v3.26.1
Due to Related Parties
12 Months Ended
Feb. 28, 2026
Related Party Transactions [Abstract]  
Due to related parties
5.
Due to Related Parties
 
a)
On March 24, 2021, the Company entered into a promissory note with the Chief Executive Officer (
CEO
) of the Company for $10,000, which is unsecured, bears interest of 10% per annum and matured on March 24, 2022. As at February 28, 2026, the outstanding principal is $10,000 (2025
$10,000) and the Company has recognized accrued interest of $4,937 (2025
$3,937), which is included in due to related parties.
 
b)
On September 7, 2021, the Company entered into a promissory note with the CEO of the Company for $10,000, which is unsecured, bears interest of 10% per annum and matured on March 7, 2022. As at February 28, 2026, the outstanding principal is $10,000 (2025
$10,000) and the Company has recognized accrued interest of $4,479 (2025
$3,479) which is included in due to related parties.
 
c)
On February 11, 2022, the Company entered into a promissory note with the CEO of the Company for $20,000, which is unsecured, bears interest of 10% per annum and matured on February 11, 2023. As at February 28, 2026, the outstanding principal is $20,000 (2025
$20,000) and the Company has recognized accrued interest of $8,099 (2025
$6,099), which is included in due to related parties.
 
d)
On April 14, 2021, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $26,000, which is unsecured, bears interest of 10% per annum and matured on October 13, 2023. As at February 28, 2026, the outstanding principal is $nil (2025
$26,000) and the Company has recognized accrued interest of $nil (2025
$10,087), which is included in due to related parties. On October 17, 2025, the Company issued 140,007 shares of common stock with a fair value of $196,010 to settle the outstanding principal of $26,000 and accrued interest of $11,732, resulting in a loss on settlement of debt of $158,278 (Note 8(b).
 
e)
On February 11, 2022, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $130,000, which is unsecured, bears interest of 10% per annum and matures on February 11, 2023. As at February 28, 2026, the outstanding principal is $nil (2025
$130,000) and the Company has recognized accrued interest of $nil (2025
$39,641), which is included in due to related parties. On October 17, 2025, the Company issued 659,993 shares of common stock with a fair value of $923,990 to settle the outstanding principal of $130,000 and accrued interest of $47,868, resulting in a loss on settlement of debt of $746,122 (Note 8(b)
 
f)
During the year ended February 28, 2022, a third-party lender purchased a promissory note from a company controlled by a significant shareholder of the Company in the amount of $15,000, which is unsecured, bears interest of 10% per annum and matured on October 13, 2023. As at February 28, 2026, the outstanding principal is $15,000 (2025
$15,000) and the Company has recognized accrued interest of $7,319 (2025
$5,819), which is included in due to related parties.
 
g)
On May 2, 2022, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $25,000, which is unsecured, bears interest of 10% per annum and matured on March 2, 2023. As at February 28, 2026, the outstanding principal is $25,000 (2025
$25,000) and the Company has recognized accrued interest of $9,575 (2025
$7,075), which is included in due to related parties.
 
h)
On September 9, 2022, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $15,000, which is unsecured, bears interest of 10% per annum and matured on September 9, 2023. As at February 28, 2026, the outstanding principal is $15,000 (2025
$15,000) and the Company has recognized accrued interest of $5,211 (2025
$3,711), which is included in due to related parties.
 
i)
On January 31, 2025, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $50,000, which is unsecured, bears interest of 10% per annum and matured on January 31, 2027. As at February 28, 2026, the outstanding principal is $50,000 (2025 - $50,000) and the Company has recognized accrued interest of $5,383 (2025 - $383), which is included in due to related parties.
 
j)
On March 3, 2025, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $50,000, which is unsecured, bears interest of 10% per annum and matures on March 3, 2027. As at February 28, 2026, the outstanding principal is $50,000 and the Company has recognized accrued interest of $4,959, which is included in due to related parties.
 
k)
On May 9, 2025, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $29,000, which is unsecured, bears interest of 10% per annum and matures on May 9, 2027. As at February 28, 2026, the outstanding principal is $29,000 and the Company has recognized accrued interest of $2,344, which is included in due to related parties.
 
l)
On May 22, 2025, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $41,000, which is unsecured, bears interest of 10% per annum and matures on May 22, 2027. As at February 28, 2026, the outstanding principal is $41,000 and the Company has recognized accrued interest of $3,168, which is included in due to related parties.
 
 
 
 
m)
On July 23, 2025, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $50,000, which is unsecured, bears interest of 10% per annum and matures on July 23, 2027. As at February 28, 2026, the outstanding principal is $50,000 and the Company has recognized accrued interest of $3,014, which is included in due to related parties.
 
n)
On September 12, 2025, the Company entered into a promissory note with a company controlled by a significant shareholder of the Company for $50,000, which is unsecured, bears interest of 10% per annum and matures on September 12, 2027. As at February 28, 2026, the outstanding principal is $50,000 and the Company has recognized accrued interest of $2,315, which is included in due to related parties.
 
o)
As at February 28, 2026, the Company owes a total of $681 (2025
$600) to officers of the Company for advances, which are unsecured, non-interest bearing and due on demand.
 
p)
During the year ended February 28, 2026, the Company incurred salary expenses of $114,294 (R1,992,741) (2025
$108,028 (R1,973,032) to the CEO of the Company.
 
q)
During the year ended February 28, 2026, the Company incurred directors
fees of $67,000 (2025
$91,875) to a Director of the Company pursuant to a Director Agreement (Note 10(a).
 
r)
During the year ended February 28, 2026, the Company incurred directors
fees of $5,162 (R90,000) (2025
$4,928 (R90,000) to a Director of the Company.
 
s)
During the year ended February 28, 2026, the Company incurred director fees of $70,000 (2025 - $70,000) to the Director and former Chief Operating Officer (
COO
) of the Company pursuant to a Director and Officer Agreement (Note 10(b).