PROMISSORY NOTE PAYABLE |
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| PROMISSORY NOTE PAYABLE | NOTE 9 - PROMISSORY NOTE PAYABLE
Promissory note payable on April 30, 2026, and April 30, 2025, consists of the following:
The terms of the promissory notes are summarized as follows:
During the year ended April 30, 2026, and 2025, the Company issued promissory notes for aggregate principal amount of $1,417,205 and $830,940 for proceeds of $1,334,500 and $755,400, respectively.
During the year ended April 30, 2026, and 2025, the Company made repayment on principal balance of promissory notes of $141,916 and $99,200 and accrued interest of promissory notes of $13,800 and $10,222, respectively.
During the year ended April 30, 2026, and 2025, the Company issued 3,777,999 shares and 340,000 shares of common stock for the repayment of $211,314 and $16,500 principal balance and $56,710 and $0 accrued interest of promissory notes, respectively. During the year ended April 30, 2025, the Company recorded gain on note settlement of $9,032 from the repayment.
During the year ended April 30, 2026, and 2025, the Company issued 1,772,750 shares and 3,099,000 shares of common stock as loan inducements for promissory notes, respectively.
During the year ended April 30, 2026, and 2025, the Company issued 2,270,179 shares and 4,516,317 shares of common stock for term extension for promissory notes.
During the year ended April 30, 2025, the Company issued 291,000 shares of common stock for interest and fees on a promissory note upon issuance of the notes.
During the year ended April 30, 2026, and 2025, the Company recorded stock payable of $33,167 and $7,151 for outstanding 428,000 common shares and 201,000 common shares for loan inducements of promissory notes, respectively.
During the year ended April 30, 2025, the Company recorded stock payable of $6,050 for outstanding 45,149 common shares for repayment of outstanding principal balance of promissory notes.
During the year ended April 30, 2026, and 2025, the Company recorded stock payable of $51,555 and $256,513 for outstanding 659,691 and 1,914,280 common shares related to term extension of promissory notes.
During the year ended April 30, 2026, and 2025, the Company recorded interest expenses of $201,137 and $238,228, respectively. During the year ended April 30, 2026, and 2025, the Company made repayment on note interest of $13,800 and $10,222, respectively. As of April 30, 2026, and April 30, 2025, the accrued interest payable was $551,996 and $421,368, respectively. |
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