v3.25.2
CONVERTIBLE DEBT
12 Months Ended
Apr. 30, 2025
CONVERTIBLE DEBT  
CONVERTIBLE DEBT

NOTE 6 - CONVERTIBLE DEBT

 

On March 10, 2016, the Company entered into a convertible promissory note for $17,000 with ACM Services GmbH, which bears interest at an annual rate of 6% and is convertible into shares of the Company’s common stock at $25 per share.  The Company recorded a debt discount and a beneficial conversion feature of $17,000 at the inception of the note. As of April 30, 2025 the balance of the notes was $7,000 plus interest.

 

On October 4, 2018, the Company entered into an agreement with RAB Investments AG to consolidate all RAB outstanding notes issued by the Company prior to October 31, 2018.  Under the terms of the agreement the Company agreed to accept a six percent interest to be calculated on all the notes since their inception.  The agreement resulted in a new note for $330,626 which included the additional interest and retired the original notes.  The Company issued shares of series A preferred with a value of $25,000 for payment against the convertible note.  On April 28, 2023, the Company issued 145,000 shares of common stock with a value of $7,250 for payment against the note. 

 

During the year ended April 30, 2025 the Company issued 1,250,000 shares of common stock to RAB Investments in a conversion of a notes payable, with a value of $62,500. As of April 30, 2025, the outstanding balance of the notes were $197,085 plus interest.

 

During the year ended April 30, 2024, the Company issued 1,262,617 shares of common stock in the conversion of $25,996 convertible notes and accrued interest.

 

As of April 30, 2025, and April 30, 2024, the convertible debt outstanding, net of discount, was $185,762 and $279,085.