RELATED PARTY TRANSACTIONS

3 Months Ended

Oct. 31, 2019

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 4 - RELATED PARTY TRANSACTIONS

Note Payable

On July 15, 2014, a corporation controlled by an officer and director committed $75,000 Promissory Note in the form of an unsecured line of credit. Any unpaid balance was due December 31, 2015. On April 15, 2019, the line of credit increased to $100,000 and was extended to December 31, 2019, at an annual interest rate of 5% and may be prepaid without penalty. The Company concluded the note modification was not a significant change and is not treating it as an extinguishment. During the three months ended October 31, 2019, the Company borrowed $12,300 and repayments under the line of credit to the Company were made in the amount of $0. As of October 31, 2019, the Company was obligated, for this interest-bearing loan with a balance of $92,401 and accrued interest of $7,335. The Company plans to pay the loan and interest back as cash flows become available. The remaining balance available under the line of credit is $7,599 as of October 31, 2019. For the three months ended October 31, 2019 and 2018, the Company paid $0 and $0, respectively, in interest on this note payable.

Other

The Company does not own or lease property or lease office space. The office space used by the Company was arranged by the founder, who is also the CEO and President, of the Company to use at no charge.