NOTE 3 - Line of Credit - Related Party |
9 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Notes | |
| NOTE 3 - Line of Credit - Related Party | NOTE 3 – Line of Credit – Related Party
On January 4, 2021, we entered into a revolving promissory note agreement with our president and principal stockholder. During the nine months ending June 30, 2026, the Company amended the revolving promissory note agreement to extend the maturity date to June 30, 2027 and increase the maximum principal indebtedness to $243,100. The revolving promissory note bears interest at the rate of 3.5%. The Company received proceeds under the line of credit of $26,500 and recorded interest expense of $4,811 during the nine months ended June 30, 2026, resulting in balances of $192,923 and $166,423, with accrued interest of $18,250 and $13,439, at June 30, 2026 and September 30, 2025, respectively.
On December 1, 2021, we entered into a revolving promissory note agreement with another principal stockholder. During the nine months ended June 30, 2026, the Company amended the revolving promissory note agreement to extend the maturity date to June 30,2027 and increase the maximum principal indebtedness to $42,900. The revolving promissory note bears interest at the rate of 3.5% per annum. The Company received proceeds under the line of credit of $6,000 and recorded interest expense of $838 during the nine months ended June 30, 2026, resulting in balances of $33,869 and $27,869, with accrued interest of $2,966 and $2,128, at June 30, 2026 and September 30, 2025, respectively. |