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NOTE 6 - CONVERTIBLE NOTE
12 Months Ended
Apr. 30, 2016
Convertible Notes Payable [Abstract]  
NOTE 6 - CONVERTIBLE NOTE

NOTE 6 – CONVERTIBLE NOTE

 

On January 31, 2016, the Company issued convertible notes of $51,221 for the payment of promissory notes of $51,211 (note 5). Unpaid balances are due on January 31, 2018 and accrue an annual interest at the rate of 4%. The Holders have the right, at any time to convert any part of outstanding Principal balance of this note into shares of the Company’s common stock at a conversion rate of $0.01 per share.

 

During the year ended April 30, 2016, the Company recorded as discount on the convertible note due to a beneficial conversion feature of $51,221 and amortized $6,403 as interest expense.