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NOTES PAYABLE
12 Months Ended
Sep. 30, 2020
NOTES PAYABLE  
NOTE 7 - NOTES PAYABLE

On November 15, 2018, the Company received an advance from one non-related party for $65,000. On December 3, 2018, the Company received an additional advance of $35,000 from the same individual for a total of $100,000. Both advances are unsecured, on demand and bear no interest. The Company has calculated an imputed interest of $5,000 as of September 30, 2019. During the quarter ended December 31, 2019 the Company issued 800,000 shares of common stock with a value of $100,000 for the payment of the note and implied interest. The transaction resulted in a loss on settlement of debt of $25,600.

 

During the year ended September 30, 2020 the Company issued three notes totaling $33,125. The notes all mature in two years from date of issuance with one note for $10,000 bearing 20% interest and the balance of the note bearing 10% interest per annum.