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CONVERTIBLE NOTES
9 Months Ended
Feb. 28, 2025
CONVERTIBLE NOTES  
CONVERTIBLE NOTES

NOTE 6 – CONVERTIBLE NOTES

 

 

 

February 28,

 

 

May 31,

 

 

 

2025

 

 

2024

 

Convertible Notes - June 2019

 

$56,859

 

 

$56,859

 

Convertible Notes - August 2019

 

 

14,716

 

 

 

14,716

 

Convertible Notes - November 2019

 

 

8,789

 

 

 

8,789

 

Convertible Notes - February 2020

 

 

18,956

 

 

 

18,956

 

Convertible Notes - May 2020

 

 

3,350

 

 

 

3,350

 

Convertible Notes - August 2020

 

 

16,632

 

 

 

16,632

 

Convertible Notes - November 2020

 

 

7,400

 

 

 

7,400

 

Convertible Notes - February 2021

 

 

2,700

 

 

 

2,700

 

 

 

 

129,402

 

 

 

129,402

 

Less current portion of convertible notes payable

 

 

(129,402 )

 

 

(129,402 )

Non-current convertible notes payable

 

$-

 

 

$-

 

 

On June 1, 2019, the Company issued convertible notes to three unaffiliated parties for an aggregate amount of  $81,859 to replace the full amount of related party advances that had been provided to the Company through May 31, 2019. The convertible notes are due on demand, bear interest at 25% per annum and are convertible at $0.01 per share for the Company common stock. The total debt discount from the beneficial conversion features of $81,859 was expensed upon issuance of the notes.

 

On August 31, 2019, the Company issued a convertible note to an

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on behalf of the Company. The convertible note is due on demand, bears interest at 25% per annum and is convertible at $0.95 per share for the Company common stock. The debt discount from the beneficial conversion of $6,971 was expensed upon issuance of the note.

 

On November 30, 2019, the Company issued a convertible note to an unaffiliated party of $8,789 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 25% per annum and is convertible at $0.95 per share for the Company common stock. The debt discount from the beneficial conversion of $8,788 was expensed upon issuance of the note.

 

On January 3, 2020, the Company amended a convertible note of $25,000 issued on June 1, 2019. The amended convertible note is due on demand, bear interest at 5% per annum and are convertible at $0.002 per share for the Company common stock. On February 17, 2020, the note holder of the amended convertible note sold the note to two unaffiliated parties. On June 1, 2020, principal of $11,000 from the convertible notes was converted for 5,500,000 shares of common stock.

 

On February 29, 2020, the Company issued a convertible note to an unaffiliated party of $4,956 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 25% per annum and is convertible at $0.001 per share for the Company common stock. The debt discount from the beneficial conversion of $4,956 was expensed upon issuance of the note.

 

On May 31, 2020, the Company issued a convertible note to an unaffiliated party of $3,350 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 25% per annum and is convertible at $0.001 per share for the Company common stock. The debt discount from the beneficial conversion of $3,350 was expensed upon issuance of the note.

 

On August 31, 2020, the Company issued a convertible note to an unaffiliated party of $16,632 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 25% per annum and is convertible at $0.001 per share for the Company common stock. The debt discount from the beneficial conversion of $16,632 was expensed upon issuance of the note.

 

On November 30, 2020, the Company issued a convertible note to an unaffiliated party of $7,400 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 25% per annum and is convertible at $0.001 per share for the Company common stock. The debt discount from the beneficial conversion of $7,400 was expensed upon issuance of the note.

 

On February 28, 2021, the Company issued a convertible note to an unaffiliated party of $2,700 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 25% per annum and is convertible at $0.001 per share for the Company common stock. The debt discount from the beneficial conversion of $2,700 was expensed upon issuance of the note.

 

During the nine months ended February 28, 2025 and February 29, 2024, the Company incurred note interest expense of $22,102 and $22,183, respectively.

 

As of February 28, 2025 and May 31, 2024, the convertible notes payable was $129,402 and $129,402, respectively, and accrued note interest payable was $161,893 and $139,791, respectively.