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LOANS PAYABLE AND NOTES PAYABLE
9 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
LOANS PAYABLE AND NOTES PAYABLE

NOTE 6 – LOANS PAYABLE AND NOTES PAYABLE

 

The Company has outstanding loans payable to unrelated third parties in the amount of $nil and $419,229 as of December 31, 2024 and March 31, 2024, respectively. These loans were unsecured, non-interest-bearing, with a maturity date of October 19, 2026.

 

On December 31, 2024, the Company entered into a promissory note agreement totaling $825,742, modifying the terms of the existing loan agreement, including an extension of the maturity date. As a result, the balance is classified as “Notes Payable” as of December 31, 2024. The prior period balance is presented as “Loan Payables,” consistent with the classification at that time. These notes are unsecured, non-interest-bearing, with a maturity date of December 31, 2029. The outstanding notes payable to unrelated third parties were $825,742 and $nil as of as of December 31, 2024 and March 31, 2024, respectively.

 

On December 31, 2024, the Company formalized an agreement with certain related parties, converting existing liabilities classified as “Due to Related Parties” in the amount of $841,959 into a promissory note with a maturity date of December 31, 2029. As a result, the balance is classified as “Notes Payable” as of December 31, 2024. The prior period balance remains classified as “Due to Related Parties,” consistent with the terms in effect at that time. These notes are unsecured, non-interest-bearing, with a maturity date of December 31, 2029. The outstanding notes payable related parties were $841,959 and $nil as of as of December 31, 2024 and March 31, 2024, respectively.