BANK BORROWINGS

9 Months Ended

Apr. 30, 2025

BANK BORROWINGS

BANK BORROWINGS

NOTE 7 – BANK BORROWINGS

As of April 30, 2025, and July 31,2024, bank borrowings consist, as follows; 

	Principal		Maturity	Interest			April 30			July 31,
	Amount		date	Rate			2024			2024
Loan dated October 27, 2023	$	114,800	November 1, 2053		9.50	%	$	110,800		$	114,800
Loan dated October 27, 2023		114,800	November 1, 2053		9.50	%		110,800			114,800
Loan dated November 3, 2023		88,000	November 15, 2028		8.50	%		-			87,712
Loan dated November 3, 2023		88,000	November 15, 2028		8.50	%		87,546			87,726
Loan dated November 3, 2023		88,000	November 15, 2028		8.50	%		-			80,089
Loan dated November 3, 2023		88,000	November 15, 2028		8.50	%		-			44,153
Loan dated November 3, 2023		88,000	November 15, 2028		8.50	%		-			40,501
Loan dated July 26, 2024		109,500	August 1, 2054		8.63	%		107,765			109,500
Loan dated July 26, 2024		126,300	August 1, 2054		8.75	%		124,715			126,300
Loan dated July 26, 2024		131,200	August 1, 2054		9.13	%		129,623			131,200
Loan dated July 26, 2024		131,200	August 1, 2054		9.13	%		129,623			131,200
Loan dated April 17,2025		127,400	May 1, 2055		7.63	%		127,400			-
Loan dated April 17,2025		130,000	May 1, 2055		7.75	%		130,000			-
Loan dated April 17,2025		118,000	May 1, 2055		7.38	%		118,000			-
Loan dated April 17,2025		114,000	May 1, 2055		7.38	%		114,000			-
Total loans payable								1,290,272			1,067,981
Less: unamortized debt discount								(31,702	)		(24,675	)
Total								1,258,570			1,043,306
Less: current portion of loans payable								(90,273	)		(332,589	)
Long -term loans portion							$	1,168,297		$	710,717

Loans dated October 27, 2023

The monthly payment of $909 for the first 120 months to be applied to interest, and thereafter, will be $1,070 for principal and interest.

During the nine months ended April 30, 2025, and 2024, the Company paid principal of  $8,000 and $0, recognized interest of $16,359 and $11,115, amortization of debt discount of $359 and $244 and paid interest of $16,327 and $9,947, respectively.

Loans dated November 3, 2023

These are construction loans (pre-mortgages) that are expected to convert to mortgage loans once the homes are completed.

During the nine months ended April 30, 2025, and 2024, the Company borrowed $102,574 and $210,338, recognized interest of $29,231and $3,087, amortization of debt issuance cost of $8,879 and $1,214 and paid principal of $355,508 and $0 and interest of $ 31,272 and $1,961, respectively.

Loans dated July 26, 2024

On July 26, 2024, the Company’s shareholder, Interim Chief Executive Officer (ICEO) obtained four loans (totally $498,200) for settlement of loans payable -related party for amounts of $471,500.  On July 31, 2024, the Company and ICEO entered into an assignment agreement which the bank agrees with assignment and collateral of four homes, The Company accepted the terms and condition of four bank loans agreements.

During the nine months ended April 30, 2025, the Company paid principal of $6,475 and recognized interest of $33,373 and paid interest of $29,656.

Loans dated April 17, 2025

On April 17, 2025, the Company’s shareholder and director obtained four loans (totally $489,400) with collateral of four homes for settlement of four line of credits for amounts of $353,099. 

During the nine months ended April 30, 2025, the Company recognized amortization debt discount of $19.

During the nine months ended April 30, 2025, the Company allocated interest of $10,550 from total interest of $78,963 related to the above loans to construction in progress. 

The following table outlines the maturities of our long-term loans payable, as of April 30, 2025: 

	April 30
	2025
Year ending July 31,
Remaining of 2025	$	133,326
2026		110,936
2027		110,936
2028		110,936
2029		110,936
Thereafter		2,870,606
		3,447,676
Imputed interest		(2,157,404	)
	$	1,290,272