NOTE 7 – NOTES PAYABLE TO SHAREHOLDER |
12 Months Ended | ||||||
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Mar. 31, 2025 | |||||||
| Debt Disclosure [Abstract] | |||||||
| NOTE 7 – NOTES PAYABLE TO SHAREHOLDER | NOTE 7 – NOTES PAYABLE TO SHAREHOLDER
The Company has historically received funding from a shareholder through the issuance of promissory notes. As of March 31, 2024, the Company had various promissory notes due to the shareholder with an aggregate principal balance of $594,164, all bearing interest at 10% per annum, and with maturity dates ranging from six to 24 months from the date of issuance.
During the year ended March 31, 2025, all the previous notes payable to shareholder were consolidated into two notes, one in Canadian Dollars and the other in US Dollars. New promissory notes were issued for principal amount of $555,728 CND ($403,177 USD) and $65,928 respectively, due September 30, 2025.
These notes are unsecured and bear interest at ten (10) percent per annum with principal and interest due six after the date of issue.
Future annual minimum principal only payments for shareholders notes are as follow:
Aggregate interest expenses were $48,260 and $58,504 during the years ended March 31, 2025 and 2024, which is included in Notes at March 31,2025.
Currently, there are no secured interests in the Company or liens filed against the Company.
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