LOAN RECEIVABLE	12 Months Ended
Jul. 31, 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. During the year ended July 31, 2023, the Company collected principal of $444,325 and interest of $67,457, of which principal of $157,105 and interest of $28,133 (totally $185,238) were collected on behalf of a third-party investor and recorded as accrued liabilities as of July 31, 2023. On July 23, 2024, the Company repaid outstanding due of $185,238. On July 7, 2023, RAC filed an ongoing lawsuit with Fix Pad Holdings, therefore, no further interest income was recognized. During the years ended July 31, 2024, and 2023, the Company recorded interest income of $0 and $49,187, respectively. In June 2024, the Company entered into two settlement agreements, which FixPads Holdings LLC and the others transfer the title of forty-four (44) properties to the Company for selling and distributing the net proceed from the sales between the parties. According to the terms and condition of settlement agreements, the loan receivable of $228,750 and accrued interest receivable of $2,851 were a part of settlement agreement., which the Company recovered the total loan receivable of $231,421 from nonmonetary gain resulted from properties (see Note 13).

LOAN RECEIVABLE

12 Months Ended

Jul. 31, 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.

During the year ended July 31, 2023, the Company collected principal of $444,325 and interest of $67,457, of which principal of $157,105 and interest of $28,133 (totally $185,238) were collected on behalf of a third-party investor and recorded as accrued liabilities as of July 31, 2023. On July 23, 2024, the Company repaid outstanding due of $185,238.

On July 7, 2023, RAC filed an ongoing lawsuit with Fix Pad Holdings, therefore, no further interest income was recognized. During the years ended July 31, 2024, and 2023, the Company recorded interest income of $0 and $49,187, respectively.

In June 2024, the Company entered into two settlement agreements, which FixPads Holdings LLC and the others transfer the title of forty-four (44) properties to the Company for selling and distributing the net proceed from the sales between the parties. According to the terms and condition of settlement agreements, the loan receivable of $228,750 and accrued interest receivable of $2,851 were a part of settlement agreement., which the Company recovered the total loan receivable of $231,421 from nonmonetary gain resulted from properties (see Note 13).