Loan Payable |
3 Months Ended |
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Jul. 31, 2026 | |
| Loan Payable [Abstract] | |
| LOAN PAYABLE | NOTE 10 — LOAN PAYABLE
On June 1, 2026, the Company’s subsidiary EcoLoopX entered into a short-term note payable agreement with a third-party company Magic Matrix Inc., for borrowing $200,000 at a fixed annual interest rate of 10% with maturity date on June 30, 2026. Under the terms of the agreement, any outstanding principle after the maturity date is subject to penalty interest at 15% per annum. On July 20, 2026, EcoLoopX repaid $50,000 of the outstanding principal. As of July 31, 2026, the remaining outstanding principal balance of the loan was $150,000 and accrued interest payable was $3,500. Interest expense of $3,500 was recognized during the three months ended July 31, 2026. On July 1, 2026, the Company and Magic Matrix Inc. entered a Loan Extension and Amendment Agreement to extend the maturity date of the loan to October 31, 2026. |
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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