LOAN RECEIVABLE	9 Months Ended
Apr. 30, 2024
LOAN RECEIVABLE
LOAN RECEIVABLE	NOTE 4 – LOAN RECEIVABLE On July 22, 2022, the Company received a promissory note, in the principal amount of $672,960 from, and entered into a Loan Agreement dated July 18, 2022, with Fix Pads Holdings, LLC. The note has a 12% interest rate per annum payable of $672,960. Consideration for the note was paid in part by the Company in the amount of $328,626, net of prepayment interest and in part by a third-party investor in the amount of $328,626. On August 18, 2022, the Company issued the promissory note of $358,620. The note has a 12% interest rate per annum payable of $358,620 and is due on August 1, 2023. Consideration for the note was paid in part by the Company in the amount of $175,007, net of prepayment interest and in part by a third-party investor in the amount of $175,007. The Company currently has an ongoing lawsuit with Fix Pad Holdings, therefore, no further interest income is recognized and the balance is expected to be fully recovered through the settlement (Note 11). During the nine months ended April 30, 2024, and 2023, the Company recorded interest income of $0 and $40,073, respectively. As of April 30, 2024, and July 31, 2023, the Company recorded loan receivable of $228,570 and $228,570 and accrued interest income of $2,851 and $3,116, respectively.

LOAN RECEIVABLE

9 Months Ended

Apr. 30, 2024

NOTE 4 – LOAN RECEIVABLE

On July 22, 2022, the Company received a promissory note, in the principal amount of $672,960 from, and entered into a Loan Agreement dated July 18, 2022, with Fix Pads Holdings, LLC. The note has a 12% interest rate per annum payable of $672,960. Consideration for the note was paid in part by the Company in the amount of $328,626, net of prepayment interest and in part by a third-party investor in the amount of $328,626.

On August 18, 2022, the Company issued the promissory note of $358,620. The note has a 12% interest rate per annum payable of $358,620 and is due on August 1, 2023. Consideration for the note was paid in part by the Company in the amount of $175,007, net of prepayment interest and in part by a third-party investor in the amount of $175,007.

The Company currently has an ongoing lawsuit with Fix Pad Holdings, therefore, no further interest income is recognized and the balance is expected to be fully recovered through the settlement (Note 11).

During the nine months ended April 30, 2024, and 2023, the Company recorded interest income of $0 and $40,073, respectively.

As of April 30, 2024, and July 31, 2023, the Company recorded loan receivable of $228,570 and $228,570 and accrued interest income of $2,851 and $3,116, respectively.