RELATED PARTY TRANSACTIONS

12 Months Ended

Jul. 31, 2021

RELATED PARTY TRANSACTIONS

NOTE 3 - RELATED PARTY TRANSACTIONS

 NOTE 3 - RELATED PARTY TRANSACTIONS

· 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 at an annual interest rate of 5%. On December 31, 2019, the line of credit increased up to $150,000 and was extended to December 31, 2021, and maybe prepaid without penalty. The Company concluded the note modification was not a significant change and is not treating it as an extinguishment. During the years ended July 31, 2021 and 2020, the Company borrowed $14,250 and $25,700 from a corporation controlled by an officer and director, respectively. For the years ended July 31, 2021 and 2020, the Company accrued interest of $4,498 and $4,806, respectively.

· On April 26, 2021, the board of directors of the Company approved a security purchase agreement with T.Benjamin  Jennings to sell and issue 21,220,000 shares of common stock at $201,335 in cash (See “Note 1). The Company received the consideration in full and issued the shares on May 12, 2021.

· On April 26, 2021, in connection with change of the control (“Note 1”), the Company paid off the principal loan of $120,051 and accrued interest of $15,542. As of July 31, 2021, and 2020, the Company was obligated, for this interest-bearing loan with a balance of $0 and $105,801, and accrued interest of $0 and $11,044, respectively.

· During the year ended July 31, 2021, a corporation controlled by a former officer and director, rendered consulting services of $50,000 and related expenses of $1,613 to the Company and was paid.

· During the year ended year ended July 31, 2021, the Company’s shareholder financed of $1,608 for operation expenses. As of July 31, 2021, the Company was obliged for an unsecured, none-interest bearing demand loan with balance of $1,608.

· 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.