RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS The Company purchased assets from the Company’s current Chief Executive Officer (“CEO”) and Secretary/Treasurer (see note 6). Related Party Advances The Company’s former Chief Financial Officer (“CFO”) has historically advanced the Company monies for operating expenses; Advances during the nine-month period December 31, 2021 and 2020 were $455 and $0, respectively. The related party advances totaled $ and $ as of December 31, 2021 and March 31, 2021, respectively. The advances are due on demand. The related party advances accrue interest at ten (10) percent per annum. Repayment is due no later than June 30, 2023. Interest expense was $ and $ during the nine-month periods ended December 31, 2021 and 2020, respectively. Note Payables to Shareholders As at December 31, 2021 and March 31, 2021, the Company had various promissory notes with total outstanding principal balances of $468,607 and $374,271, respectively, due to a shareholder of the Company. These notes are unsecured, bear interest at 10% per annum, and have maturity dates ranging from January 20, 2022 to December 30, 2023. On April 15, 2021, one note to a shareholder that was originally due on April 15, 2021 with a principal amount of approximately $72,000 ($90,000 Canadian Funds) was reissued in the principal amount of approximately $86,000 ($108,000 Canadian Funds) which included the original principal amount plus interest accrued as at April 15, 2021 in the amount of approximately $14,000 ($18,000 Canadian Funds). Repayment of the note is due no later than April 15, 2023. On October 11, 2021 one note to a shareholder that was originally due on October 11, 2021 with a principal amount of $10,000 was reissued in the principal amount of $12,000 which included the original principal plus interest accrued as at October 11, 2021 in the amount of $2,000. Repayment of the note is due no later than October 11, 2023. On October 21, 2021, one note to a shareholder that was originally due on October 21, 2021 with a principal amount of $30,000 was reissued in the principal amount of $36,000 which included the original principal plus interest accrued as at October 21, 2021 in the amount of $6,000. Repayment of the note is due no later than October 21, 2023. On October 25, 2021, one note to a shareholder that was originally due on October 25, 2021 with a principal amount of $24,500 was reissued in the principal amount of $29,400 which included the original principal plus interest accrued as at October 25, 2021 in the amount of $4,900. Repayment of the note is due no later than October 25, 2023. On December 9, 2021, one note to a shareholder that was originally due on December 9, 2021 with a principal amount of approximately $4,000 ($5,000 Canadian Funds) was reissued in the principal amount of approximately $5,000 ($6,000 Canadian Funds) which included the original principal plus interest accrued as at December 9, 2021 in the amount of approximately $758 ($1,000 Canadian Funds). Repayment of the note is due no later than December 9, 2023. During the nine-month period ended December 31, 2021, a shareholder was issued additional eight (8) promissory notes totaling $67,082 ($86,500 Canadian Funds). These notes are unsecured and bear interest at ten (10) percent per annum with principal and interest due twenty-four (24) months after the date of issue. Accrued interest was $42,676 and $33,132 as of December 31, 2021 and March 31, 2021, respectively, which is included in other accrued liabilities. |