RELATED PARTY TRANSACTIONS |
9 Months Ended |
|---|---|
Apr. 30, 2025 | |
| RELATED PARTY TRANSACTIONS | |
| RELATED PARTY TRANSACTIONS | NOTE 5 - RELATED PARTY TRANSACTIONS
During the nine months ended April 30, 2025, and 2024, related parties financed $21,398 and $58,500 for operation expenses and repaid related parties’ loan of $73,003 and $33,351, respectively.
As of April 30, 2025, and July 31, 2024, the Company was obliged for unsecure, non-interest-bearing demand loans to four related parties, with balances of $12,889 and $64,495 respectively.
During the nine months ended April 30, 2025, and 2024, the Company recognized $4,750 and $2,659 interest on related party balances and imputed in additional paid-in-capital, respectively.
During the nine months ended April 30, 2025 and 2024, the Company recognized and paid $0 and $56,000 of salary to a member of the board of directors for services rendered to the Company, respectively.
During the nine months ended April 30, 2025, and 2024, the Company paid $0 and $30,475 salary to Robin Fuller Jennings the Company’s corporate secretary – related party, respectively.
During the nine months ended April 30, 2025, and 2024, the Company recognized salary of $150,000 and $0 and paid salary of $78,500 and $0 to the Company’s president.
On March 1, 2022, the Company entered in a consulting agreement in the field of Healthcare with a monthly payment of $8,333, with First DP Ventures, LP. The services were performed by a member of the Company’s board of directors. During the nine months ended April 30, 2025 and 2024, the Company generated revenues of $0 and $66,667, respectively. On March 29, 2024, the consulting agreement was terminated, and the result of Healthcare operations was recognized as discontinued operations (Note 4). During the nine months ended April 30,2025 and 2024, the Company incurred cost of revenues of $0 and $62,743 related to payroll expenses for to a member of the Company’s board of directors, who performed the consulting services in connection with the First DP Ventures LP agreement (Note 4).
During the nine months ended April 30, 2025, and 2024 the Company generated revenues of $115,153 and $0 from sales of material to a company controlled by a related party.
During the nine months ended April 30, 2025, and 2024, the Company incurred cost of revenues of $20,750 and $0 from services rendered by a subcontractor controlled by a related party.
As of April 30, 2025, and July 31, 2024, the Company was obliged for accounts payable to one related party, with balances of $1,650 and $0, respectively |