v3.26.1
Due to Related Parties
3 Months Ended
May 31, 2026
Related Party Transactions [Abstract]  
Due to related parties
5.
Due to Related
Par
ties
 
a)
On March 24, 2021, the Company entered into a promissory note with the Company’s Chief Executive Officer (“CEO”)  for $10,000, which is unsecured, bears interest of 10% per annum and matured on March 24, 2022. On May 28, 2026, the maturity date was extended to
September 17, 2027
. As at May 31, 2026, the outstanding principal is $10,000 (February 28, 2026 – $10,000) and the Company has recognized accrued interest of $5,189 (February 28, 2026 – $4,937), which is included in due to related parties. 
 
b)
On September 7, 2021, the Company entered into a promissory note with the Company’s CEO for $10,000, which is unsecured, bears interest of 10% per annum and matured on March 7, 2022. On May 28, 2026, the maturity date was extended to September 17, 2027. As at May 31, 2026, the outstanding principal is $10,000 (February 28, 2026 – $10,000) and the Company has recognized accrued interest of $4,732 (February 28, 2026 – $4,479) which is included in due to related parties.
 
c)
On February 11, 2022, the Company entered into a promissory note with the Company’s CEO for $20,000, which is unsecured, bears interest of 10% per annum and matured on February 11, 2023. On May 28, 2026, the maturity date was extended to September 17, 2027. As at May 31, 2026, the outstanding principal is $20,000 (February 28, 2026 – $20,000) and the Company has recognized accrued interest of $8,603 (February 28, 2026 – $8,099), which is included in due to related parties.
 
d)
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 May 31, 2026, the outstanding principal is $15,000 (February 28, 2026 – $15,000) and the Company has recognized accrued interest of $7,697 (February 28, 2026 – $7,319), which is included in due to related parties. As at May 31, 2026, the promissory note is in default.
 
e)
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 May 31, 2026, the outstanding principal is $25,000 (February 28, 2026 – $25,000) and the Company has recognized accrued interest of $10,206 (February 28, 2026 – $9,575), which is included in due to related parties. As at May 31, 2026, the promissory note is in default.
 
f)
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 May 31, 2026, the outstanding principal is $15,000 (February 28, 2026 – $15,000) and the Company has recognized accrued interest of $5,589 (February 28, 2026 – $5,211), which is included in due to related parties. As at May 31, 2026, the promissory note is in default.
 
g)
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 matures on January 31, 2027. As at May 31, 2026, the outstanding principal is $50,000 (February 28, 2026 - $50,000) and the Company has recognized accrued interest of $6,643 (February 28, 2026 - $5,383), which is included in due to related parties.
 
h)
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 May 31, 2026, the outstanding principal is $50,000 (February 28, 2026 – $50,000) and the Company has recognized accrued interest of $6,219 (February 28, 2026 – $4,959), which is included in due to related parties.
 
i)
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 May 31, 2026, the outstanding principal is $29,000 (February 28, 2026 – $29,000) and the Company has recognized accrued interest of $3,075 (February 28, 2026 – $2,344), which is included in due to related parties.
 
j)
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 May 31, 2026, the outstanding principal is $41,000 (February 28, 2026 – $41,000) and the Company has recognized accrued interest of $4,201 (February 28, 2026 - $3,168), which is included in due to related parties.
 
k)
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 May 31, 2026, the outstanding principal is $50,000 (February 28, 2026 - $50,000) and the Company has recognized accrued interest of $4,274 (February 28, 2026 - $3,014), which is included in due to related parties.
 
l)
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 May 31, 2026, the outstanding principal is $50,000 (February 28, 2026 - $50,000) and the Company has recognized accrued interest of $3,575 (February 28, 2026 - $2,315), which is included in due to related parties.
 
m)
On March 17, 2026, 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 17, 2029. As at May 31, 2026, the outstanding principal is $50,000 and the Company has recognized accrued interest of $1,027, which is included in due to related parties.
 
n)
On May 29, 2026, 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 matures on May 29, 2029. As at May 31, 2026, the outstanding principal is $25,000 and the Company has recognized accrued interest of $14, which is included in due to related parties.
 
o)
As at May 31, 2026, the Company owes a total of $665 (February 28, 2026 – $681) to officers of the Company for advances, which are unsecured, non-interest bearing and due on demand.
 
p)
During the three months ended May 31, 2026, the Company incurred salary expenses of $30,027 (R498,185) (2025 – $27,058 (R498,185)) to the CEO of the Company.
 
q)
During the three months ended May 31, 2026, the Company incurred directors’ fees of $16,750 (2025 – $16,750) to a Director of the Company pursuant to a Director Agreement (Note 10(a)).
 
r)
During the three months ended May 31, 2026, the Company incurred directors’ fees of $904 (R15,000) (2025 – $815 (R15,000)) to a Director of the Company.
 
s)
During the three months ended May 31, 2026, the Company incurred director fees of $17,500 (2025 - $17,500) to the Director and former Chief Operating Officer (“COO”) of the Company pursuant to a Director and Officer Agreement (Note 10(b)).