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RELATED PARTY TRANSACTIONS DISCLOSURE
9 Months Ended
Jun. 30, 2019
Notes  
RELATED PARTY TRANSACTIONS DISCLOSURE

NOTE 5 - RELATED PARTY TRANSACTIONS

 

At June 30, 2019 and September 30, 2018, an affiliate has paid expenses on behalf of the Company in the amount of $106,026 and $48,958, respectively. The loans are unsecured, payable on demand, and carry no interest.

 

On February 1, 2019, the Company entered into a Note Purchase Agreement with an accredited related investor Lin Su Hui. Pursuant to this agreement, the Company issued a promissory note to Lin Su Hui for $50,000, at 10% interest per annum, with a maturity date of February 6, 2020. Per the agreement, the note began to accrue interest 5 days after the February 1, 2019 effective date. The interest on the note is to be paid monthly. At June 30, 2019 and September 30, 2018, the Company has paid interest of $1,577 and $0, and has accrued interest of $417 and $0, respectively.

 

Total related party loans as described as above as of June 30, 2019 and September 30, 2018 are $156,026 and $48,958, respectively.

 

The Company does not own or rent any property. The office space is provided by the CEO at no charge.