Related Party Transactions Disclosure |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Related Party Transactions Disclosure | NOTE 8 - RELATED PARTY TRANSACTIONS
The related parties had transactions for the three months ended June 30, 2026, consisting of the following:
As of June 30, 2026, balances due to related parties only represent amounts payable for consulting and professional services provided by the shareholders, not loans or advances as no loans and advances have been received from related parties.
During the nine months ended June 30, 2026, the Company incurred $2,686,909 in consulting and professional services fees with related parties, which are included in consulting and legal and professional services expense in the accompanying condensed statement of operations. During the period, the Company made cash payments of $365,150 to related parties, which were applied against amounts due. Accordingly, the balance due to related parties increased from $232,285 as of September 30, 2025, to $2,554,044 as of June 30, 2026.
During the three months ended June 30, 2026, the Company incurred $1,186,250 in consulting and professional service fees with related parties, which are included in consulting and legal and professional services expense in the accompanying condensed statement of operations. During the period, the Company made cash payments of $79,600 to related parties, which were applied against amounts due. As a result, the balance due to related parties increased by $1,146,650 during the quarter. |
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