NOTE 5 - NOTES PAYABLE

8 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

NOTE 5 - NOTES PAYABLE

NOTE 5 – NOTES PAYABLE

Promissory Notes

During the eight months ended December 31, 2016, unrelated parties advanced funds in the amount of $19,137 to fund operations and provide working capital. Unpaid balances are due on demand and accrue an annual interest rate of 5%. During the year ended April 30, 2016, the Company acknowledged and agreed to issue the convertible note of $51,221 for payment of principal on the Promissory note of $51,221 (note 6).

As of December 31, 2016 and April 30, 2016, the promissory notes totaled $33,848 and $14,711, respectively.

During the transition period ended December 31, 2016 and year ended April 30, 2016, the interest expense was $633 and $1,567, respectively. As of December 31, 2016 and April 30, 2016, accrued interest was $2,316 and $1,683, respectively.

Note Payable

The Company had the following note payable outstanding as of December 31, 2016 and April 30, 2016:

		December 31,		April 30,
		2016		2016
Note dated April 30, 2015, to Warwick Overseas, LLC, interest at 5%, due in two installments of $125,000 at the end of each year, term of two years	$	250,000	$	250,000
Total note payable		250,000		250,000
Less current portion of note payable		250,000		250,000
Long-term portion of note payable	$	-	$	-

On April 30, 2017, the Warwick Overseas, LLC, agreed to extend the note for an additional one year term to April 30, 2018.

During the transition period ended December 31, 2016 and year ended April 30, 2016, interest expense was $8,391 and $12,534, respectively. As of December 31, 2016 and April 30, 2016, accrued interest is $20,925 and $12,534, respectively.