transactions are as follows:
1)For the three months ended April 30, 2025, Streamline USA, Inc. loaned $800 to the Company within the fiscal quarter as depicted below. Since GDLG had no Note Payable balance to Streamline as of January 31, 2025, for the three months ended April 30, 2025, the Streamline Note Payable balance is $800, no repayment was made during this period.
2)For the three months ended April 30, 2025, Mr. Dapeng Ma (director of the Company) loaned $2,200 to the Company as depicted below. With the $5,000 Note Payable balance to Mr. Ma on January 31, 2025, the total Note Payable to Mr. Ma is $7,200 as of April 30, 2025, no repayment was made during this period.
3)For the three months ended April 30, 2025, Mr. Yitian Xue (director of the Company) loaned $33,274 to the Company as depicted below. The Company also made a total of $1,720 loan repayment to Mr. Xue during this period. Thus, with the $17,132 Note Payable balance to Mr. Ma on January 31, 2025, the total Note Payable to Mr. Xue is $48,686 as of April 30, 2025.
4)As of April 30, 2025, Parent company Star Success Business, LLC still has an inter-company loan agreement with GDLG. The total principal loan amount from SSB to GLDG is $5,000 as shown in the table below, no repayment was made during this period.
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