NOTES PAYABLE – RELATED PARTIES

9 Months Ended

Apr. 30, 2025

NOTE 5 – NOTES PAYABLE – RELATED PARTIES

The following represents a summary of the Company’s notes payable – related parties at April 30, 2025 and July 31, 2024:

					Default
Issue Date Date	Maturity Date	Interest Rate			Interest Rate			Collateral		Related Party	April 30, 2025		July 31, 2024

August 2023	August 2024		10	%		20	%		Unsecured	Chief Executive Officer/Director	$	-	$	40,000
August 2023	August 2024		10	%		20	%		Unsecured	President/Director		-		40,000
											$	-	$	80,000

The Company had the following activity related to its note payable – related parties during the nine months ended April 30, 2025:

Balance - July 31, 2023	$	80,000
No activity		-
Balance - July 31, 2024		80,000
Activity – note repayments		(80,000	)
Balance – April 30, 2025	$	-

Pursuant to the agreement associated with the transition to current management on April 9, 2025, the Company repaid $80,000 in settlement of the notes payable due to related parties. As part of the settlement agreement, the holders of the notes payable due to related parties agreed to forgive all accrued interest in connection with these notes. As the forgiveness of the accrued interest was a related party transaction, the gain of $19,033, was recorded in additional-paid-in-capital.

Interest expense on related party notes for the three- and nine-months ended April 30, 2025, was recognized in the amount of $2,992 and $11,035, respectively.