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| RELATED PARTY TRANSACTIONS | NOTE 8 - RELATED PARTY TRANSACTIONS
Effective May 19, 2025, the Company has accepted the resignation of Mr. Jiang Libin from his position as President, CEO, CFO, the Chairman of the Board of Directors, Treasurer, Secretary and as a Director of the Company.
Also effective May 19, 2025, the Company announced the appointment of Mr. Zhang Hong as the President, CEO, CFO, the Chairman of the Board of Directors, Treasurer, Secretary. Since December 12, 2015, he has served as the director of the Company.
On March 31, 2025, the Company entered an agreement with Mr. Jiang, Libin, the former President and CEO of the Company, accepting Mr. Jiang, Libin’s forgiveness of debt in the total amount of $2,103,762, including loans of $1,553,641 and salary payable of $550,121.
During the three months ended June 30, 2026, Mr. Zhang Hong, the President and a director of the Company, had advanced the Company $40,385 for operating expenses, received $23,244 from the Company as repayment, and received advance of $23,507 from the Company. Due to the right of offset through agreement between Mr. Zhang Hong, the Company and the Company’s subsidiaries, balances due from Mr Zhang Hong and balances due to Mr Zhang Hong have been netted. The outstanding balance was $32,083 due to Mr. Zhang Hong after offsetting as of June 30, 2026. These advances have been formalized by non-interest-bearing demand notes.
During three months ended June 30, 2025, Mr. Zhang Hong, the President and a director of the Company, had advanced the Company $17,723 for operating expenses, and received $0 from the Company as repayment. These advances have been formalized by non-interest-bearing demand notes.
During three months ended June 30, 2026, the Company has no transaction with Mr. Huang Jing.
During three months ended June 30, 2025, Mr. Huang Jing had advanced the Company $338 for operating expenses, and received $0 from the Company as repayment. These advances have been formalized by non-interest-bearing demand notes.
As of June 30, 2026, the accrued salary payable to Mr. Zhang Hong and Ms. Huang Jing were $70,000 and $12,543 respectively.
As of March 31, 2026, the accrued salary payable to Mr. Zhang Hong and Ms. Huang Jing were $55,000 and $12,330 respectively.
As of June 30, 2026 and March 31, 2026 the Company owed $32,083 and $38,222 to Mr. Zhang Hong respectively.
As of June 30, 2026 and March 31, 2026 the Company owed $355 and $350 to Ms. Huang Jing respectively.
The amounts due to related parties are the repayment on demand, non-interest bearing, and unsecured.
Below is a summary of the gross balances before the offset:
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