RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS Accounts Payable and Accrued Expenses – Related Parties Accounts payable and accrued expenses to related parties, consisting primarily of consulting fees and expense reimbursements payable, totaled $1,236,256 and $1,030,523 as of July 31, 2024 and April 30, 2024, respectively. Effective July 1, 2019, we entered into a consulting agreement with Maple Resources Corporation (“Maple Resources”), a related party controlled by our President and CEO, that provides for payment of consulting fees and expense reimbursement related to business development, financing and other corporate activities. Effective March 1, 2021 the Maple Resources consulting agreement was amended to provide for monthly consulting fees of $20,000. During the three months ended July 31, 2024, we incurred consulting fees and expense reimbursement to Maple Resources totaling $65,176 and we made payments to Maple Resources of $27,475. In addition, the consulting agreement provides for the issuance to Maple Resources of shares of our common stock each month with a value of $5,000, with the number of shares issued based on the average closing price of the stock during the prior month. During the three months ended July 31, 2024 we recorded $15,000 for accrued consulting fees and we issued no shares for payment. During the three months ended July 31, 2024, Maple Resources made advances to $6,130 to assist the Company with cash flow challenges, we made payments to Maple Resources of $17,275 resulting in $0 still owed as of July 31, 2024. Amounts included in accounts payable and accrued expenses – related parties due to Maple Resources totaled $369,235 ($155,000 payable in stock) and $327,049 ($140,000 payable in stock) as of July 31, 2024 and April 30, 2024, respectively. During the three months ended July 31, 2024 and year ended April 30, 2024, Jack Hanks, our President and CEO, made advances of $2,500 and $2,190 to assist the Company with cash flows challenges, resulting in $5,493 and $2,190 included in accounts payable and accrued expenses – related parties as July 31, 2024 and April 30, 2024. Effective October 1, 2018, we entered into a consulting agreement with Leslie Doheny-Hanks, the wife of our President and CEO, to issue shares of our common stock each month with a value of $2,500, with the number of shares issued based on the average closing price of the stock during the prior month. The related party consultant provides certain administrative and accounting services and is reimbursed for expenses paid on behalf of the Company. During the three months ended July 31, 2024 we recorded $7,500 for the amount payable in stock under the consulting agreement and recorded expense reimbursements owed to Mrs. Hanks of $23,571. During the year ended April 30, 2024, Mrs. Hanks made advances of $5,845 to assist the Company with cash flow challenges, resulting in $5,845 still owed as of July 31, 2024. Amounts included in accounts payable and accrued expenses – related parties due to Mrs. Hanks totaled $183,704 ($77,500 payable in stock) and $152,633 ($70,000 payable in stock) as of July 31, 2024 and April 30, 2024, respectively. Effective February 1, 2021 the Company entered into consulting agreements with three children of our President and CEO, which were amended as of December 31, 2021 to continue on a month-to-month basis. During the three months ended July 31, 2024 we incurred $40,500 for fees and expense reimbursements to the children and we made payments of $3,400. Amounts included in accounts payable and accrued expenses – related parties due to the CEO’s children totaled $165,584 and $128,484 as of July 31, 2024 and April 30, 2024, respectively. Effective September 1, 2021, we entered into a consulting agreement with BNL Family Trust, a related party to Bruce Lemons, Director, to issue shares of our common stock each month with a value of $2,500, with the number of shares issued based on the average closing price of the stock during the prior month. During the three months ended July 31, 2024 we recorded $7,500 for the amount payable in stock under the consulting agreement, we incurred $5,200 for other consulting fees and made no payments. Amounts included in accounts payable and accrued expenses – related parties due to BNL Family Trust totaled $82,700 ($77,500 payable in stock) and $70,000 (all payable in stock) as of July 31, 2024 and April 30, 2024, respectively. Effective November 1, 2020, we entered into a consulting agreement with Nabil Katabi, a shareholder of more than ten percent, to provide for monthly consulting fees of $10,000 and to issue shares of our common stock each month with a value of $2,000, with the number of shares issues based on the average closing price of the stock during the prior month. Effective April 30, 2023 the consulting agreement was amended to provide for monthly consulting fees of $20,000 and to issue shares of our common stock each month with a value of $5,000, with the number of shares issues based on the average closing price of the stock during the prior month. During the three months ended July 31, 2024 we recorded $60,000 ($15,000 payable in stock) and $5,176 of other consulting fees. During the year ended April 30, 2024, Nabil Katabi made advances of $16,220 to assist the Company with cash flow challenges, resulting in $16,220 still owed as of July 31, 2024. Amounts included in accounts payable and accrued expenses - related parties due to Nabil Katabi totaled $429,540 and $349,364 as of July 31, 2024 and April 30, 2024, respectively. Convertible Notes Payable – Related Parties Convertible notes payable - related parties consist of the following: July 31, 2024 April 30, 2024 Convertible note payable with Maple Resources Corporation, matures on October 13, 2024, with interest at 5%, convertible into common shares of the Company [1] $ 50,000 $ 50,000 Less discount - - Total $ 50,000 $ 50,000 [1] This convertible note was entered into on October 13, 2023 in exchange for cash of $50,000 and is convertible into common shares of the Company at a conversion price equal to 110% of the lowest price at which the shares of common stock were issued by the Company during the twenty prior trading days, including the day upon which a notice of conversion is received by the Company. As of July 31, 2024 and April 30, 2024 accrued interest on the convertible note was $1,383 and $753, respectively. Notes Payable – Related Parties, Currently in Default Notes payable – related parties, currently in default consist of the following at: July 31, 2024 April 30, 2024 Note payable to a related party with an issue date of May 7, 2023 with interest at 18% [1] $ 11,800 $ - Note payable to a related party with an issue date of May 16, 2023 with interest at 18% [2] 4,720 - Note payable to a related party with an issue date of May 31, 2023 with interest at 18% [3] 7,552 - Note payable to a related party with an issue date of June 6, 2023 with interest at 18% [4] 5,900 - Note payable to a related party with an issue date of July 3, 2023 with interest at 18% [5] 5,900 - Total 35,872 Less discount - - Net $ 35,872 - [1] Effective May 7, 2023, the Company entered into a promissory note with Lake of Silver, LLC, a related party, through its wholly owned subsidiary, Pecos Clean Fuels & Transport, LLC. The note has a principal amount of $10,000 and a maturity date of May 7, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $1,800 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 156,739,812 warrants, thus $7,265 of the $10,000 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [2] Effective May 16, 2023, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party, through its wholly owned subsidiary, Pecos Clean Fuels & Transport, LLC. The note has a principal amount of $4,000 and a maturity date of May 16, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $720 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 62,695,925 warrants, thus $3,198 of the $4,000 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [3] Effective May 31, 2023, the Company entered into a promissory note with BNL Family Trust, a related party, through its wholly owned subsidiary, Pecos Clean Fuels & Transport, LLC. The note has a principal amount of $6,400 and a maturity date of May 31, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $1,152 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 100,313,480 warrants, thus $5,386 of the $6,400 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [4] Effective June 6, 2023, the Company entered into a promissory note with Nabil Katabi, a related party, through its wholly owned subsidiary, Pecos Clean Fuels & Transport, LLC. The note has a principal amount of $5,000 and a maturity date of June 6, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $900 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 78,369,906 warrants, thus $4,474 of the $5,000 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [5] Effective July 3, 2023, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party. The note has a principal amount of $5,000 and a maturity date of July 3, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $900 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with $5,000 consulting fee under a subscription agreement. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. Notes Payable – Related Parties Notes payable – related parties consist of the following at: July 31, 2024 April 30, 2024 Note payable to a related party with an issue date of May 7, 2023 with interest at 18% [1] $ - $ 11,800 Note payable to a related party with an issue date of May 16, 2023 with interest at 18% [2] - 4,720 Note payable to a related party with an issue date of May 31, 2023 with interest at 18% [3] - 7,552 Note payable to a related party with an issue date of June 6, 2023 with interest at 18% [4] - 5,900 Note payable to a related party with an issue date of July 3, 2023 with interest at 18% [5] - 5,900 Note payable to a related party with an issue date of November 3, 2023 with interest at 18% [6] 8,260 8,260 Note payable to a related party with an issue date of February 12, 2024 with interest at 18% [8] 2,006 2,006 Note payable to a related party with an issue date of March 17, 2024 with interest at 18% [9] - 7,080 Note payable to a related party with an issue date of April 25, 2024 with interest at 18% [10] 5,340 8,260 Note payable to a related party with an issue date of April 26, 2024 with interest at 18% [11] 59,000 59,000 Note payable to a related party with an issue date of May 29, 2024 with interest at 18% [12] 59,000 - Note payable to a related party with an issue date of June 4, 2024 with interest at 18% [13] 3,068 - Note payable to a related party with an issue date of June 4, 2024 with interest at 18% [14] 3,054 - Note payable to a related party with an issue date of June 4, 2024 with interest at 18% [15] 3,054 - Note payable to a related party with an issue date of July 2, 2024 with interest at 18% [16] - - Note payable to a related party with an issue date of July 8, 2024 with interest at 5% [17] 63,000 - Total 205,782 120,478 Less discount (81,226 ) (47,152 ) Net $ 124,556 $ 73,326 [1] Effective May 7, 2023, the Company entered into a promissory note with Lake of Silver, LLC, a related party, through its wholly owned subsidiary, Pecos Clean Fuels & Transport, LLC. The note has a principal amount of $10,000 and a maturity date of May 7, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $1,800 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 156,739,812 warrants, thus $7,265 of the $10,000 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [2] Effective May 16, 2023, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party, through its wholly owned subsidiary, Pecos Clean Fuels & Transport, LLC. The note has a principal amount of $4,000 and a maturity date of May 16, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $720 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 62,695,925 warrants, thus $3,198 of the $4,000 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [3] Effective May 31, 2023, the Company entered into a promissory note with BNL Family Trust, a related party, through its wholly owned subsidiary, Pecos Clean Fuels & Transport, LLC. The note has a principal amount of $6,400 and a maturity date of May 31, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $1,152 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 100,313,480 warrants, thus $5,386 of the $6,400 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [4] Effective June 6, 2023, the Company entered into a promissory note with Nabil Katabi, a related party, through its wholly owned subsidiary, Pecos Clean Fuels & Transport, LLC. The note has a principal amount of $5,000 and a maturity date of June 6, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $900 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 78,369,906 warrants, thus $4,474 of the $5,000 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [5] Effective July 3, 2023, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party. The note has a principal amount of $5,000 and a maturity date of July 3, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $900 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with $5,000 consulting fee under a subscription agreement. As of July 31, 2024, the note payable went into default and subsequently on August 1, 2024 the note payable was extended to October 1, 2025. [6] Effective November 3, 2023, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party. The note has a principal amount of $7,000 and a maturity date of November 3, 2024. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $1,260 was recorded as a debt discount at the notes inception to be recognized over the term of the note. [7] Effective February 7, 2024, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party. The note has a principal amount of $6,100 and a maturity date of February 7, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $1,098 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, as of April 30, 2024 the loan was paid back in full. [8] Effective February 12, 2024, the Company entered into a promissory note with BNL Family Trust, a related party. The note has a principal amount of $1,700 and a maturity date of February 12, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $306 was recorded as a debt discount at the notes inception to be recognized over the term of the note. [9] Effective March 17, 2024, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party. The note has a principal amount of $6,000 and a maturity date of March 17, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $1,080 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, as of July 31, 2024 the loan was paid back in full. [10] Effective April 25, 2024, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party. The note has a principal amount of $7,000 and a maturity date of April 25, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $1,260 was recorded as a debt discount at the notes inception to be recognized over the term of the note. As of July 31, 2024, the note had an outstanding balance of $5,340. [11] Effective April 26, 2024, the Company entered into a promissory note with Maple Resources, a related party. The note has a principal amount of $50,000 and a maturity date of April 26, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $9,000 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 1,247,609,946 warrants, thus $33,947 of the $50,000 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. [12] Effective May 29, 2024, the Company entered into a promissory note with Maple Resources, a related party. The note has a principal amount of $50,000 and a maturity date of May 29, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $9,000 was recorded as a debt discount at the notes inception to be recognized over the term of the note. [13] Effective June 4, 2024, the Company entered into a promissory note with BNL Family Trust, a related party. The note has a principal amount of $2,600 and a maturity date of June 6, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $468 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 38,235,294 warrants, thus $1,443 of the $2,600 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. [14] Effective June 4, 2024, the Company entered into a promissory note with Maple Resources, a related party. The note has a principal amount of $2,588 and a maturity date of June 6, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $466 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 38,235,294 warrants, thus $1,439 of the $2,588 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. [15] Effective June 4, 2024, the Company entered into a promissory note with Nabil Katabi, a related party. The note has a principal amount of $2,588 and a maturity date of June 6, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $466 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 38,235,294 warrants, thus $1,439 of the $2,588 in note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. [16] Effective July 2, 2024, the Company entered into a promissory note with Alpenglow Consulting, LLC, a related party. The note has a principal amount of $5,000 and a maturity date of July 2, 2025. In lieu of interest the Company is to pay the lender 18% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $900 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, as of July 31, 2024 the loan was paid back in full. [17] Effective July 8, 2024, the Company entered into a promissory note with Maple Resources, a related party. The note has a principal amount of $180,000 to be funded in three drawdowns of $60,000 each and a maturity date of July 8, 2025. In lieu of interest the Company is to pay the lender 5% of the principal amount, in addition to the principal payment, on the maturity date. Accordingly, $3,000 was recorded as a debt discount at the notes inception to be recognized over the term of the note. In addition, the note was issued with 2,647,058,824 warrants, thus $35,006 of the $60,000 in note proceeds, from the first drawdown, were allocated to the warrants with an increase in additional paid-in capital (see Note 8) and an increase in debt discount. Equity Activity – Related Parties During the three months ended July 31, 2024, the Company issued 2,761,764,706 warrants in consideration of debt therefore $39,326 of note proceeds were allocated to the warrants with an increase in additional paid-in capital (see Note 8). |