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Related Party Transactions

3 Months Ended

Dec. 31, 2019

NOTE 7 – RELATED PARTY TRANSACTIONS

The related parties consist of the following:

Name of Related Party		Nature of Relationship
Jiyin Li		Chairman
Huibin Su		Chief Executive Officer and Chief Financial Officer
Chaoran Zhang		Significant Shareholder of Shenzhen CX
Zizhong Huang		Chief Operating Officer

Due to related parties

Due to related parties consist of the following:

	December 31, 2019		September 30, 2019
Jiyin Li	$	1,279	$	1,279
Huibin Su		495,152		445,607
Chaoran Zhang		14,354		14,013
Total	$	510,785	$	460,899

The balance of due to related parties represents expense paid by related parties on behalf of the Company and the loans the Company obtained from related parties for working capital purpose. The loans owed to the related parties are interest free, unsecured and repayable on demand.

During the three months ended December 31, 2019 and 2018, the Company obtained loans from the above related parties in the amount of $46,369 and $40,834, respectively, and made repayment to them in the amount of $1,562 and $14,105, respectively.

During the three months ended December 31, 2019 and 2018, Huibin Su paid expenses on behalf of the Company in the amount of $1,840 and $3,870, respectively.

In addition, during the three months ended December 31, 2019 and 2018, Dongguan FirstWisdom Listing Services Co., Ltd, a company controlled by Chaoran Zhang and Huibin Su, was allowed to share the office space leased by Shenzhen CX at no cost. During the three months ended December 31, 2019 and 2018, friends of Huibin Su provided office spaces to CX HK and Shenzhen CX free of charge. Yi Zhang, a friend of Huibin Su, also provided non-compensated accounting services to the Company during the three months ended December 31, 2019 and 2018.