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RELATED PARTY TRANSACTIONS DISCLOSURE
12 Months Ended
Sep. 30, 2019
Notes  
RELATED PARTY TRANSACTIONS DISCLOSURE

NOTE 5 - RELATED PARTY TRANSACTIONS

 

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 effective date February 1, 2019. The interest on the note is to be paid monthly. At September 30, 2019 and September 30, 2018, the Company has paid interest of $2,827 and $0 to Lin Su Hui in form of cash, and has accrued interest of $417 and $0, respectively.

 

At September 30, 2019 and 2018, a related party, that our CEO and director, Mr. Lam Chi Kwong Leo is the authorized representative, has paid expenses on behalf of the Company in the amount of $123,610 and $48,958, respectively. The loans are unsecured, payable on demand, and carry no interest.

 

For the year ended September 30, 2019, our CEO and director, Mr. Lam Chi Kwong Leo loaned certain amount to the Company. As of September 30, 2019 and 2018, the amounts due to director are recorded at $2,789 and $2,135 respectively. This loan is unsecured, payable on demand, and carry no interest.

 

The Company does not own or rent any property. The office space is provided by a related party at no charge.