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BANK BORROWINGS (Tables)
9 Months Ended
Apr. 30, 2024
BANK BORROWINGS  
Schedule of bank borrowings

 

 

Principal

 

 

Maturity

 

Interest

 

 

April 30,

 

 

 

Amount

 

 

date

 

Rate

 

 

2024

 

Loan dated October 27,2023

 

$114,800

 

 

11/1/2053

 

 

9.50%

 

$114,800

 

Loan dated October 27,2023

 

 

114,800

 

 

11/1/2053

 

 

9.50%

 

 

114,800

 

Loan dated November 3,2023

 

 

88,000

 

 

11/15/2028

 

 

8.50%

 

 

85,227

 

Loan dated November 3,2023

 

 

88,000

 

 

11/15/2028

 

 

8.50%

 

 

87,989

 

Loan dated November 3,2023

 

 

88,000

 

 

11/15/2028

 

 

8.50%

 

 

21,034

 

Loan dated November 3,2023

 

 

88,000

 

 

11/15/2028

 

 

8.50%

 

 

2,488

 

Loan dated November 3,2023

 

 

88,000

 

 

11/15/2028

 

 

8.50%

 

 

13,600

 

Total loans payable

 

 

 

 

 

 

 

 

 

 

 

 

439,938

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: unamortized debt discount

 

 

 

 

 

 

 

 

 

 

 

 

(25,419)

Total

 

 

 

 

 

 

 

 

 

 

 

 

414,519

 

Less: current portion

 

 

 

 

 

 

 

 

 

 

 

 

(199,083)

Long -term portion

 

 

 

 

 

 

 

 

 

 

 

$215,436

 

Schedule of maturities of long term loans payable

 

 

April 30,

 

 

 

2024

 

Year ending July 31,

 

 

 

Remaining of 2024

 

$16,400

 

2025

 

 

43,917

 

2026

 

 

42,075

 

2027

 

 

43,917

 

2028

 

 

43,917

 

Thereafter

 

 

826,805

 

 

 

 

1,017,031

 

Imputed interest 

 

 

(577,093)

 

 

$439,938