v3.25.2
Advances – Related Party
12 Months Ended
Mar. 31, 2025
Advances - Related Party [Abstract]  
ADVANCES – RELATED PARTY

NOTE 6 — ADVANCES – RELATED PARTY

 

During the period from September 21, 2013 (inception) through March 31, 2024, the Company received advances of $65,308 from and made repayments of $4,065 to the Company’s Chief Executive Officer. In addition, the officer paid $47,800 on behalf of the Company to acquire equipment (See Note 4).

 

During the year ended March 31, 2025, the Company received advances of $170,505 from the Company’s Chief Executive Officer. On May 29, 2024, the Company issued 3,000,000 shares of common stock to the Chief Executive Officer in exchange for $300,000, or $0.10 per share, as follows: (i) a $100,000 reduction of the advances payable to the officer; and (ii) a subscription receivable of $200,000. On December 31, 2024, the outstanding $200,000 subscription receivable from the officer was satisfied as follows: (i) a $100,000 reduction of the advances payable to the officer; and (ii) compensation expense of $100,000 to the officer for the calendar year ended December 31, 2024 (See Note 8).

 

The advances are unsecured, non-interest bearing and due on demand and, therefore, no interest expense has been recognized or is due. As of March 31, 2025 and 2024, the balance due to the related party was $79,548 and $109,043, respectively, all of which is included in current liabilities (See Note 11).