RELATED PARTY BALANCES AND TRANSACTIONS |
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| RELATED PARTY BALANCES AND TRANSACTIONS | NOTE 3 - RELATED PARTY BALANCES AND TRANSACTIONS
During 2021, SleepX borrowed from Nexense Technologies USA, Inc., a Delaware corporation which is majority owned by Boris Molchadsky, a director of the Company, an aggregate amount of $47,623. According to the agreement, the loan shall be repaid in the event that the Company’s profits are sufficient to repay the aggregate loan amount and upon such terms and in such installments as shall be determined by the Board. The loan shall bear interest at an annual rate equal to the minimum rate approved by applicable law in Israel (5.02% in 2026).
During 2020, the minority shareholder of Ta-nooma advanced a loan to Ta-nooma in the amount of NIS 115,725. The loan does not carry any interest expense and the repayment terms have yet to be determined. As of June 30, 2026, the loan balance amounted to NIS 115,725 ($34,319).
Directors of the Company do not receive compensation for their directorship roles as such. Company’s Bylaws provide that a director or officer shall be indemnified and held harmless by the Corporation, to the fullest extent permitted by the laws of the State of Nevada.
TECHLOTT INC. NOTES TO THE UNAUDITED FINANCIAL STATEMENTS
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