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LOANS PAYABLE- RELATED PARTY (Tables)
6 Months Ended
Jan. 31, 2024
LOANS PAYABLE- RELATED PARTY  
Schedule of loans payable - related party

 

 

Principal

 

 

Maturity

 

Interest

 

 

January 31,

 

 

 

Amount

 

 

date

 

Rate

 

 

2024

 

Loan dated December 1,2023

 

$125,000

 

 

12/1/2053

 

 

9.50%

 

$125,000

 

Loan dated December 1,2023

 

$125,000

 

 

12/1/2053

 

 

9.50%

 

 

125,000

 

Loan dated December 1,2023

 

$125,000

 

 

12/1/2053

 

 

9.50%

 

 

125,000

 

Loan dated December 1,2023

 

$125,000

 

 

12/1/2053

 

 

9.50%

 

 

125,000

 

Total loans payable

 

 

 

 

 

 

 

 

 

 

 

 

500,000

 

Less: current portion

 

 

 

 

 

 

 

 

 

 

 

 

-

 

Long -term loans portion

 

 

 

 

 

 

 

 

 

 

 

$500,000

 

Schedule of maturities of long-term loans payable -related party

 

 

January 31,

 

 

 

2024

 

Year ending July 31,

 

 

 

Remaining of 2024

 

$28,203

 

2025

 

 

47,500

 

2026

 

 

47,500

 

2027

 

 

47,500

 

2028

 

 

47,500

 

Thereafter

 

 

1,707,292

 

 

 

 

1,925,495

 

 Imputed interest 

 

 

(1,425,495)

 

 

$500,000