v3.25.2
NOTES PAYABLE
 9 Months Ended
Jun. 30, 2025
Nonrelated Party [Member]  
Defined Benefit Plan Disclosure [Line Items]  
NOTES PAYABLE

8. NOTES PAYABLE

 

Notes payable consisted of the following:

 

  

June 30, 2025

  

September 30, 2024

 
         
Bostonia Partners, Inc.  $-   $48,500 
Conventry Enterprises LLC      -    250,000 
           
Total notes payable   -    248,500 
           
Less – Accumulated amortization   -    (46,389)
           
Toal notes payable  $-   $252,211 

 

The terms of the notes payable are as follows:

 

  ● Bostonia Partners, Inc.
     
    In 2023, the Company borrowed $50,000 with interest at 10% per annum due in March 2024. In October 2024 this note payable of $48,500 was amended into convertible note.
     
  ● Conventry Enterprises LLC
     
    On September 4, 2024, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with Coventry Enterprises, LLC (“Coventry”), pursuant to which Coventry Enterprises purchased a 10% unsecured promissory Note (the “Note”) from the Company in the principal amount of $250,000 of which $25,000 was retained by Coventry through an Original Issue Discount. The Note carries “Guaranteed Interest” on the principal amount at the rate of 10% per annum for the ten 10 month term of the Note for an aggregate Guaranteed Interest $25,000. The Principal Amount and the Guaranteed Interest shall be due and payable in ten equal monthly payments $27,500 commencing on November 4, 2024, and continuing on the fourth day of each month thereafter until paid in full not later than September 4, 2025.
     
    In the first quarter of fiscal year 2025 this note payable of $250,000 was reclassified as a convertible note in accordance with terms and conditions of default provisions of the Note.