PROMISSORY NOTE RELATED PARTY |
3 Months Ended |
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Jun. 30, 2025 | |
PROMISSORY NOTE RELATED PARTY | |
PROMISSORY NOTE - RELATED PARTY | NOTE 4 – PROMISSORY NOTE – RELATED PARTY
On December 31, 2016, the Company entered into a promissory note with a majority shareholder, Rise Fast Limited, for an amount of $240,683. The promissory note bears interest at a rate of 2% per annum and is payable on December 31, 2019.
On July 10, 2017, the Company, along with the holder of the promissory note to assigned $174,000 of the promissory note to four individuals not related to the Company. Refer to Note 7 for further details. On October 6, 2017, the Company issued 24,000,000 common shares to the holder of the promissory note for the assignment of the notes of $24,000.
On December 31, 2019, the maturity dates of the notes were extended for three years to December 31, 2022 and the interest rate was amended to 15% per annum.
As of June 30, 2025 and March 31, 2025, the promissory note payable was $42,683 and accrued interest payable was $39,971 and $38,375, respectively. |