RELATED PARTY TRANSACTIONS

9 Months Ended

Apr. 30, 2021

RELATED PARTY TRANSACTIONS

NOTE 4 - RELATED PARTY TRANSACTIONS

NOTE 4 - RELATED PARTY TRANSACTIONS

On March 19, 2018, the Company entered into a one-year employment agreement with the former chief executive officer, who was also the sole director, pursuant to which the Company issued to him 17,500,000 shares of common stock, valued at $980,000, and agreed to pay him $164,706 to cover the federal income tax on the value of the stock and the tax payment. The shares are fully vested. As of April 30, 2021 and July 31, 2020, $164,706 was reflected as an amount due to related parties.

During the nine months ended April 30, 2021 and 2020, our shareholder paid operating expenses of $19,500 and $27,700 on behalf of the Company, respectively.

The following table sets forth the amounts due to related parties at April 30, 2021 and July 31, 2020:

	April 30,		July 31,
	2021		2020
Due to former chief executive officer pursuant to executive employment agreement	$	164,706	$	164,706
Due to shareholders		48,110		28,610
	$	212,816	$	193,316