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NOTE 5 - Line of Credit - Related Party
12 Months Ended
Sep. 30, 2025
Notes  
NOTE 5 - Line of Credit - Related Party

NOTE 5 – Line of Credit – Related Party

 

On January 4, 2021, we entered into a revolving promissory note agreement with our president and principal stockholder. During the year ending September 30, 2025, the Company amended the revolving promissory note agreement to extend the maturity date to December 31, 2025 and increase the maximum principal indebtedness to $170,000. The revolving promissory note bears interest at the rate of 3.5%. The Company received proceeds under the line of credit of $39,802 and recorded interest expense of $5,202 during the year ended September 30, 2025, resulting in balances of $166,423 and $126,621, with accrued interest of $13,439 and $8,237, at September 30, 2025 and 2024, respectively.  

 

On December 1, 2021, we entered into a revolving promissory note agreement with another principal stockholder and during the year ended September 30, 2025, the Company amended the revolving promissory note agreement to extend the maturity date to December 31, 2025 and increase the maximum principal indebtedness to $30,000. The note bears interest at the rate of 3.5% per annum. The Company received proceeds under the line of credit of $5,522 and recorded interest expense of $906 during the year, resulting in balances of $27,869 and $22,347, with accrued interest of $2,128 and $1,222, at September 30, 2025 and 2024, respectively.