RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
May 31, 2026 | |
| RELATED PARTY TRANSACTIONS | |
| RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS
In support of the Company’s efforts and cash requirements, it must rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its common stock or traditional debt financing. There is no formal written commitment for continued support by shareholders. The advances are considered temporary in nature and have not been formalized by a promissory note. The Company had an outstanding loan of $834,225 and $ 815,635 due to its CEO, Ms. Yan Li as of May 31, 2026, and February 28, 2026, respectively. The loans are non-interest bearing, due upon demand and unsecured.
Wang LSC Consulting LLC, which is owned by the CFO is providing accounting service to the Company at an annual service fee of $19,000. The expenses incurred for the three months ended May 31, 2026 is $4,000.
From November 2017, the Company started to purchase cosmetic products from two related parties controlled by our CEO. The Company purchased a total of $47,643 of inventory from two related parties which was sold during the year ended February 29, 2020, the accounts payable balance of which remained outstanding as of May 31, 2026 and February 28, 2026. |