v3.25.2
SUBSEQUENT EVENTS
 12 Months Ended
May 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

7. SUBSEQUENT EVENTS

 

In  accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before the financial statements are issued, the Company evaluated all events or transactions that occurred subsequent to May 31, 2025, through August 20, 2025, the date the financial statements were available to be issued.

 

On June 19, 2025, the Board of Directors approved the issuance of a total of 3,367,800 shares of the Company’s common stock to two creditors in full settlement of amounts payable as of February 28, 2025. The issuance included:

 

(1)3,298,500 shares issued to the Company’s Chief Executive Officer (a related party) in settlement of $32,985 in amounts due.

 

(2)69,300 shares issued to a non-related party in settlement of $693 in amounts due.

 

The issuance price of $0.01 per share was based on the recent market value of the Company’s common stock and agreed to by both parties. In connection with the transactions, both creditors released the Company from all related claims. The shares were issued pursuant to an exemption from registration under Section 3(a)(9) of the Securities Act of 1933, as amended. No commissions or other remuneration were paid in connection with these transactions.