RELATED PARTY TRANSACTIONS

12 Months Ended

Jul. 31, 2022

RELATED PARTY TRANSACTIONS

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 year ended July 31,2021, the Company borrowed $14,250 from a corporation controlled by an officer and director. For the year ended July 31, 2021, the Company accrued interest of $4,498.

· 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, the Company was obligated, for this interest-bearing loan with a balance of $0, and accrued interest of $0.

· 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 years ended year ended July 31,2022 and 2021, the Company’s shareholder financed of $32,338 and $1,608 for operation expenses, respectively. As of July 31, 2022, the Company was obliged for an unsecured, none-interest bearing demand loan with balance of $33,946 and $1,608, respectively.

· During the years ended July 31,2022 and 2021, the Company recognized $1,542 and $0 interest on related party loans and imputed in additional paid-in-capital.

· During the year ended July 31, 2022, the Company recognized and paid $35,000 salary to a member of the board of directors for services rendered to the Company. As at July 31, 2022, the Company recognized a prepaid wages of $1,098 for over payment of salary and payroll liabilities of $7,706.

· On March 1,2022, the Company entered in a consulting agreement in the field of Healthcare for monthly $8,333 with First DP Ventures, LP. The services were performed by a member of the Company’s board of directors. During the year ended July 31,2022, the Company generated revenues of $41,666 and recognized and paid $35,000 salary to a member of the board of directors.

· 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.